PenderFund Capital Management Announces Unitholder Approval of Fee Changes

VANCOUVER, British Columbia, Nov. 21, 2025 (GLOBE NEWSWIRE) — PenderFund Capital Management Ltd. (“Pender“) is pleased to announce that, pursuant to a press release dated September 15, 2025, unitholders of the classes listed below have approved the proposed fee changes (“Fee changes“) to certain classes of their mutual funds (“Funds“) at special meetings held on November 21, 2025 (“MeetingsOnce implemented, the Fee Changes will result in lower or equivalent pre-tax management expense ratios for our investors.

Pender Bond Universe Foundation
Class A
Class F
Class F (USD)

Pender Corporate Bond Fund
Class F and Class I
Class F (USD) and Class I (USD)
Class H
Class U

Pender Global Small and Mid-Cap Equity Fund
Class F and Class I

Pender Small Cap Opportunity Fund
Class A
Class B
Class F
Class G
Class H
Class I
Class M
Class H

Pender Strategic Growth and Income Fund
Class F and Class I
Class H

Pender's Alternative Special Situations Fund
Class A

Class F and Class I

Pender Alternative Absolute Return Fund
AF class
Class F and Class I
Class F (USD) and Class I (USD)
FF class
Class H
Class H (USD)
Class H

Pender Alternative Arbitration Fund
AF class
Class F and Class I
Class F (USD) and Class I (USD)
FF class
Class H

Pender Alternative Arbitrage Plus Fund
Class F and Class I
Class F (USD)

Pender Alternative Multi-Strategy Income Fund
Class A
Class F and Class I

Pender expects the Fee Changes for the above classes to be implemented on or about December 5, 2025. Additional information regarding the fee changes is contained in the Management Information Circular dated October 20, 2025, which is available at: www.sedarplus.ca And https://penderfund.com/legal-financial/.

Unitholders of the classes listed below did not approve of the proposed fee changes. As a result, fee changes for these classes will not be implemented.

Pender Corporate Bond Fund
Class H
Class H (USD)

Pender Global Small and Mid-Cap Equity Fund
Class H

Class Closures
In addition to Pender's press releases dated September 15, 2025, October 1, 2025, and October 22, 2025, Pender is also announcing the discontinuation of certain classes of its funds (each, “Completion of classand in total “Class Closures“) on or about December 5, 2025, except for the classes listed below.

Pender Corporate Bond Fund
Class A
Class A (USD)

Pender Global Small and Mid-Cap Equity Fund
Class A

Pursuant to the Closing Classes, unless a holder of units of a Terminating Class elects to redeem its units, such units will be converted into units of another class of the same Fund. A notice of termination with additional information was mailed to unitholders of each class of termination. Notices of termination are also available on Pender's website at: https://penderfund.com/legal-financial/.

The above changes will be reflected in the upcoming amendment to the simplified prospectus of the Pender Funds, which will be available on www.sedarplus.ca And https://penderfund.com/legal-financial/.

Unitholders can contact Pender with any questions or if they need assistance by contacting Pender at 1-866-377-4743 or [email protected].

About PenderFund Capital Management Ltd.
Pender was founded in 2003 and is an independent, employee-owned investment firm located in Vancouver, British Columbia. Our goal is to protect and grow the wealth of our investors over time. We have a talented investment team of expert analysts, stock pickers and independent thinkers who actively manage a portfolio of differentiated investment funds, leveraging underperforming parts of the investment universe to achieve our goal.

Please visit www.penderfund.com.

Please read important information at www.penderfund.com/disclaimer.

For more information contact:
Melanie Moore
Vice President of Marketing PenderFund Capital Management Ltd.
[email protected]
(604) 688-1511
Toll free: (866) 377-4743.

Forward-looking information
This press release contains certain “forward-looking statements” within the meaning of such statements under applicable securities laws. Forward-looking statements are often characterized by words such as “expect,” “anticipate,” or “intend” and other similar words, or statements that certain events or conditions “may” or “will occur.” Forward-looking statements in this press release include, but are not limited to, statements regarding changes in fees and class closures and the timing thereof and the filing of related amendments to the simplified prospectus., and the timing of it. These statements are only predictions. Forward-looking statements are based on manager's opinions and estimates as of the date they are made and are subject to a variety of risks, uncertainties and other factors that could cause actual events or results to differ materially from those projected in the forward-looking statements.

In making forward-looking statements in this press release, Pender has made several significant assumptions, including, but not limited to, current and future social, economic and political conditions. Although Pender has attempted to identify important factors that could cause actual results to differ materially from those contained in forward-looking statements or forward-looking information, there may be other factors that could cause results not to be as expected, estimated or intended.

There can be no assurance that such statements will prove to be accurate, as actual results and future events could differ materially from those expressed or implied by such statements. Accordingly, readers should not place undue reliance on forward-looking statements and forward-looking information. Readers are cautioned that use of such information may not be appropriate for other purposes. Pender does not undertake to update any forward-looking statements, forward-looking information or financial projections incorporated herein by reference except as required by applicable securities laws. Readers are encouraged to review the Funds' continuous disclosure documents filed with securities regulatory authorities in certain Canadian provinces and available at: www.sedarplus.ca.

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