Ondo Insurtech Regulatory News (ONDO)

22 September 2025

Ondo InsurTech Plc

("Ondo" or the "Company")

AGM Trading Statement

Ondo InsurTech PLC (LSE: ONDO), a leader in claims prevention technology for home insurers, is holding its Annual General Meeting at midday today. At the meeting, Chairman Mark Wood will address shareholders with the following update.

"Since releasing our full-year results to 31 March 2025 on 30 July, we have continued to achieve meaningful progress, particularly in the United States. We have recently signed and launched a new partnership with Bear River Mutual-Utah's oldest mutual insurer-which includes an initial deployment to 5,000 policyholders. In addition, several of our existing partners are expanding their deployments into new states fuelling our US growth. Since the start of the current financial year we have shipped 38,000 devices to US homes which represents 80% of our global shipments and growth of over 6x year on year growth. 

Registered customers are now approximately 185,000, with the US now representing 30% of our total registered customers and more that` 50% of annualised contracted recurring revenue. 

In Europe, we have renewed our partnership with Admiral, one of the UK's top five home insurers, with a commitment to deploy 10,000 LeakBot devices during the second half of 2025. Admiral has been a valued partner since 2022. Our collaboration with NFU Mutual, another leading UK home insurer, also continues to progress well.

In Denmark, following Topdanmark's integration into If P&C Insurance, we have entered into an updated agreement that enables LeakBot to be rolled out to a broader Danish customer base through If's agent network. This represents a significant growth opportunity in a key European market.

Customer satisfaction remains central to our business. Our Net Promoter Score is now +86 across all regions (UK: 88; USA: 87; Denmark: 79), while our Customer Satisfaction Rating on Trust Pilot stands at 4.9 out of 5, reflecting the value our technology provides to both insurers and policyholders.

We are pleased to announce recent Board appointments that further enhance our governance and strategic expertise. James Quin has joined as Senior Independent Director and Chair of the Audit and Risk Committee, bringing substantial financial and regulatory experience from his previous roles at Saga, Zurich, and Citigroup. Greig Paterson joins as Non-Executive Director, contributing deep knowledge in insurance, capital markets, and strategic advisory from his time as an award-winning analyst at US Investment Bank KBW.

Looking ahead, our focus remains on scaling LeakBot globally and strengthening our relationships with leading insurers, particularly in the United States. With multiple US partners expanding into new states, we are optimistic that these efforts will accelerate our growth and reinforce our market position. This ongoing momentum underscores the demand for our technology and sets the stage for continued success in the months to come.

Enquiries

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