Conversion to Open-End Fund:

Effective April 22, 2016 Canoe Canadian Diversified Income Fund (formerly O'Leary Canadian Diversified Income Fund) merged into Canoe Equity Income Class, an open-end mutual fund. Unitholders of the Canoe Diversified Fund recieved .960018708 Series Z shares of the mutual fund Canoe Equity Income Class for each unit previously held.