Security Benefit Series B Preferred Stock Dividend Rate Resets to 10.286%

Dividends for next five years will be based on the new reset rate

TOPEKA, Kan.--(BUSINESS WIRE)--SBL Holdings, Inc. (“Security Benefit”), the parent of Security Benefit Life Insurance Company, today announced that the annual dividend rate on its 6.500% Fixed-Rate Reset Non-Cumulative Preferred Stock, Series B (the “Series B”) (CUSIP 78397DAC2) has reset to 10.286% for five years of future dividend periods as provided in the Series B terms. The reset rate is based on a benchmark of five-year U.S. Treasury yields to maturity plus a spread of 5.620%. No Series B shares will be redeemed in connection with the reset, and the reset requires no action by holders.

The Series B dividend rate has been 6.5% since the shares were issued in 2021, and the 6.5% rate will still apply to the dividend payable on November 13, 2026 to holders of record as of October 30, 2026. The new 10.286% rate will first apply to the dividend period that runs from November 2026 to May 2027, relating to the May 13, 2027 dividend payment date. The new rate will continue to apply to dividend periods through November 2031. Security Benefit’s press release dated October 29, 2026 announced the upcoming reset.

As provided in the Series B terms, the benchmark for the reset was determined as of November 10, 2026, based on the average of the yields to maturity for the five business days immediately before that date for U.S. Treasury securities with a maturity of five years as reported under “Treasury constant maturities” (non-inflation indexed) in the Federal Reserve’s H.15 publication published closest in time before the close of business on November 10, 2026. The average was 4.666%, and the average plus the spread of 5.620% resulted in the new rate of 10.286%. Dividends on the Series B shares are payable when, as and if declared.

The dividend rate on Security Benefit’s 7.000% Fixed-Rate Reset Non-Cumulative Preferred Stock, Series A (which was reset to 9.508% in May 2025) was not affected by the Series B reset.

This press release is for informational purposes only and does not constitute an offer to sell, or a solicitation of an offer to buy, any securities of Security Benefit or Security Benefit Life Insurance Company.

About Security Benefit

SBL Holdings, Inc. (“Security Benefit”), through its subsidiary Security Benefit Life Insurance Company (SBLIC), a Kansas-domiciled insurance company that has been in business for 134 years, is a leader in the U.S. retirement market. Security Benefit together with its affiliates offers products in a full range of retirement markets and wealth segments for employers and individuals and held $63.8 billion in assets under management as of June 30, 2026. Security Benefit, an Eldridge Industries business, continues its mission of helping Americans To and Through Retirement®.

Learn more at www.securitybenefit.com and follow us on LinkedIn, Facebook, and X.