Mr. Murray Oxby reports

CI GLOBAL ASSET MANAGEMENT ANNOUNCES SECURITYHOLDER APPROVAL OF FUND MERGERS

CI Global Asset Management (CI GAM) has received the required securityholder approval to proceed with the merger of six mutual funds and two ETFs (exchange-traded funds) into other mandates.

The mergers will be implemented after the close of business on or about April 4, 2025, except for the mergers of CI Canadian Core Plus Bond Fund and CI Global Equity & Income Fund, which will be implemented on or about May 2, 2025. The mergers were first announced on Nov. 18, 2024, and, for those requiring securityholder approval, were approved by securityholders at meetings held on March 19, 2025.

CI GAM is undertaking the mergers to streamline and modernize its product lineup and believes investors will benefit from continuing funds with larger net asset values that allow for increased portfolio diversification opportunities and a larger profile within the marketplace.

The mergers are listed in the attached tables.

The costs and expenses associated with the mergers are being borne by CI GAM, not the terminating funds and ETFs. In all cases, the combined management and administration fees with respect to each series of the continuing funds are the same as or lower than the combined management and administration fees that are currently payable by the corresponding series of the terminating funds and ETFs. None of the mergers will result in a change of portfolio management teams.

The mergers of CI Canadian Core Plus Bond Fund, CI Resource Opportunities Class, CI Short-Term Bond Fund, CI Bio-Revolution Index ETF and CI Short Term Government Bond Index ETF are to be effected on a taxable basis, resulting in a taxable disposition if the funds are held in a non-registered account. The other mergers will be effected on a non-taxable basis.

The independent review committee for the terminating funds and ETFs reviewed the mergers with respect to potential conflict of interest matters and provided a positive recommendation or its approval, as applicable, having determined that the mergers, if implemented, achieve a fair and reasonable result for each of the terminating funds and ETFs.

CI Alternative Investment Grade Credit Fund additional custodian appointments

CI Alternative Investment Grade Credit Fund has obtained exemptive relief, subject to certain conditions, to appoint more than one custodian, including prime brokers qualified under Section 6.2 of National Instrument 81-102. This includes meeting all other requirements in NI 81-102 Part 6 Custodianship of Portfolio Assets. TD Securities Inc. and BMO Nesbitt Burns Inc. have been appointed as additional custodians of the fund effective on March 20, 2025.

About CI Global Asset Management

CI Global Asset Management (CI GAM) is one of Canada's largest investment management companies. It offers a wide range of investment products and services and is on the Web. CI GAM is a subsidiary of CI Financial Corp., an integrated global asset and wealth management company with approximately $529.4-billion in total assets as at Dec. 31, 2024.

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