2025 1st Quarter Investor Supplement

ERIE INDEMNITY COMPANY

Investor Supplement First Quarter 2025

This report is for informational purposes only and includes financial statements and financial exhibits that are unaudited. This report should be read in conjunction with documents filed with the U.S. Securities and Exchange Commission, including the most recent Annual Report on Form 10-K for 2024.

Erie Indemnity Company

Investor Supplement - First Quarter 2025 Table of Contents

	Page
Definitions		1
Indemnity Consolidated Income Statements		2
Indemnity Consolidated Balance Sheet Information		3
Property and Casualty Group Direct Written Premium Growth Measures		4
Property and Casualty Group Statutory Basis Combined Ratio - Direct Business		5

Erie Indemnity Company

Investor Supplement - First Quarter 2025 Definitions

Indemnityis a publicly held Pennsylvania business corporation that has since its incorporation in 1925 served as the attorney-in-fact for the subscribers (policyholders) at the Erie Insurance Exchange ("Exchange"). Our primary function as attorney-in-fact is to perform policy issuance and renewal services on behalf of the subscribers at the Exchange. We also act as attorney-in-fact on behalf of the subscribers at the Exchange with respect to all claims handling and investment management services, as well as the service provider for all claims handling, life insurance and investment management services for the Exchange's insurance subsidiaries, collectively referred to as "administrative services".

Exchange, which also commenced business in 1925, is a Pennsylvania-domiciled reciprocal insurer that writes property and casualty insurance.

Property and Casualty Group

The Property and Casualty Group ("P&C Group") is a regional insurance group operating in 12 Midwestern, Mid-Atlantic, and Southeastestates and the District of Columbia. The P&C Group is comprised of the Exchange and its wholly owned property and casualty insurance subsidiaries. Certain operating and statistical measures have been incorporated herein to provide supplemental data that indicate current trends in the P&C Group's business. These measures include revenue, policies in-force and policyholder retention. Policyholder retention is defined as renewal policies in the current period divided by total policies in the prior period.

The P&C Group, along with others in the property and casualty insurance industry, use statutory underwriting ratios as measures of performance. The loss and loss expense ratio is the ratio of incurred losses and loss adjustment expenses to earned premiums. The statutory underwriting expense ratio is the ratio of underwriting expenses to written premiums. The combined ratio is the sum of the loss and loss expense ratio, the underwriting expense ratio and the policyholder dividend ratio. A combined ratio below 100% demonstrates underwriting profit; a combined ratio above 100% demonstrates underwriting losses.

• The calendar year ratio represents the combined ratio for the current calendar year.

• Loss reserve development is the increase or decrease in incurred losses and loss adjustment expenses as a result of the re-estimation of loss and loss adjustment expense reserves at successive valuation dates for a group of claims. Loss reserve development may be related to one or more prior years. The prior year reserve development ratio represents the ratio of prior years' incurred losses and loss adjustment expenses to earned premiums.

• The current accident year catastrophe loss ratio represents the ratio of current accident year incurred catastrophe losses and loss adjustment expenses to earned premiums.

• The current accident year excluding catastrophes ratio represents the sum of the current accident year incurred losses and loss adjustment expenses to earned premiums ratio, the underwriting expense ratio and the policyholder dividend ratio.

Erie Indemnity Company

Investor Supplement - First Quarter 2025 (Unaudited)

Indemnity

Consolidated Income Statements

(dollars in thousands, except per share data) Three Months Ended

Operating revenue

Management fee revenue - policy issuance and renewal services Management fee revenue - administrative services Administrative services reimbursement revenue

Service agreement revenue Total operating revenue

Operating expenses

Commissions

Non-commission expenses

Cost of operations - policy issuance and renewal services Cost of operations - administrative services

Total operating expenses Operating income

Investment income

Interest and dividend income, net

Equity in earnings (losses) of limited partnerships Net investment income

Net realized and unrealized investment gains (losses)

Net impairment losses recognized in earnings Total investment income

Other income

Income before income taxes Income tax expense

Net income

Net income per share - diluted

Erie Indemnity Company

Investor Supplement - First Quarter 2025 (Unaudited)

Total liabilities and shareholders' equity $ 2,968,228 $ 2,888,614 $ 2,864,147 $ 2,691,960 $ 2,555,794

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Disclaimer

Erie Indemnity Company published this content on April 28, 2025, and is solely responsible for the information contained herein. Distributed via Public Technologies (PUBT), unedited and unaltered, on April 28, 2025 at 12:35 UTC.