LARGE SHAREHOLDER ADDRESSES JAMES RIVER GROUP BOARD FOLLOWING DISCRETIONARY MANAGEMENT PERFORMANCE BONUSES

Gregory and Scott Fortunoff, who together with their affiliates, hold a substantial equity interest in James River Group Holdings, Ltd. (NASDAQ: JRVR) (the "Company"), sent the following letter to the Company's Board of Directors (the "Board") regarding the Board's recent decision to significantly increase the cash incentive awards for Company management for the 2024 performance period despite the Company's ongoing underperformance.

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