Athene Holding Ltd. Announces the Pricing of an Offering of 30,000,000 Depositary Shares Representing an Interest in Series A Preference Shares

Athene Holding Ltd. (“Athene”) today announced the pricing of its public
offering of 30,000,000 depositary shares, each representing a 1/1,000th
interest in its 6.35% Fixed-to-Floating Rate Perpetual Non-Cumulative
Preference Shares, Series A, $1.00 par value and $25,000 liquidation
preference per share (equivalent to $25.00 per depositary share), for an
aggregate public offering price of $750,000,000. The offering is
expected to close on June 10, 2019, subject to satisfaction of customary
closing conditions. Athene intends to list the depositary shares on the
New York Stock Exchange (“NYSE”) under the ticker symbol “ATHPrA.”
Athene has granted the underwriters the option to purchase up to an
additional 4,500,000 depositary shares solely to cover over-allotments,
if any, within 30 days of the date of the prospectus supplement.

Athene intends to use the net proceeds from the offering for general
corporate purposes, including, but not limited to, funding commitments
in connection with transactions undertaken by Athene Co-Invest
Reinsurance Affiliate (“ACRA”), its previously-announced strategic
capital solution and repurchases of our class A common shares in the
secondary market to offset any near-term earnings dilution from the
issuance of Series A Preference Shares, in connection with this
offering. Morgan Stanley & Co. LLC, BofA Securities, Inc., UBS
Securities LLC and Wells Fargo Securities, LLC are acting as joint
book-running managers for the offering.

The depositary shares are being offered pursuant to an effective shelf
registration statement that has previously been filed with the
Securities and Exchange Commission (the “SEC”). Any offer, or
solicitation to buy, if at all, will be made solely by means of a
prospectus and related prospectus supplement filed with the SEC. You may
obtain these documents without charge from the SEC at www.sec.gov.
Alternatively, you may request copies of these materials from Morgan
Stanley & Co. LLC by telephone at 1-866-718-1649, BofA Securities, Inc.
by telephone at 1-800-294-1322, UBS Securities LLC by telephone at
1-888-827-7275 or Wells Fargo Securities, LLC by telephone at
1-800-645-3751.

This press release shall not constitute an offer to sell or a
solicitation of an offer to buy, nor shall there be any sale of these
securities in any state or jurisdiction in which such an offer,
solicitation, or sale would be unlawful prior to registration or
qualification under the securities laws of any such state or
jurisdiction.

About Athene Holding Ltd.

Athene, through its subsidiaries, is a leading retirement services
company that issues, reinsures and acquires retirement savings products
designed for the increasing number of individuals and institutions
seeking to fund retirement needs. The products offered by Athene include:

• Retail fixed and fixed indexed annuity products;
• Reinsurance arrangements with third-party annuity providers; and
• Institutional products, such as funding agreements and group annuity
  contracts related to pension risk transfers.

Athene had total assets of $132.9 billion as of March 31, 2019. Athene’s
principal subsidiaries include Athene Annuity & Life Assurance Company,
a Delaware-domiciled insurance company, Athene Annuity and Life Company,
an Iowa-domiciled insurance company, Athene Annuity & Life Assurance
Company of New York, a New York-domiciled insurance company and Athene
Life Re Ltd., a Bermuda-domiciled reinsurer.

Forward-Looking Statements

This press release contains, and certain oral statements made by our
representatives from time to time may contain, forward-looking
statements within the meaning of the Private Securities Litigation
Reform Act of 1995, Section 27A of the Securities Act of 1933, as
amended, and Section 21E of the Securities Exchange Act of 1934, as
amended. Such statements are subject to risks and uncertainties that
could cause actual results, events and developments to differ materially
from those set forth in, or implied by, such statements. These
statements are based on the beliefs and assumptions of Athene’s
management and the management of Athene’s subsidiaries. Generally,
forward-looking statements include actions, events, results, strategies
and expectations and are often identifiable by use of the words
“believe,” “expect,” “anticipate,” “plan” “seek,” “estimate,” “project,”
“may,” “will,” “could,” or “might,” or similar expressions. Factors that
could cause actual results, events and developments to differ include,
without limitation: the accuracy of our assumptions and estimates; our
ability to maintain or improve financial strength ratings; our ability
to manage our business in a highly regulated industry; regulatory
changes or actions; the impact of our reinsurers failing to meet their
assumed obligations; the impact of interest rate fluctuation; changes in
federal income tax laws and regulations; the accuracy of our
interpretation of the Tax Cuts and Jobs Act; litigation (including class
action litigation), enforcement investigations or regulatory scrutiny;
the performance of third parties; the loss of key personnel;
telecommunication, information technology and other operational systems
failures; the continued availability of capital; new accounting rules or
changes to existing accounting rules; general economic conditions; our
ability to protect our intellectual property; the ability to maintain or
obtain approval of the Delaware Department of Insurance, the Iowa
Insurance Division and other regulatory authorities as required for our
operations; and other factors discussed from time to time in Athene’s
filings with the SEC, including our annual report on Form 10-K for the
year ended December 31, 2018, quarterly report on Form 10-Q for the
quarter ended March 31, 2019, and current report on Form 8-K filed with
the SEC on June 5, 2019 which can be found on the SEC’s website www.sec.gov.

All forward-looking statements described herein are qualified by these
cautionary statements and there can be no assurance that the actual
results, events or developments referenced herein will occur or be
realized. We do not undertake any obligation to update or revise
forward-looking statements to reflect changed assumptions, the
occurrence of unanticipated events or changes to future operating
results.

View source version on businesswire.com: https://www.businesswire.com/news/home/20190605006039/en/