1 IBD presentation 2021 Fbl Financial Group Inc Barclays Capital

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chart 2/2 source-note 1/1 table 1/1 title 1/1

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line line source-note valuation headline

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Slide recipe: the peer-gap chart slide · 70%

table/valuation: FBL Financial Group, Protection Peers (Globe Life, Primerica, CNO Financial), and Annuity Peers (Athene Holding, American Equity Investment) trading multiples

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Includes historical valuation charts for Price / Book Value ex. AOCI and Price / NTM Earnings.