UnitedHealth Group 401(k) Savings Plan

Qualified Automatic Enrollment, Safe Harbor and Qualified Default Investment Notice

Date: November, 2020

To: All Participants

You are receiving this notice because you are eligible to participate in the UnitedHealth Group 401(k)
Savings Plan (the “Plan”). The Plan provides for automatic enrollment, “safe harbor” matching
contributions and a qualified default investment feature. By making safe harbor matching contributions
and complying with certain other requirements, the Plan is deemed to be nondiscriminatory under the
Internal Revenue Code with regard to contributions. This notice contains a description of the Plan’s
automatic enrollment feature, safe harbor matching contribution, other types of contributions, default
investment feature, vesting requirements and circumstances permitting withdrawals and distributions.

Please consider the following information when deciding whether you want to participate in the Plan
and how much you want to contribute to the Plan.

1. Automatic enrollment in the Plan. Employees who are hired or become eligible for the Plan will
generally be automatically enrolled at a pretax contribution rate of 3% of eligible pay as of their second
pay date following their eligibility date under the Plan unless they elect a different contribution rate or
choose not to contribute (by selecting a 0% rate) by 3 p.m. CT on the Wednesday after their first pay
date following their eligibility date under the Plan. Participants will have access to their account at
Fidelity, provider of recordkeeping services, as soon as administratively possible following their date of
hire. Employees will not be automatically enrolled in Roth contributions.

Employees may opt out or change their contribution rate or investment election in the Plan by logging
on to Fidelity NetBenefits® at www.NetBenefits.com or by calling 800-624-4015.

Eligible employees who opt out of contributing to the Plan may elect to enroll at any time.

2. Limited period for newly eligible employees to request withdrawal of pretax contributions. If
you are automatically enrolled at a pretax contribution rate of 3%, you will have 90 days from the first
pay date on which pretax contributions are deducted from your eligible pay to request a refund of your
pretax contributions (including associated earnings and losses). You may request a refund of your
pretax contributions by calling 800-624-4015. Special rules apply to rehired employees and can be
found in section 4 below.

3. Automatic contribution increases. If you participate in the Plan and contribute less than 6% but
at least 1% of your eligible pay as pretax and/or Roth contributions, the Plan will automatically increase
your contribution rate annually on Feb. 1 (the automatic increase date) by 1% unless you affirmatively
make a different election. Your increases will be to your pretax contribution rate, unless you have
elected to contribute only Roth, in which case your Roth contribution rate will be increased instead. If,
however, you affirmatively elect a different automatic increase schedule and automatic increase date,
the Plan will follow your affirmative election.

Employees may opt out of the annual automatic increase or elect a different contribution rate by logging
on to NetBenefits.com or by calling 800-624-4015.

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4. Special rules for rehired employees. If you were rehired, review the chart below to determine if
special rules apply to your status.

Rehired Within Less Than One Full Rehired After at Least One Full Plan
Initial Election During
Plan Year (the Plan Year is Jan. 1 Year (the Plan Year is Jan. 1 through
Previous Employment
through Dec. 31) Dec. 31)

If you actively made or Enrollment: You will be automatically Enrollment: You will be automatically
changed your Plan enrolled at 3% with annual pretax enrolled at 3% with annual pretax
contribution election (also increases on each automatic increase increases on each automatic increase
called an affirmative date following your rehire date, unless date following your rehire date, unless you
election), or you make an election. make an election.

If you were automatically Limited Period for Withdrawal: You are Limited Period for Withdrawal: You will be
enrolled, but canceled not eligible to withdraw default eligible to withdraw default contributions.
automatic enrollment and contributions.
withdrew default
contributions

If you were automatically Enrollment: You will be automatically Enrollment: You will be automatically
enrolled, and did not cancel enrolled at the rate in effect at enrolled at 3%, with annual pretax
automatic enrollment or termination, plus any annual pretax increases on each automatic increase
withdraw default increases that would have occurred date following your rehire date, unless you
contributions during your absence, unless you make make an election.
an election.
Limited Period for Withdrawal: You will be
Limited Period for Withdrawal: You are eligible to withdraw default contributions.
not eligible to withdraw default
contributions.

5. Changing your contribution election. Once you are enrolled, you may change your contribution
election at any time either by logging on to NetBenefits.com or by calling 800-624-4015. This includes
changing any contribution rate applied under the automatic increase feature described above.

