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INVESTOR PRESENTATION 2026 Midwest IDEAS Conference August 26, 2026 www.amcoastal.com
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Forward- Looking Statements American Coastal Insurance Corporation Statements made in this presentation and otherwise, that are not historical facts are “forward-looking statements”. The Company believes these statements are based on reasonable estimates, assumptions and plans. However, if the estimates, assumptions, or plans underlying the forward- looking statements prove inaccurate or if other risks or uncertainties arise, actual results could differ materially from those expressed in, or implied by, the forward-looking statements. These statements are made subject to the safe-harbor provisions of the Private Securities Litigation Reform Act of 1995. These forward-looking statements do not relate strictly to historical or current facts and may be identified by their use of words such as “may,” “will,” “expect,” "endeavor," "project," “believe,” "plan," “anticipate,” “intend,” “could,” “would,” “estimate” or “continue” or the negative variations thereof or comparable terminology. Factors that could cause actual results to differ materially may be found in the Company's filings with the U.S. Securities and Exchange Commission, in the “Risk Factors” section in the Company's most recent Annual Report on Form 10-K and subsequent Quarterly Reports on Form 10-Q. Forward-looking statements speak only as of the date on which they are made, and, except as required by applicable law, the Company undertakes no obligation to update or revise any forward-looking statements. 2
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The Investment Case ACIC is a disciplined, high-return specialty underwriter compounding book value through the cycle. 3 1 Leading Franchise The #1 admitted commercial-residential insurer in Florida — profitable every year since 2007. 2 Discipline & Returns Mid-20s ROE and a 68.6% underlying combined ratio, earned during a soft market with declining pricing. 3 Catastrophe Protection Structured so a severe hurricane year is an earnings event, not a capital event. 4 Alignment & Capital Roughly 50% insider-owned, compounding book value, and returning capital to shareholders. 5 Growth Optionality A credible path to broader specialty E&S: AmRisc now, ACES ahead.
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The Leading Florida Franchise The #1 admitted commercial-residential insurer in Florida — profitable every year since 2007. 4 How the business is built • AmCoastal — the balance-sheet carrier, with the #1 admitted commercial- residential share in Florida. • AmRisc — an exclusive distribution and underwriting partner, not a subsidiary. • Skyway (SKU) — the managing general agency that produces and underwrites commercial property. • ACES — the emerging specialty E&S carrier that expands underwriting reach over time. #1 FL commercial-residential ~4,450 Policies in force $573.0M Premium in force 2007 Profitable since inception
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Financial Snapshot American Coastal Insurance Corporation 5 FY 2025: $2.08 YTD Q2 2026: $0.72 Core EPS YE 2025: $6.51 6/30/2026: $7.21 Book Value / Share FY 2025: $335.4M YTD Q2 2026: $153.8M Revenue FY 2025: 35.2% YTD Q2 2026: 21.7% Core Return on Equity FY 2025: 60.1% YTD Q2 2026: 70.3% Combined Ratio FY 2025: 61.5% YTD Q2 2026: 68.6% Underlying Combined Ratio
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Underwriting Strategy American Coastal Insurance Corporation 6 • Targeting low-rise commercial buildings up to $100M of total insured value. • Flexible, judgement-based pricing for >75% of our portfolio. • Partnership with leading program managers with unique expertise and capabilities. • Exposure management through sophisticated catastrophe modeling and analytical tools. • Strong reinsurance partnerships and programs make catastrophes earnings events not capital events.
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Managing the Insurance Cycle American Coastal Insurance Corporation 7 • Excess capacity is expected to continue pressuring rates, deductibles, and other terms and conditions. • ACIC has seen this story before. Market softness does not mean enterprise weakness. • Managing risk exposure, underwriting guidelines, and reinsurance strategy enables us to maintain strong returns throughout the cycle. • We focus on the bottom-line, not top line growth that can put margin at risk.
