CATCo Regulatory News (CAT)

27 April 2020

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

Adaptation of Annual General Meeting of Shareholders on 21 May 2020 due to COVID-19

The Board of Directors of the Company has adapted the way in which the Annual General Meeting of Shareholders (the "AGM") shall be held on 21 May 2020. These changes are related to the measures imposed by the Bermuda government to reduce the evolving outbreak of COVID-19 (coronavirus) which include the current restrictions on public gatherings and all but essential travel beyond the home (the "Public Gathering Restrictions"), and in view of the health of all directly involved in the AGM.

In order to ensure that any Shareholders wishing to attend the AGM may safely do so in compliance with the Public Gathering Restrictions, it has been decided that all persons attending the Shareholder meetings may only do so telephonically, as is permitted by the Company's Bye-Laws.

Shareholders and investors should note that the AGM will be functional and will not include a presentation from the Investment Manager.

Any Shareholder or proxy appointed by a Shareholder who wishes to attend the AGM is requested to contact Judith Wynne, General Counsel, Markel CATCo Investment Management Ltd. (the "Investment Manager") (whose contact details appear below) in order to obtain details of how to join the teleconference. Such Shareholders or proxies are requested to provide details of their registered shareholding or proxy appointment in order that their entitlement to attend may be verified.

Any Depository Interest holder who wishes to join the AGM is requested first to follow the instructions set out in Note 9 of the notes accompanying the Notice of AGM dated 23 March 2020, which appear on pages 46 to 48 of the Company's Annual Report 2019. This may be found on the Company's website at http://www.catcoreoppsfund.com/documents/reports/annual/2019-12-31_annual.pdf. Any such Depository Interest holder is then requested to contact Judith Wynne as set out in the immediately preceding paragraph.

As is normally the case, Shareholders who have already submitted their proxy votes appointing the chairman of the AGM to vote on their behalf in accordance with their instructions do not need to attend the AGM in order to have their votes exercised, unless they wish to ask questions. Additionally, Shareholders and Depository Interest Holders can direct any questions they may have to investorservices@markelcatco.com.

The Board would encourage all Shareholders and Depository Interest Holders in the strongest possible terms to use their Form of Proxy or Form of Direction, as relevant, and appoint the chairman of the AGM as their proxy. This will allow their votes to count. Shareholders and Depository Interest Holders should also be aware that, in relation to the printed Form of Proxy and Form of Direction, many mail services are likely to experience a reduction in service levels during the COVID-19 pandemic. Accordingly, in order to ensure that Shareholders' votes on the resolutions to be proposed at the AGM are registered and counted, the Board recommends that, if possible, voting by proxy should be undertaken, for eligible Shareholders, through the CREST system.

The Investment Manager and the Company are monitoring the developments with respect to COVID-19 measures closely and shall take additional measures when necessary. All information regarding the AGM can be found in the Annual Report 2019 issued by the Company on 23 March 2020 (which appears on the Company's website at http://www.catcoreoppsfund.com/documents/reports/annual/2019-12-31_annual.pdf. The Notice of AGM dated 23 March 2020, and the accompanying notes thereto, should be construed in light of this announcement and the Public Gathering Restrictions.