6. Pretax and Roth contributions. You may contribute from one to 50% of eligible pay in pretax
and/or Roth contributions. Your pretax contributions are made before any federal (and generally state)
income taxes are withheld and such contributions and earnings are taxed at a later date upon
distribution from the Plan. Your Roth contributions are made in the same manner as pretax contributions
but after income taxes are withheld. The earnings on such Roth contributions are tax-free if distributed
as a “qualified distribution” (generally a distribution from an eligible retirement plan following a period in
which five years have passed since the year you made your first Roth contribution, and the distribution
is made after you attained at least age 59½ or is made on account of your disability or death). The IRS
limit on combined pretax contributions and Roth contributions is $19,500 for 2021.

Your “eligible pay” generally means salary and other compensation paid to you by your employer and
reported in the box designated “Wages, tips and other compensation” on your Form W-2. Eligible pay
also includes any pretax contributions toward the cost of any health and wellbeing benefits you elect
under the employer’s health plan, as well as any pretax contributions you make under the employer’s
transportation reimbursement program, and dependent care reimbursement program, and any
compensation you defer to any qualified retirement plan sponsored by the employer. Your eligible pay
also includes any benefits that are paid to you under the employer’s short-term disability plan. Eligible
pay does not include reimbursements or other expense allowances, welfare and fringe benefits, moving
expenses and certain other items that are included on your Form W-2. See the definition of Pay in the
Summary Plan Description for further information.

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7. Catch-up contributions. If you will be age 50 or older by the end of 2021, you may make additional
pretax contributions and/or Roth contributions of up to a combined limit of $6,500 for 2021 (known as
“catch-up” contributions). If you are eligible to make catch-up contributions in 2021, you may contribute
up to 50% of eligible pay for pretax and/or Roth contributions and up to 50% of eligible pay for catch-up
contributions, provided your combined rate does not exceed 80% of eligible pay. You may be required
to be making pretax and/or Roth contributions at the rate of at least 6% before you can enroll in catch-
up contributions.

8. Rollover contributions. You may elect to roll over money you currently have in other eligible
retirement plans to the Plan.

9. Safe harbor matching contributions. Once you are credited with one year of service with your
employer, you will be eligible to receive matching contributions. Your employer will match:

• $1 for each $1 you contribute to the Plan (as pretax contributions, Roth contributions, and/or catch-
up contributions) on the first 3% of your eligible pay, and

• 50 cents for each $1 you contribute to the Plan (as pretax contributions, Roth contributions, and/or
catch-up contributions) above 3% up to 6% of your eligible pay.

Your employer will match a maximum of 4½% of your eligible pay if you contribute 6% of your eligible
pay each bi-weekly pay period. The matching contribution is made each pay period and may be limited
by certain IRS limits, including the IRS compensation limit of $290,000 for 2021. You must make pretax,
Roth and/or catch-up contributions to receive the matching contribution.

10. Other contributions. In addition to the contributions described above, you may also receive other
contributions from the Plan like prevailing wage contributions or have other contributions (such as after-
tax contributions, prior employer contributions, ESOP QNEC contributions, and ESOP contributions) in
your Plan account from historical Plan provisions or from a prior plan that was merged with the Plan.

11. Applicable vesting provisions. Safe harbor matching contributions are fully vested (i.e., 100%
non-forfeitable) after you have completed two years of service. Your contributions also become fully
vested if you reach age 65, become disabled, or die while you are employed by your employer or certain
of its affiliates. In addition, your pretax contributions, Roth contributions, catch-up contributions, after-
tax contributions (if any), rollover contributions, prior employer contribution account (if any) and ESOP
QNEC account (if any) are fully vested at all times.

12. Applicable withdrawals provisions. Generally, you cannot withdraw contributions except upon
your severance from employment from your employer or certain of its affiliates, your death or disability.
You may, however, be eligible to withdraw all or a portion of your account balance while employed.

• After-tax accounts (other than Roth contributions). If you have an after-tax contributions account,
you may withdraw all or a portion of your after-tax account at any time.

• Rollover accounts. If you have a rollover account, you may withdraw all or a portion of your rollover
account at any time.

• Attainment of age 59½. If you have attained age 59½, you may withdraw all or a portion of your
vested account balance under the Plan at any time.

