Fairfax group details 45.3M Under Armour (UA) Class A shares

Rhea-AI Filing Summary

Fairfax Financial Holdings Limited and its affiliates report beneficial ownership of 45,300,872 Class A Shares of Under Armour, Inc., representing 24.0% of the class. This stake is calculated using 188,834,386 Class A Shares outstanding as of January 31, 2026.

The filing is Amendment No. 1 to a Schedule 13D and updates the list of 31 reporting persons, including V. Prem Watsa and numerous Fairfax-controlled insurance and holding companies. For each reporting person, the amendment details shared voting and shared dispositive power over the reported shares, with no sole voting or dispositive power.

The document also states that no other person has the right to receive dividends or sale proceeds from these shares beyond the reporting persons. Exhibits referenced in the amendment list directors and executive officers, their individual beneficial ownership, and any transactions in Under Armour Class A Shares during the last 60 days.

Key Figures

Beneficial ownership: 45,300,872 Class A Shares Ownership percentage: 24.0% of Class A Shares Shares outstanding: 188,834,386 Class A Shares +5 more

8 metrics

Beneficial ownership 45,300,872 Class A Shares Shares beneficially owned by each of the primary reporting persons

Ownership percentage 24.0% of Class A Shares Percent of class represented by 45,300,872 shares

Shares outstanding 188,834,386 Class A Shares Under Armour Class A Shares outstanding as of January 31, 2026

FFHL Group holding 34,077,356 shares (18.0%) Aggregate amount beneficially owned by FFHL Group Ltd.

Fairfax (US) holding 31,098,326 shares (16.5%) Aggregate amount beneficially owned by FAIRFAX (US) INC.

Crum & Forster holding 19,742,322 shares (10.5%) Aggregate amount beneficially owned by CRUM & FORSTER HOLDINGS CORP.

North River holding 4,862,016 shares (2.6%) Aggregate amount beneficially owned by THE NORTH RIVER INSURANCE COMPANY

Allied World Assurance holding 11,223,516 shares (5.9%) Aggregate amount beneficially owned by Allied World Assurance entities

Key Terms

beneficially owned, shared voting power, shared dispositive power, Schedule 13D, +2 more

6 terms

beneficially owned financial

"the aggregate number and percentage of Shares ... that are beneficially owned by each of the Reporting Persons"

Beneficially owned describes securities or assets where a person has the economic rights and control—such as the right to receive dividends and to direct voting—even if legal title is held in another name. Think of it like having the keys and using a car that’s registered to someone else: you get the benefits and make decisions. Investors care because beneficial ownership reveals who truly controls value and voting power, affecting corporate decisions and takeover dynamics.

shared voting power financial

"Number of Shares Beneficially Owned by Each Reporting Person With: 7 Sole Voting Power 0.00 8 Shared Voting Power 45,300,872.00"

Shared voting power occurs when two or more parties jointly have the right to vote or decide how a block of company shares is cast, like co-owners who must agree before moving a piece of furniture. Investors care because who controls voting rights affects board elections, major corporate decisions and takeover outcomes, and shared control can alter regulatory disclosures and the practical influence any holder has over a company’s direction and value.

shared dispositive power financial

"Number of Shares Beneficially Owned by Each Reporting Person With: 9 Sole Dispositive Power 0.00 10 Shared Dispositive Power 45,300,872.00"

Schedule 13D regulatory

"this Amendment No. 1 to (this "Amendment") amends the statement on filed with the (the "SEC")"

A Schedule 13D is a legal document that investors file with regulators when they buy a large enough stake in a company to potentially influence its management or decisions. It provides details about the investor’s intention, ownership stake, and plans, helping other investors understand who is gaining control and what their motives might be.

Exchange Act regulatory

"Pursuant to Rule 13d-2 promulgated , as amended (the "Exchange Act"), this Amendment No. 1"

A federal law that sets rules for trading securities on public exchanges, requiring companies and market participants to register, disclose regular financial information, and follow standards that promote honest, orderly markets. For investors, it matters because it creates transparency and legal protections—like stopping insider trading and ensuring timely company disclosures—so you can evaluate risks and rely on consistent rules much as players rely on a referee to keep a game fair.

joint filing agreement regulatory

"Exhibit 99.7 Joint Filing Agreement dated as of May 15, 2026 among the Reporting Persons"

SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

SCHEDULE 13D

Under the Securities Exchange Act of 1934

(Amendment No. 1)

Under Armour, Inc.

(Name of Issuer)

Class A Common Stock ("Class A Shares")

(Title of Class of Securities)

904311107

(CUSIP Number)

Sean J. Skiffington
Allen Overy Shearman Sterling US LLP, Commerce Court West, 199 Bay Street
Toronto, A6, M5L 1E8
647.280.5756

Ryan E. Robski
Allen Overy Shearman Sterling US LLP, Commerce Court West, 199 Bay Street
Toronto, A6, M5L 1E8
416.302.1391

(Name, Address and Telephone Number of Person Authorized to Receive Notices and Communications)

05/13/2026

(Date of Event Which Requires Filing of This Statement)

If the filing person has previously filed a statement on Schedule 13G to report the acquisition that is the subject of this Schedule 13D, and is filing this schedule because of §§ 240.13d-1(e), 240.13d-1(f) or 240.13d-1(g), check the following box.

The information required on the remainder of this cover page shall not be deemed to be "filed" for the purpose of Section 18 of the Securities Exchange Act of 1934 ("Act") or otherwise subject to the liabilities of that section of the Act but shall be subject to all other provisions of the Act (however, see the Notes).

schemaVersion:

SCHEDULE 13D

CUSIP Number(s): 904311107

1

Name of reporting person

V. PREM WATSA

2

Check the appropriate box if a member of a Group (See Instructions)

(a)
(b)

3

SEC use only

4

Source of funds (See Instructions)

OO

5

Check if disclosure of legal proceedings is required pursuant to Items 2(d) or 2(e)

6

Citizenship or place of organization

CANADA (FEDERAL LEVEL)

Number of Shares Beneficially Owned by Each Reporting Person With:

7	Sole Voting Power 0.00
8	Shared Voting Power 45,300,872.00
9	Sole Dispositive Power 0.00
10	Shared Dispositive Power 45,300,872.00

11

Aggregate amount beneficially owned by each reporting person

45,300,872.00

12

Check if the aggregate amount in Row (11) excludes certain shares (See Instructions)

13

Percent of class represented by amount in Row (11)

24.0 %

14

Type of Reporting Person (See Instructions)

IN

SCHEDULE 13D

CUSIP Number(s): 904311107

1

Name of reporting person

THE SECOND 810 HOLDCO LTD.

