An anonymous director reports

CANADIAN BANC CORP. ANNOUNCES TSX ACCEPTANCE OF NORMAL COURSE ISSUER BID

The Toronto Stock Exchange has accepted Canadian Banc Corp.'s notice of intention to make a normal course issuer bid to purchase its preferred shares and Class A shares through the facilities of the TSX and/or alternative Canadian trading systems. The NCIB will commence on June 3, 2026, and terminate on June 2, 2027.

Pursuant to the NCIB, the company proposes to purchase, from time to time, if it is considered advisable, up to 5,519,308 preferred shares and 5,340,328 Class A shares of the company, representing 10 per cent of the public float of 55,193,086 preferred shares and 53,403,280 Class A shares. As of May 20, 2026, there were 55,215,657 preferred shares and 53,444,205 Class A shares issued and outstanding. The company will not purchase, in any given 30-day period, in the aggregate, more than 1,104,313 preferred shares or more than 1,068,884 Class A shares, being 2 per cent of the issued and outstanding preferred shares and Class A shares as of May 20, 2026. Under the previous normal course issuer bid that commenced on June 2, 2025, and will terminate on June 1, 2026, no purchases of preferred shares or Class A shares were made.

The board of directors of the company, on the advice of Quadravest Capital Management Inc., the company's investment manager, believes that such purchases are in the best interests of the company and are a desirable use of its funds. All purchases will be made through the facilities and in accordance with the rules and policies of the TSX. All preferred shares or Class A shares purchased by the company pursuant to the NCIB will be cancelled.

The company invests in a portfolio of six publicly traded Canadian banks as follows:

• Bank of Montreal;
• Canadian Imperial Bank of Commerce;
• Royal Bank of Canada;
• Bank of Nova Scotia;
• National Bank of Canada; and
• Toronto-Dominion Bank.

We seek Safe Harbor.