MSP Recovery, Inc.

The Company is unable to file its Quarterly Report on Form 10-Q for the fiscal quarter ended June 30, 2026 (the “Form 10-Q”) by the prescribed due date without unreasonable effort or expense. The Company is experiencing severe liquidity constraints, is reliant on loan funding to support operations, and is actively evaluating and pursuing financing and reorganization alternatives, including preparation for a potential restructuring process. In addition, the Company’s Chief Financial Officer resigned effective February 17, 2026. The departure of the Chief Financial Officer has created incremental operational constraints in completing the quarter-end financial close process and preparing related disclosures and internal review materials necessary to finalize the Form 10-Q. The Company has implemented interim measures to support the financial reporting function while it evaluates leadership and resource needs. The Company is working diligently to complete the remaining financial closing items and to file the Form 10-Q as soon as practicable. The timing of the filing will depend on, among other things, the Company’s ability to obtain sufficient financing or otherwise fund the remaining quarterly financial closing process

The Company is unable to file its Quarterly Report on Form 10-Q for the fiscal quarter ended March 31, 2026 (the “Form 10-Q”) by the prescribed due date without unreasonable effort or expense. The Company is experiencing severe liquidity constraints, is reliant on loan funding to support operations, and is actively evaluating and pursuing financing and reorganization alternatives, including preparation for a potential restructuring process. In addition, the Company’s Chief Financial Officer resigned effective February 17, 2026. The departure of the Chief Financial Officer has created incremental operational constraints in completing the quarter-end financial close process and preparing related disclosures and internal review materials necessary to finalize the Form 10-Q. The Company is implementing interim measures to support the financial reporting function while it evaluates leadership and resource needs. The Company is working diligently to complete the remaining financial closing items and to file the Form 10-Q as soon as practicable. The timing of the filing will depend on, among other things, the Company’s ability to obtain sufficient financing or otherwise fund the remaining quarterly financial closing process. 1

The Company is unable to file its Annual Report on Form 10-K for the fiscal year ended December 31, 2025 (the “Form 10-K”) by the prescribed due date without unreasonable effort or expense. The Company is experiencing severe liquidity constraints, is reliant on loan funding to support operations, and is actively evaluating and pursuing financing and reorganization alternatives, including preparation for a potential restructuring process. The Company’s independent registered public accounting firm, Baker Tilly US, LLP (“Baker Tilly”), has not completed the audit procedures necessary for the Company to finalize the audited financial statements required to be included in the Form 10-K. The delay is primarily due to the Company’s current liquidity constraints and resulting inability, at this time, to fund the remaining external audit work needed to complete the audit and finalize the Form 10-K. In addition, the Company’s Chief Financial Officer resigned effective February 17, 2026. The departure of the Chief Financial Officer has created incremental operational constraints in completing the year-end financial close process, coordinating the remaining audit work, and preparing related disclosures and internal review materials necessary to finalize the Form 10-K. The Company is implementing interim measures to support the financial reporting function while it evaluates leadership and resource needs. The Company is working diligently to complete the remaining financial close and audit items and to file the Form 10-K as soon as practicable. The timing of the filing will depend on, among other things, the Company’s ability to obtain sufficient financing or otherwise fund the remaining external audit work and Baker Tilly’s ability to complete the remaining audit procedures

As a result of the recent transition in audit firms, the Registrant is unable to file, without unreasonable effort and expense, its Quarterly Report on Form. 10-Q for the fiscal quarter ended September 30, 2025, (“Form 10-Q”) by the prescribed filing date. The principal reason for the delay is because our independent register ed public accounting firm, Baker Tilly US, LLP (“Baker Tilly”), has not yet completed certain required activities with our predecessor audit firm in connection with their transition as successor firm in order for them to complete their review of the consolidated financial statements for the fiscal quarter ending September 30, 2025. Without the extension permitted under Rule 12 b-25, the Company believes that it would unable to accomplish the work necessary to properly complete and file the Form 10-Q without unreasonable effort and expense. As previously reported on a Current Report on Form 8-K filed with the Commission on July 16, 2025, the Company appointed Baker Tilly on July 11, 2025, to serve as the Company’s independent registered public accounting firm for the fiscal year ending December 31, 2025, beginning in the fiscal quarter ending September 30, 2025. The Company is working diligently with its new auditor to complete the necessary work and review and the Company expects to file the Form 10-Q within the grace period prescribed by Rule 12b-25 under the Exchange Act

