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 December 31, 2024 was $69.32, resulting in a one-year NAV return, with dividends reinvested, of 26.6%. This compares with the 21.6% 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, 2024, the leverage represented 13.8% of CGI’s net assets, down from 15.1% at the end of 2023.

The closing price for CGI’s common shares at December 31, 2023 was $40.48, resulting in an annual share price return, with dividends reinvested, of 19.6%.

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

Industrials	23.4	%
Information Technology	23.0	%
Financials	13.4	%
Energy	12.3	%
Materials	11.2	%
Consumer Discretionary	9.7	%
Real Estate	4.2	%
Cash & Cash Equivalents	2.1	%
Communication Services	0.7	%

The top ten investments which comprised 36.3% of the investment portfolio at market as of December 31, 2024 were as follows:

NVIDIA Corporation	4.5	%
TFI International Inc.	4.1	%
The Descartes Systems Group Inc.	4.0	%
Apple Inc.	3.8	%
Canadian Pacific Kansas City Limited	3.6	%
WSP Global Inc.	3.6	%
Mastercard Incorporated	3.3	%
Shopify Inc.	3.2	%
West Fraser Timber Co. Ltd.	3.2	%
Franco-Nevada Corporation	3.0	%

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