Rollover Transaction & Adjusted Cost Base

Former limited partners of the Connor, Clark & Lunn 2007 Flow-Through Limited Partnership (“the Partnership”) received 1.24962 Class A Shares of Connor, Clark & Lunn Natural Resources Fund Inc. (“CC&L Natural Resources Fund”) for each Partnership Unit held pursuant to a rollover transaction on October 16, 2009.

The adjusted cost base (ACB) at the time of the rollover is estimated to be $9.5131 per Partnership Unit or $7.6128 per Class A Share of CC&L Natural Resources Fund. Tax slips will be issued by March 31, 2010.

When you sell any Class A Shares of CC&L Natural Resources Fund, you will want to know the ACB per Class A Share to determine capital gains or losses for tax reporting. Each shareholder is responsible for reporting the taxable capital gain or loss on their income tax return.

Investors should consult their tax advisor for all tax-related matters. This website is not intended to provide specific individual advice, including, without limitation, investment, financial, accounting or other tax. Please consult with your own professional advisor regarding your particular circumstances.