Company: FRFXF
Filing Date: 2025-03-14
Form Type: F-4
Source: 0001104659-25-024010
Chunk: 59

Company: FAIRFAX FINANCIAL HOLDINGS LTD/ CAN
Filing Date: 2025-03-14
Form: F-4
Chunk 59
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 and address of the                                                     
 holder of Initial Notes and identifies the Initial Notes tendered, including the principal 
 amount of such Initial Notes;                                                              |

| (2) | states that the tender is being made 
 thereby; and                         |

| (3) | guarantees that within three business                                                       
 days after the Expiration Date, the letter of transmittal and any other documents required  
 by the letter of transmittal and certificates representing the Initial Notes in proper form 
 for transfer, or a book-entry confirmation, will be deposited by the eligible institution   
 with the exchange agent; and                                                                |

| · | a                                                                                         
 properly completed and executed letter of transmittal and any other documents required by 
 the letter of transmittal as well as certificates representing all tendered Initial Notes 
 in proper form for transfer, or a book-entry confirmation and agent’s message, are        
 received by the exchange agent within three business days after the Expiration Date.      |

Withdrawal of Tenders

Tenders of Initial Notes
may be withdrawn at any time prior to the Expiration Date.

| - 35 - |

For a withdrawal to be effective,
a written notice of withdrawal must be received by the exchange agent prior to the Expiration Date at the address set forth in the letter
of transmittal. Any such notice of withdrawal must:

| · | specify                                                                   
 the name of the person having tendered the Initial Notes to be withdrawn; |

| · | identify                                                                                 
 the Initial Notes to be withdrawn, including the principal amount of such Initial Notes; |

| · | in                                                                                           
 the case of Initial Notes tendered by book-entry transfer, specify the number of the account 
 at DTC from which the Initial Notes were tendered and specify the name and number of the     
 account at DTC to be credited with the withdrawn Initial Notes and otherwise comply with     
 the procedures of such facility;                                                             |

| · | contain                                                                                        
 a statement that such holder is withdrawing its election to have such Initial Notes exchanged; |

| · | be                                                                                             
 signed by the holder in the same manner as the original signature on the letter of transmittal 
 by which such Initial Notes were tendered including any required signature guarantees, or      
 be accompanied by documents of transfer to have the trustee with respect to the Initial Notes  
 register the transfer of the Initial Notes in the name of the person withdrawing the tender;   
 and                                                                                            |

| · | if                                                                                           
 certificates for Initial Notes have been transmitted, specify the name in which such Initial