EX-99.2

     Balance Sheets and Reconciliation of Balance Sheet Non-GAAP to GAAP Financial Measures

     PRIMERICA, INC.
Financial Supplement


(Dollars in thousands)				Mar 31, 2025			Jun 30, 2025			Sep 30, 2025			Dec 31, 2025			Mar 31, 2026			Jun 30, 2026			Sep 30, 2026			Dec 31, 2026
Balance Sheets
Assets:
	Investments and cash excluding securities held to maturity			$	3,784,534		$	3,798,697		$	3,885,589		$	4,116,941		$	4,206,352		$	4,259,192		$	4,221,538
	Securities held to maturity				1,285,340			1,258,800			1,241,540			1,175,380			1,130,730			1,073,520			1,018,380
			Total investments and cash		5,069,874			5,057,497			5,127,129			5,292,321			5,337,082			5,332,712			5,239,918
	Reinsurance recoverables				2,722,544			2,698,144			2,596,597			2,564,952			2,480,051			2,450,745			2,287,256
	Deferred policy acquisition costs				3,742,693			3,817,119			3,863,442			3,915,998			3,954,334			3,991,486			4,032,097
	Other assets				935,802			938,583			946,717			957,544			783,400			850,498			816,315
	Separate account assets				2,118,098			2,318,492			2,313,874			2,281,520			2,122,558			2,156,498			2,103,941
			Total assets	$	14,589,010		$	14,829,834		$	14,847,759		$	15,012,336		$	14,677,426		$	14,781,939		$	14,479,528

Liabilities:
	Future policy benefits			$	6,637,937		$	6,719,044		$	6,816,778		$	6,818,179		$	6,728,920		$	6,803,364		$	6,286,925
	Other policy liabilities				907,038			906,558			862,242			867,305			848,328			849,968			835,184
	Other liabilities				692,224			641,378			618,061			744,121			646,724			691,570			732,615
	Debt obligations				594,713			594,913			595,114			595,315			595,516			595,716			595,917
	Surplus note				1,285,032			1,258,508			1,241,263			1,175,119			1,130,485			1,073,291			1,018,167
	Payable under securities lending				97,560			83,425			104,535			84,876			85,020			88,579			80,185
	Separate account liabilities				2,118,098			2,318,492			2,313,874			2,281,520			2,122,558			2,156,498			2,103,941
			Total liabilities		12,332,601			12,522,318			12,551,868			12,566,435			12,157,552			12,258,986			11,652,934

Stockholders’ equity:
	Common stock ($0.01 par value) (1)				330			325			321			318			313			309			305
	Paid-in capital				—			—			—			—			—			—			—
	Retained earnings				2,253,435			2,270,996			2,319,750			2,416,149			2,440,207			2,473,436			2,527,210
	Accumulated other comprehensive income (loss), net:
		Net unrealized gains (losses)			(133,764	)		(124,629	)		(91,680	)		(89,323	)		(121,051	)		(110,635	)		(220,293	)
		Effect of change in discount rate assumptions on the liability for future policy benefits			171,599			174,626			89,692			134,594			223,792			190,796			550,437
		Cumulative translation adjustment			(35,191	)		(13,803	)		(22,191	)		(15,836	)		(23,388	)		(30,952	)		(31,065	)
			Total stockholders’ equity		2,256,409			2,307,516			2,295,892			2,445,901			2,519,874			2,522,953			2,826,594
			Total liabilities and stockholders' equity	$	14,589,010		$	14,829,834		$	14,847,759		$	15,012,336		$	14,677,426		$	14,781,939		$	14,479,528

Reconciliation of Total Stockholders' Equity to Adjusted Stockholders' Equity
Total stockholders' equity				$	2,256,409		$	2,307,516		$	2,295,892		$	2,445,901		$	2,519,874		$	2,522,953		$	2,826,594
	Less: Net unrealized gains (losses)				(133,764	)		(124,629	)		(91,680	)		(89,323	)		(121,051	)		(110,635	)		(220,293	)
	Less: Effect of change in discount rate assumptions on the liability for future policy benefits				171,599			174,626			89,692			134,594			223,792			190,796			550,437
			Adjusted stockholders’ equity	$	2,218,574		$	2,257,519		$	2,297,880		$	2,400,630		$	2,417,133		$	2,442,793		$	2,496,450

Adjusted Stockholders' Equity Rollforward
Balance, beginning of period				$	2,197,050		$	2,218,574		$	2,257,519		$	2,297,880		$	2,400,630		$	2,417,133		$	2,442,793
	Net Income				169,051			178,344			206,793			197,047			190,096			202,278			209,127
	Shareholder dividends				(34,736	)		(34,209	)		(33,819	)		(33,288	)		(38,117	)		(37,480	)		(37,062	)
	Retirement of shares				(126,637	)		(129,124	)		(129,000	)		(74,654	)		(140,974	)		(135,295	)		(122,094	)
	Net foreign currency translation adjustment				(424	)		21,388			(8,388	)		6,355			(7,551	)		(7,565	)		(113	)
	Other, net				14,270			2,546			4,775			7,291			13,049			3,722			3,799
Balance, end of period				$	2,218,574		$	2,257,519		$	2,297,880		$	2,400,630		$	2,417,133		$	2,442,793		$	2,496,450

Deferred Policy Acquisition Costs Rollforward
Balance, beginning of period				$	3,680,430		$	3,742,693		$	3,817,119		$	3,863,442		$	3,915,998		$	3,954,334		$	3,991,486
	General expenses deferred				10,883			11,605			11,235			10,368			11,363			10,958			11,113
	Commission costs deferred				130,162			126,272			122,850			120,125			117,128			116,730			116,376
	Amortization of deferred policy acquisition costs				(78,550	)		(80,043	)		(81,498	)		(82,813	)		(84,260	)		(85,128	)		(86,592	)
	Foreign currency impact and other, net				(232	)		16,592			(6,263	)		4,876			(5,895	)		(5,409	)		(285	)
Balance, end of period				$	3,742,693		$	3,817,119		$	3,863,442		$	3,915,998		$	3,954,334		$	3,991,486		$	4,032,097

(1)

Outstanding common shares exclude restricted stock units.

     Financial Results and Other Statistical Data

     PRIMERICA, INC.
Financial Supplement


																									YOY Q3												YOY YTD
(Dollars in thousands, except per-share data)			Q1 2025			Q2 2025			Q3 2025			Q4 2025			Q1 2026			Q2 2026			Q3 2026			Q4 2026	$ Change			% Change			YTD 2025			YTD 2026			$ Change			% Change
Earnings per Share
Basic earnings per share:
	Weighted-average common shares and fully vested equity awards			33,292,459			32,870,061			32,404,112			31,978,688			31,680,718			31,195,872			30,774,760				(1,629,352	)		-5.0	%		32,852,290			31,213,798			(1,638,492	)		-5.0	%

	Net income		$	169,051		$	178,344		$	206,793		$	197,047		$	190,096		$	202,278		$	209,127			$	2,334			1.1	%	$	554,187		$	601,501		$	47,314			8.5	%
	Less income attributable to unvested participating securities			(585	)		(572	)		(678	)		(606	)		(626	)		(684	)		(728	)			(49	)		-7.2	%		(1,837	)		(2,036	)		(198	)		-10.8	%
		Net income used in computing basic EPS	$	168,466		$	177,772		$	206,114		$	196,441		$	189,470		$	201,594		$	208,399			$	2,285			1.1	%	$	552,350		$	599,466		$	47,116			8.5	%
		Basic earnings per share	$	5.06		$	5.41		$	6.36		$	6.14		$	5.98		$	6.46		$	6.77			$	0.41			6.4	%	$	16.81		$	19.21		$	2.40			14.3	%

	Adjusted net operating income		$	168,068		$	180,385		$	206,052		$	196,907		$	189,794		$	200,954		$	209,257			$	3,205			1.6	%	$	554,505		$	600,006		$	45,501			8.2	%
	Less operating income attributable to unvested participating securities			(581	)		(579	)		(676	)		(605	)		(625	)		(679	)		(728	)			(52	)		-7.7	%		(1,838	)		(2,030	)		(192	)		-10.4	%
		Adjusted net operating income used in computing basic operating EPS	$	167,487		$	179,806		$	205,376		$	196,302		$	189,170		$	200,274		$	208,529			$	3,153			1.5	%	$	552,666		$	597,975		$	45,309			8.2	%
		Basic adjusted operating income per share	$	5.03		$	5.47		$	6.34		$	6.14		$	5.97		$	6.42		$	6.78			$	0.44			6.9	%	$	16.82		$	19.16		$	2.34			13.9	%

Diluted earnings per share:
	Weighted-average common shares and fully vested equity awards			33,292,459			32,870,061			32,404,112			31,978,688			31,680,718			31,195,872			30,774,760				(1,629,352	)		-5.0	%		32,852,290			31,213,798			(1,638,492	)		-5.0	%
	Dilutive impact of contingently issuable shares			49,670			41,352			47,284			53,183			46,818			40,702			44,908				(2,376	)		-5.0	%		46,102			44,143			(1,959	)		-4.2	%
		Shares used to calculate diluted EPS		33,342,129			32,911,413			32,451,396			32,031,871			31,727,536			31,236,574			30,819,669				(1,631,728	)		-5.0	%		32,898,392			31,257,941			(1,640,451	)		-5.0	%

