Fairfax Financial Holdings Limited (“Fairfax”) (TSX: FFH and FFH.U) and OMERS, the pension plan for Ontario’s municipal employees, are pleased to announce that they have entered into an agreement pursuant to which OMERS will acquire a 40% interest in Fairfax’s UK run-off group, RiverStone UK. The transaction gives RiverStone UK the joint operational expertise of Fairfax and OMERS and the flexibility to raise inexpensive capital, while enabling Fairfax to focus on significant premium growth in the ongoing insurance and reinsurance businesses. The investment provides RiverStone UK with additional flexibility to raise capital at historically low rates in Europe in order to opportunistically pursue UK run-off transactions. Luke Tanzer will remain CEO of RiverStone UK post-closing. “We welcome OMERS’ investment in RiverStone UK and the opportunity it brings to continue to offer the most trusted and effective run-off solutions in the insurance market,” said Luke Tanzer, CEO of Riverstone UK. “When Nick Bentley and Luke Tanzer expressed their desire to take steps to bring partners into the UK run-off business, OMERS was the natural choice given our past successes together,” said Prem Watsa, Chairman and CEO of Fairfax. “OMERS’ investment and their ability to work jointly with Luke and his team will provide RiverStone UK with the opportunity to prudently leverage the business and pursue opportunistic transactions.” “The acquisition of RiverStone UK advances our strategy to make investments that can generate sustainable, stable income and growth,” said Ken Miner, Executive Vice President and Global Head of OMERS Capital Markets. “We are excited to work with Fairfax to maximize the value of this asset for our members.” The cash purchase price for the RiverStone UK investment of at least US$560 million, subject to certain book value adjustments at closing, will result in Fairfax recording a gain of approximately US$280 million before tax (an increase in book value per basic share of Fairfax of approximately US$10 before tax on a pro forma basis). Upon completion of the transaction, Fairfax will deconsolidate the UK run-off group and apply the equity method of accounting for its remaining interest. Fairfax may further monetize its remaining interest in UK run-off in the future although the company also retains the flexibility to repurchase its interest over time. The transaction remains subject to regulatory approval and is expected to close in the first quarter of 2020.

Mark Bannister, RiverStone Chief Operating Officer (far left) with the BPL Global team. Congratulations to BPL Global, winners of the Broking Firm of the Year award at last night’s Insurance Day Awards 2019 ceremony. Riverstone was proud to sponsor this award in memory of Brian Caudle, founder of Syndicate 780. Brian was a long-term business partner and friend of RiverStone and its affiliates. He was awarded Insurance Day’s Lifetime Achievement Award at the Worldwide Reinsurance Awards in 2012 for his 60 years of service in the industry.

