Fairfax India Holdings Corporation

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TORONTO, Jan. 28, 2025 (GLOBE NEWSWIRE) -- Fairfax India Holdings Corporation (“Fairfax India” or the “Company”) (TSX: FIH.U) is pleased to announce the voting results from its special meeting of shareholders held on January 28, 2025 (the “Special Meeting”) in connection with a proposed one-time deviation from the Company’s investment concentration restriction set forth in its by-laws (the “Investment Concentration Restriction”) in order to complete the previously announced acquisition of an additional 10% equity interest in Bangalore International Airport Limited (the “Additional BIAL Investment”).

The special resolution to approve the one-time deviation from the Investment Concentration Restriction required the approval of the holders of multiple voting shares and subordinate voting shares of the Company, each voting separately as a class. At the Special Meeting, the special resolution was approved by (i) 100% of the votes cast by holders of multiple voting shares, and (ii) approximately 99% of the votes cast by holders of subordinate voting shares.

Completion of the Additional BIAL Investment remains subject to receipt of applicable third party consents and other customary closing conditions. Assuming that the remaining conditions to closing are satisfied, it is expected that the Additional BIAL Investment will close in Q1 2025.

About Fairfax India

Fairfax India is an investment holding company whose objective is to achieve long-term capital appreciation, while preserving capital, by investing in public and private equity securities and debt instruments in India and Indian businesses or other businesses with customers, suppliers or business primarily conducted in, or dependent on, India.

For further information, contact: John Varnell, Vice President, Corporate Affairs (416) 367-4755

Thispressreleasemaycontainforward-lookingstatementswithinthemeaningofapplicablesecuritieslegislation. Forward-lookingstatementsmayrelatetotheCompany’soranIndianInvestment’sfutureoutlookandanticipated events orresults and mayinclude statementsregarding the financialposition,businessstrategy,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, an Indian Investment, or the Indian 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”,“isexpected”,“budget”,“scheduled”,“estimates”,“forecasts”,“intends”,“anticipates”or“doesnot anticipate”or “believes”,or variations of such wordsand phrases orstatethatcertain actions, events orresults “may”, “could”, “would”, “might”, “will” or “will be taken”, “occur” or “be achieved”.

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Forward-lookingstatementsarebasedonouropinionsandestimatesasofthedateofthispressrelease,andthey are subject to known and unknown risks, uncertainties, assumptions and other factors 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: oil price risk; geographic concentrationofinvestments;foreigncurrencyfluctuation;volatilityoftheIndiansecuritiesmarkets;investments may be made in foreign private businesses where information is unreliable or unavailable; valuation methodologies involve subjective judgments; financial market fluctuations; pace of completing investments; minority investments; reliance on key personnel and risks associated with the Investment Advisory Agreement; disruption of the Company’s information technology systems; lawsuits; use of leverage; significant ownership by Fairfax may adversely affect the market price of the subordinate voting shares; weather risk; taxation risks; emergingmarkets;MLI;economicrisk;tradingpriceofsubordinatevotingsharesrelativetobookvaluepershare risk;andeconomicdisruptionsfromtheafter-effectsoftheCOVID-19pandemicandtheconflictsinUkraineand theMiddleEast.AdditionalrisksanduncertaintiesaredescribedintheCompany’sannualinformationformdated March 8, 2024 which is available on SEDAR+ at www.sedarplus.caand on the Company’s website at www.fairfaxindia.ca. 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,readersshouldnotplaceunduerelianceonforward-lookingstatements.TheCompanydoesnot undertaketoupdateanyforward-lookingstatementscontainedherein,exceptasrequiredbyapplicable securities laws.

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