Premium Global Income Split Corp. Announces Overnight Offering

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Not for distribution to U.S. newswire services or for dissemination in the United States.

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TORONTO, April 22, 2025 (GLOBE NEWSWIRE) — (TSX: PGIC; PGIC.PR.A) – Premium Global Income Split Corp. (the “Fund”) is pleased to announce it is undertaking an overnight treasury offering of Preferred Shares and Class A Shares.

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The sales period for the overnight offering will end at 9:00 am ET tomorrow, April 23, 2025. The offering is expected to close on or about April 30, 2025 and is subject to certain conditions including approval by the Toronto Stock Exchange (“TSX”). The Preferred Shares will be offered at a price of $10.35 per Preferred Share representing a yield of 7.25% and the Class A Shares will be offered at an indicative price of $6.40 per Class A Share to yield 15.00%. The closing prices on the TSX for the Preferred Shares and Class A Shares on April 22, 2025 were $10.59 and $6.98, respectively. The Class A Share and Preferred Share offering prices were determined so as to be non-dilutive to the most recently calculated net asset value per unit of the Fund (calculated as at April 17, 2025).

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The Fund invests in a diversified portfolio of primarily large capitalization global equity securities actively selected by its manager and investment manager, Mulvihill Capital Management Inc. (“Mulvihill”). To enhance the income generated by the Fund’s portfolio and to reduce volatility, the Fund employs an active covered call writing strategy and may write cash covered put options in respect of securities in which it is permitted to invest. The Fund may also invest up to 100% of its net assets in other public investment funds (including investment funds managed by Mulvihill). In addition, the Fund is exposed to securities traded in foreign currencies and may, at Mulvihill’s discretion, enter into currency hedging transactions to reduce the effects of changes in the value of foreign currencies relative to the value of the Canadian dollar.

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The Preferred Shares pay fixed cumulative preferential monthly cash distributions in the amount of $0.0625 ($0.75 per annum) per Preferred Share representing a yield of 7.50% on the original issue price of $10.00. The Class A Shares currently pay monthly distributions in the amount $0.08 ($0.96 per annum) per Class A Share.

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The syndicate of agents for the offering is being co-led by National Bank Financial Inc., CIBC Capital Markets, RBC Capital Markets and Scotiabank.

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For further information, please contact Investor Relations at 416.681.3966, toll free at 1.800.725.7172, email at [email protected] or visit www.mulvihill.com

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Certain statements included in this news release constitute forward-looking statements, including, but not limited to, those identified by the expressions “intend”, “will” and similar expressions to the extent they relate to the Fund. The forward-looking statements are not historical facts but reflect the Fund’s current expectations regarding future results or events. These forward-looking statements are subject to a number of risks and uncertainties that could cause actual results or events to differ materially from current expectations. Although the Fund believes that the assumptions inherent in the forward-looking statements are reasonable, forward-looking statements are not guarantees of future performance and, accordingly, readers are cautioned not to place undue reliance on such statements due to the inherent uncertainty therein. The Fund undertakes no obligation to update publicly or otherwise revise any forward-looking statement or information whether as a result of new information, future events or other such factors which affect this information, except as required by law.