Homeowners Insurance Market Opportunity

Adjusted Gross Profit - Non-GAAP Reconciliation $ in Millions Revenue Loss and Loss Adjustment Expense Insurance Related Expense GAAP Gross Profit Adjustments: Less: Net Investment Income Add: Channel Distribution Costs Add: Employee Related costs Add: Depreciation, Amortization and Other Non-Cash Expenses Adjusted Gross Profit 1. Preliminary actual results, subject to change 2. This does not include $4.9 million of Spinnaker deferred ceding commission income as it was part of opening balance sheet adjustments as required under US GAAP FY2020A1 (Unaudited) 51.5 (25.3) (19.3) 7.0 (1.1) 4.6 0.9 4.1 15.52 Proprietary and Confidential | 46

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