RenaissanceRe 2025 Sustainability Report A Message From Our CEO About This Report Sustainability Strategy Our Portfolio Our Partnerships Our People Our Operations Our Communities Our Governance Metrics and Performance Looking Ahead Appendix 12 Risk Management We manage risk through an integrated ERM framework designed to identify, assess and respond to risks across our business. Our approach combines proprietary models, scientific research and scenario analysis to develop a differentiated view of risk, informing decision-making and supporting disciplined risk-taking over time. Climate-related risks are assessed and managed within our established risk appetite framework, consistent with our overall approach to capital adequacy and portfolio resilience. Scenario Analysis and Stress Testing We use stress testing of risk representations, reinsurance structures and capital adequacy to assess uncertainty within our models and its impact on key risk metrics. Scenario analysis is applied to assess the impact of climate-related risk on our solvency position, considering variables such as temperature rise, sea-level rise, extreme heat and precipitation across geographies and sectors. We consider climate-related risks across multiple time horizons to reflect evolving uncertainty. These analyses inform underwriting strategy, capital allocation and risk appetite. Enhancing Climate Risk Understanding Our team of scientists at RenaissanceRe Risk Sciences develop proprietary models for perils such as hurricanes, floods, wildfires and earthquakes, enhancing our ability to evaluate and price risk with precision. In practice, this meant that following the January 2025 California wildfires, where industry losses reached approximately $40 billion, our ability to rapidly update our California wildfire models to reflect an updated view of risk provided us with the confidence to continue supporting clients in the California market. Rather than retreating, our science gave us the basis to lean in where others pulled back. RenaissanceRe’s ERM framework First Line Second Line Third Line The first line consists of individual functions that deliberately assume risks on our behalf and own and manage risk within the Company on a day-to-day and business operational basis. The second line is responsible for risk oversight and also supports the first line to understand and manage risk. It is comprised of a dedicated risk team led by the Group Chief Risk Officer, who reports to the Board’s Investment and Risk Management Committee (IRMC) and the Chief Executive Officer, and a dedicated compliance team led by the Group General Counsel, who reports to the Board’s Audit Committee and the Chief Executive Officer. The third line, our Internal Audit team, reports to the Audit Committee of the Board and provides independent, objective assurance as to the assessment of the adequacy and effectiveness of our internal control systems. They also coordinate risk-based audits and compliance reviews, as well as other specific initiatives to evaluate and address risk within targeted areas of our business. In Focus: Climate Risk Science Climate-related risk is central to our business. Our scientific capabilities and catastrophe models enable us to understand the influence of climate impacts and incorporate them directly into our view of risk, giving us a differentiated perspective that supports more informed underwriting.