Ballot

EIOWBallot5b.qxd 10/27/00 4:29 PM Page 1 X Please mark your votes as in this example. EMPLOYERS INSURANCE OF WAUSAU A Mutual Company SPECIAL MEETING OF MEMBERS TO BE HELD ON FEBRUARY __, 2001 To adopt the Mutual Holding Company Plan, dated as of September 14, 2000. FOR AGAINST B A L L O T Signature of Policyholder/Member: Please sign exactly as name or names appear hereon. If the policyholder is a corporation or partnership, this ballot should be signed by an authorized officer or partner as the case may be. Date Signed: DETACH AND RETURN TOP PORTION EMPLOYERS INSURANCE OF WAUSAU A Mutual Company SPECIAL MEETING OF MEMBERS TO BE HELD ON FEBRUARY __, 2001 B A L L O T The above Policyholder and therefore a Member of EMPLOYERS INSURANCE OF WAUSAU A Mutual Company (“ EIOW” hereby votes at the Special Meeting of Members to be held on February __, 2001, at 10:00 a.m., Central ) Standard Time, at EIOW’ office located at 2000 Westwood Drive, Wausau, Wisconsin, upon the matter set forth below s and described in the Policyholder Information Statement dated November __, 2000. The ballot must be marked with a vote either FOR adoption of the Mutual Holding Company Plan or AGAINST adoption of the Mutual Holding Company Plan. If a ballot contains a vote both FOR and AGAINST the Mutual Holding Company Plan, such ballot will not be cast. If the ballot is executed but no choice is indicated, the ballot will be voted FOR the adoption of the Mutual Holding Company Plan. Please complete, sign, date and either promptly return this ballot in the enclosed envelope or bring this ballot to the Special Meeting of Members to cast in person. Mailed ballots must be received by 5:00 p.m., Eastern Standard Time, on February __, 2001 in order to be counted. Each policyholder is entitled to one vote. [EMPLOYERS INSURANCE OF WAUSAU BALLOT eiow] [FILE NAME: EIOWBallot5b.QXD] [VERSION - 1] [10/27/00 (10/27/00)]

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