OXBRW

• Oxbridge is proud of fortifying and diversifying its business, with core reinsurance business writing fully collateralized policies for property loss. - Began diversifying in 2022 by establishing SurancePlus Inc., a subsidiary focused on RWA Web3 technology, offering tokenized reinsurance securities. - Positioning to be a prominent player in RWA and Web3 sector. - This quarter, expanded footprint in tokenized reinsurance market, forged strategic partnerships. - Scheduled Extraordinary General Meeting to approve measures to accelerate strategy. - Entered strategic partnership with Midnight Foundation. - Advanced 2025 and 2026 tokenized reinsurance offerings with balanced-yield and high-yield products. - Active participant and sponsor at leading blockchain and RWA events globally.

• Advancing 2025 and 2026 tokenized reinsurance offerings within the $760 billion reinsurance market TAM. - Balanced-yield product targets 20% annual return. - High-yield product targets 42% annual return assuming no underlying losses. - Alliances expand SurancePlus' reach and distribution capabilities.

For the quarter ended June 30, 2025, net premiums earned increased to $582,000 from $564,000 in the prior year quarter. For the 6 months ended June 30, 2025, net premiums earned rose to $1.18 million from $1.1 million in the prior year period. Net investment and other income for the quarter ended June 30, 2025 was $93,000 compared to $66,000 in the prior year quarter, and for the 6 months ended June 30, 2025 it was $173,000 compared to $126,000 in the prior year period. Total revenues for the quarter ended June 30, 2025 were $654,000 vs. $44,000 in the prior year quarter, and for the 6 months ended June 30, 2025 were $1.36 million vs. negative $81,000 in the prior year comparable period. Total expenses for the quarter ended June 30, 2025 increased to $2.61 million from $628,000 in the prior year quarter, and for the 6 months ended June 30, 2025 rose to $4.18 million from $1.18 million in the prior year period. Net loss for the quarter ended June 30, 2025 was $1.87 million or $0.25 per basic and diluted loss per share vs. $821,000 or $0.14 in the prior year quarter. Net loss for the 6 months ended June 30, 2025 was $2.01 million or $0.28 per basic and diluted loss per share vs. $1.73 million or $0.29 in the prior year period. Loss ratio for the quarter and 6-month periods ended June 30, 2025 was 394% and 194.8% respectively due to Hurricane Milton loss. Acquisition cost ratio remained consistent at ~11%. Expense ratio for the quarter ended June 30, 2025 was 227% vs. 111.3% in the prior year quarter, and for the 6 months ended June 30, 2025 was 160.7% vs. 105.7% in the prior year period. Combined ratio for the quarter ended June 30, 2025 was 621% vs. 111.3% in the prior year quarter, and for the 6 months ended June 30, 2025 was 355.5% vs. 105.7% in the prior year period. Investment portfolio decreased to $104,000 at June 30, 2025 from $113,000 at prior year-end. Cash and cash equivalents and restricted cash and cash equivalents increased by $760,000 to $6.7 million from $5.9 million as of December 31, 2024.

• Forward-looking statements are subject to various risks and uncertainties. - Detailed discussion of risks in Form 10-K could cause actual results to differ materially from forward-looking statements, potentially affecting business, financial condition, and earnings volatility, leading to market price and trading volume fluctuations.

Q: Congrats on growing your premium. I was interested in what takeaways you have to share with us from what you've gotten from all those attendance.

A: Yes. So first off, Allen, thanks for getting on the call and listening. Conferences, in my opinion, are very important, right, because you have various different people in the ecosystem that can congregate in various different places. And being front and center at these events is very important. We not only gain -- not only glean important information about our ecosystem, but we're also able to talk to folks about how they could -- how we all can add value by collaborating together. So some of the things that we have learned from all these conferences is what investors are, very importantly, want to know is compliance and transparency. So it's great to show yield, everybody wants to see yield, but they also want to know what kind of compliance and transparency are part of our tokenized product. Are we writing -- how are we doing -- what kind of leverage are we putting on our product? What kind of opportunity there is? And they're stunned when we tell them, there's no leverage on our product, we write one to one. And there's total transparency compliance. So SurancePlus has PCAOB-audited financials, as does Oxbridge, everything flows up. But SurancePlus has segregated PCAOB-audited financials, which is, I think, key in making sure that whole compliance aspect works. So we're making some great strides. We're making some great opportunity over here. We've opened a few different doors, some of which we have already put out and some of which we are still working to, which I think would be extremely interesting as we go forward. So all in all, very important to go on the trail, but more importantly, it's important to get the right mix of folks involved.

Q: You talked about an upcoming EGM meeting and some proposals. Could you elaborate on that, please?

A: Yes. We -- it's nothing new that we're always very transparent and open. We've put out information in the past that we are looking to get into blockchain space, RWA space in a bigger way. So part of this is not only planning for the future, making sure that we have the right partners and so on involved in this, but it's also important when the timing is right, and let me emphasize, when the timing is right, and we need to do something, we need to make sure that all the bits and pieces are in place. So the EGM that we have over here is making sure that, as opposed to hoping that things will go right once we kind of get into that spot, we are putting all the building blocks in place. So that way, when timing is right, we can move in the right direction. So very interesting space. The current administration has talked widely, widely, about not only the blockchain and crypto space, but they've also, recently in the last 2 days, have talked highly about the RWA space. We're slap-bang in that. Just to put some perspective to this, the reinsurance space is -- the TAM of the reinsurance space is $700 billion. And to just kind of put a point to it, the -- put a point to it, the -- to put a point to it, $150 is the stablecoin TAM, right? So stablecoins, which everybody talks about, the TAM on stablecoins is $150 billion. But reinsurance is a $750 billion market. So compliance, transparency, positioning the company in the right direction, making the right partners, growing the right partnerships and getting it into the right direction is where we're currently working towards.