Investor Presentation August 2025 1 Disclaimer Forward-looking statements and other information This presentation contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. These forward-looking statements reflect our current views with respect to, among other things, future events and our financial performance. These statements are often, but not always, made through the use of words or phrases such as "may," "should," "could," "predict," "potential," "b ...

Market Opportunity & Growth - Digital insurance advertising spend is projected to reach $14 billion by 2026[13], representing a 23-26% CAGR from 2023[20] - Digital insurance ad spend growth is expected to be 27% in 2024[13], outpacing the overall digital ad spend growth of 13%[22] - The Property & Casualty (P&C) insurance industry is showing signs of recovery, with carriers refocusing on growth and customer acquisition as underwriting results improve[33] MediaAlpha's Performance & Scale - MediaAlpha's LTM (Last Twelve Months) Transaction Value reached $1.7 billion[17] - The company achieved $12.0 million in LTM Transaction Value per employee[17] - Q1 2025 Adjusted EBITDA grew by 104% year-over-year, reaching $29.4 million[17] Financial Overview - In Q1 2025, Transaction Value was $473 million[51], Contribution was $44 million[51], and Adjusted EBITDA was $29.4 million[17] - P&C contributed $407 million to Transaction Value in Q1 2025[51], while Health contributed $58 million[51], Life contributed $7 million[51], and other verticals contributed $1 million[51] - Adjusted EBITDA for the year 2024 was $96 million[49], and LTM Q1 2025 Adjusted EBITDA reached $111 million[49]