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June 12, 2025 abacusgm.com Investor Day & Longevity Summit
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Disclaimer General. This presentation (this “Presentation”) is provided solely for informational purposes. This Presentation is subject to update, completion, revision, verification and further amendment without notice. None of Abacus Global Management, Inc. (the “Company”, "Abacus", Abacus Global Management", "we", "our", or "us") or its affiliates has authorized anyone to provide interested parties with additional or different information. The information contained herein does not purport to be all inclusive or contain all of the information that may be required to make a full analysis of the Company. Viewers of this Presentation should each make their own evaluation of the Company and of the relevance and adequacy of the information and should make such other investigations as they deem necessary. Nothing herein shall be deemed to constitute investment, legal, tax, financial, accounting or other advice, and you should consult with your own attorney, business advisor and tax advisor as to legal, business, tax and other matters related hereto. No representations or warranties, express or implied, are given in, or in respect of, this Presentation. To the fullest extent permitted by law, in no circumstances will the Company or any of its respective subsidiaries, stockholders, affiliates, representatives, partners, directors, officers, employees, advisers or agents (collectively, the “Representatives”) be responsible or liable for any direct, indirect or consequential loss or loss of profit arising from use of this Presentation, its contents, its omissions, reliance on the information contained within it, or on opinions communicated in relation thereto or otherwise arising in connection therewith. Forward-Looking Information. This Presentation contains forward-looking statements within the meanings of Section 27A of the Securities Act of 1933, as amended, Section 21E of the Securities Exchange Act of 1934, and the Private Securities Ligation Reform Act of 1995, as amended. All statements contained in this Presentation that do not relate to matters of historical fact should be considered forward-looking statements, including statements relating to predictions, projections and other statements about future events that are based on current expectations and assumptions and, as a result, are inherently subject to risks and uncertainties. In some cases, you can identify forward-looking statements by terms such as "may," "will," "should," "expect," "plan," "anticipate," "could," "intend," "target," "project," "contemplate," "believe," "estimate," "predict," "potential", or "continue" or the negative of these terms or other similar expressions are intended to identify forward-looking statements, although not all forward-looking statements are identified by these terms or expressions. In addition, statements that "we believe" and similar statements reflect management's beliefs and opinions on the relevant subject. These statements are based upon information available to management as of the date of this presentation, and while management believes such information forms a reasonable basis for such statements, such information may be limited or incomplete, and such statements should not be read to indicate that management has conducted an exhaustive inquiry into, or review of, all potentially available relevant information. These statements are inherently uncertain and investors are cautioned not to unduly rely upon these statements. Management has based these forward-looking statements largely on their current expectations and projections about future events and financial trends that management believes may affect the Company's business, financial condition and results of operations. The Company may not actually achieve the plans, intentions or expectations disclosed in these forward-looking statements. In light of these assumptions, risks and uncertainties, the results and events discussed in the forward- looking statements contained in this Presentation by reference might not occur. You should review this Presentation completely and with the understanding that the Company's actual future results may be materially different from what management expects and you should not place undue reliance on the forward-looking statements, which speak only as of the date of this Presentation. Except as required by applicable law, the Company does not plan to publicly update or revise any forward-looking statements contained herein, whether as a result of any new information, future events, changed circumstances or otherwise. Financial Information. Some of the financial information and data contained in this Presentation are unaudited and do not conform to Regulation S-X. Such information and data may not be included in, may be adjusted in or may be presented differently in the annual report on Form 10-K and quarterly reports on Form 10-Q, filed by the Company. Except as otherwise noted, all references herein to full-year periods refer to the Abacus Companies’ fiscal year, which ends on December 31. You should review the Company’s audited financial statements, which are filed with the SEC. This Presentation includes certain financial measures not presented in accordance with generally accepted accounting principles in the United States ("GAAP"), which are used by management as a supplemental measure, have certain limitations, and should not be construed as alternatives to financial measures determined in accordance