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Strong Catastrophe Protection A severe hurricane year is designed to be an earnings event, not a capital event. 8 $1.7B First-event named-windstorm limit — protection to a ~1-in-285- year event $23.5M / $25M First- and second-event retentions; coverage cascades to lower retentions on later events 25 → 31 Reinsurers on a diversified, highly rated and collateralized panel (broadened at the 6/1/26 renewal) What investors should take away • Core CAT program covers hurricanes and tropical storms, with coverages that step down our second- and third-event retentions. • Multi-year placement locks in $764M of limit ahead of the 2027 renewal. • 3-year reinsurance cost is down roughly 36–40% while coverage broadened. • Even a high-severity or high-frequency year is expected to leave ACIC profitable and well capitalized.
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A Credible Path to Specialty E&S Growth Broadening beyond Florida — without chasing underpriced business. 9 LIVE NOW Lever 1 — AmRisc E&S Participation • Quota share supporting AmRisc's nationwide E&S commercial property book. • $28.7M written premium year-to-date; framed as roughly $70–80M of 2026 written premium. • A capital-light first step into E&S, using an established and expert distribution partner. 2027 Lever 2 — ACES & Skyway Platform • ACES specialty E&S carrier (approval pending); Skyway originates new commercial property business. • Expected to begin contributing new E&S premium in 2027. • Long-term vision: a leading nationwide specialty commercial property E&S insurer.
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E&S Opportunities American Coastal Insurance Corporation 10 ACIC has previous commercial property underwriting experience in South Carolina & Texas and will consider other catastrophe exposed markets where we can deploy our highly specialized expertise to earn strong returns on capital. Class Florida Texas South Carolina Apartments ~$140M ~$460M ~$60M Condo Associations Core portfolio in-force (Exclusive with AmRisc) ~$390M ~$120M Homeowners Associations Core portfolio in-force (Exclusive with AmRisc) ~$730M ~$220M Assisted Living Facilities ~$100M ~$20M ~$5M Commercial Property ~$1.2B ~$300M ~$50M Total ~$1.4B ~$1.9B ~$455M
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Compounding Book Value & Returning Capital Disciplined with risk — and disciplined with capital. 11 $2.45 → $7.21 Book value per share, Q2-23 to Q2-26 — a ~43% three-year CAGR ~50% Owned by directors and officers — strong alignment with shareholders $19.4M Shares repurchased in 2026, with $30.6M of authorization remaining Returning capital to shareholders • Special dividends of $0.50 (2024) and $0.75 (2025), declared when capital is in excess of projected needs. • Targeting ≤25% debt-to-total-capital; the ratio has improved to 30.5%, with debt reduction planned at the 2027 maturity. • Kroll upgrade in Q2 2026 — AmCoastal to A, ACIC issuer to BBB (Demotech A). • Buybacks when management views the stock as significantly undervalued. • May issue shares in lieu of debt issuance when prudent, rather than raising new debt.
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Why American Coastal? 12 Price/2026 Estimated EPS American Coastal Insurance Corp – 12.3x US Commercial P&C Insurers – 13.6x Average US Specialty P&C Insurers – 14.5x Average Price/Book Value American Coastal – 1.43x US Commercial P&C Insurers – 1.52x Average US Specialty P&C Insurers – 1.94x Average Source: S&P Capital IQ, Market data as of 8/07/2026, estimated EPS based on published forecasts for all categories to ensure accurate comparison. The Value Proposition • Price to estimated earnings and price to book value trail both US Commercial P&C Insurers and US Specialty P&C Insurers. • Growth initiatives should solidify the Company’s identity as a Specialty Commercial Underwriter. • A track record of strong earnings, market discipline and steady book value growth position the stock well to normalize with these markets. • The Company expects to continue to return capital via share buybacks and special dividends as results and capital needs allow.
