Slide 1: 2026 Investor Presentation
2026 Investor Presentation
Slide 2: Forward Looking Statements / Non-GAAP Financial Measures
FORWARD LOOKING STATEMENTS / NON-GAAP FINANCIAL MEASURES This presentation contains statements that constitute "forward-looking statements" within tolerances; (viii) execute Broad Arrow’s private sale, auction, and financing strategies; the meaning of the federal securities laws. All statements we p
Slide 3: I. Company Overview
I. Company Overview
Slide 4: Our Vision
Our Vision Creating a world where loved cars are driven, shared and enjoyed
Slide 5: "People take good care of their toys."
“People take good care of their toys.” Louise Hagerty
Slide 6: The Leading Brand for Auto Enthusiasts
The Leading Brand for Auto Enthusiasts Creating an Enthusiast-Centered Ecosystem Insurance: Protect Custom, specialized insurance for enthusiast vehicles Marketplace: Buy & Sell Trusted marketplace for buying and selling classic and collector cars Membership: Enjoy Affinity program with the world’s
Slide 7: Hagerty Summary Highlights
Hagerty Summary Highlights Leading specialty insurance provider and automotive brand for the GROWTH AND RETENTION vast collector car enthusiast ecosystem Recurring revenue model fueled by unique expertise in underwriting, servicing and monetizing collector cars $1,456M 88.7% >80 • Highly predictable
Slide 8: Unique Ecosystem to Authentically Engage with Passionate Enthusiasts
Unique Ecosystem to Authentically Engage with Passionate Enthusiasts Driving Engagement Across Every Mile of the Hagerty Experience – Our “Secret Sauce” Suite of Products and Services Help Enthusiasts .. While Constant Engagement Helps Build the Brand and Protect, Buy, Sell, and Enjoy… Feed the Hage
Slide 9: Compelling Financial Profile
Compelling Financial Profile $1,456 $1,200 Total $1,194 Total $1,000 Written $1,044 Revenue $907 Premium ($M) ($M)2 2023 2024 2025 2023 2024 2025 CAT Non-CAT $237 Hagerty 46.4% 39.3% Adjusted $124 41.5% $88 Re Loss 1.2% 5.6% 2.4% EBITDA1 Ratio 40.3% 40.8% 36.9% ($M) (%)3 2023 2024 2025 2023 2024 202
Slide 10: II. Investment Highlights
II. Investment Highlights
Slide 11: Why Hagerty
Why Hagerty • Visionary, founder-led leadership team with deep insurance expertise and diverse backgrounds • Attractive combination of i) Retained underwriting economics ii) Commission and fee-based MGA revenue iii) And synergistic membership, marketplace and other revenue • Robust and diversified o
Slide 12: High Quality Leadership Team
High Quality Leadership Team McKeel Hagerty Patrick McClymont Collette Champagne Russell (Russ) Page Diana Chafey Chief Executive Officer & Chief Financial Officer Chief HR Officer & Chief Information Officer Chief Legal Officer Chairman of the Board Chief Administrative Officer Mark Elliott Kenneth
Slide 13: Diversified Sources of Revenue
Diversified Sources of Revenue Total Revenue ($M) • Earned portion of written premiums that Hagerty Re has assumed Earned Premium under ~80%2 quota share reinsurance agreements with carrier partners • Gross commissions and fees earned from the underwriting, sale Commission and servicing of insurance
Slide 14: Omni-Channel Distribution Network Unlocks Target Market
Omni-Channel Distribution Network Unlocks Target Market Direct Distribution Channel 45% 55% Partnership Channel AGENCY & BROKER PARTNERS 32% Value proposition: Belonging, camaraderie, understanding, admiration, joy Value proposition: Enhance service, increase efficiency • Membership model drives sig
Slide 15: Durable and Consistent Mid-Teens Growth
Durable and Consistent Mid-Teens Growth Hagerty vs. Industry Top 1001 Total Hagerty vs. Peers 2020-2025 Hagerty PIF Count(M) U.S. Auto Written Premium Growth Median Total Revenue Growth2 3.0 700% 3.0M PIF count goal by 2030 25% 600% 23% 2.5 500% 2.0 16% 400% 1.5 300% 1.0 200% 0.5 100% 0.0 0% 3 4 Spe
Slide 16: Decades of Underwriting Drive Predictably Low Loss Ratios
Decades of Underwriting Drive Predictably Low Loss Ratios Hagerty MGA delivers consistent, high quality written premium growth Multi-dimensional first-party data advantage → Superior value proposition and innovative partnerships → Decades of claims data with 40,000 distinct makes/models in Hagerty V
Slide 17: Near and Medium-Term Initiatives at Inflection Point
Near and Medium-Term Initiatives at Inflection Point Near Term • Distribution relationship since 2022; agreement in place through 2030 Growth Engine • Alignment of interest via State Farm ~15% stake in Hagerty • 525k+ existing State Farm collector car policies moving to Hagerty platform by 2027 • St
