Security National Financial Corporation · NASDAQ:SNFCA
Security National Financial — Q2 2026 Earnings Presentation
80 slides from Security National Financial's earnings presentation, Aug 13, 2026
Slide 1: 2026 Annual Shareholder's Meeting
2026 Annual Shareholder’s Meeting S E C U R I T Y N AT I O N A L F I N A N C I A L C O R P O R AT I O N
Slide 2: Alexandra Mysoor
Alexandra Mysoor Director of the Company Since 2021 Founder and Chairwoman of Mysoor Industries Executive Producer and Host of The Alexandra Mysoor Show
Slide 3: John L. Cook
John L. Cook Director of the Company Since 2013 Co-Owner & Operator Cook Brothers Painting, Inc. Director Nominating and Corporate Governance Committee Compensation Committee
Slide 4: Gilbert A. Fuller
Gilbert A. Fuller Director of the Company Since 2012 Former Chief Financial Officer at USANA Health Sciences, Inc. Audit Committee Compensation Committee Executive Committee Nominating and Corporate Governance Committee
Slide 5: Robert G. Hunter M.D.
Robert G. Hunter M.D. Director of the Company Since 1998 Department Head - Otolaryngology, Head and Neck Surgery at Intermountain Medical Center Compensation Committee Nominating and Corporate Governance Committee Medical Committee
Slide 6: H. Craig Moody
H. Craig Moody Director of the Company Since 1995 Owner of Moody & Associates Audit Committee Compensation Committee Executive Committee Nominating and Corporate Governance Committee
Slide 7: Jason G. Overbaugh
Jason G. Overbaugh Vice President National Marketing Director of Life Insurance President - Real Estate Services Group Director of the Company Since 2013
Slide 8: S. Andrew Quist
S. Andrew Quist President – Mortgage Company Vice President of the Company Since 2010 Director of the Company Since 2013 General Counsel Executive Committee
Slide 9: Adam G. Quist
Adam G. Quist President – Life Insurance President – Memorial Services Assistant Secretary General Counsel Director of Company Since 2021
Slide 10: Garrett S. Sill
Garrett S. Sill Chief Financial Officer Treasurer Certified Public Accountant 401k Investment Committee Non-Qualified Differed Compensation Plan Committee
Slide 11: Jeffrey R. Stephens
Jeffrey R. Stephens Secretary Senior General Counsel 401k Trustees Committee
Slide 12: Security National Family of Companies
Security National Family of Companies Aon om
Slide 13: 2026 Annual Report
2026 Annual Report S E C U R I T Y N AT I O N A L F I N A N C I A L C O R P O R AT I O N
Slide 14: Garrett Sill – Financial Report
Garrett Sill FINANCIAL REPORT
Slide 15: Net Earnings
Net Earnings $25M 4-Year Average $35 $30 $32 $25 $26 $29 $20 $15 $10 $14 $5 $- In millions 2022 2023 2024 2025
Slide 16: Net Earnings – 20 Year Lookback
Net Earnings – 20 Year Lookback Average Annual Net Earnings $30 $28 $25 $23 $20 $15 $10 $9 $5 $2 $- 2006-2010 2011-2015 2016-2020 2021-2025 In millions
Slide 17: Revenues
Revenues $347M 4-Year Average $400 $350 $390 $300 $345 $318 $335 $250 $200 $150 $100 $50 $- In millions 2022 2023 2024 2025
Slide 18: Assets
Assets 7% Increase $1,580 $1,560 $1,562 $1,540 $1,520 $1,500 $1,480 $1,460 $1,440 $1,461 $1,420 $1,400 In millions 2022 2025
Slide 19: Investment Diversification
Investment Diversification 2022 Total Investments 2025 Total Investments $1.2 billion $1.3 billion Cash and equivalents Cash and equivalents Stocks Stocks 1% 1% Mortgages Mortgages 12% 8% 12% 10% Real estate, net Real estate, net 25% Other loans, net 29% Other loans, net 30% 26% Bonds Bonds Loans He
Slide 20: Equity
Equity 40% Increase $450 $400 $350 $410 $300 $293 $250 $200 $150 $100 $50 $- In millions 2022 2025
Slide 21: OCI & AOCI – 2026 (in millions)
OCI & AOCI – 2026 (in millions) 2025 Post LDTI – Other Comprehensive 2024 Post LDTI – Other Comprehensive Income Income Unrealized gains - bonds 10.00 Unrealized losses - bonds (.11) Unrealized gains – restricted assets .06 Unrealized gains - restricted assets .001 Unrealized gains – cemetery trusts
