Peter Wall's trust management changes after his death

Vancouver, British Columbia, March 21, 2025 — The Peter Wall Alter Ego Trust (AET), the main shareholder of Wall Financial Corporation, announced changes following the death of Peter Wall earlier this month. The AET controls 54.15% of Wall Financial's shares, which totals 17,377,762 common shares. Following Peter Wall's passing, Oliver Borgers took over as Trustee Appointer and also appointed himself as the new Trustee of the AET. There are no changes in the number of shares held by the AET. However, Borgers now has control over the AET shares due to his new role. He also personally controls an additional 102,000 common shares, making up 0.32% of the total shares. The AET intends to transfer its shares to a new trust called the Peter Wall Legacy Trust at a later date. Borgers will also act as Trustee Appointer and Regular Trustee of this trust, along with two additional Voting Trustees. Peter Wall had previously expressed non-legally binding wishes to retain the AET shares in the Legacy Trust and to consider two major Wall Financial properties, the Shannon Mansion and Wall Centre Downtown, as legacy assets that should not be sold. The AET or Borgers may adjust their share ownership in Wall Financial based on market conditions and other opportunities.