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EX-21.01 5 bh-20241231xexx2101.htm EX-21.01 Biglari Holdings Inc - Subsidiaries of the Company.

Exhibit 21.01

BIGLARI HOLDINGS INC.


SubsidiariesJurisdiction of Incorporation or Organization
Abraxas Petroleum CorporationNevada
Biglari Reinsurance Ltd.Bermuda
First Guard Insurance CompanyArizona
Maxim Inc.Delaware
Steak n Shake Inc.Indiana
Southern Oil CompanyDelaware
Southern Pioneer Property & Casualty Insurance CompanyArkansas
Western Sizzlin CorporationDelaware


Each of the named subsidiaries is not necessarily a “significant subsidiary” as defined in Rule 1-02(w) of Regulation S-X, and Biglari Holdings Inc. has several additional subsidiaries not named above. The unnamed subsidiaries, considered in the aggregate as a single subsidiary, would not constitute a “significant subsidiary” at the end of the year covered by this report.