Company: CLM
Filing Date: 2025-04-21
Form Type: 424B3
Source: 0001398344-25-007380
Chunk: 62

Company: Cornerstone Strategic Investment Fund, Inc.
Filing Date: 2025-04-21
Form: 424B3
Chunk 62
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holders. The Board may
consider additional rights offerings in the future.

| 44 |

A return-of-capital distribution reduces the tax
basis of an investor’s Shares, which may make record-keeping by certain Stockholders more difficult.

The Fund discloses the characterization of its distributions
in notices to Stockholders and press releases to the public. Notwithstanding these communications, it is possible that the Distribution
Policy may create potential confusion in the marketplace as to whether the Fund’s distributions are comprised of income or return
of capital and how such characterization may influence the market price of the Fund’s Shares.

For the years 2020-2024, the Fund’s distributions
under the Distribution Policy were characterized, on an annual basis, as set forth on the table below:

<div align='center'>Cornerstone Strategic Investment Fund, Inc.

Dividends and Distributions Paid from 2020 through 2024</div>

| Years |     | Total                       
 Dividends and Distributions |             |     | Earnings 
 Amount   |             |     | Percent |       |   |     | Return-of-Capital 
 Amount            |             |     | Percent |       |   |
|:------|:----|:----------------------------|------------:|:----|:---------|------------:|:----|:--------|------:|:--|:----|:------------------|------------:|:----|:--------|------:|:--|
| 2020  |     | $                           | 169,115,831 |     | $        |  62,663,445 |     |         | 37.05 | % |     | $                 | 106,452,386 |     |         | 62.95 | % |
| 2021  |     |                             | 195,333,818 |     |          |  95,345,097 |     |         | 48.81 |   |     |                   |  99,988,721 |     |         | 51.19 |   |
| 2022  |     |                             | 358,340,969 |     |          |  40,820,693 |     |         | 11.39 |   |     |                   | 317,520,276 |     |         | 88.61 |   |
| 2023  |     |                             | 330,016,223 |     |          | 124,050