Company: FRFXF
Filing Date: 2025-10-09
Form Type: F-10/A
Source: 0001104659-25-098335
Chunk: 53

Company: FAIRFAX FINANCIAL HOLDINGS LTD/ CAN
Filing Date: 2025-10-09
Form: F-10/A
Chunk 53
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. Accordingly, we cannot be sure that any active market for the Exchange Notes of either series will develop, or if one does develop, that it will be maintained. If an active market for the Exchange Notes of a series fails to develop or be sustained, the trading price of the Exchange Notes of such series could decline.

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TABLE OF CONTENTS

The Exchange Notes may be redeemed prior to maturity.

The Exchange Notes of either series may be redeemed, at our option, in whole at any time or in part from time to time on or after the closing of the applicable Exchange Offer and prior to the maturity date for the applicable Exchange Notes, or in whole but not in part in the event of certain developments affecting Canadian taxation. Holders of Exchange Notes of a series should assume that our redemption option will be exercised if it is in our interest to redeem the Exchange Notes of such series. Holders whose Exchange Notes are redeemed would not be entitled to participate in any future increase in the market price of the Exchange Notes of the relevant series and may not be able to reinvest their redemption proceeds in securities providing a comparable expected rate of return to maturity as the Exchange Notes of such series for a comparable level of risk. See “Description of the Notes — Optional Redemption” and “Description of the Notes — Redemption for Tax Reasons.”

#### Risk Factors Relating to the Exchange Offers
If you do not validly tender your Initial Notes, you will not receive Exchange Notes in the applicable Exchange Offer, and the resale restrictions applicable to the Initial Notes will continue to apply to those Initial Notes that are not validly exchanged.

Only Initial Notes that are validly tendered (and not validly withdrawn) will be exchanged in the applicable Exchange Offer and registered under the Securities Act.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 each Exchange Offer, certain registration and other rights under the Registration Rights Agreement will terminate. The Company will issue Exchange Notes only in exchange for Initial Notes of the applicable series 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