# EDGAR Filing Document

**Accession Number:** 0001794846
**File Stem:** 0001193125-23-082125
**Filing Date:** 2023-3
**Character Count:** 72836
**Document Hash:** 7fa658048b760be5c5c8784fc59620f8
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0001193125-23-082125.hdr.sgml**: 20230328

**ACCESSION NUMBER**: 0001193125-23-082125

**CONFORMED SUBMISSION TYPE**: SC 13E3/A

**PUBLIC DOCUMENT COUNT**: 4

**FILED AS OF DATE**: 20230328

**DATE AS OF CHANGE**: 20230328

**GROUP MEMBERS**: ALLIED WORLD ASSURANCE CO (EUROPE) DAC

**GROUP MEMBERS**: ALLIED WORLD ASSURANCE CO (U.S.) INC.

**GROUP MEMBERS**: ALLIED WORLD ASSURANCE COMPANY, AG

**GROUP MEMBERS**: ALLIED WORLD ASSURANCE COMPANY, LTD

**GROUP MEMBERS**: ALLIED WORLD INSURANCE CO

**GROUP MEMBERS**: ALLIED WORLD NATIONAL ASSURANCE CO

**GROUP MEMBERS**: ALLIED WORLD SPECIALTY INSURANCE CO

**GROUP MEMBERS**: ALLIED WORLD SURPLUS LINES INSURANCE CO

**GROUP MEMBERS**: BING CHEN

**GROUP MEMBERS**: BRIT REINSURANCE (BERMUDA) LTD

**GROUP MEMBERS**: BRIT SYNDICATES LTD

**GROUP MEMBERS**: CONNEMARA REINSURANCE CO LTD.

**GROUP MEMBERS**: CRC REINSURANCE LTD

**GROUP MEMBERS**: DAVID L. SOKOL

**GROUP MEMBERS**: DEEP WATER HOLDINGS, LLC

**GROUP MEMBERS**: FAIRFAX (BARBADOS) INTERNATIONAL CORP.

**GROUP MEMBERS**: FAIRFAX FINANCIAL HOLDINGS LTD

**GROUP MEMBERS**: HILLTOP SPECIALTY INSURANCE CO

**GROUP MEMBERS**: HUDSON EXCESS INSURANCE CO

**GROUP MEMBERS**: HUDSON INSURANCE CO

**GROUP MEMBERS**: NEWLINE CORPORATE NAME LTD

**GROUP MEMBERS**: NORTH RIVER INSURANCE CO

**GROUP MEMBERS**: OCEAN NETWORK EXPRESS HOLDINGS LTD.

**GROUP MEMBERS**: OCEAN NETWORK EXPRESS PTE. LTD.

**GROUP MEMBERS**: ODYSSEY GROUP HOLDINGS, INC.

**GROUP MEMBERS**: ODYSSEY REINSURANCE (BARBADOS) LTD.

**GROUP MEMBERS**: ODYSSEY REINSURANCE CO

**GROUP MEMBERS**: POSEIDON ACQUISITION CORP.

**GROUP MEMBERS**: SECOND 810 HOLDCO LTD.

**GROUP MEMBERS**: SIXTY THREE FOUNDATION

**GROUP MEMBERS**: TIG INSURANCE CO

**GROUP MEMBERS**: UNITED STATES FIRE INSURANCE CO

**GROUP MEMBERS**: WENTWORTH INSURANCE CO LTD.

**GROUP MEMBERS**: ZENITH INSURANCE CO

**SUBJECT COMPANY**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** Atlas Corp.
- **CENTRAL INDEX KEY:** 0001794846
- **STANDARD INDUSTRIAL CLASSIFICATION:** DEEP SEA FOREIGN TRANSPORTATION OF FREIGHT [4412]
- **IRS NUMBER:** 000000000
- **STATE OF INCORPORATION:** 1T
- **FISCAL YEAR END:** 1231

**FILING VALUES:**
- **FORM TYPE:** SC 13E3/A
- **SEC ACT:** 1934 Act
- **SEC FILE NUMBER:** 005-91452
- **FILM NUMBER:** 23769445

**BUSINESS ADDRESS:**
- **STREET 1:** 2600-200 GRANVILLE STREET
- **CITY:** VANCOUVER
- **STATE:** A1
- **ZIP:** V6C 1S4
- **BUSINESS PHONE:** 604-638-2575

**MAIL ADDRESS:**
- **STREET 1:** 2600-200 GRANVILLE STREET
- **CITY:** VANCOUVER
- **STATE:** A1
- **ZIP:** V6C 1S4
**FILED BY**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** Atlas Corp.
- **CENTRAL INDEX KEY:** 0001794846
- **STANDARD INDUSTRIAL CLASSIFICATION:** DEEP SEA FOREIGN TRANSPORTATION OF FREIGHT [4412]
- **IRS NUMBER:** 000000000
- **STATE OF INCORPORATION:** 1T
- **FISCAL YEAR END:** 1231

**FILING VALUES:**
- **FORM TYPE:** SC 13E3/A

**BUSINESS ADDRESS:**
- **STREET 1:** 2600-200 GRANVILLE STREET
- **CITY:** VANCOUVER
- **STATE:** A1
- **ZIP:** V6C 1S4
- **BUSINESS PHONE:** 604-638-2575

**MAIL ADDRESS:**
- **STREET 1:** 2600-200 GRANVILLE STREET
- **CITY:** VANCOUVER
- **STATE:** A1
- **ZIP:** V6C 1S4

------

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**UNITED STATES** 

**SECURITIES AND EXCHANGE COMMISSION** 

**WASHINGTON, D.C. 20549** 

------

**SCHEDULE 13E-3** 

**(Amendment No. 2)** 

**RULE 13e-3 TRANSACTION STATEMENT UNDER SECTION 13(e)** 

**OF THE SECURITIES EXCHANGE ACT OF 1934** 

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## Atlas Corp.
**(Name of the Issuer)** 

------

**Atlas Corp.** 

**Poseidon Acquisition Corp.** 

**David L. Sokol** 

**Fairfax Financial Holdings Limited** 

**The Second 810 Holdco Ltd.** 

**Fairfax (Barbados) International Corp.** 

**Wentworth Insurance Company Ltd.** 

**The Sixty Three Foundation** 

**Odyssey Group Holdings, Inc.** 

**Odyssey Reinsurance Company** 

**Odyssey Reinsurance (Barbados) Ltd.** 

**Newline Corporate Name Limited** 

**Hudson Insurance Company** 

**Hilltop Specialty Insurance Company** 

**Allied World Assurance Company, Ltd** 

**Allied World National Assurance Company** 

**Allied World Insurance Company** 

**Allied World Specialty Insurance Company** 

**Allied World Surplus Lines Insurance Company** 

**Allied World Assurance Company, AG** 

**Allied World Assurance Company (Europe) dac** 

**Allied World Assurance Company (U.S.) Inc.** 

**United States Fire Insurance Company** 

**Zenith Insurance Company** 

**Brit Reinsurance (Bermuda) Limited** 

**TIG Insurance Company** 

**Connemara Reinsurance Company Ltd.** 

**CRC Reinsurance Limited** 

**The North River Insurance Company** 

**Hudson Excess Insurance Company** 

**Brit Syndicates Limited** 

**Deep Water Holdings, LLC** 

**Ocean Network Express Pte. Ltd.** 

**Ocean Network Express Holdings Ltd.** 

**Bing Chen** 

**(Name of Persons Filing Statement)** 

**Common Shares, $0.01 par value per share** 

**(Title of Class of Securities)** 

**Y0436Q109** 

**(CUSIP Number of Class of Securities)** 

---

| | |
|:---|:---|
| **Andrew E. Derksen**<br> **Atlas Corp.**<br> **3501, 35/F, AIA Tower**<br> **183 Electric Road, North Point**<br> **Hong Kong, Hong Kong**<br> **Telephone: +852 3588 9400** | **David L. Sokol**<br> **Poseidon Acquisition Corp.**<br> **Trust Company Complex**<br> **Ajeltake Road, Ajeltake Island**<br> **Majuro, Marshall Islands MH96960**<br> **Telephone: (313) 465-7000**<br>**Derek Bulas**<br> **Fairfax Financial Holdings Limited**<br> **95 Wellington Street West, Suite 800**<br> **Toronto, Ontario, Canada M5J 2N7**<br> **Telephone: (416) 367-4941**<br>**Jerry K. Lemon**<br> **Deep Water Holdings, LLC**<br> **c/o Washington Corporations**<br> **P.O. Box 16630**<br> **101 International Drive**<br> **Missoula, MT 59808**<br> **Telephone: (406) 523-1300** |
|  | **Koshiro Wake**<br> **Ocean Network Express Pte. Ltd.**<br> **Ocean Network Express Holdings, Ltd.**<br> **c/o Ocean Network Express Pte. Ltd.**<br> **7 Straits View, #16-01 Marina One East**<br> **Tower, Singapore 018936**<br> **Telephone: +65 6220 0196**<br>**Bing Chen**<br> **501, 35/F, AIA Tower**<br> **183 Electric Road, North Point**<br> **Hong Kong, Hong Kong**<br> **Telephone: +852 3588 9400** |

