Mr. Ken Thomson 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 shares, payable on March 28, 2024, to holders of Class A preferred shares of record as at March 19, 2024. 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 55.2 cents per Series 1 Class C preferred shares, payable on March 28, 2024, to holders of Class C preferred shares of record as at March 19, 2024. 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 (expressed as a percentage rounded to the nearest one-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 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 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 per cent, the company will deem the government of Canada yield to be 7 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 press release are qualified in their entirety by the articles of Montfort posted to its SEDAR+ profile.

In support of Montfort's growth, certain officers and directors of the company have subscribed for unsecured demand promissory notes issued by Montfort in the amount of $1.5-million for purposes of finacing portfolio investments. The promissory notes carry an annual interest rate of 12 per cent. The issuance of the promissory notes by Montfort is considered a related party transaction within the meaning of TSX Venture Exchange Policy 5.9 and Multilateral Instrument 61-101, Protection of Minority Security Holders in Special Transactions. The company has relied on exemptions from the formal valuation and minority shareholder approval requirements of MI 61-101 contained in sections 5.5(a) and 5.7(1)(a) of MI 61-101 as the principal amount of each promissory note issued to insiders does not exceed 25 per cent of the company's market capitalization (as determined in accordance with MI 61-101).

About Montfort Capital Corp.

Montfort is a trusted provider of focused private credit strategies for institutional investors, family offices and wealth managers. The company employs focused strategies, experienced management teams and advanced technology to drive superior risk-adjusted investment returns.

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