Global Atlantic (Fin) Company Announces Expiration and Results of Cash Tender Offer For Subordinated Debentures Due 2051

Global Atlantic (Fin) Company ("Global Atlantic") today announced the expiration and final results of its previously announced cash tender offer (the "Tender Offer") for any and all of the outstanding 4.70% Fixed-to-Fixed Rate Subordinated Debentures due 2051 (the "Debentures"). Global Atlantic is a wholly owned subsidiary of Global Atlantic Limited (Delaware), which has fully and unconditionally guaranteed the Debentures on a subordinated, unsecured basis.

The Tender Offer expired at 5:00 p.m., New York City time, on November 21, 2025 (the "Expiration Time"). The principal amount of the Debentures that was validly tendered and not validly withdrawn in the Tender Offer as of the Expiration Time according to information provided by Global Bondholder Services Corporation ("GBSC"), the Information and Tender Agent for the Tender Offer, is set forth in the table below. The amount in the table below does not include $778,000 aggregate principal amount of the Debentures that remain subject to the guaranteed delivery procedures.

Global Atlantic expects to accept for purchase all Debentures validly tendered and not validly withdrawn prior to the Expiration Time, including Debentures delivered in accordance with the guaranteed delivery procedures. Settlement for the Debentures validly tendered and not validly withdrawn at or prior to the Expiration Time and accepted for purchase by Global Atlantic is expected to take place on November 26, 2025, subject to the conditions in the below referenced Offer to Purchase, including the Financing Condition described therein. Holders of Debentures accepted for purchase pursuant to the Tender Offer will receive the previously announced consideration of $1,000 for each $1,000 principal amount of Debentures plus accrued and unpaid interest thereon from the last interest payment date to, but not including, the settlement date for the Tender Offer.

The Tender Offer was made pursuant to the Offer to Purchase dated November 17, 2025 and the related Notice of Guaranteed Delivery.

Wells Fargo Securities, LLC, BNP Paribas Securities Corp., BofA Securities, Inc., Morgan Stanley & Co. LLC, and SMBC Nikko Securities America, Inc. (collectively, the "Dealer Managers") acted as dealer managers for the Tender Offer. GBSC acted as the Information and Tender Agent for the Tender Offer.

THIS PRESS RELEASE IS FOR INFORMATIONAL PURPOSES ONLY AND IS NOT AN OFFER OR SOLICITATION TO PURCHASE DEBENTURES. THE TENDER OFFER WAS MADE SOLELY PURSUANT TO THE OFFER DOCUMENTS, WHICH SET FORTH THE COMPLETE TERMS OF THE TENDER OFFER.

About Global Atlantic

Global Atlantic is a leading provider of retirement security and investment solutions with operations in the U.S. and Bermuda. As a wholly owned subsidiary of KKR (NYSE:KKR), a leading global investment firm, Global Atlantic combines deep insurance expertise with KKR's powerful investment capabilities. Together, they deliver long-term financial security for millions of individuals and risk-focused, client-driven solutions for institutions. With a broad suite of annuity, preneed life insurance, reinsurance, and investment solutions, Global Atlantic, through its issuing companies, helps people achieve their financial goals with confidence. For more information, please visit www.globalatlantic.com.

Global Atlantic is the marketing name for The Global Atlantic Financial Group LLC and its subsidiaries, including Accordia Life and Annuity Company, Commonwealth Annuity and Life Insurance Company, Forethought Life Insurance Company and Global Atlantic Re Limited. Each subsidiary is responsible for its own financial and contractual obligations. These subsidiaries are not authorized to do business in New York.

Cautionary Statement

This press release contains forward-looking statements and cautionary statements. Some of the forward-looking statements can be identified by the use of forward-looking terms such as "believes," "expects," "may," "will," "should" or other comparable words or other statements that do not relate strictly to historical or factual matters. Forward-looking statements include, without limitation, all matters that are not historical facts. Forward-looking statements are subject to known and unknown risks and uncertainties, many of which may be beyond our control. Accordingly, there are or will be important factors that could cause actual outcomes or results to differ materially from those indicated in this press release. Important risk factors regarding Global Atlantic can be found in the Offer to Purchase dated November 17, 2025 and are incorporated herein by reference. Furthermore, all forward-looking statements made in this press release are qualified by these cautionary statements. These forward-looking statements are made only as of the date of this press release, and we do not undertake any obligation, other than as may be required by law, to update or revise any forward-looking or cautionary statements to reflect changes in assumptions, the occurrence of events, unanticipated or otherwise, and changes in future operating results over time or otherwise.

Source: Global Atlantic (Fin) Company

View source version on businesswire.com: https://www.businesswire.com/news/home/20251121543741/en/

Global Atlantic (Fin) Company

Email: [email protected]