MHLA · Maiden Holdings, Ltd.

The total reported includes all Maiden common shares held by the Reporting Person.

On May 27, 2025, 2025, Kestrel Group LLC, the equityholders of Kestrel Group LLC, Maiden Holdings, Ltd. ('Maiden'), Ranger U.S. Newco LLC, Ranger Bermuda Merger Sub Ltd, Ranger Bermuda Topco Ltd ('Bermuda NewCo') and Ranger Merger Sub 2 LLC consummated a transaction under a combination agreement, pursuant to which each common share of Maiden was automatically canceled and converted into the right to receive one-twentieth (0.05) of a Bermuda NewCo common share. In addition, each restricted share of Maiden that was outstanding immediately prior to the closing, whether or not then vested, was converted automatically into one-twentieth (0.05) of a Bermuda NewCo restricted share.

The total reported includes all Maiden common shares held by the Reporting Person.

On May 27, 2025, Kestrel Group LLC, the equityholders of Kestrel Group LLC, Maiden Holdings, Ltd. ('Maiden'), Ranger U.S. Newco LLC, Ranger Bermuda Merger Sub Ltd, Ranger Bermuda Topco Ltd ('Bermuda NewCo') and Ranger Merger Sub 2 LLC consummated a transaction under a combination agreement, pursuant to which each common share of Maiden was automatically canceled and converted into the right to receive one-twentieth (0.05) of a Bermuda NewCo common share. In addition, each restricted share of Maiden that was outstanding immediately prior to the closing, whether or not then vested, was converted automatically into one-twentieth (0.05) of a Bermuda NewCo restricted share.

Pursuant to the Combination Agreement, each option to purchase Maiden common shares (each a 'Maiden option') that is outstanding immediately prior to the closing of the Transaction, whether or not then vested or exercisable, will cease to represent a right to acquire Maiden shares and will be converted automatically into an option to purchase a number of Bermuda NewCo common shares equal to one-twentieth (0.05) of the Maiden common shares subject to the Maiden option (rounded down to the nearest whole share), with an exercise price determined by dividing the exercise price of such Maiden option by 0.05 (rounded up to the nearest whole cent).

The total reported includes all Maiden common shares held by the Reporting Person.

On May 27, 2025, Kestrel Group LLC, the equityholders of Kestrel Group LLC, Maiden Holdings, Ltd. ('Maiden'), Ranger U.S. Newco LLC, Ranger Bermuda Merger Sub Ltd, Ranger Bermuda Topco Ltd ('Bermuda NewCo') and Ranger Merger Sub 2 LLC consummated a transaction under a combination agreement, pursuant to which each common share of Maiden was automatically canceled and converted into the right to receive one-twentieth (0.05) of a Bermuda NewCo common share. In addition, each restricted share of Maiden that was outstanding immediately prior to the closing, whether or not then vested, was converted automatically into one-twentieth (0.05) of a Bermuda NewCo restricted share.

The total reported includes all Maiden restricted shares held by the Reporting Person.

On May 27, 2025, Kestrel Group LLC, the equityholders of Kestrel Group LLC, Maiden Holdings, Ltd. ('Maiden'), Ranger U.S. Newco LLC, Ranger Bermuda Merger Sub Ltd, Ranger Bermuda Topco Ltd ('Bermuda NewCo') and Ranger Merger Sub 2 LLC consummated a transaction under a combination agreement, pursuant to which each common share of Maiden was automatically canceled and converted into the right to receive one-twentieth (0.05) of a Bermuda NewCo common share. In addition, each restricted share of Maiden that was outstanding immediately prior to the closing, whether or not then vested, was converted automatically into one-twentieth (0.05) of a Bermuda NewCo restricted share.

The total reported includes all Maiden common shares held by the Reporting Person.

On May 27, 2025, Kestrel Group LLC, the equityholders of Kestrel Group LLC, Maiden Holdings, Ltd. ('Maiden'), Ranger U.S. Newco LLC, Ranger Bermuda Merger Sub Ltd, Ranger Bermuda Topco Ltd ('Bermuda NewCo') and Ranger Merger Sub 2 LLC consummated a transaction under a combination agreement, pursuant to which each common share of Maiden was automatically canceled and converted into the right to receive one-twentieth (0.05) of a Bermuda NewCo common share. In addition, each restricted share of Maiden that was outstanding immediately prior to the closing, whether or not then vested, was converted automatically into one-twentieth (0.05) of a Bermuda NewCo restricted share.