	Net income		$	169,051		$	178,344		$	206,793		$	197,047		$	190,096		$	202,278		$	209,127			$	2,334			1.1	%	$	554,187		$	601,501		$	47,314			8.5	%
	Less income attributable to unvested participating securities			(584	)		(571	)		(678	)		(605	)		(625	)		(683	)		(727	)			(49	)		-7.3	%		(1,835	)		(2,033	)		(198	)		-10.8	%
		Net income used in computing diluted EPS	$	168,467		$	177,772		$	206,115		$	196,442		$	189,471		$	201,595		$	208,400			$	2,285			1.1	%	$	552,352		$	599,468		$	47,116			8.5	%
		Diluted earnings per share	$	5.05		$	5.40		$	6.35		$	6.13		$	5.97		$	6.45		$	6.76			$	0.41			6.5	%	$	16.79		$	19.18		$	2.39			14.2	%

	Adjusted net operating income		$	168,068		$	180,385		$	206,052		$	196,907		$	189,794		$	200,954		$	209,257			$	3,205			1.6	%	$	554,505		$	600,006		$	45,501			8.2	%
	Less operating income attributable to unvested participating securities			(580	)		(578	)		(675	)		(604	)		(624	)		(679	)		(727	)			(52	)		-7.7	%		(1,836	)		(2,028	)		(192	)		-10.4	%
		Adjusted net operating income used in computing diluted operating EPS	$	167,487		$	179,807		$	205,377		$	196,303		$	189,170		$	200,275		$	208,530			$	3,153			1.5	%	$	552,668		$	597,978		$	45,309			8.2	%
		Diluted adjusted operating income per share	$	5.02		$	5.46		$	6.33		$	6.13		$	5.96		$	6.41		$	6.77			$	0.44			7.0	%	$	16.80		$	19.13		$	2.33			13.9	%

Annualized Return on Equity
	Average stockholders' equity		$	2,257,725		$	2,281,963		$	2,301,704		$	2,370,896		$	2,482,888		$	2,521,414		$	2,674,774			$	373,070			16.2	%	$	2,280,464		$	2,559,692		$	279,228			12.2	%
	Average adjusted stockholders' equity		$	2,207,812		$	2,238,047		$	2,277,699		$	2,349,255		$	2,408,882		$	2,429,963		$	2,469,622			$	191,922			8.4	%	$	2,241,186		$	2,436,155		$	194,969			8.7	%

	Net income return on stockholders' equity			30.0	%		31.3	%		35.9	%		33.2	%		30.6	%		32.1	%		31.3	%			-4.7	%	nm				32.4	%		31.3	%		-1.1	%	nm
	Net income return on adjusted stockholders' equity			30.6	%		31.9	%		36.3	%		33.6	%		31.6	%		33.3	%		33.9	%			-2.4	%	nm				33.0	%		32.9	%		0.0	%	nm

	Adjusted net operating income return on adjusted stockholders' equity			30.4	%		32.2	%		36.2	%		33.5	%		31.5	%		33.1	%		33.9	%			-2.3	%	nm				33.0	%		32.8	%		-0.1	%	nm

Capital Structure
	Debt-to-capital (1)			20.9	%		20.5	%		20.6	%		19.6	%		19.1	%		19.1	%		17.4	%			-3.2	%	nm				20.6	%		17.4	%		-3.2	%	nm
	Debt-to-capital, excluding AOCI (1)			20.9	%		20.8	%		20.4	%		19.8	%		19.6	%		19.4	%		19.1	%			-1.3	%	nm				20.4	%		19.1	%		-1.3	%	nm

	Cash and invested assets to stockholders' equity			2.2	x		2.2	x		2.2	x		2.2	x		2.1	x		2.1	x		1.9	x			(0.4	x)	nm				2.2	x		1.9	x		(0.4	x)	nm
	Cash and invested assets to adjusted stockholders' equity			2.3	x		2.2	x		2.2	x		2.2	x		2.2	x		2.2	x		2.1	x			(0.1	x)	nm				2.2	x		2.1	x		(0.1	x)	nm

	Share count, end of period (2)			33,022,554			32,545,209			32,075,564			31,809,803			31,343,338			30,898,185			30,501,818				(1,573,746	)		-4.9	%		32,075,564			30,501,818			(1,573,746	)		-4.9	%
	Adjusted stockholders' equity per share		$	67.18		$	69.37		$	71.64		$	75.47		$	77.12		$	79.06		$	81.85			$	10.21			14.2	%	$	71.64		$	81.85		$	10.21			14.2	%

Financial Strength Ratings - Primerica Life Insurance Co
	Moody's		A1			A1			A1			A1			A1			A1			A1				na			na			na			na			na			na
	S&P		AA-			AA-			AA-			AA-			AA-			AA-			AA-				na			na			na			na			na			na
	A.M. Best		A+			A+			A+			A+			A+			A+			A+				na			na			na			na			na			na

Holding Company Senior Debt Ratings
	Moody's		Baa1			Baa1			Baa1			Baa1			Baa1			Baa1			Baa1				na			na			na			na			na			na
	S&P		A-			A-			A-			A-			A-			A-			A-				na			na			na			na			na			na
	A.M. Best		a-			a-			a-			a-			a-			a-			a-				na			na			na			na			na			na

(1)

Debt-to-capital is that of the parent company only. Capital in the debt-to-capital ratio includes stockholders' equity and the note payable.

(2)

Share count reflects outstanding common shares, which excludes restricted stock units (RSUs).

     Statements of Income

     PRIMERICA, INC.
Financial Supplement


																									YOY Q3												YOY YTD
(Dollars in thousands)			Q1 2025			Q2 2025			Q3 2025			Q4 2025			Q1 2026			Q2 2026			Q3 2026			Q4 2026	$ Change			% Change			YTD 2025			YTD 2026			$ Change			% Change
Statements of Income
Revenues:
	Direct premiums		$	858,845		$	866,254		$	868,651		$	869,030		$	871,246		$	877,754		$	876,839			$	8,188			0.9	%	$	2,593,750		$	2,625,838		$	32,088			1.2	%
	Ceded premiums			(410,521	)		(433,408	)		(414,104	)		(420,843	)		(414,859	)		(442,280	)		(423,209	)			(9,105	)		-2.2	%		(1,258,034	)		(1,280,348	)		(22,314	)		-1.8	%
		Net premiums		448,323			432,846			454,547			448,187			456,387			435,473			453,630				(917	)		-0.2	%		1,335,716			1,345,490			9,774			0.7	%
	Net investment income			41,671			40,928			42,431			42,122			43,283			43,738			45,740				3,310			7.8	%		125,030			132,761			7,731			6.2	%
	Commissions and fees:
		Sales-based (1)		111,270			115,933			118,637			131,305			136,355			135,509			140,822				22,185			18.7	%		345,841			412,686			66,845			19.3	%
		Asset-based (2)		152,014			154,735			172,286			181,407			187,366			197,598			209,261				36,974			21.5	%		479,036			594,226			115,190			24.0	%
		Account-based (3)		24,195			24,394			24,420			24,347			23,619			24,118			24,514				93			0.4	%		73,008			72,251			(758	)		-1.0	%
		Other commissions and fees		9,477			10,970			10,146			10,326			9,401			11,385			12,121				1,975			19.5	%		30,594			32,907			2,313			7.6	%
	Investment (losses) gains			757			(2,866	)		652			641			396			1,691			(169	)			(822	)	nm				(1,457	)		1,917			3,374		nm
	Other, net			17,135			16,394			16,732			15,347			15,886			15,554			15,736				(996	)		-6.0	%		50,261			47,176			(3,086	)		-6.1	%
	Total revenues			804,843			793,334			839,852			853,683			872,693			865,066			901,654				61,802			7.4	%		2,438,029			2,639,413			201,384			8.3	%
Benefits and expenses:
	Benefits and claims			174,862			152,494			172,152			166,420			171,254			147,328			167,452				(4,700	)		-2.7	%		499,507			486,034			(13,474	)		-2.7	%
	Future policy benefits remeasurement (gain)/loss			(3,273	)		(5,895	)		(23,114	)		(5,107	)		(7,377	)		(5,038	)		(11,833	)			11,281			48.8	%		(32,282	)		(24,248	)		8,034			24.9	%
	Amortization of DAC			78,550			80,043			81,498			82,813			84,260			85,128			86,592				5,093			6.2	%		240,091			255,979			15,889			6.6	%
	Insurance commissions			6,124			5,751			5,499			5,621			5,618			5,778			6,070				571			10.4	%		17,374			17,466			92			0.5	%
	Insurance expenses			64,805			64,362			64,131			70,168			66,567			71,159			70,357				6,225			9.7	%		193,299			208,083			14,784			7.6	%
	Sales commissions:
		Sales-based (1)		77,267			82,935			82,867			89,561			95,168			95,816			98,767				15,900			19.2	%		243,069			289,751			46,682			19.2	%
		Asset-based (2)		76,246			78,010			87,337			93,247			95,360			100,677			106,518				19,181			22.0	%		241,593			302,555			60,962			25.2	%
		Other sales commissions		4,605			5,346			4,484			5,015			4,682			5,431			5,631				1,147			25.6	%		14,435			15,744			1,309			9.1	%
	Interest expense			6,004			6,000			5,985			5,968			5,861			5,833			5,750				(235	)		-3.9	%		17,990			17,443			(546	)		-3.0	%
	Other operating expenses			98,338			89,792			87,333			92,904			101,882			94,736			94,438				7,105			8.1	%		275,463			291,056			15,593			5.7	%
	Total benefits and expenses			583,528			558,838			568,173			606,609			623,275			606,847			629,742				61,569			10.8	%		1,710,539			1,859,864			149,325			8.7	%
	Income before income taxes			221,315			234,496			271,679			247,074			249,418			258,219			271,912				234			0.1	%		727,490			779,550			52,060			7.2	%
		Income taxes		52,264			56,153			64,886			50,027			59,322			55,941			62,785				(2,101	)		-3.2	%		173,303			178,048			4,745			2.7	%
	Net Income			169,051			178,344			206,793			197,047			190,096			202,278			209,127				2,334			1.1	%		554,187			601,501			47,314			8.5	%

Income Before Income Taxes by Segment
Term Life Insurance			$	146,785		$	155,012		$	172,684		$	146,578		$	154,859		$	148,480		$	152,692			$	(19,993	)		-11.6	%	$	474,482		$	456,031		$	(18,451	)		-3.9	%
Investment & Savings Products				81,270			79,420			94,223			100,609			100,900			104,216			114,054				19,830			21.0	%		254,914			319,169			64,254			25.2	%
Corporate & Other Distributed Products				(6,741	)		64			4,771			(113	)		(6,340	)		5,523			5,167				396			8.3	%		(1,906	)		4,350			6,256		nm
	Income before income taxes		$	221,315		$	234,496		$	271,679		$	247,074		$	249,418		$	258,219		$	271,912			$	234			0.1	%	$	727,490		$	779,550		$	52,060			7.2	%

(1)

Sales-based - revenues or commission expenses relating to the sales of mutual funds and variable annuities.

(2)

Asset-based - revenues or commission expenses relating to the value of assets in client accounts for which we earn ongoing service, distribution, and other fees.

(3)

Account-based - revenues relating to the fee generating client accounts we administer.

     Reconciliation of Statement of Income GAAP to Non-GAAP Financial Measures

     PRIMERICA, INC.
Financial Supplement


																								YOY Q3												YOY YTD
(Dollars in thousands)		Q1 2025			Q2 2025			Q3 2025			Q4 2025			Q1 2026			Q2 2026			Q3 2026			Q4 2026	$ Change			% Change			YTD 2025			YTD 2026			$ Change			% Change
Reconciliation from Term Life Insurance Direct Premiums to Term Life Insurance Adjusted Direct Premiums
	Term Life Insurance direct premiums	$	854,430		$	861,919		$	864,047		$	865,138		$	867,202		$	873,604		$	872,573			$	8,526			1.0	%	$	2,580,396		$	2,613,380		$	32,983			1.3	%
	Less: Premiums ceded to IPO Coinsurers		191,477			187,988			185,392			183,123			179,575			176,766			173,221				(12,171	)		-6.6	%		564,857			529,562			(35,295	)		-6.2	%
	Term Life Insurance adjusted direct premiums	$	662,953		$	673,931		$	678,655		$	682,015		$	687,627		$	696,838		$	699,352			$	20,697			3.0	%	$	2,015,539		$	2,083,818		$	68,278			3.4	%

Reconciliation from Term Life Insurance Ceded Premiums to Term Life Insurance Other Ceded Premiums
	Term Life Insurance ceded premiums	$	(409,334	)	$	(432,306	)	$	(412,935	)	$	(419,273	)	$	(413,843	)	$	(441,242	)	$	(422,072	)		$	(9,137	)		-2.2	%	$	(1,254,576	)	$	(1,277,157	)	$	(22,581	)		-1.8	%
	Less: Premiums ceded to IPO Coinsurers		(191,477	)		(187,988	)		(185,392	)		(183,123	)		(179,575	)		(176,766	)		(173,221	)			12,171			6.6	%		(564,857	)		(529,562	)		35,295			6.2	%
	Term Life Insurance other ceded premiums	$	(217,857	)	$	(244,318	)	$	(227,543	)	$	(236,149	)	$	(234,269	)	$	(264,475	)	$	(248,851	)		$	(21,308	)		-9.4	%	$	(689,719	)	$	(747,595	)	$	(57,876	)		-8.4	%

Reconciliation from Net Investment Income to Adjusted Net Investment Income
	Net Investment Income	$	41,671		$	40,928		$	42,431		$	42,122		$	43,283		$	43,738		$	45,740			$	3,310			7.8	%	$	125,030		$	132,761		$	7,731			6.2	%
	Less: MTM investment adjustments		530			182			321			(466	)		—			—			—			nm			nm				1,033			—		nm			nm
	Adjusted net investment income	$	41,141		$	40,746		$	42,110		$	42,588		$	43,283		$	43,738		$	45,740			$	3,631			8.6	%	$	123,997		$	132,761		$	8,764			7.1	%

Reconciliation from C&O Income Before Income Taxes to C&O Adjusted Operating Income Before Income Taxes
	Income before income taxes	$	(6,741	)	$	64		$	4,771		$	(113	)	$	(6,340	)	$	5,523		$	5,167			$	396			8.3	%	$	(1,906	)	$	4,350		$	6,256		nm
	Less: Investment gains/(losses)		757			(2,866	)		652			641			396			1,691			(169	)		nm			nm				(1,457	)		1,917		nm			nm
	Less: MTM investment adjustments		530			182			321			(466	)		—			—			—			nm			nm				1,033			—		nm			nm
	Adjusted operating income before income taxes	$	(8,028	)	$	2,748		$	3,798		$	(288	)	$	(6,736	)	$	3,832		$	5,336			$	1,539			40.5	%	$	(1,482	)	$	2,433		$	3,915		nm

Reconciliation from Total Revenues to Adjusted Operating Revenues
	Total revenues	$	804,843		$	793,334		$	839,852		$	853,683		$	872,693		$	865,066		$	901,654			$	61,802			7.4	%	$	2,438,029		$	2,639,413		$	201,384			8.3	%
	Less: Investment (losses) gains		757			(2,866	)		652			641			396			1,691			(169	)		nm			nm				(1,457	)		1,917		nm			nm
	Less: MTM investment adjustments		530			182			321			(466	)		—			—			—			nm			nm				1,033			—		nm			nm
	Adjusted operating revenues	$	803,556		$	796,018		$	838,879		$	853,508		$	872,297		$	863,375		$	901,823			$	62,945			7.5	%	$	2,438,453		$	2,637,496		$	199,044			8.2	%

Reconciliation from Income Before Income Taxes to Adjusted Operating Income Before Income Taxes
	Income from continuing operations before income taxes	$	221,315		$	234,496		$	271,679		$	247,074		$	249,418		$	258,219		$	271,912			$	234			0.1	%	$	727,490		$	779,550		$	52,060			7.2	%
	Less: Investment (losses) gains		757			(2,866	)		652			641			396			1,691			(169	)		nm			nm				(1,457	)		1,917		nm			nm
	Less: MTM investment adjustments		530			182			321			(466	)		—			—			—			nm			nm				1,033			—		nm			nm
	Adjusted operating income before income taxes	$	220,028		$	237,181		$	270,706		$	246,899		$	249,023		$	256,528		$	272,082			$	1,376			0.5	%	$	727,914		$	777,632		$	49,719			6.8	%

Reconciliation from Net Income to Adjusted Net Operating Income
	Net income	$	169,051		$	178,344		$	206,793		$	197,047		$	190,096		$	202,278		$	209,127			$	2,334			1.1	%	$	554,187		$	601,501		$	47,314			8.5	%
	Less: Investment (losses) gains		757			(2,866	)		652			641			396			1,691			(169	)		nm			nm				(1,457	)		1,917		nm			nm
	Less: MTM investment adjustments		530			182			321			(466	)		—			—			—			nm			nm				1,033			—		nm			nm
	Less: Tax impact of preceding items		(304	)		643			(232	)		(35	)		(94	)		(366	)		39			nm			nm				106			(421	)	nm			nm
	Adjusted net operating income	$	168,068		$	180,385		$	206,052		$	196,907		$	189,794		$	200,954		$	209,257			$	3,205			1.6	%	$	554,505		$	600,006		$	45,501			8.2	%

