Assured Guaranty (AGO) investor relations material

Executive summary

• Achieved record highs in shareholders' equity per share, adjusted operating equity per share, and adjusted book value per share in 2025, with GAAP net income per share up 49% and adjusted operating income per share up 28% over the prior year.

• Insured $33 billion of par in 2025, the highest in over a decade, and streamlined U.S. public finance secondary market insurance, resulting in a 450% year-over-year increase in GWP and PVP in that segment.

• Repurchased 5.8 million common shares (11.5% of outstanding shares) and returned $569 million to shareholders through buybacks and dividends.

• Launched a new annuity reinsurance platform in January 2026 to diversify revenue streams and support future growth.

Voting matters and shareholder proposals

• Shareholders will vote on the election of directors, advisory approval of executive compensation, appointment of PricewaterhouseCoopers LLP as independent auditor, and direction to vote for directors and auditor of a key subsidiary.

• Board recommends voting for all director nominees, executive compensation, auditor appointment, and subsidiary proposals.

Board of directors and corporate governance

• Board comprises a substantial majority of independent directors, with all Audit, Compensation, and Nominating and Governance Committee members being independent.

• Board committees include Audit, Compensation, Environmental and Social Responsibility, Finance, Nominating and Governance, Risk Oversight, and Executive Committees.

• Directors are nominated based on diverse skills, experience, and backgrounds, with annual self-evaluations and robust nomination processes.

• Non-executive directors receive a mix of cash and restricted shares, with strong share ownership guidelines and periodic compensation reviews.