PFIA Picton Mahoney Fortified Alternative Fund

Picton Mahoney Asset Management (“Picton Mahoney”), the manager of the Picton Mahoney Fortified Income Alternative Fund (the “Fund”) (TSX: PFIA), announced that effective today, the risk rating of the Fund has decreased to “Low” from “Low-to-Medium”. There are no changes to the investment objectives, strategies or management of the Fund associated with the new risk rating.

The risk rating change is based on the risk classification methodology mandated by the Canadian Securities Administrators to determine the risk level of mutual funds. Picton Mahoney reviews the risk rating for each of the funds it manages at least on an annual basis, as well as when a fund undergoes a material change. These changes are the result of an annual review and are not the result of any changes to the investment objectives, strategies or management of the funds.

To learn more about Picton Mahoney’s full suite of funds, visit www.pictonmahoney.com.

About Picton MahoneyPicton Mahoney Asset Management specializes in differentiated investment solutions and rules-based volatility management. Picton Mahoney helps its clients fortify their portfolios based on experience honed over the years through different market cycles and investing environments.

Founded in 2004 and 100% employee owned, Picton Mahoney is a portfolio management boutique entrusted with over CAD $9.2 billion (as at March 31, 2023) in assets under management. Pioneers of Authentic Hedge® investment principles and practices in Canada, the firm offers a full suite of investment solutions, including mutual and alternative funds, to institutional and retail investors across the country.

Commissions, trailing commissions, management fees, performance fees and expenses all may be associated with mutual fund investments. Please read the prospectus before investing. Mutual funds are not guaranteed, their values change frequently, and past performance may not be repeated. Alternative mutual funds can only be purchased through a registered dealer and are available only in those jurisdictions where they may be lawfully offered for sale.

For further information: Phil Clark, Head of Marketing, Picton Mahoney Asset ManagementTel: (416) 955-4462Email: service@pictonmahoney.comWebsite: www.pictonmahoney.com