with GAAP. The non-GAAP measures as defined by us may not be comparable to similar non-GAAP financial measures presented by other companies. Our presentation of such measures, which may include adjustments to exclude unusual or non-recurring items, should not be construed as an inference that our future results will be unaffected by other unusual or non-recurring items. Reconciliations to the most directly comparable GAAP measures are provided in this Presentation in the Appendix. Industry And Market Data. Market data and industry information presented throughout this Presentation are based on management's knowledge of the industry and the good faith estimates of management. Management also relied, to the extent available, upon management's review of independent industry surveys and publications and other publicly available information prepared by a number of third-party sources. All of the market data and industry information used in this Presentation involves a number of assumptions and limitations, and you are cautioned not to give undue weight to such estimates. Although we believe that these sources are reliable, we cannot guarantee the accuracy or completeness of this information, and we have not independently verified this information. While we believe the estimated market position, market opportunity and market size information included in this Presentation are generally reliable, such information, which is derived in part from management's estimates and beliefs, is inherently uncertain and imprecise. No representations or warranties are made by the Company or any of its affiliates as to the accuracy of any such statements or projections. Projections, assumptions and estimates of our future performance and the future performance of the industry in which we operate are necessarily subject to a high degree of uncertainty and risk due to a variety of factors, including those described above. These and other factors could cause results to differ materially from those expressed in our estimates and beliefs and in the estimates prepared by independent parties. 02
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ABL Overview & Outlook 03 Presenter: Jay Jackson – Chairman & CEO
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Where Technology, Longevity, and Asset Management Converge Our mission at Abacus is to revolutionize financial services through expert asset management and data-driven lifespan insights, leveraging advanced technology to deliver personalized solutions that optimize financial well-being across every stage of life. 04
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Strategic Vision “Abacus envisions a future where financial decisions are transformed by the powerful intersection of technology, longevity data, and expert asset management. Through our four integrated verticals—Life Solutions, Asset Management, Private Wealth Management, and Health and Longevity Technology—we strive to be the premier financial partner that helps institutional investors, financial advisors, and clients harness untapped value in lifespan metrics, creating investment strategies that stand the test of time.” Jay Jackson Chairman and Chief Executive Officer Abacus Global Management, Inc. Abacus Global Management, Inc. 05
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The Abacus Advantage: Four Verticals, One Vision 06 Abacus Life Solutions The Foundation Transforming life insurance into a high-performing asset class ABL Tech The Competitive Moat Innovating through cutting-edge technology and data-driven solutions Abacus Asset Group The Growth Engine Delivering superior risk-adjusted returns through tailored investment strategies Abacus Wealth Advisors The Distribution Channel Redefining wealth management through data-driven personalization
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Asset origination Abacus Wealth Advisors Abacus Life Solutions Product distribution Longevity data and technology Asset sourcing Customer & lead engine Abacus Asset Group ABL Tech Abacus Wealth Advisors: Personalized Financial Planning Based on Longevity The build out of Abacus Wealth Advisors capitalizes on synergies across our business verticals 07
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08 Presenter: Bill McCauley – Chief Financial Officer ABL Financial Overview
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Q1 2025 vs. Q1 2024 Performance Revenue % Increase Adj. EBITDA % Increase 111%105% Accelerated revenue and profitability growth while executing on strategic initiatives, resulting in strong performance for the quarter Total Revenue, Adjusted EBITDA, and Adjusted Net Income all more than doubled year-over-year GAAP Net Income attributable to shareholders was $4.6 million, compared to a net loss of $1.3 million in the prior-year period Newly launched income fund vintages attracted $122.8 million in inflows in just the first month of being active Privately exchanged 4,930,745 of the public warrants for an aggregate of 1,134,071 shares of newly issued common stock Adj. Net Income % Increase 158% Q1 2025 Financials Overview Gross Revenue $44.1 million Adjusted Net Income $17.3 million Adjusted EBITDA $24.5 million Capital Deployed for Policy Purchases $125.9 million Assets Under Management1 $3.1 billion Key Quarterly Achievements 09 1 Estimated gross AUM of Carlisle Management Company, Abacus FCF Advisors, LMA Funds, Abacus Income Funds, and the Balance sheet as of March 31, 2025 1 2 3 4 5 Q1 2025 Financial Performance Highlights
