<img src="https://ml.globenewswire.com/Resource/Download/22055e2e-8c60-4e5a-9842-0d9461741275?size=2" nborder="0" align="left" hspace="5" vspace="5" title="premium logo.jpg" alt="Premium Income Corporation"/>Not for distribution to U.S. newswire services or for dissemination in the United States. TORONTO, May 14, 2026 (GLOBE NEWSWIRE) -- (TSX: PIC.PR.A) – Premium Income Corporation (the “Fund”) is pleased to announce that it has completed the previously announced treasury offering of 2,085,000 preferred shares (the “Preferred Shares”) for gross proceeds of $34,110,600. The Preferred Shares will trade on the Toronto Stock Exchange (the “TSX”) under the existing symbol PIC.PR.A. The Preferred Shares were offered at a price of $16.36 per Preferred Share. The Fund invests in a portfolio consisting principally of direct and/or indirect investments in common shares of 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 (collectively, the “Banks”) and may invest up to 10% of its net asset value in other securities such as equity securities, fixed income securities (including preferred shares) and investment funds that provide exposure to such securities (including investment funds managed by Mulvihill Capital Management Inc. (the “Manager”), the manager and investment manager of the Fund). The Preferred Shares pay fixed cumulative preferential monthly cash distributions in the amount of $0.10625 ($1.275 per annum) per Preferred Share representing a yield of 8.50% on the original issue price of $15.00. The syndicate of agents for the offering was led by National Bank Financial Inc. For further information, please contact Investor Relations at 416.681.3966, toll free at 1.800.725.7172, email at <a href="https://www.globenewswire.com/Tracker?data=lalI2i-re67XMsnFJkuAPaVxlETrkLk-Is-S0mRv87waXCASJ68gb-OfPoAX_zwKFk-J2nCWvdloq62aEE_uZXkmRjAxSbklPDZ9lrqwHjA=" rel="nofollow" target="_blank" title="info@mulvihill.com">info@mulvihill.com</a> or visit <a href="https://www.globenewswire.com/Tracker?data=lKRj4zOWgGft-21raqvwdA7ltxVwQw9QHWGshtz8MYy1dcdtaifcUd607i1kSH4CFBxq4eAaby5S1IeJkpPdW6AZUe-8p6BdT4zn9u8XR3Q=" rel="nofollow" target="_blank" title="www.mulvihill.com">www.mulvihill.com</a> <table style="border-collapse: collapse; width:100%; border-collapse:collapse ;"><tr><td style="vertical-align: top ; ">John Germain, Senior Vice-President &amp; CFO</td><td style="vertical-align: middle; text-align: left; padding-left: 30.0px; vertical-align: top ; ">Mulvihill Capital Management Inc. 25 King Street West Suite 2110 Toronto, Ontario, M5L 1A1</td></tr><tr><td> </td><td> </td></tr></table> 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. <img alt="" src='https://ml.globenewswire.com/media/ZWM0OTZjODYtZTk3OC00ZWMxLTg0ODgtMjEwYWJhNzE3YmI0LTExMDExMjAtMjAyNi0wNS0xNC1lbg==/tiny/Premium-Income-Corporation.png' referrerpolicy='no-referrer-when-downgrade' />

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Premium Income Corporation Announces Closing of Overnight Offering of Preferred Shares

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