1. Products and financial services provided by the companies of O NE A MERICA F INANCIAL P ARTNERS, I NC. Products and financial services provided by the companies of O NE A MERICA F INANCIAL P ARTNERS, I NC. L IFE I NSURANCE | R ETIREMENT | E MPLOYEE B ENEFITS 2015 FHLB ANK I NSURANCE C ONFERENCE June 16, 2015 John Mason, CFA, Senior Vice President & Chief Investment Officer 1

2. Products and financial services provided by the companies of O NE A MERICA F INANCIAL P ARTNERS, I NC. Founded in 1877 Headquartered in Indianapolis Three main insurance companies o American United Life Insurance Co. o The State Life Insurance Company o Pioneer Mutual Life Insurance Company $16.3B GAA / $1.6B of Capital Claims paying ratings of AA- (S&P) and A+ (A.M. Best) Main products include: o Retirement products and services o Individual life insurance and annuities o Asset-based long-term care o Employee benefits o www.oneamerica.com www.oneamerica.com Founded in 1877 Headquartered in Indianapolis Three main insurance companies o American United Life Insurance Co. o The State Life Insurance Company o Pioneer Mutual Life Insurance Company $16.3B GAA / $1.6B of Capital Claims paying ratings of AA- (S&P) and A+ (A.M. Best) Main products include: o Retirement products and services o Individual life insurance and annuities o Asset-based long-term care o Employee benefits o www.oneamerica.com www.oneamerica.com OneAmerica Background 2

3. Products and financial services provided by the companies of O NE A MERICA F INANCIAL P ARTNERS, I NC. Managed Segments OneAmerica Strategic Business Units Employee Benefits (AUL) Corporate & Reinsurance Individual Life and Financial Services (AUL, State Life, Pioneer, OneAmerica Securities) Participating Whole Life Asset-based LTC Fixed Annuity (Traditional and Indexed) Universal Life (no SGUL) Variable Annuity (GMDB only) Term Life Broker/Dealer Traditional Group Life & Disability Retirement Services (AUL, McCready & Keene, OARS) 457 401 (k) 403 (b) Defined Benefit ESOP Combo 401(a)/403(b) Corporate Segment Reinsurance Voluntary Group Life & Disability 3 Pension Risk Transfer

4. Products and financial services provided by the companies of O NE A MERICA F INANCIAL P ARTNERS, I NC. Background Joined FHLBI in 2007 First joined to provide greater financial flexibility for our operating companies Existing investment portfolios include “eligible collateral”, like many insurance companies Currently have ~$1.5B of funding agreement advances 4

5. Products and financial services provided by the companies of O NE A MERICA F INANCIAL P ARTNERS, I NC. General Account Assets ($16.3B) 5 “Eligible collateral” ~ $2.5B ~ $1.9B

6. Products and financial services provided by the companies of O NE A MERICA F INANCIAL P ARTNERS, I NC. Operating Principles Tightly matched cash flows Duration match limit +/- 0.5 Asset quality – investment grade focus Target economics: accretive to company ROE (12% after-tax target) Monitor collateral weekly & capacity monthly Review program quarterly with committees Monitor FHLB/FHLBI financials (stock) 6