On April 3, 2018, Tiptree Inc. (“Tiptree”) issued, through a subsidiary, 1,187,468 shares of Class A common stock to a limited partner of Tiptree Financial Partners, L.P. (“TFP”) in exchange for an aggregate of 424,399 TFP partnership units (the “Exchange”) in transactions exempt from registration under the Securities Act of 1933, as amended, to Section 4(a)(2) thereunder. TFP delivered to Tiptree for cancellation one share of Class B common stock of Tiptree for each share of Class A common stock issued.

After the Exchange, as ofApril 3, 2018, there were 36,190,472 shares of Class A common stock of Tiptree outstanding (including 5,080,943 shares of Class A common stock of Tiptree that are outstanding and held by a subsidiary) and 6,861,561 shares of Class B common stock of Tiptree outstanding. On an as exchanged basis, assuming full exchange of the TFP partnership units for Tiptree Class A common stock and excluding shares held by a subsidiary of Tiptree, as of April 3, 2018, there were 37,971,090 shares of Class A common stock outstanding.

After the Exchange, as of April 3, 2018, Tiptree directly owned approximately 84% of TFP with the remaining approximately 16% owned by various limited partners and reported as a non-controlling interest.

About TIPTREE INC. (NASDAQ:TIPT)

Tiptree Inc., formerly Tiptree Financial Inc., is a diversified holding company that acquires and manages controlling interests of operating businesses. The Company conducts its operations through Tiptree Operating Company, LLC (the Operating Company). It operates through five segments: insurance and insurance services, specialty finance, real estate, asset management, and corporate and other. The insurance and insurance services segment operates through Fortegra Financial Corporation. The specialty finance segment operates through Siena Capital Finance LLC and Luxury Mortgage Corp. The real estate segment operates through Care LLC. The asset management segment operations include Telos Asset Management’s management of collateralized loan obligations and Muni Capital Management’s management of Non-Profit Preferred Funding Trust I. The corporate and other segment operations include Tiptree Direct Holdings LLC (TDH) and Muni Funding Company of America LLC (MFCA).