Company: MHLA
Filing Date: 2025-03-26
Form Type: DEFM14A
Source: 0001104659-25-028254
Chunk: 87

Company: Maiden Holdings, Ltd.
Filing Date: 2025-03-26
Form: DEFM14A
Chunk 87
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 indicative of the future consolidated results of operations or financial position of the combined company.

The pro forma adjustments are preliminary and have been made solely for informational purposes. The actual results reported by the combined company in periods following the transaction may differ significantly from those reflected in this unaudited pro forma combined financial information for a number of reasons, including but not limited to changes in market conditions, cost savings from operating efficiencies, synergies and the impact of costs incurred in integrating the two companies. As a result, the unaudited pro forma combined financial information is not intended to represent and is not necessarily indicative of what the combined company’s financial condition and results of operations would have been had the transaction been completed on the applicable dates of this unaudited pro forma combined financial information. In addition, the unaudited pro forma combined financial information does not purport to project the future financial condition and results of operations of the combined company.

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TABLE OF CONTENTS

UNAUDITED PRO FORMA CONDENSED CONSOLIDATED COMBINED
BALANCE SHEET AS OF DECEMBER 31, 2024
(in thousands)

| ​                                                       
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 Assets                                                  | ​ 
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 ​ | Historical 
 Kestrel    
 5(A)       
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 ​ | Maiden 
 5(B)   
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 ​ | TransactionAccountingAdjustments 
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        ​ | ​ 
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 ​ | Pro FormaBalanceSheet 
 ​                     
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 ​ |         ​ 
         ​ | ​ 
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|:--------------------------------------------------------|:--|:--|:-----------|:--|-------:|:--|:--|:--|:-------|:--|----------:|:--|:--|:--|:---------------------------------|:--|---------:|:--|:--|:--|:--|:--|:-----|:--|: