Slides
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241. 174. 0 highlight Copyright 2025 Porch Group, Inc. All rights reserved Porch Group Corporate Presentation September 2025
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241. 174. 0 highlight Copyright 2025 Porch Group, Inc. All rights reserved Disclaimers Financial Targets Porch is providing guidance and targets for future periods in this presentation based on current market conditions, assumptions, and expectations as of the date of this presentation. Actual results may vary due to a number of factors, and there is no guarantee that we will be able to achieve these results. Please refer to the below for important disclaimers and a description of these factors. Certain full company guidance and forward-looking targets in this presentation, including the Adjusted EBITDA targets, represent Porch Shareholder Interest following the completed formation of Porch Reciprocal Exchange (“the Reciprocal") and sale of Homeowners of America Insurance Company ("HOA") to the Reciprocal on January 1, 2025. For the avoidance of doubt, guidance does not include the future results at the Reciprocal; while we consolidate their results into Porch GAAP financial statements, the Reciprocal results will be allocated to noncontrolling interest owned by the Reciprocal members and not to Porch Shareholders, and will therefore be excluded from Revenue, Gross Profit and Adjusted EBITDA guidance. Porch does not provide reconciliations of Porch Group Shareholder Interest expected Revenue, Gross Profit or Adjusted EBITDA for future periods to the most directly comparable measures prepared in accordance with GAAP because the Company is unable to provide these reconciliations without unreasonable effort because certain information necessary to calculate such measures on a GAAP basis is unavailable or dependent on the timing of future events outside of the Company’s control. Forward-Looking Statements Certain statements in this presentation are considered forward-looking statements as defined by the Private Securities Litigation Reform Act of 1995. These statements are based on the beliefs and assumptions of management. Although we believe that our plans, intentions, and expectations reflected in or suggested by these forward-looking statements are reasonable, we cannot assure you that we will achieve or realize these plans, intentions, or expectations. Forward-looking statements are inherently subject to risks, uncertainties, and assumptions. Generally, statements that are not historical facts, including statements concerning our financial outlook and guidance, future financial performance and results, possible or assumed future actions, business strategies, events, or results of operations, are forward-looking statements. These statements may be preceded by, followed by, or include the words “believe,” “estimate,” “expect,” “project,” “forecast,” “may,” “will,” “should,” “seek,” “plan,” “scheduled,” “anticipate,” “intend,” or similar expressions. Forward-looking statements are not guarantees of performance. You should not put undue reliance on these statements which speak only as of the date hereof. You should understand that the following important factors, among others, could affect our future results and could cause those results or other outcomes to differ materially from those expressed or implied in our forward-looking statements: expansion plans and opportunities, and managing growth, to build a consumer brand; the incidence, frequency, and severity of weather events, extensive wildfires, and other catastrophes; economic conditions, especially those affecting the housing, insurance, and financial markets; expectations regarding revenue, cost of revenue, operating expenses, and the ability to achieve and maintain future profitability; existing and developing federal and state laws and regulations, including with respect to insurance, warranty, privacy, information security, data protection, and taxation, and management’s interpretation of and compliance with such laws and regulations; the structure, availability, and performance of the Reciprocal's and HOA's reinsurance programs to protect against loss and maintain their financial stability ratings and a healthy surplus, the success of which are dependent on a number of factors outside management’s control; the possibility that a decline in our share price would result in a negative impact to the Reciprocal’s surplus position and may require further financial support to enable the Reciprocal to meet applicable regulatory requirements and maintain financial stability rating; uncertainties related to regulatory approval of insurance rates, policy forms, insurance products, license applications, acquisitions of businesses, or strategic initiative, and other matters within the purview of insurance regulators (including the discount associated with the shares contributed to HOA, that were subsequently transferred to the Reciprocal in connection with the closing of the sale of HOA to the Reciprocal); the ability of the Company and its affiliates to successfully operate and manage the Reciprocal and our ability to successfully operate our businesses alongside a reciprocal exchange; our ability to implement our plans, forecasts and other expectations with respect to the Reciprocal and to realize expected synergies and/or convert policyholders from our existing insurance carrier business into policyholders of the Reciprocal; reliance on strategic, proprietary