<SEC-DOCUMENT>0000891804-20-000066.txt : 20200225
<SEC-HEADER>0000891804-20-000066.hdr.sgml : 20200225
<ACCEPTANCE-DATETIME>20200225163538
ACCESSION NUMBER:		0000891804-20-000066
CONFORMED SUBMISSION TYPE:	DEF 14A
PUBLIC DOCUMENT COUNT:		7
CONFORMED PERIOD OF REPORT:	20200402
FILED AS OF DATE:		20200225
DATE AS OF CHANGE:		20200225
EFFECTIVENESS DATE:		20200225

FILER:

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			FIDUCIARY/CLAYMORE ENERGY INFRASTRUCTURE FUND
		CENTRAL INDEX KEY:			0001305197
		IRS NUMBER:				000000000
		STATE OF INCORPORATION:			DE
		FISCAL YEAR END:			1130

	FILING VALUES:
		FORM TYPE:		DEF 14A
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	811-21652
		FILM NUMBER:		20651231

	BUSINESS ADDRESS:	
		STREET 1:		227 WEST MONROE STREET
		CITY:			CHICAGO
		STATE:			IL
		ZIP:			60606
		BUSINESS PHONE:		312-827-0100

	MAIL ADDRESS:	
		STREET 1:		227 WEST MONROE STREET
		CITY:			CHICAGO
		STATE:			IL
		ZIP:			60606

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	FIDUCIARY/CLAYMORE MLP OPPORTUNITY FUND
		DATE OF NAME CHANGE:	20090701

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	Fiduciary/Claymore MLP Opportunity Fund
		DATE OF NAME CHANGE:	20041005

FILER:

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			Guggenheim Enhanced Equity Income Fund
		CENTRAL INDEX KEY:			0001310709
		IRS NUMBER:				436922646
		STATE OF INCORPORATION:			MA
		FISCAL YEAR END:			1231

	FILING VALUES:
		FORM TYPE:		DEF 14A
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	811-21681
		FILM NUMBER:		20651228

	BUSINESS ADDRESS:	
		STREET 1:		C/O GUGGENHEIM FUNDS
		STREET 2:		227 WEST MONROE STREET
		CITY:			CHICAGO
		STATE:			IL
		ZIP:			60606
		BUSINESS PHONE:		312-827-0100

	MAIL ADDRESS:	
		STREET 1:		C/O GUGGENHEIM FUNDS
		STREET 2:		227 WEST MONROE STREET
		CITY:			CHICAGO
		STATE:			IL
		ZIP:			60606

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	Guggenheim Enhanced Equity Income Fund (f/k/a Old Mutual/Claymore Long-Short Fund)
		DATE OF NAME CHANGE:	20100622

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	Old Mutual/Claymore Long-Short Fund (f.k.a. Analytic Covered Call Plus Fund)
		DATE OF NAME CHANGE:	20050627

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	Old Mutual/Claymore Long-Short Premium Fund (f.k.a. Analytic Covered Call Plus Fund)
		DATE OF NAME CHANGE:	20050411

FILER:

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			GUGGENHEIM STRATEGIC OPPORTUNITIES FUND
		CENTRAL INDEX KEY:			0001380936
		IRS NUMBER:				000000000
		STATE OF INCORPORATION:			DE
		FISCAL YEAR END:			0531

	FILING VALUES:
		FORM TYPE:		DEF 14A
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	811-21982
		FILM NUMBER:		20651227

	BUSINESS ADDRESS:	
		STREET 1:		227 WEST MONROE STREET
		CITY:			CHICAGO
		STATE:			IL
		ZIP:			60606
		BUSINESS PHONE:		312-827-0100

	MAIL ADDRESS:	
		STREET 1:		227 WEST MONROE STREET
		CITY:			CHICAGO
		STATE:			IL
		ZIP:			60606

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	CLAYMORE/GUGGENHEIM STRATEGIC OPPORTUNITIES FUND
		DATE OF NAME CHANGE:	20090630

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	Claymore/Guggenheim Strategic Opportunities Fund
		DATE OF NAME CHANGE:	20070605

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	Claymore Strategic Opportunities Fund
		DATE OF NAME CHANGE:	20061113

FILER:

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			Guggenheim Taxable Municipal Managed Duration Trust
		CENTRAL INDEX KEY:			0001495825
		IRS NUMBER:				000000000
		STATE OF INCORPORATION:			DE

	FILING VALUES:
		FORM TYPE:		DEF 14A
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	811-22437
		FILM NUMBER:		20651229

	BUSINESS ADDRESS:	
		STREET 1:		227 WEST MONROE STREET
		CITY:			CHICAGO
		STATE:			IL
		ZIP:			60606
		BUSINESS PHONE:		312-827-0100

	MAIL ADDRESS:	
		STREET 1:		227 WEST MONROE STREET
		CITY:			CHICAGO
		STATE:			IL
		ZIP:			60606

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	Guggenheim Build America Bonds Managed Duration Trust
		DATE OF NAME CHANGE:	20100702

FILER:

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			Guggenheim Credit Allocation Fund
		CENTRAL INDEX KEY:			0001551949
		IRS NUMBER:				000000000
		STATE OF INCORPORATION:			DE
		FISCAL YEAR END:			0531

	FILING VALUES:
		FORM TYPE:		DEF 14A
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	811-22715
		FILM NUMBER:		20651230

	BUSINESS ADDRESS:	
		STREET 1:		227 WEST MONROE STREET
		CITY:			CHICAGO
		STATE:			IL
		ZIP:			60606
		BUSINESS PHONE:		312-827-0100

	MAIL ADDRESS:	
		STREET 1:		227 WEST MONROE STREET
		CITY:			CHICAGO
		STATE:			IL
		ZIP:			60606

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	Guggenheim Dynamic Opportunities Fund
		DATE OF NAME CHANGE:	20120614

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	Guggenheim Dynamic Income Fund
		DATE OF NAME CHANGE:	20120608
</SEC-HEADER>
<DOCUMENT>
<TYPE>DEF 14A
<SEQUENCE>1
<FILENAME>gug79497-def14a.htm
<DESCRIPTION>CEF PROXY
<TEXT>
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         Document created using EDGARfilings PROfile 6.3.0.0
         Copyright 1995 - 2020 Broadridge -->
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    <div style="text-align: center; margin-bottom: 6pt; font-family: Arial; font-weight: bold;"><font style="font-family: 'Times New Roman';">FIDUCIARY/CLAYMORE ENERGY INFRASTRUCTURE FUND (NYSE: FMO)</font><font style="font-family: 'Times New Roman';"><br>
      </font><font style="font-family: 'Times New Roman';">GUGGENHEIM TAXABLE MUNICIPAL MANAGED DURATION TRUST (NYSE: GBAB)</font><font style="font-family: 'Times New Roman';"><br>
      </font><font style="font-family: 'Times New Roman';">GUGGENHEIM CREDIT ALLOCATION FUND (NYSE: GGM)</font><font style="font-family: 'Times New Roman';"><br>
      </font><font style="font-family: 'Times New Roman';">GUGGENHEIM ENHANCED EQUITY INCOME FUND (NYSE: GPM)</font><font style="font-family: 'Times New Roman';"><br>
      </font><font style="font-family: 'Times New Roman';">GUGGENHEIM STRATEGIC OPPORTUNITIES FUND (NYSE: GOF)</font></div>
    <div style="text-align: center; margin-bottom: 6pt; font-family: Arial; font-weight: bold;"><font style="font-family: 'Times New Roman';">227 West Monroe Street, 7th Floor</font><font style="font-family: 'Times New Roman';"><br>
      </font><font style="font-family: 'Times New Roman';">Chicago, Illinois 60606</font></div>
    <div style="text-align: center; margin-bottom: 6pt; font-family: Arial; font-weight: bold;"><font style="font-family: 'Times New Roman';"> <br>
      </font></div>
    <div style="text-align: center; margin-bottom: 6pt; font-family: Arial; font-weight: bold;">
      <hr noshade="noshade" align="center" style="height: 2px; color: #000000; background-color: #000000; margin-left: auto; margin-right: auto; border: none;"><font style="font-family: 'Times New Roman';">NOTICE OF ANNUAL MEETING OF SHAREHOLDERS</font><font style="font-family: 'Times New Roman';"><br>
      </font><font style="font-family: 'Times New Roman';">To be held on April 2, 2020</font>
      <hr noshade="noshade" align="center" style="height: 2px; color: #000000; background-color: #000000; margin-left: auto; margin-right: auto; border: none;"></div>
    <div style="margin-bottom: 6pt;"> <br>
    </div>
    <div style="margin-bottom: 6pt;">&#160;&#160;&#160;&#160;&#160;Notice is hereby given to the holders of common shares of beneficial interest, par value $0.01 per share (&#8220;Shares&#8221;), of each of Fiduciary/Claymore Energy Infrastructure Fund (&#8220;FMO&#8221;), Guggenheim Taxable Municipal
      Managed Duration Trust (&#8220;GBAB&#8221;), Guggenheim Credit Allocation Fund (&#8220;GGM&#8221;), Guggenheim Enhanced Equity Income Fund (&#8220;GPM&#8221;), and Guggenheim Strategic Opportunities Fund (&#8220;GOF&#8221;) (FMO, GBAB, GGM, GPM, and GOF are each referred to herein as a &#8220;Fund&#8221; and
      collectively as the &#8220;Funds&#8221;) that the joint annual meeting of shareholders of the Funds (the &#8220;Annual Meeting&#8221;) will be held at the offices of Guggenheim Funds Investment Advisors, LLC, 227 West Monroe Street, Chicago, Illinois 60606, on Thursday,
      April 2, 2020, at 10:00 a.m. (Central time). The Annual Meeting is being held for the following purposes:</div>
    <div>
      <table cellspacing="0" cellpadding="0" class="DSPFListTable" id="z3588127cb0e2452f8d19e27cad4ff110" style="width: 100%; font-family: 'Times New Roman'; font-size: 10pt;">

          <tr style="vertical-align: top;">
            <td style="width: 20pt;">&#160;</td>
            <td style="vertical-align: top; width: 30pt;">
              <div style="text-align: left; margin-bottom: 6pt;">1.</div>
            </td>
            <td style="align: left; vertical-align: top; width: auto;">
              <div style="text-align: left; margin-bottom: 6pt;">To elect Trustees in the following manner:</div>
            </td>
          </tr>

      </table>
    </div>
    <div style="margin-bottom: 6pt; font-style: italic;"> <br>
    </div>
    <div>
      <table cellspacing="0" cellpadding="0" class="DSPFListTable" id="ze2ec881a50414caea218f13308575c6e" style="width: 100%; font-family: 'Times New Roman'; font-size: 10pt;">

          <tr style="vertical-align: top;">
            <td style="width: 50pt;">&#160;</td>
            <td style="vertical-align: top; width: 20pt;">
              <div style="text-align: left; margin-bottom: 6pt; font-style: italic;">(a)</div>
            </td>
            <td style="align: left; vertical-align: top; width: auto;">
              <div style="text-align: left; margin-bottom: 6pt; font-style: italic;">With respect to each of FMO, GBAB, GGM, and GPM:</div>
            </td>
          </tr>

      </table>
    </div>
    <div style="margin-bottom: 6pt;"> <br>
    </div>
    <div>
      <table cellspacing="0" cellpadding="0" class="DSPFListTable" id="zb40eb6068eaf405497e2c1895ae709f5" style="width: 100%; font-family: 'Times New Roman'; font-size: 10pt;">

          <tr style="vertical-align: top;">
            <td style="width: 70pt;">&#160;</td>
            <td style="vertical-align: top; width: 30pt;">
              <div style="text-align: left; margin-bottom: 6pt;">(i)</div>
            </td>
            <td style="align: left; vertical-align: top; width: auto;">
              <div style="text-align: left; margin-bottom: 6pt;">To elect, as Class I Trustees, the Trustee nominees named in the accompanying proxy statement (Mr. Randall C. Barnes, Ms. Angela Brock-Kyle, and Mr. Donald A. Chubb, Jr.) to serve until each
                Fund&#8217;s 2023 annual meeting of shareholders or until their respective successors shall have been elected and qualified.</div>
            </td>
          </tr>

      </table>
    </div>
    <div style="margin-bottom: 6pt; font-style: italic;"> <br>
    </div>
    <div>
      <table cellspacing="0" cellpadding="0" class="DSPFListTable" id="z5dc83d90327e4646b82487c9652fd9f0" style="width: 100%; font-family: 'Times New Roman'; font-size: 10pt;">

          <tr style="vertical-align: top;">
            <td style="width: 50pt;">&#160;</td>
            <td style="vertical-align: top; width: 20pt;">
              <div style="text-align: left; margin-bottom: 6pt; font-style: italic;">(b)</div>
            </td>
            <td style="align: left; vertical-align: top; width: auto;">
              <div style="text-align: left; margin-bottom: 6pt; font-style: italic;">With respect to GOF only:</div>
            </td>
          </tr>

      </table>
    </div>
    <div style="margin-bottom: 6pt;"> <br>
    </div>
    <div>
      <table cellspacing="0" cellpadding="0" class="DSPFListTable" id="zc69163764c4a4047a438e98a4c4cb9bb" style="width: 100%; font-family: 'Times New Roman'; font-size: 10pt;">

          <tr style="vertical-align: top;">
            <td style="width: 70pt;">&#160;</td>
            <td style="vertical-align: top; width: 30pt;">
              <div style="text-align: left; margin-bottom: 6pt;">(i)</div>
            </td>
            <td style="align: left; vertical-align: top; width: auto;">
              <div style="text-align: left; margin-bottom: 6pt;">To elect, as Class I Trustees, the Trustee nominees named in the accompanying proxy statement (Mr. Randall C. Barnes, Ms. Angela Brock-Kyle, Mr. Donald A. Chubb, Jr., Mr. Roman Friedrich III,
                and Ms. Amy J.</div>
            </td>
          </tr>

      </table>
    </div>
    <div style="margin-bottom: 6pt;"><br>
    </div>
    <div id="DSPFPageBreakArea" style="clear: both; margin-top: 10pt; margin-bottom: 10pt;">
      <div id="DSPFPageBreak" style="page-break-after: always;">
        <hr noshade="noshade" style="border-width: 0px; clear: both; margin: 4px 0px; width: 100%; height: 2px; color: #000000; background-color: #000000;"></div>
    </div>
    <div style="margin-bottom: 6pt;">&#160;</div>
    <div style="margin-bottom: 6pt;">
      <table cellspacing="0" cellpadding="0" class="DSPFListTable" style="width: 100%; font-family: 'Times New Roman'; font-size: 10pt;">

          <tr style="vertical-align: top;">
            <td style="width: 70pt;">&#160;</td>
            <td style="vertical-align: top; width: 30pt;">
              <div style="text-align: left; margin-bottom: 6pt;"><br>
              </div>
            </td>
            <td style="align: left; vertical-align: top; width: auto;">
              <div style="text-align: left; margin-bottom: 6pt;">
                <div style="margin-bottom: 6pt;">Lee) to serve until the Fund&#8217;s 2022 annual meeting of shareholders or until their respective successors shall have been elected and qualified.</div>
              </div>
            </td>
          </tr>

      </table>
    </div>
    <div style="margin-bottom: 6pt;"><br>
    </div>
    <div>
      <table cellspacing="0" cellpadding="0" class="DSPFListTable" id="ze74204bae4514b48a0c3fd0b3712d6dd" style="width: 100%; font-family: 'Times New Roman'; font-size: 10pt;">

          <tr style="vertical-align: top;">
            <td style="width: 20pt;">&#160;</td>
            <td style="vertical-align: top; width: 30pt;">
              <div style="text-align: left; margin-bottom: 6pt;">2.</div>
            </td>
            <td style="align: left; vertical-align: top; width: auto;">
              <div style="text-align: left; margin-bottom: 6pt;">To transact such other business as may properly come before the Annual Meeting or any adjournments, postponements or delays thereof.</div>
            </td>
          </tr>

      </table>
    </div>
    <div style="margin-bottom: 6pt; font-weight: bold;"> <br>
    </div>
    <div style="margin-bottom: 6pt; font-weight: bold;">THE BOARD OF TRUSTEES (THE &#8220;BOARD&#8221;) OF EACH FUND, UNANIMOUSLY RECOMMENDS THAT YOU VOTE &#8220;FOR&#8221; THE NOMINEES OF THE BOARD OF YOUR FUND LISTED IN THE ACCOMPANYING PROXY STATEMENT.</div>
    <div style="margin-bottom: 6pt;">&#160;&#160;&#160;&#160;&#160;The Board of each Fund has fixed the close of business on February 14, 2020, as the record date for the determination of shareholders entitled to notice of, and to vote at, the Annual Meeting and any adjournments,
      postponements or delays thereof.</div>
    <div style="margin-bottom: 6pt;">&#160;&#160;&#160;&#160;&#160;It is important that your Shares be represented at the Annual Meeting in person or by proxy. Whether or not you plan to attend the Annual Meeting, we urge you to complete, sign, date, and return the enclosed proxy
      card in the postage-paid envelope provided or vote via telephone or the Internet pursuant to the instructions on the enclosed proxy card so you will be represented at the Annual Meeting. If you attend the Annual Meeting and wish to vote in person,
      you will be able to do so and your vote at the Annual Meeting will revoke any proxy you may have submitted. Merely attending the Annual Meeting, however, will not revoke any previously submitted proxy.</div>
    <div style="margin-bottom: 6pt; font-family: Arial; margin-left: 470pt;"><font style="font-family: 'Times New Roman';">By order of the</font><font style="font-family: 'Times New Roman';"><br>
      </font><font style="font-family: 'Times New Roman';">Board of each Fund:</font></div>
    <div style="margin-bottom: 6pt; margin-left: 470pt;"><img src="gfundsproxy-1x2x1.jpg"></div>
    <div style="margin-bottom: 6pt; font-family: Arial; margin-left: 470pt;"><font style="font-family: 'Times New Roman';">Brian E. Binder</font><font style="font-family: 'Times New Roman';"><br>
      </font><font style="font-family: 'Times New Roman';">Chief Executive Officer and President of each Fund</font><font style="font-family: 'Times New Roman';"><br>
      </font><font style="font-family: 'Times New Roman';"><br>
      </font></div>
    <div style="margin-bottom: 6pt; font-family: Arial;"><font style="font-family: 'Times New Roman';"><br>
      </font></div>
    <div style="margin-bottom: 6pt; font-family: Arial;"><font style="font-family: 'Times New Roman';">Chicago, Illinois<br>
        February 25, 2020</font></div>
    <div style="margin-bottom: 6pt;"><br>
    </div>
    <div id="DSPFPageBreakArea" style="clear: both; margin-top: 10pt; margin-bottom: 10pt;">
      <div id="DSPFPageBreak" style="page-break-after: always;">
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    </div>
    <div style="margin-bottom: 6pt;">&#160;</div>
    <div style="margin-bottom: 6pt;"><br>
    </div>
    <div style="text-align: center; margin-bottom: 6pt; font-weight: bold;"><u>YOUR VOTE IS IMPORTANT</u></div>
    <div style="margin-bottom: 6pt; font-weight: bold;">PLEASE COMPLETE, SIGN, DATE AND RETURN THE ENCLOSED PROXY CARD IN THE POSTAGE-PAID ENVELOPE PROVIDED OR VOTE VIA TELEPHONE OR THE INTERNET PURSUANT TO THE INSTRUCTIONS ON THE ENCLOSED PROXY CARD. IN
      ORDER TO SAVE THE FUNDS ANY ADDITIONAL EXPENSE OF FURTHER SOLICITATION, PLEASE MAIL YOUR PROXY CARD OR VOTE VIA TELEPHONE OR THE INTERNET PROMPTLY.</div>
    <div style="margin-bottom: 6pt; font-weight: bold;">IF YOU WISH TO ATTEND THE ANNUAL MEETING AND VOTE IN PERSON, YOU WILL BE ABLE TO DO SO. IF YOU INTEND TO ATTEND THE ANNUAL MEETING IN PERSON AND YOU ARE A RECORD HOLDER OF A FUND&#8217;S SHARES, IN ORDER TO
      GAIN ADMISSION YOU MUST SHOW PHOTOGRAPHIC IDENTIFICATION, SUCH AS YOUR DRIVER&#8217;S LICENSE. IF YOU INTEND TO ATTEND THE ANNUAL MEETING IN PERSON AND YOU HOLD YOUR SHARES THROUGH A BANK, BROKER OR OTHER CUSTODIAN, IN ORDER TO GAIN ADMISSION YOU MUST SHOW
      PHOTOGRAPHIC IDENTIFICATION, SUCH AS YOUR DRIVER&#8217;S LICENSE, AND SATISFACTORY PROOF OF OWNERSHIP OF SHARES OF A FUND, SUCH AS YOUR VOTING INSTRUCTION FORM (OR A COPY THEREOF) OR BROKER&#8217;S STATEMENT INDICATING OWNERSHIP AS OF A RECENT DATE. IF YOU HOLD
      YOUR SHARES IN A BROKERAGE ACCOUNT OR THROUGH A BANK OR OTHER NOMINEE, YOU WILL NOT BE ABLE TO VOTE IN PERSON AT THE ANNUAL MEETING UNLESS YOU HAVE PREVIOUSLY REQUESTED AND OBTAINED A &#8220;LEGAL PROXY&#8221; FROM YOUR BROKER, BANK OR OTHER NOMINEE AND PRESENT
      IT AT THE ANNUAL MEETING.</div>
    <div style="margin-bottom: 6pt;"><br>
    </div>
    <div id="DSPFPageBreakArea" style="clear: both; margin-top: 10pt; margin-bottom: 10pt;">
      <div id="DSPFPageBreak" style="page-break-after: always;">
        <hr noshade="noshade" style="border-width: 0px; clear: both; margin: 4px 0px; width: 100%; height: 2px; color: #000000; background-color: #000000;"></div>
    </div>
    <div style="margin-bottom: 6pt;">&#160;</div>
    <div style="margin-bottom: 6pt;"><br>
    </div>
    <div style="text-align: center; margin-bottom: 6pt;">This page intentionally left blank.</div>
    <div style="text-align: center; margin-bottom: 6pt;"> <br>
      <br>
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    </div>
    <div id="DSPFPageBreakArea" style="clear: both; margin-top: 10pt; margin-bottom: 10pt;">
      <div id="DSPFPageBreak" style="page-break-after: always;">
        <hr noshade="noshade" style="border-width: 0px; clear: both; margin: 4px 0px; width: 100%; height: 2px; color: #000000; background-color: #000000;"></div>
    </div>
    <div><br>
    </div>
    <div><img src="gfundsproxy-1x5x1.jpg"></div>
    <br>
    <div style="text-align: center; margin-bottom: 6pt; font-family: Arial; font-weight: bold;"><font style="font-family: 'Times New Roman';">FIDUCIARY/CLAYMORE ENERGY INFRASTRUCTURE FUND (NYSE: FMO)</font><font style="font-family: 'Times New Roman';"><br>
        GUGGENHEIM TAXABLE MUNICIPAL MANAGED DURATION TRUST (NYSE: GBAB)<br>
        GUGGENHEIM CREDIT ALLOCATION FUND (NYSE: GGM)<br>
        GUGGENHEIM ENHANCED EQUITY INCOME FUND (NYSE: GPM)<br>
        GUGGENHEIM STRATEGIC OPPORTUNITIES FUND (NYSE: GOF)</font></div>
    <div style="text-align: center; margin-bottom: 6pt; font-family: Arial; font-weight: bold;"><font style="font-family: 'Times New Roman';"> <br>
      </font></div>
    <div style="text-align: center; margin-bottom: 6pt; font-weight: bold;">
      <hr noshade="noshade" align="center" style="height: 2px; color: #000000; background-color: #000000; margin-left: auto; margin-right: auto; border: none;">PROXY STATEMENT
      <hr noshade="noshade" align="center" style="height: 2px; color: #000000; background-color: #000000; margin-left: auto; margin-right: auto; border: none;"></div>
    <div style="text-align: center; margin-bottom: 6pt; font-family: Arial; font-weight: bold;"><font style="font-family: 'Times New Roman';"> <br>
      </font></div>
    <div style="text-align: center; margin-bottom: 6pt; font-family: Arial; font-weight: bold;"><font style="font-family: 'Times New Roman';">FOR THE JOINT ANNUAL MEETING OF SHAREHOLDERS</font><font style="font-family: 'Times New Roman';"><br>
      </font><font style="font-family: 'Times New Roman';">TO BE HELD ON APRIL 2, 2020</font></div>
    <div style="text-align: center; margin-bottom: 6pt; font-family: Arial; font-weight: bold;"><font style="font-family: 'Times New Roman';"> <br>
      </font></div>
    <div style="margin-bottom: 6pt;">&#160;&#160;&#160;&#160;&#160;This proxy statement (&#8220;Proxy Statement&#8221;) is furnished to the holders of common shares of beneficial interest, par value $0.01 per share (&#8220;Shares&#8221;), of Fiduciary/Claymore Energy Infrastructure Fund (&#8220;FMO&#8221;),
      Guggenheim Taxable Municipal Managed Duration Trust (&#8220;GBAB&#8221;), Guggenheim Credit Allocation Fund (&#8220;GGM&#8221;), Guggenheim Enhanced Equity Income Fund (&#8220;GPM&#8221;), and Guggenheim Strategic Opportunities Fund (&#8220;GOF&#8221;) (FMO, GBAB, GGM, GPM, and GOF are each
      referred to herein as a &#8220;Fund&#8221; and collectively as the &#8220;Funds&#8221;) in connection with the solicitation by the Board of Trustees (the &#8220;Board&#8221;) of each Fund of proxies to be voted at the joint annual meeting of shareholders of the Funds to be held on
      Thursday, April 2, 2020, and any adjournments, postponements or delays thereof (the &#8220;Annual Meeting&#8221;). The Annual Meeting will be held at the offices of Guggenheim Funds Investment Advisors, LLC, 227 West Monroe Street, Chicago, Illinois 60606 on
      Thursday, April 2, 2020, at 10:00 a.m. (Central time).</div>
    <div style="margin-bottom: 6pt;">&#160;&#160;&#160;&#160;&#160;This Proxy Statement will give you the information you need to vote on the matters listed on the accompanying Notice of Joint Annual Meeting of Shareholders (&#8220;Notice of Joint Annual Meeting&#8221;). Much of the
      information in this Proxy Statement is required under rules of the U.S. Securities and Exchange Commission (&#8220;SEC&#8221;). If there is anything you don&#8217;t understand, please contact us at our toll-free number, (800) 345-7999.</div>
    <div style="margin-bottom: 6pt;">&#160;&#160;&#160;&#160;&#160;<font style="font-weight: bold;">Each Fund will furnish to any shareholder, without charge, a copy of such Fund&#8217;s most recent annual report and/or semi-annual report to shareholders upon request. Requests should be
        directed to Guggenheim Funds Distributors, LLC, 227 West Monroe Street, 7th Floor, Chicago, Illinois 60606, (800) 345-7999.</font></div>
    <div style="text-align: center; margin-bottom: 6pt;">1</div>
    <div id="DSPFPageBreakArea" style="clear: both; margin-top: 10pt; margin-bottom: 10pt;">
      <div id="DSPFPageBreak" style="page-break-after: always;">
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    </div>
    <div><br>
    </div>
    <br>
    <div style="margin-bottom: 6pt;">&#160;&#160;&#160;&#160;&#160;The Notice of the Annual Meeting, this Proxy Statement and the enclosed proxy card(s) are first being sent to the Funds&#8217; shareholders on or about February 25, 2020.</div>
    <div style="margin-bottom: 6pt; font-style: italic; font-weight: bold; margin-left: 10pt;">&#8226;&#160; Why is a shareholder meeting being held?</div>
    <div style="margin-bottom: 6pt; margin-left: 20pt;">The Shares of each Fund are listed on the New York Stock Exchange (&#8220;NYSE&#8221;) and the rules of the NYSE require each Fund to hold an annual meeting of shareholders to elect Trustees each fiscal year.</div>
    <div style="margin-bottom: 6pt; font-style: italic; font-weight: bold; margin-left: 10pt;">&#8226;&#160; What Proposal will be voted on?</div>
    <div style="margin-bottom: 6pt; margin-left: 20pt;">To elect Trustees in the following manner:</div>
    <div style="margin-bottom: 6pt; font-style: italic; margin-left: 20pt;">(a) With respect to each of FMO, GBAB, GGM, and GPM:</div>
    <div style="margin-bottom: 6pt; margin-left: 40pt; text-indent: -10pt;">(i) To elect, as Class I Trustees, the Trustee nominees named in this proxy statement (Mr. Randall C. Barnes, Ms. Angela Brock-Kyle, and Mr. Donald A. Chubb, Jr.) to serve until
      each Fund&#8217;s 2023 annual meeting of shareholders or until their respective successors shall have been elected and qualified.</div>
    <div style="margin-bottom: 6pt; font-style: italic; margin-left: 20pt;">(b) With respect to GOF only:</div>
    <div style="margin-bottom: 6pt; margin-left: 40pt; text-indent: -10pt;">(i) To elect, as Class I Trustees, the Trustee nominees named in this proxy statement (Mr. Randall C. Barnes, Ms. Angela Brock-Kyle, Mr. Donald A. Chubb, Jr., Mr. Roman Friedrich
      III, and Ms. Amy J. Lee) to serve until the Fund&#8217;s 2022 annual meeting of shareholders or until their respective successors shall have been elected and qualified.</div>
    <div style="margin-bottom: 6pt; font-style: italic; font-weight: bold; margin-left: 10pt;">&#8226;&#160; Will my vote make a difference?</div>
    <div style="margin-bottom: 6pt; font-family: Arial; margin-left: 20pt;"><font style="font-family: 'Times New Roman'; font-weight: bold;">Yes! </font><font style="font-family: 'Times New Roman';">Your vote is important and could make a difference in
        the governance of the Fund(s), no matter how many Shares you own.</font></div>
    <div style="margin-bottom: 6pt; font-style: italic; font-weight: bold; margin-left: 10pt;">&#8226;&#160; Who is asking for my vote?</div>
    <div style="margin-bottom: 6pt; margin-left: 20pt;">The enclosed proxy card is solicited by the Board of each Fund for use at the Annual Meeting to be held on Thursday, April 2, 2020, and any adjournments, postponements or delays thereof, for the
      purposes stated in the Notice of Joint Annual Meeting.</div>
    <div style="margin-bottom: 6pt; font-style: italic; font-weight: bold; margin-left: 10pt;">&#8226;&#160; How does the Board recommend that shareholders vote on the Proposal?</div>
    <div style="margin-bottom: 6pt; margin-left: 20pt;">The Board unanimously recommends that you vote &#8220;FOR&#8221; the nominees of the Board of your Fund.</div>
    <div style="margin-bottom: 6pt; margin-left: 20pt;">The Board has reviewed the qualifications and backgrounds of the Board&#8217;s nominees and believes that they are experienced in overseeing investment companies and are familiar with the Funds, their
      investment strategies and operations and the investment adviser</div>
    <div style="text-align: center; margin-bottom: 6pt;">2</div>
    <div id="DSPFPageBreakArea" style="clear: both; margin-top: 10pt; margin-bottom: 10pt;">
      <div id="DSPFPageBreak" style="page-break-after: always;">
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    </div>
    <br>
    <div style="margin-bottom: 6pt;"><br>
    </div>
    <div style="margin-bottom: 6pt; margin-left: 20pt;">and investment sub-advisers of the Funds. The Board has approved the nominees named in this Proxy Statement and believes their election is in your best interests as shareholders.</div>
    <div style="margin-bottom: 6pt; font-style: italic; font-weight: bold; margin-left: 10pt;">&#8226;&#160; Who is eligible to vote?</div>
    <div style="margin-bottom: 6pt; margin-left: 20pt;">Shareholders of record of each Fund at the close of business on February 14, 2020 (the &#8220;Record Date&#8221;), are entitled to be present and to vote at the Annual Meeting or any adjournments, postponements
      or delays thereof. Each Share is entitled to one vote on the Proposal and a fractional vote with respect to fractional Shares, with no cumulative voting. Shares represented by duly executed proxies will be voted in accordance with your instructions.</div>
    <div style="margin-bottom: 6pt; font-style: italic; font-weight: bold; margin-left: 10pt;">&#8226;&#160; How do I vote my Shares?</div>
    <div style="margin-bottom: 6pt; margin-left: 20pt;">Whether or not you plan to attend the Annual Meeting, we urge you to complete, sign, date, and return the enclosed proxy card in the postage-paid envelope provided or vote via telephone or the
      Internet so your Shares will be represented at the Annual Meeting. Instructions regarding how to vote via telephone or the Internet are included on the enclosed proxy card. The required control number for Internet and telephone voting is printed on
      the enclosed proxy card. The control number is used to match proxy cards with shareholders&#8217; respective accounts and to ensure that, if multiple proxy cards are executed, Shares are voted in accordance with the proxy card bearing the latest date.</div>
    <div style="margin-bottom: 6pt; margin-left: 20pt;">If you wish to attend the Annual Meeting and vote in person, you will be able to do so. If you intend to attend the Annual Meeting in person and you are a record holder of a Fund&#8217;s Shares, in order to
      gain admission you must show photographic identification, such as your driver&#8217;s license. If you intend to attend the Annual Meeting in person and you hold your Shares through a bank, broker or other custodian, in order to gain admission you must show
      photographic identification, such as your driver&#8217;s license, and satisfactory proof of ownership of Shares of a Fund, such as your voting instruction form (or a copy thereof) or broker&#8217;s statement indicating ownership as of a recent date. If you hold
      your Shares in a brokerage account or through a bank or other nominee, you will not be able to vote in person at the Annual Meeting unless you have previously requested and obtained a &#8220;legal proxy&#8221; from your broker, bank or other nominee and present
      it at the Annual Meeting. You may contact the Funds at (800) 345-7999 to obtain directions to the site of the Annual Meeting.</div>
    <div style="margin-bottom: 6pt; margin-left: 20pt;">All Shares represented by properly executed proxies received prior to the Annual Meeting will be voted at the Annual Meeting in accordance with the instructions marked thereon or otherwise as provided
      therein. <font style="font-weight: bold;">If you sign the proxy card, but don&#8217;t fill in a</font></div>
    <div style="text-align: center; margin-bottom: 6pt;">3</div>
    <div id="DSPFPageBreakArea" style="clear: both; margin-top: 10pt; margin-bottom: 10pt;">
      <div id="DSPFPageBreak" style="page-break-after: always;">
        <hr noshade="noshade" style="border-width: 0px; clear: both; margin: 4px 0px; width: 100%; height: 2px; color: #000000; background-color: #000000;"></div>
    </div>
    <br>
    <div style="margin-bottom: 6pt;"><br>
    </div>
    <div style="margin-bottom: 6pt; font-family: Arial; margin-left: 20pt;"><font style="font-family: 'Times New Roman'; font-weight: bold;">vote, your Shares will be voted in accordance with the Board&#8217;s recommendation. </font><font style="font-family: 'Times New Roman';">If any other business is brought before the Annual Meeting, your Shares will be voted at the proxies&#8217; discretion.</font></div>
    <div style="margin-bottom: 6pt; margin-left: 20pt;">Shareholders who execute proxy cards or record their voting instructions via telephone or the Internet may revoke them at any time before they are voted by filing with the Secretary of the Funds a
      written notice of revocation, by delivering (including via telephone or the Internet) a duly executed proxy bearing a later date or by attending the Annual Meeting and voting in person. Merely attending the Annual Meeting, however, will not revoke
      any previously submitted proxy.</div>
    <div style="margin-bottom: 6pt; margin-left: 20pt;">Broker-dealer firms holding Shares of a Fund in &#8220;street name&#8221; for the benefit of their customers and clients will request the instructions of such customers and clients on how to vote their Shares on
      the Proposal before the Annual Meeting. The Funds understand that, under the rules of the NYSE, such broker-dealer firms may for certain &#8220;routine&#8221; matters, without instructions from their customers and clients, grant discretionary authority to the
      proxies designated by the Board to vote if no instructions have been received prior to the date specified in the broker-dealer firm&#8217;s request for voting instructions. Each Proposal is a &#8220;routine&#8221; matter and beneficial owners who do not provide proxy
      instructions or who do not return a proxy card may have their Shares voted by broker-dealer firms in favor of the Proposal. A properly executed proxy card or other authorization by a beneficial owner of Shares that does not specify how the beneficial
      owner&#8217;s Shares should be voted on the Proposal may be deemed an instruction to vote such Shares in favor of the Proposal. Broker-dealers who are not members of the NYSE may be subject to other rules, which may or may not permit them to vote your
      Shares without instruction. We urge you to provide instructions to your bank, broker or other nominee so that your votes may be counted.</div>
    <div style="margin-bottom: 6pt; font-style: italic; font-weight: bold; margin-left: 10pt;">&#8226;&#160; What vote is required to elect a Trustee nominee?</div>
    <div style="margin-bottom: 6pt; margin-left: 20pt;">With respect to each Fund, the affirmative vote of a majority of the Shares present in person or represented by proxy and entitled to vote on the matter at the Annual Meeting at which a quorum is
      present is necessary to elect a Trustee nominee.</div>
    <div style="margin-bottom: 6pt; font-style: italic; font-weight: bold; margin-left: 10pt;">&#8226;&#160; Why does this Proxy Statement list multiple closed-end funds?</div>
    <div style="margin-bottom: 6pt; margin-left: 20pt;">The Funds have similar proposals and it is cost-efficient to have a joint Proxy Statement and joint Annual Meeting. The Annual Meeting is scheduled as a joint meeting of the Funds, whose votes on
      similar proposals applicable to such funds are being solicited separately, because the shareholders of the funds are expected to consider and vote on similar matters. In the event that any shareholder present at</div>
    <div style="text-align: center; margin-bottom: 6pt;">4</div>
    <div id="DSPFPageBreakArea" style="clear: both; margin-top: 10pt; margin-bottom: 10pt;">
      <div id="DSPFPageBreak" style="page-break-after: always;">
        <hr noshade="noshade" style="border-width: 0px; clear: both; margin: 4px 0px; width: 100%; height: 2px; color: #000000; background-color: #000000;"></div>
    </div>
    <br>
    <div style="margin-bottom: 6pt;"><br>
    </div>
    <div style="margin-bottom: 6pt; margin-left: 20pt;">the Annual Meeting objects to the holding of a joint meeting and moves for the adjournment of his or her Fund&#8217;s meeting to a time immediately after the Annual Meeting so that each Fund&#8217;s meeting may
      be held separately, the persons named as proxies will vote in favor of such adjournment. Shareholders of each Fund will vote separately on the respective proposal relating to their Fund. In any event, an unfavorable vote on any Proposal by the
      shareholders of one Fund will not affect the implementation of such Proposal by another Fund if the Proposal is approved by the shareholders of that Fund.</div>
    <div style="margin-bottom: 6pt; font-style: italic; font-weight: bold; margin-left: 10pt;">&#8226;&#160; How many shares of each Fund were outstanding as of the record date?</div>
    <div style="margin-bottom: 6pt; margin-left: 20pt;">At the close of business on February 14, 2020, the Funds had the following Shares outstanding:</div>
    <table cellspacing="0" cellpadding="0" style="font-family: Arial; font-size: 10pt; width: 100%; border-collapse: collapse; text-align: left; color: #000000;" id="zc82e9a31abdd495da3a4dbe8e6a90fa6">

        <tr>
          <td style="width: 27.27%; vertical-align: middle; font-family: 'Times New Roman';">&#160;</td>
          <td style="width: 72.73%; vertical-align: middle; font-family: 'Times New Roman';">&#160;</td>
        </tr>
        <tr>
          <td style="width: 27.27%; vertical-align: bottom; border-bottom: #000000 2px solid;">
            <div style="text-align: center;"><font style="font-family: 'Times New Roman';">Fund</font><font style="font-family: 'Times New Roman';">&#160;</font></div>
          </td>
          <td style="width: 72.73%; vertical-align: bottom; border-bottom: #000000 2px solid;">
            <div style="text-align: center;"><font style="font-family: 'Times New Roman'; font-style: italic;">Number of Shares Outstanding</font><font style="font-family: 'Times New Roman';">&#160;</font></div>
          </td>
        </tr>
        <tr>
          <td style="width: 27.27%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
            <div style="text-align: center;"><font style="font-family: 'Times New Roman';">FMO</font><font style="font-family: 'Times New Roman';">&#160;</font></div>
          </td>
          <td style="width: 72.73%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
            <div style="text-align: center;"><font style="font-family: 'Times New Roman';">35,440,768</font><font style="font-family: 'Times New Roman';">&#160;</font></div>
          </td>
        </tr>
        <tr>
          <td style="width: 27.27%; vertical-align: bottom; background-color: rgb(255, 255, 255);">
            <div style="text-align: center;"><font style="font-family: 'Times New Roman';">GBAB</font><font style="font-family: 'Times New Roman';">&#160;</font></div>
          </td>
          <td style="width: 72.73%; vertical-align: bottom; background-color: rgb(255, 255, 255);">
            <div style="text-align: center;"><font style="font-family: 'Times New Roman';">18,198,447</font><font style="font-family: 'Times New Roman';">&#160;</font></div>
          </td>
        </tr>
        <tr>
          <td style="width: 27.27%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
            <div style="text-align: center;"><font style="font-family: 'Times New Roman';">GGM</font><font style="font-family: 'Times New Roman';">&#160;</font></div>
          </td>
          <td style="width: 72.73%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
            <div style="text-align: center;"><font style="font-family: 'Times New Roman';">8,574,293</font><font style="font-family: 'Times New Roman';">&#160;</font></div>
          </td>
        </tr>
        <tr>
          <td style="width: 27.27%; vertical-align: bottom; background-color: rgb(255, 255, 255);">
            <div style="text-align: center;"><font style="font-family: 'Times New Roman';">GPM</font><font style="font-family: 'Times New Roman';">&#160;</font></div>
          </td>
          <td style="width: 72.73%; vertical-align: bottom; background-color: rgb(255, 255, 255);">
            <div style="text-align: center;"><font style="font-family: 'Times New Roman';">48,342,588</font><font style="font-family: 'Times New Roman';">&#160;</font></div>
          </td>
        </tr>
        <tr>
          <td style="width: 27.27%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
            <div style="text-align: center;"><font style="font-family: 'Times New Roman';">GOF</font><font style="font-family: 'Times New Roman';">&#160;</font></div>
          </td>
          <td style="width: 72.73%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
            <div style="text-align: center;"><font style="font-family: 'Times New Roman';">40,911,301</font><font style="font-family: 'Times New Roman';">&#160;</font></div>
          </td>
        </tr>

    </table>
    <div style="margin-bottom: 6pt;">&#160;</div>
    <div style="text-align: center; margin-bottom: 6pt;">5</div>
    <div id="DSPFPageBreakArea" style="clear: both; margin-top: 10pt; margin-bottom: 10pt;">
      <div id="DSPFPageBreak" style="page-break-after: always;">
        <hr noshade="noshade" style="border-width: 0px; clear: both; margin: 4px 0px; width: 100%; height: 2px; color: #000000; background-color: #000000;"></div>
    </div>
    <br>
    <div style="margin-bottom: 6pt;"><br>
    </div>
    <div style="margin-bottom: 6pt; font-style: italic; font-weight: bold;">
      <hr noshade="noshade" align="center" style="height: 2px; color: #000000; background-color: #000000; text-align: center; margin-left: auto; margin-right: auto; border: none;">THE PROPOSAL: ELECTION OF TRUSTEES
      <hr noshade="noshade" align="center" style="height: 2px; color: #000000; background-color: #000000; text-align: center; margin-left: auto; margin-right: auto; border: none;"></div>
    <div style="margin-bottom: 6pt; font-weight: bold;"> <br>
    </div>
    <div style="margin-bottom: 6pt; font-weight: bold;">Introduction</div>
    <div style="margin-bottom: 6pt;">&#160;&#160;&#160;&#160;&#160;The rules of the NYSE require each Fund to hold an annual meeting of shareholders to elect Trustees each fiscal year. Shareholders of the Funds are being asked to elect to Trustees in the following manner:</div>
    <div>
      <table cellspacing="0" cellpadding="0" class="DSPFListTable" id="z0f92cfe7c65749a8a793d49615e54b40" style="width: 100%; font-family: 'Times New Roman'; font-size: 10pt;">

          <tr style="vertical-align: top;">
            <td style="width: 20pt;">&#160;</td>
            <td style="vertical-align: top; width: 30pt;">
              <div style="text-align: left; margin-bottom: 6pt;">(a)</div>
            </td>
            <td style="align: left; vertical-align: top; width: auto;">
              <div style="text-align: left; margin-bottom: 6pt;"><font style="font-style: italic;">With respect to each of FMO, GBAB, GGM, and GPM:</font></div>
            </td>
          </tr>

