CORRECTION FROM SOURCE: Life & Banc Split Corp. Announces Class a Share Split and an Increase to Total Distributions

(TSX:LBS) (TSX:LBS.PR.A) Life & Banc Split Corp. announced its intention to complete a stock split of its class A shares, granting class A shareholders of record at the close of business on November 11, 2026, 12 additional class A shares for every 100 class A shares held, effective November 12, 2026. The Share Split is subject to approval by the Toronto Stock Exchange. Following the Share Split, class A shareholders will continue to receive regular monthly cash distributions targeted at $0.10 per class A share. The total dollar amount of distributions to class A shareholders is expected to increase by approximately 12%. The Fund offers a distribution reinvestment plan for class A shareholders on a commission-free basis. Over the last 10 years, class A shares have delivered a 24.8% per annum total return based on net asset value, outperforming the S&P/TSX Capped Financials Total Return Index by 9.4% per annum and the S&P/TSX Composite Total Return Index by 12.4% per annum. Since inception, class A shareholders have received cash distributions of $22.15 per share. As of October 22, 2026, based on the most recently calculated net asset value per unit and adjusted for the Share Split, the preferred shares of the Fund are expected to have downside protection from a decline in the value of the Fund's portfolio of approximately 56%. The class A shares are expected to commence trading on an ex-split basis at the opening of trading on November 10, 2026. No fractional class A shares will be issued, and the number of class A shares each holder receives will be rounded down to the nearest whole number. The Share Split is a non-taxable event. The Fund invests on an approximately equally weighted basis in a portfolio consisting of common shares of the six largest Canadian banks and the four major publicly traded Canadian life insurance companies: Bank of Montreal, Great-West Lifeco Inc., National Bank of Canada, The Bank of Nova Scotia, Canadian Imperial Bank of Commerce, Royal Bank of Canada, iA Financial Corporation Inc., The Toronto-Dominion Bank, Sun Life Financial Inc., and Manulife Financial Corporation. Compound annual NAV returns to September 30, 2026, for class A shares were 73.7% (1 year), 63.6% (3 years), 32.3% (5 years), and 24.8% (10 years). The S&P/TSX Capped Financials Total Return Index returned 32.0% (1 year), 33.3% (3 years), 18.9% (5 years), and 15.4% (10 years). The S&P/TSX Composite Total Return Index returned 20.1% (1 year), 25.1% (3 years), 15.2% (5 years), and 12.4% (10 years). The inception date of the Fund is October 17, 2006. The Fund's performance is based on net asset value per class A share and assumes reinvestment of distributions. The Fund's performance is impacted by leverage from preferred shares and is calculated after deducting management fees, fund expenses, and trading commissions, unlike the indices. The Share Split is a non-taxable event for shareholders.

Life & Banc Split Corp. Announces Class A Share Split and an Increase to Total Distributions

