Fairfax India (FIHU) investor relations material

Executive summary

• Book value per share was $20.74 at June 30, 2026, down 9.6% from $22.94 at year-end 2025, mainly due to $153.2M in unrealized FX losses and a net loss of $142.9M attributable to shareholders in H1 2026.

• Net loss for H1 2026 was $131.3M, compared to net earnings of $67.1M in H1 2025, driven by realized losses on Sanmar sale and FX losses.

• Net earnings for Q2 2026 were $227.9M ($1.70 per diluted share), down from $278.1M ($2.06 per diluted share) in Q2 2025, driven primarily by unrealized gains on public common stocks.

• Total assets decreased to $3.76B from $4.05B at year-end 2025, reflecting investment sales and FX impacts.

Financial highlights

• Net change in unrealized gains on investments was $49.3M in H1 2026, down from $108.0M in H1 2025.

• Realized losses on investments totaled $127.8M, mainly from the Sanmar sale.

• Dividend income rose to $19.4M in H1 2026, up from $3.3M in H1 2025, with significant contributions from BIAL, Jaynix, IIFL Finance, and IIFL Capital.

• Interest and dividend income reached $14.2M in Q2 2026, mainly from BIAL and Jaynix.

• Total expenses increased to $39.9M, mainly due to higher general/admin costs related to the IIFL Capital transaction.

Outlook and guidance

• Management expects continued volatility due to global conflicts, FX fluctuations, and evolving tariff policies.

• Management expects continued quarter-to-quarter fluctuations in earnings, with a long-term positive outlook for common stock positions.

• The company remains focused on long-term capital appreciation in Indian public and private investments.

• Additional IIFL Capital Investment is expected to close in stages from Q4 2026, subject to regulatory approvals.