CORRECTION — Life & Banc Split Corp. announces split of Class A shares and increase in aggregate distributions

Not for distribution to US news services or for distribution in the United States .

A press release distributed on October 6, 2025 contained a typographical error. The reference to “The Class A Shares are expected to trade on an ex-split basis at the opening of trading on October 28, 2025.” should have read: “The Class A Shares are expected to trade on an ex-split basis at the opening of trading on October 27, 2025.” No other changes have been made. The corrected release follows:

(TSX: LBS,OTC:LFBCF, LBS.PR.A) Life & Banc Split Corp. (the “Fund”) is pleased to announce its intention to complete a share split of its Class A shares (the “Share Split”) due to the strong performance of the Fund. Class A shareholders of record at the close of business on October 27, 2025 will receive an additional 10 Class A shares for every 100 Class A shares held, pursuant to the stock split. The stock split is subject to the approval of the Toronto Stock Exchange (the “TSX”).

Class A shareholders will continue to receive regular monthly cash distributions after the stock split, targeting $0.10 per Class A share. As a result, the total amount of distributions payable to Class A shareholders is expected to increase by approximately 10%. The Fund offers a distribution reinvestment plan, on a commission-free basis, for Class A shareholders who wish to reinvest distributions and realize the benefits of compound growth.

Over the past decade, its Class A shares have delivered a total return of 20.5% per year based on net asset value, outperforming the S&P/TSX Capped Financials Total Return Index by 6.8% per year and outperforming the S&P/TSX Composite Total Return Index by 8.7% per year. ^{( 1 )} Since inception, Class A shareholders have received cash distributions of $20.95 per share.

Following the completion of the stock split, the Fund’s preferred shares are expected to have downside protection against a decline in the value of the Fund’s portfolio of approximately 52%. ^{( 2 )}

Trading in Class A Shares is expected to occur ex-split at the opening of trading on October 27, 2025. No fractional shares of Class A Shares will be issued and the number of Class A Shares each holder will receive will be rounded down to the nearest whole number. The stock split is a non-taxable event.

The Fund invests on an approximately equally weighted basis in a portfolio consisting of common stocks of the six largest Canadian banks and the four largest publicly traded Canadian life insurance companies:

About Brompton Funds

Founded in 2000, Brompton is an experienced mutual fund manager with income and growth-oriented investment solutions, including exchange-traded funds (ETFs) and other TSX-traded mutual funds. For more information, contact your investment advisor, call Brompton’s investor relations line at 416-642-6000 (toll-free at 1-866-642-6001), email info@bromptongroup.com or visit our website at www.bromptongroup.com.

^{(1) See the table below for standard performance data.
(2) Based on the net asset value of the Class A shares used to determine the stock split ratio.}

The returns are for the periods ending September 30, 2025 and are unaudited. Effective October 17, 2006. The The table shows the Fund’s composite return on its Class A Shares for each period indicated, compared to the S&P/TSX Capped Financials Total Return Index (“Financials Index”) and the S&P/TSX Composite Total Return Index (“Composite Index”) (collectively, the “Indices”). The Financials Index is derived from the Composite Index, based on the financial sector of the Global Industry Classification Standard. The Composite Index tracks the performance, on a market weight and total return basis, of a broad index of large capitalization issuers listed on the TSX. The Fund is passively managed and consists of four Canadian life insurance companies and six Canadian banks with approximately equal weighting; therefore, the performance of the indices is not expected to reflect the performance of the indices, which have more diversified portfolios and include a significantly greater number of companies. In addition, the performance of the Indices is calculated net of management fees, fund expenses and trading commissions, while the performance of the Fund is calculated net of such fees and expenses. In addition, the performance of the Fund’s Class A shares is affected by the leverage provided by the Fund’s preferred shares. The performance information shown is based on the net asset value per Class A share and assumes that cash distributions made by the Fund during the periods indicated have been reinvested in additional Class A shares of the Fund at the net asset value per Class A share. Past performance does not necessarily indicate how the Fund will perform in the future.

You will normally pay brokerage fees to your dealer when you buy or sell mutual fund shares on the TSX or other alternative Canadian trading system (an “exchange”). When buying or selling shares on an exchange, investors may pay more than the current net asset value when purchasing shares of the mutual 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 a mutual fund. A mutual fund must prepare disclosure documents that contain important information about the fund. More detailed information about the fund can be found in the public filings available at www.sedarplus.ca. The returns indicated are the historical annual compounded total returns, including changes in share value and reinvestment of all distributions, and do not take into account certain fees such as redemption charges or income taxes payable by security holders that would have reduced returns. Mutual funds are not guaranteed, their values ​​change frequently and past performance may not be repeated.

Certain statements in this document constitute forward-looking information within the meaning of Canadian securities laws. Forward-looking information may relate to matters disclosed herein and other matters identified in public documents relating to the Fund, the Fund’s future prospects and anticipated events or results, and may include statements about the Fund’s future financial performance. In some cases, forward-looking information can be identified by the use of terms such as “may”, “will”, “should”, “expect”, “plan”, “anticipate”, “believe”, “intend”, “estimate”, “predict”, “potential”, “continue” or other similar expressions relating to matters that are not historical facts. Actual results may differ from such forward-looking information. Investors should not place undue reliance on forward-looking statements. These forward-looking statements are made as of the date hereof and we undertake no obligation to update or revise them to reflect new events or circumstances.

The securities offered have not been registered under the US Securities Act of 1933, as amended, and may not be offered or sold in the United States absent registration or any applicable exemption from registration requirements. This press release shall not constitute an offer to sell or the solicitation of an offer to buy any securities nor shall there be any sale of such securities in any state in which such offer, solicitation or sale would be unlawful.