Company: MHLA
Filing Date: 2025-03-26
Form Type: DEFM14A
Source: 0001104659-25-028254
Chunk: 496

Company: Maiden Holdings, Ltd.
Filing Date: 2025-03-26
Form: DEFM14A
Chunk 496
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 set forth as fully and with the same effect as if the waivers, acknowledgments and agreements made hereby were originally set forth in the Combination Agreement. This Letter Agreement and the Combination Agreement shall each henceforth be read, taken and construed as one and the same instrument, but such waivers, acknowledgments and agreements shall not operate so as to render invalid or improper any action heretofore taken under the Combination Agreement. If and to the extent there are any inconsistencies between the Combination Agreement and this Letter Agreement with respect to the matters set forth herein, the terms of this Letter Agreement shall control. References in the Combination Agreement to the Combination Agreement shall be deemed to mean the Combination Agreement as modified and supplemented by this Letter Agreement. On and after the date of this Letter Agreement, each reference to the Combination Agreement, “this Agreement”, “hereof”, “hereunder”, “herein” or words of like import referring to the Combination Agreement shall mean and be a reference to the Combination Agreement as modified hereby; provided that references in the Combination Agreement to “the date hereof” or “the date of this Agreement” or words of like import shall continue to refer to the date of December 29, 2024.

7. Counterparts . This Letter Agreement may be executed in one or more counterparts (including by electronic mail), each of which shall be deemed to be an original but all of which taken together shall constitute one and the same agreement, and shall become effective when one or more counterparts have been signed by each of the parties and delivered to the other parties.

8. Sections of the Combination Agreement . Section 10.04 ( Assignment ), Section 10.06 ( Entire Agreement; No Third-Party Beneficiaries ), Section 10.07 ( Governing Law; Jurisdiction ), Section 10.09 ( Waiver of Jury Trial ), and Section 10.11 ( Severability ) of the Combination Agreement are each hereby incorporated by reference mutatis mutandis .

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TABLE OF CONTENTS

Respectfully,

### KESTREL GROUP LLC
By:

/s/ Bradford Luke Ledbetter

Name:

Bradford Luke Ledbetter

Title:

President and Chief Executive Officer

### KESTREL INTERMEDIATE LEDBETTER HOLDINGS LLC
By

/s/ Bradford Luke Ledbetter

Name:

Bradford Luke Ledbetter

Title:

Authorized Signatory

<div align='center'>[ Signature Page to Letter Agreement ]</div>