8-K

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

Form 8-K

CURRENT REPORT

PURSUANT TO SECTION 13 OR 15(D)

OF THE SECURITIES EXCHANGE ACT OF 1934

Date of Report (Date of earliest event reported): November 10, 2021

Hippo Holdings Inc.

(Exact Name of Registrant as Specified in Its Charter)

Delaware	001-39711	32-0662604
(State or other jurisdiction of<br> <br>incorporation or organization)	(Commission<br> <br>File Number)	(I.R.S. Employer<br> <br>Identification Number)
150 Forest Avenue<br> <br>Palo Alto, California 94301<br> <br>650 294-8463
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(Address, including zip code, and telephone number, including area code, of Registrant’s principal executive offices)

(Former name or former address, if changed since last report)

Check the appropriate box below if the Form 8-K is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:

☐	Written communications pursuant to Rule 425 under the Securities Act
☐	Soliciting material pursuant to Rule 14a-12 under the Exchange Act
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☐	Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act
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☐	Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act
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Securities registered pursuant to Section 12(b) of the Act:

Title of each class	Trading<br> <br>Symbol(s)	Name of each exchange<br> <br>on which registered
Common stock, $0.0001 par value per share	HIPO	New York Stock Exchange
Warrants to purchase common stock	HIPO.WS	New York Stock Exchange

Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter).

Emerging growth company ☒

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐

Item 2.02 Results of Operations and Financial Condition

On November 10, 2021, Hippo Holdings Inc. (the “Company”) issued a shareholder letter and press release announcing certain financial results for the quarter ended September 30, 2021. A copy of the shareholder letter and press release are furnished as Exhibit 99.1 and 99.2 to this report, respectively.

The Company is making reference to non-GAAP financial information in the shareholder letter, the press release and the related conference call. A reconciliation of these non-GAAP financial measures to their nearest GAAP equivalents is provided in the shareholder letter.

The information in Item 2.02 of this Current Report on Form 8-K, including Exhibits 99.1 and 99.2 to this Current Report on Form 8-K, shall not be deemed to be “filed” for purposes of Section 18 of the Securities Exchange Act of 1934, as amended, or otherwise subject to the liabilities of that section or Sections 11 and 12(a)(2) of the Securities Act of 1933, as amended. The information contained in this Item 2.02 and in the accompanying Exhibits 99.1 and 99.2 shall not be incorporated by reference into any registration statement or other document filed by the Company with the Securities and Exchange Commission, whether made before or after the date of this Current Report, regardless of any general incorporation language in such filing, except as shall be expressly set forth by specific reference to this Item 2.02 and Exhibit 99.1 in such filing.

Item 9.01 Financial Statements and Exhibits

(d) Exhibits.

99.1	Shareholder letter dated November 10, 2021.
99.2	Press Release Announcing Financial Results for the Third Quarter Ended September 30, 2021.
104	Cover Page Interactive Data File (embedded within the Inline XBRL document)

SIGNATURES

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.

Date: November 10, 2021

HIPPO HOLDINGS, INC.
By:	/s/ STEWART ELLIS
	Stewart Ellis
	Chief Financial Officer

EX-99.1

Exhibit 99.1

Q3 2021 Letter to Shareholders

Key Highlights from Q3 200 $162M Continued Strong Growth Total Generated Premium 150 ‹ 94% growth in Total Generated Premium 100 $83M $56M ‹ Raising TGP annual guidance to +94% 50 $600-605m YoY 0 Q3 ‘19 Q3 ‘20 Q3 ‘21 ‹ $553m in Total Generated Premium in-Force; $52m increase QoQ 100 87% 89% Premium 81% Retention1 80 60 Improved Loss Ratio 40 ‹ 27pp YoY improvement +2pp 20 in Texas and California Gross Loss Ratio YoY 0 Q3 ‘19 Q3 ‘20 Q3 ‘21 ‹ 5pp YoY improvement in Attritional Loss Ratio 25 $21M Revenue ‹ Continued geographical diversification 20 15 $13M with 63% of new Hippo premium $11M outside of TX/CA 10 +64% 5 YoY 0 Combining Differentiated Q3 ‘19 Q3 ‘20 Q3 ‘21 Technology with Innovative Gross 200 Distribution Channels 155% Loss Ratio 150 128% ‹ Launching a new partnership with 100 PennyMac, accessing millions of incremental homeowners -27pp 50 n/a ‹ Differentiated technology allowing us YoY 0 Q3 ‘19 Q3 ‘20 Q3 ‘21 to quote millions of customers within days via APIs, unlocking national 80 68% scale partners Attritional 70 63% Loss Ratio2 60 ‹ Enabling our multi-carrier strategy by 50 dynamically assigning customers to 40 30 their optimal rate plan -5pp 20 10 n/a YoY 0 Q3 ‘19 Q3 ‘20 Q3 ‘21 Letter to Shareholders | Q3 2021 2

