Company: MHLA
Filing Date: 2025-03-26
Form Type: DEFM14A
Source: 0001104659-25-028254
Chunk: 227

Company: Maiden Holdings, Ltd.
Filing Date: 2025-03-26
Form: DEFM14A
Chunk 227
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--|:--|:----------------|:--|--------:|:--|:--|
| 2025                                | ​ | ​ | ​               | $ |  82,942 | ​ | ​ |
| 2026                                | ​ | ​ | ​               | ​ |  85,878 | ​ | ​ |
| 2027                                | ​ | ​ | ​               | ​ |  88,814 | ​ | ​ |
| ​                                   | ​ | ​ | ​               | $ | 257,634 | ​ | ​ |
| Less Interest                       | ​ | ​ | ​               | ​ | -13,516 | ​ | ​ |
| Total future minimum lease payments | ​ | ​ | ​               | $ | 244,118 | ​ | ​ |

Off-Balance Sheet Arrangements As of December 31, 2024, Kestrel did not have any off-balance sheet relationships. Kestrel is, therefore, not exposed to any financing, liquidity, market or credit risk that could arise if Kestrel had engaged in such relationships.

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TABLE OF CONTENTS

#### Summary of Significant Accounting Policies

#### Use of Estimates
The preparation of financial statements in conformity with accounting principles generally accepted in the U.S. requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of revenues and expenses during the reporting period. Estimates include, but are not limited to, the valuation of deferred tax assets, the determination of lease liabilities, and the fair value of equity shares. Actual results could differ from those estimates and those differences could be material.

#### Segment Reporting
Operating segments are identified as components of an enterprise about which separate discrete financial information is available for evaluation by the chief operating decision maker, or decision-making group, in making decisions on how to allocate resources and assess performance. Kestrel’s chief operating decision maker is its chief executive officer. Kestrel and its chief executive officer view Kestrel’s operations and manage its business as one reportable segment. Kestrel offers a cohesive suite of products and services that are integrated and interdependent. Kestrel’s revenue is highly concentrated because of the capacity distribution agreements with an individual customer. As a single reportable segment, Kestrel’s financial statements reflect the consolidated results of our operations. Kestrel does not allocate revenues, expenses, or assets to multiple segments, as Kest