Mr. Jason Roos reports

MOUNT LOGAN CAPITAL INC. OBTAINS LOAN OF US$5,000,000 TO SUPPORT GROWTH OF ABILITY INSURANCE COMPANY

Lind Bridge LP, a limited partnership of which Mount Logan Capital Inc. is the sole limited partner and of which a wholly owned subsidiary of Mount Logan is the sole general partner, has issued a term promissory note for gross proceeds to Lind Bridge of $5-million (U.S.).

Pursuant to the note, Lind Bridge has borrowed the loan amount and has agreed to pay interest to the lender on the unpaid principal amount of the note, including PIK interest (as defined below) at a rate per annum equal to 7.5 per cent before and after demand, maturity, default and/or judgment until the full and final repayment of the principal amount. Interest shall be calculated, compounded and paid in kind (PIK) by being capitalized and added to the outstanding principal balance of the note quarterly in arrears on the first business day of the first month of each quarter commencing on Oct. 1, 2023, and shall be payable on April 1, 2025, together with the outstanding principal amount, provided that the amount repaid to the lender in full satisfaction of the obligations of Lind Bridge under the note shall result in a minimum 4-per-cent return on the loan amount.

Lind Bridge intends to contribute the loan amount to its wholly owned subsidiary, Ability Insurance Company, which amount will be used by Ability to support the reinsurance of additional annuities in order to grow Ability's assets, and further diversity the business of Ability away from its long-term care business.

About Mount Logan Capital Inc.

Mount Logan Capital is an alternative asset management and insurance solutions 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 Mount Logan Management LLC and Ability Insurance Company, respectively. 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.

We seek Safe Harbor.