Year-End 2025 Investor Presentation

1

Founded American Integrity in 2006

Previously served in leadership roles at American Modern, AIG, CNA and GE

Insurance Solutions

More than 40 years of insurance industry experience

BS, University of Evansville

Bob Ritchie

Founder & Chief Executive Officer

Joined American Integrity in 2009

Previously served as COO and in operational and managerial roles

Prior experience: leading an entrepreneurial venture

BS, DePaul University; MBA, Indiana University

Jon Ritchie

President

Joined the American Integrity Board in 2017 and became CFO in 2024

Previously served as

CFO of Sowell & Co.

Prior experience: Morgan Stanley and Colliers International

BS, Tulane University; MBA, Southern Methodist University

Ben Lurie

Chief Financial Officer

Co-founded American Integrity in 2006

Currently serves as a Managing Director

at Sowell & Co.

Prior experience: McKinsey & Co.

BA & BBA, University of Texas at Austin; Masters of Management, Northwestern University

David Clark

Chairman

Year Ended 12/31/25 vs Year Ended 12/31/24

422K

Policies In-Force(1)

vs. 356K 2024 (+19%)

$945M

Gross Premiums Written

vs. $768M 2024 (+23%)

$243M

Net Premiums Earned

vs. $182M 2024 (+33%)

$337M

Total Shareholders' Equity(1)

vs. $162M 2024 (+108%)

39%

Loss Ratio

vs. 48% 2024 (-9 ppts.)

64%

Combined Ratio

vs. 81% 2024 (-17 ppts.)

$105M

Adjusted Net Income

(2)

42%

Adjusted ROE(3)

vs. $40M 2024 (+165%)

vs. 27% 2024 (+15 ppts.)

Three Months Ended 12/31/25 vs Three Months Ended 12/31/24

422K

Policies In-Force(1)

vs. 356K 2024 (+19%)

$206M

Gross Premiums Written

vs. $238M Q4 '24 (-13%)

$59M

Net Premiums Earned

vs. $62M Q4 '24 (-4%)

$337M

Total Shareholders' Equity(1)

vs. $162M 2024 (+108%)

43%

Loss Ratio

vs. 52% Q4 '24 (-9 ppts.)

63%

Combined Ratio

vs. 89% Q4 '24 (-26 ppts.)

$22M

Adjusted Net Income (2)

vs. $8M Q4 '24 (+160%)

27%

Adjusted RO

E

(3)

vs. 21% Q4 '24 (+6 ppts.)

4

1. As of December 31, 2025.

2. Adjusted Net Income represents net income excluding net realized gains or losses on investments, stock compensation expense and certain non-recurring expenses, including those incurred in connection with our IPO, net of tax. See the non-GAAP reconciliation in the Appendix.

3. Adjusted Return on Equity represents Adjusted Net Income divided by Average Shareholders' Equity. See the non-GAAP reconciliation in the Appendix.

• Favorable policy retention trends and strong voluntary policy writings have resulted in 17% new

  voluntary policy growth during the year ended 12/31/25 compared to the prior year

• Total policy growth is even higher due to the Citizens takeouts in late 2024 and 2025

4Q 2025

3Q 2025

2Q 2025

1Q 2025

4Q 2024

75.1%

78.1%

81.5%

82.7%

82.8%

Quarterly Policy Retention Ratio Trends

Voluntary Policy Writings (000s)

104

89

+17%

FY 2024

FY 2025

Voluntary PIF (000s)

327

280

FY 2024

FY 2025

Total PIF (000s)

422

356

+19%

FY 2024

FY 2025

Twenty years of cultivating our distribution network has resulted in a strong market share position in the

Florida residential insurance marketplace, both in terms of voluntary writings and in-force policies/premium

