# EDGAR Filing Document

**Accession Number:** 0001823529
**File Stem:** 0001823529-25-000184
**Filing Date:** 2025-7
**Character Count:** 68013
**Document Hash:** 17d0a38a48eef56fe860f066a7a40613
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0001823529-25-000184.hdr.sgml**: 20250730

**ACCESSION NUMBER**: 0001823529-25-000184

**CONFORMED SUBMISSION TYPE**: 8-K

**PUBLIC DOCUMENT COUNT**: 30

**CONFORMED PERIOD OF REPORT**: 20250730

**ITEM INFORMATION**: Results of Operations and Financial Condition

**ITEM INFORMATION**: Financial Statements and Exhibits

**FILED AS OF DATE**: 20250730

**DATE AS OF CHANGE**: 20250730

**FILER**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** Enact Holdings, Inc.
- **CENTRAL INDEX KEY:** 0001823529
- **STANDARD INDUSTRIAL CLASSIFICATION:** INSURANCE AGENTS BROKERS & SERVICES [6411]
- **ORGANIZATION NAME:** 02 Finance
- **EIN:** 461579166
- **STATE OF INCORPORATION:** DE
- **FISCAL YEAR END:** 1231

**FILING VALUES:**
- **FORM TYPE:** 8-K
- **SEC ACT:** 1934 Act
- **SEC FILE NUMBER:** 001-40399
- **FILM NUMBER:** 251167317

**BUSINESS ADDRESS:**
- **STREET 1:** 8325 SIX FORKS ROAD
- **CITY:** RALEIGH
- **STATE:** NC
- **ZIP:** 27615
- **BUSINESS PHONE:** (919) 846-4100

**MAIL ADDRESS:**
- **STREET 1:** 8325 SIX FORKS ROAD
- **CITY:** RALEIGH
- **STATE:** NC
- **ZIP:** 27615

**FORMER COMPANY:**
- **FORMER CONFORMED NAME:** Genworth Mortgage Holdings, Inc.
- **DATE OF NAME CHANGE:** 20200902

?xml version='1.0' encoding='ASCII'? act-20250730

**UNITED STATES**

**SECURITIES AND EXCHANGE COMMISSION**

**WASHINGTON, DC 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): **July 30, 2025**

**Enact Holdings, Inc.**

(Exact name of registrant as specified in its charter)

---

| | | |
|:---|:---|:---|
| **Delaware** | **001-40399** | **46-1579166** |
| (State or other Jurisdiction of | (Commission | (IRS Employer |
| Incorporation) | File Number) | Identification No.) |

---

**8325 Six Forks Road**

**Raleigh, North Carolina 27615**

**(919) 846-4100**

(Address, including zip code, and telephone number, including area code, of registrant's principal executive offices)

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions (see General Instruction A.2. below):

☐&nbsp;&nbsp;&nbsp;&nbsp;Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

☐&nbsp;&nbsp;&nbsp;&nbsp;Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

☐&nbsp;&nbsp;&nbsp;&nbsp;Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

☐&nbsp;&nbsp;&nbsp;&nbsp;Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

Securities registered pursuant to Section 12(b) of the Act:

---

| | | |
|:---|:---|:---|
| Title of each class | Trading Symbol(s) | Name of each exchange on which registered |
| Common stock, par value $0.01 per share | ACT | The Nasdaq Stock Market |

---

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. ☐

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| | |
|:---|:---|
| **Item 2.02** | **Results of Operations and Financial Condition.** |

---

On July 30, 2025, Enact Holdings, Inc. (the "Company") issued (1) a press release announcing its financial results for the quarter ended June 30, 2025, a copy of which is attached hereto as Exhibit 99.1 and is incorporated herein by reference, and (2) a financial supplement for the quarter ended June 30, 2025, a copy of which is attached hereto as Exhibit 99.2 and is incorporated herein by reference.

The information contained in Item 2.02 of this Current Report on Form 8-K (including Exhibits 99.1 and 99.2) is being furnished and shall not be deemed "filed" for purposes of Section 18 of the Securities Exchange Act of 1934 (the "Exchange Act") or otherwise subject to the liabilities under that Section and shall not be deemed to be incorporated by reference into any filing of the Company under the Securities Act of 1933, as amended or the Exchange Act, except as shall be expressly set forth by specific reference in such filing. The information contained in Item 2.02 of this Current Report on Form 8-K shall not be incorporated by reference into any registration statement or other document pursuant to the Securities Act of 1933, as amended, or the Exchange Act, except as shall be expressly set forth by specific reference in any such filing.

---

| | |
|:---|:---|
| **Item 9.01** | **Financial Statements and Exhibits.** |

---

The following materials are furnished as exhibits to this Current Report on Form 8-K:

---

| | |
|:---|:---|
| Exhibit<br>Number | |
| <u>[99.1](a2q25earningsrelease.htm)</u> | Press Release dated July 30, 2025 - Financial results |
| <u>[99.2](enactqfs2q25final.htm)</u> | Financial Supplement for the quarter ended June 30, 2025 |
| 104 | Cover Page Interactive Data File (the Cover Page Interactive Data File is embedded within the Inline XBRL document) |

---

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**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.

---

| | | | |
|:---|:---|:---|:---|
| | Enact Holdings, Inc. | Enact Holdings, Inc. | Enact Holdings, Inc. |
| | By: | /s/ Hardin Dean Mitchell | /s/ Hardin Dean Mitchell |
| | | Name: | Hardin Dean Mitchell |
| | | Title: | Executive Vice President, Chief Financial Officer and Treasurer |
| Dated: July 30, 2025 |  |  |  |

---

## Exhibit 99.1

**Exhibit 99.1**

![image_0a.jpg](image_0a.jpg)

**ENACT REPORTS SECOND QUARTER 2025 RESULTS**

**ANNOUNCES $0.21 PER SHARE QUARTERLY DIVIDEND**

_______________________________________

***GAAP Net Income of $168 million, or $1.11 per diluted share***

***Adjusted Operating Income of $174 million, or $1.15 per diluted share***

***Return on Equity of 13.0% and Adjusted Operating Return on Equity of 13.4%***

***Primary Insurance in-force of $270 billion, a 1% increase from second quarter 2024***

***PMIERs Sufficiency of 165% or approximately $2.0 billion***

***Book Value Per Share of $35.20 and Book Value Per Share excluding AOCI of $35.90***

***Increased Full-Year Capital Return Guidance to Approximately $400 million***

**Raleigh, NC, July 30, 2025 –** Enact Holdings, Inc. (Nasdaq: ACT) today announced financial results for the second quarter of 2025.

"Our strong second quarter results underscore the resilience of our business model and the consistency of our execution," stated Rohit Gupta, President and CEO of Enact. "We continue to navigate an evolving market, grow our insurance in-force, maintain robust risk and expense management and deliver strong capital returns while also investing in our business. As we look ahead, we remain confident in the fundamentals of the housing market and our ability to deliver long-term value for all stakeholders while helping more people responsibly achieve and sustain homeownership."

**Key Financial Highlights**

---

| | | | |
|:---|:---|:---|:---|
| *(In millions, except per share data or otherwise noted)* | **2Q25** | **1Q25** | **2Q24** |
| Net Income (loss) | $168 | $166 | $184 |
| *Diluted Net Income (loss) per share* | $1.11 | $1.08 | $1.16 |
| Adjusted Operating Income (loss) | $174 | $169 | $201 |
| *Adj. Diluted Operating Income (loss) per share* | $1.15 | $1.10 | $1.27 |
| NIW ($B) | $13 | $10 | $14 |
| Primary Persistency Rate | 82% | 84% | 83% |
| Primary IIF ($B) | $270 | $268 | $266 |
| Net Premiums Earned | $245 | $245 | $245 |
| Losses Incurred | $25 | $31 | $(17) |
| *Loss Ratio* | 10% | 12% | (7)% |
| Operating Expenses | $53 | $53 | $56 |
| *Expense Ratio* | 22% | 21% | 23% |
| Net Investment Income | $66 | $63 | $60 |
| Net Investment gains (losses) | $(7) | $(3) | $(8) |
| Return on Equity | 13.0% | 13.1% | 15.4% |
| Adjusted Operating Return on Equity | 13.4% | 13.4% | 16.9% |
| PMIERs Sufficiency ($) | $1961 | $1966 | $2057 |
| PMIERs Sufficiency (%) | 165% | 165% | 169% |

---

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![image_0a.jpg](image_0a.jpg)

