Mr. David Esfandi reports

CANACCORD GENUITY GROUP INC. THROUGH ITS WEALTH MANAGEMENT BUSINESS IN THE UK, ANNOUNCES ACQUISITION OF INTELLIGENT CAPITAL

Canaccord Genuity Group Inc., through its wealth management business in the United Kingdom and Crown Dependencies (CGWM U.K.), has entered into a share purchase agreement to acquire Intelligent Capital.

The transaction supports CGWM's strategy of investing in the growth and success of its wealth management business while continuing to increase the scale of its financial planning capacity.

Founded in 1999, Intelligent Capital is a financial planning business based in Glasgow, Scotland, with 220 million pound sterling in client assets. Upon completion of the transaction, the professionals and clients of Intelligent Capital will operate under the Adam & Company brand, which represents the Scottish operating business of CGWM U.K. Intelligent Capital's core client proposition will remain unchanged, and its financial planners will be fully supported in continuing to directly manage their client relationships. Together, Intelligent Capital and Adam & Company will become a significant wealth management business in Scotland with further growth potential.

David Esfandi, chief executive officer of CGWM U.K., said: "We are excited to be joined by a strong team of deeply experienced financial planning professionals from Intelligent Capital. We have had an excellent experience since entering the important Scottish market in 2021, and the addition of a new office in Glasgow gives us more expertise in the region to meet the growing demand for our outstanding integrated wealth management offering."

David Bremner, Intelligent Capital's largest shareholder and current managing director, will join the executive leadership team of Adam & Company as head of wealth management -- Glasgow. He will continue to actively manage the business with a focus on supporting a successful integration for employees and clients, while working closely with Matt Phillips, director of wealth planning for CGWM, and Graham Storrie, head of Adam & Company Wealth Management.

Mr. Bremner added: "We have always had a strong vision for the future of Intelligent Capital and from our earliest conversations, we found that Canaccord Genuity and Adam & Company were completely aligned with our values and our commitment to high ethics and client service standards. I look forward to beginning this next chapter with a leading Scottish brand and being able to offer our existing and future clients an elevated financial planning experience."

Closing is subject to regulatory approval and other customary closing conditions. The acquisition is expected to be completed within the quarter ended March 31, 2024.

About Canaccord Genuity Group Inc.

Through its principal subsidiaries, Canaccord Genuity is a leading independent, full-service financial services firm, with operations in two principal segments of the securities industry: wealth management and capital markets. Since its establishment in 1950, the company has been driven by an unwavering commitment to building lasting client relationships. Canaccord achieves this by generating value for its individual, institutional and corporate clients through comprehensive investment solutions, brokerage services and investment banking services. The company has wealth management offices located in Canada, the U.K., Guernsey, Jersey, the Isle of Man and Australia. The company's international capital markets division operates in North America, the U.K. and Europe, Asia, and Australia.

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