UNITED CORPORATIONS LIMITED ANNOUNCES INVESTMENT MANAGER CHANGE

TORONTO, Sept. 21, 2023 /CNW/ - United Corporations Limited (TSX: UNC) (TSX: UNC.PR.A) (TSX: UNC.PR.B) (TSX: UNC.PR.C) ("United") announces that it has appointed Neuberger Berman Canada ULC ("Neuberger Berman Canada"), an investment management firm headquartered in Toronto, to provide portfolio management services for a greater portion of its assets, replacing Harding Loevner LP. Neuberger Berman Canada will continue to provide investment portfolio management services to United through a global equities mandate which tracks the MSCI All Country World Index. The new mandate with Neuberger Berman Canada will focus on investing in global equities with a quality strategy.

Following the transition Neuberger Berman Canada will manage approximately 45% of United's investments on the transition date.

Neuberger Berman Canada is a business of Neuberger Berman. Neuberger Berman, founded in 1939, is a private, independent, employee-owned investment manager headquartered in New York. The firm manages a range of strategies including equity, fixed income, quantitative and multi-asset class, private equity, real estate and hedge funds on behalf of institutions, advisors and individual investors globally. With offices in 25 countries, Neuberger Berman's diverse team has over 2,400 professionals.

SOURCE United Corporations Limited

please contact: Scott Ewert, Vice-President, Telephone: [phone], Fax: [phone], www.ucorp.ca