1. F O R I N T E R N A L U S E O N L Y Lisa Greenwood Tracy Sirois Harry Giglio Nadia Mohanty

2. F O R I N T E R N A L U S E O N L Y Company History CEO: –Michael B. McCallister – retired as CEO at the end of 2012 after 13 years –Succeeded by Bruce D. Broussard – President and CEO Operates in three segments: –Retail –Employer –Health & Well Being Services Membership Numbers (as of end of 2012): –12 Million Medical Members –8 Million Specialty Health Plan Members Interesting Facts: –UHC attempted to acquire Humana in 1998. Acquisition fell through due UCH reporting nearly a billion dollar quarterly loss. –Health plans available in 16 states and Puerto Rico. –Scored 79 of Computerworld’s 100 Best Places to Work in IT. 2 Confidential, unpublished property of Cigna. Do not duplicate or distribute. Use and distribution limited solely to authorized personnel. © 2012 Cigna

3. F O R I N T E R N A L U S E O N L Y Products and Services Retail –Medicare & Commercially Insured Medical & Specialty Health Insurance Benefits –Includes Medical, Dental, Vision, Supplemental Health, & Financial Protection Products –Marketed to Individual Customers Directly Employer –Medicare & Commercially Insured Medical & Specialty Health Insurance Benefits –Includes Medical, Dental, Vision, Supplemental Health, & Financial Protection Products –Also Offers Administrative Services Only (ASO) –Marketed to Employer Groups Health & Well-Being Services –Integrated Care Delivery Model –Certify’s HealthLogix™ –HumanaVitality® –Availity, LLC Other –Military Services –Department of Defense’s TRICARE® Program – South Region 3 Confidential, unpublished property of Cigna. Do not duplicate or distribute. Use and distribution limited solely to authorized personnel. © 2012 Cigna

4. F O R I N T E R N A L U S E O N L Y Humana’s Key Competencies HMO / Integrated Care Delivery Model Medicaid / Medicare Prepared for Health Care Reform Initiatives 4 Confidential, unpublished property of Cigna. Do not duplicate or distribute. Use and distribution limited solely to authorized personnel. © 2012 Cigna

5. F O R I N T E R N A L U S E O N L Y Humana vs. Cigna HumanaCigna Large Medicare Population (2M)Small, but growing Medicare Population Large HMO PopulationLarge PPO Population Health Plans in 16 States & Puerto RicoGlobal Health Services Company JD Power 2013 Employer Satisfaction Index Rating – Fully Insured: 693 JD Power 2013 Employer Satisfaction Index Rating – Fully Insured: 737 2012 Web Experience Satisfaction: 29%2012 Web Experience Satisfaction: 32% Operating Profit: 4.9%Operating Profit: 48.5% 5 Confidential, unpublished property of Cigna. Do not duplicate or distribute. Use and distribution limited solely to authorized personnel. © 2012 Cigna

6. F O R I N T E R N A L U S E O N L Y Financial Summary 6 Confidential, unpublished property of Cigna. Do not duplicate or distribute. Use and distribution limited solely to authorized personnel. © 2012 Cigna Cigna stock price increasing at greater rate. Earnings per Share growth (Cigna 22.2% vs.76%) Financial Metric CignaHumana Cash2.9781.306 Total Revenue 29.11939.126 Operating Profit 8.9%4.9% -Cigna cash flow nearly two and a half times Humana (liquidity advantage) -While total revue for Humana is 10B greater, Cigna’s operating profits indicate stronger income from Operations Humana 70.52 (7/12) Cigna 41.39 (7/12)

7. F O R I N T E R N A L U S E O N L Y 5 Drivers Number one priority: –Grow Membership (People) –Expand Provider Base 7 Confidential, unpublished property of Cigna. Do not duplicate or distribute. Use and distribution limited solely to authorized personnel. © 2012 Cigna

8. F O R I N T E R N A L U S E O N L Y What Can Cigna Learn Medicare/Medicaid Line of Business Humana has more experience and continued growth in the Medicare and Medicaid Services, as indicated by their Medicare Advantage Star quality ratings. Cigna is newer to this line of business and might benefit from a look into Humana’s success factors in this market, so that our acquisition of HealthSpring can continue to grow. Focus on Primary Care Physician Humana “puts the PCP at the center of our integrated care delivery model”. Cigna “puts our customers at the center of everything we do”. Although one may not be “better” than the other, Cigna can ensure that there is a balance in focus to ensure both customer and provider satisfaction. Financials Humana’s revenue is slightly higher than Cigna’s. This could be attributed to their larger Medicare/Medicaid market; however, Cigna’s Shareholder Net Income is slightly higher than Humana’s. 8 Confidential, unpublished property of Cigna. Do not duplicate or distribute. Use and distribution limited solely to authorized personnel. © 2012 Cigna

9. F O R I N T E R N A L U S E O N L Y "Cigna" is a registered service mark and the "Tree of Life" logo and “GO YOU” are service marks of Cigna Intellectual Property, Inc., licensed for use by Cigna Corporation and its operating subsidiaries. All products and services are provided by such operating subsidiaries and not by Cigna Corporation. Such operating subsidiaries include Connecticut General Life Insurance Company, Cigna Health and Life Insurance Company, and HMO or service company subsidiaries of Cigna Health Corporation and Cigna Dental Health, Inc. All models are used for illustrative purposes only. 000000 00/12 © 2012 Cigna. Some content provided under license.