X0306 4 2015-07-31 0 0001165880 MONTPELIER RE HOLDINGS LTD MRH 0001179755 ENDURANCE SPECIALTY HOLDINGS LTD WATERLOO HOUSE, 100 PITTS BAY ROAD PEMBROKE D0 HM 08 BERMUDA 0 0 1 0 Common Shares, par value 1/6 cent per share 2015-07-31 4 J 0 100 D 0 I See Footnote (1) Endurance Specialty Holdings Ltd. ("Endurance") indirectly owned 100 common shares, par value 1/6 cent per share (the "Montpelier Shares"), of Montpelier Re Holdings Ltd. ("Montpelier") through a wholly-owned subsidiary of Endurance. Pursuant to that certain Agreement and Plan of Merger, dated as of March 31, 2015, by and among Montpelier, Endurance and Millhill Holdings Ltd., a direct, wholly-owned subsidiary of Endurance ("Merger Sub"), Montpelier merged with and into Merger Sub, with Merger Sub surviving such merger as a direct, wholly-owned subsidiary of Endurance (the "Merger"). In connection with the Merger Agreement, Endurance entered into a voting agreement, dated as of March 31, 2015 (the "Voting Agreement"), with certain shareholders of Montpelier, which shareholders beneficially owned more than 10% of the Montpelier Shares. At the effective time of the Merger, (i) the 100 Montpelier Shares indirectly owned by Endurance were cancelled for no consideration; (Continued from Footnote 1) and (ii) the Voting Agreement terminated in accordance with its terms. As a result of the Merger, the cancellation of the 100 Montpelier Shares indirectly owned by Endurance and the termination of the Voting Agreement, Endurance ceased to be a beneficial owner of more than ten percent of the Montpelier Shares. ENDURANCE SPECIALTY HOLDINGS LTD. /s/ John V. Del Col, General Counsel & Secretary 2015-08-04