Mr. Philip Mayers reports

SAGEN MI CANADA INC. ANNOUNCES ANNUAL GENERAL MEETING VOTING RESULTS

At Sagen MI Canada Inc.'s annual general meeting held on June 9, 2023, the resolutions proposed in the company's proxy circular were carried. The detailed results are provided in the attached tables.

Each of the 11 nominees was appointed as a director of the company.

The appointment of Ernst & Young LLP as the auditor of the company was approved.

In accordance with the company's articles, at the meeting, each Class A common share of the company carries one vote per share and each Class A preferred share, Series 1, of the company carries 0.1431 vote per share. As of the record date for the meeting, the outstanding common shares represented approximately 64.9935 per cent of the aggregate voting rights attached to the company's issued and outstanding voting securities.

About Sagen MI Canada Inc.

Sagen MI Canada, operating through its wholly owned subsidiary, Sagen Mortgage Insurance Company Canada (doing business as Sagen), is the largest private-sector residential mortgage insurer in Canada. The company provides mortgage default insurance to Canadian residential mortgage lenders, making home ownership more accessible to first-time homebuyers. Sagen differentiates itself through customer service excellence, innovative processing technology and a robust risk management framework. For more than two decades, the company has supported the housing market by providing thought leadership and a focus on the safety and soundness of the mortgage finance system. As at March 31, 2023, the company had $6.7-billion in total assets and $2.8-billion in shareholders' equity.