#1United Insurance Holdings Corporation (NASDAQ: UIHC) Investor Presentation August 4, 2021 UPC INSURANCE®#2Company Overview UPC Insurance is a specialty underwriter of catastrophe exposed property insurance in the U.S. United Insurance Holding Corp. (NASDAQ: UIHC) was founded in 1999 and is the insurance holding company for 5 P&C carriers and operating affiliates operating under the brand UPC Insurance (UPC). UPC has the #1 market share of commercial residential property insurance (commercial lines) in Florida with over 6,000 policies and $391 million of premium in-force. Journey Insurance Company, our AM Best rated carrier formed in partnership with Tokio Marine Kiln, has expanded our commercial underwriting capabilities into Texas and South Carolina and is poised for profitable growth. UPC's homeowners & fire insurance products (personal lines) are now focused on New York and 6 southeastern coastal states, with roughly 478,000 policies and $870 million of premium in-force. 1 Specialty Commercial Property Underwriters AmCoastal A UPC Insurance Company JOURNEY™ INSURANCE UIHC as of June 30, 2021 Total Assets: Total Equity: Premium in-Force: Employees: Headquarters: Financial Strength Ratings: $3.15 billion $339 million $1.26 billion 1 477 St. Petersburg, FL A- (Kroll) A- (AM Best) 2 A (Demotech) Specialty Homeowners Underwriters UPC INSURANCE® FAMILY SECURITY We Keep It Simple INSURANCE A UPC Insurance Company INTERBORO INSURANCE™ A UPC Insurance Company 1 Excludes discontinued territories or where renewal rights have been sold 2 AM Best rating for Journey Insurance Company only 2#3Corporate Strategy We seek to be a top-quartile specialty underwriter of CAT exposed property insurance Highly Specialized Coastal Underwriter Innovative Reinsurance Programs & Long- Standing Partnerships UPC INSURANCE® Sophisticated Risk Selection and Exposure Management Proprietary, Scalable Technology to Price & Service Risks Favorable market dynamics including hard market pricing and an improving regulatory backdrop expected to serve as a tailwind to executing our strategy and improving underwriting profitability 3#4Q2-2021 Executive Summary We made progress on several initiatives this quarter to reduce volatility and improve results over time Reinsurance 1 Renewal Successful 2 Underwriting Improvements 3 Focus on Technology 4 Exposure Management Working Lowered retention and added aggregate stop-loss feature for named windstorm Maintained cascading aggregate structure providing superior 1st event protection Modest single digit risk-adjusted cost increase captured in rate indications Adjusting replacement cost estimates to ensure proper insurance-to-value Florida rate increase of 14.7% effective 7/1 for new and renewal business Anticipate average rate increase near 20% for Q3 due to overlapping changes Created new COO role to lead insurance operations filled by our CIO, Chris Griffith Skyway Technologies direct-to-consumer platform nearing launch Legacy policy system conversions to new Agent Connect platform going well Since 12/31/20, pooled group premium in-force is up +5%, but TIV is down -6% Portfolio optimization improving model expected loss estimates (PML and AAL) Targeting risks in the bottom quartile of our underwriting profitability framework#5Q2-2021 Results Higher reinsurance and loss costs drove the y/y decline in core earnings Core income (loss) Q2-20 Change Q2-21 $ (24,636) $ 8,816 -379.5% $ (0.57) $ 0.20 per diluted share (CEPS) Included the following items Net current year catastrophe loss & LAE incurred $ 40,257 $ 29,799 Net (favorable) unfavorable reserve development