Revocation of existing approval and granting of new approval to hold a stake in a financial sector company of more than 20% No. 4 of 2026 – Aspen Insurance UK Limited

Financial Sector (Shareholdings) Act 1998

To: The Existing Approval Holders named in Schedule 1 and the Applicants named in Schedule 3

Since:

1.             On 17 December 2021, the Existing Approval Holders were granted approval under subsection 14(1) of the Financial Sector (Shareholdings) Act 1998 (the Act) to hold a 100% stake in the companies named in Schedule 2, financial sector companies under the Act (the Existing Approval);1

1.             On 23 December 2025, the Existing Approval Holders requested that the Existing Approval be revoked but that the approval for Aspen Insurance Holdings Limited and Aspen European Holdings Limited be regranted in this instrument;
2.             On 6 October 2025, the Applicants applied to the Treasurer under section 13 of the Act for approval to hold a 100% stake in the financial sector companies named in Schedule 4;

1.             I am satisfied it is in the national interest for the Applicants, Aspen Insurance Holdings Limited and Aspen European Holdings Limited to hold a 100% stake in the financial sector companies named in Schedule 4,

I, John Huijsen, a delegate of the Treasurer:

1.   under subsection 18(3) of the Act, revoke the Existing Approval commencing six months after the date of this instrument; and

1.   under subsection 14(1) of the Act, approve each of the Applicants, Aspen Insurance Holdings Limited and Aspen European Holdings Limited to hold a 100% stake in the financial sector companies named in Schedule 4, commencing on the day this instrument is made.

1 Revocation of existing approval and granting of new approval to hold a stake in a financial sector company of more than 20% No 27 of 2021 - F2022N00002.

This instrument commences on the day it is made and remains in force indefinitely.

Date: 12 February 2026

John Huijsen General Manager

General Insurance and Banking Division Australian Prudential Regulation Authority

Interpretation

Act means the Financial Sector (Shareholdings) Act 1998.

financial sector company has the meaning given in section 3 of the Act.

stake in relation to a company, has the meaning given in clause 10 of Schedule 1 to the Act.

Schedule 1 – the Existing Approval Holders

1.         Tango Holdings, Inc. (Delaware) (Tango) and its associates
2.         Directors of Tango Holdings, Inc, who are as follows:1
   1.       Walter Joseph (Jay) Clayton III
   2.       Marc Rowan
   3.       Joshua Harris
   4.       James Belardi
   5.       Scott Kleinman
   6.         James C. Zelter
   7.       Richard Emerson
   8.       Dr. Kerry Murphy Healey
   9.         Michael E. Ducey
   10.         Pamela Joyner
   11.       Alvin Bernard Krongard
   12.         Pauline Richards
   13.    David Simon
   14.       Marc Alan Beilinson
   15.       Mitra Hormozi
   16.       Lynn Swann

1.         Aspen Insurance Holdings Limited
2.         Aspen European Holdings Limited (UK Company) (formerly Aspen Fenchurch Limited)
3.         Highlands Bermuda Holdco Ltd (formerly named Highlands Holdings, Ltd) (Bermuda)
4.         AP Highlands Co-Invest, L.P. (Cayman)
5.         AP Highlands Holdings, L.P. (Cayman)
6.         Apollo Management IX, L.P. (Delaware, USA)
7.         APH Holdings, L.P. (Cayman)
8.     APO Asset Co., LLC (Delaware, USA)
9.     Apollo Global Management, Inc (Delaware)
10.     BRH Holdings GP, Ltd
11.     Leon Black
12.     Joshua Harris
13.     Marc Rowan
14.     AP Highlands Holdings (GP), LLC (Cayman)
15.     AIF IX International Holdings, L.P. (Cayman)
16.     Apollo Overseas Partners (892 AIV) IX, L.P. (Cayman)
17.     Apollo Advisors IX (EH), L.P. (Cayman)
18.     Apollo Advisors IX (EH-GP), LLC (Cayman)

1.     Apollo Principal Holdings III GP, Ltd. (Cayman)
2.     AIF IX Management, LLC (Delaware, USA)
3.     Apollo Management, L.P. (Delaware, USA)
4.     Apollo Management G.P., LLC (Delaware, USA)
5.     Apollo Management Holdings, L.P. (Delaware, USA)
6.     Apollo Management Holdings, G.P.,LLC (Delaware, USA)
7.       APO Corp. (Delaware, USA)
8.     Apollo Co-Investment Management, LLC (Delaware, USA)
9.     LDB 2014 LLC (5545951) (Delaware, USA)
10.     John J. Hannan – as Trustee of Heritage Trust and AB 2011 Trust, BEB 2011 Trust, JMB 2011 Trust and VRB 2011 Trust
11.     Richard Ressler – as Trustee of Heritage Trust
12.     Barry J. Cohen – as Trustee of Heritage Trust
13.     Debra Black – as Trustee of each of ASB 2011 Trust, BEB 2011 Trust, JMB 2011 Trust and VRB 2011 Trust

Schedule 2 – the financial sector companies that Existing Approval Holders have current approval in (approval to be revoked)

1.         Aspen Insurance UK Limited ARBN 128 637 650 (UK Company)
2.         Aspen European Holdings Limited (UK Company)
3.         Aspen Insurance Holdings Limited (Bermuda)
4.         Highlands Bermuda Holdco Ltd, formerly Highlands Holdings Limited (Bermuda)

Schedule 3 – the Applicants

1.         Endurance Specialty Insurance Ltd.
2.         Sompo International Holdings Ltd.
3.         Sompo Japan Insurance Inc.
4.         Sompo Holdings, Inc.

Schedule 4 – the financial sector companies

1.         Aspen Insurance UK Limited
2.         Aspen European Holdings Limited
3.         Aspen Insurance Holdings Limited
4.         Endurance Specialty Insurance Ltd.
5.         Sompo International Holdings Ltd.
6.         Sompo Japan Insurance Inc.