Fairfax Financial completes $650-million note offering

Mr. John Varnell reports FAIRFAX COMPLETES C$650 MILLION SENIOR NOTES OFFERING Fairfax Financial Holdings Ltd. has completed its previously announced offering of (i) $400-million in aggregate principal amount of 4.40 per cent senior notes due 2036 and (ii) an additional $250-million in aggregate principal amount of its 5.10 per cent senior notes due 2055. Together with the previously issued $300-million aggregate principal amount 5.10 per cent senior notes due 2055, there is $550-million aggregate principal amount of notes of this series outstanding. The senior notes were offered through a syndicate of dealers led by BMO Nesbitt Burns Inc., CIBC World Markets Inc., RBC Dominion Securities Inc. and Scotia Capital Inc., as joint bookrunners, and included Merrill Lynch Canada Inc., National Bank Financial Inc., TD Securities Inc., Citigroup Global Markets Canada Inc., Desjardins Securities Inc., J.P. Morgan Securities Canada Inc., Mizuho Securities Canada Inc. and Morgan Stanley Canada Ltd., as agents. The senior notes are unsecured obligations of Fairfax. Fairfax intends to use the net proceeds of the offering to refinance, repay or redeem outstanding debt, equity, or other corporate obligations of Fairfax and its subsidiaries, to pursue potential acquisition or investment opportunities (which may include acquisitions of minority interests in its subsidiaries), and for general corporate purposes. This may include the redemption or repurchase of certain of Fairfax's previously issued debt or equity securities. As of the date of this press release, Fairfax has not made any determination as to the specific debt, equity or other corporate obligations to be repaid or redeemed, nor the amount, timing or method of such repurchase or redemption. Similarly, as of the date of this press release, Fairfax has not made any determination as to the specific acquisitions or investment opportunities to be pursued, nor the cost, timing or method of such acquisitions or investments. Any such repurchase, redemption, acquisition or investment will be subject to market conditions. Any proceeds not used to refinance, repay or redeem outstanding debt, equity or other corporate obligations, or to pursue potential acquisition or investment opportunities will be used for general corporate purposes, which may include to augment Fairfax's cash position or to increase short-term investments and marketable securities held at the holding company level. About Fairfax Financial Holdings Ltd. Fairfax is a holding company which, through its subsidiaries, is primarily engaged in property and casualty insurance and reinsurance and the associated investment management. We seek Safe Harbor.