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August 7th, 2025 abacusgm.com Q2 2025 Earnings Presentation 1
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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. 2
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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, www.abacusfcf.com/ABLS. 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. 3
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Abacus Global Management Overview Established in 2004, Abacus is a global alternative asset manager, revolutionizing financial services through expert asset management and data-driven lifespan insights Technology-First Approach leveraging proprietary, data-driven insights for innovative solutions 2 Offices and 4 Representations across 3 continents, serving clients in over 30 countries ~160 Employees between origination, asset management, wealth management, and technology ~$3.3 Billion in AUM1 across longevity-based assets and a suite of ETF solutions 20 Years of track record 41 Estimated gross AUM of Longevity Funds, Abacus FCF Advisors, and the Balance sheet as of June 30, 2025
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Growth – Q2 2025 YoY Revenue Growth YoY Growth in Capital Deployed Total Inflows1 Profitability – Q2 2025 Adjusted Annualized ROE Adjusted Annualized ROIC Adjusted EBITDA Margin 16%93% $142M 22%21% 56% Abacus is strategically enhancing shareholder value through a multifaceted approach that includes robust financial performance, technological innovation, and strategic acquisitions Maximizing Shareholder Value 5 51Total Inflows calculated across Longevity Funds & Abacus FCF Advisors
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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. 6
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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. 7 7
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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 8
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BUILDING AND OWNING ASSET ORIGINATION IS THE KEY DRIVER OF OUR BUSINESS At Abacus We Control Our Destiny 9 9
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Our Life Solutions division combines deep industry expertise with proprietary technology to source, price, and manage secondary life insurance assets at scale, creating unique investment opportunities unavailable to traditional asset managers Our Life Solutions business is the origination engine behind longevity funds within Abacus Asset Group Excess production is sold to third-party investors as direct asset sales or structured products Our goal is to generate a spread on every asset that we touch Transforming Life Insurance into Investment Alpha Market leader with over $10 billion in face value of policies purchased since 2004 Two decades of mortality and policy data Sophisticated pricing algorithms and risk models National distribution network with over 30,000 financial advisors Institutional partnerships with insurance carriers Stable and highly profitable earnings base for our public company investors Creation of uncorrelated investment products for our limited partners Enables us to deliver excess return per unit of risk Abacus Life Solutions: 10 + =Business Model Competitive Advantage Value Creation
