CATCo Reinsurance Opportunities Fund Ltd. – Share Buyback

04 December 2019

Hamilton, Bermuda–: 04 December 2019 – In a filing with the Bermuda Stock Exchange CATCo Reinsurance Opportunities Fund Ltd. (the "Company”; Ticker: CAT.BH), announces share buybacks. The full filing stated:

CATCo Reinsurance Opportunities Fund Ltd. (the “Company")

Share buyback

To: Specialist Fund Segment, London Stock Exchange and Bermuda Stock Exchange

Date: 4 December 2019

On 3 December 2019, the Company bought back 125,000 Ordinary Shares and 115,000 C Shares in the market, at an average price of, respectively, USD 0.20 and USD 0.33 per share.

Following this share purchase, these shares will subsequently be cancelled.

From 3 December 2019 the total number of shares in the Company is 755,797,422, consisting of 309,863,860 Ordinary Shares and 445,933,562 C Shares, and the total number of voting rights in the Company is 755,797,422.

For further information:

Markel CATCo Investment Management Ltd.

Judith Wynne

General Counsel

Telephone: +1 441 493 9005

Email: judith.wynne@markelcatco.com

Mark Way

Chief of Investor Marketing

Telephone: +1 441 493 9001

Email: mark.way@markelcatco.com

Numis Securities Limited

David Benda / Hugh Jonathan

Telephone: +44 (0) 20 7260 1000