Portfolio Update

Summary by AI ^BETAClose X

Canadian General Investments, Limited reported an unaudited net asset value per share of $80.66 as of December 31, 2025, achieving an 18.1% one-year NAV return with dividends reinvested, which lagged the S&P/TSX Composite Index's 31.7% total return. The company's leverage stood at 11.9% of net assets, a decrease from 13.8% at the end of 2024. The common share price return, with dividends reinvested, was 19.9% for the same period, with the share price closing at $47.25 on December 31, 2025. The investment portfolio was weighted towards Information Technology (20.5%), Industrials (19.6%), and Materials (16.3%), with top holdings including Celestica Inc. and NVIDIA Corporation.

Disclaimer*

Canadian General Investments Ld

06 January 2026

FOR: CANADIAN GENERAL INVESTMENTS, LIMITED

TSX: CGI

LONDON STOCK EXCHANGE: CGI

January 6, 2026

Canadian General Investments: Investment Update - Unaudited

TORONTO, CANADA - Canadian General Investments, Limited (CGI) reports on an unaudited basis that its net asset value per share (NAV) at December 31, 2025 was $80.66, resulting in a one-year NAV return, with dividends reinvested, of 18.1%. This compares with the 31.7% return of the benchmark S&P/TSX Composite Index on a total return basis for the same period.

The Company employs a leveraging strategy, by way of bank borrowing, with the intent to enhance returns to common shareholders. As at December 31, 2025, the leverage represented 11.9% of CGI's net assets, down from 13.8% at the end of 2024.

The closing price for CGI's common shares at December 31, 2025 was $47.25, resulting in an annual share price return, with dividends reinvested, of 19.9%.

The sector weightings of CGI's investment portfolio at market as of December 31, 2025 were as follows:

Information Technology	20.5%
Industrials	19.6%
Materials	16.3%
Energy	14.4%
Financials	14.1%
Consumer Discretionary	9.6%
Real Estate	3.4%
Communication Services	1.3%
Cash & Cash Equivalents	0.8%

The top ten investments which comprised 36.4% of the investment portfolio at market as of December 31, 2025 were as follows:

Celestica Inc.	4.7%
NVIDIA Corporation	4.5%
Franco-Nevada Corporation	4.4%
Shopify Inc.	3.7%
First Quantum Minerals Ltd.	3.5%
Dollarama Inc.	3.4%
WSP Global Inc.	3.1%
Canadian Pacific Kansas City Limited	3.1%
Royal Bank of Canada	3.0%
Cameco Corporation	3.0%

FOR FURTHER INFORMATION PLEASE CONTACT:

Jonathan A. Morgan

President & CEO

Phone: (416) 366-2931

Fax: (416) 366-2729

e-mail: info@canadiangeneralinvestments.ca

website: www.canadiangeneralinvestments.ca

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