On May 1, 2026, Fonds de solidarité FTQ completed a C$100 million private placement subscription for a senior subordinated unsecured debenture issued at par by Fiera Capital Corporation (TSX: FSZ), a Montreal-based leading independent global asset management firm. The Debenture bears interest at 7.40 percent per annum, payable semi-annually in arrears, and will mature on April 30, 2031. The Debenture is redeemable, in whole or in part, at Fiera Capital's option before April 30, 2030 at the principal amount plus accrued and unpaid interest and a make-whole premium calculated in accordance with the terms of the Debenture, and on or after April 30, 2030 at par plus accrued and unpaid interest. Fiera Capital has the option to satisfy the redemption price or repay the principal amount at maturity, and to pay interest on each interest payment date, by issuing and delivering freely tradeable Class A subordinate voting shares; however, the Debenture is not convertible at the option of the holder. The Debenture ranks pari passu with Fiera Capital's 7.75 percent senior subordinated unsecured debentures due June 30, 2030. The private placement was completed concurrently with the redemption by Fiera Capital, at par, of its 6.00 percent senior subordinated unsecured debenture due June 30, 2027, in the principal amount of C$100 million, also previously issued to Fonds de solidarité FTQ in June 2022, effectively constituting a refinancing of that debenture at a rate and on a maturity more reflective of current credit market conditions while preserving the long-standing financing relationship between the two parties.