Ethos Technologies Inc.

GLOSSARY OF TERMS

We provide this glossary to help those reading this Quarterly Report on Form 10-Q ("Quarterly Report") understand the industry and other technical terms that are used in this Form. For many of these terms, there is no generally accepted definition; in this glossary, we present our definition of such terms as used in this Quarterly Report.

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Activated Policy: An insurance policy that was sold through our platform. Activated policies include insurance policies issued and sold to consumers who come to our platform directly as well as those sourced through third-party channels. The number of activated policies does not include any Wills & Estate Planning products.

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Active Carriers: Carriers that issued at least one policy through our platform within the last 12 months and were continuing to offer products through our platform as ofthe reporting period of this form.

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Agent Debt: We typically advance to agents a portion of the commissions we expect to earn on a policy at the time the policy is activated. When a policy lapses before the advanced compensation has been earned, the unearned portion of that advance becomes an amount owed to us, which we refer to as agent debt.

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Active Selling Agents: Agents who have activated a policy through our platform within the last 12 months.

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Agencies: Independent insurance agencies that are not owned or operated by us but use our platform to sell insurance products. These agencies employ, or contract with, agents who engage with consumers and submit applications through our platform.

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Agent Payments: Amounts paid by us to agents or agencies in connection with both policy sales and sale referrals made by such agents, or in the case of payments made to agencies, their affiliated agents, on our platform. We also refer to these amounts as agent compensation.

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Agents: Individuals licensed to sell insurance policies in the relevant jurisdiction, whether captive, independent, or affiliated with agencies, including those who sell insurance and related products through our platform.

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Carrier: A licensed insurance company.

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Commissions: The compensation paid by a carrier to us for an activated policy. Commissions are based on the annual premium of an activated policy and are typically paid throughout the life of the policy. The majority of a policy’s lifetime commissions are paid in the first year following activation.

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Commission Rates: The percentage of the policy premium in each policy year paid to us as commission. Commission rates are contractually defined with carriers and reviewed on an annual basis.

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Consumers: Individuals who apply for and purchase insurance and related products on our platform, either directly, or through our third-party channel.

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Persistency: The term “persistency” refers to how long activated policies remain active throughout their terms. Observed persistency for policies of a particular product type changes over time as activated policies are terminated prior to the end of their terms.

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Persistency Estimate: The term persistency estimate refers to a percentage estimating the likelihood that a currently activated policy will remain active throughout the policy’s term. We derive the persistency estimate for a policy using our observed persistency data applicable to that policy as well as relevant industry persistency data. We apply the persistency estimate for an activated policy when recognizing revenue from that policy, and we regularly review, and update as needed, persistency estimates as observed persistency applicable to that policy changes over time.

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Persistency Reserve Liability: The term persistency reserve liability represents cash commission amounts received in excess of revenue recognized related to certain insurance carrier partners pursuant to our contracts with these carriers.

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Third-Party Channel: Our external distribution network, which is composed of independent insurance agencies, their affiliated licensed agents, independent agents, third-party fintech companies, and other third parties that refer consumers to, or enable the sale of, insurance products through our platform.

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Underwriting Costs: The costs incurred throughout the underwriting process for both activated and non-activated policies, including costs associated with obtaining third-party evidences (such as prescription history, credit-based insurance scores and motor vehicle records), and, separately, costs related to post-issue audits.

CAUTIONARY NOTE REGARDING FORWARD-LOOKING STATEMENTS

This Quarterly Report contains forward-looking statements about us and our industry that involve substantial risks and uncertainties. All statements other than statements of historical facts contained in this Quarterly Report, including statements regarding our future financial condition or results of operations, business strategy and plans, and objectives of management for future operations are forward-looking statements. In some cases, you can identify forward-looking statements because they contain words such as “anticipate,” “believe,” “continue,” “could,” “estimate,” “expect,” “intend,” “may,” “plan,” “potential,” “predict,” “project,” “should,” “target,” “toward,” “will,” “would,” or the negative of these words or other similar terms or expressions. These forward-looking statements include, but are not limited to, statements concerning the following:

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our expectations regarding the premiums set by carriers and commission rates negotiated with carriers;

