X0306 4 2017-08-16 0 0001072627 KINGSWAY FINANCIAL SERVICES INC KFS 0001113303 STILWELL JOSEPH 111 BROADWAY, 12TH FLOOR NEW YORK NY 10006 1 0 1 0 Common Stock 2017-08-16 4 P 0 2500 5.9 A 3884223 D After giving effect to the transactions reported herein, the following individual and entities directly own shares of common stock as follows: Joseph Stilwell, 162,500 shares; Stilwell Value Partners III, L.P., 60,000 shares; Stilwell Value Partners IV, L.P., 0 shares; Stilwell Associates, L.P., 903,066 shares; Stilwell Activist Fund, L.P., 302,292 shares; and Stilwell Activist Investments, L.P., 2,456,365 shares; Stilwell Associates Insurance Fund of the SALI Multi-Series Fund L.P., 0 shares; The aggregate shares are owned indirectly by Joseph Stilwell and all listed entities, other than Stilwell Associates Insurance Fund of the SALI Multi-Series Fund L.P., through Joseph Stilwell's capacity as the managing member and 99% owner of Stilwell Value LLC, which is the general partner of Stilwell Value Partners III, L.P., Stilwell Value Partners IV, L.P., Stilwell Associates L.P., Stilwell Activist Investments, L.P., and Stilwell Activist Fund, L.P. Pilar Torres by Power of Attorney 2017-08-17