Mr. Murray Oxby of CI reports

JFT STRATEGIES FUND RENEWS AT-THE-MARKET EQUITY PROGRAM

CI Global Asset Management (CI GAM) has noted that JFT Strategies Fund has renewed its at-the-market equity program (the ATM program). The ATM program allows the fund to issue Class A units of the fund having an aggregate sale price of up to $100-million, to the public from time to time, at the discretion of CI GAM. 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 (TSX) or any other marketplace in Canada on which the units are listed, quoted or otherwise traded. This ATM program replaces the prior at-the-market equity program of the fund, which commenced on Feb. 27, 2023, and expired on March 22, 2025.

The volume and timing of distributions under the ATM program, if any, will be determined at the manager's sole discretion. The ATM program will be effective until April 30, 2027, 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, CI GAM and Timelo Investment Management Inc., as portfolio manager of the fund, dated April 2, 2025, 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 April 2, 2025, to the fund's short-form base shelf prospectus dated March 31, 2025. 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 JFT Strategies Fund

The fund's investment objective is to maximize total return on investment to its holders while seeking to mitigate market risk and volatility by investing in an actively managed portfolio of long and short positions in any one or a combination of equities, debt securities or other securities. The fund will seek to generate positive returns by selecting what Timelo Investment Management Inc., the portfolio manager, believes to be superior quality investments for long positions and inferior quality investments for short positions. The fund's net exposure (long versus short) varies depending upon the portfolio manager's view of macroeconomic and other factors. The portfolio manager may also make selective use of derivatives and other securities in order to increase returns and/or mitigate the downside risk of one or more of the portfolio's investments.

The lead portfolio manager of the fund is Jean-Francois Tardif, CFA, president of Timelo. Mr. Tardif founded Timelo in 2011 to serve the needs of investors who were seeking an investment solution which provided an attractive risk-adjusted return while being uncorrelated with equity markets.

We seek Safe Harbor.