Company: MHLA
Filing Date: 2025-03-26
Form Type: DEFM14A
Source: 0001104659-25-028254
Chunk: 250

Company: Maiden Holdings, Ltd.
Filing Date: 2025-03-26
Form: DEFM14A
Chunk 250
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 granted on June 1, 2015 and June 1, 2016. The amount shown above also includes 35,211 restricted shares that were issued on June 1, 2024 that will fully vest on June 1, 2025, which Mr. Nigro has the ability to vote, but is restricted from transferring until the vesting date.

The percentages of beneficial ownership in the table below are based on approximately 7,787,813 common shares of Bermuda NewCo issued and outstanding after giving effect to the transaction (which excludes (A) the potential contingent consideration payable to the former Kestrel equityholders and (B) 2,237,533 Bermuda NewCo common shares to be held by Maiden Re upon consummation of the transaction), being the sum of (i) 5,037,813 common shares of Bermuda NewCo issuable to former Maiden shareholders pursuant to the transaction (based on such number of Maiden shares issued and outstanding as of March 18, 2025), and (ii) 2,750,000 common shares of Bermuda NewCo issuable to the former Kestrel equityholders pursuant to the transaction.

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TABLE OF CONTENTS

| ​                                           | ​ | ​ | Bermuda NewCoShares to beBeneficially Owned |   |              |   |   |   |            |   |       |   | ​ |
| Name of Beneficial Owner                    | ​ | ​ | Number                                      |   |              |   | ​ | ​ | Percentage |   |       |   | ​ |
| Five Percent and Greater Shareholders       | ​ | ​ | ​                                           | ​ | ​            | ​ | ​ | ​ | ​          | ​ | ​     | ​ | ​ |
| Kestrel Intermediate Ledbetter Holdings LLC | ​ | ​ | ​                                           | ​ | 1,811,764(1) | ​ | ​ | ​ | ​          | ​ | 23.3% | ​ | ​ |
| AmTrust Financial Services, Inc.            | ​ | ​ | ​                                           | ​ | 776,470(2)   | ​ | ​ | ​ | ​          | ​ | 10.0% | ​ | ​ |
| Talkot Capital, LLC                         | ​ | ​ | ​                                           | ​ | 644,645(3)   | ​ | ​ | ​ | ​          | ​ | 8.3%  | ​ |