TSX:FFN (North American Financial 15 Split Corp.)

The investment objectives with respect to the Class A shares are as follows: 1. To provide holders of Class A shares with regular monthly cash distributions in an amount to be determined by the Board of Directors. The current policy is to pay holders of Class A shares monthly non-cumulative dividends of $0.11335. The net asset value per unit must remain above the required $15 per unit threshold for monthly distributions to be declared; and 2. To permit such holders to participate in all growth in the net asset value of the Company above $10 per unit, by paying such holders, on or about the termination date of December 1, 2024 (subject to further 5 year extensions thereafter), such amounts as remain in the Company after paying $10 per Preferred share North American Financial 15 Split Corp. invests primarily in a portfolio of common shares which will include each of the 15 financial services companies listed belowBank of Montreal Bank of America Corp.Bank of Nova Scotia Citigroup Inc.