      </table>
    </div>
    <div style="margin-bottom: 6pt;"> <br>
    </div>
    <div>
      <table cellspacing="0" cellpadding="0" class="DSPFListTable" id="z8de670017423481e881217eaf7086e9b" style="width: 100%; font-family: 'Times New Roman'; font-size: 10pt;">

          <tr style="vertical-align: top;">
            <td style="width: 50pt;">&#160;</td>
            <td style="vertical-align: top; width: 20pt;">
              <div style="text-align: left; margin-bottom: 6pt;">(i)</div>
            </td>
            <td style="align: left; vertical-align: top; width: auto;">
              <div style="text-align: left; margin-bottom: 6pt;">To elect, as Class I Trustees, the Trustee nominees named in this proxy statement (Mr. Randall C. Barnes, Ms. Angela Brock-Kyle, Mr. Donald A. Chubb, Jr.) to serve until each Fund&#8217;s 2023
                annual meeting of shareholders or until their respective successors shall have been elected and qualified.</div>
            </td>
          </tr>

      </table>
    </div>
    <div style="margin-bottom: 6pt;"> <br>
    </div>
    <div>
      <table cellspacing="0" cellpadding="0" class="DSPFListTable" id="z804c869f1d42415b97042bcdbd799676" style="width: 100%; font-family: 'Times New Roman'; font-size: 10pt;">

          <tr style="vertical-align: top;">
            <td style="width: 20pt;">&#160;</td>
            <td style="vertical-align: top; width: 30pt;">
              <div style="text-align: left; margin-bottom: 6pt;">(b)</div>
            </td>
            <td style="align: left; vertical-align: top; width: auto;">
              <div style="text-align: left; margin-bottom: 6pt;"><font style="font-style: italic;">With respect to GOF only:</font></div>
            </td>
          </tr>

      </table>
    </div>
    <div style="margin-bottom: 6pt;"> <br>
    </div>
    <div>
      <table cellspacing="0" cellpadding="0" class="DSPFListTable" id="z236338939eaa427dab8e038c5786b5d3" style="width: 100%; font-family: 'Times New Roman'; font-size: 10pt;">

          <tr style="vertical-align: top;">
            <td style="width: 50pt;">&#160;</td>
            <td style="vertical-align: top; width: 20pt;">
              <div style="text-align: left; margin-bottom: 6pt;">(i)</div>
            </td>
            <td style="align: left; vertical-align: top; width: auto;">
              <div style="text-align: left; margin-bottom: 6pt;">To elect, as Class I Trustees, the Trustee nominees named in this proxy statement (Mr. Randall C. Barnes, Ms. Angela Brock-Kyle, Mr. Donald A. Chubb, Jr., Mr. Roman Friedrich III, and Ms. Amy
                J. Lee) to serve until the Fund&#8217;s 2022 annual meeting of shareholders or until their respective successors shall have been elected and qualified.</div>
            </td>
          </tr>

      </table>
    </div>
    <div style="margin-bottom: 6pt; font-family: Arial;"><font style="font-family: 'Times New Roman'; font-weight: bold;"> <br>
      </font></div>
    <div style="margin-bottom: 6pt; font-family: Arial;"><font style="font-family: 'Times New Roman'; font-weight: bold;">Composition of the Board of Trustees</font><font style="font-family: 'Times New Roman';"><br>
      </font><font style="font-family: 'Times New Roman';"><br>
        <font style="font-style: italic;">FMO, GBAB, GGM, and GPM:</font></font></div>
    <div style="margin-bottom: 6pt;">&#160;&#160;&#160;&#160;&#160;The Trustees of FMO, GBAB, GGM, and GPM are classified into three classes of Trustees, as follows:</div>
    <table cellspacing="0" cellpadding="0" style="font-family: Arial; font-size: 10pt; width: 100%; border-collapse: collapse; text-align: left; color: #000000;" id="z587bd15a9c2c4a1fb84a795c7ab2793d">

        <tr>
          <td style="width: 32.33%; vertical-align: middle; font-family: 'Times New Roman';">&#160;</td>
          <td style="width: 35.35%; vertical-align: middle; font-family: 'Times New Roman';">&#160;</td>
          <td style="width: 32.32%; vertical-align: middle; font-family: 'Times New Roman';">&#160;</td>
        </tr>
        <tr>
          <td style="width: 32.33%; vertical-align: bottom; border-bottom: #000000 2px solid;">
            <div style="text-align: center;"><font style="font-family: 'Times New Roman';">Class I Trustee*</font><font style="font-family: 'Times New Roman';">&#160;</font></div>
          </td>
          <td style="width: 35.35%; vertical-align: bottom; border-bottom: #000000 2px solid;">
            <div style="text-align: center;"><font style="font-family: 'Times New Roman';">Class II Trustees**</font><font style="font-family: 'Times New Roman';">&#160;</font></div>
          </td>
          <td style="width: 32.32%; vertical-align: bottom; border-bottom: #000000 2px solid;">
            <div style="text-align: center;"><font style="font-family: 'Times New Roman';">Class III Trustees***</font><font style="font-family: 'Times New Roman';">&#160;</font></div>
          </td>
        </tr>
        <tr>
          <td style="width: 32.33%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
            <div style="text-align: center;"><font style="font-family: 'Times New Roman';">Randall C. Barnes</font><font style="font-family: 'Times New Roman';">&#160;</font></div>
          </td>
          <td style="width: 35.35%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
            <div style="text-align: center;"><font style="font-family: 'Times New Roman';">Jerry B. Farley</font><font style="font-family: 'Times New Roman';">&#160;</font></div>
          </td>
          <td style="width: 32.32%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
            <div style="text-align: center;"><font style="font-family: 'Times New Roman';">Amy J. Lee</font><font style="font-family: 'Times New Roman';">&#160;</font></div>
          </td>
        </tr>
        <tr>
          <td style="width: 32.33%; vertical-align: bottom; background-color: rgb(255, 255, 255);">
            <div style="text-align: center;"><font style="font-family: 'Times New Roman';">Angela Brock-Kyle</font><font style="font-family: 'Times New Roman';">&#160;</font></div>
          </td>
          <td style="width: 35.35%; vertical-align: bottom; background-color: rgb(255, 255, 255);">
            <div style="text-align: center;"><font style="font-family: 'Times New Roman';">Roman Friedrich III</font><font style="font-family: 'Times New Roman';">&#160;</font></div>
          </td>
          <td style="width: 32.32%; vertical-align: bottom; background-color: rgb(255, 255, 255);">
            <div style="text-align: center;"><font style="font-family: 'Times New Roman';">Sandra G. Sponem</font><font style="font-family: 'Times New Roman';">&#160;</font></div>
          </td>
        </tr>
        <tr>
          <td style="width: 32.33%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
            <div style="text-align: center;"><font style="font-family: 'Times New Roman';">Donald A. Chubb, Jr.</font><font style="font-family: 'Times New Roman';">&#160;</font></div>
          </td>
          <td style="width: 35.35%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
            <div style="text-align: center;"><font style="font-family: 'Times New Roman';">Thomas F. Lydon, Jr.</font><font style="font-family: 'Times New Roman';">&#160;</font></div>
          </td>
          <td style="width: 32.32%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
            <div style="text-align: center;"><font style="font-family: 'Times New Roman';">Ronald E. Toupin, Jr.</font><font style="font-family: 'Times New Roman';">&#160;</font></div>
          </td>
        </tr>
        <tr>
          <td style="width: 25%; vertical-align: bottom; font-family: 'Times New Roman'; background-color: rgb(255, 255, 255);">
            <div style="text-align: center;"><br>
            </div>
          </td>
          <td style="width: 25%; vertical-align: bottom; font-family: 'Times New Roman'; background-color: rgb(255, 255, 255);">
            <div style="text-align: center;">Ronald A. Nyberg</div>
          </td>
          <td style="width: 50%; vertical-align: bottom; font-family: 'Times New Roman'; background-color: rgb(255, 255, 255);">&#160;</td>
        </tr>

    </table>
    <div style="margin-bottom: 6pt;">&#160;
      <hr align="left" style="height: 2px; width: 10%; color: #000000; background-color: #000000; margin-left: 0px; margin-right: auto; border: none;"></div>
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        <tr>
          <td style="width: 3%; vertical-align: top;">
            <div><font style="font-family: 'Times New Roman';">*</font><font style="font-family: 'Times New Roman';">&#160;</font></div>
          </td>
          <td colspan="1" style="width: 97%; vertical-align: bottom;">
            <div><font style="font-family: 'Times New Roman';">Class I Trustees are standing for election at the Annual Meeting, and are expected to next stand for</font><font style="font-family: 'Times New Roman';"> </font><font style="font-family: 'Times New Roman';">election in 2023.</font><font style="font-family: 'Times New Roman';">&#160;</font></div>
          </td>
        </tr>
        <tr>
          <td style="width: 3%; vertical-align: top;">
            <div><font style="font-family: 'Times New Roman';">**</font><font style="font-family: 'Times New Roman';">&#160;</font></div>
          </td>
          <td style="width: 97%; vertical-align: bottom;">
            <div style="text-indent: 0.05pt;"><font style="font-family: 'Times New Roman';">Class II Trustees are expected to next stand for election in 2021.</font><font style="font-family: 'Times New Roman';">&#160;</font></div>
          </td>
        </tr>
        <tr>
          <td style="width: 3%; vertical-align: top;">
            <div><font style="font-family: 'Times New Roman';">***&#160;</font><font style="font-family: 'Times New Roman';"></font></div>
          </td>
          <td style="width: 97%; vertical-align: bottom;"><font style="font-family: 'Times New Roman';">Class III Trustees are expected to next stand for election in 2022.</font><font style="font-family: 'Times New Roman';"> <br>
            </font></td>
        </tr>

    </table>
    <div style="margin-bottom: 6pt;">&#160;</div>
    <div style="text-align: center; margin-bottom: 6pt;">6</div>
    <div id="DSPFPageBreakArea" style="clear: both; margin-top: 10pt; margin-bottom: 10pt;">
      <div id="DSPFPageBreak" style="page-break-after: always;">
        <hr noshade="noshade" style="border-width: 0px; clear: both; margin: 4px 0px; width: 100%; height: 2px; color: #000000; background-color: #000000;"></div>
    </div>
    <br>
    <div style="margin-bottom: 6pt;"><br>
    </div>
    <div style="margin-bottom: 6pt; font-style: italic;">GOF:</div>
    <div style="margin-bottom: 6pt; margin-left: 10pt;">The Trustees of GOF are classified into two classes of Trustees, as follows:</div>
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        <tr>
          <td style="width: 49.51%; vertical-align: middle; font-family: 'Times New Roman';">&#160;</td>
          <td style="width: 50.49%; vertical-align: middle; font-family: 'Times New Roman';">&#160;</td>
        </tr>
        <tr>
          <td style="width: 49.51%; vertical-align: bottom; border-bottom: #000000 2px solid;">
            <div style="text-align: center;"><font style="font-family: 'Times New Roman';">Class I Trustee*</font><font style="font-family: 'Times New Roman';">&#160;</font></div>
          </td>
          <td style="width: 50.49%; vertical-align: bottom; border-bottom: #000000 2px solid;">
            <div style="text-align: center;"><font style="font-family: 'Times New Roman';">Class II Trustees**</font><font style="font-family: 'Times New Roman';">&#160;</font></div>
          </td>
        </tr>
        <tr>
          <td style="width: 49.51%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
            <div style="text-align: center;"><font style="font-family: 'Times New Roman';">Randall C. Barnes</font><font style="font-family: 'Times New Roman';">&#160;</font></div>
          </td>
          <td style="width: 50.49%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
            <div style="text-align: center;"><font style="font-family: 'Times New Roman';">Jerry B. Farley</font><font style="font-family: 'Times New Roman';">&#160;</font></div>
          </td>
        </tr>
        <tr>
          <td style="width: 49.51%; vertical-align: bottom; background-color: rgb(255, 255, 255);">
            <div style="text-align: center;"><font style="font-family: 'Times New Roman';">Angela Brock-Kyle</font><font style="font-family: 'Times New Roman';">&#160;</font></div>
          </td>
          <td style="width: 50.49%; vertical-align: bottom; background-color: rgb(255, 255, 255);">
            <div style="text-align: center;"><font style="font-family: 'Times New Roman';">Thomas F. Lydon Jr.</font><font style="font-family: 'Times New Roman';">&#160;</font></div>
          </td>
        </tr>
        <tr>
          <td style="width: 49.51%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
            <div style="text-align: center;"><font style="font-family: 'Times New Roman';">Donald A. Chubb, Jr.</font><font style="font-family: 'Times New Roman';">&#160;</font></div>
          </td>
          <td style="width: 50.49%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
            <div style="text-align: center;"><font style="font-family: 'Times New Roman';">Ronald A. Nyberg</font><font style="font-family: 'Times New Roman';">&#160;</font></div>
          </td>
        </tr>
        <tr>
          <td style="width: 49.51%; vertical-align: bottom; background-color: rgb(255, 255, 255);">
            <div style="text-align: center;"><font style="font-family: 'Times New Roman';">Roman Friedrich III</font><font style="font-family: 'Times New Roman';">&#160;</font></div>
          </td>
          <td style="width: 50.49%; vertical-align: bottom; background-color: rgb(255, 255, 255);">
            <div style="text-align: center;"><font style="font-family: 'Times New Roman';">Sandra G. Sponem</font><font style="font-family: 'Times New Roman';">&#160;</font></div>
          </td>
        </tr>
        <tr>
          <td style="width: 49.51%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
            <div style="text-align: center;"><font style="font-family: 'Times New Roman';">Amy J. Lee</font><font style="font-family: 'Times New Roman';">&#160;</font></div>
          </td>
          <td style="width: 50.49%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
            <div style="text-align: center;"><font style="font-family: 'Times New Roman';">Ronald E. Toupin, Jr.</font><font style="font-family: 'Times New Roman';">&#160;</font></div>
          </td>
        </tr>

    </table>
    <div style="margin-bottom: 6pt;">&#160;
      <hr align="left" style="height: 2px; width: 10%; color: #000000; background-color: #000000; margin-left: 0px; margin-right: auto; border: none;"></div>
    <table cellspacing="0" cellpadding="0" style="font-family: Arial; font-size: 10pt; width: 100%; border-collapse: collapse; text-align: left; color: #000000;" id="z74e8b8a8873642c3832b1bd7fe2560ac">

        <tr>
          <td style="width: 3%; vertical-align: bottom;">
            <div><font style="font-family: 'Times New Roman';">*</font><font style="font-family: 'Times New Roman';">&#160;</font></div>
          </td>
          <td style="width: 97%; vertical-align: bottom;">
            <div style="text-indent: 0.05pt;"><font style="font-family: 'Times New Roman';">Class I Trustees are standing for election at the Annual Meeting, and are expected to next stand for</font><font style="font-family: 'Times New Roman';"> election
                in 2022.</font><font style="font-family: 'Times New Roman';"> <br>
              </font></div>
          </td>
        </tr>
        <tr>
          <td style="width: 3%; vertical-align: bottom;">
            <div><font style="font-family: 'Times New Roman';">**</font><font style="font-family: 'Times New Roman';">&#160;</font></div>
          </td>
          <td style="width: 97%; vertical-align: bottom;">
            <div style="text-indent: 0.05pt;"><font style="font-family: 'Times New Roman';">Class II Trustees are expected to next stand for election in 2021.</font><font style="font-family: 'Times New Roman';">&#160;</font></div>
          </td>
        </tr>

    </table>
    <div style="margin-bottom: 6pt;">&#160;</div>
    <div style="margin-bottom: 6pt; font-weight: bold;">Election of Trustees</div>
    <div style="margin-bottom: 6pt;">&#160;&#160;&#160;&#160;&#160;Each Trustee nominee, if elected at the Annual Meeting, will hold office for a term in accordance with his or her respective Class or until his or her respective successor shall have been elected and qualified or
      until he or she resigns or is otherwise removed. The other Trustees of the Funds will continue to serve under their current terms and will stand for election at subsequent annual meetings of shareholders as indicated above.</div>
    <div style="margin-bottom: 6pt;">&#160;&#160;&#160;&#160;&#160;Unless authority is withheld or other instructions are provided, it is the intention of the persons named in the proxy card to vote &#8220;<font style="font-weight: bold;">FOR</font>&#8221; the Trustee nominees named above.
      Each Trustee nominee has consented to serve as a Trustee of each Fund if elected at the Annual Meeting. If a designated Trustee nominee declines or otherwise becomes unavailable for election, however, the proxy confers discretionary power on the
      persons named therein to vote in favor of a substitute Trustee nominee or nominees.</div>
    <div style="margin-bottom: 6pt; font-weight: bold;">Trustees</div>
    <div style="margin-bottom: 6pt;">&#160;&#160;&#160;&#160;&#160;Effective in November 2019, the membership of the Board of the Funds and the boards of the other funds advised by the investment advisers to the Funds and their affiliates (the &#8220;Guggenheim Family of Funds&#8221;) was
      aligned and consolidated such that funds in the Guggenheim Family of Funds are overseen by the same group of trustees. The board of trustees of each trust of the Guggenheim Family of Funds separately determined such alignment and consolidation is in
      the best interests of the funds in the Guggenheim Family of Funds overseen by such boards. This alignment and consolidation was undertaken in light of a variety of factors, including the opportunity to enhance the diversity of these boards, address
      trustee succession needs, further streamline and enhance the effectiveness of board oversight, and other potential benefits, including the potential over time for economies of scale for fund shareholders as certain costs are spread over a larger
      asset base.</div>
    <div style="margin-bottom: 6pt;">&#160;&#160;&#160;&#160;&#160;Certain information concerning the Trustees and the officers of each of the Funds is set forth in the table below. Independent Trustees are those who are not</div>
    <div style="text-align: center; margin-bottom: 6pt;">7</div>
    <div id="DSPFPageBreakArea" style="clear: both; margin-top: 10pt; margin-bottom: 10pt;">
      <div id="DSPFPageBreak" style="page-break-after: always;">
        <hr noshade="noshade" style="border-width: 0px; clear: both; margin: 4px 0px; width: 100%; height: 2px; color: #000000; background-color: #000000;"></div>
    </div>
    <br>
    <div style="margin-bottom: 6pt;"><br>
    </div>
    <div style="margin-bottom: 6pt;">interested persons of (i) the Funds, (ii) Guggenheim Funds Investment Advisors, LLC (&#8220;Guggenheim Funds&#8221; or the &#8220;Adviser&#8221;), each Fund&#8217;s investment adviser, (iii) Tortoise Capital Advisors, L.L.C., investment sub-adviser
      to FMO or (iv) Guggenheim Partners Investment Management, LLC (&#8220;GPIM&#8221;), investment sub-adviser to GBAB, GGM, GPM, and GOF, and who satisfy the requirements contained in the definition of &#8220;independent&#8221; as defined in Rule 10A-3 under the Securities
      Exchange Act of 1934 (the &#8220;Independent Trustees&#8221;).The Fund Complex consists of U.S. registered investment companies advised or serviced by Guggenheim Funds or its affiliates. The Fund Complex is composed of seven closed-end funds (including the
      Funds) and 150 open-end funds advised or serviced by the Adviser or its affiliates.</div>
    <table cellspacing="0" cellpadding="0" style="font-family: Arial; font-size: 10pt; width: 100%; border-collapse: collapse; text-align: left; color: #000000;" id="z5516a6ded2e44e40a62bc32f3c3b01a5">

        <tr>
          <td style="width: 16.5%; vertical-align: middle; font-family: 'Times New Roman';">&#160;</td>
          <td style="width: 10.3%; vertical-align: middle; font-family: 'Times New Roman';">&#160;</td>
          <td style="width: 9.28%; vertical-align: middle; font-family: 'Times New Roman';">&#160;</td>
          <td style="width: 35.06%; vertical-align: middle; font-family: 'Times New Roman';">&#160;</td>
          <td style="width: 13.4%; vertical-align: middle; font-family: 'Times New Roman';">&#160;</td>
          <td style="width: 15.46%; vertical-align: middle; font-family: 'Times New Roman';">&#160;</td>
        </tr>
        <tr>
          <td style="width: 16.5%; vertical-align: bottom; font-family: 'Times New Roman';">
            <div>&#160;</div>
          </td>
          <td style="width: 10.3%; vertical-align: bottom; font-family: 'Times New Roman';">
            <div>&#160;</div>
          </td>
          <td style="width: 9.28%; vertical-align: bottom; font-family: 'Times New Roman';">
            <div>&#160;</div>
          </td>
          <td style="width: 35.06%; vertical-align: bottom; font-family: 'Times New Roman';">
            <div>&#160;</div>
          </td>
          <td style="width: 13.4%; vertical-align: bottom; font-family: 'Times New Roman';">
            <div>&#160;</div>
          </td>
          <td style="width: 15.46%; vertical-align: bottom;">
            <div style="text-align: center;"><font style="font-family: 'Times New Roman'; font-weight: bold;">Other</font><font style="font-family: 'Times New Roman';">&#160;</font></div>
          </td>
        </tr>
        <tr>
          <td style="width: 16.5%; vertical-align: bottom; font-family: 'Times New Roman';">
            <div>&#160;</div>
          </td>
          <td style="width: 10.3%; vertical-align: bottom; font-family: 'Times New Roman';">
            <div>&#160;</div>
          </td>
          <td style="width: 9.28%; vertical-align: bottom;">
            <div style="text-align: center;"><font style="font-family: 'Times New Roman'; font-weight: bold;">Term of</font><font style="font-family: 'Times New Roman';">&#160;</font></div>
          </td>
          <td style="width: 35.06%; vertical-align: bottom; font-family: 'Times New Roman';">
            <div>&#160;</div>
          </td>
          <td style="width: 13.4%; vertical-align: bottom; font-family: 'Times New Roman';">
            <div>&#160;</div>
          </td>
          <td style="width: 15.46%; vertical-align: bottom;">
            <div style="text-align: center;"><font style="font-family: 'Times New Roman'; font-weight: bold;">Directorships</font><font style="font-family: 'Times New Roman';">&#160;</font></div>
          </td>
        </tr>
        <tr>
          <td style="width: 16.5%; vertical-align: bottom; font-family: 'Times New Roman';">
            <div>&#160;</div>
          </td>
          <td style="width: 10.3%; vertical-align: bottom; font-family: 'Times New Roman';">
            <div>&#160;</div>
          </td>
          <td style="width: 9.28%; vertical-align: bottom;">
            <div style="text-align: center;"><font style="font-family: 'Times New Roman'; font-weight: bold;">Office</font><font style="font-family: 'Times New Roman';">&#160;</font></div>
          </td>
          <td style="width: 35.06%; vertical-align: bottom; font-family: 'Times New Roman';">
            <div>&#160;</div>
          </td>
          <td style="width: 13.4%; vertical-align: bottom;">
            <div style="text-align: center;"><font style="font-family: 'Times New Roman'; font-weight: bold;">Number of</font><font style="font-family: 'Times New Roman';">&#160;</font></div>
          </td>
          <td style="width: 15.46%; vertical-align: bottom;">
            <div style="text-align: center;"><font style="font-family: 'Times New Roman'; font-weight: bold;">held by</font><font style="font-family: 'Times New Roman';">&#160;</font></div>
          </td>
        </tr>
        <tr>
          <td style="width: 16.5%; vertical-align: bottom; font-family: 'Times New Roman';">
            <div>&#160;</div>
          </td>
          <td style="width: 10.3%; vertical-align: bottom; font-family: 'Times New Roman';">
            <div>&#160;</div>
          </td>
          <td style="width: 9.28%; vertical-align: bottom;">
            <div style="text-align: center;"><font style="font-family: 'Times New Roman'; font-weight: bold;">and</font><font style="font-family: 'Times New Roman';">&#160;</font></div>
          </td>
          <td style="width: 35.06%; vertical-align: bottom; font-family: 'Times New Roman';">
            <div>&#160;</div>
          </td>
          <td style="width: 13.4%; vertical-align: bottom;">
            <div style="text-align: center;"><font style="font-family: 'Times New Roman'; font-weight: bold;">Portfolios in</font><font style="font-family: 'Times New Roman';">&#160;</font></div>
          </td>
          <td style="width: 15.46%; vertical-align: bottom;">
            <div style="text-align: center;"><font style="font-family: 'Times New Roman'; font-weight: bold;">Trustee</font><font style="font-family: 'Times New Roman';">&#160;</font></div>
          </td>
        </tr>
        <tr>
          <td style="width: 16.5%; vertical-align: bottom;">
            <div><font style="font-family: 'Times New Roman'; font-weight: bold;">Name,</font><font style="font-family: 'Times New Roman';">&#160;</font></div>
          </td>
          <td style="vertical-align: bottom;">
            <div style="text-align: center;"><font style="font-family: 'Times New Roman'; font-weight: bold;">Position(s)</font></div>
          </td>
          <td style="vertical-align: bottom;">
            <div style="text-align: center;"><font style="font-family: 'Times New Roman'; font-weight: bold;">&#160;Length</font><font style="font-family: 'Times New Roman';"> <br>
              </font></div>
          </td>
          <td style="width: 35.06%; vertical-align: bottom; font-family: 'Times New Roman';">
            <div>&#160;</div>
          </td>
          <td style="width: 13.4%; vertical-align: bottom;">
            <div style="text-align: center;"><font style="font-family: 'Times New Roman'; font-weight: bold;">Fund Complex</font><font style="font-family: 'Times New Roman';">&#160;</font></div>
          </td>
          <td style="width: 15.46%; vertical-align: bottom;">
            <div style="text-align: center;"><font style="font-family: 'Times New Roman'; font-weight: bold;">During</font><font style="font-family: 'Times New Roman';">&#160;</font></div>
          </td>
        </tr>
        <tr>
          <td style="width: 16.5%; vertical-align: bottom;">
            <div><font style="font-family: 'Times New Roman'; font-weight: bold;">Address</font><font style="font-family: 'Times New Roman';"><sup style="font-weight: bold; vertical-align: text-top; line-height: 1; font-size: smaller;">(1)</sup>&#160;</font></div>
          </td>
          <td style="width: 10.3%; vertical-align: bottom;">
            <div style="text-align: center;"><font style="font-family: 'Times New Roman'; font-weight: bold;">Held with</font><font style="font-family: 'Times New Roman';">&#160;</font></div>
          </td>
          <td style="width: 9.28%; vertical-align: bottom;">
            <div style="text-align: center;"><font style="font-family: 'Times New Roman'; font-weight: bold;">of Time</font><font style="font-family: 'Times New Roman';">&#160;</font></div>
          </td>
          <td style="width: 35.06%; vertical-align: bottom;">
            <div style="text-align: center;"><font style="font-family: 'Times New Roman'; font-weight: bold;">Principal Occupation</font><font style="font-family: 'Times New Roman';">&#160;</font></div>
          </td>
          <td style="width: 13.4%; vertical-align: bottom;">
            <div style="text-align: center;"><font style="font-family: 'Times New Roman'; font-weight: bold;">Overseen by</font><font style="font-family: 'Times New Roman';">&#160;</font></div>
          </td>
          <td style="width: 15.46%; vertical-align: bottom;">
            <div style="text-align: center;"><font style="font-family: 'Times New Roman'; font-weight: bold;">the Past</font><font style="font-family: 'Times New Roman';">&#160;</font></div>
          </td>
        </tr>
        <tr>
          <td style="width: 16.5%; vertical-align: bottom; border-bottom: #000000 2px solid;">
            <div><font style="font-family: 'Times New Roman'; font-weight: bold;">and Age</font><font style="font-family: 'Times New Roman';">&#160;</font></div>
          </td>
          <td style="width: 10.3%; vertical-align: bottom; border-bottom: #000000 2px solid;">
            <div style="text-align: center;"><font style="font-family: 'Times New Roman'; font-weight: bold;">Funds</font><font style="font-family: 'Times New Roman';">&#160;</font></div>
          </td>
          <td style="width: 9.28%; vertical-align: bottom; border-bottom: #000000 2px solid;">
            <div style="text-align: center;"><font style="font-family: 'Times New Roman'; font-weight: bold;">Served</font><font style="font-family: 'Times New Roman';">&#160;</font></div>
          </td>
          <td style="width: 35.06%; vertical-align: bottom; border-bottom: #000000 2px solid;">
            <div style="text-align: center;"><font style="font-family: 'Times New Roman'; font-weight: bold;">During The Past Five Years</font><font style="font-family: 'Times New Roman';">&#160;</font></div>
          </td>
          <td style="width: 13.4%; vertical-align: bottom; border-bottom: #000000 2px solid;">
            <div style="text-align: center;"><font style="font-family: 'Times New Roman'; font-weight: bold;">Trustee</font><font style="font-family: 'Times New Roman';">&#160;</font></div>
          </td>
          <td style="width: 15.46%; vertical-align: bottom; border-bottom: #000000 2px solid;">
            <div style="text-align: center;"><font style="font-family: 'Times New Roman'; font-weight: bold;">Five Years</font><font style="font-family: 'Times New Roman';">&#160;</font></div>
          </td>
        </tr>
        <tr>
          <td colspan="6" style="vertical-align: middle; font-family: 'Times New Roman';">
            <div>&#160;</div>
          </td>
        </tr>
        <tr>
          <td colspan="2" style="vertical-align: bottom;">
            <div><font style="font-family: 'Times New Roman'; font-style: italic;">INDEPENDENT TRUSTEES:</font><font style="font-family: 'Times New Roman';">&#160;</font></div>
          </td>
          <td style="width: 9.28%; vertical-align: bottom; font-family: 'Times New Roman';">
            <div>&#160;</div>
          </td>
          <td style="width: 35.06%; vertical-align: bottom; font-family: 'Times New Roman';">
            <div>&#160;</div>
          </td>
          <td style="width: 13.4%; vertical-align: bottom; font-family: 'Times New Roman';">
            <div>&#160;</div>
          </td>
          <td style="width: 15.46%; vertical-align: bottom; font-family: 'Times New Roman';">
            <div>&#160;</div>
          </td>
        </tr>
        <tr>
          <td colspan="6" style="vertical-align: middle; font-family: 'Times New Roman';">
            <div>&#160;</div>
          </td>
        </tr>
        <tr>
          <td style="width: 16.5%; vertical-align: bottom;">
            <div><font style="font-family: 'Times New Roman';">Randall C. Barnes</font><font style="font-family: 'Times New Roman';">&#160;</font></div>
          </td>
          <td style="width: 10.3%; vertical-align: bottom;">
            <div style="text-align: center;"><font style="font-family: 'Times New Roman';">Trustee</font><font style="font-family: 'Times New Roman';">&#160;</font></div>
          </td>
          <td style="width: 9.28%; vertical-align: bottom;">
            <div style="text-align: center;"><font style="font-family: 'Times New Roman';">&#8224;</font><font style="font-family: 'Times New Roman';">&#160;</font></div>
          </td>
          <td style="width: 35.06%; vertical-align: bottom;">
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          </td>
          <td style="width: 13.4%; vertical-align: bottom;">
            <div style="text-align: center;"><font style="font-family: 'Times New Roman';">157</font><font style="font-family: 'Times New Roman';">&#160;</font></div>
          </td>
          <td style="width: 15.46%; vertical-align: bottom;">
            <div style="text-indent: 0.2pt;"><font style="font-family: 'Times New Roman';">Current: Purpose</font><font style="font-family: 'Times New Roman';">&#160;</font></div>
          </td>
        </tr>
        <tr>
          <td style="width: 16.5%; vertical-align: bottom;">
            <div><font style="font-family: 'Times New Roman';">Year of birth: 1951</font><font style="font-family: 'Times New Roman';">&#160;</font></div>
          </td>
          <td style="width: 10.3%; vertical-align: bottom; font-family: 'Times New Roman';">
            <div>&#160;</div>
          </td>
          <td style="width: 9.28%; vertical-align: bottom; font-family: 'Times New Roman';">
            <div style="text-align: center;">&#160;</div>
          </td>
          <td style="width: 35.06%; vertical-align: bottom; font-family: 'Times New Roman';">
            <div>&#160;</div>
          </td>
          <td style="width: 13.4%; vertical-align: bottom; font-family: 'Times New Roman';">
            <div>&#160;</div>
          </td>
          <td style="width: 15.46%; vertical-align: bottom;">
            <div style="text-indent: 0.2pt;"><font style="font-family: 'Times New Roman';">Investments</font><font style="font-family: 'Times New Roman';">&#160;</font></div>
          </td>
        </tr>
        <tr>
          <td style="width: 16.5%; vertical-align: bottom; font-family: 'Times New Roman';">
            <div>&#160;</div>
          </td>
          <td style="width: 10.3%; vertical-align: bottom; font-family: 'Times New Roman';">
            <div>&#160;</div>
          </td>
          <td style="width: 9.28%; vertical-align: bottom; font-family: 'Times New Roman';">
            <div style="text-align: center;">&#160;</div>
          </td>
          <td style="width: 35.06%; vertical-align: bottom;">
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          </td>
          <td style="width: 13.4%; vertical-align: bottom; font-family: 'Times New Roman';">
            <div>&#160;</div>
          </td>
          <td style="width: 15.46%; vertical-align: bottom;">
            <div style="text-indent: 0.2pt;"><font style="font-family: 'Times New Roman';">Funds</font><font style="font-family: 'Times New Roman';">&#160;</font></div>
          </td>
        </tr>
        <tr>
          <td style="width: 16.5%; vertical-align: bottom; font-family: 'Times New Roman';">
            <div>&#160;</div>
          </td>
          <td style="width: 10.3%; vertical-align: bottom; font-family: 'Times New Roman';">
            <div>&#160;</div>
          </td>
          <td style="width: 9.28%; vertical-align: bottom; font-family: 'Times New Roman';">
            <div style="text-align: center;">&#160;</div>
          </td>
          <td style="width: 35.06%; vertical-align: bottom;">
            <div style="text-indent: 0.2pt;"><font style="font-family: 'Times New Roman';">Treasurer, PepsiCo, Inc. (1993-1997),</font><font style="font-family: 'Times New Roman';">&#160;</font></div>
          </td>
          <td style="width: 13.4%; vertical-align: bottom; font-family: 'Times New Roman';">
            <div>&#160;</div>
          </td>
          <td style="width: 15.46%; vertical-align: bottom;">
            <div style="text-indent: 0.2pt;"><font style="font-family: 'Times New Roman';">(2013-present).</font><font style="font-family: 'Times New Roman';">&#160;</font></div>
          </td>
        </tr>
        <tr>
          <td colspan="3" style="vertical-align: bottom; font-family: 'Times New Roman';">
            <div style="text-align: center;"><br>
            </div>
          </td>
          <td style="width: 35.06%; vertical-align: bottom; font-family: 'Times New Roman';">
            <div>President, Pizza Hut International</div>
          </td>
          <td style="width: 13.4%; vertical-align: bottom; font-family: 'Times New Roman';">&#160;</td>
          <td style="width: 15.46%; vertical-align: bottom; font-family: 'Times New Roman';">&#160;</td>
        </tr>
        <tr>
          <td style="width: 16.5%; vertical-align: bottom; font-family: 'Times New Roman';">
            <div>&#160;</div>
          </td>
          <td style="width: 10.3%; vertical-align: bottom; font-family: 'Times New Roman';">
            <div>&#160;</div>
          </td>
          <td style="width: 9.28%; vertical-align: bottom; font-family: 'Times New Roman';">
            <div style="text-align: center;">&#160;</div>
          </td>
          <td style="width: 35.06%; vertical-align: bottom;">
            <div><font style="font-family: 'Times New Roman';">(1991-1993) and Senior Vice President,</font><font style="font-family: 'Times New Roman';">&#160;</font></div>
          </td>
          <td style="width: 13.4%; vertical-align: bottom; font-family: 'Times New Roman';">
            <div>&#160;</div>
          </td>
          <td style="width: 15.46%; vertical-align: bottom; font-family: 'Times New Roman';">
            <div>&#160;</div>
          </td>
        </tr>
        <tr>
          <td style="width: 16.5%; vertical-align: bottom; font-family: 'Times New Roman';">
            <div>&#160;</div>
          </td>
          <td style="width: 10.3%; vertical-align: bottom; font-family: 'Times New Roman';">
            <div>&#160;</div>
          </td>
          <td style="width: 9.28%; vertical-align: bottom; font-family: 'Times New Roman';">
            <div style="text-align: center;">&#160;</div>
          </td>
          <td style="width: 35.06%; vertical-align: bottom;">
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          </td>
          <td style="width: 13.4%; vertical-align: bottom; font-family: 'Times New Roman';">
            <div>&#160;</div>
          </td>
          <td style="width: 15.46%; vertical-align: bottom;">
            <div style="text-indent: 0.2pt;"><font style="font-family: 'Times New Roman';">Former: Managed</font><font style="font-family: 'Times New Roman';">&#160;</font></div>
          </td>
        </tr>
        <tr>
          <td style="width: 16.5%; vertical-align: bottom; font-family: 'Times New Roman';">
            <div>&#160;</div>
          </td>
          <td style="width: 10.3%; vertical-align: bottom; font-family: 'Times New Roman';">
            <div>&#160;</div>
          </td>
          <td style="width: 9.28%; vertical-align: bottom; font-family: 'Times New Roman';">
            <div style="text-align: center;">&#160;</div>
          </td>
          <td colspan="2" style="vertical-align: bottom;">
            <div><font style="font-family: 'Times New Roman';">Development, PepsiCo, Inc. (1987-1990).</font><font style="font-family: 'Times New Roman';">&#160;</font></div>
          </td>
          <td style="width: 15.46%; vertical-align: bottom;">
            <div style="text-indent: 0.2pt;"><font style="font-family: 'Times New Roman';">Duration</font><font style="font-family: 'Times New Roman';">&#160;</font></div>
          </td>
        </tr>
        <tr>
          <td style="width: 16.5%; vertical-align: bottom; font-family: 'Times New Roman';">
            <div>&#160;</div>
          </td>
          <td style="width: 10.3%; vertical-align: bottom; font-family: 'Times New Roman';">
            <div>&#160;</div>
          </td>
          <td style="width: 9.28%; vertical-align: bottom; font-family: 'Times New Roman';">
            <div style="text-align: center;">&#160;</div>
          </td>
          <td style="width: 35.06%; vertical-align: bottom; font-family: 'Times New Roman';">
            <div>&#160;</div>
          </td>
          <td style="width: 13.4%; vertical-align: bottom; font-family: 'Times New Roman';">
            <div>&#160;</div>
          </td>
          <td style="width: 15.46%; vertical-align: bottom;">
            <div style="text-indent: 0.2pt;"><font style="font-family: 'Times New Roman';">Investment Grade</font><font style="font-family: 'Times New Roman';">&#160;</font></div>
          </td>
        </tr>
        <tr>
          <td style="width: 16.5%; vertical-align: bottom; font-family: 'Times New Roman';">
            <div>&#160;</div>
          </td>
          <td style="width: 10.3%; vertical-align: bottom; font-family: 'Times New Roman';">
            <div>&#160;</div>
          </td>
          <td style="width: 9.28%; vertical-align: bottom; font-family: 'Times New Roman';">
            <div style="text-align: center;">&#160;</div>
          </td>
          <td style="width: 35.06%; vertical-align: bottom; font-family: 'Times New Roman';">
            <div>&#160;</div>
          </td>
          <td style="width: 13.4%; vertical-align: bottom; font-family: 'Times New Roman';">
            <div>&#160;</div>
          </td>
          <td style="width: 15.46%; vertical-align: bottom;">
            <div><font style="font-family: 'Times New Roman';">Municipal Fund</font><font style="font-family: 'Times New Roman';">&#160;</font></div>
          </td>
        </tr>
        <tr>
          <td style="width: 16.5%; vertical-align: bottom; font-family: 'Times New Roman';">
            <div>&#160;</div>
          </td>
          <td style="width: 10.3%; vertical-align: bottom; font-family: 'Times New Roman';">
            <div>&#160;</div>
          </td>
          <td style="width: 9.28%; vertical-align: bottom; font-family: 'Times New Roman';">
            <div style="text-align: center;">&#160;</div>
          </td>
          <td style="width: 35.06%; vertical-align: bottom; font-family: 'Times New Roman';">
            <div>&#160;</div>
          </td>
          <td style="width: 13.4%; vertical-align: bottom; font-family: 'Times New Roman';">
            <div>&#160;</div>
          </td>
          <td style="width: 15.46%; vertical-align: bottom;">
            <div><font style="font-family: 'Times New Roman';">(2003-2016).</font><font style="font-family: 'Times New Roman';">&#160;</font></div>
          </td>
        </tr>
        <tr>
          <td colspan="6" style="vertical-align: middle; font-family: 'Times New Roman';">
            <div>&#160;</div>
          </td>
        </tr>
        <tr>
          <td style="width: 16.5%; vertical-align: bottom;">
            <div><font style="font-family: 'Times New Roman';">Angela Brock-Kyle</font><font style="font-family: 'Times New Roman';">&#160;</font></div>
          </td>
          <td style="width: 10.3%; vertical-align: bottom;">
            <div style="text-align: center;"><font style="font-family: 'Times New Roman';">Trustee</font><font style="font-family: 'Times New Roman';">&#160;</font></div>
          </td>
          <td style="width: 9.28%; vertical-align: bottom;">
            <div style="text-align: center;"><font style="font-family: 'Times New Roman';">&#8224;</font><font style="font-family: 'Times New Roman';">&#160;</font></div>
          </td>
          <td style="width: 35.06%; vertical-align: bottom;">
            <div style="text-indent: 0.2pt;"><font style="font-family: 'Times New Roman';">Current: Founder and Chief Executive</font><font style="font-family: 'Times New Roman';">&#160;</font></div>
          </td>
          <td style="width: 13.4%; vertical-align: bottom;">
            <div style="text-align: center;"><font style="font-family: 'Times New Roman';">156</font><font style="font-family: 'Times New Roman';">&#160;</font></div>
          </td>
          <td style="width: 15.46%; vertical-align: bottom;">
            <div style="text-indent: 0.2pt;"><font style="font-family: 'Times New Roman';">Current: Hunt</font><font style="font-family: 'Times New Roman';">&#160;</font></div>
          </td>
        </tr>
        <tr>
          <td style="width: 16.5%; vertical-align: bottom;">
            <div><font style="font-family: 'Times New Roman';">Year of Birth: 1959</font><font style="font-family: 'Times New Roman';">&#160;</font></div>
          </td>
          <td style="width: 10.3%; vertical-align: bottom; font-family: 'Times New Roman';">
            <div>&#160;</div>
          </td>
          <td style="width: 9.28%; vertical-align: bottom; font-family: 'Times New Roman';">
            <div style="text-align: center;">&#160;</div>
          </td>
          <td style="width: 35.06%; vertical-align: bottom;">
            <div style="text-indent: 0.2pt;"><font style="font-family: 'Times New Roman';">Officer, B.O.A.R.D.S. (2013-present).</font><font style="font-family: 'Times New Roman';">&#160;</font></div>
          </td>
          <td style="width: 13.4%; vertical-align: bottom; font-family: 'Times New Roman';">
            <div>&#160;</div>
          </td>
          <td style="width: 15.46%; vertical-align: bottom;">
            <div style="text-indent: 0.2pt;"><font style="font-family: 'Times New Roman';">Companies, Inc.</font><font style="font-family: 'Times New Roman';">&#160;</font></div>
          </td>
        </tr>
        <tr>
          <td style="width: 16.5%; vertical-align: bottom; font-family: 'Times New Roman';">
            <div>&#160;</div>
          </td>
          <td style="width: 10.3%; vertical-align: bottom; font-family: 'Times New Roman';">
            <div>&#160;</div>
          </td>
          <td style="width: 9.28%; vertical-align: bottom; font-family: 'Times New Roman';">
            <div style="text-align: center;">&#160;</div>
          </td>
          <td style="width: 35.06%; vertical-align: bottom; font-family: 'Times New Roman';">
            <div>&#160;</div>
          </td>
          <td style="width: 13.4%; vertical-align: bottom; font-family: 'Times New Roman';">
            <div>&#160;</div>
          </td>
          <td style="width: 15.46%; vertical-align: bottom;">
            <div style="text-indent: 0.2pt;"><font style="font-family: 'Times New Roman';">(2019-present).</font><font style="font-family: 'Times New Roman';">&#160;</font></div>
          </td>
        </tr>
        <tr>
          <td style="width: 16.5%; vertical-align: bottom; font-family: 'Times New Roman';">
            <div>&#160;</div>
          </td>
          <td style="width: 10.3%; vertical-align: bottom; font-family: 'Times New Roman';">
            <div>&#160;</div>
          </td>
          <td style="width: 9.28%; vertical-align: bottom; font-family: 'Times New Roman';">
            <div style="text-align: center;">&#160;</div>
          </td>
          <td colspan="2" style="vertical-align: bottom;">
            <div><font style="font-family: 'Times New Roman';">Former: Senior Leader, TIAA (1987-2012).</font><font style="font-family: 'Times New Roman';">&#160;</font></div>
          </td>
          <td style="width: 15.46%; vertical-align: bottom; font-family: 'Times New Roman';">
            <div>&#160;</div>
          </td>
        </tr>
        <tr>
          <td style="width: 16.5%; vertical-align: bottom; font-family: 'Times New Roman';">
            <div>&#160;</div>
          </td>
          <td style="width: 10.3%; vertical-align: bottom; font-family: 'Times New Roman';">
            <div>&#160;</div>
          </td>
          <td style="width: 9.28%; vertical-align: bottom; font-family: 'Times New Roman';">
            <div style="text-align: center;">&#160;</div>
          </td>
          <td style="width: 35.06%; vertical-align: bottom; font-family: 'Times New Roman';">
            <div>&#160;</div>
          </td>
          <td style="width: 13.4%; vertical-align: bottom; font-family: 'Times New Roman';">
            <div>&#160;</div>
          </td>
          <td style="width: 15.46%; vertical-align: bottom;">
            <div style="text-indent: 0.2pt;"><font style="font-family: 'Times New Roman';">Former: Infinity</font><font style="font-family: 'Times New Roman';">&#160;</font></div>
          </td>
        </tr>
        <tr>
          <td style="width: 16.5%; vertical-align: bottom; font-family: 'Times New Roman';">
            <div>&#160;</div>
          </td>
          <td style="width: 10.3%; vertical-align: bottom; font-family: 'Times New Roman';">
            <div>&#160;</div>
          </td>
          <td style="width: 9.28%; vertical-align: bottom; font-family: 'Times New Roman';">
            <div style="text-align: center;">&#160;</div>
          </td>
          <td style="width: 35.06%; vertical-align: bottom; font-family: 'Times New Roman';">
            <div>&#160;</div>
          </td>
          <td style="width: 13.4%; vertical-align: bottom; font-family: 'Times New Roman';">
            <div>&#160;</div>
          </td>
          <td style="width: 15.46%; vertical-align: bottom;">
            <div><font style="font-family: 'Times New Roman';">Property &amp;</font><font style="font-family: 'Times New Roman';">&#160;</font></div>
          </td>
        </tr>
        <tr>
          <td style="width: 16.5%; vertical-align: bottom; font-family: 'Times New Roman';">
            <div>&#160;</div>
          </td>
          <td style="width: 10.3%; vertical-align: bottom; font-family: 'Times New Roman';">
            <div>&#160;</div>
          </td>
          <td style="width: 9.28%; vertical-align: bottom; font-family: 'Times New Roman';">
            <div style="text-align: center;">&#160;</div>
          </td>
          <td style="width: 35.06%; vertical-align: bottom; font-family: 'Times New Roman';">
            <div>&#160;</div>
          </td>
          <td style="width: 13.4%; vertical-align: bottom; font-family: 'Times New Roman';">
            <div>&#160;</div>
          </td>
          <td style="width: 15.46%; vertical-align: bottom;">
            <div><font style="font-family: 'Times New Roman';">Casualty Corp.</font><font style="font-family: 'Times New Roman';">&#160;</font></div>
          </td>
        </tr>
        <tr>
          <td style="width: 16.5%; vertical-align: bottom; font-family: 'Times New Roman';">
            <div>&#160;</div>
          </td>
          <td style="width: 10.3%; vertical-align: bottom; font-family: 'Times New Roman';">
            <div>&#160;</div>
          </td>
          <td style="width: 9.28%; vertical-align: bottom; font-family: 'Times New Roman';">
            <div style="text-align: center;">&#160;</div>
          </td>
          <td style="width: 35.06%; vertical-align: bottom; font-family: 'Times New Roman';">
            <div>&#160;</div>
          </td>
          <td style="width: 13.4%; vertical-align: bottom; font-family: 'Times New Roman';">
            <div>&#160;</div>
          </td>
          <td style="width: 15.46%; vertical-align: bottom;">
            <div><font style="font-family: 'Times New Roman';">(2014-2018).</font><font style="font-family: 'Times New Roman';">&#160;</font></div>
          </td>
        </tr>
        <tr>
          <td colspan="6" style="vertical-align: middle; font-family: 'Times New Roman';">
            <div>&#160;</div>
          </td>
        </tr>
        <tr>
          <td style="width: 16.5%; vertical-align: bottom;">
            <div><font style="font-family: 'Times New Roman';">Donald A.</font><font style="font-family: 'Times New Roman';">&#160;</font></div>
          </td>
          <td style="width: 10.3%; vertical-align: bottom;">
            <div style="text-align: center;"><font style="font-family: 'Times New Roman';">Trustee</font><font style="font-family: 'Times New Roman';">&#160;</font></div>
          </td>
          <td style="width: 9.28%; vertical-align: bottom;">
            <div style="text-align: center;"><font style="font-family: 'Times New Roman';">&#8224;</font><font style="font-family: 'Times New Roman';">&#160;</font></div>
          </td>
          <td style="width: 35.06%; vertical-align: bottom;">
            <div style="text-indent: 0.2pt;"><font style="font-family: 'Times New Roman';">Current: Retired</font><font style="font-family: 'Times New Roman';">&#160;</font></div>
          </td>
          <td style="width: 13.4%; vertical-align: bottom;">
            <div style="text-align: center;"><font style="font-family: 'Times New Roman';">156</font><font style="font-family: 'Times New Roman';">&#160;</font></div>
          </td>
          <td style="width: 15.46%; vertical-align: bottom;">
            <div style="text-indent: 0.2pt;"><font style="font-family: 'Times New Roman';">Former: Midland</font><font style="font-family: 'Times New Roman';">&#160;</font></div>
          </td>
        </tr>
        <tr>
          <td style="width: 16.5%; vertical-align: bottom;">
            <div><font style="font-family: 'Times New Roman';">Chubb, Jr.</font><font style="font-family: 'Times New Roman';">&#160;</font></div>
          </td>
          <td style="width: 10.3%; vertical-align: bottom; font-family: 'Times New Roman';">
            <div>&#160;</div>
          </td>
          <td style="width: 9.28%; vertical-align: bottom; font-family: 'Times New Roman';">
            <div style="text-align: center;">&#160;</div>
          </td>
          <td style="width: 35.06%; vertical-align: bottom; font-family: 'Times New Roman';">
            <div>&#160;</div>
          </td>
          <td style="width: 13.4%; vertical-align: bottom; font-family: 'Times New Roman';">
            <div>&#160;</div>
          </td>
          <td style="width: 15.46%; vertical-align: bottom;">
            <div style="text-indent: 0.2pt;"><font style="font-family: 'Times New Roman';">Care, Inc.</font><font style="font-family: 'Times New Roman';">&#160;</font></div>
          </td>
        </tr>
        <tr>
          <td style="width: 16.5%; vertical-align: bottom;">
            <div><font style="font-family: 'Times New Roman';">Year of Birth: 1946</font><font style="font-family: 'Times New Roman';">&#160;</font></div>
          </td>
          <td style="width: 10.3%; vertical-align: bottom; font-family: 'Times New Roman';">
            <div>&#160;</div>
          </td>
          <td style="width: 9.28%; vertical-align: bottom; font-family: 'Times New Roman';">
            <div style="text-align: center;">&#160;</div>
          </td>
          <td style="width: 35.06%; vertical-align: bottom;">
            <div style="text-indent: 0.2pt;"><font style="font-family: 'Times New Roman';">Former: Business broker and manager of</font><font style="font-family: 'Times New Roman';">&#160;</font></div>
          </td>
          <td style="width: 13.4%; vertical-align: bottom; font-family: 'Times New Roman';">
            <div>&#160;</div>
          </td>
          <td style="width: 15.46%; vertical-align: bottom;">
            <div style="text-indent: 0.2pt;"><font style="font-family: 'Times New Roman';">(2011-2016).</font><font style="font-family: 'Times New Roman';">&#160;</font></div>
          </td>
        </tr>
        <tr>
          <td style="width: 16.5%; vertical-align: bottom; font-family: 'Times New Roman';">
            <div>&#160;</div>
          </td>
          <td style="width: 10.3%; vertical-align: bottom; font-family: 'Times New Roman';">
            <div>&#160;</div>
          </td>
          <td style="width: 9.28%; vertical-align: bottom; font-family: 'Times New Roman';">
            <div style="text-align: center;">&#160;</div>
          </td>
          <td style="width: 35.06%; vertical-align: bottom;">
            <div style="text-indent: 0.2pt;"><font style="font-family: 'Times New Roman';">commercial real estate, Griffith &amp; Blair,</font><font style="font-family: 'Times New Roman';">&#160;</font></div>
          </td>
          <td style="width: 13.4%; vertical-align: bottom; font-family: 'Times New Roman';">
            <div>&#160;</div>
          </td>
          <td style="width: 15.46%; vertical-align: bottom; font-family: 'Times New Roman';">
            <div>&#160;</div>
          </td>
        </tr>
        <tr>
          <td style="width: 16.5%; vertical-align: bottom; font-family: 'Times New Roman';">
            <div>&#160;</div>
          </td>
          <td style="width: 10.3%; vertical-align: bottom; font-family: 'Times New Roman';">
            <div>&#160;</div>
          </td>
          <td style="width: 9.28%; vertical-align: bottom; font-family: 'Times New Roman';">
            <div style="text-align: center;">&#160;</div>
          </td>
          <td style="width: 35.06%; vertical-align: bottom;">
            <div style="text-indent: 0.2pt;"><font style="font-family: 'Times New Roman';">Inc. (1997-2017).</font><font style="font-family: 'Times New Roman';">&#160;</font></div>
          </td>
          <td style="width: 13.4%; vertical-align: bottom; font-family: 'Times New Roman';">
            <div>&#160;</div>
          </td>
          <td style="width: 15.46%; vertical-align: bottom; font-family: 'Times New Roman';">
            <div>&#160;</div>
          </td>
        </tr>
        <tr>
          <td colspan="6" style="vertical-align: middle; font-family: 'Times New Roman';">
            <div>&#160;</div>
          </td>
        </tr>
        <tr>
          <td style="width: 16.5%; vertical-align: bottom;">
            <div><font style="font-family: 'Times New Roman';">Jerry B. Farley</font><font style="font-family: 'Times New Roman';">&#160;</font></div>
          </td>
          <td style="width: 10.3%; vertical-align: bottom;">
            <div style="text-align: center;"><font style="font-family: 'Times New Roman';">Trustee</font><font style="font-family: 'Times New Roman';">&#160;</font></div>
          </td>
          <td style="width: 9.28%; vertical-align: bottom;">
            <div style="text-align: center;"><font style="font-family: 'Times New Roman';">&#8224;</font><font style="font-family: 'Times New Roman';">&#160;</font></div>
          </td>
          <td style="width: 35.06%; vertical-align: bottom;">
            <div style="text-indent: 0.2pt;"><font style="font-family: 'Times New Roman';">Current: President, Washburn University</font><font style="font-family: 'Times New Roman';">&#160;</font></div>
          </td>
          <td style="width: 13.4%; vertical-align: bottom;">
            <div style="text-align: center;"><font style="font-family: 'Times New Roman';">156</font><font style="font-family: 'Times New Roman';">&#160;</font></div>
          </td>
          <td style="width: 15.46%; vertical-align: bottom;">
            <div style="text-indent: 0.2pt;"><font style="font-family: 'Times New Roman';">Current: CoreFirst</font><font style="font-family: 'Times New Roman';">&#160;</font></div>
          </td>
        </tr>
        <tr>
          <td style="width: 16.5%; vertical-align: bottom;">
            <div><font style="font-family: 'Times New Roman';">Year of Birth: 1946</font><font style="font-family: 'Times New Roman';">&#160;</font></div>
          </td>
          <td style="width: 10.3%; vertical-align: bottom; font-family: 'Times New Roman';">
            <div>&#160;</div>
          </td>
          <td style="width: 9.28%; vertical-align: bottom; font-family: 'Times New Roman';">
            <div style="text-align: center;">&#160;</div>
          </td>
          <td style="width: 35.06%; vertical-align: bottom;">
            <div style="text-indent: 0.2pt;"><font style="font-family: 'Times New Roman';">(1997-present).</font><font style="font-family: 'Times New Roman';">&#160;</font></div>
          </td>
          <td style="width: 13.4%; vertical-align: bottom; font-family: 'Times New Roman';">
            <div>&#160;</div>
          </td>
          <td style="width: 15.46%; vertical-align: bottom;">
            <div style="text-indent: 0.2pt;"><font style="font-family: 'Times New Roman';">Bank &amp; Trust</font><font style="font-family: 'Times New Roman';">&#160;</font></div>
          </td>
        </tr>
        <tr>
          <td style="width: 16.5%; vertical-align: bottom; font-family: 'Times New Roman';">
            <div>&#160;</div>
          </td>
          <td style="width: 10.3%; vertical-align: bottom; font-family: 'Times New Roman';">
            <div>&#160;</div>
          </td>
          <td style="width: 9.28%; vertical-align: bottom; font-family: 'Times New Roman';">
            <div style="text-align: center;">&#160;</div>
          </td>
          <td style="width: 35.06%; vertical-align: bottom; font-family: 'Times New Roman';">
            <div>&#160;</div>
          </td>
          <td style="width: 13.4%; vertical-align: bottom; font-family: 'Times New Roman';">
            <div>&#160;</div>
          </td>
          <td style="width: 15.46%; vertical-align: bottom;">
            <div><font style="font-family: 'Times New Roman';">(2000-present).</font><font style="font-family: 'Times New Roman';">&#160;</font></div>
          </td>
        </tr>
        <tr>
          <td colspan="6" style="vertical-align: middle; font-family: 'Times New Roman';">
            <div>&#160;</div>
          </td>
        </tr>
        <tr>
          <td style="width: 16.5%; vertical-align: bottom; font-family: 'Times New Roman';">
            <div>&#160;</div>
          </td>
          <td style="width: 10.3%; vertical-align: bottom; font-family: 'Times New Roman';">
            <div>&#160;</div>
          </td>
          <td style="width: 9.28%; vertical-align: bottom; font-family: 'Times New Roman';">
            <div style="text-align: center;">&#160;</div>
          </td>
          <td style="width: 35.06%; vertical-align: bottom; font-family: 'Times New Roman';">
            <div>&#160;</div>
          </td>
          <td style="width: 13.4%; vertical-align: bottom; font-family: 'Times New Roman';">
            <div>&#160;</div>
          </td>
          <td style="width: 15.46%; vertical-align: bottom;">
            <div><font style="font-family: 'Times New Roman';">Former: Westar</font><font style="font-family: 'Times New Roman';">&#160;</font></div>
          </td>
        </tr>
        <tr>
          <td style="width: 16.5%; vertical-align: bottom; font-family: 'Times New Roman';">
            <div>&#160;</div>
          </td>
          <td style="width: 10.3%; vertical-align: bottom; font-family: 'Times New Roman';">
            <div>&#160;</div>
          </td>
          <td style="width: 9.28%; vertical-align: bottom; font-family: 'Times New Roman';">
            <div style="text-align: center;">&#160;</div>
          </td>
          <td style="width: 35.06%; vertical-align: bottom; font-family: 'Times New Roman';">
            <div>&#160;</div>
          </td>
          <td style="width: 13.4%; vertical-align: bottom; font-family: 'Times New Roman';">
            <div>&#160;</div>
          </td>
          <td style="width: 15.46%; vertical-align: bottom;">
            <div><font style="font-family: 'Times New Roman';">Energy, Inc.</font><font style="font-family: 'Times New Roman';">&#160;</font></div>
          </td>
        </tr>
        <tr>
          <td style="width: 16.5%; vertical-align: bottom; font-family: 'Times New Roman';">
            <div>&#160;</div>
          </td>
          <td style="width: 10.3%; vertical-align: bottom; font-family: 'Times New Roman';">
            <div>&#160;</div>
          </td>
          <td style="width: 9.28%; vertical-align: bottom; font-family: 'Times New Roman';">
            <div style="text-align: center;">&#160;</div>
          </td>
          <td style="width: 35.06%; vertical-align: bottom; font-family: 'Times New Roman';">
            <div>&#160;</div>
          </td>
          <td style="width: 13.4%; vertical-align: bottom; font-family: 'Times New Roman';">
            <div>&#160;</div>
          </td>
          <td style="width: 15.46%; vertical-align: bottom;">
            <div><font style="font-family: 'Times New Roman';">(2004-2018).</font><font style="font-family: 'Times New Roman';">&#160;</font></div>
          </td>
        </tr>
        <tr>
          <td colspan="6" style="vertical-align: middle; font-family: 'Times New Roman';">
            <div>&#160;</div>
          </td>
        </tr>
        <tr>
          <td style="width: 16.5%; vertical-align: bottom;">
            <div><font style="font-family: 'Times New Roman';">Roman</font><font style="font-family: 'Times New Roman';">&#160;</font></div>
          </td>
          <td style="width: 10.3%; vertical-align: bottom;">
            <div style="text-align: center;"><font style="font-family: 'Times New Roman';">Trustee</font><font style="font-family: 'Times New Roman';">&#160;</font></div>
          </td>
          <td style="width: 9.28%; vertical-align: bottom;">
            <div style="text-align: center;"><font style="font-family: 'Times New Roman';">&#8224;</font><font style="font-family: 'Times New Roman';">&#160;</font></div>
          </td>
          <td style="width: 35.06%; vertical-align: bottom;">
            <div style="text-indent: 0.2pt;"><font style="font-family: 'Times New Roman';">Current: Founder and Managing Partner</font><font style="font-family: 'Times New Roman';">&#160;</font></div>
          </td>
          <td style="width: 13.4%; vertical-align: bottom;">
            <div style="text-align: center;"><font style="font-family: 'Times New Roman';">156</font><font style="font-family: 'Times New Roman';">&#160;</font></div>
          </td>
          <td style="width: 15.46%; vertical-align: bottom;">
            <div style="text-indent: 0.2pt;"><font style="font-family: 'Times New Roman';">Current: Zincore</font><font style="font-family: 'Times New Roman';">&#160;</font></div>
          </td>
        </tr>
        <tr>
          <td style="width: 16.5%; vertical-align: bottom;">
            <div><font style="font-family: 'Times New Roman';">Friedrich III</font><font style="font-family: 'Times New Roman';">&#160;</font></div>
          </td>
          <td style="width: 10.3%; vertical-align: bottom; font-family: 'Times New Roman';">
            <div>&#160;</div>
          </td>
          <td style="width: 9.28%; vertical-align: bottom; font-family: 'Times New Roman';">
            <div style="text-align: center;">&#160;</div>
          </td>
          <td style="width: 35.06%; vertical-align: bottom;">
            <div style="text-indent: 0.2pt;"><font style="font-family: 'Times New Roman';">of Roman Friedrich &amp; Company</font><font style="font-family: 'Times New Roman';">&#160;</font></div>
          </td>
          <td style="width: 13.4%; vertical-align: bottom; font-family: 'Times New Roman';">
            <div>&#160;</div>
          </td>
          <td style="width: 15.46%; vertical-align: bottom;">
            <div style="text-indent: 0.2pt;"><font style="font-family: 'Times New Roman';">Metals, Inc.</font><font style="font-family: 'Times New Roman';">&#160;</font></div>
          </td>
        </tr>
        <tr>
          <td style="width: 16.5%; vertical-align: bottom;">
            <div><font style="font-family: 'Times New Roman';">Year of Birth: 1946</font><font style="font-family: 'Times New Roman';">&#160;</font></div>
          </td>
          <td style="width: 10.3%; vertical-align: bottom; font-family: 'Times New Roman';">
            <div>&#160;</div>
          </td>
          <td style="width: 9.28%; vertical-align: bottom; font-family: 'Times New Roman';">
            <div>&#160;</div>
          </td>
          <td style="width: 35.06%; vertical-align: bottom;">
            <div style="text-indent: 0.2pt;"><font style="font-family: 'Times New Roman';">(1998-present).</font><font style="font-family: 'Times New Roman';">&#160;</font></div>
          </td>
          <td style="width: 13.4%; vertical-align: bottom; font-family: 'Times New Roman';">
            <div>&#160;</div>
          </td>
          <td style="width: 15.46%; vertical-align: bottom;">
            <div style="text-indent: 0.2pt;"><font style="font-family: 'Times New Roman';">(2009-present).</font><font style="font-family: 'Times New Roman';">&#160;</font></div>
          </td>
        </tr>

