Company: TIPT
Filing Date: 2025-03-17
Form Type: DEF 14A
Source: 0001393726-25-000038
Chunk: 71

Company: TIPTREE INC.
Filing Date: 2025-03-17
Form: DEF 14A
Chunk 71
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 should not be viewed as a substitute for income before taxes calculated in accordance with GAAP, and other companies may define Adjusted net income differently. Adjusted net income is presented before the impacts of non-controlling interests.

We define Adjusted return on average equity as Adjusted net income expressed on an annualized basis as a percentage of average beginning and ending stockholder’s equity during the period. We use Adjusted return on average equity as an internal performance measure in the management of our operations because we believe it gives our management and other users of our financial information useful insight into our results of operations and our underlying business performance. Adjusted return on average equity should not be viewed as a substitute for return on average equity calculated in accordance with GAAP, and other companies may define adjusted return on average equity differently.

|                                                     |     | Year Ended December 31, 2024 |         |   |     |                 |        |   |     |       |        |   |     |           |         |     |     |       |         |   |
|:----------------------------------------------------|:----|:-----------------------------|--------:|:--|:----|:----------------|-------:|:--|:----|:------|-------:|:--|:----|:----------|--------:|:----|:----|:------|--------:|:--|
|                                                     |     |                              |         |   |     | Tiptree Capital |        |   |     |       |        |   |     |           |         |     |     |       |         |   |
| ($ in thousands)                                    |     | Insurance                    |         |   |     | Mortgage        |        |   |     | Other |        |   |     | Corporate |         |     |     | Total |         |   |
| Income (loss) before taxes                          |     | $                            | 183,158 |   |     | $               |  4,725 |   |     | $     |   -163 |   |     | $         | -38,401 |     |     | $     | 149,319 |   |
| Less: Income tax (benefit) expense                  |     |                              | -43,260 |   |     |                 | -1,091 |   |     |       |   -540 |   |     |           | -16,761 |     |     |       | -61,652 |   |
| Less: