An anonymous director reports

CITADEL INCOME FUND EXTENDS SPECIAL REDEMPTION EXPIRY DATE

Citadel Income Fund has extended the special redemption expiry date to redeem an aggregate of not less than 7,186,900 units of the fund at an amount per unit equal to the net asset value per unit less redemption costs equal to 4.5 per cent of the net asset value per unit plus applicable taxes (the special redemption).

The special redemption offer was originally set to conclude on Nov. 16, 2023, the new deadline for redemption is now Nov. 27, 2023.

In order to redeem their units, unitholders must deliver a redemption notice to their broker sufficiently in advance to ensure that such notice is then delivered to the fund's transfer agent by no later than 5 p.m. (Toronto time) on Nov. 27, 2023.

There are no further changes to the press release issued on Nov. 7, 2023.

The redemption date for the special redemption has been set for Dec. 7, 2023. If requests for redemptions exceed 7,186,900 units, then the units will be redeemed on a pro rata basis.

On or about Dec. 14, 2023, the fund will announce the special redemption price and the fund expects to pay the redemption proceeds to redeeming unitholders on or before Jan. 3, 2024.

Unitholders wishing to participate in either redemption should contact their brokers if they have any questions about how to provide a redemption notice.

We seek Safe Harbor.