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Growth – Q1 2025 YoY Revenue Growth YoY Growth in Capital Deployed Total Inflows1 1Total Inflows calculated between Carlisle Management Company, Abacus FCF Advisors, LMA Funds and Abacus Income Funds Profitability – Q1 2025 Adjusted Annualized ROE Adjusted Annualized ROIC Adjusted EBITDA Margin 10 131%105% $151M 17%16% 56% Abacus is strategically enhancing shareholder value through a multifaceted approach that includes robust financial performance, technological innovation, and strategic acquisitions Maximizing Shareholder Value
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Confirming FY 2025 Guidance FY2025 Financial Outlook 11 Metric FY 2024 Actual FY 2025 Guidance YoY Change (%) Adjusted Net Income $46.5 million $70 million - $78 million +51% to +68% Key Assumptions and Commentary We believe we are well-positioned for a strong 2025 to firmly solidify Abacus as a leading global alternative asset manager Growth driven by our origination platform and expanded business verticals FY 2025 average consensus on adjusted net income – $72.9 million FY 2025 guidance range on adjusted net income – $70-78 million Annual Guidance | Investor Presentation | May 8th, 2025
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$7.6 $6.8 $9.2 $5.9 $6.7 $11.8 $14.9 $13.4 $17.3 Q1 2023 Q2 2023 Q3 2023 Q4 2023 Q1 2024 Q2 2024 Q3 2024 Q4 2024 Q1 2025 $10.2 $11.4 $21.1 $23.6 $21.5 $29.1 $28.1 $33.2 $44.1 Q1 2023 Q2 2023 Q3 2023 Q4 2023 Q1 2024 Q2 2024 Q3 2024 Q4 2024 Q1 2025 $8.4 $9.1 $10.8 $11.1 $11.6 $16.7 $16.7 $16.6 $24.5 Q1 2023 Q2 2023 Q3 2023 Q4 2023 Q1 2024 Q2 2024 Q3 2024 Q4 2024 Q1 2025 12 Revenue 1 Adjusted EBITDA and Adjusted Net Income are non-GAAP measures. For a reconciliation to the most directly comparable GAAP measure, see the Financial Information section ($ in millions) Consolidated Proforma Historical Financial KPIs (Q1 2023 – Q1 2025) Adjusted Net Income1 ($ in millions)($ in millions) Adjusted EBITDA1 ($ in millions)
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Additional KPIs (Q1 2023 – Q1 2025) 13 1 Fee Paying AUM consists of Carlisle Management Company, Abacus FCF Advisors, LMA Funds, and Abacus Income Funds Q4 2024 Q1 2025 Balance Sheet Longevity Funds ETFs $778.6M $1.9B $241.2M $758.5M $2.0B $327.9M $2.9B $3.1B Gross Assets Under Management Fee Paying Assets Under Management1 Capital Deployed for Policy Originations – Abacus Life Solutions Number of Lives Tracked – ABL Tech $34.4 $59.8 $56.4 $68.3 $54.6 $104.7 $93.2 $126.5 $125.9 Q1 2023 Q2 2023 Q3 2023 Q4 2023 Q1 2024 Q2 2024 Q3 2024 Q4 2024 Q1 2025 Q4 2024 Q1 2025 Longevity Funds ETFs $2.72B $2.78B 26,000 56,000 127,851 678,000 Q1 2024 Q2 2024 Q3 2024 Q4 2024 Q1 2025 In Trial 1,598,536 ($ in millions) 772,480 826,056
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14 Presenter: Elena Plesco – Chief Capital Officer Strategy Overview
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15 The Abacus Advantage: Four Verticals, One Vision Abacus Life Solutions The Foundation Transforming life insurance into a high-performing asset class ABL Tech The Competitive Moat Innovating through cutting-edge technology and data-driven solutions Abacus Asset Group The Growth Engine Delivering superior risk-adjusted returns through tailored investment strategies Abacus Wealth Advisors The Distribution Channel Redefining wealth management through data-driven personalization
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16 BUILDING AND OWNING ASSET ORIGINATION IS THE KEY DRIVER OF OUR BUSINESS At Abacus We Control Our Destiny
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We Control the Entire Asset Value Chain Vertical integration drives superior outcomes 17 Spreads at origination Management fees Servicing fees Performance incentive fees
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18 Third-party clients: investment funds, pensions funds, state governments Abacus Asset Group Competitive Moat Unparalleled Data Advantage
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Asset origination Abacus Wealth Advisors Abacus Life Solutions Product distribution Longevity data and technology Asset sourcing Customer & lead engine Abacus Asset Group ABL Tech Abacus Wealth Advisors: Personalized Financial Planning Based on Longevity The build out of Abacus Wealth Advisors capitalizes on synergies across our business verticals 19
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Pricing Returns Capital Revenue Data Growth Strategy 20 Full-year 2025 Adjusted Net Income Guidance: $70-78 million Future Goal: $10bn AUM
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Diversified Revenue Model We are targeting over 70% of revenue to be recurring in the near-term 21 Divisions Current % of Revenue (Q1 2025) Recurring Revenue Divisions Life Solutions Asset Group Wealth Advisors Technology 80% 19% - 1% Target % of Revenue 30% 30% 30% 10%
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Value of Integrated Approach: Recurring revenue with significant growth potential 22 Diversified revenue model Seeks to mitigate downside risk from uncorrelated assets Unparalleled data advantage Robust origination engine 1 2 3 4
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23 WE ARE NOT BUILDING ANOTHER ASSET MANAGER We Are Creating a New Category
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24 Presenter: Samantha Butcher – President, Abacus Life Solutions Life Solutions Overview
