August 2023 Investor Overview Presentation

Investor Overview

August 2023

Important Legal Information

Forward-Looking Statements

Certain statements made in this presentation should be considered forward-looking statements as defined in the Private Securities Litigation Reform Act of 1995. These include statements about future results of operations and capital plans. We caution investors that these forward-looking statements are not guarantees of future performance, and actual results may differ materially. Investors should consider the important risks and uncertainties that may cause actual results to differ, including those included in our press release issued on July 31, 2023, our Quarterly Reports on Form 10-Q, our Annual Report on Form 10-K and other filings we make with the Securities and Exchange Commission. We assume no obligation to update this presentation, which speaks as of its date of publication unless an earlier date is indicated.

Non-GAAP Measures

This presentation contains financial measures that differ from the comparable measures under Generally Accepted Accounting Principles (GAAP). Reconciliations between those non-GAAP measures and the comparable GAAP measures are included in the Appendix, or on the page such measure is presented.

While management believes the measures are useful to enhance understanding and comparability of our financial results, these non-GAAP measures should not be considered substitutes for the most directly comparable GAAP measures.

Additional information concerning non-GAAP measures is included in our periodic filings with the Securities and Exchange Commission that are available in the "Investors - Financials - SEC Filings" section of CNO's website, CNOinc.com.

Adoption of New Accounting Standard

Effective January 1, 2023, we adopted ASU 2018-12 related to targeted improvements to the accounting for long-duration insurance contracts. Concurrent with the adoption of the new guidance, we updated the method of determining non- operating earnings for our fixed indexed annuities to better identify the volatile non-economic accounting impacts of that line of business. As a result of the adoption of the new guidance and methodology, certain historical amounts have changed. Our quarterly financial supplement - 4Q22 as recast to reflect the new standard is available in the "Investors - Financials - Quarterly Earnings" section of CNO's website, CNOinc.com.

CNO Financial Group Overview

Focused on serving the protection needs of the fast-growing but underserved middle-income American market

• Manufactured products include life, fixed annuities, Medicare supplement, supplemental health and limited benefit duration long-term care (LTC)
• Distribution of third-party products, which primarily include Medicare Advantage and Prescription Drug Plans
• Demonstrated growth in premiums and third-party fees

2Q23 Average Liabilities by

• Net insurance liabilities are equal to: (i) policyholder account balances for annuity products; (ii) total reserves before the fair value adjustments reflected in accumulated other comprehensive income (loss), if applicable, for all other products; less (iii) amounts related to reinsurance business; (iv) deferred acquisition costs; (v) the present value of future profits; and (vi) the value of unexpired options credited to insurance liabilities.

Strong Cash Flow Generation

Well-Positioned in the Attractive Senior Middle Market

~45% of middle-income households have no life insurance1; ~55% of baby boomers lack financial advisors2

1. LIMRA 2021 Barometer Study
2. 2021 Forrester Analytics Technographics
3. LIMRA 2021 Consumer Perspective on Long Term Care and Insurance; includes all age ranges, not just 65+
4. Medicare Market Competition, Mark Farrah 2020, Year Over Year Medicare Supplement Market Snapshot and Plan Performance Insight, Mark Farrah 2021; includes people who are eligible for Medicare due to disability, not just 65+