Ms. Julia Gray reports

HELIOS FAIRFAX PARTNERS ANNOUNCES INTENTION TO MAKE A NORMAL COURSE ISSUER BID

The Toronto Stock Exchange (the TSX) has accepted a notice filed by Helios Fairfax Partners Corp. of its intention to commence a normal course issuer bid for its subordinate voting shares through the facilities of the TSX (or other alternative Canadian trading systems) effective June 23, 2023. Purchases will be made in accordance with the rules and policies of the TSX and the subordinate voting shares purchased by Helios will be cancelled.

The notice provides that HFP's board of directors has approved the purchase on the TSX (or other alternative Canadian trading systems), during the period commencing June 23, 2023, and ending June 22, 2024, of up to 2,643,017 subordinate voting shares representing approximately 5 per cent of the company's 52,860,342 issued and outstanding subordinate voting shares as at June 9, 2023. Under the bid, Helios may purchase up to 1,667 subordinate voting shares on the TSX (or other alternative Canadian trading systems) during any trading day, which represents 25 per cent of the average daily trading volume on the TSX for the prior six months (being 6,669 subordinate voting shares), all as calculated in accordance with the rules of the TSX. This daily limitation does not apply to purchases made pursuant to block purchase exemptions.

Helios is making this normal course issuer bid because it believes that in appropriate circumstances its subordinate voting shares represent an attractive investment opportunity and that purchases under the bid will enhance the value of the subordinate voting shares held by the remaining shareholders.

Helios also announces that it has entered into an automatic share purchase plan (the ASPP) with a designated broker to allow for the purchase of its subordinate voting shares under its normal course issuer bid at times when HFP normally would not be active in the market due to applicable regulatory restrictions or internal trading blackout periods. Before the commencement of any particular internal trading blackout period, HFP may, but is not required to, instruct its designated broker to make purchases of subordinate voting shares under the normal course issuer bid during the ensuing blackout period in accordance with the terms of the ASPP. Such purchases will be determined by the broker in its sole discretion based on parameters established by Helios prior to commencement of the applicable blackout period in accordance with the terms of the ASPP and applicable TSX rules. Outside of these blackout periods, subordinate voting shares will be purchasable by Helios at its discretion under its normal course issuer bid.

The ASPP will terminate on the earliest of the date on which: (a) the maximum annual purchase limit under the normal course issuer bid has been reached; (b) the normal course issuer bid expires; or (c) HFP terminates the ASPP in accordance with its terms. The ASPP constitutes an automatic securities purchase plan under applicable Canadian securities laws.

About Helios Fairfax Partners Corp.

Helios Fairfax Partners is an investment holding company the investment objective of which is to achieve long-term capital appreciation, while preserving capital, by investing in public and private equity securities and debt instruments in Africa and African businesses or other businesses with customers, suppliers or business primarily conducted in, or dependent on, Africa.