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**(Name, Address, and Telephone Numbers of Person Authorized to Receive Notices and Communications on Behalf of the Persons Filing Statement)** 

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***With copies to:***

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| | |
|:---|:---|
| **Hillary H. Holmes**<br> **Mark D. Director**<br> **Gibson, Dunn & Crutcher LLP**<br> **811 Main Street, Suite 3000**<br> **Houston, Texas 77002**<br> **Telephone: (346) 718-6600** | **Tracy Larsen**<br> **Jeff Kuras**<br> **Barbara Kaye**<br> **Honigman LLP**<br> **2290 First National Building**<br> **600 Woodward Avenue**<br> **Detroit, MI 48226**<br> **Telephone: (313) 465-7000**<br>**Michael Horwitz**<br> **Mile Kurta**<br> **Torys LLP**<br> **1114 Avenue of the Americas, 23rd Floor**<br> **New York, NY 10036**<br> **Telephone: (212) 880-6000**<br>**Stephan Coonrod**<br> **Christopher H. Cunningham**<br> **K&L Gates LLP**<br> **925 Fourth Avenue, Suite 2900**<br> **Seattle, WA 98104**<br> **Telephone: (206) 623-7580**<br>**David Kurzweil**<br> **Julian Azran**<br> **Latham & Watkins LLP**<br> **1271 Avenue of the Americas**<br> **New York, NY 10020**<br> **Telephone: (212) 906-1200** |

---

------

This statement is filed in connection with (check the appropriate box):

a. ☐ The filing of solicitation materials or an information statement subject to Regulation 14A (§§240.14a-1 through 240.14b-2), Regulation 14C (§§240.14c-1 through 240.14c-101) or Rule 13e-3(c) (§240.13e-3(c)) under the Securities Exchange Act of 1934 ("the Act").

b. ☐ The filing of a registration statement under the Securities Act of 1933.

c. ☐ A tender offer.

d. ☒ None of the above.

Check the following box if the soliciting materials or information statement referred to in checking box (a) are preliminary copies: ☐

Check the following box if the filing is a final amendment reporting the results of the transaction: ☒

**Neither the Securities and Exchange Commission nor any state securities commission has approved or disapproved of this transaction, passed upon the merits or fairness of this transaction, or passed upon the adequacy or accuracy of the disclosure in this transaction statement on schedule 13e-3. Any representation to the contrary is a criminal offense.** 

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**INTRODUCTION** 

This Amendment No. 2 (this "Amendment") to Schedule 13E-3 (together with the exhibits hereto, this "Transaction Statement"), which amends and supplements the Rule 13e-3 Transaction Statement on Schedule 13E-3 filed with the Securities and Exchange Commission (the "SEC") on December 7, 2022 (as amended by Amendment No. 1 to Schedule 13E-3, filed with the SEC on January 10, 2023, together, the "Initial Schedule 13E-3"), is being filed with the SEC pursuant to Section 13(e) of the Securities Exchange Act of 1934, as amended, jointly by the following persons (each, a "Filing Person," and collectively, the "Filing Persons"): (a) Atlas Corp., a Marshall Islands corporation (the "Company"), the issuer of common shares, par value $0.01 per share (the "Common Shares"), (b) Poseidon Acquisition Corp., a Marshall Islands corporation ("Poseidon"), (c) David L. Sokol, Chairman of the Board of Directors of the Company, (d) Fairfax Financial Holdings Limited ("Fairfax"), The Second 810 Holdco Ltd., Fairfax (Barbados) International Corp., Wentworth Insurance Company Ltd., The Sixty Three Foundation, Odyssey Group Holdings, Inc., Odyssey Reinsurance Company, Odyssey Reinsurance (Barbados) Ltd., Newline Corporate Name Limited, Hudson Insurance Company, Hilltop Specialty Insurance Company, Allied World Assurance Company, Ltd, Allied World National Assurance Company, Allied World Insurance Company, Allied World Specialty Insurance Company, Allied World Surplus Lines Insurance Company, Allied World Assurance Company, AG, Allied World Assurance Company (Europe) dac, Allied World Assurance Company (U.S.) Inc., United States Fire Insurance Company, Zenith Insurance Company, Brit Reinsurance (Bermuda) Limited, TIG Insurance Company, Connemara Reinsurance Company Ltd., CRC Reinsurance Limited, The North River Insurance Company, Hudson Excess Insurance Company and Brit Syndicates Limited (collectively, together with Fairfax, the "Fairfax Filing Parties"), (e) Deep Water Holdings, LLC ("Deep Water Holdings"), (f) Ocean Network Express Pte. Ltd. ("ONE") and Ocean Network Express Holdings Ltd. ("ONE Holdings") and (g) Bing Chen, President and Chief Executive Officer of the Company.

On October 31, 2022, the Company entered into an Agreement and Plan of Merger (the "Merger Agreement") with Poseidon and Poseidon Merger Sub, Inc., a Marshall Islands corporation and a wholly owned subsidiary of Poseidon ("Merger Sub"), pursuant to which, among other things, Merger Sub was merged with and into the Company, with the Company continuing as the surviving corporation and a wholly-owned subsidiary of Poseidon (other than with respect to the Company's preferred shares) (the "Merger"). As a result of the Merger, Merger Sub ceased to exist as an independent entity and therefore, is no longer a filing person.

In connection with the Merger, the Company made available to its shareholders a definitive proxy statement (the "Proxy Statement," a copy of which is attached as Exhibit (a)(1) to this Transaction Statement), relating to the annual meeting of shareholders (the "Annual Meeting") at which the common shareholders of the Company considered and voted on, among other things, the adoption and approval of the Merger Agreement and the transactions contemplated thereby, including the Merger. A copy of the Merger Agreement is attached to the Proxy Statement as Annex A and is incorporated herein by reference. Pursuant to General Instruction F to Schedule 13E-3, the information contained in the Proxy Statement, including all annexes thereto, is incorporated in its entirety herein by this reference, and the responses to each item herein are qualified in their entirety by the information contained in the Proxy Statement and the annexes thereto. Capitalized terms used but not expressly defined in this Transaction Statement are given the respective meanings ascribed to such terms in the Proxy Statement. The Proxy Statement was mailed to the Company's shareholders on or about January 10, 2023. The Annual Meeting was convened on February 24, 2023. At the special meeting, the company's common shareholders approved by the required votes the proposal to adopt and approve the Merger Agreement and the transactions contemplated thereby, including the Merger.

On December 22, 2022, December 27, 2022, January 10, 2023, January 30, 2023 and February 8, 2023, counsel for the Company received letters (collectively, the "Demand Letters") from counsel for certain purported shareholders of the Company alleging that the Proxy Statement omitted material information with respect to the Merger, and demanding that the Company provide supplemental disclosures in an amendment or supplement to the Proxy Statement. As of the date hereof, no complaint has been filed with respect to the Demand Letters.

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The Company believes that the allegations in the Demand Letters are without merit and that supplemental disclosures are not required or necessary under applicable laws. However, to avoid the risk of litigation relating to the allegations in the Demand Letters and to minimize the costs, risks and uncertainties inherent in defending any such litigation, and without admitting any liability or wrongdoing, the Company is voluntarily supplementing the Proxy Statement as described in this Transaction Statement. The Company believes that the supplemental disclosures contained in this Transaction Statement are immaterial. In addition, these supplemental disclosures will not affect the Merger Consideration as described further in the Proxy Statement.

This final Amendment is being filed pursuant to Rule 13e-3(d)(3) to report the results of the transaction that is the subject of this Transaction Statement. All information in this final Amendment should be read in conjunction with the information contained or incorporated by reference in this Transaction Statement, as amended to date.

All information set forth in this Transaction Statement should be read in conjunction with the information contained or incorporated by reference in the Initial Schedule 13E-3, including the Proxy Statement. All page references in the information below are to pages in the Proxy Statement. All information concerning the Company contained in, or incorporated by reference into, this Transaction Statement and the Proxy Statement was supplied by the Company. Similarly, all information concerning each Filing Person contained in, or incorporated by reference into, this Transaction Statement and the Proxy Statement was supplied by such Filing Person. No Filing Person is responsible for the accuracy of any information supplied by any other Filing Person.

