Canoe EIT Income Fund (“Canoe” or the “Fund”)(TSX - EIT.UN) today announced the 2022 voluntary cash redemption.

Voluntary Annual Cash Redemption

The redemption date for the Fund’s annual voluntary cash redemption will be December 9, 2022. Unitholders are entitled to redeem units of the Fund at a price equal to 95% of the Average Net Asset Value (NAV) of the three trading days preceding the December 9, 2022 redemption date, less direct costs. Direct costs are expected to be less than 1%. If all redemption requests exceed 10% of the aggregate outstanding units of the Fund on November 18, 2022, the final day to submit units for redemption, the Fund will process redemptions to this maximum on a pro-rata basis based on the total number of units tendered. Payment for units that have been tendered and accepted for redemption will be made on or before January 4, 2023.

Unitholders wishing to redeem their units must provide notice of their intent to do so with their investment advisor or brokerage office no later than November 18, 2022. Please note that investment firms may impose an earlier deadline in order to facilitate the processing of redemption requests. Unitholders are strongly urged to consult their investment advisor or brokerage office directly to confirm their internal deadlines. Registered unitholders (those who hold a physical share certificate in their name) should contact the Fund’s transfer agent, Alliance Trust Company, at 403-237-6111 to redeem their units. Units that have been submitted for redemption will remain eligible for the October 2022 and November 2022 distributions, which are paid in November 2022 and December 2022, respectively.

Please note that any redemption requests made by non-resident unitholders may be subject to withholding tax.

Key Dates

October 15 - November 18, 2022 Unitholders may tender units for redemption
December 6,7 & 8, 2022 Redemption price determined based on average NAV of these trading days
December 9, 2022 Redemption date
January 4, 2023 Payment of redemption proceeds on or before this date

About Canoe EIT Income Fund

Canoe EIT Income Fund is one of Canada’s largest closed-end investment funds, designed to maximize monthly distributions and capital appreciation by investing in a broadly diversified portfolio of high quality securities. The Fund is listed on the TSX under the symbols EIT.UN, EIT.PR.A and EIT.PR.B, and is actively managed by Robert Taylor, Senior Vice President and Chief Investment Officer, Canoe Financial.

About Canoe Financial

Canoe Financial is one of Canada’s fastest growing independent mutual fund companies managing $11.5 billion in assets across a diversified range of award-winning investment solutions. Founded in 2008, Canoe Financial is an employee-owned investment management firm focused on building financial wealth for Canadians. Canoe Financial has a significant presence across Canada, including offices in Calgary, Toronto and Montreal.

ContactInvestor Relations1–877–434–2796info@canoefinancial.com

Not for Distribution to U.S. Newswire Services or for Dissemination in the United States of America.

The Fund makes monthly distributions of an amount comprised in whole or in part of Return of Capital (ROC) of the net asset value per unit. A ROC reduces the amount of your original investment and may result in the return to you of the entire amount of your original investment. ROC that is not reinvested will reduce the net asset value of the fund, which could reduce the fund’s ability to generate future income. You should not draw any conclusions about the Fund’s investment performance from the amount of this distribution. Commissions, trailing commissions, management fees and expenses all may be associated with investment funds. Please read the information filed about the Fund on www.sedar.com before investing. Investment funds are not guaranteed and past performance may not be repeated. This communication is not to be construed as a public offering to sell, or a solicitation of an offer to buy securities. Such an offer can only be made by way of a prospectus or other applicable offering document and should be read carefully before making any investment. This release is for information purposes only. Investors should consult their Investment Advisor for details and risk factors regarding specific strategies and various investment products.

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