Mr. John Varnell reports

FAIRFAX ANNOUNCES PRICING OF SENIOR NOTES OFFERING

Fairfax Financial Holdings Ltd. has priced a private offering of $1-billion (U.S.) of senior notes due 2054 at an issue price of 99.734 per cent. The notes will be unsecured obligations of Fairfax Financial and will pay a fixed rate of interest of 6.350 per cent per annum. Fairfax Financial also intends to enter into a registration rights agreement in connection with the offering.

Fairfax Financial intends to use the net proceeds of this offering for general corporate purposes. The offering is expected to close on or about March 22, 2024, subject to the satisfaction of customary conditions.

The offering is being made solely by means of a private placement either to qualified institutional buyers pursuant to Rule 144A under the U.S. Securities Act of 1933, as amended, or to certain non-U.S. persons in offshore transactions pursuant to Regulation S under the securities act. The notes have not been registered under the securities act, and the notes may not be offered or sold in the United States absent registration or an applicable exemption from the registration requirements of the securities act. The notes have not been and will not be qualified for sale under the securities laws of any province or territory of Canada, and may not be offered or sold directly or indirectly in Canada or to or for the benefit of any resident of Canada, except pursuant to applicable prospectus exemptions.

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

We seek Safe Harbor.