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| | |
|:---|:---|
| **ITEM 3.** | **IDENTITY AND BACKGROUND OF FILING PERSON**  |

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The information set forth in the Proxy Statement under the caption "Information Concerning Poseidon, Merger Sub and the Consortium—Transactions with the Company" is hereby amended and supplemented by adding the following:

On February 24, 2023, Seaspan Corporation, a subsidiary of the Company ("***Seaspan***"), agreed to sell to ONE a 4250 TEU panamax vessel for aggregate proceeds of approximately $17.2 million. The vessel is under current charter with ONE, which delivery of such vessel is expected during the second quarter of 2023.

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| | |
|:---|:---|
| **ITEM 4.** | **TERMS OF THE TRANSACTION**  |

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The information set forth in the Proxy Statement under the captions "The Merger Agreement—Treatment of Equity Awards," "The Merger Agreement—Conditions to Completion of the Merger," and "The Rollover Agreements" is hereby amended and supplemented by adding the following:

On March 26, 2023, the Company, Poseidon and Merger Sub entered into a letter agreement (the "***Letter Agreement***") with respect to certain terms of the Merger Agreement. Pursuant to the Letter Agreement:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• Poseidon waived the requirement under the Merger Agreement that the Company obtain consent, clearance,
authorization or approval or alternatively repay, redeem or otherwise retire the 6.5% senior unsecured sustainability-linked bonds due 2026 (the "  ***2026 NOK Bonds***") of Seaspan.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• Poseidon and Mr. Chen entered into an amendment to Mr. Chen's Rollover Agreement pursuant to
which the number of Company Common Shares that Mr. Chen is permitted to exclude from the Rollover Equity (as defined in such Rollover Agreement) increased from 750,000 to 1,500,000 Common Shares. Prior to the closing of the Merger,
Mr. Chen notified Poseidon and the Company that he will exclude the entire 1,500,000 Company Common Shares from his Rollover Equity.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• Each of (i) 1,491,316 Restricted Shares subject to a Stock Grant Agreement, dated June 27, 2022, between
Mr. Chen, on the one hand, and the Company and Seaspan, on the other hand, and (ii) 4,000,000 Restricted Shares subject to a Stock Grant Agreement, dated March 28, 2022, between Mr. Sokol and the Company, were contributed at the Effective
Time to Poseidon in exchange for the issuance of Poseidon common stock equal to the applicable number of Restricted Shares contributed by Messrs. Chen and Sokol, with such contribution of Restricted Shares constituting "Rollover Equity"
under each of Messrs. Chen and Sokol's Rollover Agreements.

------

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• Each RSU granted to Mr. Chen pursuant to a Restricted Stock Units Award Grant Notice and Agreement, by and
between the Company and Mr. Chen, dated as of June 24, 2020, that remains outstanding and subject to one or more unsatisfied vesting conditions as of immediately prior to the closing of the Merger (each, an "  ***Unvested Chen RSU*** "), will remain outstanding and, upon vesting, will settle in a number of shares of Poseidon common stock equal to the number of Common Shares subject to the Unvested Chen RSU immediately prior to the Effective Time.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• Each unvested RSU (each an "  ***Unvested Executive RSU***") granted to each of Graham Talbot,
the Company's Chief Financial Officer, and Torsten Holst Pedersen, the Company's Chief Operating Officer, pursuant to Restricted Stock Units Award Grant Notice and Agreements, dated August 5, 2021, by and between, in each case, the
executive and the Company, will be treated in accordance with Section 2 of the Merger Agreement; provided that an additional interest component will be paid with any cash amount that becomes payable in respect of such Unvested Executive RSUs.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• Poseidon acknowledges that the Company has paid or will pay annual bonus payments for performance in 2022 to
certain employees of the Company, and has increased the base salary for 2023 and annual bonus opportunity for certain employees.

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| | |
|:---|:---|
| **ITEM 5.** | **PAST CONTRACTS, TRANSACTIONS, NEGOTIATIONS, AND AGREEMENTS**  |

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**Regulation M-A, Item 1005(a)-(c), (e)** 

The information set forth in the Proxy Statement under the caption "Information Concerning Poseidon, Merger Sub and the Consortium - Transactions with the Company" is hereby amended and supplemented as provided in Item 3 above.

The information set forth in the Proxy Statement under the caption "The Merger Agreement - Treatment of Equity Awards," "The Merger Agreement - Conditions to Completion of the Merger," and "The Rollover Agreements" is hereby amended and supplemented as provided in Item 4 above.

The information set forth in the Proxy Statement under the caption "Special Factors - Background of the Merger" is hereby amended and supplemented as follows:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• by replacing the first sentence of the last full paragraph on page 29 of the Proxy Statement in its entirety
with the following:

On December 2, 2021, members of Management, including Mr. Graham Talbot, the Chief Financial Officer of the Company, met with members of management of Party A to discuss the potential terms of a strategic transaction involving an acquisition of Seaspan by Party B.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• by replacing the last sentence of the paragraph that begins at the bottom of page 29 and ends at the top of
page 30 of the Proxy Statement in its entirety with the following:

In materials discussing Phase 2 of the Strategic Equity Review, Management included a sum-of-the-parts potential valuation of the Company with a range of $14.65 - $22.35 per Common Share and with a mid-point of $18.50 per Common Share.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• by adding the following at the end of the paragraph that begins at the bottom of page 34 and ends at the top of
page 35 of the Proxy Statement:

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Additional protocols with respect to the Special Committee's process were shared with Management on August 23, 2022.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• by replacing the last sentence of the fifth full paragraph on page 36 of the Proxy Statement in its entirety
with the following:

The Special Committee determined not to engage in such outreach (other than with respect to Party B, as noted below), taking into account, among other things: (i) that the Proposed Transaction, and existence of the Special Committee and its financial advisor, were publicly announced, (ii) that members of the Consortium, in their capacity as shareholders of the Company and holding 69.8% of the voting power, had stated that they were not interested in selling their Common Shares to another party, and (iii) the Special Committee's desire to focus on its analysis of the Initial Consortium Proposal so as to expeditiously determine whether to pursue any transaction or maintain the status quo.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• by replacing the last sentence of the paragraph that begins at the bottom of page 36 and ends at the top of
page 37 of the Proxy Statement in its entirety with the following:

The Special Committee determined not to provide the Consortium access to diligence materials at that time in part to avoid any implication that the Special Committee was favorably inclined to pursue the Initial Consortium Proposal.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• by adding the following at the end of the paragraph that begins at the bottom of page 37 and ends at the top of
page 38 of the Proxy Statement:

The Special Committee's determination to reject the Initial Consortium Proposal was based in part on its belief that the contracted revenue stream and new build order book of the Company would yield a cash flow profile for Seaspan that would produce value in excess of the Initial Consortium Proposal.

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| | |
|:---|:---|
| **ITEM 6.** | **PURPOSES OF THE TRANSACTION AND PLANS OR PROPOSALS**  |

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**Regulation M-A, Item 1006(b), (c)(1)-(8)** 

The information set forth in the Proxy Statement under the caption "The Merger Agreement—Treatment of Equity Awards," "The Merger Agreement—Conditions to Completion of the Merger," and "The Rollover Agreements" is hereby amended and supplemented as provided in Item 4 above.

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| | |
|:---|:---|
| **ITEM 7.** | **PURPOSES, ALTERNATIVES, REASONS, AND EFFECTS**  |

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**Regulation M-A, Item 1013** 

The information set forth in the Proxy Statement under the caption "The Merger Agreement—Treatment of Equity Awards," "The Merger Agreement—Conditions to Completion of the Merger," and "The Rollover Agreements" is hereby amended and supplemented as provided in Item 4 above.

The information set forth in the Proxy Statement under the caption "Special Factors—Opinion of the Financial Advisor to the Special Committee" is hereby amended and supplemented as follows:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• by replacing the first sentence of the last paragraph on page 60 of the Proxy Statement in its entirety with
the following:

Morgan Stanley also calculated a range of terminal values for Seaspan, ranging from $3,764 million to $6,279 million, utilizing a perpetuity growth rate method.

