Abacus Global Management (ABX) investor relations material

Overview of longevity market assets

• Longevity market assets involve selling life insurance policies for more than their cash surrender value but less than face value, transferring ownership and premium obligations to buyers who receive the death benefit upon maturity.

• The U.S. legal framework allows life insurance to be treated as personal property, enabling a robust secondary market for these assets.

• Typical policies in scope are universal life, with options for policyholders to lapse, surrender, or sell their policies.

Market opportunity and investment highlights

• The market is underpenetrated, with over $14 trillion in outstanding individual life insurance policies and only about $4 billion in annual secondary originations.

• Investors are attracted by uncorrelated returns, investment-grade credit risk, and custom portfolio construction.

• Abacus originated over $580 million in policies in 2025, serving both internal and external investors.

Business model and competitive advantages

• Operates as an originator, asset manager, and market maker, sourcing policies through proprietary networks and direct channels.

• Revenue is generated from origination, management, and servicing fees, with a capital-light, recurring income model.

• Holds licenses in over 42 states, uses proprietary underwriting technology, and maintains strong institutional relationships.