2

Check the appropriate box if a member of a Group (See Instructions)

(a)
(b)

3

SEC use only

4

Source of funds (See Instructions)

OO

5

Check if disclosure of legal proceedings is required pursuant to Items 2(d) or 2(e)

6

Citizenship or place of organization

CANADA (FEDERAL LEVEL)

Number of Shares Beneficially Owned by Each Reporting Person With:

7	Sole Voting Power 0.00
8	Shared Voting Power 45,300,872.00
9	Sole Dispositive Power 0.00
10	Shared Dispositive Power 45,300,872.00

11

Aggregate amount beneficially owned by each reporting person

45,300,872.00

12

Check if the aggregate amount in Row (11) excludes certain shares (See Instructions)

13

Percent of class represented by amount in Row (11)

24.0 %

14

Type of Reporting Person (See Instructions)

CO

SCHEDULE 13D

CUSIP Number(s): 904311107

1

Name of reporting person

THE SECOND 1109 HOLDCO LTD.

2

Check the appropriate box if a member of a Group (See Instructions)

(a)
(b)

3

SEC use only

4

Source of funds (See Instructions)

OO

5

Check if disclosure of legal proceedings is required pursuant to Items 2(d) or 2(e)

6

Citizenship or place of organization

CANADA (FEDERAL LEVEL)

Number of Shares Beneficially Owned by Each Reporting Person With:

7	Sole Voting Power 0.00
8	Shared Voting Power 45,300,872.00
9	Sole Dispositive Power 0.00
10	Shared Dispositive Power 45,300,872.00

11

Aggregate amount beneficially owned by each reporting person

45,300,872.00

12

Check if the aggregate amount in Row (11) excludes certain shares (See Instructions)

13

Percent of class represented by amount in Row (11)

24.0 %

14

Type of Reporting Person (See Instructions)

CO

SCHEDULE 13D

CUSIP Number(s): 904311107

1

Name of reporting person

THE SIXTY TWO INVESTMENT COMPANY LIMITED

2

Check the appropriate box if a member of a Group (See Instructions)

(a)
(b)

3

SEC use only

4

Source of funds (See Instructions)

OO

5

Check if disclosure of legal proceedings is required pursuant to Items 2(d) or 2(e)

6

Citizenship or place of organization

BRITISH COLUMBIA, CANADA

Number of Shares Beneficially Owned by Each Reporting Person With:

7	Sole Voting Power 0.00
8	Shared Voting Power 45,300,872.00
9	Sole Dispositive Power 0.00
10	Shared Dispositive Power 45,300,872.00

11

Aggregate amount beneficially owned by each reporting person

45,300,872.00

12

Check if the aggregate amount in Row (11) excludes certain shares (See Instructions)

13

Percent of class represented by amount in Row (11)

24.0 %

14

Type of Reporting Person (See Instructions)

CO

SCHEDULE 13D

CUSIP Number(s): 904311107

1

Name of reporting person

FAIRFAX FINANCIAL HOLDINGS LIMITED

2

Check the appropriate box if a member of a Group (See Instructions)

(a)
(b)

3

SEC use only

4

Source of funds (See Instructions)

OO

5

Check if disclosure of legal proceedings is required pursuant to Items 2(d) or 2(e)

6

Citizenship or place of organization

CANADA (FEDERAL LEVEL)

Number of Shares Beneficially Owned by Each Reporting Person With:

7	Sole Voting Power 0.00
8	Shared Voting Power 45,300,872.00
9	Sole Dispositive Power 0.00
10	Shared Dispositive Power 45,300,872.00

11

Aggregate amount beneficially owned by each reporting person

45,300,872.00

12

Check if the aggregate amount in Row (11) excludes certain shares (See Instructions)

13

Percent of class represented by amount in Row (11)

24.0 %

14

Type of Reporting Person (See Instructions)

CO

SCHEDULE 13D

CUSIP Number(s): 904311107

1

Name of reporting person

FFHL GROUP LTD.

2

Check the appropriate box if a member of a Group (See Instructions)

(a)
(b)

3

SEC use only

4

Source of funds (See Instructions)

OO

5

Check if disclosure of legal proceedings is required pursuant to Items 2(d) or 2(e)

6

Citizenship or place of organization

CANADA (FEDERAL LEVEL)

Number of Shares Beneficially Owned by Each Reporting Person With:

7	Sole Voting Power 0.00
8	Shared Voting Power 34,077,356.00
9	Sole Dispositive Power 0.00
10	Shared Dispositive Power 34,077,356.00

11

Aggregate amount beneficially owned by each reporting person

34,077,356.00

12

Check if the aggregate amount in Row (11) excludes certain shares (See Instructions)

13

Percent of class represented by amount in Row (11)

18.0 %

14

Type of Reporting Person (See Instructions)

CO

SCHEDULE 13D

CUSIP Number(s): 904311107

1

Name of reporting person

FAIRFAX (BARBADOS) INTERNATIONAL CORP.

2

Check the appropriate box if a member of a Group (See Instructions)

(a)
(b)

3

SEC use only

4

Source of funds (See Instructions)

OO

5

Check if disclosure of legal proceedings is required pursuant to Items 2(d) or 2(e)

6

Citizenship or place of organization

BARBADOS

Number of Shares Beneficially Owned by Each Reporting Person With:

7	Sole Voting Power 0.00
8	Shared Voting Power 60,950.00
9	Sole Dispositive Power 0.00
10	Shared Dispositive Power 60,950.00

11

Aggregate amount beneficially owned by each reporting person

60,950.00

12

Check if the aggregate amount in Row (11) excludes certain shares (See Instructions)

13

Percent of class represented by amount in Row (11)

0.0 %

14

Type of Reporting Person (See Instructions)

CO

SCHEDULE 13D

CUSIP Number(s): 904311107

1

Name of reporting person

WENTWORTH INSURANCE COMPANY LTD.

2

Check the appropriate box if a member of a Group (See Instructions)

(a)
(b)

3

SEC use only

4

Source of funds (See Instructions)

OO

5

Check if disclosure of legal proceedings is required pursuant to Items 2(d) or 2(e)

6

Citizenship or place of organization

BARBADOS

Number of Shares Beneficially Owned by Each Reporting Person With:

7	Sole Voting Power 0.00
8	Shared Voting Power 60,950.00
9	Sole Dispositive Power 0.00
10	Shared Dispositive Power 60,950.00

11

Aggregate amount beneficially owned by each reporting person

60,950.00

12

Check if the aggregate amount in Row (11) excludes certain shares (See Instructions)

13

Percent of class represented by amount in Row (11)

0.0 %

14

Type of Reporting Person (See Instructions)

CO

SCHEDULE 13D

CUSIP Number(s): 904311107

1

Name of reporting person

FAIRFAX (US) INC.

