CENTENE CORPORATION AND SUBSIDIARIES

CONSOLIDATED STATEMENTS OF OPERATIONS

(In millions, except shares in thousands and per share data in dollars)

(Unaudited)

Three Months Ended March 31,

2026

2025

Revenues:

Premium

$             43,887

$             41,712

Service

768

777

Premium and service revenues

44,655

42,489

Premium tax

5,289

4,131

Total revenues

49,944

46,620

Expenses:

Medical costs

38,303

36,503

Cost of services

702

698

Selling, general and administrative expenses

3,397

3,353

Depreciation expense

134

142

Amortization of acquired intangible assets

166

173

Premium tax expense

5,381

4,217

Total operating expenses

48,083

45,086

Earnings from operations

1,861

1,534

Other income (expense):

Investment and other income

407

382

Debt extinguishment

(5)

—

Interest expense

(164)

(170)

Earnings before income tax

2,099

1,746

Income tax expense

560

432

Net earnings

1,539

1,314

(Earnings) loss attributable to noncontrolling interests

2

(3)

Net earnings attributable to Centene Corporation

$              1,541

$              1,311

Net earnings per common share attributable to Centene Corporation:

Basic earnings per common share

$                3.13

$                2.64

Diluted earnings per common share

$                3.11

$                2.63

Weighted average number of common shares outstanding:

Basic

492,069

496,214

Diluted

495,591

498,180