ANGI plans P&C reorganization to Argo, transferring ~4% of assets and 18% of equity

American National Group Inc.

P&C subsidiaries represent ~4% of total assets, ~18% of total equity as of June 30, 2025.
P&C contributed $6M to net loss before taxes of $66M for H1 2025; 26% of 2024 net income before taxes.
Company expects capital contribution post-reorganization to repay term loans, aiming leverage neutral.
Closing subject to regulatory approvals, expected by end of 2025; no definitive agreement yet.
Investor meetings beginning August 18, 2025; supplemental disclosure filed as Exhibit 99.1.

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