**<u>Second Quarter 2025 Financial and Operating Highlights</u>**

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• Net income was $168 million, or $1.11 per diluted share, compared with $166 million, or $1.08 per diluted share, for the first quarter of 2025 and $184 million, or $1.16 per diluted share, for the second quarter of 2024. Adjusted operating income was $174 million, or $1.15 per diluted share, compared with $169 million, or $1.10 per diluted share, for the first quarter of 2025 and $201 million, or $1.27 per diluted share, for the second quarter of 2024.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• New insurance written (NIW) was approximately $13 billion, up 35% from the first quarter of 2025, primarily from seasonality in the purchase origination market, and modestly down from the second quarter of 2024. NIW for the current quarter was comprised of 96% monthly premium policies and 93% purchase originations.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• Persistency remained elevated at 82%, down from 84% in the first quarter of 2025 and down from 83% in the second quarter of 2024. Approximately 7% of the mortgages in our portfolio had rates at least 50 basis points above June 2025's average mortgage rate of 6.8%.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• Primary insurance in-force (IIF) was $270 billion, up approximately 1% from $268 billion in the first quarter of 2025 and up approximately 1% from $266 billion in the second quarter of 2024.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• Net premiums earned were $245 million, approximately flat from the first quarter of 2025 and modestly increased from the second quarter of 2024. The year-over-year increase is primarily driven by premium growth from attractive adjacencies and growth in primary insurance in-force, mostly offset by higher ceded premiums.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• Losses incurred for the second quarter of 2025 were $25 million and the loss ratio was 10%, compared to $31 million and 12%, respectively, in the first quarter of 2025 and $(17) million and (7)%, respectively, in the second quarter of 2024. The current quarter's reserve release of $48 million from favorable cure performance and loss mitigation activities compares to a reserve release of $47 million and $77 million in the first quarter of 2025 and second quarter of 2024, respectively. The reserve release in the second quarter of 2024 benefited from reduction of claim rate from 10% to 9%.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• Operating expenses in the current quarter were $53 million, and the expense ratio was 22%. This compared to $53 million and 21%, respectively, in the first quarter of 2025 and $56 million and 23%, respectively in the second quarter of 2024. The year-over-year decrease was primarily driven by the prior year restructuring costs of $3 million from a voluntary separation program.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• Net investment income was $66 million, up from $63 million in the first quarter of 2025 and up from $60 million in the second quarter of 2024, driven by the continuation of elevated interest rates and higher average invested assets.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• Net investment gains (losses) in the quarter were $(7) million, as compared to $(3) million sequentially and $(8) million in the same period last year. The activity is primarily driven by the identification of assets that upon selling allow us to recoup losses through higher net investment income.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• Annualized return on equity for the second quarter of 2025 was 13.0% and annualized adjusted operating return on equity was 13.4%. This compares to the first quarter of 2025 results of 13.1% and 13.4%, respectively, and to second quarter 2024 results of 15.4% and 16.9%, respectively.

**<u>Capital and Liquidity</u>**

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• We paid approximately $31 million, or $0.21 per share, dividend in the second quarter.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• EMICO completed a dividend of approximately $130 million in the second quarter that will primarily be used to support our ability to return capital to shareholders and bolster financial flexibility.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• Enact Holdings, Inc. held $345 million in cash and cash equivalents plus $306 million of invested assets as of June 30, 2025. Combined cash and invested assets decreased $3 million from the prior quarter, primarily due to share buybacks, our quarterly dividend and interest payment on our debt mostly offset by the contribution from EMICO.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• PMIERs sufficiency was 165% and $2.0 billion above the PMIERs requirements, compared to 165% and $2.0 billion above the PMIERs requirements in the first quarter of 2025.

------

![image_0a.jpg](image_0a.jpg)

**<u>Recent Events</u>**

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• We repurchased approximately 2.4 million shares at an average price of $35.45 for a total of approximately $85 million in the quarter. Additionally, through July 25, 2025, we repurchased 0.8 million shares at an average price of $35.86 for a total of $30 million. During the quarter we completed our $250 million share repurchase authorization announced May 1, 2024, and as of July 25, 2025, there was approximately $262 million remaining of our previously announced $350 million repurchase authorization.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• We announced today that the Board of Directors declared a quarterly dividend of $0.21 per share, payable on September 8, 2025, to shareholders of record on August 18, 2025.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• We now anticipate a total 2025 capital return of approximately $400 million; the final amount and form of capital returned to shareholders will depend on business performance, market conditions, and regulatory approvals.

**<u>Conference Call and Financial Supplement Information</u>**

This press release, the second quarter 2025 financial supplement and earnings presentation are now posted on the Company's website, https://ir.enactmi.com. Investors are encouraged to review these materials.

Enact will discuss second quarter financial results in a conference call tomorrow, Thursday, July 31, 2025, at 8:00 a.m. (Eastern). Participants interested in joining the call's live question and answer session are required to pre-register by clicking **here** to obtain your dial-in number and unique PIN. It is recommended to join at least 15 minutes in advance, although you may register ahead of the call and dial in at any time during the call. If you wish to join the call but do not plan to ask questions, a live webcast of the event will be available on our website, **https://ir.enactmi.com/news-and-events/events**.

The webcast will also be archived on the Company's website for one year.

**<u>About Enact</u>**

Enact (Nasdaq: ACT), operating principally through its wholly owned subsidiary Enact Mortgage Insurance Corporation since 1981, is a leading U.S. private mortgage insurance provider committed to helping more people achieve the dream of homeownership. Building on a deep understanding of lenders' businesses and a legacy of financial strength, we partner with lenders to bring best-in class service, leading underwriting expertise, and extensive risk and capital management to the mortgage process, helping to put more people in homes and keep them there. By empowering customers and their borrowers, Enact seeks to positively impact the lives of those in the communities in which it serves in a sustainable way. Enact is headquartered in Raleigh, North Carolina.

**<u>Safe Harbor Statement</u>**

This communication contains "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995. These forward-looking statements may address, among other things, our expected financial and operational results, the related assumptions underlying our expected results, guidance concerning the future return of capital and the quotations of management. These forward-looking statements are distinguished by use of words such as "will," "may," "would," "anticipate," "expect," "believe," "designed," "plan," "predict," "project," "target," "could," "should," or "intend," the negative of these terms, and similar references to future periods. These views involve risks and uncertainties that are difficult to predict and, accordingly, our actual results may differ materially from the results discussed in our forward-looking statements. Our forward-looking statements contained herein speak only as of the date of this press release. Factors or events that we cannot predict, including risks related to an economic downturn or a recession in the United States and in other countries around the world; changes in political, business, regulatory, and economic conditions; changes in or to Fannie Mae and Freddie Mac (the "GSEs"), whether through Federal legislation, restructurings or a shift in business practices; failure to continue to meet the mortgage insurer eligibility

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![image_0a.jpg](image_0a.jpg)

requirements of the GSEs; competition for customers; lenders or investors seeking alternatives to private mortgage insurance; an increase in the number of loans insured through Federal government mortgage insurance programs, including those offered by the Federal Housing Administration; and other factors described in the risk factors contained in our most recent Annual Report on Form 10-K and other filings with the SEC, may cause our actual results to differ from those expressed in forward-looking statements. Although Enact believes the expectations reflected in such forward-looking statements are based on reasonable assumptions, Enact can give no assurance that its expectations will be achieved and it undertakes no obligation to update publicly any forward-looking statements as a result of new information, future events, or otherwise, except as required by applicable law.

**<u>GAAP/Non-GAAP Disclosure Discussion</u>**

This communication includes the non-GAAP financial measures entitled "adjusted operating income (loss)," "adjusted operating income (loss) per share," and "adjusted operating return on equity." Enact Holdings, Inc. (the "Company") defines adjusted operating income (loss) as net income (loss) excluding the after-tax effects of net investment gains (losses), restructuring costs and infrequent or unusual non-operating items, and gain (loss) on the extinguishment of debt. The Company excludes net investment gains (losses), gains (losses) on the extinguishment of debt and infrequent or unusual non-operating items because the Company does not consider them to be related to the operating performance of the Company and other activities. The recognition of realized investment gains or losses can vary significantly across periods as the activity is highly discretionary based on the timing of individual securities sales due to such factors as market opportunities or exposure management. Trends in the profitability of our fundamental operating activities can be more clearly identified without the fluctuations of these realized gains and losses. We do not view them to be indicative of our fundamental operating activities. Therefore, these items are excluded from our calculation of adjusted operating income. In addition, adjusted operating income (loss) per share is derived from adjusted operating income (loss) divided by shares outstanding. Adjusted operating return on equity is calculated as annualized adjusted operating income for the period indicated divided by the average of current period and prior periods' ending total stockholders' equity.

While some of these items may be significant components of net income (loss) in accordance with U.S. GAAP, the Company believes that adjusted operating income (loss) and measures that are derived from or incorporate adjusted operating income (loss), including adjusted operating income (loss) per share on a basic and diluted basis and adjusted operating return on equity, are appropriate measures that are useful to investors because they identify the income (loss) attributable to the ongoing operations of the business. Management also uses adjusted operating income (loss) as a basis for determining awards and compensation for senior management and to evaluate performance on a basis comparable to that used by analysts. Adjusted operating income (loss) and adjusted operating income (loss) per share on a basic and diluted basis are not substitutes for net income (loss) available to Enact Holdings, Inc.'s common stockholders or net income (loss) available to Enact Holdings, Inc.'s common stockholders per share on a basic and diluted basis determined in accordance with U.S. GAAP. In addition, the Company's definition of adjusted operating income (loss) may differ from the definitions used by other companies.

Adjustments to reconcile net income (loss) available to Enact Holdings, Inc.'s common stockholders to adjusted operating income (loss) assume a 21% tax rate.

The tables at the end of this press release provide a reconciliation of net income (loss) to adjusted operating income (loss) and U.S. GAAP return on equity to adjusted operating return on equity for the three months ended June 30, 2025 and 2024, as well as for the three months ended March 31, 2025.

