Financial Results for the Second Quarter of 2026

NOT FOR DISTRIBUTION TO U.S. NEWSWIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES

TORONTO, Aug. 11, 2026 (GLOBE NEWSWIRE) -- Helios Fairfax Partners Corporation (TSX: HFPC.U) today announced its financial results for the three and six months ended June 30, 2026. All dollar amounts in this news release are expressed in U.S. dollars except as otherwise noted.

Management Commentary
“We are pleased to present another strong set of results for second quarter 2026, delivering $25 million of EBITDA and $19 million of net profit in the quarter, driven by impressive investment income of $29 million and $6 million of management fees from our alternative asset management business,” said Tope Lawani and Babatunde Soyoye, Co-CEOs of Helios Fairfax Partners.

“During the quarter we generated liquidity of $47 million as we exited our Seven Rivers fund. We anticipate that the listing of T2S Group Holding subsequent to the end of the quarter will deliver further liquidity to HFP in the coming quarter.”

“On a year to date basis we have delivered $36 million of EBITDA, and net profit for the year to date is over $12 million ahead of the equivalent period in 2025 at $25 million. Our results have generated net profit per share of $0.23 and book value per share growth of $0.22 for our shareholders through the first six months of the year.”

(US$ million except per share)		First six months								Second quarter
			2026				2025				2026				2025
Investment income			42.3				25.6				29.2				17.1
Management fees			11.9				—				6.0				—
Total income			57.1				25.6				35.3				17.1
EBITDA			36.1				14.7				25.1				12.3
Net profit			24.9				12.4				18.6				11.6
Net profit per share		$	0.23			$	0.11			$	0.17			$	0.11
Portfolio Investments			418.4				419.5				418.4				419.5
Total assets			577.8				447.7				577.8				447.7
Common shareholders’ equity			481.9				428.6				481.9				428.6
Book value per share		$	4.44			$	3.96			$	4.44			$	3.96

Second Quarter 2026 Highlights

• Book value per share up 4% to $4.44 for Q2 2026 from $4.27 for Q1 2026, HFP’s sixth consecutive quarter of book value per share growth.
• Net profit of $18.6 million for Q2 2026, compared to $11.6 million for Q2 2025, equating to net profit per share of $0.17 for Q2 2026 and $0.11 for Q2 2025.
• Investment income of $29.2 million for Q2 2026, compared to $17.1 million for Q2 2025. The main drivers of the $29.2 million investment income for Q2 2026 were fair value gains on Trone, Helios Fund IV and HDV.
• The value of portfolio investments was $418.4 million at Q2 2026. The movement from Q1 2026 was driven by the redemption of Seven Rivers for $46.5 million, offset by fair value gains of $28.6 million.
• HFP delivered management fees of $6.0 million through its alternative asset management business in the quarter.
  
  

YTD 2026 Highlights

• Book value per share up 5% to $4.44 for Q2 2026 from $4.22 for Q4 2025.
• EBITDA of $36.1 million for the first six months of 2026, compared to $14.7 million for the first six months of 2025. Net profit of $24.9 million for the first six months of 2026, compared to $12.4 million for the first six months of 2025.
• Investment income of $42.3 million for the first six months of 2026, compared to $25.6 million for the first six months of 2025. The main drivers of the $42.3 million investment income for the first six months of 2026 were fair value and realized gains on Trone, Helios Fund IV, Seven Rivers, and HDV.
• HFP started to consolidate Helios’ asset management business from January 1, 2026. HFP’s MD&A and financial statements contain explanatory disclosures regarding the comparability of prior year financial information.
  
  

Subsequent events to June 30, 2026

• Trone's operating subsidiary T2S Group Holding listed on the Casablanca stock exchange. HFP's proportionate share of the cash proceeds from the IPO is $18 million.
• HFP approved organizational changes to consolidate operational activities, including the relocation of its support functions from Toronto, Canada to London, U.K. These changes are intended to align operations more closely with the Company's current leadership team, strengthen collaboration with its Manager, Helios Investment Partners LLP, which is based in London, and improve overall operational efficiency. HFP’s registered office and stock exchange listing will remain in Toronto, Canada.
  