Total items $ (372) $ (823) $ 39,885 $ 28,976 Core income (loss) excluding items CEPS excluding items $ 6,873 $ 13,022 -47.2% $ 0.16 $ 0.30 Direct Loss & LAE ratio - NonCAT Direct Loss & LAE ratio - CAT Gross expense ratio 33.4% 26.3% 7.1 pts 25.5% 22.2% 3.3 pts 19.1% 24.0% (5.0) pts Net loss & LAE ratio - NonCAT 53.5% 38.8% 14.7 pts Net loss & LAE ratio - CAT 27.7% 16.0% 11.7 pts Net expense ratio 46.7% 44.6% 2.1 pts Combined ratio 127.9% 99.4% 28.5 pts Net current year catastrophe loss & LAE incurred -27.7% -16.1% Net favorable (unfavorable) reserve development Underlying combined ratio 0.3% 100.5% 0.4% 83.7% 16.8 pts 5#6Business Mix is Shifting We seek to grow Commercial and reduce Personal lines exposures over the next 3 years Products Coastal-exposed Markets (2) Distribution GPW by Line of Business ($MMs) Personal Lines ■Commercial Lines Personal Lines Homeowners Policy (1) (core to strategy) Condominium & Dwelling Fire Policies (core to strategy) Florida (40.4% of GPW) Gulf (26.4% of GPW) Strategic Partners Independent Agents • Southeast (12.8% of GPW) Northeast (20.3% of GPW) New Direct to Consumer (DTC / Skyway Technologies) beginning in 2H21 Commercial Lines Commercial Residential Policy (core to strategy) E&S Commercial Residential Policy (launch targeted in 2022) Florida (98.0% of GPW) Gulf (1.6% of GPW) Southeast (0.3% of GPW) Unaffiliated Managing General Underwriter (Am Risc) Other MGU's, including ICAT and future MGU partners In-force Premium by Region (2) 5% 20% 9% CAGR $1,457 $1,380 $1,252 $1,041 $393 $407 19% $362 ~$1.26B $708 $220 $21 67% $687 $821 $890 $973 $1,064 2019 2020 ■FL Gulf ■SE ■ NE 71% / 29% 73% / 27% 2016 97%/3% 2017 79% / 21% 2018 71% / 29% (1) Includes non-core Renters' policies, which the Company is exiting (2) Data as of 6/30/2021 excluding discontinued territories or where renewal rights have been sold 9#7$84MM Underlying U/W Profit (1) 89.7% Underlying Combined Ratio (1) NonCAT Loss Ratio CAT Loss Ratio Prior Years' Development Ratio 133% Comparison of Personal & Commercial Lines Commercial has consistently outperformed Personal Lines since our 2017 merger with AmCo Commercial Lines Key Metrics (2020) Personal Lines Key Metrics (2020) $1.0B / $564MM GPE/NPE 43.0% Underlying Pre-Tax ROE (1) Combined Ratio Expense Ratio $390MM / $202MM GPE/NPE $29MM Underlying U/W Profit (1) 42.1% 87.1% Underlying Pre-Tax ROE (1) Underlying Combined Ratio (1) Combined Ratio Expense Ratio NonCAT Loss Ratio CAT Loss Ratio Prior Years' Development Ratio 116% 120% 6% 109% 1% 110% 0% 1% 94% 17% 44% 14% 95% 90% 94% 0% 22% 85% 16% 31% 11% 10% CAT 10% 49% 49% 55% 33% CAT 10% 45% 31% 34% 22% NonCAT 45% NonCAT 30% 50% 43% 45% 45% 45% 50% 50% 54% Exp 40% -1% -4% -2% 2017 2018 2019 2020 Target Pricing 2017 2018 2019 2020 Exp 45% Target Pricing Underlying Combined Ratio (1) Underlying Combined Ratio (1) 99% 100% 92% 90% 85% 81% 84% 87% 75% 67% 2017 (1) 2018 2019 2020 Target Pricing 2017 2018 2019 2020 Target Pricing 7 Excludes CAT losses and prior year development#8Q2-2021 Results by Line of Business Our Specialty Commercial Continues to Perform Well Personal Lines (PL) represents our homeowners' business and is performing outside of Florida, but Commercial Lines (CL) is what we seek to grow $ in millions Gross Premiums Earned Ceded Premiums Earned Net Premiums Earned Investment & Other Income Unrealized G(L) on Equities Total Revenue Total Expenses (excluding interest) PL CL Total $ 254.8 $ 101.6 $ 356.4 (59.2) (211.0) (151.8) 103.1 42.4 145.5 6.4 1.1 7.6 2.2 0.2 2.4 111.7 43.7 155.5 Underlying Loss & LAE 62.5 15.7 78.2 Current year CAT Loss & LAE 37.8 2.4 40.3 Prior