Delivering On Our Promise Dear Shareholders, Q3 was an incredibly strong quarter for Hippo. Our results demonstrate exciting progress in the areas of our business that matter most. We delivered robust growth, improved our loss ratio, and made a number of investments which will strengthen our foundation for the future. Total Generated Premium grew 94% year over year. Premium retention increased to 89%. And customer satisfaction remained among the best in class. We are now more convinced than ever that partnering with our customers to proactively protect their homes and prevent losses is setting a new standard for the industry and is positioning Hippo for long-term success. Our omni-channel distribution strategy continues to deliver. In addition to the strong results in our direct, independent agent, and builder channels, we launched a major new partnership with national home lender PennyMac, giving us the opportunity to offer quotes to millions of additional homeowners. Reflecting our strong performance in Q3 and our expectations of continued momentum in Q4, we are raising our full year guidance for Total Generated Premium from the $560 to $570 million we shared last quarter, to $600 to $605 million. We also delivered an improved loss ratio during the quarter, coming in at 128% vs. 155% a year ago. While we are pleased by the progress, we still have work to do to reach our long-term targets. Later in this letter we are describing how we are using our proprietary technology to learn and implement change at an accelerated pace to continue our momentum in this area. Another advantage that we now have is a world-class insurance leadership team. In recent months, we have welcomed new leaders of our actuarial, underwriting, and risk functions, and announced the future addition of a new leader for our claims organization. This team brings many decades of experience at leading insurance companies and sees the power in the technology platform that we’ve built to deliver better insurance results for Hippo. Letter to Shareholders | Q3 2021 3

We are excited by the rapid operational progress we are making under these new leaders. It will take time for the changes we are making to work their way into our reported results, but early signs are positive and we are more confident than ever that we will deliver. In an unpredictable environment impacted by pandemics, climate change, and inflation, we believe that our tech-driven operating agility allows us to act more quickly and decisively than our competitors, and puts us in a better position to win long-term. Assaf Wand Founder & Ceo Letter to Shareholders | Q3 2021 4

Q3 Results Q3 Highlights Total Generated Premium Revenue Premium Retention1 $162M 89% $21M +64% YoY Gross Loss Attritional Ratio Loss Ratio 128% 63% Q3 Financials: KPIs and Non-GAAP Financials Our third quarter results highlight the ongoing strong demand from customers for our products and services, our improving loss ratio, and early indications that we are seeing the benefits of operating leverage as we grow. (1) On Hippo Programs Letter to Shareholders | Q3 2021 5

