Argo Sends Letter to Shareholders

Argo Group International Holdings, Ltd. (NYSE: ARGO), an international underwriter of specialty insurance and reinsurance products in the property and casualty market, today sent the following letter from the independent directors of Argo’s Board of Directors to Argo’s shareholders.

Additional information regarding the Annual General Meeting, including detailed instructions on how to vote by telephone or internet, is available at https://www.argolimited.com/investors/.

Dear Shareholders,

We are pleased to note that the leading independent proxy advisory firm, Institutional Shareholder Services (ISS), has recommended that Argo shareholders vote FOR all five of Argo’s nominees and AGAINST all of Voce’s nominees. ISS concluded that Voce failed to make a case for its slate of nominees, “particularly given the company's strong performance and a thoughtful [Board] refreshment process that has resulted in the addition of appropriate skill sets to the Board over the past two years.” ¹

In making its recommendation, ISS highlighted that “the company has delivered strong TSR over the short- and long-term and has demonstrated good overall governance.” ISS also noted that Argo’s Board’s “ongoing refreshment process…incorporates active, contributing, and additive Board members.”

We urge you to vote TODAY on the WHITE proxy card FOR ALL of the Argo nominees in proposal 1 and AGAINST each of proposals 5 through 12, which are Voce’s proposals to remove and replace Argo’s highly qualified directors with Voce’s nominees.

Over the past several months, we have shared with you how our directors’ robust oversight is enhanced by your Board’s commitment to ongoing refreshment practices that ensure the Board has the right skill set to drive continuous performance improvements that we believe will deliver best-in-class shareholder returns. We have detailed the merits of our distinctive specialty insurance franchise, built by our management team, overseen by your Board of Directors and predicated on underwriting excellence, prudent investment management and thoughtful capital allocation. We have provided you with objective facts and reasoned analysis, not “flashy diatribe.”