Company: CLM
Filing Date: 2025-02-21
Form Type: N-2
Source: 0001398344-25-003234
Chunk: 18

Company: Cornerstone Strategic Investment Fund, Inc.
Filing Date: 2025-02-21
Form: N-2
Chunk 18
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 Rights held by them are exercisable. Record Date Stockholders
who exercise all of their Rights will have the opportunity to indicate on the Subscription Certificate how many unsubscribed Shares they
are willing to acquire pursuant to the Additional Subscription Privilege.

| 14 |

If enough unsubscribed Shares remain after the Basic
Subscriptions have been exercised, all additional subscription requests will be honored in full. If there are not enough unsubscribed
Shares to honor all additional subscription requests, the Fund may, in its discretion, issue additional Shares up to 100% of Shares available
in the Offering to honor Additional Subscription Privilege requests (defined above as the “Over-Subscription Shares”), with
such Shares subject to the same terms and conditions of the Offering. In the event that the Subscription Price is less than the Estimated
Subscription Price, Over-Subscription Shares may be used by the Fund to fulfill any Shares subscribed for under the Basic Subscription.
The method by which any unsubscribed Shares or Over-Subscription Shares (collectively, the “Excess Shares”) will be distributed
and allocated pursuant to the Additional Subscription Privilege is as follows:

| (i) | If there are sufficient Excess Shares to                                                                                            
 satisfy all additional subscriptions by Stockholders exercising their rights under the Additional Subscription Privilege, each such 
 Stockholder shall be allotted the number of Shares which the Stockholder requested.                                                 |

| (ii) | If the aggregate number of Shares subscribed                                                                                       
 for under the Additional Subscription Privilege exceeds the number of Excess Shares, the Excess Shares will be allocated to Record 
 Date Stockholders who have exercised all of their Rights in accordance with their Additional Subscription Privilege request.       |

| (iii) | If there are not enough Excess                                                                                                                   
 Shares to fully satisfy all Additional Subscription Privilege requests by Record Date Stockholders pursuant to paragraph (ii) above,             
 the Excess Shares will be allocated among Record Date Stockholders who have exercised all of their Rights in proportion, not to the              
 number of Shares requested pursuant to the Additional Subscription Privilege, but to the number of Rights exercised by them under                
 their Basic Subscription Rights; provided, however, that no Stockholder shall be allocated a greater number of Excess Shares than                
 such Record Date Stockholder paid for and in no event shall the number of Shares allocated in connection with the Additional Subscription        
 Privilege exceed 100% of the Shares available in the Offering. The formula to be used in allocating the Excess Shares under this                 
 paragraph is as follows: (Rights