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Essent Group Ltd. Announces Fourth Quarter & Full Year 2024 Results and Increases Quarterly Dividend

1. Essent reports Q4 2024 net income of $167.9 million, down from 2023. 2. Quarterly cash dividend of $0.31 reflects confidence in stable cash flows. 3. New insurance written was $12.2 billion, slightly less than Q3 2024. 4. Insurance in force reached $243.6 billion, an increase from last year. 5. Forward-looking statements highlight potential risks ahead for the company.

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Strong income and stable dividend signal financial health, similar to past performances boosting share value.

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The financial results and dividends can directly influence ESNT’s stock price and investor sentiment.

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Immediate effects expected from earnings and dividend announcements, akin to recent quarterly trends.

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HAMILTON, Bermuda--(BUSINESS WIRE)--Essent Group Ltd. (NYSE: ESNT) today reported net income for the quarter ended December 31, 2024 of $167.9 million or $1.58 per diluted share, compared to $175.4 million or $1.64 per diluted share for the quarter ended December 31, 2023. For the full year 2024, net income was $729.4 million or $6.85 per diluted share, compared to $696.4 million or $6.50 per diluted share for 2023. Essent also announced today that its Board of Directors has declared a quarterly cash dividend of $0.31 per common share. The dividend is payable on March 24, 2025, to shareholders of record on March 14, 2025. “We are pleased with our fourth quarter and full year 2024 financial results, which benefited from favorable credit performance given the resilience in consumers and housing,” said Mark A. Casale, Chairman and Chief Executive Officer. “We believe Essent is well positioned to continue producing strong returns and growing book value per share. The increased dividend and new share repurchase authorization demonstrate our confidence in the stability of Essent’s cash flows and our commitment to a balanced approach to capital management moving forward.” Financial Highlights: New insurance written for the fourth quarter of 2024 was $12.2 billion, compared to $12.5 billion in the third quarter of 2024 and $8.8 billion in the fourth quarter of 2023. Insurance in force as of December 31, 2024 was $243.6 billion, compared to $243.0 billion as of September 30, 2024 and $239.1 billion as of December 31, 2023. Net investment income for the full year 2024 was $222.1 million, up 19% from 2023. U.S. mortgage insurance provision for losses and loss adjustment expenses was $37.2 million for the fourth quarter of 2024, which included $8 million associated with 2,119 of defaults we identified as related to Hurricanes Helene and Milton. During the first quarter of 2025, Essent entered into two forward quota share transactions with highly rated third-party reinsurers. These quota share agreements cover 25% of the risk of all eligible policies written by Essent Guaranty, Inc. in calendar years 2025 and 2026. During the fourth quarter of 2024 and January of 2025, Essent repurchased over 2 million common shares for approximately $118 million. In February 2025, our Board approved a $500 million share repurchase authorization that runs through year-end 2026. Conference Call: Essent management will hold a conference call at 10:00 AM Eastern time today to discuss its results. The conference call will be broadcast live over the Internet at http://ir.essentgroup.com/events-and-presentations/events/default.aspx. The call may also be accessed by dialing 888-330-2384 inside the U.S., or 240-789-2701 for international callers, using passcode 9824537 or by referencing Essent. A replay of the webcast will be available on the Essent website approximately two hours after the live broadcast ends for a period of one year. A replay of the conference call will be available approximately two hours after the call ends for a period of two weeks, using the following dial-in numbers and passcode: 800-770-2030 inside the U.S., or 647-362-9199 for international callers, passcode 9824537. In addition to the information provided in the Company's earnings news release, other statistical and financial information, which may be referred to during the conference call, will be available on Essent's website at http://ir.essentgroup.com/financials/quarterly-results/default.aspx. Forward-Looking Statements: This press release may include “forward-looking statements” which are subject to known and unknown risks and uncertainties, many of which may be beyond our control. Forward-looking statements generally can be identified by the use of forward-looking terminology such as "may," "will," “should,” “expect,” "plan," "anticipate," "believe," “estimate,” “predict,” or "potential" or the negative thereof or variations thereon or