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![image_0a.jpg](image_0a.jpg)

**Exhibit A: Consolidated Statements of Income (amounts in thousands, except per share amounts)**

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| | | | |
|:---|:---|:---|:---|
| | **2Q25** | **1Q25** | **2Q24** |
| **REVENUES:** | | | |
| &nbsp;&nbsp;&nbsp;Premiums | $245289 | $244786 | $244567 |
| &nbsp;&nbsp;&nbsp;Net investment income | 65884 | 63037 | 59773 |
| &nbsp;&nbsp;&nbsp;Net investment gains (losses) | (7343) | (3243) | (7713) |
| &nbsp;&nbsp;&nbsp;Other income | 1060 | 2196 | 2207 |
| **Total revenues** | **304890** | **306776** | **298834** |
| **LOSSES AND EXPENSES:** |  |  |  |
| &nbsp;&nbsp;&nbsp;Losses incurred | 25289 | 30541 | (16821) |
| &nbsp;&nbsp;&nbsp;Acquisition and operating expenses, net of deferrals | 50598 | 50094 | 53960 |
| &nbsp;&nbsp;&nbsp;Amortization of deferred acquisition costs and intangibles | 2205 | 2429 | 2292 |
| &nbsp;&nbsp;&nbsp;Interest expense | 12296 | 12291 | 13644 |
| &nbsp;&nbsp;&nbsp;Loss on debt extinguishment | 0 | 0 | 10930 |
| **Total losses and expenses** | **90388** | **95355** | **64005** |
| **INCOME BEFORE INCOME TAXES** | 214502 | 211421 | 234829 |
| &nbsp;&nbsp;Provision for income taxes | 46694 | 45643 | 51156 |
| **NET INCOME** | **$167808** | **$165778** | **$183673** |
| &nbsp;&nbsp;&nbsp;Net investment (gains) losses | 7343 | 3243 | 7713 |
| &nbsp;&nbsp;&nbsp;Costs associated with reorganization | (24) | 629 | 3435 |
| &nbsp;&nbsp;&nbsp;Loss on debt extinguishment | 0 | 0 | 10930 |
| &nbsp;&nbsp;&nbsp;Taxes on adjustments | (1537) | (813) | (4636) |
| **Adjusted Operating Income** | **$173590** | **$168837** | **$201115** |
| **Loss ratio** <sup>(1)</sup> | 10% | 12% | (7)% |
| **Expense ratio** <sup>(2)</sup> | 22% | 21% | 23% |
| **Earnings Per Share Data:** |  |  |  |
| Net Income per share |  |  |  |
| &nbsp;&nbsp;&nbsp;Basic | $1.12 | $1.09 | $1.17 |
| &nbsp;&nbsp;&nbsp;Diluted | $1.11 | $1.08 | $1.16 |
| Adj operating income per share |  |  |  |
| &nbsp;&nbsp;&nbsp;Basic | $1.16 | $1.11 | $1.28 |
| &nbsp;&nbsp;&nbsp;Diluted | $1.15 | $1.10 | $1.27 |
| Weighted-average common shares outstanding |  |  |  |
| &nbsp;&nbsp;&nbsp;Basic | 149940 | 151831 | 157193 |
| &nbsp;&nbsp;&nbsp;Diluted | 150729 | 152907 | 158571 |
| <sup>(1)</sup> The ratio of losses incurred to net earned premiums. | <sup>(1)</sup> The ratio of losses incurred to net earned premiums. | <sup>(1)</sup> The ratio of losses incurred to net earned premiums. |  |
| <sup>(2)</sup> The ratio of acquisition and operating expenses, net of deferrals, and amortization of deferred acquisition costs and intangibles to net earned premiums. Expenses associated with strategic transaction preparations and restructuring costs increased the expense ratio by zero percentage points for the three-month periods ended June 30, 2025 and March 31, 2025, one percentage point for the three-month period ended June 30, 2024. | <sup>(2)</sup> The ratio of acquisition and operating expenses, net of deferrals, and amortization of deferred acquisition costs and intangibles to net earned premiums. Expenses associated with strategic transaction preparations and restructuring costs increased the expense ratio by zero percentage points for the three-month periods ended June 30, 2025 and March 31, 2025, one percentage point for the three-month period ended June 30, 2024. | <sup>(2)</sup> The ratio of acquisition and operating expenses, net of deferrals, and amortization of deferred acquisition costs and intangibles to net earned premiums. Expenses associated with strategic transaction preparations and restructuring costs increased the expense ratio by zero percentage points for the three-month periods ended June 30, 2025 and March 31, 2025, one percentage point for the three-month period ended June 30, 2024. | <sup>(2)</sup> The ratio of acquisition and operating expenses, net of deferrals, and amortization of deferred acquisition costs and intangibles to net earned premiums. Expenses associated with strategic transaction preparations and restructuring costs increased the expense ratio by zero percentage points for the three-month periods ended June 30, 2025 and March 31, 2025, one percentage point for the three-month period ended June 30, 2024. |

---

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![image_0a.jpg](image_0a.jpg)

**Exhibit B: Consolidated Balance Sheets (amounts in thousands, except per share amounts)**

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| | | | |
|:---|:---|:---|:---|
| **Assets** | **2Q25** | **1Q25** | **2Q24** |
| &nbsp;&nbsp;&nbsp;Investments: |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Fixed maturity securities available-for-sale, at fair value | $5896818 | $5815337 | $5331345 |
| &nbsp;&nbsp;&nbsp;&nbsp;Short term investments | 3001 | 3696 | 12313 |
| &nbsp;&nbsp;**Total investments** | **5899819** | **5819033** | **5343658** |
| &nbsp;&nbsp;&nbsp;&nbsp;Cash and cash equivalents | 612967 | 635269 | 699035 |
| &nbsp;&nbsp;&nbsp;&nbsp;Accrued investment income | 53259 | 49654 | 45317 |
| &nbsp;&nbsp;&nbsp;&nbsp;Deferred acquisition costs | 22910 | 23322 | 24619 |
| &nbsp;&nbsp;&nbsp;&nbsp;Premiums receivable | 44091 | 46451 | 48698 |
| &nbsp;&nbsp;&nbsp;&nbsp;Other assets | 107882 | 103351 | 98929 |
| &nbsp;&nbsp;&nbsp;&nbsp;Deferred tax asset | 32545 | 44440 | 89116 |
| **Total assets** | **$6773473** | **$6721520** | **$6349372** |
| **Liabilities and Shareholders' Equity** |  |  |  |
| Liabilities: |  |  |  |
| &nbsp;&nbsp;&nbsp;Loss reserves | $551940 | $542528 | $508138 |
| &nbsp;&nbsp;&nbsp;Unearned premiums | 101205 | 107519 | 129870 |
| &nbsp;&nbsp;&nbsp;Other liabilities | 153447 | 208667 | 143167 |
| &nbsp;&nbsp;&nbsp;Long-term borrowings | 743753 | 743399 | 742368 |
| **Total liabilities** | **1550345** | **1602113** | **1523543** |
| Equity: |  |  |  |
| &nbsp;&nbsp;&nbsp;Common stock | 1484 | 1508 | 1561 |
| &nbsp;&nbsp;&nbsp;Additional paid-in capital | 1927372 | 2007776 | 2220903 |
| &nbsp;&nbsp;&nbsp;Accumulated other comprehensive income | (104342) | (152482) | (236305) |
| &nbsp;&nbsp;&nbsp;Retained earnings | 3398614 | 3262605 | 2839670 |
| **Total equity** | **5223128** | **5119407** | **4825829** |
| **Total liabilities and equity** | **$6773473** | **$6721520** | **$6349372** |
| Book value per share | $35.20 | $33.96 | $30.91 |
| Book value per share excluding AOCI | $35.90 | $34.97 | $32.43 |
| **U.S. GAAP ROE** <sup>(1)</sup> | 13.0% | 13.1% | 15.4% |
| &nbsp;&nbsp;&nbsp;Net investment (gains) losses | 0.6% | 0.3% | 0.6% |
| &nbsp;&nbsp;&nbsp;Costs associated with reorganization | 0.0% | 0.0% | 0.3% |
| &nbsp;&nbsp;&nbsp;(Gains) losses on early extinguishment of debt | 0.0% | 0.0% | 0.9% |
| &nbsp;&nbsp;&nbsp;Taxes on adjustments | (0.1)% | (0.1)% | (0.4)% |
| **Adjusted Operating ROE**<sup>(2)</sup>  | **13.4%** | **13.4%** | **16.9%** |
| **Debt to Capital Ratio** | **12%** | **13%** | **13%** |
| <sup>(1)</sup> Calculated as annualized net income for the period indicated divided by the average of current period and prior periods' ending total stockholders' equity | <sup>(1)</sup> Calculated as annualized net income for the period indicated divided by the average of current period and prior periods' ending total stockholders' equity | <sup>(1)</sup> Calculated as annualized net income for the period indicated divided by the average of current period and prior periods' ending total stockholders' equity | <sup>(1)</sup> Calculated as annualized net income for the period indicated divided by the average of current period and prior periods' ending total stockholders' equity |
| <sup>(2)</sup> Calculated as annualized adjusted operating income for the period indicated divided by the average of current period and prior periods' ending total stockholders' equity | <sup>(2)</sup> Calculated as annualized adjusted operating income for the period indicated divided by the average of current period and prior periods' ending total stockholders' equity | <sup>(2)</sup> Calculated as annualized adjusted operating income for the period indicated divided by the average of current period and prior periods' ending total stockholders' equity | <sup>(2)</sup> Calculated as annualized adjusted operating income for the period indicated divided by the average of current period and prior periods' ending total stockholders' equity |

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## Exhibit 99.2

![](enactqfs2q25final001.jpg)

