Stewart Reports Third Quarter 2025 Results

— Total revenues of $796.9 million ($791.3 million on an adjusted basis) compared to $667.9 million ($663.2 million on an adjusted basis) in the prior year quarter

— Net income of $44.3 million ($46.7 million on an adjusted basis) compared to net income of $30.1 million ($33.1 million on an adjusted basis) in the prior year quarter

— Diluted EPS of $1.55 ($1.64 on an adjusted basis) compared to prior year quarter diluted EPS of $1.07 ($1.17 on an adjusted basis)

Stewart Information Services Corporation (NYSE: STC) today reported net income attributable to Stewart of $44.3 million ($1.55 per diluted share) for the third quarter 2025, compared to net income attributable to Stewart of $30.1 million ($1.07 per diluted share) for the third quarter 2024. On an adjusted basis, net income for the third quarter 2025 was $46.7 million ($1.64 per diluted share) compared to net income of $33.1 million ($1.17 per diluted share) in the third quarter 2024. Pretax income before noncontrolling interests for the third quarter 2025 was $61.2 million ($64.5 million on an adjusted basis) compared to $42.8 million ($46.8 million on an adjusted basis) for the third quarter 2024.

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Third quarter 2025 results included $5.6 million of pretax net realized and unrealized gains, primarily driven by $4.3 million of net unrealized gains on fair value changes of equity securities investments and a $1.2 million realized gain on a sale of real property. Third quarter 2024 results included $4.7 million of pretax net realized and unrealized gains, primarily related to net unrealized gains on fair value changes of equity securities investments.

“I am proud of our third quarter results as they demonstrate our momentum,” commented Fred Eppinger, chief executive officer. “We are committed to growth across all business lines and are thoughtful in our operational management. The combination of these efforts allowed us to deliver solid third quarter results, even as the broad housing environment remains subdued relative to historic norms.”

Selected Financial Information Summary results of operations are as follows (dollars in millions, except per share amounts, pretax margin and adjusted pretax margin, and amounts may not add as presented due to rounding):

Quarter Ended Nine Months Ended September 30, September 30, 2025 2024 2025 2024Total revenues 796.9 667.9 2,131.1 1,824.5Pretax income before noncontrolling interests 61.2 42.8 113.8 78.9Income tax expense (13.0) (9.1) (24.6) (18.0)Net income attributable to noncontrolling interests (3.9) (3.6) (10.0) (10.4)Net income attributable to Stewart 44.3 30.1 79.3 50.6Non-GAAP adjustments, after taxes* 2.4 3.0 12.4 12.3Adjusted net income attributable to Stewart* 46.7 33.1 91.6 62.8Pretax margin 7.7% 6.4% 5.3% 4.3%Adjusted pretax margin* 8.1% 7.1% 6.2% 5.3%Net income per diluted Stewart share 1.55 1.07 2.79 1.80Adjusted net income per diluted Stewart share* 1.64 1.17 3.23 2.24*Adjusted net income, adjusted pretax margin and adjusted net income per diluted share are non-GAAP measures. SeeAppendix A for explanation and reconciliation of non-GAAP adjustments.

Title Segment Summary results of the title segment are as follows (dollars in millions, except pretax margin and adjusted pretax margin):

Quarter Ended September 30, 2025 2024 % ChangeOperating revenues 659.9 553.3 19%Investment income 14.8 13.6 9%Net realized and unrealized gains 4.2 4.8 (11%)Pretax income 62.0 45.0 38%Non-GAAP adjustments to pretax income* (1.2) (1.6)Adjusted pretax income* 60.8 43.4 40%Pretax margin 9.1% 7.9%Adjusted pretax margin* 9.0% 7.7%* Adjusted pretax income and adjusted pretax margin are non-GAAP financial measures. SeeAppendix A for explanation and reconciliation of non-GAAP adjustments.

Title segment operating revenues in the third quarter 2025 increased $106.6 million (19 percent), driven by revenue improvement of $29.0 million (11 percent) and $77.6 million (28 percent) from our direct and agency title operations, respectively, compared to the third quarter 2024. Total segment operating expenses increased $90.3 million (17 percent) compared to the prior year quarter, primarily due to $65.5 million (28 percent) increased agency retention expenses, consistent with the gross agency revenue increase, and $27.0 million (10 percent) higher combined employee costs and other operating expenses, primarily due to increased incentive compensation, outside search and service expenses and premium taxes consistent with higher title revenues, and higher salaries expense related to increased employee count. As a percentage of operating revenues, total employee costs and other operating expenses for the title segment improved to 44 percent in the third quarter 2025 compared to 47 percent in the third quarter 2024, primarily due to increased title operating revenues.