The total reported includes all Maiden restricted shares held by the Reporting Person.

On May 27, 2025, 2025, Kestrel Group LLC, the equityholders of Kestrel Group LLC, Maiden Holdings, Ltd. ('Maiden'), Ranger U.S. Newco LLC, Ranger Bermuda Merger Sub Ltd, Ranger Bermuda Topco Ltd ('Bermuda NewCo') and Ranger Merger Sub 2 LLC consummated a transaction under a combination agreement, pursuant to which each common share of Maiden was automatically canceled and converted into the right to receive one-twentieth (0.05) of a Bermuda NewCo common share. In addition, each restricted share of Maiden that was outstanding immediately prior to the closing, whether or not then vested, was converted automatically into one-twentieth (0.05) of a Bermuda NewCo restricted share.

The total reported includes all Maiden restricted shares held by the Reporting Person.

On May 27, 2025, Kestrel Group LLC, the equityholders of Kestrel Group LLC, Maiden Holdings, Ltd. ('Maiden'), Ranger U.S. Newco LLC, Ranger Bermuda Merger Sub Ltd, Ranger Bermuda Topco Ltd ('Bermuda NewCo') and Ranger Merger Sub 2 LLC consummated a transaction under a combination agreement, pursuant to which each common share of Maiden was automatically canceled and converted into the right to receive one-twentieth (0.05) of a Bermuda NewCo common share. In addition, each restricted share of Maiden that was outstanding immediately prior to the closing, whether or not then vested, was converted automatically into one-twentieth (0.05) of a Bermuda NewCo restricted share.

The total reported includes all Maiden restricted shares held by the Reporting Person.

On May 27, 2025, Kestrel Group LLC, the equityholders of Kestrel Group LLC, Maiden Holdings, Ltd. ('Maiden'), Ranger U.S. Newco LLC, Ranger Bermuda Merger Sub Ltd, Ranger Bermuda Topco Ltd ('Bermuda NewCo') and Ranger Merger Sub 2 LLC consummated a transaction under a combination agreement, pursuant to which each common share of Maiden was automatically canceled and converted into the right to receive one-twentieth (0.05) of a Bermuda NewCo common share. In addition, each restricted share of Maiden that was outstanding immediately prior to the closing, whether or not then vested, was converted automatically into one-twentieth (0.05) of a Bermuda NewCo restricted share.

The total reported includes all Maiden restricted shares held by the Reporting Person.

On May 27, 2025, Kestrel Group LLC, the equityholders of Kestrel Group LLC, Maiden Holdings, Ltd. ('Maiden'), Ranger U.S. Newco LLC, Ranger Bermuda Merger Sub Ltd, Ranger Bermuda Topco Ltd ('Bermuda NewCo') and Ranger Merger Sub 2 LLC consummated a transaction under a combination agreement, pursuant to which each common share of Maiden was automatically canceled and converted into the right to receive one-twentieth (0.05) of a Bermuda NewCo common share. In addition, each restricted share of Maiden that was outstanding immediately prior to the closing, whether or not then vested, was converted automatically into one-twentieth (0.05) of a Bermuda NewCo restricted share.

The total reported includes all Maiden restricted shares held by the Reporting Person.

On May 27, 2025, Kestrel Group LLC, the equityholders of Kestrel Group LLC, Maiden Holdings, Ltd. ('Maiden'), Ranger U.S. Newco LLC, Ranger Bermuda Merger Sub Ltd, Ranger Bermuda Topco Ltd ('Bermuda NewCo') and Ranger Merger Sub 2 LLC consummated a transaction under a combination agreement, pursuant to which each common share of Maiden was automatically canceled and converted into the right to receive one-twentieth (0.05) of a Bermuda NewCo common share. In addition, each restricted share of Maiden that was outstanding immediately prior to the closing, whether or not then vested, was converted automatically into one-twentieth (0.05) of a Bermuda NewCo restricted share.

The total reported includes all Maiden common shares held by the Reporting Person.

