Long-tenured founder and Executive Chairman with deep mortgage insurance expertise; NMIH's 3-year stock return of +75.4% outperforms the peer group median by +12.0pp, well below the 65pp threshold needed to trigger an against vote, and no overboarding, attendance, or independence concerns apply.

CEO and director since 2022 with strong financial services and mortgage insurance background; the TSR trigger does not apply given NMIH outperforms the peer median, and no other policy flags are present.

Lead Independent Director since 2012 with extensive financial industry and governance experience; the TSR trigger does not fire (NMIH outperforms peer median by +12.0pp vs. the 65pp threshold), no overboarding (zero current outside public boards), and 100% meeting attendance reported.

Joined the board in February 2026, less than 24 months ago, so she is fully exempt from the TSR trigger under policy; she brings relevant financial services and risk management experience and holds one outside public board seat.

Long-tenured director with deep investment and financial markets expertise; the TSR trigger does not apply, he holds one outside public board seat (Ventas), and 100% meeting attendance was reported.

Director since 2023 with over four decades of financial services experience; the TSR trigger does not apply, he holds one outside public board seat (Bank of Hawaii), and 100% meeting attendance was reported.

Director since 2021 with legal, insurance, and governance expertise; the TSR trigger does not apply, she holds one outside public board seat (Realty Income), and 100% meeting attendance was reported.

Director since 2019 with extensive legal and financial services background; the TSR trigger does not apply, she holds no other current outside public board seats, and 100% meeting attendance was reported.

Long-tenured director with deep financial services and compliance expertise; the TSR trigger does not apply, he holds no other outside public board seats, and 100% meeting attendance was reported.