Slide 22: Summary
Summary YE 2024 Restatement YE 2025 Results - Deferred Acquisition Costs - Total assets $1.6B (DAC) increased $4.5M - Reserves increased $45.4M - Reserves decreased $49.9M - Equity increased $28.5M - Equity increased $43.1M - Net earnings $32.2M - Net earnings increased $2.5M
Slide 23: 1st Quarter Net Earnings
1st Quarter Net Earnings $8 $7.48 $7.00 $7 $6.41 $6 $5 $4 $3 $2 $1.24 $1 $- SNFC In millions 2023 2024 2025 2026
Slide 24: Other Items of Note
Other Items of Note Russell 3000 Cutoff for membership $149.4M ($119.4M 2025) Reconstitution (4th Friday in June) – Today, June 26th Semi-annual reconstitution (November) Stock Repurchases – 7 years 1,000,000 Class A shares – Completed in Q2 142,000 per year
Slide 25: Accounting Pronouncements & More
Accounting Pronouncements & More Implemented ASU 2018-12 Targeted improvements to long duration contracts (2025) – LDTI Accelerated filing status Enhanced Internal controls (business processes and IT general controls) Upcoming ASU 2024-03 Disaggregation of Income Statement Expenses ASU 2025-11 Inter
Slide 26: Adam Quist – Insurance Companies
Adam Quist I N S U R A N C E C O M PA N I E S
Slide 27: What We Sell & Why We Sell It
WHAT WE SELL & WHY WE SELL IT The opening Core product purpose A life policy to pay for a person's funeral A simple product with an important purpose: giving families the funds to pay for a funeral and protecting loved ones from an unexpected financial burden. Two motivations drive nearly every poli
Slide 28: How We Fund A Policy
HOW WE A POLICY We fund small face value insurance policies with the primary purpose of covering a person’s funeral costs. Our Three Distribution Channels: Preneed Insurance 1 Insurance sold in conjunction with funeral planning that is designed to fund specific funeral and burial expenses arranged b
Slide 29: Understanding Our Three Sales Channels
DISTRIBUTION CHANNELS FY 2025 · by channel As of 12/31/2025 Understanding Our Three Sales Channels Preneed Final Expense Home Service AVG. ISSUE AGE AVG. ISSUE AGE AVG. ISSUE AGE 67.3 yrs 56.6 yrs 43.6 yrs AVG. FACE AMOUNT AVG. FACE AMOUNT AVG. FACE AMOUNT $5,503 $12,370 $11,132 ≈ 47% of 2025 sales
Slide 30: 2025 GAAP Net Income
2025 GAAP Net Income GAAP Net Income Before Taxes Best Operational Year in $40,000,000 Our Life Companies' History $37,351,742 $34,725,889 $35,000,000 Earnings increased 8% $30,000,000 Revenues Increased 5% $25,000,000 Premiums Stable $20,000,000 Net Investment Income Up 12% $15,000,000 Total Policy
Slide 31: GAAP Net Income Comparison
GAAP Net Income Comparison Q1 GAAP Net Income Before Taxes Q1 Operational Insights $9,000,000 $8,006,806 $8,000,000 $7,601,286 $7,000,000 Earnings Decreased ~5% $6,000,000 $5,000,000 Revenues Decreased 3.4% Premiums Down 3.1% $4,000,000 Net Investment Income Down 4.9% $3,000,000 $2,000,000 Total Pol
Slide 32: GAAP Net Income Comparison
GAAP Net Income Comparison Q1 GAAP Net Income Before Taxes Q1 Revenue Insights $9,000,000 $8,006,806 $8,000,000 $7,601,286 Revenues Decreased 3.4% $7,000,000 $6,000,000 Premiums Down 3.1% o ~60% of this decline is from $5,000,000 our lowest margin products $4,000,000 o Significant Restructuring $3,0
Slide 33: Preneed: A Year of Change
PRENEED DIVISION · A YEAR OF CHANGE ≈ 47% of total premium Largest distribution channel Preneed: A Year of Change Rebuilding for long-term growth ~75% turnover among senior sales leadership entering 2026 — Repositioned, not deteriorated clearing the way for a stronger team. Sales declined 6.2%, but
Slide 34: Meet the Sales Leadership Team
PRENEED DIVISION · LEADERSHIP Rebuilt for 2026 Senior sales leadership Meet the Sales Leadership Team Kevin Sam Hannah Senior Vice President of Preneed Senior Vice President of Director of CRM & Business Development Aftercare Strategy Jarod Leo David Director of Preneed Sales Senior Regional Directo