  

About Helios Fairfax Partners Corporation
Helios Fairfax Partners Corporation is an investment holding company that is listed on the Toronto Stock Exchange under the symbol HFPC.U. The company invests in African businesses and other businesses with customers, suppliers or operations primarily conducted in, or dependent on, Africa. It is advised by Helios Investment Partners LLP which is authorized and regulated by the Financial Conduct Authority in the United Kingdom. As at June 30, 2026, HFP had Portfolio Investments totaling $418.4 million.

Contact Information
investorrelations@heliosfairfax.com
www.heliosfairfax.com

This press release may contain forward-looking statements within the meaning of applicable securities legislation. Forward-looking statements may relate to the company’s or a Portfolio Investment’s future outlook and anticipated events or results and may include statements regarding the financial position, business strategy, growth strategy, budgets, operations, financial results, taxes, dividends, plans and objectives of the company. Particularly, statements regarding future results, performance, achievements, prospects or opportunities of the company, a Portfolio Investment, or the African market are forward-looking statements. In some cases, forward-looking statements can be identified by the use of forward-looking terminology such as “plans”, “expects” or “does not expect”, “is expected”, “budget”, “scheduled”, “estimates”, “forecasts”, “intends”, “anticipates” or “does not anticipate” or “believes”, or variations of such words and phrases or state that certain actions, events or results “may”, “could”, “would”, “might”, “will” or “will be taken”, “occur” or “be achieved”. Some of the specific forward-looking statements in this press release include, but are not limited to, statements with respect to: the value generating potential of HFP’s investments in a diversified set of strategies; the increased credit facility supporting further investments that would complement the portfolio; the long-term appreciation potential of the portfolio and the company’s positioning to deliver meaningful value to shareholders; and the offer to acquire the outstanding shares of CAB Payments Holdings plc.

Forward-looking statements are based on a number of key expectations and assumptions made by the company including, without limitation, that: HFP’s investments and positioning will generate the value expected; the increased credit facility will be used to support further complementary investments; and the offer to acquire the outstanding shares of CAB Payments Holdings plc will be completed on the terms currently contemplated.

Forward-looking statements are based on our opinions and estimates as of the date of this press release and they are subject to known and unknown risks and uncertainties that may cause the actual results, level of activity, performance or achievements to be materially different from those expressed or implied by such forward-looking statements, including but not limited to the following factors: geopolitical risks, inflation, and interest rates; tariffs; financial market fluctuations; reliance on key personnel and risks associated with the Investment Advisory Agreement; concentration risk in Portfolio Investments, including geographic concentration and with respect to Class A and Class B limited partnership interests in the Portfolio Advisor; operating and financial risks of Portfolio Investments; valuation methodologies involve subjective judgments; investments may be made in foreign private businesses where information is unreliable or unavailable; use of leverage; lawsuits; cybersecurity and technology; reliance on third parties; significant ownership by Fairfax Financial Holdings Limited (“Fairfax”) and HFP Investments Holdings SARL (“Principal Holdco”) may adversely affect the market price of the subordinate voting shares; taxation risks; emerging markets; and climate change, natural disaster, and weather risks. Additional risks and uncertainties are described in the company’s 2025 annual report and annual information form, both dated March 27, 2026, which are available on SEDAR+ at www.sedarplus.ca and our website at www.heliosfairfax.com. These factors and assumptions are not intended to represent a complete list of the factors and assumptions that could affect the company. These factors and assumptions, however, should be considered carefully.

Although the company has attempted to identify important factors that could cause actual results to differ materially from those contained in forward-looking statements, there may be other factors that cause results not to be as anticipated, estimated or intended. There can be no assurance that such statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward-looking statements. The company does not undertake to update any forward-looking statements contained herein, except as required by applicable securities laws.

