Enact IPO Presentation Deck

Enact | Investor Presentation Comprehensive Risk Management Philosophy Approach to Housing Risk Management Manage Three-Pronged Acquire • Thorough underwriting and automated eligibility controls on incoming loans • Advanced analytics differentiates risk within granular proprietary pricing model • Adequately priced risk to achieve targeted returns 12 Optimize value creation within risk appetite • Multi-year planning identifies risks to strategic plan • Comprehensive stress testing informs risk appetite, credit policy, and CRT strategy . Continuous portfolio monitoring and auditing of underwriting processes and controls Identify, assess, and mitigate risks to plan Distribute . Traditional reinsurance with highly rated counterparties reduces warehousing risk . Collateralized MILN transactions on closed blocks at attractive cost of capital • Optimize cost of capital, counterparty diversification and forward capacity across CRT channels Manage volatility and protect balance sheet Enact

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