Merna Re II Ltd., is a Bermuda exempted company, Registration No. 54404, incorporated under the laws of Bermuda on 25 February 2019 and registered as a Special Purpose Insurer in Bermuda effective 4 March 2019. Its issued shares are held pursuant to the terms of the Merna Multi-Purpose Trust by Conyers Trust Company (Bermuda) Limited as share trustee (the “Share Trustee”). The business of the Issuer will consist solely of the issuance of the Notes under the Program, and the entering into and performance of Reinsurance Agreements and related agreements and activities as applicable.

Merna Re II Ltd., US$200,000,000 Series 2023-2 Class A Principal-At-Risk Variable Rate Notes due July 7, 2026 (the "Series 2023-1 Notes") pursuant to its Program.