Ambac Financial Group (OSG) Proxy Filing summary

Executive summary

• Special meeting scheduled for October 16, 2024, to vote on the sale of Ambac Assurance Corporation to American Acorn Corporation, owned by Oaktree Capital Management funds.

• Stockholders are encouraged to vote via Internet, telephone, or mail to ensure their participation.

• The sale is contingent on approval by a majority of outstanding shares entitled to vote.

Voting matters and shareholder proposals

• Proposals include approval of the sale agreement, advisory approval of executive compensation related to the sale, and potential adjournment to solicit more votes if needed.

• Board unanimously recommends voting in favor of all proposals.

Board of directors and corporate governance

• Board of Directors has carefully considered the transaction and is actively soliciting stockholder support.

• Contact information for proxy solicitation assistance is provided.