Slide 35: Jason Overbaugh – Insurance Companies
Jason Overbaugh I N S U R A N C E C O M PA N I E S
Slide 36: 2025 Core Product Sales Review
SECURITY NATIONAL LIFE 2025 Core Product Sales Review A look at our core life insurance business — full-year performance, the three distribution channels, and the strategy carrying us into 2026. Fiscal Year 2025 · As of December 31, 2025
Slide 37: A Year of Change, Not Deterioration
2025 PERFORMANCE OVERVIEW Total company · Annualized premium As of 12/31/2025 A Year of Change, Not Deterioration Performance by Sales Channel $20.4M 21,963 Preneed $9.5M ▼ 6.2% Annualized premium submitted in Policies submitted in 2025 2025 Final Expense $7.5M ▼ 7.1% ▼ 3.8% vs. PY ▼ 0.3% vs. PY Hom
Slide 38: Becoming Indispensable to Our Funeral Home Partners
STRATEGY · VERTICAL INTEGRATION Beyond insurance products Deepening partner integration Becoming Indispensable to Our Funeral Home Partners Historically, our relationship with funeral homes centered on products and agents. Today we're building something much broader. Customer relationship Aftercare
Slide 39: What Is Aftercare — and Why It Matters
PRENEED DIVISION · AFTERCARE PROGRAM What Is Aftercare — and Why It Matters WHAT IT IS A simple, caring touchpoint after the service — funeral homes stay connected with the families they've served, check in on them, and invite feedback. Value on both sides For Funeral-Home Partners For Security Nati
Slide 40: Aftercare Program Results
PRENEED DIVISION · PROGRAM UPDATE First five months of 2026 As of 5/31/2026 Aftercare Program Results In just five months, Aftercare reached thousands of families — driving response, leads, and reviews far beyond traditional outreach. RESPONSE RATE 2,386 157 268 34.6% Families reached Qualified pren
Slide 41: Final Expense: Rebuilt for Growth
FINAL EXPENSE DIVISION $7.5M premium · ≈ 37% of total Three years of rebuilding Final Expense: Rebuilt for Growth What we rebuilt over three years 2025 Upgraded leadership Underwriting discipline $7.5M Stronger leaders driving the Tighter standards and better ▼ 7.1% vs. PY in 2025 division. risk sel
Slide 42: Built in 2025 to Grow Sales
FINAL EXPENSE · NEW DIGITAL TOOLS IN 2025 Built in 2025 to grow sales Final Expense distribution Text 2 Sign & Point-of-Sale Platform New tools developed in 2025 to grow sales. Agents complete applications electronically — in the home or over the phone — and capture signatures instantly. Text 2 Sign
Slide 43: Home Service: Our Fastest-Growing Channel
HOME SERVICE DIVISION A 2025 bright spot ≈ 16% of sales Home Service: Our Fastest-Growing Channel What makes Home Service unique Relationships, not transactions Agents and policyholders interact over many years — not a single sale. FASTEST-GROWING CHANNEL +13.5% High-touch and personal Frequent, car
Slide 44: Looking Ahead
STRATEGIC OUTLOOK Positioned for growth Strategy into 2026 and beyond Looking Ahead Necessity-based demand Rebuilt Preneed leadership Deeper funeral-home integration Death care remains a stable, recession-resilient A renewed team focused on accountability and Technology, training, aftercare, and eng
Slide 45: 2025 Portfolio Review
SECURITY NATIONAL SHAREHOLDERS MEETING 2025 Portfolio Review Real Estate & Commercial Capital Group Fiscal Year Ended December 31, 2025 Real Estate Portfolio Commercial Lending 2025 Results & Yields
Slide 46: 2025 Portfolio Summary
Security National Real Estate Shareholders Meeting Fiscal Year Ended Dec 31, 2025 2025 PORTFOLIO SUMMARY O U R AS S E T S Our real estate portfolio provides a stable hedge against inflation through long- 2025 PERFORMANCE 16.8% term leases with built-in rent increases. A diversified group of quality
Slide 47: 2025 Commercial Capital Results
