An anonymous director reports

PARTNERS VALUE INVESTMENTS ANNOUNCES INITIAL PREFERRED DISTRIBUTIONS AND DIVIDEND RATE ON PREFERRED SHARES

Partners Value Investments LP and Partners Value Investments Inc. jointly declare the following expected initial distributions on the Class A preferred units, Series 1, 2, 3 and 4 of PVI LP and Class A preferred shares, Series 1 of PVII:

• Class A preferred units, Series 1, of PVI LP, 20.96 U.S. cents;

• Class A preferred units, Series 2, of PVI LP, 18.63 U.S. cents;

• Class A preferred units, Series 3, of PVI LP, 18.63 U.S. cents;

• Class A preferred units, Series 4, of PVI LP, 18.63 U.S. cents;

• Class A preferred shares, Series 1, of PVII, 0.38 U.S. cent.

Unitholders of PVI LP and shareholders of PVII of record at Dec. 29, 2023, will receive the distributions on Jan. 31, 2024. PVII also announces a correction to its articles of amendment dated Nov. 27, 2023. The dividend rate for the Class A preferred shares, Series 1, of PVII is 4 per cent per annum equal to one cent per preferred share each quarter, rather than four cents per preferred share each quarter. Holders of preferred shares are entitled to receive an annual dividend of four cents per preferred share payable quarterly. PVII intends to correct its articles of amendment, which will be filed on PVII's profile on SEDAR+. PVII expects trading in the preferred shares to resume by Dec. 15, 2023.

We seek Safe Harbor.