Everest Re Group, Ltd. (NYSE: RE) (the “Company” or “Everest”) announced today that it has commenced an underwritten public offering of 3,000,000 common shares. The underwriters will have the option to purchase up to an aggregate of 450,000 additional common shares from the Company.

The Company intends to use the net proceeds from this offering for general corporate purposes, which may include expanding its existing business lines and operations. Citigroup Global Markets Inc. and Goldman Sachs & Co. LLC are acting as joint book-running managers.

The shares are being offered pursuant to an effective shelf registration statement that has been filed with the Securities and Exchange Commission (the “SEC”). This press release does not constitute an offer to sell or a solicitation of an offer to buy nor shall there be any sale of securities in any state or jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction. Any offer, or solicitation to buy, if at all, will be made solely by means of a prospectus and related prospectus supplement filed with the SEC. You may obtain these documents without charge from the SEC at www.sec.gov. Alternatively, you may request copies of these materials from Citigroup Global Markets Inc., Attention: Broadridge Financial Solutions, 1155 Long Island Avenue, Edgewood, NY 11717, telephone: 1-800-831-9146, or from Goldman Sachs & Co. LLC, Attention: Prospectus Department, 200 West Street, New York, New York 10282, telephone: 1-866-471-2526 or by emailing prospectus-ny@ny.email.gs.com.

About Everest

Everest is a global underwriting leader providing best-in-class property, casualty, and specialty reinsurance and insurance solutions that address customers’ most pressing challenges. Known for a 50-year track record of disciplined underwriting, capital and risk management, Everest, through its global operating affiliates, is committed to underwriting opportunity for colleagues, customers, shareholders, and communities worldwide.

Everest common stock (NYSE: RE) is a component of the S&P 500 index.

Cautionary Statement Regarding Forward-Looking Statements

Any forward-looking statements made in this Press Release reflect Everest’s current views with respect to future events and financial performance and are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. These statements are subject to numerous factors that could cause actual results to differ materially from those set forth in or implied by such forward-looking statements, including the following: the effects of catastrophic and pandemic events on the Company’s financial statements; estimates of the Company’s catastrophe exposure; the Company’s reserves for losses and loss adjustment expenses; the Company’s failure to accurately assess underwriting risk; decreases in pricing for property and casualty reinsurance and insurance; the Company’s ability to maintain its financial strength ratings; the failure of the Company’s insured, intermediaries and reinsurers to satisfy their obligations; the Company’s inability or failure to purchase reinsurance; consolidation of competitors, customers and insurance and reinsurance brokers; the effect on the Company’s business of the highly competitive nature of its industry, including the effect of new entrants to, competing products for and consolidation in the (re)insurance industry; the Company’s ability to retain its key executive officers and to attract or retain the executives and employees necessary to manage its business; the performance of the Company’s investment portfolio; the Company’s ability to determine any impairments taken on its investments; foreign currency exchange rate fluctuations; the effect of cybersecurity risks, including technology breaches or failure, on the Company’s business; the impact of the Tax Cut and Jobs Act; the adequacy of capital in relation to regulatory required capital; the adequacy of the Company’s provision for uncollectible balances; the ability of Everest Reinsurance Company and its subsidiaries, Everest Reinsurance Holdings, Inc., Everest Underwriting Group (Ireland) Limited, Everest Dublin Insurance Holdings Limited (Ireland), Everest Reinsurance (Bermuda), Ltd. and Everest International Reinsurance, Ltd. to pay dividends; and other factors affecting future results disclosed in Everest’s filings with the SEC, including its Annual Reports on Form 10-K and Quarterly Reports on Form 10-Q.

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