James River Group Holdings Ltd

There have been no material changes in our risk factors in the quarter ended March 31, 2024 from those disclosed in our Annual Report on Form 10-K for the year ended December 31, 2023, except as follows:

The purchase price received for the sale of JRG Re on April 16, 2024 is subject to a post-closing adjustment process that could result in a significant reduction to the sale proceeds.

In accordance with the Stock Purchase Agreement, the cash portion of the purchase price received by the Company for the sale of JRG Re on April 16, 2024 (the “Closing Date”) was calculated based on an estimated closing statement, which in turn was based on an estimated balance sheet of JRG Re. Under the Stock Purchase Agreement, the estimated closing statement is subject to a post-closing adjustment process between the Company and the buyer to produce a final closing statement based on a final balance sheet of JRG Re as of the Closing Date; this adjustment process could result in a change to the purchase price paid by the buyer on the Closing Date. It is possible that there will be material disputes between the Company and the buyer in connection with the post-closing adjustment process. The Stock Purchase Agreement provides procedures for resolving disputes between the parties regarding the final closing statement and final balance sheet and it is possible that these resolution procedures could result in a significant reduction to the amount of the final sales proceeds.