Kemper Prices Public Offering of Common Stock

Kemper Corporation KMPR announced today the pricing of its previously announced underwritten public offering of 1,350,000 shares of its common stock. Kemper has also granted the underwriter a 30-day option to purchase up to 202,500 additional shares of its common stock. Credit Suisse is acting as sole underwriter for the offering.

Kemper expects gross proceeds from this offering of approximately $112.1 million (or approximately $128.9 million if the option to purchase additional shares of common stock is exercised in full). Kemper intends to use the net proceeds from this offering together with other funds to redeem all $150.0 million aggregate principal amount of its 7.375% Subordinated Debentures due 2054.

This offering is expected to close on June 7, 2019, subject to customary closing conditions.

The offering is being made pursuant to an effective shelf registration statement previously filed by Kemper on May 8, 2017 with the Securities and Exchange Commission (the "SEC"). The offering of these securities is being made only by means of a prospectus supplement and accompanying prospectus, copies of which may be obtained on the website of the SEC at www.sec.gov or by contacting Credit Suisse Securities (USA) LLC, Attn: Prospectus Department, Eleven Madison Avenue, 3rd floor, New York, NY 10010, Telephone: 1-800-221-1037, Email: usa.prospectus@credit-suisse.com.

This press release does not constitute an offer to sell or a solicitation of an offer to buy any securities, nor does it constitute an offer, solicitation or sale in any state or other jurisdiction in which such offer, solicitation or sale is unlawful. In addition, this press release does not constitute a notice of redemption with respect to Kemper's 7.375% Subordinated Debentures due 2054.

About Kemper

Kemper Corporation KMPR is one of the nation's leading specialized insurers. With over $12 billion in assets, Kemper is improving the world of insurance by providing affordable and easy-to-use personalized solutions to individuals, families and businesses through its Auto, Personal Insurance, Life and Health brands. Kemper serves over 6.4 million policies, is represented by more than 30,000 agents and brokers, and has over 8,000 associates dedicated to meeting the ever-changing needs of its customers.

Cautionary Statements Regarding Forward-Looking Information

This press release may contain information that includes or is based on forward-looking statements within the meaning of the safe-harbor provisions of the Private Securities Litigation Reform Act of 1995. Forward-looking statements give expectations or forecasts of future events and can be identified by the fact that they relate to future actions, performance or results rather than strictly to historical or current facts.

Any or all forward-looking statements may turn out to be wrong, and, accordingly, readers are cautioned not to place undue reliance on such statements, which speak only as of the date of this press release. Forward-looking statements involve a number of risks and uncertainties that are difficult to predict and are not guarantees of future performance. No assurances can be given that the results and financial condition contemplated in any forward-looking statements will be achieved or will be achieved in any particular timetable. Kemper assumes no obligation to publicly correct or update any forward-looking statements as a result of events or developments subsequent to the date of this press release. The reader is advised, however, to consult any further disclosures Kemper makes on related subjects in its filings with the SEC.

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