year development (0.3) (0.1) (0.4) Total Loss 100.0 18.0 118.1 Operating Expense 47.6 20.3 67.9 147.7 38.3 186.0 Core Income (Loss) before tax Core Income (Loss) $ (39.5) $ 5.3 $ (34.2) $ (28.7) $ 4.0 $ (24.6) Direct Loss Ratio - NonCAT 39.3% Direct Loss Ratio - CAT (Current AY) Gross Expense Ratio 29.3% 18.6% 10.9% 25.5% 33.4% 18.7% 20.0% 19.1% Net Loss Ratio 97.0% 42.5% 81.2% Net Expense Ratio Combined Ratio CAT Loss PY Development F/(U) 46.2% 47.8% 46.7% 143.3% 90.4% 127.9% -36.7% 0.3% Underlying Combined Ratio 106.9% -5.8% -27.7% 0.2% 84.8% 100.4% 0.3% 8#9Overview of Challenging Market Conditions Florida is the peak exposure zone in the world for windstorm where we have successfully operated since 1999 Atlantic Hurricanes (1) Atlantic Hurricanes Social Inflation Driving Growth in Industry Suits Served Hurricanes Significantly Impacting the FL Market - Average (7.1) 25,000 During the last four years, two of the top ten costliest hurricanes in US history have made landfall in Florida including Hurricanes Irma 20,000 ($32B(2)/2017) and Michael ($14B(2)/2018) 13 12 15,000 10 10 4 8 7 7 3 10,000 2 2 4 2 5,000 2 8 2 5 3 20,854 0 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017 2018 2019 2020 1Q14 1Q15 1Q16 1Q17 1Q18 1Q19 1Q20 1Q21 Florida Homeowners Direct Incurred Loss Ratios (%) 103 93 93 77 70 Florida Litigation Trends (3) Year % of Nationwide Homeowners' Claims Opened in Florida % of Nationwide Homeonwers' Suits Opened in Florida 70 2016 7.8% 64.4% 38 38 32 34 36 26 39 2017 16.5% 68.1% 20 29 29 24 25 20 2018 11.9% 79.9% 2019 8.2% 76.5% 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017 2018 2019 2020 Source: Insurance Information Institute (1) (2) Only accounts for named storms that reached hurricane status Insured losses adjusted for inflation to reflect 2020 dollars (3) From the Florida Office of Insurance Regulation's analysis of the Florida market, which leverages data from NAIC 6#10Higher Net AOP CAT Pressuring Results Reinsurance programs have responded, but exposure management is the long-term solution Events 1H-2016 1H-2017 1H-2018 16 15 17 1H-2019 24 1H-2020 26 1H-2021 26 Gross CAT Loss $ 32,810 $ 36,696 $ Gross Event Severity $ 2,051 $ 2,446 $ 54,978 $ 3,234 $ 79,039 $ 3,293 $ 97,605 $ 3,754 $ 194,313 7,474 Net CAT Loss $ 18,776 $ 32,410 $ 23,657 $ Net Event Severity $ 1,174 $ 2,161 $ 1,392 $ 27,459 $ 1,144 $ 46,917 $ 64,222 1,805 $ 2,470 Gross CAT Loss Ratio Net CAT Loss Ratio 30.0% 25.0% 20.0% 15.0% 10.0% 5.0% 10.5% 8.7% 8.3% 9.7% 12.3% 12.1% 7.0% 7.4% 14.2% 12.4% 27.2% 22.0% 0.0% 1H-2016 1H-2017 1H-2018 1H-2019 1H-2020 1H-2021 Gross CAT Loss Ratio Net CAT Loss Ratio Winter Storm URI and PCS 2125 were the main drivers of the increase in 2021 Losses ceded to our AOP CAT program have helped manage volatility from non-hurricane CAT events, but exposure reduction is the key to mitigating AOP CAT risk going forward 10#11Material Cost Increases Impacting Losses Supply chain and inflation pressures have contributed to claims severity increases in 2021 Lumber Material Composite ~ Percent Change 200.0% 180.0% 160.0% 140.0% 120.0% 100.0% 80.0% 60.0% 40.0% 20.0% 44.8% 59.2% 58.5% 59.1% 52.6% 52.1% 71.5% 84.0% 158.8% 166.5% 108.1% 135.0% 1.5% 12.1% 0.0% Jul-20 Aug-20 Sep-20 Oct-20 Nov-20 Dec-20 Jan-21 Feb-21 Mar-21 Apr-21 May-21 Jun-21 Jul-21 Aug-21 United States Florida Georgia Louisiana North Carolina South Carolina -Texas Source: Xactimate 11#12Our Response Creates a Foundation for Profitable Growth We are well positioned to take advantage of the hard market in CAT exposed property Robust Rate Increases Litigation Management & Reform A Exposure Management