An anonymous director reports

DIVIDEND 15 SPLIT CORP. II ANNOUNCES TSX ACCEPTANCE OF NORMAL COURSE ISSUER BID

The Toronto Stock Exchange has accepted Dividend 15 Split Corp. II's notice of intention to make a normal course issuer bid (NCIB) 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 May 29, 2023, and terminate on May 28, 2024.

Pursuant to the NCIB, the company proposes to purchase, from time to time, if it is considered advisable, up to 3,106,904 preferred shares and 3,098,274 Class A shares of the company, representing 10 per cent of the public float of 31,069,049 preferred shares and 30,982,749 Class A shares. As of May 15, 2023, there were 31,069,049 preferred shares and 31,069,049 Class A shares issued and outstanding. The company will not purchase, in any given 30-day period, in the aggregate, more than 621,380 preferred shares or more than 621,380 Class A shares, being 2 per cent of the issued and outstanding preferred shares and Class A shares as of May 15, 2023. Under the previous normal course issuer bid that commenced on May 27, 2022, and will terminate on May 26, 2023, 138,300 preferred shares and 880,400 Class A shares were purchased.

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 high-quality portfolio of leading Canadian dividend-yielding stocks as follows: Bank of Montreal, Bank of Nova Scotia, Canadian Imperial Bank of Commerce, Royal Bank of Canada, Toronto-Dominion Bank, National Bank of Canada, CI Financial Corp., BCE Inc., Manulife Financial, Enbridge, Sun Life Financial, Telus Corp., Thomson Reuters Corp., TransAlta Corp. and TC Energy Corp.

We seek Safe Harbor.