    </table>
    <div style="margin-bottom: 6pt;">&#160;</div>
    <div style="text-align: center; margin-bottom: 6pt;">8</div>
    <div id="DSPFPageBreakArea" style="clear: both; margin-top: 10pt; margin-bottom: 10pt;">
      <div id="DSPFPageBreak" style="page-break-after: always;">
        <hr noshade="noshade" style="border-width: 0px; clear: both; margin: 4px 0px; width: 100%; height: 2px; color: #000000; background-color: #000000;"></div>
    </div>
    <br>
    <div style="margin-bottom: 6pt;"><br>
    </div>
    <table cellspacing="0" cellpadding="0" style="font-family: Arial; font-size: 10pt; width: 100%; border-collapse: collapse; text-align: left; color: #000000;" id="z862aece7fdee4b32a6456cebdf303863">

        <tr>
          <td style="width: 16.5%; vertical-align: middle; font-family: 'Times New Roman';">&#160;</td>
          <td style="width: 10.3%; vertical-align: middle; font-family: 'Times New Roman';">&#160;</td>
          <td style="width: 9.28%; vertical-align: middle; font-family: 'Times New Roman'; text-align: center;">&#160;</td>
          <td style="width: 35.06%; vertical-align: middle; font-family: 'Times New Roman';">&#160;</td>
          <td style="width: 13.4%; vertical-align: middle; font-family: 'Times New Roman';">&#160;</td>
          <td style="width: 15.46%; vertical-align: middle; font-family: 'Times New Roman';">&#160;</td>
        </tr>
        <tr>
          <td style="width: 16.5%; vertical-align: bottom; font-family: 'Times New Roman';">
            <div>&#160;</div>
          </td>
          <td style="width: 10.3%; vertical-align: bottom; font-family: 'Times New Roman';">
            <div>&#160;</div>
          </td>
          <td style="width: 9.28%; vertical-align: bottom; font-family: 'Times New Roman';">
            <div style="text-align: center;">&#160;</div>
          </td>
          <td style="width: 35.06%; vertical-align: bottom; font-family: 'Times New Roman';">
            <div>&#160;</div>
          </td>
          <td style="width: 13.4%; vertical-align: bottom; font-family: 'Times New Roman';">
            <div>&#160;</div>
          </td>
          <td style="width: 15.46%; vertical-align: bottom;">
            <div style="text-align: center;"><font style="font-family: 'Times New Roman'; font-weight: bold;">Other</font><font style="font-family: 'Times New Roman';">&#160;</font></div>
          </td>
        </tr>
        <tr>
          <td style="width: 16.5%; vertical-align: bottom; font-family: 'Times New Roman';">
            <div>&#160;</div>
          </td>
          <td style="width: 10.3%; vertical-align: bottom; font-family: 'Times New Roman';">
            <div style="text-align: center;">&#160;</div>
          </td>
          <td style="width: 9.28%; vertical-align: bottom;">
            <div style="text-align: center;"><font style="font-family: 'Times New Roman'; font-weight: bold;">Term of</font><font style="font-family: 'Times New Roman';">&#160;</font></div>
          </td>
          <td style="width: 35.06%; vertical-align: bottom; font-family: 'Times New Roman';">
            <div style="text-align: center;">&#160;</div>
          </td>
          <td style="width: 13.4%; vertical-align: bottom; font-family: 'Times New Roman';">
            <div style="text-align: center;">&#160;</div>
          </td>
          <td style="width: 15.46%; vertical-align: bottom;">
            <div style="text-align: center;"><font style="font-family: 'Times New Roman'; font-weight: bold;">Directorships</font><font style="font-family: 'Times New Roman';">&#160;</font></div>
          </td>
        </tr>
        <tr>
          <td style="width: 16.5%; vertical-align: bottom; font-family: 'Times New Roman';">
            <div>&#160;</div>
          </td>
          <td style="width: 10.3%; vertical-align: bottom; font-family: 'Times New Roman';">
            <div style="text-align: center;">&#160;</div>
          </td>
          <td style="width: 9.28%; vertical-align: bottom;">
            <div style="text-align: center;"><font style="font-family: 'Times New Roman'; font-weight: bold;">Office</font><font style="font-family: 'Times New Roman';">&#160;</font></div>
          </td>
          <td style="width: 35.06%; vertical-align: bottom; font-family: 'Times New Roman';">
            <div style="text-align: center;">&#160;</div>
          </td>
          <td style="width: 13.4%; vertical-align: bottom;">
            <div style="text-align: center;"><font style="font-family: 'Times New Roman'; font-weight: bold;">Number of</font><font style="font-family: 'Times New Roman';">&#160;</font></div>
          </td>
          <td style="width: 15.46%; vertical-align: bottom;">
            <div style="text-align: center;"><font style="font-family: 'Times New Roman'; font-weight: bold;">held by</font><font style="font-family: 'Times New Roman';">&#160;</font></div>
          </td>
        </tr>
        <tr>
          <td style="width: 16.5%; vertical-align: bottom; font-family: 'Times New Roman';">
            <div>&#160;</div>
          </td>
          <td style="width: 10.3%; vertical-align: bottom; font-family: 'Times New Roman';">
            <div style="text-align: center;">&#160;</div>
          </td>
          <td style="width: 9.28%; vertical-align: bottom;">
            <div style="text-align: center;"><font style="font-family: 'Times New Roman'; font-weight: bold;">and</font><font style="font-family: 'Times New Roman';">&#160;</font></div>
          </td>
          <td style="width: 35.06%; vertical-align: bottom; font-family: 'Times New Roman';">
            <div style="text-align: center;">&#160;</div>
          </td>
          <td style="width: 13.4%; vertical-align: bottom;">
            <div style="text-align: center;"><font style="font-family: 'Times New Roman'; font-weight: bold;">Portfolios in</font><font style="font-family: 'Times New Roman';">&#160;</font></div>
          </td>
          <td style="width: 15.46%; vertical-align: bottom;">
            <div style="text-align: center;"><font style="font-family: 'Times New Roman'; font-weight: bold;">Trustee</font><font style="font-family: 'Times New Roman';">&#160;</font></div>
          </td>
        </tr>
        <tr>
          <td style="width: 16.5%; vertical-align: bottom;">
            <div><font style="font-family: 'Times New Roman'; font-weight: bold;">Name,</font><font style="font-family: 'Times New Roman';">&#160;</font></div>
          </td>
          <td style="width: 10.3%; vertical-align: bottom;">
            <div style="text-align: center;"><font style="font-family: 'Times New Roman'; font-weight: bold;">Position(s)</font></div>
          </td>
          <td style="width: 9.28%; vertical-align: bottom;">
            <div style="text-align: center;"><font style="font-family: 'Times New Roman'; font-weight: bold;">&#160;Length</font><font style="font-family: 'Times New Roman';"> <br>
              </font></div>
          </td>
          <td style="width: 35.06%; vertical-align: bottom;">
            <div style="text-align: center;"><br>
            </div>
          </td>
          <td style="width: 13.4%; vertical-align: bottom;">
            <div style="text-align: center;"><font style="font-family: 'Times New Roman'; font-weight: bold;">Fund Complex</font><font style="font-family: 'Times New Roman';"> <br>
              </font></div>
          </td>
          <td style="width: 15.46%; vertical-align: bottom;">
            <div style="text-align: center;"><font style="font-family: 'Times New Roman'; font-weight: bold;">During</font><font style="font-family: 'Times New Roman';">&#160;</font></div>
          </td>
        </tr>
        <tr>
          <td style="width: 16.5%; vertical-align: bottom;">
            <div><font style="font-family: 'Times New Roman'; font-weight: bold;">Address</font><font style="font-family: 'Times New Roman';"><sup style="font-weight: bold; vertical-align: text-top; line-height: 1; font-size: smaller;">(1)</sup>&#160;</font></div>
          </td>
          <td style="width: 10.3%; vertical-align: bottom;">
            <div style="text-align: center;"><font style="font-family: 'Times New Roman'; font-weight: bold;">Held with</font><font style="font-family: 'Times New Roman';">&#160;</font></div>
          </td>
          <td style="width: 9.28%; vertical-align: bottom;">
            <div style="text-align: center;"><font style="font-family: 'Times New Roman'; font-weight: bold;">of Time</font><font style="font-family: 'Times New Roman';">&#160;</font></div>
          </td>
          <td style="width: 35.06%; vertical-align: bottom;">
            <div style="text-align: center;"><font style="font-family: 'Times New Roman'; font-weight: bold;">Principal Occupation</font><font style="font-family: 'Times New Roman';">&#160;</font></div>
          </td>
          <td style="width: 13.4%; vertical-align: bottom;">
            <div style="text-align: center;"><font style="font-family: 'Times New Roman'; font-weight: bold;">Overseen by</font><font style="font-family: 'Times New Roman';">&#160;</font></div>
          </td>
          <td style="width: 15.46%; vertical-align: bottom;">
            <div style="text-align: center;"><font style="font-family: 'Times New Roman'; font-weight: bold;">the Past</font><font style="font-family: 'Times New Roman';">&#160;</font></div>
          </td>
        </tr>
        <tr>
          <td style="width: 16.5%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0);">
            <div><font style="font-family: 'Times New Roman'; font-weight: bold;">and Age</font><font style="font-family: 'Times New Roman';">&#160;</font></div>
          </td>
          <td style="width: 10.3%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0);">
            <div style="text-align: center;"><font style="font-family: 'Times New Roman'; font-weight: bold;">Funds</font><font style="font-family: 'Times New Roman';">&#160;</font></div>
          </td>
          <td style="width: 9.28%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0);">
            <div style="text-align: center;"><font style="font-family: 'Times New Roman'; font-weight: bold;">Served</font><font style="font-family: 'Times New Roman';">&#160;</font></div>
          </td>
          <td style="width: 35.06%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0);">
            <div style="text-align: center;"><font style="font-family: 'Times New Roman'; font-weight: bold;">During The Past Five Years</font><font style="font-family: 'Times New Roman';">&#160;</font></div>
          </td>
          <td style="width: 13.4%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0);">
            <div style="text-align: center;"><font style="font-family: 'Times New Roman'; font-weight: bold;">Trustee</font><font style="font-family: 'Times New Roman';">&#160;</font></div>
          </td>
          <td style="width: 15.46%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0);">
            <div style="text-align: center;"><font style="font-family: 'Times New Roman'; font-weight: bold;">Five Years</font><font style="font-family: 'Times New Roman';">&#160;</font></div>
          </td>
        </tr>
        <tr>
          <td colspan="6" style="vertical-align: middle; font-family: 'Times New Roman';">
            <div>&#160;</div>
          </td>
        </tr>
        <tr>
          <td colspan="3" style="vertical-align: bottom;">
            <div><font style="font-family: 'Times New Roman'; font-style: italic;">INDEPENDENT TRUSTEES: (continued)</font><font style="font-family: 'Times New Roman';">&#160;</font></div>
          </td>
          <td style="width: 35.06%; vertical-align: bottom; font-family: 'Times New Roman';">
            <div>&#160;</div>
          </td>
          <td style="width: 13.4%; vertical-align: bottom; font-family: 'Times New Roman';">
            <div>&#160;</div>
          </td>
          <td style="width: 15.46%; vertical-align: bottom; font-family: 'Times New Roman';">
            <div>&#160;</div>
          </td>
        </tr>
        <tr>
          <td colspan="6" style="vertical-align: middle; font-family: 'Times New Roman';">
            <div>&#160;</div>
          </td>
        </tr>
        <tr>
          <td style="width: 16.5%; vertical-align: bottom;">
            <div><font style="font-family: 'Times New Roman';">Thomas F.</font><font style="font-family: 'Times New Roman';">&#160;</font></div>
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          <td style="width: 10.3%; vertical-align: bottom;">
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          <td style="width: 9.28%; vertical-align: bottom;">
            <div style="text-align: center;"><font style="font-family: 'Times New Roman';">&#8224;</font><font style="font-family: 'Times New Roman';">&#160;</font></div>
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          <td style="width: 35.06%; vertical-align: bottom;">
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          <td style="width: 13.4%; vertical-align: bottom;">
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          </td>
          <td style="width: 15.46%; vertical-align: bottom;">
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          </td>
        </tr>
        <tr>
          <td style="width: 16.5%; vertical-align: bottom;">
            <div><font style="font-family: 'Times New Roman';">Lydon, Jr.</font><font style="font-family: 'Times New Roman';">&#160;</font></div>
          </td>
          <td style="width: 10.3%; vertical-align: bottom; font-family: 'Times New Roman';">
            <div>&#160;</div>
          </td>
          <td style="width: 9.28%; vertical-align: bottom; font-family: 'Times New Roman';">
            <div style="text-align: center;">&#160;</div>
          </td>
          <td style="width: 35.06%; vertical-align: bottom;">
            <div style="text-indent: 0.2pt;"><font style="font-family: 'Times New Roman';">Investments (1996-present); Co-CEO,</font><font style="font-family: 'Times New Roman';">&#160;</font></div>
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          <td style="width: 13.4%; vertical-align: bottom; font-family: 'Times New Roman';">
            <div>&#160;</div>
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          <td style="width: 15.46%; vertical-align: bottom;">
            <div style="text-indent: 0.2pt;"><font style="font-family: 'Times New Roman';">Global Investors</font><font style="font-family: 'Times New Roman';">&#160;</font></div>
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        </tr>
        <tr>
          <td style="width: 16.5%; vertical-align: bottom;">
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          </td>
          <td style="width: 10.3%; vertical-align: bottom; font-family: 'Times New Roman';">
            <div>&#160;</div>
          </td>
          <td style="width: 9.28%; vertical-align: bottom; font-family: 'Times New Roman';">
            <div style="text-align: center;">&#160;</div>
          </td>
          <td style="width: 35.06%; vertical-align: bottom;">
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          </td>
          <td style="width: 13.4%; vertical-align: bottom; font-family: 'Times New Roman';">
            <div>&#160;</div>
          </td>
          <td style="width: 15.46%; vertical-align: bottom;">
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        </tr>
        <tr>
          <td style="width: 16.5%; vertical-align: bottom; font-family: 'Times New Roman';">
            <div>&#160;</div>
          </td>
          <td style="width: 10.3%; vertical-align: bottom; font-family: 'Times New Roman';">
            <div>&#160;</div>
          </td>
          <td style="width: 9.28%; vertical-align: bottom; font-family: 'Times New Roman';">
            <div style="text-align: center;">&#160;</div>
          </td>
          <td style="width: 35.06%; vertical-align: bottom;">
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          </td>
          <td style="width: 13.4%; vertical-align: bottom; font-family: 'Times New Roman';">
            <div>&#160;</div>
          </td>
          <td style="width: 15.46%; vertical-align: bottom;">
            <div style="text-indent: 0.2pt;"><font style="font-family: 'Times New Roman';">present).</font><font style="font-family: 'Times New Roman';">&#160;</font></div>
          </td>
        </tr>
        <tr>
          <td colspan="6" style="vertical-align: middle; font-family: 'Times New Roman';">
            <div>&#160;</div>
          </td>
        </tr>
        <tr>
          <td style="width: 16.5%; vertical-align: bottom; font-family: 'Times New Roman';">
            <div>&#160;</div>
          </td>
          <td style="width: 10.3%; vertical-align: bottom; font-family: 'Times New Roman';">
            <div>&#160;</div>
          </td>
          <td style="width: 9.28%; vertical-align: bottom; font-family: 'Times New Roman';">
            <div style="text-align: center;">&#160;</div>
          </td>
          <td style="width: 35.06%; vertical-align: bottom; font-family: 'Times New Roman';">
            <div>&#160;</div>
          </td>
          <td style="width: 13.4%; vertical-align: bottom; font-family: 'Times New Roman';">
            <div>&#160;</div>
          </td>
          <td style="width: 15.46%; vertical-align: bottom;">
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          </td>
        </tr>
        <tr>
          <td style="width: 16.5%; vertical-align: bottom; font-family: 'Times New Roman';">
            <div>&#160;</div>
          </td>
          <td style="width: 10.3%; vertical-align: bottom; font-family: 'Times New Roman';">
            <div>&#160;</div>
          </td>
          <td style="width: 9.28%; vertical-align: bottom; font-family: 'Times New Roman';">
            <div style="text-align: center;">&#160;</div>
          </td>
          <td style="width: 35.06%; vertical-align: bottom; font-family: 'Times New Roman';">
            <div>&#160;</div>
          </td>
          <td style="width: 13.4%; vertical-align: bottom; font-family: 'Times New Roman';">
            <div>&#160;</div>
          </td>
          <td style="width: 15.46%; vertical-align: bottom;">
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          </td>
        </tr>
        <tr>
          <td style="width: 16.5%; vertical-align: bottom; font-family: 'Times New Roman';">
            <div>&#160;</div>
          </td>
          <td style="width: 10.3%; vertical-align: bottom; font-family: 'Times New Roman';">
            <div>&#160;</div>
          </td>
          <td style="width: 9.28%; vertical-align: bottom; font-family: 'Times New Roman';">
            <div style="text-align: center;">&#160;</div>
          </td>
          <td style="width: 35.06%; vertical-align: bottom; font-family: 'Times New Roman';">
            <div>&#160;</div>
          </td>
          <td style="width: 13.4%; vertical-align: bottom; font-family: 'Times New Roman';">
            <div>&#160;</div>
          </td>
          <td style="width: 15.46%; vertical-align: bottom;">
            <div><font style="font-family: 'Times New Roman';">Trust (3) (2017-</font><font style="font-family: 'Times New Roman';">&#160;</font></div>
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        </tr>
        <tr>
          <td style="width: 16.5%; vertical-align: bottom; font-family: 'Times New Roman';">
            <div>&#160;</div>
          </td>
          <td style="width: 10.3%; vertical-align: bottom; font-family: 'Times New Roman';">
            <div>&#160;</div>
          </td>
          <td style="width: 9.28%; vertical-align: bottom; font-family: 'Times New Roman';">
            <div style="text-align: center;">&#160;</div>
          </td>
          <td style="width: 35.06%; vertical-align: bottom; font-family: 'Times New Roman';">
            <div>&#160;</div>
          </td>
          <td style="width: 13.4%; vertical-align: bottom; font-family: 'Times New Roman';">
            <div>&#160;</div>
          </td>
          <td style="width: 15.46%; vertical-align: bottom;">
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          </td>
        </tr>
        <tr>
          <td colspan="6" style="vertical-align: middle; font-family: 'Times New Roman';">
            <div>&#160;</div>
          </td>
        </tr>
        <tr>
          <td style="width: 16.5%; vertical-align: bottom;">
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          <td style="width: 10.3%; vertical-align: bottom;">
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          <td style="width: 9.28%; vertical-align: bottom;">
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          <td style="width: 35.06%; vertical-align: bottom;">
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          <td style="width: 13.4%; vertical-align: bottom;">
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          <td style="width: 15.46%; vertical-align: bottom;">
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        <tr>
          <td style="width: 16.5%; vertical-align: bottom;">
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          </td>
          <td style="width: 10.3%; vertical-align: bottom; font-family: 'Times New Roman';">
            <div>&#160;</div>
          </td>
          <td style="width: 9.28%; vertical-align: bottom; font-family: 'Times New Roman';">
            <div style="text-align: center;">&#160;</div>
          </td>
          <td style="width: 35.06%; vertical-align: bottom;">
            <div style="text-indent: 0.2pt;"><font style="font-family: 'Times New Roman';">(2016-present).</font><font style="font-family: 'Times New Roman';">&#160;</font></div>
          </td>
          <td style="width: 13.4%; vertical-align: bottom; font-family: 'Times New Roman';">
            <div>&#160;</div>
          </td>
          <td style="width: 15.46%; vertical-align: bottom;">
            <div style="text-indent: 0.2pt;"><font style="font-family: 'Times New Roman';">Funds (9) (2018 -</font><font style="font-family: 'Times New Roman';">&#160;</font></div>
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        </tr>
        <tr>
          <td style="width: 16.5%; vertical-align: bottom; font-family: 'Times New Roman';">
            <div>&#160;</div>
          </td>
          <td style="width: 10.3%; vertical-align: bottom; font-family: 'Times New Roman';">
            <div>&#160;</div>
          </td>
          <td style="width: 9.28%; vertical-align: bottom; font-family: 'Times New Roman';">
            <div style="text-align: center;">&#160;</div>
          </td>
          <td style="width: 35.06%; vertical-align: bottom; font-family: 'Times New Roman';">
            <div>&#160;</div>
          </td>
          <td style="width: 13.4%; vertical-align: bottom; font-family: 'Times New Roman';">
            <div>&#160;</div>
          </td>
          <td style="width: 15.46%; vertical-align: bottom;">
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          </td>
        </tr>
        <tr>
          <td style="width: 16.5%; vertical-align: bottom; font-family: 'Times New Roman';">
            <div>&#160;</div>
          </td>
          <td style="width: 10.3%; vertical-align: bottom; font-family: 'Times New Roman';">
            <div>&#160;</div>
          </td>
          <td style="width: 9.28%; vertical-align: bottom; font-family: 'Times New Roman';">
            <div style="text-align: center;">&#160;</div>
          </td>
          <td style="width: 35.06%; vertical-align: bottom;">
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          </td>
          <td style="width: 13.4%; vertical-align: bottom; font-family: 'Times New Roman';">
            <div>&#160;</div>
          </td>
          <td style="width: 15.46%; vertical-align: bottom;">
            <div style="text-indent: 0.2pt;"><font style="font-family: 'Times New Roman';">Elmhurst</font><font style="font-family: 'Times New Roman';">&#160;</font></div>
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        </tr>
        <tr>
          <td style="width: 16.5%; vertical-align: bottom; font-family: 'Times New Roman';">
            <div>&#160;</div>
          </td>
          <td style="width: 10.3%; vertical-align: bottom; font-family: 'Times New Roman';">
            <div>&#160;</div>
          </td>
          <td style="width: 9.28%; vertical-align: bottom; font-family: 'Times New Roman';">
            <div style="text-align: center;">&#160;</div>
          </td>
          <td colspan="2" style="vertical-align: bottom;">
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          <td style="width: 15.46%; vertical-align: bottom;">
            <div style="text-indent: 0.2pt;"><font style="font-family: 'Times New Roman';">Healthcare</font><font style="font-family: 'Times New Roman';">&#160;</font></div>
          </td>
        </tr>
        <tr>
          <td style="width: 16.5%; vertical-align: bottom; font-family: 'Times New Roman';">
            <div>&#160;</div>
          </td>
          <td style="width: 10.3%; vertical-align: bottom; font-family: 'Times New Roman';">
            <div>&#160;</div>
          </td>
          <td style="width: 9.28%; vertical-align: bottom; font-family: 'Times New Roman';">
            <div style="text-align: center;">&#160;</div>
          </td>
          <td style="width: 35.06%; vertical-align: bottom;">
            <div><font style="font-family: 'Times New Roman';">General Counsel and Corporate Secretary</font><font style="font-family: 'Times New Roman';">&#160;</font></div>
          </td>
          <td style="width: 13.4%; vertical-align: bottom; font-family: 'Times New Roman';">
            <div>&#160;</div>
          </td>
          <td style="width: 15.46%; vertical-align: bottom;">
            <div style="text-indent: 0.2pt;"><font style="font-family: 'Times New Roman';">System (2012-</font><font style="font-family: 'Times New Roman';">&#160;</font></div>
          </td>
        </tr>
        <tr>
          <td style="width: 16.5%; vertical-align: bottom; font-family: 'Times New Roman';">
            <div>&#160;</div>
          </td>
          <td style="width: 10.3%; vertical-align: bottom; font-family: 'Times New Roman';">
            <div>&#160;</div>
          </td>
          <td style="width: 9.28%; vertical-align: bottom; font-family: 'Times New Roman';">
            <div style="text-align: center;">&#160;</div>
          </td>
          <td style="width: 35.06%; vertical-align: bottom;">
            <div><font style="font-family: 'Times New Roman';">of Van Kampen Investments (1982-1999).</font><font style="font-family: 'Times New Roman';">&#160;</font></div>
          </td>
          <td style="width: 13.4%; vertical-align: bottom; font-family: 'Times New Roman';">
            <div>&#160;</div>
          </td>
          <td style="width: 15.46%; vertical-align: bottom;">
            <div style="text-indent: 0.2pt;"><font style="font-family: 'Times New Roman';">present); Western</font><font style="font-family: 'Times New Roman';">&#160;</font></div>
          </td>
        </tr>
        <tr>
          <td style="width: 16.5%; vertical-align: bottom; font-family: 'Times New Roman';">
            <div>&#160;</div>
          </td>
          <td style="width: 10.3%; vertical-align: bottom; font-family: 'Times New Roman';">
            <div>&#160;</div>
          </td>
          <td style="width: 9.28%; vertical-align: bottom; font-family: 'Times New Roman';">
            <div style="text-align: center;">&#160;</div>
          </td>
          <td style="width: 35.06%; vertical-align: bottom; font-family: 'Times New Roman';">
            <div>&#160;</div>
          </td>
          <td style="width: 13.4%; vertical-align: bottom; font-family: 'Times New Roman';">
            <div>&#160;</div>
          </td>
          <td style="width: 15.46%; vertical-align: bottom;">
            <div><font style="font-family: 'Times New Roman';">Asset Inflation-</font><font style="font-family: 'Times New Roman';">&#160;</font></div>
          </td>
        </tr>
        <tr>
          <td style="width: 16.5%; vertical-align: bottom; font-family: 'Times New Roman';">
            <div>&#160;</div>
          </td>
          <td style="width: 10.3%; vertical-align: bottom; font-family: 'Times New Roman';">
            <div>&#160;</div>
          </td>
          <td style="width: 9.28%; vertical-align: bottom; font-family: 'Times New Roman';">
            <div style="text-align: center;">&#160;</div>
          </td>
          <td style="width: 35.06%; vertical-align: bottom; font-family: 'Times New Roman';">
            <div>&#160;</div>
          </td>
          <td style="width: 13.4%; vertical-align: bottom; font-family: 'Times New Roman';">
            <div>&#160;</div>
          </td>
          <td style="width: 15.46%; vertical-align: bottom;">
            <div><font style="font-family: 'Times New Roman';">Linked</font><font style="font-family: 'Times New Roman';">&#160;</font></div>
          </td>
        </tr>
        <tr>
          <td style="width: 16.5%; vertical-align: bottom; font-family: 'Times New Roman';">
            <div>&#160;</div>
          </td>
          <td style="width: 10.3%; vertical-align: bottom; font-family: 'Times New Roman';">
            <div>&#160;</div>
          </td>
          <td style="width: 9.28%; vertical-align: bottom; font-family: 'Times New Roman';">
            <div style="text-align: center;">&#160;</div>
          </td>
          <td style="width: 35.06%; vertical-align: bottom; font-family: 'Times New Roman';">
            <div>&#160;</div>
          </td>
          <td style="width: 13.4%; vertical-align: bottom; font-family: 'Times New Roman';">
            <div>&#160;</div>
          </td>
          <td style="width: 15.46%; vertical-align: bottom;">
            <div><font style="font-family: 'Times New Roman';">Opportunities &amp;</font><font style="font-family: 'Times New Roman';">&#160;</font></div>
          </td>
        </tr>
        <tr>
          <td style="width: 16.5%; vertical-align: bottom; font-family: 'Times New Roman';">
            <div>&#160;</div>
          </td>
          <td style="width: 10.3%; vertical-align: bottom; font-family: 'Times New Roman';">
            <div>&#160;</div>
          </td>
          <td style="width: 9.28%; vertical-align: bottom; font-family: 'Times New Roman';">
            <div style="text-align: center;">&#160;</div>
          </td>
          <td style="width: 35.06%; vertical-align: bottom; font-family: 'Times New Roman';">
            <div>&#160;</div>
          </td>
          <td style="width: 13.4%; vertical-align: bottom; font-family: 'Times New Roman';">
            <div>&#160;</div>
          </td>
          <td style="width: 15.46%; vertical-align: bottom;">
            <div><font style="font-family: 'Times New Roman';">Income Fund</font><font style="font-family: 'Times New Roman';">&#160;</font></div>
          </td>
        </tr>
        <tr>
          <td style="width: 16.5%; vertical-align: bottom; font-family: 'Times New Roman';">
            <div>&#160;</div>
          </td>
          <td style="width: 10.3%; vertical-align: bottom; font-family: 'Times New Roman';">
            <div>&#160;</div>
          </td>
          <td style="width: 9.28%; vertical-align: bottom; font-family: 'Times New Roman';">
            <div style="text-align: center;">&#160;</div>
          </td>
          <td style="width: 35.06%; vertical-align: bottom; font-family: 'Times New Roman';">
            <div>&#160;</div>
          </td>
          <td style="width: 13.4%; vertical-align: bottom; font-family: 'Times New Roman';">
            <div>&#160;</div>
          </td>
          <td style="width: 15.46%; vertical-align: bottom;">
            <div><font style="font-family: 'Times New Roman';">(2004-present);</font><font style="font-family: 'Times New Roman';">&#160;</font></div>
          </td>
        </tr>
        <tr>
          <td style="width: 16.5%; vertical-align: bottom; font-family: 'Times New Roman';">
            <div>&#160;</div>
          </td>
          <td style="width: 10.3%; vertical-align: bottom; font-family: 'Times New Roman';">
            <div>&#160;</div>
          </td>
          <td style="width: 9.28%; vertical-align: bottom; font-family: 'Times New Roman';">
            <div style="text-align: center;">&#160;</div>
          </td>
          <td style="width: 35.06%; vertical-align: bottom; font-family: 'Times New Roman';">
            <div>&#160;</div>
          </td>
          <td style="width: 13.4%; vertical-align: bottom; font-family: 'Times New Roman';">
            <div>&#160;</div>
          </td>
          <td style="width: 15.46%; vertical-align: bottom;">
            <div><font style="font-family: 'Times New Roman';">Western Asset</font><font style="font-family: 'Times New Roman';">&#160;</font></div>
          </td>
        </tr>
        <tr>
          <td style="width: 16.5%; vertical-align: bottom; font-family: 'Times New Roman';">
            <div>&#160;</div>
          </td>
          <td style="width: 10.3%; vertical-align: bottom; font-family: 'Times New Roman';">
            <div>&#160;</div>
          </td>
          <td style="width: 9.28%; vertical-align: bottom; font-family: 'Times New Roman';">
            <div style="text-align: center;">&#160;</div>
          </td>
          <td style="width: 35.06%; vertical-align: bottom; font-family: 'Times New Roman';">
            <div>&#160;</div>
          </td>
          <td style="width: 13.4%; vertical-align: bottom; font-family: 'Times New Roman';">
            <div>&#160;</div>
          </td>
          <td style="width: 15.46%; vertical-align: bottom;">
            <div><font style="font-family: 'Times New Roman';">Inflation-Linked</font><font style="font-family: 'Times New Roman';">&#160;</font></div>
          </td>
        </tr>
        <tr>
          <td style="width: 16.5%; vertical-align: bottom; font-family: 'Times New Roman';">
            <div>&#160;</div>
          </td>
          <td style="width: 10.3%; vertical-align: bottom; font-family: 'Times New Roman';">
            <div>&#160;</div>
          </td>
          <td style="width: 9.28%; vertical-align: bottom; font-family: 'Times New Roman';">
            <div style="text-align: center;">&#160;</div>
          </td>
          <td style="width: 35.06%; vertical-align: bottom; font-family: 'Times New Roman';">
            <div>&#160;</div>
          </td>
          <td style="width: 13.4%; vertical-align: bottom; font-family: 'Times New Roman';">
            <div>&#160;</div>
          </td>
          <td style="width: 15.46%; vertical-align: bottom;">
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          </td>
        </tr>
        <tr>
          <td style="width: 16.5%; vertical-align: bottom; font-family: 'Times New Roman';">
            <div>&#160;</div>
          </td>
          <td style="width: 10.3%; vertical-align: bottom; font-family: 'Times New Roman';">
            <div>&#160;</div>
          </td>
          <td style="width: 9.28%; vertical-align: bottom; font-family: 'Times New Roman';">
            <div style="text-align: center;">&#160;</div>
          </td>
          <td style="width: 35.06%; vertical-align: bottom; font-family: 'Times New Roman';">
            <div>&#160;</div>
          </td>
          <td style="width: 13.4%; vertical-align: bottom; font-family: 'Times New Roman';">
            <div>&#160;</div>
          </td>
          <td style="width: 15.46%; vertical-align: bottom;">
            <div><font style="font-family: 'Times New Roman';">(2003-present).</font><font style="font-family: 'Times New Roman';">&#160;</font></div>
          </td>
        </tr>
        <tr>
