An anonymous director reports

PARTNERS VALUE INVESTMENTS INC. ANNOUNCES ESTABLISHMENT OF NORMAL COURSE ISSUER BID

Partners Value Investments Inc., a subsidiary of Partners Value Investments LP, has received approval from the TSX Venture Exchange to commence normal course issuer bids to purchase up to 2,493,940 of its non-voting exchangeable shares, representing approximately 10 per cent of the public float of exchangeable shares. The period of the bid will be effective from Sept. 12, 2025, to Sept. 11, 2026, or such earlier date that the corporation completes its purchases.

Purchases by the corporation pursuant to the bid will be made by its broker, RBC Capital Markets, through the facilities of the exchange, other designated exchanges and alternative trading systems in Canada. The price that the corporation will pay for any exchangeable share purchased will be the market price of the exchangeable share at the time of acquisition. Any exchangeable shares acquired through the bid will be cancelled. As of Sept. 10, 2025, there were 27,870,970 exchangeable shares outstanding.

This is the corporation's first exchangeable share normal course issuer bid and therefore it has not made any purchases of its exchangeable shares. The corporation believes that, from time to time, the market price of its securities may not adequately reflect their value. In such circumstances, the corporation believes that its outstanding securities may represent an appropriate and desirable use of its available funds. All exchangeable shares acquired by the corporation under the bid will be cancelled.

In connection with the bid, the corporation entered into an automatic purchase plan with its designated broker, RBC Capital Markets. The automatic purchase plan will allow for the purchase of exchangeable shares when the corporation would not ordinarily be active in the market due to its own internal trading blackout periods, insider trading rules or otherwise. Outside of these periods, exchangeable shares will be repurchased in accordance with management's discretion and in compliance with applicable law.

We seek Safe Harbor.