S&P Affirms Assured Guaranty's AA Financial Strength Ratings with Stable Outlook

Highlights very strong competitive position, well-diversified global underwriting strategy, exceptional liquidity, and capital adequacy above S&P's 'AAA' stress level

Assured Guaranty Ltd. (NYSE:AGO) (AGL, and together with its subsidiaries, Assured Guaranty) announced today that S&P Global Ratings (S&P) has affirmed the AA financial strength, financial enhancement, and issuer credit ratings of Assured Guaranty's insurance subsidiaries and the A issuer credit rating of AGL. The outlooks remain stable.

In its June 30, 2025 research update report, S&P highlighted Assured Guaranty's:

• "robust capital position with a capital adequacy redundancy above S&P's 'AAA' stress level"
• "very strong" competitive position, "excellent" capital and earnings, and "exceptional" liquidity
• "well-diversified global underwriting strategy" that is "dominated by business written in the U.S. public finance market," while its activity in "global structured finance and international local and regional government bonds, as well as infrastructure projects…provides flexibility to capitalize on opportunities in one market when other markets are less favorable"
• "measured approach to business expansion outside the U.S. public finance market"
• management that is "committed to maintaining excellent capital adequacy"

In response to the report, Dominic Frederico, President and CEO of Assured Guaranty, said:

"As S&P wrote in its report, we continue to maintain a robust capital position with capital in excess of S&P's stress level requirement for a AAA rating. We have accomplished this while paying over $6 billion in net claims since 2007 and spending more than $6.5 billion to increase shareholder value through share repurchases and dividends. Additionally, over that period, we also reduced our insured leverage by almost 60%."

Mr. Frederico added, "Having repeatedly proven the strength and resilience of our business model, we believe we are in an excellent position to continue to lead the U.S. municipal bond insurance market while further expanding and diversifying our global infrastructure and structured finance reach."

Cautionary Statement Regarding Forward-Looking Statements

Any forward-looking statements made in this press release, including those regarding growth opportunities for Assured Guaranty, demand for its product, and the strength of Assured Guaranty's capital position, reflect Assured Guaranty's current views with respect to future events and are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. Such statements involve risks and uncertainties that may cause actual results to differ materially from those set forth in these statements. These risks and uncertainties include, but are not limited to, difficulties executing Assured Guaranty's business strategy; those risks and uncertainties resulting from changes in rating agency models or opinions; the adequacy of Assured Guaranty's capital and its ability to manage such capital; Assured Guaranty's positioning for future global underwriting growth, unearned premiums, earnings power and financial strength; difficulties producing and sustaining new business; the benefits of Assured Guaranty's value proposition; adverse credit developments in Assured Guaranty's insured portfolio and the impact of those developments on rating agency models and opinions; insured losses in excess of those expected by Assured Guaranty or the failure of Assured Guaranty to realize loss recoveries that are assumed in its expected loss estimates for insurance exposures; other risks and uncertainties that have not been identified at this time, management's response to these factors, and other risk factors identified in Assured Guaranty's filings with the Securities and Exchange Commission. Readers are cautioned not to place undue reliance on these forward-looking statements, which are made as of July 2, 2025. Assured Guaranty undertakes no obligation to publicly update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, except as required by law.

About Assured Guaranty Ltd.

Assured Guaranty Ltd. is a publicly traded (NYSE:AGO), Bermuda-based holding company. Through its subsidiaries, Assured Guaranty provides credit enhancement products to the U.S. and non-U.S. public finance, infrastructure and structured finance markets. Assured Guaranty also participates in the asset management business through its ownership interest in Sound Point Capital Management, LP and certain of its investment management affiliates. More information on Assured Guaranty Ltd. and its subsidiaries can be found at AssuredGuaranty.com.

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