Ambac to Release Third Quarter 2022 Results on November 8, 2022

Conference Call Scheduled for November 9, 2022

Ambac Financial Group, Inc. (NYSE: AMBC), a financial services holding company, today announced that it will release third quarter 2022 results on November 8, 2022 following the close of the market.

Conference Call On November 9, 2022 at 8:30am (ET), Claude LeBlanc, President and Chief Executive Officer, and David Trick, Executive Vice President and Chief Financial Officer, will discuss third quarter 2022 results during a live conference call. A live audio webcast of the call will be available through the Investor Relations section of Ambac’s website, www.ambac.com. Participants may also listen via telephone by dialing [phone] (Domestic) or [phone] (International).

The webcast will be archived on Ambac's website. A replay of the call will be available through November 23, 2022 and can be accessed by dialing [phone] (Domestic) or [phone] (International), using ID# 13732815.

About Ambac Ambac Financial Group, Inc. (“Ambac” or “AFG”) is a financial services holding company headquartered in New York City. Ambac’s core business is a growing specialty P&C distribution and underwriting platform. Ambac also has a legacy financial guaranty business in run off. Ambac’s common stock trades on the New York Stock Exchange under the symbol “AMBC”. Ambac is committed to providing timely and accurate information to the investing public, consistent with our legal and regulatory obligations. To that end, we use our website to convey information about our businesses, including the anticipated release of quarterly financial results, quarterly financial, statistical and business-related information. For more information, please go to www.ambac.com.

The Amended and Restated Certificate of Incorporation of Ambac contains substantial restrictions on the ability to transfer Ambac’s common stock. Subject to limited exceptions, any attempted transfer of common stock shall be prohibited and void to the extent that, as a result of such transfer (or any series of transfers of which such transfer is a part), any person or group of persons shall become a holder of 5% or more of Ambac’s common stock or a holder of 5% or more of Ambac’s common stock increases its ownership interest.

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Investors: Charles J. Sebaski Managing Director, Investor Relations [phone] [e-mail]

Media: Kate Smith Director, Corporate Communications [phone] [e-mail]