Mr. John Germain reports

PREMIUM INCOME CORPORATION ANNOUNCES SEMI-ANNUAL RESULTS

Premium Income Corp. has released the results of operations for the six months ended April 30, 2026. Increase in net assets attributable to holders of Class A shares amounted to $69.8-million or $3.91 per Class A share. Net assets attributable to holders of Class A shares as at April 30, 2026, were $229.4-million or $12.39 per Class A share ($11.26 per Class A share after giving effect to the May, 2026, share split). Cash distributions of 64 cents per preferred share and 52 cents per Class A share were paid during the period.

Premium Income is a mutual fund corporation that invests in a portfolio consisting principally of direct and/or indirect investments in common shares of Bank of Montreal, Bank of Nova Scotia, Canadian Imperial Bank of Commerce, National Bank of Canada, Royal Bank of Canada and Toronto-Dominion Bank, and may invest up to 10 per cent of its net asset value in other securities such as equity securities, fixed income securities (including preferred shares) and investment funds that provide exposure to such securities (including investment funds managed by the manager).

The investment portfolio of the fund is managed by its investment manager, Mulvihill Capital Management Inc. The fund's preferred and Class A shares are listed on Toronto Stock Exchange under the symbols PIC.PR.A and PIC.A, respectively.