Akibare Re Pte. Ltd., (the “Issuer”); is a special purpose reinsurance vehicle incorporated in Singapore (with company registration number: 202005034M) with its registered office at 2 Shenton Way, SGX Centre 1, #26-01 Singapore 068804, as defined in the Insurance (General Provisions and Exemptions for Special Purpose Reinsurance Vehicles) Regulations 2018, licensed under section 8 of the Singapore Insurance Act (Chapter 142), each as may be amended from time to time (the “Insurance Act”). The Issuer was incorporated under the laws of Singapore on February 12, 2020. The Series 2020-1 Notes will be exposed to Typhoon Events and Flood Events affecting the Covered Area on a per occurrence basis during the Risk Period, as more fully described herein.

Akibare Re Pte. Ltd., US$100,000,000 Series 2020-1 Class A Principal At-Risk Variable Rate Notes due April 7, 2024;