Premium Income Corporation launches ATM Program to raise up to $250 million

Premium Income Corporation (PIC), a Toronto-based investment fund, has announced the establishment of an at-the-market equity program (ATM Program) aimed at increasing the flexibility of its capital-raising efforts. The program, which is set to run until October 2, 2028, will enable the fund to issue shares to the public at its discretion, subject to market conditions.

Under the ATM Program, Class A Shares and Preferred Shares of the fund can be sold on the Toronto Stock Exchange (TSX) or other Canadian marketplaces where the shares are listed. Sales will be conducted through National Bank Financial Inc., acting as the agent, in accordance with the terms of an equity distribution agreement signed on September 3, 2026. The program is being offered pursuant to a prospectus supplement dated the same day, which builds upon the fund's existing short form base shelf prospectus, also dated September 3, 2026.

The ATM Program is designed to allow PIC to raise up to $250 million in gross proceeds through the issuance of shares. These funds will be utilized in line with the fund's investment objectives and strategies, subject to the investment restrictions in place.

This initiative is an update to a previous ATM program that was established in August 2024. The current program aims to provide PIC with greater flexibility and efficiency in managing its capital needs and enhancing its investment activities.

Premium Income Corporation invests primarily in the common shares of major Canadian banks, including Bank of Montreal, The Bank of Nova Scotia, Canadian Imperial Bank of Commerce, National Bank of Canada, Royal Bank of Canada, and The Toronto-Dominion Bank. Additionally, the fund may invest up to 10% of its net asset value in other securities, such as equity and fixed income securities, and in investment funds that provide exposure to such securities. Mulvihill Capital Management Inc., the fund's manager, oversees these investments.

It is important for potential investors to read these documents thoroughly before making any investment decisions. The fund's securities have not been registered under the U.S. Securities Act of 1933, as amended, and may not be offered or sold in the United States absent registration or any applicable exemption from the registration requirements.