June 16, 2025

Ondo InsurTech Plc

("Ondo" or "the Company")

Bear River Mutual Insurance Company to Pilot LeakBot in the United States

Ondo Insurtech (LSE: ONDO), a leading company in claims prevention technology for home insurers, is pleased to confirm that Bear River Mutual Insurance Company has signed a contract with LeakBot USA Inc, the Company's US subsidiary.

Bear River Mutual Insurance Company ("Bear River Mutal") will pilot the LeakBot device and service to 5,000 homeowners' insurance customers in Utah.  Bear River Mutual was established on 1 July 1909 and holds the title of Utah's oldest mutual property and casualty insurance company.  Bear River Mutual currently has the 5^th largest market share among Utah personal lines insurers.

Ondo is already operating in the state of Utah for its existing customers.  The agreement with Bear River Mutual is consistent with the commercial contracts agreed with our other US customers. 

Craig Foster, Ondo CEO, says: "We are pleased to partner with Bear River Mutual.  We look forward to providing Bear River Mutual with the same compelling results we are delivering to all our insurance company partners worldwide."

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About Ondo InsurTech PLC

Ondo is a world leading provider of claims prevention technology for home insurers.  Ondo's focus is on the global scale-up of LeakBot - claims prevention technology that prevents water damage claims in houses. Water damage is the single biggest cause of home insurance claims, accounting for $17bn of claims every year in the USA and UK combined. LeakBot is a patented self-install solution that connects to the home wireless network and, if it detects a leak, notifies the customer via the LeakBot mobile app and provides access to a team of expert LeakBot engineers to 'find and fix' the problem. Independent research by Consumer Intelligence found LeakBot can reduce the cost of water damage claims by up to 70%.

LeakBot partners with 25 insurance carriers - including Nationwide, Admiral, Direct Line Group, Hiscox, Länsförsäkringar and TopDanmark - both in Europe and the USA.

Ondo holds the coveted London Stock Exchange Green Economy Mark awarded to companies who derive the majority of their income from Green activities.

For more information, visit www.ondoplc.com