          <td colspan="6" style="vertical-align: middle; font-family: 'Times New Roman';">
            <div>&#160;</div>
          </td>
        </tr>
        <tr>
          <td style="width: 16.5%; vertical-align: bottom; font-family: 'Times New Roman';">
            <div>&#160;</div>
          </td>
          <td style="width: 10.3%; vertical-align: bottom; font-family: 'Times New Roman';">
            <div>&#160;</div>
          </td>
          <td style="width: 9.28%; vertical-align: bottom; font-family: 'Times New Roman';">
            <div style="text-align: center;">&#160;</div>
          </td>
          <td style="width: 35.06%; vertical-align: bottom; font-family: 'Times New Roman';">
            <div>&#160;</div>
          </td>
          <td style="width: 13.4%; vertical-align: bottom; font-family: 'Times New Roman';">
            <div>&#160;</div>
          </td>
          <td style="width: 15.46%; vertical-align: bottom;">
            <div><font style="font-family: 'Times New Roman';">Former: Managed</font><font style="font-family: 'Times New Roman';">&#160;</font></div>
          </td>
        </tr>
        <tr>
          <td style="width: 16.5%; vertical-align: bottom; font-family: 'Times New Roman';">
            <div>&#160;</div>
          </td>
          <td style="width: 10.3%; vertical-align: bottom; font-family: 'Times New Roman';">
            <div>&#160;</div>
          </td>
          <td style="width: 9.28%; vertical-align: bottom; font-family: 'Times New Roman';">
            <div style="text-align: center;">&#160;</div>
          </td>
          <td style="width: 35.06%; vertical-align: bottom; font-family: 'Times New Roman';">
            <div>&#160;</div>
          </td>
          <td style="width: 13.4%; vertical-align: bottom; font-family: 'Times New Roman';">
            <div>&#160;</div>
          </td>
          <td style="width: 15.46%; vertical-align: bottom;">
            <div><font style="font-family: 'Times New Roman';">Duration</font><font style="font-family: 'Times New Roman';">&#160;</font></div>
          </td>
        </tr>
        <tr>
          <td style="width: 16.5%; vertical-align: bottom; font-family: 'Times New Roman';">
            <div>&#160;</div>
          </td>
          <td style="width: 10.3%; vertical-align: bottom; font-family: 'Times New Roman';">
            <div>&#160;</div>
          </td>
          <td style="width: 9.28%; vertical-align: bottom; font-family: 'Times New Roman';">
            <div style="text-align: center;">&#160;</div>
          </td>
          <td style="width: 35.06%; vertical-align: bottom; font-family: 'Times New Roman';">
            <div>&#160;</div>
          </td>
          <td style="width: 13.4%; vertical-align: bottom; font-family: 'Times New Roman';">
            <div>&#160;</div>
          </td>
          <td style="width: 15.46%; vertical-align: bottom;">
            <div><font style="font-family: 'Times New Roman';">Investment Grade</font><font style="font-family: 'Times New Roman';">&#160;</font></div>
          </td>
        </tr>
        <tr>
          <td style="width: 16.5%; vertical-align: bottom; font-family: 'Times New Roman';">
            <div>&#160;</div>
          </td>
          <td style="width: 10.3%; vertical-align: bottom; font-family: 'Times New Roman';">
            <div>&#160;</div>
          </td>
          <td style="width: 9.28%; vertical-align: bottom; font-family: 'Times New Roman';">
            <div style="text-align: center;">&#160;</div>
          </td>
          <td style="width: 35.06%; vertical-align: bottom; font-family: 'Times New Roman';">
            <div>&#160;</div>
          </td>
          <td style="width: 13.4%; vertical-align: bottom; font-family: 'Times New Roman';">
            <div>&#160;</div>
          </td>
          <td style="width: 15.46%; vertical-align: bottom;">
            <div><font style="font-family: 'Times New Roman';">Municipal Fund</font><font style="font-family: 'Times New Roman';">&#160;</font></div>
          </td>
        </tr>
        <tr>
          <td style="width: 16.5%; vertical-align: bottom; font-family: 'Times New Roman';">
            <div>&#160;</div>
          </td>
          <td style="width: 10.3%; vertical-align: bottom; font-family: 'Times New Roman';">
            <div>&#160;</div>
          </td>
          <td style="width: 9.28%; vertical-align: bottom; font-family: 'Times New Roman';">
            <div style="text-align: center;">&#160;</div>
          </td>
          <td style="width: 35.06%; vertical-align: bottom; font-family: 'Times New Roman';">
            <div>&#160;</div>
          </td>
          <td style="width: 13.4%; vertical-align: bottom; font-family: 'Times New Roman';">
            <div>&#160;</div>
          </td>
          <td style="width: 15.46%; vertical-align: bottom;">
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          </td>
        </tr>
        <tr>
          <td colspan="6" style="vertical-align: middle; font-family: 'Times New Roman';">
            <div>&#160;</div>
          </td>
        </tr>
        <tr>
          <td style="width: 16.5%; vertical-align: bottom;">
            <div><font style="font-family: 'Times New Roman';">Sandra G. Sponem</font><font style="font-family: 'Times New Roman';">&#160;</font></div>
          </td>
          <td style="width: 10.3%; vertical-align: bottom;">
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          </td>
          <td style="width: 9.28%; vertical-align: bottom;">
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          </td>
          <td style="width: 35.06%; vertical-align: bottom;">
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          </td>
          <td style="width: 13.4%; vertical-align: bottom;">
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          </td>
          <td style="width: 15.46%; vertical-align: bottom;">
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          </td>
        </tr>
        <tr>
          <td style="width: 16.5%; vertical-align: bottom;">
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          </td>
          <td style="width: 10.3%; vertical-align: bottom; font-family: 'Times New Roman';">
            <div>&#160;</div>
          </td>
          <td style="width: 9.28%; vertical-align: bottom; font-family: 'Times New Roman';">
            <div style="text-align: center;">&#160;</div>
          </td>
          <td style="width: 35.06%; vertical-align: bottom; font-family: 'Times New Roman';">
            <div>&#160;</div>
          </td>
          <td style="width: 13.4%; vertical-align: bottom; font-family: 'Times New Roman';">
            <div>&#160;</div>
          </td>
          <td style="width: 15.46%; vertical-align: bottom;">
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          </td>
        </tr>
        <tr>
          <td style="width: 16.5%; vertical-align: bottom; font-family: 'Times New Roman';">
            <div>&#160;</div>
          </td>
          <td style="width: 10.3%; vertical-align: bottom; font-family: 'Times New Roman';">
            <div>&#160;</div>
          </td>
          <td style="width: 9.28%; vertical-align: bottom; font-family: 'Times New Roman';">
            <div style="text-align: center;">&#160;</div>
          </td>
          <td style="width: 35.06%; vertical-align: bottom;">
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          </td>
          <td style="width: 13.4%; vertical-align: bottom; font-family: 'Times New Roman';">
            <div>&#160;</div>
          </td>
          <td style="width: 15.46%; vertical-align: bottom;">
            <div style="text-indent: 0.2pt;"><font style="font-family: 'Times New Roman';">(2018-present);</font><font style="font-family: 'Times New Roman';">&#160;</font></div>
          </td>
        </tr>
        <tr>
          <td style="width: 16.5%; vertical-align: bottom; font-family: 'Times New Roman';">
            <div>&#160;</div>
          </td>
          <td style="width: 10.3%; vertical-align: bottom; font-family: 'Times New Roman';">
            <div>&#160;</div>
          </td>
          <td style="width: 9.28%; vertical-align: bottom; font-family: 'Times New Roman';">
            <div style="text-align: center;">&#160;</div>
          </td>
          <td style="width: 35.06%; vertical-align: bottom;">
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          </td>
          <td style="width: 13.4%; vertical-align: bottom; font-family: 'Times New Roman';">
            <div>&#160;</div>
          </td>
          <td style="width: 15.46%; vertical-align: bottom;">
            <div style="text-indent: 0.2pt;"><font style="font-family: 'Times New Roman';">SPDR Index</font><font style="font-family: 'Times New Roman';">&#160;</font></div>
          </td>
        </tr>
        <tr>
          <td style="width: 16.5%; vertical-align: bottom; font-family: 'Times New Roman';">
            <div>&#160;</div>
          </td>
          <td style="width: 10.3%; vertical-align: bottom; font-family: 'Times New Roman';">
            <div>&#160;</div>
          </td>
          <td style="width: 9.28%; vertical-align: bottom; font-family: 'Times New Roman';">
            <div style="text-align: center;">&#160;</div>
          </td>
          <td style="width: 35.06%; vertical-align: bottom;">
            <div><font style="font-family: 'Times New Roman';">Mortenson-Companies, Inc. (2007-2017).</font><font style="font-family: 'Times New Roman';">&#160;</font></div>
          </td>
          <td style="width: 13.4%; vertical-align: bottom; font-family: 'Times New Roman';">
            <div>&#160;</div>
          </td>
          <td style="width: 15.46%; vertical-align: bottom;">
            <div style="text-indent: 0.2pt;"><font style="font-family: 'Times New Roman';">Shares Funds (31)</font><font style="font-family: 'Times New Roman';">&#160;</font></div>
          </td>
        </tr>
        <tr>
          <td style="width: 16.5%; vertical-align: bottom; font-family: 'Times New Roman';">
            <div>&#160;</div>
          </td>
          <td style="width: 10.3%; vertical-align: bottom; font-family: 'Times New Roman';">
            <div>&#160;</div>
          </td>
          <td style="width: 9.28%; vertical-align: bottom; font-family: 'Times New Roman';">
            <div style="text-align: center;">&#160;</div>
          </td>
          <td style="width: 35.06%; vertical-align: bottom; font-family: 'Times New Roman';">
            <div>&#160;</div>
          </td>
          <td style="width: 13.4%; vertical-align: bottom; font-family: 'Times New Roman';">
            <div>&#160;</div>
          </td>
          <td style="width: 15.46%; vertical-align: bottom;">
            <div><font style="font-family: 'Times New Roman';">(2018-present);</font><font style="font-family: 'Times New Roman';">&#160;</font></div>
          </td>
        </tr>
        <tr>
          <td style="width: 16.5%; vertical-align: bottom; font-family: 'Times New Roman';">
            <div>&#160;</div>
          </td>
          <td style="width: 10.3%; vertical-align: bottom; font-family: 'Times New Roman';">
            <div>&#160;</div>
          </td>
          <td style="width: 9.28%; vertical-align: bottom; font-family: 'Times New Roman';">
            <div style="text-align: center;">&#160;</div>
          </td>
          <td style="width: 35.06%; vertical-align: bottom; font-family: 'Times New Roman';">
            <div>&#160;</div>
          </td>
          <td style="width: 13.4%; vertical-align: bottom; font-family: 'Times New Roman';">
            <div>&#160;</div>
          </td>
          <td style="width: 15.46%; vertical-align: bottom;">
            <div><font style="font-family: 'Times New Roman';">SSGA Active</font><font style="font-family: 'Times New Roman';">&#160;</font></div>
          </td>
        </tr>
        <tr>
          <td style="width: 16.5%; vertical-align: bottom; font-family: 'Times New Roman';">
            <div>&#160;</div>
          </td>
          <td style="width: 10.3%; vertical-align: bottom; font-family: 'Times New Roman';">
            <div>&#160;</div>
          </td>
          <td style="width: 9.28%; vertical-align: bottom; font-family: 'Times New Roman';">
            <div style="text-align: center;">&#160;</div>
          </td>
          <td style="width: 35.06%; vertical-align: bottom; font-family: 'Times New Roman';">
            <div>&#160;</div>
          </td>
          <td style="width: 13.4%; vertical-align: bottom; font-family: 'Times New Roman';">
            <div>&#160;</div>
          </td>
          <td style="width: 15.46%; vertical-align: bottom;">
            <div><font style="font-family: 'Times New Roman';">Trust (12) (2018-</font><font style="font-family: 'Times New Roman';">&#160;</font></div>
          </td>
        </tr>
        <tr>
          <td style="width: 16.5%; vertical-align: bottom; font-family: 'Times New Roman';">
            <div>&#160;</div>
          </td>
          <td style="width: 10.3%; vertical-align: bottom; font-family: 'Times New Roman';">
            <div>&#160;</div>
          </td>
          <td style="width: 9.28%; vertical-align: bottom; font-family: 'Times New Roman';">
            <div style="text-align: center;">&#160;</div>
          </td>
          <td style="width: 35.06%; vertical-align: bottom; font-family: 'Times New Roman';">
            <div>&#160;</div>
          </td>
          <td style="width: 13.4%; vertical-align: bottom; font-family: 'Times New Roman';">
            <div>&#160;</div>
          </td>
          <td style="width: 15.46%; vertical-align: bottom;">
            <div><font style="font-family: 'Times New Roman';">present); and</font><font style="font-family: 'Times New Roman';">&#160;</font></div>
          </td>
        </tr>
        <tr>
          <td style="width: 16.5%; vertical-align: bottom; font-family: 'Times New Roman';">
            <div>&#160;</div>
          </td>
          <td style="width: 10.3%; vertical-align: bottom; font-family: 'Times New Roman';">
            <div>&#160;</div>
          </td>
          <td style="width: 9.28%; vertical-align: bottom; font-family: 'Times New Roman';">
            <div style="text-align: center;">&#160;</div>
          </td>
          <td style="width: 35.06%; vertical-align: bottom; font-family: 'Times New Roman';">
            <div>&#160;</div>
          </td>
          <td style="width: 13.4%; vertical-align: bottom; font-family: 'Times New Roman';">
            <div>&#160;</div>
          </td>
          <td style="width: 15.46%; vertical-align: bottom;">
            <div><font style="font-family: 'Times New Roman';">SSGA Master</font><font style="font-family: 'Times New Roman';">&#160;</font></div>
          </td>
        </tr>
        <tr>
          <td style="width: 16.5%; vertical-align: bottom; font-family: 'Times New Roman';">
            <div>&#160;</div>
          </td>
          <td style="width: 10.3%; vertical-align: bottom; font-family: 'Times New Roman';">
            <div>&#160;</div>
          </td>
          <td style="width: 9.28%; vertical-align: bottom; font-family: 'Times New Roman';">
            <div style="text-align: center;">&#160;</div>
          </td>
          <td style="width: 35.06%; vertical-align: bottom; font-family: 'Times New Roman';">
            <div>&#160;</div>
          </td>
          <td style="width: 13.4%; vertical-align: bottom; font-family: 'Times New Roman';">
            <div>&#160;</div>
          </td>
          <td style="width: 15.46%; vertical-align: bottom;">
            <div><font style="font-family: 'Times New Roman';">Trust (1) (2018-</font><font style="font-family: 'Times New Roman';">&#160;</font></div>
          </td>
        </tr>
        <tr>
          <td style="width: 16.5%; vertical-align: bottom; font-family: 'Times New Roman';">
            <div>&#160;</div>
          </td>
          <td style="width: 10.3%; vertical-align: bottom; font-family: 'Times New Roman';">
            <div>&#160;</div>
          </td>
          <td style="width: 9.28%; vertical-align: bottom; font-family: 'Times New Roman';">
            <div style="text-align: center;">&#160;</div>
          </td>
          <td style="width: 35.06%; vertical-align: bottom; font-family: 'Times New Roman';">
            <div>&#160;</div>
          </td>
          <td style="width: 13.4%; vertical-align: bottom; font-family: 'Times New Roman';">
            <div>&#160;</div>
          </td>
          <td style="width: 15.46%; vertical-align: bottom;">
            <div><font style="font-family: 'Times New Roman';">present).</font><font style="font-family: 'Times New Roman';">&#160;</font></div>
          </td>
        </tr>
        <tr>
          <td colspan="6" style="vertical-align: middle; font-family: 'Times New Roman';">
            <div>&#160;</div>
          </td>
        </tr>
        <tr>
          <td style="width: 16.5%; vertical-align: bottom;">
            <div><font style="font-family: 'Times New Roman';">Ronald E.</font><font style="font-family: 'Times New Roman';">&#160;</font></div>
          </td>
          <td style="width: 10.3%; vertical-align: bottom;">
            <div style="text-indent: 6.15pt;"><font style="font-family: 'Times New Roman';">Trustee</font><font style="font-family: 'Times New Roman';">&#160;</font></div>
          </td>
          <td style="width: 9.28%; vertical-align: bottom;">
            <div style="text-align: center;"><font style="font-family: 'Times New Roman';">&#8224;</font><font style="font-family: 'Times New Roman';">&#160;</font></div>
          </td>
          <td style="width: 35.06%; vertical-align: bottom;">
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          </td>
          <td style="width: 13.4%; vertical-align: bottom;">
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          </td>
          <td style="width: 15.46%; vertical-align: bottom;">
            <div style="text-indent: 0.2pt;"><font style="font-family: 'Times New Roman';">Current: Western</font><font style="font-family: 'Times New Roman';">&#160;</font></div>
          </td>
        </tr>
        <tr>
          <td style="width: 16.5%; vertical-align: bottom;">
            <div><font style="font-family: 'Times New Roman';">Toupin, Jr.</font><font style="font-family: 'Times New Roman';">&#160;</font></div>
          </td>
          <td style="width: 10.3%; vertical-align: bottom; font-family: 'Times New Roman';">
            <div>&#160;</div>
          </td>
          <td style="width: 9.28%; vertical-align: bottom; font-family: 'Times New Roman';">
            <div style="text-align: center;">&#160;</div>
          </td>
          <td style="width: 35.06%; vertical-align: bottom;">
            <div style="text-indent: 0.2pt;"><font style="font-family: 'Times New Roman';">present); Member, Governing Council,</font><font style="font-family: 'Times New Roman';">&#160;</font></div>
          </td>
          <td style="width: 13.4%; vertical-align: bottom; font-family: 'Times New Roman';">
            <div>&#160;</div>
          </td>
          <td style="width: 15.46%; vertical-align: bottom;">
            <div style="text-indent: 0.2pt;"><font style="font-family: 'Times New Roman';">Asset Inflation-</font><font style="font-family: 'Times New Roman';">&#160;</font></div>
          </td>
        </tr>
        <tr>
          <td style="width: 16.5%; vertical-align: bottom;">
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          </td>
          <td style="width: 10.3%; vertical-align: bottom; font-family: 'Times New Roman';">
            <div>&#160;</div>
          </td>
          <td style="width: 9.28%; vertical-align: bottom; font-family: 'Times New Roman';">
            <div style="text-align: center;">&#160;</div>
          </td>
          <td style="width: 35.06%; vertical-align: bottom;">
            <div style="text-indent: 0.2pt;"><font style="font-family: 'Times New Roman';">Independent Directors Council (2013-</font><font style="font-family: 'Times New Roman';">&#160;</font></div>
          </td>
          <td style="width: 13.4%; vertical-align: bottom; font-family: 'Times New Roman';">
            <div>&#160;</div>
          </td>
          <td style="width: 15.46%; vertical-align: bottom;">
            <div style="text-indent: 0.2pt;"><font style="font-family: 'Times New Roman';">Linked</font><font style="font-family: 'Times New Roman';">&#160;</font></div>
          </td>
        </tr>
        <tr>
          <td style="width: 16.5%; vertical-align: bottom; font-family: 'Times New Roman';">
            <div>&#160;</div>
          </td>
          <td style="width: 10.3%; vertical-align: bottom; font-family: 'Times New Roman';">
            <div>&#160;</div>
          </td>
          <td style="width: 9.28%; vertical-align: bottom; font-family: 'Times New Roman';">
            <div style="text-align: center;">&#160;</div>
          </td>
          <td style="width: 35.06%; vertical-align: bottom;">
            <div><font style="font-family: 'Times New Roman';">present); Governor, Board of Governors,</font><font style="font-family: 'Times New Roman';">&#160;</font></div>
          </td>
          <td style="width: 13.4%; vertical-align: bottom; font-family: 'Times New Roman';">
            <div>&#160;</div>
          </td>
          <td style="width: 15.46%; vertical-align: bottom;">
            <div style="text-indent: 0.2pt;"><font style="font-family: 'Times New Roman';">Opportunities &amp;</font><font style="font-family: 'Times New Roman';">&#160;</font></div>
          </td>
        </tr>
        <tr>
          <td style="width: 16.5%; vertical-align: bottom; font-family: 'Times New Roman';">
            <div>&#160;</div>
          </td>
          <td style="width: 10.3%; vertical-align: bottom; font-family: 'Times New Roman';">
            <div>&#160;</div>
          </td>
          <td style="width: 9.28%; vertical-align: bottom; font-family: 'Times New Roman';">
            <div style="text-align: center;">&#160;</div>
          </td>
          <td style="width: 35.06%; vertical-align: bottom;">
            <div><font style="font-family: 'Times New Roman';">Investment Company Institute</font><font style="font-family: 'Times New Roman';">&#160;</font></div>
          </td>
          <td style="width: 13.4%; vertical-align: bottom; font-family: 'Times New Roman';">
            <div>&#160;</div>
          </td>
          <td style="width: 15.46%; vertical-align: bottom;">
            <div style="text-indent: 0.2pt;"><font style="font-family: 'Times New Roman';">Income Fund</font><font style="font-family: 'Times New Roman';">&#160;</font></div>
          </td>
        </tr>
        <tr>
          <td style="width: 16.5%; vertical-align: bottom; font-family: 'Times New Roman';">
            <div>&#160;</div>
          </td>
          <td style="width: 10.3%; vertical-align: bottom; font-family: 'Times New Roman';">
            <div>&#160;</div>
          </td>
          <td style="width: 9.28%; vertical-align: bottom; font-family: 'Times New Roman';">
            <div style="text-align: center;">&#160;</div>
          </td>
          <td style="width: 35.06%; vertical-align: bottom;">
            <div><font style="font-family: 'Times New Roman';">(2018-present).</font><font style="font-family: 'Times New Roman';">&#160;</font></div>
          </td>
          <td style="width: 13.4%; vertical-align: bottom; font-family: 'Times New Roman';">
            <div>&#160;</div>
          </td>
          <td style="width: 15.46%; vertical-align: bottom;">
            <div style="text-indent: 0.2pt;"><font style="font-family: 'Times New Roman';">(2004-present);</font><font style="font-family: 'Times New Roman';">&#160;</font></div>
          </td>
        </tr>
        <tr>
          <td style="width: 16.5%; vertical-align: bottom; font-family: 'Times New Roman';">
            <div>&#160;</div>
          </td>
          <td style="width: 10.3%; vertical-align: bottom; font-family: 'Times New Roman';">
            <div>&#160;</div>
          </td>
          <td style="width: 9.28%; vertical-align: bottom; font-family: 'Times New Roman';">
            <div style="text-align: center;">&#160;</div>
          </td>
          <td style="width: 35.06%; vertical-align: bottom; font-family: 'Times New Roman';">
            <div>&#160;</div>
          </td>
          <td style="width: 13.4%; vertical-align: bottom; font-family: 'Times New Roman';">
            <div>&#160;</div>
          </td>
          <td style="width: 15.46%; vertical-align: bottom;">
            <div style="text-indent: 0.2pt;"><font style="font-family: 'Times New Roman';">Western Asset</font><font style="font-family: 'Times New Roman';">&#160;</font></div>
          </td>
        </tr>
        <tr>
          <td style="width: 16.5%; vertical-align: bottom; font-family: 'Times New Roman';">
            <div>&#160;</div>
          </td>
          <td style="width: 10.3%; vertical-align: bottom; font-family: 'Times New Roman';">
            <div>&#160;</div>
          </td>
          <td style="width: 9.28%; vertical-align: bottom; font-family: 'Times New Roman';">
            <div style="text-align: center;">&#160;</div>
          </td>
          <td style="width: 35.06%; vertical-align: bottom;">
            <div><font style="font-family: 'Times New Roman';">Former: Member, Executive Committee,</font><font style="font-family: 'Times New Roman';">&#160;</font></div>
          </td>
          <td style="width: 13.4%; vertical-align: bottom; font-family: 'Times New Roman';">
            <div>&#160;</div>
          </td>
          <td style="width: 15.46%; vertical-align: bottom;">
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          </td>
        </tr>
        <tr>
          <td style="width: 16.5%; vertical-align: bottom; font-family: 'Times New Roman';">
            <div>&#160;</div>
          </td>
          <td style="width: 10.3%; vertical-align: bottom; font-family: 'Times New Roman';">
            <div>&#160;</div>
          </td>
          <td style="width: 9.28%; vertical-align: bottom; font-family: 'Times New Roman';">
            <div style="text-align: center;">&#160;</div>
          </td>
          <td colspan="2" style="vertical-align: bottom;">
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          </td>
          <td style="width: 15.46%; vertical-align: bottom;">
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          </td>
        </tr>
        <tr>
          <td style="width: 16.5%; vertical-align: bottom; font-family: 'Times New Roman';">
            <div>&#160;</div>
          </td>
          <td style="width: 10.3%; vertical-align: bottom; font-family: 'Times New Roman';">
            <div>&#160;</div>
          </td>
          <td style="width: 9.28%; vertical-align: bottom; font-family: 'Times New Roman';">
            <div style="text-align: center;">&#160;</div>
          </td>
          <td style="width: 35.06%; vertical-align: bottom;">
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          </td>
          <td style="width: 13.4%; vertical-align: bottom; font-family: 'Times New Roman';">
            <div>&#160;</div>
          </td>
          <td style="width: 15.46%; vertical-align: bottom;">
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          </td>
        </tr>
        <tr>
          <td style="width: 16.5%; vertical-align: bottom; font-family: 'Times New Roman';">
            <div>&#160;</div>
          </td>
          <td style="width: 10.3%; vertical-align: bottom; font-family: 'Times New Roman';">
            <div>&#160;</div>
          </td>
          <td style="width: 9.28%; vertical-align: bottom; font-family: 'Times New Roman';">
            <div style="text-align: center;">&#160;</div>
          </td>
          <td colspan="2" style="vertical-align: bottom;">
            <div><font style="font-family: 'Times New Roman';">Manager, Nuveen Asset Management (1998-</font><font style="font-family: 'Times New Roman';">&#160;</font></div>
          </td>
          <td style="width: 15.46%; vertical-align: bottom; font-family: 'Times New Roman';">
            <div>&#160;</div>
          </td>
        </tr>
        <tr>
          <td style="width: 16.5%; vertical-align: bottom; font-family: 'Times New Roman';">
            <div>&#160;</div>
          </td>
          <td style="width: 10.3%; vertical-align: bottom; font-family: 'Times New Roman';">
            <div>&#160;</div>
          </td>
          <td style="width: 9.28%; vertical-align: bottom; font-family: 'Times New Roman';">
            <div style="text-align: center;">&#160;</div>
          </td>
          <td style="width: 35.06%; vertical-align: bottom;">
            <div><font style="font-family: 'Times New Roman';">1999); Vice President, Nuveen Investment</font><font style="font-family: 'Times New Roman';">&#160;</font></div>
          </td>
          <td style="width: 13.4%; vertical-align: bottom; font-family: 'Times New Roman';">
            <div>&#160;</div>
          </td>
          <td style="width: 15.46%; vertical-align: bottom;">
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          </td>
        </tr>
        <tr>
          <td style="width: 16.5%; vertical-align: bottom; font-family: 'Times New Roman';">
            <div>&#160;</div>
          </td>
          <td style="width: 10.3%; vertical-align: bottom; font-family: 'Times New Roman';">
            <div>&#160;</div>
          </td>
          <td style="width: 9.28%; vertical-align: bottom; font-family: 'Times New Roman';">
            <div style="text-align: center;">&#160;</div>
          </td>
          <td colspan="2" style="vertical-align: bottom;">
            <div><font style="font-family: 'Times New Roman';">Advisory Corp. (1992-1999); Vice President</font><font style="font-family: 'Times New Roman';">&#160;</font></div>
          </td>
          <td style="width: 15.46%; vertical-align: bottom;">
            <div style="text-indent: 0.2pt;"><font style="font-family: 'Times New Roman';">Duration</font><font style="font-family: 'Times New Roman';">&#160;</font></div>
          </td>
        </tr>
        <tr>
          <td style="width: 16.5%; vertical-align: bottom; font-family: 'Times New Roman';">
            <div>&#160;</div>
          </td>
          <td style="width: 10.3%; vertical-align: bottom; font-family: 'Times New Roman';">
            <div>&#160;</div>
          </td>
          <td style="width: 9.28%; vertical-align: bottom; font-family: 'Times New Roman';">
            <div style="text-align: center;">&#160;</div>
          </td>
          <td style="width: 35.06%; vertical-align: bottom;">
            <div><font style="font-family: 'Times New Roman';">and Manager, Nuveen Unit Investment</font><font style="font-family: 'Times New Roman';">&#160;</font></div>
          </td>
          <td style="width: 13.4%; vertical-align: bottom; font-family: 'Times New Roman';">
            <div>&#160;</div>
          </td>
          <td style="width: 15.46%; vertical-align: bottom;">
            <div style="text-indent: 0.2pt;"><font style="font-family: 'Times New Roman';">Investment Grade</font><font style="font-family: 'Times New Roman';">&#160;</font></div>
          </td>
        </tr>
        <tr>
          <td style="width: 16.5%; vertical-align: bottom; font-family: 'Times New Roman';">
            <div>&#160;</div>
          </td>
          <td style="width: 10.3%; vertical-align: bottom; font-family: 'Times New Roman';">
            <div>&#160;</div>
          </td>
          <td style="width: 9.28%; vertical-align: bottom; font-family: 'Times New Roman';">
            <div style="text-align: center;">&#160;</div>
          </td>
          <td style="width: 35.06%; vertical-align: bottom;">
            <div><font style="font-family: 'Times New Roman';">Trusts (1991-1999); and Assistant Vice</font><font style="font-family: 'Times New Roman';">&#160;</font></div>
          </td>
          <td style="width: 13.4%; vertical-align: bottom; font-family: 'Times New Roman';">
            <div>&#160;</div>
          </td>
          <td style="width: 15.46%; vertical-align: bottom;">
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          </td>
        </tr>
        <tr>
          <td style="width: 16.5%; vertical-align: bottom; font-family: 'Times New Roman';">
            <div>&#160;</div>
          </td>
          <td style="width: 10.3%; vertical-align: bottom; font-family: 'Times New Roman';">
            <div>&#160;</div>
          </td>
          <td style="width: 9.28%; vertical-align: bottom; font-family: 'Times New Roman';">
            <div style="text-align: center;">&#160;</div>
          </td>
          <td style="width: 35.06%; vertical-align: bottom;">
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          </td>
          <td style="width: 13.4%; vertical-align: bottom; font-family: 'Times New Roman';">
            <div>&#160;</div>
          </td>
          <td style="width: 15.46%; vertical-align: bottom;">
            <div style="text-indent: 0.2pt;"><font style="font-family: 'Times New Roman';">(2003-2016).</font><font style="font-family: 'Times New Roman';">&#160;</font></div>
          </td>
        </tr>
        <tr>
          <td style="width: 16.5%; vertical-align: bottom; font-family: 'Times New Roman';">
            <div>&#160;</div>
          </td>
          <td style="width: 10.3%; vertical-align: bottom; font-family: 'Times New Roman';">
            <div>&#160;</div>
          </td>
          <td style="width: 9.28%; vertical-align: bottom; font-family: 'Times New Roman';">
            <div style="text-align: center;">&#160;</div>
          </td>
          <td style="width: 35.06%; vertical-align: bottom;">
            <div><font style="font-family: 'Times New Roman';">Unit Investment Trusts (1988-1999), each</font><font style="font-family: 'Times New Roman';">&#160;</font></div>
          </td>
          <td style="width: 13.4%; vertical-align: bottom; font-family: 'Times New Roman';">
            <div>&#160;</div>
          </td>
          <td style="width: 15.46%; vertical-align: bottom; font-family: 'Times New Roman';">
            <div>&#160;</div>
          </td>
        </tr>
        <tr>
          <td style="width: 16.5%; vertical-align: bottom; font-family: 'Times New Roman';">
            <div>&#160;</div>
          </td>
          <td style="width: 10.3%; vertical-align: bottom; font-family: 'Times New Roman';">
            <div>&#160;</div>
          </td>
          <td style="width: 9.28%; vertical-align: bottom; font-family: 'Times New Roman';">
            <div style="text-align: center;">&#160;</div>
          </td>
          <td style="width: 35.06%; vertical-align: bottom;">
            <div><font style="font-family: 'Times New Roman';">of John Nuveen &amp; Co., Inc. (1982-1999).</font><font style="font-family: 'Times New Roman';">&#160;</font></div>
          </td>
          <td style="width: 13.4%; vertical-align: bottom; font-family: 'Times New Roman';">
            <div>&#160;</div>
          </td>
          <td style="width: 15.46%; vertical-align: bottom; font-family: 'Times New Roman';">
            <div>&#160;</div>
          </td>
        </tr>

    </table>
    <div style="margin-bottom: 6pt;">&#160;</div>
    <div style="text-align: center; margin-bottom: 6pt;">9</div>
    <div id="DSPFPageBreakArea" style="clear: both; margin-top: 10pt; margin-bottom: 10pt;">
      <div id="DSPFPageBreak" style="page-break-after: always;">
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    <br>
    <div style="margin-bottom: 6pt;"><br>
    </div>
    <table cellspacing="0" cellpadding="0" style="font-family: Arial; font-size: 10pt; width: 100%; border-collapse: collapse; text-align: left; color: #000000;" id="z6b7e8749802141eb9c3950a50403e088">

