Company: FRFXF
Filing Date: 2025-10-01
Form Type: F-10
Source: 0001104659-25-095645
Chunk: 60

Company: FAIRFAX FINANCIAL HOLDINGS LTD/ CAN
Filing Date: 2025-10-01
Form: F-10
Chunk 60
---
 December 31, 2024, respectively. Our consolidated net earnings before interest expense on borrowings and income taxes for the twelve-month periods ended June 30, 2025 and December 31, 2024 were $7.0 billion and $6.2 billion, respectively, which was 9.7 and 9.5 times our consolidated interest expense on borrowings and preferred share dividend requirements for the twelve month periods ended June 30, 2025 and December 31, 2024, respectively. After giving effect to the adjustments as described above as of the beginning of the periods, our consolidated interest expense on borrowings would have amounted to $690.4 million and $672.1 million for the twelve-month periods ended June 30, 2025 and December 31, 2024, respectively.

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After giving effect to the adjustments as described above as of the beginning of the periods, our consolidated net earnings before interest expense on borrowings and income taxes for the twelve-month periods ended June 30, 2025 and December 31, 2024 would have been $7.0 billion and $6.2 billion, respectively, which was 9.5 and 8.8 times our consolidated interest expense on borrowings and preferred share dividend requirements for the twelve-month periods ended June 30, 2025 and December 31, 2024, respectively.

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### THE EXCHANGE OFFERS

#### Terms of the Exchange Offers

#### General
In connection with the issuance of the Initial Notes, the Company entered into the Registration Rights Agreement with the initial purchasers of the Initial Notes. The following contains a summary of the provisions contained in the Registration Rights Agreement. Because this is a summary description, it does not contain all of the information that may be important to an investor in the Exchange Notes and is qualified in its entirety by the Registration Rights Agreement. We refer you to the Registration Rights Agreement, which has been filed as an exhibit to the Registration Statement of which this short form prospectus forms a part.

Under the Registration Rights Agreement, the Company agreed to file under the Securities Act and use its commercially reasonable efforts to cause to become effective under the Securities Act, on or prior to 360 days after the closing of the offering of each series of Initial Notes, a registration statement with respect to a registered offer to exchange the Initial Notes of a series for Exchange Notes of the same series. The