Mr. Robert Taylor reports

CANOE EIT INCOME FUND ANNOUNCES 2023 VOLUNTARY CASH REDEMPTION

Canoe EIT Income Fund will make a 2023 voluntary cash redemption.

Voluntary annual cash redemption

The redemption date for the fund's annual voluntary cash redemption will be Dec. 8, 2023. Unitholders are entitled to redeem units of the fund at a price equal to 95 per cent of the average net asset value of the three trading days preceding the Dec. 8, 2023, redemption date, less direct costs. Direct costs are expected to be less than 1 per cent. If all redemption requests exceed 10 per cent of the aggregate outstanding units of the fund on Nov. 17, 2023, the final day to submit units for redemption, the fund will process redemptions to this maximum on a pro rata basis based on the total number of units tendered. Payment for units that have been tendered and accepted for redemption will be made on or before Jan. 3, 2024.

Unitholders wishing to redeem their units must provide notice of their intent to do so with their investment adviser or brokerage office no later than Nov. 17, 2023. Please note that investment firms may impose an earlier deadline to facilitate the processing of redemption requests. Unitholders are strongly urged to consult their investment adviser or brokerage office directly to confirm their internal deadlines. Registered unitholders (those who hold a physical share certificate in their name) should contact the fund's transfer agent, Alliance Trust Company, at 403-237-6111 to redeem their units. Units that have been submitted for redemption will remain eligible for the October, 2023, and November, 2023, distributions, which are paid in November, 2023, and December, 2023, respectively.

Please note that any redemption requests made by non-resident unitholders may be subject to withholding tax.

                                      KEY DATES
 
Oct. 10 to Nov. 17, 2023              Unitholders may tender units for redemption.
Dec. 5, Dec. 6 and Dec. 7, 2023       Redemption price determined based on average NAV 
                                      of these trading days
Dec. 8, 2023                          Redemption date                                                       
Jan. 3, 2024                          Payment of redemption proceeds on or before this date

About Canoe EIT Income Fund

Canoe EIT is one of Canada's largest closed-end investment funds, designed to maximize monthly distributions and capital appreciation by investing in a broadly diversified portfolio of high-quality securities. The fund is listed on the Toronto Stock Exchange under the symbol EIT.UN, and is actively managed by Robert Taylor, senior vice-president and chief investment officer, Canoe Financial.