2

Check the appropriate box if a member of a Group (See Instructions)

(a)
(b)

3

SEC use only

4

Source of funds (See Instructions)

OO

5

Check if disclosure of legal proceedings is required pursuant to Items 2(d) or 2(e)

6

Citizenship or place of organization

DELAWARE

Number of Shares Beneficially Owned by Each Reporting Person With:

7	Sole Voting Power 0.00
8	Shared Voting Power 31,098,326.00
9	Sole Dispositive Power 0.00
10	Shared Dispositive Power 31,098,326.00

11

Aggregate amount beneficially owned by each reporting person

31,098,326.00

12

Check if the aggregate amount in Row (11) excludes certain shares (See Instructions)

13

Percent of class represented by amount in Row (11)

16.5 %

14

Type of Reporting Person (See Instructions)

CO

SCHEDULE 13D

CUSIP Number(s): 904311107

1

Name of reporting person

ODYSSEY GROUP HOLDINGS, INC.

2

Check the appropriate box if a member of a Group (See Instructions)

(a)
(b)

3

SEC use only

4

Source of funds (See Instructions)

OO

5

Check if disclosure of legal proceedings is required pursuant to Items 2(d) or 2(e)

6

Citizenship or place of organization

DELAWARE

Number of Shares Beneficially Owned by Each Reporting Person With:

7	Sole Voting Power 0.00
8	Shared Voting Power 11,280,564.00
9	Sole Dispositive Power 0.00
10	Shared Dispositive Power 11,280,564.00

11

Aggregate amount beneficially owned by each reporting person

11,280,564.00

12

Check if the aggregate amount in Row (11) excludes certain shares (See Instructions)

13

Percent of class represented by amount in Row (11)

6.0 %

14

Type of Reporting Person (See Instructions)

CO

SCHEDULE 13D

CUSIP Number(s): 904311107

1

Name of reporting person

ODYSSEY REINSURANCE COMPANY

2

Check the appropriate box if a member of a Group (See Instructions)

(a)
(b)

3

SEC use only

4

Source of funds (See Instructions)

OO

5

Check if disclosure of legal proceedings is required pursuant to Items 2(d) or 2(e)

6

Citizenship or place of organization

CONNECTICUT

Number of Shares Beneficially Owned by Each Reporting Person With:

7	Sole Voting Power 0.00
8	Shared Voting Power 11,280,564.00
9	Sole Dispositive Power 0.00
10	Shared Dispositive Power 11,280,564.00

11

Aggregate amount beneficially owned by each reporting person

11,280,564.00

12

Check if the aggregate amount in Row (11) excludes certain shares (See Instructions)

13

Percent of class represented by amount in Row (11)

6.0 %

14

Type of Reporting Person (See Instructions)

CO

SCHEDULE 13D

CUSIP Number(s): 904311107

1

Name of reporting person

HUDSON INSURANCE COMPANY

2

Check the appropriate box if a member of a Group (See Instructions)

(a)
(b)

3

SEC use only

4

Source of funds (See Instructions)

OO

5

Check if disclosure of legal proceedings is required pursuant to Items 2(d) or 2(e)

6

Citizenship or place of organization

DELAWARE

Number of Shares Beneficially Owned by Each Reporting Person With:

7	Sole Voting Power 0.00
8	Shared Voting Power 265,190.00
9	Sole Dispositive Power 0.00
10	Shared Dispositive Power 265,190.00

11

Aggregate amount beneficially owned by each reporting person

265,190.00

12

Check if the aggregate amount in Row (11) excludes certain shares (See Instructions)

13

Percent of class represented by amount in Row (11)

0.1 %

14

Type of Reporting Person (See Instructions)

CO

SCHEDULE 13D

CUSIP Number(s): 904311107

1

Name of reporting person

HUDSON EXCESS INSURANCE COMPANY

2

Check the appropriate box if a member of a Group (See Instructions)

(a)
(b)

3

SEC use only

4

Source of funds (See Instructions)

OO

5

Check if disclosure of legal proceedings is required pursuant to Items 2(d) or 2(e)

6

Citizenship or place of organization

DELAWARE

Number of Shares Beneficially Owned by Each Reporting Person With:

7	Sole Voting Power 0.00
8	Shared Voting Power 167,670.00
9	Sole Dispositive Power 0.00
10	Shared Dispositive Power 167,670.00

11

Aggregate amount beneficially owned by each reporting person

167,670.00

12

Check if the aggregate amount in Row (11) excludes certain shares (See Instructions)

13

Percent of class represented by amount in Row (11)

0.1 %

14

Type of Reporting Person (See Instructions)

CO

SCHEDULE 13D

CUSIP Number(s): 904311107

1

Name of reporting person

ZENITH NATIONAL INSURANCE CORP.

2

Check the appropriate box if a member of a Group (See Instructions)

(a)
(b)

3

SEC use only

4

Source of funds (See Instructions)

OO

5

Check if disclosure of legal proceedings is required pursuant to Items 2(d) or 2(e)

6

Citizenship or place of organization

DELAWARE

Number of Shares Beneficially Owned by Each Reporting Person With:

7	Sole Voting Power 0.00
8	Shared Voting Power 75,440.00
9	Sole Dispositive Power 0.00
10	Shared Dispositive Power 75,440.00

11

Aggregate amount beneficially owned by each reporting person

75,440.00

12

Check if the aggregate amount in Row (11) excludes certain shares (See Instructions)

13

Percent of class represented by amount in Row (11)

0.0 %

14

Type of Reporting Person (See Instructions)

CO

SCHEDULE 13D

CUSIP Number(s): 904311107

1

Name of reporting person

ZENITH INSURANCE COMPANY

2

Check the appropriate box if a member of a Group (See Instructions)

(a)
(b)

3

SEC use only

4

Source of funds (See Instructions)

OO

5

Check if disclosure of legal proceedings is required pursuant to Items 2(d) or 2(e)

6

Citizenship or place of organization

CALIFORNIA

Number of Shares Beneficially Owned by Each Reporting Person With:

7	Sole Voting Power 0.00
8	Shared Voting Power 75,440.00
9	Sole Dispositive Power 0.00
10	Shared Dispositive Power 75,440.00

11

Aggregate amount beneficially owned by each reporting person

75,440.00

12

Check if the aggregate amount in Row (11) excludes certain shares (See Instructions)

13

Percent of class represented by amount in Row (11)

0.0 %

14

Type of Reporting Person (See Instructions)

CO

SCHEDULE 13D

CUSIP Number(s): 904311107

1

Name of reporting person

CRUM & FORSTER HOLDINGS CORP.

