Mr. Rick Skauge reports

OLYMPIA FINANCIAL GROUP INC. ANNOUNCES AUGUST DIVIDEND

Olympia Financial Group Inc.'s board of directors has declared a monthly cash dividend on its common shares of 45 cents per common share. The dividend will be payable on Aug. 31, 2023, to shareholders on record as at Aug. 22, 2023. The ex dividend date is Aug. 21, 2023.

Olympia Financial Group designates the entire amount of this taxable dividend to be an eligible dividend for purposes of the Income Tax Act (Canada), as amended from time to time. Please contact your tax adviser if you have any questions with regards to the designation of the eligible dividend.

About Olympia Financial Group Inc.

Olympia (OFGI) conducts most of its operations through its subsidiary Olympia Trust Company, a non-deposit-taking trust company. Olympia Trust is licensed to conduct trust activities in Alberta, British Columbia, Saskatchewan, Manitoba, Quebec, Newfoundland and Labrador, Prince Edward Island, New Brunswick, and Nova Scotia. Olympia Trust administers self-directed registered plan accounts, and provides currency exchange and payment services, corporate trust, and transfer agency services. OFGI also offers private health service plans and information technology services to exempt market dealers, registrants and issuers through its subsidiary Olympia Benefits Inc.

OFGI's common shares are listed on the Toronto Stock Exchange under the symbol OLY.