Mr. Rick Skauge reports

OLYMPIA FINANCIAL GROUP INC. ANNOUNCES 33% INCREASE TO MONTHLY CASH DIVIDEND

Olympia Financial Group Inc.'s board of directors has approved a 33.33-per-cent increase to its monthly cash dividend from 45 cents to 60 cents per common share, commencing with its September, 2023, monthly dividend. On an annualized basis, dividends on Olympia's common shares will increase by $1.80 from $5.40 to $7.20 per common share.

Olympia's dividend payments to holders of Olympia common shares are designated as eligible dividends for Canadian tax purposes.

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 Company 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, provides currency exchange and payment services, and 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.

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

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