2

Check the appropriate box if a member of a Group (See Instructions)

(a)
(b)

3

SEC use only

4

Source of funds (See Instructions)

OO

5

Check if disclosure of legal proceedings is required pursuant to Items 2(d) or 2(e)

6

Citizenship or place of organization

DELAWARE

Number of Shares Beneficially Owned by Each Reporting Person With:

7	Sole Voting Power 0.00
8	Shared Voting Power 19,742,322.00
9	Sole Dispositive Power 0.00
10	Shared Dispositive Power 19,742,322.00

11

Aggregate amount beneficially owned by each reporting person

19,742,322.00

12

Check if the aggregate amount in Row (11) excludes certain shares (See Instructions)

13

Percent of class represented by amount in Row (11)

10.5 %

14

Type of Reporting Person (See Instructions)

CO

SCHEDULE 13D

CUSIP Number(s): 904311107

1

Name of reporting person

UNITED STATES FIRE INSURANCE COMPANY

2

Check the appropriate box if a member of a Group (See Instructions)

(a)
(b)

3

SEC use only

4

Source of funds (See Instructions)

OO

5

Check if disclosure of legal proceedings is required pursuant to Items 2(d) or 2(e)

6

Citizenship or place of organization

DELAWARE

Number of Shares Beneficially Owned by Each Reporting Person With:

7	Sole Voting Power 0.00
8	Shared Voting Power 19,742,322.00
9	Sole Dispositive Power 0.00
10	Shared Dispositive Power 19,742,322.00

11

Aggregate amount beneficially owned by each reporting person

19,742,322.00

12

Check if the aggregate amount in Row (11) excludes certain shares (See Instructions)

13

Percent of class represented by amount in Row (11)

10.5 %

14

Type of Reporting Person (See Instructions)

CO

SCHEDULE 13D

CUSIP Number(s): 904311107

1

Name of reporting person

THE NORTH RIVER INSURANCE COMPANY

2

Check the appropriate box if a member of a Group (See Instructions)

(a)
(b)

3

SEC use only

4

Source of funds (See Instructions)

OO

5

Check if disclosure of legal proceedings is required pursuant to Items 2(d) or 2(e)

6

Citizenship or place of organization

NEW JERSEY

Number of Shares Beneficially Owned by Each Reporting Person With:

7	Sole Voting Power 0.00
8	Shared Voting Power 4,862,016.00
9	Sole Dispositive Power 0.00
10	Shared Dispositive Power 4,862,016.00

11

Aggregate amount beneficially owned by each reporting person

4,862,016.00

12

Check if the aggregate amount in Row (11) excludes certain shares (See Instructions)

13

Percent of class represented by amount in Row (11)

2.6 %

14

Type of Reporting Person (See Instructions)

CO

SCHEDULE 13D

CUSIP Number(s): 904311107

1

Name of reporting person

FAIRFAX UK HOLDINGS LIMITED

2

Check the appropriate box if a member of a Group (See Instructions)

(a)
(b)

3

SEC use only

4

Source of funds (See Instructions)

OO

5

Check if disclosure of legal proceedings is required pursuant to Items 2(d) or 2(e)

6

Citizenship or place of organization

UNITED KINGDOM

Number of Shares Beneficially Owned by Each Reporting Person With:

7	Sole Voting Power 0.00
8	Shared Voting Power 2,918,080.00
9	Sole Dispositive Power 0.00
10	Shared Dispositive Power 2,918,080.00

11

Aggregate amount beneficially owned by each reporting person

2,918,080.00

12

Check if the aggregate amount in Row (11) excludes certain shares (See Instructions)

13

Percent of class represented by amount in Row (11)

1.5 %

14

Type of Reporting Person (See Instructions)

CO

SCHEDULE 13D

CUSIP Number(s): 904311107

1

Name of reporting person

BRIT GROUP HOLDINGS LIMITED

2

Check the appropriate box if a member of a Group (See Instructions)

(a)
(b)

3

SEC use only

4

Source of funds (See Instructions)

OO

5

Check if disclosure of legal proceedings is required pursuant to Items 2(d) or 2(e)

6

Citizenship or place of organization

UNITED KINGDOM

Number of Shares Beneficially Owned by Each Reporting Person With:

7	Sole Voting Power 0.00
8	Shared Voting Power 2,918,080.00
9	Sole Dispositive Power 0.00
10	Shared Dispositive Power 2,918,080.00

11

Aggregate amount beneficially owned by each reporting person

2,918,080.00

12

Check if the aggregate amount in Row (11) excludes certain shares (See Instructions)

13

Percent of class represented by amount in Row (11)

1.5 %

14

Type of Reporting Person (See Instructions)

CO

SCHEDULE 13D

CUSIP Number(s): 904311107

1

Name of reporting person

BRIT INSURANCE HOLDINGS LIMITED

2

Check the appropriate box if a member of a Group (See Instructions)

(a)
(b)

3

SEC use only

4

Source of funds (See Instructions)

OO

5

Check if disclosure of legal proceedings is required pursuant to Items 2(d) or 2(e)

6

Citizenship or place of organization

UNITED KINGDOM

Number of Shares Beneficially Owned by Each Reporting Person With:

7	Sole Voting Power 0.00
8	Shared Voting Power 2,918,080.00
9	Sole Dispositive Power 0.00
10	Shared Dispositive Power 2,918,080.00

11

Aggregate amount beneficially owned by each reporting person

2,918,080.00

12

Check if the aggregate amount in Row (11) excludes certain shares (See Instructions)

13

Percent of class represented by amount in Row (11)

1.5 %

14

Type of Reporting Person (See Instructions)

CO

SCHEDULE 13D

CUSIP Number(s): 904311107

1

Name of reporting person

BRIT REINSURANCE (BERMUDA) LIMITED

2

Check the appropriate box if a member of a Group (See Instructions)

(a)
(b)

3

SEC use only

4

Source of funds (See Instructions)

OO

5

Check if disclosure of legal proceedings is required pursuant to Items 2(d) or 2(e)

6

Citizenship or place of organization

BERMUDA

Number of Shares Beneficially Owned by Each Reporting Person With:

7	Sole Voting Power 0.00
8	Shared Voting Power 2,918,080.00
9	Sole Dispositive Power 0.00
10	Shared Dispositive Power 2,918,080.00

11

Aggregate amount beneficially owned by each reporting person

2,918,080.00

12

Check if the aggregate amount in Row (11) excludes certain shares (See Instructions)

13

Percent of class represented by amount in Row (11)

1.5 %

14

Type of Reporting Person (See Instructions)

CO

SCHEDULE 13D

CUSIP Number(s): 904311107

1

Name of reporting person

1102952 B.C. UNLIMITED LIABILITY COMPANY

2

Check the appropriate box if a member of a Group (See Instructions)

(a)
(b)

3

SEC use only

4

Source of funds (See Instructions)

OO

5

Check if disclosure of legal proceedings is required pursuant to Items 2(d) or 2(e)

6

Citizenship or place of organization

BRITISH COLUMBIA, CANADA

Number of Shares Beneficially Owned by Each Reporting Person With:

7	Sole Voting Power 0.00
8	Shared Voting Power 11,223,516.00
9	Sole Dispositive Power 0.00
10	Shared Dispositive Power 11,223,516.00

