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Investor Presentaiton

SKYWARD SPECIALTY - SUMMARY BALANCE SHEETS (1) As at (Currency amounts in millions of US$) December 31, 2021 December 31, 2020 50.0 78.4 $1,555.1 Adjusted stockholders' equity increased to $435.2 million or 7.6% from Q4 2020 primarily reflecting net income of $38.3 million and $7.6 million of unrealized losses on the fixed income portfolio With the investment portfolio actions taken over the past 12 months, the repositioning of Skyward Specialty's investment platform is largely complete; large cash balances being deployed following strategic changes within the investment portfolio Skyward Specialty's financial position remains strong, with a debt to capitalization of 22.8% as at December 31, 2021 positioning the company for growth Skyward Specialty engaged Ernst & Young LLP ("EY”) to complete Skyward Specialty's independent audit for the years ended December 31, 2020 and 2021 Investments Cash and restricted cash $949.4 107.3 Insurance related assets 936.5 Deferred tax asset 33.7 Goodwill and other intangible assets 91.3 Total assets $2,118.2 $765.3 113.6 944.2 41.5 84.0 $1,948.6 Insurance related liabilities Notes payable Trust preferred securities $1,563.6 $1,426.7 50.0 78.5 Total liabilities Stockholders' equity Stock notes receivable $1,692.1 $435.2 $404.3 (9.1) (10.8) Total stockholders' equity Total liabilities and stockholders' equity (1) $426.1 $2,118.2 $393.5 $1,948.6 December 31, 2020 adjusted to conform to the presentation of the current period and restatement of previously reported figures resulting in a decrease in total assets of $4.6 million, a decrease in total liabilities of $3.4 million and a decrease in total stockholders' equity of $1.2 million. For 16 further details refer to the Skyward Specialty's consolidated financial statements with independent auditor's report as of and for the years ended December 31, 2021 and 2020 filed on SEDAR by the The Westaim Corporation.
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