Core Viewpoint - Fairfax Financial Holdings Limited has announced its intention to commence a Normal Course Issuer Bid (NCIB) for its Subordinate Voting Shares and specific series of Preferred Shares, believing these represent an attractive investment opportunity [1][3]. Summary by Sections NCIB Details - The NCIB will commence on September 30, 2025, and end on September 29, 2026, allowing for the purchase of Subordinate Voting Shares and Preferred Shares up to specified limits [2]. - The limits on purchases are as follows: - Subordinate Voting Shares: 22,477,575 outstanding, with a total limit of 2,187,316 and a daily limit of 11,371 [2]. - Series I Shares: 10,420,101 outstanding, with a total limit of 1,042,010 and a daily limit of 3,424 [2]. - Series J Shares: 1,579,899 outstanding, with a total limit of 157,989 and a daily limit of 1,000 [2]. - Series K Shares: 9,500,000 outstanding, with a total limit of 950,000 and a daily limit of 1,571 [2]. Previous NCIB Performance - Under its existing NCIB, Fairfax has purchased 837,057 Subordinate Voting Shares at an average price of Cdn.$2,090.47, with no Preferred Shares purchased [4]. Automatic Share Purchase Plan (ASPP) - Fairfax has entered into an ASPP with a designated broker to facilitate purchases during regulatory restrictions or internal trading black-out periods [5]. - The ASPP will be effective from September 30, 2025, and will terminate upon reaching the maximum purchase limit, expiration of the NCIB, or termination by Fairfax [7]. Company Overview - Fairfax is primarily engaged in property and casualty insurance and reinsurance, along with associated investment management through its subsidiaries [8].

Core Viewpoint - Black Diamond Group Limited has received approval from the Toronto Stock Exchange to renew its normal course issuer bid (NCIB) for its common shares, which will commence on May 12, 2025, and is set to terminate on May 11, 2026, or upon reaching the maximum number of shares permitted under the NCIB [1][2]. Group 1: NCIB Details - The company may purchase up to 4,513,658 common shares over a 12-month period, representing 10% of the public float and approximately 7.3% of the 62,214,472 issued and outstanding common shares as of April 30, 2025 [2]. - The maximum number of common shares that can be acquired on any one trading day is 9,405, which is 25% of the average daily trading volume of 37,621 for the six months prior to the NCIB [2]. - All common shares purchased under the NCIB will be cancelled [2]. Group 2: Management's Perspective - Management believes that the market price of the common shares may not fully reflect their underlying value, making the purchase of shares an attractive investment opportunity that benefits remaining shareholders [3]. Group 3: Previous NCIB Performance - During the previous NCIB, which ends on May 9, 2025, the company was approved to purchase 4,542,945 common shares and had purchased 623,950 shares at a weighted average price of approximately $8.50 per share as of April 30, 2025 [4]. Group 4: Automatic Share Purchase Plan (ASPP) - The company has established an automatic share purchase plan (ASPP) with its designated broker to facilitate common share repurchases during regulatory restrictions or self-imposed blackout periods [5]. - Under the ASPP, the company may instruct its broker to make purchases prior to entering a blackout period, with such purchases counting towards the total number of shares purchased under the NCIB [6]. Group 5: Company Overview - Black Diamond is a specialty rentals and industrial services company operating in Canada, the United States, and Australia, with two main business units: Modular Space Solutions (MSS) and Workforce Solutions (WFS) [7]. - MSS operates a large rental fleet of modular buildings and provides services to various sectors including construction, industrial, education, financial, and government [8]. - WFS owns a rental fleet of modular accommodation assets and serves customers in resource, infrastructure, construction, disaster recovery, and education sectors, including a digital marketplace for crew accommodation and travel [9][10].