Porch Group, Inc. · NASDAQ:PRCH

Porch — Merger or Acquisition (January 2021)

22 slides from Porch's merger presentation, Jan 14, 2021

Slide 1: M&A and Investor Update Presentation
Love your home. For moving and improving and everything in between. Group M&A and Investor Update Presentation Jan. 14, 2021 Copyright 2021 Porch.com. All rights reserved 1
Slide 2: Disclaimers
DISCLAIMERS Forward-Looking Statements Certain statements in this presentation may be considered “forward-looking statements” within the meaning of the “safe harbor” provisions of the United States Private Securities Litigation Reform Act of 1995. Forward-looking statements generally relate to futur
Slide 3: Presenters
Presenters Matt Ehrlichman Marty Heimbigner CEO & Founder, Porch Group CFO, Porch Group matt@porchgroup.com marty@porchgroup.com www.porchgroup.com Adam Kornick Andy Frawley President, InsurTech Division SVP, Marketing Software Division CEO, V12 Copyright 2021 Porch.com. All rights reserved 3
Slide 5: Porch, the Vertical Software Platform for the Home
Porch, the Vertical Software Platform for the Home Software & Services for Companies Porch has a unique strategy in the home services industry. 1. Porch provides software and services to home services companies such as home inspection and moving. 2. Through these companies, Porch gains early access
Slide 6: Porch Has The Potential to Grow Revenues ~20x
(1) Porch Has The Potential to Grow Revenues ~20x 1 $1600 ~$400M ~$1.5B Mover Marketing: ~$200M potential revenue opportunity $1400 • Data monetization by shifting mover marketing 3 spend by brands from change of address to 6 $1200 weeks prior with Porch. ~$400M $1000 2 2 $800 Insurance Expansion: ~
Slide 7: 2020 Business & Financial Update
2020 Business & Financial Update 2020 Financial Outlook Update(1) Successful SPAC Completion – 12/23/20 • Revenue expectation of slightly above $72M • 99.99% of PropTech stockholders elected to retain their holdings, ~$173M remained in trust • Starting in Q3, given SPAC certainty and investor feedba
Slide 9: We Are Executing Our Plan Rapidly with Several Strategic Acquisitions
We Are Executing Our Plan Rapidly with Several Strategic Acquisitions B2B2C Insurance Expansion Mover Marketing Expansion Vertical Software Expansion Copyright 2021 Porch.com. All rights reserved 9
Slide 10: HOA Accelerates Porch's Insurance Expansion by Many Years
HOA Accelerates Porch’s Insurance Expansion by Many Years MGA+Carrier hybrid model is ideal: strong Positioned for rapid growth as part of Porch: economics & flexible capital requirements geographic, product, and tech enablement ✓ MGA structure offers financial flexibility ✓ Homeowners Insurance onl
Slide 11: HOA + Porch Well-Positioned to Become an InsurTech Winner
HOA + Porch Well-Positioned to Become an InsurTech Winner ✓ Fits squarely with Porch’s strategy of going deeper into the insurance value chain Home insurance is the highest value service in the home and is a key growth opportunity. Combining an MGA/Carrier with our brokerage provides the highest LTV
Slide 12: V12 Dramatically Expands Porch's Mover Marketing Business
V12 Dramatically Expands Porch’s Mover Marketing Business Fully-Scaled Mover Marketing & Data Platform Comprehensive Household Data with Self-Service SaaS Tools for SMBs ✓ One of a small set of scaled marketing platforms with movers ✓ Data Platform with ~330M consumers (~100% of US age 18+) as one o
Slide 13: V12 + Porch Well-positioned to Lead in Mover Marketing
V12 + Porch Well-positioned to Lead in Mover Marketing ✓ Fits squarely with Porch’s strategy of expanding in mover marketing space V12 dramatically accelerates the capabilities and infrastructure to achieve Porch’s stated medium-term target of a $200M high margin revenue stream within mover marketin
Slide 14: HOA & V12 Deal Summary
HOA & V12 Deal Summary • Combined purchase price: $97M cash, $25M stock (based on share price at close of HOA)(1) • Effective combined revenue multiple: 2.0x 2021E revenue(1) • Expect acquisitions to be in-line with long-term growth (30%) and EBITDA (25%) targets HOA Deal Summary V12 Deal Summary •
Slide 15: PalmTech & iRoofing Overview
PalmTech & iRoofing Overview Overview Overview • Home inspection report writing software. • All-in-one SaaS application for roofing contractors. • Partner/competitor to ISN. • Software provides for remote measurement and quoting, contract management, light CRM, and • Product is well designed for the
Slide 16: These Acquisitions Have Expanded Our U.S. Total Addressable Market by Almost $100B
These Acquisitions Have Expanded Our U.S. Total Addressable Market by Almost $100B U.S. Total Addressable Market grows from ~$228B to ~$320B Moving Services: ~$4B(1) Moving (moving, security, TV/internet) Services Mover Marketing: Zero → ~$8B(4) Mover Marketing Contractor Services: ~$141B(3) Contrac
Slide 18: 2021 Revenue Now Expected to be $170M (>134% YoY Growth)
2021 Revenue Now Expected to be $170M (>134% YoY Growth)(1) $20M $170M $44M ($14M) $48M $120M $72M+ ‘20E Revenue YoY Growth Prev ‘21 Guide +HOA -HOA Q1 Rev & +V12 2021 Revenue Estimated EIG commissions Estimated Guidance Revenue Revenue Previous Guidance: 66% YoY Growth 134% YoY Growth (1) Please re
Slide 19: 90% of 2021E Revenue Expected to be Recurring or Reoccurring
90% of 2021E Revenue Expected to be Recurring or Reoccurring $120M $170M HOA: Major partner of Porch’s insurance brokerage today. All revenues via B2B2C and all revenues recurring. V12: Solution is sold as a recurring subscription product to brands and is included in B2B Recurring revenues. (1) B2B
Slide 20: We are Investing, While Showing Strong Annual Improvements in Adjusted EBITDA %
We are Investing, While Showing Strong Annual Improvements in Adjusted EBITDA % Each year we expect to demonstrate a meaningful improvement in Adjusted EBITDA margin, showing consistent progress toward our long-term target of 25%. We believe our decision to deploy more dollars into R&D, sales & mark
Slide 21: Summary: Porch expected to grow 134% YoY in 2021
Summary: Porch expected to grow 134% YoY in 2021 ✓ 2021 Revenue guidance increased from $120M to $170M, 134% YoY growth ✓ ~90% of 2021 revenue: either B2B SaaS or B2B2C Reoccurring Move-Related Transactions ✓ Adjusted EBITDA Loss targeted to be cut approximately in half: -25% (2020) to -13% (2021) ✓

