RenaissanceRe Holdings Ltd. and Subsidiaries Consolidated Statements of Operations For the years ended December 31, 2021, 2020, and 2019 (in thousands of United States Dollars, except per share amounts) 2021 2020 2019 Revenues Gross premiums written (Note 7) $ 7,833,798 $ 5,806,165 $ 4,807,750 Net premiums written (Note 7) $ 5,939,375 $ 4,096,333 $ 3,381,493 Increase in unearned premiums (745,194) (143,871) (43,090) Net premiums earned (Note 7) 5,194,181 3,952,462 3,338,403 Net investment income (Note 5) 319,479 354,038 424,207 Net foreign exchange gains (losses) (41,006) 27,773 (2,938) Equity in earnings of other ventures (Note 5) 12,309 17,194 23,224 Other income 10,880 213 4,949 Net realized and unrealized gains (losses) on investments (Note 5) (218,134) 820,636 414,109 Total revenues 5,277,709 5,172,316 4,201,954 Expenses Net claims and claim expenses incurred (Notes 7 and 8) 3,876,087 2,924,609 2,097,021 Acquisition expenses 1,214,858 897,677 762,232 Operational expenses 212,184 206,687 222,733 Corporate expenses 41,152 96,970 94,122 Interest expense (Note 9) 47,536 50,453 58,364 Total expenses 5,391,817 4,176,396 3,234,472 Income (loss) before taxes (114,108) 995,920 967,482 Income tax benefit (expense) (Note 15) 10,668 (2,862) (17,215) Net income (loss) (103,440) 993,058 950,267 Net (income) loss attributable to redeemable noncontrolling interests (Note 10) 63,285 (230,653) (201,469) Net income (loss) attributable to RenaissanceRe (40,155) 762,405 748,798 Dividends on preference shares (Note 12) (33,266) (30,923) (36,756) Net income (loss) available (attributable) to RenaissanceRe common shareholders $ (73,421) $ 731,482 $ 712,042 Net income (loss) available (attributable) to RenaissanceRe common shareholders per common share – basic (Note 13) $ (1.57) $ 15.34 $ 16.32 Net income (loss) available (attributable) to RenaissanceRe common shareholders per common share – diluted (Note 13) $ (1.57) $ 15.31 $ 16.29 See accompanying notes to the consolidated financial statements F-5