The information contained on, or that may be accessed through, the websites referenced in this press release
is not incorporated by reference into, and is not a part of, this press release.
Participants in the Solicitation
Pivotal, XL and certain of their respective directors and executive officers may be deemed participants in the solicitation of proxies from the shareholders of
Pivotal in favor of the approval of the business combination and related matters. Shareholders may obtain more detailed information regarding the names, affiliations and interests of certain of Pivotals executive officers and directors in the
solicitation by reading Pivotals Annual Report on Form 10-K for the fiscal year ended December 31, 2019, and the proxy statement and other relevant materials filed with the SEC in connection with
the business combination when they become available. Information concerning the interests of Pivotals participants in the solicitation, which may, in some cases, be different than those of their stockholders generally, will be set forth in the
proxy statement relating to the business combination when it becomes available.
No Offer or Solicitation
This communication does not constitute an offer to sell or the solicitation of an offer to buy any securities or a solicitation of any vote or approval, nor
shall there be any sale of any 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 such other jurisdiction.
Forward Looking Statements
The information in this press
release includes forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended (the Securities Act), and Section 21E of the Securities Exchange Act of 1934, as amended. All
statements, other than statements of present or historical fact included in this presentation, regarding the proposed business combination, including Pivotals ability to consummate the transaction, the benefits of the transaction and the
combined companys future financial performance, as well as the combined companys strategy, future operations, estimated financial position, estimated revenues and losses, projected costs, prospects, plans and objectives of management,
are forward-looking statements. Forward-looking statements are inherently subject to risks, uncertainties and assumptions. These statements may be preceded by, followed by or include the words anticipates, believes,
estimates, expects, projects, forecasts, may, will, should, seeks, plans, scheduled, anticipates or
intends or similar expressions. Such forward-looking statements involve risks and uncertainties that may cause actual events, results or performance to differ materially from those indicated by such statements. Certain of these risks are
identified and discussed in Pivotals Annual Report on Form 10-K for the year ended December 31, 2019 under Risk Factors in Part I, Item 1A and in Pivotals Quarterly Report on Form 10-Q for the quarter ended June 30, 2020. These risk factors will be