Ms. Theresa Shutt reports

FIERA PRIVATE DEBT RAISES $350M IN FIRST CLOSE OF SEVENTH VINTAGE OF ITS FLAGSHIP CANADIAN PRIVATE CREDIT STRATEGY

Fiera Private Debt Inc., a wholly owned subsidiary of Fiera Capital Corp., has completed the first close of the seventh vintage of its flagship Canadian private credit fund, Fiera Private Debt Fund VII (FPD VII), having raised $350-million for the strategy through a closed-end fund and a separately managed account.

FPD VII benefited from strong institutional investor support as clients recognized the unique opportunity presented by Fiera Private Debt's differentiated strategy focused on providing senior secured term debt financing directly to high-quality, middle-market Canadian businesses. The objective of the strategy is to originate and pro-actively manage a diversified portfolio of high-quality private debt investments offering stable cash flow, enhanced yield and low volatility.

"Our team is pleased by the endorsement of both existing and new investors, which continues to validate our unique and longstanding position in the Canadian debt market. We leverage our long track record of successful investment selection and rigorous underwriting to create customized debt solutions generating attractive returns," said Theresa Shutt, head of corporate debt. "As such, our investors are attracted by the out-sized cash yield and downside protection that have been central tenets of our strategy for over 30 years. We are thrilled to be able to support Canadian businesses through their next phase of growth and evolution."

John Valentini, executive director, president and chief executive officer of Fiera Private Markets, commented: "Fiera Private Debt has a leadership position in the Canadian market, providing private credit strategies targeting the mid-market segment that provides attractive returns for investors. Not only are we able to achieve attractive risk-adjusted returns for our investors, but we also provide an important source of capital in support of our borrowers. Our innovative approach to borrower engagement has solidified our position as the non-bank lender of choice for Canadian middle-market businesses seeking a sophisticated financing partner."

About Fiera Private Debt

Fiera Private Debt, a wholly owned subsidiary of Fiera Capital, is a leading Canadian private debt manager with a 30-plus-year record in originating and managing private debt investments for institutional investors. Since the firm's inception, Fiera Private Debt has raised and invested over $3.5-billion in capital in mid-market Canadian companies that exhibit strong return metrics coupled with downside protection.

Fiera Private Debt manages a diversified suite of private credit strategies, including investment-grade-equivalent private debt, opportunistic credit, bridge financing and infrastructure debt.

Fiera Private Debt is not registered with the United States Securities and Exchange Commission (SEC) and does not currently provide services in the United States or to U.S. investors.

About Fiera Capital Corp.

Fiera Capital is a leading independent asset management firm with a growing global presence. The company delivers customized and multiasset solutions across public and private market asset classes to institutional, financial intermediary and private wealth clients across North America, Europe and key markets in Asia. Fiera Capital's depth of expertise, diversified investment platform and commitment to delivering outstanding service are core to the company's mission of being at the forefront of investment management science to create sustainable wealth for clients. Fiera Capital trades under the ticker FSZ on the Toronto Stock Exchange.

Headquartered in Montreal, Fiera Capital, with its affiliates in various jurisdictions, has offices in over a dozen cities around the world, including New York (United States), London (United Kingdom) and Hong Kong (SAR (special administrative region)).

Each affiliated entity of Fiera Capital only provides investment advisory or investment management services or offers investment funds in the jurisdictions where the affiliate is authorized to provide services pursuant to an exemption from registration and/or the relevant product is registered.

Fiera Capital does not provide investment advice to U.S. clients or offer investment advisory services in the U.S. In the U.S., asset management services are provided by Fiera Capital's affiliates who are investment advisers that are registered with the U.S. Securities and Exchange Commission or exempt from registration. Registration with the SEC does not imply a certain level of skill or training.

We seek Safe Harbor.