The following table sets forth the calculation of basic and diluted net earnings (loss) per common share ($ in millions, except per share data in dollars and shares in thousands):


	Three Months Ended September 30,				Nine Months Ended September 30,
	2026		2025		2026		2025

Earnings (loss) attributable to Centene Corporation	$	(71)	$	(6,631)	$	2,561	$	(5,573)

Shares used in computing per share amounts:
Weighted average number of common shares outstanding	494,143		491,141		493,351		493,644
Common stock equivalents (as determined by applying the treasury stock method)	—		—		4,292		—
Weighted average number of common shares and potential dilutive common shares outstanding	494,143		491,141		497,643		493,644

Net earnings (loss) per common share attributable to Centene Corporation:
Basic earnings (loss) per common share	$	(0.14)	$	(13.50)	$	5.19	$	(11.29)
Diluted earnings (loss) per common share	$	(0.14)	$	(13.50)	$	5.15	$	(11.29)

The calculation of diluted loss per common share for the three months ended September 30, 2026 excludes 5,553 thousand shares related to stock options and restricted stock units as their effect would have been anti-dilutive due to the net loss for the quarter. The calculation of diluted loss per common share for the three months ended September 30, 2025 excludes 6,930 thousand shares related to stock options and restricted stock units as their effect would have been anti-dilutive due to the net loss for the quarter.

The calculation of diluted earnings per common share for the nine months ended September 30, 2026 excludes 907 thousand shares related to anti-dilutive stock options and restricted stock units. The calculation of diluted loss per common share for the nine months ended September 30, 2025 excludes 5,302 thousand shares related to stock options and restricted stock units as their effect would have been anti-dilutive due to the net loss for the nine month period.