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Enact Holdings, Inc. Financial Supplement Second Quarter 2025 GAAP/Non-GAAP Disclosure Discussion This document includes the non-GAAP financial measures entitled "adjusted operating income (loss)," "adjusted operating income (loss) per share," and "adjusted operating return on equity." Adjusted operating income (loss) per share is derived from adjusted operating income (loss). Enact Holdings, Inc. (the "Company") defines adjusted operating income (loss) as net income (loss) excluding the after-tax effects of net investment gains (losses), restructuring costs, gains (losses) on debt extinguishment and infrequent or unusual non-operating items. The Company excludes net investment gains (losses), gains (losses) on the extinguishment of debt and infrequent or unusual non-operating items because the Company does not consider them to be related to the operating performance of the Company. The recognition of realized investment gains or losses can vary significantly across periods as the activity is highly discretionary based on the timing of individual securities sales due to such factors as market opportunities or exposure management. Trends in the profitability of our fundamental operating activities can be more clearly identified without the fluctuations of these realized gains and losses. We do not view them to be indicative of our fundamental operating activities. Therefore, these items are excluded from our calculation of adjusted operating income. In addition, adjusted operating income (loss) per share is derived from adjusted operating income (loss) divided by shares outstanding. Adjusted operating return on equity is calculated as annualized adjusted operating income for the period indicated divided by the average of current period and prior periods' ending total stockholders' equity. While some of these items may be significant components of net income (loss) in accordance with U.S. GAAP, the Company believes that adjusted operating income (loss) and measures that are derived from or incorporate adjusted operating income (loss), including adjusted operating income (loss) per share on a basic and diluted basis and adjusted operating return on equity, are appropriate measures that are useful to investors because they identify the income (loss) attributable to the ongoing operations of the business. Management also uses adjusted operating income (loss) as a basis for determining awards and compensation for senior management and to evaluate performance on a basis comparable to that used by analysts. Adjusted operating income (loss) and adjusted operating income (loss) per share on a basic and diluted basis are not substitutes for net income (loss) available to Company's common stockholders or net income (loss) available to Company's common stockholders per share on a basic and diluted basis determined in accordance with U.S. GAAP. In addition, the Company's definition of adjusted operating income (loss) may differ from the definitions used by other companies. Adjustments to reconcile net income (loss) available to Company's common stockholders to adjusted operating income (loss) assume a 21% tax rate. Page 2

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Enact Holdings, Inc. Financial Supplement Second Quarter 2025 2Q 1Q Total 4Q 3Q 2Q 1Q Total REVENUES: Premiums $245,289 $244,786 $490,075 $245,735 $249,055 $244,567 $240,747 $980,104 Net investment income 65,884 63,037 128,921 62,624 61,056 59,773 57,111 240,564 Net investment gains (losses) (7,343) (3,243) (10,586) (7,167) (1,243) (7,713) (6,684) (22,807) Other income 1,060 2,196 3,256 584 720 2,207 402 3,913 Total revenues 304,890 306,776 611,666 301,776 309,588 298,834 291,576 1,201,774 LOSSES AND EXPENSES: Losses incurred 25,289 30,541 55,830 23,813 12,164 (16,821) 19,501 38,657 Acquisition and operating expenses, net of deferrals 50,598 50,094 100,692 55,325 53,091 53,960 50,934 213,310 Amortization of deferred acquisition costs and intangibles 2,205 2,429 4,634 2,522 2,586 2,292 2,259 9,659 Interest expense 12,296 12,291 24,587 12,262 12,290 13,644 12,961 51,157 Loss on debt extinguishment 0 0 0 0 0 10,930 0 10,930 Total losses and expenses 90,388 95,355 185,743 93,922 80,131 64,005 85,655 323,713 INCOME BEFORE INCOME TAXES 214,502 211,421 425,923 207,854 229,457 234,829 205,921 878,061 Provision for income taxes 46,694 45,643 92,337 45,116 48,788 51,156 44,933 189,993 NET INCOME $167,808 $165,778 $333,586 $162,738 $180,669 $183,673 $160,988 $688,068 Net investment (gains) losses $7,343 $3,243 $10,586 $7,167 $1,243 $7,713 $6,684 $22,807 Costs associated with reorganization (24) 629 605 411 848 3,435 (42) 4,652 Loss on debt extinguishment 0 0 0 0 0 10,930 0 10,930 Taxes on adjustments (1,537) (813) (2,350) (1,591) (439) (4,636) (1,395) (8,061) Adjusted Operating Income $173,590 $168,837 $342,427 $168,725 $182,321 $201,115 $166,235 $718,396 Loss ratio (1) 10 % 12 % 11 % 10 % 5 % (7)% 8 % 4 % Expense ratio (2) 22 % 21 % 21 % 24 % 22 % 23 % 22 % 23 % Earnings per share data: Net income per share Basic $1.12 $1.09 $2.21 $1.06 $1.16 $1.17 $1.01 $4.40 Diluted $1.11 $1.08 $2.20 $1.05 $1.15 $1.16 $1.01 $4.37 Adjusted operating income per share Basic $1.16 $1.11 $2.27 $1.10 $1.17 $1.28 $1.05 $4.60 Diluted $1.15 $1.10 $2.26 $1.09 $1.16 $1.27 $1.04 $4.56 Weighted-average common shares outstanding Basic 149,940 151,831 150,885 153,537 155,561 157,193 158,818 156,277 Diluted 150,729 152,907 151,818 154,542 157,016 158,571 160,087 157,554 (2)The ratio of acquisition and operating expenses, net of deferrals, and amortization of deferred acquisition costs and intangibles to net earned premiums. Expenses associated with restructuring costs increased the expense ratio by zero percentage points for the three months ended June 30, 2025 and March 31, 2025, one percentage point for the three months ended December 31, 2024, zero percentage points for the three months ended September 30, 2024, one percentage point for the three months ended June 30, 2024, and zero percentage points for the three months ended March 31, 2024. 2024 (1)The ratio of losses incurred to net earned premiums. Consolidated Statements of Income (amounts in thousands, except per share amounts) 2025 Page 3

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Enact Holdings, Inc. Financial Supplement Second Quarter 2025 June 30, 2025 March 31, 2025 December 31, 2024 September 30, 2024 June 30, 2024 March 31, 2024 Assets Investments: Fixed maturity securities available-for-sale, at fair value $5,896,818 $5,815,337 $5,624,773 $5,652,399 $5,331,345 $5,351,138 Short term investments 3,001 3,696 3,367 1,550 12,313 9,963 Total investments 5,899,819 5,819,033 5,628,140 5,653,949 5,343,658 5,361,101 Cash and cash equivalents 612,967 635,269 599,432 673,363 699,035 614,330 Accrued investment income 53,259 49,654 49,595 45,954 45,317 43,450 Deferred acquisition costs 22,910 23,322 23,771 24,160 24,619 24,861 Premiums receivable 44,091 46,451 53,031 48,834 48,698 43,927 Other assets 107,882 103,351 102,549 100,723 98,929 126,644 Deferred tax asset 32,545 44,440 65,013 50,063 89,116 89,370 Total assets $6,773,473 $6,721,520 $6,521,531 $6,597,046 $6,349,372 $6,303,683 Liabilities and Shareholder's Interest Liabilities: Loss reserves $551,940 $542,528 $524,715 $510,401 $508,138 $531,443 Unearned premiums 101,205 107,519 114,680 121,382 129,870 138,886 Other liabilities 153,447 208,667 142,990 186,312 143,167 173,500 Long-term borrowings 743,753 743,399 743,050 742,706 742,368 746,090 Total liabilities 1,550,345 1,602,113 1,525,435 1,560,801 1,523,543 1,589,919 Equity: Common stock 1,484 1,508 1,523 1,544 1,561 1,577 Additional paid-in capital 1,927,372 2,007,776 2,076,788 2,145,518 2,220,903 2,264,198 Accumulated other comprehensive income (104,342) (152,482) (207,455) (101,984) (236,305) (237,477) Retained earnings 3,398,614 3,262,605 3,125,240 2,991,167 2,839,670 2,685,466 Total equity $5,223,128 $5,119,407 $4,996,096 $5,036,245 $4,825,829 $4,713,764 Total liabilities and equity $6,773,473 $6,721,520 $6,521,531 $6,597,046 $6,349,372 $6,303,683 Book value per share $35.20 $33.96 $32.80 $32.61 $30.91 $29.89 Book value per share excluding accumulated other comprehensive income $35.90 $34.97 $34.16 $33.27 $32.43 $31.40 U.S. GAAP ROE (1) 13.0 % 13.1 % 13.0 % 14.7 % 15.4 % 13.8 % Net investment (gains) losses 0.6 % 0.3 % 0.6 % 0.1 % 0.6 % 0.6 % Costs associated with reorganization 0.0 % 0.0 % 0.0 % 0.1 % 0.3 % 0.0 % (Gains) losses on early extinguishment of debt 0.0 % 0.0 % 0.0 % 0.0 % 0.9 % 0.0 % Taxes on adjustments (0.1)% (0.1)% (0.1)% 0.0 % (0.4)% (0.1)% Adjusted Operating ROE(2) 13.4 % 13.4 % 13.5 % 14.8 % 16.9 % 14.2 % Debt to capital ratio 12 % 13 % 13 % 13 % 13 % 14 % (2) Calculated as annualized adjusted operating income for the period indicated divided by the average of current period and prior periods' ending total stockholders' equity. (1) Calculated as annualized net income for the period indicated divided by the average of current period and prior periods' ending total stockholders' equity. Consolidated Balance Sheets (amounts in thousands, except per share amounts) Page 4

