Lemonade Inc. Watch

from 10-K 11 pages Description of the Registrant’s Securities Registered Pursuant to Section 12 of the Securities Exchange Act of 1934, as Amended

from S-3ASR 55 pages Lemonade, Inc. Indenture Dated as of , 20___ [ ] Trustee

from 10-K 49 pages Amended and Restated Investors’ Rights Agreement

from 10-Q 4 pages Amendment No. 1 to Warrant Agreement

from 10-K 7 pages Description of the Registrant’s Securities Registered Pursuant to Section 12 of the Securities Exchange Act of 1934, as Amended

from S-1/A 1 page Lemonade, Inc. Incorporated Under the Laws of the State of Delaware See Reverse Side for Certain Definitions Fully Paid and Non-Assessable Common Shares, $0.00001 Par Value, of Lemonade, Inc., a Public Benefit Corporation Transferable on the Books of the Corporation Bycthe Hoolder Mhereof Imn Persoon or Bny Attorney Upon Surrender of This Certificate Properly Endorsed. This Certificate Is Not Valid Until Countersigned and Registered by the Transfer Agent and Registrar. in Witness Whereof, the Said Corporation Has Caused This Certificate to Be Signed by Facsimile Signatures of Its Duly Authorized Officers. . Dated: June 17, 2015 Chairman & Chief Executive Officer President & Chief Operating Officer Countersigned and Registered: American Stock Transfer & Trust Company, LLC (Brooklyn, New York) Transfer Agent and Registrar by Authorized Signature . This Certifies That S P E C I M E N Is the Owner of Cusip 000000 00 0

from S-1 43 pages Amended and Restated Voting Agreement

from S-1 44 pages Amended and Restated Investors’ Rights Agreement

from DRS 43 pages Amended and Restated Voting Agreement

from DRS 44 pages Amended and Restated Investors’ Rights Agreement