Company: CLM
Filing Date: 2025-02-21
Form Type: N-2
Source: 0001398344-25-003234
Chunk: 19

Company: Cornerstone Strategic Investment Fund, Inc.
Filing Date: 2025-02-21
Form: N-2
Chunk 19
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 Exercised by over-subscribing Record Date Stockholder divided by Total Rights Exercised by all over-subscribing 
 Record Date Stockholders) multiplied by Excess Shares remaining.                                                                                 |

The percentage of Excess Shares each over-subscriber
may acquire will be rounded up to result in delivery of whole Shares (fractional Shares will not be issued).

The foregoing allocation process may involve a series
of allocations in order to assure that the total number of Shares available for over-subscription are distributed on a pro-rata basis.
The Fund will not offer or sell any Shares which are not subscribed for under the Basic Subscription or the Additional Subscription Privilege.
The Additional Subscription Privilege may result in additional dilution of a Stockholder’s ownership percentage and voting rights.

The Fund will not offer or sell any Shares which
are not subscribed for under the Basic Subscription or the Additional Subscription Privilege.

Expiration of the Offering. The Offering
will expire at 5:00 p.m., New York City time, on the Expiration Date ([●]), unless extended by the Fund (the “Extended Expiration
Date”). Rights will expire on the Expiration Date or Extended Expiration Date, as the case may be, and thereafter may not be exercised.

Method of Exercising Rights. Rights
may be exercised by filling in and signing the reverse side of the Subscription Certificate and mailing it in the envelope provided,
or otherwise delivering the completed and signed Subscription Certificate to the Subscription Agent, together with payment for the Shares
as described below under “Payment for Shares.” Rights may also be exercised through a Rights holder’s broker, who may
charge the Rights holder a servicing fee in connection with such exercise.

| 15 |

In the event that the Estimated Subscription Price
is more than the Subscription Price on the Expiration Date (or Extended Expiration Date, as the case may be), any resulting excess amount
paid by a Stockholder towards the purchase of Shares in the Offering will be applied by the Fund towards the purchase of additional Shares
under the Basic Subscription or, if such Stockholder has exercised all of the Rights initially issued to such Stockholder under the Basic
Subscription, towards the purchase of an additional number of Shares pursuant to the Additional Subscription Privilege. Any Stockholder
who desires that such excess not be treated by the Fund as a request by the Stockholder to acquire additional Shares in the Offering
and that such excess be refunded to the Stockholder must so indicate in the space provided on the Subscription Certificate.

Completed Subscription Certificates