similar terminology. Actual events, results and outcomes may differ materially from our expectations due to a variety of known and unknown risks, uncertainties and other factors. Although it is not possible to identify all of these risks and factors, they include, among others, the following: changes in or to Fannie Mae and Freddie Mac (the “GSEs”), whether through Federal legislation, restructurings or a shift in business practices; failure to continue to meet the mortgage insurer eligibility requirements of the GSEs; competition for customers or the loss of a significant customer; lenders or investors seeking alternatives to private mortgage insurance; an increase in the number of loans insured through Federal government mortgage insurance programs; decline in the volume of low down payment mortgage originations; uncertainty of loss reserve estimates; decrease in the length of time our insurance policies are in force; deteriorating economic conditions; and other risks and factors described in Part I, Item 1A “Risk Factors” of our Annual Report on Form 10-K for the year ended December 31, 2023 filed with the Securities and Exchange Commission on February 16, 2024, as subsequently updated through other reports we file with the Securities and Exchange Commission. Any forward-looking information presented herein is made only as of the date of this press release, and we do not undertake any obligation to update or revise any forward-looking information to reflect changes in assumptions, the occurrence of unanticipated events, or otherwise. About the Company: Essent Group Ltd. (NYSE: ESNT) is a Bermuda-based holding company (collectively with its subsidiaries, “Essent”) offering private mortgage insurance, reinsurance, and title insurance and settlement services to serve the housing finance industry. Additional information regarding Essent may be found at www.essentgroup.com. Source: Essent Group Ltd. Essent Group Ltd. and Subsidiaries Financial Results and Supplemental Information (Unaudited) Quarter and Year Ended December 31, 2024 Exhibit A Condensed Consolidated Statements of Comprehensive Income (Unaudited) Exhibit B Condensed Consolidated Balance Sheets (Unaudited) Exhibit C Consolidated Historical Quarterly Data Exhibit D U.S. Mortgage Insurance Portfolio Historical Quarterly Data Exhibit E New Insurance Written - U.S. Mortgage Insurance Portfolio Exhibit F Insurance in Force and Risk in Force - U.S. Mortgage Insurance Portfolio Exhibit G Other Risk in Force Exhibit H U.S. Mortgage Insurance Portfolio Vintage Data Exhibit I U.S. Mortgage Insurance Portfolio Reinsurance Vintage Data Exhibit J U.S. Mortgage Insurance Portfolio Geographic Data Exhibit K Rollforward of Defaults and Reserve for Losses and LAE Exhibit L Detail of Reserves by Default Delinquency Exhibit M Investments Available for Sale Exhibit N U.S. Mortgage Insurance Company Capital Exhibit O Ratios and Reconciliation of Non-GAAP Financial Measures     Exhibit A Essent Group Ltd. and Subsidiaries Condensed Consolidated Statements of Comprehensive Income (Unaudited) Three Months Ended December 31, Year Ended December 31, (In thousands, except per share amounts) 2024 2023 2024 2023 Revenues: Direct premiums written $ 279,008 $ 269,255 $ 1,098,603 $ 1,028,781 Ceded premiums (39,499 ) (31,068 ) (132,023 ) (134,499 ) Net premiums written 239,509 238,187 966,580 894,282 Decrease in unearned premiums 4,956 7,427 24,302 22,624 Net premiums earned 244,465 245,614 990,882 916,906 Net investment income 56,559 50,581 222,070 186,139 Realized investment gains (losses), net (114 ) (4,892 ) (2,350 ) (7,204 ) Income (loss) from other invested assets 6,889 (421 ) 7,375 (11,118 ) Other income 7,228 6,395 24,927 25,036 Total revenues 315,027 297,277 1,242,904 1,109,759 Losses and expenses: Provision for losses and LAE 40,975 19,640 81,220 31,542 Other underwriting and operating expenses 70,951 66,723 270,874 225,081 Interest expense 8,151 7,953 35,319 30,137 Total losses and expenses 120,077 94,316 387,413 286,760 Income before income taxes 194,950 202,961 855,491 822,999 Income tax expense 27,050 27,594 126,088 126,613 Net income $ 167,900 $ 175,367 $ 729,403 $ 696,386 Earnings per share: Basic $ 1.60 $ 1.66 $ 6.92 $ 6.56 Diluted 1.58 1.64 6.85 6.50 Weighted average shares outstanding: Basic 104,963 105,733 105,394 106,222 Diluted 106,104 106,823 106,550 107,129 Net income $ 167,900 $ 175,367 $ 729,403 $ 696,386 Other comprehensive income (loss): Change in unrealized appreciation (depreciation) of investments (113,705 ) 155,887 (23,488 ) 102,294 Total other comprehensive income (loss) (113,705 ) 155,887 (23,488 ) 102,294 Comprehensive income $ 54,195 $ 331,254 $ 705,915 $ 798,680 Exhibit B Essent Group Ltd. and Subsidiaries Condensed Consolidated Balance Sheets (Unaudited) December 31, December 31, (In thousands, except per share amounts) 2024 2023 Assets Investments Fixed maturities available for sale, at fair value $ 5,112,697 $ 4,335,008 Short-term investments available for