Overnight Offering Announced

Core Viewpoint - Canadian Life Companies Split Corp. is initiating an offering of Preferred Shares and Class A Shares, with the offering led by National Bank Financial Inc. [1] Offering Details - The sales period for the overnight offering will conclude at 8:30 a.m. EST on February 4, 2026, with an expected closing date around February 11, 2026, pending TSX approval [2] - Preferred Shares are priced at $10.45 each, while Class A Shares are priced at $7.65 each [2] Share Performance and Dividends - As of February 2, 2026, the closing prices were $10.53 for Preferred Shares and $7.83 for Class A Shares [3] - Total dividends declared since inception are $12.85 per Preferred Share and $9.85 per Class A Share, amounting to a combined total of $22.70 per unit [3] - All distributions have been made in tax-advantaged eligible Canadian dividends or capital gains dividends [3] Investment Strategy - The net proceeds from the offering will be allocated to an actively managed portfolio primarily consisting of four publicly traded Canadian life insurance companies: Great‐West Lifeco Inc., iA Financial Corporation Inc., Manulife Financial Corporation, and Sun Life Financial Inc. [4] Investment Objectives - For Preferred Shares, the company aims to provide fixed, cumulative preferential monthly cash dividends at a rate of the greater of 7.00% or Prime Rate plus 2% (capped at 9%) annually based on the $10.00 original issue price, with a return of the original $10 issue price by December 1, 2030 [6] - For Class A Shares, the objective is to provide regular monthly cash dividends as determined by the directors, with remaining amounts paid to Class A shareholders after fulfilling obligations to Preferred Shareholders by December 1, 2030 [6]