Mr. Murray Oxby reports

CI GLOBAL ASSET MANAGEMENT COMPLETES 11 FUND MERGERS

CI Financial Corp.'s CI Global Asset Management (CI GAM) has completed the merger of 11 mutual funds into other mutual funds. CI GAM also confirmed it has implemented changes to the investment objectives, names and fees of the CI personal portfolios, which are now part of the CI Mosaic ETF Portfolios product suite.

The mergers and other changes were first announced on December 15, 2023, approved by securityholders at meetings held in March 2024 and were implemented after the close of business on April 12, 2024. The merger of CI Global Quality Dividend Managed Fund into CI Global Dividend Fund did not require the approval of securityholders. The changes reflect CI GAM's strategic initiative to modernize, enhance and streamline its product lineup.

Fund mergers

The following mergers (the "Mergers") have been completed:

Securityholders of each Terminating Fund have received the equivalent dollar value of securities in the corresponding series of the corresponding Continuing Fund as at April 12, 2024. Each Terminating Fund has now been terminated.

The Mergers were effected on a taxable basis, with the exception of the CI Asian Opportunities Fund and CI Global Quality Dividend Managed Fund Mergers, which were implemented on a tax-deferred basis.

Changes to the CI Personal Portfolios

Effective today, the CI Personal Portfolios have been repositioned as corporate class versions of the CI Mosaic ETF Portfolios, a family of asset allocation mutual funds that invest in ETFs to meet a range of investor profiles. The new investment objectives and names of each CI Personal Portfolio are listed below. The fund codes and risk ratings have not changed.

CI GAM has also reduced the combined management and administration fees payable by investors in the CI Personal Portfolios. The maximum reduction will be 32 basis points for CI Defensive Income Personal Portfolio, 39 basis points for CI Conservative Income Personal Portfolio and CI Balanced Income Personal Portfolio and 47 basis points for CI Growth & Income Personal Portfolio and CI Growth Personal Portfolio. CI Defensive Income Personal Portfolio has been renamed CI Mosaic Income ETF Portfolio Class. Its new investment objective is to provide a balance between income and capital growth, with a focus on capital preservation over the medium to long-term, by investing primarily in a diversified portfolio of fixed income and equity exchange-traded funds. CI Conservative Income Personal Portfolio has been renamed CI Mosaic Balanced Income ETF Portfolio Class. Its new investment objective is to provide a balance between income and long-term capital growth, with a bias towards income, by investing primarily in a diversified portfolio of fixed income and equity exchange-traded funds. CI Balanced Income Personal Portfolio has been renamed CI Mosaic Balanced ETF Portfolio Class. Its new investment objective is to provide a balance between income and long-term capital growth, by investing primarily in a diversified portfolio of equity and fixed income exchange-traded funds. CI Growth & Income Personal Portfolio has been renamed CI Mosaic Balanced Growth ETF Portfolio Class. Its new investment objective is to provide long-term capital growth, by investing primarily in a diversified portfolio of equity and fixed income exchange-traded funds. CI Growth Personal Portfolio has been renamed CI Mosaic Growth ETF Portfolio Class. Its new investment objective is to provide long-term capital growth, by investing primarily in a diversified portfolio of equity exchange-traded funds.

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 at www.ci.com. CI GAM is a subsidiary of CI Financial Corp. (TSX: CIX), an integrated global asset and wealth management company with approximately $465.9 billion in assets as at February 29, 2024.

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