Mr. Robert Goodall reports

ATRIUM MORTGAGE INVESTMENT CORPORATION ANNOUNCES NORMAL COURSE ISSUER BID

The Toronto Stock Exchange has accepted a notice filed by Atrium Mortgage Investment Corp. of its intention to make a normal course issuer bid with respect to its outstanding common shares.

The notice provides that Atrium may, during the 12-month period commencing June 24, 2023, and ending no later than June 23, 2024, purchase through the facilities of the TSX and/or alternative Canadian trading systems up to 4,176,336 common shares in total, being 10 per cent of the public float of common shares as of June 9, 2023. The price which Atrium will pay for any common shares will be the market price at the time of acquisition. During the period of this NCIB, Atrium may make purchases under the NCIB by means of open market transactions. The actual number of common shares which may be purchased pursuant to the NCIB and the timing of any such purchases will be determined by senior management of Atrium. The average daily trading volume from December 1, 2022 to May 31, 2023 was 41,327 common shares. Daily purchases under the NCIB will be generally limited to 10,331 common shares, other than block purchases. All shares purchased by Atrium under the NCIB will be cancelled.

As of June 9, 2023, there were 43,649,883 common shares of Atrium outstanding, and the public float was 41,763,367 common shares.

Atrium may purchase its common shares, from time to time, if it believes that the market price of its common shares is attractive and that the purchase would be an appropriate use of corporate funds and in the best interests of Atrium.

In connection with the NCIB, Atrium has entered into an automatic share purchase plan ("ASPP") with a designated broker to facilitate the purchase of common shares under the NCIB, including at times when Atrium would ordinarily not be permitted to purchase its common shares due to regulatory restrictions or self-imposed blackout periods. During restricted or blackout periods, purchases under the ASPP will be determined by the designated broker in its sole discretion based on the purchasing parameters set by Atrium in accordance with the rules of the TSX, applicable securities laws and the terms of the ASPP. Outside of the restricted and blackout periods, the timing and amount of purchases under the NCIB will be determined by senior management of Atrium. The ASPP has been pre-cleared by the TSX and will become effective on June 24, 2023, concurrently with the commencement of the NCIB. All purchases made under the ASPP will be included in computing the number of common shares purchased under the NCIB.

Pursuant to a previous notice of intention to conduct a NCIB, under which Atrium sought and received approval from the TSX to purchase up to 3,000,000 common shares for the period of June 24, 2022 to June 23, 2023, Atrium has not purchased for cancellation, as of June 9, 2023, any common shares. Atrium's previous NCIB expires on June 23, 2023.

About Atrium

Atrium is a non-bank provider of residential and commercial mortgages that lends in major urban centres in Canada where the stability and liquidity of real estate are high. Atrium's objectives are to provide its shareholders with stable and secure dividends and preserve shareholders' equity by lending within conservative risk parameters.

Atrium is a Mortgage Investment Corporation (MIC) as defined in the Income Tax Act (Canada), so is not taxed on income provided that its taxable income is paid to its shareholders in the form of dividends within 90 days after December 31 each year. Such dividends are generally treated by shareholders as interest income, so that each shareholder is in the same position as if the mortgage investments made by the company had been made directly by the shareholder.

We seek Safe Harbor.