Hagerty, Inc. · NYSE:HGTY
Hagerty — Q3 2026 Earnings Presentation
22 slides from Hagerty's earnings presentation, Nov 3, 2026
Slide 1: Investor Presentation Q3 2026
INVESTOR PRESENTATION Q3 2026 Speakers: McKeel Hagerty, Chief Executive Officer and Chairman Patrick McClymont, Chief Financial Officer
Slide 2: Forward Looking Statements / Non-GAAP Financial Measures
HAGERTY Q3 2026 | 2 Forward Looking Statements / Non-GAAP Financial Measures This presentation contains statements that constitute “forward- looking statements” within the meaning of the federal securities laws. All statements we provide, other than statements of historical fact, are forward-looking
Slide 3: Third Quarter YTD 2026 Highlights
HAGERTY Q3 2026 | 3 THIRD QUARTER YTD 2026 Highlights 1 YTD Q3 2026 reflects the transition of business under the Markel Fronting Arrangement, which resulted in a decrease in Commission and fee revenue and the recognition of transitional costs to amortize the remaining deferred ceding commissions re
Slide 4: 2026 Priorities
Grow policies in force to 3.0 million by 2030 INVESTING IN OUR MEMBER-CENTRIC APPROACH TO DELIVER COMPOUNDING PROFIT GROWTH: » Implement Markel Fronting Arrangement with 100% quota share and realize anticipated benefits » Accelerate insurance growth with State Farm rollout » Leverage technology to e
Slide 5: Third Quarter YTD 2026 Financial Highlights
HAGERTY Q3 2026 | 5 THIRD QUARTER YTD 2026 Financial Highlights 1 YTD Q3 2026 reflects the transition of business under the Markel Fronting Arrangement, which resulted in a decrease in Commission and fee revenue and the recognition of transitional costs to amortize the remaining deferred ceding comm
Slide 6: Revenue Components
HAGERTY Q3 2026 | 6 Revenue Components 18% Growth in Written Premium Fueled by PIF Growth 1 Includes base commissions, payment plan fees and contingent underwriting commissions. 2026 now reflects the transition of our business under the Markel Fronting Arrangement, which resulted in a decrease in Co
Slide 7: Third Quarter Earnings Analysis
HAGERTY Q3 2026 | 7 Q3 2024 Q3 2025 Q3 2026Q3 2024 Q3 2025 Q3 2026 1 Q3 2024 Net Income includes a $0.5 million net loss as a result of the settlement of our warrant liabilities and change in the fair value prior to the settlement of our warrant liabilities and $24 million of pre- tax losses from Hu
Slide 8: Third Quarter YTD 2026 Earnings Analysis
HAGERTY Q3 2026 | 8 Q3 2024 Q3 2025 Q3 2026 Q3 2024 Q3 2025 Q3 2026 1 YTD Q3 2024 Net Income includes a $9 million loss as a result of the settlement of our warrant liabilities and change in the fair value prior to the settlement of our warrant liabilities and $24 million of pre-tax losses from Hurr
Slide 9: Increased 2026 Outlook
HAGERTY Q3 2026 | 9 Increased 2026 Outlook 1 Prior 2026 Outlook shared on the Company’s second quarter earnings call on August 5th, 2026. 2 Revenue guidance reflects the accounting impact of the Markel Fronting Arrangement. Beginning in 2026, we now control the Essentia book of business with the ben
Slide 10: Non-GAAP Financial Measures | 2026 Outlook
HAGERTY Q3 2026 | 10 NON-GAAP FINANCIAL MEASURES | 2026 OUTLOOK Net Income to Adjusted EBITDA 1 Excludes interest expense related to the BAC Credit Facility, which is recorded within “Selling, general, and administrative expenses” in the Condensed Consolidated Statements of Operations. 2 Other unusu
Slide 11: Appendix
Appendix