sale, at fair value 764,024 928,731 Total investments available for sale 5,876,721 5,263,739 Other invested assets 303,900 277,226 Total investments 6,180,621 5,540,965 Cash 131,480 141,787 Accrued investment income 43,732 35,689 Accounts receivable 55,564 63,266 Deferred policy acquisition costs 9,653 9,139 Property and equipment 41,871 41,304 Prepaid federal income tax 489,600 470,646 Goodwill and acquired intangible assets, net 79,556 72,826 Other assets 79,572 51,051 Total assets $ 7,111,649 $ 6,426,673 Liabilities and Stockholders' Equity Liabilities Reserve for losses and LAE $ 328,866 $ 260,095 Unearned premium reserve 115,983 140,285 Net deferred tax liability 392,428 362,753 Senior notes due 2029, net of deferred costs 493,959 — Credit facility borrowings, net of deferred costs — 421,920 Other accrued liabilities 176,755 139,070 Total liabilities 1,507,991 1,324,123 Commitments and contingencies Stockholders' Equity Common shares, $0.015 par value: Authorized - 233,333; issued and outstanding - 105,015 shares in 2024 and 106,597 shares in 2023 1,575 1,599 Additional paid-in capital 1,214,956 1,299,869 Accumulated other comprehensive income (loss) (303,984 ) (280,496 ) Retained earnings 4,691,111 4,081,578 Total stockholders' equity 5,603,658 5,102,550 Total liabilities and stockholders' equity $ 7,111,649 $ 6,426,673 Return on average equity 13.6 % 14.6 %     Exhibit C Essent Group Ltd. and Subsidiaries Supplemental Information Consolidated Historical Quarterly Data 2024 2023 Selected Income Statement Data December 31 September 30 June 30 March 31 December 31 (In thousands, except per share amounts) Revenues: Net premiums earned: U.S. mortgage insurance portfolio $ 211,683 $ 214,119 $ 217,513 $ 212,479 $ 211,083 GSE and other risk share 16,180 17,130 17,745 17,826 17,166 Title insurance 16,602 17,687 16,633 15,285 17,365 Net premiums earned 244,465 248,936 251,891 245,590 245,614 Net investment income 56,559 57,340 56,086 52,085 50,581 Realized investment gains (losses), net (114 ) 68 (1,164 ) (1,140 ) (4,892 ) Income (loss) from other invested assets 6,889 2,820 (419 ) (1,915 ) (421 ) Other income (loss) (1) 7,228 7,414 6,548 3,737 6,395 Total revenues 315,027 316,578 312,942 298,357 297,277 Losses and expenses: Provision (benefit) for losses and LAE 40,975 30,666 (334 ) 9,913 19,640 Other underwriting and operating expenses 70,951 66,881 66,202 66,840 66,723 Interest expense 8,151 11,457 7,849 7,862 7,953 Total losses and expenses 120,077 109,004 73,717 84,615 94,316 Income before income taxes 194,950 207,574 239,225 213,742 202,961 Income tax expense (2) 27,050 31,399 35,616 32,023 27,594 Net income $ 167,900 $ 176,175 $ 203,609 $ 181,719 $ 175,367 Earnings per share: Basic $ 1.60 $ 1.67 $ 1.93 $ 1.72 $ 1.66 Diluted 1.58 1.65 1.91 1.70 1.64 Weighted average shares outstanding: Basic 104,963 105,266 105,657 105,697 105,733 Diluted 106,104 106,554 106,778 106,770 106,823 Book value per share $ 53.36 $ 53.11 $ 50.58 $ 48.96 $ 47.87 Return on average equity (annualized) 11.9 % 12.8 % 15.4 % 14.1 % 14.2 % Senior Debt & Credit Facility Borrowings outstanding $ 500,000 $ 500,000 $ 425,000 $ 425,000 $ 425,000 Undrawn committed capacity $ 500,000 $ 500,000 $ 400,000 $ 400,000 $ 400,000 Weighted average interest rate (end of period) 6.25 % 6.25 % 7.07 % 7.06 % 7.11 % Debt-to-capital 8.19 % 8.14 % 7.32 % 7.52 % 7.69 % (1) Other income includes net favorable (unfavorable) changes in the fair value of embedded derivatives associated with certain of our third-party reinsurance agreements, which for the quarters ended December 31, 2024, September 30, 2024, June 30, 2024, March 31, 2024, and December 31, 2023 was $204, ($1,173), $732, ($1,902), and $412, respectively. (2) Income tax expense for the quarters ended December 31, 2024, September 30, 2024, June 30, 2024, March 31, 2024 and December 31, 2023 includes $1,591, $475, $556, ($1,041), and ($1,132), respectively, of discrete tax expense (benefit) associated with realized and unrealized gains and losses. Income tax expense for the quarter ended December 31, 2024 also includes $1,252 of favorable adjustments related to prior year tax returns. Income tax expense for the quarter ended March 31, 2024 also includes ($616) of excess tax benefits associated with the vesting of common shares and common share units. Income tax expense for the quarter ended December 31, 2023 also includes a $2,731 net benefit associated with the recognition of a deferred tax asset for unrealized losses on the investment portfolios of Essent Group and Essent Re upon the enactment of the Bermuda Corporate Income Tax.   