CATCo Reinsurance Opportunities Fund Ltd. – Share Buyback

03 December 2019

Hamilton, Bermuda–: 03 December 2019 – In a filing with the Bermuda Stock Exchange CATCo Reinsurance Opportunities Fund Ltd. (the "Company”; Ticker: CAT.BH), announces share buybacks. The full filing stated:

CATCo Reinsurance Opportunities Fund Ltd. (the “Company")

Share buyback

To: Specialist Fund Segment, London Stock Exchange and Bermuda Stock Exchange

Date: 2 December 2019

On 2 December 2019, the Company bought back 242,092 Ordinary Shares in the market, at an average price of USD 0.20 per share.

Following this share purchase, these shares will subsequently be cancelled.

From 2 December 2019 the total number of shares in the Company is 756,037,422, consisting of 309,998,860 Ordinary Shares and 446,048,562 C Shares, and the total number of voting rights in the Company is 756,037,422.

For further information:

Markel CATCo Investment Management Ltd.

Judith Wynne

General Counsel

Telephone: +1 441 493 9005

Email: judith.wynne@markelcatco.com

Mark Way

Chief of Investor Marketing

Telephone: +1 441 493 9001

Email: mark.way@markelcatco.com

Numis Securities Limited

David Benda / Hugh Jonathan

Telephone: +44 (0) 20 7260 1000