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11 11 Policy Sourcing & Origination: Driving Our Life Solutions Platform Long-term relationships with 78+ institutional origination partners 100+ person origination team with 20+ sales members, assigned by channel Licensed / ability to operate in 49 States National TV Campaign with strong market saturation on major news channels including Fox, CNN, FBN, Bloomberg, and MSNBC Policies Reviewed (YTD) 3,101 Traditional life settlement sourcing via DTC, Broker & Agent channels 30,000+ Financial Advisors network for policy acquisition Market Opportunity Tertiary Market — $29.4 Billion2 Institutional policy sales, legacy Universal Life blocks & mortality risk-reduction Accelerated capital deployment with enhanced portfolio diversification & liquidity Market Forecast Secondary Market — $255 Billion1 Origination volumes expected to continue to grow as policyholders seek additional liquidity options Demand for the asset will increase as institutional asset managers and investors seek less-correlated yield Brand recognition will keep expanding, driving greater policy originations & increased interest in the asset 1Average annual gross market potential for life settlements (2024 Conning Report) 2Available In-Force Coverage in 2023 (2024 Conning Report) $121.8M Capital Deployed (Q2 2025)
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We Control the Entire Asset Value Chain Vertical integration drives superior outcomes Spreads at origination Management fees Servicing fees Performance incentive fees 12
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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 $2.2 billion of fee-paying AUM across the longevity funds 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 13
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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 Multi-fund Servicing: 15 Different Funds Customizable service levels for each fund’s unique requirements Policies Serviced 2,860 Active Portfolio Management 2,867 Insureds Comprehensive Tracking $6.2B 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 14*Policy Servicing Data as of 06/30/2025
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Featured FCF Leaders ETFs Assets Under Management Institutional Holders 70+$826M Unique FCF-Powered Systematic Strategies 9 Themes/Categories Covered 30+ Abacus Asset Group: Suite of ETF Solutions 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, Abacus FCF Advisors, U.S. Bancorp Data as of 06/30/2025. 15 15
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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 ABL Tech: Unlocking Value Through Mortality Intelligence Mortality Tracking Highlights National Coverage 97% <1% False Positive Rates 16
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ABL Tech: Growth Trajectory and Market Penetration YoY Increase in Lives Tracked17x Government and Union Systems Now Using ABL Tech 100+ High-Probability Market Opportunities Market Segment Estimated Lives Tracked Third-Party Administrator (TPA) 2,000,000 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 Q2 2025 In Trial 1,598,536 Unlocking New Revenue Channels From Insurance to Pensions 17 2,033,198
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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 Leveraging synergies across our business verticals 18
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Q2 2025 Financial Overview 19 19
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Fee Related Earnings Principal Investing Earnings Total Operating Earnings Interest Expense, Net Taxes on Adj. Earnings Other Expenses & Taxes Adjusted Net Income Asset Management Fees Servicing Fees Origination Fees Technology Services Fees Active Management Performance Income Abacus Life Solutions Abacus Asset Group Abacus Wealth Advisors 1 ABL Tech Net of Operating Expenses and Compensation Net of Operating Expenses and Compensation Abacus Earnings Framework 201Abacus Wealth Advisors has de minimis revenues as we continue to build out that division of the business, with the expectatio n to substantially grow the revenue over the course of the next few years
