Herbie Re Ltd.,(the “Issuer”), is a Bermuda exempted company incorporated under the laws ofand is registered as a Special Purpose Insurer in Bermuda -Registration Number 55571. It’s issued shares are held pursuant to the terms of the   Herbie Re Ltd. Purpose Trust by Conyers Trust Company (Bermuda) Limited as share trustee (the “Share Trustee”). The business of the Issuer will consist solely of the issuance of the Notes under the Program, and the entering into and performance of Retrocession Agreements and related agreements and activities as applicable.

Herbie Re Ltd., Principal-at-Risk Variable Rate Note Program;