Kaith Re Ltd. is a Bermuda exempted company and registered as a Class 3 insurer under the Bermuda Insurance Act 1978 and related regulations, as amended (Insurance Act), and a segregated accounts company under the Segregated Accounts Companies Act 2000, as amended (SAC Act), acting in respect of its segregated account designated as “LI Re” (Segregated Account)(Issuer) may from time to time and on any date offer bonds (each a Bond and collectively, the Bonds) pursuant to the Kaith Re Ltd. LI Re Bond Program (Program) under the terms set forth in the Bond Program Term Sheet (Term Sheet) and the applicable term sheet supplement.