relationships to provide us with access to personal data and product information, and the ability to use such data and information to increase transaction volume and attract and retain customers; the ability to develop new, or enhance existing, products, services, and features and bring them to market in a timely manner; changes in capital requirements, and the ability to access capital when needed to provide statutory surplus; our ability to timely repay our outstanding indebtedness; the increased costs and initiatives required to address new legal and regulatory requirements arising from developments related to cybersecurity, privacy, and data governance and the increased costs and initiatives to protect against data breaches, cyber-attacks, virus or malware attacks, or other infiltrations or incidents affecting system integrity, availability, and performance; retaining and attracting skilled and experienced employees; costs related to being a public company; and other risks and uncertainties discussed in Part II, Item 1A, “Risk Factors,” in our Annual Report on Form 10-K (“Annual Report”) for the year ended December 31, 2024 and in Part II, Item 1A. "Risk Factors" in our Quarterly Report on Form 10-Q for the quarter ended June 30, 2025, as well as those discussed elsewhere in this presentation, and in subsequent reports filed with the Securities and Exchange Commission (“SEC”), all of which are available on the SEC’s website at www.sec.gov. We caution you that the foregoing list may not contain all the risks to forward-looking statements made in this presentation. You should not rely upon forward-looking statements as predictions of future events. We have based the forward-looking statements contained in this release primarily on our current expectations and projections about future events and trends we believe may affect our business, financial condition, results of operations and prospects. The outcome of the events described in these forward-looking statements is subject to risks, uncertainties, and other factors, including those described above and elsewhere in this presentation. We disclaim any obligation to update publicly any forward-looking statements, whether in response to new information, future events, or otherwise, except as required by applicable law. Non-GAAP Financial Measures This presentation includes non-GAAP financial measures, such as Porch Shareholder Interest Revenue, Porch Shareholder Interest Gross Profit, Porch Shareholder Interest Gross Margin, Adjusted EBITDA (Loss), Adjusted EBITDA (Loss) Margin, Porch Shareholder Interest Cash from Operations, and Attritional Loss Ratio. See appendix for additional information. 2
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241. 174. 0 highlight Copyright 2025 Porch Group, Inc. All rights reserved Ready to Scale 80% Gross Margins¹ 16% Premium-to-Adj EBITDA¹ Track record of successful M&A Record of Execution Revenue: $72m ('20), $415m in '25 Gross Profit: 66% growth in '25¹ Adj EBITDA: 841% growth in '25¹ Porch Investment Highlights Defensible Strategy Unique property data for ~90% of US homes creates best-in-class underwriting results. Strong & Engaged Team Founder-led Long-term oriented Building a truly great company Profitable & Predictable $67.5m ‘25 Adj EBITDA Guidance¹ $100m ‘26 Adj EBITDA Target² 90%+ recurring revenue³ Massive Opportunities Insurance, data, software, warranty & moving all big TAMs (U.S. HO Insurance = $170B+) 1) Adjusted EBITDA, Porch Shareholder Interest Gross Profit, and Porch Shareholder Interest Gross Margin are non-GAAP financial measures. Please see slide 2 and appendix for important information regarding non-GAAP measures and financial targets. Represents the mid-point of 2025 guidance. 2) 2026 Adjusted EBITDA provided at the December 2024 Investor Day 3) Recurring revenue represented 93% of Porch Shareholder Interest revenue during the quarter ended June 30, 2025 4) 2020 full year Revenue of $72 million. 2025 full year Porch Shareholder Interest Revenue guidance midpoint of$415 million. 5) As it relates to Porch, Premium is synonymous with Reciprocal Written Premium 6) 16% Adj EBITDA conversion of Premium refers to Insurance Services Adj EBITDA as a percentage of Reciprocal Written Premium for the quarter ended June 30, 2025 3 4 5 ,6
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241. 174. 0 highlight Copyright 2025 Porch Group, Inc. All rights reserved • Tariffs: no significant impact • Recession: • Lower interest rates drive housing volumes • Industry premiums grown in the past • Inflation: scales premium at the Reciprocal • Weather: • Porch Shareholders no longer in the CAT weather claims business • More fees on higher premium Targeting U.S. Homeowners Insurance in a Compelling Way 4 1 2 4 3 Notes: 1) Porch Shareholder Interest Gross Margin is anon-GAAP financial measure. Please see slide 2 and appendix for important information regarding non-GAAP measures and financial targets. 2) Source: S&P Market Intelligence U.S. Total Direct Written Premiums data through 2024. US Homeowners Insurance Premiums² Recessionary Period 0 20 40 60 80 100 120 140 160 180 1996 1999 2002 2005 2008 2011 2014 2017 2020 2023 Home Premium ($b) As the manager of a 3rd party-owned Reciprocal, Porch participates in the large and growing US Homeowners Insurance market. We differentiate with a high margin, commission and fee-based business model with no direct weather exposure. This results in predictable, ~80% gross margin¹, recurring revenue.