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Enact Holdings, Inc. Financial Supplement Second Quarter 2025 Total Direct NIW % of NIW NIW % of NIW NIW % of NIW NIW % of NIW NIW % of NIW NIW % of NIW NIW % of NIW NIW % of NIW Product Primary $13,254 100 % $9,818 100 % $23,072 100 % $13,266 100 % $13,591 100 % $13,619 100 % $10,526 100 % $51,002 100 % Pool 0 - % 0 - % 0 - % 0 - % 0 - % 0 - % 0 - % 0 - % Total $13,254 100 % $9,818 100 % $23,072 100 % $13,266 100 % $13,591 100 % $13,619 100 % $10,526 100 % $51,002 100 % Primary Only Origination Purchase $12,335 93 % $9,139 93 % $21,474 93 % $11,466 86 % $12,982 96 % $13,173 97 % $10,072 96 % $47,693 94 % Refinance 919 7 % 679 7 % 1,598 7 % 1,800 14 % 609 4 % 446 3 % 454 4 % 3,309 6 % Total Primary $13,254 100 % $9,818 100 % $23,072 100 % $13,266 100 % $13,591 100 % $13,619 100 % $10,526 100 % $51,002 100 % Payment Type Monthly $12,688 96 % $9,229 94 % $21,917 95 % $12,768 96 % $12,851 95 % $13,177 97 % $10,034 95 % $48,830 96 % Single 554 4 % 576 6 % 1,130 5 % 483 4 % 722 5 % 422 3 % 475 5 % 2,102 4 % Other(1) 12 - % 13 - % 25 - % 15 - % 18 - % 20 - % 17 - % 70 —% Total Primary $13,254 100 % $9,818 100 % $23,072 100 % $13,266 100 % $13,591 100 % $13,619 100 % $10,526 100 % $51,002 100 % FICO Scores Over 760 $6,843 52 % $4,989 51 % $11,832 51 % $6,721 51 % $6,433 47 % $6,471 47 % $5,218 49 % $24,843 49 % 740 - 759 2,160 16 % 1,590 16 % 3,750 16 % 2,147 16 % 2,172 16 % 2,113 16 % 1,664 16 % 8,096 16 % 720 - 739 1,651 12 % 1,280 13 % 2,931 13 % 1,706 13 % 1,855 14 % 1,839 13 % 1,368 13 % 6,768 13 % 700 - 719 1,146 9 % 894 9 % 2,040 9 % 1,210 9 % 1,398 10 % 1,334 10 % 990 9 % 4,932 10 % 680 - 699 746 6 % 548 6 % 1,294 6 % 810 6 % 905 7 % 893 7 % 629 6 % 3,237 6 % 660 - 679(2) 411 3 % 313 3 % 724 3 % 363 3 % 446 3 % 562 4 % 388 4 % 1,759 3 % 640 - 659 212 1 % 145 1 % 357 1 % 222 2 % 268 2 % 289 2 % 193 2 % 972 2 % 620 - 639 80 1 % 51 1 % 131 1 % 80 - % 105 1 % 111 1 % 73 1 % 369 1 % <620 5 - % 8 - % 13 - % 7 - % 9 - % 7 - % 3 - % 26 - % Total Primary $13,254 100 % $9,818 100 % $23,072 100 % $13,266 100 % $13,591 100 % $13,619 100 % $10,526 100 % $51,002 100 % Weighted Avg FICO 754 753 753 753 749 749 751 751 Loan-To-Value Ratio 95.01% and above $2,615 20 % $2,019 21 % $4,634 20 % $2,394 18 % $2,766 20 % $2,707 20 % $2,262 21 % $10,129 20 % 90.01% to 95.00% 4,850 37 % 3,571 36 % 8,421 36 % 4,934 37 % 5,232 39 % 5,228 38 % 3,876 37 % 19,270 38 % 85.01% to 90.00% 3,919 29 % 2,913 30 % 6,832 30 % 4,198 32 % 4,044 30 % 4,190 31 % 3,177 30 % 15,609 30 % 85.00% and below 1,870 14 % 1,315 13 % 3,185 14 % 1,740 13 % 1,549 11 % 1,494 11 % 1,211 12 % 5,994 12 % Total Primary $13,254 100 % $9,818 100 % $23,072 100 % $13,266 100 % $13,591 100 % $13,619 100 % $10,526 100 % $51,002 100 % Weighted Avg LTV 93 % 93 % 93 % 92 % 93 % 93 % 93 % 93 % Debt-To-Income Ratio 45.01% and above $3,877 29 % $2,852 29 % $6,729 29 % $3,599 27 % $3,742 28 % $4,039 30 % $3,165 30 % $14,545 28 % 38.01% to 45.00% 4,747 36 % 3,591 37 % 8,338 36 % 4,825 36 % 5,026 37 % 5,036 37 % 3,824 36 % 18,711 37 % 38.00% and below 4,630 35 % 3,375 34 % 8,005 35 % 4,842 37 % 4,823 35 % 4,544 33 % 3,537 34 % 17,746 35 % Total Primary $13,254 100 % $9,818 100 % $23,072 100 % $13,266 100 % $13,591 100 % $13,619 100 % $10,526 100 % $51,002 100 % Weighted Avg DTI 40 % 40 % 40 % 40 % 40 % 40 % 40 % 40 % Avg loan size (thousands) $380 $378 $379 $373 $362 $363 $366 $365 (2)Loans with unknown FICO scores are included in the 660-679 category. (1)Includes loans with annual and split payment types. Direct New Insurance Written Metrics (amounts in millions) 3Q Total1Q2Q 2024 4QTotal1Q2Q 2025 Page 5

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Enact Holdings, Inc. Financial Supplement Second Quarter 2025 Total Direct IIF % of IIF IIF % of IIF IIF % of IIF IIF % of IIF IIF % of IIF IIF % of IIF Product Primary $269,754 100 % $268,366 100 % $268,825 100 % $268,003 100 % $266,060 100 % $263,645 100 % Pool 355 - % 367 - % 379 - % 394 - % 408 - % 422 - % Total $270,109 100 % $268,733 100 % $269,204 100 % $268,397 100 % $266,468 100 % $264,067 100 % Primary Only Origination Purchase $246,701 91 % $244,409 91 % $243,730 91 % $242,514 90 % $238,699 90 % $234,211 89 % Refinance 23,053 9 % 23,957 9 % 25,095 9 % 25,489 10 % 27,361 10 % 29,434 11 % Total Primary $269,754 100 % $268,366 100 % $268,825 100 % $268,003 100 % $266,060 100 % $263,645 100 % Payment Type Monthly $243,382 90 % $241,572 90 % $241,785 90 % $240,369 89 % $237,721 89 % $234,747 89 % Single 24,749 9 % 25,108 9 % 25,301 9 % 25,844 10 % 26,495 10 % 27,013 10 % Other(1) 1,623 1 % 1,686 1 % 1,739 1 % 1,790 1 % 1,844 1 % 1,885 1 % Total Primary $269,754 100 % $268,366 100 % $268,825 100 % $268,003 100 % $266,060 100 % $263,645 100 % Book Year 2008 and prior $4,535 2 % $4,706 2 % $4,860 2 % $5,011 2 % $5,238 2 % $5,420 2 % 2009-2017 7,482 3 % 8,143 3 % 9,045 3 % 10,138 4 % 11,343 4 % 12,383 5 % 2018 4,362 1 % 4,584 2 % 4,790 2 % 5,037 2 % 5,300 2 % 5,524 2 % 2019 10,446 4 % 10,966 4 % 11,415 4 % 11,924 4 % 12,524 5 % 13,126 5 % 2020 31,497 12 % 33,268 12 % 34,940 13 % 36,958 14 % 39,502 15 % 42,183 16 % 2021 51,345 19 % 54,493 20 % 57,266 21 % 60,342 22 % 63,582 24 % 66,971 25 % 2022 49,640 18 % 51,444 19 % 53,063 20 % 54,878 20 % 56,456 21 % 58,051 22 % 2023 42,204 16 % 43,938 16 % 45,208 17 % 47,387 18 % 48,520 18 % 49,556 19 % 2024 45,708 17 % 47,107 18 % 48,238 18 % 36,328 14 % 23,595 9 % 10,431 4 % 2025 22,535 8 % 9,717 4 % 0 - % 0 - % 0 - % 0 - % Total Primary $269,754 100 % $268,366 100 % $268,825 100 % $268,003 100 % $266,060 100 % $263,645 100 % (1)Includes loans with annual and split payment types. 4Q 3Q1Q Direct Insurance In-Force (IIF) Metrics Excludes run-off business, which is immaterial to our results (amounts in millions) 1Q 2024 2Q2Q 2025 Page 6

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Enact Holdings, Inc. Financial Supplement Second Quarter 2025 IIF % of IIF IIF % of IIF IIF % of IIF IIF % of IIF IIF % of IIF IIF % of IIF FICO Scores Over 760 $117,403 44 % $115,914 43 % $115,554 43 % $114,424 43 % $113,115 43 % $111,589 43 % 740 - 759 44,191 16 % 43,924 17 % 43,955 17 % 43,793 17 % 43,485 17 % 43,155 17 % 720 - 739 37,725 14 % 37,643 14 % 37,717 14 % 37,671 14 % 37,407 14 % 37,068 14 % 700 - 719 29,524 11 % 29,629 11 % 29,819 11 % 29,910 11 % 29,781 11 % 29,679 11 % 680 - 699 20,910 8 % 21,082 8 % 21,355 8 % 21,557 8 % 21,596 8 % 21,628 8 % 660 - 679(1) 11,040 4 % 11,126 4 % 11,245 4 % 11,391 4 % 11,417 4 % 11,316 4 % 640 - 659 6,018 2 % 6,068 2 % 6,147 2 % 6,179 2 % 6,167 2 % 6,109 2 % 620 - 639 2,395 1 % 2,419 1 % 2,461 1 % 2,495 1 % 2,491 1 % 2,488 1 % <620 548 - % 561 - % 572 - % 583 - % 601 - % 613 - % Total Primary $269,754 100 % $268,366 100 % $268,825 100 % $268,003 100 % $266,060 100 % $263,645 100 % Weighted Avg FICO 746 745 745 745 745 744 Loan-To-Value Ratio 95.01% and above $52,438 20 % $51,280 19 % $50,318 18 % $49,363 18 % $47,837 18 % $46,259 17 % 90.01% to 95.00% 112,683 42 % 112,086 42 % 112,362 42 % 111,992 42 % 110,825 42 % 109,566 42 % 85.01% to 90.00% 79,237 29 % 79,332 29 % 79,932 30 % 79,628 30 % 79,132 30 % 78,214 30 % 85.00% and below 25,396 9 % 25,668 10 % 26,213 10 % 27,020 10 % 28,266 10 % 29,606 11 % Total Primary $269,754 100 % $268,366 100 % $268,825 100 % $268,003 100 % $266,060 100 % $263,645 100 % Weighted Avg LTV 93 % 93 % 93 % 93 % 93 % 93 % Debt-To-Income Ratio 45.01% and above $62,216 23 % $60,714 23 % $59,864 22 % $58,718 22 % $57,044 21 % $54,943 21 % 38.01% to 45.00% 98,136 36 % 97,492 36 % 97,361 36 % 96,861 36 % 95,760 36 % 94,459 36 % 38.00% and below 109,402 41 % 110,160 41 % 111,600 42 % 112,424 42 % 113,256 43 % 114,243 43 % Total Primary $269,754 100 % $268,366 100 % $268,825 100 % $268,003 100 % $266,060 100 % $263,645 100 % Weighted Avg DTI 39 % 39 % 39 % 38 % 38 % 38 % Primary persistency rate 82 % 84 % 82 % 83 % 83 % 85 % Avg loan size (thousands) $283 $281 $279 $277 $274 $272 (1)Loans with unknown FICO scores are included in the 660-679 category. 4Q1Q Direct Insurance In-Force (IIF) Metrics Excludes run-off business, which is immaterial to our results (amounts in millions) 1Q2Q 2024 3Q2Q 2025 Page 7