On May 27, 2025, Kestrel Group LLC, the equityholders of Kestrel Group LLC, Maiden Holdings, Ltd. ('Maiden'), Ranger U.S. Newco LLC, Ranger Bermuda Merger Sub Ltd, Ranger Bermuda Topco Ltd ('Bermuda NewCo') and Ranger Merger Sub 2 LLC consummated a transaction under a combination agreement, pursuant to which each common share of Maiden was automatically canceled and converted into the right to receive one-twentieth (0.05) of a Bermuda NewCo common share. In addition, each restricted share of Maiden that was outstanding immediately prior to the closing, whether or not then vested, was converted automatically into one-twentieth (0.05) of a Bermuda NewCo restricted share.

Pursuant to the Combination Agreement, each option to purchase Maiden common shares (each a 'Maiden option') that is outstanding immediately prior to the closing of the Transaction, whether or not then vested or exercisable, will cease to represent a right to acquire Maiden shares and will be converted automatically into an option to purchase a number of Bermuda NewCo common shares equal to one-twentieth (0.05) of the Maiden common shares subject to the Maiden option (rounded down to the nearest whole share), with an exercise price determined by dividing the exercise price of such Maiden option by 0.05 (rounded up to the nearest whole cent).

The total reported includes all Maiden restricted shares held by the Reporting Person.

On May 27, 2025, Kestrel Group LLC, the equityholders of Kestrel Group LLC, Maiden Holdings, Ltd. ('Maiden'), Ranger U.S. Newco LLC, Ranger Bermuda Merger Sub Ltd, Ranger Bermuda Topco Ltd ('Bermuda NewCo') and Ranger Merger Sub 2 LLC consummated a transaction under a combination agreement, pursuant to which each common share of Maiden was automatically canceled and converted into the right to receive one-twentieth (0.05) of a Bermuda NewCo common share. In addition, each restricted share of Maiden that was outstanding immediately prior to the closing, whether or not then vested, was converted automatically into one-twentieth (0.05) of a Bermuda NewCo restricted share.

The total reported includes all Maiden common shares held by the Reporting Person.

On May 27, 2025, Kestrel Group LLC, the equityholders of Kestrel Group LLC, Maiden Holdings, Ltd. ('Maiden'), Ranger U.S. Newco LLC, Ranger Bermuda Merger Sub Ltd, Ranger Bermuda Topco Ltd ('Bermuda NewCo') and Ranger Merger Sub 2 LLC consummated a transaction under a combination agreement, pursuant to which each common share of Maiden was automatically canceled and converted into the right to receive one-twentieth (0.05) of a Bermuda NewCo common share. In addition, each restricted share of Maiden that was outstanding immediately prior to the closing, whether or not then vested, was converted automatically into one-twentieth (0.05) of a Bermuda NewCo restricted share.

The total reported includes all Maiden restricted shares held by the Reporting Person.

On May 27, 2025, Kestrel Group LLC, the equityholders of Kestrel Group LLC, Maiden Holdings, Ltd. ('Maiden'), Ranger U.S. Newco LLC, Ranger Bermuda Merger Sub Ltd, Ranger Bermuda Topco Ltd ('Bermuda NewCo') and Ranger Merger Sub 2 LLC consummated a transaction under a combination agreement, pursuant to which each common share of Maiden was automatically canceled and converted into the right to receive one-twentieth (0.05) of a Bermuda NewCo common share. In addition, each restricted share of Maiden that was outstanding immediately prior to the closing, whether or not then vested, was converted automatically into one-twentieth (0.05) of a Bermuda NewCo restricted share.

The total reported includes all Maiden common shares held by the Reporting Person.

On May 27, 2025, Kestrel Group LLC, the equityholders of Kestrel Group LLC, Maiden Holdings, Ltd. ('Maiden'), Ranger U.S. Newco LLC, Ranger Bermuda Merger Sub Ltd, Ranger Bermuda Topco Ltd ('Bermuda NewCo') and Ranger Merger Sub 2 LLC consummated a transaction under a combination agreement, pursuant to which each common share of Maiden was automatically canceled and converted into the right to receive one-twentieth (0.05) of a Bermuda NewCo common share. In addition, each restricted share of Maiden that was outstanding immediately prior to the closing, whether or not then vested, was converted automatically into one-twentieth (0.05) of a Bermuda NewCo restricted share.