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241. 174. 0 highlight Copyright 2025 Porch Group, Inc. All rights reserved Our strategy drives differentiation and competitive advantages 5
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Copyright 2025 Porch Group, Inc. All rights reserved 241. 174. 0 highlight Porch: A New Kind Of Homeowners Insurance Company Warranty, moving and home management services Differentiators to win Insurance Services for Consumers Best for homebuyers Advantaged underwriting More protection Unique data SaaS for home inspection, title, mortgage, and roofing Vertical SoftwareSoftware & Data Unique assets, strong SaaS margins and insights into US homebuyers Unique data Data Platform & distribution & experience 6
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241. 174. 0 highlight Copyright 2025 Porch Group, Inc. All rights reserved Software Brands Have Strong Market Share in Key Industries 7 >40% of all US home inspections¹ ~40% of title transactions² Leading POS software for mortgage Measurement software for roofers Notes: 1) ISN inspection volume as a percentage of estimated home inspections (YTD total inspections as a percentage of average home sa les estimates across National Association of Realtors, Mortgage Bankers Association and Fannie Mae) 2) Rynoh title transaction share is based on TTM Rynoh transactions as a percentage of total US home sales and refinance transactions according to Mortgage Bankers Association
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Copyright 2025 Porch Group, Inc. All rights reserved 241. 174. 0 highlight Our Data "Home Factors" Provides Unique Property Insights We know how people, geographies, and homes are unique Competitors know about people and geographies with little property data 8 We have Home Factors for ~90% of U.S. properties
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Copyright 2025 Porch Group, Inc. All rights reserved 241. 174. 0 highlight Higher Risk = Surcharge Lower Risk = Discount Market Pricing With Unique Data, Reciprocal Aims to Target Lower Risk Homes Water heater is 20 years old, in the attic, with rust Has a >100 amp electrical panel with no repairs needed Jack S Jill P 9 Higher prices for homes with more risk than the market realizes Lower prices for homes will less than average risks
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Copyright 2025 Porch Group, Inc. All rights reserved 241. 174. 0 highlight Q1'22 Q2'22 Q3'22 Q4'22 Q1'23 Q2'23 Q3'23 Q4'23 Q1'24 Q2'24 Q3'24 Q4'24 Q1'25 Q2'25 Better Risk Selection Drives Exceptional Reciprocal Results Attritional Loss Ratio trend (excl Cat. Weather) Gross Loss Ratio trend Gross Combined Ratio 113% 103% 93% 77% 107% 180% 58% 49% 97% 124% 89% 33% 71% 70% Gross Loss Ratio² 81% 80% 74% 56% 79% 120% 39% 36% 71% 117% 57% 21% 46% 38% Attritional Loss Ratio (excl. cat)³ 43% 44% 54% 32% 40% 35% 32% 30% 33% 21% 21% 16% 17% 8% FY22 FY23 Started using Porch unique data Ramped up use of Home Factors FY24 10 Now at 70 unique Home Factors Notes: 1) The spikes in Gross Loss Ratio in Q2 ’23 and Q2 ’24 are related to weather events in Texas. As of January 1, 2025, with the creation of the Reciprocal, Porch Group does not have direct weather exposure. Further, at the Reciprocal, we have mitigated its volatility and exposure to weather by purchasing third party Reinsurance at a $23M retention per event limit. 2) Current accident year 3) Attritional loss ratio excludes catastrophic weather claims. Attritional loss ratio is a non-GAAP financial measure. Please see slide 2 and appendix for important information regarding non-GAAP measures. 1 1 43% 34% 22% 13% 97% 71% FY25 YTD 79%88% 71% 69% 65% 42%
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241. 174. 0 highlight Copyright 2025 Porch Group, Inc. All rights reserved 2024 AM Best Report Validates We Are Better Than Peers 11 Source: AM Best Market Share Report April 2025, showing homeowners peer group. For US carriers with >$350m Direct Written Pre mium and for Texas carriers with >$50m Direct Written Premium. 1) Gross Direct Combined Ratio (“DCR”) as defined by AM Best, which is the sum of the Direct Loss and Loss Adjustment Expense Ra tio, the Direct Policyholder Dividend Ratio, and the Underwriting Expense Ratio. Direct Combined Ratio Measures the company’s overall underwriting profitability. A Direct Combined Ratio of less than 100 indicates a company is ma king an underwriting profit. AM Best's 2023 Report was similar, and we expect 2025 to again show best-in-class performance… Top Decile 2024 Direct Combined Ratio 1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 27 28 29 30 1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 27 28 29 30 Texas Top 30 Homeowners’ Insurance Carriers: 2024 Direct Combined Ratio 1 U.S. Top 30 Homeowners’ Insurance Carriers: 2024 Direct Combined Ratio 1
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241. 174. 0 highlight Copyright 2025 Porch Group, Inc. All rights reserved With More Margin in the System, Porch Group Gets Paid Well 12 5 Income Streams Generate Strong Financial Results for Porch, while the Reciprocal also grows surplus Non-CAT weather quota share reinsurance Policy fees direct from policyholders Fees for homebuyer leads from third party agencies ~15%² interest on $106m surplus notes Insurance Services Income Streams Notes: All numbers are $million unless otherwise stated. 1) 16% Adj EBITDA conversion of Premium was as of quarter ended June 30, 2025 2) The coupon on the $106 million notes is 9.75% plus SOFR, being approximately 15% in total (as of Q2'25) 1 5 2 3 4 Management fee based on Reciprocal Written Premium Reciprocal Premium to Porch Revenue at ~50% | Reciprocal Premium to Porch Adj EBITDA at ~16%¹