Title loss expense in the third quarter 2025 decreased by $1.7 million (8 percent) compared to the prior year quarter, primarily driven by our continued overall favorable claims experience. As a percentage of title operating revenues, the title loss expense improved to 3.0 percent in the third quarter 2025 compared to 3.8 percent in the third quarter 2024.

Investment income improved 9 percent in the third quarter 2025 compared to the prior year quarter, primarily driven by higher earned interest income from eligible escrow balances. Net realized and unrealized gains presented above were primarily related to net unrealized gains on fair value changes of equity securities investments. In addition to these net realized and unrealized gains, the title segment's adjusted pretax income included other non-GAAP adjustments of $3.0 million and $3.2 million for the third quarters 2025 and 2024, respectively, primarily driven by acquisition intangible asset amortization and related expenses (refer to Appendix A for details).

Direct title revenues information is presented below (dollars in millions):

Quarter Ended September 30, 2025 2024 % Change Non-commercial: Domestic 176.8 168.2 5% International 32.5 29.0 12% 209.3 197.2 6% Commercial: Domestic 79.1 67.4 17% International 11.3 6.1 85% 90.4 73.5 23% Total direct title revenues 299.7 270.7 11%

Domestic commercial revenues improved by $11.7 million (17 percent) in the third quarter 2025, primarily due to increased commercial closed transactions, while domestic non-commercial revenues increased $8.6 million (5 percent), primarily driven by improved purchase and refinancing closed transactions compared to the prior year quarter. Average domestic commercial fee per file for the third quarter 2025 was $17,700, which was comparable to the prior year quarter, while average domestic residential fee per file was $3,200, or 6 percent higher than the third quarter 2024. Total international revenues improved by $8.7 million (25 percent) in the third quarter 2025, primarily driven by overall increased volumes and larger commercial transactions compared to the prior year quarter.

Real Estate Solutions Segment Summary results of the real estate solutions segment are as follows (dollars in millions, except pretax margin and adjusted pretax margin):

Quarter Ended September 30, 2025 2024 % ChangeTotal revenues 116.6 96.4 21%Pretax income 7.3 7.4 (1%)Non-GAAP adjustments to pretax income* 5.9 5.5Adjusted pretax income* 13.2 12.9 2%Pretax margin 6.2% 7.7%Adjusted pretax margin* 11.3% 13.4%* Adjusted pretax income and adjusted pretax margin are non-GAAP financial measures. SeeAppendix A for an explanation and reconciliation of non-GAAP adjustments.

Segment operating revenues improved by $20.3 million (21 percent) in the third quarter 2025 compared to the third quarter 2024, primarily driven by our credit information and valuation services businesses and a recently acquired real estate information services provider. Combined employee costs and other operating expenses in the third quarter 2025 increased $19.8 million (24 percent), primarily resulting from increased costs of services related to higher revenues and higher employee costs supporting revenue growth. Non-GAAP adjustments to pretax income shown in the schedule above were related to acquisition intangible asset amortization expenses (refer to Appendix A).

Corporate Segment Net expenses attributable to corporate operations totaled $9.5 million for both the third quarters 2025 and 2024, while the segment recorded net realized gains of $1.4 million in the third quarter 2025, primarily resulting from a sale of real property.

Expenses Consolidated employee costs in the third quarter 2025 increased $17.4 million (9 percent) compared to the third quarter 2024, primarily driven by higher salaries and employee benefits expenses resulting from a 9 percent higher average employee count. As a percentage of total operating revenues, consolidated employee costs in the third quarter 2025 improved to 27.2 percent compared to 29.8 percent in the prior year quarter, primarily due to higher operating revenues in the third quarter 2025.

Consolidated other operating expenses increased $29.5 million (19 percent), primarily resulting from higher real estate solutions service expenses and title outside search and premium tax expenses related to overall revenue growth in the third quarter 2025 compared to the prior year quarter. As a percentage of total operating revenues, third quarter 2025 consolidated other operating expenses was 23.8 percent, which was comparable to 24.0 percent from the prior year quarter.

Other Net cash provided by operations improved by $16.5 million to $92.6 million in the third quarter 2025, compared to $76.1 million in the third quarter 2024, primarily driven by the higher net income in the third quarter 2025.