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&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• by replacing the first sentence of the third paragraph under the heading "APR DCF Analysis" on page
61 of the Proxy Statement in its entirety with the following:

Morgan Stanley calculated a range of terminal values for APR, ranging from $483 million to $662 million, utilizing a terminal exit multiple method, applying a range of aggregate value to last twelve months' ("LTM") Adjusted EBITDA multiples to the Adjusted EBITDA of APR as set forth in the APR Projections.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• by replacing the portion of the section titled "Precedent Transaction Multiples Analysis" starting
with the first full paragraph on page 62 of the Proxy Statement and ending at the end of page 62 of the Proxy Statement in its entirety with the following:

The following is a list of the selected maritime transactions reviewed, together with the applicable AV / LTM Adj. EBITDA Multiples (the "Selected Maritime Transactions"):

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| | | | |
|:---|:---|:---|:---|
| **Selected Maritime Transactions (Target/Acquiror)** | **Announcement** | **Transaction<br>Value**<br>**($in billions)** | **AV / LTM**<br>**Adj. EBITDA** |
|  Teekay LNG Partners L.P. / Stonepeak Partners L.P. | October 2021 | 6.2 | 8.4x |
|  Ocean Yield ASA / Kohlberg Kravis Roberts & Co. L.P. | September 2021 | 2.3 | 8.4x |
|  Höegh LNG Holdings Ltd. / Larus Holding Limited | March 2021 | 2.1 | 9.2x |
|  GasLog Ltd / BlackRock Inc. | February 2021 | 4.4 | 9.4x |
|  Golar LNG Partners LP / New Fortress Energy Inc. | January 2021 | 1.9 | 6.3x |

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The following is a list of the selected general and specialty rental transactions reviewed (the "Selected Rental Transactions" and, together with the Selected Maritime Transactions, the "Selected Transactions"), together with the applicable AV / LTM Adj. EBITDA Multiples:

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| | | | |
|:---|:---|:---|:---|
| **Selected Rental Transactions (Target/Acquiror)** | **Announcement** | **Transaction<br>Value**<br>**($ in billions)** | **AV / LTM**<br>**Adj. EBITDA** |
|  *<u>General Rental</u>* |  |  |  |
|  NES Rentals Holdings II, Inc. / United Rentals, Inc. | January 2017 | 1 | 6.2x |
|  Neff Corporation / United Rentals, Inc. | August 2017 | 1.3 | 6.7x |
|  BlueLine Rental / United Rentals, Inc. | September 2018 | 2.1 | 6.7x |
|  *<u>Specialty Rental</u>* |  |  |  |
|  APR Energy plc / Fairfax Financial Holdings Limited | October 2015 | 0.8 | 7.8x |
|  BakerCorp International Holdings, Inc. / United Rentals, Inc. | July 2018 | 0.7 | 9.1x |
|  APR Energy Limited / Seaspan Corporation | November 2019 | 0.8 | 5.9x<sup>(1)</sup> |
|  Mobile Mini, Inc. / WillScot Corporation | March 2020 | 2.8 | 11.3x |
|  Aggreko plc / TDR Capital LLP & I Squared Capital (US) LLC | March 2021 | 3.2 | 5.5x |
|  General Finance Corporation / United Rentals, Inc. | April 2021 | 1 | 10.4x |

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(1) Based on FY2020 EBITDA of $127MM due to unavailability of LTM EBITDA.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• by replacing the section titled "Equity Research Analysts' Price Targets" on page 64 of the
Proxy Statement in its entirety with the following:

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***Equity Research Analysts' Price Targets***

For reference only, Morgan Stanley reviewed certain future public market trading price targets for Common Shares prepared and published by equity research analysts as of August 3, 2022 (the day before the last full trading day prior to the Company's announcement of its receipt of a takeover proposal from Poseidon). These targets reflected each analyst's estimate of the future public market trading price of Common Shares. The range of undiscounted analyst price targets for the Common Shares was $10.50 to $21.00 per share as of August 3, 2022.

The public market trading price targets published by equity research analysts do not necessarily reflect current market trading prices for the Common Shares, and these estimates are subject to uncertainties, including the future financial performance of the Company and future financial market conditions.

The public trading price targets reviewed by Morgan Stanley are summarized below:

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| | | |
|:---|:---|:---|
| **Source** | **Date of Report** | **Price Target ($)** |
|  Broker 1 | 2/8/2022 | 21.00 |
|  Broker 2 | 2/17/2022 | 20.00 |
|  Broker 3 | 7/19/2022 | 20.00 |
|  Broker 4 | 5/12/2022 | 17.00 |
|  Broker 5 | 7/18/2022 | 10.50 |
|  Broker 6 | 5/12/2022 | 16.00 |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• by adding the following sentence immediately after the first sentence of the first full paragraph on page 66 of
the Proxy Statement:

Such projected net debt was $6,613 million, $8,803 million and $10,561 million for December 31, 2022, 2023 and 2024, respectively.

---

| | |
|:---|:---|
| **ITEM 8.** | **FAIRNESS OF THE TRANSACTION**  |

---

**Regulation M-A, Item 1014** 

The information set forth in the Proxy Statement under the caption "The Merger Agreement—Treatment of Equity Awards," "The Merger Agreement—Conditions to Completion of the Merger," and "The Rollover Agreements" is hereby amended and supplemented as provided in Item 4 above.

The information set forth in the Proxy Statement under the caption "Special Factors—Background of the Merger" is hereby amended and supplemented as provided in Item 5 above.

The information set forth in the Proxy Statement under the caption "Special Factors—Opinion of the Financial Advisor to the Special Committee" is hereby amended and supplemented as provided in Item 7 above.

---

| | |
|:---|:---|
| **ITEM 9.** | **REPORTS, OPINIONS, APPRAISALS, AND CERTAIN NEGOTIATIONS**  |

---

**Regulation M-A, Item 1015** 

The information set forth in the Proxy Statement under the caption "The Merger Agreement—Treatment of Equity Awards," "The Merger Agreement—Conditions to Completion of the Merger," and "The Rollover Agreements" is hereby amended and supplemented as provided in Item 4 above.

------

The information set forth in the Proxy Statement under the caption "Special Factors—Background of the Merger" is hereby amended and supplemented as provided in Item 5 above.

The information set forth in the Proxy Statement under the caption "Special Factors—Opinion of the Financial Advisor to the Special Committee" is hereby amended and supplemented as provided in Item 7 above.

---

| | |
|:---|:---|
| **ITEM 10.** | **SOURCE AND AMOUNT OF FUNDS OR OTHER CONSIDERATION**  |

---

**Regulation M-A Item 1011(b)-(c)** 

The information set forth in the Proxy Statement under the caption "The Merger Agreement—Treatment of Equity Awards," "The Merger Agreement—Conditions to Completion of the Merger," and "The Rollover Agreements" is hereby amended and supplemented as provided in Item 4 above.

---

| | |
|:---|:---|
| **ITEM 15.** | **ADDITIONAL INFORMATION**  |

---

**Regulation M-A Item 1011(b)-(c)** 

**(c) Other Material Information**. Item 15(c) is hereby amended and supplemented as follows:

On February 24, 2023, the Company held its annual meeting of shareholders at which the Company's common shareholders considered and voted on, among other things, the adoption and approval of the Merger Agreement and the transactions contemplated thereby, including the Merger (the "Merger Proposal"). At the Annual Meeting, the Merger Proposal was approved by (x) a majority of the voting power of the issued and outstanding Common Shares held by the Unaffiliated Shareholders and (y) a majority of the voting power of the issued and outstanding Common Shares entitled to vote on the Merger Proposal, in each case outstanding as of January 9, 2023, the record date for the Annual Meeting.

On March 28, 2023, the Company filed Articles of Merger with the Registrar of Corporations of the Republic of the Marshall Islands, pursuant to which Merger Sub was merged with and into the Company, with the Company surviving the Merger and continuing to exist as a Marshall Islands corporation and a subsidiary of Poseidon.

As a result of the Merger, Poseidon owns all of the Common Shares of the Company and the Common Shares will no longer be listed on any quotation system or exchange, including the New York Stock Exchange. The Preferred Shares of the Company were unaffected by the Merger and remain outstanding. The Series D Preferred Shares, the Series H Preferred Shares and the Series I Preferred Shares continue to be listed on the NYSE.

------

---

| | |
|:---|:---|
| **ITEM 16.** | **EXHIBITS**  |

---

**Regulation M-A, Item 1016(a)-(d), (f)-(g)** 

---

| | |
|:---|:---|
| **Exhibit<br>No.** | **Description** |
|  (a)(1)\* | [Proxy Statement of the Company, dated January 9, 2023](http://www.sec.gov/Archives/edgar/data/1794846/000119312523004976/d313377dex99a1.htm). |
|  (a)(2)\* | [Letter to the Shareholders of Atlas Corp., incorporated herein by reference to the Proxy Statement.](http://www.sec.gov/Archives/edgar/data/1794846/000119312523004976/d313377dex99a1.htm#exind313377_01) |
|  (a)(3)\* | [Notice of Annual Meeting of Shareholders of Atlas Corp., incorporated herein by reference to the Proxy Statement.](http://www.sec.gov/Archives/edgar/data/1794846/000119312523004976/d313377dex99a1.htm#exind313377_02) |
|  (a)(4)\* | [Form of Proxy Card.](http://www.sec.gov/Archives/edgar/data/1794846/000119312522299597/d313377dex99a4.htm) |
|  (a)(5)\* | [Press Release issued by the Company, dated November 1, 2022 (incorporated herein by reference to Exhibit 99.1 to the Company's Current Report on Form 6-K, furnished November 1, 2022)](http://www.sec.gov/Archives/edgar/data/1794846/000119312522274489/d353336dex991.htm). |
|  (c)(1)\* | [Opinion of Morgan Stanley & Co. LLC to the Special Committee of the Board of Directors of Atlas Corp., dated October 31, 2022 (incorporated herein by reference to Annex B to the Proxy Statement filed herewith as Exhibit (a)(1))](http://www.sec.gov/Archives/edgar/data/1794846/000119312522299597/d313377dex99a1.htm#exind313377_03). |
|  (c)(2)\* | [Presentation materials prepared by Morgan Stanley & Co. LLC, dated August 26, 2022, for the Special Committee of the Board of Directors of Atlas Corp](http://www.sec.gov/Archives/edgar/data/1794846/000119312522299597/d313377dex99c2.htm). |
|  (c)(3)\* | [Presentation materials prepared by Morgan Stanley & Co. LLC, dated September 2, 2022, for the Special Committee of the Board of Directors of Atlas Corp](http://www.sec.gov/Archives/edgar/data/1794846/000119312522299597/d313377dex99c3.htm). |
|  (c)(4)\* | [Presentation materials prepared by Morgan Stanley & Co. LLC, dated September 7, 2022, for the Special Committee of the Board of Directors of Atlas Corp](http://www.sec.gov/Archives/edgar/data/1794846/000119312522299597/d313377dex99c4.htm). |
|  (c)(5)\* | [Presentation materials prepared by Morgan Stanley & Co. LLC, dated September 11, 2022, for the Special Committee of the Board of Directors of Atlas Corp](http://www.sec.gov/Archives/edgar/data/1794846/000119312522299597/d313377dex99c5.htm). |
|  (c)(6)\* | [Presentation materials prepared by Morgan Stanley & Co. LLC, dated September 16, 2022, for the Special Committee of the Board of Directors of Atlas Corp](http://www.sec.gov/Archives/edgar/data/1794846/000119312522299597/d313377dex99c6.htm). |
|  (c)(7)\* | [Presentation materials prepared by Morgan Stanley & Co. LLC, dated September 24, 2022, for the Special Committee of the Board of Directors of Atlas Corp](http://www.sec.gov/Archives/edgar/data/1794846/000119312522299597/d313377dex99c7.htm). |
|  (c)(8)\* | [Presentation materials prepared by Morgan Stanley & Co. LLC, dated September 27, 2022, for the Special Committee of the Board of Directors of Atlas Corp](http://www.sec.gov/Archives/edgar/data/1794846/000119312522299597/d313377dex99c8.htm). |
|  (c)(9)\* | [Presentation materials prepared by Morgan Stanley & Co. LLC, dated October 5, 2022, for the Special Committee of the Board of Directors of Atlas Corp](http://www.sec.gov/Archives/edgar/data/1794846/000119312522299597/d313377dex99c9.htm). |
|  (c)(10)\* | [Supplemental materials to the presentation materials prepared by Morgan Stanley & Co. LLC, dated October 5, 2022, for the Special Committee of the Board of Directors of Atlas Corp](http://www.sec.gov/Archives/edgar/data/1794846/000119312522299597/d313377dex99c10.htm). |
|  (c)(11)\* | [Presentation materials prepared by Morgan Stanley & Co. LLC, dated October 31, 2022, for the Special Committee of the Board of Directors of Atlas Corp](http://www.sec.gov/Archives/edgar/data/1794846/000119312522299597/d313377dex99c11.htm). |
|  (c)(12)\* | [Presentation materials prepared by Citigroup Global Markets Singapore Pte. Ltd., dated July 29, 2022, for the Board of Directors of Ocean Network Express Pte. Ltd](http://www.sec.gov/Archives/edgar/data/1794846/000119312522299597/d313377dex99c12.htm). |

---

------

---

| | |
|:---|:---|
|  (d)(1)\* | [Agreement and Plan of Merger, dated as of October 31, 2022, by and among Atlas Corp., Poseidon Acquisition Corp and Poseidon Merger Sub, Inc. (included as Annex A to the Proxy Statement filed herewith as Exhibit (a)(1)).](http://www.sec.gov/Archives/edgar/data/1794846/000119312522299597/d313377dex99a1.htm#annexacov) |
|  (d)(2)\* | [Fairfax Rollover Agreement, dated October 31, 2022 (incorporated herein by reference to Exhibit 99.9 to the Schedule 13D/A filed by the Fairfax Filing Parties with the SEC on November 2, 2022).](http://www.sec.gov/Archives/edgar/data/915191/000110465922113985/tm2229501d1_ex99-9.htm) |
|  (d)(3)\* | [Washington Rollover Agreement, dated October 31, 2022 (incorporated herein by reference to Exhibit 99.10 to the Schedule 13D/A filed by Washington with the SEC on November 2, 2022).](http://www.sec.gov/Archives/edgar/data/1206860/000119312522275924/d374793dex9910.htm) |
|  (d)(4)\* | [David L. Sokol Rollover Agreement, dated October 31, 2022 (incorporated herein by reference to Exhibit 99.5 to the Schedule 13D/A filed by Mr. Sokol with the SEC on November 2, 2022).](http://www.sec.gov/Archives/edgar/data/1097496/000110465922114028/tm2229492d1_ex99-5.htm) |
|  (d)(5)\* | [ONE Equity Commitment Letter, dated October 31, 2022 (incorporated herein by reference to Exhibit 99.15 to the Schedule 13D/A filed by Washington with the SEC on November 2, 2022).](http://www.sec.gov/Archives/edgar/data/1206860/000119312522275924/d374793dex9915.htm) |
|  (d)(6)\* | [Deep Water Holdings Equity Commitment Letter, dated October 31, 2022 (incorporated herein by reference to Exhibit 99.14 to the Schedule 13D/A filed by Washington with the SEC on November 2, 2022).](http://www.sec.gov/Archives/edgar/data/1206860/000119312522275924/d374793dex9914.htm) |
|  (d)(7)\* | [David L. Sokol Equity Commitment Letter, dated October 31, 2022 (incorporated herein by reference to Exhibit 99.8 to the Schedule 13D/A filed by Mr. Sokol with the SEC on November 2, 2022).](http://www.sec.gov/Archives/edgar/data/1097496/000110465922114028/tm2229492d1_ex99-8.htm) |
|  (d)(8)\* | [Fairfax Voting and Support Agreement, dated October 31, 2022 (incorporated herein by reference to Exhibit 99.15 to the Schedule 13D/A filed by the Fairfax Filing Parties with the SEC on November 2, 2022).](http://www.sec.gov/Archives/edgar/data/915191/000110465922113985/tm2229501d1_ex99-15.htm) |
|  (d)(9)\* | [Washington Voting and Support Agreement, dated October 31, 2022 (incorporated herein by reference to Exhibit 99.17 to the Schedule 13D/A filed by Washington with the SEC on November 2, 2022).](http://www.sec.gov/Archives/edgar/data/1206860/000119312522275924/d374793dex9917.htm) |
|  (d)(10)\* | [David L. Sokol Voting and Support Agreement, dated October 31, 2022 (incorporated herein by reference to Exhibit 99.11 to the Schedule 13D/A filed by Mr. Sokol with the SEC on November 2, 2022).](http://www.sec.gov/Archives/edgar/data/1097496/000110465922114028/tm2229492d1_ex99-11.htm) |
|  (d)(11)\* | [Joint Bidding Agreement, dated August 4, 2022 (incorporated herein by reference to Exhibit 99.8 to the Schedule 13D/A filed by the Fairfax Filing Parties with the SEC on August 5, 2022).](http://www.sec.gov/Archives/edgar/data/915191/000110465922086698/tm2222666d1_ex99-8.htm) |
|  (d)(12)\* | [Side Letter Agreement to Joint Bidding Agreement, dated October 31, 2022 (incorporated herein by reference to Exhibit 99.12 to the Schedule 13D/A filed by Mr. Sokol with the SEC on November 2, 2022).](http://www.sec.gov/Archives/edgar/data/1097496/000110465922114028/tm2229492d1_ex99-12.htm) |
|  (d)(13)\* | [Form of Asset Value Loan Note Agreement (incorporated herein by reference to Exhibit 7 to the Schedule 13D/A filed by the Fairfax Filing Parties with the SEC on August 25, 2021).](http://www.sec.gov/Archives/edgar/data/915191/000110465921109359/tm2125770d1_ex7.htm) |
|  (d)(14)\* | [Registration Rights Agreement, dated June 11, 2021 (incorporated herein by reference to Exhibit 4.3 to the Company's Current Report on Form 6-K, furnished June 14, 2021).](http://www.sec.gov/Archives/edgar/data/1794846/000119312521190203/d180582dex43.htm) |
|  (d)(15)\* | [Warrant Agreement, dated June 11, 2021 (incorporated herein by reference to Exhibit 4.2 to the Company's Current Report on Form 6-K, furnished June 14, 2021).](http://www.sec.gov/Archives/edgar/data/1794846/000119312521190203/d180582dex42.htm) |
|  (d)(16)\* | [Subscription and Exchange Agreement, dated June 11, 2021 (incorporated herein by reference to Exhibit 4.1 to the Company's Current Report on Form 6-K, furnished June 14, 2021).](http://www.sec.gov/Archives/edgar/data/1794846/000119312521190203/d180582dex41.htm) |
|  (d)(17)\* | [Registration Rights Agreement, dated April 30, 2021 (incorporated herein by reference to Exhibit 4.3 to the Company's Current Report on Form 6-K, furnished May 4, 2021).](http://www.sec.gov/Archives/edgar/data/1794846/000119312521148551/d158931dex43.htm) |

