Bonanza Re Ltd. (the “Issuer”), is a Bermuda exempted company incorporated on 3 November 2016 with registration number 51990 and registered office address at Canon’s Court, 22 Victoria Street, Hamilton HM 12, Bermuda.

The Notes are exposed to the perils of Named Storm and Severe Thunderstorm in the “Covered Area.” The purpose for issuing each Class within a Series of Notes is to collateralize and fund the obligations of the Issuer under the respective Reinsurance Agreements pursuant to which it will provide the Ceding Insurer with a source of multi-year excess of loss reinsurance.

Bonanza Re Ltd. - US$125,000,000 - Series 2025-1 Class A PAR VR Notes due January 8, 2027