SECURITY NATIONAL FINANCIAL Business Summary

Security National Financial Corp (SNFCA) operates as a diversified financial services holding company utilizing a vertically integrated business model across three primary segments: Life Insurance, Cemetery and Mortuary, and Mortgage Loans. The Life Insurance segment generates revenue through premiums and annuity products, specifically targeting the "end-of-life" market, while the Cemetery and Mortuary segment provides funeral services and products through a network of facilities primarily in Utah, California, and New Mexico. The Mortgage segment functions as a full-service lender, earning income through the origination, underwriting, and sale of residential and commercial loans. This horizontal integration allows the company to cross-sell services, such as funding funeral plans through its own insurance products, creating a defensive market position. SNFCA competes with large-scale insurers like Globe Life and National Life Group, as well as national mortgage lenders such as Rocket Mortgage and United Wholesale Mortgage; however, it distinguishes itself as a mid-sized, regional leader with specialized expertise in death-care financial planning. Founded in 1965 by George R. Quist, the company remains under multi-generational family leadership, currently headed by Chairman, President, and CEO Scott M. Quist, who has been with the firm since 1986 and previously served as a tax specialist at Peat, Marwick, Mitchell & Co. The executive team includes Garrett S. Sill as Chief Financial Officer and Treasurer, Jeffrey R. Stephens as Senior General Counsel, and several members of the Quist family in key operational roles, including S. Andrew Quist (VP, Mortgage Operations) and Adam G. Quist (VP, Memorial Services). The company is governed by a seasoned Board of Directors featuring independent members such as Gilbert A. Fuller, former CFO of USANA Health Sciences, and H. Craig Moody. As a publicly traded entity on the NASDAQ, the company maintains a conservative financial profile characterized by long-term insider ownership and a strategic focus on acquisition-led growth within the funeral and insurance sectors.