Initiatives Superior Reinsurance The outlook for UPC's earnings is bright and more stable due to its evolving risk portfolio and reduced risk tolerance 12#13Premium vs. Exposure Trending Favorably We expect this gap to continue widening based on rate & exposure management actions TIV (Billions) Pooled Companies (UPC/FSIC/ACIC) Monthly Prem/TIV Change $325 $315 Total Change 23.4% 0.29% $1,250 Premium Goal = $1,200 -0.71% $1,150 1.53% $305 4.30% $1,100 3.35% $295 2.17% 1.60% $285 2.44% $1,050 $1,000 4.12% $275 2.26% $265 $255 TIV Goal = $950 2.07% -1.07% -0.66% $900 0.68% 0.40% 0.40% 2.30% -5.80% $850 3.81% $245 $235 Dec-18 2.68% Total Change 4.6% $750 Mar-19 Jun-19 Sep-19 Dec-19 Mar-20 Jun-20 Sep-20 Dec-20 Mar-21 Jun-21 TIV Prem $800 13 Premium (Millions)#14Renewing Policies Only Personal Lines Renewal Rate Changes Sticking Renewal Retention Rate Holding Strong All Personal Lines Metric Renewing Policies Renewal Acceptance Company Initiated Non-Renewals Renewal Acceptance xNon-Renewals 2020 Q3 2020 Q4 2021 Q1 2021 Q2 114,162 87.2% 94,765 96,261 85.3% 85.0% 4,397 4,711 5,499 90.3% 89.1% 89.4% 117,616 80.5% 16,204 90.6% Rate actions taken and planned for the next 12 months are expected to continue these positive trends and generate improved underwriting results in Personal Lines Renewed TIV Expiring TIV Additional TIV Percent Change Renewed Premium Expiring Premium Additional Premium Percent Change 54,665,320,735 45,289,023,259 46,237,580,569 58,139,263,405 53,347,537,607 1,317,783,128 44,220,235,167 45,141,713,970 56,762,386,238 1,068,788,092 1,095,866,598 1,376,877,167 2.5% 2.4% 2.4% 2.4% 4.1 4 202,368,654 172,838,757 176,691,374 231,499,905 3.9 181,950,753 150,604,356 156,290,267 204,683,180 3.8 3.7 20,417,901 22,234,400 20,401,107 26,816,725 3.6 11.2% 14.8% 13.1% 13.1% 3.5 3.4 Renewal Premium Rate/$1k TIV 3.70 3.82 3.82 3.98 3.3 Expiring Premium Rate/$1k TIV Monthly Rate Change 3.41 3.41 3.46 3.2 3.61 3.1 8.5% 12.1% 10.4% 10.4% Q3-20 Q4-20 Premium Rate/$1k TIV ... Q1-21 Q2-21 Q2 was our best quarter yet and almost reached $4.00 per $1K of TIV ~$9M per month run rate ■Renewal Expiring 14#15Our ESG Approach We believe an effective ESG strategy leads to improved decision making, associate engagement, and results over time UPC's Core Values UPC Insurance has created a culture where people are empowered to address risks as they emerge. Motivated people combined with a strong corporate culture is the Company's greatest competitive advantage and sets the stage for long-term sustainability Persistence Teamwork UPC INSURANCE Keep the Promise Trust Bias to Action Accountability Integrity ESG Strategy & Commitments Environmental UPC is committed to incorporate and embed sustainability issues deeper into the Company's culture, strategic planning process and execution of its operational plans. This begins with addressing climate change by achieving net-zero carbon emissions for the Company's operations and through its value chain by no later than 2030 Social Responsibility UPC supports communities through various initiatives intended to give back and promote goodwill. UPC has provided support to numerous non-for-profit organizations over the past several years that champion noble causes including youth education, work force development, medical care/research, domestic violence shelters / prevention, child-care services, and many others Governance UPC is committed to increase the representation of women, people of color, and other underrepresented groups on its Board and Management Team. UPC's goal is to add at least two new Directors to its Board over the next couple of election