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241. 174. 0 highlight Copyright 2025 Porch Group, Inc. All rights reserved Attractive Insurance Services is the Largest Part of Porch 13 Notes: 1) Revenue figures represent Porch Shareholder Interests following the formation of the Reciprocal and sale of HOA to the Reciprocal in January 2025. For the avoidance of doubt, guidance does not include the future results of the Reciprocal or HOA. 2025 YTD Revenue Mix 61%22% 17% Insurance Services Software & Data Consumer Services
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241. 174. 0 highlight Copyright 2025 Porch Group, Inc. All rights reserved Which delivers strong financial outlook 14
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Copyright 2025 Porch Group, Inc. All rights reserved 241. 174. 0 highlight Q2 2025 Earnings Highlights 15 Notes: All numbers are $million unless otherwise stated. (1) Porch Shareholder Interest Revenue, Gross Profit, Gross Margin, Adjusted EBITDA, Adjusted EBITDA Margin and Cash Flow from Operations (also referred to as “Net Cash Provided by Operating Activities”) are non-GAAP financial measures. Please see slide 2 and appendix for important information regarding non-GAAP measures. (2) Porch Shareholder Interest Gross Profit of $89.2 million in Q2 2025 increased 431% or $72.4 million compared to Q2 2024 consolidated Gross Profit of $16.8 million. (3) Adjusted EBITDA of $15.6 million in Q2 2025 increased $50.4 million compared to Q2 2024 consolidated Adjusted EBITDA (loss) of $(34.8) million. $120.7 $107.0 $89.2 $15.6 $14.9 Reciprocal Written Premium Revenue Gross Profit Adj EBITDA Cash from Operations83% Gross Margin +$72m / +431% vs prior year2 +$50m vs prior year3 15% Adj EBITDA Margin Porch Shareholder Interest 1
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Copyright 2025 Porch Group, Inc. All rights reserved 241. 174. 0 highlight Completed Reciprocal Formation Leads to Higher Margins $72 $192 $276 $430 $438 $415 2020 2021 2022 2023 2024 2025 Guidance +$55m one-time1 Gross Profit ($m) ~42% 5-year CAGR $55 $134 $168 $210 $212 $335 2020 2021 2022 2023 2024 2025 Guidance ~44% 4-year CAGR Total Revenue ($m) See slide 2 for additional information regarding financial targets. Starting 2025 Revenue less Cost of Revenue disclosure was revised to Gross Profit. We reclassified approximately $10 million of 2024 costs for the consolidated Company from operating expenses into cost of revenue to conform to the new presentation beginning in 2025. 2025 reflects the financials relating to the Porch Group Shareholder Interests, therefore excludes the Reciprocal which is expected to be treated as a non-controlling interest. 1) In Q3’23, the Company terminated a reinsurance contract following allegations of fraud against Vesttoo Ltd. This resulted in less reinsurance. The impact of this in the second half of 2023 was additional Revenue of approximately $55 million. 2) Based on the midpoints of guidance ranges for Porch Shareholder Interest Revenue and Gross Profit. Please see slide 2 and appendix for important information regarding non-GAAP measures and financial targets. 16 Jan 1 transition from carrier (premiums as revenue) to operator of Reciprocal (commissions and fees as revenue) This transition increased Gross Margins from 48% to 80% 2 2
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Copyright 2025 Porch Group, Inc. All rights reserved 241. 174. 0 highlight Significant Improvements in Adjusted EBITDA Adj EBITDA (loss) ($m) ($45) $7.2 ~$68 ~$100 2023 2024 2025 Guidance 2026 Target Adjusted EBITDA is a non-GAAP financial measure. Please see slide 2 and appendix for important information regarding non-GAAP measures and financial targets. See slide 2 for additional information regarding financial targets. 1) 2026 Adj. EBITDA target was provided at Investor Day in December 2024. 17 +$52m 1 Provided at December 2024 Investor Day +$60m
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Copyright 2025 Porch Group, Inc. All rights reserved 241. 174. 0 highlight 18 Positive Adj EBITDA Correlates Closely to Positive Cash Flow Generated For Porch Shareholders Notes: All numbers are $million unless otherwise stated. 1) Represents cash, cash equivalents, and investments available to Porch shareholders. At December 31, 2024, excludes HOA and includes the ~$10m of the Reciprocal seed funding that is not reported as Porch cash from June 2025. At June 30, 2025, excludes both HOA and the Reciprocal • Reciprocal improves Porch Cash + Investments1 following formation on January 1, 2025 • $70m Porch Cash + Investments at December 31, 2024. Increased to $117.5m in Q2’25 • $106m surplus note offers opportunity, including liquidity $70 $118 $49 $106 December 31, 2024 June 30, 2025 Porch cash & investments Surplus notes 1 $119m $224m
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Copyright 2025 Porch Group, Inc. All rights reserved 241. 174. 0 highlight 2025 Guidance 2026 Target Medium Term RWP $500m $600m $3bn Revenue $415m $460m $2.3bn Growth ~20% Adjusted EBITDA $67.5m $100m $660m Margin 16% 22% 29% • Sustainable 20% growth in base case. Conservative assumptions on margin • Believe long-term growth rate exceeds 20% & long-term Adjusted EBITDA Margins exceed 40% • Compelling opportunity to generate Adjusted EBITDA & cash flow for Porch shareholders 2025 guidance is the mid-point of the range provided in Q2 2025 earnings. This relates to Porch Shareholder Interests, therefore excluding the Reciprocal and HOA. Note: Porch Shareholder Interest Revenue, Adjusted EBITDA, and Adjusted EBITDA Margin are non-GAAP financial measures. Please see slide 2 and appendix for important information regarding non-GAAP measures. Porch Group is not providing reconciliations of non-GAAP measures for future periods to the most directly comparable measures prepared in accordance with GAAP because the Company is unable to provide these reconciliations without unreasonable effort because certain information necessary to calculate such measures on a GAAP basis is unavailable or dependent on the timing of future events outside of the Company’s control. Looking Ahead: $2.3bn Revenue, $660m Adj EBITDA 19 Provided at December 2024 Investor Day Medium Term Target Provided at December 2024 Investor Day & Updated Q1’25 Porch Shareholder Interest (Excludes Reciprocal)