Exhibit D Essent Group Ltd. and Subsidiaries Supplemental Information U.S. Mortgage Insurance Portfolio Historical Quarterly Data 2024 2023 Other Data, continued: December 31 September 30 June 30 March 31 December 31 ($ in thousands) U.S. Mortgage Insurance Portfolio New insurance written $ 12,220,968 $ 12,513,695 $ 12,503,125 $ 8,323,544 $ 8,769,160 New risk written 3,297,296 3,437,465 3,449,623 2,289,508 2,409,340 Average insurance in force $ 243,236,830 $ 242,065,632 $ 239,538,571 $ 238,595,268 $ 239,005,961 Insurance in force (end of period) $ 243,645,423 $ 242,976,043 $ 240,669,165 $ 238,477,402 $ 239,078,262 Gross risk in force (end of period) (1) $ 66,613,517 $ 66,237,992 $ 65,269,064 $ 64,247,810 $ 64,061,374 Risk in force (end of period) $ 56,477,150 $ 55,915,640 $ 55,521,538 $ 54,686,533 $ 54,591,590 Policies in force 813,013 815,507 814,237 815,752 822,012 Weighted average coverage (2) 27.3 % 27.3 % 27.1 % 26.9 % 26.8 % Annual persistency 85.7 % 86.6 % 86.7 % 86.9 % 86.9 % Loans in default (count) 18,439 15,906 13,954 13,992 14,819 Percentage of loans in default 2.27 % 1.95 % 1.71 % 1.72 % 1.80 % U.S. Mortgage Insurance Portfolio Premium Rate: Base average premium rate (3) 0.41 % 0.41 % 0.41 % 0.41 % 0.40 % Single premium cancellations (4) — % — % — % — % — % Gross average premium rate 0.41 % 0.41 % 0.41 % 0.41 % 0.40 % Ceded premiums (0.06 %) (0.06 %) (0.05 %) (0.05 %) (0.05 %) Net average premium rate 0.35 % 0.35 % 0.36 % 0.36 % 0.35 % (1) Gross risk in force includes risk ceded under third-party reinsurance. (2) Weighted average coverage is calculated by dividing end of period gross risk in force by end of period insurance in force. (3) Base average premium rate is calculated by dividing annualized base premiums earned by average insurance in force for the period. (4) Single premium cancellations is calculated by dividing annualized premiums on the cancellation of non-refundable single premium policies by average insurance in force for the period.   Exhibit E Essent Group Ltd. and Subsidiaries Supplemental Information New Insurance Written: U.S. Mortgage Insurance Portfolio NIW by Credit Score Three Months Ended Year Ended December 31, 2024 December 31, 2023 December 31, 2024 December 31, 2023 ($ in thousands) >=760 $ 5,754,605 47.1 % $ 3,708,316 42.3 % $ 20,141,961 44.2 % $ 19,181,507 40.2 % 740-759 2,131,356 17.4 1,531,800 17.5 7,848,645 17.2 8,563,621 18.0 720-739 1,640,275 13.4 1,333,537 15.2 6,468,993 14.2 7,644,101 16.0 700-719 1,390,278 11.4 1,256,250 14.3 5,738,325 12.6 7,148,954 15.0 680-699 743,789 6.1 581,913 6.6 3,095,378 6.8 3,606,260 7.6 <=679 560,665 4.6 357,344 4.1 2,268,030 5.0 1,522,409 3.2 Total $ 12,220,968 100.0 % $ 8,769,160 100.0 % $ 45,561,332 100.0 % $ 47,666,852 100.0 % Weighted average credit score 751 747 748 746 NIW by LTV Three Months Ended Year Ended December 31, 2024 December 31, 2023 December 31, 2024 December 31, 2023 ($ in thousands) 85.00% and below $ 977,154 8.0 % $ 642,636 7.3 % $ 3,227,588 7.1 % $ 3,443,647 7.2 % 85.01% to 90.00% 2,821,683 23.1 1,871,854 21.3 9,392,983 20.6 9,822,916 20.6 90.01% to 95.00% 6,348,777 51.9 4,660,032 53.1 24,357,459 53.5 26,043,728 54.6 95.01% and above 2,073,354 17.0 1,594,638 18.3 8,583,302 18.8 8,356,561 17.6 Total $ 12,220,968 100.0 % $ 8,769,160 100.0 % $ 45,561,332 100.0 % $ 47,666,852 100.0 % Weighted average LTV 93 % 93 % 93 % 93 % NIW by Product Three Months Ended Year Ended December 31, 2024 December 31, 2023 December 31, 2024 December 31, 2023 Single Premium policies 1.2 % 2.5 % 1.4 % 3.5 % Monthly Premium policies 98.8 97.5 98.6 96.5 100.0 % 100.0 % 100.0 % 100.0 % NIW by Purchase vs. Refinance Three Months Ended Year Ended December 31, 2024 December 31, 2023 December 31, 2024 December 31, 2023 Purchase 88.3 % 98.7 % 95.0 % 98.8 % Refinance 11.7 1.3 5.0 1.2 100.0 % 100.0 % 100.0 % 100.0 %     Exhibit F Essent Group Ltd. and Subsidiaries Supplemental Information Insurance in Force and Risk in Force - U.S. Mortgage Insurance Portfolio Portfolio by Credit Score IIF by FICO score December 31, 2024 September 30, 2024 December 31, 2023 ($ in thousands) >=760 $ 99,221,741 40.7 % $ 98,553,455 40.6 % $ 97,085,244 40.6 % 740-759 42,574,390 17.5 42,377,559 17.4 41,490,720 17.4 720-739 37,953,625 15.6 37,947,254 15.6 37,435,781 15.7 700-719 32,657,660 13.4 32,685,044 13.5 31,932,469 13.4 680-699 19,772,912 8.1 19,890,335 8.2 19,780,944 8.3 <=679 11,465,095 4.7 11,522,396 4.7 11,353,104 4.6 Total $ 243,645,423 100.0 % $ 242,976,043 100.0 % $ 239,078,262 100.0 % Weighted average credit score 746 746 746 Gross RIF by FICO score December 31, 2024 September 30, 2024 December 31, 2023 ($ in thousands) >=760 $ 26,860,197 40.3 % $ 26,614,399 40.2 % $ 25,752,549 40.2 % 740-759 11,799,832 17.7 11,715,485 17.7 11,268,607 17.6 720-739 10,512,364 15.8 10,485,311 15.8 10,179,683 15.9 700-719 9,067,640 13.6 9,044,551 13.7 8,687,001 13.6 680-699 5,440,776 8.2 5,451,406 8.2 5,330,894 8.3 <=679 2,932,708 4.4 2,926,840 4.4 2,842,640 4.4 Total $ 66,613,517 100.0 % $ 66,237,992 100.0 % $ 64,061,374 100.0 % Portfolio by LTV IIF by LTV December 31, 2024 September 30, 2024 December 31, 2023 ($ in thousands) 85.00% and below $ 14,738,289 6.0 % $ 15,555,555 6.4 % $ 19,869,776 8.3 % 85.01% to 90.00% 60,636,883 24.9 61,262,960 25.2 62,973,580 26.3 90.01% to 95.00% 127,152,954 52.2 125,919,529 51.8 119,764,184 50.1 95.01% and above 41,117,297 16.9 40,237,999 