An anonymous director reports

BROMPTON LIFECO SPLIT CORP. ANNOUNCES PREFERRED SHARE DISTRIBUTION RATE

Brompton Lifeco Split Corp.'s distribution rate for the preferred shares for the five-year term from April 30, 2024, to April 27, 2029, will be 70 cents per preferred share per annum (7.0 per cent on the par value of $10.00) payable quarterly. This represents a pre-tax interest equivalent yield of approximately 9.1 per cent.

The term extension offers preferred shareholders the opportunity to enjoy preferential cash dividends until April 27, 2029. Over the past 10-year period to Jan. 31, 2024, the preferred share has delivered a 6.1-per-cent-per-annum return.

In addition, the fund intends to maintain the targeted monthly Class A share distribution rate at 7.5 cents per Class A share. The Class A Share has outperformed both the S&P/TSX Capped Financials Index and the S&P/TSX Composite Index over the past one-, three-, five- and 10-year periods. Over the past 10-year period to Jan. 31, 2024, the Class A share has delivered an 11.6-per-cent-per-annum return, outperforming the S&P/TSX Capped Financials Index and the S&P/TSX Composite Index by 2.0 per cent per annum and 4.0 per cent per annum, respectively.

Since inception on April 18, 2007, to Jan. 31, 2024, Class A shareholders have received cash distributions of $8.36 per Class A share. Class A shareholders have the option to benefit by reinvesting their cash distributions in a distribution reinvestment plan (DRIP) which is commission-free to participants. Class A shareholders can enroll in the DRIP program by contacting their investment adviser.

The fund invests in a portfolio of common shares of Canada's four largest publicly listed life insurance companies, on an approximately equal weight basis: Great-West Lifeco Inc., iA Financial Group, Manulife Financial Corp. and Sun Life Financial Inc.

In connection with the extension, shareholders who do not wish to continue their investment in the fund, will be able to retract their preferred shares or Class A shares on April 29, 2024, pursuant to a special retraction right and receive a retraction price that is calculated in the same way that such price would be calculated if the fund were to terminate on April 29, 2024. Pursuant to this option, the retraction price may be less than the market price if the security is trading at a premium to net asset value. To exercise this retraction right, shareholders must provide notice to their investment dealer by March 28, 2024, at 5 p.m. (Toronto time). Alternatively, shareholders may sell their preferred shares and/or Class A shares through their securities dealer for the market price at any time, potentially at a higher price than would be achieved through retraction, or shareholders may take no action and continue to hold their shares.

About Brompton Funds

Founded in 2000, Brompton is an experienced investment fund manager with income focused investment solutions including exchange-traded funds (ETFs) and other Toronto Stock Exchange-traded investment funds.

We seek Safe Harbor.