Company: MHLA
Filing Date: 2025-03-26
Form Type: DEFM14A
Source: 0001104659-25-028254
Chunk: 134

Company: Maiden Holdings, Ltd.
Filing Date: 2025-03-26
Form: DEFM14A
Chunk 134
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endency or completion of the transaction, or the failure to complete the transaction, on Maiden’s relationships with its employees (including making it more difficult to attract and retain key personnel and the possible loss of key management, technical and other personnel), partners and other counterparties;

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the risks inherent in requesting, and the possibility of not obtaining in a timely manner, regulatory approvals from governmental authorities, as more fully described below under the caption “— Governmental and Regulatory Approvals;” and

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the risks of the type and nature described under the section entitled “Risk Factors,” and the matters described in such section under the caption “Cautionary Note Concerning Forward-Looking Statements.”

In addition, certain members of the Maiden board and executive officers have financial interests in the transaction that are different from, or in addition to, those of Maiden’s shareholders generally. The Maiden

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board was aware of and considered these potential interests, among other matters, in evaluating the transaction and in making its recommendation to Maiden shareholders. For a discussion of these interests, see “— Interests of Certain Maiden Persons in the Transaction.”

This discussion of the information and factors considered by the Maiden board in reaching its conclusions and recommendation includes the principal factors considered by the Maiden board but is not intended to be exhaustive and may not include all factors considered by the Maiden board. In view of the wide variety of factors considered in connection with its evaluation of the transaction, and the complexity of these matters, the Maiden board did not find it useful and did not attempt to quantify, rank or assign any relative or specific weights to the various factors that it considered in reaching its determination to approve the combination agreement and the mergers, and to make its recommendation to Maiden shareholders. Rather, the Maiden board viewed its decisions as being based on the totality of the information presented to it and the factors it considered, including its review with members of Maiden’s management and outside legal and financial advisors. In addition, individual members of the Maiden board may have assigned different weights to different factors.

### Opinion of Maiden’s Financial Advisor
Pursuant to a letter agreement, dated March 25, 2024, between Maiden and IAP (the “IAP Engagement Letter”), Maiden retained IAP to act as a financial advisor to Maiden in connection with the transaction. On December 29, 2024, IAP rendered its oral opinion to the Maiden board, which was subsequently confirmed in writing by delivery of its opinion, dated December