August 2022 Investor Presentation

Specialty insurer using data analytics and underwriting acumen to capitalize on market dislocations and provide disruptive products that resonate with producers, other insurers and reinsurers

Leading earthquake insurer in the United States

Multi-channel distribution serving residential and commercial

clients

Admitted and E&S offerings with nationwide scope

A.M. Best "A- (Excellent)" FSC group rating

Risk transfer strategy limits exposure to major events and reduces earnings volatility

Committed to environmental, social, governance, diversity

and inclusion initiatives

NASDAQ: PLMR Q2 2022 HIGHLIGHTS

• GWP of $218.7 million, up 69.1% from Q2 2021
• Adjusted net income of $18.7 million, compared to $13.2 million of Q2 2021
• Annualized adjusted ROE of 19.7%, compared to 14.1% of Q2 2021
• Adjusted combined ratio of 69.1%, compared to 73.8% of Q2 2021
• Successful placement of excess of loss reinsurance program June 2022
• Conversion of our Texas Specialty Homeowner's product to a fronting program as of June
  2022
• Updated full year 2022 adjusted net income guidance of $85 to $90 million excluding unrealized losses on equity security holdings
• • Adjusted ROE of approximately 21% at the mid-point of the range
  • Adjusted ROE floor of approximately 15% with renewed aggregate program
• Successful inaugural Investor Day in June
• • Introduced PLMR 2X philosophy

• Generated exceptional top line growth of 69% year-over-year
• Residential Earthquake and Commercial Earthquake increased 28% and 91%, respectively
• Record new business sales for Residential Earthquake in Q2
• Additional product growth: Inland Marine 98%, Commercial All Risk 42%(1) and Residential Flood 25%
• PESIC approaching 50% of total GWP inclusive of Fronting
• Approved rate increases for both Residential Earthquake and Hawaii Hurricane

• Traction at PLMR-FRONT with $42.2 million of Q2 GWP
• Increased the YE 2022 targeted Fronting GWP range: $130 to $160 (inclusive of Texas Specialty Homeowners business)
• Continued progress within Commercial General Liability, Professional Liability and Excess Property development
• Announced Omaha National partnership and successful expansion of our program Cowbell partnership

• Concerted efforts to mitigate earnings volatility
• Aggregate reinsurance protects against event frequency
  and establishes an adjusted ROE floor of approximately 14%
• Successful completion of June 1 reinsurance placement
• Executed quota share reinsurance for our new Casualty products
• Continued reduction of continental wind exposure
• • Completed transition of Texas Specialty Homeowners business to a fronting arrangement

• Using technology and process optimization to reduce organizational costs enabling future scale and margin expansion
• Hired talent and expertise within analytics, actuarial, technology and operations departments to support growth
• New hires leverage existing technology and infrastructure platforms to scale new initiatives efficiently

2021 Strategic Initiatives Check-In

CASUALTY DIVISION

EXCESS PROPERTY

WHY

HOW

• Serve certain risks that our admitted products cannot satisfy
• React quickly to changes in market conditions
• More efficient path to a national footprint and ability to service national business
• Write business on a direct basis and via trusted and proven program administrators to scale quickly
• Leverage our analytically driven underw riting framework to w rite business on a national scale

• Compelling risk-adjusted returns and reliable, fee-based income stream
• Enter new markets as a non-risk bearing insurance entity w ith the flexibility to selectively participate in risk over time
• Strong MGA sector momentum w ith increasing demand for capacity and minimal market penetration
• Leverage existing talent and expertise w ithin our Programs team
• Fully reinsured and collateralized model
• Target specialty MGAs, insurance carriers and reinsurers seeking an A.M. Best rated issuing carrier

5