Total Generated Premium Up 94%, Revenue Up 64% Total Generated Premium, or TGP, was up 94% year over year to $162m in Q3. Pro-forma for the acquisition of Spinnaker, TGP was up 51% year over year. Additions to our book of business, or “new” total generated premium were up 66% year over year (on a proforma basis) to $75m, which is an acceleration from 53% last quarter. We continue to geographically diversify. Led by growth in Colorado and New Jersey, 63% of new Hippo homeowners premium in the quarter came from states outside of Texas and California, up from 55% last quarter. As our business grows nationally, we are continuing to develop a much more balanced portfolio of geographic exposure, which should help reduce the volatility of our loss ratio over time. Revenue was up 64% year over year to $21 million, driven by the growth in Total Generated Premium. Customers Stay With Us Premium retention remained strong and continued to edge upward, reaching 89% in the quarter. Our high retention rates are a driver of top line growth, and because loss frequency declines with customer age, a benefit to improving loss ratio over time. Loss Ratio Improving, But There’s Much Work Ahead As we highlighted last quarter, geographic concentration in homeowners insurance can result in higher loss ratio volatility. While our concentration in north Texas worked against us in the first half of 2021 due to historically bad weather, it benefited us in Q3. The industry was hit hard by the devastation of Hurricane Ida this quarter, but we managed to improve our gross loss ratio to 128%, down from 155% last year. Prior period reserves remained stable with minor favorable development. Digging deeper into the components of loss ratio, catastrophic weather losses contributed 50 percentage points of loss ratio in Q3, versus 75 percentage points a year ago. Our underlying attritional loss ratio was 63%, a five percentage point improvement from a year ago. Letter to Shareholders | Q3 2021 6

We’ve made several enhancements to promote better results. ‹ Leveraging our new carrier relationships as we implement our multi-carrier strategy. Ally filings have been made in 14 states and Incline have been in Massachusetts and North Carolina. These will allow us more flexibility in matching the right price to a customer’s risk ‹ Incorporated 5 new data sources during the quarter and added 50 new variables to our data sets which we expect to introduce in Q4 ‹ Adjusted rates, up and down, including a recently approved 24% increase in California ‹ Enhanced our home inspection processes ‹ Continued to diversify our portfolio geographically. Actions to restrict new business in portions of CA and TX, our two largest states, have been combined with growth in other strategic states Increased Sales and Marketing Efficiency Sales and Marketing increased 27% year over year to $22.4 million and we continue to generate more dollars of new TGP for each dollar of sales and marketing we spend. This trend is giving us increased confidence that our message is resonating with potential customers and as a result, we expect to invest more aggressively in 2022 to build a differentiated and nationally recognized brand in home protection. Continued Investment in Technology and Development Technology and Development increased 46% year over year to $8.3 million as we continue to invest in our platform by integrating new data sources, improving our underwriting model, onboarding new partnerships, expanding into new states, and launching new products. General and Administrative Costs General & Administrative Expenses decreased 17% to $13.4 million, with the increased costs of operating as a public company being more than offset by reductions year over year in stock-based compensation. Letter to Shareholders | Q3 2021 7

Balance Sheet and Cash Position Our cash, cash equivalents and investments at the end of the quarter stood at around $850m, positioning us well for an extended period of growth and investment. During the quarter, our AM Best rating on our insurance company, Spinnaker, was affirmed at A-. Net Loss and Adjusted EBITDA Hippo Net Loss was $30.9 million or $0.08 per share compared to a Net Loss of $38.6 million or $0.44 per share in the prior year quarter with the loss driven by the costs of our ongoing investments in platforms, technology and brand and loss ratio levels running above the targets we expect to achieve. Raising TPG Guidance Looking forward, we remain confident in our ability to execute our growth strategy and believe we will exceed the forecast we shared with you previously. We are increasing our full year guidance for Total Generated Premium from a range of $560 to $570 million to $600-$605 million. Letter to Shareholders | Q3 2021 8

Balance Sheet and Cash Position Our cash, cash equivalents and investments at the end of the quarter stood at around $850m, positioning us well for an extended period of growth and investment. During the quarter, our AM Best rating on our insurance company, Spinnaker, was affirmed at A-. Net Loss and Adjusted EBITDA Hippo Net Loss was $30.9 million or $0.08 per share compared to a Net Loss of $38.6 million or $0.44 per share in the prior year quarter with the loss driven by the costs of our ongoing investments in platforms, technology and brand and loss ratio levels running above the targets we expect to achieve. Raising TPG Guidance Looking forward, we remain confident in our ability to execute our growth strategy and believe we will exceed the forecast we shared with you previously. We are increasing our full year guidance for Total Generated Premium from a range of $560 to $570 million to $600-$605 million. Letter to Shareholders | Q3 2021 8 Appendix

