Harvest Portfolios Group Inc. Establishes At-The-Market Equity Program for Big Pharma Split Corp.

OAKVILLE, Ontario – (BUSINESS WIRE) | (FRENCH) – Harvest Portfolios Group Inc. (“Harvest”) is pleased to announce that Big Pharma Split Corp. (the “Company”) (TSX:PRM) (TSX:PRM.PR.A) has established an at-the-market equity program (“ATM Program”) that allows the Company to issue up to $75,000,000 of each of the Preferred Shares and the Class A Shares of the Company (together, the “Shares”) to the public from time to time, at the discretion of Harvest. Any Shares sold in the ATM Program will be sold through the Toronto Stock Exchange (the “TSX”) or any other marketplace in Canada on which the Shares are listed, quoted or otherwise traded at the prevailing market price at the time of sale. This ATM Program replaces the prior program established in June 2021 that has terminated in accordance with its terms.

The volume and timing of the distributions under the ATM Program, if any, will be determined at Harvest’s sole discretion. The ATM Program will be effective until January 6, 2025, unless terminated prior to such date by the Company. The Company intends to use the proceeds from the ATM Program in accordance with the investment objectives and strategies of the Company to invest in an equally-weighted portfolio of ten issuers comprised of equity securities selected by Harvest from a universe of pharmaceutical issuers. In order to seek to generate additional returns, Harvest may write call options each month in respect to some or all of the equity securities in the Portfolio.

Sales of the Shares through the ATM Program will be made pursuant to the terms of an equity distribution agreement dated December 7, 2022 (the “Equity Distribution Agreement”) with National Bank Financial Inc. (the “Agent”).

Sales of the Shares will be made by way of “at-the-market distributions” as defined in National Instrument 44-102 Shelf Distributions on the TSX or on any marketplace for the Shares in Canada. Since the Shares will be distributed at the prevailing market prices at the time of the sale, prices may vary among purchasers during the time of distribution. The ATM Program is being offered pursuant to a prospectus supplement dated December 7, 2022 to the Company’s short form base shelf prospectus dated December 5, 2022. Copies of the prospectus supplement and the short form base shelf prospectus may be obtained from your registered financial advisor or from representatives of the Agent and are available on SEDAR at www.sedar.com.

The investment objectives for the Preferred Shares (TSX:PRM.PR.A) are to provide their holders with fixed cumulative preferential quarterly cash distributions in the amount of $0.125 per Preferred Share ($0.50 per annum) until December 31, 2027 (the “Maturity Date”) and to return of the original issue price to holders on the Maturity Date.

The investment objectives for the Class A Shares (TSX:PRM) are to provide their holders with regular monthly cash distributions targeted to be $0.1031 per Class A Share ($1.2372 per annum) and with the opportunity for growth in net asset value per Class A Share.

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

For additional information: Please visit www.harvestportfolios.com, e-mail [email protected] or call toll free 1-866-998-8298.

About Harvest ETFs

Founded in 2009, Harvest is an independent Canadian Investment Fund Manager managing $2.9 billion in assets for Canadian Investors. Harvest 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.