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Enact Holdings, Inc. Financial Supplement Second Quarter 2025 Total Direct RIF % of RIF RIF % of RIF RIF % of RIF RIF % of RIF RIF % of RIF RIF % of RIF Product Primary $70,401 100 % $69,937 100 % $69,985 100 % $69,611 100 % $68,878 100 % $67,950 100 % Pool 54 - % 55 - % 57 - % 60 - % 65 - % 67 - % Total $70,455 100 % $69,992 100 % $70,042 100 % $69,671 100 % $68,943 100 % $68,017 100 % Primary Only Origination Purchase $64,901 92 % $64,228 92 % $64,031 91 % $63,622 91 % $62,553 91 % $61,263 90 % Refinance 5,500 8 % 5,709 8 % 5,954 9 % 5,989 9 % 6,325 9 % 6,687 10 % Total Primary $70,401 100 % $69,937 100 % $69,985 100 % $69,611 100 % $68,878 100 % $67,950 100 % Payment Type Monthly $64,676 92 % $64,113 92 % $64,078 91 % $63,582 91 % $62,649 91 % $61,606 91 % Single 5,311 7 % 5,395 8 % 5,466 8 % 5,575 8 % 5,762 8 % 5,867 8 % Other(1) 414 1 % 429 - % 441 1 % 454 1 % 467 1 % 477 1 % Total Primary $70,401 100 % $69,937 100 % $69,985 100 % $69,611 100 % $68,878 100 % $67,950 100 % Book Year 2008 and prior $1,173 2 % $1,217 2 % $1,256 2 % $1,296 2 % $1,351 2 % $1,397 2 % 2009-2017 1,939 3 % 2,119 3 % 2,368 3 % 2,666 4 % 2,988 4 % 3,267 5 % 2018 1,124 2 % 1,181 2 % 1,233 2 % 1,297 2 % 1,363 2 % 1,419 2 % 2019 2,732 4 % 2,867 4 % 2,984 4 % 3,113 4 % 3,261 5 % 3,403 5 % 2020 8,646 12 % 9,119 13 % 9,553 14 % 10,042 14 % 10,601 15 % 11,181 16 % 2021 13,732 19 % 14,427 21 % 15,043 21 % 15,710 23 % 16,422 24 % 17,174 25 % 2022 12,681 18 % 13,102 19 % 13,476 19 % 13,892 20 % 14,254 21 % 14,629 22 % 2023 10,968 15 % 11,403 16 % 11,719 17 % 12,271 18 % 12,552 18 % 12,810 19 % 2024 11,720 17 % 12,070 17 % 12,353 18 % 9,324 13 % 6,086 9 % 2,670 4 % 2025 5,686 8 % 2,432 3 % 0 - % 0 - % 0 - % 0 - % Total Primary $70,401 100 % $69,937 100 % $69,985 100 % $69,611 100 % $68,878 100 % $67,950 100 % (1)Includes loans with annual and split payment types. Direct Risk In-Force (RIF) Metrics Excludes run-off business, which is immaterial to our results (amounts in millions) 1Q2Q4Q 3Q 2024 1Q2Q 2025 Page 8

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Enact Holdings, Inc. Financial Supplement Second Quarter 2025 RIF % of RIF RIF % of RIF RIF % of RIF RIF % of RIF RIF % of RIF RIF % of RIF FICO Scores Over 760 $30,502 43 % $30,093 43 % $29,985 43 % $29,644 43 % $29,219 43 % $28,703 42 % 740 - 759 11,579 17 % 11,493 17 % 11,494 17 % 11,423 17 % 11,305 17 % 11,167 17 % 720 - 739 9,983 14 % 9,939 14 % 9,949 14 % 9,912 14 % 9,809 14 % 9,669 14 % 700 - 719 7,701 11 % 7,711 11 % 7,746 11 % 7,751 11 % 7,688 11 % 7,629 11 % 680 - 699 5,432 8 % 5,464 8 % 5,523 8 % 5,553 8 % 5,540 8 % 5,524 8 % 660 - 679(1) 2,886 4 % 2,901 4 % 2,924 4 % 2,951 4 % 2,948 4 % 2,908 4 % 640 - 659 1,565 2 % 1,574 2 % 1,589 2 % 1,592 2 % 1,582 2 % 1,562 3 % 620 - 639 614 1 % 619 1 % 629 1 % 636 1 % 634 1 % 632 1 % <620 139 - % 143 - % 146 - % 149 - % 153 - % 156 - % Total Primary $70,401 100 % $69,937 100 % $69,985 100 % $69,611 100 % $68,878 100 % $67,950 100 % Loan-To-Value Ratio 95.01% and above $15,034 21 % $14,682 21 % $14,428 21 % $14,141 20 % $13,722 20 % $13,250 20 % 90.01% to 95.00% 32,770 47 % 32,597 47 % 32,686 47 % 32,579 47 % 32,254 47 % 31,881 47 % 85.01% to 90.00% 19,558 28 % 19,583 28 % 19,729 28 % 19,649 28 % 19,510 28 % 19,265 28 % 85.00% and below 3,039 4 % 3,075 4 % 3,142 4 % 3,242 5 % 3,392 5 % 3,554 5 % Total Primary $70,401 100 % $69,937 100 % $69,985 100 % $69,611 100 % $68,878 100 % $67,950 100 % Debt-To-Income Ratio 45.01% and above $16,325 23 % $15,910 23 % $15,674 22 % $15,353 22 % $14,867 22 % $14,265 21 % 38.01% to 45.00% 25,463 36 % 25,273 36 % 25,226 36 % 25,052 36 % 24,706 36 % 24,289 36 % 38.00% and below 28,613 41 % 28,754 41 % 29,085 42 % 29,206 42 % 29,305 42 % 29,396 43 % Total Primary $70,401 100 % $69,937 100 % $69,985 100 % $69,611 100 % $68,878 100 % $67,950 100 % (1)Includes loans with annual and split payment types. 4Q Direct Risk In-Force (RIF) Metrics Excludes run-off business, which is immaterial to our results (amounts in millions) 1Q2Q 2024 3Q1Q2Q 2025 Page 9

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Enact Holdings, Inc. Financial Supplement Second Quarter 2025 2Q 1Q 4Q 3Q 2Q 1Q Beginning Number of Primary Delinquencies 22,349 23,566 21,027 19,051 19,492 20,432 New delinquencies 11,567 12,237 13,717 12,964 10,461 11,395 Delinquency cures (11,574) (13,263) (10,971) (10,749) (10,731) (12,160) Paid claims (218) (179) (191) (220) (160) (172) Rescissions and claim denials (6) (12) (16) (19) (11) (3) Ending Number of Primary Delinquencies 22,118 22,349 23,566 21,027 19,051 19,492 Primary Policies in Force (count) 952,795 955,210 962,849 967,501 969,767 969,866 Primary delinquency rate 2.32 % 2.34 % 2.45 % 2.17 % 1.96 % 2.01 % Incurred Losses: Direct primary case(1) $23,375 $27,237 $20,678 $6,993 ($17,260) $15,540 All other(1) 1,914 3,304 3,135 5,171 439 3,961 Total Incurred Losses $25,289 $30,541 $23,813 $12,164 ($16,821) $19,501 Direct Primary Case Incurred Losses(2) Current quarter delinquencies(3) $69,605 $74,627 $77,674 $75,193 $59,763 $74,087 Development of current quarter delinquencies (4) 0 0 0 0 0 0 Prior period development and other (46,230) (47,390) (56,996) (68,200) (77,023) (58,547) Direct Primary Case Incurred Losses $23,375 $27,237 $20,678 $6,993 ($17,260) $15,540 Reserves: Direct primary case(1) $499,774 $489,329 $472,110 $460,513 $462,247 $485,791 All other(1) 52,166 53,199 52,605 49,888 45,891 45,652 Total Reserves $551,940 $542,528 $524,715 $510,401 $508,138 $531,443 Beginning Direct Primary Case Reserves $489,329 $472,110 $460,513 $462,247 $485,791 $476,709 Paid claims (12,930) (10,018) (9,081) (8,727) (6,284) (6,458) Change in reserves 23,375 27,237 20,678 6,993 (17,260) 15,540 Ending Direct Primary Case Reserves $499,774 $489,329 $472,110 $460,513 $462,247 $485,791 Average Reserve Per Primary Delinquency (5) $22.6 $21.9 $20.0 $21.9 $24.3 $24.9 Average Direct Primary Paid Claim (6) $59.3 $56.0 $47.5 $39.7 $39.3 $37.5 Delinquency Metrics Primary metrics exclude run-off business, which is immaterial to our results (dollar amounts in thousands) 2024 (5) Direct primary case reserves divided by primary delinquency count. 2025 (6) Average direct primary paid claim is calculated by dividing paid claims on direct primary case reserves by the number of paid claims for the quarter. Average paid claims in each quarter of 2024 include payments in relation to agreements on non-performing loans. (2) Provides additional breakdown of incurred losses, which includes the impact of new delinquencies within each quarterly period reported. We believe providing loss information in this manner allows transparency and consistency for investors to understand performance. (3) Defaulted loans with most recent delinquency notice in the quarter indicated. (1) Direct primary case excludes loss adjustment expenses (LAE), pool, incurred but not reported (IBNR) and reinsurance reserves. (4) Development of current quarter delinquencies within the current quarter. This includes reserve impact from current period delinquencies that cure in the period and reserve development from the date of delinquency to quarter end. Page 10