     Term Life Insurance - Financial Results and Analysis

     PRIMERICA, INC.
Financial Supplement


																								YOY Q3												YOY YTD
(Dollars in thousands)		Q1 2025			Q2 2025			Q3 2025			Q4 2025			Q1 2026			Q2 2026			Q3 2026			Q4 2026	$ Change			% Change			YTD 2025			YTD 2026			$ Change			% Change
Term Life Insurance Income Before Income Taxes
	Revenues:
	Direct Premiums	$	854,430		$	861,919		$	864,047		$	865,138		$	867,202		$	873,604		$	872,573			$	8,526			1.0	%	$	2,580,396		$	2,613,380		$	32,983			1.3	%
	Premiums ceded to IPO coinsurers (1)		(191,477	)		(187,988	)		(185,392	)		(183,123	)		(179,575	)		(176,766	)		(173,221	)			12,171			6.6	%		(564,857	)		(529,562	)		35,295			6.2	%
	Adjusted direct premiums (2)		662,953			673,931			678,655			682,015			687,627			696,838			699,352				20,697			3.0	%		2,015,539			2,083,818			68,278			3.4	%
	Other ceded premiums (3)		(217,857	)		(244,318	)		(227,543	)		(236,149	)		(234,269	)		(264,475	)		(248,851	)			(21,308	)		-9.4	%		(689,719	)		(747,595	)		(57,876	)		-8.4	%
	Net premiums		445,096			429,613			451,112			445,866			453,359			432,363			450,501				(611	)		-0.1	%		1,325,821			1,336,223			10,402			0.8	%
	Other, net		12,745			12,221			12,189			10,967			11,275			11,243			11,066				(1,123	)		-9.2	%		37,155			33,584			(3,572	)		-9.6	%
	Revenues		457,842			441,834			463,301			456,832			464,634			443,606			461,567				(1,734	)		-0.4	%		1,362,976			1,369,806			6,830			0.5	%

	Benefits and expenses:
	Benefits and claims		171,243			148,725			168,319			163,257			167,252			144,174			161,658				(6,661	)		-4.0	%		488,287			473,083			(15,204	)		-3.1	%
	Future policy benefits remeasurement (gain)/loss		(3,402	)		(5,743	)		(23,392	)		(5,190	)		(7,564	)		(4,858	)		(9,491	)			13,901			59.4	%		(32,537	)		(21,913	)		10,624			32.7	%
	Amortization of DAC		76,921			78,386			79,876			81,227			82,666			83,567			85,031				5,155			6.5	%		235,184			251,265			16,081			6.8	%
	Insurance commissions		2,649			2,238			2,755			1,993			2,042			2,223			2,485				(270	)		-9.8	%		7,641			6,750			(891	)		-11.7	%
	Insurance expenses		63,645			63,216			63,058			68,966			65,378			70,020			69,191				6,133			9.7	%		189,919			204,589			14,671			7.7	%
	Benefits and expenses		311,056			286,821			290,616			310,254			309,774			295,126			308,875				18,258			6.3	%		888,494			913,775			25,281			2.8	%
	Income before income taxes	$	146,785		$	155,012		$	172,684		$	146,578		$	154,859		$	148,480		$	152,692			$	(19,993	)		-11.6	%	$	474,482		$	456,031		$	(18,451	)		-3.9	%

Total Term Life Insurance - Financial Analysis
	Post-IPO direct premiums (4)	$	538,072		$	547,938		$	551,915		$	554,372		$	559,529		$	567,669		$	570,459			$	18,544			3.4	%	$	1,637,925		$	1,697,657		$	59,732			3.6	%
	Pre-IPO direct premiums (5)		316,359			313,981			312,132			310,766			307,674			305,935			302,114				(10,018	)		-3.2	%		942,471			915,723			(26,749	)		-2.8	%
	Total direct premiums	$	854,430		$	861,919		$	864,047		$	865,138		$	867,202		$	873,604		$	872,573			$	8,526			1.0	%	$	2,580,396		$	2,613,380		$	32,983			1.3	%

	Premiums ceded to IPO coinsurers	$	191,477		$	187,988		$	185,392		$	183,123		$	179,575		$	176,766		$	173,221			$	(12,171	)		-6.6	%	$	564,857		$	529,562		$	(35,295	)		-6.2	%
	% of Pre-IPO direct premiums		60.5	%		59.9	%		59.4	%		58.9	%		58.4	%		57.8	%		57.3	%		nm			nm				59.9	%		57.8	%	nm			nm

	Benefits and claims, net (6)	$	385,698		$	387,300		$	372,471		$	394,217		$	393,956		$	403,791		$	401,019			$	28,548			7.7	%	$	1,145,469		$	1,198,765		$	53,297			4.7	%
	% of adjusted direct premiums		58.2	%		57.5	%		54.9	%		57.8	%		57.3	%		57.9	%		57.3	%		nm			nm				56.8	%		57.5	%	nm			nm

	DAC amortization & insurance commissions	$	79,570		$	80,624		$	82,631		$	83,220		$	84,709		$	85,790		$	87,517			$	4,886			5.9	%	$	242,825		$	258,015		$	15,190			6.3	%
	% of adjusted direct premiums		12.0	%		12.0	%		12.2	%		12.2	%		12.3	%		12.3	%		12.5	%		nm			nm				12.0	%		12.4	%	nm			nm

	Insurance expenses, net (7)	$	50,900		$	50,995		$	50,869		$	57,999		$	54,103		$	58,777		$	58,125			$	7,256			14.3	%	$	152,763		$	171,006		$	18,242			11.9	%
	% of adjusted direct premiums		7.7	%		7.6	%		7.5	%		8.5	%		7.9	%		8.4	%		8.3	%		nm			nm				7.6	%		8.2	%	nm			nm

	Total Term Life income before income taxes	$	146,785		$	155,012		$	172,684		$	146,578		$	154,859		$	148,480		$	152,692			$	(19,993	)		-11.6	%	$	474,482		$	456,031		$	(18,451	)		-3.9	%
	Term Life operating margin (8)		22.1	%		23.0	%		25.4	%		21.5	%		22.5	%		21.3	%		21.8	%		nm			nm				23.5	%		21.9	%	nm			nm

(1)

Premiums ceded to IPO coinsurers - premiums ceded to IPO coinsurers under the IPO coinsurance transactions excluding any reimbursements from the IPO coinsurers on previously existing reinsurance agreements.

(2)

Adjusted direct premiums - direct premiums net of premiums ceded to IPO coinsurers.

(3)

Other ceded premiums - premiums ceded to non-IPO coinsurers net of any applicable reimbursements from the IPO coinsurers.

(4)

Post-IPO direct premiums - direct premiums not subject to the 2010 IPO coinsurance transactions.

(5)

Pre-IPO direct premiums - direct premiums subject to the 2010 IPO coinsurance transactions.

(6)

Benefits and claims, net - benefits & claims and remeasurement (gain)/loss net of other ceded premiums which are largely yearly renewable term.

(7)

Insurance expenses, net - insurance expenses net of other, net revenues.

(8)

Term Life Insurance operating margin - Term Life operating income before income taxes as a percentage of adjusted direct premiums.

     Term Life Insurance - Key Statistics

     PRIMERICA, INC.
Financial Supplement


																									YOY Q3												YOY YTD
			Q1 2025			Q2 2025			Q3 2025			Q4 2025			Q1 2026			Q2 2026			Q3 2026			Q4 2026	$ Change			% Change			YTD 2025			YTD 2026			$ Change			% Change
Key Statistics

Life-insurance licensed sales force, beginning of period				151,611			152,167			152,592			152,200			151,524			149,732			148,612				(3,980	)		-2.6	%		151,611			151,524			(87	)		-0.1	%
	New life-licensed representatives			12,339			12,903			12,482			10,998			10,569			11,020			10,722				(1,760	)		-14.1	%		37,724			32,311			(5,413	)		-14.3	%
	Non-renewal and terminated representatives			(11,783	)		(12,478	)		(12,874	)		(11,674	)		(12,361	)		(12,140	)		(12,276	)			598			4.6	%		(37,135	)		(36,777	)		358			1.0	%
Life-insurance licensed sales force, end of period				152,167			152,592			152,200			151,524			149,732			148,612			147,058				(5,142	)		-3.4	%		152,200			147,058			(5,142	)		-3.4	%

Estimated annualized issued term life premium ($mills) (1):
	Premium from new policies		$	74.4		$	78.5		$	69.8		$	67.1		$	64.9		$	70.3		$	66.1			$	(3.7	)		-5.4	%	$	222.7		$	201.3		$	(21.5	)		-9.6	%
	Additions and increases in premium			18.5			20.2			19.0			17.9			18.4			19.5			18.2				(0.7	)		-3.8	%		57.7			56.2			(1.5	)		-2.6	%
		Total estimated annualized issued term life premium	$	93.0		$	98.7		$	88.8		$	85.0		$	83.3		$	89.9		$	84.3			$	(4.5	)		-5.0	%	$	280.4		$	257.5		$	(22.9	)		-8.2	%

Issued term life policies				86,415			89,850			79,379			76,143			74,054			78,904			73,813				(5,566	)		-7.0	%		255,644			226,771			(28,873	)		-11.3	%
Estimated average annualized issued term life premium per policy (1)(2)			$	861		$	874		$	879		$	882		$	876		$	891		$	895			$	16			1.8	%	$	871		$	888		$	16			1.9	%

Term life face amount in-force, beginning of period ($mills)			$	953,583		$	956,981		$	968,312		$	967,024		$	967,612		$	965,671		$	967,905			$	(407	)	nm			$	953,583		$	967,612		$	14,029			1.5	%
	Issued term life face amount (3)			28,455			30,292			27,067			26,068			25,678			27,737			25,708				(1,358	)		-5.0	%		85,814			79,123			(6,691	)		-7.8	%
	Terminated term life face amount			(24,979	)		(24,795	)		(26,159	)		(27,170	)		(25,578	)		(23,645	)		(24,862	)			1,297			5.0	%		(75,934	)		(74,085	)		1,849			2.4	%
	Foreign currency impact, net			(77	)		5,834			(2,196	)		1,690			(2,041	)		(1,858	)		(79	)			2,117			96.4	%		3,561			(3,979	)		(7,539	)	nm
Term life face amount in-force, end of period			$	956,981		$	968,312		$	967,024		$	967,612		$	965,671		$	967,905		$	968,672			$	1,648			0.2	%	$	967,024		$	968,672		$	1,648			0.2	%

(1)

Estimated annualized issued term life premium - estimated as average premium per $1,000 of face amounts issued on new policies and additions (before free look returns) multiplied by actual face amount issued on new policies, rider additions and face amount increases.

