Company: FRFXF
Filing Date: 2025-03-14
Form Type: F-4
Source: 0001104659-25-024010
Chunk: 48

Company: FAIRFAX FINANCIAL HOLDINGS LTD/ CAN
Filing Date: 2025-03-14
Form: F-4
Chunk 48
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 customer and employee information. Cyberattacks resulting in political, economic,
social or financial market instability or damage to or interference with our assets, or our customers or suppliers may result in business
interruptions, lost revenue, higher commodity prices, disruption in fuel supplies, lower energy consumption, unstable markets, increased
security and repair or other costs, any of which may affect our consolidated financial results. Furthermore, instability in the financial
markets as a result of terrorism, sustained or significant cyberattacks, or war could also materially adversely affect our ability to
raise capital.

We have taken steps intended
to mitigate these risks, including implementation of cybersecurity and cyber resilience measures, business continuity planning, disaster
recovery planning and business impact analysis, and regularly update these plans and security measures, however, there can be no assurance
that such steps will be adequate to protect us from the impacts of a cyberattack.

We may continue to be adversely impacted by the conflicts in Ukraine and Israel and the development of other geopolitical events and economic disruptions worldwide.

Supply chain disruptions
and volatility in commodity prices persist in many regions of the world, contributing to increased inflationary pressures, worsened by
supply shocks arising from the conflicts in Ukraine and Israel and other geopolitical events worldwide. In response, central banks around
the world had aggressively raised interest rates in an effort to ease rising inflation. Our business relies, to a certain extent, on
free movement of goods, services and capital from around the world, and as a result, are facing upward cost pressures. Given the ongoing
and dynamic nature of the circumstances surrounding the conflicts in Ukraine and Israel, and other geopolitical events worldwide, it
is difficult to predict how significant these continuing events or the occurrence of any similar events will be on the global economy
and our businesses, investments and employees, or for how long any further disruptions in the future are likely to continue. Such further
developments could have a material adverse effect on our business, financial condition, results of operations, profitability or cash
flows.

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<div align='center'>USE OF PROCEEDS</div>

Neither the Company nor
Allied World will receive any cash proceeds from the issuance of the Exchange Notes. We are making the Exchange Offer solely to satisfy
our obligations under the Registration Rights Agreement entered into in connection with the offering of the Initial Notes. In consideration
for issuing the Exchange Notes, we will receive Initial Notes in the same aggregate principal amount. We have agreed to pay the expenses
of the Exchange Offer,