The total reported includes all Maiden restricted shares held by the Reporting Person.

On May 27, 2025, Kestrel Group LLC, the equityholders of Kestrel Group LLC, Maiden Holdings, Ltd. ('Maiden'), Ranger U.S. Newco LLC, Ranger Bermuda Merger Sub Ltd, Ranger Bermuda Topco Ltd ('Bermuda NewCo') and Ranger Merger Sub 2 LLC consummated a transaction under a combination agreement, pursuant to which each common share of Maiden was automatically canceled and converted into the right to receive one-twentieth (0.05) of a Bermuda NewCo common share. In addition, each restricted share of Maiden that was outstanding immediately prior to the closing, whether or not then vested, was converted automatically into one-twentieth (0.05) of a Bermuda NewCo restricted share.

Pursuant to the Combination Agreement, each option to purchase Maiden common shares (each a 'Maiden option') that was outstanding immediately prior to the closing of the Transaction, whether or not then vested or exercisable, ceased to represent a right to acquire Maiden shares and was converted automatically into an option to purchase a number of Bermuda NewCo common shares equal to one-twentieth (0.05) of the Maiden common shares subject to the Maiden option (rounded down to the nearest whole share), with an exercise price determined by dividing the exercise price of such Maiden option by 0.05 (rounded up to the nearest whole cent).

Pursuant to the Combination Agreement, each option to purchase Maiden common shares (each a 'Maiden option') that is outstanding immediately prior to the closing of the Transaction, whether or not then vested or exercisable, will cease to represent a right to acquire Maiden shares and will be converted automatically into an option to purchase a number of Bermuda NewCo common shares equal to one-twentieth (0.05) of the Maiden common shares subject to the Maiden option (rounded down to the nearest whole share), with an exercise price determined by dividing the exercise price of such Maiden option by 0.05 (rounded up to the nearest whole cent).

Pursuant to the Combination Agreement, each option to purchase Maiden common shares (each a 'Maiden option') that is outstanding immediately prior to the closing of the Transaction, whether or not then vested or exercisable, will cease to represent a right to acquire Maiden shares and will be converted automatically into an option to purchase a number of Bermuda NewCo common shares equal to one-twentieth (0.05) of the Maiden common shares subject to the Maiden option (rounded down to the nearest whole share), with an exercise price determined by dividing the exercise price of such Maiden option by 0.05 (rounded up to the nearest whole cent).

Pursuant to the Combination Agreement, each option to purchase Maiden common shares (each a 'Maiden option') that was outstanding immediately prior to the closing of the Transaction, whether or not then vested or exercisable, ceased to represent a right to acquire Maiden shares and was converted automatically into an option to purchase a number of Bermuda NewCo common shares equal to one-twentieth (0.05) of the Maiden common shares subject to the Maiden option (rounded down to the nearest whole share), with an exercise price determined by dividing the exercise price of such Maiden option by 0.05 (rounded up to the nearest whole cent).

The total reported includes all Maiden common shares held by the Reporting Person.

On May 27, 2025, Kestrel Group LLC, the equityholders of Kestrel Group LLC, Maiden Holdings, Ltd. ('Maiden'), Ranger U.S. Newco LLC, Ranger Bermuda Merger Sub Ltd, Ranger Bermuda Topco Ltd ('Bermuda NewCo') and Ranger Merger Sub 2 LLC consummated a transaction under a combination agreement, pursuant to which each common share of Maiden was automatically canceled and converted into the right to receive one-twentieth (0.05) of a Bermuda NewCo common share. In addition, each restricted share of Maiden that was outstanding immediately prior to the closing, whether or not then vested, was converted automatically into one-twentieth (0.05) of a Bermuda NewCo restricted share.

The total reported includes all Maiden common shares held by the Reporting Person.

On May 27, 2025, Kestrel Group LLC, the equityholders of Kestrel Group LLC, Maiden Holdings, Ltd. ('Maiden'), Ranger U.S. Newco LLC, Ranger Bermuda Merger Sub Ltd, Ranger Bermuda Topco Ltd ('Bermuda NewCo') and Ranger Merger Sub 2 LLC consummated a transaction under a combination agreement, pursuant to which each common share of Maiden was automatically canceled and converted into the right to receive one-twentieth (0.05) of a Bermuda NewCo common share. In addition, each restricted share of Maiden that was outstanding immediately prior to the closing, whether or not then vested, was converted automatically into one-twentieth (0.05) of a Bermuda NewCo restricted share.

