Quarterly Supplement Q4 2025 NYSE: MTG Forward-Looking Statements As used below, "we," "our" and "us" refer to MGIC Investment Corporation's consolidated operations or to MGIC Investment Corporation, as the context requires, and "MGIC" refers to Mortgage Guaranty Insurance Corporation. This presentation may contain forward looking statements. Our actual results could be affected by the risks affecting the company which can be found in the risk factors included in our 8-K filing for the quarter ended Decembe ...

Risk in Force - The original risk written in 2025 was $113 billion, with 965% remaining[6] - The original risk written in 2004 and prior was $1815 billion, with 02% remaining[6] - The weighted average FICO score for 2025 originations is 755, with 508% having a FICO score of 760 and above[6] - The weighted average LTV for 2025 originations is 931%, with 46% having an LTV of 85 or less[6] Delinquency and Losses - The risk in force delinquent is 20%[7] - The number of new notices received in the quarter is 13,582[7,11] - Ever-to-date claims paid for 2005-2008 originations is $133953 million[7] Risk Distribution and Capital - Total PMIERs Primary Minimum Required Assets is $5849 billion[9] - The company ceded 43% of its risk through various reinsurance agreements[9] - Scheduled Contingency Reserve Releases for 2025 is $457 million[26], but as of September 30, 2025, the contingency reserve releases totaled $338 million[27] Losses Incurred - Current period losses incurred, net, are $58 million[11] - Losses incurred, net, are $11 million[11]

Risk in Force Composition - The original risk written in 2025 was $6.9 billion, with 98.1% remaining [6] - The original risk written in 2004 and prior was $181.5 billion, with only 0.2% remaining [6] - For loans originated in 2025, 50.6% had a FICO score of 760 and above [6] - Loans with an original LTV between 90.01% and 95.00% constitute 53.5% of the primary risk in force [6] Delinquency and Losses - The total number of delinquent loans is 24,444 [7] - Risk in force delinquent is 1.9% [7] - Ever-to-date claims paid for the 2005-2008 origination years reached $13.3913 billion [7] PMIERs and Risk Distribution - Total Primary Minimum Required Assets are $5.758 billion [9] - Of the $418 million required for 2025, $192 million is retained, $162 million is covered by Quota-Share Reinsurance (QSR), and $63 million by Excess-of-Loss (XOL), resulting in 54% ceded [9] - The company has a $2.5 billion Reinsurance Benefit [9] Financial Performance - Net losses incurred for Q2 2025 were $(3) million [11] - Direct primary loss reserves totaled $392 million in Q2 2025 [12]

Risk in Force Composition - The original risk written in 2025 was $2.6 billion, with 99.4% remaining [6] - The original risk written in 2004 & Prior was $181.5 billion, with only 0.2% remaining [6] - Loans with an original LTV (loan-to-value) of 85% or less accounted for 3.7% of the primary risk in force as of March 31, 2025 [6] - Loans with an original LTV between 90.01% and 95.00% accounted for 53.3% of the primary risk in force as of March 31, 2025 [6] - Loans with FICO scores of 760 and greater represent 44.0% of the primary risk in force [6] Delinquency and Losses - The delinquency rate (based on loan count) was 2.3% [7] - Ever-to-date claims paid for the 2005-2008 origination year reached $13,388.3 million [7] - New notices previously delinquent accounted for 66.8% [7] Financial Performance - Net losses incurred for Q1 2025 were $10 million, after considering prior period development [12] - Direct primary loss reserves totaled $404 million as of March 31, 2025 [13] Capital and Risk Management - Total PMIERs (Primary Mortgage Insurer Eligibility Requirements) Primary Minimum Required Assets were $5,749 million, with $3,310 million retained [11] - The company ceded 42% of its risk through various reinsurance arrangements [11] - Scheduled Contingency Reserve Releases for 2025 totaled $457 million [39], with $112 million released as of March 31, 2025 [40]