An anonymous director reports

FINANCIAL 15 SPLIT CORP. SUCCESSFUL OVERNIGHT OFFERING OF PREFERRED SHARES

Financial 15 Split Corp. has completed the overnight offering of preferred shares (FTN.PR.A) of the company. Total gross proceeds of the offering are expected to be approximately $92.2-million.

The offering is being led by National Bank Financial Inc.

The sales period of this overnight offering has now ended.

The offering is expected to close on or about Nov. 25, 2025, and is subject to certain closing conditions, including approval by the Toronto Stock Exchange.

The preferred shares are being offered at a price of $10.60 per preferred share.

The closing price on the TSX of the preferred shares on Nov. 17, 2025, was $10.72.

The net proceeds of the offering will be used by the company to invest in an actively managed, high-quality portfolio consisting of financial services companies made up of Canadian and U.S. issuers, as detailed in the attached table.

The company's preferred share investment objectives are:

1. Effective Dec. 1, 2025, to provide holders of the preferred shares with fixed, cumulative monthly dividends at an annual rate of 7.25 per cent, as determined annually by the board of directors, and subject to a minimum rate of 6.00 per cent until 2030 (previously, 8.50 per cent with a five-year minimum of 5.50 per cent);
2. On or about the termination date, currently Dec. 1, 2030 (subject to further five-year extensions thereafter), to pay the holders of the preferred shares $10 per preferred share.

A prospectus supplement to the company's short form base shelf prospectus dated Dec. 19, 2023, containing important detailed information about the preferred shares and the Class A shares being offered will be filed with securities commissions or similar authorities in all provinces of Canada. Copies of the prospectus supplement and the short form base shelf prospectus may be obtained from your registered financial adviser using the contact information for such adviser, or from representatives of the agents listed above. There will not be any sale or any acceptance of an offer to buy the securities being offered until the prospectus supplement has been filed with the securities commissions or similar authorities in each of the provinces and territories of Canada.