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Ambac Reports That the Wisconsin Office of the Commissioner of Insurance Has Scheduled a Hearing on the Sale of Ambac's Legacy Business

NEW YORK--(BUSINESS WIRE)-- Ambac Financial Group (鈥淎mbac鈥�) (NYSE: AMBC), an insurance holding company, today reported that the Wisconsin Office of the Commissioner of Insurance (鈥淥CI鈥�) has scheduled a hearing on the sale of Ambac Assurance Corporation (鈥淎AC鈥�) (the 鈥淪ale鈥�). The hearing will take place on September 3, 2025, at 9 a.m. CT. The OCI has also scheduled a pre-hearing conference relating to the Sale to take place on August 4, 2025, at 3 p.m. CT. Further information may be obtained on the OCI鈥檚 website at .

鈥淲e are pleased that a hearing date has been set, one of the final steps in the Wisconsin regulatory approval process,鈥� Ambac President and CEO Claude LeBlanc said. 鈥淲e are eager to complete the Sale and cement our transformation into a pure-play specialty P&C insurance platform.鈥�

About Ambac

Ambac Financial Group, Inc. (鈥淎mbac鈥� or 鈥淎FG鈥�) is an insurance holding company headquartered in New York City. Ambac鈥檚 core business is a growing specialty P&C distribution and underwriting platform. Ambac also has a legacy financial guaranty business in run off. Ambac鈥檚 common stock trades on the New York Stock Exchange under the symbol 鈥淎MBC鈥�. Ambac is committed to providing timely and accurate information to the investing public, consistent with our legal and regulatory obligations. To that end, we use our website to convey information about our businesses, including the anticipated release of quarterly financial results, quarterly financial, statistical and business-related information. For more information, please go to .

The Amended and Restated Certificate of Incorporation of Ambac contains substantial restrictions on the ability to transfer Ambac鈥檚 common stock. Subject to limited exceptions, any attempted transfer of common stock shall be prohibited and void to the extent that, as a result of such transfer (or any series of transfers of which such transfer is a part), any person or group of persons shall become a holder of 5% or more of Ambac鈥檚 common stock or a holder of 5% or more of Ambac鈥檚 common stock increases its ownership interest.

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Investors:

Charles J. Sebaski

Managing Director, Investor Relations

(212) 208-3177

[email protected]



Media:

Kate Smith

Director, Corporate Communications

(212) 208-3452

[email protected]

Source: Ambac Financial Group, Inc.