On August 19, 2020, Enstar Group Limited ("the Company”) and its wholly-owned subsidiary, Enstar Finance LLC (“Enstar Finance”), entered into an Underwriting Agreement (the “Underwriting Agreement”) with Wells Fargo Securities, LLC, Barclays Capital Inc., HSBC Securities (USA) Inc. and J.P. Morgan Securities LLC, as representatives of the several underwriters named therein, for the issuance and sale of $350 million aggregate principal amount of 5.75% Fixed-Rate Reset Junior Subordinated Notes due 2040 (the “Junior Subordinated Notes”). The Junior Subordinated Notes will be issued by Enstar Finance and fully and unconditionally guaranteed, on a junior subordinated basis, by the Company. The sale of the Junior Subordinated Notes has been registered under the Securities Act of 1933, as amended (the “Securities Act”), pursuant to an automatic shelf registration statement (the “Registration Statement”) on Form S-3 (File Nos. 333-247995 and 333-247995-01) filed with the Securities and Exchange Commission on August 17, 2020.