Winston Re Ltd., is a Bermuda exempted company limited by shares to be registered as a special purpose insurer under the Insurance Act 1978 of Bermuda and related rules and regulations, each as amended (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 January 9, 2024 with registration number 202403156.

Winston Re Ltd. - US$150,000,000 - Series 2024-1 Class B Principal At-Risk Variable Rate Notes due February 26, 2027