• Hardship withdrawal. If you experience a financial hardship, you may request a hardship withdrawal
($500 minimum) from the vested portion of your account (subject to certain exclusions). A hardship

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 withdrawal is permitted under the Plan for certain limited purposes and only after you have received
all other available withdrawals from the Plan.

• Military Distributions. You may request a distribution of your pretax, Roth, catch-up contributions if
you are a member of a reserve component and you are called to active duty for an indefinite period
or for a period to exceed 179 days. In addition, you may withdraw all or a portion of your account if
you are called into active duty in qualified military service for more than 30 days.

• Loans. You may have up to two outstanding loans from the Plan at any time.

See the Account Loans & Withdrawals section in the Summary Plan Description for further information.

13. Investment of contributions if you do not make an investment election. If you do not make an
investment election before: (1) making pretax or Roth contributions (either through the automatic
enrollment provisions described in section 1 above or through your own election), (2) making catch-up
contributions, (3) making a rollover contribution or (4) receiving a safe harbor matching contribution,
such contributions will be invested in the Plan’s qualified default investment alternative (the “QDIA”)
until you elect to change your investments in the Plan. In order to avoid having contributions contributed
to the QDIA under the automatic enrollment provisions described in section 1 above, you must make
an alternative investment election either by logging on to NetBenefits.com or by calling 800-624-4015.
You will have access to your Fidelity account and be able to make changes to your investments as soon
as administratively possible following your date of hire.

Until you change your investments for your existing account balance, your existing account balance will
remain invested in the QDIA. Until you change your investments for any future contributions, your future
contributions will also be invested in the QDIA. You may change your investments at any time.

14. Information regarding the Plan’s QDIA. In accordance with Section 404(c)(5) of the Employee
Retirement Income Security Act of 1974 and Department of Labor Regulations Section 2550.404c-5,
no fiduciary of the Plan will be liable for any losses that are the consequence of the investment in the
QDIA of the account of a participant or beneficiary who does not select an investment fund. The
following information regarding the QDIA is provided to you in accordance with Department of Labor
Regulations. The Plan’s QDIA is the Wells Fargo Target CIT Class E3 funds. The QDIA is designed for
investors expecting to retire around the year indicated in each fund’s name. The asset allocation
strategy is managed to gradually reduce the potential market risk exposure over time. Additional
information regarding the QDIA, including fees, expenses and investment approaches, is located at the
end of this notice and is also available from Fidelity at NetBenefits.com or by calling 800-624-4015.

15. Fees and expenses of QDIA. The Wells Fargo Target CIT Class E3 funds currently have an annual
“expense ratio” of 0.06%. In general, the expense ratio is the percentage of the fund’s assets used to
pay its total operating expenses. These expenses include, among other things, fees for the
administration and management of the QDIA, and are netted out of the assets of the investment option
and daily return.

Certain other fees, such as for recordkeeping, asset custody and trustee services, account access and
customer service support, are paid from the fees charged to participant accounts with a balance of
$1,000 or more on a quarterly basis, reflected on participants’ quarterly statements.

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16. Investment elections. Even if some or all of your account is invested in the QDIA, you have the
continuing right to direct the investment of the portion of your account invested in the other investment
options that are available under the Plan. You are also entitled to transfer the amount invested in the
QDIA to the other investment options without incurring transfer fees or expenses. You can change your
investments by logging on to NetBenefits.com or by calling 800-624-4015.

If you want your investment change to be effective on the day you make it, you must submit the new
election before the close of the New York Stock Exchange, which is generally 3 p.m. CT weekdays.

17. Additional information. You may obtain further information about the QDIA, the Plan’s other
investment options and your rights or obligations under the Plan by logging on to NetBenefits.com or
by calling 800-624-4015.

This notice is required by law and is provided to each individual who is eligible to participate in the
UnitedHealth Group 401(k) Savings Plan. You may request and receive this notice on a written
paper document at no charge by calling Fidelity at 800-624-4015.

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 Wells Fargo Target CIT Class E3 Funds

The Wells Fargo Target CIT Class E3 funds are used as the Plan’s QDIA and are based on the assumption
that the participant will retire at age 65. Please use the chart below to determine in which Wells Fargo
Target CIT Class E3 fund your future contributions will be directed, based on your date of birth at Fidelity
Investments. Your contributions will automatically be invested in the Wells Fargo Target CIT Class E3
fund in the event you do not make an investment election. You are free to change your investment election
any time by logging on to Fidelity NetBenefits® at www.NetBenefits.com or by calling 800-624-4015.