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241. 174. 0 highlight Copyright 2025 Porch Group, Inc. All rights reserved APPENDIX 20
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241. 174. 0 highlight Copyright 2025 Porch Group, Inc. All rights reserved Insurance Appendix 21
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241. 174. 0 highlight Copyright 2025 Porch Group, Inc. All rights reserved We Have Created the Optimal Structure with the Reciprocal Reciprocal Owned by PolicyholdersPorch Group Porch Reciprocal Exchange (“the Reciprocal”) Software & Data Insurance Services Consumer Services Commission & Fees Operating Services Surplus note ($106m @ 9.75% + SOFR) Captive Reinsurer Policyholders (members) Premiums & Surplus Insurance & Claims Payments Insurance Company (HOAIC) 22
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241. 174. 0 highlight Copyright 2025 Porch Group, Inc. All rights reserved We Have Created the Optimal Structure with the Reciprocal Reciprocal Exchange Porch Group Employees Claims Agent Commissions Reinsurance 23
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241. 174. 0 highlight Copyright 2025 Porch Group, Inc. All rights reserved Introducing Porch Insurance 24
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241. 174. 0 highlight Copyright 2025 Porch Group, Inc. All rights reserved With membership perks and discounts: The Very Best Insurance for Homebuyers Homebuyer discount Porch Moving Concierge 25 4 hours of moving services
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241. 174. 0 highlight Copyright 2025 Porch Group, Inc. All rights reserved How We Protect More With Extra Coverage: Service line coverage Water and sewer coverage Residential glass coverage Refrigerated product coverage 26 Annual whole-home warranty at no extra cost
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241. 174. 0 highlight Copyright 2025 Porch Group, Inc. All rights reserved With insights and tips: How We Reduce Risk Personalized home risk insights and recommendations Recall notices for appliances and systems Seasonal maintenance reminders Virtual Home Assistant The Porch Home App 27
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Copyright 2025 Porch Group, Inc. All rights reserved 241. 174. 0 highlight We Have Early Insights into ~90% of US Homebuyers Title file opened Sets up utilities and cable and security Porch App & Moving Concierge Purchases home insurance Home projects Books movers Purchases home warranty Mortgage application begins Receives inspection 28
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Copyright 2025 Porch Group, Inc. All rights reserved 241. 174. 0 highlight 1) Source: S&P Market Intelligence U.S. Total Direct Written Premiums data through 2024. 2) Source: The 2022 and the 2024 U.S. Home Insurance Study, JD Power. 3) Source: Estimated using the 2024 U.S. Home Insurance Study, JD Power and iProperty Management Average Length of Homeownership. With Early Access, the Reciprocal Targets Homebuyers We can reach homebuyers without massive brand spend 60% never switch3 Homebuyers retain better >$170bn U.S. Homeowners Insurance TAM1 40% of new policies are homebuyers2 60% never switch3 29
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241. 174. 0 highlight Copyright 2025 Porch Group, Inc. All rights reserved With the Right Structure, We Are Ready to Grow Reciprocal Written Premium 2026 Target ~$600m +20% 2025 Target ~$500m ~10-year opportunity ~$3bn +20%+ CAGR Note: We're providing estimated targets in the future based on current information and assumptions available to us, and arriving at such numbers requires us to make a number of assumptions that may not be true. This is for illustrative purposes only and these numbers should not be relied upon when making an investment decision. There are a number of circumstances in the future that could greatly affect these results that could or could not be within our control. Please see slide 2 for important information regarding financial targets. See slide 2 for a discussion of risks that could cause actual results to differ materially. 30
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Copyright 2025 Porch Group, Inc. All rights reserved 241. 174. 0 highlight 34% 22% 35% 43% 69% 65% FY'23 FY'24 Better Risk Drives Industry-Leading Reciprocal Results 31 Notes: 1) Current accident year gross loss ratio. 2) Attritional loss ratio excludes catastrophic weather claims. Attritional loss ratio is a non-GAAP financial measure. Please see slide 2 and appendix for important information regarding non-GAAP measures. Impact of CAT weather claims Attritional Loss Ratio2 88% 79% FY'23 FY'24 FY24 Gross Loss Ratio1 Improved 400bps YoY FY24 Gross Combined Ratio Improved 900bps YoY 21% 8% 96% 30% 38% Q2'24 Q2'25 Impact of CAT weather claims Attritional Loss Ratio2 Q2’25 Gross Loss Ratio1 Improved 7,900bps YoY 117%
