Successful Overnight Offering

Core Viewpoint - Canadian Life Companies Split Corp. has successfully completed the overnight marketing of its Preferred Shares and Class A Shares, raising approximately $40.0 million in gross proceeds [1][2]. Offering Details - The offering is expected to close on or about June 26, 2025, pending approval by the TSX [2]. - Preferred Shares were priced at $10.55 each, yielding 6.64%, while Class A Shares were priced at $6.35 each, yielding 18.90% [2]. - The closing prices on the TSX for the Preferred Shares and Class A Shares on June 18, 2025, were $10.70 and $6.50, respectively [2]. Use of Proceeds - The net proceeds from the offering will be invested in an actively managed portfolio primarily consisting 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. [3]. Investment Objectives - For Preferred Shares, the company aims to provide fixed, cumulative preferential monthly cash dividends at a rate equal to the greater of 7.00% or Prime Rate plus 2% (maximum of 9%) annually based on the $10.00 original issue price, and to return the original $10 issue price by December 1, 2030 [4]. - For Class A Shares, the company intends to provide regular monthly cash dividends as determined by the directors and to pay remaining amounts after Preferred Shareholders by December 1, 2030 [4].