EFTA01367459.pdf

Important Notice to Potential Investors This information is issued by ABR Re. Citigroup Global Markets Inc., Deutsche Bank Securities Inc., Morgan Stanley & Co. LLC and Morgan Stanley Smith Barney LLC will act as placement agents (the "Placement Agents") in connection with a distribution described herein, and may solicit offers to purchase the relevant securities on an agented (and not as principal) basis. This document is solely for your use ("you") and is not intended for any further dissemination. The concepts and structures it contains are confidential and proprietary information and have been prepared by us solely for use in connection with the offering of Common Shares as described in the Placement Memorandum. They are shared with you for the exclusive purpose of allowing you to evaluate your interest in such offering. In particular, this information may not be used to discuss similar structures with any person we, ACE or BlackRock, as the case may be, could reasonably consider a competitor in this field. Unless otherwise agreed in writing, each of ACE, BlackRock, the Placement Agents and their respective affiliates act solely in the capacity of an arm's length contractual counterparty and not as an adviser, fiduciary or agent. You should not construe the contents of this investor presentation as investment, tax or legal advice. This investor presentation, as well as the nature of an investment in the Common Shares, should be reviewed by you with your investment, tax and legal advisors. Any financial transaction involves a variety of potentially significant risks and issues. Prior to entering into any transaction, you should determine, without reliance upon the Placement Agents or any of their respective affiliates, the economic risks and merits, as well as the legal, tax and accounting characterizations and consequences of the transaction, and independently determine that you are able to assume these risks. None of ACE, BlackRock or the Placement Agents do provide legal, tax or accounting advice. The Placement Agents and their respective affiliates are full service financial institutions engaged in various activities, including securities trading, commercial and investment banking, financial advisory, investment management, investment research, principal investment, hedging, financing, market making, brokerage and other financial and non- financial activities and services. Certain of the Placement Agents and their respective affiliates have, from time to time, performed, and/or may in the future perform, various financial advisory, commercial and investment banking and financing activities and services for ACE and BlackRock and for persons and entities with relationships with ACE and BlackRock for which they received or will receive customary fees and expenses. This investor presentation is for information purposes only. While information herein has been obtained from sources believed to be reliable, we do not represent it to be accurate or complete. The information contained herein includes illustrations, estimates and projections and involves significant elements of subjective judgment, assumptions and analysis. Any views or opinions (including illustrations, estimates, statements or forecasts) constitute our judgment as of the date indicated and are subject to change without notice. No representation is made as to the accuracy of such illustrations, estimates or projections or that all assumptions relating to them have been considered or stated or that such projections or returns will be realized. The returns or performance results may be lower than estimated herein. Note that past performance is not indicative of future results. The information contained herein does not purport to contain all of the information that may be required to evaluate such solutions and you are encouraged to conduct independent analysis of the data referred to herein. We do not undertake to update this document. 0220311 020215 4 CONFIDENTIAL - PURSUANT TO FED. R. CRIM. P. 6(e) DB-SDNY-0059011 CONFIDENTIAL SDNY_GM_00205195 EFTA01367459