Core Viewpoint - Kingsway Financial Services Inc. is set to host an Investor Day following its Annual General Meeting on May 18, 2026, in New York City, highlighting its unique position as the only publicly-traded US company utilizing the Search Fund model for business acquisitions and development [1]. Company Announcement - The event will feature President and CEO JT Fitzgerald and Executive Vice President and CFO Kent A., indicating a focus on engaging with investors and discussing the company's strategic direction [1].

Core Insights - Kingsway Financial Services Inc. is the only publicly-traded US company utilizing the Search Fund model to acquire and develop businesses [1] - Colter Hanson has been appointed as the newest Operator-in-Residence within the Kingsway Search Xcelerator Segment [1] - The announcement was made by J.T., indicating a positive outlook for the KSX platform with the addition of Hanson [1]

Kingsway's Business Model and Strategy - Kingsway Financial Services Inc is the only publicly-traded US company employing the Search Fund model to acquire and build businesses[9, 59] - Kingsway seeks to compound long-term shareholder value through its decentralized management model and tax-advantaged structure[10] - Kingsway employs the traditional Search Fund model to acquire small businesses with EBITDA of $1-3 million for roughly 4-6x EBITDA using a 50/50 split of equity and debt[20] - Kingsway targets 2-3 acquisitions per year with an acquisition IRR hurdle of >30%[50] - Kingsway has $622 million of valuable NOL tax assets[41] Financial Performance and Acquisitions - Kingsway's 12-month run-rate adjusted EBITDA for its operating companies is $18.0-$19.0 million[51] - KSX revenue grew +23.3% year-over-year in Q1 2025[68] - KSX adjusted EBITDA grew +23.2% year-over-year in Q1 2025[68] - Bud's Plumbing was acquired for $5.0 million at a 6.0x EBITDA multiple based on $0.8 million TTM Adj EBITDA[55, 102] Search Fund Model and Market Opportunity - Historical return across all Search Funds tracked by the Stanford Graduate School of Business since 1984 is +35.1%[14] - Nearly $4.8 trillion of net worth will be transferred over the next 20 years due to Baby Boomer business owner retirements[22]