• Alternative Asset Management: Provides investment management services for various funds and accounts, specializing in credit strategies.
• Credit Investment Products: Offers a range of investment products focused on corporate and structured credit opportunities for investors.

Mount Logan Capital Inc. (symbol: MLCI) operates as an alternative asset manager and investor in credit opportunities.

The company primarily serves institutional investors by managing capital on their behalf. Due to the nature of asset management, the specific names of these major institutional clients are typically not publicly disclosed by the company.

These customers generally fall into categories of sophisticated entities, rather than individual consumers. The types of institutional investors that utilize Mount Logan Capital's asset management services include:

• Pension funds
• Endowments
• Foundations
• Family offices
• Other sophisticated institutional investment vehicles

Therefore, Mount Logan Capital's major "customers" are other financial entities and institutions.

Edward Goldthorpe Chief Executive Officer and Chairman of the Board

Edward Goldthorpe is a Partner leading the Global Credit Business at BC Partners. He previously served as President of Apollo Investment Corporation and Chief Investment Officer of Apollo Investment Management, where he oversaw the U.S. Opportunistic Platform. Before joining Apollo, Mr. Goldthorpe spent 13 years at Goldman Sachs, where he managed the bank loan distressed investing desk and contributed to their Special Situations Group. He is also a co-founder of Mount Logan Capital, established in its current form in 2018. His roles at BC Partners and Apollo Investment Management indicate a pattern of managing companies backed by private equity firms.

Nikita Klassen Chief Financial Officer and Corporate Secretary (until March 31, 2026)

Nikita Klassen has served as the Chief Financial Officer and Corporate Secretary of Mount Logan Capital Inc. since April 1, 2024. In this role, she oversees the company's financial operations and governance. Prior to joining Mount Logan Capital, Ms. Klassen held various roles in the financial services industry, including positions at Silicon Valley Bank, Galaxy Digital, and American Express. Her experience includes corporate finance, accounting, and strategic advisory. She is a Chartered Professional Accountant (CPA, CA) and previously served as the Senior Controller of Mount Logan Capital. Ms. Klassen also provided audit and consulting services for six years at PricewaterhouseCoopers LLP.

Brandon Satoren Chief Financial Officer and Corporate Secretary (effective April 1, 2026)

Brandon Satoren will assume the role of Chief Financial Officer and Corporate Secretary of Mount Logan Capital Inc. effective April 1, 2026. He currently serves as CFO across Mount Logan's retail credit platform and holds finance roles, including CFO, Secretary, and Treasurer, for BCP Investment Corporation (Nasdaq: BCIC). Mr. Satoren joined Mount Logan's credit platform in May 2021. Prior to this, he was a Vice President and Controller on the Finance and Operations team at PennantPark. He also worked for AQR Capital Management, LLC, and spent nearly nine years at PricewaterhouseCoopers LLP in their Asset Management Assurance practice. Mr. Satoren is a Certified Public Accountant licensed in Colorado.

Henry Wang President

Henry Wang joined BC Partners Credit in New York in 2017 as part of the founding team. He was previously a Partner at Stonerise Capital Partners for over five years. Mr. Wang worked for more than seven years at Goldman Sachs, contributing to both the Special Situations Group and the Investment Banking Division, and gained experience at Vulcan Capital and Thomas Weisel Partners. He is also recognized as a co-founder of Mount Logan Capital in 2018.

David Held Chief Compliance Officer (CCO)

David Held serves as the Chief Compliance Officer (CCO) of Mount Logan Capital Inc., a position he has held since 2021, and also as the Chief Compliance Officer, Credit for BC Partners. Prior to this, Mr. Held was the Chief Compliance Officer with Lyxor Asset Management. He has also held senior compliance positions at American Securities, AXA Investment Managers, and Bank of America. Mr. Held holds a J.D. from Georgetown University Law Center.

