Company: TIPT
Filing Date: 2025-10-17
Form Type: PREM14A
Source: 0001140361-25-038514
Chunk: 103

Company: TIPTREE INC.
Filing Date: 2025-10-17
Form: PREM14A
Chunk 103
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The Merger Agreement,” beginning on page 70 , for a discussion of the material terms of the Merger Agreement.

On September 22, 2025, BofA Securities provided to Ropes & Gray an updated relationship disclosure addressed to the Fortegra Board regarding BofA Securities’ past or existing relationships, if any, with Fortegra, Tiptree, Warburg Pincus and Purchaser.

On September 23, 2025, materials were provided electronically to the Tiptree Board and the Fortegra Board in anticipation of the special meetings of the Tiptree Board and the Fortegra Board called in connection with the potential transaction. Included in the materials were relationship disclosures provided by Barclays and BofA Securities on September 22, 2025, regarding Barclays’ and BofA Securities’ respective past or existing relationships with Fortegra, Tiptree, Warburg Pincus and Purchaser, which the Tiptree Board determined were not material to the Tiptree Board’s evaluation of strategic alternatives.

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TABLE OF CONTENTS

On September 24, 2025, the Fortegra Board held a meeting attended by the members of the Tiptree Board, members of Fortegra management and Tiptree management and representatives of Ropes & Gray, Sidley and Barclays. At the meeting, representatives of Ropes & Gray provided an overview of the Fortegra Board’s fiduciary duties under Delaware law and reviewed the material proposed terms of the Merger and the other transactions contemplated by the Merger Agreement, the Tiptree Voting Agreements and the restrictive covenant agreements. A representative of Sidley provided an overview of required insurance regulatory filings. Following discussion, representatives of Barclays then reviewed Barclays’ financial analysis of the consideration to be paid in connection with the Merger and the other transactions contemplated by the Merger Agreement. Following discussion, Barclays rendered to the Fortegra Board its oral opinion, confirmed by delivery of its written opinion dated September 26, 2025, to the Fortegra Board to the effect that, as of such date, and based upon and subject to the qualifications, limitations, assumptions and other matters stated in Barclays’ opinion, the aggregate consideration of $1,650,000,000 in cash in the Merger is fair, from a financial point of view, to the holders of Fortegra common stock. Following further discussion, the Fortegra Board unanimously approved the Merger and the other transactions contemplated by the Merger Agreement. Immediately following