#1PRIMERICAⓇ Introduction to Primerica Full Year 2017#22 Forward-Looking Statements and Non-GAAP Financial Measures Forward-Looking Statements This presentation may contain forward-looking statements and information. Additional information and factors that could cause results to differ materially from those in this presentation are available in our Form 10-K for the year ended December 31, 2017, which is available in the "Investor Relations" section of our website, http://investors.primerica.com, as may be updated by subsequent Quarterly Reports on Form 10-Q. Non-GAAP Financial Measures This presentation also contains non-GAAP financial measures. A reconciliation of those measures to GAAP financial measures is included in our Financial Supplement, which is posted in the financial information page of the Investor Relations section of our website, http://investors.primerica.com. Except for the GAAP reconciliations referred to in the preceding sentence, none of the information on our website shall be deemed to be a part of this presentation. Reported amounts may not agree due to rounding. Confidential and/or Proprietary Information This presentation contains confidential and/or proprietary information that is not otherwise available to the public and that, if disclosed, could cause substantial injury to the competitive position of Primerica. Accordingly, Primerica respectfully requests that this presentation, including any exhibits attached and all materials filed as a supplement in connection herewith, be afforded confidential treatment. PRIMERICAⓇ#33 Track Record Unparalleled Distribution Growth Opportunity Diverse Earnings Recurring Revenue Capital Deployment Stockholder Returns Compelling Investment Opportunity Proven 40-year track record, with significant growth since 2010 IPO Experienced and dedicated leadership team Large, exclusive life insurance and mutual fund licensed sales force in North America Huge unmet needs in the middle income market Business aligns with demographic trends Two complementary business lines generate strong earnings Recurring revenue streams from long-term client relationships Significant level of free cash flows generated annually Industry-leading returns with demonstrated growth PRIMERICAⓇ#44 Culture of Excellence "Our purpose is to create financially independent families." Highly Experienced Management Team with Long Tenure and Deep Understanding of Primerica's Business and Operations Glenn Williams CEO since '15 President '05-'15 Joined '81 Peter Schneider President since '15 Joined as GC in '00 Our difference is our people: 2,100 dedicated employees Alison Rand CFO since '09 Joined '95 Greg Pitts COO since '09 Joined '85 ► 126,100 life insurance licensed representatives as of 12/31/2017 PRIMERICAⓇ#5126,100 life insurance licensed representatives Large Sales Force allows effective penetration of the vast, frequently underserved Middle Income Market 1 24,300 mutual fund licensed representatives сл 5 1 As of December 31, 2017 Detec MINTA ME Tweets, CHOA Leseze pene t - Approximately 5,000 Primerica Regional Vice President businesses in the U.S., Canada and Puerto Rico (¹) $764 billion of Term Life face amount in force ~$61 billion in client asset values PRIMERICAⓇ#66 Primerica's Middle Income Clients Average household income 1 Average face amount of term life policy 2 Average age of life insurance clients ² Average initial retail mutual fund investment 2 Assets in qualified retirement plans ² 2 1. 2017 Primerica Financial Need Analysis Clients 2. Full-year 2017 $66,000 $245,000 37 years $10,800 74% PRIMERICAⓇ#7Significant Opportunity to Serve Middle Income Market 7 U.S. Household Income 25% 47% Primerica's Target Market 28% <$30,000 $30,000 to $100,000 ■>$100,000 U.S. Census Bureau, Census Population Survey 2016 Annual Social and Economic Supplement, last revised August 10, 2017. Based on 126.2 mm households. ~$12 trillion Protection Gap in the Middle Income Market represents significant growth opportunity Middle Income households in the U.S. need ~$12 trillion of life insurance to be properly protected Trillions Primerica's unique distribution model. is designed to efficiently serve middle income families Life Insurance Gap per Middle Income Household, Estimate 2015 40 35 30 25 20 15 10 5 Total Protection Need $12 trillion shortfall Current Assets, Protection & Benefits Middle Market: Household Income between $21k and $112k Aggregate Needs ($ in billions) Aggregate Resources (S in billions) Conning Life-Annuity Consumer Markets Annual, November 2015 PRIMERICAⓇ#8Growth Opportunities Aligned with Demographic Trends Millennials 8 Female Decision- Makers are Growing Diverse Market Growth "Gig Economy" 1 ~93 million millennials make up the largest generation in U.S. history ¹ Primerica's digitized marketing and entrepreneurial culture appeals to millennials 43% of Primerica's life insurance licensed representatives are millennials ² Women are 50% more likely than men to seek help from an investment representative ³ Percentage of households with women as primary financial decision maker will continue to grow 3 31% of Primerica's Regional Vice Presidents (RVPs) are women Diverse markets are expected to grow to ~40% of the U.S. population by 2020 4 Primerica representatives serve clients in their own communities 20% of Primerica's RVPs are African-American and 14% of RVPs are Hispanic 2 1. Census Bureau: National Population Totals and Components of Change, December 2017 2. As of December 31, 2017 2 Number of workers in "Gig Economy" is expected to more than double from 2015 to 2020 5 Primerica offers a low cost and low barrier to entry opportunity to supplement income with a path to become full-time and build a business 3. McKinsey Affluent Consumer Insights Survey 2014 4. U.S. Census 2014 Data Tables 5. Intuit Press Release, August 2015 PRIMERICAⓇ#99 Difficult to Replicate Business Model Variable cost structure enables high volume of small transactions Significant experience underwriting Term Life insurance for middle income market Exclusive independent contractor sales force Representatives are mostly part-time ~5,000 RVPs provide leadership and oversight in offices across North America 1 Extensive communications, training and pre-licensing infrastructure Cutting-edge sales tools and customized sales support Broad controls, supervision and surveillance PRIMERICAⓇ