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 January 31, 2024 was $56.94, resulting in year-to-date and 12-month NAV returns, with dividends reinvested, of 2.4% and 9.4%, respectively. These compare with the 0.6% and 4.6% 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 January 31, 2024, the leverage represented 14.7% of CGI’s net assets, down from 15.1% at the end of 2023 and up from 13.6% at January 31, 2023.

The closing price for CGI’s common shares at January 31, 2024 was $35.80, resulting in year-to-date and 12-month share price returns, with dividends reinvested, of 3.1% and 9.7%, respectively.

The sector weightings of CGI’s investment portfolio at market as of January 31, 2024 were as follows:

Industrials	24.1	%
Information Technology	21.2	%
Financials	13.5	%
Energy	12.1	%
Consumer Discretionary	10.7	%
Materials	10.3	%
Real Estate	4.6	%
Communication Services	1.9	%
Cash & Cash Equivalents	0.8	%
Consumer Staples	0.8	%

The top ten investments which comprised 37.7% of the investment portfolio at market as of January 31, 2024 were as follows:

NVIDIA Corporation	5.9	%
Canadian Pacific Kansas City Limited	4.6	%
TFI International Inc.	4.5	%
Apple Inc.	3.5	%
The Descartes Systems Group Inc.	3.5	%
WSP Global Inc.	3.4	%
West Fraser Timber Co. Ltd.	3.3	%
Mastercard Incorporated	3.2	%
Franco-Nevada Corporation	3.1	%
Shopify Inc.	2.7	%

FOR FURTHER INFORMATION PLEASE CONTACT: Jonathan A. Morgan President & CEO Phone: [phone] Fax: [phone] e-mail: [e-mail] website: www.canadiangeneralinvestments.ca