March 2022 Investor Presentation

UNDERWRITING PERFORMANCE (CONTINUED) Heritage's underwriting operation has generally produced solid combined ratios. SOLID UNDERWRITING MARGINS 120% 100% 107.0% 104.6% 94.1% 96.5% 92.8% 90.4% 38.5% 34.7% 80% 72.9% 71.4% 39.4% 34.8% 41.0% 38.1% 65.0% 60% 32.4% 31.3% 27.5% 40% 68.5% 69.9% 58.0% 57.1% 53.1% 52.3% 20% 40.5% 40.1% 37.5% 0% 2013 2014 Citizens takeouts benefit HRTG's margins March 2022 Investor Presentation 2015 2016 Tornadoes, 2017 Hurricane Hurricanes Irma & AoB Hermine & Matthew, AOB ■Loss ratio (left axis) 18 2018 Hurricanes Lane, Florence & Michael, AoB 2019 Southeast hail and wind storms, Hurricane Dorian Expense ratio (left axis) 2020 Hurricanes Isaias, Sally and Eta, Southeast hail, tornado and wind storms 2021 Convective storms and hurricanes Elsa, Fred, Henri and Ida. H

View entire presentation