Company: MHLA
Filing Date: 2025-03-26
Form Type: DEFM14A
Source: 0001104659-25-028254
Chunk: 47

Company: Maiden Holdings, Ltd.
Filing Date: 2025-03-26
Form: DEFM14A
Chunk 47
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(1) Does not include 44,750,678 Maiden shares held by Maiden Re.

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TABLE OF CONTENTS

SELECTED CONSOLIDATED HISTORICAL FINANCIAL DATA OF KESTREL The following table sets forth certain selected historical financial data of Kestrel. The selected historical consolidated statements of income data for the years ended December 31, 2024 and 2023 and the selected historical consolidated balance sheet data as of December 31, 2024 and 2023 were derived from Kestrel’s audited consolidated financial statements and related notes for the year ended December 31, 2024. The information set forth below is only a summary and is not necessarily indicative of the results of future operations of Kestrel or the combined company, and you should read the following information together with Kestrel’s audited consolidated financial statements and the notes related thereto and the section entitled “Management’s Discussion and Analysis of Financial Condition and Results of Operations of Kestrel” included herein. The historical results are not necessarily indicative of the results to be expected in any future period.

| Consolidated Statement of Operations Data(in thousands of U.S. dollars except for per share data) 
 ​                                                                                                 | ​    
 2024 | ​ | Years ended December 31, |   |     ​ | ​ | 2023 |   |   |   |      ​ |   | ​ |
|:--------------------------------------------------------------------------------------------------|:-----|:--|:-------------------------|:--|------:|:--|:-----|:--|:--|:--|-------:|:--|:--|
| Revenues:                                                                                         | ​    | ​ | ​                        | $ | 5,250 | ​ | ​    | ​ | ​ | $ |  1,330 | ​ | ​ |
| Operating Expenses:                                                                               | ​    | ​ | ​                        | ​ |     ​ | ​ | ​    | ​ | ​ | ​ |      ​ | ​ | ​ |
| Salaries and benefits                                                                             | ​    | ​ | ​                        | ​ | 3,402 | ​ | ​    | ​ | ​ | ​ |  3,525 | ​ | ​ |
| Professional fees                                                                                 | ​    | ​ | ​                        | ​ | 1,077 | ​ | ​    | ​ | ​ | ​ |  1,184 | ​ | ​ |
| Legal expenses                                                                                    | ​    | ​ | ​                        |