Company: AXS-PE
Filing Date: 2025-05-05
Form Type: DEFA14A
Source: 0001214816-25-000123
Chunk: 3

Company: AXIS CAPITAL HOLDINGS LTD
Filing Date: 2025-05-05
Form: DEFA14A
Chunk 3
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/2025 2 Operating return on average common equity ("operating ROACE") is a non-GAAP financial measure as defined in SEC Regulation G. The reconciliation to ROACE, the most comparable GAAP financial measure, and a discussion of the rationale for its presentation is provided later in this document 3 Total capital represents the sum of total shareholders' equity and debt. The debt to total capital ratio is calculated by dividing debt by total capital 4 Amounts may not reconcile throughout the document due to rounding differences Gross premiums written ("GPW"), last 12 months1 As of 3/31/2025

5 New chapter in our journey to become the leading Specialty underwriter Ambitious and clear strategy supported by four strategic pillars Rebalanced portfolio focused on core strengths in Specialty underwriting Improved ways of operating and going to market, enabled by organization-wide "How We Work" effort Underwriting-led company with significant updates to leadership team Strong, flexible capital position to deliver value to shareholders

Bold aspiration and clear strategy 6 We operate in attractive markets, make decisive choices on where and how to compete, and nimbly allocate resources We manage our capital efficiently We invest in building strong capabilities in underwriting, claims, and operations We are rigorously improving how we operate to become a more integrated, efficient company Be the leading Specialty underwriter, generating consistent top-quartile DBVPS growth for shareholders Strategic pillars

Executive Compensation: Focus on Pay for Performance

Aligning Executive Compensation and Performance 8 Our executive compensation program is designed to link pay to performance, requiring our leadership team to deliver on specific annual and long-term performance goals Pay Element Objectives / Description S h o rt -T e rm Base Salary • Fixed component of compensation that reflects level of responsibility and experience Annual Incentive • Motivates and rewards executives for Company and individual performance against annually established goals • Determined based on weightings of Company financial metric, business unit financial metric and individual non-financial metrics (strategic business goals) L o n g -T e rm RSUs • Fosters a culture of ownership, aligning long-term interests of our executives and shareholders • Vests ratably over a four-year period PSUs • Promotes accountability and strategic long-term decision-making • Beginning with 2024 grants, 50% of award based on relative total shareholder return (“rTSR”) and 50% based on adjusted book value per diluted common share (“Adjusted DBVPS”) growth • Prior awards determined solely on relative total shareholder return • Target