SiriusPoint Ltd. Floating Rate Callable Subordinated Notes due 2047

HAMILTON, Bermuda, August 22, 2022 - SiriusPoint Ltd. ("SiriusPoint" or the "Company") (NYSE:SPNT) today announced that it is informing market participants of management's initial decision not to exercise its optional redemption, at the first call date, September 22, 2022, for the Company's floating rate callable subordinated notes denominated in Swedish kronor in the amount of SEK 2,750.0 million (ISIN: XS1683455429) (the "SEK Subordinated Notes"). The SEK Subordinated Notes are Tier 2 Ancillary capital under the capital adequacy requirements of the Bermuda Monetary Authority and continue to retain intermediate equity credit from S&P. The SEK Subordinated Notes are listed on the Euronext Dublin exchange. The Company's decision reflects management's assessment of the SEK Subordinated Notes (including as existing regulatory capital, rating agency capital and funding), the Company's strategic priorities, and economic considerations including current market conditions. The Company has a presence in the global capital markets and continues to assess its financing alternatives.

The Company continues to have the option to redeem the SEK Subordinated Notes at a later date, subject to approval by the Bermuda Monetary Authority and the satisfaction of certain other conditions, as set forth in the relevant indenture.

SiriusPoint is currently assigned an 'A-' insurer financial strength rating and a 'BBB' long-term issuer credit rating by S&P Global Ratings ("S&P"). The Company continues to maintain strong capital positions, including a redundancy above the 'AA' confidence interval per S&P's risk-based capital model. In addition, the Company's group regulatory capital ratio at year-end 2021 was 200%.

Safe Harbor Statement Regarding Forward-Looking Statements

This press release includes "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995, including statements regarding the Company's capital position and financing opportunities. Forward-looking statements are subject to known and unknown risks and uncertainties, many of which may be beyond the Company's control. The Company cautions you that the forward-looking information presented in this press release is not a guarantee of future events, and that actual events may differ materially from those made in or suggested by the forward-looking information contained in this press release. In addition, forward-looking statements generally can be identified by the use of forward-looking terminology such as "may," "plan," "seek," "will," "expect," "intend," "estimate," "anticipate," "believe" or "continue" or the negative thereof or variations thereon or similar terminology. Actual events, results and outcomes may differ materially from the Company's expectations due to a variety of known and unknown risks, uncertainties and other factors. Information concerning risks and factors that could cause actual outcomes and results to differ materially from those expressed in the forward-looking statements is listed under "Risk Factors" of the Company's most recent Annual Report on Form 10-K, as updated by the Company's Quarterly Report on Form 10-Q for the quarter ended June 30, 2022, and other subsequent periodic reports filed with the Securities and Exchange Commission. All forward-looking statements speak only as of the date made and the Company undertakes no obligation to update or revise publicly any forward-looking statements, whether as a result of new information, future events or otherwise, except as required by law.

About the Company

SiriusPoint is a global insurer and reinsurer providing solutions to clients and brokers in almost 150 countries. Bermuda-headquartered with offices in New York, London, Stockholm and other locations around the world, we are listed on the New York Stock Exchange (SPNT). We have licenses to write Property & Casualty and Accident & Health insurance and reinsurance globally. Our offering and distribution capabilities are strengthened by a portfolio of strategic partnerships with Managing General Agents and technology driven insurance services companies within our Insurance & Services division. With over $3 billion total capital, SiriusPoint's operating companies have a financial strength rating of A- (Excellent) from AM Best, S&P and Fitch. For more information please visit www.siriuspt.com.

Investor Relations

Clare Kerrigan - SVP, Head of IR, External Marketing & Communications

[email protected]

+1 441 542-3333

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SiriusPoint Ltd. published this content on 22 August 2022 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 22 August 2022 13:07:42 UTC.