(2)

In whole dollars.

(3)

Issued term life face amount - includes face amount on issued term life policies, additional riders added to existing policies, and face increases under increasing benefit riders.

     Investment and Savings Products - Financial Results and Financial Analysis 

PRIMERICA, INC.
Financial Supplement


																								YOY Q3												YOY YTD
(Dollars in thousands, except as noted)		Q1 2025			Q2 2025			Q3 2025			Q4 2025			Q1 2026			Q2 2026			Q3 2026			Q4 2026	$ Change			% Change			YTD 2025			YTD 2026			$ Change			% Change
Investment & Savings Products Income Before Income Taxes
	Revenues:
	Commissions and fees:
	Sales-based	$	111,270		$	115,933		$	118,637		$	131,305		$	136,355		$	135,509		$	140,822			$	22,185			18.7	%	$	345,841		$	412,686		$	66,845			19.3	%
	Asset-based		152,014			154,735			172,286			181,407			187,366			197,598			209,261				36,974			21.5	%		479,036			594,226			115,190			24.0	%
	Account-based		24,195			24,394			24,420			24,347			23,619			24,118			24,514				93			0.4	%		73,008			72,251			(758	)		-1.0	%
	Other, net		3,333			3,236			3,445			3,275			3,305			3,293			3,429				(16	)		-0.5	%		10,013			10,026			13			0.1	%
	Revenues		290,812			298,297			318,789			340,335			350,645			360,519			378,025				59,236			18.6	%		907,898			1,089,189			181,291			20.0	%

	Benefits and expenses:
	Amortization of DAC		1,337			1,368			1,355			1,321			1,334			1,304			1,308				(47	)		-3.4	%		4,060			3,946			(114	)		-2.8	%
	Insurance commissions		3,277			3,468			3,485			3,526			3,457			3,450			3,477				(8	)		-0.2	%		10,229			10,384			155			1.5	%
	Sales commissions:
	Sales-based		77,267			82,935			82,867			89,561			95,168			95,816			98,767				15,900			19.2	%		243,069			289,751			46,682			19.2	%
	Asset-based		76,246			78,010			87,337			93,247			95,360			100,677			106,518				19,181			22.0	%		241,593			302,555			60,962			25.2	%
	Other operating expenses		51,414			53,096			49,522			52,071			54,427			55,056			53,902				4,379			8.8	%		154,032			163,384			9,352			6.1	%
	Benefits and expenses		209,541			218,877			224,565			239,726			249,745			256,303			263,972				39,406			17.5	%		652,983			770,020			117,037			17.9	%
	Income before income taxes	$	81,270		$	79,420		$	94,223		$	100,609		$	100,900		$	104,216		$	114,054			$	19,830			21.0	%	$	254,914		$	319,169		$	64,254			25.2	%

Financial Analysis

	Fees paid based on client asset values (1)	$	10,915		$	11,404		$	12,285		$	12,803		$	13,287		$	14,493		$	15,590			$	3,305			26.9	%	$	34,604		$	43,370		$	8,765			25.3	%
	Fees paid based on fee-generating positions (2)		12,410			11,015			10,341			10,543			11,121			10,553			10,361				20			0.2	%		33,766			32,035			(1,731	)		-5.1	%
	Other operating expenses		28,089			30,676			26,896			28,724			30,019			30,010			27,951				1,054			3.9	%		85,661			87,979			2,318			2.7	%
	Total other operating expenses	$	51,414		$	53,096		$	49,522		$	52,071		$	54,427		$	55,056		$	53,902			$	4,379			8.8	%	$	154,032		$	163,384		$	9,352			6.1	%

	Sales-based variable margin as % of revenue-generating sales (3)
	U.S.		1.37	%		1.29	%		1.38	%		1.49	%		1.38	%		1.32	%		1.38	%		nm			nm				1.34	%		1.36	%	nm			nm
	Canada		0.35	%		0.35	%		0.35	%		0.27	%		0.38	%		0.39	%		0.40	%		nm			nm				0.35	%		0.39	%	nm			nm
	Total		1.28	%		1.23	%		1.31	%		1.40	%		1.30	%		1.26	%		1.32	%		nm			nm				1.27	%		1.30	%	nm			nm

	Asset-based variable margin as % of average asset values (4)
	U.S.		0.043	%		0.043	%		0.044	%		0.045	%		0.046	%		0.047	%		0.048	%		nm			nm				0.130	%		0.141	%	nm			nm
	Canada		0.113	%		0.109	%		0.115	%		0.110	%		0.114	%		0.116	%		0.118	%		nm			nm				0.336	%		0.348	%	nm			nm
	Total		0.053	%		0.053	%		0.055	%		0.055	%		0.057	%		0.057	%		0.059	%		nm			nm				0.162	%		0.173	%	nm			nm

	Account-based variable margin per average fee generating position (5)(6)	$	3.57		$	4.02		$	4.20		$	4.09		$	3.69		$	3.97		$	4.10			nm			nm			$	11.79		$	11.76		nm			nm

(1)

Fees paid based on client asset values - administration fees on Canadian Segregated Funds and advisory fees on Managed Accounts that vary directly with client asset values.

(2)

Fees paid based on fee-generating positions - recordkeeping fees that vary with the number of fee-generating positions.

(3)

Sales-based variable margin - commission and fee revenue less commissions paid to the sales force based on product sales activity.

(4)

Asset-based variable margin - commission and fee revenue less administration and advisory fees paid to third-party providers and commissions paid to the sales force earned based on product account values including amortization of deferred acquisition costs for segregated funds.

(5)

Account-based variable margin - fee revenue less recordkeeping fees paid to third-party providers based on fee-generating positions and certain direct general expenses.

(6)

In whole dollars.

     Investment and Savings Products - Key Statistics

     PRIMERICA, INC.
Financial Supplement


																											YOY Q3												YOY YTD
					Q1 2025			Q2 2025			Q3 2025			Q4 2025			Q1 2026			Q2 2026			Q3 2026			Q4 2026	$ Change			% Change			YTD 2025			YTD 2026			$ Change			% Change
Key Statistics

	Product sales ($mills)
		U.S. Retail Mutual Funds			$	1,317.9		$	1,244.0		$	1,298.4		$	1,323.0		$	1,460.2		$	1,482.4		$	1,399.0			$	100.6			7.7	%	$	3,860.3		$	4,341.6		$	481.3			12.5	%
		Canada Retail Mutual Funds				220.7			168.5			185.7			212.9			235.2			199.2			210.7				25.0			13.4	%		574.9			645.0			70.1			12.2	%
		Indexed Annuities				71.1			93.0			72.7			70.2			77.2			68.4			59.5				(13.2	)		-18.2	%		236.8			205.1			(31.7	)		-13.4	%
		Variable Annuities and other				1,038.9			1,178.7			1,180.6			1,375.3			1,383.6			1,387.8			1,518.2				337.5			28.6	%		3,398.1			4,289.5			891.4			26.2	%
				Total sales-based revenue generating product sales		2,648.6			2,684.2			2,737.4			2,981.4			3,156.2			3,137.8			3,187.3				449.9			16.4	%		8,070.2			9,481.3			1,411.2			17.5	%
		Managed Accounts				596.7			634.1			717.2			822.5			821.5			903.6			909.5				192.3			26.8	%		1,948.0			2,634.6			686.7			35.3	%
		Canada Retail Mutual Funds - no upfront sales comm				296.4			218.6			244.7			261.6			313.8			282.0			261.4				16.7			6.8	%		759.7			857.2			97.4			12.8	%
		Segregated Funds				17.7			11.5			12.6			45.1			40.3			33.9			47.0				34.4		nm				41.8			121.1			79.4		nm
				Total product sales	$	3,559.3		$	3,548.4		$	3,711.9		$	4,110.6		$	4,331.8		$	4,357.3		$	4,405.2			$	693.3			18.7	%	$	10,819.6		$	13,094.3		$	2,274.6			21.0	%

		Total Canada Retail Mutual Funds			$	517.1		$	387.1		$	430.4		$	474.5		$	549.0		$	481.2		$	472.1			$	41.6			9.7	%	$	1,334.6		$	1,502.2		$	167.6			12.6	%
		Segregated Funds				17.7			11.5			12.6			45.1			40.3			33.9			47.0				34.4		nm				41.8			121.1			79.4		nm
			Total Canada product sales			534.8			398.6			443.0			519.5			589.2			515.1			519.1				76.1			17.2	%		1,376.4			1,623.3			246.9			17.9	%
			Total U.S. product sales			3,024.6			3,149.8			3,268.9			3,591.0			3,742.5			3,842.3			3,886.1				617.2			18.9	%		9,443.2			11,470.9			2,027.7			21.5	%
				Total product sales	$	3,559.3		$	3,548.4		$	3,711.9		$	4,110.6		$	4,331.8		$	4,357.3		$	4,405.2			$	693.3			18.7	%	$	10,819.6		$	13,094.3		$	2,274.6			21.0	%

