PREMIUM GLOBAL INCOME SPLIT CORP. ANNOUNCES SUCCESSFUL OVERNIGHT OFFERING OF PREFERRED SHARES AND CLASS A SHARES

/NOT FOR DISTRIBUTION TO U.S. NEWSWIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES./

TORONTO, April 30, 2025 /CNW/ - (TSX: PGIC.PR.A) (TSX: PGIC) – Premium Global Income Split Corp. (the "Fund") is pleased to announce that it has completed the previously announced treasury offering of 2,100,000 Preferred Shares and 2,100,000 Class A Shares for gross proceeds of approximately $35,175,000. The Preferred Shares and Class A Shares will continue to trade on the Toronto Stock Exchange (the "TSX") under the existing symbols PGIC.PR.A and PGIC, respectively.

The Preferred Shares were offered at a price of $10.35 per Preferred Share and the Class A Shares were offered at a price of $6.40 per Class A Share.

The Fund invests in a diversified portfolio of primarily large capitalization global equity securities actively selected by the Manager. To generate additional returns above the dividend income earned on the Fund's portfolio, the Fund will selectively write covered call and put options in respect of some or all of the common shares in the Fund's portfolio. The manager and investment manager of the Fund is Mulvihill Capital Management Inc.

The Preferred Shares pay fixed cumulative preferential monthly cash distributions in the amount of $0.0625 per Preferred Share representing a yield of 7.50% on the original issue price of $10.00. The Class A Shares pay monthly cash distributions targeted to be 12% per annum based on the initial $8.00 net asset value per Class A Share.

The syndicate of agents for the offering was co-led by National Bank Financial Inc., CIBC Capital Markets, RBC Capital Markets and Scotiabank, and included BMO Nesbitt Burns Inc., TD Securities Inc., Hampton Securities Limited, Canaccord Genuity Corp., iA Private Wealth Inc., Raymond James Ltd., Richardson Wealth Limited and Wellington-Altus Private Wealth Inc.

John Germain, Senior Vice-President & CFO

A short form base shelf prospectus containing important detailed information about the securities being offered has been filed with securities commissions or similar authorities in each of the provinces of Canada. Copies of the short form base shelf prospectus may be obtained from a member of the syndicate. The Fund intends to file a supplement to the short form base shelf prospectus and investors should read the short form base shelf prospectus and the prospectus supplement before making an investment decision. There will not be any sale or any acceptance of an offer to buy the securities being offered until the prospectus supplement has been filed with the securities commissions or similar authorities in each of the provinces of Canada.

You will usually pay brokerage fees to your dealer if you purchase or sell shares of the investment fund on the TSX. If shares of the Fund are purchased or sold on the TSX, investors 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.

There are ongoing fees and expenses associated with owning shares of an investment fund. An investment fund must prepare disclosure documents that contain key information about the fund. You can find more detailed information about the investment fund in these documents. Investment funds are not guaranteed, their values change frequently and past performance may not be repeated.The securities offered 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. This news release does not constitute an offer to sell or the solicitation of an offer to buy securities nor will there be any sale of such securities in any state in which such offer, solicitation or sale would be unlawful.

SOURCE Premium Global Income Split Corp.

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.