Fairfax India (FIHU) AGM 2025 summary

Opening remarks and agenda

• Chairman welcomed attendees, outlined the meeting structure: formal business, presentations, and Q&A session.

• Corporate Secretary and scrutineers were appointed; quorum and proper notice confirmed.

• Minutes of previous meetings and the annual report, including audited financials, were made available.

Board and executive committee updates

• Eleven directors were nominated and elected, matching the number of board seats; no other nominations were received.

• PricewaterhouseCoopers LLP was reappointed as auditor until the next AGM.

• Voting was conducted electronically and by show of hands, with over 95% support for all resolutions.

Financial performance review

• Book value per share grew from $9.5 to $20.96 since inception; net worth stands at $2.8 billion.

• Investments per share increased to $26.85; $1.2 billion in cash and public securities against $500 million in borrowings.

• Share buybacks totaled 22.6 million shares (14% of capital) for $293 million since inception.

• Existing investments generated a 10% return since inception; public companies returned 19%, private 7%.

• No performance fee accrued in 2024; cumulative fees since inception are 1.9% of average assets.