ALDL FINA : Q2 2022 Investor Presentation

Q2

Speakers:

McKeel Hagerty | Chief Executive Officer Frederick J. Turcotte | SVP & Chief Financial Officer

FORWARD-LOOKING STATEMENTS / NON-GAAP FINANCIAL MEASURES

This presentation contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Forward-looking statements include all statements that are not historical facts. These forward- looking statements reflect our current expectations and projections with respect to our expected future business and financial performance, including, among other things: (i) expected operating results, such as revenue growth and increases in earned premium; (ii) changes in the market for our products and services; (iii) our plans to expand market share, including planned investments and partnerships; (iv) anticipated business objectives; and (v) the strength of our business model. These statements may be preceded by, followed by, or include the words "aim," "anticipate," "believe," "estimate," "expect," "forecast," "future," "goal," "intend," "likely," "outlook," "plan," "potential," "project," "seek," "target," "can," "could," "may," "should," "would," "will," the negatives thereof and other words and terms of similar meaning. A number of factors could cause actual results or outcomes to differ materially from those indicated by these forward- looking statements. These factors include, but are not limited to: (i) our ability to compete effectively within our industry and attract and retain members; (ii) our dependence on a limited number of insurance distribution and underwriting carrier partners; (iii) our ability to prevent, monitor and detect fraudulent activity, including our reliance on a limited number of payment processing services; (iv) disruptions, interruptions, outages with our technology platforms or third-party services; (v) the limited operating history of some or our membership products and the success of any new insurance programs and products; (vi) adverse impacts

from the COVID-19 pandemic and current and future variants of the virus; (vii) manage the cyclical nature of the insurance business, including through any periods of recession, economic downturn or inflation; (viii) unexpected increases in the frequency or severity of claims; (ix) compliance with the numerous laws and regulations applicable to our business, including state, federal, and foreign laws relating to insurance and rate increases, privacy, the internet and accounting matters; (x) whether investors or securities analysts view our stock structure unfavorably, particularly our dual-class structure; (xi) the fact that we are a controlled company; and (xii) other risks and uncertainties indicated from time to time in documents we file or will file with the Securities and Exchange Commission (the "SEC"). The forward-looking statements herein represent our judgment as of the date of this release and we disclaim any intent or obligation to publicly update or review any forward-looking statement, whether as a result of new information, future developments, or otherwise. This presentation should be read in conjunction with the information included in our filings with the SEC and press releases. Understanding the information contained in these filings is important in order to fully understand our reported financial results and our business outlook for future periods. In addition, this presentation contains certain "non-GAAP financial terms". The non-GAAP measures are presented for supplemental informational purposes only. Reconciliations to the most directly comparable financial measure calculated and presented in accordance with GAAP are provided in the appendix to this presentation.

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YTD 2022 KEY HIGHLIGHTS

Total Revenue growth of 26%

Written Premium growth of 15%

Entered into a definitive agreement to acquire the remaining 60% of Broad Arrow Group (Marketplace for buying, selling and financing collector cars)

for $64.8 million in stock

State Farm partnership has moved into the testing phase and regulatory approval process; expect to begin activating 19,200 State Farm agents in the first half of 2023

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PROVEN TRACK RECORD OF PROFITABLE LONG-TERM GROWTH

Hagerty U.S. Auto Premium Growth vs. Industry Top 100	Hagerty U.S. Auto Loss Performance vs. Industry Top 100
		Hagerty U.S. Auto - CAGR 13.1%			Hagerty Loss Ratio - average = 38%
		Industry Top 100 - CAGR 4.3%			Industry Loss Ratio - average = 66%

Total Percentage Growth

288%

300

250

200

150

100

59%

50

0

2010

2011

2012

2013

2014

2015

2016

2017

2018

2019

2020

2021

Performance	80
70
Loss	60
Total	50
	40
	30
	20
	2010	2011	2012	2013	2014	2015	2016	2017	2018	2019	2020	2021

Sustained Growth 5X the Industry

Stable and Predictable Loss Performance well below Industry Average

Source: Hagerty Internal Data, S&P Global Market Intelligence (2022)

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BROAD ARROW GROUP ACQUISITION

• Marketplace represents a significant new growth opportunity for Hagerty
• Significant market opportunity demonstrated by ~300,000 cars transacting for ~$12 billion through Hagerty's insurance book over the last twelve months ended June 30, 2022
• Broad Arrow Group's business ramping up faster than anticipated due to strong execution and synergies from the strength of the Hagerty brand and platform
• • Insurance sales, insurance recapture/retention, HDC memberships, HG+S storage fees, media sales and owner/operator event revenue
• Proven leadership team with a strong cultural fit
• Expected to be immediately accretive in 2022
• The deal structure incentivizes, and aligns, the team over a five-year period through an all-stock transaction for the remaining 60% valued at $64.8 million

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