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Enact Holdings, Inc. Financial Supplement Second Quarter 2025 Percentage Reserved by Payment Status Delinquencies Case Reserves Risk In- Force Reserves as % of RIF Delinquencies Case Reserves Risk In- Force Reserves as % of RIF Delinquencies Case Reserves Risk In- Force Reserves as % of RIF 3 payments or less in default 11,011 $103 $734 14 % 12,712 $108 $849 13 % 9,704 $79 $613 13 % 4 - 11 payments in default 7,733 212 574 37 % 7,701 191 545 35 % 6,306 210 437 48 % 12 payments or more in default 3,374 185 240 77 % 3,153 173 213 81 % 3,041 173 195 89 % Total 22,118 $500 $1,548 32 % 23,566 $472 $1,607 29 % 19,051 $462 $1,245 37 % June 30, 2025 Missed Payment Status Tables - Direct Primary Excludes run-off business, which is immaterial to our results (dollar amounts in millions) December 31, 2024 June 30, 2024 Page 11

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Enact Holdings, Inc. Financial Supplement Second Quarter 2025 Top 10 States % RIF % Case Reserves (1) Delq Rate Top 10 MSAs / Metro Divisions % RIF % Case Reserves (1) Delq Rate Book Year RIF & Losses % RIF % Case Reserves (1) Delq Rate Cum Delq Rate (2) California 12% 13% 2.50% Phoenix, AZ MSA 3% 3% 2.32% Texas 9% 9% 2.53% Chicago-Naperville, IL MD 3% 4% 3.10% 2008 and prior 2% 9% 7.78% 5.55% Florida (3) 8% 12% 2.97% Atlanta, GA MSA 3% 3% 3.04% 2009-2017 3% 8% 4.54% 0.60% New York (3) 5% 9% 3.11% New York, NY MD 2% 5% 3.39% 2018 2% 4% 4.66% 0.91% Illinois (3) 4% 5% 2.83% Dallas, TX MD 2% 2% 2.25% 2019 4% 7% 2.99% 0.78% Arizona 4% 4% 2.30% Houston, TX MSA 2% 3% 3.15% 2020 12% 12% 2.10% 0.87% Michigan 4% 3% 2.09% Washington-Arlington, DC MD 2% 2% 2.09% 2021 19% 21% 2.23% 1.39% Georgia 3% 4% 2.86% Riverside-San Bernardino, CA MSA 2% 3% 3.05% 2022 18% 22% 2.48% 2.11% North Carolina 3% 2% 1.90% Los Angeles-Long Beach, CA MD 2% 3% 2.88% 2023 15% 12% 1.99% 1.71% Pennsylvania 3% 3% 2.16% Denver-Aurora-Lakewood, CO MSA 2% 1% 1.41% 2024 17% 5% 0.97% 0.90% All Other States (4) 45% 36% 2.04% All Other MSAs/MDs 77% 71% 2.22% 2025 8% 0% 0.11% 0.10% Total 100% 100% 2.32% Total 100% 100% 2.32% Total 100% 100% 2.32% 4.12% Top 10 States % RIF % Case Reserves (1) Delq Rate Top 10 MSAs / Metro Divisions % RIF % Case Reserves (1) Delq Rate Book Year RIF & Losses % RIF % Case Reserves (1) Delq Rate Cum Delq Rate (2) California 12% 12% 2.53% Phoenix, AZ MSA 3% 3% 2.41% Texas 9% 9% 2.64% Chicago-Naperville, IL MD 3% 4% 3.29% 2008 and prior 2% 10% 8.17% 5.55% Florida (3) 8% 12% 3.67% Atlanta, GA MSA 3% 3% 3.02% 2009-2016 2% 6% 4.75% 0.60% New York (3) 5% 10% 3.30% New York, NY MD 2% 6% 3.53% 2017 1% 4% 4.37% 0.84% Illinois (3) 4% 6% 2.96% Houston, TX MSA 2% 3% 3.58% 2018 2% 5% 4.66% 0.96% Arizona 4% 3% 2.35% Dallas, TX MD 2% 2% 2.38% 2019 4% 8% 3.31% 0.89% Michigan 4% 3% 2.14% Washington-Arlington, DC MD 2% 2% 2.03% 2020 14% 14% 2.14% 0.94% Georgia 3% 4% 3.02% Riverside-San Bernardino, CA MSA 2% 3% 3.25% 2021 21% 21% 2.25% 1.51% North Carolina 3% 2% 2.14% Los Angeles-Long Beach, CA MD 2% 2% 2.65% 2022 19% 20% 2.50% 2.18% Pennsylvania 3% 3% 2.17% Denver-Aurora-Lakewood, CO MSA 2% 1% 1.38% 2023 17% 10% 1.83% 1.64% All Other States (4) 45% 36% 2.10% All Other MSAs/MDs 77% 71% 2.35% 2024 18% 2% 0.49% 0.47% Total 100% 100% 2.45% Total 100% 100% 2.45% Total 100% 100% 2.45% 4.17% Top 10 States % RIF % Case Reserves (1) Delq Rate Top 10 MSAs / Metro Divisions % RIF % Case Reserves (1) Delq Rate Book Year RIF & Losses % RIF % Case Reserves (1) Delq Rate Cum Delq Rate (2) California 13% 12% 2.06% Phoenix, AZ MSA 3% 3% 1.86% Texas 9% 8% 2.10% Chicago-Naperville, IL MD 3% 4% 2.89% 2008 and prior 2% 14% 7.79% 5.55% Florida (3) 8% 10% 2.22% Atlanta, GA MSA 3% 3% 2.45% 2009-2016 2% 7% 3.66% 0.60% New York (3) 5% 11% 2.94% New York, NY MD 2% 7% 3.21% 2017 2% 4% 3.45% 0.78% Illinois (3) 4% 6% 2.53% Houston, TX MSA 2% 3% 2.55% 2018 2% 5% 3.89% 0.87% Arizona 4% 3% 1.76% Washington-Arlington, DC MD 2% 2% 1.79% 2019 5% 8% 2.69% 0.78% Michigan 4% 3% 1.76% Dallas, TX MD 2% 2% 1.92% 2020 15% 14% 1.64% 0.79% Georgia 3% 4% 2.30% Los Angeles-Long Beach, CA MD 2% 2% 2.24% 2021 24% 21% 1.65% 1.20% North Carolina 3% 2% 1.44% Riverside-San Bernardino, CA MSA 2% 3% 2.58% 2022 21% 20% 1.73% 1.57% Pennsylvania 3% 3% 2.02% Denver-Aurora-Lakewood, CO MSA 2% 1% 1.12% 2023 18% 7% 0.93% 0.88% All Other States (4) 44% 38% 1.77% All Other MSAs/MDs 77% 70% 1.87% 2024 9% 0% 0.13% 0.13% Total 100% 100% 1.96% Total 100% 100% 1.96% Total 100% 100% 1.96% 4.14% Delinquency Performance - Direct Primary Excludes run-off business, which is immaterial to our results June 30, 2024 (4) Includes the District of Columbia. June 30, 2025 (1) Direct primary case reserves exclude pool, loss adjustment expenses, incurred but not reported and reinsurance reserves. (2) Calculated as the sum of the number of policies where claims were ever paid to date and number of policies for loans currently in default divided by policies ever in-force. (3) Jurisdiction predominantly uses a judicial foreclosure process, which generally increases the amount of time it takes for a foreclosure to be completed. December 31, 2024 Page 12

