Conversion to Corporation

Effective May 1, 2009, Mullen Group Income Fund converted from an income trust to a corporation. Pursuant to the reorganization, unit holders received one common share of Mullen Group Ltd. for each unit of Mullen Group Income Fund Previously held. If a disposition of shares of the corporation involved units purchased as the predecessor income trust, then Canada Revenue Agency will require an ACB calculation if a portion of the distribution received from the trust was deemed to have been return of capital.