Mr. John Germain reports

PREMIUM GLOBAL INCOME SPLIT CORP. ANNOUNCES OVERNIGHT OFFERING

Premium Global Income Split Corp. is undertaking an overnight treasury offering of preferred shares and Class A shares.

The sales period for the overnight offering will end at 9 a.m. ET on April 23, 2025. The offering is expected to close on or about April 30, 2025, and is subject to certain conditions, including approval by the Toronto Stock Exchange. The preferred shares will be offered at a price of $10.35 per preferred share, representing a yield of 7.25 per cent and the Class A shares will be offered at an indicative price of $6.40 per Class A share to yield 15 per cent. The closing prices on the TSX for the preferred shares and Class A shares on April 22, 2025, were $10.59 and $6.98, respectively. The Class A share and preferred share offering prices were determined so as to be non-dilutive to the most recently calculated net asset value per unit of the fund (calculated as at April 17, 2025).

The fund invests in a diversified portfolio of primarily large capitalization global equity securities actively selected by its manager and investment manager, Mulvihill Capital Management Inc. To enhance the income generated by the fund's portfolio and to reduce volatility, the fund employs an active covered call writing strategy and may write cash-covered put options in respect of securities in which it is permitted to invest. The fund may also invest up to 100 per cent of its net assets in other public investment funds (including investment funds managed by Mulvihill). In addition, the fund is exposed to securities traded in foreign currencies and may, at Mulvihill's discretion, enter into currency hedging transactions to reduce the effects of changes in the value of foreign currencies relative to the value of the Canadian dollar.

The preferred shares pay fixed cumulative preferential monthly cash distributions in the amount of 6.25 cents (75 cents per annum) per preferred share, representing a yield of 7.50 per cent on the original issue price of $10. The Class A shares currently pay monthly distributions in the amount of eight cents (96 cents per annum) per Class A share.

The syndicate of agents for the offering is being co-led by National Bank Financial Inc., CIBC Capital Markets, RBC Capital Markets and Scotiabank.

We seek Safe Harbor.