Company: KG
Filing Date: 2025-03-10
Form Type: S-4
Source: 0001104659-25-021993
Chunk: 491

Company: Kestrel Group Ltd
Filing Date: 2025-03-10
Form: S-4
Chunk 491
---
 18.                                                             
 Information Rights                                              
 ​                                                               | ​ | ​ | ​    | ​ | B-1-24 | ​ | ​ |
| 19.                                                             
 Miscellaneous                                                   
 ​                                                               | ​ | ​ | ​    | ​ | B-1-25 | ​ | ​ |

B-1-2

TABLE OF CONTENTS

This REGISTRATION AND INVESTOR RIGHTS AGREEMENT (this “ Agreement ”), dated as of [•], 2025, is by and between Ranger Bermuda Topco Ltd, a Bermuda exempted company limited by shares (the “ Company ”), and Kestrel Intermediate Ledbetter Holdings LLC (including any Permitted Transferees hereunder, the “ Holder ” and, the Holder together with the Company, the “ Parties ”).

### RECITALS
WHEREAS, the Company previously entered into a Combination Agreement, dated as of December 29, 2024, with each of Kestrel Group LLC, a Delaware limited liability company (“Kestrel”), all of the equityholders of Kestrel, Maiden Holdings, Ltd., a Bermuda exempted company limited by shares, Ranger U.S. Newco LLC, a Delaware limited liability company, Ranger Bermuda Merger Sub Ltd, a Bermuda exempted company limited by shares, Ranger Bermuda Topco Ltd, a Bermuda exempted company limited by shares and Ranger Merger Sub 2 LLC, a Delaware limited liability company (such agreement, the “ Combination Agreement ”);

WHEREAS, in connection with the closing of the transactions contemplated by the Combination Agreement (the “ Closing ”), the Holder received [•] Common Shares (as defined herein); and

WHEREAS, upon the Closing, the Company entered into this Agreement with the Holder in order to provide the Holder the registration and investor rights described herein.

NOW, THEREFORE, in consideration of the foregoing recitals and the representations, warranties, covenants and agreements set forth in this Agreement, and intending to be legally bound by this Agreement, the Parties agree as follows:

1.

Definitions and Interpretation.

(a)

Definitions . As used in this Agreement, each of the following capitalized terms has the meaning specified in this Section 1(a) .

“ Action ” means any action, suit or proceeding by or before any Governmental Authority.

“ Adverse Disclosure ” means public disclosure of material non-public information that, in the Board’s good faith judgment, after consultation with outside counsel to the Company, (i) would be required to be made in any Registration Statement filed