Herbie Re Ltd.,(the “Issuer”), is a Bermuda exempted company incorporated under the laws of Bermuda on May 8, 2020 and is registered as a Special Purpose Insurer in Bermuda. Its 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 Series 2020-2 Notes will be exposed to Named Storms and Earthquakes affecting the Covered Area

Herbie Re Ltd., US$25,000,000 Series 2020-2 Class C Principal-at-Risk Variable Rate Notes due January 8, 2026; pursuant to the Herbie Re Ltd., PAR VR Note Program;