Mr. John Germain reports

MULVIHILL PREMIUM YIELD FUND ANNOUNCES SEMI-ANNUAL RESULTS

Mulvihill Premium Yield Fund has released its results of operations for the period ended June 30, 2026. The increase in net assets attributable to holders of Class I units amounted to $1.05-million or 90 cents per Class I unit, the increase in net assets attributable to holders of Class F units amounted to $1.03-million or 91 cents per Class F unit, the increase in net assets attributable to holders of Class A units amounted to $570,000 or 78 cents per Class A unit, and the increase in net assets attributable to holders of ETF (exchange-traded fund) units amounted to $1.35-million or 83 cents per ETF unit. As at June 30, 2026, net assets attributable to holders of Class I units were $13.39-million or $11.43 per Class I unit; net assets attributable to holders of Class F units were $12.67-million or $11.44 per Class F unit; net assets attributable to holders of Class A units were $7.54-million or $10.46 per Class A unit; and net assets attributable to holders of ETF units were $18.62-million or $10.64 per ETF unit. Distributions paid to Class I units, Class F units, Class A units and ETF units were $475,361, $459,037, $294,416 and $667,400, respectively, representing a payment of 41 cents per Class I unit, 41 cents per Class F unit, 41 cents per Class A unit and 41 cents per ETF unit during the period.

The fund is a mutual fund investment trust that seeks to provide unitholders with: (i) high quarterly income on a tax efficient basis; (ii) long-term capital appreciation through investment in a portfolio of high-quality equity securities; and (iii) lower overall portfolio volatility. The fund writes options to seek to earn tax-efficient option premiums, reduce overall portfolio volatility and enhance the portfolio's total return.

The fund: (i) invests in an actively managed portfolio comprising securities from the S&P/TSX Composite Index and S&P 500 Index; and (ii) uses option writing strategies from time to time in response to market conditions to generate an enhanced tax-efficient yield. The fund is also permitted to invest in public investment funds, including exchange-traded funds and other Mulvihill funds (provided that no more than 15 per cent of the net asset value of the fund may be invested in securities of other funds managed by Mulvihill and provided there are no duplication of fees) that provide exposure to such securities. The fund uses a quantitative approach to select securities and will, from time to time employ various investment strategies, including the use of derivative instruments to generate income, reduce portfolio volatility and protect capital. The fund seeks to achieve a yield of 5 per cent, with additional capital growth potential beyond such yield target.

The fund's investment portfolio is managed by its investment manager, Mulvihill Capital Management Inc. The fund's ETF units are listed on Toronto Stock Exchange under the symbol MPY.