1. Jeff Nielsen Bill Hogan Tom Boisjolie Mark Crowe Dave Hausler Chris Urban Gentri Stinson

2. History: Founded in 1993 as systems Xcellence 2001 acquired Comco Tech Inc, a software company for pharm supply chain 2006 revealed public offering in of common shares in us 2008 acquired National Healthcare Systems Inc & Ascend Specialty RX 2010 acquired Med Fusion RX LLC 2011 acquired Med Metrics Health Parters Inc, PTRX & Save Direct Rx Inc 2012 acquired Health Trans & completed merger with Catalyst Health Solutions & became Catamaran 2013 acquired Restat & announced 10 yr partnership with Cigna CEO: Mark A. Thierer Chairman since March 2011 & Chief Executive Officer since June 2008 (Joined company in 2006)

4. Facts

5. 1.) Industry leading scalable and flexible claims system 2.) Local “centers of excellence” to allow clients direct access to local account management and benefit specialsts 3.) Catamaran does not force members to certain pharmacies, but allow freedom of pharmacy choice 4.) Superior IT tools allow patient risk stratification, real-time reporting, and data mining

6. Pharmacy benefits are connected to medical, lab, behavioral benefits, allowing us to influence all drivers of cost (physicians, pharmacies, pharmaceutical companies, and customers) Integration of pharmacy benefits with medical allows for best in class management of Specialty pharmaceuticals and condition management. Cigna manages total cost of care, not just the cost of the drug. Cigna brings the best of both worlds. We offer all traditional PBM services such as narrow networks, lean formularies, clinical programs, competitive drug discounts PLUS we offer the ability to integrate medical, pharmacy, lab, etc. to drive lower overall healthcare costs.

7. Home office: Schamburg, Illinois Other locations: across the US & Canada Innovative Center in Chicago Currently 32 million customers (includes Healthspring membership, but not Cigna commercial customers)

8. PBM solutions — pharmacy network management, clinical and member programs to manage drug costs using the Company’s own system software and services Web-enabled technology — the Company provides on-line transaction processing and clinical solutions through web-enabled, real-time technology; and Software solutions — licensed software products can be sold in addition to systems implementation and consulting services and maintenance. Catamaran is a scaled alternative to the traditional PBM model Best-in-class technology platform providing unequalled flexibility Unsurpassed, high-touch service model Aggressive management of pharmacy costs through skill and scale Delivering superior, client-centric solutions to healthcare payers

9. Expand the breadth of the Company’s PBM services for health plans, self- insured employers and government agencies that sponsor pharmacy benefit plans Target Fortune 500 employers: Provide additional PBM services to the Company’s existing payor customer base: Target large public sector fee-for-service opportunities: Continue to target Medicare Part D opportunities: Aggressively pursue large health plan technology upgrades: Pursue strategic acquisition opportunities: Continue to expand and adapt capabilities to create opportunities related to healthcare reform: Continue to evolve and expand the specialty offering: Broaden the Company’s services, technology and markets through next generation growth opportunities

10. The Company believes that the following competitive strengths are the keys to its success: Flexible, customized and independent services Leading technology and platform Measurable cost savings for customers

11. Competition in our industry is intense and could reduce or eliminate our profitability. We are dependent on key customers. Our contract with Cigna exposes us to several risks and challenges due to the size of the client and the complexity and long-term nature of the agreement. Demands by our customers for enhanced service levels or possible loss or unfavorable modification of contracts with our customers could negatively affect our profitability. Due to the term of our contracts with customers, if we are unable to renew those contracts at the same service levels previously provided, or at all, or replace any lost customers, our future business and results of operations would be adversely affected. Consolidation in the healthcare industry could materially adversely affect our business, financial condition and results of operations.

12. Our business strategy of expansion through acquisitions may result in unexpected integration costs and challenges, loss of acquired business and/or dilution to existing shareholders. Our future success depends upon the ability to grow, and if we are unable to manage our growth effectively, we may incur unexpected expenses and be unable to meet our customers’ requirements. Changes in the industry pricing benchmarks could adversely affect our financial performance. If we lose our relationship, or our relationship otherwise changes in an unfavorable manner, with one or more key pharmacy providers, or if significant changes occur within the pharmacy provider marketplace, or if other issues arise with respect to our pharmacy networks, our business could be impaired.

13. CatarmaranCigna Componentin 1,000'sin MillionsMetric Cash & Cash Equiv 387,241 2,795Cash Net Cash Provided by Operating Activities 475,421 719Cash Flow Total Revenues 14,780,094 32,380Total Revenues Income Before Taxes 402,142 2,176Operating Profit Income Before Taxes & Total Revenues2.7%6.7%Operating Profit Margin Shareholders' Net Income 298,739 1,476Net Profit Shareholders' Net Income & Total Revenues2.0%4.6%Net Profit Margin Diluted Earnings Per Share $ 1.27 $ 5.18Earnings Per Share Shareholders' Net Income & Total Shareholders Equity6.1%13.9%Return on Equity Total Revenues (2012-2013)48.7%11.2%Revenue Growth Shareholders' Net Income (2012-2013)146.8%-9.1%Net Income Growth Shareholders' Net Income Per Share Diluted EPS (2012- 2013)81.4%-7.7%Earnings Per Share Growth

14. Pharmacy benefits manager (PBM) that offers: Pharmaceutical contracting Claim processing and adjudication Rebate billing Cdhp fund contribution Cross line of business accumulator sharing Services and accuracy of services are conveyed to customers as Cigna pharmacy

15. Catamaran influences Cigna's financial performance in several key ways: Pharmaceutical contracting will impact expenses. Strong contracting can be concluded when the network of pharmacies maintained are expansive and the rates associated to each drug class are competitive. Rebate Billing will result in revenue for Cigna obtains from the drug companies. Handling of Consumer Driven Health Plan (CDHP) funds when done accurately with will help drive down the volume of calls to the call center thus decreasing operating expenses. Handling of Cross Line of Business accumulator sharing when done accurately with will help drive down the volume of calls to the call center thus decreasing operating expenses. Claim pricing and adjudication is associated to the contracting piece. Claim pricing and adjudication uses the detail of the contract and determine what portion of the prescription cost is owed by the member and owed by the plan (Cigna)

16. Main growth strategy: Acquiring small companies Future success depends upon the ability to grow, and if they are unable to manage our growth effectively, they may incur unexpected expenses and be unable to meet their customers’ requirements.