FC Firm Capital Mortgage Investment Corporation

Firm Capital Mortgage Investment Corporation (the “Corporation”) (TSX: FC, “FC.DB.H”, “FC.DB.I”, “FC.DB.J”, “FC.DB.K” and “FC.DB.L”) announced today that it has filed a preliminary short form base shelf prospectus with the securities regulatory authorities in all provinces of Canada that will, upon a receipt being issued for the Corporation’s (final) short form base shelf prospectus, allow the Corporation to offer and issue up to $250 million of common shares, preferred shares, debt securities, subscription receipts, warrants or units, or any combination of such securities, over a 25-month period. The preliminary short form base shelf prospectus has not yet become final for the purpose of the sale of securities. When securities covered by the (final) short form base shelf prospectus are offered for sale, a prospectus supplement containing terms of these securities will be filed.

No securities regulatory authority has either approved or disapproved of the contents of this news release. The securities covered by the base shelf prospectus have not been, and will not be, registered under the United States Securities Act of 1933, as amended, or any state securities laws, and may not be offered, sold or delivered, directly or indirectly, in the United States, its possessions and other areas subject to its jurisdiction or to, or for the account or for the benefit of a U.S. person, unless an exemption from registration is available. This news release is for information purposes only and does not constitute an offer to sell or a solicitation of an offer to buy any securities of the Corporation in any jurisdiction.

About The Corporation

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The Corporation, through its mortgage banker, Firm Capital Corporation, is a non-bank lender providing residential and commercial short-term bridge and conventional real estate financing, including construction, mezzanine and equity investments. The Corporation’s investment objective is the preservation of shareholders’ equity, while providing shareholders with a stable stream of monthly dividends from investments. The Corporation achieves its investment objectives through investments in selected niche markets that are under-serviced by large lending institutions. Lending activities to date continue to develop a diversified mortgage portfolio, producing a stable return to shareholders. The Corporation is a mortgage investment corporation (MIC) as defined in the Income Tax Act (Canada). Accordingly, the Corporation is not taxed on income provided that its taxable income is paid to its shareholders in the form of dividends within 90 days after December 31 each year. Such dividends are generally treated by shareholders as interest income, so that each shareholder is in the same position as if the mortgage investments made by the Corporation had been made directly by the shareholder. Full reports of the financial results of the Corporation for the year are outlined in the audited financial statements and the related management discussion and analysis of the Corporation, available on the SEDAR+ website at www.sedarplus.com. In addition, supplemental information is available on the Corporation website at www.firmcapital.com.

Forward-Looking Statements

This news release contains forward-looking statements within the meaning of applicable securities laws including, among others, statements associated with the potential issuance of securities of the Corporation, the type of securities that may be issued, the ability to satisfy regulatory, stock exchange and commercial closing conditions of an offering of securities, the uncertainty associated with accessing capital markets and the statements related to the Corporation’s business, including those contained in the Corporation’s Annual Information Form for the year ended December 31, 2023, as well as statements with respect to management’s beliefs, estimates, and intentions, and similar statements concerning anticipated future events, results, circumstances, performance or expectations that are not historical facts. Forward-looking statements generally can be identified by the use of forward-looking terminology such as “outlook”, “objective”, “may”, “will”, “expect”, “intent”, “estimate”, “anticipate”, “believe”, “should”, “plans” or “continue” or similar expressions suggesting future outcomes or events. Such forward-looking statements reflect management’s current beliefs and are based on information currently available to management.

These statements are not guarantees and are based on our estimates and assumptions that are subject to risks and uncertainties, including those described in the Corporation’s Annual Information Form for the year ended December 31, 2023 under “Risk Factors” (a copy of which can be obtained at www.sedarplus.com). Those risks and uncertainties include, among others, risks associated with public health crisis; liquidity and price fluctuation of our shares; dependence on the Corporation’s manager and the mortgage banker; potential conflicts of interest; dilution; no guaranteed return; credit risk; interest rate risk; environmental matters associated with our business; availability of investments; reliance on the directors; borrowing; limited sources of borrowing; risks related to the renewal of mortgages comprising our investment portfolio; risks related to the composition of our investment portfolio; subordinated and subsequent debt financing; investment risk for land mortgage investments; reliance on borrowers; litigation risks; ability to manage growth; change in legislation; cyber risk; our convertible debentures; and qualification as a mortgage investment corporation. Readers are cautioned that the foregoing list is not exhaustive. Material factors or assumptions that were applied in drawing a conclusion or making an estimate set out in the forward-looking information include, among others, adequate mortgage investment opportunities are presented to the Corporation, and adequate bank indebtedness and bank loans are available to the Corporation. Although the forward-looking information continued in this new release is based upon what management believes are reasonable assumptions, there can be no assurance that actual results and performance will be consistent with these forward-looking statements.

All forward-looking statements in this news release are qualified by these cautionary statements. Except as required by applicable law, the Corporation undertakes no obligation to publicly update or revise any forward-looking statement, whether as a result of new information, future events or otherwise.

For further information, please contact:Firm Capital Mortgage Investment CorporationEli DadouchPresident & Chief Executive Officer(416) 635-0221

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