ASSURED GUARANTY LTD — Director's Dealing 2017

May 11, 2017

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: ASSURED GUARANTY LTD (AGO)
CIK: 0001273813
Period of Report: 2017-05-10

Reporting Person: Albert Howard (Chief Risk Officer)

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2017-05-10	Common Shares	M	12000	$23.27	Acquired	169314.4953	Direct
2017-05-10	Common Shares	S	12000	$39.19	Disposed	157314.4953	Direct

Derivative Transactions

Date	Security	Exercise Price	Code	Shares	A/D	Expiration	Underlying	Ownership
2017-05-10	Options to Acquire Common Shares	$23.27	M	12000	Disposed	2018-02-14	Common Shares (12000)	Direct

Footnotes

F1: The Common Shares sold by the Reporting Person and reported herein were sold at a range of between $39.06 and $39.30 per share. The sale price reported above represents the weighted average sale price for the reported transaction and has been rounded to the nearest cent.

F2: Options vested as follows: 1/3 on 02/14/2009, 1/3 on 02/14/2010 and 1/3 on 02/14/2011.

F3: All options of this tranche have been exercised. The total number of options from other tranches with different exercise prices, vesting terms and expiration dates is 30,297(after taking into account 12,000 options exercised on 05/10/2017). The total number of performance share units from tranches with different performance measures, performance periods and vesting dates is 32,986.