Business: Fairfax Financial Holdings Ltd, Cumulative 5 Year Rate Reset Preferred Shares, Series I, liquidation preference Cdn$25.00 per share, redeemable at the issuer's option on 12/31/2015 and every December 31st in every fifth year thereafter at Cdn$25 per share plus accrued and unpaid dividends, and with no stated maturity. <p> Cumulative distributions of the Annual Fixed Dividend Rate will be paid quarterly on 3/31, 6/30, 9/30 & 12/31 to holders of record on the record date fixed by the board prior to the payment date (NOTE: the ex-dividend date is one business day prior to the record date). The Annual Fixed Dividend Rate will be 5.00% until the first redemption date, then it will be equal to the sum of the five-year non-callable Government of Canada bond on the applicable fixed rate calculation date plus 2.85%, resetting every 5 years thereafter on applicable fixed rate calculation date (see prospectus for more details). </p> On 12/31/2015 and every December 31st in every fifth year there after the holder will have the right to convert their Fairfax Financial Holdings Ltd, Cumulative 5 Year Rate Reset Preferred Shares, Series I into Fairfax Financial Holdings Ltd, Cumulative Floating Rate Preferred Shares, Series J (see prospectus for more details). <p> In regard to the payment of dividends and upon liquidation, the preferred shares rank junior to the company's senior debt, equally with other First Preferred shares of the company, and senior to the other series of shares of the company. See the IPO prospectus for further information.