Company: KG
Filing Date: 2025-03-26
Form Type: 424B3
Source: 0001104659-25-028251
Chunk: 497

Company: Kestrel Group Ltd
Filing Date: 2025-03-26
Form: 424B3
Chunk 497
---
2024.

7. Counterparts . This Letter Agreement may be executed in one or more counterparts (including by electronic mail), each of which shall be deemed to be an original but all of which taken together shall constitute one and the same agreement, and shall become effective when one or more counterparts have been signed by each of the parties and delivered to the other parties.

8. Sections of the Combination Agreement . Section 10.04 ( Assignment ), Section 10.06 ( Entire Agreement; No Third-Party Beneficiaries ), Section 10.07 ( Governing Law; Jurisdiction ), Section 10.09 ( Waiver of Jury Trial ), and Section 10.11 ( Severability ) of the Combination Agreement are each hereby incorporated by reference mutatis mutandis .

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Respectfully,

### KESTREL GROUP LLC
By:

/s/ Bradford Luke Ledbetter

Name:

Bradford Luke Ledbetter

Title:

President and Chief Executive Officer

### KESTREL INTERMEDIATE LEDBETTER HOLDINGS LLC
By

/s/ Bradford Luke Ledbetter

Name:

Bradford Luke Ledbetter

Title:

Authorized Signatory

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### AMTRUST FINANCIAL SERVICES, INC.
By:

/s/ Adam Karkowsky

Name:

Adam Karkowsky

Title:

President

<div align='center'>[ Signature Page to Letter Agreement ]</div>

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/s/ Dan Dijak

Name:

Dan Dijak

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/s/ Duncan McColl

Name:

Duncan McColl

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/s/ Elise Clarke

Name:

Elise Clarke

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/s/ Rod Newcomer

Name:

Rod Newcomer

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/s/ Barb Lane

Name:

Barb Lane

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Acknowledged and agreed:

#### MAIDEN HOLDINGS, LTD.
By

/s/ Patrick