What were the big themes people are talking about at Insurance 3.0? Mike: Some of the big themes we saw centered around artificial intelligence and machine learning, and how technology is continuing to force the insurance industry to evolve. A big topic on everyone’s mind is data and how to “productize” and monetize it. Insurance has always been data driven, but the level of insights is getting more prescriptive and precise. For example, everyone has an driver’s auto insurance policy, but based on the speed with which you take turns and how aggressively you brake and accelerate, it could impact your renewal rates. In the not-to-distant future, more conservative drivers will get lower rates. Beth: Change was a big theme - not only from a technical perspective, but from a workforce perspective. The changing workforce is driving the imperative for companies to examine both workplace and hiring practices. From flexible work arrangements becoming a must-have to attract Gen Z workers, to providing a clearly defined growth path for new hires and the need for daily management feedback conversations (orally!), the discussion was all about how companies need to evolve to attract talent. With the use of data increasingly becoming a competitive differentiator, were there any concerns about how data is used and secured? Beth: Cyber security insurance and services were a prominent topic at the conference. The increasing sophistication of cyber-attacks both from a human and technical engineering perspective is increasing the challenge of cyber security exponentially. With large-scale cyber attaches, “black hats” are patient, and will wait sometimes for years to enact an attack. Mike: For example, getting a “blue screen of death” is a pretty common occurrence, but black hats can be using this as a smoke screen to infect company devices and get login credentials. They then would work their way to financial machines to target the banks we work with. This is called a stepping stone attack, an attack where we may not be the primary target, but we are used to access the real target. As far as how data is being used, most companies are very careful to ensure that data is being used to benefit the customer and create better products. At the end of the day, in the UK (and likely soon in the US), you own your data, so part of your personal cyber hygiene regiment should be to understand who has your data and for what purpose. You mentioned that technology is driving the imperative for insurance companies to change. Could you tell us more about that? Mike: Expectations are changing in the world. Profit margins are smaller. End-users are expecting a customer-centered focus at a lower cost. Technology and process optimization whether it is AI, data, better systems or better processes aren’t “nice to haves” any more. It’s critical for all of us to think about how we can change and evolve to anticipate both customer needs and a changing competitive market. If we don’t, someone else will. Beth: We saw a number of pitches from start-ups trying to disrupt the insurance industry, from outside and from within. These start-ups have very similar ideas to what we’re working to do at RiverStone from a data science and technology perspective. RiverStone has a deep pool of resources that will help us capitalize on what we are working to do. What’s your favorite part about visiting London? Mike: Our London colleagues are so welcoming, which makes the long journey worth it. They always provide a different perspective, which we need in our innovation efforts. It also doesn’t hurt that the office is in the coolest part of London, right near the Tower of London. Beth: I’m always awed by how old London is compared to cities in the U.S. The London office is right by a section of wall that dates back to Roman times - you can reach out and touch it! And the Brit building is truly impressive - and has a terrifying elevator ride up to the 39th floor.

Nina Lynn Caroselli, Esq., Executive Vice President and Special Counsel of RiverStone, is co-chairing Perrin Conferences’ National Asbestos Litigation Conference September 9-11 in San Francisco, California. This year marks the 10th anniversary of the conference, which continues to provide the most significant, comprehensive, and balanced forum in asbestos litigation. Michael Owen, Vice President Asbestos Claims, will be presenting on the opening panel: "National Trends Driving Asbestos Litigation". Additional RiverStone managers will be presenting on topics including: "Insurer and Policyholder Relationship", "Data and Technology in Asbestos Litigation" and "Medicare Secondary Payer Responsibilities". PERRIN CONFERENCES’ NATIONAL ASBESTOS LITIGATION CONFERENCE

MANCHESTER, N.H. – July 5,2019 – RiverStone is pleased to announce the acquisition of Rockville Risk Management and E.R. Quinn Company (collectively, “Rockville”). Rockville is a New York based, privately-owned third-party administrator and loss adjusting company that provides comprehensive claim services to insurers, syndicates, managing general agents, re-insurers and self-insureds. Rockville will continue to operate as an independent subsidiary of RiverStone to preserve the services its clients have come to depend on. “Rockville is well-respected in the insurance industry as a trusted partner with a track record of more than thirty years of success,” said Nick Bentley, President and CEO of RiverStone. “This acquisition is a natural addition to RiverStone’s offerings and will accelerate our growth in the insurance services market. We look forward to welcoming the Rockville team.” “Becoming part of RiverStone and the Fairfax family will enable us to continue to grow and strengthen our position as a leading insurance service provider in the U.S. and across Europe,” said Edward R. Quinn, Jr., President and CEO of Rockville Quinn Management. About Rockville Rockville's history dates back to the founding of E.R. Quinn Company in 1983, as an independent investigative and adjusting company serving the insurance and self-insured industry in the Greater New York Area. In 2003, Rockville Risk Management was formed as a third-party administrator, further enhancing the scope of claims management solutions provided for insurers, syndicates, managing general agents, reinsurers and self-insureds. Currently, Rockville's operations include managing claims portfolios worldwide, loss adjusting, social media investigations, risk management consulting, auditing, and brokerage services