Company: FRFXF
Filing Date: 2025-03-14
Form Type: F-4
Source: 0001104659-25-024010
Chunk: 44

Company: FAIRFAX FINANCIAL HOLDINGS LTD/ CAN
Filing Date: 2025-03-14
Form: F-4
Chunk 44
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ly withdrawn) will be exchanged in the Exchange Offer and registered under the Securities Act. The
Initial Notes that are not so exchanged will continue to be subject to restrictions on transfer under applicable U.S. federal and state
securities laws, and while subject to such restrictions, may not be offered, sold or transferred in the United States except pursuant
to an exemption from the registration requirements of, or in a transaction not subject to, the Securities Act and applicable state securities
laws, or pursuant to an effective registration statement. Upon consummation of the Exchange Offer, certain registration and other rights
under the Registration Rights Agreement will terminate. We will issue Exchange Notes only in exchange for Initial Notes that are timely
received by the exchange agent, together with all required documents, including a properly completed and duly signed letter of transmittal
or book-entry confirmation or notice of guaranteed delivery. Therefore, you should allow sufficient time to ensure timely delivery of
the Initial Notes and should carefully follow the instructions on how to tender your Initial Notes.

We and the exchange agent
are not required to notify you of any defects or irregularities with respect to your tender of the Initial Notes. If you do not tender
your Initial Notes or if we do not accept your Initial Notes because you did not tender your Initial Notes properly, then, after consummation
of the Exchange Offer, you will continue to hold Initial Notes that are subject to existing transfer restrictions.

Although we may in the future
seek to acquire unexchanged Initial Notes in open market or privately negotiated transactions, through subsequent exchange offers or
otherwise, we have no present plans to acquire any unexchanged Initial Notes or to file with the SEC a shelf registration statement to
permit resales of any unexchanged Initial Notes. In addition, holders who do not tender their Initial Notes (except for the initial purchaser
or holders of Initial Notes (i) who are prohibited by applicable law or SEC policy from participating in the Exchange Offer, (ii) who
may not resell the Exchange Notes acquired in the Exchange Offer without delivering a prospectus or (iii) for whom this prospectus
is not appropriate or available for resales of Exchange Notes acquired in the Exchange Offer) will not have any further registration
rights and will not have the right to receive additional interest on their Initial Notes.

The market for the Initial Notes may be significantly more limited after the Exchange Offer.

Because we anticipate that
most holders of Initial Notes will elect to exchange their Initial Notes, it is likely that the liquidity