1. Challenges in Integrating Strategic Business Combinations and Realizing Synergies: Mount Logan Capital has recently undergone strategic business combinations, and there is a risk that these businesses may not be successfully integrated, or that the anticipated synergies may not be fully realized or may take longer to achieve than expected.
2. Potential Impairment of Significant Goodwill Balance: A key financial risk for MLCI is the potential impairment of its significant goodwill balance.
3. Variable Earnings Profile, Regulatory Exposure, and Financial Structure Risks: The company has a variable earnings profile and is exposed to regulatory risks through its insurance operations. Additionally, its financial structure includes higher leverage, and there is a risk of structural and effective subordination of its debt.

Mount Logan Capital (symbol: MLCI) operates in two main areas: asset management, with a focus on private credit and public and private debt securities, particularly in North America, and insurance solutions, primarily through the reinsurance of annuity products and long-term care policies.

The addressable markets for these products and services are significant:

Asset Management (Alternative Investment Funds and Private Credit)

• The global alternative investment funds market was valued at over USD 13.81 trillion in 2024 and is projected to reach USD 23.69 trillion by 2032. Other estimates place the global alternatives industry to reach $29.2 trillion in assets under management (AUM) by 2029 and over $30 trillion by 2030, including private equity, private credit, infrastructure, real estate, hedge funds, and natural resources.
• The global private credit market was approximately US$1.6 trillion in 2025 and is estimated at over $3 trillion as of 2024. It is expected to rise from $1.5 trillion at the end of 2023 to $2.6 trillion by 2029 and is projected to double to more than $3 trillion in assets under management by 2028.
• For the U.S. private credit market, the addressable market could be more than $30 trillion. The U.S. private credit market alone was projected at US$1.34 trillion in 2025 and expanded from $500 billion to $1.3 trillion over the last five years, poised for continued growth in 2026. Mount Logan Capital's asset management segment focuses on the North American market.

Insurance Solutions (Long-Term Care Insurance and Annuities)

• The global long-term care insurance market was valued at USD 32.35 billion in 2024 and is expected to reach USD 45.89 billion by 2032. North America held the largest share of this market in 2024. Another estimate values the global long-term care insurance market at USD 24.17 billion in 2023, projected to reach USD 89.69 billion by 2033.
• The global annuity insurance market was valued at $1046.35 billion in 2025 and is expected to grow to $1105.91 billion in 2026, with projections to reach $1374.18 billion in 2030. North America was identified as the largest region in the annuity insurance market in 2025. In the U.S., annuity sales rose to $461.3 billion in 2025.

Mount Logan Capital (MLCI) anticipates several key drivers to contribute to its future revenue growth over the next two to three years:

1. Expansion of Asset Management Capabilities: The company is focused on growing its asset management segment, which has demonstrated strong increases in Fee Related Earnings (FRE). Mount Logan Capital aims to evolve into a fully diversified, one-stop credit solutions provider, broadening its offerings and client base in the credit market.
2. Growth within the Insurance Segment: Mount Logan Capital is strategically leveraging its insurance operations, particularly through the reinsurance of annuity products. Future revenue growth is expected from improving the investment portfolio yield and further scaling the annuity business.
3. Launch and Expansion of New Investment Products: The company has launched a new credit interval fund and plans to expand its opportunistic credit interval fund, which management views as a high-growth vehicle. This initiative is designed to attract additional capital and generate increased fees.
4. Strategic Mergers and Acquisitions (M&A): Mount Logan Capital is actively building a pipeline for mergers and acquisitions to strengthen its market position and operational capabilities. Past mergers have aimed to create more streamlined and efficient investment platforms, which can lead to increased assets under management and expanded service offerings.
5. Enhanced Market Visibility via NASDAQ Listing: The planned NASDAQ listing is a strategic step intended to improve market access and investor relations. This increased visibility and conversion to US GAAP reporting are expected to broaden the investor base and potentially facilitate greater capital inflows into the company's funds.

Share Repurchases

• Mount Logan Capital authorized a new share repurchase program of up to $10 million, effective through December 31, 2027.
• This program followed the completion in February 2026 of a $15 million tender offer, which reduced the company's outstanding common stock by approximately 12%.

Share Issuance

• In January 2026, Mount Logan Capital issued $40.0 million of 8.00% senior unsecured notes due 2031.