The nominal market capitalization of the Notes is US$125,000,000 being the total face value of the Series 2013-1 Notes is issued under the Tradewynd Re Ltd. Principal-at-Risk Variable Rate Note Program and are exposed to loss events on a per occurrence basis, as specified in the Circular. The Series 2013-1 Class 1 Notes are subject to extension at the election of the Ceding Insurer, as described in the Circular.

The Notes will each be issued in minimum denominations of $250,000 and integral multiples of $1,000 in excess thereof.