GRAND CAYMAN, Cayman Islands — August 2, 2018 — Greenlight Capital Re, Ltd. (NASDAQ: GLRE) (the “Company” of “Greenlight Re”), a specialist property and casualty reinsurance company headquartered in the Cayman Islands, today announced that it proposes to offer, subject to market conditions and other factors, $100,000,000 in aggregate principal amount of its Convertible Senior Notes due 2023 (the “Notes”) in a private offering that is exempt from the registration requirements of the Securities Act of 1933, as amended (the “Securities Act”). The Company expects to grant the initial purchasers of the Notes a 30-day option to purchase up to $15,000,000 additional principal amount of the Company’s Notes.