White Mountains Insurance Group Increases Ownership Percentage in MediaAlpha, Inc. to 33.03%

White Mountains Insurance Group, Ltd. and its subsidiary, WM Hinson (Bermuda) Ltd., filed an Amendment No. 6 to their Schedule 13D regarding MediaAlpha, Inc. (MAX). The reporting persons collectively hold 17,856,614 Class A Shares, representing approximately 33.03% of the outstanding class. This amendment primarily reflects a change in the beneficial ownership percentage resulting from a change in the total number of outstanding Class A Shares as disclosed in the Issuer's Form 10-Q filed on April 29, 2026. Specifically, White Mountains directly holds 900,000 shares and indirectly holds 16,956,614 shares through WM Hinson. Additionally, the filing notes significant changes to board representation: Jennifer Moyer declined to stand for re-election on March 31, 2025, and Christopher Delehanty resigned on December 4, 2025. The Reporting Persons stated they have no current intent to designate directors to fill these vacancies. Calculations are based on 54,062,155 Class A Shares outstanding as of April 24, 2026.