Financial Results for the First Quarter of 2026

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TORONTO, May 06, 2026 (GLOBE NEWSWIRE) -- Helios Fairfax Partners Corporation (TSX: HFPC.U) today announced its financial results for the first quarter and three months ended March 31, 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 a strong set of first quarter 2026 results, headlined by $6 million of net profit and our fifth consecutive quarter of book value per share growth” said Tope Lawani and Babatunde Soyoye, Co‑CEOs of Helios Fairfax Partners.

“This quarter represents our first with Helios’s asset management business consolidated into HFP’s financial statements. We delivered $13 million of investment income in the quarter despite turbulent macroeconomic headwinds and $6 million of management fees from our asset management business. Our results generated net profit per share of $0.06 and book value per share growth of $0.05 for our shareholders.”

“During the quarter Helios Sports & Entertainment Group held its first close in its Series B fundraise and HFP settled its loan facility with Helios Digital Ventures in exchange for an equity position to further benefit from future upside in the strategy. We are pleased to have laid the foundations for a positive year for our shareholders.”

(US$ million except per share)	First quarter
	2026		2025

Investment income		13.1		8.4
Management fees		5.9		—
Total income		21.8		8.4
EBITDA		11.0		2.5
Net profit		6.3		0.9
Net profit per share	$	0.06	$	0.01

Portfolio Investments		429.8		463.7
Total assets		570.6		481.4
Common shareholders’ equity		463.2		456.9
Book value per share	$	4.27	$	4.22

First Quarter 2026 Highlights

Book value per share up 1% to $4.27 for Q1 2026 from $4.22 for Q4 2025, HFP’s fifth consecutive quarter of book value per share growth.
Net profit of $6.3 million for Q1 2026, compared to $0.9 million for Q1 2025, equating to earnings per share of $0.06 for Q1 2026 and $0.01 for Q1 2025.
Investment income of $13.1 million for Q1 2026, compared to $8.4 million for Q1 2025. The main drivers of the $13.1 million investment income for Q1 2026 were fair value gains on Seven Rivers and Trone.
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.
The value of portfolio investments was $429.8 million at Q1 2026. The movement from Q4 2025 was driven by fair value gains of $13.1 million, net capital deployment of $2.7 million and a net reduction of $49.6 million driven by the business combination.
HFP delivered management fees of $5.9 million and other income of $2.9 million related to consulting fees through its asset management business in the quarter.
HFP’s investment HSEG completed its first Series B close in January 2026. Upon completion, HFP subscribed for $2.5 million of Series B shares and converted its ordinary shares into Series A shares.
HFP increased its borrowing facilities limit to $85 million with an option to increase by a further $15 million.
HFP, as part of a Helios consortium, announced an offer to acquire the outstanding shares of CAB Payments Holdings plc. The maximum amount payable by HFP under the offer is approximately $75 million. In addition, as Helios Fund V is participating in the cash offer, there will be a related capital call to be funded by the company for Helios Fund V if the offer is successful.

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 March 31, 2026, HFP had Portfolio Investments totaling $429.8 million.

Contact Information

Neil Weber
LodeRock Advisors
neil.weber@loderockadvisors.com
(647) 222-0574

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 March 31, 2026 and December 31, 2025
(US$ thousands)

	*(Unaudited)*
	March 31, 2026	December 31, 2025⁽¹⁾

Assets
Cash and cash equivalents	14,988	10,760
Portfolio Investments	429,752	463,746
Total cash and investments	444,740	474,506

Receivables from related parties	4,177	1,334
Income taxes refundable	—	814
Other assets	6,747	3,830
Property and equipment	4,688	902
Goodwill	60,184	—
Intangible assets	50,050	—
Total assets	570,586	481,386

Liabilities
Accounts payable and accrued liabilities	22,041	2,085
Payable to related parties	8,181	1,593
Income taxes payable	948	—
Contract liabilities	4,124	—
Lease liabilities	4,542	455
Borrowings	33,348	10,000
Amounts payable to other limited partners	23,720	—
Deferred income taxes	10,459	10,352
Total liabilities	107,363	24,485

Equity
Common shareholders’ equity	463,223	456,901
Total liabilities and equity	570,586	481,386


Book value per share	4.27	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 months ended March 31, 2026.

Information on
CONSOLIDATED STATEMENTS OF EARNINGS AND COMPREHENSIVE EARNINGS
for the three months ended March 31, 2026 and 2025
(US$ thousands except per share)

	*(Unaudited)*
	First quarter
	2026			2025⁽¹⁾
Income
Investment income		13,056			8,449
Management fees		5,902			—
Other income		2,882			—
		21,840			8,449
Expenses
Investment and advisory fees		—			(1,069	)
General and administration expenses		(10,825	)		(2,589	)
Other expenses		—			(2,314	)
EBITDA		11,015			2,477

Depreciation		(386	)		(37	)
Amortization		(2,063	)		—
Operating profit		8,566			2,440
Finance costs		(362	)		(459	)
Profit before income taxes		8,204			1,981
Provision for income taxes		(1,922	)		(1,117	)
Profit after income taxes		6,282			864

Net profit per share	$	0.06		$	0.01
Net profit per diluted share	$	0.06		$	0.01
Shares outstanding (weighted average)		108,181,626			108,179,127

Other comprehensive income
Exchange differences on translation of foreign operations		(40	)		—
Other comprehensive income		(40	)		—

Total comprehensive income		6,242			864

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.

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