New FL Voluntary Policies Written

Year Ended 12/31/2025

FL Residential Premium In-Force, $M

As of 12/31/2025

$406

$688

$544

$516

$472

$469

1. Safepoint

2. Monarch

3. Assurant

4. Kin

5. Security First

Other Public Peers

22. Heritage

$1,779

$1,630

$1,576

$1,271

$1,207

$1,199

$962

$961

$936

1. Slide

2. Florida Peninsula

3. Universal P&C

4. State Farm

5. HCI

6. Tower Hill

7. USAA

8. Frontline

9. Citizens

1. Citizens 389,157

2. Assurant 385,229

3. USAA 337,916

4. Frontline 295,747

5. HCI 257,454

6. Allstate 217,252

7. Progressive 216,252

8. Safepoint 213,110

9. Kin 162,306

Other Public Peers

22. Heritage 110,213

638,209

567,074

483,880

408,269

397,336

1. State Farm

2. Universal P&C

3. Slide

4. Florida Peninsula

5. Tower Hill

Other Public Peers

26. Slide 19,430

34. Heritage 7,703

36. HCI 6,313

88,016

84,052

81,907

65,633

63,370

59,075

50,970

47,803

1. Universal P&C

2. Frontline

3. American Modern

4. Progressive

5. USAA

6. Lemonade

7. Allstate

8. Kin

187,165

179,318

125,942

106,378

100,542

96,874

1. Assurant

2. Citizens

3. State Farm

4. Florida Peninsula

5. Tower Hill

6. QBE

#7 Among All Carriers

#3 Excl. Citizens/National Carriers

#6 Among All Carriers

#5 Excl. Citizens/National Carriers

#10 Among All Carriers

#7 Excl. Citizens/National Carriers

(1) Market data provided by the Florida Office of Insurance Regulation (https://floir.com/tools-and-data/residential-market-share-reports).

• Insurance Now Guidewire system

• Seamless API integrations

• Block-level granularity with in-house

programming

Our success is made possible by our core competencies built over two decades

• Longstanding independent agent relationships

• National carriers and agencies

• New construction home builder-affiliated

  agents

• Selective Citizens depopulations

• Founder-led since inception in 2007

• Battle-tested senior leadership team

• Deep Florida insurance expertise

• Differentiated capacity at the agency/zip/census block level

• Dedicated underwriters for top agencies

• Strong integration between underwriting and claims, product and sales

We have successfully and opportunistically pursued take-outs from Citizens but believe that opportunity is

greatly diminished going forward

•

Since October 2024, we capitalized on favorable market conditions to assume policies from Citizens that fit our underwriting

(both CAT and non-CAT) and profitability criteria

•

We assumed ~103k policies from Citizens between October 2024 and December 2025, representing ~$186M in assumed unearned premium, and we are pleased with how these policies are performing to date. 4Q '25 takeouts were modest, as we assumed ~8k policies, representing ~$21M in assumed unearned premium.

•

Given the decline in Citizens policy count from 1.4M(1) in September 2023 to 395K at year end 2025, we believe the takeout

opportunity has already been substantially realized for the industry

759

661

504

543

456

440

427

442

395

2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025

936

1,022

1,029

1,084

1,146

1,229

1,315

1,284

1,305

Citizens Policies In-Force, 000s (1)

1,472

(1) Citizens Property Insurance Corporation. Includes all policies in-force (residential, wind only, and commercial).

Our strong balance sheet and leading position in the stabilized Florida insurance market give us confidence

in our ability to capitalize on attractive, near-term organic growth opportunities

Strategic Expansion in GA, SC, NC

with Builder

Agents

Reduction of Non-Cat Quota Share

Strong Florida Voluntary Policy Writing And Renewal Trends

Florida Introduction of Commercial Residential

Florida Expansion into Tri-County

Opening Capacity for Middle-Aged Homes

The newly stabilized litigation environment has made it desirable to write business in the Tri-County(1),

which we have limited since 2013 until the takeouts of 4Q 2024 and 2025

Tri-County

Currently 7% of American Integrity's Policies-

In-Force vs 28% of Florida population(2)

Immediate market penetration through robust national partners relationships and homebuilder aligned agencies

Provides PML benefits short term and allows for additional growth in other areas of the state over time

The newly stabilized litigation environment has made it desirable to insure middle-aged roofs, whereas

during the roof crisis we emphasized new homes with new roofs

Middle-Aged Roofs

In response to the litigation crisis, AII reduced

middle-aged roof exposure from 76% to 26%(1)

The 2022 reforms have made middle-aged

roofs attractive again

Our longstanding relationship with our independent agents and our robust technology platform allow us to execute this plan quickly

AII has been preparing to enter the commercial residential insurance market for over a year.

