Verisk Analytics, Inc.

NOTES TO CONDENSED CONSOLIDATED FINANCIAL STATEMENTS (UNAUDITED)

(Amounts in millions, except for share and per share data, unless otherwise stated)

1. Organization:

Verisk Analytics, Inc. (the "Company") is a strategic data analytics and technology partner to the global insurance industry. We empower clients to strengthen operating efficiency, improve underwriting and claims outcomes, combat fraud and make informed decisions about global risks, including climate change, extreme events, sustainability, and political issues. Through advanced data analytics, software, scientific research, and deep industry knowledge, we help build global resilience for individuals, communities, and businesses. We trade under the ticker symbol "VRSK" on the Nasdaq Global Select Market.

2. Basis of Presentation and Summary of Significant Accounting Policies:

Our accompanying unaudited condensed consolidated financial statements have been prepared on the basis of accounting principles generally accepted in the U.S. ("U.S. GAAP"). The preparation of financial statements in conformity with these accounting principles requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of revenues and expenses during the reporting periods. Significant estimates include acquisition purchase price allocations, the fair value of goodwill and intangibles, the realization of deferred tax assets and liabilities, acquisition-related liabilities, fair value of stock-based compensation for stock options and performance share units granted, and assets and liabilities for pension and postretirement benefits. Actual results* may*ultimately differ from those estimates.

Our condensed consolidated financial statements as of* June 30, 2025* and for thethree andsix months ended* June 30, 2025and2024*, in the opinion of management, include all adjustments, consisting of normal recurring items, to present fairly our financial position, results of operations, and cash flows. Our operating results for thethree andsix months ended* June 30, 2025* arenot necessarily indicative of the results to be expected for the full year. Our condensed consolidated financial statements and related notes as of and for thethree andsix months ended* June 30, 2025* have been prepared on the same basis as and should be read in conjunction with our annual report on Form10-K for the year ended* December 31, 2024*. Certain information and footnote disclosures normally included in financial statements prepared in accordance with U.S. GAAP have been condensed or omitted pursuant to the rules of the SEC. We believe the disclosures made are adequate to keep the information presented from being misleading.

Recent Accounting Pronouncements

7

3. Revenues:

Disaggregated revenues by type of service and by country are provided below for thethree andsix months ended* June 30, 2025and2024*.No individual customer or country outside of the U.S. accounted for10% or more of our consolidated revenues for thethree andsix months ended* June 30, 2025* or2024.

Contract assets are defined as an entity's right to consideration in exchange for goods or services that the entity has transferred to a customer when that right is conditioned on something other than the passage of time. As of* June 30, 2025* and* December 31, 2024*, we hadno contract assets. Contract liabilities are defined as an entity's obligation to transfer goods or services to a customer for which the entity has received consideration (or an amount of consideration is due) from the customer. As of* June 30, 2025* and* December 31, 2024*, we had contract liabilities that primarily related to unsatisfied performance obligations to provide customers with the right to use and update the online content over the remaining contract term of $672.0 million and $451.1 million, respectively. Contract liabilities, which are current and noncurrent, are included in "Deferred revenues" and "Other noncurrent liabilities" in our condensed consolidated balance sheets, respectively, as of* June 30, 2025* and* December 31, 2024*.

The following is a summary of the change in contract liabilities from* December 31, 2024* through* June 30, 2025*:

Our most significant remaining performance obligations relate to providing customers with the right to use and update the online content over the remaining contract term. Our disclosure of the timing for satisfying the performance obligation is based on the requirements of contracts with customers. However, from time to time, these contracts* maybe subject to modifications, impacting the timing of satisfying the performance obligations. These performance obligations, which are expected to be satisfied withinone* year, comprised approximately 99% and 98%** of the balance at June 30, 2025 and* December 31, 2024*.

We recognize an asset for incremental costs of obtaining a contract with a customer if we expect the benefits of those costs to be longer thanone year. As of* June 30, 2025* and* December 31, 2024*, we had deferred commissions of $81.2 million and $78.5 million, respectively, which have been included in "Prepaid expenses" and "Other noncurrent assets" in our accompanying condensed consolidated balance sheets.

