RenaissanceRe Holdings Ltd. Responsible Investment Policy Integrating ESG Into Our Investment Practices SECTION II - Our Responsible Investment Policy: ESG Integration For public market third-party investment managers Training that we engage, we set mandates that we believe We continue to further our employees’ knowledge help achieve RenaissanceRe’s desired strategic and understanding of ESG issues, and the relevance asset allocation. These managers have full discretion of such issues to our business and their individual within the scope of the mandates that we set for them, roles. We provide relevant investments personnel meaning that we are not generally involved in day- with training, guidance and ESG-specialist to-day security selection decisions. The mandates resources to support them in developing their include investment guidelines and allocations that understanding of this Policy and the ESG issues incorporate the investment exclusions discussed which it seeks to address. We believe this will help above, and we ensure that the managers have build their confidence and knowledge to discuss access to MSCI data or can otherwise incorporate these issues with internal stakeholders, third-party the exclusions. We also assess the performance of asset managers and broader market stakeholders, these public market third-party investment managers and identify opportunities to further integrate ESG against benchmarks (and their adherence to our considerations into our investment strategy and investment guidelines) to give us confidence that decision-making. ESG factors are given due weight in the decisions our managers take on our behalf. For private market third-party investment managers, who generally do not have the bespoke mandates that public market third-party investment managers have, we consider ESG factors and the types of assets that these managers may invest in during our due diligence process. We also monitor their ESG policies and review related reports (for example annual ESG reports and UN PRI reports). At December 31, 2021, all of our private market managers had implemented a firm-wide ESG policy. In addition to integrating ESG considerations into the appointment of third-party investment managers, following their initial engagement, we continue to oversee and assess ESG factors. For example, we may review their methodologies for the identification and management of ESG risk and their policies and track records with regard to stewardship and engagement. We generally expect our third-party investment managers to complete a periodic questionnaire on ESG matters. We continue to develop our expectations on stewardship and engagement as part of our ESG framework for due diligence, appointment, and evaluation (including remuneration) of our third-party managers.
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