11

Aggregate amount beneficially owned by each reporting person

11,223,516.00

12

Check if the aggregate amount in Row (11) excludes certain shares (See Instructions)

13

Percent of class represented by amount in Row (11)

5.9 %

14

Type of Reporting Person (See Instructions)

CO

SCHEDULE 13D

CUSIP Number(s): 904311107

1

Name of reporting person

ALLIED WORLD ASSURANCE COMPANY HOLDINGS, LTD

2

Check the appropriate box if a member of a Group (See Instructions)

(a)
(b)

3

SEC use only

4

Source of funds (See Instructions)

OO

5

Check if disclosure of legal proceedings is required pursuant to Items 2(d) or 2(e)

6

Citizenship or place of organization

BERMUDA

Number of Shares Beneficially Owned by Each Reporting Person With:

7	Sole Voting Power 0.00
8	Shared Voting Power 11,223,516.00
9	Sole Dispositive Power 0.00
10	Shared Dispositive Power 11,223,516.00

11

Aggregate amount beneficially owned by each reporting person

11,223,516.00

12

Check if the aggregate amount in Row (11) excludes certain shares (See Instructions)

13

Percent of class represented by amount in Row (11)

5.9 %

14

Type of Reporting Person (See Instructions)

CO

SCHEDULE 13D

CUSIP Number(s): 904311107

1

Name of reporting person

ALLIED WORLD ASSURANCE COMPANY HOLDINGS I, LTD

2

Check the appropriate box if a member of a Group (See Instructions)

(a)
(b)

3

SEC use only

4

Source of funds (See Instructions)

OO

5

Check if disclosure of legal proceedings is required pursuant to Items 2(d) or 2(e)

6

Citizenship or place of organization

BERMUDA

Number of Shares Beneficially Owned by Each Reporting Person With:

7	Sole Voting Power 0.00
8	Shared Voting Power 11,223,516.00
9	Sole Dispositive Power 0.00
10	Shared Dispositive Power 11,223,516.00

11

Aggregate amount beneficially owned by each reporting person

11,223,516.00

12

Check if the aggregate amount in Row (11) excludes certain shares (See Instructions)

13

Percent of class represented by amount in Row (11)

5.9 %

14

Type of Reporting Person (See Instructions)

CO

SCHEDULE 13D

CUSIP Number(s): 904311107

1

Name of reporting person

ALLIED WORLD ASSURANCE COMPANY, LTD

2

Check the appropriate box if a member of a Group (See Instructions)

(a)
(b)

3

SEC use only

4

Source of funds (See Instructions)

OO

5

Check if disclosure of legal proceedings is required pursuant to Items 2(d) or 2(e)

6

Citizenship or place of organization

BERMUDA

Number of Shares Beneficially Owned by Each Reporting Person With:

7	Sole Voting Power 0.00
8	Shared Voting Power 11,223,516.00
9	Sole Dispositive Power 0.00
10	Shared Dispositive Power 11,223,516.00

11

Aggregate amount beneficially owned by each reporting person

11,223,516.00

12

Check if the aggregate amount in Row (11) excludes certain shares (See Instructions)

13

Percent of class represented by amount in Row (11)

5.9 %

14

Type of Reporting Person (See Instructions)

CO

SCHEDULE 13D

CUSIP Number(s): 904311107

1

Name of reporting person

ALLIED WORLD ASSURANCE HOLDINGS (IRELAND) LTD

2

Check the appropriate box if a member of a Group (See Instructions)

(a)
(b)

3

SEC use only

4

Source of funds (See Instructions)

OO

5

Check if disclosure of legal proceedings is required pursuant to Items 2(d) or 2(e)

6

Citizenship or place of organization

BERMUDA

Number of Shares Beneficially Owned by Each Reporting Person With:

7	Sole Voting Power 0.00
8	Shared Voting Power 8,408,214.00
9	Sole Dispositive Power 0.00
10	Shared Dispositive Power 8,408,214.00

11

Aggregate amount beneficially owned by each reporting person

8,408,214.00

12

Check if the aggregate amount in Row (11) excludes certain shares (See Instructions)

13

Percent of class represented by amount in Row (11)

4.5 %

14

Type of Reporting Person (See Instructions)

CO

SCHEDULE 13D

CUSIP Number(s): 904311107

1

Name of reporting person

ALLIED WORLD ASSURANCE HOLDINGS (U.S.) INC.

2

Check the appropriate box if a member of a Group (See Instructions)

(a)
(b)

3

SEC use only

4

Source of funds (See Instructions)

OO

5

Check if disclosure of legal proceedings is required pursuant to Items 2(d) or 2(e)

6

Citizenship or place of organization

BERMUDA

Number of Shares Beneficially Owned by Each Reporting Person With:

7	Sole Voting Power 0.00
8	Shared Voting Power 8,408,214.00
9	Sole Dispositive Power 0.00
10	Shared Dispositive Power 8,408,214.00

11

Aggregate amount beneficially owned by each reporting person

8,408,214.00

12

Check if the aggregate amount in Row (11) excludes certain shares (See Instructions)

13

Percent of class represented by amount in Row (11)

4.5 %

14

Type of Reporting Person (See Instructions)

CO

SCHEDULE 13D

CUSIP Number(s): 904311107

1

Name of reporting person

ALLIED WORLD INSURANCE COMPANY

2

Check the appropriate box if a member of a Group (See Instructions)

(a)
(b)

3

SEC use only

4

Source of funds (See Instructions)

OO

5

Check if disclosure of legal proceedings is required pursuant to Items 2(d) or 2(e)

6

Citizenship or place of organization

NEW HAMPSHIRE

Number of Shares Beneficially Owned by Each Reporting Person With:

7	Sole Voting Power 0.00
8	Shared Voting Power 8,408,214.00
9	Sole Dispositive Power 0.00
10	Shared Dispositive Power 8,408,214.00

11

Aggregate amount beneficially owned by each reporting person

8,408,214.00

12

Check if the aggregate amount in Row (11) excludes certain shares (See Instructions)

13

Percent of class represented by amount in Row (11)

4.5 %

14

Type of Reporting Person (See Instructions)

CO

SCHEDULE 13D

CUSIP Number(s): 904311107

1

Name of reporting person

AW UNDERWRITERS INC.

