Selective Insurance : Second Quarter 2023 Investor Presentation

INVESTOR PRESENTATION

QUARTER ENDED

JUNE 30, 2023

Safe Harbor Statement

We make certain statements and reference other information in this presentation that are "forward-looking statements" as defined in the Private Securities Litigation Reform Act of 1995 ("PSLRA"). The PSLRA provides a forward-looking statement safe harbor under the Securities

Act of 1933 and the Securities Exchange Act of 1934. These statements discuss our intentions, beliefs, projections, estimations, or forecasts of future events and financial performance. They involve known and unknown risks, uncertainties, and other factors that may cause our or our industry's actual results, activity levels, or performance to materially differ from those in or implied by the forward-looking statements

We discuss factors that could cause our actual results to differ materially from those we project, forecast, or estimate in forward-looking

statements in further detail in Selective's public filings with the United States Securities and Exchange Commission. We undertake no

obligation to publicly update or revise any forward-looking statements - whether as a result of new information, future events or otherwise - other than as the federal securities laws may require.

This presentation also includes certain non-GAAP financial measures within the meaning of Regulation G, including "non-GAAP operating earnings per share," "non-GAAP operating income," "non-GAAP operating return on equity," and adjusted book value per share. Definitions of these non-GAAP measures and a reconciliation to the most comparable GAAP figures are available in our Annual Report on Form 10-K and our Supplemental Investor Package, both found on our website <www.selective.com> under "Investors/Reports & Earnings/Presentations." We believe investors and other interested persons find these measurements helpful, as they provide a consistent basis for comparing our results between quarters and with our industry competitors. These non-GAAP measures, however, may not be comparable to similarly titled measures used outside of the insurance industry. Investors are cautioned not to unduly rely on these non-GAAP measures in assessing our overall financial performance.

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Overview

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A Track Record of Superior Execution

Nine Consecutive Years of Double-DigitNon-GAAP Operating ROEs* and Above Average Industry Growth

2022

Non-GAAP

Operating ROE

of 12.4%*

$6.0B

Market Cap (as of 9/5/2023)

95+

Years of Financial Strength and Superior Execution

$3.6B

2022 NPW (up 12% Y/Y)

95.1%

2022 GAAP Combined Ratio

*For further information on non-GAAP financial measures, please see	4
"Safe Harbor Statement" on Page 2.

Our Sustainable Competitive Advantages

Competitive Position Enhanced by Working Towards the Benefit of all our Stakeholders

Franchise value distribution

model with high-quality

partners

• Close relationships with high-quality independent agent distribution partners
• Enables effective management of pricing and retention
• Significant opportunity for profitable growth

Unique locally based

field model

• Locally based underwriting, claims, and safety management specialists
• Claims specialists regionally organized by specialty
• Empowered decision- making within regional underwriting operations

Sophisticated tools for risk

selection, pricing, and claims management

• Proven ability to develop and integrate actionable tools
• Enable effective profitability management in an uncertain loss trend environment

Superior omni-channel

customer experience delivered

by best-in-class employees

• Strong focus on customer experience
• Developing additional holistic solutions for 24- hour omni-channel shared experience
• Increased customer engagement
• Value-addedservices

Highly engaged and aligned talent across the organization

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