Ursa Re Ltd. is a Bermuda exempted company incorporated on 25 September 2014 with registration number 49528 and with registered office address at Canon’s Court, 22 Victoria Street, Hamilton HM 12, Bermuda.  The Issuer was registered as a Special Purpose Insurer under a license issued by the Bermuda Monetary Authority on 4 November 2014.

The specific terms of each Series of Notes, and the Class, or Classes, comprised by such Series, are as set forth in the applicable Offering Circular Supplement and may differ from those of other Series or Classes of Notes.  Each Class within a Series of Notes may be exposed to the same risks or different risks, as specified in the applicable Offering Circular Supplement.

All of the proceeds paid to the Issuer from the sale of each Class within a Series of Notes will be deposited into a separate Collateral Account and will be available to satisfy the obligations of the Issuer to the Ceding Insurer under the related Reinsurance Agreement.