Bamboo Insurance Services (BMB) investor relations material

Company overview and business model

• Operates as an AI- and technology-enabled, underwriting-first, capital-light homeowners insurance MGU, managing all functions across the insurance value chain while partnering with a diversified group of highly rated capacity providers.

• Focuses on data-driven underwriting, leveraging over 200 data points per home, and advanced analytics to deliver superior risk selection and portfolio construction.

• Core business generates recurring revenue from commissions paid by capacity providers and fees paid by policyholders, with additional income from a retail agency and a captive reinsurance entity.

• Launched in California, expanded to Texas, and plans further geographic expansion, targeting both admitted and E&S markets.

• Maintains a capital-light model, with minimal risk retention through its captive, and most underwriting risk borne by program partners and reinsurers.

Financial performance and metrics

• For the twelve months ended June 30, 2026: $879M managed premium, $321M total revenue, $139M adjusted EBITDA (43% margin), $23M net income (7% margin).

• Managed premium grew 34% YoY, total revenue 40% YoY, and MGU segment organic revenue 51% YoY for 1H26 vs. 1H25.

• For the year ended December 31, 2025: $766M managed premium (58% YoY growth), $246M revenue, $104M adjusted EBITDA (38% margin), $46M net income (19% margin).

• Policy retention at 88% for the twelve months ended June 30, 2026; premium retention over 100% in 2025.

• Over the last five years, average gross loss and LAE ratio of 55% vs. industry average of 86%, with a standard deviation of 11% vs. 45% for the industry.

Use of proceeds and capital allocation

• No proceeds will be received from the sale of shares by selling stockholders; the offering is to create a public market, facilitate future access to equity markets, and increase visibility.

• Intends to retain future earnings to fund business development, growth, and debt repayment; no current plans to pay regular cash dividends.