8

4. Investments and Fair Value Measurements:

We have certain assets and liabilities that are reported at fair value in our accompanying condensed consolidated balance sheets. To increase consistency and comparability of assets and liabilities recorded at fair value, ASC820-10, Fair Value Measurements, established athree-level fair value hierarchy to prioritize the inputs to valuation techniques used to measure fair value. ASC820-10 requires disclosures detailing the extent to which companies measure assets and liabilities at fair value, the methods and assumptions used to measure fair value, and the effect of fair value measurements on earnings. In accordance with ASC820-10, we applied the following fair value hierarchy:

The fair values of cash and cash equivalents, accounts receivable, accounts payable and accrued liabilities, and short-term debt approximate their carrying amounts, because of the short-term nature of these instruments. Our investments in registered investment companies, which are Level1 assets measured at fair value on a recurring basis, was $1.2 million as of* June 30, 2025* and* December 31, 2024*. Our investments in registered investment companies are valued using quoted prices in active markets multiplied by the number of shares owned and were included in "Other current assets" in our accompanying condensed consolidated balance sheets.

We electednot to carry our long-term debt at fair value. The carrying value of the long-term debt represents amortized cost, inclusive of unamortized premium, and net of unamortized discount and debt issuance costs. We assess the fair value of these financial instruments based on an estimate of interest rates available to us for financial instruments with similar features, our current credit rating, and spreads applicable to us. The following table summarizes the carrying value and estimated fair value of these financial instruments as of* June 30, 2025* and* December 31, 2024*, respectively:

As of* June 30, 2025* and* December 31, 2024*, we had securities without readily determinable market values of $198.4 million and $195.3 million, respectively, which were accounted for at cost. We donot have the ability to exercise significant influence over the investees’ operating and financial policies and donot hold investments in common stock or in-substance common stock in such entities. As of* June 30, 2025* and* December 31, 2024*, we also had investments in private companies of $28.3 million and $27.0 million, respectively, accounted for in accordance with ASC323-10-25, The Equity Method of Accounting for Investments in Common Stock ("ASC323-10-25"), as equity method investments. All such investments were included in "Other noncurrent assets" in our accompanying condensed consolidated balance sheets. For thethree andsix months ended* June 30, 2025*, there wasno provision for credit losses related to these investments.

9

5. Leases:

We have operating and finance leases for corporate offices, data centers, and certain equipment that are accounted for under ASC842, Leases ("ASC842").

The following table presents the consolidated lease cost and cash paid for amounts included in the measurement of lease liabilities for finance and operating leases for thethree andsix months ended* June 30, 2025and2024*, respectively:

(1)Included in "Cost of revenues" and "Selling, general and administrative" expenses in our accompanying condensed consolidated statements of operations

(2)Included in "Depreciation and amortization of fixed assets" in our accompanying condensed consolidated statements of operations

(3)Included in "Interest expense" in our accompanying condensed consolidated statements of operations

The following table presents weighted-average remaining lease terms and weighted-average discount rates for the consolidated finance and operating leases as of* June 30, 2025and2024*, respectively:

Our right-of-use ("ROU") assets and lease liabilities for finance leases were $38.1 million and $37.0 million, respectively, as of* June 30, 2025*. Our ROU assets and lease liabilities for finance leases were $47.7 million and $41.4 million, respectively, as of* December 31, 2024*. Our ROU assets for finance leases were included in "Fixed assets, net" in our accompanying condensed consolidated balance sheets. Our lease liabilities for finance leases were included in the "Short-term debt and current portion of long-term debt" and "Long-term debt" in our accompanying condensed consolidated balance sheets (see Note9. Debt).

Maturities of lease liabilities for the remainder of2025 and the years through2030 and thereafter are as follows:

10

6. Acquisitions:

2025 Acquisitions

On* April 2, 2025,we completed the acquisition of 100 percent of the stock of Nasdaq subsidiary Simplitium Limited ("Simplitium"), for a cash purchase price of $19.7 million. The acquisition will provide Verisk clients with access to300*+third-party models, providing unique, niche views of risk across the globe. The acquisition will further our expansion in Europe and the Company’s goal of helping insurers and claims service providers leverage more holistic data and technology tools to enhance the claims experience.

