Mr. Richard Carty reports

E-L FINANCIAL CORPORATION LIMITED ANNOUNCES DIVIDENDS

The board of directors of E-L Financial Corp. Ltd. has declared cash dividends.

Class                                 Record date    Payable date   Amount of dividend

First preference shares, Series 1   June 30, 2023   July 17, 2023             $0.33125          
First preference shares, Series 2   June 30, 2023   July 17, 2023            $0.296875         
First preference shares, Series 3   June 30, 2023   July 17, 2023             $0.34375          
Series A preference shares          June 30, 2023   July 17, 2023               $0.125            
Common shares                       June 30, 2023   July 17, 2023                $3.75             

E-L Financial advises that the referenced dividends are eligible dividends for the purposes of the Income Tax Act, Canada, and any similar provincial tax legislation. =