Mr. Jonathan Morgan reports

CANADIAN GENERAL INVESTMENTS: INVESTMENT UPDATE - UNAUDITED

On an unaudited basis, Canadian General Investments Ltd.'s net asset value per share at June 30, 2026, was $86.97 resulting in year-to-date and 12-month NAV returns, with dividends reinvested, of 8.6 per cent and 25.3 per cent, respectively. These compare with the 11.2-per-cent and 32.9-per-cent returns of the benchmark S&P/TSX Composite Index on a total return basis for the same periods.

The company employs a leveraging strategy, by way of bank borrowing, with the intent to enhance returns to common shareholders. As at June 30, 2026, the leverage represented 12.4 per cent of Canadian General's net assets, up from 11.9 per cent at the end of 2025 and down from 13.6 per cent at June 30, 2025.

The closing price for Canadian General's common shares at June 30, 2026, was $52.59, resulting in year-to-date and 12-month share price returns, with dividends reinvested, of 12.6 per cent and 38.2 per cent, respectively.

The sector weightings of Canadian General's investment portfolio at market as of June 30, 2026, were as follows.

The top-10 investments which comprised 38.6 per cent of the investment portfolio at market as of June 30, 2026, were as follows.