Slide 12: Revenue Components by Quarter
HAGERTY Q3 2026 | 12 REVENUE COMPONENTS BY QUARTER $ in Millions 152 158 166 168 169 178 187 193 240 252 265 Q1 2024 Q2 2024 Q3 2024 Q4 2024 Q1 2025 Q2 2025 Q3 2025 Q4 2025 Q1 2026 Q2 2026 Q3 2026 89 129 116 89 100 143 137 106 16 24 22 Q1 2024 Q2 2024 Q3 2024 Q4 2024 Q1 2025 Q2 2025 Q3 2025 Q4 2025
Slide 13: Net Income to Adjusted EBITDA
HAGERTY Q3 2026 | 13 IN THOUSANDS Q3 2025 Q4 2025 - Q2 2026 Q3 2026 TTM Net income $46,171 $23,855 $36,269 $60,124 Interest expense and other, net1 32,403 2,807 886 3,693 Income tax expense (benefit) (32,834) (2,860) 5,130 2,270 Depreciation and amortization 9,413 29,212 9,791 39,003 EBITDA 55,153 5
Slide 14: Non-GAAP reconciliation notes
HAGERTY Q3 2026 | 14 1 For the nine months ended September 30, 2026, other unusual items includes: (i) a loss related to the write-down of certain fixed assets classified as held-for-sale; (ii) the impairment of certain operating lease right-of-use assets; (iii) professional fees related to (a) the
Slide 15: Markel Fronting Arrangement
Markel Fronting Arrangement Evolving the decade-long partnership, with Hagerty controlling 100% of the premium in 2026 HAGERTY Q3 2026 | 15 → Future classic status: Secured. The 2013 BMW M3 Lime Rock Park Edition. PHOTOGRAPHER: JAMES LIPMAN DRIVING BETTER PROFITABILITY AND OPERATIONAL CONTROL WITH N
Slide 16: Third Quarter P&L Comparability Bridge
HAGERTY Q3 2026 | 16 THIRD QUARTER P&L COMPARABILITY BRIDGE a Represents Hagerty Re’s earned premium and associated policy acquisition costs related to Essentia policies issued in 2025. b Represents Hagerty Re’s earned premium and associated policy acquisition costs related to Essentia policies issu
Slide 17: Third Quarter YTD P&L Comparability Bridge
HAGERTY Q3 2026 | 17 THIRD QUARTER YTD P&L COMPARABILITY BRIDGE a Represents Hagerty Re’s earned premium and associated policy acquisition costs related to Essentia policies issued in 2025. b Represents Hagerty Re’s earned premium and associated policy acquisition costs related to Essentia policies
Slide 18: Well-Positioned to Capture Additional Market Share
HAGERTY Q3 2026 | 18 WELL-POSITIONED TO CAPTURE ADDITIONAL MARKET SHARE Large and underpenetrated target market Hagerty Target Market is the subset of TAM identified as more likely to be currently used as collector vehicles based on age, inherent vehicle characteristics and expert curation. Source:
Slide 19: Hagerty's Differentiated Model Delivers High-Quality Growth
HAGERTY Q3 2026 | 19 2010 2011 2012 2013 2014 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 —% 100% 200% 300% 400% 500% 600% Hagerty U.S. Auto - CAGR 13% Industry Top 100 - CAGR 5% Hagerty Loss Ratio - average = 39% Industry Loss Ratio - average = 68% HAGERTY U.S. AUTO PREMIUM GROWTH VS. IN
Slide 20: Historical Written Premium Growth
HAGERTY Q3 2026 | 20 HISTORICAL WRITTEN PREMIUM GROWTH 2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 0 200 400 600 800 1,000 1,200 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 —% 3% 5% 8
Slide 21: Written Premium Growth Fueled by New Members
HAGERTY Q3 2026 | 21 2014 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 0 50,000 100,000 150,000 200,000 250,000 300,000 350,000 400,000 450,000 • New business count accelerated with commencement of State Farm Classic+ conversion WRITTEN PREMIUM GROWTH FUELED BY NEW MEMBERS Consistent share
Slide 22: Never Stop Driving
HAGERTY B NEVER STOP DRIVING