Mount Logan Capital updates TURN portfolio exit and discloses employee misconduct investigation

Mount Logan Capital Inc.

Business combination with 180 Degree Capital closed Sept 12; legacy TURN portfolio reduced from 6 to 3 positions, appreciated $2M; full exit expected by H1 2026.
Capital allocation priorities: potential tender offer, stock repurchases, funding Ability insurance growth, and asset management expansion.
Former employee misconduct discovered Oct 2025; ML Management ended relationship; independent investigation ongoing.
Repaid ~$690k (incl. interest) to one portfolio company; additional potential misappropriation up to $180k; may compensate fund for fees up to $1.35M.
Self-reported to SEC; company believes isolated and does not impact core strategic initiatives.

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