Company: CLM
Filing Date: 2025-04-21
Form Type: 424B3
Source: 0001398344-25-007380
Chunk: 104

Company: Cornerstone Strategic Investment Fund, Inc.
Filing Date: 2025-04-21
Form: 424B3
Chunk 104
---
 securities by the Fund and one or more of such other accounts simultaneously, the Investment
Adviser will allocate the security transactions (including “hot” issues) in a manner which it believes to be equitable under
the circumstances. As a result of such allocations, there may be instances where the Fund will not participate in a transaction that
is allocated among other accounts. If an aggregated order cannot be filled completely, allocations will generally be made on a pro rata
basis. An order may not be allocated on a pro rata basis where, for example: (i) consideration is given to an account with specialized
investment policies that coincide with the particulars of a specific investment; (ii) pro rata allocation would result in odd-lot or
de minimis amounts being allocated to a portfolio or other client; or (iii) where the Investment Adviser reasonably determines that departure
from a pro rata allocation is advisable. While these aggregation and allocation policies could have a detrimental effect on the price
or amount of the securities available to the Fund from time to time, it is the opinion of the Directors of the Fund that the benefits
from the Investment Adviser’s organization outweigh any disadvantage that may arise from exposure to simultaneous transactions.

During the fiscal years ended December 31, 2022,
2023 and 2024, the Fund paid $59,650, $43,158 and $84,711, respectively, in brokerage commissions.

| B-17 |

<div align='center'>CERTAIN MATERIAL UNITED STATES FEDERAL INCOME TAX CONSEQUENCES</div>

THE FOLLOWING IS A SUMMARY DISCUSSION OF THE MATERIAL U.S. FEDERAL INCOME TAX CONSEQUENCES THAT MAY BE RELEVANT TO A STOCKHOLDER OF ACQUIRING, HOLDING AND DISPOSING OF SHARES OF THE FUND. THIS DISCUSSION DOES NOT ADDRESS THE SPECIAL TAX RULES APPLICABLE TO CERTAIN CLASSES OF INVESTORS, SUCH AS TAX-EXEMPT ENTITIES, FOREIGN INVESTORS (EXCEPT AS EXPRESSLY PROVIDED BELOW), INSURANCE COMPANIES AND FINANCIAL INSTITUTIONS. THIS DISCUSSION ADDRESSES ONLY U.S. FEDERAL INCOME TAX CONSEQUENCES TO U.S. STOCKHOLDERS WHO HOLD THEIR SHARES AS CAPITAL ASSETS AND DOES NOT ADDRESS ALL OF THE U.S. FEDERAL INCOME TAX CONSEQUENCES THAT MAY BE RELEVANT TO PARTICULAR STOCKHOLDERS IN LIGHT OF THEIR INDIVIDUAL C