Ms. Leisha Roche reports

PICTON MAHONEY ASSET MANAGEMENT ANNOUNCES LAUNCH OF USD-DENOMINATED UNITS OF PICTON MULTI-STRATEGY ALPHA ALTERNATIVE FUND

Picton Mahoney Asset Management (Picton Investments) today launched a U.S.-dollar-denominated class of units of the Picton Multi-Strategy Alpha Alternative Fund, Class UF units. With the addition of these units, the fund will offer six classes of units: Class A, Class F, Class FT, Class I, Class UF and ETF (exchange-traded fund) units. Class A, Class F, Class FT, Class I and ETF units of the fund are currently available to the public.

About Picton Mahoney Asset Management (Picton Investments)

Picton Investments is a Canadian investment firm with $16-billion in assets under management (as at Oct. 31, 2025), recognized for pioneering alternative investment strategies that challenge traditional thinking. Since 2004, Picton Investments has been helping advisers and investors rethink portfolio construction -- moving away from traditional models toward more resilient, diversified solutions. Leveraging deep expertise in quantitative research, fundamental analysis and authentic hedging strategies, Picton Investments champions a modern approach designed to deliver more consistent, risk-adjusted returns. Picton Investments' philosophy is to "build from the bear up," embracing a bear mindset of resiliency, adaptability and strength to provide Canadians with greater certainty.

Commissions, trailing commissions, management fees, performance fees and expenses all may be associated with mutual fund investments. Please read the prospectus before investing. Mutual funds are not guaranteed, their values change frequently and past performance may not be repeated. Alternative mutual funds can only be purchased through a registered dealer and are available only in those jurisdictions where they may be lawfully offered for sale.