Ms. Nancy Tham reports

E SPLIT CORP. RENEWS AT-THE-MARKET EQUITY PROGRAM

E Split Corp. has renewed its at-the-market (ATM) equity program that allows the company to issue Class A and preferred shares to the public from time to time, at the company's discretion. Any Class A shares or preferred shares sold in the ATM program will be sold through the Toronto Stock Exchange, or any other marketplace in Canada on which the Class A shares and preferred shares are listed, quoted or otherwise traded, at the prevailing market price at the time of sale.

Sales of Class A shares and preferred shares through the ATM program will be made pursuant to the terms of an equity distribution agreement dated Feb. 14, 2025, with National Bank Financial Inc. Sales of Class A shares and preferred shares will be made by way of at-the-market distributions as defined in National Instrument 44-102, Shelf Distributions, on the TSX, or on any marketplace for the Class A shares and preferred shares in Canada. Since the Class A shares and preferred shares will be distributed at the prevailing market prices at the time of the sale, prices may vary among purchasers during the period of distribution.

The ATM program is being offered pursuant to a prospectus supplement dated Feb. 14, 2025, to the company's short form base shelf prospectus dated Feb. 12, 2025. The maximum gross proceeds from the issuance of the shares will be $200-million for each of the Class A and preferred shares. Copies of the prospectus supplement and the short form base shelf prospectus may be obtained from your registered financial adviser or from representatives of the agent, and are available on SEDAR+. The volume and timing of distributions under the ATM program, if any, will be determined at the company's sole discretion. The ATM program will be effective until March 13, 2027, unless terminated prior to such date by the company.

The company intends to use the proceeds from the ATM program in accordance with the investment objectives and investment strategies of the company, subject to the investment restrictions of the company. E Split invests in a portfolio consisted primarily of common shares of Enbridge Inc., a leading North American oil and gas pipeline, gas processing, and natural gas distribution company. Middlefield Capital Corp. provides investment management advice to the company.

The investment objectives for the Class A shares are to provide holders with non-cumulative monthly cash distributions and to provide holders with the opportunity for capital appreciation potential. The investment objectives for the preferred shares are to provide holders with fixed cumulative preferential quarterly cash distributions, currently in the amount of 17.50 cents per preferred share, and to return the original issue price to holders of preferred shares on June 30, 2028.

We seek Safe Harbor.