2

Check the appropriate box if a member of a Group (See Instructions)

(a)
(b)

3

SEC use only

4

Source of funds (See Instructions)

OO

5

Check if disclosure of legal proceedings is required pursuant to Items 2(d) or 2(e)

6

Citizenship or place of organization

DELAWARE

Number of Shares Beneficially Owned by Each Reporting Person With:

7	Sole Voting Power 0.00
8	Shared Voting Power 624,950.00
9	Sole Dispositive Power 0.00
10	Shared Dispositive Power 624,950.00

11

Aggregate amount beneficially owned by each reporting person

624,950.00

12

Check if the aggregate amount in Row (11) excludes certain shares (See Instructions)

13

Percent of class represented by amount in Row (11)

0.3 %

14

Type of Reporting Person (See Instructions)

CO

SCHEDULE 13D

CUSIP Number(s): 904311107

1

Name of reporting person

ALLIED WORLD SPECIALTY INSURANCE COMPANY

2

Check the appropriate box if a member of a Group (See Instructions)

(a)
(b)

3

SEC use only

4

Source of funds (See Instructions)

OO

5

Check if disclosure of legal proceedings is required pursuant to Items 2(d) or 2(e)

6

Citizenship or place of organization

DELAWARE

Number of Shares Beneficially Owned by Each Reporting Person With:

7	Sole Voting Power 0.00
8	Shared Voting Power 624,950.00
9	Sole Dispositive Power 0.00
10	Shared Dispositive Power 624,950.00

11

Aggregate amount beneficially owned by each reporting person

624,950.00

12

Check if the aggregate amount in Row (11) excludes certain shares (See Instructions)

13

Percent of class represented by amount in Row (11)

0.3 %

14

Type of Reporting Person (See Instructions)

CO

SCHEDULE 13D

Item 1.	Security and Issuer
(a)	Title of Class of Securities: Class A Common Stock ("Class A Shares")
(b)	Name of Issuer: Under Armour, Inc.
(c)	Address of Issuer's Principal Executive Offices: 101 PERFORMANCE DRIVE, BALTIMORE, MARYLAND , 21230.
Item 1 Comment: Pursuant to Rule 13d-2 promulgated under the Securities Exchange Act of 1934, as amended (the "Exchange Act"), this Amendment No. 1 to Schedule 13D (this "Amendment") amends the statement on Schedule 13D filed with the United States Securities and Exchange Commission (the "SEC") on January 1, 2026 (as amended and supplemented prior to the date hereof, the "Original Schedule 13D" and, as amended and supplemented by this Amendment, the "Schedule 13D") by Fairfax Financial Holdings Limited and certain of its affiliates relating to the class A common stock ("Shares"), of Under Armour, Inc. ("Under Armour"). The following amendments to Items 2, 5 and 7 of the Original Schedule 13D are hereby made:
Item 2.	Identity and Background
(a)	Item 2 of the Original Schedule 13D is hereby amended and restated in its entirety to read as follows: (i) V. PREM WATSA (ii) THE SECOND 810 HOLDCO LTD. (iii) THE SECOND 1109 HOLDCO LTD. (iv) THE SIXTY TWO INVESTMENT COMPANY LIMITED (v) FAIRFAX FINANCIAL HOLDINGS LIMITED (vi) FFHL GROUP LTD. (vii) FAIRFAX (BARBADOS) INTERNATIONAL CORP. (viii) WENTWORTH INSURANCE COMPANY LTD. (ix) FAIRFAX (US) INC. (x) ODYSSEY GROUP HOLDINGS, INC. (xi) ODYSSEY REINSURANCE COMPANY (xii) HUDSON INSURANCE COMPANY (xiii) HUDSON EXCESS INSURANCE COMPANY (xiv) ZENITH NATIONAL INSURANCE CORP. (xv) ZENITH INSURANCE COMPANY (xvi) CRUM & FORSTER HOLDINGS CORP. (xvii) UNITED STATES FIRE INSURANCE COMPANY (xviii) THE NORTH RIVER INSURANCE COMPANY (xix) FAIRFAX UK HOLDINGS LIMITED (xx) BRIT GROUP HOLDINGS LIMITED (xxi) BRIT INSURANCE HOLDINGS LIMITED (xxii) BRIT REINSURANCE (BERMUDA) LIMITED (xxiii) 1102952 B.C. UNLIMITED LIABILITY COMPANY (xxiv) ALLIED WORLD ASSURANCE COMPANY HOLDINGS, LTD (xxv) ALLIED WORLD ASSURANCE COMPANY HOLDINGS I, LTD (xxvi) ALLIED WORLD ASSURANCE COMPANY, LTD (xxvii) ALLIED WORLD ASSURANCE HOLDINGS (IRELAND) LTD (xxviii) ALLIED WORLD ASSURANCE HOLDINGS (U.S.) INC. (xxix) ALLIED WORLD INSURANCE COMPANY (xxx) AW UNDERWRITERS INC. (xxxi) ALLIED WORLD SPECIALTY INSURANCE COMPANY
(b)	(i) 95 Wellington Street West, Suite 800, Toronto, Ontario, Canada M5J 2N7 (ii) 95 Wellington Street West, Suite 800, Toronto, Ontario, Canada M5J 2N7 (iii) 95 Wellington Street West, Suite 802, Toronto, Ontario, Canada M5J 2N7 (iv) 1600 Cathedral Place, 925 West Georgia St., Vancouver, British Columbia, Canada V6C 3L2 (v) 95 Wellington Street West, Suite 800, Toronto, Ontario, Canada M5J 2N7 (vi) 95 Wellington Street West, Suite 800, Toronto, Ontario, Canada M5J 2N7 (vii) #12 Pine Commercial Centre, The Pine, St. Michael, BB11103, Barbados (viii) #12 Pine Commercial Centre, The Pine, St. Michael, BB11103, Barbados (ix) 401 East Corporate Drive, Suite 200, Lewisville, Texas, 75057, USA (x) 300 First Stamford Place, Stamford, Connecticut, USA 06902 (xi) 300 First Stamford Place, Stamford, Connecticut, USA 06902 (xii) Corporation Trust Company, 1209 Orange Street, Corporate Trust Center, Wilmington, County of New Castle, Delaware, 19801, USA (xiii) Corporation Trust Company, 1209 Orange Street, Corporate Trust Center, Wilmington, County of New Castle, Delaware, 19801, USA (xiv) 21255 Califa Street, Woodland Hills, California, 91367-5021, USA (xv) 21255 Califa Street, Woodland Hills, California, 91367-5021, USA (xvi) Corporation Trust Company, 1209 Orange Street, Corporate Trust Center, Wilmington, County of New Castle, Delaware, 19801, USA (xvii) Corporation Trust Company, 1209 Orange Street, Corporate Trust Center, Wilmington, County of New Castle, Delaware, 19801, USA (xviii) 305 Madison Avenue, Morristown, New Jersey, USA, 07962 (xix) The Leadenhall Building, 122 Leadenhall Street, London, United Kingdom, EC3V 4AB (xx) The Leadenhall Building, 122 Leadenhall Street, London, United Kingdom, EC3V 4AB (xxi) The Leadenhall Building, 122 Leadenhall Street, London, United Kingdom, EC3V 4AB (xxii) Clarendon House, 2 Church Street, Hamilton, Bermuda HM 11 (xxiii) 1600 - 925 West Georgia Street, Vancouver, British Columbia, V6C 3L2, Canada (xxiv) 27 Richmond Road, Pembroke, Bermuda HM 08 (xxv) 27 Richmond Road, Pembroke, Bermuda HM 08 (xxvi) 27 Richmond Road, Pembroke, Bermuda HM 08 (xxvii) 27 Richmond Road, Pembroke, Bermuda HM 08 (xxviii) Corporation Trust Company, 1209 Orange Street, Corporate Trust Center, Wilmington, County of New Castle, Delaware, 19801, USA (xxix) 10 Ferry Street, Suite 313, Concord, New Hampshire, 03301, USA (xxx) Corporation Service Company, 251 Little Falls Drive, Wilmington, Delaware, 19808, USA (xxxi) Corporation Service Company, 251 Little Falls Drive, Wilmington, Delaware, 19808, USA
(c)	For each of the Reporting Persons, a full response to Item 2(c) Present principal occupation or employment and the name, principal business and address of any corporation or other organization in which such employment is conducted is set forth in Exhibit 99.4 hereto.
(d)	(i) No (ii) No (iii) No (iv) No (v) No (vi) No (vii) No (viii) No (ix) No (x) No (xi) No (xii) No (xiii) No (xiv) No (xv) No (xvi) No (xvii) No (xviii) No (xix) No (xx) No (xxi) No (xxii) No (xxiii) No (xxiv) No (xxv) No (xxvi) No (xxvii) No (xxviii) No (xxix) No (xxx) No (xxxi) No
(e)	(i) No (ii) No (iii) No (iv) No (v) No (vi) No (vii) No (viii) No (ix) No (x) No (xi) No (xii) No (xiii) No (xiv) No (xv) No (xvi) No (xvii) No (xviii) No (xix) No (xx) No (xxi) No (xxii) No (xxiii) No (xxiv) No (xxv) No (xxvi) No (xxvii) No (xxviii) No (xxix) No (xxx) No (xxxi) No
(f)	(i) CANADA (ii) CANADA (iii) CANADA (iv) BRITISH COLUMBIA (v) CANADA (vi) CANADA (vii) BARBADOS (viii) BARBADOS (ix) DELAWARE (x) DELAWARE (xi) CONNECTICUT (xii) DELAWARE (xiii) DELAWARE (xiv) DELAWARE (xv) CALIFORNIA (xvi) DELAWARE (xvii) DELAWARE (xviii) NEW JERSEY (xix) UNITED KINGDOM (xx) UNITED KINGDOM (xxi) UNITED KINGDOM (xxii) BERMUDA (xxiii) BRITISH COLUMBIA (xxiv) BERMUDA (xxv) BERMUDA (xxvi) BERMUDA (xxvii) BERMUDA (xxviii) DELAWARE (xxix) NEW HAMPSHIRE (xxx) DELAWARE (xxxi) DELAWARE
Item 5.	Interest in Securities of the Issuer
(a)	Based on the most recent information available, the aggregate number and percentage of Shares (the securities identified by Item 1 of this Schedule 13D) that are beneficially owned by each of the Reporting Persons is set forth in boxes 11 and 13 of this Schedule 13D for each of the Reporting Persons, and such information is incorporated herein by reference. The percentage of Class A Shares beneficially owned by each of the Reporting Persons was calculated based on 188,834,386 Class A Shares outstanding as of January 31, 2026, as reported by Under Armour, Inc.
(b)	The numbers of Class A Shares as to which each of the Reporting Persons has sole voting power, shared voting power, sole dispositive power and shared dispositive power is set forth in boxes 7, 8, 9 and 10, respectively, on the second part of the cover page to this Schedule 13D for each of the Reporting Persons, and such information is incorporated herein by reference. To the best knowledge of the Reporting Persons, the persons listed in Exhibit 99.5 hereto beneficially own the amounts of Class A Shares listed therein and have sole voting power and sole dispositive power with respect to such Class A Shares.
(c)	Except as described in Exhibit 99.6, to the best knowledge of the Reporting Persons, none of the persons listed in Exhibit 99.4 hereto beneficially owns, or has acquired or disposed of, any Class A Shares during the last 60 days.
(d)	No person is known to have the right to receive or the power to direct the receipt of dividends from, or the proceeds from the sale of Class A Shares held by the Reporting Persons other than each of the Reporting Persons.
(e)	Not applicable.
Item 7.	Material to be Filed as Exhibits.
	Exhibit 99.4 Directors and Executive Officers of the Reporting Persons Exhibit 99.5 Beneficial Ownership by Directors and Executive Officers of the Reporting Persons Exhibit 99.6 Transactions in the Class A Shares of the Issuer by the Reporting Persons During the Last Sixty (60) Days Exhibit 99.7 Joint Filing Agreement dated as of May 15, 2026 among the Reporting Persons