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25 Policy Origination & Sourcing Strategic identification and acquisition of life insurance policies through comprehensive market analysis and partnership networks. Market Research & Analysis Policy Identification Due Diligence Process Strategic Partnerships Policy Servicing Complete life cycle management and administration of life insurance policies with expert oversight and optimization. Portfolio Management Premium Administration Performance Monitoring Compliance Oversight Comprehensive Longevity-Based Asset Services Abacus Life Solutions:
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The Origination Engine of Investable Life Insurance Assets Abacus is an originator, market maker, and asset manager within the market for life insurance 26 Abacus Longevity Funds *$123mm of Dry Powder as of Q1 End 20+ Third Party Asset Managers, Insurance Carriers and other Institutions Whole-Asset Buyers Securitization/ Structured Note Buyers
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27 $223B1 Secondary Market Opportunity Aging demographics and liquidity demand are tailwinds driving sustainable growth and expanded origination opportunities. Driving Our Life Solutions Platform Policy Sourcing & Origination: 1Average gross market potential for life settlements (2023 Conning Report) Cases Reviewed in 2024 5,982 ~+20% from 2023 Traditional life settlement sourcing 30,000+ Abacus Advisor Network Complementary policy acquisition Comprehensive Sourcing Channels
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28 $29.4B1 Tertiary Market Opportunity Legacy Universal Life blocks Mortality risk reduction for carriers Fixed claims cost solutions Large-face-value policy focus Immediate policy access advantages: Institutional Policy Sales Strategic Balance Sheet Growth $3B Aging demographics and liquidity demand are tailwinds driving sustainable growth and expanded origination opportunities. Driving Our Life Solutions Platform Policy Sourcing & Origination: 1Available In-Force Coverage (2023 Conning Report) Repurchase transaction supported: Direct asset manager partnerships Enhanced liquidity creation Accelerated capital deployment Portfolio diversification
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29 108 136 181 208 267 275 278 Q1 2023 Q2 2023 Q3 2023 Q4 2023 Q1 2024 Q2 2024 Q3 2024 Q4 2024 Number of Policies Originated 326 In 2024, we acquired 1,064 total policies compared to 633 policies in 2023. Capital Deployed for Policy Originations – Abacus Life Solutions $34.4 $59.8 $56.4 $68.3 $54.6 $104.7 $93.2 $126.5 $125.9 Q1 2023 Q2 2023 Q3 2023 Q4 2023 Q1 2024 Q2 2024 Q3 2024 Q4 2024 Q1 2025 ($ in millions) In 2024, we deployed $379m of capital compared to $218.9m in 2023. The Execution through Capital Deployed and Policies Originated Record capital deployment and policy origination driving sustainable growth
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Policy Servicing: Ensuring Integrity and Timeliness Best-in-class capabilities for ourselves and our investors with full “trade-ready” asset control 30 Multi-fund Servicing: 14 Different Funds Customizable service levels for each fund’s unique requirements Policies Serviced 2,594 Active Portfolio Management 2,721 Insureds Comprehensive Tracking $5.7B Face Amount Total Coverage Managed Real-Time Reporting: Live Data + Monthly Reports Insured and policy status updates with comprehensive reporting ABL Tech Verification: Mortality Verification Proprietary technology vertical for enhanced accuracy Dedicated Valuation Team: Ongoing Accuracy Compliance-focused team ensuring precision and regulatory adherence
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31 Presenter: Jose Garcia – CEO, Carlisle Management Company Abacus Asset Group: Longevity Funds Overview
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Abacus Global Management Footprint 32 Global presence Locally regulated in each market 2 offices 4 representations 26 local distribution relationships 33 countries of domicile of our limited partners Our global network powers tomorrow’s growth Our Offices and Representations
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33 Global presence Locally regulated in each market 2 offices 4 representations 26 local distribution relationships 33 countries of domicile of our limited partners Abacus Global Management Footprint Our global network powers tomorrow’s growth Our Offices and Representations Our Distributers
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34 Global presence Locally regulated in each market 2 offices 4 representations 26 local distribution relationships 33 countries of domicile of our limited partners Abacus Global Management Footprint Our global network powers tomorrow’s growth Our Offices and Representations Our Distributers Our Clients
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Relative to Standard Mortality Tracking 35 PRI Certified since January 2019 $2 billion in AUM Comply the requirements EU’s Authorized Investment Fund Manager Directive (AIFMD) and Securities and Exchange Commission's regulations in the US Driven by a culture of transparency, humility, alignment & excellence Dedicated investment team 100% focused on secondary life insurance Largest vertically integrated longevity asset manager globally Of combined hands-on experience in secondary life insurance Investment and fundraising staff with a global presence + years Abacus Asset Group: Longevity Funds
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36 Abacus Asset Group: Longevity Funds Proven longevity leaders with long-standing track record across investment strategies and economic cycles 20-years of combined track record Over $10 billion in face value of policies transacted Over $6 billion in face value realized through maturities or sales Composite gross asset IRRs since inception exceeds high-teens $2 billion of fee-paying AUM across 13 funds Over $125mm in acquisition capacity as of Q1 2025 On-shore income funds - 3-to-10-year structures with targeted quarterly distributions Off-shore total return funds - 10-year structures returning capital as maturities occur
