Mr. Nikita Klassen reports

MOUNT LOGAN CAPITAL INC. COMPLETES STRATEGIC MINORITY INVESTMENT IN RUNWAY GROWTH CAPITAL LLC

Mount Logan Capital Inc. has successfully completed its previously announced minority investment in Runway Growth Capital LLC, alongside B.C. Partners and its affiliates, which are acquiring the remaining outstanding ownership in Runway. On closing, Mount Logan issued to former Runway members an aggregate of 2,693,071 common shares of Mount Logan at a deemed price of $2.67, which was determined based on the 20-day volume-weighted average price prior to and including Jan. 27, 2025.

With approval of a new investment advisory agreement, Runway will continue to serve as investment adviser to its managed funds, including Runway Growth Finance Corp., a business development company, and to other private funds. Mount Logan looks forward to working with B.C. Partners and Runway's management and investment teams to capitalize on the opportunities available in the North American credit markets.

Management commentary

Ted Goldthorpe, chief executive officer and chairman of Mount Logan, stated: "We are thrilled to officially welcome David and the talented team at Runway to the Mount Logan family. We are excited about partnering with the Runway team to scale their specialized capabilities in providing financing solutions to late-stage growth platforms. Since the announcement, we have already seen significant benefits of our alignment with the Runway team. Runway's expertise enhances our credit capabilities, and we are confident in our ability to leverage their strong investment acumen to expand our product suite and further diversify our private credit fund offerings."

Advisers

Wildeboer Dellelce LLP acted as Canadian legal counsel to Mount Logan. Simpson Thacher & Bartlett LLP acted as legal counsel to B.C. Partners. Oppenheimer & Co. Inc. acted as the exclusive financial adviser to Runway Growth Capital LLC. Wachtell, Lipton, Rosen & Katz acted as legal counsel to Runway Growth Capital LLC and Eversheds Sutherland (U.S.) LLP acted as legal counsel to the independent directors of Runway Growth Finance.

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. Mount Logan 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.

ML Management was organized in 2020 as a Delaware limited liability company and is registered with the SEC as an investment adviser under the Investment Advisers Act of 1940, as amended. The primary business of ML Management is to provide investment management services to (i): privately offered investment funds exempt from registration under the Investment Company Act of 1940, as amended, advised by ML Management; (ii) a non-diversified closed-end management investment company that has elected to be regulated as a business development company; (iii) Ability; and (iv) non-diversified closed-end management investment companies registered under the 1940 act that operate as interval funds. ML Management also acts as the collateral manager to collateralized loan obligations backed by debt obligations and similar assets.

Ability is a Nebraska-domiciled insurer and reinsurer of long-term care policies acquired by Mount Logan in the fourth quarter of fiscal year 2021.

We seek Safe Harbor.