Mr. Bob Dhillon reports

MAINSTREET ANNOUNCES NORMAL COURSE ISSUER BID

The Toronto Stock Exchange has accepted Mainstreet Equity Corp.'s notice of intention to make a normal course issuer bid to purchase outstanding common shares of the corporation on the open market in accordance with the rules of the TSX.

The corporation is authorized to purchase up to 474,499 shares under the normal course issuer bid, representing approximately 10 per cent of its public float of issued and outstanding shares, as of May 19, 2023. As of that date, there were 9,318,818 shares issued and outstanding. The average daily trading volume of the shares for the past six months ended April 30, 2023, calculated in accordance with the rules of the TSX, was 2,895, and Mainstreet is subject to a daily repurchase limit of 1,000 shares. Mainstreet intends to commence the normal course issuer bid on June 1, 2023, and terminate the bid on May 31, 2024, or such earlier time as the bid is completed or terminated at the option of Mainstreet.

All shares purchased under this bid will be purchased in the open market through the facilities of the TSX and/or alternative Canadian trading systems at the prevailing market price at the time of such transaction. Shares acquired under the bid will be cancelled.

Mainstreet intends to acquire common shares from time to time, in amounts and prices which its management believes are favourable and consistent with prudent economic and financial considerations. During the period between June 1, 2022, and the date hereof, Mainstreet repurchased 17,300 shares under its previous normal course issuer bid, at an average weighted price of $114.81 per share, with such repurchases being made through the facilities of the TSX and alternative Canadian trading systems. Mainstreet had approval from the TSX to acquire up to 477,109 shares under such previous normal course issuer bid.

Mainstreet's board of directors believes that, from time to time, the market price of its shares may not reflect their underlying value. At such times, the board of directors believe that the purchase of shares for cancellation pursuant to the normal course issuer bid is in the best interests of Mainstreet and its shareholders, as the cancellation of the shares will increase the value of the remaining shares.