Mr. Jonathan Morgan reports

CANADIAN GENERAL INVESTMENTS: INVESTMENT UPDATE - UNAUDITED

On an unaudited basis, Canadian General Investments Ltd.'s net asset value per share (NAV) at Oct. 31, 2024, was $66.42 resulting in year-to-date and 12-month NAV returns, with dividends reinvested, of 20.9 per cent and 33.5 per cent, respectively. These compare with the 18.2-per-cent and 32.1-per-cent returns of the benchmark S&P/TSX Composite Index on a total return basis for the same periods.

The company employs a leveraging strategy, by way of bank borrowing, with the intent to enhance returns to common shareholders. As at Oct. 31, 2024, the leverage represented 14.4 per cent of Canadian General's net assets, down from 15.1 per cent at the end of 2023 and 16.6 per cent at Oct. 31, 2023.

The closing price for Canadian General Investments' common shares at Oct. 31, 2024, was $39.75, resulting in year-to-date and 12-month share price returns, with dividends reinvested, of 16.8 per cent and 25.3 per cent, respectively.

The sector weightings of Canadian General Investments' investment portfolio at market as of Oct. 31, 2024, were as shown in the attached table.

The top 10 investments which comprised 39.3 per cent of the investment portfolio at market as of Oct. 31, 2024, were as shown in the attached table.