EXHIBIT 99.4

HERITAGE INSURANCE HOLDINGS, INC.

UNAUDITED PRO FORMA CONDENSED COMBINED FINANCIAL STATEMENTS

On August 8, 2017, Heritage Insurance Holdings, Inc. (the “Company” or “Heritage”) entered into an agreement to acquire NBIC Holdings, Inc. (“NBIC”), the parent company of Narragansett Bay Insurance Company, for approximately $250 million, including approximately $210 million in cash and shares of our common stock with an aggregate value of approximately $40 million, subject to a post-closing book value adjustment (the “Proposed Acquisition”). The Company expects to finance the cash consideration for the Proposed Acquisition through a combination of available cash, and the issuance of $125 million aggregate principal amount of unsecured senior convertible notes (the “Convertible Notes”). In connection with the issuance of the Convertible Notes, the Company anticipates repurchasing up to $40 million of its common stock. The Proposed Acquisition is expected to close as early as the fourth quarter of 2017 and is subject to customary closing conditions, including regulatory approvals.

The underlying historical financial information of Heritage and NBIC presented below was derived from the Company’s historical financial statements and NBIC’s historical financial statements filed herewith on this Form 8-K, as well as adjustments which management believes are reasonable to account for the Proposed Acquisition and the issuance of the Convertible Notes as described above (collectively, the “Proposed Transactions”).

The pro forma condensed combined statements of income for the six months ended June 30, 2017 and for the year ended December 31, 2016 assume that the Proposed Transactions had occurred on January 1, 2016. The unaudited pro forma condensed combined balance sheet as of June 30, 2017 assumes that the Proposed Transactions occurred on June 30, 2017. The Company presents these pro forma condensed combined financial results for informational purposes only, and the pro forma financial statements are not necessarily indicative of what the combined company’s results of operations or financial position would actually have been had the Proposed Transactions been completed on the dates indicated. In addition, the pro forma condensed combined statements of income do not purport to project the future operating results of the combined company.

The tax rate used for these pro forma combined condensed financial statements is an estimated statutory tax rate. As a result, it will likely vary from the actual effective rate in periods subsequent to the completion of the Proposed Transactions.

The assumptions and estimates underlying the unaudited adjustments to the pro forma condensed combined financial statements are described in the accompanying notes, which should be read together with the pro forma condensed combined statements of income and balance sheet for the periods presented, the Company’s historical financial statements and NBIC’s historical financial statements filed herewith on this Form 8-K.

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HERITAGE INSURANCE HOLDINGS, INC.

UNAUDITED PRO FORMA CONDENSED COMBINED STATEMENT OF INCOME

SIX MONTHS ENDED JUNE 30, 2017

(Amounts in thousands, except per share and share amounts)

See notes to unaudited condensed consolidated financial statements

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HERITAGE INSURANCE HOLDINGS, INC.

UNAUDITED PRO FORMA CONDENSED COMBINED STATEMENT OF INCOME

YEAR ENDED DECEMBER 31, 2016

(Amounts in thousands, except per share and share amounts)

See notes to unaudited condensed consolidated financial statements

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HERITAGE INSURANCE HOLDINGS, INC.

UNAUDITED PRO FORMA CONDENSED COMBINED BALANCE SHEET

AS OF JUNE 30, 2017

(Amounts in thousands)

See notes to unaudited condensed consolidated financial statements

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NOTES TO THE UNAUDITED PRO FORMA CONDENSED COMBINED FINANCIAL STATEMENTS

Note 1 – Basis of Preparation

The historical consolidated financial statements have been adjusted in the pro forma condensed combined financial information to give effect to pro forma events that are (1) directly attributable to the Proposed Transactions, (2) factually supportable and (3) expected to have a continuing impact on the combined results.

The Company prepared the pro forma condensed combined statements of income under the acquisition method of accounting in accordance with existing U.S. generally accepted accounting principles (“U.S. GAAP”) – Accounting Standard Codification (“ASC”) 805, Business Combinations. Under the acquisition method of accounting, the Company measured the total purchase price (consideration transferred) as described in Note 2, “Consideration Transferred,” using the market price of the Company’s common stock as of August 7, 2017. The Company based the value of the underlying tangible and intangible assets acquired and liabilities assumed on their respective estimated fair market values as of the balance sheet date, with any excess purchase price allocated to goodwill. The determination of the fair value of the NBIC’s assets and liabilities requires extensive use of estimates and management’s judgment. The Company will continue to evaluate information obtained up to and following the closing of the Proposed Acquisition, including during the measurement period, to update the fair value of assets acquired and liabilities assumed, which may differ materially from these preliminary estimates.