---

------

---

| | |
|:---|:---|
|  (d)(18)\* | [Warrant Agreement, dated April 30, 2021 (incorporated herein by reference to Exhibit 4.2 to the Company's Current Report on Form 6-K, furnished May 3, 2021).](http://www.sec.gov/Archives/edgar/data/1794846/000119312521148551/d158931dex42.htm) |
|  (d)(19)\* | [Registration Rights Agreement, dated August 17, 2017, by and between Seaspan Corporation and David Sokol (incorporated herein by reference to Exhibit 10.1 to Seaspan Corporation's Form 6-K (File No. 001-32591), furnished to the SEC on August 23, 2017).](http://www.sec.gov/Archives/edgar/data/1332639/000119312517265728/d446007dex101.htm) |
|  (d)(20)\* | [Bing Chen Rollover Agreement, dated October 31, 2022 (incorporated herein by reference to Exhibit 99.13 to the Schedule 13D/A filed by Washington with the SEC on November 2, 2022).](http://www.sec.gov/Archives/edgar/data/1206860/000119312522275924/d374793dex9913.htm) |
|  (d)(21)\* | [Registration Rights Agreement, dated January 14, 2019, by and between Seaspan Corporation and certain Washington entities specified therein (incorporated by reference to Exhibit 4.1 of Seaspan Corporation's Form 6-K (File No. 001-32591), furnished to the SEC on January 15, 2019).](http://www.sec.gov/Archives/edgar/data/1332639/000119312519009120/d665499dex41.htm) |
|  (d)(22) | [Letter Agreement among Atlas Corp., Poseidon Acquisition Corp and Poseidon Merger Sub, Inc., dated as of March 26, 2023.](d468376dex99d22.htm) |
|  (d)(23) | [Amendment to Bing Chen Rollover Agreement, dated March 23, 2023.](d468376dex99d23.htm) |
|  (d)(24) | [Amendment to David Sokol Rollover Agreement, dated March 28, 2023.](d468376dex99d24.htm) |
| (f) | None. |
| (g) | None. |
|  107\* | [Calculation of Filing Fee Tables.](http://www.sec.gov/Archives/edgar/data/1794846/000119312523004976/d313377dexfilingfees.htm) |

---

\* Previously filed.

------

**SIGNATURES** 

After due inquiry and to the best of each of the undersigned's knowledge and belief, each of the undersigned certifies that the information set forth in this statement is true, complete and correct.

---

| | | |
|:---|:---|:---|
| Dated as of March 28, 2023 | **ATLAS CORP.** | **ATLAS CORP.** |
|  | By: | /s/ Andrew E. Derksen |
|  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Name: Andrew E. Derksen | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Name: Andrew E. Derksen |
|  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Title: Corporate Secretary and General Counsel | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Title: Corporate Secretary and General Counsel |
|  | **POSEIDON ACQUISITION CORP.** | **POSEIDON ACQUISITION CORP.** |
|  | By: | /s/ David L. Sokol |
|  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Name: David L. Sokol | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Name: David L. Sokol |
|  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Title: Chairman | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Title: Chairman |

---

---

| | |
|:---|:---|
| /s/ David L. Sokol | /s/ David L. Sokol |
| **DAVID L. SOKOL** | **DAVID L. SOKOL** |
| **HAMBLIN WATSA INVESTMENT COUNSEL LTD., in its capacity as investment manager on behalf of all the Fairfax Filing Parties set out on this statement, other than The Second 810 Holdco Ltd. and The Sixty Three Foundation** | **HAMBLIN WATSA INVESTMENT COUNSEL LTD., in its capacity as investment manager on behalf of all the Fairfax Filing Parties set out on this statement, other than The Second 810 Holdco Ltd. and The Sixty Three Foundation** |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;By: | /s/ Peter S. Clarke |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Name: Peter S. Clarke | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Name: Peter S. Clarke |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Title: Chief Risk Officer | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Title: Chief Risk Officer |
| **THE SECOND 810 HOLDCO LTD.** | **THE SECOND 810 HOLDCO LTD.** |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;By: | /s/ V. Prem Watsa |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Name: V. Prem Watsa | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Name: V. Prem Watsa |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Title: President | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Title: President |
| **THE SIXTY THREE FOUNDATION** | **THE SIXTY THREE FOUNDATION** |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;By: | /s/ V. Prem Watsa |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Name: V. Prem Watsa | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Name: V. Prem Watsa |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Title: Director | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Title: Director |
| **DEEP WATER HOLDINGS, LLC** | **DEEP WATER HOLDINGS, LLC** |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;By: | /s/ Jerry K. Lemon |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Name: Jerry K. Lemon | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Name: Jerry K. Lemon |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Title: Manager | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Title: Manager |

---

------

---

| | |
|:---|:---|
| **OCEAN NETWORK EXPRESS PTE. LTD.** | **OCEAN NETWORK EXPRESS PTE. LTD.** |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;By: | /s/ Jeremy Nixon |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Name: Jeremy Nixon | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Name: Jeremy Nixon |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Title: Chief Executive Officer | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Title: Chief Executive Officer |
| **OCEAN NETWORK EXPRESS HOLDINGS, LTD.** | **OCEAN NETWORK EXPRESS HOLDINGS, LTD.** |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;By: | /s/ Hiroki Harada |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Name: Hiroki Harada | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Name: Hiroki Harada |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Title: Representative Director Chairman | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Title: Representative Director Chairman |

---

---

| |
|:---|
| /s/ Bing Chen |
| **BING CHEN** |

---

## Ex-99.(D)(22)

**Exhibit (d)(22)** 

ATLAS CORP.

March 26, 2023

Poseidon Acquisition Corp

Poseidon Merger Sub, Inc.

Ladies and Gentlemen:

We are writing with respect to that certain Agreement and Plan of Merger (the "<u>Merger Agreement</u>"), dated as of October 31, 2022, by and among Atlas Corp., a Marshall Islands corporation (the "<u>Company</u>"), Poseidon Acquisition Corp., a Marshall Islands corporation ("<u>Parent</u>"), and Poseidon Merger Sub, Inc., a Marshall Islands corporation and a wholly owned Subsidiary of Parent ("<u>Merger Sub</u>" and together with the Company and Parent, the "<u>Parties</u>" and each, a "<u>Party</u>"). Capitalized terms used but not otherwise defined in this Amendment shall have the meanings ascribed to such terms in the Merger Agreement.

This letter agreement (this "<u>Letter Agreement</u>") memorializes certain understandings and agreements by and among the Parties with respect to certain matters relating to the Merger Agreement and the Merger, such matters having been reviewed and agreed by the Special Committee of the Board of Directors of the Company. Upon execution of this Letter Agreement by all of the Parties, the terms hereof shall become legally binding upon and enforceable by each of the Parties, it being acknowledged by all of them that they have received good and valuable consideration therefor by the execution and delivery of this Letter Agreement and otherwise.

1. <u>2026 NOK Bonds</u>:

Parent and Merger Sub hereby agree that the Company's obligations under Section 6.08 of the Merger Agreement, are hereby irrevocably waived solely with respect to the indebtedness facility set out at row 1 of Section 9.02(e) of the Company Disclosure Schedule (the "<u>2026 NOK Bonds</u>"), and, accordingly, the Company shall have no obligation prior to and as a condition of the Closing to obtain any consent, clearance, authorization, approval, or waiver with respect to the 2026 NOK Bonds or to repay, redeem, or otherwise retire the 2026 NOK Bonds prior to and as a condition of the Closing.