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37 What Sets Us Apart: Vertical Integration Best-in-Class Sourcing, Underwriting, Stress-Testing and Servicing Capabilities – allowing for differentiated risk-mitigation and superior outcomes for our investors Sourcing: Access to Life Solutions direct-to-consumer origination ecosystem with over 12,000 consumer leads per month Access to provider sourcing and licenses nationwide Servicing: In-house servicing team of 20+ people led by insurance industry veteran with over 15 years of experience in the asset class Proprietary ABL Tech mortality tracking solution MVerify Portfolio Management: Purpose built portfolio management and IT systems Ability to analyze large scale data quickly and efficiently Integrated underwriting and stress-testing through ABL Tech Global Distribution Network: Access to global fundraising and distribution network covering all 5 continents International regulatory framework with local regulatory partners
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38 Carlisle Management Company classifies as an alternative investment fund manager (AIFM) under the AIFM Law. It is supervised by the Luxembourg financial regulator. Pursuant to AIFM Law, Carlisle Management Company is authorised to market Alternative Funds it manages only to professional investors that are domiciled or have a registered office in any territory of the European Economic Area (EEA) other than Luxembourg. This presentation is intended to be for information purposes only and it is not intended as promotional material in any respect. Reliance should not be placed on the views and information in these presentations when making individual investment and/or strategic decisions. A fund’s investment objectives, risks, charges and expenses should be considered carefully before investing. This document contains information in summary form only and its accuracy or completeness cannot be guaranteed. No liability is accepted for any loss of whatsoever nature arising from the use of this information. Application for units in this fund may only be made on the basis of a prospectus relating to the fund and this document may only be distributed to those eligible to receive that prospectus. The distribution of this document may be restricted in certain jurisdictions and it is the responsibility of any person or persons in possession of this document to inform themselves of, and to observe, all applicable laws and regulations of any relevant jurisdictions. The prospectus contains this and other important information about the Funds. To obtain a prospectus free of charge, call Carlisle Management Company’s registered office in Luxembourg, or contact us by sending an email to info@cmclux.com or by visiting our Web site. Please read the prospectus carefully before investing or sending money. An investment in the Fund is speculative and involves a high degree of risk. Further, investors will have limited withdrawal and transfer rights, and no secondary market for the interests exists. All of the risks, including life expectancy extension, credit risk, as well as other important risks and information are described in detail in the Offering Document. Prospective investors are strongly urged to review the Offering Document carefully and consult with their own financial, legal and tax advisors before investing with the Fund. Objectives may vary depending on market conditions. Carlisle Management Company does not provide legal or tax advice The statements contained herein are based on our current views and involve known / unknown risks and uncertainties that could cause actual results, performance or events to differ materially from those expressed or implied in such statements. The content of this presentation is intended solely for the use of the addressee. Except as otherwise authorised, this information may not be shown, copied, transmitted, or otherwise given to any third party without Carlisle’s prior written consent. If you are not the addressee or the person responsible for delivering it to the addressee, any disclosure, copying, distribution or any action taken or omitted to be taken in reliance on it is prohibited and may be unlawful. The data used in this presentation is obtained by Carlisle Management Company from the sources which it considers reliable. While utmost care has been exercised while preparing this presentation, Carlisle Management Company does not warrant the completeness or accuracy of the information and disclaims all liabilities, losses and damages arising out of the use of this information. Neither Carlisle Management Company nor any person connected with it accepts any liability arising from the use of this information. The recipient(s) before acting on any information herein should make his/their own investigation and seek appropriate professional advice before making any investment decision or entering into any financial obligation based on information, statement or opinion which is expressed herein. The Fund has appointed Reyl & Cie Ltd, 62 rue du Rhône, 1204 Geneva, Switzerland, as its Swiss Representative AND Swiss Paying Agent. (Tel.: +41 22 816 80 00, email: FrsReporting@reyl.com). In Switzerland shares shall be distributed exclusively to qualified investors. The fund offering documents, articles of management regulations and audited financial statements can be obtained free of charge from the Representative. In respect of shares distributed in Switzerland the place of performance and jurisdiction is the registered office of the Representative. © 2020 Carlisle Management Company. All rights reserved. Issued by Carlisle Management Company. Additional information on our investment strategies can be provided on request. INSTITUTIONAL INVESTOR USE ONLY CAR 102 Exp. 03-31-2020 Abacus Global Management is a trade name of Carlisle Management Company SCA, with registered office at 9, Rue Sainte Zithe L - 2763 Luxembourg, RCS Luxembourg B144257 and other mandatory information that Carlisle may include in commercial communications. Important Disclosures
