Ms. Stephanie Lo reports

CLAIRVEST COMPLETES SALE OF ACERA INSURANCE SHARES

Further to a statement released on Dec. 3, 2025, Clairvest Group Inc., together with Clairvest Equity Partners VI, has closed the merger between Acera Insurance Services Ltd. and Navacord Corp.

Acera's chief executive officer Lee Rogers, chairman and executive vice-president Andrew Kemp, the executive team, and employee shareholders rolled a significant portion of their equity into the combined entity. Clairvest has fully exited its investment in Acera as part of this transaction.

Under the terms of the sale, Clairvest received gross proceeds of approximately $407-million (CVG's portion being $110-million) at closing, composed of 80 per cent in cash and 20 per cent in a promissory note payable over 24 months. As previously announced, the sale will have a positive impact on Clairvest's book value per share of approximately $4 relative to the carrying value as at Sept. 30, 2025.

Clairvest's partnership with Acera underscores the strength of its minority investment approach, which has generated consistent, strong performance over the past 38 years.

About Clairvest Group Inc.

Clairvest's mission is to partner with entrepreneurs to help them build strategically significant businesses. Founded in 1987 by a group of successful Canadian entrepreneurs, Clairvest is a top-performing private equity management firm with over $4.3-billion of capital under management. Clairvest invests its own capital and that of third parties through the Clairvest Equity Partners limited partnerships in owner-led businesses. Under the current management team, Clairvest has initiated investments in 69 different platform companies and generated top-quartile performance over an extended period.