Mr. Gregory Dickerson reports

AM BEST ASSIGNS INDICATIVE ISSUE CREDIT RATINGS TO FAIRFAX FINANCIAL HOLDINGS LIMITED'S NEW SHELF REGISTRATION

AM Best has assigned indicative long-term issue credit ratings of bbb+ (good) to senior unsecured debt, bbb (good) to subordinated debt and bbb- (good) to preferred stock of the short-form base prospectus filed on Oct. 11, 2023, of Fairfax Financial Holdings Ltd. The outlook assigned to these credit ratings is stable. The existing ratings of Fairfax and its insurance subsidiaries are unchanged.

The assigned ratings for securities that may be issued under the shelf registration statement are consistent with the current ratings of Fairfax's outstanding securities. The new base shelf prospectus replaces Fairfax's previous shelf registration, which was set to expire on Nov. 8, 2023. Since Fairfax qualifies as a "Well-Known Seasoned Issuer" in Canada, new regulations have removed the $8-billion cap imposed on prior shelf registrations. Consequently, the indicative long-term IRs for the previous shelf registration have been withdrawn. The company's financial leverage and coverage ratios are within AM Best's guidelines for Fairfax's current ratings and are expected to remain so over the near term.

AM Best is a global credit rating agency, news publisher and data analytics provider specializing in the insurance industry. Headquartered in the United States, the company does business in over 100 countries with regional offices in London, Amsterdam, Dubai, Hong Kong, Singapore and Mexico City.