Tower rating reaffirmed as A- (Excellent)

27 April 2021 A.M. Best reaffirms Tower Limited's A- (Excellent) credit rating Global company rating specialist A.M. Best has reaffirmed Tower Limited's financial strength rating at A- (Excellent). The rating reflects Tower's balance sheet strength, which A.M. Best assesses as very strong. A.M. Best also noted Tower's robust financial flexibility and prudent reinsurance programme. Tower Chair, Michael Stiassny welcomes the confirmation from A.M. Best saying this latest reaffirmation recognises Tower's strong performance in recent years. "This is recognition that Tower is a consistent performer and we are well placed to continue successfully delivering on our strategy and achieving positive results." ENDS Authorised by the Board. Blair Turnbull Chief Executive Officer Tower Limited For media queries, please contact: Emily Davies Head of Corporate Affairs and Reputation Mobile: +64 21 815 149 Email: emily.davies@tower.co.nz End CA:00371211 For:TWR Type:ADMIN Time:2021-04-27 09:14:47