Lincoln Financial Group (LNC) (the “Company”) today announced the pricing terms of its previously announced cash tender offer (the “Offer”) for its 6.15% Senior Notes due 2036 (the “6.15% Notes”) and its 4.85% Senior Notes due 2021 (the “4.85% Notes”, and together with the 6.15% Notes, the “Notes”, and each, a “series” of Notes) up to an aggregate purchase price of $150 million (the “Maximum Tender Amount”), and in the case of the 4.85% Notes, up to $50 million aggregate principal amount (the “Series Cap”). The terms and conditions of the Offer are described in the Offer to Purchase, dated August 12, 2019 (the “Offer to Purchase”), and the related Letter of Transmittal (the “Letter of Transmittal”). The Total Consideration (as defined in the Offer to Purchase) for each series of Notes is based on the applicable reference yield plus a fixed spread, in each case as set forth in the table below, and is payable to holders of the Notes who validly tendered and did not validly withdraw their Notes at or prior to 5:00 p.m., New York City time, on August 23, 2019 (the “Early Tender Deadline”) and whose Notes are accepted for purchase by the Company.

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