Axis Capital Holdings Limited · NYSE:AXS

Axis Capital — SPAC Merger (June 2015)

8 slides from Axis Capital's SPAC merger presentation, Jun 29, 2015

  1. Slide 1: Important Information for Investors and Shareholders

    IMPORTANT INFORMATION Important Information For Investors And Shareholders This communication does not constitute an offer to buy or sell or the solicitation of an offer to buy or sell any securities or a solicitation of any vote or approval. This communication relates to a proposed business combina

  2. Slide 2: PartnerRe and AXIS Capital Have Agreed to a Merger-of-Equals

    PartnerRe and AXIS Capital Have Agreed to a Merger-of-Equals That Will Create an Industry Powerhouse [][] Brings together market-leading insurance and reinsurance franchises that will benefit from increased scale and a stronger market presence [][] Merger will result in an even stronger company with

  3. Slide 3: Strategic Merits of the Merger

    Strategic Merits of the Merger Top 5 global reinsurer with increased scale and relevance [][] Leading franchise in attractive specialty markets [][] Expanded business opportunities [][] Improved service capabilities and breadth of products Positioned to seize growth opportunities in attractive speci

  4. Slide 4: Financially Compelling Transaction

    Financially Compelling Transaction Together PartnerRe and AXIS Capital expect to have: Balance and Market Leading Returns [GRAPHIC OMITTED] 5

  5. Slide 5: AXIS-PartnerRe Value Proposition: $155.50 Per PartnerRe Share

    [GRAPHIC OMITTED] AXIS-PartnerRe Value Proposition: -$155.50 Per PartnerRe Share Total Illustrative Value Expected to PRE Shareholders -$181.50 ------------------- 180 170 Incremental Upside 160 -$155.50 ------------------- 150 -$15.00 140 -$10.00 130 120 -$119.00 $11.50 110 ----------------- ------

  6. Slide 6: EXOR S.p.A. Has Made an Inferior Offer to Acquire PartnerRe

    [GRAPHIC OMITTED] EXOR S.p.A. Has Made an Inferior Offer to Acquire PartnerRe On May 12, 2015, EXOR S.p.A. made an unsolicited and opportunistic offer to acquire all of the outstanding common shares of PartnerRe for $137.50 per share in cash. PartnerRe's Board of Directors believes that this INFERIO

  7. Slide 7: Your Vote Is Important

    [GRAPHIC OMITTED] YOUR VOTE IS IMPORTANT PartnerRe's Board of Directors Supports the Merger Please Vote FOR the Merger Using the Enclosed WHITE Proxy Card Today REMEMBER: Regardless of the number of shares you own, we urge you to vote today. You may vote by phone, by internet or by signing, dating a

  8. Slide 8: Your Vote Is Important

    YOUR VOTE IS IMPORTANT PartnerRe’s Board of Directors Supports the Merger Please Vote FOR the Merger Using the Enclosed WHITE Proxy Card Today REMEMBER: Regardless of the number of shares you ‘own, we urge you to vote today. You may vote by phone, by internet or by signing, dating and returning the

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