FBL Financial Group Announces Adjournment of Special Meeting of Shareholders to May 21

FBL Financial Group, Inc. (NYSE: FFG) (“FBL Financial Group” or “the Company”) today convened and then adjourned the Special Meeting of Shareholders of the Company (the “Special Meeting”) to approve, among other things, the proposal to adopt the definitive agreement (the “Merger Agreement”) pursuant to which Farm Bureau Property & Casualty Insurance Company (“FBPCIC”) would acquire all of the outstanding shares of FBL Financial Group Class A and Class B common stock, excluding shares owned by FBPCIC and the Iowa Farm Bureau Federation (“IFBF”), for $56.00 per share in cash. Following a vote by shareholders in favor of the proposal to adjourn the Special Meeting to solicit additional proxies, the Special Meeting was adjourned to May 21, 2021 at 10:00 a.m. Central Time at the Company’s headquarters at 5400 University Avenue, West Des Moines, Iowa 50266.

The approval of the Merger Agreement requires, among other things, the affirmative vote of holders of at least a majority of all outstanding common shares held by all of the holders of outstanding common shares excluding IFBF and its affiliates, FBPCIC and its affiliates, and the directors and officers of IFBF and FBPCIC and their affiliates (the “Unaffiliated Shareholder Vote”). Based on a preliminary assessment of votes received by the Company’s proxy solicitor, the Unaffiliated Shareholder Vote had not been obtained as of April 29, 2021. Accordingly, the Special Meeting is being adjourned to provide the Company with additional time to solicit proxies from its shareholders to obtain the Unaffiliated Shareholder Vote.

The members of the Special Committee of the FBL Financial Group Board of Directors recommend that their fellow shareholders vote “FOR” the proposed transaction on the WHITE proxy card.

The record date for the adjourned Special Meeting remains March 11, 2021. Shareholders who have already voted do not need to recast their votes unless they wish to change their votes. Proxies previously submitted will be voted at the reconvened meeting unless properly revoked. Shareholders who have not already voted or wish to change their vote are encouraged to do so promptly using the instructions provided in their voting instruction form or proxy card.

If shareholders have questions about how to vote their shares, they should immediately contact the Company’s proxy solicitor, Okapi Partners, at [phone] or at [e-mail].

About FBL Financial Group

FBL Financial Group is a holding company with the purpose to protect livelihoods and futures. Operating under the consumer brand name Farm Bureau Financial Services, its affiliates offer a broad range of life insurance, annuity and investment products distributed by multiline exclusive Farm Bureau agents. Helping complete the financial services offering, advisors offer wealth management and financial planning services. In addition, FBL Financial Group manages all aspects of two Farm Bureau affiliated property-casualty insurance companies for a management fee. Headquartered in West Des Moines, Iowa, FBL Financial Group is traded on the New York Stock Exchange under the symbol FFG. For more information, please visit www.fblfinancial.com and www.fbfs.com.