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39 This material has been prepared by Carlisle Management Company (B 144257) (‘CMC’, ‘us’ or ‘we’). Carlisle Management Company is a corporate authorised representative (CAR No. 1278904) of Sandford Capital Pty Limited (ABN 82 600 590 887) (AFSL461981) (Sandford Capital). The material is for general information only and is not an offer for the purchase or sale of any financial product or service. The material has been prepared for investors who qualify as wholesale clients under sections 761G of the Corporations Act or to any other person who is not required to be given a regulated disclosure document under the Corporations Act. The material is not intended to provide you with financial or tax advice and does not take into account your objectives, financial situation or needs. Although we believe that the material is correct, no warranty of accuracy, reliability or completeness is given, except for liability under statute which cannot be excluded. Please note that past performance may not be indicative of future performance and that no guarantee of performance, the return of capital or a particular rate of return is given by Sandford Capital, CMC or any other person. To the maximum extent possible, Sandford Capital, CMC or any other person do not accept any liability for any statement in this material © 2020 Carlisle Management Company. All rights reserved. Issued by Carlisle Management Company. Additional information on our investment strategies can be provided on request. INSTITUTIONAL INVESTOR USE ONLY CAR 102 Exp. 03-31-2020 Abacus Global Management is a trade name of Carlisle Management Company SCA, with registered office at 9, Rue Sainte Zithe L - 2763 Luxembourg, RCS Luxembourg B144257 and other mandatory information that Carlisle may include in commercial communications. Important Disclosures
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40 Presenter: Vince Chen – VP of Public Equity & Portfolio Management, Abacus FCF Advisors Abacus Asset Group: Abacus FCF Advisors Overview
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41 Engine Data & Research Infrastructure Proprietary platform transforming decades of data research into systematic alpha generation Expansion Future Product Innovation Life-cycle investment solutions leveraging proprietary Abacus data to address evolving market inefficiencies Growth Track Record & Opportunity Proven track record positioning us to capture significant share of the $11T active ETF market expansion Solution FCF Leaders ETFs High-conviction quality investing delivering targeted solutions across market caps, themes, and objectives A Systematic Approach to Growth Our Competitive Machine: From Research to Results
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Quantitative Data & Proprietary FCF Analytics 30 Years+ 42 11,000+ Global Equities & ETFs Covered 50+ In-House FCF Leaders Investment Model Series Proprietary Analysis Amplifies FCF-ROIC Alpha Generation Lower Better Higher Better 14.30% 17.48% 11.49% 11.50%12.54% 10.86% 15.56% 14.45% 0% 4% 8% 12% 16% 20% Capital Expenditure Accruals Cash Flow Margin Asset Turnover FCF-ROIC Delivered 3x Market Returns Over 30 Years 202,742 615,609 $10,000 $110,000 $210,000 $310,000 $410,000 $510,000 $610,000 $710,000 Top 500 US Stocks Top 10% FCF-ROIC FCF Leaders Approach is Backed by Decades of Empirical Research Source: Abacus FCF Advisors, FactSet Back tested Performance data from 08/31/1995 to 12/31/2024. Abacus FCF Leaders Model is a proprietary quantitative strategy. Portfolios (e.g., top 500 US stocks, top 25% FCF-ROIC) are market cap-weighted and quarterly rebalanced. These are hypothetical and do not represent actual fund performance. FCF-ROIC = free cash flow / invested capital (LTM). For financials/real estate, net income/FFO replaces FCF. Past performance does not guarantee future returns. Powered By Research Excellence Free Cash Flow Leaders Driving Systematic Alpha
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43 At Abacus We Control Our Destiny WHAT BUFFETT DOES MANUALLY, WE DO SYSTEMATICALLY Invest in the most profitable long-term winners
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Featured FCF Leaders ETFs Asset Under Management Institutional Holders 70+$786 Unique FCF-Powered Systematic Strategies 9 44 Themes/Categories Covered 30+ Comprehensive Investment Solutions Meeting Diverse Client Needs With Convictions million ABFL Abacus FCF Leaders ETF US Large Cap, Core, Inception: September 2016 ABOT Abacus FCF Innovation Leaders ETF US Growth, Disruptive Innovation, Inception: December 2020 ABLS Abacus FCF Small Cap Leaders ETF US Small Cap, Core, Inception Date: March 2021 ABLD Abacus FCF Real Assets Leaders ETF US Value, Inflation Hedge, Inception Date: December 2021 Source: Bloomberg, Morningstar, Abacus FCF Advisors, U.S. Bancorp Data as of 12/31/2024.