In furtherance of the foregoing waiver, Parent and Merger Sub hereby agree that the condition to their obligations to consummate the Merger set forth in Section 9.02(e) of the Merger Agreement is hereby irrevocably waived solely with respect to the 2026 NOK Bonds, and such Section 9.02(e) shall be applied by the parties as if the 2026 NOK Bonds were not listed in Section 9.02(e) of the Company Disclosure Schedule. The parties further confirm their agreement that notwithstanding anything to the contrary in Section 6.01 or any other applicable provision of the Merger Agreement, the Company may, if required, repay or redeem any or all of the 2026 NOK Bonds using cash on hand of the Company and its Subsidiaries and/or proceeds of existing undrawn credit facilities of the Company and its Subsidiaries, all in accordance with the terms of the 2026 NOK Bonds as currently in effect, and this shall constitute a waiver and consent of Parent and Merger Sub with respect to any such repayment or redemption, to the extent necessary and appropriate.

------

March 26, 2023

2. <u>Treatment of Certain Company Equity Awards</u>. Notwithstanding anything to the contrary in the Merger
Agreement (including Article 2 thereof) or in any other agreement contemplated by and entered into in connection with the Merger Agreement, the Parties hereby agree as follows, and provide their express consent to each of the following. They each
further waive any rights to assert such actions, whether alone or together with any other action, fact or occurrence, as a basis for claiming a breach of the provisions of the Merger Agreement or a failure of any condition set forth therein to be
satisfied (or that any such condition is incapable of being satisfied).

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;a. <u>Company Restricted Shares</u>. Each of (i) the 1,491,316 Company Restricted Shares that are subject to
the June 27, 2022 Stock Grant Agreement, by and between Bing Chen, on the one hand, and the Company and Seaspan Corporation, on the other hand (the " <u>Chen RSA</u> "), and (ii) the 4,000,000 Company Restricted Shares that are
subject to the March 28, 2022 Stock Grant Agreement, by and between David Sokol, on the one hand, and the Company, on the other hand (the " <u>Sokol RSA</u> "), shall be contributed by Chen or Sokol (as applicable) to Parent in exchange
for the issuance by Parent to such individual of a number of newly issued shares of common stock of Parent equal to the number of shares contributed by such individual to Parent in accordance with the foregoing, and the parties will take all steps
reasonably necessary to effectuate the foregoing, including entering into amendments prior to or concurrent with and, in any case contingent upon, the Closing to each of Bing Chen and David Sokol's applicable Rollover and Contribution
Agreements with Poseidon Acquisition Corp., dated October 31, 2022 (each, a " <u>Rollover Agreement</u> ") (in the case of Bing Chen, as may be combined with his "Rollover Amendment" contemplated below), to cause the Company
Restricted Shares subject to each of the Chen RSA and the Sokol RSA to constitute "Rollover Equity" thereunder. For clarity, all other existing terms and conditions of the Chen RSA and the Sokol RSA (including without limitation all
vesting, forfeiture, and clawback provisions as may be contained therein) shall remain in full force and effect.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;b. <u>Amendments to Unvested Bing Chen Awards</u>. Solely with respect to each of the Company RSUs granted to Bing
Chen pursuant to that certain Restricted Stock Units Award Grant Notice and Agreement, by and among the Company and Mr. Chen, dated as of June 24, 2020 (the " <u>Chen RSU Award Agreement</u> "), that remains outstanding and subject
to one or more unsatisfied vesting conditions as of immediately prior to the Effective Time (each, an " <u>Unvested Chen RSU</u> "), each such Unvested Chen RSU shall remain outstanding and continue to be subject to the same terms and
conditions (including vesting and forfeiture conditions) as immediately prior to the Effective Time, as set forth in the applicable Company Stock Plan and the Chen RSU Award Agreement, except that each Unvested Chen RSU shall, if and when such
Unvested Chen RSU vests in accordance with its terms, settle in a number of common shares of common stock of Parent equal to the number of Company Common Shares subject to the Unvested Chen RSU immediately before the Effective Time, and the parties
will take all steps reasonably necessary, including amending the Chen RSU Award Agreement, to effectuate the foregoing. For clarity, all other existing terms and conditions of the Chen RSU Award Agreement (including without limitation all vesting,
forfeiture, and clawback provisions as may be contained therein) shall remain in full force and effect.

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March 26, 2023

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;c. <u>Amendment to Executive Option Award Agreement.</u> Each of Parent and Merger Sub acknowledges that the
Company, on the one hand, and Bing Chen, on the other hand, will enter into an amendment, prior to or concurrently with the Closing, to Mr. Chen's Stock Option Grant Notice and Stock Option Agreement with the Company, dated June 24,
2020, to provide for the treatment prescribed by Section 2 of the Merger Agreement with respect to Mr. Chen's Company Options. <u> </u> 

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;d. <u>Amendments to Company RSU Award Agreements</u>. Each of Parent and Merger Sub acknowledges that the Company,
on the one hand, and each of Graham Talbot and Torsten Holst Pedersen, on the other hand, will enter into amendments, prior to or concurrently with the Closing (collectively, the " <u>RSU Award Agreement Amendments</u> "), to their
respective Award Agreements with the Company, dated August 5, 2021, to provide for the treatment prescribed by Section 2 of the Merger Agreement with respect to such Persons' Company RSUs, plus payment of an additional interest
premium as described, and calculated in accordance with the formula set forth, in the RSU Award Agreement Amendments.

3. <u>Bonuses</u>. Parent and Merger Sub acknowledge that the Company has taken or will take the actions set forth
on Schedule A hereto with respect to annual bonus payments to be made to Company Employees (the " <u>Bonus-Related Actions</u> "). Parent and Merger Sub hereby consent to the Bonus-Related Actions (whether previously occurring or with
respect to the taking of such actions in the future, in any case, to the extent set forth on Schedule A hereto) and waive any rights to assert any Bonus-Related Action, whether alone or together with any other action, fact or occurrence, as a basis
for claiming a breach of the provisions of the Merger Agreement or a failure of any condition set forth therein to be satisfied (or that any such condition is incapable of being satisfied).

4. <u>Amendment of Rollover Agreement</u>. The Company acknowledges that Parent and Bing Chen will amend, prior to
the Closing, the Rollover Agreement between such Persons solely to (a) increase the number of Company Common Shares that may be excluded from the Rollover Equity (as defined therein) from 750,000 to 1,500,000 and (b) to effectuate the
characterization of all of 1,491,316 of Mr. Chen's Company Restricted Shares as "Rollover Shares" as contemplated by Section 2(a) above (the " <u>Rollover Amendment</u> ") and otherwise preserve all existing terms
and conditions of the Rollover Agreement. The Company hereby consents to entry into the Rollover Amendment and waives any rights to assert the Rollover Amendment, whether alone or together with any other action, fact or occurrence, as a basis for
claiming a breach of the provisions of the Merger Agreement (including the representations and warranties of Parent and Merger Sub set forth in Section 5.10) or a failure of any condition set forth therein to be satisfied (or that any such
condition is incapable of being satisfied).

5. <u>Dividend</u>. Notwithstanding anything to the contrary in the Merger Agreement or in any other agreement
contemplated by and entered into in connection with the Merger Agreement, Parent and Merger Sub hereby consent to the Company's declaration, and payment to the holders of Company Common Shares, of a $0.125 per share dividend with respect to the
Company's first fiscal quarter, and each of Parent and Merger Sub waive any rights to assert the declaration and/or payment of such dividend, whether alone or together with any other action, fact or occurrence, as a basis for claiming a breach
of the provisions of the Merger Agreement (including the provisions of Section 6.07) or a failure of any condition set forth therein to be satisfied (or that any such condition is incapable of being satisfied).

------

March 26, 2023

6. <u>Closing Timing</u>. The Parties hereby agree that, subject to the prior satisfaction or waiver (to the
extent permissible) by applicable parties of the conditions set forth in Article 9 of the Merger Agreement (other than conditions that by their nature are to be satisfied at the Closing, but subject to the satisfaction or, to the extent permissible,
waiver of those conditions at the Closing), the Closing shall occur on March 28, 2023.

