Ms. Leisha Roche reports

PICTON MAHONEY ASSET MANAGEMENT ANNOUNCES FUND NAME CHANGES, TICKER CHANGE AND RISK RATING CHANGES

Effective today, Picton Mahoney Asset Management has renamed the funds set forth herein in order to streamline the names across its fund family.

The ticker symbols for the ETF (exchange-traded fund) units of the funds that offer such class will remain unchanged, except for the ticker symbol of the ETF units of PICTON Credit Opportunities Alternative Fund (formerly, the Picton Mahoney Fortified Special Situations Alternative Fund) which will change from PFSS to PFCO. Subject to the final approval of the Toronto Stock Exchange (the TSX), the name changes and ticker symbol change is anticipated to be reflected on the TSX at the opening on, or about, June 18, 2025.

Additionally, Picton Mahoney announced that, effective today, the risk ratings for the funds in the attached table have changed.

There have been no changes made to the investment objectives, strategies or management of the foregoing funds associated with the changes to the fund names or new risk ratings.

The risk rating changes are based on the risk classification methodology mandated by the Canadian Securities Administrators to determine the risk level of mutual funds. Picton Mahoney reviews the risk rating for each of the funds it manages at least on an annual basis, as well as when a fund undergoes a material change. These changes are the result of the annual review and are not the result of any material changes to the funds.

About Picton Mahoney Asset Management

Picton Mahoney Asset Management specializes in differentiated investment solutions and rules-based volatility management. Picton Mahoney helps its clients fortify their portfolios based on experience honed over the years through different market cycles and investing environments.

Founded in 2004 and 100-per-cent employee-owned, Picton Mahoney is a portfolio management boutique entrusted with over $13.6-billion (as at March 31, 2025) in assets under management. Pioneers of Authentic Hedge investment principles and practices in Canada, the firm offers a full suite of investment solutions, including mutual and alternative funds, to institutional and retail investors across the country.