	Client asset values, beginning of period ($mills)				$	112,081		$	109,908		$	120,224		$	126,793		$	128,891		$	126,762		$	140,042			$	19,817			16.5	%	$	112,081		$	128,891		$	16,810			15.0	%
		Inflows				3,559			3,548			3,712			4,111			4,332			4,357			4,405				693			18.7	%		10,820			13,094			2,275			21.0	%
		Outflows (1)				(3,017	)		(3,062	)		(3,349	)		(3,786	)		(3,970	)		(3,961	)		(3,998	)			(650	)		-19.4	%		(9,428	)		(11,929	)		(2,501	)		-26.5	%
				Net flows		542			487			363			325			362			397			407				44			12.0	%		1,392			1,165			(227	)		-16.3	%
		Foreign currency impact, net				(12	)		900			(357	)		290			(351	)		(318	)		(15	)			342			95.8	%		531			(685	)		(1,215	)	nm
		Change in market value, net and other (2)				(2,703	)		8,931			6,562			1,483			(2,140	)		13,201			(819	)			(7,381	)		-112.5	%		12,790			10,243			(2,547	)		-19.9	%
	Client asset values, end of period				$	109,908		$	120,224		$	126,793		$	128,891		$	126,762		$	140,042		$	139,614			$	12,821			10.1	%	$	126,793		$	139,614		$	12,821			10.1	%
		Annualized net flows as % of beginning of period asset values				1.9	%		1.8	%		1.2	%		1.0	%		1.1	%		1.3	%		1.2	%			0.0	%	nm				1.7	%		1.2	%		-0.5	%	nm

	Average client asset values ($mills)
		U.S. Retail Mutual Funds			$	54,649		$	54,324		$	58,410		$	60,288		$	60,243		$	62,298		$	63,837			$	5,427			9.3	%	$	55,794		$	62,126		$	6,332			11.3	%
		Canada Retail Mutual Funds				14,555			15,153			16,452			17,226			17,764			18,624			19,134				2,681			16.3	%		15,387			18,507			3,120			20.3	%
		Managed Accounts				11,537			12,167			13,759			15,070			16,190			17,760			19,206				5,446			39.6	%		12,488			17,718			5,231			41.9	%
		Indexed Annuities				3,003			3,033			3,061			3,081			3,093			3,121			3,130				69			2.2	%		3,033			3,115			82			2.7	%
		Variable Annuities and other				27,086			27,075			29,127			30,210			30,276			31,451			32,542				3,415			11.7	%		27,763			31,423			3,660			13.2	%
		Segregated Funds				2,189			2,223			2,307			2,301			2,310			2,297			2,304				(3	)		-0.1	%		2,239			2,303			64			2.9	%
				Total	$	113,018		$	113,975		$	123,117		$	128,175		$	129,875		$	135,550		$	140,152			$	17,035			13.8	%	$	116,703		$	135,192		$	18,489			15.8	%

		Canada Retail Mutual Funds			$	14,555		$	15,153		$	16,452		$	17,226		$	17,764		$	18,624		$	19,134			$	2,681			16.3	%	$	15,387		$	18,507		$	3,120			20.3	%
		Segregated Funds				2,189			2,223			2,307			2,301			2,310			2,297			2,304				(3	)		-0.1	%		2,239			2,303			64			2.9	%
			Total Canada average client assets			16,743			17,376			18,759			19,526			20,073			20,921			21,437				2,678			14.3	%		17,626			20,810			3,184			18.1	%
			Total U.S. average client assets			96,274			96,599			104,358			108,649			109,802			114,629			118,714				14,357			13.8	%		99,077			114,382			15,305			15.4	%
				Total average client assets	$	113,018		$	113,975		$	123,117		$	128,175		$	129,875		$	135,550		$	140,152			$	17,035			13.8	%	$	116,703		$	135,192		$	18,489			15.8	%

	Average number of fee-generating positions (thous) (3)
		Recordkeeping and custodial				2,419			2,437			2,448			2,459			2,467			2,483			2,497				48			2.0	%		2,435			2,482			48			2.0	%
		Recordkeeping only				885			893			902			912			924			938			952				50			5.6	%		893			938			45			5.0	%
				Total		3,304			3,330			3,350			3,372			3,391			3,421			3,449				98			2.9	%		3,328			3,420			92			2.8	%

(1)

Asset value outflows - include (a) redemptions of assets, (b) sales charges on the inflow sales figures, and (c) the net flow of money market funds sold and redeemed on the Company's recordkeeping platform. The redemptions of assets must be estimated for approximately 4% of account values as these figures are not readily available. Actual redemptions as a percentage of account values for similar known account values are used to estimate the unknown redemption values.

(2)

Change in market value, net - market value fluctuations net of fees and expenses.

(3)

Fee generating positions - mutual fund positions for which we receive recordkeeping fees. An individual client account may include multiple mutual fund positions. We may also receive fees earned for custodial services that we provide to clients with retirement plan accounts that hold positions in these mutual funds.

     Corporate Other Distributed Products - Financial Results

     PRIMERICA, INC.
Financial Supplement


																								YOY Q3												YOY YTD
(Dollars in thousands)		Q1 2025			Q2 2025			Q3 2025			Q4 2025			Q1 2026			Q2 2026			Q3 2026			Q4 2026	$ Change			% Change			YTD 2025			YTD 2026			$ Change			% Change
Corporate & Other Distributed Products Income Before Income Taxes
Revenues:
	Direct premiums	$	4,414		$	4,335		$	4,604		$	3,892		$	4,044		$	4,149		$	4,266			$	(338	)		-7.4	%	$	13,354		$	12,458		$	(895	)		-6.7	%
	Ceded premiums		(1,187	)		(1,102	)		(1,169	)		(1,571	)		(1,016	)		(1,039	)		(1,137	)			32			2.7	%		(3,458	)		(3,191	)		267			7.7	%
	Net premiums		3,227			3,233			3,435			2,321			3,028			3,110			3,129				(306	)		-8.9	%		9,895			9,267			(628	)		-6.3	%
	Adjusted net investment income		41,141			40,746			42,110			42,588			43,283			43,738			45,740				3,631			8.6	%		123,997			132,761			8,764			7.1	%
	Commissions and fees:
	Prepaid legal services		3,682			4,009			2,304			3,479			3,326			3,935			3,879				1,576			68.4	%		9,994			11,140			1,146			11.5	%
	Auto and homeowners insurance		1,966			2,440			2,941			2,245			1,988			2,339			3,235				294			10.0	%		7,347			7,562			215			2.9	%
	Mortgage loans		2,129			3,020			3,281			2,984			2,553			3,416			3,224				(58	)		-1.8	%		8,430			9,193			763			9.1	%
	Other sales commissions		1,701			1,502			1,620			1,618			1,535			1,695			1,783				163			10.1	%		4,823			5,013			190			3.9	%
	Other, net		1,057			938			1,098			1,106			1,307			1,018			1,241				143			13.0	%		3,093			3,566			473			15.3	%
	Adjusted operating revenues		54,902			55,887			56,789			56,341			57,019			59,250			62,232				5,442			9.6	%		167,579			178,501			10,922			6.5	%

Benefits and expenses:
	Benefits and claims		3,619			3,769			3,833			3,162			4,002			3,154			5,794				1,961			51.2	%		11,220			12,951			1,730			15.4	%
	Future policy benefits remeasurement (gain)/loss		128			(152	)		278			82			187			(180	)		(2,342	)			(2,620	)	nm				255			(2,335	)		(2,590	)	nm
	Amortization of DAC		291			288			267			265			260			256			252				(15	)		-5.7	%		847			768			(79	)		-9.3	%
	Insurance commissions		199			45			(741	)		101			119			106			108				848			114.6	%		(497	)		332			829		nm
	Insurance expenses		1,160			1,147			1,074			1,202			1,189			1,139			1,166				92			8.6	%		3,380			3,494			113			3.4	%
	Sales commissions		4,605			5,346			4,484			5,015			4,682			5,431			5,631				1,147			25.6	%		14,435			15,744			1,309			9.1	%
	Interest expense		6,004			6,000			5,985			5,968			5,861			5,833			5,750				(235	)		-3.9	%		17,990			17,443			(546	)		-3.0	%
	Other operating expenses		46,924			36,696			37,811			40,834			47,455			39,680			40,537				2,726			7.2	%		121,431			127,672			6,241			5.1	%
	Benefits and expenses		62,930			53,139			52,992			56,629			63,755			55,418			56,895				3,904			7.4	%		169,061			176,069			7,007			4.1	%
	Adjusted operating income before income taxes	$	(8,028	)	$	2,748		$	3,798		$	(288	)	$	(6,736	)	$	3,832		$	5,336			$	1,539			40.5	%	$	(1,482	)	$	2,433		$	3,915		nm

     Investment Portfolio - Summary of Holdings

     PRIMERICA, INC.
Financial Supplement


				As of or for the period ended September 30, 2026
											% of Total						Avg
				Market		Amortized		Unrealized			Market			Amortized			Book			Avg
(Dollars in thousands)				Value		Cost		G/(L)			Value			Cost			Yield			Rating
Investment Portfolio by Asset Class

