Life & Banc Split Corp. Renews At-the-Market Equity Program

Executive Summary

• Life & Banc Split Corp. announced the renewal of its at‑the‑market (ATM) equity program, allowing issuance of Class A and Preferred Shares up to $250 million each.
• The ATM program will run until 12 Feb 2028 and is governed by an Equity Distribution Agreement with RBC Capital Markets.
• Proceeds will be used to fund the Fund’s investment objectives in Canadian banks and life‑insurance companies, supporting its growth strategy.

Key Details

• Program Scope: Replacement of the prior ATM program (Jan 2024) with a new program effective 13 Jan 2026 – 12 Feb 2028.
• Securities Offered: Class A Shares and Preferred Shares (Class A & Preferred).
• Maximum Gross Proceeds: Up to $250 million for each share class.
• Distribution Mechanism: Sales on the Toronto Stock Exchange or any Canadian marketplace where the shares are listed, at prevailing market prices per National Instrument 44‑102 Shelf Distributions.
• Equity Distribution Agreement: Dated 12 Jan 2026 with RBC Capital Markets (Agent).
• Use of Proceeds: To be applied in accordance with the Fund’s investment objectives and strategies, i.e., investing in a portfolio of six major Canadian banks and four leading life‑insurance companies.
• Investment Objectives – Class A Shares: Target regular monthly cash distribution of $0.10 per share; growth potential in NAV. Historical 10‑yr total return: 22.2% p.a., outperforming relevant TSX indices.
• Investment Objectives – Preferred Shares: Fixed cumulative quarterly cash distribution of $0.18125 per share (7.25% p.a. on $10 issue price); redemption at original issue price on 30 Oct 2028; historical 10‑yr return: 5.8% p.a.; downside protection ~57%.
• Prospectus Documentation: Prospectus supplement dated 12 Jan 2026 to the Fund’s short‑form base shelf prospectus (also dated 12 Jan 2026); available on SEDAR+.

Notable Quotes

(No direct CEO/President quotes were included in the release.)