About Fairfax Financial Holdings

Fairfax Financial Holdings Limited (Fairfax), through its subsidiaries, engages in property and casualty insurance and reinsurance and the associated investment management. The company’s insurance and reinsurance companies operate on a decentralized basis, with autonomous management teams applying a focused underwriting strategy to their markets. The company’s subsidiaries provide a full range of property and casualty products, maintaining a diversified portfolio of risks across all classes of business, geographic regions, and types of insureds. The company’s investments are centrally managed for all the Fairfax group of companies by Hamblin Watsa Investment Counsel Ltd. (Hamblin Watsa), a wholly-owned subsidiary of Fairfax. Segments Insurance and Reinsurance segment This segment includes the following: Property and Casualty Insurance and Reinsurance Northbridge Financial Corporation (Northbridge) - A national commercial property and casualty insurer in Canada providing property and casualty insurance products through its Northbridge Insurance and Federated subsidiaries. Odyssey Group Holdings, Inc. (Odyssey Group) - A U.S.-based reinsurer that provides a full range of property and casualty products worldwide, and that underwrites specialty insurance, primarily in the U.S. and in the U.K., both directly and through the Lloyd’s market in London. Crum & Forster Holdings Corp. (Crum & Forster) - A national commercial property and casualty insurer in the U.S. that principally underwrites specialty coverages. Zenith National Insurance Corp. (Zenith National) - An insurer primarily engaged in workers’ compensation business in the U.S. Brit Limited (Brit) - A market-leading global Lloyd’s of London specialty insurer and reinsurer. Allied World Assurance Company Holdings, Ltd (Allied World) - A global property, casualty and specialty insurer and reinsurer with a presence at Lloyd’s. Fairfax Asia segment This segment includes the company’s operations that underwrite insurance and reinsurance coverages in Hong Kong (Falcon), Singapore (Singapore Re), Malaysia (Pacific Insurance), Indonesia (AMAG Insurance) and Sri Lanka (Fairfirst Insurance). Fairfax Asia also includes the company’s equity accounted interests in Digit (49.0%, in addition to the company’s investment in Digit compulsory convertible preferred shares), Vietnam-based Bank for Investment and Development of Vietnam Insurance Joint Stock Corporation (BIC Insurance) (35.0%) and Thailand-based Falcon Insurance PLC (Falcon Thailand) (41.2%). Fairfax Asia includes the company’s Asian holdings and operations: Hong Kong-based Falcon Insurance (Hong Kong) Company Ltd. (Falcon), Singapore based Singapore Reinsurance Corporation Limited (Singapore Re), 85.0%-owned Malaysia-based The Pacific Insurance Berhad (Pacific Insurance), 80.3%-owned Indonesia-based PT Asuransi Multi Artha Guna Tbk. (AMAG Insurance), 78.0%-owned Sri Lanka-based Fairfirst Insurance Limited (Fairfirst Insurance), 35.0%-owned Vietnam-based Bank for Investment and Development of Vietnam Insurance Joint Stock Corporation (BIC Insurance), 41.2%-owned Bangkok-based Falcon Insurance PLC (Falcon Thailand) and 49.0%-owned Go Digit Infoworks Services Private Limited (Digit). Fairfax Asia also has an investment in Digit compulsory convertible preferred shares. Insurance and Reinsurance – Other This segment consists of Group Re, Bryte Insurance Company Ltd (Bryte Insurance), Fairfax Latin America Ltd., Fairfax Central and Eastern Europe (Fairfax CEE) and Eurolife’s property and casualty insurance operations (Eurolife General). Group Re primarily constitutes the participation of the company’s Barbados based reinsurance subsidiaries CRC Reinsurance Limited (CRC Re), Wentworth Insurance Company Ltd (Wentworth) and Connemara Reinsurance Company Ltd (Connemara) in the reinsurance of Fairfax’s subsidiaries by quota share or through participation in those subsidiaries’ third party reinsurance programs on the same terms as third party reinsurers. Group