Company: KG
Filing Date: 2025-03-26
Form Type: 424B3
Source: 0001104659-25-028251
Chunk: 295

Company: Kestrel Group Ltd
Filing Date: 2025-03-26
Form: 424B3
Chunk 295
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    | ​ |    229,805 | ​ | ​ |
| Income (Loss) before taxes                                     | ​ | ​ | ​    | ​ |   354,312 | ​ | ​ | ​ | ​    | ​ | -4,215,411 | ​ | ​ |
| Provision for income taxes                                     | ​ | ​ | ​    | ​ |    30,039 | ​ | ​ | ​ | ​    | ​ |          — | ​ | ​ |
| Net Income (Loss)                                              | ​ | ​ | ​    | $ |   324,273 | ​ | ​ | ​ | ​    | $ | -4,215,411 | ​ | ​ |
| Net income (loss) per Class A units (except share information) | ​ | ​ | ​    | $ |       324 | ​ | ​ | ​ | ​    | $ |     -4,215 | ​ | ​ |
| Class A units outstanding, basic and diluted                   | ​ | ​ | ​    | ​ |     1,000 | ​ | ​ | ​ | ​    | ​ |      1,000 | ​ | ​ |
| Class A weighted-average units outstanding, basic and diluted  | ​ | ​ | ​    | ​ |     1,000 | ​ | ​ | ​ | ​    | ​ |      1,000 | ​ | ​ |

See accompanying notes to these Consolidated Financial Statements F-4

TABLE OF CONTENTS

Kestrel Group, LLC Consolidated Statement of Changes in Members’ Equity
Years Ended December 31, 2024 and 2023

| ​                          | ​ | ​ | Members’Equity |   |            |   | ​ | ​ | AccumulatedDeficit |   |            |   | ​ | ​ | TotalMembers’ Equity |   |            |   | ​ |
|:---------------------------|:--|:--|:---------------|:--|-----------:|:--|:--|:--|:-------------------|:--|-----------:|:--|:--|:--|:---------------------|:--|-----------:|:--|:--|
| Balance, December 31, 2022 | ​ | ​ | ​              | $ | 10,014,450 | ​ | ​ | ​ | ​                  | $ | -2,450,414 | ​ | ​ | ​ | ​                    | $ |