SIGNATURE

After reasonable inquiry and to the best of my knowledge and belief, I certify that the information set forth in this statement is true, complete and correct.

V. PREM WATSA

Signature:	/s/ V. Prem Watsa
Name/Title:	V. Prem Watsa
Date:	05/15/2026

THE SECOND 810 HOLDCO LTD.

Signature:	/s/ V. Prem Watsa
Name/Title:	V. Prem Watsa, Director
Date:	05/15/2026

THE SECOND 1109 HOLDCO LTD.

Signature:	/s/ V. Prem Watsa
Name/Title:	V. Prem Watsa, President
Date:	05/15/2026

THE SIXTY TWO INVESTMENT COMPANY LIMITED

Signature:	/s/ V. Prem Watsa
Name/Title:	V. Prem Watsa, President
Date:	05/15/2026

FAIRFAX FINANCIAL HOLDINGS LIMITED

Signature:	/s/ Peter Clarke
Name/Title:	Peter Clarke, President and Chief Operating Officer
Date:	05/15/2026

FFHL GROUP LTD.

Signature:	/s/ V. Prem Watsa
Name/Title:	V. Prem Watsa, President
Date:	05/15/2026

FAIRFAX (BARBADOS) INTERNATIONAL CORP.

Signature:	/s/ Peter Clarke
Name/Title:	Peter Clarke, Attorney-In-Fact
Date:	05/15/2026

WENTWORTH INSURANCE COMPANY LTD.

Signature:	/s/ Peter Clarke
Name/Title:	Peter Clarke, Attorney-In-Fact
Date:	05/15/2026

FAIRFAX (US) INC.

Signature:	/s/ Peter Clarke
Name/Title:	Peter Clarke, Attorney-In-Fact
Date:	05/15/2026

ODYSSEY GROUP HOLDINGS, INC.

