Company: FRFXF
Filing Date: 2025-03-26
Form Type: 424B3
Source: 0001104659-25-028272
Chunk: 57

Company: FAIRFAX FINANCIAL HOLDINGS LTD/ CAN
Filing Date: 2025-03-26
Form: 424B3
Chunk 57
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 maintained
with DTC after the expiration or termination of the Exchange Offer.

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Book-Entry Transfer

The exchange agent has established
accounts with respect to the Initial Notes at DTC for purposes of the Exchange Offer. Any financial institution that is a participant
in DTC’s systems may make book-entry delivery of Initial Notes by causing DTC to transfer such Initial Notes into the exchange agent’s
account at DTC in accordance with DTC’s procedures for transfer. However, although delivery of Initial Notes may be effected through
book-entry transfer at DTC, the exchange agent must receive a properly completed and duly executed letter of transmittal with any required
signature guarantees and all other required documents at its address listed in the letter of transmittal, or an agent’s message
instead of a letter of transmittal, on or before the Expiration Date, or if the holder complies with the guaranteed delivery procedures
described below within the time period provided under those procedures.

Exchanging Book-Entry Notes

DTC has confirmed that any
financial institution that is a participant in DTC may utilize DTC’s Automated Tender Offer Program (“ATOP”)
procedures to tender Initial Notes.

Any participant in DTC may
make book-entry delivery of Initial Notes by causing DTC to transfer such Initial Notes into the exchange agent’s account in accordance
with DTC’s ATOP procedures for transfer. However, the exchange for the Initial Notes so tendered will only be made after a book-entry
confirmation of the book-entry transfer of Initial Notes into the exchange agent’s account and timely receipt by the exchange agent
of an agent’s message and any other documents required by the letter of transmittal. The term “agent’s message”
means a message, transmitted by DTC and received by the exchange agent and forming part of a book-entry confirmation, which states that
DTC has received an express acknowledgment from a participant tendering Initial Notes that are the subject of such book-entry confirmation,
that such participant has received and agrees to be bound by the terms of the letter of transmittal and that the Company may enforce such
agreement against such participant.

Guaranteed Delivery Procedures

If the procedures for book-entry
transfer cannot be completed on a timely basis, a tender may be effected if:

| · | the tender is made through an eligible institution; |

| · | prior to the Expiration Date, the exchange agent receives by mail or hand delivery from such