OCTAVE SPECIALTY GROUP INC

Octave Specialty Group, Inc. ("OSG"), headquartered in New York City, is a financial services holding company incorporated in Delaware on April 29, 1991. Formerly known as Ambac Financial Group, Inc. ("AFG"), the company rebranded as OSG in the fourth quarter of 2025 following the sale of its Legacy Financial Guarantee business. Octave operates two principal businesses: Insurance Distribution and Specialty Property & Casualty Insurance. The Insurance Distribution segment includes specialty property and casualty ("P&C") insurance underwriting and distribution, comprising Managing General Agents and Underwriters ("MGAs" or "MGA/Us"), an insurance broker, and other related businesses. On October 31, 2025, Octave acquired ArmadaCorp Capital, LLC and its subsidiaries ("ArmadaCorp"), a specialty accident and health MGA. This platform operates in lines such as property, niche specialty risk, accident & health, miscellaneous specialty, reinsurance, surety, marine & energy, specialty auto, E&S commercial package, professional lines, and Directors & Officers ("D&O"). The Specialty Property & Casualty Insurance segment includes five program insurers, collectively known as "Everspan." Everspan carriers hold an A.M. Best rating of 'A-' (Excellent), affirmed on July 17, 2025. On September 29, 2025, Octave completed the sale of its Legacy Financial Guarantee business, including Ambac Assurance Corporation ("AAC") and its subsidiary Ambac Assurance UK Limited ("AUK").