An anonymous trustee reports

ALARIS EQUITY PARTNERS ANNOUNCES UPSIZING OF PREVIOUSLY ANNOUNCED CONVERTIBLE UNSECURED SENIOR DEBENTURES

As a result of excess demand, Alaris Equity Partners Income Trust has agreed with the syndicate of underwriters led by National Bank Financial Inc. and CIBC Capital Markets to increase the size of its previously announced bought deal financing. Alaris will issue 100,000 convertible unsecured senior debentures due Dec. 31, 2030, at a price of $1,000 per debenture for aggregate gross proceeds of $100-million. The trust has also granted the underwriters an option to purchase up to an additional $15-million aggregate principal amount of debentures, on the same terms and conditions, exercisable in whole or in part, from time to time, up to 30 days following the closing of the offering.

In all other respects, the terms of the offering and use of proceeds therefrom will remain as previously disclosed in the original press release dated Dec. 1, 2025. The offering is expected to close on or about Dec. 17, 2025, and is subject to certain conditions, including, but not limited to, the receipt of all necessary corporate and regulatory approvals, including the approval of the Toronto Stock Exchange. A preliminary short form prospectus will be filed with securities regulatory authorities in all provinces of Canada, other than the province of Quebec.

About Alaris Equity Partners Income Trust

The trust, through its subsidiaries, invests in a diversified group of private businesses primarily through structured equity. The primary goal of the trust's structured equity investments is to deliver stable and predictable returns to its unitholders through both cash distributions and capital appreciation. This strategy is enhanced by common equity positions, which allow it to generate returns in alignment with the founders of its partners.

We seek Safe Harbor.