Company: FRFXF
Filing Date: 2025-03-26
Form Type: 424B3
Source: 0001104659-25-028272
Chunk: 47

Company: FAIRFAX FINANCIAL HOLDINGS LTD/ CAN
Filing Date: 2025-03-26
Form: 424B3
Chunk 47
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 breach of privacy laws, expose us to remediation costs, reputational damage, regulatory scrutiny,
litigation and adversely affect our results of operations, financial condition and liquidity.

Cyberattacks, including those
perpetrated through the use of artificial intelligence, could further adversely affect our ability to operate facilities, information
technology and business systems, or compromise confidential 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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USE OF PROCEEDS</div>

Neither the Company nor Allied
World will receive any cash proceeds from the issuance of the