ASSURED GUARANTY LTD — Director's Dealing 2016

Feb 9, 2016

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: ASSURED GUARANTY LTD (AGO)
CIK: 0001273813
Period of Report: 2016-02-07

Reporting Person: Albert Howard (Chief Risk Officer)

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2016-02-07	Common Shares	F	1047	$23.73	Disposed	128412.4953	Direct
2016-02-07	Common Shares	M	4699	$0.00	Acquired	133111.4953	Direct
2016-02-07	Common Shares	F	1731	$23.73	Disposed	132353.4953	Direct

Derivative Transactions

Date	Security	Exercise Price	Code	Shares	A/D	Expiration	Underlying	Ownership
2016-02-07	Performance Share Units	$0.00	M	2750	Disposed		Common Shares (2750)	Direct

Footnotes

F1: Common Shares being withheld to pay tax liability.

F2: Performance share units awarded pursuant to the Assured Guaranty 2004 Long-Term Incentive Plan (the "Plan"). Using the highest 40-day average stock price during the performance period (1/1/13 to 12/31/2015), 170.88% of the performance share units granted became vested. The number of Common Shares delivered equals the number of performance share units granted multiplied by 170.88%.

F3: Total includes 490 shares purchased on 06/30/2015 and 483 shares purchased on 12/31/2015 pursuant to the Assured Guaranty Ltd. Employee Stock Purchase Plan which meets the requirements of Rule 16b-3.

F4: Total includes performance share units from other tranches with different performance measures, performance periods and vesting dates. This total does not include 58,297 outstanding options (after taking into account 15,000 options that expired on February 2, 2016).