The Registrant is unable to file its Annual Report on Form 10-K for the period ended December 31, 2024 (the “Report”) by the prescribed due date without unreasonable effort or expense, because the Registrant needs additional time to complete certain disclosures within the financial statements to be included in the Report. In accordance with Rule 12b-25 promulgated under the Securities Exchange Act of 1934, as amended, the Registrant intends to file the Report on or prior to the fifteenth (15th) calendar day following the prescribed due date

MSP Recovery, Inc. (the “Company”) is unable to file its Annual Report on Form 10-K for the period ended December 31, 2023 (the “Form 10-K”) within the prescribed time period without unreasonable effort and expense, because management needs additional time to finalize and analyze the disclosures in its Form 10-K. As disclosed in the Company’s Current Report on Form 8-K filed on April 1, 2024, the Company has entered into amendments to certain material agreements with Virage Capital Management, LP and Nomura Securities International, Inc., to extend the maturity dates of these agreements through September 30, 2025, and is in the process of finalizing disclosures in the Form 10-K. The Company currently anticipates that it will file its Form 10-K within the time period proscribed in Rule 12b-25 promulgated under the Securities Exchange Act of 1934

MSP Recovery, Inc. (the “Company”) is unable to file its Annual Report on Form 10-K for the period ended December 31, 2022 (the “Form 10-K”) within the prescribed time period without unreasonable effort and expense, because management needs additional time to finalize and analyze the disclosure in its Form 10-K. The Company is currently negotiating amendments to certain material agreements and evaluating the accounting and related disclosures in the Form 10-K. The Company currently anticipates that it will file its Form 10-K within the time period proscribed in Rule 12b-25 promulgated under the Securities Exchange Act of 1934

Lionheart Acquisition Corporation II (the “Company”) is unable to file its Quarterly Report on Form 10-Q for the period ended March 31, 2022 (the “Quarterly Report”) by the prescribed due date without unreasonable effort or expense due to needing additional time to complete the final review of its financial statements and other disclosures in the Quarterly Report. The Company is working diligently to complete the Quarterly Report and the Company currently expects to file the Quarterly Report within the five-day extension period provided under Rule 12b-25 of the Securities Exchange Act of 1934, as amended

Lionheart Acquisition Corporation II (the “ Company ”) has determined that it is unable, without unreasonable effort or expense, to file its Quarterly Report on Form 10-Q for the fiscal quarter ended March 31, 2021 (the “ Q1 2021 Form 10-Q ”) by the prescribed due date for the reasons described below. On April 12, 2021, the Acting Director of the Division of Corporation Finance and Acting Chief Accountant of the Securities and Exchange Commission (the “ SEC ”) together issued a statement regarding the accounting and reporting considerations for warrants issued by special purpose acquisition companies entitled “Staff Statement on Accounting and Reporting Considerations for Warrants Issued by Special Purpose Acquisition Companies (“SPACs”)” (the “ SEC Guidance ”). Following review of the SEC Guidance, the Company reevaluated the accounting treatment of its (i) 11,500,000 redeemable warrants (the “ Public Warrants ”) that were included in the units issued by the Company in its initial public offering (the “ IPO ”) and (ii) the 325,000 privately issued warrants (together with the Public Warrants, the “ Warrants ”) that were included in the units issued in a private placement that closed concurrently with the closing of the IPO, and determined that the Warrants should be, and should have been, classified as derivative liabilities measured at fair value, with changes in fair value each period reported in earnings. The Company is currently determining the extent of the SEC Guidance’s impact on its financial statements, including the financial statements as of and for the fiscal quarter ended March 31, 2021 included in the Q1 2021 Form 10-Q, and is working diligently to complete the Q1 2021 Form 10-Q as soon as possible