Canadian General Investments: Investment Update - Unaudited

Canadian General Investments, Limited (CGI) (TSX: CGI) (LSE: CGI) reports on an unaudited basis that its net asset value per share (NAV) at September 30, 2023 was $54.29, resulting in year-to-date and 12-month NAV returns, with dividends reinvested, of 14.0% and 22.1%, respectively. These compare with the 3.4% and 9.5% 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 bank borrowing, with the intent to enhance returns to common shareholders. As at September 30, 2023, the leverage represented 15.4% of CGI’s net assets, up from 14.9% at the end of 2022 and down from 15.9% at September 30, 2022.

The closing price for CGI’s common shares at September 30, 2023 was $35.63, resulting in year-to-date and 12-month share price returns, with dividends reinvested, of 11.6% and 23.1%, respectively.

The sector weightings of CGI’s investment portfolio at market as of September 30, 2023 were as follows:

	Information Technology	22.6	%
	Industrials	22.3	%
	Materials	15.7	%
	Energy	11.9	%
	Consumer Discretionary	11.2	%
	Financials	9.4	%
	Real Estate	4.4	%
	Communication Services	1.7	%
	Cash & Cash Equivalents	0.6	%
	Health Care	0.5	%

The top ten investments which comprised 41.3% of the investment portfolio at market as of September 30, 2023 were as follows:

	NVIDIA Corporation	6.9	%
	TFI International Inc.	4.7	%
	Canadian Pacific Kansas City Limited	4.4	%
	First Quantum Minerals Ltd.	4.4	%
	Franco-Nevada Corporation	4.0	%
	Apple Inc.	3.7	%
	West Fraser Timber Co. Ltd.	3.6	%
	WSP Global Inc.	3.4	%
	Mastercard Incorporated	3.2	%
	The Descartes Systems Group Inc.	3.0	%

FOR FURTHER INFORMATION PLEASE CONTACT:Jonathan A. MorganPresident & CEOPhone: [phone]Fax: [phone]e-mail: [e-mail]: www.canadiangeneralinvestments.ca