Signature:	/s/ Peter Clarke
Name/Title:	Peter Clarke, Attorney-In-Fact
Date:	05/15/2026

ODYSSEY REINSURANCE COMPANY

Signature:	/s/ Peter Clarke
Name/Title:	Peter Clarke, Attorney-In-Fact
Date:	05/15/2026

HUDSON INSURANCE COMPANY

Signature:	/s/ Peter Clarke
Name/Title:	Peter Clarke, Attorney-In-Fact
Date:	05/15/2026

HUDSON EXCESS INSURANCE COMPANY

Signature:	/s/ Peter Clarke
Name/Title:	Peter Clarke, Attorney-In-Fact
Date:	05/15/2026

ZENITH NATIONAL INSURANCE CORP.

Signature:	/s/ Peter Clarke
Name/Title:	Peter Clarke, Attorney-In-Fact
Date:	05/15/2026

ZENITH INSURANCE COMPANY

Signature:	/s/ Peter Clarke
Name/Title:	Peter Clarke, Attorney-In-Fact
Date:	05/15/2026

CRUM & FORSTER HOLDINGS CORP.

Signature:	/s/ Peter Clarke
Name/Title:	Peter Clarke, Attorney-In-Fact
Date:	05/15/2026

UNITED STATES FIRE INSURANCE COMPANY

Signature:	/s/ Peter Clarke
Name/Title:	Peter Clarke, Attorney-In-Fact
Date:	05/15/2026

THE NORTH RIVER INSURANCE COMPANY

Signature:	/s/ Peter Clarke
Name/Title:	Peter Clarke, Attorney-In-Fact
Date:	05/15/2026

FAIRFAX UK HOLDINGS LIMITED

Signature:	/s/ Gavin Wilkinson
Name/Title:	Gavin Wilkinson, Group Chief Financial Officer
Date:	05/15/2026

BRIT GROUP HOLDINGS LIMITED

Signature:	/s/ Gavin Wilkinson
Name/Title:	Gavin Wilkinson, Group Chief Financial Officer
Date:	05/15/2026

BRIT INSURANCE HOLDINGS LIMITED

Signature:	/s/ Gavin Wilkinson
Name/Title:	Gavin Wilkinson, Group Chief Financial Officer
Date:	05/15/2026

BRIT REINSURANCE (BERMUDA) LIMITED

Signature:	/s/ Gavin Wilkinson
Name/Title:	Gavin Wilkinson, Group Chief Financial Officer
Date:	05/15/2026

1102952 B.C. UNLIMITED LIABILITY COMPANY

Signature:	/s/ Peter Clarke
Name/Title:	Peter Clarke, Attorney-In-Fact
Date:	05/15/2026

ALLIED WORLD ASSURANCE COMPANY HOLDINGS, LTD

Signature:	/s/ Peter Clarke
Name/Title:	Peter Clarke, Attorney-In-Fact
Date:	05/15/2026

ALLIED WORLD ASSURANCE COMPANY HOLDINGS I, LTD

Signature:	/s/ Peter Clarke
Name/Title:	Peter Clarke, Attorney-In-Fact
Date:	05/15/2026

ALLIED WORLD ASSURANCE COMPANY, LTD

Signature:	/s/ Peter Clarke
Name/Title:	Peter Clarke, Attorney-In-Fact
Date:	05/15/2026

ALLIED WORLD ASSURANCE HOLDINGS (IRELAND) LTD

Signature:	/s/ Peter Clarke
Name/Title:	Peter Clarke, Attorney-In-Fact
Date:	05/15/2026

ALLIED WORLD ASSURANCE HOLDINGS (U.S.) INC.

Signature:	/s/ Peter Clarke
Name/Title:	Peter Clarke, Attorney-In-Fact
Date:	05/15/2026

ALLIED WORLD INSURANCE COMPANY

Signature:	/s/ Peter Clarke
Name/Title:	Peter Clarke, Attorney-In-Fact
Date:	05/15/2026

AW UNDERWRITERS INC.

Signature:	/s/ Peter Clarke
Name/Title:	Peter Clarke, Attorney-In-Fact
Date:	05/15/2026

ALLIED WORLD SPECIALTY INSURANCE COMPANY

Signature:	/s/ Peter Clarke
Name/Title:	Peter Clarke, Attorney-In-Fact
Date:	05/15/2026

Comments accompanying signature:

Power of attorney, dated March 9, 2020 (incorporated by reference to Exhibit 8 to the Schedule 13D filed by certain of the Reporting Persons with the SEC on March 9, 2020). Power of attorney, dated June 14, 2021 (incorporated by reference to Exhibit 5 to the Schedule 13D filed by certain of the Reporting Persons with the SEC on June 14, 2021).

FAQ

What stake in Under Armour (UA) does Fairfax report in this Schedule 13D/A?

Fairfax and its affiliates report beneficial ownership of 45,300,872 Under Armour Class A Shares, representing 24.0% of the class. This percentage is based on 188,834,386 Class A Shares outstanding as of January 31, 2026, as reported by Under Armour.

How is Fairfax’s percentage ownership of Under Armour (UA) Class A Shares calculated?

The 24.0% beneficial ownership is calculated using 188,834,386 Under Armour Class A Shares outstanding as of January 31, 2026. Fairfax and its affiliates collectively report holding 45,300,872 shares, and this amendment specifies that calculation method explicitly in Item 5(a).

Which entities are included as reporting persons in Fairfax’s Under Armour (UA) filing?

The amendment lists 31 reporting persons, including V. Prem Watsa, Fairfax Financial Holdings Limited, FFHL Group Ltd., Odyssey Reinsurance Company, Crum & Forster Holdings Corp., Allied World Assurance entities, Brit entities, and several Fairfax insurance subsidiaries based in Canada, the U.S., Bermuda and the U.K.

What voting and dispositive powers does Fairfax report over Under Armour (UA) shares?

For each reporting person, the filing shows zero sole voting and sole dispositive power, and shared voting and shared dispositive power over the reported shares. For example, several entities report shared voting and dispositive power over 45,300,872 Class A Shares in the cover page tables.

How many Under Armour (UA) shares do key Fairfax subsidiaries beneficially own?

Several Fairfax subsidiaries report sizable holdings, such as FFHL Group Ltd. with 34,077,356 shares (18.0%), Fairfax (US) Inc. with 31,098,326 shares (16.5%), Crum & Forster Holdings Corp. with 19,742,322 shares (10.5%), and The North River Insurance Company with 4,862,016 shares (2.6%).

Does anyone besides Fairfax’s reporting group have rights to Under Armour (UA) dividends or sale proceeds?

The amendment states that no person is known to have the right to receive, or to direct the receipt of, dividends or sale proceeds from the Under Armour Class A Shares held by the reporting persons, other than each of the reporting persons themselves.

What additional information is contained in the exhibits to Fairfax’s Under Armour (UA) Schedule 13D/A?

Exhibits include lists of directors and executive officers of the reporting persons, their individual beneficial ownership of Under Armour Class A Shares, recent transactions in the shares during the last 60 days, and a joint filing agreement dated May 15, 2026 among the reporting persons.