Mulvihill Capital Management Inc. Announces Approval of Proposed Merger of S Split Corp. and Top 10 Split Trust into Premium Global Income Split Corp.

TORONTO, Aug. 30, 2024 (GLOBE NEWSWIRE) — (TSX: SBN, SBN.PR.A, TXT.UN, TXT.PR.A PGIC and PGIC.PR.A) Mulvihill Capital Management Inc. (the “Manager”), the manager of S Split Corp. (“SBN”) and Top 10 Split Trust (“TXT”) is pleased to announce that holders of Class A Shares and Preferred Shares of SBN and holders Capital Units and Preferred Securities of TXT have approved a proposal to merge both SBN and TXT into Premium Global Income Split Corp. (“Premium Global”), all as more particularly described in the joint management information circular dated July 24, 2024 (the “Circular”), at a special meeting of the securityholders held earlier today.

The merger of TXT into Premium Global is expected to become effective on or about September 9, 2024 and the merger of SBN into Premium Global is expected to become effective on or about September 13, 2024.

Under the mergers, (a) holders of Class A Shares of SBN will become holders of Class A Shares of Premium Global, (b) holders of Preferred Shares of SBN will become holders of Class A Shares and a lesser number of Preferred Shares of Premium Global, (c) holders of Capital Units of TXT will become holders of Class A Shares of Premium Global, and (d) holders of Preferred Securities of TXT will become holders of Class A Shares and a lesser number of Preferred Shares of Premium Global. The number of shares of Premium Global to be issued to SBN and TXT securityholders will be announced once the exchange ratios have been determined, prior to implementation of the mergers.

For further information, please contact Investor Relations at 416.681.3966, toll free at 1-800-725-7172 or visit www.mulvihill.com.

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