16.6 36,470,722 15.3 Total $ 243,645,423 100.0 % $ 242,976,043 100.0 % $ 239,078,262 100.0 % Weighted average LTV 93 % 93 % 93 % Gross RIF by LTV December 31, 2024 September 30, 2024 December 31, 2023 ($ in thousands) 85.00% and below $ 1,745,933 2.6 % $ 1,845,584 2.8 % $ 2,364,232 3.7 % 85.01% to 90.00% 14,961,779 22.5 15,120,025 22.8 15,494,172 24.2 90.01% to 95.00% 37,510,076 56.3 37,149,222 56.1 35,260,761 55.0 95.01% and above 12,395,729 18.6 12,123,161 18.3 10,942,209 17.1 Total $ 66,613,517 100.0 % $ 66,237,992 100.0 % $ 64,061,374 100.0 % Portfolio by Loan Amortization Period IIF by Loan Amortization Period December 31, 2024 September 30, 2024 December 31, 2023 ($ in thousands) FRM 30 years and higher $ 238,335,608 97.8 % $ 237,628,900 97.8 % $ 232,995,380 97.5 % FRM 20-25 years 1,133,494 0.5 1,199,947 0.5 1,685,700 0.7 FRM 15 years 1,231,952 0.5 1,191,749 0.5 1,505,759 0.6 ARM 5 years and higher 2,944,369 1.2 2,955,447 1.2 2,891,423 1.2 Total $ 243,645,423 100.0 % $ 242,976,043 100.0 % $ 239,078,262 100.0 %     Exhibit G Essent Group Ltd. and Subsidiaries Supplemental Information Other Risk in Force 2024 2023 ($ in thousands) December 31 September 30 June 30 March 31 December 31 GSE and other risk share (1): Risk in Force $ 2,240,284 $ 2,254,726 $ 2,304,885 $ 2,307,267 $ 2,244,944 Reserve for losses and LAE $ 51 $ 37 $ 33 $ 32 $ 29 Weighted average credit score 751 750 750 750 749 Weighted average LTV 82 % 82 % 82 % 82 % 82 % (1) GSE and other risk share includes GSE risk share and other reinsurance transactions. Essent Reinsurance Ltd. ("Essent Re") provides insurance or reinsurance relating to the risk in force on loans in reference pools acquired by Freddie Mac and Fannie Mae.   Exhibit H   Essent Group Ltd. and Subsidiaries Supplemental Information U.S. Mortgage Insurance Portfolio Vintage Data December 31, 2024 Insurance in Force Year Original Insurance Written ($ in thousands) Remaining Insurance in Force ($ in thousands) % Remaining of Original Insurance Number of Policies in Force Weighted Average Coupon % Purchase >90% LTV >95% LTV FICO < 700 FICO >= 760 Incurred Loss Ratio (Inception to Date) (1) Number of Loans in Default Percentage of Loans in Default 2010 - 2014 $ 60,668,851 $ 975,931 1.6 % 5,373 4.28 % 65.9 % 49.1 % 1.0 % 9.8 % 49.8 % 2.4 % 232 4.32 % 2015 26,193,656 766,918 2.9 4,325 4.29 75.0 57.2 5.6 16.9 41.3 2.1 209 4.83 2016 34,949,319 1,981,674 5.7 11,869 3.97 84.9 74.9 15.3 17.5 40.0 2.0 459 3.87 2017 43,858,322 3,512,218 8.0 21,796 4.31 90.8 82.3 24.6 21.3 36.3 3.1 1,024 4.70 2018 47,508,525 4,579,054 9.6 26,580 4.81 95.1 75.2 27.6 22.1 31.9 4.0 1,280 4.82 2019 63,569,183 10,173,254 16.0 50,262 4.24 89.4 72.3 25.9 19.0 34.9 3.7 1,833 3.65 2020 107,944,065 35,499,947 32.9 142,347 3.21 73.1 64.1 15.0 10.7 45.4 2.8 2,623 1.84 2021 84,218,250 50,162,523 59.6 169,271 3.10 89.9 67.4 17.0 13.8 40.3 6.3 3,857 2.28 2022 63,061,262 51,504,293 81.7 149,358 5.08 98.2 66.3 11.5 12.6 39.6 19.0 3,862 2.59 2023 47,666,852 41,118,618 86.3 116,747 6.63 98.8 73.0 18.8 11.1 38.5 19.7 2,398 2.05 2024 45,561,332 43,370,993 95.2 115,085 6.71 94.9 72.6 19.5 12.0 43.2 12.8 662 0.58 Total $ 625,199,617 $ 243,645,423 39.0 813,013 4.89 91.5 69.1 16.9 12.8 40.7 5.0 18,439 2.27 (1) Incurred loss ratio is calculated by dividing the sum of case reserves and cumulative amount paid for claims by cumulative net premiums earned.   Exhibit I Essent Group Ltd. and Subsidiaries Supplemental Information U.S. Mortgage Insurance Portfolio Reinsurance Vintage Data December 31, 2024 ($ in thousands) Insurance Linked Notes (1) Earned Premiums Ceded Deal Name Vintage Remaining Insurance in Force Remaining Risk in Force Original Reinsurance in Force Remaining Reinsurance in Force Losses Ceded to Date Original First Layer Retention Remaining First Layer Retention Quarter-to- Date Year-to-Date Reduction in PMIERs Minimum Required Assets (3) Radnor Re 2021-1 Aug. 2020 - Mar. 2021 $ 23,839,935 $ 6,533,211 $ 557,911 $ 190,062 $ — $ 278,956 $ 277,698 $ 1,849 $ 8,413 $ 138,631 Radnor Re 2021-2 Apr. 2021 - Sep. 2021 29,757,565 8,243,653 439,407 265,134 — 279,415 276,141 3,533 14,485 203,328 Radnor Re 2022-1 Oct. 2021 - Jul. 2022 27,859,437 7,621,952 237,868 175,026 — 303,761 300,105 3,598 15,076 161,024 Radnor Re 2023-1 Aug. 2022 - Jun. 2023 28,058,061 7,690,718 281,462 268,320 — 281,463 280,559 3,583 14,240 254,368 Radnor Re 2024-1 Jul. 2023 - Jul. 2024 29,033,466 8,025,937 363,366 331,415 — 256,495 256,495 4,274 4,747 245,247 Total $ 138,548,464 $ 38,115,471 $ 1,880,014 $ 1,229,957 $ — $ 1,400,090 $ 1,390,998 $ 16,837 $ 56,961 (5) $ 1,002,598     Excess of Loss Reinsurance (2) Earned Premiums Ceded Deal Name Vintage Remaining Insurance in Force Remaining Risk in Force Original Reinsurance in Force Remaining Reinsurance in Force Losses Ceded to Date Original First Layer Retention Remaining First Layer Retention Quarter-to- Date Year-to-Date Reduction in PMIERs Minimum Required Assets (3) XOL 2019-1 Jan. 2018 - Dec. 2018 $ 4,535,941 $ 1,195,244 $ 118,650 $ 76,144 $ — $ 253,643 $ 243,704 $ 627 $ 2,495 $ — XOL 2020-1 Jan. 2019 - Aug. 2019 5,760,682 1,522,699 55,102 29,152 — 215,605 211,678 263 1,072 — XOL 2022-1 Oct. 2021 - Dec. 2022 63,001,325 17,184,107 141,992 141,992 — 507,114 496,864 1,611 6,407 137,827 XOL 2023-1 Jan. 2023 - Dec. 2023 36,841,903 10,211,722 36,627 36,627 — 366,270 366,028 439 1,745 35,212 XOL 2024-1 Jan. 2024 - Dec. 2024 40,244,132 11,048,540 46,537 58,005 — 331,456 331,456 658 1,186 55,795 Total $ 150,383,983 $ 41,162,312 $ 398,908 $ 341,920 $ — $ 1,674,088 $ 1,649,730 $ 3,598 $ 12,905 $ 228,834 Quota Share Reinsurance (2) Losses Ceded Ceding Commission Earned Premiums Ceded Year Ceding Percentage Remaining Insurance in Force Remaining Risk in Force Remaining Ceded Insurance in Force Remaining Ceded Risk in Force Quarter-to-Date Year-to-Date Quarter-to-Date Year-to-Date Quarter-to-Date Year-to-Date Reduction in PMIERs Minimum Required Assets (3) Sep. 2019 - Dec. 2020 (4) $ 39,765,140 $ 10,882,461 $ 8,168,806 $ 2,206,351 $ 422 $ 276 $ 2,562 $ 9,926 $ 4,193 $ 16,643 $ 134,006 Jan. 2022 - Dec. 2022 20% 51,455,224 14,014,676 10,291,045 2,802,935 3,350 6,867 1,810 7,444 6,789 21,010 206,391 Jan. 2023 - Dec. 2023 17.5% 36,735,900 10,185,812 6,428,783 1,782,517 1,933 6,424 1,294 5,340 4,650 17,638 141,321 Jan. 2024 - Dec. 2024 15% 43,113,057 11,817,914 6,466,958 1,772,687 997 1,713 1,133 2,434 3,432 6,947 125,736 Total $ 171,069,321 $ 46,900,863 $ 31,355,592 $ 8,564,490 $ 6,702 $ 15,280 $ 6,799 $ 25,144 $ 19,064 $ 62,238 $ 607,454 (1) Reinsurance provided by unaffiliated special purpose insurers through the issuance of mortgage insurance-linked notes ("ILNs"). (2) Reinsurance provided by panels of reinsurers. (3) Represents the reduction in Essent Guaranty, Inc.'s Minimum Required Assets based on our interpretation of the PMIERs. (4) Reinsurance coverage on 40% of eligible single premium policies and 20% of all other eligible policies. (5) Excludes $81 of benefit in ceded premium on retired ILNs for the year ended December 31, 2024. Exhibit J Essent Group Ltd. and Subsidiaries Supplemental Information U.S. Mortgage Insurance Portfolio Geographic Data IIF by State December 31, 2024 September 30, 2024 December 31, 2023 CA 12.5 % 12.5 % 13.0 % FL 11.9 11.8 11.1 TX 11.1 10.9 10.5 CO 4.1 4.1 4.1 AZ 3.8 3.8 3.7 GA 3.7 3.7 3.4 WA 3.4 3.4 3.5 NC 3.0 3.0 2.9 NY 2.6 2.6 2.5 OH 2.6 2.6 2.6 All Others 41.3 41.6 42.7 Total 100.0 % 100.0 % 100.0 % Gross RIF by State December 31, 2024 September 30, 2024 December 31, 2023 CA 12.4 % 12.5 % 12.8 % FL 12.1 12.0 11.4 TX 11.4 11.2 10.9 CO 4.0 4.0 4.0 AZ 3.9 3.9 3.8 GA 3.8 3.8 3.4 WA 3.4 3.4 3.5 NC 3.0 3.0 2.9 OH 2.5 2.6 2.6 MI 2.5 2.5 2.5 All Others 41.0 41.1 42.2 Total 100.0 % 100.0 % 100.0 % Exhibit K Essent Group Ltd. and Subsidiaries Supplemental Information Rollforward of Defaults and Reserve for Losses and LAE U.S. Mortgage Insurance Portfolio Rollforward of Insured Loans in Default Three Months Ended 2024 2023 December 31 September 30 June 30 March 31 December 31 Beginning default inventory 15,906 13,954 13,992 14,819 13,391 Plus: new defaults (A) 11,136 9,984 8,119 8,260 9,007 Less: cures (8,408 ) (7,819 ) (7,956 ) (8,951 ) (7,418 ) Less: claims paid (183 ) (182 ) (183 ) (123 ) (148 ) Less: rescissions and denials, net (12 ) (31 ) (18 ) (13 ) (13 ) Ending default inventory 18,439 15,906 13,954 13,992 14,819 (A) New defaults remaining as of December 31, 2024 8,538 3,809 2,141 1,158 934 Cumulative cure rate (1) 23 % 62 % 74 % 86 % 90 % Total amount paid for claims (in thousands) $ 7,740 $ 5,749 $ 5,566 $ 3,605 $ 3,411 Average amount paid per claim (in thousands) $ 42 $ 32 $ 30 $ 29 $ 23 Severity 68 % 58 % 60 % 65 % 54 % Rollforward of Reserve for Losses and LAE Three Months Ended 2024 2023 ($ in thousands) December 31 September 30 June 30 March 31 December 31 Reserve for losses and LAE at beginning of period $ 274,926 $ 246,107 $ 253,565 $ 245,402 $ 226,617 Less: Reinsurance recoverables 30,867 26,022 26,570 24,005 20,656 Net reserve for losses and LAE at beginning of period 244,059 220,085 226,995 221,397 205,961 Add provision for losses and LAE occurring in: Current year 50,212 51,649 30,653 39,396 38,922 Prior years (12,976 ) (21,836 ) (31,880 ) (30,062 ) (19,912 ) Incurred losses and LAE during the period 37,236 29,813 (1,227 ) 9,334 19,010 Deduct payments for losses and LAE occurring in: Current year 1,569 637 478 1 330 Prior years 6,225 5,202 5,205 3,735 3,244 Loss and LAE payments during the period 7,794 5,839 5,683 3,736 3,574 Net reserve for losses and LAE at end of period 273,501 244,059 220,085 226,995 221,397 Plus: Reinsurance recoverables 36,655 30,867 26,022 26,570 24,005 Reserve for losses and LAE at end of period $ 310,156 $ 274,926 $ 246,107 $ 253,565 $ 245,402 (1) The cure rate is calculated by dividing new defaults remaining as of the reporting date by the original number of new defaults reported in the quarterly period and subtracting that percentage from 100%.   