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 September 30, 2026 (“Q3 2026”), we reported a net income of $3.2 million, compared to $4.4 million net loss for the three months ended September 30, 2025 (“Q3 2025”). The improved results were primarily driven by the lower net investment losses, partially offset by a decline in net underwriting income.

The following is a summary of our financial performance for Q3 2026, compared to Q3 2025:

•Gross premiums written was $181.9 million, a decrease of 1.4%;

•Net premiums earned was $153.4 million, a decrease of 7.2%;

•Net underwriting income was $14.6 million, compared to $22.3 million;

•Total investment loss was $4.6 million, compared to loss of $17.4 million;

•Diluted EPS was $0.10, compared to diluted EPS loss of $0.13; and

•Fully diluted book value per share was $20.78, an increase of 0.8% since last quarter.

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.