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*$100 invested on December 31, 2004, in stock or index, including reinvestment of dividends. Fiscal year ending December 31.

Copyright © 2015 Standard & Poor’s, a division of The McGraw-Hill Companies, Inc. All rights reserved.

2004

2005

2006

2007

2008

2009

2010

2011

2012

2013

2014

100.00 117.73 118.07 163.23 121.63 127.04 158.66 124.85 157.76 203.38 190.59

100.00 104.91 121.48 128.16 80.74

102.11 117.49 119.97 139.17 184.25 209.47

1100.00 122.51 142.74 158.45 81.89

94.64 118.54 93.99

107.71 176.08 179.50

S&P 500

Aflac Incorporated

S&P Life & Health Insurance

0

50

100

150

200

$250

2004

2005

2006

2007

2008

2009

2010

2011

2012

2013

2014

100.00 117.73 118.07 163.23 121.63 127.04 158.66 124.85 157.76 203.38 190.59

100.00 104.91 121.48 128.16 80.74

102.11 117.49 119.97 139.17 184.25 209.47

1100.00 122.51 142.74 158.45 81.89

94.64 118.54 93.99

107.71 176.08 179.50

S&P 500

Aflac Incorporated

S&P Life & Health Insurance

0

50

100

150

200

$250

Among Aflac

Incorporated,

the S&P 500 Index

and the S&P Life &

Health Insurance Index

Among Aflac

Incorporated,

the S&P 500 Index

and the S&P Life &

Health Insurance Index

Comparison of Ten-Year Cumulative Total Return*

*$100 invested on December 31, 2009, in stock or index, including reinvestment of dividends. Fiscal year ending December 31.

Copyright © 2015 Standard & Poor’s, a division of The McGraw-Hill Companies, Inc. All rights reserved.

Comparison of Five-Year Cumulative Total Return*

2009

2010

2011

2012

2013

2014

100.00

124.89

98.27

124.18

160.09

150.03

100.00

115.06

117.49

136.30

180.44

205.14

100.00

125.25

99.31

113.80

186.04

189.67

S&P 500

Aflac Incorporated

S&P Life & Health Insurance

0

50

100

150

200

$250

2009

2010

2011

2012

2013

2014

100.00

124.89

98.27

124.18

160.09

150.03

100.00

115.06

117.49

136.30

180.44

205.14

100.00

125.25

99.31

113.80

186.04

189.67

S&P 500

Aflac Incorporated

S&P Life & Health Insurance

0

50

100

150

200

$250

33