Exhibit L Essent Group Ltd. and Subsidiaries Supplemental Information Detail of Reserves by Default Delinquency U.S. Mortgage Insurance Portfolio December 31, 2024 Number of Policies in Default Percentage of Policies in Default Amount of Reserves Percentage of Reserves Defaulted RIF Reserves as a Percentage of Defaulted RIF ($ in thousands) Missed Payments: Two payments 6,691 36 % $ 32,672 11 % $ 522,644 6 % Three payments 3,154 17 26,278 9 250,696 10 Four to eleven payments 6,408 35 122,551 43 515,600 24 Twelve or more payments 2,022 11 93,269 33 153,376 61 Pending claims 164 1 11,174 4 12,478 90 Total case reserves 18,439 100 % 285,944 100 % $ 1,454,794 20 % IBNR 21,446 LAE 2,766 Total reserves for losses and LAE $ 310,156 Average reserve per default: Case $ 15.5 Total $ 16.8 Default Rate 2.27 % December 31, 2023 Number of Policies in Default Percentage of Policies in Default Amount of Reserves Percentage of Reserves Defaulted RIF Reserves as a Percentage of Defaulted RIF ($ in thousands) Missed Payments: Two payments 5,041 34 % $ 24,917 11 % $ 361,986 7 % Three payments 2,247 15 19,690 9 165,433 12 Four to eleven payments 5,421 37 97,424 43 417,876 23 Twelve or more payments 1,984 13 78,540 35 132,257 59 Pending claims 126 1 5,550 2 6,302 88 Total case reserves 14,819 100 % 226,121 100 % $ 1,083,854 21 % IBNR 16,959 LAE 2,322 Total reserves for losses and LAE $ 245,402 Average reserve per default: Case $ 15.3 Total $ 16.6 Default Rate 1.80 %   Exhibit M Essent Group Ltd. and Subsidiaries Supplemental Information Investments Available for Sale Investments Available for Sale by Asset Class Asset Class December 31, 2024 December 31, 2023 ($ in thousands) Fair Value Percent Fair Value Percent U.S. Treasury securities $ 547,290 9.3 % $ 996,382 18.9 % U.S. agency securities — — 7,195 0.1 U.S. agency mortgage-backed securities 1,125,436 19.2 821,346 15.6 Municipal debt securities 583,501 9.9 547,258 10.5 Non-U.S. government securities 69,798 1.2 67,447 1.3 Corporate debt securities 1,783,046 30.3 1,297,055 24.6 Residential and commercial mortgage securities 478,086 8.1 517,940 9.8 Asset-backed securities 631,959 10.8 564,995 10.8 Money market funds 657,605 11.2 444,121 8.4 Total investments available for sale $ 5,876,721 100.0 % $ 5,263,739 100.0 % Investments Available for Sale by Credit Rating Rating (1) December 31, 2024 December 31, 2023 ($ in thousands) Fair Value Percent Fair Value Percent Aaa $ 2,513,014 48.1 % $ 2,561,363 53.2 % Aa1 101,809 2.0 104,474 2.2 Aa2 301,080 5.8 291,501 6.0 Aa3 271,069 5.2 208,882 4.3 A1 511,076 9.8 377,188 7.8 A2 411,999 7.9 329,423 6.8 A3 463,616 8.8 253,081 5.3 Baa1 218,454 4.2 220,901 4.6 Baa2 198,193 3.8 226,449 4.7 Baa3 151,729 2.9 166,121 3.4 Below Baa3 77,077 1.5 80,235 1.7 Total (2) $ 5,219,116 100.0 % $ 4,819,618 100.0 % (1) Based on ratings issued by Moody's, if available. S&P or Fitch rating utilized if Moody's not available. (2) Excludes $657,605 and $444,121 of money market funds at December 31, 2024 and December 31, 2023, respectively.   Investments Available for Sale by Duration and Book Yield Effective Duration December 31, 2024 December 31, 2023 ($ in thousands) Fair Value Percent Fair Value Percent < 1 year $ 1,587,022 26.9 % $ 1,892,074 35.9 % 1 to < 2 years 544,630 9.3 371,583 7.1 2 to < 3 years 473,301 8.1 538,775 10.2 3 to < 4 years 445,614 7.6 402,668 7.6 4 to < 5 years 546,414 9.3 376,722 7.2 5 or more years 2,279,740 38.8 1,681,917 32.0 Total investments available for sale $ 5,876,721 100.0 % $ 5,263,739 100.0 % Pre-tax investment income yield: Three months ended December 31, 2024 3.66 % Year ended December 31, 2024 3.74 %   Holding company net cash and investments available for sale: ($ in thousands) As of December 31, 2024 $ 1,052,900 As of December 31, 2023 $ 693,507   Exhibit N Essent Group Ltd. and Subsidiaries Supplemental Information U.S. Mortgage Insurance Company Capital 2024 2023 December 31 September 30 June 30 March 31 December 31 ($ in thousands) U.S. Mortgage Insurance Subsidiaries: Combined statutory capital (1) (7) $ 3,594,381 $ 3,584,580 $ 3,530,462 $ 3,453,553 $ 3,376,117 Combined net risk in force (2) (7) $ 35,159,976 $ 34,893,957 $ 34,812,227 $ 34,463,082 $ 34,549,500 Risk-to-capital ratios: (3) Essent Guaranty, Inc. 9.8:1 10.0:1 10.2:1 10.3:1 10.6:1 Essent Guaranty of PA, Inc. (7) N/A 0.3:1 0.3:1 0.4:1 0.4:1 Combined (4) (7) N/A 9.7:1 9.9:1 10.0:1 10.2:1 Essent Guaranty, Inc. PMIERs Data (5): Available Assets $ 3,612,993 $ 3,598,725 $ 3,513,609 $ 3,464,119 $ 3,379,936 Minimum Required Assets 2,029,738 1,903,473 2,052,135 1,999,928 1,985,545 PMIERs excess Available Assets $ 1,583,255 $ 1,695,252 $ 1,461,474 $ 1,464,191 $ 1,394,391 PMIERs sufficiency ratio (6) 178 % 189 % 171 % 173 % 170 % Essent Reinsurance Ltd.: Stockholder's equity (GAAP basis) $ 1,773,044 $ 1,826,901 $ 1,793,777 $ 1,793,005 $ 1,758,665 Net risk in force (2) $ 23,250,018 $ 23,003,846 $ 22,770,165 $ 22,271,316 $ 22,043,926 (1) Combined statutory capital equals the sum of statutory capital of Essent Guaranty, Inc. plus