Information on
CONSOLIDATED BALANCE SHEETS
as at June 30, 2026 and December 31, 2025
(US$ thousands)

		(Unaudited)
		June 30, 2026			December 31, 2025(1)
Assets
Cash and cash equivalents		36,680			10,760
Portfolio Investments		418,429			463,746
Total cash and investments		455,109			474,506
Receivables from related parties		3,720			1,334
Income taxes refundable		—			814
Other assets		6,208			3,830
Property and equipment		4,294			902
Intangible assets		48,235			—
Goodwill		60,184			—
Total assets		577,750			481,386
Liabilities
Accounts payable and accrued liabilities		23,366			2,085
Income taxes payable		1,749			—
Payable to related parties		8,289			1,593
Amounts payable to other limited partners		21,982			—
Borrowings		26,646			10,000
Lease liabilities		4,617			455
Deferred income taxes		9,200			10,352
Total liabilities		95,849			24,485
Equity
Common shareholders’ equity		481,901			456,901
Total liabilities and equity		577,750			481,386
Book value per share		4.44			4.22

(1) Period over period comparability may be limited. Refer to notes 5 (Business Combination) and 24 (Reclassification of Comparative Amounts) to the consolidated statements for the three and six months ended June 30, 2026.

Information on
CONSOLIDATED STATEMENTS OF EARNINGS AND COMPREHENSIVE EARNINGS
for the second quarter and six months ended June 30, 2026 and 2025
(US$ thousands except per share)

		(Unaudited)								(Unaudited)
		First six months								Second quarter
			2026				2025				2026			2025(1)
Income
Investment income			42,297				25,583				29,241				17,134
Management fees			11,896				—				5,994				—
Other income			2,924				—				42				—
			57,117				25,583				35,277				17,134
Expenses
Investment and advisory fees			—				(2,253	)			—				(1,184	)
General and administration expenses			(20,990	)			(5,776	)			(10,165	)			(3,187	)
Other expenses			—				(2,826	)			—				(512	)
EBITDA			36,127				14,728				25,112				12,251
Depreciation			(784	)			(74	)			(398	)			(37	)
Amortization			(3,878	)			—				(1,815	)			—
Operating profit			31,465				14,654				22,899				12,214
Finance costs			(5,041	)			(881	)			(4,679	)			(422	)
Profit before income taxes			26,424				13,773				18,220				11,792
Recovery of (provision for) income taxes			(1,511	)			(1,330	)			411				(213	)
Profit after income taxes			24,913				12,443				18,631				11,579
Net profit per share		$	0.23			$	0.11			$	0.17			$	0.11
Net profit per diluted share		$	0.23			$	0.11			$	0.17			$	0.11
Shares outstanding (weighted average)			108,316,408				108,264,241				108,449,709				108,237,205
Other comprehensive income
Exchange differences on translation of foreign operations			(57	)			—				(17	)			—
Other comprehensive income			(57	)			—				(17	)			—
Total comprehensive income			24,856				12,443				18,614				11,579

(1) Period over period comparability may be limited. Refer to notes 5 (Business Combination) and 24 (Reclassification of Comparative Amounts) to the consolidated statements for the three and six months ended June 30, 2026.

USAGE OF IFRS AND OTHER NON-GAAP FINANCIAL MEASURES

The financial results are derived from the interim consolidated financial statements prepared in accordance with International Financial Reporting Standards as issued by the International Accounting Standards Board (“IFRS Accounting Standards”) applicable to the preparation of interim financial statements, including International Accounting Standard 34 Interim Financial Reporting, except as otherwise noted.

Management analyzes and assesses the financial position of the company in various ways including using non-GAAP measures that do not have a prescribed meaning under IFRS Accounting Standards and may not be comparable to similar measures presented by other companies. The measure included in this news release, which has been used consistently and disclosed regularly in the company's Annual Reports and interim financial reporting, is described below.

Book value per share – The company considers book value per share a key performance measure in evaluating its objective of long-term capital appreciation, while preserving capital. Book value per share is a key performance measure of the company and is closely monitored. This measure is calculated by the company as common shareholders’ equity divided by the number of common shares outstanding.

Earnings before interest, taxes, depreciation, and amortization (“EBITDA”) – This measure is equal to operating profit before deducting depreciation and amortization.

		Second quarter						First six months
		2026			2025			2026			2025
Operating profit		22,899			12,214			31,465			14,654
Add back: Depreciation		398			37			784			74
Add back: Amortization		1,815			—			3,878			—
EBITDA		25,112			12,251			36,127			14,728