Lemonade Investor Day Presentation Deck

$347m 103% Q3 21 Built for Scale Since Q3 21, Adjusted Expense Ratio Dropped 24% As IFP Grew 76% $380m 95% Q4 21 $419m 96% Q1 22 Adjusted Expense Ratio is calculated as Gross Earned Premium divided by all operational expenses excluding Loss and loss adjustment expense $458m 81% Q2 22 $609m 80% Q3 22

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