An anonymous director reports

LAURENTIAN BANK OF CANADA ANNOUNCES INCREASED COMMON SHARE DIVIDEND

At its meeting held on May 31, 2023, the board of directors of Laurentian Bank of Canada approved an increase of one cent on its common shares and declared a regular quarterly dividend of 47 cents per share on the common shares payable on Aug. 1, 2023, to the holders of record at the close of business on July 4, 2023.

The above-mentioned dividends are designated as eligible dividends for the purposes of the Income Tax Act (Canada) and any similar provincial and territorial legislation.

The bank's common shares are eligible shares under the bank's shareholder dividend reinvestment and share purchase plan. Consequently, the holders of such shares may elect to reinvest their dividends in newly issued common shares of the bank. Such purchases will be made at the applicable investment price as defined in the plan, less a discount of 2 per cent, and no brokerage commissions or service charges of any kind will apply.

In addition, holders of such shares are entitled to make monthly optional cash payments to purchase additional common shares in accordance with the terms of the plan.

About Laurentian Bank of Canada

At Laurentian Bank, it believes it can change banking for the better. By seeing beyond numbers.

Founded in Montreal in 1846, Laurentian Bank helps families, businesses and communities thrive. Today, it has approximately 3,000 employees working together as one team, to provide a broad range of financial services and advice-based solutions for customers across Canada and the United States. It protects, manages and grows $50.7-billion in balance sheet assets and $27.7-billion in assets under administration.

The bank drives results by placing its customers first, making the better choice, acting courageously and believing everyone belongs.