Mr. Richard Usher-Jones reports

LYSANDER ESTABLISHES AUTOMATIC SECURITIES DISPOSITION PLAN IN UNITS OF CANSO CREDIT INCOME FUND

Lysander Funds Ltd. today has established an automatic securities disposition plan (ASDP) with respect to its holdings of Class A units of Canso Credit Income Fund, in accordance with applicable Canadian securities legislation and Lysander's internal policies. Class A units of CCIF are listed and traded on the Toronto Stock Exchange (TSX) (TSX ticker: PBY.UN). CCIF is a reporting issuer under the securities legislation in each of the provinces and territories in Canada. Lysander is the investment fund manager of CCIF.

Prior to 2021, Lysander held 10,000 Class A units of CCIF. Lysander then acquired an aggregate of 1,302,379 Class A units of CCIF from the annual redemption and recirculation of CCIF units in each of 2021, 2022 and 2023, bringing the total number of Class A units held by Lysander to 1,312,379. The intention of Lysander's acquisition was to keep the units surrendered for redemption and recirculation issued and outstanding, rather than being redeemed by CCIF. Lysander wishes to make its 1,312,379 Class A units of CCIF available for purchase by investors or their investment advisers. The ASDP is designed to allow for an orderly disposition of Lysander's Class A units.

Under the ASDP, up to 1,312,379 Class A units of CCIF may be sold, at prevailing market prices over the course of the 12 months that the ASDP is expected to be in place, with sales of the Class A units commencing on March 31, 2024. At the time of the establishment of the ASDP, Lysander was not aware of or in possession of any material non-public information about CCIF or any securities of CCIF.

Lysander has provided clear trading parameters and other instructions in writing to its dealer, Portfolio HiWay Inc. (PHW), in administering the ASDP, specifying the number of Class A units to be sold and setting out the minimum trade price, and the dates and frequency of sales. The ASDP prohibits PHW, in administering the ASDP, from consulting with Lysander regarding any sales under the ASDP and prohibits Lysander from disclosing to PHW any information concerning CCIF that might influence the execution of the ASDP.

The ASDP contains meaningful restrictions on the ability of Lysander to amend, suspend or terminate the ASDP that have the effect of ensuring that Lysander cannot benefit from material non-public information.

This announcement is made and will be available on SEDAR+ pursuant to the recommended practices set forth in Staff Notice 55-317 Automatic Securities Disposition Plans of the Canadian Securities Administrators. Information regarding the ASDP and transactions thereunder, as the case may be, may be accessed on SEDI.

About Lysander Funds Ltd.

Lysander is the investment fund manager of CCIF. The head office of Lysander is located at 3080 Yonge St., suite 3037, Toronto, Ont., M4N 3N1.

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