Mr. Ted Goldthorpe reports

MOUNT LOGAN CAPITAL INC. COMPLETES TRANSACTION WITH OVATION PARTNERS, LP

Mount Logan Capital Inc. has completed its previously announced transaction with Ovation Partners LP for the management of Ovation's alternative income platform, which is focused on investments in commercial lending, real estate lending, consumer finance and litigation finance.

Highlights:

• Mount Logan Management LLC, a wholly owned subsidiary of Mount Logan, acts as the adviser of the alternative income platform, which is focused on investments in commercial lending, real estate lending, consumer finance and litigation finance.
• As previously announced, certain Ovation employees have already transitioned to employment under ML Management, and, concurrent with closing, certain additional Ovation employees have become employees of ML Management, which concludes the transition of the Ovation employees to ML Management.
• On closing, Mount Logan issued to Ovation an aggregate of 3,186,398 common shares of Mount Logan at a deemed price of $2.83.

Management commentary:

• Ted Goldthorpe, chief executive officer and chairman of Mount Logan, said: "We are excited to announce the completion of this milestone transaction for the Mount Logan platform. Through this transaction, Mount Logan adds another specialized credit investment strategy into our already diverse group of funds and expands our team and ability to grow. The transaction benefits Ovation's existing investors, is highly strategic for Mount Logan and increases revenues generated from our management fee streams, consistent with our stated growth objectives."
• Mike Rovner, managing partner of Ovation, added: "We are excited to officially join the Mount Logan platform. We believe this transaction enables the alternative income platform to expand and enhance underlying portfolio performance with the benefit of and access to Mount Logan's resources and scale."

About Mount Logan Capital Inc.

Mount Logan is an alternative asset management and insurance solution company that is focused on public and private debt securities in the North American market and the reinsurance of annuity products primarily through its wholly owned subsidiaries ML Management and Ability Insurance Company. The company also actively sources, evaluates, underwrites, manages, monitors and primarily invests in loans, debt securities, and other credit-oriented instruments that present attractive risk-adjusted returns and present low risk of principal impairment through the credit cycle.

Ability Insurance is a Nebraska-domiciled insurer and reinsurer of long-term-care policies acquired by Mount Logan in the fourth quarter of fiscal year 2021. Ability is unique in the insurance industry in that its long-term-care portfolio's morbidity risk has been largely reinsured to third parties, and Ability is no longer insuring or reinsuring new long-term-care risk.

We seek Safe Harbor.