The Fund will hold its interest in the Operating Subsidiaries that directly own and operate the Chemicals Business through the Commercial Trust, which will be wholly-owned by the Fund, and through Canexus LP, of which the Commercial Trust will hold 36.5% of the LP Units ( 40.1% if the Over-allotment Option is exercised in full).

(1) Ordinary LP Units, representing 36.5% of the LP Units ( 40.1% if the Over-allotment Option is exercised in full).
(2) Exchangeable LP Units representing 63.5% of the LP Units ( 59.9% if the Over-allotment Option is exercised in full).
(3) TrustCo, a wholly-owned subsidiary of the Corporation, is the trustee of the Commercial Trust.

The Fund permits investors to participate in the net cash flow derived from the Fund's indirect interest in the Chemicals Business to be acquired from Nexen at Closing. Investors in the Fund will also participate in the net cash flow derived from any additional assets which the Fund, through its subsidiaries, may acquire subsequent to Closing.

• Canexus Income Fund Prospectus

The Prospectus has detailed information on Canexus Commercial Trust, Canexus Limited Partnership, Canexus Limited and Operating Subsidiaries