Results of Operations for 2021 Compared to 2020 Net loss attributable to RenaissanceRe common shareholders was 3.4 million in 2021, compared to net income available to RenaissanceRe common shareholders of 31. million in 2020, a decrease of 04.9 million. As a result of our net loss attributable to RenaissanceRe common shareholders in 2021, we generated an annualiNed return on average common equity of negative 1.1 and our book value per common share decreased from 13.46 at December 31, 2020 to 132.1 at December 31, 2021, a 3. decrease, after considering the change in accumulated dividends paid to our common shareholders. The most significant items affecting our financial performance during 2021, on a comparative basis to 2020, include X Impact of Weather-Related Large Losses and COVID-19 - in 2021, we had a net negative impact on our net loss attributable to RenaissanceRe common shareholders of 962.1 million resulting from the 2021 Weather-Related Large Losses. This compares to a net negative impact on our net income available to RenaissanceRe common shareholders of 493.6 million in 2020 resulting from the 2020 Weather- Related Large Loss Events and 26.6 million resulting from losses related to the COVID-19 pandemic • Underwriting Results - we incurred an underwriting loss of 10.9 million and had a combined ratio of 102.1 in 2021, compared to an underwriting loss of 6. million and a combined ratio of 101.9 in 2020. Our underwriting loss in 2021 was comprised of an underwriting loss of 1. million in our Property segment, partially offset by underwriting income of 6.6 million in our Casualty and Specialty segment. In comparison, our underwriting loss in 2020 was comprised of . million of underwriting loss in our Casualty and Specialty segment, partially offset by underwriting income of 11.0 million in our Property segment. Included in our underwriting results in 2021 was the impact of the 2021 Weather-Related Large Losses, which resulted in a net negative impact on our underwriting result of 1.4 billion and added 2. percentage points to the combined ratio, primarily in the Property segment. In comparison, our underwriting result in 2020 was principally impacted by the 2020 Weather-Related Large Loss Events and the COVID-19 losses. In 2020, the 2020 Weather-Related Large Loss Events resulted in a net negative impact on the underwriting result of 66. million and added 1.2 percentage points to the combined ratio, primarily in the Property segment. The COVID-19 losses incurred in 2020, which impacted both the Property and Casualty and Specialty segments, resulted in a net negative impact on the underwriting result of 31.9 million and added .9 percentage points to the combined ratio • Gross Premiums Written - our gross premiums written increased by 2.0 billion, or 34.9, to . billion, in 2021, compared to 2020, with an increase of 99.6 million in the Property segment and an increase of 1.1 billion in the Casualty and Specialty segment. The increase was driven by growth from both new and existing business and rate improvements across both segments and a number of our underwriting platforms, and, in our Property segment, reinstatement premiums of 34.0 million associated with 2021 Weather-Related Large Losses, as compared to 9.2 million of reinstatement premiums in 2020 associated with the 2020 Weather-Related Large Loss Event s and 2.0 million associated with COVID-19 losses in 2020 • Investment Results - our total investment result, which includes the sum of net investment income and net realiNed and unrealiNed gains losses on investments, was 101.3 million in 2021, compared to 1.2 billion in 2020, a decrease of 1.1 billion. The primary driver of the lower total investment result, for 2021, was the net realiNed and unrealiNed losses on our fixed maturity trading portfolio, partially offset by net realiNed and unrealiNed gains on our equity investments trading portfolio. The higher investment results in 2020 were favorably impacted by the market recovery following the disruption in global financial markets associated with the COVID-19 pandemic and X Net Loss (Income) Attributable to Redeemable Noncontrolling Interests - our net loss attributable to redeemable noncontrolling interests was 63.3 million in 2021, compared to net income attributable to redeemable noncontrolling interest of 230. million in 2020 , reflecting the impact of higher underwriting losses in DaVinci, lower underwriting income in Vermeer, and a decrease in Medici net income, primarily due to foreign exchange losses that are attributable to third party investors. 2