Company: CLM
Filing Date: 2025-02-21
Form Type: N-2
Source: 0001398344-25-003234
Chunk: 109

Company: Cornerstone Strategic Investment Fund, Inc.
Filing Date: 2025-02-21
Form: N-2
Chunk 109
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 currency” is not the U.S. dollar. |

If an entity treated as a partnership for U.S.
federal income tax purposes holds shares, the U.S. federal income tax treatment of a partner in the partnership will generally depend
upon the status of the partner and the activities of the partnership. A Stockholder that is a partnership and partners in such partnership
should consult their own tax advisors regarding the U.S. federal income tax consequences of holding and disposing of the shares.

Prospective U.S. Holders are urged to consult
their tax advisors as to the particular tax consequences of purchasing, owning and disposing of the shares, including the application
of U.S. federal, state and local tax laws.

<div align='center'>B-18</div>

Taxation as a Regulated Investment Company

The Fund intends to elect to be treated and to
qualify each year as a regulated investment company (a “RIC”) under the Code. Accordingly, the Fund must, among other things,
(i) derive in each taxable year at least 90% of its gross income (including tax-exempt interest) from (a) dividends, interest, payments
with respect to certain securities loans, and gains from the sale or other disposition of stock, securities or foreign currencies, or
other income (including but not limited to gain from forward contracts) derived with respect to its business of investing in such stock,
securities or currencies; and (b) net income from interests in “qualified publicly traded partnerships” (as defined in the
Code); (ii) diversify its holdings so that, at the end of each quarter of each taxable year (a) at least 50% of the value of the Fund’s
total assets is represented by cash and cash items, U.S. government securities, the securities of other regulated investment companies
and other securities, with such other securities limited, in respect of any one issuer, to an amount not greater than 5% of the value
of the Fund’s total assets and not more than 10% of the outstanding voting securities of such issuer and (b) not more than 25% of
the value of the Fund’s total assets is invested in the securities (other than U.S. government securities and the securities of
other regulated investment companies) of (I) any one issuer; (II) any two or more issuers that the Fund controls and that are determined
to be engaged in the same business or similar or related trades or businesses or (III)