Orla Mining Ltd. — Major Shareholding Notification 2025

Dec 12, 2025

xml version="1.0" encoding="UTF-8"? SCHEDULE 13G Field: Pseudo-Tag; ID: Name; Data: FAIRFAX FINANCIAL HOLDINGS LTD/ CAN 0000915191 XXXXXXXX LIVE Common Shares 12/04/2025 0001680056 ORLA MINING LTD. 68634K106 1075 WEST GEORGIA STREET SUITE 1010 VANCOUVER A1 V6E 3C9 Rule 13d-1(c) V. PREM WATSA b Z4 0.00 75954445.00 0.00 75954445.00 75954445.00 N 19.8 IN This Schedule 13G is being filed in accordance with Rule 13d-1(h) of the Securities Exchange Act of 1934, as amended (the "Exchange Act"), to operate as an amendment to the amended Schedule 13D previously filed by the Reporting Persons with respect to the Common Shares of Orla Mining Ltd. This Schedule 13G corrects an administrative error that resulted in the beneficial ownership of certain Reporting Persons reported in the Schedule 13D/A filed on December 8, 2025 to be overstated by 2,119,838 Common Shares, or approximately 0.5%. The Reporting Persons now beneficially own less than 20 percent of the outstanding Common Shares. Accordingly, the Reporting Persons are filing this Schedule 13G to replace the prior Schedule 13D in its entirety. THE SECOND 810 HOLDCO LTD. b Z4 0.00 75954445.00 0.00 75954445.00 75954445.00 N 19.8 CO THE SECOND 1109 HOLDCO LTD. b Z4 0.00 75954445.00 0.00 75954445.00 75954445.00 N 19.8 CO THE SIXTY TWO INVESTMENT COMPANY LIMITED b A1 0.00 75954445.00 0.00 75954445.00 75954445.00 N 19.8 CO 12002574 CANADA INC. b Z4 0.00 75954445.00 0.00 75954445.00 75954445.00 N 19.8 CO FAIRFAX FINANCIAL HOLDINGS LIMITED b Z4 0.00 75954445.00 0.00 75954445.00 75954445.00 N 19.8 CO FFHL GROUP LTD. b Z4 0.00 25180711.00 0.00 25180711.00 25180711.00 N 6.6 CO FAIRFAX (US) INC. b DE 0.00 25180711.00 0.00 25180711.00 25180711.00 N 6.6 CO ODYSSEY GROUP HOLDINGS, INC. b DE 0.00 11353268.00 0.00 11353268.00 11353268.00 N 3.0 CO ODYSSEY REINSURANCE COMPANY b CT 0.00 11353268.00 0.00 11353268.00 11353268.00 N 3.0 CO CRUM & FORSTER HOLDINGS CORP. b DE 0.00 13827443.00 0.00 13827443.00 13827443.00 N 3.6 CO UNITED STATES FIRE INSURANCE COMPANY b DE 0.00 13827443.00 0.00 13827443.00 13827443.00 N 3.6 CO THE NORTH RIVER INSURANCE COMPANY b NJ 0.00 2942481.00 0.00 2942481.00 2942481.00 N 0.8 CO 1102952 B.C. UNLIMITED LIABILITY COMPANY b A1 0.00 50773734.00 0.00 50773734.00 50773734.00 N 13.2 CO ALLIED WORLD ASSURANCE COMPANY HOLDINGS, LTD b D0 0.00 50773734.00 0.00 50773734.00 50773734.00 N 13.2 CO ALLIED WORLD ASSURANCE COMPANY HOLDINGS I, LTD b D0 0.00 50773734.00 0.00 50773734.00 50773734.00 N 13.2 CO ALLIED WORLD ASSURANCE COMPANY, LTD b D0 0.00 50773734.00 0.00 50773734.00 50773734.00 N 13.2 CO ALLIED WORLD ASSURANCE HOLDINGS (IRELAND) LTD b D0 0.00 50773734.00 0.00 50773734.00 50773734.00 N 13.2 CO ALLIED WORLD ASSURANCE HOLDINGS (U.S.) INC. b D0 0.00 50773734.00 0.00 50773734.00 50773734.00 N 13.2 CO ALLIED WORLD INSURANCE COMPANY b NH 0.00 49357124.00 0.00 49357124.00 49357124.00 N 12.9 CO ALLIED WORLD ASSURANCE COMPANY (U.S.) INC. b DE 0.00 2125000.00 0.00 2125000.00 2125000.00 N 0.6 CO AW UNDERWRITERS INC. b DE 0.00 16086599.00 0.00 16086599.00 16086599.00 N 4.2 CO ALLIED WORLD SPECIALTY INSURANCE COMPANY b DE 0.00 16086599.00 0.00 16086599.00 16086599.00 N 4.2 CO ALLIED WORLD SURPLUS LINES INSURANCE COMPANY b AR 0.00 1880656.00 0.00 1880656.00 1880656.00 N 0.5 CO ALLIED WORLD NATIONAL ASSURANCE COMPANY b NH 0.00 1416610.00 0.00 1416610.00 1416610.00 N 0.4 CO ORLA MINING LTD. Suite 1010, 1075 West Georgia Street, VANCOUVER, BRITISH COLUMBIA, V6E 3C9 V. PREM WATSA THE SECOND 810 HOLDCO LTD. THE SECOND 1109 HOLDCO LTD. THE SIXTY TWO INVESTMENT COMPANY LIMITED 12002574 CANADA INC. FAIRFAX FINANCIAL HOLDINGS LIMITED FFHL GROUP LTD. FAIRFAX (US) INC. ODYSSEY GROUP HOLDINGS, INC. ODYSSEY REINSURANCE COMPANY CRUM & FORSTER HOLDINGS CORP. UNITED STATES FIRE INSURANCE