GREENLIGHT CAPITAL RE, LTD.

We are a global specialty property and casualty reinsurer headquartered in the Cayman Islands, with an underwriting and investment strategy that we believe differentiates us from most of our competitors. Our goal is to build long-term shareholder value by providing risk management solutions to the insurance, reinsurance, and other risk marketplaces.

For the three months ended March 31, 2026 (“Q1 2026”), we had a net income of $35.8 million, compared to $29.6 million over the three months ended March 31, 2025 (“Q1 2025”). The increase was mainly attributable to stronger underwriting performance, partially offset by foreign exchange losses.

The following is a summary of our financial performance for Q1 2026, compared to Q1 2025:

•Gross premiums written was $227.9 million, a decrease of 8.1%;

•Net premiums earned was $154.1 million, a decrease of 8.5%;

•Net underwriting income was $6.2 million, compared to net underwriting loss of $7.8 million;

•Total investment income was $40.4 million, a decrease of 0.2%;

•Diluted EPS was $1.05, compared to $0.86, an increase of 22.1%; and

•Fully diluted book value per share was $21.40, an increase of 4.7% since December 31, 2025.

Fully diluted book value per share is a non-GAAP financial measure. See “Key Financial Measure and Non-GAAP Measures” section of this MD&A.