        <tr>
          <td style="width: 16.5%; vertical-align: middle; font-family: 'Times New Roman';">&#160;</td>
          <td style="width: 10.3%; vertical-align: middle; font-family: 'Times New Roman';">&#160;</td>
          <td style="width: 9.28%; vertical-align: middle; font-family: 'Times New Roman';">&#160;</td>
          <td style="width: 35.06%; vertical-align: middle; font-family: 'Times New Roman';">&#160;</td>
          <td style="width: 13.4%; vertical-align: middle; font-family: 'Times New Roman';">&#160;</td>
          <td style="width: 15.46%; vertical-align: middle; font-family: 'Times New Roman';">&#160;</td>
        </tr>
        <tr>
          <td style="width: 16.5%; vertical-align: bottom; font-family: 'Times New Roman';">
            <div>&#160;</div>
          </td>
          <td style="width: 10.3%; vertical-align: bottom; font-family: 'Times New Roman';">
            <div style="text-align: center;">&#160;</div>
          </td>
          <td style="width: 9.28%; vertical-align: bottom; font-family: 'Times New Roman';">
            <div style="text-align: center;">&#160;</div>
          </td>
          <td style="width: 35.06%; vertical-align: bottom; font-family: 'Times New Roman';">
            <div style="text-align: center;">&#160;</div>
          </td>
          <td style="width: 13.4%; vertical-align: bottom; font-family: 'Times New Roman';">
            <div style="text-align: center;">&#160;</div>
          </td>
          <td style="width: 15.46%; vertical-align: bottom;">
            <div style="text-align: center;"><font style="font-family: 'Times New Roman'; font-weight: bold;">Other</font><font style="font-family: 'Times New Roman';">&#160;</font></div>
          </td>
        </tr>
        <tr>
          <td style="width: 16.5%; vertical-align: bottom; font-family: 'Times New Roman';">
            <div>&#160;</div>
          </td>
          <td style="width: 10.3%; vertical-align: bottom; font-family: 'Times New Roman';">
            <div style="text-align: center;">&#160;</div>
          </td>
          <td style="width: 9.28%; vertical-align: bottom;">
            <div style="text-align: center;"><font style="font-family: 'Times New Roman'; font-weight: bold;">Term of</font><font style="font-family: 'Times New Roman';">&#160;</font></div>
          </td>
          <td style="width: 35.06%; vertical-align: bottom; font-family: 'Times New Roman';">
            <div style="text-align: center;">&#160;</div>
          </td>
          <td style="width: 13.4%; vertical-align: bottom; font-family: 'Times New Roman';">
            <div style="text-align: center;">&#160;</div>
          </td>
          <td style="width: 15.46%; vertical-align: bottom;">
            <div style="text-align: center;"><font style="font-family: 'Times New Roman'; font-weight: bold;">Directorships</font><font style="font-family: 'Times New Roman';">&#160;</font></div>
          </td>
        </tr>
        <tr>
          <td style="width: 16.5%; vertical-align: bottom; font-family: 'Times New Roman';">
            <div>&#160;</div>
          </td>
          <td style="width: 10.3%; vertical-align: bottom; font-family: 'Times New Roman';">
            <div style="text-align: center;">&#160;</div>
          </td>
          <td style="width: 9.28%; vertical-align: bottom;">
            <div style="text-align: center;"><font style="font-family: 'Times New Roman'; font-weight: bold;">Office</font><font style="font-family: 'Times New Roman';">&#160;</font></div>
          </td>
          <td style="width: 35.06%; vertical-align: bottom; font-family: 'Times New Roman';">
            <div style="text-align: center;">&#160;</div>
          </td>
          <td style="width: 13.4%; vertical-align: bottom;">
            <div style="text-align: center;"><font style="font-family: 'Times New Roman'; font-weight: bold;">Number of</font><font style="font-family: 'Times New Roman';">&#160;</font></div>
          </td>
          <td style="width: 15.46%; vertical-align: bottom;">
            <div style="text-align: center;"><font style="font-family: 'Times New Roman'; font-weight: bold;">held by</font><font style="font-family: 'Times New Roman';">&#160;</font></div>
          </td>
        </tr>
        <tr>
          <td style="width: 16.5%; vertical-align: bottom; font-family: 'Times New Roman';">
            <div>&#160;</div>
          </td>
          <td style="width: 10.3%; vertical-align: bottom; font-family: 'Times New Roman';">
            <div style="text-align: center;">&#160;</div>
          </td>
          <td style="width: 9.28%; vertical-align: bottom;">
            <div style="text-align: center;"><font style="font-family: 'Times New Roman'; font-weight: bold;">and</font><font style="font-family: 'Times New Roman';">&#160;</font></div>
          </td>
          <td style="width: 35.06%; vertical-align: bottom; font-family: 'Times New Roman';">
            <div style="text-align: center;">&#160;</div>
          </td>
          <td style="width: 13.4%; vertical-align: bottom;">
            <div style="text-align: center;"><font style="font-family: 'Times New Roman'; font-weight: bold;">Portfolios in</font><font style="font-family: 'Times New Roman';">&#160;</font></div>
          </td>
          <td style="width: 15.46%; vertical-align: bottom;">
            <div style="text-align: center;"><font style="font-family: 'Times New Roman'; font-weight: bold;">Trustee</font><font style="font-family: 'Times New Roman';">&#160;</font></div>
          </td>
        </tr>
        <tr>
          <td style="width: 16.5%; vertical-align: bottom;">
            <div><font style="font-family: 'Times New Roman'; font-weight: bold;">Name,</font><font style="font-family: 'Times New Roman';">&#160;</font></div>
          </td>
          <td style="width: 10.3%; vertical-align: bottom;">
            <div style="text-align: center;"><font style="font-family: 'Times New Roman'; font-weight: bold;">Position(s)&#160;</font><font style="font-family: 'Times New Roman';"> <br>
              </font></div>
          </td>
          <td style="width: 9.28%; vertical-align: bottom; text-align: center;"><font style="font-family: 'Times New Roman'; font-weight: bold;">Length</font></td>
          <td style="width: 35.06%; vertical-align: bottom;">
            <div style="text-align: center;"><br>
            </div>
          </td>
          <td style="width: 13.4%; vertical-align: bottom;">
            <div style="text-align: center;"><font style="font-family: 'Times New Roman'; font-weight: bold;">Fund Complex</font><font style="font-family: 'Times New Roman';"> <br>
              </font></div>
          </td>
          <td style="width: 15.46%; vertical-align: bottom;">
            <div style="text-align: center;"><font style="font-family: 'Times New Roman'; font-weight: bold;">During</font><font style="font-family: 'Times New Roman';">&#160;</font></div>
          </td>
        </tr>
        <tr>
          <td style="width: 16.5%; vertical-align: bottom;">
            <div><font style="font-family: 'Times New Roman'; font-weight: bold;">Address</font><font style="font-family: 'Times New Roman';"><sup style="font-weight: bold; vertical-align: text-top; line-height: 1; font-size: smaller;">(1)</sup>&#160;</font></div>
          </td>
          <td style="width: 10.3%; vertical-align: bottom;">
            <div style="text-align: center; text-indent: 1.05pt;"><font style="font-family: 'Times New Roman'; font-weight: bold;">Held with</font><font style="font-family: 'Times New Roman';">&#160;</font></div>
          </td>
          <td style="width: 9.28%; vertical-align: bottom;">
            <div style="text-align: center;"><font style="font-family: 'Times New Roman'; font-weight: bold;">of Time</font><font style="font-family: 'Times New Roman';">&#160;</font></div>
          </td>
          <td style="width: 35.06%; vertical-align: bottom;">
            <div style="text-align: center;"><font style="font-family: 'Times New Roman'; font-weight: bold;">Principal Occupation</font><font style="font-family: 'Times New Roman';">&#160;</font></div>
          </td>
          <td style="width: 13.4%; vertical-align: bottom;">
            <div style="text-align: center;"><font style="font-family: 'Times New Roman'; font-weight: bold;">Overseen by</font><font style="font-family: 'Times New Roman';">&#160;</font></div>
          </td>
          <td style="width: 15.46%; vertical-align: bottom;">
            <div style="text-align: center;"><font style="font-family: 'Times New Roman'; font-weight: bold;">the Past</font><font style="font-family: 'Times New Roman';">&#160;</font></div>
          </td>
        </tr>
        <tr>
          <td style="width: 16.5%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0);">
            <div><font style="font-family: 'Times New Roman'; font-weight: bold;">and Age</font><font style="font-family: 'Times New Roman';">&#160;</font></div>
          </td>
          <td style="width: 10.3%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0);">
            <div style="text-align: center;"><font style="font-family: 'Times New Roman'; font-weight: bold;">Funds</font><font style="font-family: 'Times New Roman';">&#160;</font></div>
          </td>
          <td style="width: 9.28%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0);">
            <div style="text-align: center;"><font style="font-family: 'Times New Roman'; font-weight: bold;">Served</font><font style="font-family: 'Times New Roman';">&#160;</font></div>
          </td>
          <td style="width: 35.06%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0);">
            <div style="text-align: center;"><font style="font-family: 'Times New Roman'; font-weight: bold;">During The Past Five Years</font><font style="font-family: 'Times New Roman';">&#160;</font></div>
          </td>
          <td style="width: 13.4%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0);">
            <div style="text-align: center;"><font style="font-family: 'Times New Roman'; font-weight: bold;">Trustee</font><font style="font-family: 'Times New Roman';">&#160;</font></div>
          </td>
          <td style="width: 15.46%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0);">
            <div style="text-align: center;"><font style="font-family: 'Times New Roman'; font-weight: bold;">Five Years</font><font style="font-family: 'Times New Roman';">&#160;</font></div>
          </td>
        </tr>
        <tr>
          <td colspan="6" style="vertical-align: middle; font-family: 'Times New Roman';">
            <div>&#160;</div>
          </td>
        </tr>
        <tr>
          <td colspan="2" style="vertical-align: bottom;">
            <div><font style="font-family: 'Times New Roman'; font-style: italic;">INTERESTED TRUSTEE:</font><font style="font-family: 'Times New Roman';">&#160;</font></div>
          </td>
          <td style="width: 9.28%; vertical-align: bottom; font-family: 'Times New Roman';">
            <div>&#160;</div>
          </td>
          <td style="width: 35.06%; vertical-align: bottom; font-family: 'Times New Roman';">
            <div>&#160;</div>
          </td>
          <td style="width: 13.4%; vertical-align: bottom; font-family: 'Times New Roman';">
            <div>&#160;</div>
          </td>
          <td style="width: 15.46%; vertical-align: bottom; font-family: 'Times New Roman';">
            <div>&#160;</div>
          </td>
        </tr>
        <tr>
          <td colspan="6" style="vertical-align: middle; font-family: 'Times New Roman';">
            <div>&#160;</div>
          </td>
        </tr>
        <tr>
          <td style="width: 16.5%; vertical-align: bottom;">
            <div><font style="font-family: 'Times New Roman';">Amy J.</font><font style="font-family: 'Times New Roman';">&#160;</font></div>
          </td>
          <td style="width: 10.3%; vertical-align: bottom;">
            <div style="text-indent: 6.15pt;"><font style="font-family: 'Times New Roman';">Interested</font><font style="font-family: 'Times New Roman';">&#160;</font></div>
          </td>
          <td style="width: 9.28%; vertical-align: bottom;">
            <div style="text-align: center;"><font style="font-family: 'Times New Roman';">&#8224;</font><font style="font-family: 'Times New Roman';">&#160;</font></div>
          </td>
          <td style="width: 35.06%; vertical-align: bottom;">
            <div style="text-indent: 0.2pt;"><font style="font-family: 'Times New Roman';">Current: Interested Trustee, certain other</font><font style="font-family: 'Times New Roman';">&#160;</font></div>
          </td>
          <td style="width: 13.4%; vertical-align: bottom;">
            <div style="text-align: center;"><font style="font-family: 'Times New Roman';">156</font><font style="font-family: 'Times New Roman';">&#160;</font></div>
          </td>
          <td style="width: 15.46%; vertical-align: bottom;">
            <div><font style="font-family: 'Times New Roman';">None</font><font style="font-family: 'Times New Roman';">&#160;</font></div>
          </td>
        </tr>
        <tr>
          <td style="width: 16.5%; vertical-align: bottom;">
            <div><font style="font-family: 'Times New Roman';">Lee*</font><font style="font-family: 'Times New Roman';">&#160;</font></div>
          </td>
          <td style="width: 10.3%; vertical-align: bottom; font-family: 'Times New Roman';">
            <div>&#160;</div>
          </td>
          <td style="width: 9.28%; vertical-align: bottom; font-family: 'Times New Roman';">
            <div>&#160;</div>
          </td>
          <td colspan="2" style="vertical-align: bottom;">
            <div style="text-indent: 0.2pt;"><font style="font-family: 'Times New Roman';">funds in the Fund Complex (2018-present);</font><font style="font-family: 'Times New Roman';">&#160;</font></div>
          </td>
          <td style="width: 15.46%; vertical-align: bottom; font-family: 'Times New Roman';">
            <div>&#160;</div>
          </td>
        </tr>
        <tr>
          <td style="width: 16.5%; vertical-align: bottom;">
            <div><font style="font-family: 'Times New Roman';">Year of birth: 1961</font><font style="font-family: 'Times New Roman';">&#160;</font></div>
          </td>
          <td style="width: 10.3%; vertical-align: bottom; font-family: 'Times New Roman';">
            <div>&#160;</div>
          </td>
          <td style="width: 9.28%; vertical-align: bottom; font-family: 'Times New Roman';">
            <div>&#160;</div>
          </td>
          <td style="width: 35.06%; vertical-align: bottom;">
            <div style="text-indent: 0.2pt;"><font style="font-family: 'Times New Roman';">Chief Legal Officer, certain other funds in</font><font style="font-family: 'Times New Roman';">&#160;</font></div>
          </td>
          <td style="width: 13.4%; vertical-align: bottom; font-family: 'Times New Roman';">
            <div>&#160;</div>
          </td>
          <td style="width: 15.46%; vertical-align: bottom; font-family: 'Times New Roman';">
            <div>&#160;</div>
          </td>
        </tr>
        <tr>
          <td style="width: 16.5%; vertical-align: bottom; font-family: 'Times New Roman';">
            <div>&#160;</div>
          </td>
          <td style="width: 10.3%; vertical-align: bottom; font-family: 'Times New Roman';">
            <div>&#160;</div>
          </td>
          <td style="width: 9.28%; vertical-align: bottom; font-family: 'Times New Roman';">
            <div>&#160;</div>
          </td>
          <td style="width: 35.06%; vertical-align: bottom;">
            <div><font style="font-family: 'Times New Roman';">the Fund Complex (2014-present); Vice</font><font style="font-family: 'Times New Roman';">&#160;</font></div>
          </td>
          <td style="width: 13.4%; vertical-align: bottom; font-family: 'Times New Roman';">
            <div>&#160;</div>
          </td>
          <td style="width: 15.46%; vertical-align: bottom; font-family: 'Times New Roman';">
            <div>&#160;</div>
          </td>
        </tr>
        <tr>
          <td style="width: 16.5%; vertical-align: bottom; font-family: 'Times New Roman';">
            <div>&#160;</div>
          </td>
          <td style="width: 10.3%; vertical-align: bottom; font-family: 'Times New Roman';">
            <div>&#160;</div>
          </td>
          <td style="width: 9.28%; vertical-align: bottom; font-family: 'Times New Roman';">
            <div>&#160;</div>
          </td>
          <td style="width: 35.06%; vertical-align: bottom;">
            <div><font style="font-family: 'Times New Roman';">President, certain other funds in the Fund</font><font style="font-family: 'Times New Roman';">&#160;</font></div>
          </td>
          <td style="width: 13.4%; vertical-align: bottom; font-family: 'Times New Roman';">
            <div>&#160;</div>
          </td>
          <td style="width: 15.46%; vertical-align: bottom; font-family: 'Times New Roman';">
            <div>&#160;</div>
          </td>
        </tr>
        <tr>
          <td style="width: 16.5%; vertical-align: bottom; font-family: 'Times New Roman';">
            <div>&#160;</div>
          </td>
          <td style="width: 10.3%; vertical-align: bottom; font-family: 'Times New Roman';">
            <div>&#160;</div>
          </td>
          <td style="width: 9.28%; vertical-align: bottom; font-family: 'Times New Roman';">
            <div>&#160;</div>
          </td>
          <td colspan="2" style="vertical-align: bottom;">
            <div><font style="font-family: 'Times New Roman';">Complex (2007-present); Senior Managing</font><font style="font-family: 'Times New Roman';">&#160;</font></div>
          </td>
          <td style="width: 15.46%; vertical-align: bottom; font-family: 'Times New Roman';">
            <div>&#160;</div>
          </td>
        </tr>
        <tr>
          <td style="width: 16.5%; vertical-align: bottom; font-family: 'Times New Roman';">
            <div>&#160;</div>
          </td>
          <td style="width: 10.3%; vertical-align: bottom; font-family: 'Times New Roman';">
            <div>&#160;</div>
          </td>
          <td style="width: 9.28%; vertical-align: bottom; font-family: 'Times New Roman';">
            <div>&#160;</div>
          </td>
          <td style="width: 35.06%; vertical-align: bottom;">
            <div><font style="font-family: 'Times New Roman';">Director, Guggenheim Investments</font><font style="font-family: 'Times New Roman';">&#160;</font></div>
          </td>
          <td style="width: 13.4%; vertical-align: bottom; font-family: 'Times New Roman';">
            <div>&#160;</div>
          </td>
          <td style="width: 15.46%; vertical-align: bottom; font-family: 'Times New Roman';">
            <div>&#160;</div>
          </td>
        </tr>
        <tr>
          <td style="width: 16.5%; vertical-align: bottom; font-family: 'Times New Roman';">
            <div>&#160;</div>
          </td>
          <td style="width: 10.3%; vertical-align: bottom; font-family: 'Times New Roman';">
            <div>&#160;</div>
          </td>
          <td style="width: 9.28%; vertical-align: bottom; font-family: 'Times New Roman';">
            <div>&#160;</div>
          </td>
          <td style="width: 35.06%; vertical-align: bottom;">
            <div><font style="font-family: 'Times New Roman';">(2012-present).</font><font style="font-family: 'Times New Roman';">&#160;</font></div>
          </td>
          <td style="width: 13.4%; vertical-align: bottom; font-family: 'Times New Roman';">
            <div>&#160;</div>
          </td>
          <td style="width: 15.46%; vertical-align: bottom; font-family: 'Times New Roman';">
            <div>&#160;</div>
          </td>
        </tr>
        <tr>
          <td colspan="6" style="vertical-align: middle; font-family: 'Times New Roman';">
            <div>&#160;</div>
          </td>
        </tr>
        <tr>
          <td style="width: 16.5%; vertical-align: bottom; font-family: 'Times New Roman';">
            <div>&#160;</div>
          </td>
          <td style="width: 10.3%; vertical-align: bottom; font-family: 'Times New Roman';">
            <div>&#160;</div>
          </td>
          <td style="width: 9.28%; vertical-align: bottom; font-family: 'Times New Roman';">
            <div>&#160;</div>
          </td>
          <td style="width: 35.06%; vertical-align: bottom;">
            <div><font style="font-family: 'Times New Roman';">Former: President and Chief Executive</font><font style="font-family: 'Times New Roman';">&#160;</font></div>
          </td>
          <td style="width: 13.4%; vertical-align: bottom; font-family: 'Times New Roman';">
            <div>&#160;</div>
          </td>
          <td style="width: 15.46%; vertical-align: bottom; font-family: 'Times New Roman';">
            <div>&#160;</div>
          </td>
        </tr>
        <tr>
          <td style="width: 16.5%; vertical-align: bottom; font-family: 'Times New Roman';">
            <div>&#160;</div>
          </td>
          <td style="width: 10.3%; vertical-align: bottom; font-family: 'Times New Roman';">
            <div>&#160;</div>
          </td>
          <td style="width: 9.28%; vertical-align: bottom; font-family: 'Times New Roman';">
            <div>&#160;</div>
          </td>
          <td style="width: 35.06%; vertical-align: bottom;">
            <div><font style="font-family: 'Times New Roman';">Officer, certain other funds in the Fund</font><font style="font-family: 'Times New Roman';">&#160;</font></div>
          </td>
          <td style="width: 13.4%; vertical-align: bottom; font-family: 'Times New Roman';">
            <div>&#160;</div>
          </td>
          <td style="width: 15.46%; vertical-align: bottom; font-family: 'Times New Roman';">
            <div>&#160;</div>
          </td>
        </tr>
        <tr>
          <td style="width: 16.5%; vertical-align: bottom; font-family: 'Times New Roman';">
            <div>&#160;</div>
          </td>
          <td style="width: 10.3%; vertical-align: bottom; font-family: 'Times New Roman';">
            <div>&#160;</div>
          </td>
          <td style="width: 9.28%; vertical-align: bottom; font-family: 'Times New Roman';">
            <div>&#160;</div>
          </td>
          <td style="width: 35.06%; vertical-align: bottom;">
            <div><font style="font-family: 'Times New Roman';">Complex (2017- 2019); Vice President,</font><font style="font-family: 'Times New Roman';">&#160;</font></div>
          </td>
          <td style="width: 13.4%; vertical-align: bottom; font-family: 'Times New Roman';">
            <div>&#160;</div>
          </td>
          <td style="width: 15.46%; vertical-align: bottom; font-family: 'Times New Roman';">
            <div>&#160;</div>
          </td>
        </tr>
        <tr>
          <td style="width: 16.5%; vertical-align: bottom; font-family: 'Times New Roman';">
            <div>&#160;</div>
          </td>
          <td style="width: 10.3%; vertical-align: bottom; font-family: 'Times New Roman';">
            <div>&#160;</div>
          </td>
          <td style="width: 9.28%; vertical-align: bottom; font-family: 'Times New Roman';">
            <div>&#160;</div>
          </td>
          <td style="width: 35.06%; vertical-align: bottom;">
            <div><font style="font-family: 'Times New Roman';">Associate General Counsel and Assistant</font><font style="font-family: 'Times New Roman';">&#160;</font></div>
          </td>
          <td style="width: 13.4%; vertical-align: bottom; font-family: 'Times New Roman';">
            <div>&#160;</div>
          </td>
          <td style="width: 15.46%; vertical-align: bottom; font-family: 'Times New Roman';">
            <div>&#160;</div>
          </td>
        </tr>
        <tr>
          <td style="width: 16.5%; vertical-align: bottom; font-family: 'Times New Roman';">
            <div>&#160;</div>
          </td>
          <td style="width: 10.3%; vertical-align: bottom; font-family: 'Times New Roman';">
            <div>&#160;</div>
          </td>
          <td style="width: 9.28%; vertical-align: bottom; font-family: 'Times New Roman';">
            <div>&#160;</div>
          </td>
          <td style="width: 35.06%; vertical-align: bottom;">
            <div><font style="font-family: 'Times New Roman';">Secretary, Security Benefit Life Insurance</font><font style="font-family: 'Times New Roman';">&#160;</font></div>
          </td>
          <td style="width: 13.4%; vertical-align: bottom; font-family: 'Times New Roman';">
            <div>&#160;</div>
          </td>
          <td style="width: 15.46%; vertical-align: bottom; font-family: 'Times New Roman';">
            <div>&#160;</div>
          </td>
        </tr>
        <tr>
          <td style="width: 16.5%; vertical-align: bottom; font-family: 'Times New Roman';">
            <div>&#160;</div>
          </td>
          <td style="width: 10.3%; vertical-align: bottom; font-family: 'Times New Roman';">
            <div>&#160;</div>
          </td>
          <td style="width: 9.28%; vertical-align: bottom; font-family: 'Times New Roman';">
            <div>&#160;</div>
          </td>
          <td colspan="2" style="vertical-align: bottom;">
            <div><font style="font-family: 'Times New Roman';">Company and Security Benefit Corporation</font><font style="font-family: 'Times New Roman';">&#160;</font></div>
          </td>
          <td style="width: 15.46%; vertical-align: bottom; font-family: 'Times New Roman';">
            <div>&#160;</div>
          </td>
        </tr>
        <tr>
          <td style="width: 16.5%; vertical-align: bottom; font-family: 'Times New Roman';">
            <div>&#160;</div>
          </td>
          <td style="width: 10.3%; vertical-align: bottom; font-family: 'Times New Roman';">
            <div>&#160;</div>
          </td>
          <td style="width: 9.28%; vertical-align: bottom; font-family: 'Times New Roman';">
            <div>&#160;</div>
          </td>
          <td style="width: 35.06%; vertical-align: bottom;">
            <div><font style="font-family: 'Times New Roman';">(2004-2012).</font><font style="font-family: 'Times New Roman';">&#160;</font></div>
          </td>
          <td style="width: 13.4%; vertical-align: bottom; font-family: 'Times New Roman';">
            <div>&#160;</div>
          </td>
          <td style="width: 15.46%; vertical-align: bottom; font-family: 'Times New Roman';">
            <div>&#160;</div>
          </td>
        </tr>

    </table>
    <div style="margin-bottom: 6pt;">&#160;
      <hr align="left" style="height: 2px; width: 10%; color: #000000; background-color: #000000; margin-left: 0px; margin-right: auto; border: none;"></div>
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        <tr>
          <td style="width: 2.83%; vertical-align: top; font-family: 'Times New Roman';">
            <div><sup style="vertical-align: text-top; line-height: 1; font-size: smaller;">(1)</sup></div>
          </td>
          <td colspan="1" style="width: 97.17%; vertical-align: bottom;">
            <div><font style="font-family: 'Times New Roman';">The business address of each Trustee is Guggenheim Investments, 227 West Monroe Street, 7th Floor,</font><font style="font-family: 'Times New Roman';"> </font><font style="font-family: 'Times New Roman';">Chicago, Illinois 60606.</font><font style="font-family: 'Times New Roman';">&#160;</font></div>
          </td>
        </tr>
        <tr>
          <td style="width: 2.83%; vertical-align: top;">
            <div><font style="font-family: 'Times New Roman';">*</font><font style="font-family: 'Times New Roman';">&#160;</font></div>
          </td>
          <td colspan="1" style="width: 97.17%; vertical-align: bottom;">
            <div><font style="font-family: 'Times New Roman';">Ms. Lee is deemed to be an &#8220;interested person&#8221; of the Funds under the 1940 Act by reason of her</font><font style="font-family: 'Times New Roman';"> </font><font style="font-family: 'Times New Roman';">position with the Adviser and/or affiliates of the Adviser.</font><font style="font-family: 'Times New Roman';">&#160;</font></div>
          </td>
        </tr>
        <tr>
          <td style="width: 2.83%; vertical-align: top;">
            <div><font style="font-family: 'Times New Roman';">&#8224;</font><font style="font-family: 'Times New Roman';">&#160;</font></div>
          </td>
          <td colspan="1" style="width: 97.17%; vertical-align: bottom;">
            <div><font style="font-family: 'Times New Roman';">Each Trustee is generally expected to serve a term as set forth herein under &#8220;Composition of the</font><font style="font-family: 'Times New Roman';"> </font><font style="font-family: 'Times New Roman';">Board of Trustees.&#8221; Each Trustee has served as a Trustee of each respective Fund since the year</font><font style="font-family: 'Times New Roman';"> </font><font style="font-family: 'Times New Roman';">shown below:</font><font style="font-family: 'Times New Roman';">&#160;</font></div>
          </td>
        </tr>

    </table>
    <div style="margin-bottom: 6pt;">&#160;</div>
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        <tr>
          <td style="width: 50%; vertical-align: middle; font-family: 'Times New Roman';">&#160;</td>
          <td style="width: 10%; vertical-align: middle; font-family: 'Times New Roman';">&#160;</td>
          <td style="width: 10%; vertical-align: middle; font-family: 'Times New Roman';">&#160;</td>
          <td style="width: 10%; vertical-align: middle; font-family: 'Times New Roman';">&#160;</td>
          <td style="width: 10%; vertical-align: middle; font-family: 'Times New Roman';">&#160;</td>
          <td style="width: 10%; vertical-align: middle; font-family: 'Times New Roman';">&#160;</td>
        </tr>
        <tr>
          <td style="width: 50%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0); font-family: 'Times New Roman';">
            <div>&#160;</div>
          </td>
          <td style="width: 10%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0);">
            <div style="text-align: center;"><font style="font-family: 'Times New Roman'; font-weight: bold;">FMO</font><font style="font-family: 'Times New Roman';">&#160;</font></div>
          </td>
          <td style="width: 10%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0);">
            <div style="text-align: center;"><font style="font-family: 'Times New Roman'; font-weight: bold;">GBAB</font><font style="font-family: 'Times New Roman';">&#160;</font></div>
          </td>
          <td style="width: 10%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0);">
            <div style="text-align: center;"><font style="font-family: 'Times New Roman'; font-weight: bold;">GGM</font><font style="font-family: 'Times New Roman';">&#160;</font></div>
          </td>
          <td style="width: 10%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0);">
            <div style="text-align: center;"><font style="font-family: 'Times New Roman'; font-weight: bold;">GPM</font><font style="font-family: 'Times New Roman';">&#160;</font></div>
          </td>
          <td style="width: 10%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0);">
            <div style="text-align: center;"><font style="font-family: 'Times New Roman'; font-weight: bold;">GOF</font><font style="font-family: 'Times New Roman';">&#160;</font></div>
          </td>
        </tr>
        <tr>
          <td style="width: 50%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
            <div><font style="font-family: 'Times New Roman'; font-style: italic;">Independent Trustees</font><font style="font-family: 'Times New Roman';">&#160;</font></div>
          </td>
          <td style="width: 10%; vertical-align: bottom; font-family: 'Times New Roman'; background-color: rgb(204, 238, 255);">
            <div style="text-align: center;">&#160;</div>
          </td>
          <td style="width: 10%; vertical-align: bottom; font-family: 'Times New Roman'; background-color: rgb(204, 238, 255);">
            <div style="text-align: center;">&#160;</div>
          </td>
          <td style="width: 10%; vertical-align: bottom; font-family: 'Times New Roman'; background-color: rgb(204, 238, 255);">
            <div style="text-align: center;">&#160;</div>
          </td>
          <td style="width: 10%; vertical-align: bottom; font-family: 'Times New Roman'; background-color: rgb(204, 238, 255);">
            <div style="text-align: center;">&#160;</div>
          </td>
          <td style="width: 10%; vertical-align: bottom; font-family: 'Times New Roman'; background-color: rgb(204, 238, 255);">
            <div style="text-align: center;">&#160;</div>
          </td>
        </tr>
        <tr>
          <td style="width: 50%; vertical-align: bottom; background-color: rgb(255, 255, 255);">
            <div><font style="font-family: 'Times New Roman';">Barnes</font><font style="font-family: 'Times New Roman';">&#160;</font></div>
          </td>
          <td style="width: 10%; vertical-align: bottom; background-color: rgb(255, 255, 255);">
            <div style="text-align: center;"><font style="font-family: 'Times New Roman';">2004</font><font style="font-family: 'Times New Roman';">&#160;</font></div>
          </td>
          <td style="width: 10%; vertical-align: bottom; background-color: rgb(255, 255, 255);">
            <div style="text-align: center;"><font style="font-family: 'Times New Roman';">2010</font><font style="font-family: 'Times New Roman';">&#160;</font></div>
          </td>
          <td style="width: 10%; vertical-align: bottom; background-color: rgb(255, 255, 255);">
            <div style="text-align: center;"><font style="font-family: 'Times New Roman';">2013</font><font style="font-family: 'Times New Roman';">&#160;</font></div>
          </td>
          <td style="width: 10%; vertical-align: bottom; background-color: rgb(255, 255, 255);">
            <div style="text-align: center;"><font style="font-family: 'Times New Roman';">2005</font><font style="font-family: 'Times New Roman';">&#160;</font></div>
          </td>
          <td style="width: 10%; vertical-align: bottom; background-color: rgb(255, 255, 255);">
            <div style="text-align: center;"><font style="font-family: 'Times New Roman';">2007</font><font style="font-family: 'Times New Roman';">&#160;</font></div>
          </td>
        </tr>
        <tr>
          <td style="width: 50%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
            <div><font style="font-family: 'Times New Roman';">Brock-Kyle</font><font style="font-family: 'Times New Roman';">&#160;</font></div>
          </td>
          <td style="width: 10%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
            <div style="text-align: center;"><font style="font-family: 'Times New Roman';">2019</font><font style="font-family: 'Times New Roman';">&#160;</font></div>
          </td>
          <td style="width: 10%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
            <div style="text-align: center;"><font style="font-family: 'Times New Roman';">2019</font><font style="font-family: 'Times New Roman';">&#160;</font></div>
          </td>
          <td style="width: 10%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
            <div style="text-align: center;"><font style="font-family: 'Times New Roman';">2019</font><font style="font-family: 'Times New Roman';">&#160;</font></div>
          </td>
          <td style="width: 10%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
            <div style="text-align: center;"><font style="font-family: 'Times New Roman';">2019</font><font style="font-family: 'Times New Roman';">&#160;</font></div>
          </td>
          <td style="width: 10%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
            <div style="text-align: center;"><font style="font-family: 'Times New Roman';">2019</font><font style="font-family: 'Times New Roman';">&#160;</font></div>
          </td>
        </tr>
        <tr>
          <td style="width: 50%; vertical-align: bottom; background-color: rgb(255, 255, 255);">
            <div><font style="font-family: 'Times New Roman';">Chubb</font><font style="font-family: 'Times New Roman';">&#160;</font></div>
          </td>
          <td style="width: 10%; vertical-align: bottom; background-color: rgb(255, 255, 255);">
            <div style="text-align: center;"><font style="font-family: 'Times New Roman';">2014</font><font style="font-family: 'Times New Roman';">&#160;</font></div>
          </td>
          <td style="width: 10%; vertical-align: bottom; background-color: rgb(255, 255, 255);">
            <div style="text-align: center;"><font style="font-family: 'Times New Roman';">2014</font><font style="font-family: 'Times New Roman';">&#160;</font></div>
          </td>
          <td style="width: 10%; vertical-align: bottom; background-color: rgb(255, 255, 255);">
            <div style="text-align: center;"><font style="font-family: 'Times New Roman';">2014</font><font style="font-family: 'Times New Roman';">&#160;</font></div>
          </td>
          <td style="width: 10%; vertical-align: bottom; background-color: rgb(255, 255, 255);">
            <div style="text-align: center;"><font style="font-family: 'Times New Roman';">2014</font><font style="font-family: 'Times New Roman';">&#160;</font></div>
          </td>
          <td style="width: 10%; vertical-align: bottom; background-color: rgb(255, 255, 255);">
            <div style="text-align: center;"><font style="font-family: 'Times New Roman';">2014</font><font style="font-family: 'Times New Roman';">&#160;</font></div>
          </td>
        </tr>
        <tr>
          <td style="width: 50%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
            <div><font style="font-family: 'Times New Roman';">Farley</font><font style="font-family: 'Times New Roman';">&#160;</font></div>
          </td>
          <td style="width: 10%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
            <div style="text-align: center;"><font style="font-family: 'Times New Roman';">2014</font><font style="font-family: 'Times New Roman';">&#160;</font></div>
          </td>
          <td style="width: 10%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
            <div style="text-align: center;"><font style="font-family: 'Times New Roman';">2014</font><font style="font-family: 'Times New Roman';">&#160;</font></div>
          </td>
          <td style="width: 10%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
            <div style="text-align: center;"><font style="font-family: 'Times New Roman';">2014</font><font style="font-family: 'Times New Roman';">&#160;</font></div>
          </td>
          <td style="width: 10%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
            <div style="text-align: center;"><font style="font-family: 'Times New Roman';">2014</font><font style="font-family: 'Times New Roman';">&#160;</font></div>
          </td>
          <td style="width: 10%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
            <div style="text-align: center;"><font style="font-family: 'Times New Roman';">2014</font><font style="font-family: 'Times New Roman';">&#160;</font></div>
          </td>
        </tr>
        <tr>
          <td style="width: 50%; vertical-align: bottom; background-color: rgb(255, 255, 255);">
            <div><font style="font-family: 'Times New Roman';">Friedrich</font><font style="font-family: 'Times New Roman';">&#160;</font></div>
          </td>
          <td style="width: 10%; vertical-align: bottom; background-color: rgb(255, 255, 255);">
            <div style="text-align: center;"><font style="font-family: 'Times New Roman';">2011</font><font style="font-family: 'Times New Roman';">&#160;</font></div>
          </td>
          <td style="width: 10%; vertical-align: bottom; background-color: rgb(255, 255, 255);">
            <div style="text-align: center;"><font style="font-family: 'Times New Roman';">2010</font><font style="font-family: 'Times New Roman';">&#160;</font></div>
          </td>
          <td style="width: 10%; vertical-align: bottom; background-color: rgb(255, 255, 255);">
            <div style="text-align: center;"><font style="font-family: 'Times New Roman';">2013</font><font style="font-family: 'Times New Roman';">&#160;</font></div>
          </td>
          <td style="width: 10%; vertical-align: bottom; background-color: rgb(255, 255, 255);">
            <div style="text-align: center;"><font style="font-family: 'Times New Roman';">2011</font><font style="font-family: 'Times New Roman';">&#160;</font></div>
          </td>
          <td style="width: 10%; vertical-align: bottom; background-color: rgb(255, 255, 255);">
            <div style="text-align: center;"><font style="font-family: 'Times New Roman';">2010</font><font style="font-family: 'Times New Roman';">&#160;</font></div>
          </td>
        </tr>
        <tr>
          <td style="width: 50%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
            <div><font style="font-family: 'Times New Roman';">Lydon</font><font style="font-family: 'Times New Roman';">&#160;</font></div>
          </td>
          <td style="width: 10%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
            <div style="text-align: center;"><font style="font-family: 'Times New Roman';">2019</font><font style="font-family: 'Times New Roman';">&#160;</font></div>
          </td>
          <td style="width: 10%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
            <div style="text-align: center;"><font style="font-family: 'Times New Roman';">2019</font><font style="font-family: 'Times New Roman';">&#160;</font></div>
          </td>
          <td style="width: 10%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
            <div style="text-align: center;"><font style="font-family: 'Times New Roman';">2019</font><font style="font-family: 'Times New Roman';">&#160;</font></div>
          </td>
          <td style="width: 10%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
            <div style="text-align: center;"><font style="font-family: 'Times New Roman';">2019</font><font style="font-family: 'Times New Roman';">&#160;</font></div>
          </td>
          <td style="width: 10%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
            <div style="text-align: center;"><font style="font-family: 'Times New Roman';">2019</font><font style="font-family: 'Times New Roman';">&#160;</font></div>
          </td>
        </tr>
        <tr>
          <td style="width: 50%; vertical-align: bottom; background-color: rgb(255, 255, 255);">
            <div><font style="font-family: 'Times New Roman';">Nyberg</font><font style="font-family: 'Times New Roman';">&#160;</font></div>
          </td>
          <td style="width: 10%; vertical-align: bottom; background-color: rgb(255, 255, 255);">
            <div style="text-align: center;"><font style="font-family: 'Times New Roman';">2004</font><font style="font-family: 'Times New Roman';">&#160;</font></div>
          </td>
          <td style="width: 10%; vertical-align: bottom; background-color: rgb(255, 255, 255);">
            <div style="text-align: center;"><font style="font-family: 'Times New Roman';">2010</font><font style="font-family: 'Times New Roman';">&#160;</font></div>
          </td>
          <td style="width: 10%; vertical-align: bottom; background-color: rgb(255, 255, 255);">
            <div style="text-align: center;"><font style="font-family: 'Times New Roman';">2013</font><font style="font-family: 'Times New Roman';">&#160;</font></div>
          </td>
          <td style="width: 10%; vertical-align: bottom; background-color: rgb(255, 255, 255);">
            <div style="text-align: center;"><font style="font-family: 'Times New Roman';">2005</font><font style="font-family: 'Times New Roman';">&#160;</font></div>
          </td>
          <td style="width: 10%; vertical-align: bottom; background-color: rgb(255, 255, 255);">
            <div style="text-align: center;"><font style="font-family: 'Times New Roman';">2007</font><font style="font-family: 'Times New Roman';">&#160;</font></div>
          </td>
        </tr>
        <tr>
          <td style="width: 50%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
            <div><font style="font-family: 'Times New Roman';">Sponem</font><font style="font-family: 'Times New Roman';">&#160;</font></div>
          </td>
          <td style="width: 10%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
            <div style="text-align: center;"><font style="font-family: 'Times New Roman';">2019</font><font style="font-family: 'Times New Roman';">&#160;</font></div>
          </td>
          <td style="width: 10%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
            <div style="text-align: center;"><font style="font-family: 'Times New Roman';">2019</font><font style="font-family: 'Times New Roman';">&#160;</font></div>
          </td>
          <td style="width: 10%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
            <div style="text-align: center;"><font style="font-family: 'Times New Roman';">2019</font><font style="font-family: 'Times New Roman';">&#160;</font></div>
          </td>
          <td style="width: 10%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
            <div style="text-align: center;"><font style="font-family: 'Times New Roman';">2019</font><font style="font-family: 'Times New Roman';">&#160;</font></div>
          </td>
          <td style="width: 10%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
            <div style="text-align: center;"><font style="font-family: 'Times New Roman';">2019</font><font style="font-family: 'Times New Roman';">&#160;</font></div>
          </td>
        </tr>
        <tr>
          <td style="width: 50%; vertical-align: bottom; background-color: rgb(255, 255, 255);">
            <div><font style="font-family: 'Times New Roman';">Toupin</font><font style="font-family: 'Times New Roman';">&#160;</font></div>
          </td>
          <td style="width: 10%; vertical-align: bottom; background-color: rgb(255, 255, 255);">
            <div style="text-align: center;"><font style="font-family: 'Times New Roman';">2004</font><font style="font-family: 'Times New Roman';">&#160;</font></div>
          </td>
          <td style="width: 10%; vertical-align: bottom; background-color: rgb(255, 255, 255);">
            <div style="text-align: center;"><font style="font-family: 'Times New Roman';">2010</font><font style="font-family: 'Times New Roman';">&#160;</font></div>
          </td>
          <td style="width: 10%; vertical-align: bottom; background-color: rgb(255, 255, 255);">
            <div style="text-align: center;"><font style="font-family: 'Times New Roman';">2013</font><font style="font-family: 'Times New Roman';">&#160;</font></div>
          </td>
          <td style="width: 10%; vertical-align: bottom; background-color: rgb(255, 255, 255);">
            <div style="text-align: center;"><font style="font-family: 'Times New Roman';">2005</font><font style="font-family: 'Times New Roman';">&#160;</font></div>
          </td>
          <td style="width: 10%; vertical-align: bottom; background-color: rgb(255, 255, 255);">
            <div style="text-align: center;"><font style="font-family: 'Times New Roman';">2007</font><font style="font-family: 'Times New Roman';">&#160;</font></div>
          </td>
        </tr>
        <tr>
          <td style="width: 50%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
            <div><font style="font-family: 'Times New Roman'; font-style: italic;">Interested Trustee</font><font style="font-family: 'Times New Roman';">&#160;</font></div>
          </td>
          <td style="width: 10%; vertical-align: bottom; font-family: 'Times New Roman'; background-color: rgb(204, 238, 255);">
            <div style="text-align: center;">&#160;</div>
          </td>
          <td style="width: 10%; vertical-align: bottom; font-family: 'Times New Roman'; background-color: rgb(204, 238, 255);">
            <div style="text-align: center;">&#160;</div>
          </td>
          <td style="width: 10%; vertical-align: bottom; font-family: 'Times New Roman'; background-color: rgb(204, 238, 255);">
            <div style="text-align: center;">&#160;</div>
          </td>
          <td style="width: 10%; vertical-align: bottom; font-family: 'Times New Roman'; background-color: rgb(204, 238, 255);">
            <div style="text-align: center;">&#160;</div>
          </td>
          <td style="width: 10%; vertical-align: bottom; font-family: 'Times New Roman'; background-color: rgb(204, 238, 255);">
            <div style="text-align: center;">&#160;</div>
          </td>
        </tr>
        <tr>
          <td style="width: 50%; vertical-align: bottom; background-color: rgb(255, 255, 255);">
            <div><font style="font-family: 'Times New Roman';">Lee</font><font style="font-family: 'Times New Roman';">&#160;</font></div>
          </td>
          <td style="width: 10%; vertical-align: bottom; background-color: rgb(255, 255, 255);">
            <div style="text-align: center;"><font style="font-family: 'Times New Roman';">2018</font><font style="font-family: 'Times New Roman';">&#160;</font></div>
          </td>
          <td style="width: 10%; vertical-align: bottom; background-color: rgb(255, 255, 255);">
            <div style="text-align: center;"><font style="font-family: 'Times New Roman';">2018</font><font style="font-family: 'Times New Roman';">&#160;</font></div>
          </td>
          <td style="width: 10%; vertical-align: bottom; background-color: rgb(255, 255, 255);">
            <div style="text-align: center;"><font style="font-family: 'Times New Roman';">2018</font><font style="font-family: 'Times New Roman';">&#160;</font></div>
          </td>
          <td style="width: 10%; vertical-align: bottom; background-color: rgb(255, 255, 255);">
            <div style="text-align: center;"><font style="font-family: 'Times New Roman';">2018</font><font style="font-family: 'Times New Roman';">&#160;</font></div>
          </td>
          <td style="width: 10%; vertical-align: bottom; background-color: rgb(255, 255, 255);">
            <div style="text-align: center;"><font style="font-family: 'Times New Roman';">2018</font><font style="font-family: 'Times New Roman';">&#160;</font></div>
          </td>
        </tr>