Slide 18: Well Positioned to Capture Additional Market Share
Well Positioned to Capture Additional Market Share Niche, but large and underpenetrated, target market Source: Hagerty. Company reports based on aggregated data of various sources; 1 Per Facebook analytics, members who have expressed an interest in or “Liked” automobiles or associated interests. 2 P
Slide 19: Technology and Data Driving Superior Results
Technology and Data Driving Superior Results Industry-Leading Valuation Tool Powering Hagerty’s Ecosystem Today HISTORICAL DATA COLLECTION ⚫ 40+ years of proprietary collector car data ⚫ Detailed pricing data points across 48k+ collector car models ⚫ 300k+ 2025 collector car transactions observed CU
Slide 20: Underwriting Snapshot
Underwriting Snapshot ⚫ Our risk-bearing entity assumes risk from our capacity $1,194M $727M 2025 2025 partners via quota share reinsurance Net Written Net Earned Premium Premium ⚫ Core U.S. = 80% → moving to 100%1 ⚫ Canada = 50% ⚫ Steady increase in assumed premium over time given 39.3% 86.6% profi
Slide 21: Markel Partnership Evolution: Strategic Rationale
Markel Partnership Evolution: Strategic Rationale Markel is a leading global Hagerty assumes 100% of the risk Moving from ~2% fronting specialty insurance carrier in the U.S. book starting on a quota share fee scaling Dedicated carrier partner providing paper January 1, 2026 (previously risk reinsur
Slide 22: Hagerty Marketplace: Buy & Sell Platform for Auto Enthusiasts
Hagerty Marketplace: Buy & Sell Platform for Auto Enthusiasts Driving exceptional brand loyalty with multiple points of monetization 300K+ $17B 2025 Total Value Trading 2025 Collector Car Hands in Hagerty’s U.S. Transactions Observed Insurance Book $119M 119% 2025 Revenue from Live 2025 YOY Marketpl
Slide 23: 2026 Outlook
2026 Outlook Sustained Compounding Written Premium Growth of +15-16% 2026 OUTLOOK ($) 2025 RESULTS ($MM) LOW END HIGH END TOTAL WRITTEN PREMIUM $1,194 $1,373 $1,385 TOTAL REVENUE1 1,456 1,280 1,300 NET INCOME (Loss)2,3 149 (51) (41) ADJUSTED EBITDA4 237 236 247 1 Revenue guidance reflects the accoun
Slide 24: Meaningful Levers to Support High-Quality Growth
Meaningful Levers to Support High-Quality Growth 2026 KEY PRIORITIES 2030 AND BEYOND… Enthusiast+ TECHNOLOGY + ⚫ Launched in Q3 2025 on new IT Platform (Duck Creek) Dto deliver greater ⚫ Improving operational efficiencies DOUBLE POLICIES-IN-FORCE TO 3.0M EXPENSE EFFICIENCIES experiences and drive ma
Slide 25: Never Stop Driving.
Not Your Typical High Growth Insurance Company We offer an ecosystem that fuels enthusiasts’ passion while encouraging new and increased engagement in the automotive lifestyle Leading Brand for Unique Platform and Omni- Poised for Margin Expansion and Automative Enthusiasts Channel Presence to Engag
Slide 26: Appendix
Appendix
Slide 27: Markel Transaction: Accounting Implications
Markel Transaction: Accounting Implications Illustrative Accounting of $1K on Markel (Essentia) Paper + HDC Membership • Beginning 1/1/26, Hagerty began assuming 100% of the underwriting risk1 on policies written on Markel $ thousands Existing New • Normalized time period whereby earned paper premiu
Slide 28: Hagerty Re: Diversified Investment Portfolio
Hagerty Re: Diversified Investment Portfolio 12/31/2025 Investment Portfolio Key Highlights Asset-Backed States and Securities Municipalities 4% 4% • Healthy investment portfolio primarily comprised of investment Foreign grade fixed maturity securities 5% • Returns are achieved through executing an
Slide 29: Historical Income Statement
Historical Income Statement Year Ended $ in Thousands December 31, 2025 December 31, 2024 Revenue: Commission and fee revenue $486,376 $423,240 Earned premium, net 726,726 643,324 Marketplace revenue 119,199 54,549 Membership and other revenue 82,376 78,925 Net investment income 38,648 39,249 Net in
Slide 30: Historical Balance Sheet
Historical Balance Sheet As of December 31, $ in Thousands 2025 2024 Assets Total investments $731,142 $589,527 Cash and cash equivalents 160,177 104,784 Restricted cash and cash equivalents 138,823 128,061 Accounts receivable 96,205 84,763 Commissions receivable 28,904 20,430 Premiums receivable 18
Slide 31: Non-GAAP Reconciliations – Adjusted EBITDA
Non-GAAP Reconciliations – Adjusted EBITDA 1 Excludes interest expense related to the BAC Credit Facility, which is recorded within “Sales expense” in the Consolidated Statements of Operations. 2 Principally includes interest expense and changes in the value of the TRA liability, which totaled $32 m