An anonymous trustee reports

INTERNATIONAL CLEAN POWER DIVIDEND FUND APPROVES CONVERSION INTO INFRASTRUCTURE DIVIDEND SPLIT CORP.

International Clean Power Dividend Fund held a special meeting of unitholders today at which unitholders voted in favour of a resolution approving the previously announced merger of International Clean Power into Infrastructure Dividend Split Corp., a newly formed split share corporation. The merger is expected to be completed on May 4, 2024.

International Clean Power unitholders will receive Class A shares in the capital of Infrastructure Split (TSX: IS) in exchange for their units held immediately prior to the effective time of the merger, based on an exchange ratio that is equal to the net asset value of International Clean Power per unit determined as at the close of business on May 3, 2024, divided by $15.00. International Clean Power units will be delisted from the TSX at the end of business on May 7. Class A shares of Infrastructure Split will begin trading on the TSX at the opening of business on May 8 under the symbol IS. Unitholders of International Clean Power do not need to take any actions to receive their Class A shares of Infrastructure Split.

The initial target distribution yield for the Class A shares will be 10.0 per cent per annum based on the notional $15 issue price (or 12.5 cents per month or $1.50 per annum). Former unitholders of International Clean Power who wish to participate in the distribution reinvestment plan (the DRIP) of Infrastructure Split Class A shares will need to enroll in the Infrastructure Split's DRIP. The first distribution of Infrastructure Split Class A shares is not DRIP eligible and will be payable as shown in the attached table.

Infrastructure Split has been designed to provide investors with a diversified, actively managed portfolio comprising primarily dividend-paying securities of issuers operating in the infrastructure sector. The investment strategy of Infrastructure Split will be to initially invest in a portfolio of approximately 15 dividend-paying issuers operating in the infrastructure sector that Middlefield Capital Corp. (the adviser), the investment advisor of Infrastructure Split, believes offers investors the potential for both income through attractive dividend yields and capital appreciation and that it believes are undervalued and well positioned to benefit from the adviser's outlook for a gradual reduction in interest rates, the continuation of global decarbonization and favourable demographics (such as a growing middle class and urbanization).

The investment objectives for the Class A shares are to provide holders (together with holders of the preferred shares, the shareholders) with non-cumulative monthly cash distributions and to provide holders with the opportunity for capital appreciation through exposure to the portfolio (as defined herein).

Infrastructure Split has filed an amended and restated preliminary prospectus for the offering of preferred shares, which is expected to close on or about May 8, 2024. The preferred shares will be listed on the Toronto Stock Exchange under the symbol IS.PR.A. The preferred shares have been provisionally rated Pfd-3 (high) by DBRS Ltd.

The investment objectives for the preferred shares are to provide holders with fixed cumulative preferential quarterly cash distributions and to return $10.00 to holders on April 30, 2029 (the maturity date), subject to extension for successive terms of up to five years each as determined by the company's board of directors. The quarterly cash distribution until April 30, 2029, will be 18 cents per preferred share (72 cents per annum), representing a yield of 7.2 per cent per annum on the issue price of $10.00 per preferred share.

We seek Safe Harbor.