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AmTrust at Lloyd's Limited

Managing Agent Name: AmTrust at Lloyd’s Limited

Subject: AmTrust Corporate Capital Limited: Mandatory offer

Syndicate(s) Affected: 2526

Mandatory offer

AmTrust at Lloyd's Limited (the “Managing Agent”) today announces that a formal offer (the “Offer”) has been made by AmTrust Corporate Capital Limited (“ACCL”), a connected company of the Managing Agent, to all non-aligned members of Syndicate 2526 (the “Syndicate”) for the 2015 year of account to acquire all of the Syndicate capacity for the 2016 and each subsequent year of account that it does not already own.

The Offer is being made solely in order to fulfil the Managing Agent’s obligation under the Mandatory Offer Byelaw (No. 5 of 1999) for a mandatory offer to be made to all other persons who, at the time the offer is made, are entitled to make a participation nomination and/or second nomination in respect of Syndicate 2526.

ACCL provides 99.53% (being £63,834,000 out of the total of £64,138,490) of Syndicate capacity for the 2015 year of account. Pursuant to the terms of the Offer, it has offered to acquire the remaining 0.47% (being £304,490) for a price of 3p in cash for each £1 of capacity. The Offer will remain open for acceptances until 22 September 2015.

Full details of the Offer are set out in an offer document which was issued and dispatched, in accordance with the Capacity Offer Rules, on 24 August 2015.

This announcement has been prepared in accordance with Lloyd’s requirements. AmTrust Corporate Capital Limited has confirmed to Lloyd’s that this announcement complies with the Capacity Offer Rules. This announcement has not been approved by Lloyd’s.

This announcement is issued by AmTrust at Lloyd's Limited of 1 Great Tower Street, London EC3R 5AA, which is authorised by the Prudential Regulation Authority and regulated by the Financial Conduct Authority and the Prudential Regulation Authority.

This announcement relates to an unlimited cash offer for capacity on Syndicate 2526 which is being made by AmTrust Corporate Capital Limited. AmTrust Corporate Capital Limited has not reserved the right to make the offer an increasing or reducing offer.

AmTrust at Lloyd's Limited is the managing agent of the Syndicate and is therefore interested in the Offer.

Any person who is considering whether or not to accept the Offer should read carefully the offer document and the risk factors set out therein. Copies of the offer document (and any revised offer document which may be issued), and of the 2016 syndicate business forecast for the Syndicate, can be obtained from AmTrust at Lloyd's Limited at 1 Great Tower Street, London EC3R 5AA.

This announcement does not constitute a solicitation, invitation or offer to persons in any jurisdiction where a solicitation, invitation or offer could be contrary to law.

Date issued: 25 August 2015

Contact Information

Agency contact name: Donal Barrett

Agency contact no: + 44 (0) 20 3003 6912

For auction office use only: D2015003

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