Cash, Cash Equivalents, and Short Term				$	782,723	$	782,723	$	-			19.0	%		17.8	%

Fixed Income:
	Treasury				13,451		14,095		(644	)		0.3	%		0.3	%		3.5	%	AA+
	Government				214,230		236,209		(21,979	)		5.2	%		5.4	%		3.4	%	AA-
	Tax-Exempt Municipal				41,389		47,126		(5,736	)		1.0	%		1.1	%		3.4	%	AA
	Public Corporate				1,764,500		1,896,929		(132,429	)		42.8	%		43.1	%		4.6	%	BBB+
	Mortgage-Backed				640,857		722,759		(81,902	)		15.5	%		16.4	%		4.3	%	AAA
	Asset-Backed				218,418		224,261		(5,843	)		5.3	%		5.1	%		4.6	%	AA
	CMBS				76,567		84,847		(8,280	)		1.9	%		1.9	%		3.7	%	A+
	Private Placements				341,518		363,705		(22,187	)		8.3	%		8.3	%		5.4	%	BBB+
	Redeemable Preferred				2,555		3,248		(693	)		0.1	%		0.1	%		5.0	%	BBB-
			Total Fixed Income		3,313,486		3,593,180		(279,694	)		80.3	%		81.6	%		4.5	%	A

Equities and Other:
	Perpetual Preferred				3,303		3,303		-			0.1	%		0.1	%
	Common Stock				21,347		21,347		-			0.5	%		0.5	%
	Mutual Fund				4,076		4,076		-			0.1	%		0.1	%
	Derivative				43		43		-			0.0	%		0.0	%
			Total Equities		28,770		28,770		-			0.7	%		0.7	%

			Total Invested Assets	$	4,124,978	$	4,404,673	$	(279,694	)		100.0	%		100.0	%

Public Corporate Portfolio by Sector

	Banking			$	104,536	$	106,172	$	(1,636	)		5.9	%		5.6	%
	Basic Industry				64,853		73,488		(8,636	)		3.7	%		3.9	%
	Brokerage				69,351		74,187		(4,836	)		3.9	%		3.9	%
	Capital Goods				129,705		137,419		(7,714	)		7.4	%		7.2	%
	Communications				71,268		76,597		(5,330	)		4.0	%		4.0	%
	Consumer Cyclical				140,416		149,148		(8,733	)		8.0	%		7.9	%
	Consumer Non Cyclical				177,938		197,342		(19,404	)		10.1	%		10.4	%
	Electric				132,135		144,266		(12,131	)		7.5	%		7.6	%
	Energy				255,585		271,415		(15,830	)		14.5	%		14.3	%
	Finance Companies				53,198		54,549		(1,351	)		3.0	%		2.9	%
	Financial Other				3,114		3,276		(162	)		0.2	%		0.2	%
	Industrial Other				6,037		6,685		(649	)		0.3	%		0.4	%
	Insurance				258,355		279,053		(20,698	)		14.6	%		14.7	%
	Natural Gas				21,808		23,243		(1,436	)		1.2	%		1.2	%
	Owned No Guarantee				2,037		2,325		(288	)		0.1	%		0.1	%
	Reits				117,000		127,563		(10,563	)		6.6	%		6.7	%
	Technology				102,520		112,027		(9,507	)		5.8	%		5.9	%
	Transportation				50,858		53,779		(2,921	)		2.9	%		2.8	%
	Utility Other				3,789		4,393		(604	)		0.2	%		0.2	%
			Total Public Corporate portfolio	$	1,764,500	$	1,896,929	$	(132,429	)		100.0	%		100.0	%

Fixed-Maturity Securities - Effective Maturity

Effective maturity
		< 1 Yr.
		1-2 Yrs.		$	443,233	$	445,900	$	(2,667	)		13.4	%		12.4	%		4.1	%
		2-5 Yrs.			191,797		195,429		(3,632	)		5.8	%		5.4	%		4.0	%
		5-10 Yrs.			811,880		865,648		(53,768	)		24.5	%		24.1	%		4.0	%
		> 10 Yrs.			1,014,922		1,122,966		(108,043	)		30.6	%		31.3	%		4.4	%
			Total Fixed Income		851,654		963,237		(111,583	)		25.7	%		26.8	%		5.4	%
				$	3,313,486	$	3,593,180	$	(279,694	)		100.0	%		100.0	%		4.5	%

Duration

Fixed Income portfolio duration					5.3	years

Note: Investment Portfolio pages in this Financial Supplement exclude the Held to Maturity asset on our balance sheet.

     Investment Portfolio - Quality Ratings As of September 30, 2026

     PRIMERICA, INC.
Financial Supplement


(Dollars in thousands)
Investment Portfolio Quality Ratings (1)
			Amortized Cost		% of Total
Total Fixed Income portfolio:
	Rating
	AAA		$	683,297		19.0	%
	AA			486,622		13.5	%
	A			895,503		24.9	%
	BBB			1,483,051		41.3	%
	Below Investment Grade			43,285		1.2	%
	NA			1,420		0.0	%
		Total Fixed Income	$	3,593,180		100.0	%




			Amortized Cost		% of Total						Amortized Cost		% of Total
Public Corporate asset class:								Private Placement asset class:
	Rating								Rating
	AAA		$	2,038		0.1	%		AAA		$	-		—
	AA			84,911		4.5	%		AA			4,000		1.1	%
	A			557,046		29.4	%		A			114,349		31.4	%
	BBB			1,213,691		64.0	%		BBB			244,356		67.2	%
	Below Investment Grade			39,042		2.1	%		Below Investment Grade			1,000		0.3	%
	NA			201		0.0	%		NA			-		—
		Total Corporate	$	1,896,929		100.0	%			Total Private	$	363,705		100.0	%



CMBS asset class:								Mortgage-Backed asset class:
	Rating								Rating
	AAA		$	22,096		26.0	%		AAA		$	568,658		78.7	%
	AA			16,827		19.8	%		AA			153,965		21.3	%
	A			36,544		43.1	%		A			-		—
	BBB			6,190		7.3	%		BBB			-		—
	Below Investment Grade			3,191		3.8	%		Below Investment Grade			52		0.0	%
	NA			-		—			NA			84		0.0	%
		Total CMBS	$	84,847		100.0	%			Total Mortgage-Backed	$	722,759		100.0	%



Asset-Backed asset class:								Treasury & Government asset classes:
	Rating								Rating
	AAA		$	65,915		29.4	%		AAA		$	19,570		7.8	%
	AA			55,561		24.8	%		AA			139,682		55.8	%
	A			63,763		28.4	%		A			74,350		29.7	%
	BBB			-		—			BBB			15,566		6.2	%
	Below Investment Grade			-		—			Below Investment Grade			-		—
	NA			-		—			NA			1,136		0.5	%
		Total Asset-Backed	$	185,238		82.6	%			Total Treasury & Government	$	250,304		100.0	%



NAIC Designations

	1		$	1,744,967		57.5	%
	2			1,250,128		41.2	%
	3			35,431		1.2	%
	4			3,975		0.1	%
	5			-		—
	6			-		—
		U.S. Insurer Fixed Income (2)		3,034,500		100.0	%
	Other (3)			587,450
	Cash and cash equivalents			782,723
		Total Invested Assets	$	4,404,673

(1)

Ratings method for split ratings: If by 2 NRSROs, use lower of the two; if by 3 or more NRSROs, use second lowest.

(2)

NAIC ratings for our U.S. insurance companies' fixed income portfolios.

(3)

Other consists of assets held by our non-life companies, Canadian insurance company, and unrated equities.

Note: Investment Portfolio pages in this Financial Supplement exclude the Held to Maturity asset on our balance sheet.

     Investment Portfolio - Supplemental Data and Trends

     PRIMERICA, INC.
Financial Supplement


																											YOY Q3
(Dollars in thousands)					Q1 2025			Q2 2025			Q3 2025			Q4 2025			Q1 2026			Q2 2026			Q3 2026			Q4 2026	$ Change			% Change
Net Investment Income by Source
	Fixed-maturity securities (available-for-sale)				$	33,513		$	34,346		$	35,218		$	36,130		$	38,133		$	40,394		$	40,767			$	5,549		15.8%
	Fixed-maturity securities (held-to-maturity)					14,669			14,621			14,476			14,278			13,223			12,862			12,345				(2,131	)	-14.7%
	Equity Securities					314			315			318			321			323			329			330				12		3.8%
	Deposit asset underlying 10% reinsurance treaty					1,857			1,736			1,659			1,512			—			—			—				(1,659	)	-100.0%
	Deposit asset - Mark to Market					530			182			321			(466	)		—			—			—				(321	)	-100.0%
	Policy loans and other invested assets					1,032			482			611			617			673			201			718				107		17.5%
	Cash & cash equivalents					6,519			5,959			6,340			6,065			6,189			4,838			5,943				(397	)	-6.3%
			Total investment income			58,435			57,641			58,943			58,457			58,542			58,624			60,086				1,143		1.9%
	Investment expenses					2,095			2,092			2,036			2,057			2,036			2,024			2,001				(35	)	-1.7%
	Interest Expense on Surplus Note					14,669			14,621			14,476			14,278			13,223			12,862			12,345				(2,131	)	-14.7%
			Net investment income		$	41,671		$	40,928		$	42,431		$	42,122		$	43,283		$	43,738		$	45,740			$	3,309		7.8%
		Fixed income book yield, end of period				4.21	%		4.26	%		4.27	%		4.30	%		4.39	%		4.43	%		4.51	%
		New money yield				5.47	%		5.64	%		5.15	%		4.92	%		5.00	%		4.94	%		5.58	%

