Mr. Jonathan Morgan reports

CANADIAN GENERAL INVESTMENTS: INVESTMENT UPDATE - UNAUDITED

Canadian General Investments Ltd.'s net asset value per share (NAV) at Oct. 31, 2026, on an unaudited basis, was $84.06, resulting in year-to-date and 12-month NAV returns, with dividends reinvested, of 5.3 per cent and 3.9 per cent, respectively. These compare with the 14.4-per-cent and 20.4-per-cent returns of the benchmark S&P/TSX Composite Index on a total return basis for the same periods.

The company employs a leveraging strategy, by way of bank borrowing, with the intent to enhance returns to common shareholders. As at Oct. 31, 2026, the leverage represented 12.8 per cent of Canadian General's net assets, up from 11.9 per cent at the end of 2025 and 11.7 per cent at Oct. 31, 2025.

The closing price for Canadian General's common shares at Oct. 31, 2026, was $51.20, resulting in year-to-date and 12-month share price returns, with dividends reinvested, of 10.3 per cent and 16.4 per cent, respectively.

The sector weightings of Canadian General's investment portfolio at market as of Oct. 31, 2026, are provided in an attached table.

The top 10 investments that made up 37.2 per cent of the investment portfolio at market as of Oct. 31, 2026, are detailed in another table.