Equity Investor Presentation Year-to-Date through September 30, 2025 Forward-Looking Statements and Safe Harbor Disclosure 2 ASSURED GUARANTY LTD. • This presentation contains information that includes or is based upon forward looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Forward looking statements give the expectations or forecasts of future events of Assured Guaranty Ltd. (AGL) and its subsidiaries (collectively with AGL, Assured Guaranty or the Company). T ...

Financial Highlights - Adjusted operating income was $50 million, or $1.01 per share, for the second quarter of 2025[9] - The company insured $10 billion of new business par in the second quarter of 2025, the largest second-quarter amount in a decade[9] - The company generated $64 million of new business production (PVP) in the second quarter of 2025[9] - Pretax adjusted operating income from asset management was $5 million in the second quarter of 2025[9] - Pretax adjusted operating income from the alternative investment portfolio was $16 million in the second quarter of 2025[9] - Capital returned to shareholders in the second quarter of 2025 was $150 million, including share repurchases of $131 million (1.5 million shares) and dividends of $19 million[9] - Adjusted operating income was $212 million, or $4.21 per share, in the first half of 2025, a 23% increase compared to the first half of 2024[11] - The company insured $15 billion of new business par in the first half of 2025, the largest amount of first-half par insured in a decade[15] - The company generated $103 million of PVP in the first half of 2025[15] - The company repurchased nearly 3 million shares at a total cost of $251 million in the first half of 2025, representing nearly 6% of shares outstanding on December 31, 2024[15]

Financial Highlights - As of March 31, 2025, Assured Guaranty's net par outstanding was $2636 billion[8] - The company's total investment portfolio and cash amounted to $88 billion[8] - Claims-paying resources totaled $103 billion as of March 31, 2025[8, 10] New Business Activity (Q1 2025) - Assured Guaranty insured $5 billion of aggregate par[49] - The company generated $39 million of aggregate PVP[51] - The average premium rate (PVP to gross par written) was 078%[51] U S Public Finance (Q1 2025) - U S public finance insured $4 billion of total par[55] - U S public finance PVP was $25 million[55] - Assured Guaranty insured 64% of par of all primary insured deals[55] Alternative Investments - As of March 31, 2025, the value of alternative investments was $892 million[73] - The inception-to-date return on alternative investments was 13%[73] Insured Portfolio - BIG (Below Investment Grade) exposure is $95 billion, representing 36% of the total net par outstanding[91, 95]

Financial Highlights - Adjusted operating income was $389 million ($7.10 per share) for the full year 2024[19], and $66 million ($1.27 per share) for the fourth quarter[16] - Shareholders' equity attributable to AGL, adjusted operating shareholders' equity and adjusted book value reached record highs of $108.80, $114.75 and $170.12 per share, respectively[16] - Alternative investments portfolio increased to a fair value of approximately $884 million[14] - The company repurchased over 6 million shares at a total cost of $502 million, representing 11% of shares outstanding on December 31, 2023[25] Insurance Business - The company insured $32 billion of new business par in 2024, the largest amount in a decade[24, 29] - New business production (PVP) generated $402 million in 2024, exceeding $400 million for the second consecutive year[24] - U S public finance PVP in 2024 was 27% higher than in 2023[31] - The average premium rate (PVP to gross par written) was 126% in 2024[31] Portfolio Overview - Insured net par outstanding was $2616 billion as of December 31, 2024, with $2012 billion in U S public finance, $492 billion in non-U S public finance, and $112 billion in global structured finance[40] - Claims-paying resources totaled $102 billion[40] - BIG (below investment grade) exposure was $102 billion, representing 39% of total net par outstanding[150]