Mail: PO Box HM 666, Hamilton HM CX, Bermuda

T +1 441 295 1422

Matter No.: 354198

+1 441 299 4968

jennifer.panchaud@conyers.com

copies of the memorandum of association and the bye-laws of the Company, each certified by the Assistant Secretary of the Company on 12 July 2021;

copies of minutes of meetings of its directors held on 1 May 2002, 14-15 May 2019 and 5 February 2021, and minutes of a meeting of its offerings committee of the board of directors of the Company held on 5 July 2021 and a written officer confirmation dated 12 July 2021 (together, the “Resolutions”) each certified by the Assistant Secretary of the Company on 12 July 2021; and

such other documents and made such enquiries as to questions of law as we have deemed necessary in order to render the opinion set forth below.

ASSUMPTIONS

the genuineness and authenticity of all signatures and the conformity to the originals of all copies (whether or not certified) examined by us and the authenticity and completeness of the originals from which such copies were taken;

that where a document has been examined by us in draft form, it will be or has been executed and/or filed in the form of that draft, and where a number of drafts of a document have been examined by us all changes thereto have been marked or otherwise drawn to our attention;

the accuracy and completeness of all factual representations made in the Registration Statement, the Prospectus and other documents reviewed by us;

that the Resolutions were passed at one or more duly convened, constituted and quorate meetings, or by unanimous written resolutions, remain in full force and effect and have not been rescinded or amended;

that the Constitutional Documents will not be amended in any manner that would affect the opinions expressed herein;

that there is no provision of the law of any jurisdiction, other than Bermuda, which would have any implication in relation to the opinions expressed herein;

that upon issue of any Shares to be sold by the Company the Company will receive consideration for the full issue price thereof which shall be equal to at least the par value thereof; and

that on the date of issuance of the Shares, the Company will be able to pay its liabilities as they become due.

QUALIFICATIONS

We have made no investigation of and express no opinion in relation to the laws of any jurisdiction other than Bermuda.

This opinion is to be governed by and construed in accordance with the laws of Bermuda and is limited to and is given on the basis of the current law and practice in Bermuda.

This opinion is issued solely for the purposes of the filing of the Prospectus and the offering of the Shares by the Company and is not to be relied upon in respect of any other matter.

OPINION

The Company is duly incorporated and existing under the laws of Bermuda in good standing (meaning solely that it has not failed to make any filing with any Bermuda governmental authority under the Companies Act 1981, or to pay any Bermuda government fee or tax, which would make it liable to be struck off the Register of Companies and thereby cease to exist under the laws of Bermuda)

When issued and paid for as contemplated by the Prospectus, the Shares (as represented by the Depositary Shares) will be validly issued, fully paid and non-assessable (which term means when used herein that no further sums are required to be paid by the holders thereof in connection with the issue of such shares).