Mr. Eli Dadouch reports

FIRM CAPITAL MORTGAGE INVESTMENT CORPORATION CONFIRMATION OF SPECIAL YEAR-END DIVIDEND AMOUNT

Firm Capital Mortgage Investment Corp.'s board of directors has formally declared the previously announced special year-end dividend of 5.4 cents per common share. The regular December, 2023, dividend and the special year-end dividend, totalling 13.2 cents per common share, are payable on Jan. 15, 2024, to holders of common shares of record at the close of business on Dec. 31, 2023.

The special year-end dividend recognizes that the annual income generated in 2023 exceeded the regular dividends. Accordingly, the corporation is paying out the special year-end dividend to ensure it distributes all its taxable income. The special dividend is not indicative of future performance by the corporation.

Total dividends paid to holders of common shares in 2023, including the December and special year-end dividends, amounted to 99 cents per common share.

On Dec. 1, 2023, the corporation announced that its board of directors has declared monthly cash dividends of 7.8 cents per common share (subject to adjustment in the discretion of the board of directors) payable on such dates as are set out below to holders of common shares of record at the close of business on each date as noted herein.

About Firm Capital Mortgage Investment Corp.

The corporation, through its mortgage banker, Firm Capital Corp., is a non-bank lender providing residential and commercial short-term bridge and conventional real estate financing, including construction, mezzanine and equity investments. The corporation's investment objective is the preservation of shareholders' equity, while providing shareholders with a stable stream of monthly dividends from investments. The corporation achieves its investment objectives through investments in selected niche markets that are underserviced by large lending institutions. Lending activities to date continue to develop a diversified mortgage portfolio, producing a stable return to shareholders. The corporation is a mortgage investment corporation (MIC) as defined in the Income Tax Act (Canada). Accordingly, the corporation is not taxed on income provided that its taxable income is paid to its shareholders in the form of dividends within 90 days after Dec. 31 each year. Such dividends are generally treated by shareholders as interest income, so that each shareholder is in the same position as if the mortgage investments made by the corporation had been made directly by the shareholder.

We seek Safe Harbor.