Mr. Robert Inglis reports

FIRST NATIONAL FINANCIAL CORPORATION UPDATE ON CEASING TO BE A REPORTING ISSUER

First National Financial Corp. is providing an update on its reporting issuer status in Canada.

The company filed applications for an order to cease being a reporting issuer under Canadian securities laws and an order under the Business Corporations Act (Ontario) that the company is deemed to have ceased to be offering its securities to the public following the redemption of its outstanding preferred shares earlier this year. On Oct. 23, 2025, the company issued, on a private placement basis in reliance on exemptions from the prospectus requirements under applicable Canadian securities laws, $250-million aggregate principal amount of 4.288 per cent senior Series 2025-1 notes due Oct. 23, 2028, $300-million aggregate principal amount of 4.891 per cent senior Series 2025-2 notes due Oct. 23, 2030, and $250-million aggregate principal amount of 5.443 per cent senior Series 2025-3 notes due Oct. 25, 2032. If the orders are granted, holders of senior notes are reminded that the senior notes may not be resold in Canada except in accordance with an exemption from the prospectus requirements under applicable securities laws, and the company will no longer be subject to continuous disclosure and other requirements applicable to reporting issuers in Canada. The company will continue to provide audited annual and unaudited interim financial statements to holders of senior notes in accordance with the terms of the senior notes. Holders of senior notes are advised to consult their own legal advisers for guidance on the resale restrictions that may apply if the company ceases to be a reporting issuer.

About First National Financial Corp.

First National Financial is the parent company of First National Financial LP, a Canadian-based originator, underwriter and servicer of predominantly prime residential (single-family and multiunit) and commercial mortgages. With more than $165-billion in mortgages under administration, First National is one of Canada's largest non-bank mortgage originators and underwriters, and is among the top three in market share in the mortgage broker distribution channel.

We seek Safe Harbor.