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45 Excess Return: Driving Consistent Outperformance Risk Management: Seeks to Mitigate Against Downside Volatility Investment Results: Delivering Exceptional Client Value Of AUM outperform benchmark for 5-yr period95% Average excess return annually over benchmark for 5-yr period+3% Source: Morningstar, Abacus FCF Advisors, U.S. Bancorp Data as of 4/30/2025. Performance data represents past performance and does not guarantee future results. All performance figures are gross of fees unless otherwise noted. Outperformance percentages, risk metrics, and Morningstar ratings are based on specific time periods and methodologies that may not be representative of all client experiences. Of AUM have lower downside risk compared to benchmark for 5-yr period99% Average max drawdown protection compared to benchmark for 5-yr period+3% AUM receive Morningstar 4- and 5- star ratings 87% Proven Performance & Recognition Outperformance That Seeks to Mitigate Downside Risk
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46 Active ETF Market to Surge: US$856 Billion in 2024 Projected to Reach US$11 Trillion by 2035, Representing a 13x Growth at 26% CAGR.11 trillion Source: Deloitte, Morningstar, Abacus FCF Advisors, Data as of 12/31/2024 -4% 8% 11% 26% -10% 0% 10% 20% 30% Passive Mutual Fund Active Mutual Fund Passive ETF Active ETF 2025-2035 CAGR Projection: Active ETFs Leading the Way 2024 AUM Growth Rate 5-year CAGR YoY Growth Abacus FCF Advisors: Ahead of the Curve 39% 50% 2035F Market Size Historical Growth & Future Opportunity Capitalizing on Market Transformation of Investment Funds
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Disclaimer Information provided is for informational and educational purposes only and is not a recommendation to take any particular action, or any action at all, nor an offer or solicitation to buy or sell any securities or services presented. It is not investment advice. Investing involves risk, including the possible loss of principal invested. Abacus FCF Advisors does not provide legal or tax advice. Past performance is no guarantee of future results. Opinions expressed are subject to change at any time, are not guaranteed and should not be considered investment advice. Before investing you should carefully consider the Fund’s investment objectives, risks, charges and expenses. This and other information is in the statutory and summary prospectuses, a copy of which may be obtained by visiting the Fund’s website at www.abacusfcf.com/ABFL, www.abacusfcf.com/ABLG, www.abacusfcf.com/ABLD, www.abacusfcf.com/ABOT, www.abacusfcf.com/ABXB. Please read the prospectus carefully before you invest. Opinions expressed are subject to change at any time, are not guaranteed and should not be considered investment advice. There is no guarantee that the funds will achieve their investment objectives. Because the Funds are Exchange Traded Funds (ETFs) (rather than a mutual fund), shares are bought and sold at market price (not Net Asset Value (NAV)), may trade at a discount or premium to NAV, and are not individually redeemable, Owners of the shares may acquire those shares from the Fund and tender those shares for redemption to the Fund in Creation Unit aggregations only, consisting of 25,000 shares. Brokerage commissions will reduce returns. Investments in the Funds may include risks associated with small-and mid-cap securities, which involve limited liquidity and greater volatility than large-cap securities. Investments in the funds may include returns associated with investments in foreign securities which could be more volatile than investments in domestic securities. Market Price: The current price at which shares are bought and sold. Market returns are based upon last trade price. NAV: The dollar value of a single share, based on the value of the underlying assets of the fund minus its liabilities, divided by the number of shares outstanding. Calculated at the end of each business day. Abacus FCF Advisors is an investment adviser registered in the United States under the Investment Advisers Act of 1940. INVESTMENT PRODUCTS ARE NOT INSURED BY THE FDIC, ARE NOT DEPOSITS AND MAY LOSE VALUE. Securities are distributed by Quasar Distributors, LLC. 49
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50 Presenter: Jean Carlo Oviedo – Director of Sales & Operations, ABL Tech ABL Tech – Building the Nation’s Leading Mortality and Data Intelligence Platform
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ABL Tech’s MVerify® is a single validation engine aggregating SSA, state vital records, obituary feeds, and other proprietary sources Foundational for pension funds, secondary life insurance and longevity-based investors Enables faster claim resolutions, fraud prevention, and pension liability optimization Validated mortalities = realized gains, reduced leakage, and higher confidence in projections 51 Unlocking Value Through Mortality Intelligence Mortality Tracking Highlights National Coverage 97% <1% False Positive Rates
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Unlocking Value Through Mortality Intelligence Average reduction in overpayments across new clients 15% Median mortality match time days from date of passing <30 52 Input Sources SSA State Records Obituaries Proprietary Feeds AI Model MVerify® w/ Sherlok-GPT Output Verified Mortalities Actionable Alerts Risk Flags Reporting Dashboard Mortality Data Is No Longer Just a Safeguard — It’s a Strategic Asset Coverage across U.S. Mortalities 97%
