Mr. Murray Oxby reports

CI GLOBAL ASSET MANAGEMENT ANNOUNCES TERMINATION OF CMVX AND COMPLETION OF FUND MERGERS

CI Financial Corp.'s CI Global Asset Management (CI GAM) has terminated CI Galaxy Metaverse Index ETF and completed the mergers of four mutual funds and two exchange-traded funds into other mandates.

CI Galaxy Metaverse Index termination

The previously announced termination of CI Galaxy Metaverse Index was effective today and followed the delisting of units from the Toronto Stock Exchange (TSX) at the close of business on April 4, 2025.

CI Galaxy Metaverse Index's final net asset value per unit was $28.2634. The net proceeds from the liquidation of CI Galaxy Metaverse Index's assets, less all liabilities and obligations attributable to such units, will be distributed to holders on a pro rata basis on or about April 8, 2025. CI Galaxy Metaverse Index did not pay a distribution as a result of its termination.

Fund mergers

CI GAM announced the merger of six mutual funds and two exchange-traded funds in November, 2024, and those proposals that required securityholder approval were approved at meetings in March, 2025. CI GAM undertook 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 costs and expenses associated with the mergers are being borne by CI GAM, not the terminating funds and ETFs.

Mutual fund mergers

The mergers outlined in an attached table were completed after the close of business on April 4, 2025. Securityholders of each terminating fund have received the equivalent dollar value of units in the corresponding mutual fund series of the continuing fund as at April 5, 2025. The terminating funds have now been terminated.

The mergers outlined in an attached table will be implemented on or about May 9, 2025.

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

ETF mergers

The mergers outlined in an attached table were completed after the close of business on April 4, 2025. These mergers were effected on a taxable basis.

Securityholders of each terminating ETF have received units of the corresponding continuing ETF based on the stated exchange ratio, as set out in an attached table, for each security of the terminating ETF held as at April 4, 2025.

No fractional units of the continuing ETF, or cash in lieu thereof, were issued or paid pursuant to the mergers. The total number of units of the continuing ETF issued to each terminating ETF or ETF series of each terminating fund is also set out in an attached table.

The terminating ETFs have now been terminated, and securities of the terminating ETFs were delisted from the TSX at the close of business on April 4, 2025.

Related distributions

The mergers resulted in the ETF series of certain mutual funds and ETFs paying distributions, as detailed in an attached table. The ETF and ETF series distributions were not paid in cash but have been reinvested and the resulting securities immediately consolidated so that the number of securities held by each investor has not changed. The distributions were reinvested on April 4, 2025, to securityholders of record on April 3, 2025.

We seek Safe Harbor.