GuideOne Board Takes Strategic Action to Garner Capital and Surplus Support Date July 14, 2023 Actions enable growth of GuideOne’s Religious Organizations, Nonprofit & Human Services, and Programs businesses that have proven profitability The GuideOne Board announces it has taken action to augment its capital and surplus in support of its policyholders and to enable the continued growth of its Religious Organizations, Nonprofit & Human Services, and Programs businesses that have a record of sustained profitability and growth. The Board has engaged Keefe, Bruyette & Woods, Inc., a Stifel Company, and Foley & Lardner, LLP to assist in the capital and surplus support action. As a mutual insurer seeking capital and surplus, the transaction is likely to take the form of an affiliation or mutual holding company merger combined with reinsurance and/or other capital guarantees. The need to augment GuideOne’s capital and surplus arose from its rapid growth and lack of profitability during the 2019 – 2021 underwriting period in the open market specialty business that GuideOne has discontinued. “We are committed to strengthening our path forward,” said GuideOne President and CEO Bernie Hengesbaugh. “Our team is making significant progress in decreasing our expense run rate and increasing our operational efficiencies. We have a clear focus on the GuideOne future that supports our profitable niche markets. Therefore, we are receptive to opportunities for partnership as we seek to grow our capital and surplus.” The Board’s actions are underway, and the enabling agreements associated with an affiliation or merger are likely to be concluded with necessary regulatory approvals early in 2024. ### About GuideOne Insurance Company For more than 75 years, GuideOne Insurance Company has supported our policyholders’ goals by providing Nimble Solutions for Niche Needs®. Driven by a diverse portfolio of property and liability insurance and risk management solutions, we strive to Help Make Positive Change Possible® by serving as a trusted partner to the people who strengthen and support our communities. GuideOne’s corporate headquarters are located in West Des Moines, Iowa. For more information, visit www.guideone.com. © GuideOne Insurance Company-2023. GuideOne, Nimble Solutions for Niche Needs and We Make Positive Change Possible are registered trademarks of GuideOne Insurance Company. All rights reserved.