Allocation of Tax Basis Information

Spin-off From Teledyne

Kemper Corporation formerly known as Unitrin, Inc. (The "Company" or "Kemper") was incorporated in the State of Delaware on February 14, 1990. The Company subsequently issued 55,412,845 shares of its $0.10 par value common stock to Teledyne, Inc. ("Teledyne") in exchange for Teledyne's investment in United Insurance Company of America, Trinity Universal Insurance Company, Fireside Securities Corporation, Unitrin Life Insurance Company (formerly Teledyne Life Insurance Company) and their respective subsidiaries. On March 31, 1990, Teledyne placed the shares of the Company's stock in an irrevocable trust for the ultimate distribution to holders of Teledyne common stock, and the Company ceased to be a subsidiary of Teledyne. The distribution of Unitrin common stock to shareholders of Teledyne was made on April 20, 1990.

Title
Tax Basis Letter
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Curtiss-Wright Distribution

Holders of record of Unitrin Common Stock at the close of business on November 12, 2001 participated in the distribution by Unitrin of all of the Class B Common Stock of Curtiss-Wright Corporation ("C-W") held by Unitrin. Each holder of Unitrin Common Stock received 0.064948 shares of C-W Class B Common Stock for each share of Unitrin Common Stock held. The aggregate fair value of C-W shares distributed, based on the closing price before the ex-distribution date for the spin-off, was $196.1 million, or $2.91 per Unitrin Common Stock.

Title
Notice of Distribution and Information Statement
Tax Basis Letter and Form
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Acquisition of Infinity

On July 2, 2018, Kemper Corporation (“Kemper”) announced that it has closed the acquisition of Infinity Property and Casualty Corporation (“Infinity”), a leading provider of auto insurance focused on serving the specialty, nonstandard segment. The information contained in the below attachment includes a general summary regarding the application of certain U.S. federal income tax laws and regulations relating to the effects of the merger on the tax basis of the common shares of Kemper issued in connection with the merger. The information contained therein does not constitute tax advice and does not purport to be complete or to describe the consequences that may apply to particular categories of stockholders. Former holders of Infinity common stock are urged to consult their tax advisors regarding the particular tax consequences of the merger, including the applicability of federal, state, local and foreign tax laws.

Title
Tax Basis Letter
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