Cannae Holdings, Inc. Announces Closing of Initial Public Offering of Austerlitz Acquisition Corporation II

Cannae Holdings, Inc. (NYSE:CNNE) (“Cannae” or the “Company”) previously announced that it has entered into a forward purchase agreement with Austerlitz Acquisition Corporation II (“ASZ”) in which Cannae will purchase shares of ASZ’s Class A ordinary shares in an aggregate share amount equal to 12,500,000 Class A ordinary shares, plus an aggregate of 3,125,000 redeemable warrants to purchase one Class A ordinary share at $11.50 per share, for an aggregate purchase price of $125.0 million, or $10.00 per Class A ordinary share and one-fourth of one warrant, in a private placement to occur concurrently with the closing of an initial business combination by ASZ. Additionally, Cannae invested $29.6 million in ASZ for 19,733,333 private placement warrants at the initial public offering. ASZ has completed its initial public offering of 138,000,000 units, which includes 18,000,000 units issued upon the exercise of the underwriters’ over-allotment option, which was exercised in full, at a price of $10.00 per unit. The units are listed on the New York Stock Exchange (the "NYSE") and trade under the ticker symbol “ASZ.U”. Each unit consists of one of ASZ’s Class A ordinary shares and one-fourth of one warrant. Each whole warrant entitles the holder to one of ASZ’s Class A ordinary shares at a price of $11.50 per share. Once the securities comprising the units begin separate trading, the Class A ordinary shares and warrants are expected to be listed on the NYSE under the symbols “ASZ” and “ASZ WS,” respectively.

The Sponsor of ASZ is Austerlitz Acquisition Sponsor, LP II, an affiliate of Trasimene Capital Management, LLC, led by William P. Foley, II. Cannae has an approximately 20% limited partnership interest in Austerlitz Acquisition Sponsor, LP II and an indirect economic interest in 20% of the founder shares, which equates to an indirect economic interest in approximately 3.0% of the outstanding ordinary shares after this offering.

Credit Suisse Securities (USA) LLC, J.P. Morgan Securities LLC and BofA Securities are acting as joint book-running managers for the offering.

The offering was made only by means of a prospectus. Copies of the prospectus may be obtained, for free by visiting EDGAR on the SEC’s website at www.sec.gov. Alternatively, copies of the prospectus may be obtained for free from the offices of Credit Suisse Securities (USA) LLC, Attention: Prospectus Department, 6933 Louis Stephens Drive, Morrisville, North Carolina 27560, telephone: [phone] or by emailing: [e-mail]; J.P. Morgan Securities LLC c/o Broadridge Financial Solutions, 1155 Long Island Avenue, Edgewood, New York 11717, telephone: [phone], or by emailing: [e-mail]; or BofA Securities. Attention: Prospectus Department, NC1-004-03-43, 200 North College Street, 3rd floor, Charlotte NC 28255-0001 or by emailing: [e-mail]. The offering is subject to market and other conditions, and there can be no assurance as to whether or when the offering may be completed.