2025 Commercial Capital Results SECURITY NATIONAL COMMERCIAL CAPITAL 2 0 2 5 O R I G I N A T I O N S & L AN D I N V E S T M E N T S ( $ M ) PORTFOLIO & INCOME $236.6M Residential Construction 197 TOTAL LOAN BALANCE Residential Land Investment 73 Commercial Bridge 53 $31.7M 9.8% GROSS INVESTMENT INCO
Slide 48: Investment Types & Yields
Investment Types & Yields SECURITY NATIONAL COMMERCIAL CAPITAL Residential Construction Commercial Bridge & SBA 504 First-lien construction, land, and development loans. Fast closings on commercial real estate, with a U.S. government guarantee backstop on SBA 504 paper. 31 289 414 9.75% 9.50% ACTIVE
Slide 49: Positioned for Durable Growth
Positioned for Durable Growth IN SUMMARY Real Estate Commercial Capital Shareholder Value A 16.8% cash-on-cash return on a A $236.6M loan portfolio at a 9.8% Built-in rent growth, disciplined stable ~$164M portfolio of high- net yield, with benefits of SBA-backed leverage, and repeat relationships q
Slide 50: Jamie Meredith – Insurance Assignment Investments
Jamie Meredith INSURANCE ASSIGNMENT INVESTMENTS
Slide 51: Life Insurance Assignments / Fast Funding
Life Insurance Assignments or FAST FUNDING®
Slide 52: Deaths in the U.S. for Past 10 Years
Deaths in the U.S. for Past 10 Years 4,000,000 3,464,235 3,500,000 3,383,729 3,273,705 3,090,964 3,089,996 3,071,073 * 3,000,000 2,854,838 2,500,000 2,000,000 1,500,000 1,000,000 500,000 0 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025
Slide 53: Life Insurance Ownership Rates
Life Insurance Ownership Rates 80% 70% 68% 63% 57% 60% 54% 52% 50% 52% 51% 51% 50% 40% 30% 20% 10% 0% 2004 2011 2019 2020 2021 2022 2023 2024 2025
Slide 54: Cremation Rate in the U.S.
Cremation Rate in the U.S. 70% 63% 62% 61% 59% 60% 58% 56% 55% 53% 52% 50% 50% 40% 30% 20% 10% 0% 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025
Slide 55: 2025 Investment Results
2025 Investment Results Total Fundings • 58,042 Cases (4% increase over 2024) • $496,731,209 (6% increase over 2024) Net Investment Income • $5,244,459 (14.3% increase from 2024) Receivables • $46,482,763 (4.6% decrease over year end 2024)
Slide 56: Q1 - 2026 Investment Results
Q1 - 2026 Investment Results Total Fundings • $129,038,109 (4.8% decrease over Q1-2025) • 15,018 Cases (6.7% decrease over Q1-2025) Net Investment Income • $1,426,833 (12.1% decrease from Q1-2025) Receivables • $46,570,779 (8.7% decrease over Q1-2025)
Slide 57: Steven Kehl – Funeral Homes & Cemeteries
Steven Kehl FUNERAL HOMES & CEMETERIES
Slide 58: Our Why
Our Why We are committed to honoring every life by providing peace of mind, compassionate care, and dignified support, both as they prepare for and experience end-of-life events.
Slide 59: Who We Are
Who We Are 199 Employees 15 Funeral Homes 7 Cemeteries
Slide 60: 2025 Financial Highlights
2025 Financial Highlights Funeral Homes Revenue vs. Adj. Net Income Before Tax $33.36M $33.66M • Revenue grew by 3.98% $35M • Cared for 2,606 families, up 0.3% • Average $/Call grew by $171, or 3.5% $25M • Cremation rate 51.9%, up from 49.9% Amount (USD) • Cremation with Service 41.5%, up from 37.9%
Slide 61: Q1 2026 Financial Highlights
Q1 2026 Financial Highlights Mortuaries Revenue vs. Adj. Net Income Before Tax • Revenue decreased by 0.1% $10M $8.20M $8.56M • Cared for 664 families, decreased by 6.7% • Avg $/Call grew $332, or 6.6% $7.5M • Cremation rate 49.7%, down from 50.4% • Cremation with Service 48.8%, up from 39.8% $5M Ce
Slide 62: Aaron Butler
Our Goal is Growth Aaron Butler SVP of Growth • Experience in growth leadership and revenue strategy • Proven record of driving revenue growth in scaling organizations • Deep expertise in CRM platforms • Refining digital sales funnel optimization
Slide 63: Our Motto is Excellence
Our Motto is Excellence For the third consecutive year, we have won BOTH the Mortuary Services category and the Cemeteries category.