Re also writes third party business. Bryte Insurance is an established property and casualty insurer in South Africa and Botswana. Fairfax Latin America Ltd. is consisted of Fairfax Brasil, which writes commercial property and casualty insurance in Brazil, and Fairfax Latam, consisting of property and casualty insurance operations in Argentina, Chile, Colombia and Uruguay. Fairfax CEE is consisted of Polish Re, which writes reinsurance in Central and Eastern Europe, Colonnade Insurance, a Luxembourg property and casualty insurer with branches in each of the Czech Republic, Hungary, Slovakia, Poland, Bulgaria and Romania and an insurance subsidiary in Ukraine, and FFH Ukraine Holdings (Fairfax Ukraine), which comprises ARX Insurance Company (ARX Insurance) and Private Joint Stock Company Insurance Company Universalna (Universalna), both property and casualty insurers in Ukraine. Eurolife FFH General Insurance Single Member S.A. (Eurolife General) writes property and casualty insurance in Greece and Romania. Life insurance and Run-off This segment consists of Eurolife’s life insurance operations and U.S. Run-off, which includes TIG Insurance Company. The European Run-off group (European Run-off), which principally consisted of RiverStone (UK), Advent, Syndicate 3500 at Lloyd’s (managed by RiverStone Managing Agency Limited) and TIG Insurance (Barbados) Limited, was deconsolidated on March 31, 2020. Non-Insurance Companies segment This segment includes the following: Restaurants and Retail – Includes principally of Recipe Unlimited Corporation (Recipe), Toys “R” Us Canada (deconsolidated on August 19, 2021), Golf Town Limited (Golf Town), and Sporting Life Inc. (Sporting Life). Fairfax India – Includes Fairfax India and its subsidiaries, which are principally National Commodities Management Services Limited (NCML) and Privi Speciality Chemicals Limited (Privi) (deconsolidated on April 29, 2021). Thomas Cook India – Includes Thomas Cook (India) Limited (Thomas Cook India) and its subsidiary, Sterling Holiday Resorts Limited (Sterling Resorts). Other – Includes primarily of AGT Food and Ingredients Inc. (AGT), Dexterra Group Inc. (Dexterra Group) (acquired on May 29, 2020), Mosaic Capital (deconsolidated on August 5, 2021), Boat Rocker Media Inc. (Boat Rocker), Farmers Edge Inc. (Farmers Edge) (consolidated on July 1, 2020), Helios Fairfax Partners Corporation (Helios Fairfax) and its subsidiary CIG (both deconsolidated on December 8, 2020), and Rouge Media (deconsolidated on January 1, 2021). Corporate and Other Corporate and Other includes the parent entity (Fairfax Financial Holdings Limited), its subsidiary intermediate holding companies and Hamblin Watsa Investment Counsel Ltd. (Hamblin Watsa), an investment management company. Hamblin Watsa is a wholly owned subsidiary of the company that serves as the investment manager for the holding company, the insurance and reinsurance operations, Run-off and Fairfax India. Sale of Toys “R” Us Canada On August 19, 2021, the company sold the operations of Toys “R” Us Canada. Acquisition of Eurolife FFH Insurance Group Holdings S.A. On July 14, 2021, the company increased its interest in Eurolife FFH Insurance Group Holdings S.A. (Eurolife) to 80.0% from 50.0% by exercising a call option. Additional Investment in Singapore Reinsurance Corporation Limited On June 17, 2021, the company increased its ownership interest in Singapore Reinsurance Corporation Limited (Singapore Re) from 28.2% to 94.0%. Fairfax India’s Sale of Privi Speciality Chemicals Limited On April 29, 2021, Fairfax India Holdings Corporation (Fairfax India) sold its 48.8% equity interest in Privi Speciality Chemicals Limited (Privi) to certain affiliates of Privi’s founders. History The company was founded in 1951. It was incorporated under the Canada Corporations Act in 1951 and continued under the Canada Business Corporations Act in 1976. The company was formerly known as Markel Financial Holdings Limited and changed its name to Fairfax Financial Holdings Limited in 1987.