Mount Logan Capital Inc. Completes Previously Announced Acquisition Of Ability Insurance Company And Transaction Related Issuance Of Shares

Mount Logan Capital Inc. (NEO: MLC) (“Mount Logan,” “our,” “we,” or the “Company”) announces that it has completed its previously announced acquisition of 100% of the equity of Ability Insurance Company (“Ability”) for a purchase price of $20 million (the “Purchase Consideration”) comprised of the issuance of an unsecured promissory note in the amount of $15 million and $5 million of common shares (“Shares”) of Mount Logan (the “Transaction”). Mount Logan’s wholly-owned subsidiary, Mount Logan Management LLC (“ML Management”) has now been engaged as an investment adviser for a meaningful portion of Ability’s assets, increasing ML Management’s assets under management (“AUM”). The transaction has been approved by both the Nebraska Department of Insurance as well as the Neo Exchange Inc.