Fairfax Announces Purchase of 275,000 Subordinate Voting Shares for Cancellation From Chairman and CEO, Prem Watsa

TORONTO, May 13, 2024 (GLOBE NEWSWIRE) -- Fairfax Financial Holdings Limited (TSX: FFH and FFH.U) (“Fairfax”) announces that it has repurchased 275,000 subordinate voting shares (the “Purchased Shares”) for cancellation from its Chairman and Chief Executive Officer, Prem Watsa. The Purchased Shares are being repurchased by Fairfax at price of C$1,512.89 (the “Purchase Price”), or US$1,106.48, per share at an aggregate cost of approximately US$304.3 million. The Purchased Shares were acquired pursuant to an exemption from the issuer bid requirements contained in applicable Canadian securities laws, and as required by the applicable exemption, the Purchase Price does not exceed the simple average closing price of the subordinate voting shares on the Toronto Stock Exchange (the “TSX”) for the 20 trading days immediately preceding the date of acquisition. The Purchase Price represents a discount of approximately 3.7% to the closing price of the subordinate voting shares on the TSX on May 10, 2024.

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