Mr. Gregory Dickerson of AM Best reports

AM BEST ASSIGNS INDICATIVE ISSUE CREDIT RATINGS TO FAIRFAX FINANCIAL HOLDINGS LIMITED

AM Best has assigned indicative long-term issue credit ratings of A minus (excellent) to senior unsecured issues, BBB plus (good) to subordinated issues and BBB (good) to preferred stock to the recently filed shelf registration of Fairfax Financial Holdings Ltd. The outlook assigned to these credit ratings (ratings) is stable. Concurrently, AM Best has withdrawn the ratings on the previous shelf registrations, which expired. 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. 11, 2025. Since Fairfax qualifies as a "well-known seasoned issuer" in Canada, regulations do not impose a limit on the aggregate principal amount of securities that may be issued under this shelf registration. 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.

This news release relates to credit ratings that have been published on AM Best's website. For all rating information relating to the release and pertinent disclosures, including details of the office responsible for issuing each of the individual ratings referenced in this release, please see AM Best's recent rating activity website. For additional information regarding the use and limitations of credit rating opinions, please view the guide to Best's credit ratings. For information on the proper use of Best's credit ratings, Best's performance assessments, Best's preliminary credit assessments and AM Best news releases, please view the guide to the proper use of Best's ratings and assessments.

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.