Slide 1: Fourth Quarter 2025
Mount Logan Capi ‘a Fourth Quarter 202 March 2026
Slide 2: Important Information
Important Information Cautionary Statement Regarding Forward-Looking Statements This presentation, and oral statements made from time to time by representatives of Mount Logan Capital Inc. (“Mount Logan” and “MLCI”) or Opportunistic Credit Interval Fund (“SOFIX”) may contain statements of a forward-
Slide 3: Important Information
Important Information Cautionary Statement Regarding Forward-Looking Statements Each of Mount Logan and SOFIX do not undertake any obligation, and expressly disclaims any obligation, to publicly update any forward-looking statement, whether as a result of new information, future events or otherwise,
Slide 4: Important Information
Important Information Estimates and Assumptions This presentation includes unaudited financial and business projections. These projections, and their underlying assumptions, are inherently unpredictable and undue reliance should not be placed thereon. These estimates reflect internal financial model
Slide 5: Important Information
Important Information No Offer or Solicitation This presentation is not, and under no circumstances is it to be construed as, a prospectus or an advertisement and the communication of this release is not, and under no circumstances is it intended to be and does not constitute an offer to sell or the
Slide 6: Integrated Alternative Asset Manager and Insurance Solutions Platform
Integrated Alternative Asset Manager and Insurance Solutions Platform 6
Slide 7: Multi-Year Growth Strategy Focused on Organic and Inorganic Opportunities
Multi-Year Growth Strategy Focused on Organic and Inorganic Opportunities 7
Slide 8: Mount Logan Management
Mount Logan Management $12.0 $10.0 $9.9 $8.0 $8.2 $6.0 $4.0 $4.3 $2.0 $2.4 $- $1.2 2021 2022 2023 2024 2025 Core Vehicles Total $13 T 45% 20% $4 T 1992 2024 2022 2032E 8
Slide 9: Ability Insurance Company
Ability Insurance Company $545.0 $481.0 $6.4M $417.0 76 71 $208.7 $198.7 63 $2.0M 56 48 PRE-CLOSE (OCT-21) Q4'25 2016A 2020A 2025E 2030E 2035E Annuity Sales People Age 65+ (M) 9
Slide 10: Building a Scalable and Compounding Flywheel
Building a Scalable and Compounding Flywheel 10
Slide 11: Multi-Year Strategy on Expanding Asset Management & Insurance Platforms
Multi-Year Strategy on Expanding Asset Management & Insurance Platforms Showcased ability to Closed Ability Closed strategic grow both organically acquisition in Nov’21 combination with 180 and inorganically Degree Capital in Sep'25 Direct writing AUM1 of MYGA business Announced Yieldstreet AUM of $
Slide 12: Experienced Management Team
Experienced Management Team • Partner in charge of the Global Credit Business at BC Partners (launched the credit platform in Feb 2017) • Previously President of Apollo Investment Corporation and the Chief Investment Officer of Apollo Investment Management • Previously at Goldman Sachs for 13 years,
Slide 13: 2025 Actions Strengthened Mount Logan's Platform
2025 Actions Strengthened Mount Logan’s Platform Transformative • Completed business combination with 180 Degree Capital Corp. in September 2025 Merger • Increased scale and strengthened balance sheet to support organic and strategic growth Transitioned to US and • Began trading as Mount Logan Capit
Slide 14: Inorganic Growth – Mount Logan-Managed SOFIX to Acquire $100m+ in Assets
Inorganic Growth – Mount Logan-Managed SOFIX to Acquire $100m+ in Assets $100 Million+ ~2.8 Million, or ~30% of Expected To Be Increase in AUM 2025 FRE Immediately Accretive Estimated Increase to to MLCI1 Annual FRE1 • YS AIF and SOFIX investors gain access to a larger investment vehicle with greate
Slide 15: Scaling Mount Logan's Platform Through Disciplined M&A
Scaling Mount Logan’s Platform Through Disciplined M&A • Demonstrated ability to source, acquire and integrate credit platforms Proven M&A • Since 2018, MLCI has completed 17 acquisitions and strategic investments Platform • Flexible structures including platform acquisitions, minority investments,
Slide 16: Ability Insurance Positioned for Profitable, Scalable Growth