The preliminary purchase price allocation of the2025 acquisition resulted in the following:

The preliminary amounts assigned to intangible assets by type for the2025 acquisition are summarized in the table below:

The preliminary allocations of the purchase price for the2025 acquisition with less than a year of ownership are subject to revisions as additional information is obtained about the facts and circumstances that existed as of each acquisition date. The revisions* mayhave a significant impact on our condensed consolidated financial statements. The allocations of the purchase price will be finalized once all the information that was known as of the acquisition date is obtained and analyzed, butnot* to exceedone year from the acquisition date. The primary areas of the purchase price allocation that arenot yet finalized relate to income and non-income taxes, deferred revenues, the valuation of intangible assets acquired, and residual goodwill. The goodwill associated with our acquisition includes the acquired assembled workforce, the value associated with the opportunity to leverage the work force to continue to develop the technology and content assets, as well as our ability to grow through adding additional customer relationships or new solutions in the future. The $11.9 million in goodwill associated with our acquisitions, isnot deductible for tax purposes. The preliminary amounts assigned to intangible assets by type for these acquisitions were based upon our valuation model and historical experiences with entities with similar business characteristics.

For thethree andsix months ended* June 30, 2025and2024,* we incurred transaction costs of $0.1 million and $0.0 million, and $0.9 million and $0.1 million, respectively. The transaction costs were included within "Selling, general and administrative" expenses in our accompanying condensed consolidated statements of operations. The2025 acquisition was immaterial to our condensed consolidated statement of operations for thethree andsix months ended* June 30, 2025and2024,* and therefore, supplemental information disclosure on an unaudited pro forma basis isnot presented.

Acquisition Escrows and Related Liabilities

As of* June 30, 2025*, the acquisition of Morning Data Limited ('Morning Data') included an acquisition-related contingent payment, for which the sellers of these acquisitions could receive additional payments by achieving the specific predetermined revenue, EBITDA margin, and/or Cash EBITDA earn-out targets for exceptional performance. We believe that the liabilities recorded as of* June 30, 2025* and* December 31, 2024* reflect the best estimate of acquisition-related contingent payments. There wasno associated current portion of the contingent payments as of* June 30, 2025* and* December 31, 2024*. The associated noncurrent portion of acquisition-related contingent payments was $0.6 million and $2.2 million as of* June 30, 2025* and* December 31, 2024*, respectively.

11

7. Goodwill and Intangible Assets:

The following is a summary of the change in goodwill from* December 31, 2024* through* June 30, 2025*:

Goodwill and intangible assets with indefinite lives are subject to impairment testing annually as of* June30,* or whenever events or changes in circumstances indicate that the carrying amount* maynot* be fully recoverable. When evaluating goodwill for impairment, we* maydecide tofirst* perform a qualitative assessment, or “Step Zero” impairment test, to determine whether it is more likely thannot that impairment has occurred. The qualitative assessment includes a review of macroeconomic conditions, industry and market considerations, internal cost factors, and our own overall financial and share price performance, among other factors. If we donot perform a qualitative assessment, or if we determine that it is more likely thannot that the carrying amounts of our reporting units exceeds their fair value, we perform a quantitative assessment and calculate the estimated fair value of the respective reporting unit. If the carrying amount of a reporting unit’s goodwill exceeds the fair value of that goodwill, an impairment loss is recognized. As of* June 30, 2025,we completed our stepzero* impairment test at the reporting unit level and determined it wasnot more likely thannot that the carrying values of our reporting units exceeded their fair values. We didnot recognize any additional impairment charges related to our goodwill and indefinite-lived intangible assets.

There wereno impairments to long lived assets for thethree andsix months ended* June 30, 2025and2024*.

Our intangible assets and related accumulated amortization consisted of the following:

Amortization expense related to intangible assets for thethree months ended* June 30, 2025and2024* was $16.3 million and $18.2 million, respectively. Amortization expense related to the intangible assets forsix months ended* June 30, 2025and2024* was $32.1 million and $36.7 million, respectively. Estimated amortization expense for the remainder of2025 and the years through2030 and thereafter for intangible assets subject to amortization is as follows:

12