Mr. Frank Glosnek reports

UNITED CORPORATIONS LIMITED ANNOUNCES DIVIDENDS

The board of directors of United Corporations Ltd. has declared cash dividends as shown in the attached table.

Class                                   Record date   Payable date   Amount of    
                                                                      dividend

First preferred shares                 Aug. 3, 2018   Aug. 15, 2018     $0.375               
Second preferred shares, 1959 series   Aug. 3, 2018   Aug. 15, 2018     $0.375               
Second preferred shares, 1963 series   Aug. 3, 2018   Aug. 15, 2018     $0.375               
Common shares                          Aug. 3, 2018   Aug. 15, 2018      $0.30 

United Corporations advises that the dividends referenced herein are eligible dividends for the purposes of the Income Tax Act (Canada) and any similar provincial legislation.