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the growth rate of the market in which we compete;

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our business plan and our ability to effectively manage our growth and associated investments;

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anticipated trends, growth rates, and challenges in our business, our industry, and in the markets in which we operate;

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our ability to continue to grow across our current markets and expand into new markets;

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our ability to sustain or improve our profitability;

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future investments in our business, our anticipated capital expenditures, and our estimates regarding our capital requirements;

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effectiveness of our brand awareness and marketing efforts;

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our beliefs and objectives for future operations and growth initiatives and ability to predict future results;

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our ability to increase the number of activated policies on our platform;

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our ability to maintain our relationships with agency counterparties and to develop relationships with new agencies and increase agent engagement on our platform;

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our ability to maintain and expand our relationships with carriers, and to diversify the carriers with whom we work;

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our ability and expectations to continue to innovate and enhance our platform and product offerings, and to keep pace with technological developments;

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our reliance on key personnel and our ability to identify, recruit, and retain skilled personnel;

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our ability to obtain, maintain, protect, and enforce our intellectual property rights and any costs associated therewith;

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our ability to successfully defend disputes, legal proceedings and governmental inquiries brought against us;

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our ability to operate our business during fluctuations or an overall decline in economic activity, or any adverse trends in the life insurance industry;

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our ability to compete effectively with existing competitors and new market entrants;

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our ability to comply or remain in compliance with laws and regulations that currently apply or become applicable to our business;

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potential volatility in our stock price and a possible decline in the value of our Class A common stock;

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the other factors discussed under “Risk Factors”; and

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other factors beyond our control.

We caution you that the foregoing list may not contain all of the forward-looking statements made in this Quarterly Report.

You should not rely on forward-looking statements as predictions of future events. We have based the forward-looking statements contained in this Quarterly Report primarily on our current expectations and projections about future events and trends that we believe may affect our business, financial condition, and results of operations. The outcome of the events described in these forward-looking statements is subject to risks, uncertainties, and other factors described in the section titled “Risk Factors” and elsewhere in this Quarterly Report. Moreover, we operate in a very competitive and rapidly changing environment. New risks and uncertainties emerge from time to time, and it is not possible for us to predict all risks and uncertainties that could have an impact on the forward-looking statements contained in this Quarterly Report. The results, events, and circumstances reflected in the forward-looking statements may not be achieved or occur, and actual results, events, or circumstances could differ materially from those described in the forward-looking statements.

In addition, statements that “we believe” and similar statements reflect our beliefs and opinions on the relevant subject. These statements are based on information available to us as of the date of this Quarterly Report. While we believe such information provides a reasonable basis for these statements, such information may be limited or incomplete. Our statements should not be read to indicate that we have conducted an exhaustive inquiry into, or review of, all relevant information. These statements are inherently uncertain, and investors are cautioned not to unduly rely on these statements.

The forward-looking statements made in this Quarterly Report relate only to events as of the date on which the statements are made. We undertake no obligation to update any forward-looking statements made in this Quarterly Report to reflect events or circumstances after the date of this Quarterly Report or to reflect new information, actual results, revised expectations, or the occurrence of unanticipated events, except as required by law. We may not actually achieve the plans, intentions, or expectations disclosed in our forward-looking statements, and you should not place undue reliance on our forward-looking statements. Our forward-looking statements do not reflect the potential impact of any future acquisitions, mergers, dispositions, joint ventures, or investments.

WHERE YOU CAN FIND ADDITIONAL INFORMATION

We intend to announce material information to the public through filings with the Securities and Exchange Commission (“SEC”), the investor relations page on our website, press releases, public conference calls, public webcasts, our blog posts on our website, and our X (formerly Twitter) (@getEthosLife) and LinkedIn (www.linkedin.com/company/ethoslife) accounts. The information disclosed through the foregoing channels could be deemed to be material information. As such, we encourage investors, the media, and others to follow the channels listed above and to review the information disclosed through such channels.

The information we post through these channels is not a part of this Quarterly Report on Form 10-Q. Any updates to the list of disclosure channels through which we will announce information will be posted on the investor relations page on our website.