Fairfax Announces Acquisition of Shares of Quess

Bengaluru, India – 2^nd Aug 2019: Fairfax Financial Holdings Limited (“Fairfax”) (TSX: FFH and FFH.U) announces that it has acquired an additional 256,200 equity shares of Quess Corp Limited (“Quess”). Upon completion of the acquisition of these additional Quess shares and the previously announced spinout of Quess shares by Thomas Cook (India) Limited, the parent of Quess and a subsidiary of Fairfax, to its shareholders, Fairfax will own 32.35% of Quess.

“We consider Ajit Isaac, the Founder and Chairman and the owner of 22.65% of Quess, to be an outstanding entrepreneur who is in the process of building a great company,” said Prem Watsa, Chairman and Chief Executive Officer of Fairfax. “We are excited to increase our ownership of Quess and we expect to further increase our shareholding in the future as we believe that Quess will be a great long-term investment.”

Fairfax is a holding company which, through its subsidiaries, is engaged in property and casualty insurance and reinsurance and the associated investment management.

About Quess Corp

Quess Corp Limited (BSE: 539978, NSE: QUESS), is India’s leading business services provider. At Quess, we excel in helping large and emerging companies manage their non-core activities by leveraging our integrated service offerings across industries and geographies which provides significant operational efficiencies to our clients. Quess has a team of over 357,000 employees across India, North America, South America, South East Asia and the Middle East across segments such as Industrials, Facility Management, People Services, Technology Solutions and Internet Business. Quess serves over 2,000 clients worldwide. Established in 2007, Quess is headquartered in Bengaluru, India and has a market cap of approx. Rs. 8,452 Cr as on June 30^th, 2019.