An anonymous director reports

NORTH AMERICAN FINANCIAL 15 SPLIT CORP. PREFERRED SHARE RATE INCREASE

North American Financial 15 Split Corp.'s preferred share dividend rate for the fiscal year beginning Dec. 1, 2023, will increase by 1.75 per cent over the current rate. Monthly payments to FFN.PR.A will be 7.917 cents per share for an annual yield of 9.50 per cent on their $10 redemption value.

The company invests in an actively managed, high-quality portfolio consisting of 15 financial service companies made up of Canadian and U.S. issuers.

                               INVESTMENT PORTFOLIO

Bank of Montreal                     National Bank of Canada    Bank of America Corp.   
Bank of Nova Scotia                  Manulife Financial Corp.   Citigroup Inc.          
Canadian Imperial Bank of Commerce   Sun Life Financial Inc.    Goldman Sachs Group Inc.
Royal Bank of Canada                 Great-West Lifeco Inc.     JP Morgan Chase & Co.   
Toronto-Dominion Bank                CI Financial Corp.         Wells Fargo & Co.