																											YOY Q3
					Q1 2025			Q2 2025			Q3 2025			Q4 2025			Q1 2026			Q2 2026			Q3 2026			Q4 2026	% Pt Change
Fixed Income Portfolio Quality Ratings
	Rating
	AAA					19.0	%		19.3	%		19.3	%		19.7	%		19.2	%		18.4	%		19.0	%			-0.3	%
	AA					13.6	%		14.0	%		14.6	%		14.9	%		14.0	%		13.6	%		13.5	%			-1.1	%
	A					24.5	%		23.8	%		24.0	%		23.8	%		25.1	%		24.8	%		24.9	%			0.9	%
	BBB					41.7	%		41.9	%		41.0	%		40.6	%		40.8	%		42.4	%		41.3	%			0.3	%
	Below Investment Grade					1.1	%		0.9	%		0.9	%		1.1	%		0.9	%		0.9	%		1.2	%			0.3	%
	NA					0.1	%		0.1	%		0.1	%		0.0	%		0.1	%		0.0	%		0.0	%			-0.0	%
				Total Fixed Income		100.0	%		100.0	%		100.0	%		100.0	%		100.0	%		100.0	%		100.0	%			—

				Average rating by amortized cost	A			A			A			A			A			A			A


				As of September 30, 2026									As of September 30, 2026						As of September 30, 2026
				Market Value			Amortized Cost			Credit Rating			Market Value		Amortized Cost				Market Value		Amortized Cost
Top 25 Exposures											Foreign Exposure (1)						Government Investments (1)

	1	Province of Alberta Canada		$	13,957		$	15,010		AA-	Canada		$	87,767	$	95,558	AAA		$	—	$	—
	2	Province of Ontario Canada			13,162			13,768		A+	United Kingdom			32,027		33,306	AA			—		—
	3	T-Mobile US Inc			12,540			13,022		BBB+	Australia			26,050		28,143	A			11,170		12,456
	4	Devon Energy Corp			11,577			11,902		BBB+	Germany			18,265		19,193	BBB			14,404		15,116
	5	Jefferies Financial Group Inc			11,539			12,817		BBB	France			12,020		12,737	Below Investment Grade			—		—
	6	Enbridge Inc			11,506			12,341		BBB+	Italy			10,760		10,868	NA			—		—
	7	Manulife Financial Corp			11,424			12,218		A	Bermuda			10,658		10,976		Total	$	25,574	$	27,572
	8	Intact Financial Corp			10,910			11,306		A+	Cayman Islands			9,640		9,861
	9	KKR & Co Inc			10,835			11,609		A	Mexico			9,488		10,517
	10	Parker-Hannifin Corp			10,702			11,382		BBB+	Luxembourg			7,825		7,662	Non-Government Investments (1)
	11	MetLife Inc			10,557			10,601		A-	Ireland			7,276		7,471
	12	Aon PLC			10,399			10,946		A-	Norway			5,476		5,792	AAA		$	—	$	—
	13	Wells Fargo & Co			10,182			10,441		A-	Spain			4,559		4,914	AA			7,613		7,694
	14	Oracle Corp			10,031			11,903		BBB-	Panama			2,833		3,042	A			59,447		62,105
	15	Province of Quebec Canada			9,955			10,507		AA-	Aruba			2,640		2,767	BBB			179,970		192,037
	16	Enel SpA			9,886			9,969		BBB	Emerging Markets (2)			15,432		16,486	Below Investment Grade			1,871		2,123
	17	Alimentation Couche-Tard Inc			9,686			10,523		BBB+	All Other			11,759		12,240	NA			—		—
	18	ONEOK Inc/OK			9,671			10,458		BBB+		Total	$	274,476	$	291,531		Total	$	248,901	$	263,959
	19	Province of New Brunswick Canada			9,599			10,583		A+
	20	Simon Property Group Inc			9,513			10,929		A
	21	Sammons Enterprises Inc			9,450			10,392		BBB+
	22	PNC Financial Services Group Inc/The			9,329			10,043		A-
	23	CVS Health Corp			9,219			11,296		BBB
	24	Ontario Teachers' Cadillac Fairview Properties			9,164			10,234		A+
	25	Apollo Global Management Inc			9,130			9,983		A
			Total	$	263,923		$	284,182

			% of total fixed income portfolio		6.4	%		6.5	%

(1)

US$ denominated investments in issuers outside of the United States based on country of risk.

(2)

Emerging markets is as defined by MSCI, Inc. which include Chile, India, Peru, Poland and South Africa.

Note: Investment Portfolio pages in this Financial Supplement exclude the Held to Maturity asset on our balance sheet.

     Five-Year Historical Key Statistics

     PRIMERICA, INC.
Financial Supplement


(Dollars in millions)			2021			2022			2023			2024			2025			Q1 2025			Q2 2025			Q3 2025			Q4 2025			Q1 2026			Q2 2026			Q3 2026			Q4 2026


Recruits				349,374			359,735			361,925			445,425			358,316			100,867			80,924			101,156			75,369			84,217			82,346			90,818


Life-insurance licensed sales force, beginning of period				134,907			129,515			135,208			141,572			151,611			151,611			152,167			152,592			152,200			151,524			149,732			148,612
	New life-licensed representatives			39,622			45,147			49,096			56,320			48,722			12,339			12,903			12,482			10,998			10,569			11,020			10,722
	Non-renewal and terminated representatives			(45,014	)		(39,454	)		(42,732	)		(46,281	)		(48,809	)		(11,783	)		(12,478	)		(12,874	)		(11,674	)		(12,361	)		(12,140	)		(12,276	)
Life-insurance licensed sales force, end of period				129,515			135,208			141,572			151,611			151,524			152,167			152,592			152,200			151,524			149,732			148,612			147,058


Issued term life policies				323,855			291,918			358,860			370,396			331,787			86,415			89,850			79,379			76,143			74,054			78,904			73,813


Issued term life face amount			$	108,521		$	103,822		$	119,102		$	122,233		$	111,882		$	28,455		$	30,292		$	27,067		$	26,068		$	25,678		$	27,737		$	25,708


Term life face amount in-force, beginning of period			$	858,818		$	903,404		$	916,808		$	944,609		$	953,583		$	953,583		$	956,981		$	968,312		$	967,024		$	967,612		$	965,671		$	967,905
	Issued term life face amount			108,521			103,822			119,102			122,233			111,882			28,455			30,292			27,067			26,068			25,678			27,737			25,708
	Terminated term life face amount			(64,798	)		(82,894	)		(94,230	)		(103,872	)		(103,103	)		(24,979	)		(24,795	)		(26,159	)		(27,170	)		(25,578	)		(23,645	)		(24,862	)
	Foreign currency impact, net			862			(7,524	)		2,929			(9,387	)		5,251			(77	)		5,834			(2,196	)		1,690			(2,041	)		(1,858	)		(79	)
Term life face amount in force, end of period			$	903,404		$	916,808		$	944,609		$	953,583		$	967,612		$	956,981		$	968,312		$	967,024		$	967,612		$	965,671		$	967,905		$	968,672


Estimated annualized issued term life premium
	Premium from new policies		$	297.2		$	271.9		$	302.4		$	318.0		$	289.9		$	74.4		$	78.5		$	69.8		$	67.1		$	64.9		$	70.3		$	66.1
	Additions and increases in premium			77.0			76.7			74.3			74.7			75.6			18.5			20.2			19.0			17.9			18.4			19.5			18.2
		Total estimated annualized issued term life premium	$	374.2		$	348.5		$	376.6		$	392.7		$	365.4		$	93.0		$	98.7		$	88.8		$	85.0		$	83.3		$	89.9		$	84.3


Investment & Savings product sales			$	11,703.2		$	10,009.0		$	9,211.7		$	12,078.9		$	14,930.2		$	3,559.3		$	3,548.4		$	3,711.9		$	4,110.6		$	4,331.8		$	4,357.3		$	4,405.2

Investment & Savings average client asset values			$	89,993		$	87,193		$	89,474		$	105,742		$	119,571		$	113,018		$	113,975		$	123,117		$	128,175		$	129,875		$	135,550		$	140,152

Closed U.S. Mortgage Volume (brokered)			$	1,229.2		$	567.2		$	293.4		$	397.4		$	500.7		$	93.5		$	132.8		$	143.4		$	130.9		$	113.1		$	150.6		$	142.6


	Page
Preface, definition of non-GAAP financial measures	3
Condensed balance sheets and reconciliation of balance sheet non-GAAP to GAAP financial measures	4
Financial results and other statistical data	5
Statements of income	6
Reconciliation of statement of income GAAP to non-GAAP financial measures	7
Segment operating results
Term Life Insurance segment - financial results, financial analysis, and key statistics	8-9
Investment and Savings Products segment - financial results, financial analysis, and key statistics	10-11
Corporate & Other Distributed Products segment - financial results	12
Investment portfolio	13-15
Five-year historical key statistics	16