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Copyright 2025 Porch Group, Inc. All rights reserved 241. 174. 0 highlight Reciprocal Surplus Growth Drives Adjusted EBITDA Surplus Combined With Non-Admitted Assets RWP Potential Potential Insurance Services Adj. EBITDA Increase ~$200M Q1 ‘25 ~$300M Q2 ‘25 ~$1B Q1 ‘25 ~$1.5B Q2 ‘25 ~$160M Q1 ‘25 ~$240M Q2 ‘25 ~5:1 – Premium : Surplus 16% – Premium : Insurance Services Adj. EBITDA ~$100M Increase in Q2 +51% Sequential Growth ~$500M Increase in Q2 ~$80M Increase in Q2 Note: There are a number of circumstances in the future that could affect Reciprocal Written Premium that could or could not be within our control. See slide 2 for important disclaimers. This illustration is based on the current surplus-to-premium ratio as well as the current premium-to-EBITDA ratio, and while not expected, both of which could change in the future. 32
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241. 174. 0 highlight Copyright 2025 Porch Group, Inc. All rights reserved Software & Data Appendix 33
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241. 174. 0 highlight Copyright 2025 Porch Group, Inc. All rights reserved Software & Data Segment: Brands 34
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241. 174. 0 highlight Copyright 2025 Porch Group, Inc. All rights reserved Our Software Support All Parts of an Inspection Business Of Inspections2>40% Inspection Companies1 ~9,000 Monthly Logo Retention3 99.3% NPS448 Key Metrics Notes: All figures were presented at the December 2024 Porch Investor Day 1) Unique inspection companies across all Porch inspection products. 2) ISN inspection volume as a percentage of estimated home inspections (YTD total inspections as a percentage of average home sales estimates across National Association of Realtors, Mortgage Bankers Association and Fannie Mae) 3) Average monthly logo retention for ISN from September 2023 to September 2024. 4) A new NPS collection process was implemented for ISN in February 2024. Results are for February through October 2024. CRM and Workflow Payment Processing Office Services Report Writer Growth Tools 35
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241. 174. 0 highlight Copyright 2025 Porch Group, Inc. All rights reserved We Are The Gold Standard in Title Software Solutions Automated Escrow Reconciliation Escheatment Account Validation One Easy-To-Use Platform Key Metrics Notes: All figures were presented at the December 2024 Porch Investor Day 1) Defined as average monthly logo retention rate from September 2023 to September 2024 Monthly Logo Retention199.3% Net Promoter Score75 LTV / CAC>7 # of title companies~2,600 36
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241. 174. 0 highlight Copyright 2025 Porch Group, Inc. All rights reserved The Housing Industry Has Faced Headwinds All data represents millions unless otherwise stated. (1) Source: US Census New Residential Sales, National Association of Realtors (2) Source: Mortgage Bankers Association Home Sales Transactions1 Declined… 6.9 5.7 4.8 4.8 4.8 2021 2022 2023 2024 2025E …So Did Refinance Transactions2 8.3 2.0 0.8 1.0 2.1 2021 2022 2023 2024 2025E 37
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241. 174. 0 highlight Copyright 2025 Porch Group, Inc. All rights reserved Our Software & Data Businesses Have Innovated Verifi launch Q4 2023 New Title Production Integration (Settlor) Q1 2025 Microservices framework and Plaid Integration Q4 2024 Smart Scheduling added to mobile app Q2 2025 ISN Report Writer Q4 2023 Improved Upgrades/Upsell for inspectors Q4 2024 RynohVerfi Bundle Q3 2024 Matic Homeowners Insurance Q1 2025 Third Party Originator (TPO) Portal Q2 2025 Enterprise-level functionality Q1 2025 Rynoh Inspection Floify 38 Floify Verify and Byte LOS Field Sync Q4 2024
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241. 174. 0 highlight Copyright 2025 Porch Group, Inc. All rights reserved Resulting in Continued Increase in Revenue Per Transaction $2.47 $3.68 $4.87 $6.02$6.53 $8.29 $8.68 $9.62 2021 2022 2023 2024 (1) Includes transactions from Floify (number of loan applications), ISN (number of inspections), Rynoh (number of closed files). Revenue includes Floify, ISN, Rynoh, and Guardian. Includes revenue from the full suite of Inspection, Mortgage, Title and Roofing solutions inclusive of acquisitions. Total Software1 Rynoh 39
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241. 174. 0 highlight Copyright 2025 Porch Group, Inc. All rights reserved Data Creates Value in Multiple Ways Improved pricing and risk for the Reciprocal & HOA Adding value to our customer experiences Improved pricing and risk for other carriers Helping businesses target the right consumers 1 4 2 3 40
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241. 174. 0 highlight Copyright 2025 Porch Group, Inc. All rights reserved Billions of Data Insights on Properties and Households DemographicsHomebuyers Home interior Home exterior Risk insights Movers Car in the garage Life events Interests / hobbies Buyer intent Wealth / Financial Active shoppers Household InfoProperty Info 41
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241. 174. 0 highlight Copyright 2025 Porch Group, Inc. All rights reserved We Are Producing Unique Insights Foundation repair/replace Windows repair/replace Roofing repair/replace Sump pump repair/replace Electrical panel repair Electrical wiring repair Electrical outlet repair flag 42
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241. 174. 0 highlight Copyright 2025 Porch Group, Inc. All rights reserved Example: Electrical Panel Needing Repair / Replacement Our data indicated a ~41% higher claims frequency 33% of Policyholders WITH electrical panel repair needed 39% of Policyholders WITHOUT electrical panel repair Current pricing 13% surcharge 18% discount 43
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241. 174. 0 highlight Copyright 2025 Porch Group, Inc. All rights reserved Consumer Services Appendix 44
