March 2024 Investor Presentation

Investor Update

Fourth Quarter 2023

Accurate as of March 2024

Mission, Vision, & Values

The ProAssurance Mission

We Protect Others.

Corporate Values

Integrity | Leadership | Relationships | Enthusiasm

Our Brand Promise

We will honor these values in the execution of treated fairly to

perform our mission and realize our vision.

ProAssurance Executive Leadership

Ned Rand - President & Chief Executive Officer

Mr. Rand became President and CEO in 2019, after serving as COO, CFO, Executive VP, and Senior VP of Finance at ProAssurance since joining the company in 2004. Prior to joining ProAssurance, he served in a number of financial roles for insurance companies.

Mr. Rand is a CPA and graduate of Davidson College (B.A., Economics)

Executive Team bios available on our website at Investor.ProAssurance.com/OD

ProAssurance Board of Directors

Director bios available on our website at Investor.ProAssurance.com/OD

Operating and Reportable Segments Update

Q3 2023 Event

ProAssurance decided to discontinue participation in the results of Lloyd's Syndicate 1729

effective December 31, 2023

Results from our participation in Syndicate 1729 from open underwriting years prior to 2024 will continue to eaout pro rata over the entire policy period of the underlying business.

Resulting Segment Consolidation*

As a result of the ceased participation in Syndicate 1729 for the 2024 underwriting year, we changed our segment reporting

Underwriting results from our participation in Lloyd's will are now reported in the Specialty P&C segment.

Investment results of assets allocated to the Syndicate and U.K. income taxes are now reported in the Corporate segment.

*All prior period segment information has been recast to conform with our current segment reporting structure

Q4 2023 Discussion Points

Significant Positives

Strong New Business Gains at rates that meet our pricing goals and underwriting criteria Strong Retention

Earning New Business and Retaining Existing Insureds While Maintaining Pricing and Underwriting Discipline

Workers' Compensation

Increase in Full Year Loss Ratio Due to the Continuation of Higher Than Anticipated Loss Trends

Medical Inflation Became More Evident in Q3 and has Continued into Q4

We Anticipate This Trend Will Affect the Broader Work Comp market and Should Lead to More Favorable Market Conditions.

*All prior period segment information has been recast to conform with our current segment reporting structure

ProAssurance Reports Financial Results in Four Segments