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Enact Holdings, Inc. Financial Supplement Second Quarter 2025 Carrying Amount % of Total Carrying Amount % of Total Carrying Amount % of Total Carrying Amount % of Total Carrying Amount % of Total Carrying Amount % of Total Fixed Maturity Securities: U.S. treasuries $264,981 4 % $289,008 5 % $277,363 5 % $289,159 5 % $303,543 6 % $250,449 5 % Municipals 479,355 8 % 476,141 8 % 467,476 8 % 456,606 8 % 432,929 8 % 442,440 8 % Non-U.S. government 154,536 3 % 113,153 2 % 83,802 2 % 48,267 1 % 11,405 - % 11,381 - % U.S. corporate 2,851,475 48 % 2,900,205 50 % 2,825,679 50 % 2,871,882 51 % 2,646,014 50 % 2,745,314 51 % Non-U.S. corporate 783,184 14 % 768,953 13 % 772,624 14 % 759,329 13 % 696,573 13 % 686,637 13 % Residential MBS 261,415 4 % 111,683 2 % 8,364 - % 8,321 - % 9,404 - % 9,754 - % Commercial MBS 48,809 1 % 20,702 - % 0 - % 0 - % 0 - % 0 - % Other asset-backed 1,053,063 18 % 1,135,492 20 % 1,189,465 21 % 1,218,835 22 % 1,231,477 23 % 1,205,163 23 % Total available-for-sale fixed maturity securities $5,896,818 100 % $5,815,337 100 % $5,624,773 100 % $5,652,399 100 % $5,331,345 100 % $5,351,138 100 % Fixed Maturity Securities - Credit Quality NRSRO(1) Designation AAA $512,069 9 % $600,780 10 % $613,951 11 % $599,829 11 % $587,795 11 % $556,749 10 % AA 1,519,953 26 % 1,362,190 24 % 1,228,794 22 % 1,225,680 22 % 1,184,209 22 % 1,131,317 21 % A 1,730,742 29 % 1,704,440 29 % 1,736,450 31 % 1,767,252 31 % 1,683,198 32 % 1,711,854 32 % BBB 2,046,515 35 % 2,078,180 36 % 1,977,281 35 % 1,978,958 35 % 1,812,275 34 % 1,851,947 35 % BB & Lower 87,539 1 % 69,747 1 % 68,297 1 % 80,680 1 % 63,868 1 % 99,271 2 % Total fixed maturity securities $5,896,818 100 % $5,815,337 100 % $5,624,773 100 % $5,652,399 100 % $5,331,345 100 % $5,351,138 100 % Average duration 4.5 4.3 4.1 3.9 3.7 3.7 Average book yield 4.2 % 4.1 % 4.0 % 3.9 % 3.8 % 3.7 % (1)Nationally Recognized Statistical Rating Organizations. December 31, 2024 September 30, 2024 Composition of Consolidated Investments at Fair Value (amounts in thousands) March 31, 2024June 30, 2024March 31, 2025June 30, 2025 Page 13

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Enact Holdings, Inc. Financial Supplement Second Quarter 2025 2021-2 ILN 2021-3 ILN 2023-1 ILN 2021 XOL 2022-1 XOL 2022-2 XOL 2022-3 XOL 2022-4 XOL 2022-5 XOL 2023-1 XOL 2024-1 XOL 2024-2 XOL 2025-1 XOL 2025-2 XOL 2023-1 QSR 2024-1 QSR 2025-1 QSR 9/20-12/20 1/21-6/21 7/22-6/23 Full Year 2021 Full Year 2022 Full Year 2022 7/21-12/21 7/21-12/21 1/22-6/22 Full Year 2023 Full Year 2024 7/23-12/23 Full Year 2025 Full Year 2025 Full Year 2023 Full Year 2024 Full Year 2025 At Closing Initial Risk In-Force $8,384 $12,141 $7,288 $22,373 $15,400 $15,400 $10,550 $10,550 $8,547 $11,991 $12,062 $5,349 $5,517 $5,517 $11,991 $12,062 $5,517 Initial Reinsurance Amount / Ceded RIF (2) $303 $372 $248 $206 $196 $25 $289 $36 $201 $180 $270 $90 $75 $11 $1,934 $2,560 $1,498 Initial First Loss Retention Layer $189 $304 $244 $671 $462 $385 $317 $264 $256 $360 $362 $134 $161 $134 n/a n/a n/a Initial Attachment % (3) 2.25% 2.50% 3.35% 3.00% 3.00% 2.50% 3.00% 2.50% 3.00% 3.00% 3.00% 2.50% 2.92% 2.42% n/a n/a n/a Initial Detachment % (3) 7.00% 6.75% 6.75% 7.00% 6.99% 3.00% 7.00% 3.00% 7.00% 6.57% 6.50% 6.50% 6.17% 2.92% n/a n/a n/a % Of Covered Loss Tier Reinsured 76.00% 72.00% 100.00% 23.00% 31.92% 31.92% 68.45% 68.45% 58.80% 42.00% 63.96% 41.88% 41.58% 41.59% 16.13% 21.23% 27.15% Commencement Date 04/16/21 09/02/21 11/15/23 01/01/21 01/01/22 01/01/22 03/01/22 03/01/22 09/01/22 01/01/23 01/01/24 06/01/24 01/01/25 01/01/25 04/01/23 01/01/24 01/01/25 Termination Date 10/25/33 02/25/34 11/25/33 12/31/31 12/31/32 12/31/32 12/31/31 12/31/31 12/31/32 12/31/33 12/31/34 06/30/34 12/31/35 12/31/35 04/01/34 12/31/34 12/31/35 Optional Call Date 04/25/28 08/25/28 11/27/28 06/30/28 12/31/29 12/31/29 12/31/28 12/31/28 01/01/30 12/31/30 12/31/31 06/30/29 12/31/30 12/31/30 12/31/26 12/31/27 12/31/27 Clean-Up Call 10.0% 10.0% 10.0% 10.0% 10.0% 10.0% 10.0% 10.0% 10.0% 10.0% 10.0% 10.0% 10.0% 10.0% n/a n/a n/a As of June 30, 2025 Current Risk In-Force $3,720 $6,312 $6,178 $13,614 $12,291 $12,291 $7,088 $7,088 $6,566 $10,118 $11,449 $4,449 $5,517 $5,517 $10,118 $11,449 $5,517 Current Reinsured Amount / Ceded RIF (2) $94 $140 $206 $72 $148 $25 $142 $36 $140 $172 $270 $87 $75 $11 $1,631 $2,430 $1,498 PMIERs Required Asset Credit (4) $61 $98 $190 $69 $143 $24 $136 $35 $135 $166 $260 $84 $72 $11 $119 $171 $96 Current Attachment % (3) 5.02% 4.75% 3.91% 4.86% 3.63% 3.01% 4.38% 3.64% 3.76% 3.52% 3.16% 3.00% 2.92% 2.42% n/a n/a n/a Current Detachment % (3) 8.34% 7.84% 7.25% 7.14% 7.42% 3.63% 7.30% 4.38% 7.39% 7.57% 6.85% 7.68% 6.17% 2.92% n/a n/a n/a Enact Claims Paid $2 $4 $2 $10 $16 $16 $6 $6 $10 $4 $0 $0 $0 $0 $1 $0 $0 Incurred Losses Ever To Date (5) $27 $48 $65 $115 $120 $120 $62 $62 $67 $60 $23 $16 $1 $1 $10 $5 $0 Remaining First Loss Retention Layer $187 $300 $242 $661 $446 $369 $311 $258 $247 $356 $362 $134 $161 $134 n/a n/a n/a Reinsurer Claims Paid $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 Third Party Ceded Reinsurance Transaction Summary (amounts in millions) (1) Excess of loss (XOL) and quota share (QSR) transactions are with panels of U.S. and global reinsurers. (2) The initial reinsurance amount for insurance linked notes and excess of loss reinsurance reflects the total loss coverage; Ceded RIF reflects the RIF associated with quota share reinsurance which is subject to annual and life loss ratio limits. (3) Attachment % and detachment % are the aggregate loss amounts as a percentage of risk in force at which the reinsurer begins and stops paying claims under the policy. (4) Current PMIERs required asset credit considers the counterparty credit haircut. (5) Incurred losses ever to date shown does not include IBNR or loss adjustment expenses. Definitions: CRT = Credit Risk Transfer; RIF = Risk In Force; XOL = Excess Of Loss; ILN = Insurance Linked Note; QSR = Quota Share Reinsurance - Excess of Loss (1) Reinsurance - Quota Share (1)Insurance Linked Notes Page 14

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Enact Holdings, Inc. Financial Supplement Second Quarter 2025 2Q 1Q 4Q 3Q 2Q 1Q COMBINED(1) STAT: Statutory policyholders' surplus $821 $815 $887 $1,005 $863 $765 Contingency reserves 4,425 4,381 4,336 4,290 4,242 4,148 Combined statutory capital $5,246 $5,196 $5,223 $5,295 $5,105 $4,913 Adjusted RIF(2) $54,408 $54,569 $55,001 $55,352 $55,365 $55,254 Combined risk-to-capital ratio ("RTC") 10.4 10.5 10.5 10.5 10.8 11.2 EMICO(3) STAT: Statutory policyholders' surplus $783 $777 $850 $968 $827 $729 Contingency reserves 4,412 4,370 4,325 4,281 4,234 4,140 EMICO statutory capital $5,195 $5,147 $5,175 $5,249 $5,061 $4,869 Adjusted RIF(2) $53,763 $53,951 $54,418 $54,794 $54,834 $54,741 EMICO risk-to-capital ratio 10.3 10.5 10.5 10.4 10.8 11.2 PMIERs Available Assets(3) $4,992 $4,999 $5,095 $5,194 $5,024 $4,853 PMIERs Minimum Required Assets ($3,031) ($3,033) ($3,043) ($3,004) ($2,967) ($2,970) Available Assets Above PMIERs Requirements(3) $1,961 $1,966 $2,052 $2,190 $2,057 $1,883 PMIERs Sufficiency Ratio(4) 165 % 165 % 167 % 173 % 169 % 163 % (4) The PMIERs sufficiency ratio is calculated as available assets divided by required assets as defined within PMIERs. The current period PMIERs sufficiency ratio is an estimate due to the timing of the PMIERs filing. 2024 Capital & PMIERs (dollar amounts in millions) (3) Estimated statutory capital of Enact Mortgage Insurance Corporation (EMICO), the company's primary U.S. mortgage insurance subsidiary. (1) Reflects estimated combined statutory capital position of our mortgage insurance subsidiaries. (2) Adjusted RIF for purposes of calculating statutory RTC differs from RIF presented elsewhere in this financial supplement. In accordance with North Carolina Department of Insurance requirements, adjusted RIF excludes delinquent policies. 2025 Page 15

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