Kane SAC Limited is a Bermuda exempted company incorporated in Bermuda on 2 July 1981 and registered as a Class 3 insurer and as a Class C insurer under the Insurance Act 1978, as amended and registered as a segregated accounts company under the Segregated Accounts Companies Act 2000 on 5 April 2005.

These Notes were  issued on 14 January, 2015 and are  in the form described in the Prospectus Supplement dated 5 January, 2015 and linked to the segregated account establish by the Issuer and designated as “Hereford Segregated Account”.  The business of the Issuer acting in respect of the Segregated Account consists solely of activities related to the issuance of the Hereford Segregated Account At-Risk Notes and the performance of its obligations under its reinsurance agreement.