Key Operating and Financial Metrics Three Months Ended Nine Months Ended September 30, September 30, 2021 2020 2021 2020 ($ in millions) Total Generated Premium $ 161.7 $ 83.2 $ 443.5 $ 227.6 Total revenue 21.3 13.0 59.1 35.2 Net Loss attributable to Hippo (30.9) (38.6) (310.7) (87.4) Adjusted EBITDA (48.4) (23.9) (126.4) (64.3) Gross Loss Ratio 128 % 155 % 158 % 147 % Net Loss Ratio 241 % 185 % 217 % 160 % Consolidated Statements of Operations and Compressive Loss (in millions, unaudited) Three Months Ended September 30, Nine Months Ended September 30, 2021 2020 2021 2020 Revenue: Net earned premium $ 10.9 $ 4.7 $ 29.9 $ 8.7 Commission income, net 6.6 6.3 18.2 21.8 Service and fee income 3.7 1.8 10.8 3.9 Net investment income 0.1 0.2 0.2 0.8 Total revenue 21.3 13.0 59.1 35.2 Expenses: Losses and loss adjustment expenses 26.3 8.7 65.0 13.9 Insurance related expenses 7.1 5.2 23.2 13.0 Technology and development 8.3 5.7 22.7 13.2 Sales and marketing 22.4 17.6 69.3 52.9 General and administrative 13.4 16.2 30.6 27.3 Interest and other (income) expense (26.4) 0.1 156.5 4.2 Total expenses 51.1 53.5 367.3 124.5 Loss before income taxes (29.8) (40.5) (308.2) (89.3) Income taxes (benefit) expense 0.1 (1.9) 0.4 (1.9) Net loss (29.9) (38.6) (308.6) (87.4) Net income attributable to noncontrolling interests, net of tax 1.0 — 2.1 — Net loss attributable to Hippo $ (30.9) $ (38.6) $ (310.7) (87.4) Other comprehensive income: Change in net unrealized gain or loss on investments, net of tax (0.1) (0.2) (0.4) (0.2) Comprehensive loss attributable to Hippo $ (31.0) $ (38.8) $ (311.1) $ (87.6) Per share data: Net loss attributable to Hippo—basic and diluted $ (30.9) $ (38.6) $ (310.7) $ (87.4) Weighted-average shares used in computing net loss per share attributable to Hippo—basic and diluted 386,882,408 87,383,796 175,690,513 85,864,640 Net loss per share attributable to Hippo—basic and diluted $ (0.08) $ (0.44) $ (1.77) $ (1.02)

Consolidated Balance Sheets (in millions, unaudited) September 30, 2021 December 31, 2020 (Unaudited) Assets Investments: Fixed maturities available-for-sale, at fair value (amortized cost: $60.1 million and $55.9 million, respectively) $ 59.7 $ 56.0 Short-term investments 12.3 — Total investments 72.0 56.0 Cash and cash equivalents 778.7 452.3 Restricted cash 44.1 40.1 Accounts receivable, net of allowance of $0.4 million and $0.5 million, respectively 60.3 37.1 Reinsurance recoverable on paid and unpaid losses and LAE 279.4 134.1 Prepaid reinsurance premiums 228.1 129.4 Ceding commissions receivable 38.0 21.3 Capitalized internal use software 21.6 14.7 Goodwill 53.2 47.8 Intangible assets 33.7 33.9 Other assets 49.1 12.7 Total assets $ 1,658.2 $ 979.4 Liabilities, convertible preferred stock, and stockholders’ equity (deficit) Liabilities: Loss and loss adjustment expense reserve $ 239.7 $ 105.1 Unearned premiums 244.3 150.3 Reinsurance premiums payable 162.1 86.1 Provision for commission 11.2 28.2 Fiduciary liabilities 23.8 17.5 Convertible promissory notes — 273.0 Derivative liability on notes — 113.3 Contingent consideration liability 11.5 12.0 Preferred stock warrant liabilities — 22.9 Accrued expenses and other liabilities 61.9 25.7 Total liabilities 754.5 834.1 Commitments and contingencies (Note 12) Convertible preferred stock: Preferred stock — 344.8 Stockholders’ equity (deficit) Common stock — — Additional paid-in capital 1,469.1 56.9 Accumulated other comprehensive (loss) income (0.4) 0.1 Accumulated deficit (567.3) (256.6) Total Hippo stockholders’ equity (deficit) 901.4 (199.6) Noncontrolling interest 2.3 0.1 Total stockholders’ equity (deficit) 903.7 (199.5) Total liabilities, convertible preferred stock, and stockholders’ equity (deficit) $ 1,658.2 $ 979.4

