Risk Factors Update Summary

• Ongoing conflicts in Russia-Ukraine and the Middle East increase global economic uncertainty.
• Implementation of the Bermuda CIT may impose a 15% corporate income tax on entities with consolidated revenues over €750 million. This could impact our subsidiaries organized in Bermuda.
• Heightened geopolitical risks may lead to significant market disruptions, impacting financial operations.
• The Inflation Reduction Act of 2022 introduces a 15% minimum corporate income tax (CAMT) and an excise tax on stock repurchases.
• Increased regulatory scrutiny on ESG factors may affect capital raising and investor attraction.
• The Base Erosion and Anti-Abuse Tax (BEAT) may result in increased complexity and tax implications for our business, potentially leading to additional taxes, interest, and penalties.
• New technologies like AI pose risks of data theft and misuse, impacting business operations.
• Changes in tax laws could impact the tax-favored status of retirement services products, affecting sales and investment income.
• Changes in tax laws and regulations may lead to unforeseen adverse tax consequences.
• The Anti-Tax Avoidance Directives (ATAD I and ATAD II) could subject investments to double taxation, impacting investment returns.
• Enhanced cybersecurity measures are needed due to evolving technologies and potential breaches.
• The issuance of 28,750,000 shares of Mandatory Convertible Preferred Stock with a dividend rate of 6.75% per annum may affect dividend payments and dilute common stock value.
• Expansion into new markets exposes the company to additional complexity, litigation, and regulatory risks.