An anonymous director reports

WILMINGTON ANNOUNCES UPDATED DIVIDEND PAYMENT TIMING

The payment of Wilmington Capital Management Inc.'s previously announced special dividend of $2.75 per share is expected to be made on May 7, 2024. The special dividend will be paid in cash and the record date for the special dividend will remain March 18, 2024, as previously announced in order to preserve the economic entitlements of shareholders that have traded on an ex dividend basis. The payment of the special dividend is not conditional on any event, including the shareholder approval described below.

While Wilmington regrets the delay in the payment of the special dividend, it has determined that it is necessary and desirable to postpone the payment in order to allow the corporation to address shareholders' equity issues associated with the special dividend as initially declared. In particular, Wilmington anticipates seeking shareholder approval at its coming annual general and special meeting of shareholders to reduce the stated capital associated with its Class A and Class B shares by approximately $15-million or approximately $1.22 per share. The stated capital reduction will be made to facilitate the payment of the special dividend of $2.75. Wilmington continues to consider ways in which it may enhance shareholder value in the meantime. Further details will be provided in the corporation's management information circular that will be disseminated to shareholders prior to the annual general and special meeting.

About Wilmington Capital Management Inc.

Wilmington is a Canadian asset management company whose principal objective is to seek out investment opportunities in the alternative asset classes that provide shareholders with capital appreciation over the longer term as opposed to current income returns. Wilmington invests its own capital, alongside partners and co-investors, in hard assets and manages these assets through operating entities.

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