KEMPER Corp
For the period ended May 6, 2026. Filed Mar 25, 2026.
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May 6, 2026 · Filed Mar 25, 2026
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Appendix A-2 - Performance Metrics
The information in this Appendix A-2 describes the calculation of the performance metrics associated with Kemper’s executive compensation programs. This information supplements the disclosures in the Compensation Discussion and Analysis section of the Proxy Statement.
Adjusted Operating Income
| Adjusted Consolidated Net Operating Income ($ millions) | 225.5 |
|---|---|
| Adjustments | |
| Add back: Catastrophe Losses and LAE in excess of Expected Catastrophe Losses and LAE* | (12.6) |
| Adjusted Operating Income | 212.9 |
- Exclude Catastrophe Losses and LAE in excess of Expected Catastrophe Losses and LAE for the Preferred Property and Casualty Insurance business, which is now reported in Non-Core Operations.
Distributable Cash Flow (**)
| Insurance Company Statutory Net Income ($ millions) | 191.6 |
|---|---|
| Estimated GAAP Net Income of Non-Statutory Entities | 1.9 |
| Net Dividends Paid to Kemper Corporation | 489.9 |
| Adjustments | |
| Add back: Catastrophe Losses and LAE in excess of Expected Catastrophe Losses and LAE* | (14.8) |
| Add back: Net impact of significant unusual or nonrecurring items | |
| Adjust for income impact from unrealized gains/losses on fixed maturities with no economic impact at a Kemper consolidated level | (7.4) |
| Adjust for the Florida Profit Limit Refund | 27.7 |
| Total net impact of significant unusual or nonrecurring items | 20.3 |
| Distributable Cash Flow | 688.9 |
** Includes adjustments for Preferred Property and Casualty to plan.
| Three-Year Adjusted Return on Equity | ||||||
|---|---|---|---|---|---|---|
| Net Income · Shareholders’ Equity · ROE | ||||||
| 2023 | 2024 | 2025 | Three-YearAverage | Three-YearAverage | Three-YearAverage | |
| Reported Net Income (Loss) | ($272.1) | $317.8 | $143.3 | $63.0 | $2,656.5 | 2.4% |
| Adjustments, After-tax | ||||||
| Adjust the amount of Actual CAT Losses and LAE to equal Expected CAT Losses and LAE | 15.0 | (1.5) | (12.6) | |||
| Adjust Net Realized Gains on Sales of Investments and Net Impairment Losses Recognized in Earnings to equal Expected Net Realized Gains on Sales of Investments and Expected Net Impairment Losses Recognized in Earnings | 19.2 | (1.2) | 7.9 | |||
| Additional significant unusual or nonrecurring items as permitted by the Plan | 217.8 | 73.2 | 102.3 | |||
| Total Adjustments, After-tax | 252.0 | 70.5 | 97.6 | |||
| Adjusted | ($20.1) | $388.3 | $240.9 | $203.0 | $3,261.2 | 6.2% |
| 2026 PROXY STATEMENT | 81 |
|---|
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