(TSX:LBS) (TSX:LBS.PR.A) Life & Banc Split Corp. announced its intention to complete a stock split of its class A shares, granting class A shareholders of record at the close of business on November 11, 2026, 12 additional class A shares for every 100 class A shares held, effective November 12, 2026. The Share Split is subject to approval by the Toronto Stock Exchange. Following the Share Split, class A shareholders will continue to receive regular monthly cash distributions targeted at $0.10 per class A share. The total dollar amount of distributions to be paid to class A shareholders is expected to increase by approximately 12%. The Fund offers a distribution reinvestment plan on a commission-free basis for class A shareholders. Over the last 10 years, class A shares have delivered a 24.8% per annum total return based on net asset value, outperforming the S&P/TSX Capped Financials Total Return Index by 9.4% per annum and the S&P/TSX Composite Total Return Index by 12.4% per annum. Since inception, class A shareholders have received cash distributions of $22.15 per share. Based on the most recently calculated net asset value per unit of the Fund on October 22, 2026, as adjusted for the Share Split, the preferred shares of the Fund are expected to have downside protection from a decline in the value of the Fund's portfolio of approximately 56%. The class A shares are expected to commence trading on an ex-split basis at the opening of trading on November 11, 2026. No fractional class A shares will be issued, and the number of class A shares each holder receives will be rounded down to the nearest whole number. The Share Split is a non-taxable event. The Fund invests on an approximately equally weighted basis in a portfolio consisting of common shares of the six largest Canadian banks and the four major publicly traded Canadian life insurance companies: Bank of Montreal, Great-West Lifeco Inc., National Bank of Canada, The Bank of Nova Scotia, Canadian Imperial Bank of Commerce, Royal Bank of Canada, iA Financial Corporation Inc., The Toronto-Dominion Bank, Sun Life Financial Inc., and Manulife Financial Corporation. Compound annual NAV returns to September 30, 2026, for class A shares were 73.7% (1 year), 63.6% (3 years), 32.3% (5 years), and 24.8% (10 years). The S&P/TSX Capped Financials Total Return Index returned 32.0% (1 year), 33.3% (3 years), 18.9% (5 years), and 15.4% (10 years). The S&P/TSX Composite Total Return Index returned 20.1% (1 year), 25.1% (3 years), 15.2% (5 years), and 12.4% (10 years). The inception date of the Fund is October 17, 2006. The Fund's performance is calculated after deducting management fees, fund expenses, and trading commissions, and is impacted by the leverage provided by the Fund's preferred shares. The performance information is based on net asset value per class A share and assumes reinvestment of cash distributions at NAV per class A share. The Fund's portfolio is less diversified than the indices, which include a substantially larger number of companies. The indicated rates of return are historical annual compounded total returns including changes in share value and reinvestment of all distributions, and do not take into account certain fees such as redemption costs or income taxes payable by any securityholder that would have reduced returns.

Life & Banc Split Corp. Announces Class a Share Split and an Increase to Total Distributions

(TSX: LBS) (TSX: LBS.PR.A) Life & Banc Split Corp. announced its intention to complete a stock split of its class A shares, with class A shareholders of record at the close of business on June 25, 2026 to receive 12 additional class A shares for every 100 class A shares held. The Share Split is subject to the approval of the Toronto Stock Exchange. Class A shareholders will continue to receive regular monthly cash distributions targeted to be $0.10 per class A share following the Share Split, and the total dollar amount of distributions to be paid to class A shareholders is expected to increase by approximately 12%. Over the last 10 years, the class A shares have delivered a 23.6% per annum total return based on net asset value, outperforming the S&P/TSX Capped Financials Total Return Index by 8.4% per annum and the S&P/TSX Composite Total Return Index by 10.8% per annum. Since inception, class A shareholders have received cash distributions of $21.75 per share. Following the completion of the Share Split, the preferred shares of the Fund are expected to have downside protection from a decline in the value of the Fund's portfolio of approximately 57%. The class A shares are expected to commence trading on an ex-split basis at the opening of trading on June 25, 2026.

Life & Banc Split Corp. Completes Preferred Share Offering

Life & Banc Split Corp. (TSX: LBS, TSX: LBS.PR.A) announced the completion of a treasury offering of preferred shares for gross proceeds of approximately $76.4 million. The Preferred Shares were offered at a price of $10.50 per share to yield 6.9% and will trade on the Toronto Stock Exchange under the symbol LBS.PR.A. The Fund invests in a portfolio consisting of common shares of the six largest Canadian banks and four major publicly traded Canadian life insurance companies. Compound annual returns for the Preferred Shares to March 31, 2026, are reported as 7.4% (1-Yr), 7.1% (3-Yr), 6.5% (5-Yr), 5.8% (10-Yr), and 5.5% (since inception). The offering was led by a syndicate of agents including RBC Capital Markets, CIBC Capital Markets, National Bank Financial Inc., and Scotiabank.

Life & Banc Split Corp. Announces Successful Preferred Share Offering

Life & Banc Split Corp. (TSX: LBS, TSX: LBS.PR.A) announced a successful offering of preferred shares with gross proceeds expected to be approximately $76.4 million. The offering is expected to close on or about April 30, 2026, subject to certain closing conditions. Preferred Shares were offered at a price of $10.50 per share to yield 6.9%. The company has granted agents an over-allotment option of up to 15% of the number of Preferred Shares issued at closing. The Fund invests in common shares of the six largest Canadian banks and four major publicly traded Canadian life insurance companies.