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Q2 2025 vs Q2 2024 Performance Revenue % Increase Adj. EBITDA % Increase 89%93% Total revenue nearly doubles to $56.2 million, compared to $29.1 million in the prior-year period Adjusted Net Income grew to $21.9 million, compared to $11.7 million; and Adjusted EBITDA increased to $31.5 million, compared to $16.7 million in the prior-year period GAAP Net Income attributable to shareholders was $17.6 million, compared to $0.7 million in the prior-year period Longevity Funds attracted $123.1 million in capital inflows for the quarter, with the ETFs seeing +9% increase in growth in AUM compared to the prior quarter Successfully completed warrant exchange offer relating to both the public and private warrants; exchanging 18,188,277 warrants for an aggregate of 4,183,160 shares of newly issued common stock Adj. Net Income % Increase 87% Q2 2025 Financials Overview Gross Revenue $ 56.2 million Adjusted Net Income $ 21.9 million Adjusted EBITDA $ 31.5 million Capital Deployed for Policy Purchases $ 121.8 million Assets Under Management1 $ 3.3 billion Key Quarterly Achievements 1 Estimated gross AUM of Longevity Funds, Abacus FCF Advisors, and the Balance sheet as of June 30, 2025 1 2 3 4 5 Q2 2025 Financial Performance Highlights 21
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Raising — FY 2025 Guidance 22 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 The upper range reflects annualized YTD performance, adjusted for potential seasonal business patterns Metric Prior FY 2025 Guidance Current FY 2025 Guidance Implied YoY Change (%) Adjusted Net Income $70 million - $78 million $74 million - $80 million +59% to +72% FY 2024 Actual FY 2025 As of Q1'25 FY 2025 As of Q2'25 $46.5M $70M - $78M $74M - $80M $17.3M $39.2M Actual Forecast
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$6.8 $9.2 $5.9 $6.7 $11.8 $14.9 $13.4 $17.3 $21.9 Q2 2023 Q3 2023 Q4 2023 Q1 2024 Q2 2024 Q3 2024 Q4 2024 Q1 2025 Q2 2025 $11.4 $21.1 $23.6 $21.5 $29.1 $28.1 $33.2 $44.1 $56.2 Q2 2023 Q3 2023 Q4 2023 Q1 2024 Q2 2024 Q3 2024 Q4 2024 Q1 2025 Q2 2025 $9.1 $10.8 $11.1 $11.6 $16.7 $16.7 $16.6 $24.5 $31.5 Q2 2023 Q3 2023 Q4 2023 Q1 2024 Q2 2024 Q3 2024 Q4 2024 Q1 2025 Q2 2025 Revenue 1 Adjusted EBITDA and Adjusted Net Income are non-GAAP measures. For a reconciliation to the most directly comparable GAAP measure, see the Financial Information section Consolidated Proforma Historical Financial KPIs (Q2 2023 – Q2 2025) Adjusted Net Income1 ($ in millions)($ in millions) Adjusted EBITDA1 ($ in millions) 23
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Additional KPIs (Q2 2023 – Q2 2025) 1 Fee Paying AUM consists of Carlisle Management Company, Abacus FCF Advisors, LMA Funds, and Abacus Income Funds Q1 2025 Q2 2025 Balance Sheet Longevity Funds ETFs $758.5M $825.9M $2.2B $262.2M $3.1B $3.3B $327.9M $2.0B Gross Assets Under Management Fee Paying Assets Under Management1 Capital Deployed for Policy Originations – Abacus Life Solutions Number of Lives Tracked – ABL Tech $59.8 $56.4 $68.3 $54.6 $104.7 $93.2 $126.5 $125.9 $121.8 Q2 2023 Q3 2023 Q4 2023 Q1 2024 Q2 2024 Q3 2024 Q4 2024 Q1 2025 Q2 2025 Q1 2025 Q2 2025 Longevity Funds ETFs $2.8B $3.0B ($ in millions) 24 26,000 56,000 127,851 678,000 Q1 2024 Q2 2024 Q3 2024 Q4 2024 Q1 2025 Q2 2025 1,598,536 2,033,198In Trial
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25 Additional KPIs (Q1 2024 – Q2 2025) 2.3x 0.0x 1.0x 2.0x 3.0x Actual Turnover Target Range (1.5-2.0x) Annualized Turnover Ratio vs. Target (Annualized Turnover Ratio) Holding Period Comparison: Owned vs. Sold Policies (# of Days) 229 243 0 100 200 300 Days Held (Owned Policies) Days Held (Sold Policies) 21% 27% 26% 23% 21% 26% 0% 10% 20% 30% 2024 Q1 2024 Q2 2024 Q3 2024 Q4 2025 Q1 2025 Q2 Average Realized Gain on Policies Sold (%) Average Realized Gains (% Gain) In reference to policies held at Fair Market Value. Turnover and holding periods with regards to policies held on public comp any Balance Sheet.
