2018 Guide to Effective Proxies

6 TH EDITION | GUIDE TO EFFECTIVE PROXIES 480 BENCHMARKING EXECUTIVE COMPENSATION Proxy Peer Group Indicators (1)(2) Company DIS Survey Partici- pant (1) PSU Peer Group (3) 2017 Proxy Peer Group (2) Life & Health GICS 0.4x to 2.5x Unum Revenues 0.4x to 2.5x Unum Assets 0.5x to 5.0x Unum Market Capitalization List Unum as a Peer Aflac ● ● ● ● ● ● ● ● Allstate ● AXA Group ● Cigna ● CNO Financial Group ● ● ● ● ● ● ● Genworth Financial ● ● ● ● ● ● Guardian Life ● Hartford Financial Services Group ● ● ● ● ● ● John Hancock ● Lincoln National Corporation ● ● ● ● ● ● ● Massachusetts Mutual ● MetLife ● ● ● ● Nationwide ● New York Life ● Northwestern Mutual ● OneAmerica Financial ● Pacific Life ● Phoenix Companies ● Principal Financial Group ● ● ● ● ● ● Prudential Financial ● ● ● ● ● Reinsurance Group of America ● ● ● ● ● Securian Financial ● Sun Life Financial ● Thrivent Financial ● TIAA-CREF ● Torchmark Corporation ● ● ● ● ● ● Transamerica ● USAA ● Voya Financial ● ● ● ● ● ● (1) For compensation decisions made in early 2017, benchmarking comparisons were made using the 2017 Proxy Peer Group and the 2016 DIS (the latest data available at the time). Although Unum participates in the DIS, we are excluded from this table. The number of participants in the DIS remained the same as the prior year. (2) The Proxy Peer Group includes both property and casualty insurers and life and health insurers, with Unum’s assets equal to 29% of the peer median as of December 31, 2016, and our revenue at 89% of the peer median for the year ended December 31, 2016. Unum is not part of the Proxy Peer Group. (3) This peer group will be used for the relative TSR comparison under the 2017 PSU grant. These companies are our direct competitors, are generally followed by the same sell-side research analysts, and generally compete with us for talent. COMPENSATION DISCUSSION AND ANALYSIS 54 2018 PROXY STATEMENT UNUM GROUP