FAIRFAX FINANCIAL HOLDINGS LTD/ CAN

Fairfax Financial Holdings Limited reported net earnings of $1,392.7 million ($63.38 diluted EPS) for the second quarter of 2026, a slight decrease from $1,436.7 million in Q2 2025. Despite this, book value per basic share grew by 4.8% to $1,304.39, adjusted for dividends. The company's property and casualty insurance operations showed strong underwriting performance with a profit of $458.6 million and an improved combined ratio of 93.1%, alongside growth in gross and net premiums written. Fairfax also engaged in significant corporate actions, including a $1.09 billion share buyback, participation in the privatization of Kennedy Wilson, and planned acquisitions of Andrew Peller Limited and Sleep Number Corporation by its subsidiaries, while also issuing new senior notes and redeeming others.

Fairfax Financial Holdings Limited has announced that it will release its second quarter 2026 financial results after the close of markets on Thursday, July 30, 2026. Following the release, the company will host a conference call on Friday, July 31, 2026, at 8:30 a.m. Eastern Time to discuss these results. The call will include a presentation and a question-and-answer session, with a replay available for approximately one month.

Fairfax Financial Holdings Limited announced an offering of an additional C$300 million aggregate principal amount of its 4.40% Senior Notes due 2036. The notes will be priced at C$98.991 per C$100 principal amount and will form part of the same series as existing notes. Proceeds are intended for general corporate purposes, including debt refinancing or potential acquisitions. The offering is expected to close around June 19, 2026.

Fairfax Financial Holdings Limited announced the completion of the previously announced take-private acquisition of Kennedy-Wilson Holdings, Inc. The transaction was executed at US$10.90 per share in cash by a consortium including Fairfax affiliates. While the KW Management Group maintains operational control, Fairfax holds a majority economic interest. Additionally, an affiliate of the consortium secured a US$1.3 billion term loan facility, for which Fairfax has provided a stand-by guarantee.

Fairfax Financial Holdings Limited has completed a private offering of US$750,000,000 in aggregate principal amount of 6.200% senior notes due 2056. The net proceeds from this offering are intended for general corporate purposes. The offering was conducted through a private placement to qualified institutional buyers and certain non-U.S. persons. In conjunction with the closing, Fairfax entered into a customary registration rights agreement.

Fairfax Financial Holdings Limited announced the acquisition of an additional 26,582,275 common shares of Orla Mining Ltd. This resulted from the conversion of US$150,000,000 principal amount of senior unsecured convertible notes at a conversion price of CDN$7.90 per share. This transaction increases Fairfax's total beneficial ownership in Orla Mining to approximately 15.7% on a non-diluted basis and 19.5% on a partially-diluted basis, including warrants.

Fairfax Financial Holdings Limited filed an early warning report regarding its stake in Blue Ant Media Corporation. Fairfax's ownership was diluted from approximately 22.5% to 17.9% following Blue Ant's acquisition of Thunderbird Entertainment Group Inc., which involved the issuance of 5,857,979 new Subordinate Voting Shares. Fairfax subsequently acquired an additional 550,000 Subordinate Voting Shares, bringing its total holding to 5,514,723 shares, representing approximately 19.9% of the currently outstanding shares. Fairfax holds these shares for investment purposes.

Fairfax Financial Holdings Limited announced the pricing of a private offering of US$750 million in senior notes due 2056. The notes will be unsecured senior obligations with a fixed interest rate of 6.200% per annum and an issue price of 100%. Fairfax intends to use the net proceeds for general corporate purposes, with the offering expected to close around June 8, 2026.

Fairfax Financial Holdings Limited announced a quarterly dividend of $0.315313 on its outstanding Series K Preferred Shares. The dividend is scheduled for payment on June 30, 2026, to shareholders who are on record as of June 15, 2026. Canadian withholding tax will be applied to dividends distributed to non-residents of Canada.

Fairfax Financial Holdings Limited announced the completion of the previously disclosed sale of a portion of its interest in Poseidon Corp. The company sold 67,618,981 common shares of Poseidon for approximately US$1.91 billion, realizing a pre-tax gain of US$837 million. Following this transaction, Fairfax retains a 22.2% equity stake in Poseidon, which will continue to be accounted for under the equity method.