X0306 4 2021-05-24 0 0001801754 Trean Insurance Group, Inc. TIG 0001777244 Tully Daniel C/O TREAN INSURANCE GROUP, INC. 150 LAKE STREET WEST WAYZATA MN 55391 1 0 1 0 Common Stock, par value $0.01 per share 2021-05-24 4 S 0 47 13.30 D 270 I See footnotes Common Stock, par value $0.01 per share 2021-05-24 4 S 0 3458076 13.30 D 19545133 I See footnotes Common Stock, par value $0.01 per share 2021-05-24 4 S 0 12 13.30 D 61 I See footnotes Common Stock, par value $0.01 per share 2021-05-24 4 S 0 792363 13.30 D 4478455 I See footnotes Reflects sales of shares in the secondary offering of common stock of Trean Insurance Group, Inc. that closed on May 24, 2021. The securities are held of record by AHP-TH LLC. Altaris Health Partners III, L.P. is the sole owner of each of AHP-TH LLC and AHP-BHC LLC, and may be deemed to beneficially own the shares of common stock of the Issuer owned by each of AHP-TH LLC and AHP-BHC LLC. AHP III GP, L.P. is the general partner of Altaris Health Partners III, L.P., and may be deemed to beneficially own the shares of common stock of the Issuer beneficially owned by Altaris Health Partners III, L.P. Altaris Partners, LLC is the general partner of AHP III GP, L.P., and may be deemed to beneficially own the shares of common stock of the Issuer beneficially owned by AHP III GP, L.P. George Aitken-Davies and Mr. Tully are the Managers of Altaris Partners, LLC. Each of Mr. Aitken-Davies and Mr. Tully is in a position directly and indirectly to determine the investment and voting decisions made by Altaris Partners, LLC and the affiliated entities listed above. Mr. Aitken-Davies and Mr. Tully may each be deemed to have voting and investment power with respect to all shares of common stock of the Issuer held beneficially by Altaris Partners, LLC through the reporting persons described in these footnotes. Mr. Tully disclaims beneficial ownership of all shares of common stock of the Issuer except to the extent of his or its pecuniary interest therein. The securities are held of record by AHP-BHC LLC. The securities are held of record by ACP-TH LLC. Altaris Constellation Partners, L.P. is the sole owner of each of ACP-TH LLC and ACP-BHC LLC, and may be deemed to beneficially own the shares of common stock of the Issuer owned by each of ACP-TH LLC and ACP-BHC LLC. AHP Constellation GP, L.P. is the general partner of Altaris Constellation Partners, L.P., and may be deemed to beneficially own the shares of common stock of the Issuer beneficially owned by Altaris Constellation Partners, L.P. Altaris Partners, LLC is the general partner of AHP Constellation GP, L.P., and may be deemed to beneficially own the shares of common stock of the Issuer beneficially owned by AHP Constellation GP, L.P. The securities are held of record by ACP-BHC LLC. This Form 4 is a joint filing with the Form 4 filed by Altaris Partners, LLC, AHP-TH LLC, AHP-BHC LLC, ACP-TH LLC, ACP-BHD LLC, Altaris Health Partners III, L.P., AHP III GP, L.P., Altaris Constellation Partners, L.P., AHP Constellation GP, L.P. and George Aitken-Davies on May 24, 2021 and relates to the same holdings. /s/ Jason Zgliniec, power of attorney for Daniel Tully 2021-05-24