Ability Insurance Positioned for Profitable, Scalable Growth Insurance business highly strategic to Mount Logan and represents key driver of future growth Significant investment into Ability at year-end 2025, to Expand offerings of solutions, catered towards retirement support the organic growth fly
Slide 17: Capital Allocation Strategy Focused on Growth
Capital Allocation Strategy Focused on Growth - Strategy focused on acquiring sub-scale managers, contracts, or origination platforms - Pipeline to continue scaling our permanent and semi-permanent capital asset base - Since 2018, MLC’s management team has completed 17 acquisitions and strategic inv
Slide 18: Financial Results
oP» THIRD QUARTER 2025 MOUNT LOGAN Financial Results CAPITAL
Slide 19: 2025 Financial Highlights
2025 Financial Highlights • 2025 was a year of investment as the team closed the TURN merger, transitioned to GAAP financials, completed a minority investment into Runway Growth Capital LLC, increased revenues from core managed-vehicles, and completed additional reinsurance agreements. • Company hig
Slide 20: Asset Management
Asset Management Logan Ridge and Portman Ridge merged and was rebranded as BCP Investment Corporation (Nasdaq: BCIC), resulting in the loss of the Logan Ridge fee stream, partially offset by a new profit-sharing arrangement with Sierra Crest Investment Management, the manager of BCIC. $9.1 $8.5 Mana
Slide 21: Insurance Solutions
Insurance Solutions Results reflected lower investment yields, higher cash balance and larger cost of funds, partially offset by tighter expense management. We expect spreads to build toward the 75-100 basis point range as the company actively manages its investment portfolio and evaluates new liabi
Slide 22: Mount Logan Investment Vehicles
Mount Logan Investment Vehicles • Asset base growth and active deployment of capital as Ability increases reinsurance annuity • Diversified investment portfolio across investment grade, private credit, real estate debt, and other alternative investments • Closed-end, registered BDC with permanent fe
Slide 23: Appendix
MOUNT LOGAN Appendix
Slide 24: Consolidated Statements of Financial Position- Assets
Consolidated Statements of Financial Position- Assets (in thousands, except per share data) December 31, 2025 December 31, 2024 ASSETS Asset Management Cash and cash equivalents $ 14,999 $ 8,933 Investments (including related party amounts of $25,423 and $20,871 at December 31, 2025 and December 31,
Slide 25: Consolidated Statements of Financial Position – Liabilities and Equity
Consolidated Statements of Financial Position – Liabilities and Equity (in thousands, except per share data) December 31, 2025 December 31, 2024 LIABILITIES Asset Management Due to related parties $ 11,844 $ 10,470 Debt obligations 76,250 74,963 Accrued expenses and other liabilities 9,515 5,669 97,
Slide 26: Consolidated Statements of Operations
Consolidated Statements of Operations Years Ended December 31, (in thousands, except per share data) 2025 2024 REVENUES Asset Management Management fees $ 9,532 $ 11,131 Incentive fees 1,613 3,198 Advisory and transaction fees, net 798 — Equity investment earning 1,023 680 12,966 15,009 Insurance So
Slide 27: Consolidated Statements of Operations continued
Consolidated Statements of Operations continued Years Ended December 31, (in thousands, except per share data) 2025 2024 EXPENSES Asset Management Administration and servicing fees 7,802 5,895 Transaction costs 9,501 2,174 Compensation and benefits 8,392 8,412 Amortization and impairment of intangib
Slide 28: Reconciliation of GAAP to Non-GAAP Financial Measures
Reconciliation of GAAP to Non-GAAP Financial Measures Years Ended December 31, 2025 2024 Net income (loss) $ (60,847) $ (10,387) Income tax (expense) benefit — Asset Management (2,386) (606) Income (loss) before taxes $ (58,461) $ (9,781) Asset Management Adjustments: Intersegment management fee eli
Slide 29: Endnotes & Definitions
Endnotes & Definitions Non-GAAP Financial Measures 29
Slide 30: 650 Madison Avenue, 3 rd Floor New York, New York 10022 ir.mountlogan.com
650 Madison Avenue, 3rd Floor New York, New York 10022 ir.mountlogan.com