Cigna (CI) official guidance

As a result, in the second quarter, we delivered on our financial commitments with adjusted EPS of $7.78 and are pleased to increase our guidance for full-year adjusted earnings per share to at least $30.45.

The Cigna Group’s outlook for full year 2026 consolidated adjusted income from operations1,2 is at least $30.45 per share2.

During these meetings, The Cigna Group officials expect to reaffirm projected full year 2026 consolidated adjusted income from operations on a per share basis of at least $30.35 per share.

With our performance, we're raising our full-year 2026 adjusted EPS outlook to at least $30.35, reflecting our disciplined approach and steady execution in an operating environment that continues to be shaped by many forces.

The Cigna Group’s outlook for full year 2026 consolidated adjusted income from operations1,2 is at least $30.35 per share2.

During these meetings, The Cigna Group officials expect to reaffirm projected full year 2026 consolidated adjusted income from operations on a per share basis of at least $30.25 per share.

First and foremost, thank you for your questions and your time today. I just want to reiterate a few items. First, with our momentum, we are confident we will deliver on our Adjusted EPS outlook of at least $30.25 for 2026.

The Cigna Group’s outlook for full year 2026 consolidated adjusted income from operations1,2 is at least $7.950 billion, or at least $30.25 per share2.

For the medical care ratio, our full year MCR guidance remains unchanged, and we expect the third quarter MCR to be slightly above second quarter, consistent with historical seasonality.

| Cigna Healthcare Medical Care Ratio2,4 | 83.7% to 84.7% | |

The full-year guidance range of $83.7-$84.7 remains unchanged, and at this point of the year reflects prudence.

| Cigna Healthcare Medical Care Ratio2,4 | 83.7% to 84.7% | |

Assumptions underlying our 2026 outlook for Cigna Healthcare include a medical care ratio in the range of 83.7%-84.7%, incorporating the pricing actions taken across stop-loss and individual exchange businesses, as well as the assumption of a cost trend environment that remains elevated.

| Cigna Healthcare Medical Care Ratio2,4 | 83.7% to 84.7% |

Within Cigna Healthcare, we are raising our full year pre-tax adjusted earnings outlook to at least $4.55 billion, and we expect the third quarter pre-tax adjusted earnings to be over 60% of the second half earnings.

| Cigna Healthcare Adjusted Income from Operations, Pre-Tax1,2 | at least $4,550 | +$25 |

For Cigna Healthcare, we now expect full-year pre-tax adjusted earnings of at least $4.525 billion, and we expect pre-tax adjusted earnings in the first half of the year to be slightly above 60% of the full-year outlook.

| Cigna Healthcare Adjusted Income from Operations, Pre-Tax1,2 | at least $4,525 | +$25 |

For Cigna Healthcare, we expect full year 2026 adjusted earnings of at least $4.5 billion.

| Cigna Healthcare Adjusted Income from Operations, Pre-Tax1,2 | at least $4,500 |

Within Evernorth, we continue to expect full year pre-tax adjusted earnings of at least $6.9 billion and for the third quarter earnings seasonality to be consistent with prior years.

| Evernorth Adjusted Income from Operations, Pre-Tax1,2 | at least $6,900 | |

In Evernorth, we continue to expect full-year 2026 adjusted income from operations of at least $6.9 billion, and we expect second quarter pre-tax adjusted earnings seasonality to be similar to historical patterns.

| Evernorth Adjusted Income from Operations, Pre-Tax1,2 | at least $6,900 | |

In Evernorth, we expect full year 2026 adjusted earnings of at least $6.9 billion.

| Evernorth Adjusted Income from Operations, Pre-Tax1,2 | at least $6,900 |

We expect full year 2026 consolidated adjusted revenues of approximately $280 billion, and we expect full year 2026 consolidated adjusted income from operations of at least $30.25 per share.

The Cigna Group’s outlook2 for full year 2026 adjusted revenues2,3 is approximately $280.0 billion.

Some of the things we're seeing so far in 2027, though, we're on track for mid-90s or better retention again, which is consistent with historical norms.

We expect this ratio to be lower by year-end 2026 as we balance debt repayment with other uses of capital, including share repurchase.

During 2026, we expect to continue progressing towards our long-term debt-to-capitalization ratio of approximately 40%.

We continue to expect the majority of 2026 operating cash flow to be realized in the second half of the year, consistent with our prior commentary and last year's pattern.

We expect to deliver approximately $9 billion of cash flow from operations.

| Cash Flow from Operations2 | ~$9,000 |

Regarding our capital management position, we expect cash flow from operations in 2026 to be back half weighted consistent with the 2025 pattern.