Mr. Ted Goldthorpe reports

MOUNT LOGAN CAPITAL INCREASES SURPLUS WITH ISSUANCE OF US$12,000,000 SURPLUS NOTE

Mount Logan Capital Inc.'s wholly owned subsidiary, Ability Insurance Company, has increased its surplus capital by raising proceeds of $12-million (U.S.) through the issuance of a 10 per cent surplus note due December, 2032.

"This is an important step for Ability as we drive growth and make progress towards our long-term vision for the company," said Annie Elliott, the president of Ability. Ted Goldthorpe, chief executive officer of Mount Logan, added, "This is a key milestone for Mount Logan as it allows us to continue to grow our insurance asset management business and execute on our business plan."

The proceeds from the surplus note provide additional surplus funds to Ability and will be used for general working capital purposes. The note pays a 10-per-cent coupon quarterly in arrears, and performance is guaranteed by an affiliate of Ability.

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 (ML Management) 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.

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.

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