Triple-S Management shareholders approve combination with GuideWell

San Juan, Puerto Rico, December 13, 2021 / PRNewswire / – Triple-S management company (NYSE: GTS) (“Triple-S”), a leading health services company in Porto Rico, today announced that the merger with GuideWell Mutual Holding Corporation (“Guide“), a healthcare solutions company and parent of Blue Cross and Blue Shield of Florida, Inc. (“Florida Blue”), has been approved by the shareholders of Triple-S.

The merger agreement was approved and adopted by approximately 72% of the issued and outstanding shares of Triple-S common stock as of the date of November 2, 2021 date of registration of the extraordinary shareholders’ meeting held on December 10, 2021. A Form 8-K disclosing the full results of the vote will be filed with the Security and Trade Commission.

The transaction is expected to be finalized by the end of the second quarter of 2022, subject to the satisfaction of normal closing conditions and the approval of the Office of the Insurance Commissioner of Puerto Rico. Upon completion of the transaction, Triple-S will become a wholly owned subsidiary of Guide and will continue to operate under the Triple-S brand.

About the Triple-S management company

Triple-S, a healthcare services company, serves over one million customers in Porto Rico, which represents almost a third of the island’s population. With over 60 years of experience, it is the premier insurance and managed care brand, with the largest customer base and broadest provider networks on the island. Triple-S has the exclusive right to use the Blue shield of the blue cross name and brand everywhere Porto Rico, the US Virgin Islands, Costa Rica, the British Virgin Islands and Anguilla, and offers a broad portfolio of managed care and related products in the commercial, Medicare Advantage and Medicaid segments. Triple-S is also a well-known brand in the life insurance and property & casualty insurance segments in Porto Rico, with strong customer relationships and a significant market share. For more information on Triple-S, visit www.triplesmanagement.com or contact [email protected].

On Guide

Guide is a not-for-profit mutual holding company and the parent company of a forward-thinking family of businesses focused on healthcare transformation. the Guide organization includes Florida Blue, the leading health insurance company in Florida; Guide, a portfolio of clinical delivery organizations; GuideWell Venture Group, a portfolio of companies, including Health over life and PopHealthCare, focused on creating innovative, human-centered health solutions for health plans; GuideWell Source, an administrative service provider to state and federal health care programs; and WebTPA, one of the leading administrators in the self-funded employer health plan market. In total, Guide and its affiliates serve more than 45 million people in 45 states. For more information visit www.guidewell.com.

About Florida Blue

Florida Blue, that of Florida Blue Cross and Blue Shield company, provided health insurance to residents of Florida for over 75 years. Driven by its mission to help people and communities improve their health, the company serves more than 5 million health care workers across the state. Based at Jacksonville, Florida, he is an independent licensee of Blue Cross and Blue Shield Association.

Forward-looking statements

This document contains forward-looking statements, as defined in the Private Securities Litigation Reform Act of 1995. Forward-looking statements include information about possible or suspected future sales, results of operations, developments, regulatory or other approvals. circumstances. Phrases that include “believe”, “expect”, “plan”, “intend”, “estimate”, “anticipate”, “plan”, “can”, “can”, “should”, ” should ”and similar expressions, whether positive or negative, are intended to identify forward-looking statements.

All forward-looking statements contained in this press release reflect the current views of management on future events and are based on assumptions and are subject to risks and uncertainties. Therefore, actual results may differ materially from those expressed here due to various factors, including any risks discussed and identified in public documents filed with the United States Securities Commission (SECOND). These risks and uncertainties include, but are not limited to: the risk of a material delay in completing the proposed transaction; the risk that a condition to close the Proposed Transaction will not be met or that the close of the Proposed Transaction will not otherwise occur; the risk that regulatory approval which may be required for the proposed transaction will not be obtained or will be obtained subject to conditions that are not anticipated; risks associated with the disruption of the management time of current business operations as a result of the proposed transaction; and the risk that a potential litigation in connection with the proposed transaction could affect the timing or occurrence of the proposed transaction or result in significant defense, indemnification or liability costs.

In addition, Triple-S operates in a highly competitive and ever-changing environment influenced by very large organizations resulting from business combinations, aggressive marketing and pricing practices by competitors, and regulatory oversight. The following factors, if they differ materially from Triple-S’s planning assumptions (individually or in combination), could cause Triple-S’s results to differ materially from those expressed in the forward-looking statements shared here:

• Trends in health care costs and utilization rates
• Ability to obtain sufficient increases in premium rates
• Competitive prices below market trends for cost increases
• Re-estimates of policy and contract liabilities and reserves
• Changes in government laws and regulations relating to care management, life insurance or property and casualty insurance
• Significant acquisitions or disposals by major competitors
• Introduction and use of new prescription drugs and technologies
• A downgrade in Triple-S’s financial strength ratings
• Litigation or Legislation Involving Managed Care, Life Insurance, or P&C Insurance Companies
• Ability to contract with providers and government agencies in accordance with past practices
• Ability to successfully implement Triple-S disease management, utilization management and star rating programs
• Ability to maintain federal employee contracts, Medicare and Medicaid
• Volatility of securities markets and investment losses and defaults
• General economic downturns, major disasters and epidemics

This list is not exhaustive. Management believes that the forward-looking statements contained in this press release are reasonable. However, there can be no assurance that the actions, events or results anticipated by the forward-looking statements will occur or, if any of them occur, what impact they will have on the results of operations or the financial condition of Triple-S. . In light of these uncertainties, investors should not place undue reliance on forward-looking statements, which are based on current expectations. In addition, forward-looking statements are based on information available on the day they are made, and (except as required by applicable law, including securities laws of United States) Triple-S does not intend to update or revise any of them in the light of new information or future events.

Readers are advised to carefully review and review the various information contained in the Triple-S SEC Reports.

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