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241. 174. 0 highlight Copyright 2025 Porch Group, Inc. All rights reserved Consumer Services Segment: Brands 45
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241. 174. 0 highlight Copyright 2025 Porch Group, Inc. All rights reserved Well Positioned to Grow through Diverse Demand Channels Real Estate & Inspection D2C Insurance Utilities Partnerships 46 Porch Reciprocal Exchange (“the Reciprocal”)
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241. 174. 0 highlight Copyright 2025 Porch Group, Inc. All rights reserved Connecting with Consumers Across the Home Journey Moving Concierge Porch App & Website Porch Home Concierge "My team can help you throughout the entire moving process, down to every last detail." Moving Services 47 TV/Internet Home Insurance Home projects Movers Home Security Home Warranty
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241. 174. 0 highlight Copyright 2025 Porch Group, Inc. All rights reserved We’re the 2nd Largest Moving Labor Provider ~90k completed moves in 2024 with 4.8/5 customer satisfaction Long-term partnerships with largest moving companies Operating several brands on 1 platform 48
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241. 174. 0 highlight Copyright 2025 Porch Group, Inc. All rights reserved Team Appendix 49
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241. 174. 0 highlight Copyright 2025 Porch Group, Inc. All rights reserved Strong Leadership Team Nicole Pelley EVP, Porch Platform Efram Ware President and Group GM, Insurance Malcolm Connor VP & Group GM, Home Services Joshua Steffan SVP & Group GM, Inspection & Real Estate Jake Miller VP Finance Nick Graham SVP & Group GM, Moving Matt Ehrlichman CEO, Chairman & Founder Shawn Tabak Chief Financial Officer Matthew Neagle Chief Operating Officer Matt Cullen SVP, GC and Secretary Janet Zimmermann SVP People Michelle Taves VP and Group GM, Data and Marketing Nathan Smith VP Corporate Controller Tyler Cobb VP, Corporate Development 50 John Campbell VP Investor Relations
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241. 174. 0 highlight Copyright 2025 Porch Group, Inc. All rights reserved Our Insurance Leadership Team Eric Lemieur Sales & Distribution Efram Ware President and GM Mike Capuzzi Ops & Claims Chad Mirock Product Andrea Ferrari Underwriting Nathan Smith Accounting Janiella Shirley Legal 51
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241. 174. 0 highlight Copyright 2025 Porch Group, Inc. All rights reserved We Lead With Our Values No Jerks / No Egos Be Ambitious Solve Each Problem Care Deeply Together We Win 52
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241. 174. 0 highlight Copyright 2025 Porch Group, Inc. All rights reserved Non-GAAP Financial Measures 53 This presentation includes non-GAAP financial measures, such as Adjusted EBITDA (Loss), Adjusted EBITDA (Loss) Margin, Certain amounts related to Porch Shareholder Interest, and Attritional Loss Ratio. We define Adjusted EBITDA (Loss) as net income (loss) adjusted for net income (loss) attributable to the Reciprocal; interest expense; income taxes; depreciation and amortization; gain or loss on extinguishment of debt; other expense (income), net; impairments of intangible assets and goodwill; loss on reinsurance contract; impairments of property, equipment, and software; stock-based compensation expense; mark-to-market gains or losses recognized on changes in the value of contingent consideration arrangements, warrants, and derivatives; restructuring costs; acquisition and other transaction costs; and non-cash bonus expense. Adjusted EBITDA (Loss) Margin is defined as Adjusted EBITDA (Loss) divided by total revenue. On January 1, 2025, Porch Group sold its legacy homeowners insurance carrier Homeowners of America to the Reciprocal, a separate entity which is owned by its policyholder-members that is a variable interest entity (“VIE”). The Reciprocal is managed, but not owned, by Porch Group, and is consolidated as a VIE for reporting purposes. Results in this presentation reference results generated for Porch shareholders (“Porch Shareholder Interest”), which includes the Insurance Services, Software & Data, and Consumer Services segments, along with corporate functions. These are the businesses which Porch owns. Many Porch Shareholder Interest amounts are non- GAAP measures; see Non-GAAP Financial Measures section of our earnings releases for definitions and reconciliations to GAAP Measures. The Attritional Loss Ratio is calculated by deducting the Gross Loss Ratio related to catastrophic weather events from total Gross Loss Ratio. Catastrophic weather events include, without limitation, hurricanes, tornados, earthquakes, hailstorms, wildfires, high winds, and winter storms. We believe Attritional Loss Ratio is useful to investors and use this financial measure to reveal trends in our Gross Loss Ratio that may be obscured by catastrophe losses. These catastrophe losses may cause our Gross Loss Ratio to vary significantly between periods as a result of their incidence of occurrence and magnitude. Our management uses these non-GAAP financial measures as supplemental measures of our operating and financial performance, for internal budgeting and forecasting purposes, to evaluate financial and strategic planning matters, and to establish certain performance goals for incentive programs. We believe that the use of these non- GAAP financial measures provides investors with useful information to evaluate our operating and financial performance and trends and in comparing our financial results with competitors, other similar companies and companies across different industries, many