Strategy to Drive Stockholder Value

14 Potential Exposure to the DOL's Proposed Rule Investment and Savings Products by Region and Plan in 2014 Investment and Savings Products Operating Income before Income taxes in 2014 Average Asset Values Revenue Generating Product Sales U.S. Qualified Retirement Plan 60% 60% U.S. Non-Qualified Plan 22% 25% Canada Non-Qualified Plan Client Values 6% 7% Canada Qualified Retirement Plan 13% 8% 1) 2) 14% $21 million 40% $58 million $35 million 24% $32 million Average Client Asset Values in 2014 = $46.94 billion Revenue Generating Product Sales in 2014 = $5.18 billion Notes: • Qualified Retirement Plans are defined as tax advantaged Investments including IRAS, 403b, SEP, and employer benefit plans. ⚫ Percentages above are best estimates using available information from product providers. Where data was not available, an approximation was made based on known percentages. • On a Total product sales basis the composition of sales is as follows: U.S. Qualified Retirement Plan 58%, U.S. Non-Qualified Plan 25%, Canada Qualified Retirement Plan 10%, Canada Non-Qualified Retirement Plan 8% US CAN Total 2014 Net Revenue Percentage Sales (1) 1.41% 1.02% 1.34% Average Assets (2) (Annualized) 0.15% 0.50% 0.21% Net revenue is defined as commission and fee revenue less commissions paid to the sales force based on product sales activity Net revenue is defined as commission and fee revenue less: (i) commissions paid to the sales force based on product account values including amortization of deferred acquisition costs for segregated funds and (ii) administrative and advisory fees based on client asset values. 22% Note: These figures are estimates and assign other operating expenses that are not directly tied to a revenue stream using reasonable estimates of what could be exposed to varying degrees of DOL impact Earnings from sales and client assets not impacted by DOL rule: Canadian ISP Managed Accounts Non-Qualified Accounts Accounts-based earnings, most of which we believe can be preserved through the transition provisions or adjustments to fee structure Asset-based earnings from U.S. qualified retirement plans should remain largely in tact near term but will be pressured over time Sales-based earnings from U.S. qualified retirement plans that are at risk dependent on the final rule and/or our ability to execute investment alternatives PRIMERICA

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