BRP : Partnership Announcement Conference Call

This presentation shall not constitute an offer to sell or the solicitation of an offer to buy any securities.

This presentation contains forward-looking statements. You should not rely upon forward-looking statements as predictions of future events. All statements other than statements of historical facts contained in this presentation, including information concerning our possible or assumed future results of operations and expenses, business strategies and plans, competitive position, business and industry environment and potential growth opportunities, including such information concerning the two Partnerships described in this presentation, are forward-looking statements. Forward-looking statements involve known and unknown risks, uncertainties and other factors that may cause our actual results, performance or achievements to be materially different from any future results, performance or achievements expressed or implied by the forward-looking statements, including those factors relevant to our integration of these Partnerships, matters assessed in our due diligence, the business, financial condition and results of operations of BRP Group or these Partners, or both, and factors related to the potential effects of the COVID-19 pandemic on our business, financial condition and results of operations. Given these uncertainties, you should not place undue reliance on any forward-looking statements in this presentation. Except as required by law, we disclaim any obligation to update any forward-looking statements for any reason after the date of this presentation, or to update the reasons why actual results could differ materially from those anticipated in the forward-looking statements, even if new information becomes available in the future.

Transaction summary

• On June 1, 2020, BRP announced two new partnerships representing an aggregate $36.1mm of annualized acquired revenue(1)

• Brings 2020YTD acquired revenue to $78mm(1)

• Cash consideration funded with cash on hand and BRP's existing revolving credit facility

• Post announcements, BRP continues to be in a strong financial position

  • Pro forma unrestricted cash and borrowing capacity: over $100mm

  • Pro forma net leverage: 2.96x

Rosenthal Brothers Insurance

• Annualized acquired revenue: $18.8 million(1)

• Specializes in large habitational real estate industry well insulated from COVID-19

• Meaningfully expands Middle Market presence in Chicago MSA

• Experienced management team with risk advisor average age of 44 compared to the industry average age of 54(2)

• Revenue synergies with MGA of the Future

Trinity Benefit Advisors / Russ Blakely Associates ("TBA / RBA")

• Annualized acquired revenue: $17.3 million(1)

• Provides immediate scale and platform for expansion in Tennessee, one of the fastest growing states in the U.S.

• Client base predominantly in TN and broader Southeast region, where the impacts of COVID-19 have thus far been less severe and economies are more rapidly reopening

• Experienced management team and risk advisor base with strong reputation in TN marketplace and average age of 49 compared to the industry average age of 54(2)

• BRP's product suite and industry expertise presents meaningful cross-sell opportunities

• (1)Calculated as revenue attributable to acquired businesses for the most recent 12-month period evaluated based on Quality of Earnings review

• (2)According to the 2018 Future One Agency Universe Study

• Rosenthal Brothers is a leading middle market agency in Chicago, IL with specialty expertise in the habitational real estate industry

• Leadership team is highly experienced - five partners have an average tenure of 19 years with the company

• Strong focus on cultivating talent has yielded successful risk advisor base with an average age of 44 compared to the industry average age of 54(1)

• Real estate focused client base provides revenue synergies via increased distribution of MGA of the Future renters product

By the Numbers

Note: Numbers presented are approximations. Industry breakdown is an estimate.

• (1)According to the 2018 Future One Agency Universe Study

• (2)Based on Quality of Earnings Review

• (3)Based on Quality of Earnings Review; represents commercial revenue excluding profit share; "Other" includes nonprofit, manufacturing, distribution, contracting/development, healthcare and technology

2019 Estimated Revenue by Industry(3)

• Trinity Benefit / Russ Blakely is a leading provider of employee benefits consulting & brokerage services to upper middle market and large clients in attractive MSAs in Tennessee and broader Southeast region of the U.S.

• Highly experienced leadership team

• Risk Advisor base has an average age of 49 compared to the industry average age of 54(1), is highly productive (average book size >2x industry average) and carries a strong reputation in the Tennessee and broader Southeast marketplace

• BRP's more comprehensive product suite and niche industry expertise presents meaningful cross-sell opportunities into TBA / RBA's large account commercial client base

By the Numbers

2019 Estimated Revenue by Industry(3)

Other

Note: Numbers presented are approximations. Industry breakdown is an estimate.

• (1)According to the 2018 Future One Agency Universe Study

• (2)Based on Quality of Earnings Review

• (3)Based on Quality of Earnings Review; industry breakdown is an estimate