Consolidated Statements of Cash Flows (in millions, unaudited) Nine Months Ended September 30, 2021 2020 Cash flows from operating activities: Net loss $ (308.6) $ (87.4) Adjustments to reconcile net loss to net cash used in operating activities: Depreciation and amortization 7.7 4.8 Share–based compensation expense 9.8 15.0 Change in fair value of preferred stock warrant liabilities 121.6 4.2 Change in fair value of contingent consideration liability 2.1 1.8 Change in fair value of derivative liability on notes 61.4 — Amortization of debt discount 20.4 — Gain on extinguishment of debt (47.0) — Change in fair value of warrant liability (5.6) — Non-cash service expense 7.0 — Other 6.6 0.8 Changes in assets and liabilities: Accounts receivable, net (22.4) (24.3) Reinsurance recoverable on paid and unpaid losses and LAE (145.3) (27.7) Ceding commissions receivable (16.7) (0.4) Prepaid reinsurance premiums (98.7) (11.0) Other assets (32.6) (8.7) Provision for commission (16.9) 7.2 Fiduciary liabilities 6.4 10.1 Accrued expenses and other liabilities 19.0 0.9 Loss and loss adjustment expense reserves 134.6 31.2 Unearned premiums 94.0 24.9 Reinsurance premiums payable 76.1 22.3 Net cash used in operating activities (127.1) (36.3) Cash flows from investing activities: Capitalized internal use software costs (1.4) (6.5) Purchase of intangible assets (3.3) — Purchases of property and equipment (0.1) (0.4) Purchases of investments (24.8) — Maturities of investments 2.0 74.9 Sales of investments 5.6 28.6 Cash paid for acquisitions, net of cash acquired (0.6) (71.8) Other (0.3) — Net cash (used in) provided by investing activities (22.9) 24.8 Cash flows from financing activities: Proceeds from Series D preferred stock, net of issuance costs — 4.9 Proceeds from Series E preferred stock, net of issuance costs — 149.7 Proceeds from the exercise of preferred stock warrants 29.0 — Proceeds from reverse recapitalization, net of redemptions, secondaries and costs 449.3 — Proceeds from exercise of options 3.9 1.0 Payments of contingent consideration (1.8) (3.2) Net cash provided by financing activities 480.4 152.4 Net increase in cash, cash equivalents, and restricted cash 330.4 140.9 Cash, cash equivalents, and restricted cash at the beginning of the period 492.4 42.0 Cash, cash equivalents, and restricted cash at the end of the period $ 822.8 $ 182.9

Reconciliation of Non-GAAP Financial Measures to their Most Directly Comparable GAAP Financial Measures (in millions, unaudited) Three Months Ended Nine Months Ended September 30, September 30, 2021 2020 2021 2020 Net loss attributable to Hippo $ (30.9) $ (38.6) $ (310.7) $ (87.4) Adjustments: Net investment income (0.1) (0.2) (0.2) (0.8) Depreciation and amortization 2.7 1.7 7.7 4.7 Interest expense 4.2 — 26.1 — Stock-based compensation 4.5 13.2 9.8 15.0 Fair value adjustments 16.2 — 177.3 4.2 Gain on extinguishment of convertible promissory notes (47.0) — (47.0) — Contingent consideration charge 0.8 1.9 2.1 1.9 Other one-off transactions 1.1 — 8.1 — Income taxes (benefit) expense 0.1 (1.9) 0.4 (1.9) Adjusted EBITDA(1) $ (48.4) $ (23.9) $ (126.4) $ (64.3) (1) In previous disclosures, our Adjusted EBITDA calculation included an adjustment for capitalization of internal use software costs. We no longer include this adjustment, as we believe the current presentation is more relevant and in-line with our peers and relevant comparable companies. We have adjusted the historical periods accordingly. Supplemental Financial Information (in millions, unaudited) Total Generated Premium Three Months Ended September 30, Nine Months Ended September 30, 2021 2020 Change 2021 2020 Change Gross Written Premium $ 129.0 $ 28.9 $ 100.1 $ 356.7 $ 43.5 $ 313.2 Gross Placed Premium 32.7 54.3 (21.6) 86.8 184.1 (97.3) Total Generated Premium $ 161.7 $ 83.2 $ 78.5 $ 443.5 $ 227.6 $ 215.9 Gross and Net Loss Ratios Three Months Ended Nine Months Ended September 30, September 30, 2021 2020 2021 2020 Gross losses and LAE $ 130.0 $ 37.4 $ 416.2 $ 42.6 Gross earned premium 101.2 24.2 262.7 29.0 Gross loss ratio 128 % 155 % 158 % 147 % Net Losses and LAE $ 26.3 $ 8.7 $ 65.0 $ 13.9 Net Earned Premium 10.9 4.7 29.9 8.7 Net Loss Ratio 241 % 185 % 217 % 160 %