COMPANY THE NORTH RIVER INSURANCE COMPANY 1102952 B.C. UNLIMITED LIABILITY COMPANY ALLIED WORLD ASSURANCE COMPANY HOLDINGS, LTD ALLIED WORLD ASSURANCE COMPANY HOLDINGS I, LTD ALLIED WORLD ASSURANCE COMPANY, LTD ALLIED WORLD ASSURANCE HOLDINGS (IRELAND) LTD ALLIED WORLD ASSURANCE HOLDINGS (U.S.) INC. ALLIED WORLD INSURANCE COMPANY ALLIED WORLD ASSURANCE COMPANY (U.S.) INC. AW UNDERWRITERS INC. ALLIED WORLD SPECIALTY INSURANCE COMPANY ALLIED WORLD SURPLUS LINES INSURANCE COMPANY ALLIED WORLD NATIONAL ASSURANCE COMPANY 95 Wellington Street West, Suite 800, Toronto, Ontario, Canada M5J 2N7 95 Wellington Street West, Suite 802, Toronto, Ontario, Canada M5J 2N7 95 Wellington Street West, Suite 802, Toronto, Ontario, Canada M5J 2N7 1600 Cathedral Place, 925 West Georgia St., Vancouver, British Columbia, Canada V6C 3L2 95 Wellington Street West, Suite 800, Toronto, Ontario, Canada M5J 2N7 95 Wellington Street West, Suite 800, Toronto, Ontario, Canada M5J 2N7 95 Wellington Street West, Suite 800, Toronto, Ontario, Canada M5J 2N7 401 East Corporate Drive, Suite 200, Lewisville, Texas, 75057, USA 300 First Stamford Place, Stamford, Connecticut, USA 06902 300 First Stamford Place, Stamford, Connecticut, USA 06902 1209 Orange Street, Wilmington, Delaware, USA 19801 1209 Orange Street, Wilmington, Delaware, USA 19801 305 Madison Avenue, Morristown, New Jersey, USA, 07962 1600 Cathedral Place, 925 West Georgia St., Vancouver, British Columbia, Canada V6C 3L2 27 Richmond Road, Pembroke, Bermuda HM 08 27 Richmond Road, Pembroke, Bermuda HM 08 27 Richmond Road, Pembroke, Bermuda HM 08 27 Richmond Road, Pembroke, Bermuda HM 08 199 Water Street, 26th Floor, New York, New York USA 10038 199 Water Street, 26th Floor, New York, New York USA 10038 199 Water Street, 26th Floor, New York, New York USA 10038 199 Water Street, 26th Floor, New York, New York USA 10038 199 Water Street, 26th Floor, New York, New York USA 10038 199 Water Street, 26th Floor, New York, New York USA 10038 10 Ferry Street, Suite 313, Concord, New Hampshire, USA 03301 CANADA CANADA CANADA BRITISH COLUMBIA CANADA CANADA CANADA DELAWARE DELAWARE CONNECTICUT DELAWARE DELAWARE NEW JERSEY BRITISH COLUMBIA BERMUDA BERMUDA BERMUDA BERMUDA DELAWARE NEW HAMPSHIRE DELAWARE DELAWARE DELAWARE ARKANSAS NEW HAMPSHIRE Y The aggregate number of Common Shares that are beneficially owned by each of the Reporting Persons are set forth in rows 9 and 11 of the second part of the cover page to this Schedule 13G, and such information is incorporated herein by reference. Neither the filing of this Schedule 13G nor the information contained herein shall be deemed to constitute an affirmation by any of the Reporting Persons that such person is the beneficial owner of the Common Shares referred to herein for purposes of Section 13(d) or 13(g) of the Exchange Act, or for any other purpose, and such beneficial ownership is expressly disclaimed. The percentage of Common Shares that are beneficially owned by each of the Reporting Persons are set forth in rows 9 and 11 of the second part of the cover page to this Schedule 13G, and such information is incorporated herein by reference. The percentage of Common Shares beneficially owned by each of the Reporting Persons was calculated based on 339,896,220 Common Shares issued and outstanding as of November 11, 2025, as reported by Orla Mining Ltd., and assuming the conversion or exercise, as applicable, of all of the convertible notes and the warrants held by the Reporting Persons into Common Shares. The number of Common Shares as to which each of the Reporting Persons has sole voting power is set forth in row 5 on the second part of the cover page to this Schedule 13G, and such information is incorporated herein by reference. The number of Common Shares as to which each of the Reporting Persons has shared