ASSURED GUARANTY LTD

The preparation of financial statements in accordance with GAAP requires the application of accounting policies that often involve a significant degree of judgment and require the Company to make estimates and assumptions, based on available information, that affect the amounts of assets, liabilities, revenues and expenses reported in the condensed consolidated financial statements. Estimates are inherently subject to change and actual results could differ from those estimates, and the differences may be material to the condensed consolidated financial statements.

Critical estimates and assumptions are periodically evaluated based on historical developments, market conditions, industry trends and other information that is reasonable under the circumstances. There can be no assurance that actual results will conform to estimates and assumptions and that reported results of operations will not be materially different in the future due to changes in these estimates and assumptions.

Listed below are the accounting estimates that the Company believes are most dependent on the application of judgment and assumptions.

•Expected loss to be paid (recovered);

•Liabilities for future policy benefits;

•Acquisition date fair values of Assured Life Re’s assets and liabilities;

•Fair value of certain assets and liabilities, primarily:

•Investments (primarily alternative investments)

•Assets and liabilities of FG VIEs;

•Impairments of equity method investments and credit allowances for financial instruments; and

•Income tax assets and liabilities, including the recoverability of all deferred tax assets (liabilities) and in particular the Bermuda deferred tax asset recorded in 2023.

See Part II, Item 8, Financial Statements and Supplementary Data, Note 1, Business and Basis of Presentation, of the Company’s 2025 Annual Report on Form 10-K for the Company’s significant accounting policies which includes a reference to the applicable note where further details regarding the significant estimates and assumptions are provided, as well as Part II, Item 7A, Quantitative and Qualitative Disclosures About Market Risk, of the Company’s 2025 Annual Report on Form 10-K for further details regarding the sensitivity analyses. In addition, see Item 1. Financial Statements, Note 2. Assured Life Re Acquisition and Note 7. Annuity Reinsurance for further details regarding the significant estimates and assumptions, as well as Item 3, Quantitative and Qualitative Disclosures About Market Risk, for further details regarding the sensitivity analyses related to Assured Life Re.