Mount Logan Capital Inc. · NASDAQ:MLCI
Mount Logan Capital — Q2 2026 Earnings Presentation
33 slides from Mount Logan Capital's earnings presentation, Aug 12, 2026
Slide 1: Second Quarter 2026 Results
Mount Logan Capital Inc. (Nasdaq: MLCI) Second Quarter 2026 Results August 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” or “MLCI”) and Opportunistic Credit Interval Fund (“SOFIX”) may contain statements of a forward-
Slide 3: Important Information
Important Information Cautionary Statement Regarding Forward-Looking Statements (continued) Neither Mount Logan nor SOFIX 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 other
Slide 4: 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 5: Building a Scalable Alternative Asset Manager Powered by Permanent Insurance Capital
Building a Scalable Alternative Asset Manager Powered by Permanent Insurance Capital Mount Logan Capital Inc. operates an integrated business model, which combines private credit asset management via its SEC- registered asset manager, Mount Logan Management, alongside a scalable insurance solutions
Slide 6: Mount Logan Business Highlights
Mount Logan Business Highlights Q4’20 (LTM) Three Segments Q2’26 (LTM) Scaling Private Strategic Origination Insurance Asset Credit Manager Platform Investments Management Asset Management Insurance Origination Closed strategic Platform Showcased ability to Closed Ability combination with 180 grow b
Slide 7: Multi-Year Growth Strategy Focused on Organic and Inorganic Opportunities
Multi-Year Growth Strategy Focused on Organic and Inorganic Opportunities Synergistic asset management and insurance business model Strong leadership with management experience in asset management and insurance solutions businesses Compelling combination of growth supported by stable, long-term capi
Slide 8: Mount Logan Management Overview
Mount Logan Management Overview Mount Logan Management is an alternative asset manager with a private credit investment platform, that manages various funds and focuses on generating alpha in investments with downside protection across all market cycles. Asset Management Model Investment Philosophy
Slide 9: Mount Logan Management Growth Strategy
Mount Logan Management Growth Strategy Mount Logan's asset management strategy was built for growth, taking advantage of tailwinds in the alternative asset management space Strong investment track record, with Strong AUM growth runway through Benefiting from powerful industry SOFIX retail fund gener
Slide 10: Ability Insurance Company
Ability Insurance Company Ability Insurance Company is a Nebraska-domiciled insurance company focused primarily on MYGA retirement products (licensed in 43 states). Management Fees (LTM) ($ in millions) Market ($ in billions) 1 Opportunity +29% CAGR $545.0 $481.0 ➢ Repositioned the insurance segment
Slide 11: Experienced Management Team
Experienced Management Team Highly skilled leadership team complemented by BC Partners best-in-class infrastructure and resources, creating unique opportunity. Staffing & Servicing $2.0 Billion 1 $1.0 Billion 20%+ Mount Logan AUM Ability’s investable assets Insider Agreements BC Partners Credit supp
Slide 12: Building a Scalable and Compounding Growth Flywheel
Building a Scalable and Compounding Growth Flywheel Mount Logan's integrated model pairs disciplined private credit origination with a growing retirement solutions platform — generating durable spread income for policyholders and compounding FRE for shareholders through a mutually reinforcing growth
Slide 13: Recent Actions Strengthened Mount Logan's Platform
Recent Actions Strengthened Mount Logan’s Platform Recent 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 Transi
Slide 14: 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 2026 2027+ Build Foundation Profitable Growth Significant investment into Ability to support the organic Expand retirement-focused solutions, inc
Slide 15: Insurance Solutions Platform Direct Liability Origination
Insurance Solutions Platform Direct Liability Origination Owning policyholder relationship will allow Ability to better control demand and capture full economics. Control Economics Platform Control Better Economics ReliAbility MYGA Launch Rationale Greater control over product design, pricing, Captu
Slide 16: 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 Robust M&A • Since 2018, MLCI has completed 17 acquisitions and strategic investments Platform • Flexible structures including platform acquisitions, minority investments,
Slide 17: Inorganic Growth – Mount Logan-Managed SOFIX to Acquire $100m+ in Assets
