Mr. Andrew Abouchar reports

MONTFORT CAPITAL ANNOUNCES QUARTERLY CASH DIVIDENDS FOR SERIES A CLASS A PREFERRED SHARES AND SERIES 1 CLASS C PREFERRED SHARES

Montfort Capital Corp.'s board of directors has declared a quarterly cash dividend of two cents per Series A Class A preferred share, payable on Dec. 29, 2023, to holders of Class A preferred shares of record as at Dec. 19, 2023. The Class A quarterly dividend qualifies as an eligible dividend for Canadian income tax purposes.

Holders of the Class A preferred shares are entitled to receive fixed non-cumulative preferential cash dividends, if, as and when declared by the board of directors of the company. Under the company's dividend policy, the annual dividend rate for the Class A preferred shares is targeted to be eight cents per Class A preferred share and dividends, if declared, will be payable on the last day of December, March, June and September in each year, or if such day is not a business day, on the next business day, at a quarterly rate of two cents per Class A preferred share. The amount and distribution dates of future dividends remain at the discretion of the company's board of directors.

The company's board of directors has also declared a quarterly cash dividend of 62.19 cents per Series 1 Class C preferred share, payable on Dec. 29, 2023, to holders of Class C preferred shares of record as at Dec. 19, 2023. The Class C quarterly dividend qualifies as an eligible dividend for Canadian income tax purposes.

Holders of the Class C preferred shares are entitled to receive fixed non-cumulative preferential cash dividends, if, as and when declared by the board of directors of the company. Under the terms of the Class C preferred shares, holders of the Class C preferred shares shall be entitled to receive, if declared, an amount determined by multiplying the floating quarterly dividend rate as calculated on the applicable floating rate calculation date by $25 and multiplying that product by a fraction, the numerator of which is the actual number of days in the quarterly floating rate period and the denominator of which is 365 or 366, depending on the actual number of days in the applicable year, payable on the day subsequent to applicable for the quarterly floating rate period. The amount and distribution dates of future dividends remain at the discretion of the company's board of directors.

Floating quarterly dividend rate means the annual rate of interest (express as a percentage rounded to the nearest 100,000th of 1 per cent (with 0.00005 per cent being rounded up)) equal to the sum of the government of Canada yield on the applicable floating rate calculation date and 5.00 per cent; provided that, if: (i) the government of Canada yield on the floating rate calculation date is less than 1.00 per cent, the company will deem the government of Canada yield to be 1.00 per cent for the purposes of calculating the floating quarterly dividend rate on each floating rate calculation date; and (ii) the government of Canada yield on the floating rate calculation date exceeds 7.00 per cent, the company will deem the government of Canada yield to be 7.00 per cent for the purposes of calculating the floating quarterly dividend rate on each floating rate calculation date.

Floating rate calculation date means, for any quarterly floating rate period, the last day of the prior fiscal quarter to the quarterly floating rate period.

Quarterly floating rate period means the period from and including the beginning of a fiscal quarter and ending on the last day of such fiscal quarter, with the fiscal quarters of Montfort commencing on Jan. 1, April 1, July 1 and Oct. 1.

The description of the terms of the Class A preferred shares and the Class C preferred shares disclosed in this news release are qualified in their entirety by the articles of Montfort posted to its SEDAR+ profile.

The company also announces the grant of 241,050 restricted share units (RSUs) to directors of the company in accordance with the rules of the TSX Venture Exchange and the company's equity incentive plan. The RSUs granted to the directors of the company will vest on Dec. 3, 2024, and once vested, each RSU will entitle the holder thereof to receive, at the discretion of the board of directors, either a common share in the capital of the company, a cash payment equivalent to the fair market value of the common share issuable upon vesting of the RSUs, or a combination thereof.

The RSU grants are subject to all necessary regulatory approval.

About Montfort Capital Corp.

Montfort manages a diversified group of specialized private credit brands that utilize focused strategies and experienced management teams combined with advanced technology to improve fee-related performance. Montfort facilitates transparency for all of its investors through public company reporting.

We seek Safe Harbor.