Corporate Overview

April 2017

Disclaimer

Safe Harbor Statement

This presentation contains “forward-looking statements” that are based on management’s beliefs and assumptions and on information currently available to

management. Most forward-looking statements contain words that identify them as forward-looking, such as “anticipates,” “believes,” “continues,” “could,”

“seeks,” “estimates,” “expects,” “intends,” “may,” “plans,” “potential,” “predicts,” “projects,” “should,” “will,” “would” or similar expressions and the negatives of

those terms that relate to future events. Forward-looking statements involve known and unknown risks, uncertainties and other factors that may cause actual

results, performance or achievements of Heritage Insurance Holdings, Inc. (“Heritage”) to be materially different from any projected results, performance or

achievements expressed or implied by the forward-looking statements. Forward-looking statements represent the beliefs and assumptions of Heritage only as of

the date of this presentation and Heritage undertakes no obligation to update or revise publicly any such forward-looking statements, whether as a result of new

information, future events or otherwise. As such, Heritage’s future results may vary from any expectations or goals expressed in, or implied by, the forward-

looking statements included in this presentation, possibly to a material degree.

Heritage cannot assure you that the assumptions made in preparing any of the forward-looking statements will prove accurate or that any long-term financial or

operational goals or targets will be realized. For a discussion of some of the important factors that could cause Heritage’s results to differ materially from those

expressed in, or implied by, the forward-looking statements included in this presentation, investors should refer to risks identified in Heritage’s Annual Report on

Form 10-K for the year ended December 31, 2016 filed with the Securities and Exchange Commission (the “SEC”) on March 15, 2017, subsequent Quarterly

Reports on Form 10-Q and Heritage’s other filings with the SEC.

1

Investment Story

Executing Multiple Business Diversification & Expansion Initiatives

Strong, Conservative Capital Structure

Robust Reinsurance Program with Highly Rated Reinsurers

Proven Underwriting & Distribution Coupled with Unique Claims Servicing Model

Capital Return via Quarterly Dividend and Share Repurchase Program

Seasoned Management Team Attuned to Demands of an Evolving Marketplace

2

Strategic Approach to New Market Opportunities

3

2012 2013 2014 2015 2016

• Initial $23MM

equity raise

• Began writing

voluntary

policies in

Florida

• Participated in

1st Citizens

take-out

• Formed the CAN

Managed Repair

Vendor Program

• Second $33MM

equity raise

• Formed Osprey

Re

• Assumed 5

Citizens personal

residential

policies totaling

~90K

• IPO: NYSE “HRTG”

• Acquired the assets

of SVM (water

mitigation) & formed

Heritage Claims

Response Team

• Built commercial

residential team

• Acquired SSIC

policies

• Assumed ~57K

personal and 2.2K

commercial policies

• Acquired BRC

Restoration

Specialists

• Approved to write

P&C in North &

South Carolina

• Assumed ~68K

personal and ~830

commercial

policies

• Approved to write

P&C in Alabama,

Mississippi & Georgia

• Began writing P&C

policies in NC & SC

• Closed acquisition of

Zephyr in Hawaii

• Launched General

Liability in 1Q16

• Partnership with

National General

• $79.5MM senior note

private placement

2017

• Began writing

P&C policies in

Georgia

Expansion: Growing Footprint Solidifies Heritage

as Strong Regional Carrier in Southeast

Multi-State Expansion

As of 12/31/16

• Hawaii: Zephyr has 73,385 policies-in-force

• North Carolina: continues to ramp with 6,814

policies-in-force

• South Carolina: first policies written in 3Q16;

428 policies in force

• Georgia: first policy written in 1Q17

• Alabama & Mississippi licensed to do

business

4

Seasoned Management Team

5

Ernie Garateix, Chief Operating Officer

• Practiced insurance executive with over 20 years in the FL marketplace

• Hands-on management style promotes the continued success of the Company’s technology

platform consolidation and new state expansion initiatives

Bruce Lucas, Chairman & Chief Executive Officer

• Entrepreneurial CEO with out-of-box thinking provides innovation in approach to marketplace

• Pioneered initiatives at the Company in multi-year catastrophe bonds; recognized for market-

leading business practices with the 2015 Insurer of the Year award by Insurance Insider

Rich Widdicombe, President

• Accomplished property and casualty executive with over 35 years in the industry

• Identified the importance of in-house claim mitigation early in company history and executed the

acquisition of water remediation assets from SVM

Steve Martindale, Chief Financial Officer

• Experienced insurance executive with over 32 years in the insurance industry

• Newest member of the management team; background in financial reporting, risk assessment,

corporate governance & regulatory compliance

Executive team has a wealth of experience and most have worked in the industry for most of their careers