7. <u>Certain Other Matters:</u> 

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;a. <u>Timing</u>. The Parties hereby agree that the reference to "ten (10) Business Days prior to the
Effective Time" set forth in Section 2.03 of the Merger Agreement shall be replaced with "the Business Day prior to the Effective Time." The Company waives any rights to assert the fact that the Exchange Agreement was not entered
into on or prior to the tenth Business Day prior to the Effective Time, whether alone or together with any other action, fact or occurrence, as a basis for claiming a breach of the provisions of the Merger Agreement (including the provisions of
Section 2.03) or a failure of any condition set forth therein to be satisfied (or that any such condition is incapable of being satisfied).

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;b. <u>Insurance</u>. The Parties hereby agree that purchase by either of the Company or the Surviving Corporation
(as defined in the Merger Agreement) of that certain directors' and officers' liability insurance package described in the documents with respect to such insurance provided to Parent on March 24, 2023 satisfies the requirement of
Section 7.02(d) of the Merger Agreement, and each of them waives any rights to assert the noncompliance with such provisions, whether alone or together with any other action, fact or occurrence, as a basis for claiming a breach of the
provisions of the Merger Agreement or a failure of any condition set forth therein to be satisfied (or that any such condition is incapable of being satisfied).

The Parties confirm that subject solely to the foregoing understandings, agreements, waivers, and consents the Merger Agreement remains in full force and effect in accordance with its terms and that agreements, waivers and consents reflected in this Letter Agreement pertain solely to the matters specified herein and are in accordance with, and subject to, the terms and conditions of Section 11.03 of the Merger Agreement. Further, the provisions of Sections 11.02, 11.06 – 11.14 of the Merger Agreement are hereby incorporated herein by reference, *mutatis mutandis*.

------

Please confirm your agreement with and acceptance of the terms and conditions of this Letter Agreement, effective as of the date hereof, by countersigning and returning an executed copy of this Letter Agreement to me.

---

| | |
|:---|:---|
| Sincerely, | Sincerely, |
| **ATLAS CORP.** | **ATLAS CORP.** |
| By: | /s/ Andrew E. Derksen |
| Name: Andrew E. Derksen | Name: Andrew E. Derksen |
| Title: General Counsel & Corporate Secretary | Title: General Counsel & Corporate Secretary |
| By: | /s/ Nicholas Pitts-Tucker |
| Name: Nicholas Pitts-Tucker | Name: Nicholas Pitts-Tucker |
| Title: Chairman, Special Committee of the Board of Directors of Atlas Corp | Title: Chairman, Special Committee of the Board of Directors of Atlas Corp |

---

.

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| | |
|:---|:---|
| ACCEPTED AND AGREED: | ACCEPTED AND AGREED: |
| **POSEIDON ACQUISITION CORP.** | **POSEIDON ACQUISITION CORP.** |
| By: | /s/ David L. Sokol |
| Name: David L. Sokol | Name: David L. Sokol |
| Title: Chairman | Title: Chairman |
| **POSEIDON MERGER SUB, INC.** | **POSEIDON MERGER SUB, INC.** |
| By: | /s/ David L. Sokol |
| Name: David L. Sokol | Name: David L. Sokol |
| Title: Chairman | Title: Chairman |

---

---

| | | |
|:---|:---|:---|
|  cc: | Honigman LLP | Ocean Network Express Pte. Ltd. |
|  | Latham & Watkins LLP | Hamblin Watsa Investment Counsel Ltd. |
|  | Torys LLP | Washington Corporation |
|  | K&L Gates LLP | Gibson, Dunn & Crutcher LLP |
|  | Morris Nichols Arsht & Tunnell |  |

---

------

**Exhibit A** 

<u>Bonus-Related Actions</u> 

1. In February 2023, the Company delivered letters to each participant in the Company's 2022 annual bonus
program notifying participants of their 2022 total bonus value based on applicable performance criteria and the form of payment thereof. Specifically, the Company determined that 2022 bonuses will be paid as follows: (i) one-third in cash on February 28, 2023; (ii) one-third in cash on the mid-June 2023 payroll; and (iii) the
final one-third to be paid in cash in equal installments during each of June 2023, June 2024 and June 2025, subject to the participant's continued employment or service with the Company or any of its
subsidiaries through the payment date (except that, for the long-term component of 2022 bonuses for the Company's executive leadership team members (specifically, Bing Chen, Torsten Pedersen, Graham Talbot, Andrew Derksen, and Peter Curtis),
the first installment was paid in February 2023 and the second and third installments will be paid in February 2024 and February 2025, respectively). The Company further provided that the June 2024 and June 2025 installments will include an
additional interest premium, based on an interest amount calculated using the average of the four preceding 90-day U.S. Treasury rates prior to the scheduled payment.

2. Also in the letters described above, the Company communicated to the applicable participant his or her base
salary for 2023 (to the extent different from their 2022 base salary) and annual bonus opportunity. The letters provided that 2023 bonuses, to the extent earned, will be paid as follows: (i) one-third in
cash in February 2024; (ii) one-third in cash in June 2024; and (iii) the final one-third based on a new plan to be adopted in 2023 following the Closing.

## Ex-99.(D)(23)

**Exhibit (d)(23)** 

March 23, 2023

Mr. Bing Chen

35B, Block 5, Dynasty Court

23 Old Peak Road, Mid-Level

Central, HK

---

| | |
|:---|:---|
| Re: | **<u>Letter Agreement re: Rollover and Contribution Agreement, dated as of October</u> <u>31, 2022</u>**  |

---

Dear Mr. Chen:

Reference is made to that certain Rollover and Contribution Agreement, dated as of October 31, 2022 (as amended, the "<u>Rollover Agreement</u>"), by and between you and Poseidon Acquisition Corp., a Marshall Islands company. Capitalized terms used but not defined herein have the meanings ascribed to them in the Rollover Agreement.

The parties are entering into this letter agreement (this "<u>Agreement</u>") to amend, in part, the Rollover Agreement, and in furtherance thereof, each party agrees as follows:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1. The maximum number of Company Common Shares that the Holder may elect to exclude from the Rollover Equity in accordance with the provisions of <u>Section</u> <u>1.1(ii)</u> of the Rollover Agreement shall be 1,500,000.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2. The 1,491,316 Company Restricted Shares that are subject to that certain June 27, 2022 Stock Grant Agreement, by and between Holder, on the one hand, and the Company and Seaspan Corporation, on the other hand, shall be deemed to be, and at all times to have been, included within the Holder's Rollover Equity and Rollover Shares.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3. Except as expressly set forth above, the Rollover Agreement remains unmodified and in full force and effect.

------

IN WITNESS WHEREOF, the parties have caused this Agreement to be duly executed as of the date first above written.

---

| | |
|:---|:---|
| **POSEIDON ACQUISITION CORP.** | **POSEIDON ACQUISITION CORP.** |
| By: | /s/ David L. Sokol |

---

Name: David L. Sokol

Title: Chairman

---

| |
|:---|
| **HOLDER** |
| /s/ Bing Chen |
| Bing Chen |

---

[*Signature Page – Rollover Agreement Letter Agreement (Bing Chen)*]

## Ex-99.(D)(24)

**Exhibit (d)(24)** 

March 28, 2023

Mr. David L. Sokol

2400 Del Lago Drive

Fort Lauderdale, FL 33316

---

| | |
|:---|:---|
| Re: | **<u>Letter Agreement re: Rollover and Contribution Agreement, dated as of October</u> <u>31, 2022</u>**  |

---

Dear Mr. Sokol:

Reference is made to that certain Rollover and Contribution Agreement, dated as of October 31, 2022 (as amended, the "<u>Rollover Agreement</u>"), by and between you and Poseidon Acquisition Corp., a Marshall Islands company. Capitalized terms used but not defined herein have the meanings ascribed to them in the Rollover Agreement.

The parties are entering into this letter agreement (this "<u>Agreement</u>") to amend, in part, the Rollover Agreement, and in furtherance thereof, each party agrees as follows:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1. The 4,000,000 Company Restricted Shares that are subject to that certain March 28, 2022 Stock Grant Agreement, by and between Holder and the Company, shall be deemed to be, and at all times to have been, included within the Holder's Rollover Equity and Rollover Shares.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2. Except as expressly set forth above, the Rollover Agreement remains unmodified and in full force and effect.

------

IN WITNESS WHEREOF, the parties have caused this Agreement to be duly executed as of the date first above written.

---

| | |
|:---|:---|
| **POSEIDON ACQUISITION CORP.** | **POSEIDON ACQUISITION CORP.** |
| By: | /s/ David L. Sokol |
| Name: | David L. Sokol |
| Title: | Chairman |
| **HOLDER** | **HOLDER** |
| /s/ David L. Sokol | /s/ David L. Sokol |
| David L. Sokol | David L. Sokol |

---

[*Signature Page – Rollover Agreement Letter Agreement (David Sokol)*]