An anonymous director reports

2028 INVESTMENT GRADE BOND TRUST LAUNCHES AT-THE-MARKET EQUITY PROGRAM

2028 Investment Grade Bond Trust is renewing its at-the-market (ATM) equity program. The ATM program allows the fund to issue Class F units of the fund, having an aggregate market price of up to $75-million, to the public from time to time, at the discretion of the manager. Any units issued under the ATM program will be sold at the prevailing market price at the time of sale through the Toronto Stock Exchange, or any other marketplace in Canada on which the units are listed, quoted or otherwise traded.

The volume and timing of distributions under the ATM program, if any, will be determined at the sole discretion of the manager, Next Edge Capital Corp. The ATM program will be effective until the earlier of: (a) July 10, 2028; and (b) the termination of the fund, unless terminated prior to such date by the fund. The fund intends to use the proceeds from the ATM program in accordance with the fund's investment objectives, investment strategies and investment restrictions.

Sales of the units through the ATM program will be made pursuant to the terms of an equity distribution agreement entered into by the fund, the manager and Ridgewood Capital Asset Management Inc., as adviser of the fund, dated June 26, 2026, with National Bank Financial Inc.

Sales of the units will be made by way of at-the-market distributions as defined in National Instrument 44-102, Shelf Distributions, on the TSX or on any marketplace for the units in Canada. Since the units will be distributed at prevailing market prices at the time of the sale, prices may vary among purchasers during the period of distribution. The ATM program is being offered pursuant to a prospectus supplement dated June 26, 2026, to the fund's short form base shelf prospectus dated June 10, 2026. Copies of the fund's prospectus supplement and short form base shelf prospectus, and the applicable equity distribution agreement, may be obtained from your registered financial adviser using the contact information for such adviser or from representatives of the agent, and are available on SEDAR+.

About Next Edge Capital Corp.

Next Edge is an investment fund manager and a leader in the structuring and distribution of alternative, private credit and value-added fund products in Canada. The firm is led by an experienced management team that has launched numerous investment solutions in a variety of product structures and has been responsible for raising over $3-billion of alternative assets since 2000 (1). Next Edge specializes and focuses on providing unique, non-correlated pooled investment vehicles to the Canadian marketplace.

(1) Please note that over $2-billion of the $3-billion of alternative assets raised relates to assets that were raised at a previous firm(s).

We seek Safe Harbor.