Superior Underwriting & Continual Improvement

• Key underwriting factors:

Suitability of risk

Adequacy of premium for risk

Impact on overall geographic mix

• Internally underwritten / reviewed by Chief Actuary

• Strict underwriting guidelines promote profitability

Active inspection process

Ineligible properties

• Leverage proprietary data analytics and capabilities

• Fully integrated with reinsurance strategy – ability to model impact to reinsurance costs in real time

In-house Underwriting Capability

Minimal Exposure to Risky Structures

Peers

Sinkholes: X

Screen Enclosures: X

Aging Roof: X

Existing Damage: X

Vacant / Unoccupied: X

Less than .1% of

policies have screen

enclosure coverage

~40% of Hurricane Wilma losses were related to screen enclosures 6

• Agreements with five large national insurance companies / agencies:

Strong, Diverse Distribution Relationships

• Florida: ~1,500 independent agents actively writing policies

Partnership with FAIA Member Services (“FMS”) expands agent relationships

• Hawaii: ~80 appointed agents writing polices

• North Carolina: ~250 agents writing policies

Partnership with National General; integrated quoting platform

• South Carolina: ~70 agents writing policies

Established relationship with Strategic Insurance Agency Alliance (SIAA)

• Georgia: ~30 agents writing policies

Established relationship with SIAA

Independent Agent Networks – Expansion in New States

Agency Relationships

7

Deep Claims Department

24/7 first notice of loss (FNOL)

• FNOL dispatches mitigation teams to policyholder home

• In-house claims adjusters and examiners

• In-house legal reduces losses

Vertically integrated water division

• Typical response time is less than 2 hours from FNOL

• Prevents AOB contractors from entering home

Vertically integrated construction division

• Typical response time is less than 2 hours from FNOL

• Prevents AOB contractors from entering home

• Reduces claims cycle

• Improves customer satisfaction

Overflow water and construction issues managed by CAN

• Pre-negotiated vendor rates lower repair costs

• Ensures fast response times

~200 employees

are dedicated to

the claims

process

8

Differentiated Claims Model

•In-house adjusters and examiners

•Constant follow up with client on repair process

•Water division/BRC typically respond within 2 hours

•24/7 first notice of loss

•Claims sent to water division & BRC

Notice of Loss

Mitigation and repair

Adjusting

Fast track claims & customer service

reps

Benefits:

• Prevent AOB contractors

for entering the home

• Decreased claims severity

• Reduced loss experience

• Shortened claim tail

• Increased renewal rates

9

Robust Reinsurance Program

Conservatism & Strength of Program

• Over $3B in coverage available from a diversified

panel of reinsurance capacity

• Unmatched level of coverage compared to peers;

testament to our conservative approach and ability

to withstand severe events

• Heritage purchases more multi-year coverage than

any of our peers at over $850MM; provides

increased certainty on reinsurance costs from year

to year despite market fluctuations

• Heritage has less capital/surplus (low retentions) at

risk versus our peers

• $860MM in total reinstated limit available, with

$825MM prepaid

$1.3B

$1.2B

$339M

(1) For the year ending May 31, 2017. NOTE: Reinsurance coverage may vary from the above illustration depending on loss scenario and state(s) impacted by catastrophe events

2016-17 Reinsurance Program(1)

Source: Willis Towers Watson10

Modeled Results Represent Program Strength

DescriptionWorst Individual Storm –

Hurricane Andrew

Probability 1:48 years

% of Coverage

Exhausted41.5%

• Sufficiency of our reinsurance program is tested in the AIR US Hurricane Model (Touchstone v3.0)

• Testing includes replication of the worst individual storms & calendar years of multiple events within Florida

• Modeled results show ability to withstand worst catastrophic events11

DescriptionWorst Calendar Year –

2004 Hurricane Season

Probability 1:188 years

% of Coverage

Exhausted13.1%

After Andrew storm, $1.98B of reinsurance limit

remaining for the same hurricane season

Heritage P&C responsibility ~$20MM out of surplus

After 2004 season, $2.7B of reinsurance limit

remaining for the same hurricane season

Heritage P&C responsibility ~$40MM out of surplus

Debunking the myth: one storm or active hurricane season in Florida will blow through all of our reinsurance protection

Source: Willis Towers Watson

$0

$100

$200

$300

$400

$500

FY12 FY13 FY14 FY15 FY16

Statutory Surplus Equity Capital Return

Strong Balance Sheet

• Well capitalized with $276MM in surplus ($200MM HPCI, $76MM Zephyr)