Third Quarter Earnings Call Stewart will hold a conference call to discuss the third quarter 2025 earnings at 8:30 a.m. Eastern Time on Thursday, October 23, 2025. To participate, dial 800-267-6316 (USA) or 203-518-9783 (International) – access code STCQ325. Additionally, participants can listen to the conference call through Stewart's Investor Relations website at https://investors.stewart.com/news-and-events/events/default.aspx. The conference call replay will be available from 11:00 a.m. Eastern Time on October 23, 2025 until midnight on October 30, 2025 by dialing (800) 839-9815 (USA) or (402) 220-2190 (International).

About Stewart Stewart (NYSE-STC) is a global real estate services company, offering products and services through our direct operations, network of Stewart Trusted Providers™ and family of companies. From residential and commercial title insurance and closing and settlement services to specialized offerings for the mortgage and real estate industries, we offer the comprehensive service, deep expertise and solutions our customers need for any real estate transaction. At Stewart, we are dedicated to becoming the premier title services company and we are committed to doing so by partnering with our customers to create mutual success. Learn more at stewart.com.

Cautionary statement regarding forward-looking statements.Certain statements in this press release are “forward-looking statements”, including statements related to Stewart's future business plans and expectations, including our plans to achieve market growth and pretax margin improvements. Forward-looking statements, by their nature, are subject to various risks and uncertainties that could cause our actual results to differ materially. Such risks and uncertainties include the volatility of general economic conditions, including economic changes that may result from new or increased tariffs, trade restrictions or geopolitical tensions, and adverse changes in the level of real estate activity, as well as a number of other risk and uncertainties discussed in detail in our documents filed with the Securities and Exchange Commission, including our Annual Report on Form 10-K for the year ended December 31, 2024, and if applicable, as supplemented by any risk factors contained in our Quarterly Reports on Form 10-Q, and our Current Reports on Form 8-K filed subsequently. We expressly disclaim any obligation to update, amend or clarify any forward-looking statements contained in this press release to reflect events or circumstances that may arise after the date hereof, except as may be required by applicable law.

