Company: FRFXF
Filing Date: 2025-03-26
Form Type: 424B3
Source: 0001104659-25-028272
Chunk: 99

Company: FAIRFAX FINANCIAL HOLDINGS LTD/ CAN
Filing Date: 2025-03-26
Form: 424B3
Chunk 99
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ings Limited, and not its subsidiaries, and the term “Allied World” refers to Allied World Assurance Company Holdings, Ltd.
The Company issued the Initial Notes under an indenture, dated as of December 1, 1993, as supplemented and amended by the first
supplemental indenture dated May 9, 2011 and the Third Supplemental Indenture (as amended, the “Base Indenture”),
among the Company, The Bank of New York Mellon, as successor U.S. trustee (the “U.S. trustee” or the “trustee”),
and Computershare Advantage Trust of Canada (formerly BNY Trust Company of Canada) (as successor trustee to CIBC Mellon Trust Company),
as successor Canadian trustee (the “Canadian trustee” and, together with the U.S. Trustee, the “trustees”)
in a private transaction that was not subject to the registration requirements of the Securities Act. On July 19, 2024, the Company
entered into the fourth supplemental indenture by and among the Company, Allied World, and the trustee (the “Fourth Supplemental Indenture”) to add Allied World as a Co-Obligor (as defined herein) of the Initial Notes in accordance with the terms of the
Initial Notes, and on March 14, 2025, the Company and Allied World entered into the fifth supplemental indenture by and among the
Company, Allied World, and the trustee (the “Fifth Supplemental Indenture” and together with the Base Indenture and
the Fourth Supplemental Indenture, the “Indenture”) to amend the Base Indenture to comply with the Trust Indenture
Act (as defined below) without regard to the exemption provided by Rule 4d-9 thereunder.

The Company and Allied World
have agreed to offer to exchange the Initial Notes for a new issue of substantially identical debt securities (as previously defined
as the Exchange Notes) registered under the Securities Act. The issuance of the Exchange Notes in the Exchange Offer (together with any
Initial Notes that are not tendered and accepted for purchase) is limited to $600 million. The Exchange Notes, together with any Initial
Notes that remain outstanding after the closing of the Exchange Offer, are referred to herein as the “Notes”.

The Notes bear interest
from the date of issuance at the rate of 6.100% per annum and will mature on March 15, 2055. Interest is payable