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Q2 2025 Financial Appendix 26 26
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27 Three Months Ended June 30, Six Months Ended June 30, 2025 2024 2025 2024 REVENUES: Asset management fees $8,761,876 $204,888 $16,534,953 $422,823 Life solutions 47,300,844 28,871,214 83,599,501 50,140,463 Technology services 161,900 — 229,512 — TOTAL REVENUES 56,224,620 29,076,102 100,363,966 50,563,286 COST OF REVENUES (excluding depreciation and amortization stated below): Cost of revenue (including stock-based compensation) 6,054,644 2,743,534 13,163,051 5,464,431 GROSS PROFIT 50,169,976 26,332,568 87,200,915 45,098,855 OPERATING EXPENSES: Sales and marketing 3,267,715 2,552,801 5,883,715 4,482,745 General and administrative (including stock-based compensation) 18,926,329 14,553,344 31,190,115 25,906,843 (Gain) loss on change in fair value of debt — 1,199,463 (3,362,103) 3,912,090 Unrealized loss (gain) on investments 272,254 362,482 — (802,484) Realized gain on investments — (856,744) — (856,744) Depreciation and amortization expense 5,184,083 1,750,452 9,942,629 3,432,506 TOTAL OPERATING EXPENSES 27,650,381 19,561,798 43,654,356 36,074,956 OPERATING INCOME 22,519,595 6,770,770 43,546,559 9,023,899 Abacus Global Management, Inc. Income Statement
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28 Three Months Ended June 30, Six Months Ended June 30, 2025 2024 2025 2024 OTHER INCOME (EXPENSE): Gain (loss) on change in fair value of warrant liability 4,183,000 (667,500) (623,000) 279,460 Interest expense (8,752,145) (4,529,187) (18,370,475) (8,199,632) Interest income 1,012,278 639,906 2,187,279 1,061,332 Other income 2,718,172 195,470 2,673,648 142,442 TOTAL OTHER EXPENSE (838,695) (4,361,311) (14,132,548) (6,716,398) NET INCOME BEFORE PROVISION FOR INCOME TAXES 21,680,900 2,409,459 29,414,011 2,307,501 Income tax expense 4,069,971 1,757,710 6,404,056 2,931,223 NET INCOME (LOSS) 17,610,929 651,749 23,009,955 (623,722) LESS: NET INCOME (LOSS) ATTRIBUTABLE TO NONCONTROLLING INTEREST 27,240 (118,234) 786,683 (44,960) NET INCOME (LOSS) ATTRIBUTABLE TO ABACUS GLOBAL MANAGEMENT, INC. $17,583,689 $ 769,983 $22,223,272 $ (578,762) EARNINGS (LOSS) PER SHARE: Earnings (loss) per share - basic $ 0.18 $ 0.01 $ 0.23 $ (0.01) Earnings (loss) per share - diluted $ 0.18 $ 0.01 $ 0.23 $ (0.01) Abacus Global Management, Inc. Income Statement (cont’d)
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29 Abacus Global Management, Inc. Adjusted Net Income Three Months Ended June 30, Six Months Ended June 30, 2025 2024 2025 2024 Net income (loss) attributable to Abacus Global Management $ 17,583,689 $ 769,983 $ 22,223,272 $ (578,762) Net income (loss) attributable to noncontrolling interests 27,240 (118,234) 786,683 (44,960) Stock based compensation 3,486,829 6,165,459 5,842,224 12,258,830 Business acquisition costs 74,782 1,325,000 74,782 1,325,000 Amortization expense 4,667,987 1,706,033 9,301,141 3,388,117 (Gain) loss on change in fair value of warrant liability (4,183,000) 667,500 623,000 (279,460) Tax impact [1] 233,137 1,178,552 233,137 2,344,454 Adjusted Net Income $ 21,890,664 $ 11,694,293 $ 39,084,239 $18,413,219 Weighted-Average Stock Outstanding - Basic 94,690,195 63,846,170 95,437,545 63,087,878 Weighted-Average Stock Outstanding - Diluted 97,372,470 67,162,820 97,801,477 63,102,210 Adjusted EPS - Basic $ 0.23 $ 0.18 $ 0.41 $ 0.29 Adjusted - Diluted $ 0.22 $ 0.17 $ 0.40 $ 0.29 [1] Tax impact represents the permanent difference in tax expense related to the restricted stock awards granted to certain executives due to IRC 162(m) limitations.