Inorganic Growth – Mount Logan-Managed SOFIX to Acquire $100m+ in Assets Inorganic Growth – Mount Logan-Managed SOFIX to Acquire $100m+ in Assets Transaction Overview Transaction at a Glance In March 2026, Mount Logan-managed Opportunistic Credit Interval Fund $100 Million+ (SOFIX) entered into a de
Slide 18: Strategies Underway to Drive FRE & SRE Growth
Strategies Underway to Drive FRE & SRE Growth Initiatives to Grow Assets Actions to Improve Operations Yieldstreet Transaction Optimize Cost Structure Mount Logan currently estimates, on a full-year Disciplined expense management to drive operating basis, the transaction will increase FRE by $2.8+ l
Slide 19: Capital Allocation Strategy Focused on Growth
Capital Allocation Strategy Focused on Growth Acquisitions - Strategy focused on acquiring sub-scale managers, contracts, or origination platforms 01 - Pipeline to continue scaling our permanent and semi-permanent capital asset base - Since 2018, MLCI’s management team has completed 17 acquisitions
Slide 20: Mount Logan Vision
Mount Logan Vision Creating long-term shareholder value by building a highly profitable, scaled alternative asset manager Strategic Actions to Achieve Our Vision Grow Assets Under Scale Recurring FRE Broaden Insurance Maintain Rigorous Management and SRE Capabilities Credit Acumen What Makes Mount L
Slide 21: Financial Results
SECO ND QUA RT ER 2 0 2 6 Financial Results 21
Slide 22: Q2 2026 Financial Highlights
Q2 2026 Financial Highlights FRE Fee Related Earnings SRE Spread Related Earnings The recurring management fees MLCI earns for managing assets. It doesn't The profit Ability earns on the difference between the yield on its invested depend on market performance; it grows as AUM grows. More mandates,
Slide 23: Asset Management
Asset Management FRE declined in Q2’26, primarily driven by lower management fees. 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 Sier
Slide 24: Insurance Solutions
Insurance Solutions Spread Related Earnings (“SRE”) was $2.9 million for the second quarter of 2026 compared to a loss of $91 thousand for comparative period last year. The increase in SRE was primarily driven by higher net investment income and realized gain (losses) and lower cost of funds, partia
Slide 25: Asset Management Universe of Clients and Funds
Asset Management Universe of Clients and Funds ABILITY INSURANCE COMPANY Insurance Retail Institutional • Asset base growth and active deployment of capital supported by Ability’s direct writing launch AUM • Diversified investment portfolio across investment $953M grade, private credit, real estate
Slide 26: Appendix
MOUNT LOGAN Appendix
Slide 27: Consolidated Statements of Financial Position- Assets
Consolidated Statements of Financial Position- Assets Consolidated Statements of Financial Position- Assets (in thousands, except per share data) June 30, 2026 December 31, 2025 ASSETS Asset Management Cash and cash equivalents $ 4,774 $ 14,999 Investments (including related party amounts of $23,929
Slide 28: Consolidated Statements of Financial Position – Liabilities and Equity
Consolidated Statements of Financial Position – Liabilities and Equity (in thousands, except per share data) June 30, 2026 December 31, 2025 LIABILITIES Asset Management Due to related parties $ 13,532 $ 11,844 Debt obligations 98,059 76,250 Accrued expenses and other liabilities 3,879 9,515 115,470
Slide 29: Consolidated Statements of Operations
Consolidated Statements of Operations Three months ended June 30, Six months ended June 30, (in thousands, except per share data) 2026 2025 2026 2025 REVENUES Asset Management Management fees $ 1,691 $ 2,809 $ 3,330 $ 6,049 Incentive fees 419 478 813 777 Advisory and transaction fees, net — — 66 — E
Slide 30: Consolidated Statements of Operations continued
Consolidated Statements of Operations continued Three months ended June 30, Six months ended June 30, (in thousands, except per share data) 2026 2025 2026 2025 EXPENSES Asset Management Administration and servicing fees 3,305 1,812 6,944 3,049 Transaction costs (48) 2,753 34 7,298 Compensation and b
Slide 31: Reconciliation of GAAP to Non-GAAP Financial Measures
Reconciliation of GAAP to Non-GAAP Financial Measures Reconciliation of GAAP to Non-GAAP Financial Measures Summary of Non-U.S. GAAP Measures The following presents a reconciliation of Net Income (loss) attributable to Mount Logan common shareholders to Segment Income: Three months ended June 30, Si
Slide 32: Endnotes & Definitions
Endnotes & Definitions For the avoidance of doubt, the AUM measure can include assets for which MLM does not have investment discretion, including assets sub-advised by investment managers not affiliated with MLM or certain assets for which MLM may earn only servicing fees, rather than management or
Slide 33: 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