Everglades Re II Ltd., is a Bermuda exempted company licensed and registered as a special purpose insurer under the Bermuda Insurance Act 1978 and related regulations, each as amended. The Notes are exposed to first and subsequent Named Storms affecting the Subject Business in the Covered Territory on an annual aggregate basis.

Everglades Re II Ltd., US$110,000,000 Series 2020-2 Class A Principal-at-Risk Variable Rate Notes Due May 4, 2023; pursuant to the Everglades Re II Ltd., Principal At-Risk Variable Rate Note Program.