Slide 64: 2026 Initiatives
2026 Initiatives 1 2 Build a Culture of Operational & Grow Preneed Cemetery Sales Service Excellence 3 4 Realize Operational Efficiencies Seek Investment Opportunities
Slide 65: 2025 Leadership Summit
2025 Leadership Summit
Slide 66: Andrew Quist – Mortgage Company
Andrew Quist M O R T G A G E C O M PA N Y
Slide 67: Turning Houses Into Homes
Turning Houses Into Homes 6,844
Slide 68: Existing-Home Sales Continue to Decline
Existing-Home Sales Continue to Decline
Slide 69: Industry Origination Volume Increased in 2025, But…
Industry Origination Volume Increased in 2025, $2,500 But… $2,050 $2,000 $1,685 $1,500 $1,338 $1,356 $1,000 $694 $500 $348 $- Total Originations Purchase Mortgage Originations Refinance Mortgage Originations 2024 2025
Slide 70: 2025 Origination Volume
2025 Origination Volume • SecurityNational’s origination volume in 2025 was $2.3 billion, flat from 2024. • Nationwide originations were up approximately 21% year over year. Purchase volume up Refinance volume 1% up 99%
Slide 71: 2026 Q1 Origination Volume
2026 Q1 Origination Volume SecurityNational’s origination volume in the first quarter was $490 million, down 9% from the fourth quarter of 2025. Nationwide originations were down 6% from the fourth quarter of 2025. Year-over-year, SecurityNational’s origination volume was down 6% from the first quar
Slide 72: SecurityNational 2026 Q1 Refinance Volume
SecurityNational 2026 Q1 Refinance Volume $200 22.3% Millions 25.5% $180 $160 Q1 2026 24.2% $140 25.3% Q1 2025 14.2% $120 $100 $80 $60 $119 M $153 M $40 $96 M Refinance $20 $32.9 M $41.1 M $44.2 M Purchase $0 JAN FEB MAR
Slide 73: SecurityNational Market Share
SecurityNational Market Share SNMC Market Share (% of Total Originations) 0.200% 0.180% 0.174% 0.165% 0.160% 0.145% 0.146% 0.141% 0.137% 0.140% 0.130% 0.132% 0.129% 0.123% 0.120% 0.126% 0.122% 0.120% 0.115% 0.098% 0.100% 0.080% 0.060% 0.040% 0.020% 0.000% 2010 2011 2012 2013 2014 2015 2016 2017 2018
Slide 74: SecurityNational Market Share
SecurityNational Market Share SNMC Market Share (% of Total Originations) 0.200% 0.180% 0.174% 0.165% 0.160% 0.145% 0.146% 0.149% 0.141% 0.137% 0.136% 0.140% 0.130% 0.123% 0.120% 0.126% 0.122% 0.120% 0.115% 0.112% 0.098% 0.100% 0.080% 0.060% 0.040% 0.020% 0.000% 2010 2011 2012 2013 2014 2015 2016 20
Slide 75: Financial Results
Financial Results Annual Comparison Quarterly Comparison 2025 2024 Variance % Q1 2026 Q1 2025 Variance % (Full Year) (Full Year) Revenue $110,001,000 $109,971,000 0% $23,926,000 $25,334,000 -5.6% Pre-tax Net -$4,761,000 -$6,213,000 23.4% -$698,000 -$1,995,000 65% Income (Loss) In 2025, Office Salari
Slide 76: SecurityNational 2025 Public Company Comparison
SecurityNational 2025 Public Company Comparison Net Production Income (bps) 2025 YOY Orig.Vol. Q1 Sequential Orig.Vol. SecurityNational -20 0% -9% Guild Non-Public Non-Public Non-Public (GHLD) Prime Lending -20 3% -18% (HTH) loanDepot -41 8% -5% (LDI)
Slide 77: Scott Quist – President's Report
Scott Quist PRESIDENT’S REPORT
Slide 78: Reports Financial Results for Year Ended December 31, 2025
SECURITY NATIONAL FINANCIAL CORPORATION REPORTS FINANCIAL RESULTS FOR THE YEAR ENDED DECEMBER 31, 2025 FOR IMMEDIATE RELEASE March 16, 2026 SALT LAKE CITY - Security National Financial Corporation (SNFC) (NASDAQ symbol "SNFCA") announced financial results for the year ended December 31, 2025. For th
Slide 79: Reports Financial Results for Quarter Ended March 31, 2026
SECURITY NATIONAL FINANCIAL CORPORATION REPORTS FINANCIAL RESULTS FOR THE QUARTER ENDED MARCH 31, 2026 FOR IMMEDIATE RELEASE May 11, 2026 SALT LAKE CITY - Security National Financial Corporation (SNFC) (NASDAQ symbol "SNFCA") announced financial results for the quarter ended March 31, 2026. For the
Slide 80: Thank You
Security National Family of Companies © © Thank You
Security National Financial — Q2 2026 Earnings Presentation on 6ix