INVESTOR RELATIONS

Citizens, Inc. today announced that Bryon Matthew Lewis, who serves as Citizens’ global Vice President of Operations, has been promoted to Chief Operating Officer, a newly created global position effective immediately reporting to Jon Stenberg, President and Chief Executive Officer.

Citizens, Inc. announced that it has filed a shelf registration statement (the “Shelf Registration”) on Form S-3 with the United States Securities and Exchange Commission (the “SEC”), replacing a previous shelf registration statement on Form S-3 that will expire on November 30, 2024.

OLDWICK – AUGUST 07, 2024
AM Best has affirmed the Financial Strength Rating of B++ (Good) and the Long-Term Issuer Credit Rating of “bbb+” (Good) of CICA Life Insurance Company of America (CICA). The outlook of these Credit Ratings (ratings) is stable.

Record setting results and highlight accomplishments for Citizens, including:

• Highest amount of insurance issued ever in a quarter – insurance issued was $307.6 million in Q3 2024, a 75% increase compared to the same period in 2023, primarily from sales of our new products and an increase in producing agents. This comes on the heels of record-setting insurance issued in the fourth quarter of 2023 and the first and second quarters of 2024.
• Record total direct insurance in force – $5.2 billion of total direct insurance in force at September 30, 2024.
• Record number of agents – increased global network of producing agents, up 86% since December 31, 2023 and up 57% since March 31, 2024.
• Licensed in 42 U.S. states and Washington, D.C., up from 32 at December 31, 2022.

• Emerging Growth Virtual Conference on October 31, 2024
• Singular Research Virtual Conference on December 12, 2024

• Singular Research Virtual Conference on September 11, 2024
• Emerging Growth Virtual Conference on September 26, 2024
• LD Micro Conference in Los Angeles on October 29, 2024

• Sidoti Micro-Cap Virtual Conference on August 15, 2024
• Emerging Growth Virtual Conference on August 22, 2024
• LD Micro 17th Annual Main Event Conference in Los Angeles on October 29, 2024

Second Quarter 2024 Financial Highlights

• Total revenues increased 6% to $62.1 million in Q2 2024, from $58.5 million in the year-ago quarter.
• Direct first year life and A&H premiums increased 85% in Q2 2024, the seventh consecutive quarter of year-over-year growth in first year premiums, driven by new domestic growth and new products.
• Income before federal income tax of $3.3 million in Q2 2024, from $6.0 million in Q2 2023.
• Adjusted income before federal income tax of $7.1 million in Q2 2024 from $6.4 million in Q2 2023.
• Net income of $4.0 million, $0.08 per fully diluted Class A share, in Q2 2024, from $6.1 million, $0.12 in Q2 2023.
• Positive net cash provided by operating activities of $4.6 million in Q2 2024. The Company has had positive net cash provided by operating activities annually since 2004.

Citizens announces the planned transition of the Chief Executive Officer role. Jon Stenberg, who currently serves as Citizens’ President, is appointed to the additional role of Chief Executive Officer effective July 1, 2024.

Citizens announced a correction to information incorrectly attributing Citizens, Inc. on some investor platforms.

The Federal Reserve’s 2024 stress test on banks was published on June 26, 2024, and included Citizens Financial Group, Inc. (NYSE: CFG). Some investor platforms incorrectly tagged Citizens, Inc. rather than Citizens Financial Group, Inc. (NYSE: CFG) in their information reported.

• Emerging Growth Virtual Conference on June 13, 2024
• Sidoti Micro-Cap Virtual Conference on August 15, 2024

Record setting quarter for Citizens, including:

• Highest amount of insurance issued ever in a quarter – Insurance issued increased 61% to $274.5 million in Q1 2024 compared to the same period in 2023, primarily from sales of our new products and an increase in producing agents.
• Record insurance in force; over $5 billion of insurance in force at March 31, 2024.
• Record number of agents – increased global network of producing agents in Q1 2024, an increase of 20% at the end of Q1 2024 compared to December 31, 2023.
• First analyst research reports published on Citizens. Reports issued by Sidoti & Company and Singular Research.

Citizens, Inc.’s Results of Operations and Financial Position for the year ending December 31, 2023, have been presented in the Annual Report here.

