RENAISSANCERE HOLDINGS LTD

We monitor our capital adequacy on a regular basis and seek to adjust our capital according to the needs of our business. In particular, we require capital sufficient to meet or exceed the capital adequacy ratios established by rating agencies for maintenance of appropriate financial strength ratings, the capital adequacy tests performed by regulatory authorities and the capital requirements under our credit facilities. From time to time, rating agencies may make changes in their capital models and rating methodologies, which could increase the amount of capital required to support our ratings. We may seek to raise additional capital or return capital to our shareholders through common share repurchases and cash dividends (or a combination of such methods). In the normal course of our operations, we may from time to time evaluate additional share or debt issuances given prevailing market conditions and capital management strategies, including for our operating subsidiaries, joint ventures and managed funds. In addition, as noted above, we enter into agreements with financial institutions to obtain letter of credit facilities for the benefit of our operating subsidiaries and certain of our joint ventures and managed funds in their reinsurance and insurance business.

Our total shareholders’ equity attributable to RenaissanceRe and total debt was as follows:

(1)RenaissanceRe owns a noncontrolling economic interest in its joint venture Fontana. Because RenaissanceRe controls a majority of Fontana’s issued voting shares, the consolidated financial statements of Fontana are included in the consolidated financial statements of RenaissanceRe. RenaissanceRe has not provided any financial or other support to Fontana that it was not contractually required to provide. RenaissanceRe’s financial exposure to Fontana is limited to its investment in Fontana’s shares and counterparty credit risk arising from reinsurance transactions.

(2)RenaissanceRe owns a noncontrolling economic interest in its joint venture DaVinci. Because RenaissanceRe controls a majority of DaVinci’s issued voting shares, the consolidated financial statements of DaVinci are included in the consolidated financial statements of RenaissanceRe. However, RenaissanceRe does not guarantee or provide credit support for DaVinci and RenaissanceRe’s financial exposure to DaVinci is limited to its investment in DaVinci’s shares and counterparty credit risk arising from reinsurance transactions.

Our total shareholders’ equity attributable to RenaissanceRe increased by $211.6 million during the six months ended June 30, 2026 principally as a result of:

•our comprehensive income attributable to RenaissanceRe of $956.0 million; partially offset by

•repurchase of common shares at an aggregate cost of $702.5 million; and

•dividends on our common and preference shares of $34.5 million and $17.7 million, respectively.

For additional information related to the terms of our debt and significant credit facilities, see “Note 7. Debt and Credit Facilities” in our “Notes to the Consolidated Financial Statements” in this Form 10-Q and “Note 9. Debt and Credit Facilities” in our “Notes to the Consolidated Financial Statements” in our Form 10-K for the year ended December 31, 2025. See “Note 10. Shareholders’ Equity” in our “Notes to the Consolidated Financial Statements” in this Form 10-Q and “Note 12. Shareholders’ Equity” in our “Notes to the Consolidated Financial Statements” in our Form 10-K for the year ended December 31, 2025 for additional information related to our common and preference shares.