UPC Insurance Company Overview and ESG Strategy

Q2-2021 Executive Summary We made progress on several initiatives this quarter to reduce volatility and improve results over time Reinsurance 1 Renewal Successful 2 Underwriting Improvements 3 Focus on Technology 4 Exposure Management Working Lowered retention and added aggregate stop-loss feature for named windstorm Maintained cascading aggregate structure providing superior 1st event protection Modest single digit risk-adjusted cost increase captured in rate indications Adjusting replacement cost estimates to ensure proper insurance-to-value Florida rate increase of 14.7% effective 7/1 for new and renewal business Anticipate average rate increase near 20% for Q3 due to overlapping changes Created new COO role to lead insurance operations filled by our CIO, Chris Griffith Skyway Technologies direct-to-consumer platform nearing launch Legacy policy system conversions to new Agent Connect platform going well Since 12/31/20, pooled group premium in-force is up +5%, but TIV is down -6% Portfolio optimization improving model expected loss estimates (PML and AAL) Targeting risks in the bottom quartile of our underwriting profitability framework

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