Company: MHLA
Filing Date: 2025-03-26
Form Type: DEFM14A
Source: 0001104659-25-028254
Chunk: 207

Company: Maiden Holdings, Ltd.
Filing Date: 2025-03-26
Form: DEFM14A
Chunk 207
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’s periodic Exchange Act filings with the SEC to be prepared and reported on the basis of three separate financial reporting segments (each as described below).

Legacy Reinsurance

A “Legacy Reinsurance” reporting segment will report the assets, liabilities, income, expenses and results of operations of all businesses of Bermuda NewCo and its subsidiaries that Maiden and its subsidiaries conducted as of immediately prior to the closing, and any extensions of such businesses or related or ancillary businesses existing thereafter.

Insurance Programs

An “Insurance Programs” reporting segment will report the assets, liabilities, income, expenses and results of operations of the Kestrel Business.

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Corporate

A “Corporate” reporting segment will report all general corporate and management-related expenses and costs incurred by Bermuda NewCo and its subsidiaries following the closing.

#### Noteholder Litigation Matter
The parties have agreed that from and after the closing, Bermuda NewCo will indemnify, defend and hold harmless each of the Kestrel equityholders from and against all litigation losses arising out of the Noteholder Litigation, in each case, based upon each Kestrel equityholder’s pro rata ownership percentage of Bermuda NewCo immediately following the closing.

If a settlement or judgment in respect of the Noteholder Litigation occurs at least ten business days prior to the closing, within five business days following the settlement of, or the rendering of any judgment with respect to, the Noteholder Litigation, Maiden has agreed that Maiden will provide written notice to Kestrel setting forth in reasonable detail the amount of all litigation losses arising out of the Noteholder Litigation, and whether Maiden elects to pay the aggregate of such Kestrel equityholder’s applicable percentage of such litigation losses in cash or duly authorized, validly issued, fully paid and nonassessable US NewCo limited liability company interests or a combination thereof.

If a settlement or judgment in respect of the Noteholder Litigation occurs less than ten business days prior to the closing, on the later of five business days following (i) the closing or (ii) the settlement of, or rendering of any judgment with respect to, the Noteholder Litigation, Maiden has agreed that Maiden will provide written notice to Kestrel setting forth in reasonable detail the amount of all litigation losses arising out of the Noteholder Litigation, and whether Maiden elects to pay the aggregate of such Kestrel equityholder’s applicable percentage of such litigation losses in cash or duly authorized, validly issued, fully paid and non