The pro forma condensed combined statements of income are preliminary and have been prepared solely for the purpose of providing pro forma financial information prepared in accordance with the rules and regulations prescribed by the U.S. Securities and Exchange Commission (“SEC”). Differences between these preliminary estimates and the final acquisition accounting will occur and these differences could have a material impact on the pro forma condensed combined financial information and the Company’s future consolidated results of operations.

Acquisition-related transaction costs (e.g., investment banking, advisory, legal, valuation, and other professional fees) and certain merger-related costs and charges have not been included as a component of consideration transferred as they must be expensed as incurred. Total transaction costs incurred for the year ended December 31, 2016 and the six months ended June 30, 2017 are approximately $0 and $0, respectively. The Company estimates that it will incur transaction costs totaling approximately $4.7 million in connection with the Proposed Acquisition. The costs that the Company may ultimately incur could differ materially from this amount.

In order to prepare the pro forma condensed combined statements of income, the Company performed a preliminary review of NBIC’s accounting policies to identify significant differences. During the preparation of the unaudited pro forma condensed combined financial statements, the Company did not become aware of any material differences, other than presentation of certain line items in the condensed combined statements of income and balance sheet, between the accounting policies of the Company and NBIC. The Company is currently conducting a detailed review of NBIC’s accounting policies to determine if differences in accounting policies require further adjustment or reclassification of NBIC’s presented results of operations, assets or liabilities to conform to the Company’s accounting policies and classifications. As a result of that review, the Company may identify differences between the accounting policies of the two companies that, when conformed, could have a material impact on the pro forma condensed combined financial statements. For the purpose of aligning NBIC’s presentation of certain line items in the pro forma condensed combined statements of income and balance sheet to Heritage’s presentation, reclassification adjustments have been made to NBIC’s historical financial statements, as detailed below.

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Reclassifications for the unaudited pro forma condensed combined statements of income:

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Reclassifications for the unaudited pro forma condensed combined balance sheet:

The pro forma condensed combined statements of income do not reflect the realization of any expected reinsurance or operational synergies from the acquisition of NBIC following the completion of the business combination. The pro forma condensed combined statements of income also do not include any adjustment for costs that may result from integration activities, since management has not completed its assessment of the costs, if any, associated with such activities. Significant costs may ultimately be recorded for other exit and integration activities.

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Note 2 – Consideration Transferred

The total consideration of $250 million set forth in the acquisition agreement is subject to post-closing adjustments based on the book value of NBIC at the time of closing, subject to specified caps and collars. Based on the book value of NBIC as of June 30, 2017, the total consideration under the acquisition agreement would have been adjusted to $227.6 million, which is the amount used for purposes of preparing these pro forma financial statements.

The following table summarizes the components of the estimated consideration:

Note 3 – Preliminary Purchase Price Allocation

The total purchase price as summarized above was allocated to NBIC’s tangible and intangible assets acquired and liabilities assumed for purposes of the pro forma condensed combined financial information, based on their estimated relative fair values assuming the acquisition was completed as of the pro forma balance sheet date presented.

The following table presents the Company’s preliminary estimates of the fair values of NBIC’s tangible and intangible assets acquired and liabilities assumed. Our preliminary estimates are based on the information available as of the balance sheet date and have been made solely for the purpose of providing the pro forma condensed combined financial statements.

We are continuing to evaluate the underlying inputs and assumptions used in our valuations. Accordingly, these preliminary estimates are subject to change up to the closing date of the Proposed Acquisition.

The following table summarizes the allocation of the preliminary purchase price as of the balance sheet date:

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Note 4 – Pro Forma Adjustments

The following table presents the preliminary fair values that we have assigned to the identifiable intangible assets, the average estimated useful lives, and the estimated amortization expense related to these identifiable intangible assets:

In addition, reflected in this adjustment is the derecognition of NBIC’s intangible assets of $0.4 million, which have been revalued to reflect the assets’ estimated fair values as of June 30, 2017 for the purpose of the pro forma condensed combined financial information.

