Conversion to Open-End Mutual Fund:

Effective November 21, 2019, NDX Growth & Income Fund Class A units (NGI.UN) and Class U units (unlisted) converted into open end mutual fund Mulvihill Premium Yield Fund (MCM 103). Unitholders of Class A units received 0.812727 Class F units of MCM 103 for each Class A unit previously held. Unitholders of Class U units received 1.143674 Class F units of MCM 103 for each Class U unit previously held. This was a taxable event.