Fairfax Financial (FFH) Registration Filing summary

Company overview and business model

• Operates as a holding company with primary focus on property and casualty insurance, reinsurance, and investment management through a decentralized structure with autonomous management teams.

• Offers a diversified portfolio of insurance and reinsurance products across multiple geographies and risk classes, including significant operations in North America, Europe, Asia, Latin America, and Africa.

• Investment assets are managed with a conservative, value-oriented, total return approach.

Financial performance and metrics

• As of June 30, 2024, holding company cash and investments (net of derivative obligations) were $2.53 billion, with total debt of $8.25 billion and total equity of $27.7 billion.

• Earnings coverage ratio for the twelve months ended June 30, 2024 was 10.6x, and as adjusted for recent transactions, 11.0x.

• Consolidated net earnings before interest and taxes for the twelve months ended June 30, 2024 were $6.2 billion.

Use of proceeds and capital allocation

• No cash proceeds will be received from the issuance of the Exchange Notes; the exchange is solely to satisfy obligations under Registration Rights Agreements.

• Initial Notes tendered and exchanged will be retired and cancelled, resulting in no change to outstanding indebtedness.