February 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 Full Year & Q4 2021 HIGHLIGHTS

• 2021 GWP of $535.2 million, up 51% versus 2020
• • Q4 GWP of $149.9 million, up 56% versus Q4 2020
• 2021 adjusted net income of $53.4 million
• • Q4 adjusted net income of $19.2 million
• 2021 adjusted ROE of 14.1%
• • Q4 adjusted retuon equity of 19.9%
• 2021 adjusted combined ratio of 76.1%
• • Q4 adjusted combined ratio of 70.7%
• Authorized new two-year $100 million share repurchase program in January 2022
• Released second annual Sustainability & Citizenship report in February 2022
• Full year 2022 adjusted net income guidance of $80 to $85 million
• • Adjusted ROE of 19% at the mid-point of the range
  • Adjusted ROE floor of 14% with renewing aggregate program

STRONG GROWTH

EARNINGS PREDICTABILITY

STRATEGIC INITIATIVES

Generated exceptional top line growth of 51% year-over-year

• Commercial Earthquake and Residential Earthquake increased 54% and 21% respectively
• Additional product growth: Inland Marine 270%, Hawaii Hurricane 119% and Residential Flood 42%

• E&S company delivered $152.2 million in GWP, representing 416% year-over-year growth

• Newer li nes of business (Real Estate Errors & Omissions and Excess Liability) and Builders' Risk partnerships (TRU and PURE) scaled throughout the year

Concerted efforts to mitigate earnings volatility

• Completed run-off of admitted All Risk and Specialty Homeowners in Louisiana

• Generated adjusted net income of $53.4 million and adjusted ROE of 14.1% for shareholders

Executed several noteworthy initiatives

• Traction within PLMR-FRONT; targeting $80 to $100 million of managed premiums in 2022

• Launched new General Casualty, Professional Liability and Excess Property divisions led by seasoned and talented underwriters
• Authorized new two-year $100 million share repurchase program
• Launched ESG portal and released second annual Sustainability and Citizenship report

SUSTAIN STRONG

GROWTH

• Continue momentum in the earthquake book
• Capitalize on dislocation of California insurance market and the California Earthquake
  Authority ("CEA")
• Pursue additional rate increases and distribution expansion
• Ongoing expansion of the Inland Marine division
• Address residential flood market opportunity arising from FEMA's 'Risk Rating 2.0' initiative

MONETIZE RECENT

INVESTMENTS

• Nurture carrier partnerships
• Expand existing programs
• Scale PLMR-FRONT to $80 million to $100 million of managed premiums
• Build General Casualty, Professional Liability and Excess Property divisions
• Utilize Inside Sales team to amplify agency distribution

ENHANCE EARNINGS

PREDICTABILITY

• Reduce continental hurricane exposure
• Generate additional underwriting income from non-catastrophe exposed lines of business
• Enhance fee-based income stream via PLMR-FRONT
• Renew aggregate reinsurance protection
• Utilize quota share reinsurance to mitigate attritional losses

SCALE THE

ORGANIZATION

• Utilize technology to optimize costs and expand margins
• Invest in actuarial, analytics, underwriting and technology departments
• Drive expense efficiency in the claims organization