An anonymous representative of 1373113 B.C. reports

MANAGEMENT-LED GROUP PROVIDES UPDATE REGARDING OFFER TO ACQUIRE COMMON SHARES OF CANACCORD GENUITY GROUP

1373113 B.C. Ltd. and a management-led group consisting of officers and employees of Canaccord Genuity Group Inc. and its subsidiaries that have offered to acquire all of the issued and outstanding common shares of the company (other than certain common shares beneficially owned by the CG employee group) have provided an update in relation to the offer.

The offeror believes there is no reasonable chance that the substantive conditions to the offer will be satisfied at or prior to the offer's current expiry time of 11:59 p.m. ET on June 13, 2023, including conditions that cannot be waived and conditions that the offeror does not intend to waive. Where the conditions to the offer are not satisfied or waived (where permitted) and the offeror does not extend the expiry time, the offer will terminate and no common shares will be acquired by the offeror. At this time, the offeror has made no final determination as to whether it will extend the offer, and there can be no assurance that the offer will be extended.

Confirmation as to whether the conditions to the offer were satisfied and notice as to whether the offer has been extended will be provided in accordance with the terms of the offer documents (as defined herein) and applicable law, and are expected to be publicly announced on June 14, 2023, prior to the start of trading.

About the offer

The offer is open for acceptance until 11:59 p.m. ET on June 13, 2023, unless extended, accelerated or withdrawn.

The offer is subject to a number of conditions that are set out in the offer and takeover bid circular and related offer documents. Subject to applicable law, the offeror reserves the right to withdraw, accelerate or extend the offer and to not take up and pay for any common shares deposited under the offer unless each of the conditions of the offer is satisfied or, where permitted, waived by the offeror at or prior to the expiry of the offer. Where permitted by applicable law, any waiver of a condition, withdrawal of the offer or variation to the terms of the offer will be effective upon written notice to the company's depositary and information agent, Kingsdale Advisors, to then communicate such notice to registered holders of common shares and holders of convertible securities of the company. Any such written notice delivered to the company's depositary and information agent will be publicly announced by the offeror promptly thereafter.

Shareholders are strongly encouraged to read the offer documents carefully and in their entirety since they contain additional important information regarding the terms and the conditions of the offer.

Copies of the offer documents filed with the Canadian securities regulatory authorities are available electronically without charge under Canaccord Genuity's profile on SEDAR.

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