On June 15, 2017, XL Group Ltd (the “Company”) announced that it intends to commence a series of fixed income investor meetings in Europe on June 19, 2017 in connection with the potential offering by XLIT Ltd. (“XL-Cayman”), a direct, wholly-owned subsidiary of the Company, of Euro denominated fixed to floating rate subordinated notes due 2047 (the “subordinated notes”) in an underwritten public offering. The subordinated notes are expected to include provisions that would allow the issuer to optionally redeem the subordinated notes at par in the tenth year following the issue date, as well as at any time upon the occurrence of certain events, including specified tax, ratings and regulatory events.

The offering is subject to market and other conditions, and there can be no assurance as to the terms of any offering or whether or when the offering may commence or be completed. If the Company were to conduct the offering in the future, a prospectus relating to the offering will be made available by the underwriters of the offering or by the Company.

This report does not constitute an offer to sell or a solicitation of an offer to buy any securities.

Cautionary Note Regarding Forward-Looking Statements

This report contains forward-looking statements within the meanings of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934, including with respect to the potential offering of securities by XL-Cayman. Readers are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date on which they are made. We undertake no obligation to update publicly or revise any forward-looking statement, whether as a result of new information, future developments or otherwise.