Mr. Paul Rivett reports

FAIRFAX FINANCIAL AND ALLIED WORLD ANNOUNCE SHORT TWO-DAY EXTENSION

Pursuant to the agreement and plan of merger dated as of Dec. 18, 2016, between Fairfax Financial Holdings Ltd. and Allied World Assurance Company Holdings AG, the offering period of the previously announced exchange offer to purchase all of the issued and outstanding ordinary shares of Allied World has been extended. The exchange offer, which was previously scheduled to expire at 11:59 p.m. New York time on June 30, 2017, has been extended until 5 p.m. New York time on Wednesday, July 5, 2017, unless further extended in accordance with the merger agreement and the applicable rules and regulations of the Securities and Exchange Commission.

Since receiving the 88.1-per-cent tender result described below, Fairfax has spoken with an Allied World shareholder group representing more than 3 per cent of the outstanding shares that has indicated it will now tender before the extended tender deadline. As a result, the company fully expects to have significantly more than 90 per cent of the shares tendered by the extended tender deadline and to accept the tendered shares for payment on Thursday, July 6, 2017.

Continental Stock Transfer & Trust Company, the exchange agent for the offer, has indicated that, as of 11:59 p.m. on June 30, 2017, 77,183,520 shares (including 10,253,467 shares tendered by guaranteed delivery) had been tendered into and not properly withdrawn from the exchange offer, representing approximately 88.1 per cent of the outstanding shares. Shareholders who have already tendered their shares do not have to retender their shares or take any other action as a result of the extension of the expiration date of the exchange offer.

Georgeson LLC is the information agent for the exchange offer and any questions or requests for the prospectus, letter of transmittal and related materials with respect to the exchange offer may be directed to the agent, toll-free at 800-248-7690.

About Fairfax Financial Holdings Ltd.

Fairfax is a holding company which, through its subsidiaries, is engaged in property and casualty insurance and reinsurance and investment management.

We seek Safe Harbor.