    </table>
    <div style="margin-bottom: 6pt;">&#160;</div>
    <div style="margin-bottom: 6pt; font-weight: bold;">Trustee Qualifications</div>
    <div style="margin-bottom: 6pt;">&#160;&#160;&#160;&#160;&#160;The Trustees were selected to serve on the Board based upon their skills, experience, judgment, analytical ability, diligence, ability to work effectively with other Trustees, availability and commitment to attend
      meetings and perform the responsibilities of a Trustee and a willingness to take an independent and questioning view of management.</div>
    <div style="margin-bottom: 6pt;">&#160;&#160;&#160;&#160;&#160;The following is a summary of the experience, qualifications, attributes and skills of each Trustee that support the conclusion, as of the date of the date hereof, that each Trustee should serve as a Trustee in
      light of the Funds&#8217; business and structure. References to the qualifications, attributes and skills of Trustees do</div>
    <div style="text-align: center; margin-bottom: 6pt;">10</div>
    <div id="DSPFPageBreakArea" style="clear: both; margin-top: 10pt; margin-bottom: 10pt;">
      <div id="DSPFPageBreak" style="page-break-after: always;">
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    </div>
    <br>
    <div style="margin-bottom: 6pt;"><br>
    </div>
    <div style="margin-bottom: 6pt;">not constitute the holding out of any Trustee as being an expert under Section 7 of the Securities Act of 1933.</div>
    <div style="margin-bottom: 6pt;">&#160;&#160;&#160;&#160;&#160;<font style="font-style: italic;">Randall C. Barnes. </font>Mr. Barnes has served as a trustee of certain funds in the Fund Complex since 2004. Through his service as a Trustee of the Funds and a trustee of other
      funds in the Fund Complex, his service on other registered investment company boards, prior employment experience as President of Pizza Hut International and as Treasurer of PepsiCo, Inc. and his personal investment experience. Mr. Barnes is
      experienced in financial, accounting, regulatory and investment matters.</div>
    <div style="margin-bottom: 6pt;">&#160;&#160;&#160;&#160;&#160;<font style="font-style: italic;">Angela Brock-Kyle. </font>Ms. Brock-Kyle has served as a trustee of certain funds in the Fund Complex since 2016. Through her service as a trustee of other funds in the Fund
      Complex, prior employment experience, including at TIAA where she spent 25 years in leadership roles, and her experience serving on the boards of public, private and non-profit organizations, including service as audit committee chair and as a member
      of governance and nominating committees, Ms. Brock-Kyle is experienced in financial, accounting, governance and investment matters.</div>
    <div style="margin-bottom: 6pt;">&#160;&#160;&#160;&#160;&#160;<font style="font-style: italic;">Donald A. Chubb, Jr. </font>Mr. Chubb has served as a trustee of certain funds in the Fund Complex since 1994. Through his service as a Trustee of the Funds and a trustee of other
      funds in the Fund Complex, his prior experience in the commercial brokerage and commercial real estate market, and service as a director of Fidelity State Bank and Trust Company (Topeka, KS), Mr. Chubb is experienced in financial, regulatory and
      investment matters.</div>
    <div style="margin-bottom: 6pt;">&#160;&#160;&#160;&#160;&#160;<font style="font-style: italic;">Dr. Jerry B. Farley. </font>Dr. Farley has served as a trustee of certain funds in the Fund Complex since 2005. Dr. Farley currently serves as President of Washburn University and
      previously served in various executive positions for the University of Oklahoma and Oklahoma State University. He has also been a Certified Public Accountant since 1972 and, although he has not practiced public accounting, his business
      responsibilities at educational institutions have included all aspects of financial management and reporting. Through his service as a Trustee of the Funds and trustee of other funds in the Fund Complex, as well as Chair of the Audit Committee, and
      his experience in the administration of the academic, business and fiscal operations of educational institutions, including currently serving as President of Washburn University, and service on other boards, Dr. Farley is experienced in accounting,
      financial, regulatory and investment matters. The Board has determined that Dr. Farley is an &#8220;audit committee financial expert&#8221; as defined by the SEC.</div>
    <div style="margin-bottom: 6pt;">&#160;&#160;&#160;&#160;&#160;<font style="font-style: italic;">Roman Friedrich III. </font>Mr. Friedrich has served as a trustee of certain funds in the Fund Complex since 2003. Through his service as a Trustee of the Funds and a trustee of
      other funds in the Fund Complex, as well as Chair of the Contracts Review Committee, his prior service on other public company boards, his experience as Founder and Managing Partner of Roman Friedrich &amp; Company, a financial advisory firm, and his
      prior experience as a senior executive of various</div>
    <div style="text-align: center; margin-bottom: 6pt;">11</div>
    <div id="DSPFPageBreakArea" style="clear: both; margin-top: 10pt; margin-bottom: 10pt;">
      <div id="DSPFPageBreak" style="page-break-after: always;">
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    </div>
    <br>
    <div style="margin-bottom: 6pt;"><br>
    </div>
    <div style="margin-bottom: 6pt;">financial securities firms, Mr. Friedrich is experienced in financial, investment and regulatory matters.</div>
    <div style="margin-bottom: 6pt;">&#160;&#160;&#160;&#160;&#160;<font style="font-style: italic;">Amy J. Lee. </font>Ms. Lee has served as a trustee of certain funds in the Fund Complex since 2018. Through her service as a Trustee of the Funds, her service as Chief Legal
      Officer of the Fund Complex, her service as Senior Managing Director of Guggenheim Investments, as well as her prior experience as Associate General Counsel, Vice President and Assistant Secretary of Security Benefit Corporation, Ms. Lee is
      experienced in financial, legal, regulatory and governance matters.</div>
    <div style="margin-bottom: 6pt;">&#160;&#160;&#160;&#160;&#160;<font style="font-style: italic;">Thomas F. Lydon, Jr. </font>Mr. Lydon has served as a trustee of certain funds in the Fund Complex since 2005. Through his service as a trustee of other funds in the Fund Complex,
      his experience as President of Global Trends Investments, a registered investment adviser, his service on the board of U.S. Global Investors, Inc. (GROW), an investment adviser and transfer agent, as well as his service on another board and his
      authorship and editorial experience regarding exchange-traded funds, Mr. Lydon is experienced in financial, investment and governance matters.</div>
    <div style="margin-bottom: 6pt; text-indent: 9pt;"><font style="font-style: italic;">Ronald A. Nyberg.</font> Mr. Nyberg has served as a trustee of certain funds in the Fund Complex since 2003. Through his service as a Trustee of the Funds and a
      trustee of other funds in the Fund Complex, as well as Chair of the Nominating &amp; Governance Committee, his service on other registered investment company boards, his professional training and experience as an attorney and partner of a law firm,
      Momkus LLC, and his prior employment experience, including as an attorney and partner of a law firm, Nyberg &amp; Cassioppi, LLC, and Executive Vice President and General Counsel of Van Kampen Investments, an asset management firm, Mr. Nyberg is
      experienced in financial, regulatory and governance matters.</div>
    <div style="margin-bottom: 6pt;">&#160;&#160;&#160;&#160;&#160;<font style="font-style: italic;">Sandra G. Sponem. </font>Ms. Sponem has served as a trustee of certain funds in the Fund Complex since 2016. Through her service as a trustee of other funds in the Fund Complex,
      her service on other registered investment company boards, her prior employment experience, including as Chief Financial Officer of Piper Jaffray Companies, Inc. and its predecessor, U.S. Bancorp Piper Jaffray, Inc., and as Senior Vice President and
      Chief Financial Officer of M.A. Mortenson Company, a construction and real estate development company, her Certified Public Accountant designation and previously held securities licenses and extensive knowledge of accounting and finance and the
      financial services industry, Ms. Sponem is experienced in accounting, financial, governance and investment matters. The Board has determined that Ms. Sponem is an &#8220;audit committee financial expert&#8221; as defined by the SEC.</div>
    <div style="margin-bottom: 6pt;">&#160;&#160;&#160;&#160;&#160;<font style="font-style: italic;">Ronald E. Toupin, Jr. </font>Mr. Toupin has served as a trustee of certain funds in the Fund Complex since 2003. Mr. Toupin currently serves on the Governing Council of the
      Independent Directors Council (IDC) of the Investment Company Institute (ICI) and on the Board of Governors of the ICI. Through his service as a Trustee and a trustee of other funds in the Fund Complex, as well as the Independent Chair of the Board,
      his service on other registered investment company boards, and his professional training and prior employment experience,</div>
    <div style="text-align: center; margin-bottom: 6pt;">12</div>
    <div id="DSPFPageBreakArea" style="clear: both; margin-top: 10pt; margin-bottom: 10pt;">
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    </div>
    <br>
    <div style="margin-bottom: 6pt;"><br>
    </div>
    <div style="margin-bottom: 6pt;">including Vice President and Portfolio Manager for Nuveen Asset Management, an asset management firm, Mr. Toupin is experienced in financial, regulatory and investment matters.</div>
    <div style="margin-bottom: 6pt;">&#160;&#160;&#160;&#160;&#160;Each Trustee also has considerable familiarity with the Funds, the Funds&#8217; investment advisers and other service providers, and their operations, as well as the special regulatory requirements governing registered
      investment companies and the special responsibilities of investment company trustees as a result of his/her substantial prior service as a Trustee of the Funds and/or other funds in the Fund Complex, or with respect to Ms. Lee, her extensive
      experience in the financial industry, including her experience with the parent of the investment advisers of the funds of the Fund Complex.</div>
    <div style="margin-bottom: 6pt; font-weight: bold;">Executive Officers</div>
    <div style="margin-bottom: 6pt;">&#160;&#160;&#160;&#160;&#160;The following information relates to the executive officers of the Funds who are not Trustees. Fund officers receive no compensation from the Funds but may also be officers or employees of the Adviser, a
      Sub-Adviser or affiliates of the Adviser or a Sub-Adviser and may receive compensation in such capacities.</div>
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          <td style="width: 10%; vertical-align: middle; font-family: 'Times New Roman';">&#160;</td>
          <td style="width: 14%; vertical-align: middle; font-family: 'Times New Roman';">&#160;</td>
          <td style="width: 56%; vertical-align: middle; font-family: 'Times New Roman';">&#160;</td>
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          <td style="width: 20%; vertical-align: bottom; font-family: 'Times New Roman';">
            <div>&#160;</div>
          </td>
          <td style="width: 10%; vertical-align: bottom; font-family: 'Times New Roman';">
            <div>&#160;</div>
          </td>
          <td style="width: 14%; vertical-align: bottom;">
            <div style="text-align: center;"><font style="font-family: 'Times New Roman'; font-weight: bold;">Term of</font><font style="font-family: 'Times New Roman';">&#160;</font></div>
          </td>
          <td style="width: 56%; vertical-align: bottom; font-family: 'Times New Roman';">
            <div style="text-align: center;">&#160;</div>
          </td>
        </tr>
        <tr>
          <td style="width: 20%; vertical-align: bottom; font-family: 'Times New Roman';">
            <div>&#160;</div>
          </td>
          <td style="width: 10%; vertical-align: bottom;">
            <div style="text-align: center;"><br>
            </div>
          </td>
          <td style="width: 14%; vertical-align: bottom;">
            <div style="text-align: center;"><font style="font-family: 'Times New Roman'; font-weight: bold;">Office and</font><font style="font-family: 'Times New Roman';"> <br>
              </font></div>
          </td>
          <td style="width: 56%; vertical-align: bottom; font-family: 'Times New Roman';">
            <div style="text-align: center;">&#160;</div>
          </td>
        </tr>
        <tr>
          <td style="width: 20%; vertical-align: bottom;">
            <div><font style="font-family: 'Times New Roman'; font-weight: bold;">Name,</font><font style="font-family: 'Times New Roman';">&#160;</font></div>
          </td>
          <td style="width: 10%; vertical-align: bottom; font-family: 'Times New Roman';">
            <div>&#160;</div>
          </td>
          <td style="width: 14%; vertical-align: bottom;">
            <div style="text-align: center;"><font style="font-family: 'Times New Roman'; font-weight: bold;">Length</font><font style="font-family: 'Times New Roman';">&#160;</font></div>
          </td>
          <td style="width: 56%; vertical-align: bottom; font-family: 'Times New Roman';">
            <div style="text-align: center;">&#160;</div>
          </td>
        </tr>
        <tr>
          <td style="width: 20%; vertical-align: bottom;">
            <div><font style="font-family: 'Times New Roman'; font-weight: bold;">Address</font><font style="font-family: 'Times New Roman';"><sup style="font-weight: bold; vertical-align: text-top; line-height: 1; font-size: smaller;">(1)</sup>&#160;</font></div>
          </td>
          <td style="width: 10%; vertical-align: bottom; font-family: 'Times New Roman';">
            <div>&#160;</div>
          </td>
          <td style="width: 14%; vertical-align: bottom;">
            <div style="text-align: center;"><font style="font-family: 'Times New Roman'; font-weight: bold;">of Time</font><font style="font-family: 'Times New Roman';">&#160;</font></div>
          </td>
          <td style="width: 56%; vertical-align: bottom;">
            <div style="text-align: center;"><font style="font-family: 'Times New Roman'; font-weight: bold;">Principal Occupation</font><font style="font-family: 'Times New Roman';">&#160;</font></div>
          </td>
        </tr>
        <tr>
          <td style="width: 20%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0);">
            <div><font style="font-family: 'Times New Roman'; font-weight: bold;">and Age</font><font style="font-family: 'Times New Roman';">&#160;</font></div>
          </td>
          <td style="width: 10%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0);">
            <div><font style="font-family: 'Times New Roman'; font-weight: bold;">Title</font><font style="font-family: 'Times New Roman';">&#160;</font></div>
          </td>
          <td style="width: 14%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0);">
            <div style="text-align: center;"><font style="font-family: 'Times New Roman'; font-weight: bold;">Served</font><font style="font-family: 'Times New Roman';"><sup style="font-weight: bold; vertical-align: text-top; line-height: 1; font-size: smaller;">(2)</sup>&#160;</font></div>
          </td>
          <td style="width: 56%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0);">
            <div style="text-align: center;"><font style="font-family: 'Times New Roman'; font-weight: bold;">During the Past Five Years</font><font style="font-family: 'Times New Roman';">&#160;</font></div>
          </td>
        </tr>
        <tr>
          <td colspan="4" style="vertical-align: middle; font-family: 'Times New Roman';">
            <div>&#160;</div>
          </td>
        </tr>
        <tr>
          <td style="width: 20%; vertical-align: bottom;">
            <div><font style="font-family: 'Times New Roman';">Brian E. Binder</font><font style="font-family: 'Times New Roman';">&#160;</font></div>
          </td>
          <td style="width: 10%; vertical-align: bottom;">
            <div style="text-indent: 2pt;"><font style="font-family: 'Times New Roman';">President</font><font style="font-family: 'Times New Roman';">&#160;</font></div>
          </td>
          <td style="width: 14%; vertical-align: bottom;">
            <div style="text-indent: 8.1pt;"><font style="font-family: 'Times New Roman';">Since 2018</font><font style="font-family: 'Times New Roman';">&#160;</font></div>
          </td>
          <td style="width: 56%; vertical-align: bottom;">
            <div><font style="font-family: 'Times New Roman';">Current: President and Chief Executive Officer,</font><font style="font-family: 'Times New Roman';">&#160;</font></div>
          </td>
        </tr>
        <tr>
          <td style="width: 20%; vertical-align: bottom;">
            <div><font style="font-family: 'Times New Roman';">Year of birth: 1972</font><font style="font-family: 'Times New Roman';">&#160;</font></div>
          </td>
          <td style="width: 10%; vertical-align: bottom;">
            <div style="text-indent: 2pt;"><font style="font-family: 'Times New Roman';">and</font><font style="font-family: 'Times New Roman';">&#160;</font></div>
          </td>
          <td style="width: 14%; vertical-align: bottom; font-family: 'Times New Roman';">
            <div>&#160;</div>
          </td>
          <td style="width: 56%; vertical-align: bottom;">
            <div><font style="font-family: 'Times New Roman';">certain other funds in the Fund Complex (2018-</font><font style="font-family: 'Times New Roman';">&#160;</font></div>
          </td>
        </tr>
        <tr>
          <td style="width: 20%; vertical-align: bottom; font-family: 'Times New Roman';">
            <div>&#160;</div>
          </td>
          <td style="width: 10%; vertical-align: bottom;">
            <div style="text-indent: 2pt;"><font style="font-family: 'Times New Roman';">Chief</font><font style="font-family: 'Times New Roman';">&#160;</font></div>
          </td>
          <td style="width: 14%; vertical-align: bottom; font-family: 'Times New Roman';">
            <div>&#160;</div>
          </td>
          <td style="width: 56%; vertical-align: bottom;">
            <div><font style="font-family: 'Times New Roman';">present); President, Chief Executive Officer and</font><font style="font-family: 'Times New Roman';">&#160;</font></div>
          </td>
        </tr>
        <tr>
          <td style="width: 20%; vertical-align: bottom; font-family: 'Times New Roman';">
            <div>&#160;</div>
          </td>
          <td colspan="2" style="vertical-align: bottom;">
            <div style="text-indent: 2pt;"><font style="font-family: 'Times New Roman';">Executive</font><font style="font-family: 'Times New Roman';">&#160;</font></div>
          </td>
          <td style="width: 56%; vertical-align: bottom;">
            <div><font style="font-family: 'Times New Roman';">Chairman of the Board of Managers, Guggenheim</font><font style="font-family: 'Times New Roman';">&#160;</font></div>
          </td>
        </tr>
        <tr>
          <td style="width: 20%; vertical-align: bottom; font-family: 'Times New Roman';">
            <div>&#160;</div>
          </td>
          <td style="width: 10%; vertical-align: bottom;">
            <div style="text-indent: 2pt;"><font style="font-family: 'Times New Roman';">Officer</font><font style="font-family: 'Times New Roman';">&#160;</font></div>
          </td>
          <td style="width: 14%; vertical-align: bottom; font-family: 'Times New Roman';">
            <div>&#160;</div>
          </td>
          <td style="width: 56%; vertical-align: bottom;">
            <div><font style="font-family: 'Times New Roman';">Funds Investment Advisors, LLC (2018-present);</font><font style="font-family: 'Times New Roman';">&#160;</font></div>
          </td>
        </tr>
        <tr>
          <td style="width: 20%; vertical-align: bottom; font-family: 'Times New Roman';">
            <div>&#160;</div>
          </td>
          <td style="width: 10%; vertical-align: bottom; font-family: 'Times New Roman';">
            <div>&#160;</div>
          </td>
          <td style="width: 14%; vertical-align: bottom; font-family: 'Times New Roman';">
            <div>&#160;</div>
          </td>
          <td style="width: 56%; vertical-align: bottom;">
            <div><font style="font-family: 'Times New Roman';">President and Chief Executive Officer, Security</font><font style="font-family: 'Times New Roman';">&#160;</font></div>
          </td>
        </tr>
        <tr>
          <td style="width: 20%; vertical-align: bottom; font-family: 'Times New Roman';">
            <div>&#160;</div>
          </td>
          <td style="width: 10%; vertical-align: bottom; font-family: 'Times New Roman';">
            <div>&#160;</div>
          </td>
          <td style="width: 14%; vertical-align: bottom; font-family: 'Times New Roman';">
            <div>&#160;</div>
          </td>
          <td style="width: 56%; vertical-align: bottom;">
            <div><font style="font-family: 'Times New Roman';">Investors, LLC (2018-present); Board Member of</font><font style="font-family: 'Times New Roman';">&#160;</font></div>
          </td>
        </tr>
        <tr>
          <td style="width: 20%; vertical-align: bottom; font-family: 'Times New Roman';">
            <div>&#160;</div>
          </td>
          <td style="width: 10%; vertical-align: bottom; font-family: 'Times New Roman';">
            <div>&#160;</div>
          </td>
          <td style="width: 14%; vertical-align: bottom; font-family: 'Times New Roman';">
            <div>&#160;</div>
          </td>
          <td style="width: 56%; vertical-align: bottom;">
            <div><font style="font-family: 'Times New Roman';">Guggenheim Partners Fund Management</font><font style="font-family: 'Times New Roman';">&#160;</font></div>
          </td>
        </tr>
        <tr>
          <td style="width: 20%; vertical-align: bottom; font-family: 'Times New Roman';">
            <div>&#160;</div>
          </td>
          <td style="width: 10%; vertical-align: bottom; font-family: 'Times New Roman';">
            <div>&#160;</div>
          </td>
          <td style="width: 14%; vertical-align: bottom; font-family: 'Times New Roman';">
            <div>&#160;</div>
          </td>
          <td style="width: 56%; vertical-align: bottom;">
            <div><font style="font-family: 'Times New Roman';">(Europe) Limited (2018-present); Senior</font><font style="font-family: 'Times New Roman';">&#160;</font></div>
          </td>
        </tr>
        <tr>
          <td style="width: 20%; vertical-align: bottom; font-family: 'Times New Roman';">
            <div>&#160;</div>
          </td>
          <td style="width: 10%; vertical-align: bottom; font-family: 'Times New Roman';">
            <div>&#160;</div>
          </td>
          <td style="width: 14%; vertical-align: bottom; font-family: 'Times New Roman';">
            <div>&#160;</div>
          </td>
          <td style="width: 56%; vertical-align: bottom;">
            <div><font style="font-family: 'Times New Roman';">Managing Director and Chief Administrative</font><font style="font-family: 'Times New Roman';">&#160;</font></div>
          </td>
        </tr>
        <tr>
          <td style="width: 20%; vertical-align: bottom; font-family: 'Times New Roman';">
            <div>&#160;</div>
          </td>
          <td style="width: 10%; vertical-align: bottom; font-family: 'Times New Roman';">
            <div>&#160;</div>
          </td>
          <td style="width: 14%; vertical-align: bottom; font-family: 'Times New Roman';">
            <div>&#160;</div>
          </td>
          <td style="width: 56%; vertical-align: bottom;">
            <div><font style="font-family: 'Times New Roman';">Officer, Guggenheim Investments (2018-present).</font><font style="font-family: 'Times New Roman';">&#160;</font></div>
          </td>
        </tr>
        <tr>
          <td colspan="4" style="vertical-align: middle; font-family: 'Times New Roman';">
            <div>&#160;</div>
          </td>
        </tr>
        <tr>
          <td style="width: 20%; vertical-align: bottom; font-family: 'Times New Roman';">
            <div>&#160;</div>
          </td>
          <td style="width: 10%; vertical-align: bottom; font-family: 'Times New Roman';">
            <div>&#160;</div>
          </td>
          <td style="width: 14%; vertical-align: bottom; font-family: 'Times New Roman';">
            <div>&#160;</div>
          </td>
          <td style="width: 56%; vertical-align: bottom;">
            <div><font style="font-family: 'Times New Roman';">Former: Managing Director and President,</font><font style="font-family: 'Times New Roman';">&#160;</font></div>
          </td>
        </tr>
        <tr>
          <td style="width: 20%; vertical-align: bottom; font-family: 'Times New Roman';">
            <div>&#160;</div>
          </td>
          <td style="width: 10%; vertical-align: bottom; font-family: 'Times New Roman';">
            <div>&#160;</div>
          </td>
          <td style="width: 14%; vertical-align: bottom; font-family: 'Times New Roman';">
            <div>&#160;</div>
          </td>
          <td style="width: 56%; vertical-align: bottom;">
            <div><font style="font-family: 'Times New Roman';">Deutsche Funds, and Head of US Product,</font><font style="font-family: 'Times New Roman';">&#160;</font></div>
          </td>
        </tr>
        <tr>
          <td style="width: 20%; vertical-align: bottom; font-family: 'Times New Roman';">
            <div>&#160;</div>
          </td>
          <td style="width: 10%; vertical-align: bottom; font-family: 'Times New Roman';">
            <div>&#160;</div>
          </td>
          <td style="width: 14%; vertical-align: bottom; font-family: 'Times New Roman';">
            <div>&#160;</div>
          </td>
          <td style="width: 56%; vertical-align: bottom;">
            <div><font style="font-family: 'Times New Roman';">Trading and Fund Administration, Deutsche Asset</font><font style="font-family: 'Times New Roman';">&#160;</font></div>
          </td>
        </tr>
        <tr>
          <td style="width: 20%; vertical-align: bottom; font-family: 'Times New Roman';">
            <div>&#160;</div>
          </td>
          <td style="width: 10%; vertical-align: bottom; font-family: 'Times New Roman';">
            <div>&#160;</div>
          </td>
          <td style="width: 14%; vertical-align: bottom; font-family: 'Times New Roman';">
            <div>&#160;</div>
          </td>
          <td style="width: 56%; vertical-align: bottom;">
            <div><font style="font-family: 'Times New Roman';">Management (2013-2018); Managing Director,</font><font style="font-family: 'Times New Roman';">&#160;</font></div>
          </td>
        </tr>
        <tr>
          <td style="width: 20%; vertical-align: bottom; font-family: 'Times New Roman';">
            <div>&#160;</div>
          </td>
          <td style="width: 10%; vertical-align: bottom; font-family: 'Times New Roman';">
            <div>&#160;</div>
          </td>
          <td style="width: 14%; vertical-align: bottom; font-family: 'Times New Roman';">
            <div>&#160;</div>
          </td>
          <td style="width: 56%; vertical-align: bottom;">
            <div><font style="font-family: 'Times New Roman';">Head of Business Management and Consulting,</font><font style="font-family: 'Times New Roman';">&#160;</font></div>
          </td>
        </tr>
        <tr>
          <td style="width: 20%; vertical-align: bottom; font-family: 'Times New Roman';">
            <div>&#160;</div>
          </td>
          <td style="width: 10%; vertical-align: bottom; font-family: 'Times New Roman';">
            <div>&#160;</div>
          </td>
          <td style="width: 14%; vertical-align: bottom; font-family: 'Times New Roman';">
            <div>&#160;</div>
          </td>
          <td style="width: 56%; vertical-align: bottom;">
            <div><font style="font-family: 'Times New Roman';">Invesco Ltd. (2010-2012).</font><font style="font-family: 'Times New Roman';">&#160;</font></div>
          </td>
        </tr>
        <tr>
          <td colspan="4" style="vertical-align: middle; font-family: 'Times New Roman';">
            <div>&#160;</div>
          </td>
        </tr>
        <tr>
          <td style="width: 20%; vertical-align: bottom;">
            <div><font style="font-family: 'Times New Roman';">Bryan Stone</font><font style="font-family: 'Times New Roman';">&#160;</font></div>
          </td>
          <td style="width: 10%; vertical-align: bottom;">
            <div style="text-indent: 2pt;"><font style="font-family: 'Times New Roman';">Vice</font><font style="font-family: 'Times New Roman';">&#160;</font></div>
          </td>
          <td style="width: 14%; vertical-align: bottom;">
            <div style="text-indent: 8.1pt;"><font style="font-family: 'Times New Roman';">Since 2014</font><font style="font-family: 'Times New Roman';">&#160;</font></div>
          </td>
          <td style="width: 56%; vertical-align: bottom;">
            <div><font style="font-family: 'Times New Roman';">Current: Vice President, certain other funds in</font><font style="font-family: 'Times New Roman';">&#160;</font></div>
          </td>
        </tr>
        <tr>
          <td style="width: 20%; vertical-align: bottom;">
            <div><font style="font-family: 'Times New Roman';">Year of birth: 1979</font><font style="font-family: 'Times New Roman';">&#160;</font></div>
          </td>
          <td style="width: 10%; vertical-align: bottom;">
            <div style="text-indent: 2pt;"><font style="font-family: 'Times New Roman';">President</font><font style="font-family: 'Times New Roman';">&#160;</font></div>
          </td>
          <td style="width: 14%; vertical-align: bottom; font-family: 'Times New Roman';">
            <div>&#160;</div>
          </td>
          <td style="width: 56%; vertical-align: bottom;">
            <div><font style="font-family: 'Times New Roman';">the Fund Complex (2014-present); Managing</font><font style="font-family: 'Times New Roman';">&#160;</font></div>
          </td>
        </tr>
        <tr>
          <td style="width: 20%; vertical-align: bottom; font-family: 'Times New Roman';">
            <div>&#160;</div>
          </td>
          <td style="width: 10%; vertical-align: bottom; font-family: 'Times New Roman';">
            <div>&#160;</div>
          </td>
          <td style="width: 14%; vertical-align: bottom; font-family: 'Times New Roman';">
            <div>&#160;</div>
          </td>
          <td style="width: 56%; vertical-align: bottom;">
            <div><font style="font-family: 'Times New Roman';">Director, Guggenheim Investments (2013-</font><font style="font-family: 'Times New Roman';">&#160;</font></div>
          </td>
        </tr>
        <tr>
          <td style="width: 20%; vertical-align: bottom; font-family: 'Times New Roman';">
            <div>&#160;</div>
          </td>
          <td style="width: 10%; vertical-align: bottom; font-family: 'Times New Roman';">
            <div>&#160;</div>
          </td>
          <td style="width: 14%; vertical-align: bottom; font-family: 'Times New Roman';">
            <div>&#160;</div>
          </td>
          <td style="width: 56%; vertical-align: bottom;">
            <div><font style="font-family: 'Times New Roman';">present).</font><font style="font-family: 'Times New Roman';">&#160;</font></div>
          </td>
        </tr>
        <tr>
          <td colspan="4" style="vertical-align: middle; font-family: 'Times New Roman';">
            <div>&#160;</div>
          </td>
        </tr>
        <tr>
          <td style="width: 20%; vertical-align: bottom; font-family: 'Times New Roman';">
            <div>&#160;</div>
          </td>
          <td style="width: 10%; vertical-align: bottom; font-family: 'Times New Roman';">
            <div>&#160;</div>
          </td>
          <td style="width: 14%; vertical-align: bottom; font-family: 'Times New Roman';">
            <div>&#160;</div>
          </td>
          <td style="width: 56%; vertical-align: bottom;">
            <div><font style="font-family: 'Times New Roman';">Former: Senior Vice President, Neuberger</font><font style="font-family: 'Times New Roman';">&#160;</font></div>
          </td>
        </tr>
        <tr>
          <td style="width: 20%; vertical-align: bottom; font-family: 'Times New Roman';">
            <div>&#160;</div>
          </td>
          <td style="width: 10%; vertical-align: bottom; font-family: 'Times New Roman';">
            <div>&#160;</div>
          </td>
          <td style="width: 14%; vertical-align: bottom; font-family: 'Times New Roman';">
            <div>&#160;</div>
          </td>
          <td style="width: 56%; vertical-align: bottom;">
            <div><font style="font-family: 'Times New Roman';">Berman Group LLC (2009-2013); Vice President,</font><font style="font-family: 'Times New Roman';">&#160;</font></div>
          </td>
        </tr>
        <tr>
          <td style="width: 20%; vertical-align: bottom; font-family: 'Times New Roman';">
            <div>&#160;</div>
          </td>
          <td style="width: 10%; vertical-align: bottom; font-family: 'Times New Roman';">
            <div>&#160;</div>
          </td>
          <td style="width: 14%; vertical-align: bottom; font-family: 'Times New Roman';">
            <div>&#160;</div>
          </td>
          <td style="width: 56%; vertical-align: bottom;">
            <div><font style="font-family: 'Times New Roman';">Morgan Stanley (2002-2009).</font><font style="font-family: 'Times New Roman';">&#160;</font></div>
          </td>
        </tr>

    </table>
    <div style="margin-bottom: 6pt;">&#160;</div>
    <div style="text-align: center; margin-bottom: 6pt;">13</div>
    <div id="DSPFPageBreakArea" style="clear: both; margin-top: 10pt; margin-bottom: 10pt;">
      <div id="DSPFPageBreak" style="page-break-after: always;">
        <hr noshade="noshade" style="border-width: 0px; clear: both; margin: 4px 0px; width: 100%; height: 2px; color: #000000; background-color: #000000;"></div>
    </div>
    <br>
    <div style="margin-bottom: 6pt;"><br>
    </div>
    <table cellspacing="0" cellpadding="0" style="font-family: Arial; font-size: 10pt; width: 100%; border-collapse: collapse; text-align: left; color: #000000;" id="ze253135890194ee087c64d5fe39938af">

