CIGNA INVESTOR DAY

Non-GAAP measures and other key financial information NON-GAAP MEASURES AND OTHER KEY FINANCIAL INFORMATION Throughout the webcast, the term “earnings" means adjusted income (loss) from operations, “earnings per share" or "EPS" means adjusted income (loss) from operations on a diluted per share basis, and "revenue" means adjusted revenues. Adjusted earnings is defined as adjusted income (loss) from operations which consists of shareholders' net income (loss) excluding the following adjustments: net realized investment results, amortization of acquired intangible assets, and special items. For 2018 and 2019, Cigna also excludes earnings contributions from transitioning pharmacy benefit management clients, Anthem Inc. and Coventry Health Care, Inc. (the "transitioning clients"). Special items are items that management believes are not representative of the underlying results of operations due to the nature or size of these matters, such as integration and transaction related costs and litigation matters. Adjusted income (loss) from operations is measured on an after-tax basis for consolidated results and on a pre-tax basis for segment results. This consolidated measure is not determined in accordance with GAAP and should not be viewed as a substitute for the most directly comparable GAAP measure, shareholders' net income. Adjusted income (loss) from operations is a measure of profitability used by Cigna's management because it presents the underlying results of operations of Cigna's businesses and permits analysis of trends in underlying revenue, expenses and shareholders' net income. Adjusted earnings per share or Adjusted EPS is defined as adjusted income (loss) from operations on a fully diluted basis. Adjusted revenues is defined as total revenues excluding net realized investment results from equity method investments and special items. For 2018 and 2019, Cigna also excludes revenue contributions from transitioning clients. Cigna excludes these items from this measure because they are not indicative of past or future underlying performance of the business. This consolidated measure is not determined in accordance with GAAP and should not be viewed as a substitute for the most directly comparable GAAP measure, total revenues. Additional definitions and relevant reconciliations of Cigna's non-GAAP measures to their most directly comparable GAAP measure are set forth in the appendix to these materials. Note Regarding Outlook The Company's 2021 outlook includes approximately $1.25 per share in net unfavorable impacts of COVID-19, as well as the impact of the agreement to acquire MDLIVE, Inc. The Company's 2021 and long-term outlook includes future share repurchases and anticipated dividends and does not include the potential effects of any other business combinations that may be announced after the date of this presentation and the Investor Day webcast. Management is not able to provide a reconciliation of adjusted income (loss) from operations to shareholders' net income (loss) or adjusted revenues to total revenues on a forward-looking basis because it is unable to predict, without unreasonable effort, certain components thereof including (i) future net realized investment results (from equity method investments with respect to adjusted revenues) and (ii) future special items. These items are inherently uncertain and depend on various factors, many of which are beyond Cigna's control. As such, any associated estimate and its impact on shareholders' net income (loss) and total revenues could vary materially. Note Regarding Dividends and Share Repurchases Cigna currently intends to pay regular quarterly dividends, with future declarations subject to approval by its Board of Directors and the Board's determination that the declaration of dividends remains in the best interests of Cigna and its shareholders. The decision of whether to pay future dividends and the amount of any such dividends will be based on the Company's financial position, results of operations, cash flows, capital requirements, the requirements of applicable law, and any other factors the Board of Directors may deem relevant. The timing and actual number of shares repurchased will depend on a variety of factors, including price, general business and market conditions, and alternate uses of capital. The share repurchase program may be effected through open market purchases in compliance with Rule 10b-18 under the Securities Exchange Act of 1934, as amended, including through Rule 10b5-1 trading plans, or privately negotiated transactions. The program may be suspended or discontinued at any time. © 2021 Cigna Cigna. 3

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