Investor Presentaiton

Reserves ($ Millions) 100 80 60 40 20 Indemnity Case Reserve Changes 76 78 72 72 67 67 66 63 64 62 -20 -14 -14 -12 -18 -21 -24 -22 -40 -30 -33 -33 -60 2011 2012 2013 2014 2015 2016 2017 2018 Calendar Year 2019 2020 ■Latest AY ■Prior AYS Net Reserve Impact Case reserves based on MWCIA Financial data MWCIA years Comments ▪ The reserves posted for the latest accident year are the lowest in the last five years. ■ Takedowns of reserves on prior accident years were the largest in the last five years. ■ The net indemnity reserve activity in 2020 is similar to what was seen in 2014. 20 20

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