Big Banc Split Corp. Announces Class A Share Split

TORONTO, April 24, 2026 (GLOBE NEWSWIRE) -- (TSX: BNK, BNK.PR.A) Big Banc Split Corp. (“the “Fund”) is pleased to announce its intention to complete a stock split of its Class A shares (the “Share Split”) due to the strong performance of the Fund’s Class A shares. Class A shareholders of record at the close of business on May 1, 2026, will receive 20 additional Class A shares for every 100 Class A shares held. The Share Split is subject to the approval of the Toronto Stock Exchange (the “TSX”).

Following completion of the Share Split, the Class A shares are expected to begin trading on an ex-split basis at the opening of trading on May 4, 2026. No fractional Class A shares will be issued. Any fractional entitlement will be rounded down to the nearest whole Class A share. The Share Split applies only to the Class A shares. The preferred shares of the Fund (TSX: BNK.PR.A) will not be affected. 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 60% (based on the net asset value of the Class A shares used to determine the Share Split ratio).

Class A unitholders will continue to receive regular monthly non-cumulative cash distributions initially in the amount of $0.12 per Class A share ($1.44 per annum) following the Share Split. As a result, the total dollar amount of distributions to be paid to the holders of Class A shares is expected to increase by approximately 20%.

Since its inception on June 24, 2020, the Class A shares have delivered a 23.4% per annum total return based on net asset value, outperforming the S&P/TSX Composite Total Return Index by 6.2% per annum ⁽¹⁾.

Big Banc Split Corp. provides investors with exposure to an equally weighted portfolio of Canada’s ‘Big Six’ banks through Class A and Preferred shares issued by the corporation. The Fund may write covered calls on up to 30% of the portfolio to enhance income and reduce volatility. The Class A shares are intended to provide regular monthly cash distributions and the opportunity for capital appreciation. The preferred shares are intended to provide fixed cumulative preferential monthly cash distributions.

About Purpose Investments Inc.
Purpose Investments Inc. (“Purpose”) is the manager of the Fund. Purpose is an asset management company with more than $30 billion in assets under management. Purpose has an unrelenting focus on client-centric innovation and offers a range of managed and quantitative investment products. Purpose is led by well-known entrepreneur Som Seif and is a division of Purpose Unlimited, an independent technology-driven financial services company.  

⁽¹⁾ Big Banc Split Corp.

⁽²⁾ Inception Date: June 24, 2020

For more information, please contact:
Keera Hart
Keera.Hart@earnscliffe.ca
905-580-1257

The table shows the Fund’s compound return for each period indicated, compared with the S&P/TSX Composite Total Return Index (“Index”). The Index tracks the performance, on a market-weight basis and total return basis, of a broad index of large-capitalization issuers listed on the Toronto Stock Exchange (“TSX”). The Fund invests in an equally weighted portfolio of the 6 largest Canadian banks. The Fund’s performance is not expected to mirror that of the Index, which includes a substantially larger number of companies. Furthermore, the Index’s performance is calculated without the deduction of management fees, fund expenses and trading commissions, whereas the Fund’s performance is calculated after deducting such fees and expenses. The indicated rate of return of the Fund is the historical annual compounded total return including changes in share/unit value and reinvestment of all distributions and does not take into account sales, redemption, distribution or optional charges or income taxes payable by any securityholder that would have reduced returns. Additionally, the performance of the Class A shares is impacted by the leverage provided by the preferred shares. The performance information shown is based on net asset value per Class A share, or the redemption price per preferred share and assumes that cash distributions made by the Fund during the periods shown were reinvested at net asset value per Class A share, or the redemption price per preferred share in additional Class A shares and preferred shares of the Fund. Past performance does not necessarily indicate how the Fund will perform in the future.

You will usually pay brokerage fees to your dealer if you purchase or sell shares of the investment funds on the TSX or other market (an “exchange”). If the shares are purchased or sold on an exchange, investors may pay more than the current net asset value when buying shares of the investment fund and may receive less than the current net asset value when selling them.

There are ongoing fees and expenses associated with owning shares of an investment fund. An investment fund must prepare disclosure documents that contain key information about the fund. You can find more detailed information about the Fund in the public filings available at www.sedarplus.ca. The indicated rates of return are the 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. Investment funds are not guaranteed, their values change frequently, and past performance may not be repeated.

Certain statements in this document may be forward-looking. Forward-looking statements ("FLS") are statements that are predictive in nature, depend on or refer to future events or conditions, or include words such as "may," "will," "should," "could," "expect," "anticipate," "intend," "plan," "believe," "estimate" or other similar expressions. Statements that look forward in time or include anything other than historical information are subject to risks and uncertainties, and actual results, actions or events could differ materially from those set forth in the FLS. FLS are not guarantees of future performance and are, by their nature, based on numerous assumptions. Although the FLS contained in this document are based upon what Purpose Investments believes to be reasonable assumptions, Purpose Investments cannot assure that actual results will be consistent with these FLS. The reader is cautioned to consider the FLS carefully and not to place undue reliance on the FLS. Unless required by applicable law, it is not undertaken, and specifically disclaimed, that there is any intention or obligation to update or revise FLS, whether as a result of new information, future events or otherwise.

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