INSU Acquisition Corp. II Announces Effectiveness of Registration Statement for Proposed Business Combination with Metromile INSU Acquisition Corp. II Announces Effectiveness of Registration Statement for Proposed Business Combination with Metromile PHILADELPHIA, Jan. 15, 2021 — INSU Acquisition Corp. II, a publicly traded special purpose acquisition company (the “Company”) (“INSU II”) (NASDAQ: INAQ), announced today that its registration statement on Form S-4 (File No. 333-250989) (as amended, the “Registration Statement”), relating to the previously announced business combination (the “Business Combination”) with MetroMile, Inc. (“Metromile”), has been declared effective by the U.S. Securities and Exchange Commission (“SEC”) and that it will commence mailing of the definitive proxy statement/prospectus relating to the Special Meeting (the “Special Meeting”) of the Company’s stockholders to be held on February 9, 2021 in connection with the Business Combination. In light of the novel coronavirus (referred to as “COVID-19”) pandemic and to support the well-being of INSU II’s stockholders and partners, the Special Meeting will be completely virtual. The proxy statement/prospectus is being mailed to the Company’s stockholders of record as of the close of business on December 30, 2020 (the “Record Date”). Holders of INSU II’s shares of Class A Common Stock and Class B Common Stock at the close of business on the Record Date are entitled to notice of the virtual Special Meeting and to vote at the virtual Special Meeting. Notice of the Special Meeting will be mailed on or about January 19, 2021 to stockholders of record as of the Record Date.