Canadian General Investments: Investment Update - Unaudited

Canadian General Investments, Limited (CGI) reports on an unaudited basis that its net asset value per share (NAV) at March 31, 2022 was $57.99, resulting in year-to-date and 12-month NAV returns, with dividends reinvested, of -5.1% and 12.8%, respectively. These compare with the 3.8% and 20.2% returns of the benchmark S&P/TSX Composite Index on a total return basis for the same periods.

The Company employs a leveraging strategy, by way of preference shares and bank borrowing, in an effort to enhance returns to common shareholders. As at March 31, 2022, the combined leverage afforded by both forms of leverage represented 14.5% of CGI’s net assets, up from 13.7% at the end of 2021 and down from 16.1% at March 31, 2021.

The closing price for CGI’s common shares at March 31, 2022 was $42.32, resulting in year-to-date and 12-month share price returns, with dividends reinvested, of -3.4% and 20.2%, respectively.

The sector weightings of CGI’s investment portfolio at market as of March 31, 2022 were as follows:

Materials	20.6%
Information Technology	20.2%
Industrials	19.8%
Financials	10.9%
Consumer Discretionary	10.7%
Energy	8.4%
Real Estate	4.9%
Communication Services	2.3%
Health Care	1.2%
Cash & Cash Equivalents	1.0%

The top ten investments which comprised 37.0% of the investment portfolio at market as of March 31, 2022 were as follows:

First Quantum Minerals Ltd.	5.6%
Canadian Pacific Railway Limited	4.3%
Franco-Nevada Corporation	4.2%
NVIDIA Corporation	4.1%
West Fraser Timber Co. Ltd.	3.8%
TFI International Inc.	3.4%
Apple Inc.	3.3%
Bank of Montreal	2.9%
WSP Global Inc.	2.8%
The Descartes Systems Group Inc.	2.6%

FOR FURTHER INFORMATION PLEASE CONTACT: Canadian General Investments, Limited Jonathan A. Morgan President and CEO Phone: [phone] Fax: [phone] e-mail: [e-mail] website: www.canadiangeneralinvestments.ca