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Growth Trajectory and Market Penetration YoY Increase in Lives Tracked32x Government and Union Systems Now Using ABL Tech 100+ 53 High-Probability Market Opportunities Market Segment Estimated Lives Tracked Third-Party Administrator (TPA) 9,000,000 Public Pension Funds 1,400,000 Insurance 500,000 Mortgage Lenders 330,000 Union Pension Funds 280,000 Number of Lives Tracked – ABL Tech 26,000 56,000 127,851 678,000 Q1 2024 Q2 2024 Q3 2024 Q4 2024 Q1 2025 In Trial 1,598,536 Unlocking New Revenue Channels From Insurance to Pensions
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The Future of Identity and Mortality Intelligence Relative to Standard Mortality Tracking 10X Higher Revenue Yield TotalVerify addresses the full life cycle of participant identification: from mortality verification and address location to outreach and confirmation Addresses corporate and union pensions’ growing demand for automation, audit readiness, and fraud reduction Centralizes services currently fragmented across multiple products: MVerify® (mortality), LifeVerify® (address), and BeneVerify® (beneficiary outreach) Fully modular, API-driven, and designed for scalability across corporate and union plans’ retirement systems 54 TotalVerify — Powering the Next Generation of Mortality, Location, and Outreach Capabilities TotalVerify – ABL Tech’s New Unified Platform
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55 Unlike legacy providers, ABL Tech is data independent— we control our data stack, technology infrastructure, and client delivery. Our proprietary approach enables cost certainty, faster innovation, and greater accuracy in mortality and location intelligence. While others rely solely on SSA or limited-sourced data, ABL Tech aggregates, validates, and enriches multiple data streams—giving clients a broader view with fewer false positives. This control translates into superior client experience, higher ROI, and the ability to adapt rapidly to regulatory or client-driven changes. Owning the Stack: From Data to Delivery Controlling Our Destiny — ABL Tech Owns the Engine, the Data, and the Outcomes ABL delivers the results Control = Value Creation ABL owns the data We built the platform Controlling Our Destiny: Proprietary Data, Purpose-Built Technology 1 2 3 4
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What’s Next: Scaling for 10x Impact Relative to Standard Mortality Tracking 56 Nationwide Contract Expansion AI + Predictive Analytics Integration Client Automation + Self-Service Tools New Verticals Pursuing multi-agency agreement across states Mortality forecasting to flag high-risk anomalies Client portal enhancements Strategic partnerships with TPAs, actuarial consultants, and CPA firms Next-Level Insight. Next-Phase Growth. ABL Tech is now positioned to become the nation’s leading mortality tracking provider across insurance, pensions, and asset management. Our next phase is focused on scale, automation, and national footprint — expanding platform capabilities, onboarding large statewide contracts, multiemployer plans and deepening integrations with public and private systems. We are investing in AI-driven fraud detection, predictive mortality models, and participant re-engagement workflows that will shape how institutions and pension plans manage longevity risk for decades. Every client we serve, every dataset we ingest, strengthens our platform and increases value for shareholders. Key Growth Levers: This Is Just the Beginning
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57 Presenter: Armando Cabrera – Director of Engineering, ABL Tech ABL Tech – Engineering Update
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60 Integration of Precision Lifespans to personalize and enhance model inputs Monte Carlo Simulation Scenario Analysis Sensitivity Analysis Dynamic Risk Scoring Risk tools include: Mortality 10.0% 11.0% 12.0% 13.0% 100% 2,037,142$ 1,819,067$ 1,627,520$ 1,458,911$ 150% 2,901,096$ 2,642,876$ 2,411,536$ 2,203,917$ 200% 3,483,391$ 3,208,072$ 2,958,586$ 2,732,175$ 250% 3,915,013$ 3,632,034$ 3,373,611$ 3,137,304$ 300% 4,254,744$ 3,968,684$ 3,705,939$ 3,464,321$ Inputs Outputs Precision Lifespans Policy Valuation IRR Break-Even Probability Risk-Adjusted Return on Capital LEs Mortality Curves Historical Market Data Dynamic Valuation Tools: Lifespan-Based Asset Valuation IRR
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61 Constant intake of mortality records, actuarial updates, public health data Surveillance across regions, age bands, occupation and other demographics Continuous feedback loop on existing models with minimal lag Advanced analytics and insights from model outputs Real-Time Intelligence Live Mortality Trend Analysis
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62 Artificial Intelligence and the Future - From Algorithms to Outcomes From underwriting to investment decisions, AI is becoming the invisible engine powering insight, efficiency, and scale across our business. Generative Modeling for LE Scenarios AI creates personalized longevity models. AI-Driven Underwriting Assistants Predictive Analytics in Wealth Longevity Planning NLP Applied to Medical Record Ingestion Intelligent agents automate risk assessment. Aligns wealth management with lifespan predictions. Natural Language Processing extracts health insights.
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