• Emerging Growth Virtual Conference on April 4, 2024
• Singular Research “Spring Select” Virtual Conference on May 22, 2024

Citizens announced today, March 18, 2024, the appointment of Jon Stenberg as President of Citizens.

Mr. Stenberg brings over 30 years of success in building high-performing teams and scaling revenue at multiple life insurance enterprises.

In this new role, Mr. Stenberg will lead the operations and technology functions and lead our Security Plan life insurance business.

Recent Business Highlights
• Insurance issued increased 10% in Q4 2023 and increased 10% in the full year 2023 compared to the same periods in 2022, primarily from new products and an increase in producing agent count. Over $4.9 billion of direct insurance in force at December 31, 2023.
• Increased global network of producing agents by 85% in 2023.
• Expanded existing white-label partnership to deliver unique products through established fast-growing distribution channels.

• Emerging Growth Virtual Conference on March 6, 2024
• Singular Research “Spring Select” Virtual Conference on May 22, 2024

• Emerging Growth Virtual Conference on January 10, 2024
• Singular Research “Emerging Growth & Value Alpha Leaders” Virtual Conference on February 22, 2024

Singular Research “Best of the Uncovered” on December 7, 2023
Singular Research will host a fireside chat webcast with Citizens management on December 7, 2023, at 1:45 PM ET, moderated by a Singular Research analyst. The live, interactive fireside chat webcast will be
accessible on the Company’s Investor Relations website.

Emerging Growth Virtual Conference on December 7, 2023
Citizens plans to present at the Emerging Growth Virtual Conference on December 7 at 2:55 PM ET. The live, interactive webcast and slide presentation will be accessible on the Company’s Investor Relations
website under the Events tab.

Save your calendar for both virtual events!

Third Quarter 2023 Financial Highlights
• Total revenues increased to $59.4 million in Q3 2023, from $56.2 million in the year-ago quarter.
• First year life and A&H premiums increased 15% in Q3 2023, the fourth consecutive quarter of year-over-year growth in first year premiums, driven by new products and focused marketing campaigns.
• Net income was $2.7 million in Q3 2023, from $3.4 million in Q3 2022. Earnings per fully diluted Class A share was $0.05 in Q3 2023, from $0.06 in the year-ago quarter.
• Positive net cash provided by operating activities of $3.2 million in Q3 2023. The Company has had positive net cash provided by operating activities annually since 2004.
• Cash and cash equivalents of $16.8 million and no debt at September 30, 2023.
• Book value per Class A share of $3.08 increased 39% over the year-ago quarter. Book value per Class A share excluding accumulated other comprehensive income (loss) (AOCI) of $5.63 increased 12% over the year-ago quarter.

• LD Micro 16th Annual Main Event Conference in Los Angeles on October 3, 2023
• Emerging Growth Virtual Conference on October 5, 2023
• Investor Summit Virtual Conference on October 19, 2023

• Emerging Growth Virtual Conference on September 6, 2023
• Singular Research Autumn Equinox Webinar on September 14, 2023
• LD Micro 16th Annual Main Event Conference in Los Angeles on October 3, 2023

Citizens, Inc. Commemorates AM Best Initiated Financial Strength and Credit Ratings on Citizens’ CICA Life Insurance Company of America at The New York Stock Exchange.

The Opening Bell® ceremony will be broadcast live on August 18, 2023, starting at approximately 9:26 a.m. Eastern Time from the New York Stock Exchange in New York, NY. A live stream of The Opening Bell® ringing will be accessible at https://www.nyse.com/bell and on various financial and other news outlets including the New York Stock Exchange’s social media channels: YouTube, Facebook, Instagram, LinkedIn and Twitter.

• Net income increased to $6.1 million in Q2 2023, from $2.5 million in Q2 2022. Earnings per share increased to $0.12 in Q2 2023, from $0.05 in the year-ago quarter.
• Total revenues increased to $58.5 million in Q2 2023, from $53.7 million in the year-ago quarter.
• Insurance issued increased 22% in the first six months of 2023 compared to the same period in 2022.
• Added additional white-label partnership to deliver unique products through established fast-growing distribution channels.

