12 th Annual Meeting

1. 12th Annual Meeting Miami, Florida May 12, 2010 Annual Business Meeting

2. ANTITRUST STATEMENT FOR THE WEATHER RISK MANANGEMENT ASSOCIATION • In order to guard against unintentional violations of the antitrust laws, the following topics shall not be discussed at any time during the WRMA meetings, whether as part of a formal meeting, a large group discussion or in any private conversations: • Price fixing • Exclusionary practices (customer and markets) • Other discussions or agreements resulting in restraint of trade • The principal federal antitrust law is a criminal conspiracy statute. • Violators can be subject to mandatory jail terms. For your own protection and that of WRMA, compliance with these discussion rules is mandatory.

3. 2009/2010 Year in Review Highlights North America • WRMA delegation visited Congress to educate about the weather risk industry in face of financial reform legislation • Continue to reach out to associations and end-users to educate them about our industry - Continue to liaise with NOAA

4. 2009/2010 Year in Review Highlights Europe • Held successful meeting in Paris, France • Continue to monitor EU directives impacting industry (IASB) • Broadening our reach to include new entrants

5. 2009/2010 Year in Review Highlights Asia/Pacific • Completed first industry survey of Indian weather market • Outreach to the burgeoning Australian weather industry • Hosted Chinese delegation of meteorologists

6. 2009/2010 Year in Review Highlights • Overall Industry - Developed improved weather risk and agriculture section on WRMA website - Publish WRMA weekly news summary for members only - New enhanced Industry Survey in development - Monitor outcome of Supreme Court decision - Continue to update website, highlighting member company news - Plans underway for 2010 meeting in Australia

7. 2009/2010 Year in Review Highlights WRMA in the News WRMA and WRMA members have been subjects of news stories on: • Environmental Finance • Energy Risk, Risk & Insurance • The Public Ledger • The Australian, Business Review Weekly • Bloomberg, • RIMS Magazine • Farm Journal’s Top Producer • World Finance • Storm Investor and Reuters.

8. Treasurer’s Report WRMA remains financially sound

9. Treasurer’s Report • Statement of Activity 2009: 12/31/09Budget • Revenue $262K $239K • Expense $297K$261K • Budget net loss $($35K) $($23K) • Net Assest 2008 $168 $168 • Total Net Assets $134K $145K

10. Treasurer’s Report • Income Statement Summary: • Budgeted 2010 Revenues $281K • Budgeted 2010 Expenses $267K 1/1/03 - 3/31/03 • Actual 1Q 2010 Revenues $20,953 • Budgeted 2010 Revenues $281K • Actual 1Q 2010 Expenses $42K • Budgeted 2010 Expenses $267K

11. WRMA’s 12th Annual Meeting Election of Directors

12. WEATHER RISK MANAGEMENT ASSOCIATION2010/2011 SLATE OF DIRECTORS • Nominating Committee: Marty Malinow, Kendall Johnson and Sandeep Ramachandran • Request for Nominations went to the Membership for input • Committee Reviewed nominations received in conjunction with the composition of membership in terms of: • industry sector • geographical representation • overall stakeholder in industry • Based on the above criteria, the following is the proposed slate:

13. WRMA 2010/2011 SLATE OF DIRECTORS Remaining as Directors for terms of one year: Director Catherine Besselman Endurance Re Director Peter Brewer PCE Investors/Cumulus Director Sandeep Ramachandran Swiss Re Elected as Directors for terms of one year: Director Nick Ernst Evolution Markets Director Larry Heitkemper MDA EarthSat Weather Proposed Two-Year Terms: Director Jens Boening EDF Trading Director Richard Betts E.ON Energy Trading Director Stephen Doherty Speedwell Weather Derivatives Director Christina Hanson Chicago Mercantile Exchange Director Martin Malinow Galileo Weather Risk Management Director Bill Windle RenRe Energy Advisors Ltd.

14. WRMA 2010/2011 SLATE OF DIRECTORS In accordance with the bylaws, the Directors will elect from among themselves the Officers. The proposed slate of Officers from the new Board of Directors are: Proposed Officers: President Bill Windle, RenRe Energy Advisors Ltd. Vice President Christina Hanson, Chicago Mercantile Exchange Treasurer Sandeep Ramachandran, Swiss Re Past President Martin Malinow, Galileo Weather Risk Management

15. The PR Motto for 2010 is Grow the Business

16. WRMA PR 2009-2010Media Coverage Over the past 12 months, WRMA has successfully pitched stories to journalists around the world.

17. Stories about WRMA and its Members have appeared in: • Australia’s Business Review Weekly • The Australian • Energy Risk • Futures Industry Magazine • Top Producer • Risk & Insurance • Chile’s Diario Financiero

18. Growing the Business • To broaden WRMA’s reach and to drive more traffic to the WRMA website, external PR in 2010 will focus on seasonal pitches to smaller, targeted publications. Country specific as well as trade publications will be pitched. •  For most of these publications, the idea of weather risk management will be novel and worthy of attention. We’ll be able to reach potential customers of weather risk management services, which likely will have a tangible benefit for our members. WRMA will be helping the weather risk market grow.

19. Publicizing WRMA’s Mission WRMA disseminates news about its efforts on behalf of the weather risk industry to the press and outside organizations

20. Publicizing WRMA’s Mission Spreading the word with articles and ads

21. Articles • Risk Management Magazine • The Public Ledger • World Finance Ads • Trading Risk’s Global Energy Review • First Enercast Financial • Storm Investor

22. WRMA’s Marketing Committee • The Committee is responsible for producing the new Weather Risk and Agriculture section on WRMA Website • The new section is designed to raise awareness of weather risk management tools for the agriculture sector. • Announcements about the new section are being sent to agricultural groups around the world.

23. The Weather Risk and Agriculture section can be found at http://www.wrma.org/risk_agriculture.html

24. WRMA’s Marketing Committee The Committee is Bill Windle - RenRe, Catherine Besselman - Endurance Re, Harini Kannan – Swiss Re, Jean Christophe Garaix – Paris Re and Shirley Savage – WRMA Thank you for your hard work on this project!

25. WRMA Weekly News Summary • The Weekly News Summary is a members-only service, highlighting stories that may be of interest to the weather risk market. • This weekly mailing is read by a large percentage of the membership and is often forwarded on to others.

27. WRMA Weekly News Summary • For example, the April 8, 2010 Weekly News Summary was opened by 54 people, read by 105 people and there were 39 clickthroughs to the links. • This shows that the Weekly News Summary is finding articles of interest to the membership.

28. WRMA Member Outreach • One of the benefits of WRMA membership is the Association’s public relations efforts on behalf of the weather risk industry. • This year we want to leverage our members’ stories and activities to promote the industry. •  All member companies will be contacted as part of this initiative.

29. WRMA Member Outreach • So far 35% of the membership has been contacted. • Response has been very positive to this initiative. • What can WRMA do to help promote your company? Suggestions/ideas are welcome!

30. WRMA Meetings Mark Your Calendars 2010 European Meeting - September 15-17 Krakow, Poland 2011 Australian Meeting (Feb/Mar) 2011 Annual Meeting - TBD