Company: MHLA
Filing Date: 2025-03-26
Form Type: DEFM14A
Source: 0001104659-25-028254
Chunk: 310

Company: Maiden Holdings, Ltd.
Filing Date: 2025-03-26
Form: DEFM14A
Chunk 310
---
 | ​ | ​                                    | ​ |     — | ​ | ​ |
| Nonvested, end of year, December 31, 2024     | ​ | ​ | ​            | ​ |  37 | ​ | ​ | ​ | ​                                    | $ | 4,776 | ​ | ​ |

Note 9. Commitments and Contingencies As of December 31, 2024 and 2023, with the exception of the office lease, the company does not have any material guarantees, commitments or contingencies. There are no outstanding contractual obligations that could have a significant impact on the company’s financial position or results of operations. The Company is not a party to any claims or litigation to its business. Note 10. Concentrations Accounting principles generally accepted in the United States of America require disclosure of certain vulnerabilities due to concentrations. Major Customers For the year ended December 31, 2024, the Company has an accounts receivable balance of approximately $154,000 related to one customer. As of December 31, 2023 and 2022, the Company had an accounts receivable balance of zero. For the years ended December 31, 2024 and 2023, the Company had one customer in each year that accounted for 90% or more of the Company’s total fee revenue. The loss of this customer, or a significant reduction in the amount of business conducted with this customer, could have a material adverse effect on the Company’s financial condition. Note 11. Subsequent Events Subsequent events have been evaluated through March 10, 2025, which is the date the consolidated financial statements were issued.

F-15

TABLE OF CONTENTS

#### Annex A​

#### EXECUTION VERSION​

### COMBINATION AGREEMENT
<div align='center'>by and among</div>

### KESTREL GROUP LLC

### THE EQUITYHOLDERS OF KESTREL GROUP LLC PARTY HERETO

#### MAIDEN HOLDINGS, LTD.

#### RANGER U.S. NEWCO LLC

### RANGER BERMUDA MERGER SUB LTD

### RANGER BERMUDA TOPCO LTD

#### and

#### RANGER MERGER SUB 2 LLC

#### Dated as of December 29, 2024
TABLE OF CONTENTS

TABLE OF CONTENTS

| ​                                                                                                 | ​ | ​ | Page |   |      |   | ​ |
| ARTICLE I                                                                                         | ​ | ​ | ​    | ​ | ​