An anonymous director reports

DIVIDEND 15 SPLIT CORP. II EXTENDS TERMINATION DATE

Dividend 15 Split Corp. II will extend the termination date of the company a further five-year period from Dec. 1, 2024, to Dec. 1, 2029.

The term extension allows holders of DF Class A shares to continue to receive continuing leveraged exposure to a portfolio consisting of high-quality Canadian dividend-yielding stocks as well as receiving targeted monthly distributions. Since inception of the company Class A shareholders have received monthly distributions totalling $14.70 per share.

Holders of the DF.PR.A preferred shares are expected to continue to benefit from cumulative preferential monthly distributions. The preferred shareholders have received a total of $9.29 per share since inception.

The extension of the term of the company is not expected to be a taxable event and should enable shareholders to defer potential capital gains tax liability that would have otherwise been realized on the redemption of the Class A shares or preferred shares at the end of the term, until such time as such shares are disposed of by shareholders.

In connection with the extension, the company will have the right to amend the rate of cumulative preferential monthly dividends to be paid to the preferred shares for the five-year renewal period, commencing Dec. 1, 2024. Any change to the preferred share dividend rate for the extended term will be based on market yields for preferred shares with similar terms at such time and will be announced no later than Sept. 30, 2024.

In connection with the term extension, the company will offer a non-concurrent special retraction right which will allow existing shareholders to tender one or both classes of shares and receive a retraction price based on the Nov. 29, 2024, net asset value per unit.

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., TC Energy Corp.

Commissions, trailing commissions, management fees and expenses all may be associated with mutual fund investments. Investors should read the prospectus before investing. Mutual funds are not guaranteed, their values change frequently and past performance may not be repeated. Please read the company's publically filed documents which are available on SEDAR+.