Risk Factors Update Summary

• The company expanded its investments in Sound Point by allocating $1 billion, increasing credit, interest rate, and liquidity risks.
• The Company expects to report certain investments on a one-quarter lag, potentially delaying financial reporting.
• The company may face adverse tax consequences due to Bermuda's new corporate income tax starting in 2025.
• The Company now includes alternative investments in its financial reporting, increasing reporting complexity.
• The company's ownership interest in Sound Point, valued at $429 million, is subject to risks affecting financial condition.
• The Company now accounts for additional funds and vehicles in its financial statements, enhancing transparency.
• The company's asset management segment now includes Sound Point, exposing it to competitive risks and potential loss of investment opportunities.
• The company's exposure to alternative investments may not yield anticipated benefits and could be less liquid.
• The company's asset management business faces risks from key personnel departures and regulatory actions.
• The company's reliance on information technology systems exposes it to cybersecurity threats and data privacy breaches.