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Consolidated Financial Results American Coastal Insurance Corporation $ in millions, except per share data Three Months Ended Six Months Ended June 30, 2026 2025 % Chg. 2026 2025 % Chg. Gross Premiums Earned $139 $165 (16.2)% $280 $328 (14.6)% Net Premiums Earned $70 $78 (11.1)% $135 $147 (7.8)% Total Revenue $83 $86 (4.5)% $154 $159 (3.1)% Consolidated Net Income $22 $26 (17.2)% $41 $48 (13.9)% *Core Income $16 $27 (38.5)% $36 $47 (24.6)% *Core Income Per Diluted Share $0.33 $0.54 (38.9)% $0.72 $0.96 (25.0)% Book Value per Share $7.21 $6.00 20.2% *Core income and core income per diluted share, both of which are measures that are not based on GAAP, are reconciled above to net income and net income per diluted share, respectively, the most directly comparable GAAP measures. Additional information regarding non-GAAP financial measures presented in on this slide can be found in the "Definitions of Non-GAAP Measures" section, on slide 28. Six Months Ended June 30, 2026 Return on Equity 25.0% based on GAAP earnings from continuing operations, net of tax Return on equity is calculated by annualizing the income for the period and dividing by the average stockholders' equity for the trailing twelve months. 13
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Select Balance Sheet Data American Coastal Insurance Corporation Improving Capitalization = Growth Opportunity $ in millions June 30, 2026 December 31, 2025 Total Investments $333 $355 Cash and Cash Equivalents $219 $199 Cash & Investments $650 $648 Total Assets $1,244 $1,073 Unpaid Losses & LAE $119 $166 Notes Payable $149 $149 Total Liabilities $903 $755 Total Stockholders’ Equity $341 $318 Total Liabilities and Stockholders' Equity $1,244 $1,073 14
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Leadership Team Deep underwriting expertise, ~50% insider ownership, and a proven record of managing through cycles. 15 Dan Peed Executive Chairman, Founder & Former CEO Brad Martz President & CEO Lana Castle Chief Financial Officer Troy Crawford Chief Underwriting Officer Chris Griffith Chief Information & Operating Officer Andy Gray Chief Compliance & Risk Officer Brooke Adler General Counsel Full executive bios available at amcoastal.com/investors.
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In Summary Disciplined, high-return, well-protected, aligned, and building growth. 16 1 Leading Franchise #1 admitted commercial-residential share; profitable every year since 2007. 2 Discipline & Returns 68.6% underlying combined ratio and 25.0% return on equity YTD. 3 Catastrophe Protection 6/1/2026 renewal improved terms and lowered cost; an earnings event, not a capital event. 4 Alignment & Capital Book value +20.2% year-over-year, ~50% insider-owned, special dividends paid. 5 Growth Optionality E&S participation live now; ACES contributing in 2027.
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Appendix: Financials and Reinsurance Structures American Coastal Insurance Corporation 17
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18 Compounding Book Value & Returning Capital Book value compounding ~43% over three years, aligned ownership and capital returned. Alignment & Capital Return • ~50% owned by directors and officers. • Special dividends of $0.50 (2024) and $0.75 (2025). • Debt-to-total-capital improved to 30.5%. • Ratings: Upgraded during the second quarter by Kroll. Kroll A (Stable), Demotech A (Exceptional), BBB (Stable) issuer. Book Value per Share $0 $1 $2 $3 $4 $5 $6 $7 $8 Q3-23 Q4-23 Q1-24 Q2-24 Q3-24 Q4-24 Q1-25 Q2-25 Q3-25 Q4-25 Q1-26 Q2-26 $2.45 (Q2-23) → $7.21 (Q2-26) | 3-yr CAGR 43.3%
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Core CAT Reinsurance American Coastal Insurance Corporation Our core catastrophe reinsurance program provides protection against hurricanes and tropical storms. We focus on both frequency and severity, with an exhaustion point sufficient for a 1-in-285-year event and coverages that decrease our second and third event retentions. The result is a robust program that limits our losses and make catastrophe losses earnings events, not capital events, even in a high severity or high frequency active year. We have long-term relationships with a diversified panel of highly rated reinsurers and fully collateralized reinsurance providers that help ensure continuity of our risk transfer strategy over time. Named Windstorm Protection from named or numbered windstorms $1.7 billion Catastrophe reinsurance 1st event coverage up to $23.5 million First event retention limited to: Effective Jun 1, 2026 – May 31, 2027 $25.0 million Second event retention limited to: 19
