te of 20% of total capital • ACE and BlackRock each expect to acquire 9.9% of the common shares offered, for aggregate of 19.8% sponsor ownership • ABR Holdings intends to pursue an initial public offering (IPO") or listing of its common shares within 3 — 6 years and expects to provide liquidity to investors

or the solicitation of an offer to buy the common shares (the "Common Shares') contemplated to be issued by ABR Reinsurance Capital Holdings Ltd. ("ABR Holdings"), which may only be made by, and is subject to the terms of, the Confidential Private Placement Memorandum, dated on or about January 21. 2015 (the