Strategic Allocation Targets

Before 1943 or missing / Wells Fargo Target Today CIT 0.06% 30% 70%
invalid date of birth Class E3

Jan. 1, 1943 to Dec. 31, 1947 Wells Fargo Target 2010 CIT 0.06% 32% 68%
Class E3

Jan. 1, 1948 to Dec. 31, 1952 Wells Fargo Target 2015 CIT 0.06% 36% 64%
Class E3

Jan. 1, 1953 to Dec. 31, 1957 Wells Fargo Target 2020 CIT 0.06% 46% 54%
Class E3

Jan. 1, 1958 to Dec. 31, 1962 Wells Fargo Target 2025 CIT 0.06% 53% 47%
Class E3

Jan. 1, 1963 to Dec. 31, 1967 Wells Fargo Target 2030 CIT 0.06% 68% 32%
Class E3

Jan. 1, 1968 to Dec. 31, 1972 Wells Fargo Target 2035 CIT 0.06% 82% 18%
Class E3

Jan. 1, 1973 to Dec. 31, 1977 Wells Fargo Target 2040 CIT 0.06% 91% 9%
Class E3

Jan. 1, 1978 to Dec. 31, 1982 Wells Fargo Target 2045 CIT 0.06% 95% 5%
Class E3

Jan. 1, 1983 to Dec. 31, 1987 Wells Fargo Target 2050 CIT 0.06% 95% 5%
Class E3

Jan. 1, 1988 to Dec. 31, 1992 Wells Fargo Target 2055 CIT 0.06% 95% 5%
Class E3

Jan. 1, 1993 and later Wells Fargo Target 2060 CIT 0.06% 95% 5%
Class E3
A more detailed description of the Wells Fargo Target CIT Class E3 funds is provided on the
following page.
_______________________
1Gross Expense Ratio is as of 09/30/2020.

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Wells Fargo Target CIT Class E3 Funds

Objective: Seeks total return over time, consistent with its strategic target allocation.
Strategy: The investment strategy is to gradually reduce the Fund's potential market risk exposure
over time by re-allocating its assets among two major asset classes: equity, and fixed income. The
allocation among the two major asset classes generally becomes more conservative as the Fund's
target year approaches and after it arrives. The Fund will exhibit higher market risk in its early years
and lower market risk in the years approaching its target year. At more than 25 years prior to the target
year, the Fund's targeted equity exposure is set at 95%. Around 25 years before the target year, the
Fund will begin to gradually reduce market risk, and at the fund's target year, equity exposure will be
about 45%. The monthly risk reductions continue until twenty years after the Fund's target year. Once
a Fund reaches that date, it targets 30% equity exposure. Target date funds are designed for investors
expecting to retire around the year indicated in each fund's name. The investment risk of each target
date fund changes over time as its assets are re-allocated amongst equity and fixed income securities
as determined by its strategic glidepath. The funds are managed to gradually become more
conservative over time as they approach their target date. The funds are subject to the volatility of the
financial markets, including that of equity and fixed income investments in the U.S. and abroad.
Principal invested is not guaranteed at any time, including at or after their target dates. Additional risk
information for this product may be found in the disclosure document or other product materials, if
available.

The allocation targets for each fund as of September 2020 are listed in the table above.
Risk: Target date funds are designed for investors expecting to retire around the year indicated in each
fund's name. The investment risk of each target date fund changes over time as its assets are re-
allocated amongst equity, fixed income and money market securities as determined by its strategic
glide path. The funds are managed to gradually become more conservative over time as they approach
their target date. The funds are subject to the volatility of the financial markets, including that of equity
and fixed income investments in the U.S. and abroad. Fixed income investments carry issuer default
and credit risk, inflation risk, and interest rate risk. (As interest rates rise, bond prices usually fall, and
vice versa. This effect is usually more pronounced for longer-term securities.) Principal invested is not
guaranteed at any time, including at or after their target dates. Additional risk information for this
product may be found in the disclosure document or other product materials, if available.
Short-term redemption fee: None
Footnotes for all Funds:
The investment option is a collective investment trust. It is managed by Wells Fargo Bank, N.A. This description
is only intended to provide a brief overview of the fund. This investment option is not a mutual fund.

Read the CITs disclosure document for more detailed information about the CITs.

The information contained herein has been provided by the Plan administrator and is solely the responsibility of the Plan administrator.

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