Company: FRFXF
Filing Date: 2025-03-26
Form Type: 424B3
Source: 0001104659-25-028272
Chunk: 134

Company: FAIRFAX FINANCIAL HOLDINGS LTD/ CAN
Filing Date: 2025-03-26
Form: 424B3
Chunk 134
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 of the Notes should consult their own tax advisors as to the tax consequences to them of acquiring, holding and disposing of the Notes in their particular circumstances, including the application and effect, if any, of the income and other tax laws of any province, territory, state or local tax authority or foreign jurisdiction.

For the purposes of the
Canadian Tax Act, the exchange of the Initial Notes for the Exchange Notes pursuant to the Exchange Offer should not constitute a taxable
transaction.

Amounts paid or credited,
or deemed to be paid or credited, as, on account or in lieu of payment of, or in satisfaction of, the principal of the Exchange Notes
or premium, discount or interest on the Exchange Notes by the Company to a Non Resident Holder, including 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.

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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will exchange all Initial Notes that are validly tendered and not validly withdrawn for an equal principal amount of Exchange Notes that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