NI Holdings, Inc., was incorporated on April 15, 1946 under the laws of North Dakota. NI Holdings, Inc., a North Dakota business corporation, was established to become the shareholding holding company of Nodak Insurance Company. Until the completion of the Offer and Conversion, NI Holdings does not conduct any business and will have no assets or liabilities. As a result of the conversion, NI Holdings will become the holding company for Nodak Insurance Company and its existing subsidiaries.