Florida Commercial Residential

Admitted market for commercial residential in Florida is estimated to be $1.7B of premium(1)

Assumed $5.9MM of unearned premium in our 4Q Citizens takeout

First voluntary writings began in 4Q 2025

AII has the opportunity to further drive revenue and net earned premium by reducing its reliance on non-cat

quota share to 25% beginning 2026, below the 40% level previously

Reducing Non-Cat Quota Share

Ceded 40% of non-cat premiums to quota share partners in fiscal year 2025

Reduce that ceding rate to 25% for fiscal year 2026

Reducing non-cat quota share expected to increase our revenues and drive earnings

Our deep relationship with our builder affiliated agencies has provided us with disciplined growth

opportunities outside of our core Florida market.

Strategic Regional Expansion

Supports and deepens our builder affiliated

agency relationships

Recently surpassed 20K in-force policies in

SC as of 12/31/2025

Writings in NC commenced in January 2026

Our strategic reinsurance program is key to our risk management philosophy

Reinsurance Philosophy

1

Reduce

earnings

volatility

2

Enhance

capital

management

3

Limit

exposure to

CAT events

4

Protect

capital

Excess of

Loss ("XOL")

Our Risk Management Strategy Includes Multiple Types of Reinsurance:

• Reinsurer assumes all or portion of losses for an individual claim or event in excess of specified amount

• Utilized for catastrophe protection with multiple prepaid reinstatements

  CAT Bonds • Collateralized catastrophe bonds placed in the private markets to protect against named storms in Florida

  Non-CAT

  Quota Share

• Reinsurer assumes a specified percentage of losses for defined class of business

• Utilized for non-catastrophe and flood-related losses

  Captive

  Reinsurance

  Per Risk & Facultative

• Utilize captive to optimize profitability given uneconomic cost of XOL reinsurance at low limits

• Improves financial flexibility and capital management

• Cover individual risks as opposed to group or class of business

• Provides coverage for non-catastrophe losses from individual policies in excess of $1M

We regularly assess and realign our reinsurance structure to optimize the effectiveness of our program

J

Sophisticated and conservative all-peril catastrophe XOL coverage to mitigate retained property losses

First event

$1,968M

$1,401M

H

Integrity

Re

2025 CL B-1

Integrity Re 2025 CL A-1

Integrity Re 2025 CL A-2

$1,937M

I

Integrity

Re

2025 CL B-2

$1,668M

$1,378M

$1,531M

K

Second event

$1,093M

Integrity Re

2024-1 CL B

$1,093M

$954M

$790M

Florida Hurricane Catastrophe Fund

$758M

$272M

$210M

$90M

B

$35M

A

American Integrity Retention

$10M

E

F

Integrity Re 2024-1 CL C

Integrity Re

2024-1 CL D

C

$982M

$963M

$656M

$517M

$353M

$210M

$90M

$35M

$10M

A Compelling Investment Opportunity

American Integrity combines deep Florida expertise, management continuity and an impressive track record

of operating in the stater with a large organic growth opportunity in the stabilized Florida market

17

1. Federal Reserve data https://fred.stlouisfed.org/series/FLPOP; U.S. Census Bureau data https://www.census.gov/quickfacts/fact/table/FL/PST040224

2. Capital growth includes increases in book value plus profit distributions to shareholders.

3. Adjusted ROE represents Adjusted Net Income divided by Average Shareholders' Equity. See Appendix for non-GAAP reconciliation.

Appendix