        <tr>
          <td style="width: 20%; vertical-align: middle; font-family: 'Times New Roman';">&#160;</td>
          <td style="width: 10%; vertical-align: middle; font-family: 'Times New Roman';">&#160;</td>
          <td style="width: 14%; vertical-align: middle; font-family: 'Times New Roman';">&#160;</td>
          <td style="width: 56%; vertical-align: middle; font-family: 'Times New Roman';">&#160;</td>
        </tr>
        <tr>
          <td style="width: 20%; vertical-align: bottom; font-family: 'Times New Roman';">
            <div>&#160;</div>
          </td>
          <td style="width: 10%; vertical-align: bottom; font-family: 'Times New Roman';">
            <div>&#160;</div>
          </td>
          <td style="width: 14%; vertical-align: bottom;">
            <div style="text-align: center;"><font style="font-family: 'Times New Roman'; font-weight: bold;">Term of</font><font style="font-family: 'Times New Roman';">&#160;</font></div>
          </td>
          <td style="width: 56%; vertical-align: bottom; font-family: 'Times New Roman';">
            <div>&#160;</div>
          </td>
        </tr>
        <tr>
          <td style="width: 20%; vertical-align: bottom; font-family: 'Times New Roman';">
            <div>&#160;</div>
          </td>
          <td style="width: 10%; vertical-align: bottom;">
            <div style="text-align: center;"><br>
            </div>
          </td>
          <td style="width: 14%; vertical-align: bottom;">
            <div style="text-align: center;"><font style="font-family: 'Times New Roman'; font-weight: bold;">Office and</font><font style="font-family: 'Times New Roman';"> <br>
              </font></div>
          </td>
          <td style="width: 56%; vertical-align: bottom; font-family: 'Times New Roman';">
            <div>&#160;</div>
          </td>
        </tr>
        <tr>
          <td style="width: 20%; vertical-align: bottom;">
            <div><font style="font-family: 'Times New Roman'; font-weight: bold;">Name,</font><font style="font-family: 'Times New Roman';">&#160;</font></div>
          </td>
          <td style="width: 10%; vertical-align: bottom; font-family: 'Times New Roman';">
            <div>&#160;</div>
          </td>
          <td style="width: 14%; vertical-align: bottom;">
            <div style="text-align: center;"><font style="font-family: 'Times New Roman'; font-weight: bold;">Length</font><font style="font-family: 'Times New Roman';">&#160;</font></div>
          </td>
          <td style="width: 56%; vertical-align: bottom; font-family: 'Times New Roman';">
            <div>&#160;</div>
          </td>
        </tr>
        <tr>
          <td style="width: 20%; vertical-align: bottom;">
            <div><font style="font-family: 'Times New Roman'; font-weight: bold;">Address</font><font style="font-family: 'Times New Roman';"><sup style="font-weight: bold; vertical-align: text-top; line-height: 1; font-size: smaller;">(1)</sup>&#160;</font></div>
          </td>
          <td style="width: 10%; vertical-align: bottom; font-family: 'Times New Roman';">
            <div>&#160;</div>
          </td>
          <td style="width: 14%; vertical-align: bottom;">
            <div style="text-align: center;"><font style="font-family: 'Times New Roman'; font-weight: bold;">of Time</font><font style="font-family: 'Times New Roman';">&#160;</font></div>
          </td>
          <td style="width: 56%; vertical-align: bottom;">
            <div style="text-align: center;"><font style="font-family: 'Times New Roman'; font-weight: bold;">Principal Occupation</font><font style="font-family: 'Times New Roman';">&#160;</font></div>
          </td>
        </tr>
        <tr>
          <td style="width: 20%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0);">
            <div><font style="font-family: 'Times New Roman'; font-weight: bold;">and Age</font><font style="font-family: 'Times New Roman';">&#160;</font></div>
          </td>
          <td style="width: 10%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0);">
            <div><font style="font-family: 'Times New Roman'; font-weight: bold;">Title</font><font style="font-family: 'Times New Roman';">&#160;</font></div>
          </td>
          <td style="width: 14%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0);">
            <div style="text-align: center;"><font style="font-family: 'Times New Roman'; font-weight: bold;">Served</font><font style="font-family: 'Times New Roman';"><sup style="font-weight: bold; vertical-align: text-top; line-height: 1; font-size: smaller;">(2)</sup>&#160;</font></div>
          </td>
          <td style="width: 56%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0);">
            <div style="text-align: center;"><font style="font-family: 'Times New Roman'; font-weight: bold;">During the Past Five Years</font><font style="font-family: 'Times New Roman';">&#160;</font></div>
          </td>
        </tr>
        <tr>
          <td colspan="4" style="vertical-align: middle; font-family: 'Times New Roman';">
            <div>&#160;</div>
          </td>
        </tr>
        <tr>
          <td style="width: 20%; vertical-align: bottom;">
            <div><font style="font-family: 'Times New Roman';">Joanna Catalucci</font><font style="font-family: 'Times New Roman';">&#160;</font></div>
          </td>
          <td style="width: 10%; vertical-align: bottom;">
            <div style="text-indent: 2pt;"><font style="font-family: 'Times New Roman';">Chief</font><font style="font-family: 'Times New Roman';">&#160;</font></div>
          </td>
          <td style="width: 14%; vertical-align: bottom;">
            <div style="text-indent: 8.1pt;"><font style="font-family: 'Times New Roman';">Since 2012</font><font style="font-family: 'Times New Roman';">&#160;</font></div>
          </td>
          <td style="width: 56%; vertical-align: bottom;">
            <div><font style="font-family: 'Times New Roman';">Current: Chief Compliance Officer, certain funds</font><font style="font-family: 'Times New Roman';">&#160;</font></div>
          </td>
        </tr>
        <tr>
          <td style="width: 20%; vertical-align: bottom;">
            <div><font style="font-family: 'Times New Roman';">Year of birth: 1966</font><font style="font-family: 'Times New Roman';">&#160;</font></div>
          </td>
          <td colspan="2" style="vertical-align: bottom;">
            <div style="text-indent: 2pt;"><font style="font-family: 'Times New Roman';">Compliance</font><font style="font-family: 'Times New Roman';">&#160;</font></div>
          </td>
          <td style="width: 56%; vertical-align: bottom;">
            <div><font style="font-family: 'Times New Roman';">in the Fund Complex (2012-present); Senior</font><font style="font-family: 'Times New Roman';">&#160;</font></div>
          </td>
        </tr>
        <tr>
          <td style="width: 20%; vertical-align: bottom; font-family: 'Times New Roman';">
            <div>&#160;</div>
          </td>
          <td style="width: 10%; vertical-align: bottom;">
            <div style="text-indent: 2pt;"><font style="font-family: 'Times New Roman';">Officer</font><font style="font-family: 'Times New Roman';">&#160;</font></div>
          </td>
          <td style="width: 14%; vertical-align: bottom; font-family: 'Times New Roman';">
            <div>&#160;</div>
          </td>
          <td style="width: 56%; vertical-align: bottom;">
            <div><font style="font-family: 'Times New Roman';">Managing Director, Guggenheim Investments</font><font style="font-family: 'Times New Roman';">&#160;</font></div>
          </td>
        </tr>
        <tr>
          <td style="width: 20%; vertical-align: bottom; font-family: 'Times New Roman';">
            <div>&#160;</div>
          </td>
          <td style="width: 10%; vertical-align: bottom; font-family: 'Times New Roman';">
            <div>&#160;</div>
          </td>
          <td style="width: 14%; vertical-align: bottom; font-family: 'Times New Roman';">
            <div>&#160;</div>
          </td>
          <td style="width: 56%; vertical-align: bottom;">
            <div><font style="font-family: 'Times New Roman';">(2014-present).</font><font style="font-family: 'Times New Roman';">&#160;</font></div>
          </td>
        </tr>
        <tr>
          <td colspan="4" style="vertical-align: middle; font-family: 'Times New Roman';">
            <div>&#160;</div>
          </td>
        </tr>
        <tr>
          <td style="width: 20%; vertical-align: bottom; font-family: 'Times New Roman';">
            <div>&#160;</div>
          </td>
          <td style="width: 10%; vertical-align: bottom; font-family: 'Times New Roman';">
            <div>&#160;</div>
          </td>
          <td style="width: 14%; vertical-align: bottom; font-family: 'Times New Roman';">
            <div>&#160;</div>
          </td>
          <td style="width: 56%; vertical-align: bottom;">
            <div><font style="font-family: 'Times New Roman';">Former: Anti-Money Laundering Compliance</font><font style="font-family: 'Times New Roman';">&#160;</font></div>
          </td>
        </tr>
        <tr>
          <td style="width: 20%; vertical-align: bottom; font-family: 'Times New Roman';">
            <div>&#160;</div>
          </td>
          <td style="width: 10%; vertical-align: bottom; font-family: 'Times New Roman';">
            <div>&#160;</div>
          </td>
          <td style="width: 14%; vertical-align: bottom; font-family: 'Times New Roman';">
            <div>&#160;</div>
          </td>
          <td style="width: 56%; vertical-align: bottom;">
            <div><font style="font-family: 'Times New Roman';">Officer, certain funds in the Fund Complex (2016-</font><font style="font-family: 'Times New Roman';">&#160;</font></div>
          </td>
        </tr>
        <tr>
          <td style="width: 20%; vertical-align: bottom; font-family: 'Times New Roman';">
            <div>&#160;</div>
          </td>
          <td style="width: 10%; vertical-align: bottom; font-family: 'Times New Roman';">
            <div>&#160;</div>
          </td>
          <td style="width: 14%; vertical-align: bottom; font-family: 'Times New Roman';">
            <div>&#160;</div>
          </td>
          <td style="width: 56%; vertical-align: bottom;">
            <div><font style="font-family: 'Times New Roman';">present); Chief Compliance Officer &amp; Secretary,</font><font style="font-family: 'Times New Roman';">&#160;</font></div>
          </td>
        </tr>
        <tr>
          <td style="width: 20%; vertical-align: bottom; font-family: 'Times New Roman';">
            <div>&#160;</div>
          </td>
          <td style="width: 10%; vertical-align: bottom; font-family: 'Times New Roman';">
            <div>&#160;</div>
          </td>
          <td style="width: 14%; vertical-align: bottom; font-family: 'Times New Roman';">
            <div>&#160;</div>
          </td>
          <td style="width: 56%; vertical-align: bottom;">
            <div><font style="font-family: 'Times New Roman';">certain other funds in the Fund Complex (2008-</font><font style="font-family: 'Times New Roman';">&#160;</font></div>
          </td>
        </tr>
        <tr>
          <td style="width: 20%; vertical-align: bottom; font-family: 'Times New Roman';">
            <div>&#160;</div>
          </td>
          <td style="width: 10%; vertical-align: bottom; font-family: 'Times New Roman';">
            <div>&#160;</div>
          </td>
          <td style="width: 14%; vertical-align: bottom; font-family: 'Times New Roman';">
            <div>&#160;</div>
          </td>
          <td style="width: 56%; vertical-align: bottom;">
            <div><font style="font-family: 'Times New Roman';">2012); Senior Vice President &amp; Chief Compliance</font><font style="font-family: 'Times New Roman';">&#160;</font></div>
          </td>
        </tr>
        <tr>
          <td style="width: 20%; vertical-align: bottom; font-family: 'Times New Roman';">
            <div>&#160;</div>
          </td>
          <td style="width: 10%; vertical-align: bottom; font-family: 'Times New Roman';">
            <div>&#160;</div>
          </td>
          <td style="width: 14%; vertical-align: bottom; font-family: 'Times New Roman';">
            <div>&#160;</div>
          </td>
          <td style="width: 56%; vertical-align: bottom;">
            <div><font style="font-family: 'Times New Roman';">Officer, Security Investors, LLC and certain</font><font style="font-family: 'Times New Roman';">&#160;</font></div>
          </td>
        </tr>
        <tr>
          <td style="width: 20%; vertical-align: bottom; font-family: 'Times New Roman';">
            <div>&#160;</div>
          </td>
          <td style="width: 10%; vertical-align: bottom; font-family: 'Times New Roman';">
            <div>&#160;</div>
          </td>
          <td style="width: 14%; vertical-align: bottom; font-family: 'Times New Roman';">
            <div>&#160;</div>
          </td>
          <td style="width: 56%; vertical-align: bottom;">
            <div><font style="font-family: 'Times New Roman';">affiliates (2010-2012); Chief Compliance Officer</font><font style="font-family: 'Times New Roman';">&#160;</font></div>
          </td>
        </tr>
        <tr>
          <td style="width: 20%; vertical-align: bottom; font-family: 'Times New Roman';">
            <div>&#160;</div>
          </td>
          <td style="width: 10%; vertical-align: bottom; font-family: 'Times New Roman';">
            <div>&#160;</div>
          </td>
          <td style="width: 14%; vertical-align: bottom; font-family: 'Times New Roman';">
            <div>&#160;</div>
          </td>
          <td style="width: 56%; vertical-align: bottom;">
            <div><font style="font-family: 'Times New Roman';">and Senior Vice President, Rydex Advisors, LLC</font><font style="font-family: 'Times New Roman';">&#160;</font></div>
          </td>
        </tr>
        <tr>
          <td style="width: 20%; vertical-align: bottom; font-family: 'Times New Roman';">
            <div>&#160;</div>
          </td>
          <td style="width: 10%; vertical-align: bottom; font-family: 'Times New Roman';">
            <div>&#160;</div>
          </td>
          <td style="width: 14%; vertical-align: bottom; font-family: 'Times New Roman';">
            <div>&#160;</div>
          </td>
          <td style="width: 56%; vertical-align: bottom;">
            <div><font style="font-family: 'Times New Roman';">and certain affiliates (2010-2011).</font><font style="font-family: 'Times New Roman';">&#160;</font></div>
          </td>
        </tr>
        <tr>
          <td colspan="4" style="vertical-align: middle; font-family: 'Times New Roman';">
            <div>&#160;</div>
          </td>
        </tr>
        <tr>
          <td style="width: 20%; vertical-align: bottom;">
            <div><font style="font-family: 'Times New Roman';">John Sullivan</font><font style="font-family: 'Times New Roman';">&#160;</font></div>
          </td>
          <td style="width: 10%; vertical-align: bottom;">
            <div style="text-indent: 2pt;"><font style="font-family: 'Times New Roman';">Chief</font><font style="font-family: 'Times New Roman';">&#160;</font></div>
          </td>
          <td style="width: 14%; vertical-align: bottom;">
            <div style="text-indent: 8.1pt;"><font style="font-family: 'Times New Roman';">Since 2010</font><font style="font-family: 'Times New Roman';">&#160;</font></div>
          </td>
          <td style="width: 56%; vertical-align: bottom;">
            <div><font style="font-family: 'Times New Roman';">Current: Chief Financial Officer, Chief</font><font style="font-family: 'Times New Roman';">&#160;</font></div>
          </td>
        </tr>
        <tr>
          <td style="width: 20%; vertical-align: bottom;">
            <div><font style="font-family: 'Times New Roman';">Year of birth: 1955</font><font style="font-family: 'Times New Roman';">&#160;</font></div>
          </td>
          <td style="width: 10%; vertical-align: bottom;">
            <div style="text-indent: 2pt;"><font style="font-family: 'Times New Roman';">Financial</font><font style="font-family: 'Times New Roman';">&#160;</font></div>
          </td>
          <td style="width: 14%; vertical-align: bottom; font-family: 'Times New Roman';">
            <div>&#160;</div>
          </td>
          <td style="width: 56%; vertical-align: bottom;">
            <div><font style="font-family: 'Times New Roman';">Accounting Officer and Treasurer of certain funds</font><font style="font-family: 'Times New Roman';">&#160;</font></div>
          </td>
        </tr>
        <tr>
          <td style="width: 20%; vertical-align: bottom; font-family: 'Times New Roman';">
            <div>&#160;</div>
          </td>
          <td style="width: 10%; vertical-align: bottom;">
            <div style="text-indent: 2pt;"><font style="font-family: 'Times New Roman';">Officer,</font><font style="font-family: 'Times New Roman';">&#160;</font></div>
          </td>
          <td style="width: 14%; vertical-align: bottom; font-family: 'Times New Roman';">
            <div>&#160;</div>
          </td>
          <td style="width: 56%; vertical-align: bottom;">
            <div><font style="font-family: 'Times New Roman';">in the Fund Complex (2010-present); Senior</font><font style="font-family: 'Times New Roman';">&#160;</font></div>
          </td>
        </tr>
        <tr>
          <td style="width: 20%; vertical-align: bottom; font-family: 'Times New Roman';">
            <div>&#160;</div>
          </td>
          <td style="width: 10%; vertical-align: bottom;">
            <div style="text-indent: 2pt;"><font style="font-family: 'Times New Roman';">Chief</font><font style="font-family: 'Times New Roman';">&#160;</font></div>
          </td>
          <td style="width: 14%; vertical-align: bottom; font-family: 'Times New Roman';">
            <div>&#160;</div>
          </td>
          <td style="width: 56%; vertical-align: bottom;">
            <div><font style="font-family: 'Times New Roman';">Managing Director, Guggenheim Investments</font><font style="font-family: 'Times New Roman';">&#160;</font></div>
          </td>
        </tr>
        <tr>
          <td style="width: 20%; vertical-align: bottom; font-family: 'Times New Roman';">
            <div>&#160;</div>
          </td>
          <td colspan="2" style="vertical-align: bottom;">
            <div style="text-indent: 2pt;"><font style="font-family: 'Times New Roman';">Accounting</font><font style="font-family: 'Times New Roman';">&#160;</font></div>
          </td>
          <td style="width: 56%; vertical-align: bottom;">
            <div><font style="font-family: 'Times New Roman';">(2010-present).</font><font style="font-family: 'Times New Roman';">&#160;</font></div>
          </td>
        </tr>
        <tr>
          <td style="width: 20%; vertical-align: bottom; font-family: 'Times New Roman';">
            <div>&#160;</div>
          </td>
          <td colspan="2" style="vertical-align: bottom;">
            <div style="text-indent: 2pt;"><font style="font-family: 'Times New Roman';">Officer and</font><font style="font-family: 'Times New Roman';">&#160;</font></div>
          </td>
          <td style="width: 56%; vertical-align: bottom; font-family: 'Times New Roman';">
            <div>&#160;</div>
          </td>
        </tr>
        <tr>
          <td style="width: 20%; vertical-align: bottom; font-family: 'Times New Roman';">
            <div>&#160;</div>
          </td>
          <td style="width: 10%; vertical-align: bottom;">
            <div style="text-indent: 2pt;"><font style="font-family: 'Times New Roman';">Treasurer</font><font style="font-family: 'Times New Roman';">&#160;</font></div>
          </td>
          <td style="width: 14%; vertical-align: bottom; font-family: 'Times New Roman';">
            <div>&#160;</div>
          </td>
          <td style="width: 56%; vertical-align: bottom;">
            <div><font style="font-family: 'Times New Roman';">Former: Managing Director and Chief</font><font style="font-family: 'Times New Roman';">&#160;</font></div>
          </td>
        </tr>
        <tr>
          <td style="width: 20%; vertical-align: bottom; font-family: 'Times New Roman';">
            <div>&#160;</div>
          </td>
          <td style="width: 10%; vertical-align: bottom; font-family: 'Times New Roman';">
            <div>&#160;</div>
          </td>
          <td style="width: 14%; vertical-align: bottom; font-family: 'Times New Roman';">
            <div>&#160;</div>
          </td>
          <td style="width: 56%; vertical-align: bottom;">
            <div><font style="font-family: 'Times New Roman';">Compliance Officer, each of the funds in the Van</font><font style="font-family: 'Times New Roman';">&#160;</font></div>
          </td>
        </tr>
        <tr>
          <td style="width: 20%; vertical-align: bottom; font-family: 'Times New Roman';">
            <div>&#160;</div>
          </td>
          <td style="width: 10%; vertical-align: bottom; font-family: 'Times New Roman';">
            <div>&#160;</div>
          </td>
          <td style="width: 14%; vertical-align: bottom; font-family: 'Times New Roman';">
            <div>&#160;</div>
          </td>
          <td style="width: 56%; vertical-align: bottom;">
            <div><font style="font-family: 'Times New Roman';">Kampen Investments fund complex (2004-2010);</font><font style="font-family: 'Times New Roman';">&#160;</font></div>
          </td>
        </tr>
        <tr>
          <td style="width: 20%; vertical-align: bottom; font-family: 'Times New Roman';">
            <div>&#160;</div>
          </td>
          <td style="width: 10%; vertical-align: bottom; font-family: 'Times New Roman';">
            <div>&#160;</div>
          </td>
          <td style="width: 14%; vertical-align: bottom; font-family: 'Times New Roman';">
            <div>&#160;</div>
          </td>
          <td style="width: 56%; vertical-align: bottom;">
            <div><font style="font-family: 'Times New Roman';">Managing Director and Head of Fund Accounting</font><font style="font-family: 'Times New Roman';">&#160;</font></div>
          </td>
        </tr>
        <tr>
          <td style="width: 20%; vertical-align: bottom; font-family: 'Times New Roman';">
            <div>&#160;</div>
          </td>
          <td style="width: 10%; vertical-align: bottom; font-family: 'Times New Roman';">
            <div>&#160;</div>
          </td>
          <td style="width: 14%; vertical-align: bottom; font-family: 'Times New Roman';">
            <div>&#160;</div>
          </td>
          <td style="width: 56%; vertical-align: bottom;">
            <div><font style="font-family: 'Times New Roman';">and Administration, Morgan Stanley Investment</font><font style="font-family: 'Times New Roman';">&#160;</font></div>
          </td>
        </tr>
        <tr>
          <td style="width: 20%; vertical-align: bottom; font-family: 'Times New Roman';">
            <div>&#160;</div>
          </td>
          <td style="width: 10%; vertical-align: bottom; font-family: 'Times New Roman';">
            <div>&#160;</div>
          </td>
          <td style="width: 14%; vertical-align: bottom; font-family: 'Times New Roman';">
            <div>&#160;</div>
          </td>
          <td style="width: 56%; vertical-align: bottom;">
            <div><font style="font-family: 'Times New Roman';">Management (2002-2004); Chief Financial</font><font style="font-family: 'Times New Roman';">&#160;</font></div>
          </td>
        </tr>
        <tr>
          <td style="width: 20%; vertical-align: bottom; font-family: 'Times New Roman';">
            <div>&#160;</div>
          </td>
          <td style="width: 10%; vertical-align: bottom; font-family: 'Times New Roman';">
            <div>&#160;</div>
          </td>
          <td style="width: 14%; vertical-align: bottom; font-family: 'Times New Roman';">
            <div>&#160;</div>
          </td>
          <td style="width: 56%; vertical-align: bottom;">
            <div><font style="font-family: 'Times New Roman';">Officer and Treasurer, Van Kampen Funds (1996-</font><font style="font-family: 'Times New Roman';">&#160;</font></div>
          </td>
        </tr>
        <tr>
          <td style="width: 20%; vertical-align: bottom; font-family: 'Times New Roman';">
            <div>&#160;</div>
          </td>
          <td style="width: 10%; vertical-align: bottom; font-family: 'Times New Roman';">
            <div>&#160;</div>
          </td>
          <td style="width: 14%; vertical-align: bottom; font-family: 'Times New Roman';">
            <div>&#160;</div>
          </td>
          <td style="width: 56%; vertical-align: bottom;">
            <div><font style="font-family: 'Times New Roman';">2004).</font><font style="font-family: 'Times New Roman';">&#160;</font></div>
          </td>
        </tr>
        <tr>
          <td colspan="4" style="vertical-align: middle; font-family: 'Times New Roman';">
            <div>&#160;</div>
          </td>
        </tr>
        <tr>
          <td style="width: 20%; vertical-align: bottom;">
            <div><font style="font-family: 'Times New Roman';">Mark E. Mathiasen</font><font style="font-family: 'Times New Roman';">&#160;</font></div>
          </td>
          <td style="width: 10%; vertical-align: bottom;">
            <div style="text-indent: 2pt;"><font style="font-family: 'Times New Roman';">Secretary</font><font style="font-family: 'Times New Roman';">&#160;</font></div>
          </td>
          <td style="width: 14%; vertical-align: bottom;">
            <div style="text-indent: 8.1pt;"><font style="font-family: 'Times New Roman';">Since 2007</font><font style="font-family: 'Times New Roman';">&#160;</font></div>
          </td>
          <td style="width: 56%; vertical-align: bottom;">
            <div><font style="font-family: 'Times New Roman';">Current: Secretary, certain other funds in the Fund</font><font style="font-family: 'Times New Roman';">&#160;</font></div>
          </td>
        </tr>
        <tr>
          <td style="width: 20%; vertical-align: bottom;">
            <div><font style="font-family: 'Times New Roman';">Year of birth: 1978</font><font style="font-family: 'Times New Roman';">&#160;</font></div>
          </td>
          <td style="width: 10%; vertical-align: bottom; font-family: 'Times New Roman';">
            <div>&#160;</div>
          </td>
          <td style="width: 14%; vertical-align: bottom; font-family: 'Times New Roman';">
            <div>&#160;</div>
          </td>
          <td style="width: 56%; vertical-align: bottom;">
            <div><font style="font-family: 'Times New Roman';">Complex (2007-present); Managing Director,</font><font style="font-family: 'Times New Roman';">&#160;</font></div>
          </td>
        </tr>
        <tr>
          <td style="width: 20%; vertical-align: bottom; font-family: 'Times New Roman';">
            <div>&#160;</div>
          </td>
          <td style="width: 10%; vertical-align: bottom; font-family: 'Times New Roman';">
            <div>&#160;</div>
          </td>
          <td style="width: 14%; vertical-align: bottom; font-family: 'Times New Roman';">
            <div>&#160;</div>
          </td>
          <td style="width: 56%; vertical-align: bottom;">
            <div><font style="font-family: 'Times New Roman';">Guggenheim Investments (2007-present).</font><font style="font-family: 'Times New Roman';">&#160;</font></div>
          </td>
        </tr>
        <tr>
          <td colspan="4" style="vertical-align: middle; font-family: 'Times New Roman';">
            <div>&#160;</div>
          </td>
        </tr>
        <tr>
          <td style="width: 20%; vertical-align: bottom;">
            <div><font style="font-family: 'Times New Roman';">Michael P. Megaris</font><font style="font-family: 'Times New Roman';">&#160;</font></div>
          </td>
          <td style="width: 10%; vertical-align: bottom;">
            <div style="text-indent: 2pt;"><font style="font-family: 'Times New Roman';">Assistant</font><font style="font-family: 'Times New Roman';">&#160;</font></div>
          </td>
          <td style="width: 14%; vertical-align: bottom;">
            <div style="text-indent: 8.1pt;"><font style="font-family: 'Times New Roman';">Since 2014</font><font style="font-family: 'Times New Roman';">&#160;</font></div>
          </td>
          <td style="width: 56%; vertical-align: bottom;">
            <div><font style="font-family: 'Times New Roman';">Current: Assistant Secretary, certain other funds</font><font style="font-family: 'Times New Roman';">&#160;</font></div>
          </td>
        </tr>
        <tr>
          <td style="width: 20%; vertical-align: bottom;">
            <div><font style="font-family: 'Times New Roman';">Year of birth: 1984</font><font style="font-family: 'Times New Roman';">&#160;</font></div>
          </td>
          <td style="width: 10%; vertical-align: bottom;">
            <div style="text-indent: 2pt;"><font style="font-family: 'Times New Roman';">Secretary</font><font style="font-family: 'Times New Roman';">&#160;</font></div>
          </td>
          <td style="width: 14%; vertical-align: bottom; font-family: 'Times New Roman';">
            <div>&#160;</div>
          </td>
          <td style="width: 56%; vertical-align: bottom;">
            <div><font style="font-family: 'Times New Roman';">in the Fund Complex (2014-present); Director,</font><font style="font-family: 'Times New Roman';">&#160;</font></div>
          </td>
        </tr>
        <tr>
          <td style="width: 20%; vertical-align: bottom; font-family: 'Times New Roman';">
            <div>&#160;</div>
          </td>
          <td style="width: 10%; vertical-align: bottom; font-family: 'Times New Roman';">
            <div>&#160;</div>
          </td>
          <td style="width: 14%; vertical-align: bottom; font-family: 'Times New Roman';">
            <div>&#160;</div>
          </td>
          <td style="width: 56%; vertical-align: bottom;">
            <div><font style="font-family: 'Times New Roman';">Guggenheim Investments (2012-present).</font><font style="font-family: 'Times New Roman';">&#160;</font></div>
          </td>
        </tr>
        <tr>
          <td colspan="4" style="vertical-align: middle; font-family: 'Times New Roman';">
            <div>&#160;</div>
          </td>
        </tr>
        <tr>
          <td style="width: 20%; vertical-align: bottom;">
            <div><font style="font-family: 'Times New Roman';">James Howley</font><font style="font-family: 'Times New Roman';">&#160;</font></div>
          </td>
          <td style="width: 10%; vertical-align: bottom;">
            <div style="text-indent: 2pt;"><font style="font-family: 'Times New Roman';">Assistant</font><font style="font-family: 'Times New Roman';">&#160;</font></div>
          </td>
          <td style="width: 14%; vertical-align: bottom;">
            <div style="text-indent: 8.1pt;"><font style="font-family: 'Times New Roman';">Since 2007</font><font style="font-family: 'Times New Roman';">&#160;</font></div>
          </td>
          <td style="width: 56%; vertical-align: bottom;">
            <div><font style="font-family: 'Times New Roman';">Current: Managing Director, Guggenheim</font><font style="font-family: 'Times New Roman';">&#160;</font></div>
          </td>
        </tr>
        <tr>
          <td style="width: 20%; vertical-align: bottom;">
            <div><font style="font-family: 'Times New Roman';">Year of birth: 1972</font><font style="font-family: 'Times New Roman';">&#160;</font></div>
          </td>
          <td style="width: 10%; vertical-align: bottom;">
            <div style="text-indent: 2pt;"><font style="font-family: 'Times New Roman';">Treasurer</font><font style="font-family: 'Times New Roman';">&#160;</font></div>
          </td>
          <td style="width: 14%; vertical-align: bottom; font-family: 'Times New Roman';">
            <div>&#160;</div>
          </td>
          <td style="width: 56%; vertical-align: bottom;">
            <div><font style="font-family: 'Times New Roman';">Investments (2004-present); Assistant Treasurer,</font><font style="font-family: 'Times New Roman';">&#160;</font></div>
          </td>
        </tr>
        <tr>
          <td style="width: 20%; vertical-align: bottom; font-family: 'Times New Roman';">
            <div>&#160;</div>
          </td>
          <td style="width: 10%; vertical-align: bottom; font-family: 'Times New Roman';">
            <div>&#160;</div>
          </td>
          <td style="width: 14%; vertical-align: bottom; font-family: 'Times New Roman';">
            <div>&#160;</div>
          </td>
          <td style="width: 56%; vertical-align: bottom;">
            <div><font style="font-family: 'Times New Roman';">certain other funds in the Fund Complex (2006-</font><font style="font-family: 'Times New Roman';">&#160;</font></div>
          </td>
        </tr>
        <tr>
          <td style="width: 20%; vertical-align: bottom; font-family: 'Times New Roman';">
            <div>&#160;</div>
          </td>
          <td style="width: 10%; vertical-align: bottom; font-family: 'Times New Roman';">
            <div>&#160;</div>
          </td>
          <td style="width: 14%; vertical-align: bottom; font-family: 'Times New Roman';">
            <div>&#160;</div>
          </td>
          <td style="width: 56%; vertical-align: bottom;">
            <div><font style="font-family: 'Times New Roman';">present).</font><font style="font-family: 'Times New Roman';">&#160;</font></div>
          </td>
        </tr>
        <tr>
          <td colspan="4" style="vertical-align: middle; font-family: 'Times New Roman';">
            <div>&#160;</div>
          </td>
        </tr>
        <tr>
          <td style="width: 20%; vertical-align: bottom; font-family: 'Times New Roman';">
            <div>&#160;</div>
          </td>
          <td style="width: 10%; vertical-align: bottom; font-family: 'Times New Roman';">
            <div>&#160;</div>
          </td>
          <td style="width: 14%; vertical-align: bottom; font-family: 'Times New Roman';">
            <div>&#160;</div>
          </td>
          <td style="width: 56%; vertical-align: bottom;">
            <div><font style="font-family: 'Times New Roman';">Former: Manager, Mutual Fund Administration of</font><font style="font-family: 'Times New Roman';">&#160;</font></div>
          </td>
        </tr>
        <tr>
          <td style="width: 20%; vertical-align: bottom; font-family: 'Times New Roman';">
            <div>&#160;</div>
          </td>
          <td style="width: 10%; vertical-align: bottom; font-family: 'Times New Roman';">
            <div>&#160;</div>
          </td>
          <td style="width: 14%; vertical-align: bottom; font-family: 'Times New Roman';">
            <div>&#160;</div>
          </td>
          <td style="width: 56%; vertical-align: bottom;">
            <div><font style="font-family: 'Times New Roman';">Van Kampen Investments, Inc. (1996-2004).</font><font style="font-family: 'Times New Roman';">&#160;</font></div>
          </td>
        </tr>
        <tr>
          <td colspan="4" style="vertical-align: middle; font-family: 'Times New Roman';">
            <div>&#160;</div>
          </td>
        </tr>
        <tr>
          <td style="width: 20%; vertical-align: bottom;">
            <div><font style="font-family: 'Times New Roman';">Kimberly Scott</font><font style="font-family: 'Times New Roman';">&#160;</font></div>
          </td>
          <td style="width: 10%; vertical-align: bottom;">
            <div style="text-indent: 2pt;"><font style="font-family: 'Times New Roman';">Assistant</font><font style="font-family: 'Times New Roman';">&#160;</font></div>
          </td>
          <td style="width: 14%; vertical-align: bottom;">
            <div style="text-indent: 8.1pt;"><font style="font-family: 'Times New Roman';">Since 2012</font><font style="font-family: 'Times New Roman';">&#160;</font></div>
          </td>
          <td style="width: 56%; vertical-align: bottom;">
            <div><font style="font-family: 'Times New Roman';">Current: Director, Guggenheim Investments</font><font style="font-family: 'Times New Roman';">&#160;</font></div>
          </td>
        </tr>
        <tr>
          <td style="width: 20%; vertical-align: bottom;">
            <div><font style="font-family: 'Times New Roman';">Year of Birth: 1974</font><font style="font-family: 'Times New Roman';">&#160;</font></div>
          </td>
          <td style="width: 10%; vertical-align: bottom;">
            <div style="text-indent: 2pt;"><font style="font-family: 'Times New Roman';">Treasurer</font><font style="font-family: 'Times New Roman';">&#160;</font></div>
          </td>
          <td style="width: 14%; vertical-align: bottom; font-family: 'Times New Roman';">
            <div>&#160;</div>
          </td>
          <td style="width: 56%; vertical-align: bottom;">
            <div><font style="font-family: 'Times New Roman';">(2012-present); Assistant Treasurer, certain other</font><font style="font-family: 'Times New Roman';">&#160;</font></div>
          </td>
        </tr>
        <tr>
          <td style="width: 20%; vertical-align: bottom; font-family: 'Times New Roman';">
            <div>&#160;</div>
          </td>
          <td style="width: 10%; vertical-align: bottom; font-family: 'Times New Roman';">
            <div>&#160;</div>
          </td>
          <td style="width: 14%; vertical-align: bottom; font-family: 'Times New Roman';">
            <div>&#160;</div>
          </td>
          <td style="width: 56%; vertical-align: bottom;">
            <div><font style="font-family: 'Times New Roman';">funds in the Fund Complex (2012-present).</font><font style="font-family: 'Times New Roman';">&#160;</font></div>
          </td>
        </tr>
        <tr>
          <td colspan="4" style="vertical-align: middle; font-family: 'Times New Roman';">
            <div>&#160;</div>
          </td>
        </tr>
        <tr>
          <td style="width: 20%; vertical-align: bottom; font-family: 'Times New Roman';">
            <div>&#160;</div>
          </td>
          <td style="width: 10%; vertical-align: bottom; font-family: 'Times New Roman';">
            <div>&#160;</div>
          </td>
          <td style="width: 14%; vertical-align: bottom; font-family: 'Times New Roman';">
            <div>&#160;</div>
          </td>
          <td style="width: 56%; vertical-align: bottom;">
            <div><font style="font-family: 'Times New Roman';">Former: Financial Reporting Manager for</font><font style="font-family: 'Times New Roman';">&#160;</font></div>
          </td>
        </tr>
        <tr>
          <td style="width: 20%; vertical-align: bottom; font-family: 'Times New Roman';">
            <div>&#160;</div>
          </td>
          <td style="width: 10%; vertical-align: bottom; font-family: 'Times New Roman';">
            <div>&#160;</div>
          </td>
          <td style="width: 14%; vertical-align: bottom; font-family: 'Times New Roman';">
            <div>&#160;</div>
          </td>
          <td style="width: 56%; vertical-align: bottom;">
            <div><font style="font-family: 'Times New Roman';">Invesco, Ltd. (2010-2011); Vice</font><font style="font-family: 'Times New Roman';">&#160;</font></div>
          </td>
        </tr>
        <tr>
          <td style="width: 20%; vertical-align: bottom; font-family: 'Times New Roman';">
            <div>&#160;</div>
          </td>
          <td style="width: 10%; vertical-align: bottom; font-family: 'Times New Roman';">
            <div>&#160;</div>
          </td>
          <td style="width: 14%; vertical-align: bottom; font-family: 'Times New Roman';">
            <div>&#160;</div>
          </td>
          <td style="width: 56%; vertical-align: bottom;">
            <div><font style="font-family: 'Times New Roman';">President/Assistant Treasurer, Mutual Fund</font><font style="font-family: 'Times New Roman';">&#160;</font></div>
          </td>
        </tr>
        <tr>
          <td style="width: 20%; vertical-align: bottom; font-family: 'Times New Roman';">
            <div>&#160;</div>
          </td>
          <td style="width: 10%; vertical-align: bottom; font-family: 'Times New Roman';">
            <div>&#160;</div>
          </td>
          <td style="width: 14%; vertical-align: bottom; font-family: 'Times New Roman';">
            <div>&#160;</div>
          </td>
          <td style="width: 56%; vertical-align: bottom;">
            <div><font style="font-family: 'Times New Roman';">Administration for Van Kampen Investments,</font><font style="font-family: 'Times New Roman';">&#160;</font></div>
          </td>
        </tr>
        <tr>
          <td style="width: 20%; vertical-align: bottom; font-family: 'Times New Roman';">
            <div>&#160;</div>
          </td>
          <td style="width: 10%; vertical-align: bottom; font-family: 'Times New Roman';">
            <div>&#160;</div>
          </td>
          <td style="width: 14%; vertical-align: bottom; font-family: 'Times New Roman';">
            <div>&#160;</div>
          </td>
          <td style="width: 56%; vertical-align: bottom;">
            <div><font style="font-family: 'Times New Roman';">Inc./Morgan Stanley Investment Management</font><font style="font-family: 'Times New Roman';">&#160;</font></div>
          </td>
        </tr>
        <tr>
          <td style="width: 20%; vertical-align: bottom; font-family: 'Times New Roman';">
            <div>&#160;</div>
          </td>
          <td style="width: 10%; vertical-align: bottom; font-family: 'Times New Roman';">
            <div>&#160;</div>
          </td>
          <td style="width: 14%; vertical-align: bottom; font-family: 'Times New Roman';">
            <div>&#160;</div>
          </td>
          <td style="width: 56%; vertical-align: bottom;">
            <div><font style="font-family: 'Times New Roman';">(2009-2010); Manager- Mutual Fund</font><font style="font-family: 'Times New Roman';">&#160;</font></div>
          </td>
        </tr>
        <tr>
          <td style="width: 20%; vertical-align: bottom; font-family: 'Times New Roman';">
            <div>&#160;</div>
          </td>
          <td style="width: 10%; vertical-align: bottom; font-family: 'Times New Roman';">
            <div>&#160;</div>
          </td>
          <td style="width: 14%; vertical-align: bottom; font-family: 'Times New Roman';">
            <div>&#160;</div>
          </td>
          <td style="width: 56%; vertical-align: bottom;">
            <div><font style="font-family: 'Times New Roman';">Administration for Van Kampen Investments,</font><font style="font-family: 'Times New Roman';">&#160;</font></div>
          </td>
        </tr>
        <tr>
          <td style="width: 20%; vertical-align: bottom; font-family: 'Times New Roman';">
            <div>&#160;</div>
          </td>
          <td style="width: 10%; vertical-align: bottom; font-family: 'Times New Roman';">
            <div>&#160;</div>
          </td>
          <td style="width: 14%; vertical-align: bottom; font-family: 'Times New Roman';">
            <div>&#160;</div>
          </td>
          <td style="width: 56%; vertical-align: bottom;">
            <div><font style="font-family: 'Times New Roman';">Inc./Morgan Stanley Investment Management</font><font style="font-family: 'Times New Roman';">&#160;</font></div>
          </td>
        </tr>
        <tr>
          <td style="width: 20%; vertical-align: bottom; font-family: 'Times New Roman';">
            <div>&#160;</div>
          </td>
          <td style="width: 10%; vertical-align: bottom; font-family: 'Times New Roman';">
            <div>&#160;</div>
          </td>
          <td style="width: 14%; vertical-align: bottom; font-family: 'Times New Roman';">
            <div>&#160;</div>
          </td>
          <td style="width: 56%; vertical-align: bottom;">
            <div><font style="font-family: 'Times New Roman';">(2005-2009).</font><font style="font-family: 'Times New Roman';">&#160;</font></div>
          </td>
        </tr>

    </table>
    <div style="margin-bottom: 6pt;">&#160;</div>
    <div style="text-align: center; margin-bottom: 6pt;">14</div>
    <div id="DSPFPageBreakArea" style="clear: both; margin-top: 10pt; margin-bottom: 10pt;">
      <div id="DSPFPageBreak" style="page-break-after: always;">
        <hr noshade="noshade" style="border-width: 0px; clear: both; margin: 4px 0px; width: 100%; height: 2px; color: #000000; background-color: #000000;"></div>
    </div>
    <div><br>
    </div>
    <div><br>
    </div>
    <br>
    <table cellspacing="0" cellpadding="0" style="font-family: Arial; font-size: 10pt; width: 100%; border-collapse: collapse; text-align: left; color: #000000;" id="z4e2d35314ef648d0a310a337ad2c60ec">

        <tr>
          <td style="width: 20%; vertical-align: middle; font-family: 'Times New Roman';">&#160;</td>
          <td style="width: 10%; vertical-align: middle; font-family: 'Times New Roman';">&#160;</td>
          <td style="width: 14%; vertical-align: middle; font-family: 'Times New Roman';">&#160;</td>
          <td style="width: 56%; vertical-align: middle; font-family: 'Times New Roman';">&#160;</td>
        </tr>
        <tr>
          <td style="width: 20%; vertical-align: bottom; font-family: 'Times New Roman';">
            <div>&#160;</div>
          </td>
          <td style="width: 10%; vertical-align: bottom; font-family: 'Times New Roman';">
            <div>&#160;</div>
          </td>
          <td style="width: 14%; vertical-align: bottom;">
            <div style="text-align: center;"><font style="font-family: 'Times New Roman'; font-weight: bold;">Term of</font><font style="font-family: 'Times New Roman';">&#160;</font></div>
          </td>
          <td style="width: 56%; vertical-align: bottom; font-family: 'Times New Roman';">
            <div>&#160;</div>
          </td>
        </tr>
        <tr>
          <td style="width: 20%; vertical-align: bottom; font-family: 'Times New Roman';">
            <div>&#160;</div>
          </td>
          <td style="vertical-align: bottom; width: 10%;">
            <div style="text-align: center;"><br>
            </div>
          </td>
          <td style="vertical-align: bottom; width: 14%;">
            <div style="text-align: center;"><font style="font-family: 'Times New Roman'; font-weight: bold;">Office and</font><font style="font-family: 'Times New Roman';"> <br>
              </font></div>
          </td>
          <td style="width: 56%; vertical-align: bottom; font-family: 'Times New Roman';">
            <div>&#160;</div>
          </td>
        </tr>
        <tr>
          <td style="width: 20%; vertical-align: bottom;">
            <div><font style="font-family: 'Times New Roman'; font-weight: bold;">Name,</font><font style="font-family: 'Times New Roman';">&#160;</font></div>
          </td>
          <td style="width: 10%; vertical-align: bottom; font-family: 'Times New Roman';">
            <div>&#160;</div>
          </td>
          <td style="width: 14%; vertical-align: bottom;">
            <div style="text-align: center;"><font style="font-family: 'Times New Roman'; font-weight: bold;">Length</font><font style="font-family: 'Times New Roman';">&#160;</font></div>
          </td>
          <td style="width: 56%; vertical-align: bottom; font-family: 'Times New Roman';">
            <div>&#160;</div>
          </td>
        </tr>
        <tr>
          <td style="width: 20%; vertical-align: bottom;">
            <div><font style="font-family: 'Times New Roman'; font-weight: bold;">Address</font><font style="font-family: 'Times New Roman';"><sup style="font-weight: bold; vertical-align: text-top; line-height: 1; font-size: smaller;">(1)</sup>&#160;</font></div>
          </td>
          <td style="width: 10%; vertical-align: bottom; font-family: 'Times New Roman';">
            <div>&#160;</div>
          </td>
          <td style="width: 14%; vertical-align: bottom;">
            <div style="text-align: center;"><font style="font-family: 'Times New Roman'; font-weight: bold;">of Time</font><font style="font-family: 'Times New Roman';">&#160;</font></div>
          </td>
          <td style="width: 56%; vertical-align: bottom;">
            <div style="text-align: center;"><font style="font-family: 'Times New Roman'; font-weight: bold;">Principal Occupation</font><font style="font-family: 'Times New Roman';">&#160;</font></div>
          </td>
        </tr>
        <tr>
          <td style="width: 20%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0);">
            <div><font style="font-family: 'Times New Roman'; font-weight: bold;">and Age</font><font style="font-family: 'Times New Roman';">&#160;</font></div>
          </td>
          <td style="width: 10%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0);">
            <div><font style="font-family: 'Times New Roman'; font-weight: bold;">Title</font><font style="font-family: 'Times New Roman';">&#160;</font></div>
          </td>
          <td style="width: 14%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0);">
            <div style="text-align: center;"><font style="font-family: 'Times New Roman'; font-weight: bold;">Served</font><font style="font-family: 'Times New Roman';"><sup style="font-weight: bold; vertical-align: text-top; line-height: 1; font-size: smaller;">(2)</sup>&#160;</font></div>
          </td>
          <td style="width: 56%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0);">
            <div style="text-align: center;"><font style="font-family: 'Times New Roman'; font-weight: bold;">During the Past Five Years</font><font style="font-family: 'Times New Roman';">&#160;</font></div>
          </td>
        </tr>
        <tr>
          <td colspan="4" style="vertical-align: middle; font-family: 'Times New Roman';">
            <div>&#160;</div>
          </td>
        </tr>
        <tr>
          <td style="width: 20%; vertical-align: bottom;">
            <div><font style="font-family: 'Times New Roman';">William Rehder</font><font style="font-family: 'Times New Roman';">&#160;</font></div>
          </td>
          <td style="width: 10%; vertical-align: bottom;">
            <div style="text-indent: 2pt;"><font style="font-family: 'Times New Roman';">Assistant</font><font style="font-family: 'Times New Roman';">&#160;</font></div>
          </td>
          <td style="width: 14%; vertical-align: bottom;">
            <div style="text-indent: 8.1pt;"><font style="font-family: 'Times New Roman';">Since 2019</font><font style="font-family: 'Times New Roman';"> <br>
              </font></div>
          </td>
          <td style="width: 56%; vertical-align: bottom;">
            <div><font style="font-family: 'Times New Roman';">Current: Managing Director, Guggenheim</font><font style="font-family: 'Times New Roman';">&#160;</font></div>
          </td>
        </tr>
        <tr>
          <td style="width: 20%; vertical-align: bottom;">
            <div><font style="font-family: 'Times New Roman';">Year of Birth: 1967</font><font style="font-family: 'Times New Roman';">&#160;</font></div>
          </td>
          <td style="width: 10%; vertical-align: bottom;">
            <div style="text-indent: 2pt;"><font style="font-family: 'Times New Roman';">Vice</font><font style="font-family: 'Times New Roman';">&#160;</font></div>
          </td>
          <td style="width: 14%; vertical-align: bottom; font-family: 'Times New Roman';">
            <div>&#160;</div>
          </td>
          <td style="width: 56%; vertical-align: bottom;">
            <div><font style="font-family: 'Times New Roman';">Investments (2002-present).</font><font style="font-family: 'Times New Roman';">&#160;</font></div>
          </td>
        </tr>
        <tr>
          <td style="width: 20%; vertical-align: bottom; font-family: 'Times New Roman';">
            <div>&#160;</div>
          </td>
          <td style="width: 10%; vertical-align: bottom;">
            <div style="text-indent: 2pt;"><font style="font-family: 'Times New Roman';">President</font><font style="font-family: 'Times New Roman';">&#160;</font></div>
          </td>
          <td style="width: 14%; vertical-align: bottom; font-family: 'Times New Roman';">
            <div>&#160;</div>
          </td>
          <td style="width: 56%; vertical-align: bottom; font-family: 'Times New Roman';">
            <div>&#160;</div>
          </td>
        </tr>
        <tr>
          <td colspan="4" style="vertical-align: middle; font-family: 'Times New Roman';">
            <div>&#160;</div>
          </td>
        </tr>
        <tr>
          <td style="width: 20%; vertical-align: bottom;">
            <div><font style="font-family: 'Times New Roman';">Glenn McWhinnie</font><font style="font-family: 'Times New Roman';">&#160;</font></div>
          </td>
          <td style="width: 10%; vertical-align: bottom;">
            <div style="text-indent: 2pt;"><font style="font-family: 'Times New Roman';">Assistant</font><font style="font-family: 'Times New Roman';">&#160;</font></div>
          </td>
          <td style="width: 14%; vertical-align: bottom;">
            <div style="text-indent: 8.1pt;"><font style="font-family: 'Times New Roman';">Since 2016</font><font style="font-family: 'Times New Roman';">&#160;</font></div>
          </td>
          <td style="width: 56%; vertical-align: bottom;">
            <div><font style="font-family: 'Times New Roman';">Current: Vice President, Guggenheim Investments</font><font style="font-family: 'Times New Roman';">&#160;</font></div>
          </td>
        </tr>
        <tr>
          <td style="width: 20%; vertical-align: bottom;">
            <div><font style="font-family: 'Times New Roman';">Year of birth: 1969</font><font style="font-family: 'Times New Roman';">&#160;</font></div>
          </td>
          <td style="width: 10%; vertical-align: bottom;">
            <div style="text-indent: 2pt;"><font style="font-family: 'Times New Roman';">Treasurer</font><font style="font-family: 'Times New Roman';">&#160;</font></div>
          </td>
          <td style="width: 14%; vertical-align: bottom; font-family: 'Times New Roman';">
            <div>&#160;</div>
          </td>
          <td style="width: 56%; vertical-align: bottom;">
            <div><font style="font-family: 'Times New Roman';">(2009-present); Assistant Treasurer, certain other</font><font style="font-family: 'Times New Roman';">&#160;</font></div>
          </td>
        </tr>
        <tr>
          <td style="width: 20%; vertical-align: bottom; font-family: 'Times New Roman';">
            <div>&#160;</div>
          </td>
          <td style="width: 10%; vertical-align: bottom; font-family: 'Times New Roman';">
            <div>&#160;</div>
          </td>
          <td style="width: 14%; vertical-align: bottom; font-family: 'Times New Roman';">
            <div>&#160;</div>
          </td>
          <td style="width: 56%; vertical-align: bottom;">
            <div><font style="font-family: 'Times New Roman';">funds in the Fund Complex (2016-present).</font><font style="font-family: 'Times New Roman';">&#160;</font></div>
          </td>
        </tr>
        <tr>
          <td colspan="4" style="vertical-align: middle; font-family: 'Times New Roman';">
            <div>&#160;</div>
          </td>
        </tr>
        <tr>
          <td style="width: 20%; vertical-align: bottom; font-family: 'Times New Roman';">
            <div>&#160;</div>
          </td>
          <td style="width: 10%; vertical-align: bottom; font-family: 'Times New Roman';">
            <div>&#160;</div>
          </td>
          <td style="width: 14%; vertical-align: bottom; font-family: 'Times New Roman';">
            <div>&#160;</div>
          </td>
          <td style="width: 56%; vertical-align: bottom;">
            <div><font style="font-family: 'Times New Roman';">Former: Tax Compliance Manager, Ernst &amp;</font><font style="font-family: 'Times New Roman';">&#160;</font></div>
          </td>
        </tr>
        <tr>
          <td style="width: 20%; vertical-align: bottom; font-family: 'Times New Roman';">
            <div>&#160;</div>
          </td>
          <td style="width: 10%; vertical-align: bottom; font-family: 'Times New Roman';">
            <div>&#160;</div>
          </td>
          <td style="width: 14%; vertical-align: bottom; font-family: 'Times New Roman';">
            <div>&#160;</div>
          </td>
          <td style="width: 56%; vertical-align: bottom;">
            <div><font style="font-family: 'Times New Roman';">Young LLP (1996-2009).</font><font style="font-family: 'Times New Roman';">&#160;</font></div>
          </td>
        </tr>
        <tr>
          <td colspan="4" style="vertical-align: middle; font-family: 'Times New Roman';">
            <div>&#160;</div>
          </td>
        </tr>
        <tr>
          <td style="width: 20%; vertical-align: bottom;">
            <div><font style="font-family: 'Times New Roman';">Jon Szafran</font><font style="font-family: 'Times New Roman';">&#160;</font></div>
          </td>
          <td style="width: 10%; vertical-align: bottom;">
            <div style="text-indent: 2pt;"><font style="font-family: 'Times New Roman';">Assistant</font><font style="font-family: 'Times New Roman';">&#160;</font></div>
          </td>
          <td style="width: 14%; vertical-align: bottom;">
            <div style="text-indent: 8.1pt;"><font style="font-family: 'Times New Roman';">Since 2017</font><font style="font-family: 'Times New Roman';">&#160;</font></div>
          </td>
          <td style="width: 56%; vertical-align: bottom;">
            <div><font style="font-family: 'Times New Roman';">Current: Vice President, Guggenheim Investments</font><font style="font-family: 'Times New Roman';">&#160;</font></div>
          </td>
        </tr>
        <tr>
          <td style="width: 20%; vertical-align: bottom;">
            <div><font style="font-family: 'Times New Roman';">Year of birth: 1989</font><font style="font-family: 'Times New Roman';">&#160;</font></div>
          </td>
          <td style="width: 10%; vertical-align: bottom;">
            <div style="text-indent: 2pt;"><font style="font-family: 'Times New Roman';">Treasurer</font><font style="font-family: 'Times New Roman';">&#160;</font></div>
          </td>
          <td style="width: 14%; vertical-align: bottom; font-family: 'Times New Roman';">
            <div>&#160;</div>
          </td>
          <td style="width: 56%; vertical-align: bottom;">
            <div><font style="font-family: 'Times New Roman';">(2017-present); Assistant Treasurer, certain other</font><font style="font-family: 'Times New Roman';">&#160;</font></div>
          </td>
        </tr>
        <tr>
          <td style="width: 20%; vertical-align: bottom; font-family: 'Times New Roman';">
            <div>&#160;</div>
          </td>
          <td style="width: 10%; vertical-align: bottom; font-family: 'Times New Roman';">
            <div>&#160;</div>
          </td>
          <td style="width: 14%; vertical-align: bottom; font-family: 'Times New Roman';">
            <div>&#160;</div>
          </td>
          <td style="width: 56%; vertical-align: bottom;">
            <div><font style="font-family: 'Times New Roman';">funds in the Fund Complex (2017-present).</font><font style="font-family: 'Times New Roman';">&#160;</font></div>
          </td>
        </tr>
        <tr>
          <td colspan="4" style="vertical-align: middle; font-family: 'Times New Roman';">
            <div>&#160;</div>
          </td>
        </tr>
        <tr>
          <td style="width: 20%; vertical-align: bottom; font-family: 'Times New Roman';">
            <div>&#160;</div>
          </td>
          <td style="width: 10%; vertical-align: bottom; font-family: 'Times New Roman';">
            <div>&#160;</div>
          </td>
          <td style="width: 14%; vertical-align: bottom; font-family: 'Times New Roman';">
            <div>&#160;</div>
          </td>
          <td style="width: 56%; vertical-align: bottom;">
            <div><font style="font-family: 'Times New Roman';">Former: Assistant Treasurer of Henderson Global</font><font style="font-family: 'Times New Roman';">&#160;</font></div>
          </td>
        </tr>
        <tr>
          <td style="width: 20%; vertical-align: bottom; font-family: 'Times New Roman';">
            <div>&#160;</div>
          </td>
          <td style="width: 10%; vertical-align: bottom; font-family: 'Times New Roman';">
            <div>&#160;</div>
          </td>
          <td style="width: 14%; vertical-align: bottom; font-family: 'Times New Roman';">
            <div>&#160;</div>
          </td>
          <td style="width: 56%; vertical-align: bottom;">
            <div><font style="font-family: 'Times New Roman';">Funds and Manager of US Fund Administration,</font><font style="font-family: 'Times New Roman';">&#160;</font></div>
          </td>
        </tr>
        <tr>
          <td style="width: 20%; vertical-align: bottom; font-family: 'Times New Roman';">
            <div>&#160;</div>
          </td>
          <td style="width: 10%; vertical-align: bottom; font-family: 'Times New Roman';">
            <div>&#160;</div>
          </td>
          <td style="width: 14%; vertical-align: bottom; font-family: 'Times New Roman';">
            <div>&#160;</div>
          </td>
          <td style="width: 56%; vertical-align: bottom;">
            <div><font style="font-family: 'Times New Roman';">Henderson Global Investors (North America) Inc.</font><font style="font-family: 'Times New Roman';">&#160;</font></div>
          </td>
        </tr>
        <tr>
          <td style="width: 20%; vertical-align: bottom; font-family: 'Times New Roman';">
            <div>&#160;</div>
          </td>
          <td style="width: 10%; vertical-align: bottom; font-family: 'Times New Roman';">
            <div>&#160;</div>
          </td>
          <td style="width: 14%; vertical-align: bottom; font-family: 'Times New Roman';">
            <div>&#160;</div>
          </td>
          <td style="width: 56%; vertical-align: bottom;">
            <div><font style="font-family: 'Times New Roman';">(&#8220;HGINA&#8221;) (2017); Senior Analyst of US Fund</font><font style="font-family: 'Times New Roman';">&#160;</font></div>
          </td>
        </tr>
        <tr>
          <td style="width: 20%; vertical-align: bottom; font-family: 'Times New Roman';">
            <div>&#160;</div>
          </td>
          <td style="width: 10%; vertical-align: bottom; font-family: 'Times New Roman';">
            <div>&#160;</div>
          </td>
          <td style="width: 14%; vertical-align: bottom; font-family: 'Times New Roman';">
            <div>&#160;</div>
          </td>
          <td style="width: 56%; vertical-align: bottom;">
            <div><font style="font-family: 'Times New Roman';">Administration, HGINA (2014-2017); Senior</font><font style="font-family: 'Times New Roman';">&#160;</font></div>
          </td>
        </tr>
        <tr>
          <td style="width: 20%; vertical-align: bottom; font-family: 'Times New Roman';">
            <div>&#160;</div>
          </td>
          <td style="width: 10%; vertical-align: bottom; font-family: 'Times New Roman';">
            <div>&#160;</div>
          </td>
          <td style="width: 14%; vertical-align: bottom; font-family: 'Times New Roman';">
            <div>&#160;</div>
          </td>
          <td style="width: 56%; vertical-align: bottom;">
            <div><font style="font-family: 'Times New Roman';">Associate of Fund Administration, Cortland</font><font style="font-family: 'Times New Roman';">&#160;</font></div>
          </td>
        </tr>
        <tr>
          <td style="width: 20%; vertical-align: bottom; font-family: 'Times New Roman';">
            <div>&#160;</div>
          </td>
          <td style="width: 10%; vertical-align: bottom; font-family: 'Times New Roman';">
            <div>&#160;</div>
          </td>
          <td style="width: 14%; vertical-align: bottom; font-family: 'Times New Roman';">
            <div>&#160;</div>
          </td>
          <td style="width: 56%; vertical-align: bottom;">
            <div><font style="font-family: 'Times New Roman';">Capital Market Services, LLC (2013-2014);</font><font style="font-family: 'Times New Roman';">&#160;</font></div>
          </td>
        </tr>
        <tr>
          <td style="width: 20%; vertical-align: bottom; font-family: 'Times New Roman';">
            <div>&#160;</div>
          </td>
          <td style="width: 10%; vertical-align: bottom; font-family: 'Times New Roman';">
            <div>&#160;</div>
          </td>
          <td style="width: 14%; vertical-align: bottom; font-family: 'Times New Roman';">
            <div>&#160;</div>
          </td>
          <td style="width: 56%; vertical-align: bottom;">
            <div><font style="font-family: 'Times New Roman';">Experienced Associate, PricewaterhouseCoopers</font><font style="font-family: 'Times New Roman';">&#160;</font></div>
          </td>
        </tr>
        <tr>
          <td style="width: 20%; vertical-align: bottom; font-family: 'Times New Roman';">
            <div>&#160;</div>
          </td>
          <td style="width: 10%; vertical-align: bottom; font-family: 'Times New Roman';">
            <div>&#160;</div>
          </td>
          <td style="width: 14%; vertical-align: bottom; font-family: 'Times New Roman';">
            <div>&#160;</div>
          </td>
          <td style="width: 56%; vertical-align: bottom;">
            <div><font style="font-family: 'Times New Roman';">LLP (2012-2013).</font><font style="font-family: 'Times New Roman';">&#160;</font></div>
          </td>
        </tr>

