Financial Performance and Risk Management Overview

CONSERVATIVE AND DIVERSIFIED INVESTMENT PORTFOLIO PORTFOLIO HIGHLIGHTS DIVERSE ASSET ALLOCATION FIXED INCOME PORTFOLIO(1) BB 1% 82% of portfolio in high quality fixed income securities 82% of the preferred stocks in the portfolio being rated "P2L" or better Comprised primarily of short- duration investments Our investment portfolio sector mix is concentrated in the secure and liquid government and financials sectors ~$160M of net investment income expected in 2023 1% 0.2% 3% 77% A 1% 11% 6% ■Cash and cash eq. ■Bonds ■Common stocks ■Commercial loans $5.0B ■Short-term investments ■Preferred stocks ■ Pooled funds 22% BBB 15% AA 29% $3.9B 84% of the bonds in our portfolio are rated "A-" or better Note: Data as of March 31, 2023, unless otherwise noted. 1. Using the lowest of S&P and DBRS ratings. AAA 33% definity. 24

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