Company: FRFXF
Filing Date: 2025-03-14
Form Type: F-4
Source: 0001104659-25-024010
Chunk: 5

Company: FAIRFAX FINANCIAL HOLDINGS LTD/ CAN
Filing Date: 2025-03-14
Form: F-4
Chunk 5
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. The letter of transmittal
states that by so acknowledging and by delivering a prospectus, a broker-dealer will not be deemed to admit that it is an “underwriter”
within the meaning of the Securities Act. This prospectus, as it may be amended or supplemented from time to time, may be used by a broker-dealer
in connection with resales or transfers of Exchange Notes in the United States received in exchange for Initial Notes where Initial Notes
were acquired by such broker-dealer as a result of market-making or other trading activities. The Company has agreed that it will make
this prospectus available to any broker-dealer for use in connection with any such resale or transfer for a period that ends the earlier
of (i) 180 days after the date on which the Registration Statement (as defined herein) that includes this prospectus is declared
effective by the SEC, and (ii) the date on which participating broker-dealers are no longer required to deliver a prospectus in connection
with market-making or other trading activities. See “Plan of Distribution”.

Prospective investors should be aware that owning the Exchange Notes may subject you to tax consequences in each of the United States, Canada and Bermuda. This prospectus may not describe these tax consequences fully and such consequences for investors who are resident in, or citizens of, the United States may not be described fully herein. You should read the tax discussion in this prospectus.You should
consult your own counsel, accountant or other advisors for legal, tax, business, financial and related advice regarding the Exchange Offer.

The enforcement by investors of civil liabilities under U.S. federal or state securities laws or other laws of the United States may be affected adversely by the fact that the Company and Allied World are each formed outside the United States, that most of our directors and officers, as well as certain of the experts named in this prospectus, reside outside of the United States, and that many of our assets and the assets of such persons are located outside the United States.

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PRESENTATION OF FINANCIAL INFORMATION</div>

As the majority of our operations
are in the United States or conducted in U.S. dollars, we report our consolidated financial statements in U.S. dollars in order to provide
more meaningful information to users of our financial statements. Except where otherwise indicated, all dollar amounts in this prospectus
are expressed in U.S. dollars, references to “$”, “US$” and “dollars” are to