Company: KG
Filing Date: 2025-03-10
Form Type: S-4
Source: 0001104659-25-021993
Chunk: 537

Company: Kestrel Group Ltd
Filing Date: 2025-03-10
Form: S-4
Chunk 537
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 to the commencement of the distribution. In addition, each Qualified Shareholder will be subject to applicable provisions of the Exchange Act and the rules and regulations thereunder, including Regulation M, which may limit the timing of purchases and sales of the Common Shares by each Qualified Shareholder or any other person. We will make copies of this prospectus available to each Qualified Shareholder and have informed them of the need to deliver a copy of this prospectus to each purchaser at or prior to the time of the sale (including by compliance with Rule 172 under the Securities Act).

TABLE OF CONTENTS

### ANNEX B
<div align='center'>FORM OF SELLING SECURITYHOLDER NOTICE, AGREEMENT AND QUESTIONNAIRE</div>

The undersigned (the “ Selling Securityholder ”) beneficial owner of common shares, par value $[•] (the “ Common Shares ”), of Ranger Bermuda Topco Ltd (the “ Company ”) understands that the Company intends to file with the Securities and Exchange Commission (the “ SEC ”) a registration statement on Form S-1 (the “ Long-Form Registration Statement ”) or on Form S-3 or a prospectus supplement to an existing shelf registration statement (the “ Shelf Registration Statement ” and, together with the Long-Form Registration Statement, the “ Registration Statement ”) for the registration and resale under Rule 415 of the Securities Act of 1933, as amended (the “ Securities Act ”), of certain Registrable Securities in accordance with the terms of the Registration and Investor Rights Agreement, dated as of [•], 2025 (the “ Registration and Investor Rights Agreement ”), by and between the Company and Kestrel Intermediate Ledbetter Holdings LLC. Each capitalized term not otherwise defined herein has the meaning given to it in the Registration and Investor Rights Agreement.

In order to sell or otherwise dispose of any Registrable Securities pursuant to the Registration Statement, the Selling Securityholder must be named as a selling securityholder in the related prospectus and deliver a prospectus to the purchasers of Registrable Securities. To facilitate naming of the Selling Securityholder as a selling securityholder in the Registration Statement, the Selling Securityholder must complete, execute, acknowledge and deliver this Notice, Agreement and Questionnaire prior to filing of the prospectus supplement to the Registration Statement.

Certain legal consequences arise from being named as a Selling Securityholder in the Registration Statement and the related prospectus. Accordingly, the Selling Securityholder is advised to consult its own legal counsel regarding the consequences of being named or not being named as a