Company: FRFXF
Filing Date: 2025-03-14
Form Type: F-4
Source: 0001104659-25-024010
Chunk: 135

Company: FAIRFAX FINANCIAL HOLDINGS LTD/ CAN
Filing Date: 2025-03-14
Form: F-4
Chunk 135
---
 in respect of a redemption of
the Exchange Notes, will be exempt from Canadian withholding tax.

No other taxes on income
(including taxable capital gains) will be payable under the Canadian Tax Act by a Non Resident Holder in respect of the ownership or disposition
of the Exchange Notes.

<div align='center'>- 75 -

PLAN OF DISTRIBUTION</div>

The Company issued $600 million
principal amount of Initial Notes on June 24, 2024 pursuant to a private offering that was underwritten by BofA Securities, Inc., J.P.
Morgan Securities LLC, Citigroup Global Markets Inc. and BMO Capital Markets. On July 19, 2024, Allied World was added as a Co-Obligor
of the Initial Notes in accordance with the terms of the Initial Notes, following which the Company remains a full and unconditional Co-Obligor
in respect of the Notes for all purposes under the Indenture. If all the conditions of the Exchange Offer are satisfied, we will exchange
all Initial Notes that are validly tendered and not validly withdrawn for an equal principal amount of Exchange Notes that have been registered
under the Securities Act.

Any broker-dealer that resells
or transfers Exchange Notes in the United States that were received by it for its own account pursuant to the Exchange Offer in exchange
for Initial Notes acquired by such broker-dealer as a result of market-making or other trading activities and any broker or dealer that
participates in a distribution of such Exchange Notes may be deemed to be an “underwriter” within the meaning of the Securities
Act, and any profit of any such resale or transfer of Exchange Notes and any commissions or concessions received by any such persons may
be deemed to be underwriting compensation under the Securities Act. Accordingly, each such broker-dealer must acknowledge that it will
deliver, and must deliver, a prospectus meeting the requirements of the Securities Act in connection with any resale or transfer of such
Exchange Notes in the United States. The letter of transmittal states that by acknowledging that it will deliver, and by delivering, such
a prospectus, a broker-dealer will not be deemed to admit that it is an “underwriter” within the meaning of the Securities
Act.

This prospectus, as it may
be amended or supplemented from time to time, may be used by a broker-dealer in connection with resales or transfers in the United States
of Exchange Notes received in exchange for Initial Notes where such Initial Notes were