Canon’s Court, 22 Victoria Street, Hamilton HM 12, Bermuda

Operational Re IV Ltd., (the “Issuer”)is a Bermuda exempted company to be registered prior to the Issuance Date as a special purpose insurer under the Insurance Act. The Issuer is not, and does not intend to become, a licensed insurance or reinsurance company in any State of the United States or in any jurisdiction other than Bermuda. The Issuer was incorporated under the laws of Bermuda on November 19, 2019 with registration number 55092. All of its issued share capital (one share of par value US$1.00) is held in trust for charitable or similar purposes by the Share Trustee pursuant to the terms of the Bermuda Trust Deed. The Share Trustee has no beneficial interest and derives no benefit from its holding of the one share.


Operational Re IV Ltd., US$54,500,000 Reg S Class A Principal At-Risk Variable Rate Notes due January 12, 2026;




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