ST-IR

STEWART INFORMATION SERVICES CORPORATIONCONDENSED STATEMENTS OF INCOME(In thousands of dollars, except per share amounts and except where noted) Quarter Ended Nine Months Ended September 30, September 30, 2025 2024 2025 2024Revenues:Title revenues:Direct title 299,690 270,706 822,631 736,774Agency title 360,186 282,549 928,989 764,081Real estate solutions 116,607 96,346 326,334 271,561Total operating revenues 776,483 649,601 2,077,954 1,772,416Investment income 14,819 13,626 43,733 40,833Net realized and unrealized gains 5,614 4,714 9,394 11,238 796,916 667,941 2,131,081 1,824,487Expenses:Amounts retained by agencies 299,523 233,980 773,012 634,083Employee costs 211,221 193,862 605,240 545,987Other operating expenses 185,165 155,646 519,605 444,890Title losses and related claims 19,546 21,282 58,701 59,754Depreciation and amortization 15,391 15,480 45,863 46,062Interest 4,898 4,899 14,812 14,768 735,744 625,149 2,017,233 1,745,544Income before taxes and noncontrolling interests 61,172 42,792 113,848 78,943Income tax expense (12,975) (9,123) (24,600) (17,999)Net income 48,197 33,669 89,248 60,944Less net income attributable to noncontrolling interests 3,938 3,573 9,990 10,375Net income attributable to Stewart 44,259 30,096 79,258 50,569Net earnings per diluted share attributable to Stewart 1.55 1.07 2.79 1.80Diluted average shares outstanding (000) 28,491 28,200 28,386 28,069Selected financial information:Net cash provided by operations 92,645 76,121 116,146 67,656Other comprehensive (loss) income (1,922) 18,259 18,903 10,911Third Quarter Domestic Order Counts:Opened Orders 2025: July August Sept Total Closed Orders 2025: July August Sept TotalCommercial 1,391 1,565 1,564 4,520 Commercial 1,443 1,514 1,521 4,478Purchase 18,255 16,378 16,028 50,661 Purchase 12,601 12,016 11,592 36,209Refinancing 6,620 6,961 8,818 22,399 Refinancing 4,113 4,096 4,569 12,778Other 2,971 4,277 2,575 9,823 Other 2,060 1,834 1,953 5,847Total 29,237 29,181 28,985 87,403 Total 20,217 19,460 19,635 59,312Opened Orders 2024: July August Sept Total Closed Orders 2024: July August Sept TotalCommercial 1,111 1,273 1,281 3,665 Commercial 1,140 1,318 1,336 3,794Purchase 17,796 16,403 15,259 49,458 Purchase 12,382 12,217 10,991 35,590Refinancing 6,017 7,077 7,826 20,920 Refinancing 3,617 4,016 4,133 11,766Other 3,621 3,129 6,671 13,421 Other 4,304 2,142 1,779 8,225Total 28,545 27,882 31,037 87,464 Total 21,443 19,693 18,239 59,375STEWART INFORMATION SERVICES CORPORATIONCONDENSED BALANCE SHEETS(In thousands of dollars) September 30, December 31, 2025 2024Assets:Cash and cash equivalents 188,518 216,298Short-term investments 44,647 41,199Investments in debt and equity securities, at fair value 694,818 669,099Receivables – premiums from agencies 41,065 36,753Receivables – other 149,851 111,735Allowance for uncollectible amounts (9,183) (7,725)Property and equipment, net 84,341 87,613Operating lease assets, net 109,255 102,210Title plants 75,684 74,862Goodwill 1,119,793 1,084,139Intangible assets, net of amortization 158,059 173,075Deferred tax assets 4,805 4,827Other assets 183,898 136,060 2,845,551 2,730,145Liabilities:Notes payable 446,141 445,841Accounts payable and accrued liabilities 234,472 214,580Operating lease liabilities 124,966 118,835Estimated title losses 520,445 511,534Deferred tax liabilities 37,617 28,266 1,363,641 1,319,056Stockholders' equity:Common Stock and additional paid-in capital 375,285 358,721Retained earnings 1,125,293 1,089,484Accumulated other comprehensive loss (24,494) (43,397)Treasury stock (2,666) (2,666)Stockholders' equity attributable to Stewart 1,473,418 1,402,142Noncontrolling interests 8,492 8,947Total stockholders' equity 1,481,910 1,411,089 2,845,551 2,730,145Number of shares outstanding (000) 28,020 27,764Book value per share 52.58 50.50STEWART INFORMATION SERVICES CORPORATIONSEGMENT INFORMATION(In thousands of dollars)Quarter Ended: September 30, 2025 September 30, 2024 Title Real Corporate Total Title Real Corporate Total Estate and Other Estate and Other Solutions SolutionsRevenues:Operating revenues 659,876 116,607 – 776,483 553,255 96,346 – 649,601Investment income 14,787 32 – 14,819 13,588 38 – 13,626Net realized and unrealized gains (losses) 4,236 – 1,378 5,614 4,757 – (43) 4,714 678,899 116,639 1,378 796,916 571,600 96,384 (43) 667,941Expenses:Amounts retained by agencies 299,523 – – 299,523 233,980 – – 233,980Employee costs 191,598 16,094 3,529 211,221 176,225 14,104 3,533 193,862Other operating expenses 97,482 86,479 1,204 185,165 85,853 68,634 1,159 155,646Title losses and related claims 19,546 – – 19,546 21,282 – – 21,282Depreciation and amortization 8,356 6,777 258 15,391 8,860 6,264 356 15,480Interest 419 – 4,479 4,898 406 – 4,493 4,899 616,924 109,350 9,470 735,744 526,606 89,002 9,541 625,149Income (loss) before taxes 61,975 7,289 (8,092) 61,172 44,994 7,382 (9,584) 42,792Nine Months Ended: September 30, 2025 September 30, 2024 Title Real Corporate Total Title Real Corporate Total Estate and Other Estate and Other Solutions SolutionsRevenues:Operating revenues 1,751,620 326,334 – 2,077,954 1,500,855 271,561 – 1,772,416Investment income 43,643 90 – 43,733 40,746 87 – 40,833Net realized and unrealized gains (losses) 8,059 – 1,335 9,394 11,387 – (149) 11,238 1,803,322 326,424 1,335 2,131,081 1,552,988 271,648 (149) 1,824,487Expenses:Amounts retained by agencies 773,012 – – 773,012 634,083 – – 634,083Employee costs 549,634 45,266 10,340 605,240 495,943 39,904 10,140 545,987Other operating expenses 272,241 243,494 3,870 519,605 247,371 193,703 3,816 444,890Title losses and related claims 58,701 – – 58,701 59,754 – – 59,754Depreciation and amortization 25,413 19,574 876 45,863 26,126 18,803 1,133 46,062Interest 1,265 2 13,545 14,812 1,165 7 13,596 14,768 1,680,266 308,336 28,631 2,017,233 1,464,442 252,417 28,685 1,745,544Income (loss) before taxes 123,056 18,088 (27,296) 113,848 88,546 19,231 (28,834) 78,943

Appendix A Non-GAAP Adjustments

Management uses a variety of financial and operational measurements other than its financial statements prepared in accordance with United States Generally Accepted Accounting Principles (GAAP) to analyze its performance. These include: (1) adjusted revenues, which are reported revenues adjusted for net realized and unrealized gains and losses and (2) adjusted pretax income and adjusted net income, which are reported pretax income and reported net income after earnings from noncontrolling interests, respectively, adjusted for net realized and unrealized gains and losses, acquired intangible asset amortization, and office closure costs and severance expenses. Adjusted diluted earnings per share (adjusted diluted EPS) is calculated using adjusted net income divided by the diluted average weighted outstanding shares. Adjusted pretax margin is calculated using adjusted pretax income divided by adjusted total revenues. Management views these measures as important performance measures of core profitability for its operations and as key components of its internal financial reporting. Management believes investors benefit from having access to the same financial measures that management uses.

