BLACKBERRY Ltd — Director's Dealing 2020

Mar 3, 2020

SEC Form 3 — Initial Statement of Beneficial Ownership

Issuer: BLACKBERRY Ltd (BB)
CIK: 0001070235
Period of Report: 2020-03-01

Reporting Person: WATSA V PREM ET AL (Director, 10% Owner)
Reporting Person: FAIRFAX FINANCIAL HOLDINGS LTD/ CAN (Director, 10% Owner)
Reporting Person: FFHL GROUP LTD (Director, 10% Owner)
Reporting Person: SECOND 1109 HOLDCO LTD. (Director, 10% Owner)
Reporting Person: SIXTY TWO INVESTMENT CO LTD (Director, 10% Owner)

Holdings (Non-Derivative)

Security	Shares	Ownership
Common Shares	129000	Indirect
Common Shares	46724700	Indirect

Holdings (Derivative)

Security	Exercise Price	Expiration	Underlying	Shares	Ownership
3.75% Unsecured Convertible Debentures	$		Common Shares (50000000)		Indirect
Deferred Share Units	$0		Common Shares (147812)		Direct

Footnotes

F1: These securities are held by The Second 810 Holdco Ltd ("810 Holdco"). V. Prem Watsa is the controlling person of 810 Holdco. Mr. Watsa disclaims beneficial ownership of the securities reported herein for purposes of Rule 16a-1(a) under the Securities Exchange Act of 1934, as amended (the "Exchange Act"), except to the extent of his pecuniary interest therein, if any. This report shall not be deemed an admission that Mr. Watsa is a beneficial owner for the purpose of Section 16 of the Exchange Act, or for any other purpose.

F2: These securities are held by wholly-owned subsidiaries of Fairfax Financial Holdings Limited. Mr. Watsa is the CEO and controlling person of Fairfax Financial Holdings Limited through the other Reporting Persons. Each of the Reporting Persons disclaims beneficial ownership of the securities reported herein for purposes of Rule 16a-1(a) under the Exchange Act, except to the extent of its or his pecuniary interest therein, if any. This report shall not be deemed an admission that any of the Reporting Persons is a beneficial owner for the purpose of Section 16 of the Exchange Act, or for any other purpose.

F3: The 3.75% unsecured convertible debentures (the "3.75% Debentures") mature on November 13, 2020 and are not redeemable prior to maturity. Each $1,000 principal amount of the 3.75% Debentures are convertible at any time into 100 common shares of BlackBerry Limited ("BlackBerry"), subject to adjustments in accordance with the indenture governing the 3.75% Debentures.

F4: The Deferred Share Units ("DSUs") are held directly by Mr. Watsa and were received in connection with his service as a director of BlackBerry. Each DSU is the economic equivalent of one common share. The DSUs become payable, in cash or common shares or a combination of the two, at the discretion of BlackBerry following cessation of Mr. Watsa's service as a director of BlackBerry.