Canadian Life Companies Split Corp. Announces TSX Acceptance of Normal Course Issuer Bid

Core Viewpoint - Canadian Life Companies Split Corp. has announced its intention to initiate a Normal Course Issuer Bid (NCIB) to repurchase its Preferred Shares and Class A Shares, which will commence on June 2, 2025, and end on June 1, 2026 [1]. Group 1: NCIB Details - The Company plans to purchase up to 1,090,320 Preferred Shares and 1,012,451 Class A Shares, representing 10% of the public float of 10,903,202 Preferred Shares and 10,124,519 Class A Shares [2]. - As of May 21, 2025, there were 10,985,202 Preferred Shares and 10,662,478 Class A Shares issued and outstanding [2]. - The Company will limit its purchases to no more than 219,704 Preferred Shares or 213,249 Class A Shares in any given 30-day period, which is 2% of the issued and outstanding shares as of May 21, 2025 [2]. Group 2: Management Perspective - The Board of Directors, advised by Quadravest Capital Management Inc., believes that the share repurchases are in the best interests of the Company and represent a desirable use of its funds [3]. - All repurchased shares will be cancelled following the NCIB [3]. Group 3: Investment Portfolio - The Company invests in a portfolio of four publicly traded Canadian life insurance companies: Great‐West Lifeco Inc., Industrial Alliance Insurance & Financial Services Inc., Manulife Financial Corporation, and Sun Life Financial Inc. [4].