On November 6, 2025, Partners Value Split Corp. has launched a public offering of 5,000,000 Class AA Preferred Shares, Series 17, raising US$125 million (approximately C$176.50 million). Each share is priced at US$25.00 and entitles holders to quarterly fixed cumulative preferential dividends of US$0.328125 per share, representing an annualized yield of 5.25%. The initial dividend, covering the period from closing (expected November 13, 2025) to February 28, 2026, is set at US$0.3884 per share. The Series 17 Preferred Shares are retractable at any time and will be redeemed on January 31, 2033, for the lesser of US$25.00 plus accrued dividends or the net asset value per unit. Net proceeds, estimated at US$120.92 million (C$170.78 million) after underwriters’ fees and expenses, will be used for distributions to the holder of the Capital Shares. The syndicate of underwriters includes Scotia Capital Inc., BMO Nesbitt Burns Inc., CIBC World Markets Inc., RBC Dominion Securities Inc., TD Securities Inc., National Bank Financial Inc., Desjardins Securities Inc., Canaccord Genuity Corp., iA Private Wealth Inc., Manulife Wealth Inc., and Raymond James Ltd.

Legal counsel for the company is Torys LLP, while Osler, Hoskin & Harcourt LLP acts for the underwriters. The Toronto Stock Exchange has conditionally approved the listing of the Series 17 Preferred Shares, subject to standard requirements. The shares have been provisionally rated Pfd-2 by DBRS Limited, indicating good credit quality.