Porch Group — Merger or Acquisition (January 2021) on 6ix

Porch — Merger or Acquisition (January 2021)

Slide 1: M&A and Investor Update Presentation

Slide 2: Disclaimers

Slide 3: Presenters

Slide 4: Company Strategy Refresher

Slide 5: Porch, the Vertical Software Platform for the Home

Slide 6: Porch Has The Potential to Grow Revenues ~20x

Slide 7: 2020 Business & Financial Update

Slide 8: M&A Announcements

Slide 9: We Are Executing Our Plan Rapidly with Several Strategic Acquisitions

Slide 10: HOA Accelerates Porch's Insurance Expansion by Many Years

Slide 11: HOA + Porch Well-Positioned to Become an InsurTech Winner

Slide 12: V12 Dramatically Expands Porch's Mover Marketing Business

Slide 13: V12 + Porch Well-positioned to Lead in Mover Marketing

Slide 14: HOA & V12 Deal Summary

Slide 15: PalmTech & iRoofing Overview

Slide 16: These Acquisitions Have Expanded Our U.S. Total Addressable Market by Almost $100B

Slide 17: Updated 2021 Outlook

Slide 18: 2021 Revenue Now Expected to be $170M (>134% YoY Growth)

Slide 19: 90% of 2021E Revenue Expected to be Recurring or Reoccurring

Slide 20: We are Investing, While Showing Strong Annual Improvements in Adjusted EBITDA %

Slide 21: Summary: Porch expected to grow 134% YoY in 2021

Slide 22: Thank you