TIPT · Tiptree Inc.

Tiptree Inc., through its wholly owned subsidiary Reliance Holdings LLC, divested its entire ownership in Reliance First Capital LLC by selling all membership interests to Carrington Mortgage Services, LLC. The transaction closed on May 1, 2026, providing immediate cash proceeds of $47,291,890 to the sellers, bolstering Tiptree's liquidity position. An additional $3,027,798 is held in two escrows: $2 million tied to post-closing purchase price adjustments and $1.03 million for specified tax liabilities, both anticipated to be released to sellers upon resolution of respective matters per the agreement terms. This divestiture simplifies Tiptree's structure by exiting the mortgage services segment, potentially allowing focus on core operations and reducing associated operational risks or capital requirements. The deal follows the original Purchase Agreement from October 31, 2025, with an amendment in December 2025, indicating a structured process with defined contingencies for adjustments and taxes.