PHILADELPHIA FINANCIAL GROUP

Philadelphia Financial is a global specialty insurer and administration company with a focus on providing and supporting innovative solutions which combine insurance and investment management which may offer opportunities for clients around the world to grow wealth more effectively. Philadelphia Financial is an indirect subsidiary of Tiptree Financial Inc (NASDAQ: “TIPT”), a diversified holding company. Tiptree is primarily focused on four sectors of financial services: insurance and insurance services, specialty finance (including corporate, consumer and tax-exempt credit), asset management and real estate.