Harvest Portfolios Group Inc. (“Harvest”) is pleased to announce that Big Pharma Split Corp. (the “Company”) (TSX:PRM) (TSX:PRM.PR.A) will extend the maturity date of the Class A Shares and Preferred Shares of the Company (together, the “Shares”) from December 31, 2022 to December 31, 2027.

In connection with the extension, the Company may amend the rate of cumulative preferential quarterly cash distributions to be paid to the Preferred Shares and the distribution policy for the Class A Shares for the five-year renewal period, commencing January 1, 2023. Based on current market rates for preferred shares with similar terms, the fixed cumulative quarterly cash distributions will remain at $0.125 per Preferred Share ($0.50 per annum). The distribution policy for the Class A Shares is to pay monthly non-cumulative distributions to the holders of Class A Shares in the amount of $0.1031 per Class A Share and will remain the same, but the Company may pay a higher monthly distribution if, after payment of the distribution, the NAV per Unit would not be less than $23.50.

Holders of Preferred Shares have received a total of $2.4266 in distributions per Preferred Share since inception and holders of Class A Shares have received a total of $6.6958 in distributions per Class A Share since inception.

In relation to the maturity date extension, the Company has a non-concurrent retraction right for those shareholders not wishing to continue holding their investment, allowing existing shareholders to tender one or both classes of Shares and receive a retraction price based on the December 31, 2022 net asset value per unit. Shares must be surrendered for retraction by 5:00 p.m. on November 30, 2022. Alternatively, shareholders may sell their Shares for the market price at any time, or shareholders may take no action and continue to hold their Shares.

In addition, Harvest is pleased to announce that Mary Medeiros was appointed to the Board of Directors of the Company (the “Board”) effective September 27, 2022. Ms. Medeiros replaces Townsend Haines who retired from the Board on the same date.

Harvest is the manager and the portfolio manager of the Company.

For additional information: Please visit www.harvestportfolios.com, e-mail info@harvestportfolios.com or call toll free 1-866-998-8298.

About Harvest Portfolios Group Inc.

Founded in 2009, Harvest is an independent Canadian Investment Fund Manager managing $2.6 billion in assets for Canadian Investors. At Harvest ETFs, our guiding principles are premised on building wealth for our clients through ownership of strong businesses that have the potential to grow & generate steady income over time. Harvest ETFs offers an innovative suite of exchange traded funds, mutual funds and publicly-listed structured fund products designed to satisfy the long-term growth and income needs of investors. We pride ourselves in creating trusted investment solutions that meet the expectations of our investors.

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Forward-Looking Statements

Certain statements included in this press release constitute forward-looking statements. Forward-looking statements include statements that are predictive in nature, depend upon or refer to future events or conditions, or include words or expressions such as “believe”, “plan”, “expect”, “intend”, “target” or negative versions thereof and other similar expressions or future or conditional verbs such as “may”, “will”, “should”, “would” and “could” and similar expressions to the extent they relate to the Company or Harvest including information regarding the distribution targets on the Company’s shares. The forward-looking statements are not historical facts but reflect the expectations of the Company or Harvest regarding future results or events as at the date of this press release. Such forward-looking statements reflect the Company’s or Harvest’s current beliefs and are based on information currently available to them. Forward-looking statements involve significant risks and uncertainties. A number of factors could cause actual results or events to differ materially from current expectations. Some of these risks, uncertainties and other factors are described in the Current AIF under “Risk Factors”. Although the forward-looking statements contained in this Prospectus are based upon assumptions that the Company and Harvest believe to be reasonable, neither the Company nor Harvest can assure investors that actual results will be consistent with these forward-looking statements. The forward-looking statements contained herein were prepared for the purpose of providing investors with information about the Company and may not be appropriate for other purposes. Neither the Company nor Harvest assumes any obligation to update or revise them to reflect new events or circumstances, except as required by law.

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