Company: MHLA
Filing Date: 2025-03-26
Form Type: DEFM14A
Source: 0001104659-25-028254
Chunk: 95

Company: Maiden Holdings, Ltd.
Filing Date: 2025-03-26
Form: DEFM14A
Chunk 95
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. The final purchase price and purchase price allocation may be different than the information that is presented herein, and such differences could be material. Preliminary Estimated Purchase Price The following table summarizes the preliminary estimate of the purchase price (in thousands, except shares and per share price):

| ​ | Bermuda NewCo shares issued at Closing                                            | ​ | ​ | ​ | ​ |  7,189,496 | ​ | ​ |
|:--|:----------------------------------------------------------------------------------|:--|:--|:--|:--|-----------:|:--|:--|
| ​ | Bermuda NewCo share price(1)                                                      | ​ | ​ | ​ | $ |      15.00 | ​ | ​ |
| ​ | Gross equity portion of consideration transferred at Closing                      | ​ | ​ | ​ | $ |    107,843 | ​ | ​ |
| ​ | Bermuda NewCo shares retained as treasury shares by Maiden Reinsurance at Closing | ​ | ​ | ​ | ​ | -2,237,533 | ​ | ​ |
| ​ | Bermuda NewCo share price(1)                                                      | ​ | ​ | ​ | $ |      15.00 | ​ | ​ |
| ​ | Equity portion of consideration transferred to Maiden Reinsurance                 | ​ | ​ | ​ | $ |    -33,563 | ​ | ​ |
| ​ | Net equity portion of consideration transferred at Closing                        | ​ | ​ | ​ | $ |     74,280 | ​ | ​ |
| ​ | Portion of the Maiden awards attributable to pre-combination service              | ​ | ​ | ​ | $ |        773 | ​ | ​ |
| ​ | Total estimated consideration transferred                                         | ​ | ​ | ​ | $ |     75,053 | ​ | ​ |

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TABLE OF CONTENTS

(1) The final purchase price will be based on the fair value of the issued and outstanding common shares at the closing. For purposes of preparing these unaudited pro forma condensed consolidated combined financial statements, the estimated fair value is based on the closing share price of the common shares on the transaction closing date of March 6, 2025. Preliminary Estimated Purchase Price Allocation The following table summarizes allocation of the preliminary estimate of the purchase price to the assets acquired and liabilities assumed (in thousands):

| ​ | Fixed maturities, available-for-sale, at fair value | ​ | ​ | ​ | $ |  232,613 | ​ | ​ |
| ​