Exzeo Group, Inc.

End Notes

1. Earnings per share is calculated in accordance with GAAP. Certain unvested restricted stock awards are considered participating securities because they carry non-forfeitable dividend and voting rights and share in the Company's earnings. Refer to Basic and Diluted Earnings Per Share table for additional information.

2. Managed Premium is defined as the aggregate gross dollar value of in-force premiums that are processed, managed or administered by Exzeo's software solutions as of the period end date. This excludes any applicable policy fee income associated with managed policies. Premium pricing may vary by state due to a combination of factors including regulatory requirements; however, the majority of the policies are written in the state of Florida. Revenue is primarily derived from usage-based pricing models, which are structured based on the amount of managed premiums processed, in most cases. We view managed premium as an important metric because it is an indicator of the overall size of the Exzeo Platform. However, managed premium is an operational metric and should not be considered a substitute for revenue or other financial results.

3. Adjusted EBITDA, Adjusted Revenue, Adjusted EBITDA Margin, and Free Cash Floware non-GAAP financial measures. Please see discussion of non-GAAP financial measures at the end of this press release for more information.

4. Annual Recurring Revenueis a key operational metric to assess the scale of our recurring revenue generated from managed premium. ARR is defined as the sum of each customer's managed premiums, multiplied by their respective contractual fee rates, plus any applicable policy fee income associated with managed policies as of the period end date. ARR excludes revenue from nonrecurring sources, such as catastrophe services.

5. Share Repurchase Programs refer to the May 2026 and August 2026 programs authorizing the repurchase of up to $12.0 million and $25.0 million, respectively, of Exzeo's common stock.