Sidoti will also host a fireside chat webcast with Citizens management on August 16, 2023, at 11:30 AM ET, moderated by a Sidoti research analyst. The live, interactive fireside chat webcast will be accessible on the Company’s Investor Relations website. After, the webcast will be archived on the website for future viewing.

“We’re proud that AM Best recognizes the strength of CICA’s balance sheet and outlook. Our transformative strategic direction drives durable growth. Newly introduced products continue to see significant demand and have been a major contributing factor in the persistent expansion of our customer base. Overall, we deliver innovative, high-quality products to customers who need them, and we remain committed to further enhancing our distribution capabilities going forward. Looking ahead, we believe continued execution of our strategic plan will translate to sustainable growth and profitability over the long term,” said Company Vice Chairman and CEO, Gerald W. Shields.

Citizens expresses its deepest appreciation to Dr. Robert B. Sloan, Jr. for his extraordinary dedication, visionary guidance, and outstanding contributions over his impressive 16-year tenure as a member of Citizens’ Board of Directors.

The partnership between Citizens, Inc. and Allegiant is a major achievement for Citizens as it strives to become the top choice for Final Expense insurance distributors. Allegiant will market Superior Choice Final Expense products through two separate distribution channels including Senior Core Benefits, a captive career-oriented agent model, and through Allegiant Wealth Group, a large independent brokerage channel.

Top Highlights:

• June 1st – Virtual Investor Summit
• June 7th – LD Micro Invitational XIII

Top Highlights:

• Q1 2023 net income of $4.9 million, or $0.10 per fully diluted class A share
• Total revenues of $55.9 million grew 1%, driven by new business and higher net investment income
• Q1 2023 first year premiums increased 24% year-over-year, driven by growth across Life Insurance and Home Service Insurance segments
• Book value per class A share of $3.09 increased 24% over the year-ago quarter; book value per class A share excluding accumulated other comprehensive income (AOCI) of $5.41 increased 10% over the year-ago quarter.
• Enhanced distribution channel through two new white-label partnerships

Citizens, Inc.’s Results of Operations and Financial Position for the year ending December 31, 2022 have been presented in the Annual Report as well as in the Form 10-K report filed with the U.S. Securities and Exchange Commission.

In 2022, the Company made considerable advancements toward its strategic goals through its focus on delivering the right products to the right customer, in the most efficient way possible. To this end, the Company introduced eight new customer-focused products and product enhancements, implemented sales promotions and campaigns that promote growth, and implemented process improvements and new technologies to get products to customers faster. The combined impact of these initiatives resulted in total life insurance issued and the number of policies issued growth of 64% and 18%, respectively.

With over 40 million Spanish or Portuguese speakers in the U.S., Citizens’ ability to produce products end-to-end in those languages provides a solid foundation for Alliance to promote their new white-label product. This partnership advances Citizens’ goal to be the industry leader and first choice provider of simple tailor-made products developed in the native languages of its Spanish and Portuguese clients while Alliance provides insurance agencies life insurance with living benefits that are simple for agents to sell and clients to understand.

This partnership advances Citizens’ goal to be the industry leader and first-choice partner in tailor-made white-label products while allowing Amerus to add another valuable product for their clients. With Citizens’ product expertise, support, and ability to quickly develop new products in multiple languages it lends itself to being a strong partner in the white-label space. Together with Amerus’ established history and commitment to their senior clients, Citizens’ white-label product, Amerus Silver Shield, will serve the life and final expense market.

AUSTIN, TX – November 28, 2022 – Citizens, Inc. (“Citizens” or the “Company”) (NYSE: CIA), a diversified
financial services company providing life, final expense, and limited liability property insurance, today
announced that it has entered into a white-label partnership with The Titan Agency (“Titan”), an
independent insurance agency specializing in end-of-life products and services, to market and sell Citizens’
newly developed life and final expense insurance products with the Titan brand.

AUSTIN, TX – November 4, 2022 – Citizens, Inc. (NYSE: CIA), today reported financial results for the
third quarter ended September 30, 2022.

Here’s a look at the numbers side of our business. Growing our business towards the future.

The new corporate website is here!

Security Plan Announces Launch of B2B Claims Portal