cycles to improve overall diversity at the highest level of corporate governance UPC will increase its capital allocated toward ESG focused investment vehicles and opportunities from 0% up to 10% of total stockholders' equity attributable to UIHC stockholders. This is one of the most powerful ways an insurance company like UPC can drive progress by doing its part to ensure capital is more available and cost effective to those who practice sustainability 15#16Cautionary Statements UPC INSURANCE® This presentation contains "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995. These forward looking statements include expectations regarding our diversification, growth opportunities, retention rates, liquidity, investment returns and our ability to meet our investment objectives and to manage and mitigate market risk with respect to our investments. These statements are based on current expectations, estimates and projections about the industry and market in which we operate, and management's beliefs and assumptions. Without limiting the generality of the foregoing, words such as "may," "will," "expect," "endeavor," "project," "believe," "anticipate," "intend," "could," "would," "estimate," or "continue" or the negative variations thereof, or comparable terminology, are intended to identify forward-looking statements. Forward-looking statements are not guarantees of future performance and involve certain known and unknown risks and uncertainties that could cause actual results to differ materially from those expressed or implied by such statements. The risks and uncertainties include, without limitation: the regulatory, economic and weather conditions in the states in which we operate; the impact of new federal or state regulations that affect the property and casualty insurance market; the cost, variability and availability of reinsurance; assessments charged by various governmental agencies; pricing competition and other initiatives by competitors; our ability to attract and retain the services of senior management; the outcome of litigation pending against us, including the terms of any settlements; dependence on investment income and the composition of our investment portfolio and related market risks; our exposure to catastrophic events and severe weather conditions; downgrades in our financial strength ratings; risks and uncertainties relating to our acquisitions including our ability to successfully integrate the acquired companies; and other risks and uncertainties described in the section entitled "Risk Factors" and elsewhere in our filings with the Securities and Exchange Commission (the "SEC"), including our Annual Report in Form 10-K for the year ended December 31, 2019 and 2020 and our Form 10-Q for the periods ending March 31, 2021 and June 30, 2021, once available. We caution you not to place undue reliance on these forward looking statements, which are valid only as of the date they were made. Except as may be required by applicable law, we undertake no obligation to update or revise any forward-looking statements to reflect new information, the occurrence of unanticipated events, or otherwise. This presentation contains certain non-GAAP financial measures. See our earnings release, Form 10-K, and Form 10-Q for further information regarding these non-GAAP financial measures. The information in this presentation is confidential. Any photocopying, disclosure, reproduction or alteration of the contents of this presentation and any forwarding of a copy of this presentation or any portion of this presentation to any person is prohibited. 16#17UPC INSURANCE®