Company: TIPT
Filing Date: 2025-03-17
Form Type: DEF 14A
Source: 0001393726-25-000038
Chunk: 6

Company: TIPTREE INC.
Filing Date: 2025-03-17
Form: DEF 14A
Chunk 6
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iptree, Warburg and Fortegra directors of $40 million, partially offset by an increase in the accumulated other comprehensive loss position.

#### Tiptree Capital
|                                   | ($ in thousands) | Year Ended December 31, |   2024 |   |     |   |   2023 |   |
|:----------------------------------|:-----------------|:------------------------|-------:|:--|:----|:--|-------:|:--|
| Revenues                          |                  | $                       | 69,146 |   |     | $ | 55,961 |   |
| Income before taxes               |                  | $                       |  4,562 |   |     | $ | -6,549 |   |
| Return on average equity          |                  |                         |    2.2 | % |     |   |   -3.6 | % |
| Non-GAAP:(1)                      |                  |                         |        |   |     |   |        |   |
| Adjusted net income               |                  | $                       |  1,820 |   |     | $ |   -159 |   |
| Adjusted return on average equity |                  |                         |    1.3 | % |     |   |   -0.1 | % |

____________________________

(1) For a reconciliation to GAAP financials, see “Annex A: Non-GAAP Measures.” Adjusted net income is presented before the impacts of non-controlling interests.

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• Tiptree Capital income before taxes was $2.8 million for the quarter, compared to a loss of $2.1 million in Q4'23, driven by improvement in our mortgage operations. For the year, income before taxes was $4.6 million, compared to a loss of $6.5 million in 2023, with the comparative improvement driven by improvement in our mortgage operations and a reduction of investment losses on Invesque.

• Mortgage income before taxes was $3.5 million for the quarter, as compared to a loss of $2.4 million in Q4'23, and an income of $4.7 million for the year, as compared to a loss of $3.3 million in 2023, driven by higher origination volumes and loan servicing fees, and unrealized gains on our mortgage servicing asset.

#### Tiptree Long Term Performance
We believe that our performance is