Windrose Re Ltd. (the “Issuer”), is a Bermuda exempted company limited by shares registered as a special purpose insurer under the Insurance Act 1978 and related regulations, each as amended (the “Insurance Act 1978”). The Issuer is not, and does not intend to become, a licensed insurance or reinsurance company in any State of the United States or in any jurisdiction other than Bermuda. The Issuer was incorporated under the laws of Bermuda on December 12, 2025 with registration number 202505422.

Windrose Re Ltd Principal At-Risk Variable Rate Note Program