This news release constitutes a “designated news release” for the purposes of the company’s prospectus supplement dated May 6, 2026 to its short form base shelf prospectus dated November 25, 2025.

TORONTO, Sept. 28, 2026 (GLOBE NEWSWIRE) -- (TSX: BNK, BNK.PR.A) Big Banc Split Corp. (the “Company”) is pleased to announce that the board of directors of the Company has approved an extension of the maturity date of the Company’s class A shares (the “Class A Shares”) and preferred shares (the “Preferred Shares”) for an additional 3-year term to November 30, 2029 (the “New Term”) and that the distribution rate for the Preferred Shares for the new term from November 29, 2026 to November 30, 2029 will be $0.75 per Preferred Share per annum, representing a 7.5% yield on the redemption price per Preferred Share of $10.00 (the “Preferred Share Distribution Rate”). Purpose Investments Inc. (“Purpose”) is the manager, portfolio manager and promoter of the Company and provides all administrative services required by the Company. The extension of the term of the Company is not a taxable event and enables shareholders to defer potential capital gains tax liability that would have otherwise been realized on the redemption of Class A Shares or Preferred Shares at the end of the term, until such time that shares are disposed of by shareholders.

The Company invests on an approximately equally weighted basis in a portfolio (the “Portfolio”) of equity securities (the “Portfolio Shares”) of the following publicly traded Canadian banks: Bank of Montreal, Canadian Imperial Bank of Commerce, National Bank of Canada, Royal Bank of Canada, The Bank of Nova Scotia and The Toronto-Dominion Bank. In order to seek to generate returns and enhance the Portfolio’s income, Purpose may write covered call options and cash-covered put options in respect of some or all of the Portfolio Shares held in the Portfolio.

In connection with the extension, holders of Class A Shares and Preferred Shares who do not wish to continue their investment in the Company will be able to retract their Preferred Shares or Class A Shares, as applicable, on November 30, 2026, pursuant to a special retraction right and receive a retraction price that is calculated in the same way that such price would be calculated if the Company were to terminate on November 30, 2026. Pursuant to this option, the retraction price may be less than the market price if the Class A Share or Preferred Share, as applicable, is trading at a premium to net asset value. To exercise this retraction right, shareholders must provide notice to their investment dealer by October 31, 2026 at 5:00 p.m. (Toronto time). Alternatively, shareholders may sell their Preferred Shares and/or Class A Shares through their securities dealer at the market price at any time, potentially at a higher price than would be achieved through retraction, or shareholders may take no action and continue to hold their Class A Shares or Preferred Shares.

About Purpose Investments Inc.
Purpose Investments is an asset management company with more than $33 billion in assets under management. Purpose Investments has an unrelenting focus on client-centric innovation and offers a range of managed and quantitative investment products. Purpose Investments is led by well-known entrepreneur Som Seif and is a division of Purpose Unlimited, an independent, technology-driven financial services company.

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

You will usually pay brokerage fees to your dealer if you purchase or sell shares of the investment funds on the Toronto Stock Exchange. If the securities are purchased or sold on the Toronto Stock Exchange or other market, you 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. Investment funds are not guaranteed, their values change frequently, and past performance may not be repeated.

Commissions, trailing commissions, management fees and expenses may all be associated with investment Fund investments. The prospectus contains important detailed information about the investment Fund. Please read the prospectus before investing. There is no assurance that any Fund will achieve its investment objective, and its net asset value, yield, and investment return will fluctuate from time to time with market conditions. Investment Fund securities are not covered by the Canada Deposit Insurance Corporation or by any other government deposit insurer. Investment Funds are not guaranteed, their values change frequently, and past performance may not be repeated.