Slide 1: Q2 2026 Shareholder Letter
Slide 2: Key quarterly metrics
Letter to Shareholders: Q2 2026 ____________________________________________________________________________________________________________ Key quarterly metrics Gross premiums Gross premiums Gross accident written ($M) earned ($M) period loss ratio $346.2 $339.7 $371.3 $368.1 60.1% 61.6% $308.2 $3
Slide 3: Letter to Shareholders: Q2 2026
Letter to Shareholders: Q2 2026 ____________________________________________________________________________________________________________ 6. Continued advancing our next-generation pricing model, expected to launch in the fourth quarter, which we believe will further improve segmentation, custome
Slide 4: Growth
Letter to Shareholders: Q2 2026 ____________________________________________________________________________________________________________ We are building an insurance company for the AI era, one where pricing, underwriting, claims, customer interactions, software development, and capital allocati
Slide 5: Pricing and Underwriting
Letter to Shareholders: Q2 2026 ____________________________________________________________________________________________________________ Over the long term, we believe the best growth strategy is to build the best insurance product in the world, and that begins with pricing. Better risk selectio
Slide 6: Financials
Letter to Shareholders: Q2 2026 ____________________________________________________________________________________________________________ evidence that our investments in technology, enhanced by AI, and pricing are producing meaningful outcomes today. At the same time, we continue to invest in wh
Slide 7: Looking Forward
Letter to Shareholders: Q2 2026 ____________________________________________________________________________________________________________ Partnership and independent agent channels represented approximately 51% of new writings in the quarter, up from approximately 44% in the prior-year period, re
Slide 8: Non-GAAP financial measures
Letter to Shareholders: Q2 2026 ____________________________________________________________________________________________________________ Non-GAAP financial measures This letter and statements made during our earnings webcast may include information relating to Direct Contribution and Adjusted EB
Slide 9: Defined Terms & Glossary
Letter to Shareholders: Q2 2026 ____________________________________________________________________________________________________________ Defined Terms & Glossary We utilize the following definitions for terms used in this letter. AI: Artificial intelligence Direct Contribution We define direct c
Slide 10: Gross Accident Period Loss Ratio
Letter to Shareholders: Q2 2026 ____________________________________________________________________________________________________________ Gross Accident Period Loss Ratio Gross accident period loss ratio, expressed as a percentage, represents all losses and claims expected to arise from insured e
Slide 11: About Root, Inc.
Letter to Shareholders: Q2 2026 ____________________________________________________________________________________________________________ • Partnership: a wide array of integrations, spanning early-stage marketing partnerships through fully embedded user experiences. ◦ Automotive & Financial Serv
Slide 12: Root Insurance Company and Root Property & Casualty Insurance Company
Letter to Shareholders: Q2 2026 ____________________________________________________________________________________________________________ Root Insurance Company and Root Property & Casualty Insurance Company are headquartered in Columbus, Ohio, with renters insurance available through Root Insura
Slide 13: Forward-looking statements
Letter to Shareholders: Q2 2026 ____________________________________________________________________________________________________________ Forward-looking statements This letter contains—and statements made during the above-referenced webcast will contain— forward-looking statements relating to, a
Slide 14: Letter to Shareholders: Q2 2026
Letter to Shareholders: Q2 2026 ____________________________________________________________________________________________________________ • the accuracy and efficiency of our telematics and behavioral data, and our ability to gather and leverage existing and additional data; • our ability to mate
Slide 15: Letter to Shareholders: Q2 2026
Letter to Shareholders: Q2 2026 ____________________________________________________________________________________________________________ • our ability to expand domestically; • our ability to comply with laws and regulations that currently apply or become applicable to our business; • the impact
Slide 16: Financial statements
Letter to Shareholders: Q2 2026 ____________________________________________________________________________________________________________ Financial statements ROOT, INC. AND SUBSIDIARIES CONDENSED CONSOLIDATED BALANCE SHEETS - UNAUDITED As of June 30, December 31, 2026 2025 (in millions, except p
Slide 17: Condensed Consolidated Statements of Operations
Letter to Shareholders: Q2 2026 ____________________________________________________________________________________________________________ ROOT, INC. AND SUBSIDIARIES CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS AND COMPREHENSIVE INCOME - UNAUDITED Three Months Ended June 30, Six Months Ended J
Slide 18: Condensed Consolidated Statements of Cash Flows
Letter to Shareholders: Q2 2026 ____________________________________________________________________________________________________________ ROOT, INC. AND SUBSIDIARIES CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS - UNAUDITED Six Months Ended June 30, 2026 2025 (in millions) Cash flows from opera
Slide 19: Supplemental financial information
Letter to Shareholders: Q2 2026 ____________________________________________________________________________________________________________ Supplemental financial information ROOT, INC. AND SUBSIDIARIES KEY PERFORMANCE INDICATORS - UNAUDITED Three Months Ended June 30, March 31, December 31, Septem
Slide 20: Key Performance Indicators
Letter to Shareholders: Q2 2026 ____________________________________________________________________________________________________________ ROOT, INC. AND SUBSIDIARIES KEY PERFORMANCE INDICATORS - UNAUDITED Six Months Ended June 30, 2026 2025 2024 (dollars in millions, except Premiums per Policy) P
Slide 21: Reconciliation of Total Revenue to Direct Contribution
Letter to Shareholders: Q2 2026 ____________________________________________________________________________________________________________ ROOT, INC. AND SUBSIDIARIES RECONCILIATION OF TOTAL REVENUE TO DIRECT CONTRIBUTION - UNAUDITED Three Months Ended June 30, March 31, December 31, September 30,
Slide 22: Reconciliation of Total Revenue to Direct Contribution
Letter to Shareholders: Q2 2026 ____________________________________________________________________________________________________________ ROOT, INC. AND SUBSIDIARIES RECONCILIATION OF TOTAL REVENUE TO DIRECT CONTRIBUTION - UNAUDITED Six Months Ended June 30, 2026 2025 2024 (dollars in millions) T
Slide 23: Reconciliation of Net Income to Adjusted EBITDA
Letter to Shareholders: Q2 2026 ____________________________________________________________________________________________________________ ROOT, INC. AND SUBSIDIARIES RECONCILIATION OF NET INCOME/(LOSS) TO ADJUSTED EBITDA - UNAUDITED Three Months Ended June 30, March 31, December 31, September 30,
Slide 24: Reconciliation of Net Income to Adjusted EBITDA
Letter to Shareholders: Q2 2026 ____________________________________________________________________________________________________________ ROOT, INC. AND SUBSIDIARIES RECONCILIATION OF NET INCOME/(LOSS) TO ADJUSTED EBITDA - UNAUDITED Six Months Ended June 30, 2026 2025 2024 (dollars in millions) N
Slide 25: Written and Earned Premium
Letter to Shareholders: Q2 2026 ____________________________________________________________________________________________________________ ROOT, INC. AND SUBSIDIARIES WRITTEN AND EARNED PREMIUM - UNAUDITED Three Months Ended June 30, Six Months Ended June 30, 2026 2025 2026 2025 (dollars in millio