Slide 1: Investor Presentation February 2026
Investor Presentation February 2026
Slide 2: Disclaimer
Disclaimer This presentation contains forward-looking statements, within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. All statements other than statements of historical fact contained in this presentation, i
Slide 3: Our vision
Our vision: To be the leading growth partner for P&C insurance providers 3
Slide 4: Key Investment Highlights
Key Investment Highlights A leading and trusted partner for Property and Casualty 1 (”P&C”) insurance Insurance Marketplace Leader providers to drive their growth and attract high-intent consumers $129b in annual P&C insurance distribution and advertising spend continuing Massive Market Opportunity
Slide 5: Key Financial Highlights
Key Financial Highlights 2025 Record Revenue 2025 Adjusted EBITDA 2025 Adjusted EBITDA Margin $693m $95m 13.7% 38% YoY Growth, 62% YoY Growth, 2.0% pt. Increase YoY 15% 5-Year CAGR 39% 5-Year CAGR ~1.7% pt. growth per year since 2020 Q4 2025 Auto Revenue Q4 2025 Home Revenue 2025 Year End Cash Balan
Slide 6: Large & Expanding TAM
Large & Expanding TAM U.S. P&C Insurance Market: Highlights Market Growth Drivers Distribution and Advertising Spend1 Increased carrier focus on $129b growing policies in force P&C Distribution and Advertising Spend Market ~40% Less consumers buy insurance online than broader financial services2 Con
Slide 7: P&C "Soft Market" Provides Favorable Backdrop
P&C “Soft Market” Provides Favorable Backdrop “Soft Market”: A period following large rate increases to achieve rate adequacy; includes increased carrier competition to grow market share and policies in force, while underwriting standards ease and premiums decline P&C Combined Ratio1 Recent Carrier
Slide 8: Driving High-Intent Consumers to P&C Insurance Providers
Driving High-Intent Consumers to P&C Insurance Providers Consumer Acquisition Consumer Routing Distribution Traffic Consumer Provider Provider Representative Channels Arrival Matching Engagement Carriers2 Clicks Enterprise Distribution Partnerships Alignment Bidding Carriers Performance Media SEM Ag
Slide 9: Proprietary Platforms Strengthen Competitive Moat
Proprietary Platforms Strengthen Competitive Moat Highly integrated AI and proprietary data assets to support P&C insurance providers’ growth Marketing Consumer Distribution B2B Omni-channel Personalized User Consumer Alignment Enterprise & Agency Automated Bidding Experiences Algorithms Campaign Ma
Slide 10: Path to $1b+ of Annual Revenue
Path to $1b+ of Annual Revenue Our Vision: To be the leading growth partner for P&C insurance providers 1. Better Performing 2. Bigger Scale 3. Broader Services Proprietary data, tech, and consultative Higher performance relative to other Marketplace performance and scale earns partnerships to optim
Slide 11: Financial Highlights
Financial Highlights
Slide 12: Q4 2025 Results
Q4 2025 Results YoY Comparison Quarterly Revenue ($m) $m Q4 2024 Q4 2025 YoY Growth % $195.3 $173.9 $166.6 Revenue $147.5 $195.3 32% $156.6 $144.5 $147.5 Variable $44.0 $49.3 12% $117.1 Marketing Dollars $91.1 Adjusted EBITDA $18.9 $25.1 32% Adjusted EBITDA 12.8% 12.8% 0.0% pts. Margin % Q1 2024 Q2
Slide 13: Driving Growth and Expanding Profitability Since IPO
Driving Growth and Expanding Profitability Since IPO Auto Downturn Begins in Revenue ($m) Late Summer 2021 Variable Marketing Dollars ($m) CAGR 2018 - 2025: ~23% CAGR 2018 - 2025: ~23% $693 $250 39.0% $200 $192 37.0% EVER IPO $500 $155 $130 $128 35.0% $419 $150 $404 $109 33.0% $347 $100 $73 $100 31.
Slide 14: NASDAQ: EVER
NASDAQ: EVER
Slide 15: Appendix
Appendix
Slide 16: Key Metrics Definitions
Key Metrics Definitions Variable We define variable marketing dollars, or VMD, as revenue, as reported in our consolidated statements of operations and comprehensive income (loss), less advertising costs (a component of sales and marketing expense, as reported in our consolidated Marketing statement
Slide 17: Reconciliation of Adjusted EBITDA - 12 Months Ended
Reconciliation of Adjusted EBITDA - 12 Months Ended 12 Months Ended December 31, December 31, December 31, December 31, December 31, December 31, ($ in Thousands) 2025 2024 2023 2022 2021 2020 Net Income (Loss) $99,311 $32,169 ($51,287) ($24,416) ($19,434) ($11,202) Stock-based $24,299 $20,614 $22,8
Slide 18: Reconciliation of Adjusted EBITDA - 3 Months Ended
Reconciliation of Adjusted EBITDA - 3 Months Ended 3 Months Ended ($ in Thousands) December 31, September 30, June 30, March 31, December 31, 2025 2025 2025 2025 2024 Net Income (Loss) $57,755 $18,865 $14,701 $7,990 $12,306 Stock-based $5,591 $6,728 $6,560 $5,420 $5,310 compensation Depreciation & $