Below are reconciliations of the non-GAAP financial measures used by management to the most directly comparable GAAP measures for the quarter and nine months ended September 30, 2025 and 2024 (dollars in millions, except shares, per share amounts and pretax margins, and amounts may not add as presented due to rounding).

Quarter Ended September 30, Nine Months Ended September 30, 2025 2024 % Chg 2025 2024 % Chg Total revenues 796.9 667.9 19% 2,131.1 1,824.5 17% Non-GAAP revenue adjustment: Net realized and unrealized gains (5.6) (4.7) (9.4) (11.2) Adjusted total revenues 791.3 663.2 19% 2,121.7 1,813.2 17%Net realized and unrealized gains:Net unrealized gains (losses) on equity securities fair value changes 4.3 4.5 9.9 11.2Net gains from sale of property and equipment 1.2 – 0.8 -Net losses from acquisition liability adjustments – – (1.0) -Net (losses) gains on sale of securities investments (0.1) 0.3 (0.5) 0.1Other items, net 0.2 (0.1) 0.2 (0.1)Total 5.6 4.7 9.4 11.2 Pretax income 61.2 42.8 43% 113.8 78.9 44% Non-GAAP pretax adjustments: Net realized and unrealized gains (5.6) (4.7) (9.4) (11.2) Acquired intangible asset amortization 8.5 8.3 25.2 25.1 Office closure and severance expenses 0.4 0.4 1.0 2.7 Adjusted pretax income 64.5 46.8 38% 130.6 95.5 37% GAAP pretax margin 7.7% 6.4% 5.3% 4.3% Adjusted pretax margin 8.1% 7.1% 6.2% 5.3% Net income attributable to Stewart 44.3 30.1 47% 79.3 50.6 57% Non-GAAP pretax adjustments: Net realized and unrealized gains (5.6) (4.7) (9.4) (11.2) Acquired intangible asset amortization 8.5 8.3 25.2 25.1 Office closure and severance expenses 0.4 0.4 1.0 2.7 Net tax effects of non-GAAP adjustments (0.9) (1.0) (4.4) (4.3) Non-GAAP adjustments, after taxes 2.4 3.0 12.4 12.3 Adjusted net income attributable to Stewart 46.7 33.1 41% 91.6 62.8 46% Diluted average shares outstanding (000) 28,491 28,200 28,386 28,069 GAAP net income per share 1.55 1.07 2.79 1.80 Adjusted net income per share 1.64 1.17 3.23 2.24 Quarter Ended September 30, Nine Months Ended September 30, 2025 2024 % Chg 2025 2024 % ChgTitle Segment:Revenues 678.9 571.6 19% 1,803.3 1,553.0 16%Net realized and unrealized gains (4.2) (4.8) (8.1) (11.4)Adjusted revenues 674.7 566.8 19% 1,795.3 1,541.6 16%Pretax income 62.0 45.0 38% 123.1 88.5 39%Non-GAAP pretax adjustments:Net realized and unrealized gains (4.2) (4.8) (8.1) (11.4)Acquired intangible asset amortization 2.8 2.8 8.4 8.5Office closure and severance expenses 0.3 0.4 0.9 2.7Adjusted pretax income 60.8 43.4 40% 124.2 88.3 41%GAAP pretax margin 9.1% 7.9% 6.8% 5.7%Adjusted pretax margin 9.0% 7.7% 6.9% 5.7%Real Estate Solutions Segment:Revenues 116.6 96.4 21% 326.4 271.6 20%Pretax income 7.3 7.4 (1%) 18.1 19.2 (6%)Non-GAAP pretax adjustment:Acquired intangible asset amortization 5.8 5.5 16.8 16.6Severance expenses 0.1 – 0.1 -Adjusted pretax income 13.2 12.9 2% 35.0 35.9 (3%)GAAP pretax margin 6.2% 7.7% 5.5% 7.1%Adjusted pretax margin 11.3% 13.4% 10.7% 13.2%

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