H1 2026 Results

Malibu Life Holdings Limited ("MLHL" or the "Company") today announces its interim results for the six months ended 30 June 2026. During H1 2026, MLHL delivered continued book value growth and positive earnings performance, with consolidated book value per share increasing 9% to $36.57 and total comprehensive income of $54 million.

Malibu Life enters the second half of 2026 with greater scale and strategic flexibility across its reinsurance and U.S. retail annuity platforms. The platform is supported by strengthened leadership, including Todd Shriber as Chief Executive Officer and Robert Pavleszek as Chief Operating Officer, the completed acquisition of TruSpire Retirement Insurance Company and $125 million of additional capital.

H1 2026 Financial Results

• Consolidated MLHL book value per share ended the period at $36.57, an increase of 9% from 31 December 2025.
• MLHL generated total comprehensive income of $54 million for the first half of 2026, with total shareholders' equity of $624.2 million at period-end.
• Malibu Life Reinsurance SPC had total assets of $1.7 billion at period-end and generated $188 million of annuity premiums during the first half.
• Malibu Life Reinsurance SP 1 generated standalone total comprehensive income of $33 million for the six months ended 30 June 2026.
• The Third Point Master Fund returned 6.9%, generating $27 million of investment income for MLHL. MLHL's $377 million investment balance represented approximately 60% of net assets at period-end.

Dimitri Goulandris, Chairman of MLHL, said:

"H1 delivered solid financial progress while we continued to build the leadership, capital, and operating capabilities needed for the next phase. With TruSpire now part of the platform, we are positioned to scale both reinsurance and direct U.S. annuity origination."

H2 Strategic Momentum and Outlook

• Successfully completed the acquisition of TruSpire Retirement Insurance Company in July 2026, establishing direct U.S. annuity origination capabilities. TruSpire will operate as Malibu Life USA, with its initial fixed index annuity product targeted for Q4.
• Strengthened the capital position through a $125 million follow-on equity raise. The Company also received initial A- financial strength ratings from KBRA for Malibu Life Reinsurance and TruSpire, while AM Best affirmed TruSpire at B++ with a stable outlook.
• Continues to pursue additional reinsurance treaties, advance its Bermuda strategy, and explore adjacent liability sets and markets. The existing reinsurance treaty is expected to reach approximately $3 billion of cumulative premiums by the end of 2028.
• Plans to broaden the Malibu Life USA product portfolio and scale distribution through Independent Marketing Organization partners, while remaining focused on risk-adjusted returns, operating integration, and infrastructure built for scale.

Todd Shriber, Chief Executive Officer of MLHL, said:

"We enter the second half with $1.6 billion of premium reinsured since inception and the TruSpire acquisition complete. Our focus remains disciplined execution: pricing to our return requirements, managing capital prudently, and building a scalable platform for policyholders, cedents, and shareholders."

The Company will host a virtual interim results presentation. The event will be broadcast at 3pm BST / 10am ET on 25 September 2026.

To register to attend the virtual presentation, please use the following link: https://mlhl-2026-interim-results.open-exchange.net

The Company's interim report for the period ended 30 June 2026 is also now available on the Resources page of the Company's website (https://www.malibulifeinsurance.com).