of which present similar non-GAAP financial measures to investors. However, our definitions and methodology in calculating these non-GAAP measures may not be comparable to those used by other companies. In addition, we may modify the presentation of these non-GAAP financial measures in the future, and any such modification may be material. You should not consider these non-GAAP financial measures in isolation, as a substitute to or superior to financial performance measures determined in accordance with GAAP. The principal limitation of these non-GAAP financial measures is that they exclude specified income and expenses, some of which may be significant or material, that are required by GAAP to be recorded in our consolidated financial statements. We may also incur future income or expenses similar to those excluded from these non- GAAP financial measures, and the presentation of these measures should not be construed as an inference that future results will be unaffected by unusual or non- recurring items. In addition, these non-GAAP financial measures reflect the exercise of management judgment about which income and expense are included or excluded in determining these non-GAAP financial measures. You should review the tables in our second quarter 2025 earnings release, available on our website, for reconciliations of these non-GAAP financial measures to the most directly comparable GAAP financial measure. We are not providing reconciliations of non-GAAP financial measures for future periods to the most directly comparable measures prepared in accordance with GAAP. We are unable to provide these reconciliations without unreasonable effort because certain information necessary to calculate such measures on a GAAP basis is unavailable or dependent on the timing of future events outside of our control.
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241. 174. 0 highlight Copyright 2025 Porch Group, Inc. All rights reserved Attritional Loss Ratio (ALR) Reconciliation 54 Notes: Attritional loss ratio is considered a non-GAAP financial measure. We define Attritional Loss Ratio as Gross Loss Ratio excluding the losses due to catastrophic weather . Attritional Loss Ratio The Attritional Loss Ratio is calculated by deducting the Gross Loss Ratio related to catastrophic weather events from total Gross Loss Ratio. Catastrophic weather events include, without limitation, hurricanes, tornados, earthquakes, hailstorms, wildfires, high winds, and winter storms. We believe the Attritional Loss Ratio is useful to investors and use this financial measure to reveal trends in our Gross Loss Ratio that may be obscured by catastrophe losses as such events cannot be accurately predicted and may cause our Gross Loss Ratio to vary significantly between periods as a result of their incidence of occurrence and magnitude. We have adopted the industry-wide catastrophe classifications of storms and other events published by Insurance Services Office, Inc. (“ISO”) to track and report losses related to catastrophes. ISO classifies an event as a catastrophe when the event causes $25 million or more in direct losses. The following table reconciles Gross Loss Ratio to Attritional Loss Ratio
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241. 174. 0 highlight Copyright 2025 Porch Group, Inc. All rights reserved Glossary 55 Term Definition Attritional Loss Ratio Gross Loss Ratio excluding the losses due to catastrophic weather. Catastrophic weather events include, without limitation, hurricanes, tornados, earthquakes, hailstorms, wildfires, high winds, and winter storms. Catastrophic Event (“CAT”) ISO’s Property Claim Services unit, the recognized authority on insured property losses, class a weather event as catastrophic when it has caused $25 million or more in total insured property industry losses, and it has affected a significant number of property and casualty policyholders and insurers. Gross Loss Ratio (“GLR”) We define Gross Loss Ratio as the Reciprocal’s gross losses divided by the gross earned premium for the respective period on an accident year basis. Gross or Direct Combined Ratio Gross or Direct Combined Ratio, being the sum of the loss ratio including loss adjustment expense and expense ratio. This is on a statutory basis for the Reciprocal. Porch Shareholder Interest On January 1, 2025, Porch Group sold its legacy homeowners insurance carrier Homeowners of America to the Reciprocal, a separate entity which is owned by its policyholder- members that is a variable interest entity. The Reciprocal is managed, but not owned by Porch Group, and is consolidated as a VIE for reporting purposes. Results in this earnings release reference results generated for Porch shareholders (“Porch Shareholder Interest”), the businesses which Porch owns, and also consolidated which is Porch Shareholder Interest plus the Reciprocal. Many Porch Shareholder Interest amounts are non-GAAP measures. Reciprocal Policies Written Defined as the number of new and renewal policies written during the period by the Reciprocal Segment. Reciprocal Written Premium (“RWP”) Defined as the total premium written by the Reciprocal for the face value of one year’s premium gross of cancellations and before deductions for reinsurance and ceding commissions in the period. Surplus combined with nonadmitted assets Defined as the total policyholder surplus per statutory reporting, plus the nonadmitted assets that include a portion related to Porch stock held by HOA which is applied as a discount in regulatory and statutory reporting.
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241. 174. 0 highlight Copyright 2025 Porch Group, Inc. All rights reserved 56 Email: IR@porch.com Website: IR.porchgroup.com Thank You