RADIAN GROUP INC

INDEX TO ITEM 1 Page General 13 Mortgage Insurance 16 Investment Policy and Portfolio 25 Enterprise Risk Management 26 Human Capital Management 29 Inigo Acquisition 31 Regulation 32 General Overview As a leading U.S. private mortgage insurer, Radian provides solutions that expand access to affordable, responsible and sustainable homeownership and helps borrowers achieve their dream of owning a home. As of December 31, 2025, we had one reportable business segment, Mortgage Insurance. Our Mortgage Insurance segment aggregates, manages and distributes U.S. mortgage credit risk for the benefit of mortgage lending institutions and mortgage credit investors, principally through private mortgage insurance on residential first-lien mortgage loans. In September 2025, following a comprehensive strategic review, we announced that we had entered into a definitive agreement to acquire Inigo, a Lloyd’s specialty insurer, as part of the Company’s planned strategic transformation to a global multi-line specialty insurer. The acquisition was completed on February 2, 2026; see Inigo Acquisition below for additional information. Also, following this comprehensive strategic review, in September 2025 we announced the planned divestiture of our Mortgage Conduit, Title and Real Estate Services businesses, which is expected to be completed no later than the end of the third quarter of 2026. Radian Group serves as the holding company for our operating subsidiaries through which we offer our products and services and does not have any operations of its own.