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30 Three Months Ended June 30, Six Months Ended June 30, 2025 2024 2025 2024 Net Income (Loss) $ 17,610,929 $ 651,749 $ 23,009,955 $ (623,722) Depreciation and amortization expense 5,184,083 1,750,452 9,942,629 3,432,506 Income tax expense 4,069,971 1,757,710 6,404,056 2,931,223 Interest expense 8,752,145 4,529,187 18,370,475 8,199,632 Other income (2,718,172) (195,470) (2,673,648) (142,442) Interest income (1,012,278) (639,906) (2,187,279) (1,061,332) (Gain) loss on change in fair value of warrant liability (4,183,000) 667,500 623,000 (279,460) Stock based compensation 3,486,829 6,165,459 5,842,224 12,258,830 Business acquisition costs 74,782 1,325,000 74,782 1,325,000 Realized and Unrealized gain on investments 272,254 (494,262) — (1,659,228) Change in fair value of debt — 1,199,463 (3,362,103) 3,912,090 Adjusted EBITDA $ 31,537,543 $ 16,716,882 $ 56,044,091 $28,293,097 Total Revenue $ 56,224,620 $ 29,076,102 $100,363,966 $ 50,563,286 Adjusted EBITDA Margin % 56.1% 57.5% 55.8% 56.0% Net Income Margin % 31.3% 2.2% 22.9% -1.2% Abacus Global Management, Inc. Adjusted EBITDA
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31 June 30, 2025 (unaudited) December 31, 2024 ASSETS CURRENT ASSETS: Cash and cash equivalents $74,836,871 $131,944,282 Accounts receivable 14,512,827 15,785,531 Accounts receivable, related party 10,989,251 7,113,369 Income taxes receivable 145,839 2,099,673 Prepaid expenses and other current assets 5,435,222 2,621,791 Total current assets 105,920,010 159,564,646 Property and equipment, net 1,517,845 1,025,066 Intangible assets, net 71,392,006 79,786,793 Goodwill 238,921,108 238,296,200 Operating right-of-use assets 4,867,682 4,722,573 Management and performance fee receivable, related party 14,501,482 13,379,301 Life settlement policies, at fair value 386,144,698 370,398,447 Life settlement policies, at cost 1,109,808 1,083,977 Available-for-sale securities, at fair value 3,287,463 2,205,904 Other investments 9,850,000 1,850,000 Other assets 10,845,818 1,851,845 TOTAL ASSETS $848,357,920 $874,164,752 Abacus Global Management, Inc. Balance Sheet
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32 June 30, 2025 (unaudited) December 31, 2024 LIABILITIES, MEZZANINE EQUITY, AND STOCKHOLDERS' EQUITY CURRENT LIABILITIES: Current portion of long-term debt, at fair value $117,869,504 $37,430,336 Current portion of long-term debt 1,000,000 1,000,000 Accrued expenses 5,316,412 6,139,472 Current operating lease liabilities 646,851 515,597 Contract liabilities, deposits on pending settlements 45,869 2,473,543 Accrued transaction costs 879,329 483,206 Other current liabilities 12,143,344 14,423,925 Income taxes payable 2,276,726 — Total current liabilities 140,178,035 62,466,079 Long-term debt, net 224,895,561 224,742,029 Long-term debt, at fair value — 105,120,100 Long-term debt, related party 13,296,214 12,525,635 Retrocession fees payable 5,361,714 5,312,214 Noncurrent operating lease liabilities 4,713,328 4,580,158 Deferred tax liability 28,411,876 26,778,865 Warrant liability 9,968,000 9,345,000 TOTAL LIABILITIES 426,824,728 450,870,080 Abacus Global Management, Inc. Balance Sheet (cont’d)
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33 June 30, 2025 (unaudited) December 31, 2024 COMMITMENTS AND CONTINGENCIES (Note 12) MEZZANINE EQUITY Series A convertible preferred stock, $0.0001 par value; 5,000 shares authorized; 5,000 issued and outstanding 5,000,000 — TOTAL MEZZANINE EQUITY 5,000,000 — STOCKHOLDERS' EQUITY Preferred stock, $0.0001 par value; 1,000,000 shares authorized; 5,000 issued and outstanding — — Class A common stock, $0.0001 par value; 200,000,000 authorized shares; 97,954,471 and 96,731,194 shares issued at June 30, 2025 and December 31, 2024, respectively 9,795 10,133 Treasury stock - at cost; 6,129,703 and 1,048,260 shares repurchased at June 30, 2025 and December 31, 2024, respectively (47,076,918) (12,025,137) Additional paid-in capital 499,438,543 494,064,113 Accumulated deficit (35,767,080) (57,896,606) Noncontrolling interest (71,148) (857,831) TOTAL STOCKHOLDERS' EQUITY 416,533,192 423,294,672 TOTAL LIABILITIES, MEZZANINE EQUITY, AND STOCKHOLDERS' EQUITY $848,357,920 $874,164,752 Abacus Global Management, Inc. Balance Sheet (cont’d)
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