Mr. Dean Orrico reports

MIDDLEFIELD LAUNCHES ALTERNATIVE GLOBAL FIXED INCOME FUND

Middlefield has launched Middlefield Alternative Global Fixed Income Fund, available today in an ETF (exchange-traded fund) series (symbol MAGF) and mutual fund format. The fund is managed by Alexandre Cousineau, MSc, CFA, CAIA, head of fixed income at Middlefield. The fund is launching with a limited-time Founders Series, with a management fee of 0.25 per cent.

"Fixed income markets are increasingly global and interconnected, creating opportunities that extend well beyond traditional domestic bond portfolios," said Dean Orrico, president and chief executive officer of Middlefield. "Alexandre's extensive global fixed income experience has been instrumental in developing a strategy that broadens the opportunity set for investors across changing market environments."

Middlefield Alternative Global Fixed Income Fund is an actively managed, benchmark-agnostic strategy that invests across the global fixed income spectrum. The fund seeks to maximize total risk-adjusted returns to unitholders while generating income, with an emphasis on capital preservation. It may use long and short credit positions, derivatives, and leverage to pursue relative-value opportunities, actively manage duration and macroeconomic risks as conditions change, and access differentiated sources of return.

This launch marks another milestone for Middlefield as the firm continues to build out its fixed income platform. Under the leadership of Mr. Cousineau, the fund will also receive support from: Jack Boyd, principal, global fixed income; Gordon McKay, senior portfolio manager; Michael O'Donnell, portfolio manager; Karen Ko, investment strategist; and Sean Irvine, client portfolio manager.

About Alexandre Cousineau

Mr. Cousineau joined Middlefield in 2026 as head of fixed income. He has over 15 years of experience in active global fixed income portfolio management, credit trading and risk management. He most recently served as a vice-president and portfolio manager at Fiera Capital, where he managed multibillion-dollar mandates across investment-grade, high-yield, securitization and emerging market debt.

Mr. Cousineau is a CFA and CAIA charterholder with a bachelor's degree in actuarial mathematics and a master's degree in financial engineering.

About Middlefield

Founded in 1979, Middlefield is an income-focused asset manager with offices in Toronto, Canada, and London, England. Middlefield's investment team has developed a disciplined investment process over many years that seeks to identify attractive opportunities while evaluating the risks that impact returns. Its specialized suite of innovative investment solutions for both individual and institutional investors include exchange-traded funds trading in Canada, the United Kingdom, Italy and Germany, as well as Canadian mutual funds, split share corporations, closed-end funds and flow-through limited partnerships (LPs). Middlefield's core business currently includes seven income mandates: real estate, health care, innovation, infrastructure, energy, diversified income and fixed income, all of which incorporate Middlefield's focus on diversification across market sectors and companies that can generate growing levels of cash flows.

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