TIPTREE INC.

Tiptree Inc. successfully completed the previously announced sale of its specialty insurer subsidiary, The Fortegra Group, Inc., to DB Insurance Co., Ltd. for a purchase price of $1.65 billion in cash. This divestment strengthens Tiptree's balance sheet, resulting in approximately $23.80 of pro-forma book value per diluted share, and provides enhanced financial flexibility for future strategic acquisitions. In conjunction with the closing, Tiptree authorized a new $20 million share repurchase program.

Tiptree Inc. announced that it expects the previously disclosed merger of its subsidiary, The Fortegra Group, Inc., with DB Insurance Co., Ltd. to close on May 29, 2026. Under the terms of the Merger Agreement, DB Insurance will acquire Fortegra for a purchase price of $1.65 billion in cash. The merger remains subject to the satisfaction or waiver of customary closing conditions.

Tiptree Inc. and its subsidiary, Reliance Holdings LLC, completed the sale of all issued and outstanding membership interests of Reliance First Capital LLC to Carrington Mortgage Services, LLC. The transaction, pursuant to a Purchase Agreement dated October 31, 2025, closed on May 1, 2026. At closing, Tiptree received $47,291,890 in cash, with an additional $2,000,000 and $1,027,798 held in escrow for purchase price adjustments and specified tax matters, respectively.

Tiptree Inc. reported Q1 2026 net income attributable to common stockholders of $14.2 million, or $0.38 per basic share, significantly up from $5.6 million in Q1 2025. This increase was primarily driven by net income from discontinued operations, which includes the Fortegra insurance segment and Reliance mortgage segment, both classified as held for sale. The sale of Fortegra for $1.65 billion is anticipated to close in mid-2026, subject to regulatory approvals, while the sale of Reliance is also expected to close in mid-2026.

Tiptree Inc. announced an amendment to its merger agreement for the sale of its subsidiary, The Fortegra Group, Inc., to DB Insurance Co., Ltd. The amendment removes the condition for NYDFS approval of South Bay Acceptance Corp.'s control acquisition, instead requiring SBAC to surrender its premium finance agency license by May 5, 2026. Concurrently, Tiptree reported Q1 2026 diluted earnings per share of $0.34, driven by net income from discontinued operations, and declared a cash dividend of $0.06 per share. The company also repurchased $5.0 million in shares and reiterated its mid-2026 anticipated closing for both the Fortegra and Reliance First Capital sales.