Octave Specialty Group, Inc. · NYSE:OSG

Octave Specialty — Ambac Financial Group — Q3 2020 Earnings Presentation

9 slides from Octave Specialty's earnings presentation, Nov 10, 2020

  1. Slide 1: Puerto Rico Exposure Third Quarter 2020

    PUERTO RICO EXPOSURE Third Quarter 2020 © 2020 Ambac Financial Group, Inc. One World Trade Center, New York, NY 10007 All Rights Reserved | 800-221-1854 | www.ambac.com

  2. Slide 2: Neither Ambac nor any of its employees, affiliates or representatives makes any representation or

    Neither Ambac nor any of its employees, affiliates or representatives makes any representation or warranty, expressed or implied, as to the accuracy or completeness of any of the information contained in this overview, and the recipient of this overview expressly disclaims any and all liabilities re

  3. Slide 3: Puerto Rico Exposure & Ratings Summary

    PUERTO RICO EXPOSURE & RATINGS SUMMARY Ambac Puerto Rico Exposure (1) (1) (2) (5) (2) (5) as of September 30, 2020 ($ in millions) Gross Principal & Net Principal Range of Credit Single Risk (6) Gross Par Net Par Interest & Interest Maturity Class Rating General Fund Debt: PR Commonwealth GO $ 18.0

  4. Slide 4: Schedule of Net Debt Service on Insured Debt

    SCHEDULE OF NET DEBT SERVICE(1) ON INSURED DEBT (AS OF SEPTEMBER 30, 2020) $150 $125 $100 ($ Millions) $75 $50 (2) (3) $25 $0 2021 2022 2023 2024 2025 2026 2027 2028 2029 Year of Payment General Obligation Highway (2) (3) Hotel Occupancy Tax Rum Tax and General Obligation Guaranteed (1) Net of reins

  5. Slide 5: Puerto Rico Net Principal and Interest Amortization

    PUERTO RICO NET PRINCIPAL AND INTEREST(1) AMORTIZATION AS OF SEPTEMBER 30, 2020 ($ IN MILLIONS) Net Principal and Interest Amortization of Ambac Insured Puerto Rico Exposures by Payment Date Senior Commonwealth Public Bldg - GO Senior Highway Transportation Hotel Occupancy Sales Tax (3) Payment Date

  6. Slide 6: Puerto Rico Net Principal and Interest Amortization – Continued

    PUERTO RICO NET PRINCIPAL AND INTEREST(1) AMORTIZATION – CONTINUED AS OF SEPTEMBER 30, 2020 ($ IN MILLIONS) Net Principal and Interest Amortization of Ambac Insured Puerto Rico Exposures by Payment Date Senior Commonwealth Public Bldg - GO Senior Highway Transportation Hotel Occupancy Sales Tax Paym

  7. Slide 7: Forward Looking Statement

    Forward Looking Statement In this presentation, we have included statements that may constitute “forward-looking statements” within the meaning of the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. Words such as “estimate,” “project,” “plan,” “believe,” “anticipate,”

  8. Slide 8: About Ambac

    About Ambac Ambac Financial Group, Inc. (“Ambac” or “AFG”), headquartered in New York City, is a financial services holding company whose principal subsidiaries, Ambac Assurance Corporation and Ambac Assurance UK Limited, are financial guarantors currently in runoff. Outstanding policies include fin

  9. Slide 9: Ambac Financial Group, Inc. contact details

    © 2020 Ambac Financial Group, Inc. One World Trade Center, New York, NY 10007 All Rights Reserved | 800-221-1854 | www.ambac.com

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