Mr. Robert Inglis reports

FIRST NATIONAL FINANCIAL CORPORATION TO ISSUE $200 MILLION OF 3.6 YEAR UNSECURED NOTES

First National Financial Corp. intends to issue $200-million of new senior unsecured notes.

The notes will be issued at a price of $999.91 per $1,000 principal amount pursuant to a private placement under an offering memorandum for a three-year seven-month term maturing on November 1, 2027. The notes will bear interest at 6.261% payable in semi-annual payments with the first payment payable on November 1, 2024. First National intends to use the net proceeds of the offering to make a loan to First National Financial LP (the "Partnership"), which will allow the Partnership to repay indebtedness under its bank credit facility and use for general partnership purposes. The offering is expected to close on April 1, 2024. The senior unsecured notes were offered through a syndicate of dealers co-led by RBC Capital Markets and TD Securities, supported by BMO Capital Markets, CIBC Capital Markets, National Bank Financial, Scotiabank, Desjardins Securities and Laurentian Bank Securities.

About First National Financial Corporation

First National Financial Corporation (TSX:FN, TSX:FN.PR.A, TSX:FN.PR.B) is the parent company of the Partnership, a Canadian-based originator, underwriter and servicer of predominantly prime residential (single-family and multi-unit) and commercial mortgages. With over $143 billion in mortgages under administration, First National is one of Canada's largest non-bank mortgage originators and underwriters and is among the top three in market share in the mortgage broker distribution channel.

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