An anonymous director reports

LIFE & BANC SPLIT CORP. ANNOUNCES PREFERRED SHARE OFFERING

Life & Banc Split Corp. is undertaking a treasury offering of preferred shares.

The sales period for this offering is expected to end on Thursday, April 23, 2026. The offering is expected to close on or about April 30, 2026, and is subject to certain closing conditions, including approval by the Toronto Stock Exchange.

The preferred shares will be offered at a price of $10.50 per preferred share to yield 6.9 per cent (1). The closing price on the TSX for the preferred shares on April 21, 2026, was $10.55. The offering is being led by RBC Capital Markets.

The investment objectives for the preferred shares are to provide holders with fixed cumulative preferential quarterly cash distributions, in the amount of 18.125 cents per preferred share (7.25 per cent per annum on the original $10 issue price), and to return the original issue price to holders of preferred shares on Oct. 30, 2028.

Purchasers of preferred shares in this offering will be eligible to receive the full June, 2026, quarterly dividend of 18.125 cents per preferred share when the dividend is declared. The fund has declared aggregate dividends on the preferred shares of $10.55 per preferred share, representing 78 consecutive quarterly dividends since inception on Oct. 17, 2006, to March 31, 2026.

Based on the most recently calculated net asset value per unit of the fund on April 16, 2026, adjusted for the April 20, 2026, stock split of the fund's Class A shares, the preferred shares have downside protection from a decline in the value of the fund's portfolio of approximately 56 per cent. The preferred shares are rated Pfd-3 by Morningstar DBRS.

The fund invests on an approximately equally weighted basis, in a portfolio consisting of common shares of the six largest Canadian banks and the four major publicly traded Canadian life insurance companies, as noted in the attached table.

About Brompton Funds

For over 25 years, Brompton has been providing unique, well-conceived investments for Canadians, with a focus on low management fees, performance driven diversification strategies, and attractive income and growth solutions for various market cycles.

A short form base shelf prospectus containing important detailed information about the securities being offered has been filed with securities commissions or similar authorities in each of the provinces and territories of Canada. Copies of the short form base shelf prospectus may be obtained from a member of the syndicate. The fund intends to file a supplement to the short form base shelf prospectus, and investors should read the short form base shelf prospectus and the prospectus supplement before making an investment decision. There will not be any sale or any acceptance of an offer to buy the securities being offered until the prospectus supplement has been filed with the securities commissions or similar authorities in each of the provinces and territories of Canada.

(1) Annualized yield on offer price. See the attached performance table.

We seek Safe Harbor.