First National Announces Results of Conversion Privileges For Class A Preference Shares, Series 1 And Series 2

TORONTO, March 19, 2021 /CNW/ - First National Financial Corporation ("First National") (TSX: FN) (TSX: FN.PR.A) (TSX: FN.PR.B) today announced that 399,700 of its outstanding cumulative 5-year rate reset Class A Preference Shares, Series 1 ("Series 1 Preference Shares") were tendered for conversion, on a one-for-one basis, into cumulative floating rate Class A Preference Shares, Series 2 ("Series 2 Preference Shares"). The Company also announced that 497,388 of its outstanding Series 2 Preference Shares were tendered for conversion, on a one-for-one basis, into Series 1 Preference Shares.

After both conversions, effective April 1, 2021, the Company will have 2,984,835 Series 1 Preference Shares and 1,015,165 Series 2 Preference Shares outstanding and issued. The Series 1 Preference Shares will continue to be listed on the Toronto Stock Exchange ("TSX") under the symbol FN.PR.A and the Series 2 Preference Shares will continue to be listed on the TSX under the symbol FN.PR.B.

About First National Financial Corporation

First National Financial Corporation (TSX: FN, TSX: FN.PR.A, TSX:FN.PR.B) is the parent company of First National Financial LP, a Canadian-based originator, underwriter and servicer of predominantly prime residential (single-family and multi-unit) and commercial mortgages. With more than $118 billion in mortgages under administration, First National is Canada's largest non-bank originator and underwriter of mortgages and is among the top three in market share in the mortgage broker distribution channel.  For more information, please visit www.firstnational.ca.

SOURCE First National Financial Corporation

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