The table below summarizes the adjustment to reflect the Company’s pro forma cash and cash equivalents:

The adjustments to Note payable, net of issuance costs of $97.3 million, and Additional paid-in capital of $24 million, are to reflect the liability component of the convertible debt issuance at fair value, net of unamortized debt issuance costs of $3.7 million and debt discount of $24 million, with the residual amount recorded as the equity component.

The interest expense adjustment is to reflect interest expense of $5.4 million and $10.6 million for the six months ended June 30, 2017 and the year ended December 31, 2016, respectively, related to the Convertible Notes expected to be issued in connection with the Proposed Transaction.

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The amortization adjustment of $0.09 million and $0.2 million for the six months ended June 30, 2017 and for the year ended December 31, 2016, respectively, is to reflect amortization of estimated capitalized costs to be incurred in connection with the issuance of the Convertible Notes.

Earnings per share

As described in Note 2, total estimated purchase price consideration is subject to change based on the book value of NBIC on the closing date of the Proposed Acquisition. Changes to the purchase price consideration, including the anticipated purchase price at closing of $250 million, as well as the market price of our common stock at the time of the closing of the Proposed Acquisition will impact the number of shares issued in connection with the Proposed Acquisition

In connection with the issuance of the Convertible Notes, the Company anticipates repurchasing up to $40 million of its common stock. However, because such repurchase is not a condition to the Proposed Acquisition or the issuance of the Convertible Notes, no pro forma adjustment has been made in these pro forma condensed combined financial statements to reflect such repurchase.

Deferred income taxes

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Adjustments to Additional paid-in capital reflects (1) elimination of NBIC’s historical additional paid-in capital balance, (2) issuance of Heritage’s stock to NBIC stockholders as part of total consideration and (3) equity classification of the conversion option related to the Convertible Notes.

Adjustments to Accumulated other comprehensive loss reflect the elimination of NBIC’s historical accumulated other comprehensive loss balance.

Adjustments to Retained earnings reflect (1) elimination of NBIC’s historical retained earnings balance $16.1 million and (2) transaction costs of $4.7 million resulting from the Proposed Acquisition.

Note 5 – Debt Financing Considerations

Pursuant to the rules of The New York Stock Exchange, before a company may issue convertible securities in a non-public offering that (i) are convertible into shares of common stock representing 20% or more of the shares of the Company’s common stock outstanding at such time and (ii) have a conversion price (after taking into account the maximum possible increase to the conversion rate for conversions of notes in connection with a make-whole adjustment event) that is less than either the market value or book value of the Company’s common stock at the time such securities are priced, the Company must first obtain shareholder approval prior to the issuance of such securities. If the Convertible Notes to be issued by the Company meet the conditions of the preceding clauses (i) and (ii), in order to comply with the rules of The New York Stock Exchange, the Convertible Notes will provide that until the Company has obtained the requisite shareholder approval the Convertible Notes may only be settled in cash upon conversion and, in such case, until such shareholder approval is obtained, the conversion option of the Convertible Notes will be accounted for as a separate derivative instrument liability in accordance with applicable U.S. GAAP guidance. In such case, the Company would fair value the conversion option liability on a quarterly basis and any changes to the fair value would be recorded in the statement of income as a financial gain or loss.

Once shareholder approval is obtained, the terms of the Convertible Notes will provide that the Company will have the option to settle the conversion option in shares of common stock, cash or a combination thereof, and at such time the conversion option of the Convertible Notes will qualify for equity classification and will no longer be accounted for as a separate derivative instrument liability in accordance with applicable U.S. GAAP guidance. These pro forma condensed combined financial statements have been prepared assuming the conversion option of the Convertible Notes will qualify for equity classification, and therefore will not be accounted for as a separate derivative instrument liability.

Upon conversion of the Convertible Notes, following the receipt of shareholder approval (if required), the Company intends to pay cash in respect of only the principal amount of the Convertible Notes being converted or (if lower) the conversion value thereof, and to settle any amounts in excess thereof in cash, shares of our common stock or a combination thereof, at our election.

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The following table reflects the impact on the pro forma condensed combined balance sheet as of June 30, 2017 if at the time of issuance the Convertible Notes may only be settled in cash upon conversion prior to obtaining shareholder approval, and therefore the conversion option will be accounted for as a separate derivative instrument liability.

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