Three Months Ended Nine Months Ended September 30, September 30, 2021 2020 2021 2020 PCS component of Gross Loss Ratio1 50 % 75 % 90 % 73 % Large loss component of the Gross Loss Ratio2 15 % 12 % 13 % 13 % Non-PCS, non-large loss component of Gross Loss Ratio 63 % 68 % 55 % 61 % Gross Loss Ratio 128 % 155 % 158 % 147 % (1) Refers to Losses from named Property Claims Services events (2) Defined as the excess portion of non-weather losses in excess of $100k Loss and Allocated Loss Adjustment Expense per claim Three Months Ended Nine Months Ended September 30, September 30, 2021 2020 2021 2020 Underwriting costs $ 2.0 $ 1.1 $ 5.6 $ 3.2 Amortization of capitalized internal use software 1.3 0.7 3.4 1.8 Employee-related costs 1.4 1.0 4.4 2.7 Amortization of deferred direct acquisition costs, net 1.9 0.6 4.9 1.6 Other 0.5 1.8 4.9 3.7 Total $ 7.1 $ 5.2 $ 23.2 $ 13.0 Deferred direct acquisition costs were $12.1 million and $22.8 million for the three and nine months ended September 30, 2021, of which $10.2 million and $17.9 million were offset by ceding commission income. Deferred direct acquisition costs were $0.6 million and $1.6 million for the three and nine months ended September 30, 2020, of which $0 million was offset by ceding commission income.

Improved Operating Leverage (In Millions) $181.7 +94% $83.2 +12% $39.5 $44.1 0 Q3’20 Q3’21 Q3’20 Q3’21 Total Generated Premium Operating Expense1 (1) Sales and Marketing, Technology and Development and General and Administrative Geographical Diversification +8pp YoY 63% 55% 22% Q3’19 Q3 ‘20 Q3 ‘21 Letter to Shareholders | Q3 2021 15

EX-99.2

Exhibit 99.2

Hippo Raises Full Year Growth Outlook for Total Generated Premium

Reflecting Strong Performance in the Third Quarter 2021 and Ongoing

Business Momentum

TotalGenerated Premium grew to $162 million

Hippo homeowners premium retention grew to 89%

Gross Loss Ratio improving

Raising 2021 full year outlook for Total Generated Premium from $560-$570 million to $600-$605 million

PALO ALTO, CALIF. — Nov 10, 2021— Hippo Holdings Inc. (NYSE: HIPO), the home insurance group that created a new standard of care and protection for homeowners, today announced its financial results for the third quarter and nine months ended September 30, 2021. Hippo’s third quarter financial results and management commentary can be found by accessing the shareholder letter posted on the Company’s investor relations website at https://investors.hippo.com/

“The third quarter was incredibly strong for Hippo,” said Assaf Wand, Founder and CEO of Hippo. “Our results demonstrate exciting progress in the areas of our business that matter most. We delivered robust growth, improved our loss ratio, and made a number of investments which will strengthen our foundation for the future.”

