Acorn Re Ltd., is a Bermuda exempted company incorporated on April 21, 2015 under the laws of Bermuda.  Its registered office is Clarendon House, 2 Church Street, Hamilton, HM 11, Bermuda and its principal office is c/o Marsh IAS Management Services (Bermuda) Ltd.,Victoria Hall, 11 Victoria Street, Hamilton, HM 11, Bermuda.

The US$300,000,000 Series 2015-1 Class A Principal At-Risk Variable Rate Notes due July 17, 2018 (the “Notes”) which are exposed to loss events as specified in the Confidential Offering Circular and Confidential Offering Circular Supplement No. 1, persuant to theAcorn Re Ltd. Principal At-Risk Variable Rate Note Program. The Notes are exposed to Earthquakes on a per occurrence basis during the Risk Period.