What changed 10-Q

Item 1A. Risk Factors

2020-11-09 compared with 2020-08-06 · 3 added, 2 removed, 26 unchanged (16% of the section changed)

14 unchanged sentences

Such policies or guidelines may be expanded over time as the economic effects of the pandemic become more well known.

To the extent such measures cause greater incidences of missed mortgage loan,

student loan or other debt service payments than would have occurred without governmental intervention, Ambac may experience higher losses in its insured portfolio of asset-backed securities.

To the extent such measures cause greater incidences of missed mortgage loan, student loan or other debt service payments than would have occurred without governmental intervention, Ambac may experience higher losses in its insured portfolio of asset-backed securities.

The ultimate impact of a catastrophic public health event like COVID-19 on issuers and their obligations, and the economy in general, is by its very nature uncertain, and will be determined by a number of factors including, but not limited to, the depth and duration of the crisis;

9 unchanged sentences

Potential ultimate losses from the economic consequences of the COVID-19 pandemic could be material and therefore may have an adverse effect on our results of operations and financial condition.

| Ambac Financial Group, Inc.

78 2020 Third Quarter FORM 10-Q |

Compared sentence by sentence after normalising whitespace, quotation marks, case and digits, so re-formatting and restated figures do not read as changed language. Wording changes appear as one removal and one addition. The current filing and the prior one are authoritative.