Porch Group Announces Agreement To Acquire Allied Trust

Porch Group, Inc. PRCH.O:

• PORCH GROUP ANNOUNCES AGREEMENT TO ACQUIRE ALLIED TRUST

• PORCH GROUP - DEAL EXPECTED TO ADD $200 MILLION RWP AND $25 MILLION ADJUSTED EBITDA (EXCLUDING RECIPROCAL) IN FIRST FULL YEAR

• PORCH GROUP - EXPECTS TO FILE FOR ATM EQUITY OFFERING PROGRAM TO SELL PRCH SHARES

• PORCH GROUP - TO BUY MGA AND CAPTIVE REINSURANCE ENTITY FOR $95 MILLION

• PORCH GROUP: RECIPROCAL TO ACQUIRE ALLIED TRUST'S INSURANCE CARRIER FOR INITIAL BASE PRICE OF $55 MILLION IN CASH, PLUS $50 MILLION OF DEFERRED CONSIDERATION

• PORCH GROUP: EXPECTS TO FILE FOR AN ATM PROGRAM THAT WOULD PROVIDE RECIPROCAL OR PORCH GROUP WITH ABILITY TO SELL PRCH SHARES

Further company coverage: PRCH.O