Webcast and Conference Call Details

Date:	Wednesday, November 10, 2021
Time:	5:00 p.m. Eastern Time / 2:00 p.m. Pacific Time
Dial-in:	844-200-6205 (U.S.) / +1 929-526-1599 (International)
Conf ID:	540607

Webcast: https://event.on24.com/wcc/r/3409375/9C33F2C71C58AC810819A8B736D13C60

A replay of the webcast will be made available after the call in the investor relations section of the company’s website at https://investors.hippo.com/

Forward-looking statement safe harbor

Certain statements included in this press release that are not historical facts are forward-looking statements for purposes of the safe harbor provisions under the United States Private Securities Litigation Reform Act of 1995. Forward-looking statements generally are accompanied by words such as “believe,” “may,” “will,” “estimate,” “continue,” “anticipate,” “intend,” “expect,” “should,” “would,” “plan,” “predict,” “potential,” “seem,” “seek,” “future,” “outlook,” and similar expressions that predict or indicate future events or trends or that are not statements of historical matters. These forward-looking statements include, but are not limited to, statements regarding estimates and forecasts of other financial and performance metrics and projections of market opportunity. These statements are based on various assumptions, whether or not identified in this press release, and on the current expectations of the respective management of Hippo and are not predictions of actual performance. These forward-looking statements are provided for illustrative purposes only and are not intended to serve as, and must not be relied on by an investor as, a guarantee, an assurance, a prediction, or a definitive statement of fact or probability. Actual events and circumstances are difficult or impossible to predict and will differ from assumptions. Many actual events and circumstances are beyond the control of Hippo. These forward-looking statements are subject to a number of risks and uncertainties, including changes in domestic and foreign business, market, financial, political, and legal conditions; natural or man-made catastrophes such as hurricanes, typhoons, earthquakes, floods, climate change (including effects on weather patterns; greenhouse gases; sea, land and air temperatures; sea levels; and rain and snow), nuclear accidents, pandemics (including COVID-19), or terrorism; continued impact of COVID-19 and related risks; ability to collect reinsurance recoverable, credit developments of reinsurers, and any delays with respect thereto and changes in the cost, quality, or availability of reinsurance; effects of data privacy or cyber laws or regulation; actual amount of new and renewal business, market acceptance of products, and risks associated with the introduction of new products and services and entering new markets; ability to increase use of data analytics and technology as part of business strategy; ability to attract, retain, and expand customer base; ability to compete effectively in the industry; effects of seasonal trends on results of operations; risks relating to the uncertainty of the projected financial information with respect to Hippo; risks related to the performance of Hippo’s business and the timing of expected business or revenue milestones; the effects of competition on Hippo’s business; If any of these risks materialize or our assumptions prove incorrect, actual results could differ materially from the results implied by these forward-looking statements. There may be additional risks that neither Hippo presently knows, or that Hippo currently believes are immaterial, that could also cause actual results to differ from those contained in the forward-looking statements. In addition, forward-looking statements reflect Hippo’s expectations, plans, or forecasts of future events and views as of the date of this press release. Hippo anticipates that subsequent events and developments will cause Hippo’s assessments to change. However, while Hippo may elect to update these forward-looking statements at some point in the future, Hippo specifically disclaims any obligation to do so. These forward-looking statements should not be relied upon as representing Hippo’s assessments of any date subsequent to the date of his press release. Accordingly, undue reliance should not be placed upon the forward-looking statements.

About Hippo

Hippo’s goal is to make homes safer and better protected so customers spend less time worrying about the burdens of homeownership and more time enjoying their homes and the life within. Harnessing real-time data, smart home technology, and a growing suite of home services, we are creating the first integrated home protection platform. Hippo is headquartered in Palo Alto, California with offices in Austin and Dallas, Texas and insurance products available to more than 80 percent of U.S. homeowners in 37 states. Hippo Insurance Services is a licensed property casualty insurance agent with commercial and personal lines products underwritten by various insurance companies. For more information, including licensing information, visit http://www.hippo.com.

Investors:

Cliff Gallant, VP of Investor Relations

investors@hippo.com

Press:

Andrea Collins, VP of Marketing

press@hippo.com

Source: Hippo Holdings Inc.