The total reported includes all Maiden common shares held by the Reporting Person.

On May 27, 2025, Kestrel Group LLC, the equityholders of Kestrel Group LLC, Maiden Holdings, Ltd. ('Maiden'), Ranger U.S. Newco LLC, Ranger Bermuda Merger Sub Ltd, Ranger Bermuda Topco Ltd ('Bermuda NewCo') and Ranger Merger Sub 2 LLC consummated a transaction under a combination agreement, pursuant to which each common share of Maiden was automatically canceled and converted into the right to receive one-twentieth (0.05) of a Bermuda NewCo common share. In addition, each restricted share of Maiden that was outstanding immediately prior to the closing, whether or not then vested, was converted automatically into one-twentieth (0.05) of a Bermuda NewCo restricted share.

The restricted shares were issued on March 17, 2023 pursuant to the 2019 Omnibus Incentive Plan, and vested in full on March 31, 2025.

These common shares were issued on March 17, 2023 pursuant to the 2019 Omnibus Incentive Plan and vested in full on March 31, 2025.

Disposition of common shares resulting from withholding of securities for the payment of tax liability relating to the grant described in footnote 1.

Disposition of common shares resulting from withholding of securities for the payment of tax liability relating to the grant described in footnote 3.

These common shares were granted on March 17, 2023 pursuant to the 2019 Omnibus Incentive Plan with vesting on March 17, 2025.

Disposition of common shares resulting from withholding of securities for the payment of tax liability relating to the grant described in footnote 3.

These common shares were granted on March 17, 2023 pursuant to the 2019 Omnibus Incentive Plan with vesting on March 17, 2025.

Disposition of common shares resulting from withholding of securities for the payment of tax liability relating to the grant described in footnote 1.

These common shares were granted on March 14, 2024 pursuant to the 2019 Omnibus Incentive Plan with vesting on March 14, 2025.

Disposition of common shares resulting from withholding of securities for the payment of tax liability relating to the grant described in footnote 1.

These common shares were granted on March 14, 2024 pursuant to the 2019 Omnibus Incentive Plan with vesting on March 14, 2025.

These common shares were held for the benefit of Mr. Jarman's spouse.

The restricted shares were issued on June 1, 2024 pursuant to the 2019 Omnibus Incentive Plan and will vest in full on June 1, 2025.

The restricted shares were issued on June 1, 2024 pursuant to the 2019 Omnibus Incentive Plan and will vest in full on June 1, 2025.

The restricted shares were issued on June 1, 2024 pursuant to the 2019 Omnibus Incentive Plan and will vest in full on June 1, 2025.

The restricted shares were issued on June 1, 2024 pursuant to the 2019 Omnibus Incentive Plan and will vest in full on June 1, 2025.

The restricted shares were issued on June 1, 2024 pursuant to the 2019 Omnibus Incentive Plan and will vest in full on June 1, 2025.

Disposition of common shares resulting from withholding of securities for the payment of tax liability relating to the grant described in footnote 1.

The restricted shares were issued on March 15, 2022 pursuant to the 2019 Omnibus Incentive Plan, and vested in full on March 31, 2022.

This total corrects a scrivener's error from the Reporting Person's Form 4 filed on March 31, 2023.

The restricted shares were issued on March 22, 2024 pursuant to the 2019 Omnibus Incentive Plan, and will vest in full on March 31, 2026.

The reported price in Column 4 is a weighted average sale price. The shares were sold in multiple transactions at prices ranging from $1.79 to $1.81 per share. The Reporting Person undertakes to provide to the Issuer, any security holder of the Issuer, or the staff of the Securities and Exchange Commission, upon request, full information regarding the number of shares purchased at each separate price within the range set forth in this footnote.

These common shares were granted on March 17, 2023 pursuant to the 2019 Omnibus Incentive Plan with vesting on March 17, 2024.

Disposition of common shares resulting from withholding of securities for the payment of tax liability relating to the grant described in footnote 2.

Disposition of common shares resulting from withholding of securities for the payment of tax liability relating to the grant described in footnote 2.