Fairfax Announces Termination of Total Return Swaps of Ensign Energy Services Inc. and Acquisition of Common Shares

Fairfax Financial Holdings Limited announced on June 10, 2024, that it terminated total return swaps over 7,787,600 common shares of Ensign Energy Services Inc. Fairfax agreed to purchase these common shares at a price of C$2.34 per share, representing 4.24% of the outstanding common shares.

Prior to this acquisition, Fairfax owned and controlled 21,800,886 common shares, which accounted for approximately 11.86% of all issued and outstanding common shares. Following the acquisition, Fairfax now owns and controls 29,588,486 common shares, representing approximately 16.10% of all issued and outstanding common shares.

The common shares were acquired for investment purposes, and Fairfax may engage in discussions with management or the board of directors regarding potential transactions in the future. Fairfax will file an early warning report in accordance with applicable securities laws.

Fairfax is a corporation engaged in property and casualty insurance, reinsurance, and investment management through its subsidiaries. For further information, contact John Varnell, Vice President of Corporate Development at (416) 367-4941.