Authorization

Essent Group Ltd. Announces Offering of 11,000,000 Common Shares

Essent Group Ltd. (NYSE: ESNT) (the "Companya??) announced today that it has commenced a public offering in which it is offering 11,000,000 common shares (the "Offeringa??). The underwriters will have the option to purchase up to an aggregate of 1,650,000 additional common shares from the Company.


The Company intends to use the net proceeds from the Offering for general corporate purposes, which may include (i) capital contributions to support the Companya??s insurance subsidiaries, and (ii) paying down borrowings under the Companya??s lines of credit.


The offering is concurrent with the Companya??s addition to the S&P MidCap 400 Index, which will become effective prior to the open of trading on Monday, June 1, 2020. Index funds whose portfolios are primarily based on stocks included in the S&P MidCap 400 Index may be required to purchase shares as a result of the inclusion of the Companya??s common shares in the index. The offering is intended to be marketed to these index funds and to other investors, including non-index active investors. A portion of the total shares offered may be allocated to index funds.


The offering is being made through joint book-running managers Goldman Sachs & Co. LLC and J.P. Morgan Securities LLC.


The common shares are being offered pursuant to an effective shelf registration statement (including a base prospectus) under the Securities Act of 1933, as amended, that has been filed with the U.S. Securities and Exchange Commission (the "SECa??). Any offer, or solicitation to buy, if at all, will be made solely by means of a preliminary prospectus supplement and the accompanying base prospectus. Copies of the preliminary prospectus supplement and the accompanying prospectus may be obtained, when available, from the SECa??s website at www.sec.gov. Alternatively, when available, copies may be obtained from the prospectus departments of Goldman Sachs & Co. LLC, Attention: Prospectus Department, 200 West Street, New York, New York 10282, telephone: 1-866-471-2526, facsimile: 1-212-902-9316 or email: prospectus-ny@ny.email.gs.com; and J.P. Morgan Securities LLC, c/o Broadridge Financial Solutions, 1155 Long Island Ave., Edgewood, NY 11717, telephone: 1-866-803-9204.
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