Essent Guaranty of PA, Inc., prior to December 31, 2024, after eliminating the impact of intercompany transactions. Statutory capital is computed based on accounting practices prescribed or permitted by the Pennsylvania Insurance Department and the National Association of Insurance Commissioners Accounting Practices and Procedures Manual. (2) Net risk in force represents total risk in force, net of reinsurance ceded and net of exposures on policies for which loss reserves have been established. (3) The risk-to-capital ratio is calculated as the ratio of net risk in force to statutory capital. (4) The combined risk-to-capital ratio equals the sum of the net risk in force of Essent Guaranty, Inc. and Essent Guaranty of PA, Inc. divided by the combined statutory capital. (5) Data is based on our interpretation of the PMIERs as of the dates indicated. (6) PMIERs sufficiency ratio is calculated by dividing Available Assets by Minimum Required Assets. (7) Essent Guaranty of PA, Inc. provided reinsurance to Essent Guaranty, Inc. on certain policies originated prior to April 1, 2019. Effective December 31, 2024, Essent Guaranty of PA commuted its outstanding risk in force back to Essent Guaranty and surrendered its insurance license. Combined statutory capital and combined net risk in force as of December 31, 2024 are for Essent Guaranty only.   Exhibit O Essent Group Ltd. and Subsidiaries Supplemental Information Ratios and Reconciliation of Non-GAAP Financial Measures 2024 2023 December 31 September 30 June 30 March 31 December 31 Loss Ratio (1) 16.6 % 12.2 % (0.1 )% 4.0 % 7.9 % Expense Ratio (2) 28.7 % 26.5 % 26.1 % 27.1 % 27.0 % Combined Ratio 45.3 % 38.7 % 26.0 % 31.1 % 34.9 % We believe that loss, expense and combined ratios are important measures of our financial performance. As a result of the July 1, 2023 acquisitions of Essent Title Insurance (formerly Agents National Title) and Boston National Title (collectively "Title"), the consolidated loss, expense and combined ratios ("Consolidated Ratios") for the three months and year ended December 31, 2024 lack comparability with historical periods. In order to provide investors with more comparative information to historical periods, Essent has prepared the table below to reconcile the Consolidated Ratios to Consolidated Ratios Excluding Title, as shown below. Consolidated Ratios Excluding Title are financial measures that are not calculated under standards or rules that comprise accounting principles generally accepted in the United States (GAAP) and are referred to as non-GAAP measures. Consolidated Ratios Excluding Title are measures used to monitor our results and should not be viewed as segment results in accordance with ASC 280 or as a substitute for those measures determined in accordance with GAAP. The following table sets forth the reconciliation of the loss, expense and combined Consolidated Ratios Excluding Title to the most comparable GAAP amount for the three months and year ended December 31, 2024, in accordance with Regulation G: Three Months Ended December 31, 2024 Year Ended December 31, 2024 Consolidated Acquired Title Consolidated Excluding Title Consolidated Acquired Title Consolidated Excluding Title ($ in thousands) Revenues: Net premiums earned $ 244,465 $ 16,602 $ 227,863 $ 990,882 $ 66,206 $ 924,676 Net investment income 56,559 805 55,754 222,070 3,170 218,900 Realized investment losses, net (114 ) — (114 ) (2,350 ) — (2,350 ) Loss from other invested assets 6,889 — 6,889 7,375 — 7,375 Settlement services (3) 2,954 2,954 — 9,028 9,028 — Other income 4,274 389 3,885 15,899 1,743 14,156 Total revenues 315,027 20,750 294,277 1,242,904 80,147 1,162,757 Losses and expenses: Provision (benefit) for losses and LAE 40,975 3,722 37,253 81,220 6,038 75,182 Other underwriting and operating expenses (4) 62,437 18,162 44,275 233,032 57,727 175,305 Premiums retained by agents (5) 8,514 8,514 — 37,842 37,842 — Interest expense 8,151 — 8,151 35,319 — 35,319 Total losses and expenses 120,077 30,398 89,679 387,413 101,607 285,806 Loss ratio (1) 16.6 % 19.0 % 16.3 % 8.1 % 8.0 % 8.1 % Expense ratio (2) 28.7 % 136.4 % 19.4 % 27.1 % 127.0 % 19.0 % Combined ratio 45.3 % 155.4 % 35.7 % 35.2 % 135.0 % 27.1 % (1) Loss ratio is calculated by dividing the provision for losses and LAE by the sum of net premiums earned and settlement services revenue, if applicable. (2) Expense ratio is calculated by dividing the sum of other underwriting and operating expenses and premiums retained by agents by the sum of net premiums earned and settlement services revenue, if applicable. (3) Settlement services revenue is included in "Other income" within Exhibit A and Exhibit C. (4) Title expenses reflect only direct expenses of Title operations and do not include corporate or centralized support expense allocations. (5) Premiums retained by agents are included in "Other underwriting and operating expenses" within Exhibit A and Exhibit C.

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