Sagen MI Canada Inc. announced on May 19, 2023 that it would redeem all of its outstanding 4.242% debentures due April 1, 2024 (the "Debentures"), being $169.934 million aggregate principal amount, on June 19, 2023 (the "Redemption Date"). June 14, 2023, the Company has determined the redemption price according to the method and process outlined in the trust indenture governing the Debentures. Pursuant to the terms of the trust indenture governing the Debentures, the Debentures will be redeemed on the Redemption Date at a price equal to the greater of the "Canada Yield Price" and par, together in each case with accrued and unpaid interest to the Redemption Date.

The Canada Yield Price, calculated June 14, 2023 in accordance with the governing trust indenture, is approximately $991.70 per $1,000 of principal amount of Debentures. Accordingly, all of the outstanding Debentures will be redeemed on the Redemption Date at par, plus $9.18131504 per $1,000 of principal amount of Debentures for accrued and unpaid interest up to, but excluding, the Redemption Date of June 19, 2023. The aggregate redemption price payable by the Company on such date, including accrued and unpaid interest, is approximately $171,494,218.