Exhibit 99.1 Ambac Reports First Quarter 2024 Results NEW YORK, NY, May 6, 2024 (BUSINESS WIRE) -- Ambac Financial Group, Inc. (NYSE: AMBC) ("Ambac" or "AFG"), a financial services holding company, today reported its results for the quarter ended March 31, 2024. First Quarter 2024 Highlights • Net income of $20 million or $0.43 per diluted share and Adjusted net income of $38 million or $0.82 per diluted share • Legacy Financial Guarantee segment generated net income of $20 million • Specialty P&C Insurance ...