Material Event (Form 8-K)

On December 29, 2025, Radian Group Inc. ("Radian" or the "Company") entered into a $600 million note (the "Intercompany Note") with Radian Guaranty Inc., ("RGI") its wholly owned subsidiary. The Intercompany Note has a ten-yearterm and bears interest at a rate of 6.50% per annum. As previously disclosed, the Company will use the proceeds of the Intercompany Note to fund a portion of the purchase price payment to acquire Inigo Limited, a limited liability company incorporated in England and Wales ("Inigo). Radian expects to close the pending acquisition of Inigo in February 2026, subject to the satisfaction of customary closing conditions.

The Intercompany Note was approved by the Pennsylvania Insurance Department (the "Department"). As a condition to receiving approval from the Department, the Company has agreed to provide certain enhanced reporting to the Department while the Intercompany Note remains outstanding and to prepay the Intercompany Note prior to maturity, in whole or in part, if RGI needs additional liquidity to meet its policyholder obligations. Additionally, while the Intercompany Note remains outstanding, RGI is required to comply with certain conditions, including, most notably, obtaining prior approval from the Department for all dividends paid by RGI for a period of three years (which the Company may request to be reduced, or the Department may, in certain circumstances, extend for up to five years) and maintaining a minimum policyholders' surplus of $500 million, among other conditions.