Purpose Investments Inc. Completes Follow-on Offering of Units of Limited Duration Investment Grade Preferred Securities Fund

Limited Duration Investment GradePreferred Securities Fund (the “Fund”) completed its follow-on offering of anaggregate of 350,000 US dollar denominated Class U and Class V units (the“Units”) at a price of USD 25 per Unit (the “Offering”) for gross proceeds ofUSD 8.75 million. The Fund is a closed-end fund created to provide unitholderswith: (i) a stable stream of monthly distributions; (ii) to preserve the netasset value per Unit; and (iii) to reduce the risk of rising interest rates bymanaging portfolio duration. The Class U units of the Fund currently trade onthe Toronto Stock Exchange under the symbol PFD.U.

Along with its initial publicoffering of Canadian dollar denominated units in June 2013, the Fund has, inaggregate, raised approximately $100 million this year.

Purpose Investments Inc. (“Purpose”) is the manager and trustee of the Fundand Nuveen Asset Management, LLC is the portfolio advisor to the Fund. TDSecurities Inc., CIBC, RBC Capital Markets, National Bank Financial Inc. andScotiabank acted as co-lead agentson behalf of a syndicate of agents that also included BMO CapitalMarkets, Canaccord Genuity Corp., GMP Securities L.P., Macquarie Private WealthInc., Raymond James Ltd., Desjardins Securities Inc., Dundee Securities Ltd.,Mackie Research Capital Corporation, Manulife Securities Incorporated andRothenberg Capital Management Inc.

Wildeboer Dellelce LLP acted for Purpose and the Fund in connection withthe Offering with a team that included Perry Dellelce, Ronald Schwass, GeoffreyCher, Mack Hosseinian and Luigi Valente (corporate/securities) and Kevin Fritz(tax).