Homeowners Insurance Market Opportunity

Valuation Benchmarking AV/Gross Written Premium (2023E) 7.8x Lemonade' AV/Adj. Gross Profit (2023E) 41.8x Lemonade 1. AV pro forma for follow on offering 2. Reflects Total Written Premium multiple 4.4x 2.5x 1.0x Hippo metromile Root Insurance Co 25.1x Hippo 3. Reflects Gross Earned Premium multiple 9.1x 8.0x metromile Root Insurance Co Proprietary and Confidential | 43 Source: Company estimates, subject to change; street estimates; based on latest disclosed financials and available estimates; market data as of 3/3/2021

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