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All Other Reinsurance American Coastal Insurance Corporation We are exposed to losses outside of hurricane and tropical storms and mitigate the volatility of these losses through two other reinsurance placements. Our all other perils catastrophe reinsurance provides protection from catastrophe loss events such as hailstorms, tornados and other severe convective storms. Our excess per risk reinsurance limits our losses from non-catastrophe perils includes fire, water damage (excluding flood), sinkhole and building collapse. Comprehensive Coverage for Non-Named Windstorm Events Retention on the first and second event $10 million All other perils catastrophe reinsurance $4 million Excess Per Risk Reinsurance 20 Per risk retention on non-catastrophe perils
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Contact Us American Coastal Insurance Corp. 570 Carillon Parkway, Suite 100 Saint Petersburg, FL 33716 Transfer Agent Equiniti Trust Company, LLC 48 Wall Street, Floor 23 New York, NY 10005 (800) 937 5449 helpast@equiniti.com American Coastal Insurance Corporation Investor Relations Mr. Alexander Baty VP of Finance & Investor Relations investorrelations@amcoastal.com (727) 425-8076 Mr. Glen Akselrod Bristol Investor Relations ga@bristolir.com (905) 326-1888 25
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The Company believes that investors' understanding of ACIC's performance is enhanced by the Company's disclosure of the following non-GAAP measures. The Company's methods for calculating these measures may differ from those used by other companies and therefore comparability may be limited. Core return on equity is a non-GAAP ratio calculated using non-GAAP measures. It is calculated by dividing the core income (loss) for the period by the average stockholders’ equity for the trailing twelve months (or one quarter of such average, in the case of quarterly periods, or one half of such average, in the case of six-month periods). Core income (loss) is an after-tax non-GAAP measure that is calculated by excluding from net income (loss) the effect of income (loss) from discontinued operations, net of tax, non-cash amortization of intangible assets, including goodwill, unrealized gains or losses on the Company's equity security investments and net realized gains or losses on the Company's investment portfolio. In the opinion of the Company’s management, core income (loss), core income (loss) per share and core return on equity are meaningful indicators to investors of the Company's underwriting and operating results, since the excluded items are not necessarily indicative of operating trends. Internally, the Company’s management uses core income (loss), core income (loss) per share and core return on equity to evaluate performance against historical results and establish financial targets on a consolidated basis. The most directly comparable GAAP measure is return on equity. The core return on equity measure should not be considered a substitute for return on equity and does not reflect the overall profitability of the Company's business. Core earnings per share is a non-GAAP measure that is computed by adding amortization, net of tax, to net income (loss) and subtracting income (loss) f rom discontinued operations, net of tax, realized gains (losses) on the Company's investment portfolio, net of tax, and unrealized gains (loss es) on the Company's equity securities, net of tax, from net income (loss). Amortization expense is related to the amortization of intangible assets acquired, including goodwill, through mergers and, therefore, the expense does not arise through normal operations. Investment portfolio gains (losses) and unrealized equity security gains (losses) vary independent of the Company's operations. The Company believes it is useful for investors to evaluate these components both separately and in the aggregate when reviewing the Company's per formance. The most directly comparable GAAP measure is net income (loss). The core income (loss) measure should not be considered a substitute for net income (loss) and does not reflect the overall profitability of the Company's business. Underlying combined ratio is a non-GAAP measure, that is computed by subtracting the effect of current year catastrophe losses and prior year development from the combined ratio. The Company believes that this ratio is useful to investors, and it is used by management to highlight the trends in t he Company's business that may be obscured by current year catastrophe losses and prior year development. Current year catastrophe losses cause the Company's loss trends to vary s ignificantly between periods as a result of their frequency of occurrence and severity and can have a significant impact on the combined ratio. Prior year development is cause d by unexpected loss development on historical reserves. The Company believes it is useful for investors to evaluate these components both separately and in the aggregate w hen reviewing the Company's performance. The most directly comparable GAAP measure is the combined ratio. The underlying combined ratio should not be considered as a substitut e for the combined ratio and does not reflect the overall profitability of the Company's business. American Coastal Insurance Corporation Definitions of Non-GAAP Measures 26