KINGSWAY Corp

Kingsway Financial Services Inc. is a holding company with operating subsidiaries in the United States, listed on the NYSE under "KFS." The company was incorporated on September 19, 1989, under the Business Corporations Act (Ontario) and changed its jurisdiction to the State of Delaware effective December 31, 2018. Kingsway operates a collection of B2B and B2C services companies that are asset-light, growing, and have recurring revenues. It is the only publicly-traded US company using the Search Fund model to acquire and build businesses. Kingsway owns or controls subsidiaries primarily in the business services and extended warranty industries. The company conducts its business through two reportable segments: Kingsway Search Xcelerator and Extended Warranty. These segments primarily operate and distribute products and services in the United States. On March 14, 2025, Kingsway acquired 100% of M.L.C. Plumbing, LLC, which operates as Bud's Plumbing Service. Bud's Plumbing, based in Evansville, Indiana, provides plumbing installation, service, and repair services to residential and commercial customers. All dollar amounts in the 2025 Annual Report are in U.S. dollars.