Investor Presentaiton

SKYWARD SPECIALTY AT A GLANCE Business Overview • A private, US-based specialty property and casualty insurer that writes on both an admitted and non-admitted basis . . Strategy focuses on building defensible positions in high profit niche segments to deliver consistent top quartile returns Top talent that drives disciplined and insightful underwriting, claims excellence, and efficient capital management is at the core of our strategy execution Operate in all 50 states and select international markets . Rated A- by AM Best • 395 employees as of December 31, 2021 across 12 offices Select Financial Metrics FY FY (US$ millions) 2021(1) 2020(1) Select Income Statement Metrics(3) Gross written premium Net written premium Pre-tax income Net income Combined ratio $940 $874 529 462 63 21 50 17 94.6% 96.8% Select Balance Sheet Metrics (4) Cash and invested assets Total assets $1,057 $879 2,118 1,949 Total liabilities 1,692 1,555 Adjusted stockholders' equity(2) 435 404 For more information about Skyward Specialty including its 'Rule your Niche' strategy described by Andrew Robinson, CEO of Skyward Specialty, visit westaim.com/investments/skyward- specialty-insurance-group/ and follow on LinkedIn at www.linkedin.com/company/skywardspecialty/. (1) (2) (3) (4) Does not include charges related to the Loss Portfolio Transfer ("LPT") transaction completed in Q1 2020, development subject to the LPT or other unusual items. Adjusted to conform to the presentation of the current year. Refer to Westaim's MD&A at December 31, 2021 and December 31, 2020 for further details. The adjusted stockholders' equity of Skyward Specialty reflects the Skyward Specialty stockholders' equity prepared in accordance with US GAAP adjusted for a reclassification of stock notes receivable. Refer to Westaim's MD&A at December 31, 2021 and December 31, 2020 for further details. FY2020 adjusted to conform to the presentation of the current period financial statements including restatement of comprehensive loss of $32.5 million and $67.4 million for the three months and year ended December 31, 2020, respectively, compared to the previously reported comprehensive loss of $30.4 million and $64.7 million for the three months and year ended December 31, 2020, respectively. For further details refer to the Skyward Specialty's consolidated financial statements with independent auditor's report as of and for the years ended December 31, 2021 and 2020 filed on SEDAR by the The Westaim Corporation. Adjusted to conform to the presentation of the current period and restatement of previously reported figures resulting in a decrease in total assets of $4.6 million, a decrease in total liabilities of $3.4 million and a decrease in total stockholders' equity of $1.2 million. For further details refer to the Skyward Specialty's consolidated financial statements with independent auditor's report as of and for the years ended December 31, 2021 and 2020 filed on SEDAR by the The Westaim Corporation. 14

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