Baldwin Re Ltd., is a Bermuda exempted company incorporated under the laws of Bermuda on May 19, 2021 and is registered as a Special Purpose Insurer in Bermuda effective May 27, 2021.

Baldwin Re Ltd., US$150,000,000 Series 2021-1 Class A Principal-at-Risk Variable Rate Notes due July 7, 2025 (the “Series 2021-1 Notes”) pursuant to the Applicant’s Program.