voting power is set forth in row 6 on the second part of the cover page to this Schedule 13G, and such information is incorporated herein by reference. The number of Common Shares as to which each of the Reporting Persons has sole dispositive power is set forth in row 7 on the second part of the cover page to this Schedule 13G, and such information is incorporated herein by reference. The number of Common Shares as to which each of the Reporting Persons has shared dispositive power is set forth in row 8 on the second part of the cover page to this Schedule 13G, and such information is incorporated herein by reference. Y Y Y N See Exhibit No. 99.1 attached. Y N By signing below I certify that, to the best of my knowledge and belief, the securities referred to above were not acquired and are not held for the purpose of or with the effect of changing or influencing the control of the issuer of the securities and were not acquired and are not held in connection with or as a participant in any transaction having that purpose or effect, other than activities solely in connection with a nomination under ?? 240.14a-11. Exhibit 99.1 Members of filing group Exhibit 99.2 Joint Filing Agreement dated as of December 11, 2025 among the Reporting Persons. V. PREM WATSA /s/ V. Prem Watsa V. Prem Watsa 12/11/2025 THE SECOND 810 HOLDCO LTD. /s/ V. Prem Watsa V. Prem Watsa, Director 12/11/2025 THE SECOND 1109 HOLDCO LTD. /s/ V. Prem Watsa V. Prem Watsa, President 12/11/2025 THE SIXTY TWO INVESTMENT COMPANY LIMITED /s/ V. Prem Watsa V. Prem Watsa, President 12/11/2025 12002574 CANADA INC. /s/ V. Prem Watsa V. Prem Watsa, President 12/11/2025 FAIRFAX FINANCIAL HOLDINGS LIMITED /s/ Peter Clarke Peter Clarke, President and Chief Operating Officer 12/11/2025 FFHL GROUP LTD. /s/ V. Prem Watsa V. Prem Watsa, President 12/11/2025 FAIRFAX (US) INC. /s/ Peter Clarke Peter Clarke, Attorney-In-Fact 12/11/2025 ODYSSEY GROUP HOLDINGS, INC. /s/ Peter Clarke Peter Clarke, Attorney-In-Fact 12/11/2025 ODYSSEY REINSURANCE COMPANY /s/ Peter Clarke Peter Clarke, Attorney-In-Fact 12/11/2025 CRUM & FORSTER HOLDINGS CORP. /s/ Peter Clarke Peter Clarke, Attorney-In-Fact 12/11/2025 UNITED STATES FIRE INSURANCE COMPANY /s/ Peter Clarke Peter Clarke, Attorney-In-Fact 12/11/2025 THE NORTH RIVER INSURANCE COMPANY /s/ Peter Clarke Peter Clarke, Attorney-In-Fact 12/11/2025 1102952 B.C. UNLIMITED LIABILITY COMPANY /s/ Peter Clarke Peter Clarke, Attorney-In-Fact 12/11/2025 ALLIED WORLD ASSURANCE COMPANY HOLDINGS, LTD /s/ Peter Clarke Peter Clarke, Attorney-In-Fact 12/11/2025 ALLIED WORLD ASSURANCE COMPANY HOLDINGS I, LTD /s/ Peter Clarke Peter Clarke, Attorney-In-Fact 12/11/2025 ALLIED WORLD ASSURANCE COMPANY, LTD /s/ Peter Clarke Peter Clarke, Attorney-In-Fact 12/11/2025 ALLIED WORLD ASSURANCE HOLDINGS (IRELAND) LTD /s/ Peter Clarke Peter Clarke, Attorney-In-Fact 12/11/2025 ALLIED WORLD ASSURANCE HOLDINGS (U.S.) INC. /s/ Peter Clarke Peter Clarke, Attorney-In-Fact 12/11/2025 ALLIED WORLD INSURANCE COMPANY /s/ Peter Clarke Peter Clarke, Attorney-In-Fact 12/11/2025 ALLIED WORLD ASSURANCE COMPANY (U.S.) INC. /s/ Peter Clarke Peter Clarke, Attorney-In-Fact 12/11/2025 AW UNDERWRITERS INC. /s/ Peter Clarke Peter Clarke, Attorney-In-Fact 12/11/2025 ALLIED WORLD SPECIALTY INSURANCE COMPANY /s/ Peter Clarke Peter Clarke, Attorney-In-Fact 12/11/2025 ALLIED WORLD SURPLUS LINES INSURANCE COMPANY /s/ Peter Clarke Peter Clarke, Attorney-In-Fact 12/11/2025 ALLIED WORLD NATIONAL ASSURANCE COMPANY /s/ Peter Clarke Peter Clarke, Attorney-In-Fact 12/11/2025 1. 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). https://www.sec.gov/Archives/edgar/data/915191/000110465920030836/a20-11674_1ex8.htm 2 . 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) . https://www.sec.gov/Archives/edgar/data/915191/000110465921080891/tm2119584d1_ex5.htm