• 100% equity capital financed, no reliance on quota share agreements to support

underwriting (all reinsurance bought on excess of loss basis)

• Low risk investment portfolio: minimum weighted average credit quality of “A”

• Conservative capital structure to promote sustainability and growth

Best-In-Class Capital Structures

12

($MM)

$32.4 million

in dividends

paid & share

repurchases

Financial Results & Overview

13

128

209

257

323

2013 2014 2015 2016

Large Installed Base

Actively Writing Policies in Florida, Hawaii, North Carolina, South Carolina & Georgia

Policies-in-Force (000s)

14

Top-Line Execution

Track Record of Premium Growth

Drivers of top-line include rate increases, M&A and continued ramp of new states

$140

$312

$525

$641

2013 2014 2015 2016

Gross Premiums Earned $(MM)

15

History of Above Market Returns

Long Term Double-Digit Return on Average Equity (ROAE1) Anticipated

Return on Average Equity

45.0%

26.5%

30.2%

9.5%

2013 2014 2015 2016*

*Unprecedented tornadic activity in 1Q16 and Hurricane Hermine and Hurricane Matthew in 2H161ROAE = Net Income / (Beginning stockholders equity + ending stockholders equity / 2)

Mean

ROAE

27.8%

16

Inforce

Voluntary Policy Growth Continues

Voluntary Personal Residential Lines

• Voluntary inforce premium of $174MM as of

12/31/16, +75% compared to 12/31/15

• 150K voluntary policies-in-force (PIF) now make up

47% of total personal residential PIF

• Business ramp continues in new states with North

Carolina leading the expansion

Voluntary Commercial Residential Lines

• Inforce premium of $75MM as of 12/31/16, +57%

compared to 12/31/15

• Commercial offers attractive business mix given low

attritional loss ratios and lower propensity of AOB

0

40,000

80,000

120,000

160,000

200,000

2013 2014 2015 2016

$(000s)

0

20,000

40,000

60,000

80,000

2014 2015 2016

$(000s)+57% y/y

Consolidated Personal Inforce Premium

Consolidated Commercial Inforce Premium

+75% y/y

17

Capturing Share in Commercial Residential

$7.9

$13.6

$15.7

$23.6

$26.9

$57.6

$60.6

$94.8

$118.6

$249.8

$3.5

$4.5

$6.2

$8.4

$8.4

$65.6

$71.0

$86.1

$311.9

$403.3

Total Inforce Written Premium (9/30/14) Total Inforce Written Premium (12/31/16)

$(MM) $(MM)

American Capital

Assurance Co.

American Capital

Assurance Co.

Heritage has proactively focused on growing commercial residential given business mix and diversification benefits:

• Lower attritional loss ratios relative to personal residential

• Very little risk as it relates to fraud and AOB issues in commercial residential

• Higher premiums & profitability associated with commercial residential policies

• Properties are well-maintained and mostly managed by condo associations18

Premium Source: Florida Office of Insurance Regulation

2016: Footprint & Business Line Expansion;

Addressing Environment in Florida

Exited 2016 haven proven the business model: two hurricanes, record tornadic activity and AOB & litigated claims

2016 Results & Actions

• 30% increase in policy count year over year

• $34 million in net income

• 9.5% return on average equity

• Repurchased $25.6 million in shares outstanding; paid out $6.8 million in dividends

• Expanded in Hawaii with the Zephyr acquisition and began writing residential policies in the Carolinas

• Passed through rate increase and policy language changes in response to environment in Florida

• Ceased writing new policies in fraudulent heavy areas

• Supported policyholders after the hurricanes and closed >90% of claims

• Rapid response times & restoration of homes with Heritage’s unique vertical claims model

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2017: Focus on Bottom-Line Results

• Voluntary personal & commercial residential lines expansion

• New state expansion through M&A, strategic partnerships & organic growth

• Ability to adjust rate commensurate with increased risk

• Market share growth driven by operational & financial expertise

Business & Financial Drivers

Shareholder Return

• Business model can support long-term substantial ROAE

• Future capital deployment based on best return for shareholders

• Balance strategic growth & expansion initiatives with capital return

2017: Focus on Bottom-Line Results

• Evaluate opportunities to expand footprint & diversify risk

• Drive profitable new business through underwriting discipline & strategic initiatives

• Achieve optimal reinsurance program for 2017-2018 which includes 5th ILS multi-year bond

• Continue to differentiate our service level for policyholders and drive down costs with vertical claims model

20