    </table>
    <div style="margin-bottom: 6pt;">&#160;
      <hr align="left" style="height: 2px; width: 10%; color: #000000; background-color: #000000; margin-left: 0px; margin-right: auto; border: none;"></div>
    <table cellspacing="0" cellpadding="0" style="font-family: Arial; font-size: 10pt; width: 100%; border-collapse: collapse; text-align: left; color: #000000;" id="z309a7a56eaf14d91bde3282d7f537631">

        <tr>
          <td style="width: 2.83%; vertical-align: top; font-family: 'Times New Roman';">
            <div><sup style="vertical-align: text-top; line-height: 1; font-size: smaller;">(1)</sup>&#160;</div>
          </td>
          <td colspan="1" style="width: 97.17%; vertical-align: bottom;">
            <div><font style="font-family: 'Times New Roman';">The business address of each officer of the Funds is Guggenheim Investments, 227 West Monroe</font><font style="font-family: 'Times New Roman';"> </font><font style="font-family: 'Times New Roman';">Street, 7th Floor, Chicago, Illinois 60606, unless otherwise noted.</font><font style="font-family: 'Times New Roman';">&#160;</font></div>
          </td>
        </tr>
        <tr>
          <td style="width: 2.83%; vertical-align: top; font-family: 'Times New Roman';">
            <div><sup style="vertical-align: text-top; line-height: 1; font-size: smaller;">(2)&#160;</sup></div>
          </td>
          <td colspan="1" style="width: 97.17%; vertical-align: bottom;">
            <div><font style="font-family: 'Times New Roman';">Officers serve at the pleasure of the Board and until his or her successor is appointed and qualified or</font><font style="font-family: 'Times New Roman';"> </font><font style="font-family: 'Times New Roman';">until his or her resignation or removal. The year set forth above is the earliest year in which the officer</font><font style="font-family: 'Times New Roman';"> </font><font style="font-family: 'Times New Roman';">was
                appointed as an officer of any Fund.</font><font style="font-family: 'Times New Roman';">&#160;</font></div>
          </td>
        </tr>

    </table>
    <div style="margin-bottom: 6pt;">&#160;</div>
    <div style="margin-bottom: 6pt; font-weight: bold;">Board Leadership Structure</div>
    <div style="margin-bottom: 6pt;">&#160;&#160;&#160;&#160;&#160;The primary responsibility of the Board is to represent the interests of the Funds and to provide oversight of the management of the Funds. The Funds&#8217; day-to-day operations are managed by the Adviser, the
      applicable Sub-Adviser and other service providers who have been approved by the Board. The Board is currently comprised of ten Trustees, nine of whom (including the chairperson) are Independent Trustees. Generally, the Board acts by majority vote of
      all the Trustees, including a majority vote of the Independent Trustees if required by applicable law.</div>
    <div style="margin-bottom: 6pt;">&#160;&#160;&#160;&#160;&#160;The Board has appointed an Independent Chair, Ronald E. Toupin, Jr., who presides at Board meetings and who is responsible for, among other things, participating in the planning of Board meetings, setting the tone
      of Board meetings and seeking to encourage open dialogue and independent inquiry among the Trustees and management. In addition, the Independent Chair acts as a liaison with officers, counsel and other Trustees between meetings of the Board. The
      Independent Chair may also perform such other functions as may be delegated by the Board from time to time. The Board has established five standing committees (as described below) and has delegated certain responsibilities to those committees, each
      of which is comprised solely of Independent Trustees. The Board and its</div>
    <div style="text-align: center; margin-bottom: 6pt;">15</div>
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      <div id="DSPFPageBreak" style="page-break-after: always;">
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    </div>
    <br>
    <div style="margin-bottom: 6pt;"><br>
    </div>
    <div style="margin-bottom: 6pt;">committees meet periodically throughout the year to oversee the Funds&#8217; activities, including through the review of the Funds&#8217; contractual arrangements with service providers and the Funds&#8217; financial statements,
      compliance with regulatory requirements, and performance. The Board may also establish informal working groups from time to time to review and address the policies and practices of the Trust or the Board with respect to certain specified matters. The
      Independent Trustees are advised by independent legal counsel experienced in Investment Company Act of 1940 (&#8220;1940 Act&#8221;) matters and are represented by such independent legal counsel at Board and committee meetings. The Board has determined that this
      leadership structure, including an Independent Chair, a supermajority of Independent Trustees and committee membership limited to Independent Trustees, is appropriate in light of the characteristics and circumstances of the Funds because it allocates
      responsibilities among the Committees and the Board in a manner that further enhances effective oversight. The Board considered, among other things: the number of portfolios that comprise the trusts in the Guggenheim Family of Funds overseen by
      members of the Board; the variety of asset classes those portfolios include; the net assets of each Fund and the Guggenheim Family of Funds; and the management, distribution and other service arrangements of each Fund and the Guggenheim Family of
      Funds. The Board may at any time and in its discretion change this leadership structure.</div>
    <div style="margin-bottom: 6pt; font-weight: bold;">Board Committees</div>
    <div style="margin-bottom: 6pt;">&#160;&#160;&#160;&#160;&#160;The Trustees have determined that the efficient conduct of the Funds&#8217; affairs makes it desirable to delegate responsibility for certain specific matters to committees of the Board. The committees meet as often as
      necessary, either in conjunction with regular meetings of the Trustees or otherwise. The committees of the Board are the Executive Committee, the Audit Committee, the Nominating and Governance Committee, the Contracts Review Committee and the
      Valuation Oversight Committee.</div>
    <div style="margin-bottom: 6pt;">&#160;&#160;&#160;&#160;&#160;<font style="font-style: italic;">Executive Committee. </font>The Board has an Executive Committee, which is composed of Sandra G. Sponem and Ronald E. Toupin, Jr., each an Independent Trustee. In between meetings
      of the full Board, the Executive Committee generally may exercise all the powers of the full Board in the management of the business of the Funds. However, the Executive Committee cannot, among other things, authorize dividends or distributions on
      shares, amend the bylaws or recommend to the shareholders any action which requires shareholder approval.</div>
    <div style="margin-bottom: 6pt;">&#160;&#160;&#160;&#160;&#160;<font style="font-style: italic;">Audit Committee. </font>The Board has an Audit Committee, which is composed of Randall C. Barnes, Angela Brock-Kyle, Donald A. Chubb, Jr., Jerry B. Farley, Roman Friedrich III,
      Thomas F. Lydon, Jr., Ronald A. Nyberg, Sandra G. Sponem, and Ronald E. Toupin, Jr., each of whom is an Independent Trustee (as defined herein) and is &#8220;independent&#8221; as defined by NYSE listing standards. Dr. Farley serves as Chair of the Audit
      Committee.</div>
    <div style="margin-bottom: 6pt;">&#160;&#160;&#160;&#160;&#160;The Audit Committee is generally responsible for certain oversight matters, such as reviewing the Funds&#8217; systems for accounting, financial reporting</div>
    <div style="text-align: center; margin-bottom: 6pt;">16</div>
    <div id="DSPFPageBreakArea" style="clear: both; margin-top: 10pt; margin-bottom: 10pt;">
      <div id="DSPFPageBreak" style="page-break-after: always;">
        <hr noshade="noshade" style="border-width: 0px; clear: both; margin: 4px 0px; width: 100%; height: 2px; color: #000000; background-color: #000000;"></div>
    </div>
    <br>
    <div style="margin-bottom: 6pt;"><br>
    </div>
    <div style="margin-bottom: 6pt;">and internal controls and, as appropriate, the internal controls of certain service providers, overseeing the integrity of the Funds&#8217; financial statements (and the audit thereof), as well as the qualifications,
      independence and performance of the Funds&#8217; independent registered public accounting firm. The Audit Committee is also responsible for recommending to the Board the appointment, retention and termination of the Funds&#8217; independent registered public
      accounting firm and acting as a liaison between the Board and the Funds&#8217; independent registered public accounting firm. The Audit Committee is governed by a written charter (the &#8220;Audit Committee Charter&#8221;). The Audit Committee Charter is available
      under &#8220;News &amp; Literature&#8221; on each Fund&#8217;s page at <u>www.guggenheiminvestments.com/cef</u>.</div>
    <div style="margin-bottom: 6pt; margin-left: 10pt;">The Audit Committee presents the following report on behalf of each Fund:</div>
    <div style="margin-bottom: 6pt; margin-left: 10pt;">The Audit Committee of the Board is charged with selecting an independent registered public accounting firm for the Funds and reviewing accounting matters with the independent accountants. The Audit
      Committee reviews the Funds&#8217; annual financial statements with both management and the Funds&#8217; independent registered public accounting firm and the Audit Committee meets periodically with the independent accountants to consider their evaluation of the
      Fund&#8217;s financial and internal controls. In addition to being Independent Trustees as defined above, each member of the Audit Committee also meets the additional independence requirements of the New York Stock Exchange.</div>
    <div style="margin-bottom: 6pt; margin-left: 10pt;">The Audit Committee, in discharging its duties, has met with and held discussions with management and the Funds&#8217; independent accountants. The Audit Committee has reviewed and discussed the audited
      financial statements with management. Management has represented to the independent accountants that the Funds&#8217; financial statements were prepared in accordance with generally accepted accounting principles.</div>
    <div style="margin-bottom: 6pt; margin-left: 10pt;">The Audit Committee has also discussed with the independent accountants the matters required to be discussed by Statement on Auditing Standards No. 114 (The Auditor&#8217;s Communications With Those Charged
      With Governance). The independent accountants provided to the Audit Committee the written disclosure required by Public Company Accounting Oversight Board Rule 3526 (Communication with Audit Committees Concerning Independence), and the Audit
      Committee discussed with representatives of the independent registered public accounting firm their firm&#8217;s independence.</div>
    <div style="margin-bottom: 6pt; margin-left: 10pt;">Based on the Audit Committee&#8217;s review and discussions with management and the independent accountants, the representations of management and the reports of the independent registered public accounting
      firm to the Audit Committee, the Audit Committee recommended and approved, pursuant to authority delegated by Board of Trustees of the Funds, that the audited financial statements be included in the Funds&#8217; annual report.</div>
    <div style="text-align: center; margin-bottom: 6pt;">17</div>
    <div id="DSPFPageBreakArea" style="clear: both; margin-top: 10pt; margin-bottom: 10pt;">
      <div id="DSPFPageBreak" style="page-break-after: always;">
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    </div>
    <br>
    <div style="margin-bottom: 6pt;"><br>
    </div>
    <div style="margin-bottom: 6pt; margin-left: 10pt;">The members of the Audit Committee are Randall C. Barnes, Angela Brock-Kyle, Donald A. Chubb, Jr., Jerry B. Farley, Roman Friedrich III, Thomas F. Lydon, Jr., Ronald A. Nyberg, Sandra G. Sponem, and
      Ronald E. Toupin, Jr.</div>
    <div style="margin-bottom: 6pt;">&#160;&#160;&#160;&#160;&#160;<font style="font-style: italic;">Nominating and Governance Committee. </font>The Board has a Nominating and Governance Committee, which is composed of Randall C. Barnes, Angela Brock-Kyle, Donald A. Chubb, Jr.,
      Jerry B. Farley, Roman Friedrich III, Thomas F. Lydon, Jr., Ronald A. Nyberg, Sandra G. Sponem, and Ronald E. Toupin, Jr., each of whom is an Independent Trustee and is &#8220;independent&#8221; as defined by NYSE listing standards. Mr. Nyberg serves as Chair of
      the Nominating and Governance Committee.</div>
    <div style="margin-bottom: 6pt;">&#160;&#160;&#160;&#160;&#160;The Nominating and Governance Committee is governed by a written charter (the &#8220;Nominating and Governance Committee Charter&#8221;). The Nominating and Governance Committee Charter is available under &#8220;News &amp;
      Literature&#8221; on each Fund&#8217;s page at <u>www.guggenheiminvestments.com/cef</u>.</div>
    <div style="margin-bottom: 6pt;">&#160;&#160;&#160;&#160;&#160;The purpose of the Nominating and Governance Committee is to review matters pertaining to the composition, committees, and operations of the Board. The Nominating and Governance Committee is responsible for
      recommending qualified candidates to the Board in the event that a position is vacated or created. The Nominating and Governance Committee would consider recommendations by shareholders if a vacancy were to exist and shall assess shareholder
      recommendations in the same manner as it reviews its own candidates. The Board does not have a standing compensation committee.</div>
    <div style="margin-bottom: 6pt;">&#160;&#160;&#160;&#160;&#160;In considering Trustee nominee candidates, the Nominating and Governance Committee requires that Trustee candidates have a college degree or equivalent experience and may take into account a wide variety of factors
      in considering Trustee candidates, including (but not limited to): availability and commitment of a candidate to attend meetings and perform his or her responsibilities on the Board, relevant industry and related experience, educational background,
      financial expertise, the candidate&#8217;s ability, judgment and expertise and overall diversity of the Board&#8217;s composition. The Nominating and Governance Committee may consider candidates recommended by various sources, including (but not limited to):
      such Fund&#8217;s current Trustees, officers, investment advisers and shareholders. The Nominating and Governance Committee will not nominate a person for election to the Board as an Independent Trustee in contravention of its Independent Trustee
      Retirement Policy. The Nominating and Governance Committee may, but is not required to, retain a third party search firm to identify potential candidates.</div>
    <div style="margin-bottom: 6pt;">&#160;&#160;&#160;&#160;&#160;A Trustee candidate must (i) be prepared to submit written answers to a questionnaire seeking professional and personal information that will assist the Nominating and Governance Committee to evaluate the candidate
      and to determine, among other matters, whether the candidate would qualify as a Trustee who is not an &#8220;interested person&#8221; of the Funds as such term is defined under the 1940 Act; (ii)</div>
    <div style="text-align: center; margin-bottom: 6pt;">18</div>
    <div id="DSPFPageBreakArea" style="clear: both; margin-top: 10pt; margin-bottom: 10pt;">
      <div id="DSPFPageBreak" style="page-break-after: always;">
        <hr noshade="noshade" style="border-width: 0px; clear: both; margin: 4px 0px; width: 100%; height: 2px; color: #000000; background-color: #000000;"></div>
    </div>
    <br>
    <div style="margin-bottom: 6pt;"><br>
    </div>
    <div style="margin-bottom: 6pt;">be prepared to submit character references and agree to appropriate background checks; and (iii) be prepared to meet with one or more members of the Nominating and Governance Committee at a time and location convenient
      to those Nominating and Governance Committee members in order to discuss the nominee&#8217;s qualifications.</div>
    <div style="margin-bottom: 6pt;">&#160;&#160;&#160;&#160;&#160;The Nominating and Governance Committee will consider Trustee candidates recommended by shareholders of the Funds. The Nominating and Governance Committee will consider and evaluate trustee nominee candidates
      properly submitted by shareholders on the same basis as it considers and evaluates candidates recommended by other sources.</div>
    <div style="margin-bottom: 6pt;">&#160;&#160;&#160;&#160;&#160;In considering Trustee nominee candidates, the Nominating and Governance Committee takes into account a wide variety of factors, including the overall diversity of the Board&#8217;s composition. The Nominating and
      Governance Committee believes the Board generally benefits from diversity of background, experience and views among its members, and considers this a factor in evaluating the composition of the Board, but has not adopted any specific policy in this
      regard.</div>
    <div style="margin-bottom: 6pt;">&#160;&#160;&#160;&#160;&#160;To have a candidate considered by the Nominating and Governance Committee, a shareholder must submit the recommendation in writing and must include the information required by the &#8220;Procedures for Shareholders to
      Submit Nominee Candidates&#8221; that are set forth as Appendix B to the Nominating and Governance Committee Charter. Shareholder recommendations must be sent to the Funds&#8217; Secretary, c/o Guggenheim Funds Investment Advisors, LLC, 227 West Monroe Street,
      7th Floor, Chicago, Illinois 60606.</div>
    <div style="margin-bottom: 6pt;">&#160;&#160;&#160;&#160;&#160;The nominees for election at the Annual Meeting currently serve as Trustees and were unanimously nominated by the Board of Trustees and the Nominating and Governance Committee.</div>
    <div style="margin-bottom: 6pt;">&#160;&#160;&#160;&#160;&#160;<font style="font-style: italic;">Contracts Review Committee. </font>The Board has a Contracts Review Committee, which is composed of Randall C. Barnes, Angela Brock-Kyle, Donald A. Chubb, Jr., Jerry B. Farley,
      Roman Friedrich III, Thomas F. Lydon, Jr., Ronald A. Nyberg, Sandra G. Sponem, and Ronald E. Toupin, Jr., each of whom is an Independent Trustee. Mr. Friedrich serves as Chair of the Contracts Review Committee. The purpose of the Contracts Review
      Committee is to assist the Board in overseeing the evaluation of certain contracts to which a Fund is or is proposed to be a party to ensure that the interests of the Fund and its shareholders are served by the terms of these contracts. The
      Committee&#8217;s primary function is to oversee the process of evaluating existing investment advisory and subadvisory agreements, administration agreements, distribution agreements. In addition, at its discretion or at the request of the Board, the
      Committee reviews and makes recommendations to the Board with respect to any contract to which a Fund is or is proposed to be a party.</div>
    <div style="margin-bottom: 6pt;">&#160;&#160;&#160;&#160;&#160;<font style="font-style: italic;">Valuation Oversight Committee. </font>The Board has a Valuation Oversight Committee, which is composed of Randall C. Barnes, Angela Brock-Kyle, Donald A. Chubb, Jr., Roman
      Friedrich III, and Sandra G. Sponem, each of whom is an</div>
    <div style="text-align: center; margin-bottom: 6pt;">19</div>
    <div id="DSPFPageBreakArea" style="clear: both; margin-top: 10pt; margin-bottom: 10pt;">
      <div id="DSPFPageBreak" style="page-break-after: always;">
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    </div>
    <br>
    <div style="margin-bottom: 6pt;"><br>
    </div>
    <div style="margin-bottom: 6pt;">Independent Trustee. Mr. Chubb serves as Chair of the Valuation Oversight Committee. The Valuation Oversight Committee assists the Board in overseeing the activities of Guggenheim&#8217;s Valuation Committee and the valuation
      of securities and other assets held by the Funds. Duties of the Valuation Oversight Committee include reviewing the Funds&#8217; valuation procedures, evaluating pricing services that are being used for the Funds, and receiving reports relating to actions
      taken by Guggenheim&#8217;s Valuation Committee.</div>
    <div style="margin-bottom: 6pt; font-weight: bold;">Board and Committee Meetings</div>
    <div style="margin-bottom: 6pt;">&#160;&#160;&#160;&#160;&#160;Information regarding the number of meetings of the Board, Audit Committee, Nominating and Governance Committee, Contracts Review Committee and Valuation Oversight Committee of each Fund during such Fund&#8217;s most
      recently completed fiscal year is set forth in the table below (The Executive Committee did not meet during the fiscal year ends shown):</div>
    <table cellspacing="0" cellpadding="0" border="0" style="font-family: Arial; font-size: 10pt; width: 100%; border-collapse: collapse; text-align: left; color: #000000;" id="z14d1c921e3be404d879741c2234baa20">

        <tr>
          <td style="width: 15%; vertical-align: middle; font-family: 'Times New Roman';">&#160;</td>
          <td style="width: 15%; vertical-align: middle; font-family: 'Times New Roman';">&#160;</td>
          <td style="width: 13.53%; vertical-align: middle; font-family: 'Times New Roman';">&#160;</td>
          <td style="width: 14%; vertical-align: middle; font-family: 'Times New Roman';">&#160;</td>
          <td style="width: 14%; vertical-align: middle; font-family: 'Times New Roman';">&#160;</td>
          <td style="width: 14%; vertical-align: middle; font-family: 'Times New Roman';">&#160;</td>
          <td style="width: 14%; vertical-align: middle; font-family: 'Times New Roman';">&#160;</td>
        </tr>
        <tr>
          <td style="width: 15%; vertical-align: bottom; font-family: 'Times New Roman';">
            <div>&#160;</div>
          </td>
          <td style="width: 15%; vertical-align: bottom; font-family: 'Times New Roman';">
            <div>&#160;</div>
          </td>
          <td style="width: 13.53%; vertical-align: bottom; font-family: 'Times New Roman';">
            <div>&#160;</div>
          </td>
          <td style="width: 14%; vertical-align: bottom; font-family: 'Times New Roman';">
            <div style="text-align: center;">&#160;</div>
          </td>
          <td style="width: 14%; vertical-align: bottom;">
            <div style="text-align: center;"><font style="font-family: 'Times New Roman'; font-weight: bold;">Nominating</font><font style="font-family: 'Times New Roman';">&#160;</font></div>
          </td>
          <td style="width: 14%; vertical-align: bottom;">
            <div style="text-align: center;"><font style="font-family: 'Times New Roman'; font-weight: bold;">Contract</font><font style="font-family: 'Times New Roman';">&#160;</font></div>
          </td>
          <td style="width: 14%; vertical-align: bottom;">
            <div style="text-align: center;"><font style="font-family: 'Times New Roman'; font-weight: bold;">Valuation</font><font style="font-family: 'Times New Roman';">&#160;</font></div>
          </td>
        </tr>
        <tr>
          <td style="width: 15%; vertical-align: bottom; font-family: 'Times New Roman';">
            <div>&#160;</div>
          </td>
          <td style="width: 15%; vertical-align: bottom; font-family: 'Times New Roman';">
            <div>&#160;</div>
          </td>
          <td style="width: 13.53%; vertical-align: bottom; font-family: 'Times New Roman';">
            <div>&#160;</div>
          </td>
          <td style="width: 14%; vertical-align: bottom;">
            <div style="text-align: center;"><font style="font-family: 'Times New Roman'; font-weight: bold;">Audit</font><font style="font-family: 'Times New Roman';">&#160;</font></div>
          </td>
          <td style="width: 14%; vertical-align: bottom;">
            <div style="text-align: center;"><font style="font-family: 'Times New Roman'; font-weight: bold;">and</font><font style="font-family: 'Times New Roman';">&#160;</font></div>
          </td>
          <td style="width: 14%; vertical-align: bottom;">
            <div style="text-align: center;"><font style="font-family: 'Times New Roman'; font-weight: bold;">Review</font><font style="font-family: 'Times New Roman';">&#160;</font></div>
          </td>
          <td style="width: 14%; vertical-align: bottom;">
            <div style="text-align: center;"><font style="font-family: 'Times New Roman'; font-weight: bold;">Oversight</font><font style="font-family: 'Times New Roman';">&#160;</font></div>
          </td>
        </tr>
        <tr>
          <td style="width: 15%; vertical-align: bottom; font-family: 'Times New Roman';">
            <div>&#160;</div>
          </td>
          <td style="width: 15%; vertical-align: bottom;">
            <div style="text-align: center;"><font style="font-family: 'Times New Roman'; font-weight: bold;">Fiscal Year</font><font style="font-family: 'Times New Roman';">&#160;</font></div>
          </td>
          <td style="width: 13.53%; vertical-align: bottom;">
            <div style="text-align: center;"><font style="font-family: 'Times New Roman'; font-weight: bold;">Board</font><font style="font-family: 'Times New Roman';">&#160;</font></div>
          </td>
          <td style="width: 14%; vertical-align: bottom;">
            <div style="text-align: center;"><font style="font-family: 'Times New Roman'; font-weight: bold;">Committee&#160;</font><font style="font-family: 'Times New Roman';"></font></div>
          </td>
          <td style="width: 14%; vertical-align: bottom; text-align: center;"><font style="font-family: 'Times New Roman'; font-weight: bold;">Governance <br>
            </font></td>
          <td style="width: 14%; vertical-align: bottom; text-align: center;"><font style="font-family: 'Times New Roman'; font-weight: bold;">Committee</font><font style="font-family: 'Times New Roman';"> <br>
            </font></td>
          <td style="width: 14%; vertical-align: bottom;">
            <div style="text-align: center;"><font style="font-family: 'Times New Roman'; font-weight: bold;">Committee</font><font style="font-family: 'Times New Roman';">&#160;</font></div>
          </td>
        </tr>
        <tr>
          <td style="width: 15%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0);">
            <div><font style="font-family: 'Times New Roman'; font-weight: bold;">Fund</font><font style="font-family: 'Times New Roman';">&#160;</font></div>
          </td>
          <td style="width: 15%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0);">
            <div style="text-align: center;"><font style="font-family: 'Times New Roman'; font-weight: bold;">End</font><font style="font-family: 'Times New Roman';">&#160;</font></div>
          </td>
          <td style="width: 13.53%; vertical-align: bottom; border-bottom: #000000 2px solid;">
            <div style="text-align: center;"><font style="font-family: 'Times New Roman'; font-weight: bold;">Meetings</font><font style="font-family: 'Times New Roman';">&#160;</font></div>
          </td>
          <td style="width: 14%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0);">
            <div style="text-align: center;"><font style="font-family: 'Times New Roman'; font-weight: bold;">Meetings</font><font style="font-family: 'Times New Roman';">&#160;</font></div>
          </td>
          <td style="width: 14%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0);">
            <div style="text-align: center;"><font style="font-family: 'Times New Roman'; font-weight: bold;">Meetings</font><font style="font-family: 'Times New Roman';">&#160;</font></div>
          </td>
          <td style="width: 14%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0);">
            <div style="text-align: center;"><font style="font-family: 'Times New Roman'; font-weight: bold;">Meetings</font><font style="font-family: 'Times New Roman';">&#160;</font></div>
          </td>
          <td style="width: 14%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0);">
            <div style="text-align: center;"><font style="font-family: 'Times New Roman'; font-weight: bold;">Meetings*</font><font style="font-family: 'Times New Roman';">&#160;</font></div>
          </td>
        </tr>
        <tr>
          <td style="width: 15%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
            <div><font style="font-family: 'Times New Roman';">FMO</font><font style="font-family: 'Times New Roman';">&#160;</font></div>
          </td>
          <td style="width: 15%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
            <div style="text-align: center;"><font style="font-family: 'Times New Roman';">11/30/2019</font><font style="font-family: 'Times New Roman';">&#160;</font></div>
          </td>
          <td style="width: 13.53%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
            <div style="text-align: center;"><font style="font-family: 'Times New Roman';">4</font><font style="font-family: 'Times New Roman';">&#160;</font></div>
          </td>
          <td style="width: 14%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
            <div style="text-align: center;"><font style="font-family: 'Times New Roman';">6</font><font style="font-family: 'Times New Roman';">&#160;</font></div>
          </td>
          <td style="width: 14%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
            <div style="text-align: center;"><font style="font-family: 'Times New Roman';">3</font><font style="font-family: 'Times New Roman';">&#160;</font></div>
          </td>
          <td style="width: 14%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
            <div style="text-align: center;"><font style="font-family: 'Times New Roman';">2</font><font style="font-family: 'Times New Roman';">&#160;</font></div>
          </td>
          <td style="width: 14%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
            <div style="text-align: center;"><font style="font-family: 'Times New Roman';">4</font><font style="font-family: 'Times New Roman';">&#160;</font></div>
          </td>
        </tr>
        <tr>
          <td style="width: 15%; vertical-align: bottom; background-color: rgb(255, 255, 255);">
            <div><font style="font-family: 'Times New Roman';">GBAB</font><font style="font-family: 'Times New Roman';">&#160;</font></div>
          </td>
          <td style="width: 15%; vertical-align: bottom; background-color: rgb(255, 255, 255);">
            <div style="text-align: center;"><font style="font-family: 'Times New Roman';">5/31/2019</font><font style="font-family: 'Times New Roman';">&#160;</font></div>
          </td>
          <td style="width: 13.53%; vertical-align: bottom; background-color: rgb(255, 255, 255);">
            <div style="text-align: center;"><font style="font-family: 'Times New Roman';">4</font><font style="font-family: 'Times New Roman';">&#160;</font></div>
          </td>
          <td style="width: 14%; vertical-align: bottom; background-color: rgb(255, 255, 255);">
            <div style="text-align: center;"><font style="font-family: 'Times New Roman';">6</font><font style="font-family: 'Times New Roman';">&#160;</font></div>
          </td>
          <td style="width: 14%; vertical-align: bottom; background-color: rgb(255, 255, 255);">
            <div style="text-align: center;"><font style="font-family: 'Times New Roman';">3</font><font style="font-family: 'Times New Roman';">&#160;</font></div>
          </td>
          <td style="width: 14%; vertical-align: bottom; background-color: rgb(255, 255, 255);">
            <div style="text-align: center;"><font style="font-family: 'Times New Roman';">2</font><font style="font-family: 'Times New Roman';">&#160;</font></div>
          </td>
          <td style="width: 14%; vertical-align: bottom; background-color: rgb(255, 255, 255);">
            <div style="text-align: center;"><font style="font-family: 'Times New Roman';">4</font><font style="font-family: 'Times New Roman';">&#160;</font></div>
          </td>
        </tr>
        <tr>
          <td style="width: 15%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
            <div><font style="font-family: 'Times New Roman';">GGM</font><font style="font-family: 'Times New Roman';">&#160;</font></div>
          </td>
          <td style="width: 15%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
            <div style="text-align: center;"><font style="font-family: 'Times New Roman';">5/31/2019</font><font style="font-family: 'Times New Roman';">&#160;</font></div>
          </td>
          <td style="width: 13.53%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
            <div style="text-align: center;"><font style="font-family: 'Times New Roman';">4</font><font style="font-family: 'Times New Roman';">&#160;</font></div>
          </td>
          <td style="width: 14%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
            <div style="text-align: center;"><font style="font-family: 'Times New Roman';">6</font><font style="font-family: 'Times New Roman';">&#160;</font></div>
          </td>
          <td style="width: 14%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
            <div style="text-align: center;"><font style="font-family: 'Times New Roman';">3</font><font style="font-family: 'Times New Roman';">&#160;</font></div>
          </td>
          <td style="width: 14%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
            <div style="text-align: center;"><font style="font-family: 'Times New Roman';">2</font><font style="font-family: 'Times New Roman';">&#160;</font></div>
          </td>
          <td style="width: 14%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
            <div style="text-align: center;"><font style="font-family: 'Times New Roman';">4</font><font style="font-family: 'Times New Roman';">&#160;</font></div>
          </td>
        </tr>
        <tr>
          <td style="width: 15%; vertical-align: bottom; background-color: rgb(255, 255, 255);">
            <div><font style="font-family: 'Times New Roman';">GPM</font><font style="font-family: 'Times New Roman';">&#160;</font></div>
          </td>
          <td style="width: 15%; vertical-align: bottom; background-color: rgb(255, 255, 255);">
            <div style="text-align: center;"><font style="font-family: 'Times New Roman';">12/31/2019</font><font style="font-family: 'Times New Roman';">&#160;</font></div>
          </td>
          <td style="width: 13.53%; vertical-align: bottom; background-color: rgb(255, 255, 255);">
            <div style="text-align: center;"><font style="font-family: 'Times New Roman';">4</font><font style="font-family: 'Times New Roman';">&#160;</font></div>
          </td>
          <td style="width: 14%; vertical-align: bottom; background-color: rgb(255, 255, 255);">
            <div style="text-align: center;"><font style="font-family: 'Times New Roman';">5</font><font style="font-family: 'Times New Roman';">&#160;</font></div>
          </td>
          <td style="width: 14%; vertical-align: bottom; background-color: rgb(255, 255, 255);">
            <div style="text-align: center;"><font style="font-family: 'Times New Roman';">3</font><font style="font-family: 'Times New Roman';">&#160;</font></div>
          </td>
          <td style="width: 14%; vertical-align: bottom; background-color: rgb(255, 255, 255);">
            <div style="text-align: center;"><font style="font-family: 'Times New Roman';">2</font><font style="font-family: 'Times New Roman';">&#160;</font></div>
          </td>
          <td style="width: 14%; vertical-align: bottom; background-color: rgb(255, 255, 255);">
            <div style="text-align: center;"><font style="font-family: 'Times New Roman';">4</font><font style="font-family: 'Times New Roman';">&#160;</font></div>
          </td>
        </tr>
        <tr>
          <td style="width: 15%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
            <div><font style="font-family: 'Times New Roman';">GOF</font><font style="font-family: 'Times New Roman';">&#160;</font></div>
          </td>
          <td style="width: 15%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
            <div style="text-align: center;"><font style="font-family: 'Times New Roman';">5/31/2019</font><font style="font-family: 'Times New Roman';">&#160;</font></div>
          </td>
          <td style="width: 13.53%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
            <div style="text-align: center;"><font style="font-family: 'Times New Roman';">4</font><font style="font-family: 'Times New Roman';">&#160;</font></div>
          </td>
          <td style="width: 14%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
            <div style="text-align: center;"><font style="font-family: 'Times New Roman';">6</font><font style="font-family: 'Times New Roman';">&#160;</font></div>
          </td>
          <td style="width: 14%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
            <div style="text-align: center;"><font style="font-family: 'Times New Roman';">3</font><font style="font-family: 'Times New Roman';">&#160;</font></div>
          </td>
          <td style="width: 14%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
            <div style="text-align: center;"><font style="font-family: 'Times New Roman';">2</font><font style="font-family: 'Times New Roman';">&#160;</font></div>
          </td>
          <td style="width: 14%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
            <div style="text-align: center;"><font style="font-family: 'Times New Roman';">4</font><font style="font-family: 'Times New Roman';">&#160;</font></div>
          </td>
        </tr>

    </table>
    <div style="margin-bottom: 6pt;">&#160;</div>
    <div style="margin-bottom: 6pt;">&#160;&#160;&#160;&#160;&#160;Each Trustee attended at least 75% of the meetings of the Board (and any committee thereof on which he or she serves) held during the portion of each Fund&#8217;s fiscal year ended in 2019.</div>
    <div style="margin-bottom: 6pt; font-weight: bold;">Board&#8217;s Role in Risk Oversight</div>
    <div style="margin-bottom: 6pt;">&#160;&#160;&#160;&#160;&#160;The day-to-day business of the Funds, including the day-to-day management and administration of the Funds and of the risks that arise from the Funds&#8217; investments and operations, is performed by third-party service
      providers, primarily the Adviser or its affiliates. Consistent with its responsibility for oversight of the Funds, the Board is responsible for overseeing the service providers and thus, has oversight responsibility with respect to the risk
      management functions performed by those service providers. Risks to the Funds include, among others, investment risk, credit risk, valuation risk, compliance risk and operational risk, as well as the overall business risk relating to the Funds. Risk
      management seeks to identify and mitigate the potential effects of risks, i.e., events or circumstances that could have material adverse effects on the business, operations, investment performance or reputation of the Funds. Under the oversight of
      the Board, the service providers to the Funds employ a variety of processes, procedures and controls to seek to identify risks relevant to the operations of the Funds and to lessen the probability of the occurrence of such risks and/or to mitigate
      the effects of such events or circumstances if they do occur. Each service provider is responsible for one or more discrete aspects of the Funds&#8217; business and</div>
    <div style="text-align: center; margin-bottom: 6pt;">20</div>
    <div id="DSPFPageBreakArea" style="clear: both; margin-top: 10pt; margin-bottom: 10pt;">
      <div id="DSPFPageBreak" style="page-break-after: always;">
        <hr noshade="noshade" style="border-width: 0px; clear: both; margin: 4px 0px; width: 100%; height: 2px; color: #000000; background-color: #000000;"></div>
    </div>
    <br>
    <div style="margin-bottom: 6pt;"><br>
    </div>
    <div style="margin-bottom: 6pt;">consequently, for managing risks associated with that activity. Each of the Adviser and other service providers has its own independent interest in risk management, and its policies and methods of carrying out risk
      management functions will depend, in part, on its analysis of the risks, functions and business models. Accordingly, Board oversight of different types of risks may be handled in different ways. As part of the Board&#8217;s periodic review of each Fund&#8217;s
      advisory and other service provider agreements, the Board may consider risk management aspects of the service providers&#8217; operations and the functions for which they are responsible.</div>
    <div style="margin-bottom: 6pt;">&#160;&#160;&#160;&#160;&#160;The Board oversees risk management for the Funds directly and through the committee structure it has established. The Board has established the Audit Committee, the Nominating and Governance Committee, the
      Contracts Review Committee and the Valuation Oversight Committee to assist in its oversight functions, including its oversight of the risks each Fund faces. For instance, the Audit Committee receives reports from the Funds&#8217; independent registered
      public accounting firm on internal control and financial reporting matters. In addition, the Board has established an Executive Committee to act on the Board&#8217;s behalf, to the extent permitted and as necessary, in between meetings of the Board. Each
      committee reports its activities to the Board on a regular basis. The Board also oversees the risk management of the Funds&#8217; operations by requesting periodic reports from and otherwise communicating with various personnel of the Funds and their
      service providers, including, in particular, the Funds&#8217; Chief Compliance Officer, their independent registered public accounting firm and Guggenheim Investments&#8217; Chief Risk Officer and internal auditors for the Adviser or its affiliates, as
      applicable. In this connection, the Board requires officers of the Funds to report a variety of matters at regular and special meetings of the Board and its committees, as applicable, including matters relating to risk management. On at least a
      quarterly basis, the Board meets with the Funds&#8217; Chief Compliance Officer, including separate meetings with the Independent Trustees in executive session, to discuss compliance matters and, on at least an annual basis, receives a report from the
      Chief Compliance Officer regarding the adequacy of the policies and procedures of the Funds and certain service providers and the effectiveness of their implementation. The Board, with the assistance of Fund management, reviews investment policies
      and risks in connection with its review of the Funds&#8217; performance. In addition, the Board receives reports from the Adviser and Sub-Advisers, as applicable, on the investments and securities trading of the Funds. With respect to valuation, the
      Valuation Oversight Committee oversees a pricing committee comprised of Fund officers and personnel of the Adviser. The Board has approved valuation procedures applicable to valuing the Funds&#8217; securities and other assets, which the Valuation
      Oversight Committee and the Audit Committee periodically review. The Board also requires each Adviser and Sub-Adviser, as applicable, to report to the Board on other matters relating to risk management on a regular and as-needed basis.</div>
    <div style="text-align: center; margin-bottom: 6pt;">21</div>
    <div id="DSPFPageBreakArea" style="clear: both; margin-top: 10pt; margin-bottom: 10pt;">
      <div id="DSPFPageBreak" style="page-break-after: always;">
        <hr noshade="noshade" style="border-width: 0px; clear: both; margin: 4px 0px; width: 100%; height: 2px; color: #000000; background-color: #000000;"></div>
    </div>
    <br>
    <div style="margin-bottom: 6pt;"><br>
    </div>
    <div style="margin-bottom: 6pt;">&#160;&#160;&#160;&#160;&#160;The Board recognizes that not all risks that may affect the Funds can be identified, that it may not be practical or cost-effective to eliminate or mitigate certain risks, that it may be necessary to bear certain
      risks (such as investment-related risks) to seek to achieve the Funds&#8217; investment objectives, and that the processes, procedures and controls employed to address certain risks may be limited in their effectiveness. As part of its oversight function,
      the Board receives and reviews various risk management reports and assessments and discusses these matters with appropriate management and other personnel. Moreover, despite the periodic reports the Board receives, it may not be made aware of all of
      the relevant information of a particular risk. Most of the Funds&#8217; investment management and business affairs are carried out by or through the Adviser or its affiliates and other service providers, most of whom employ professional personnel who have
      risk management responsibilities and each of whom has an independent interest in risk management, which interest could differ from or conflict with that of the other funds that are advised by Adviser. The role of the Board and of any individual
      Trustee is one of oversight and not of management of the day-to-day affairs of the Funds and its oversight role does not make the Board a guarantor of the Funds&#8217; investments, operations or activities. As a result of the foregoing and other factors,
      the Board&#8217;s risk management oversight is subject to limitations. The Board may at any time and in its discretion change how it administers its risk oversight function.</div>
    <div style="margin-bottom: 6pt; font-weight: bold;">Trustee Communications</div>
    <div style="margin-bottom: 6pt;">&#160;&#160;&#160;&#160;&#160;Shareholders and other interested parties may contact the Board or any Trustee by mail. To communicate with the Board or any Trustee, correspondence should be addressed to the Board or the Board members with whom
      you wish to communicate by either name or title. All such correspondence should be sent c/o the Secretary of the Fund or Funds at 227 West Monroe Street, 7th Floor, Chicago, Illinois 60606.</div>
    <div style="margin-bottom: 6pt; font-weight: bold;">Trustee Beneficial Ownership of Securities</div>
    <div style="margin-bottom: 6pt;">&#160;&#160;&#160;&#160;&#160;The table below indicates the dollar range of equity securities of each Fund and funds in the Fund Complex beneficially owned by the Trustees as of December 31, 2019:</div>
    <div style="text-align: center; margin-bottom: 6pt;">22</div>
    <div id="DSPFPageBreakArea" style="clear: both; margin-top: 10pt; margin-bottom: 10pt;">
      <div id="DSPFPageBreak" style="page-break-after: always;">
        <hr noshade="noshade" style="border-width: 0px; clear: both; margin: 4px 0px; width: 100%; height: 2px; color: #000000; background-color: #000000;"></div>
    </div>
    <br>
    <div style="margin-bottom: 6pt;"><br>
    </div>
    <table cellspacing="0" cellpadding="0" style="font-family: Arial; font-size: 10pt; width: 100%; border-collapse: collapse; text-align: left; color: #000000;" id="zff58ba87babc4527b4e65a53ad9f2089">

        <tr>
          <td style="width: 15%; vertical-align: middle; font-family: 'Times New Roman';">&#160;</td>
          <td style="width: 15%; vertical-align: middle; font-family: 'Times New Roman';">&#160;</td>
          <td style="width: 13.53%; vertical-align: middle; font-family: 'Times New Roman';">&#160;</td>
          <td style="width: 14%; vertical-align: middle; font-family: 'Times New Roman';">&#160;</td>
          <td style="width: 14%; vertical-align: middle; font-family: 'Times New Roman';">&#160;</td>
          <td style="width: 14%; vertical-align: middle; font-family: 'Times New Roman';">&#160;</td>
          <td style="width: 14%; vertical-align: middle; font-family: 'Times New Roman';">&#160;</td>
        </tr>
        <tr>
          <td style="width: 15%; vertical-align: bottom; font-family: 'Times New Roman';">
            <div>&#160;</div>
          </td>
          <td style="width: 15%; vertical-align: bottom; font-family: 'Times New Roman';">
            <div>&#160;</div>
          </td>
          <td style="width: 13.53%; vertical-align: bottom; font-family: 'Times New Roman';">
            <div>&#160;</div>
          </td>
          <td style="width: 14%; vertical-align: bottom; font-family: 'Times New Roman';">
            <div>&#160;</div>
          </td>
          <td style="width: 14%; vertical-align: bottom; font-family: 'Times New Roman';">
            <div>&#160;</div>
          </td>
          <td style="width: 14%; vertical-align: bottom; font-family: 'Times New Roman';">
            <div>&#160;</div>
          </td>
          <td style="width: 14%; vertical-align: bottom;">
            <div style="text-align: center;"><font style="font-family: 'Times New Roman'; font-weight: bold;">Aggregate</font><font style="font-family: 'Times New Roman';">&#160;</font></div>
          </td>
        </tr>
        <tr>
          <td style="width: 15%; vertical-align: bottom; font-family: 'Times New Roman';">
            <div>&#160;</div>
          </td>
          <td style="width: 15%; vertical-align: bottom; font-family: 'Times New Roman';">
            <div>&#160;</div>
          </td>
          <td style="width: 13.53%; vertical-align: bottom; font-family: 'Times New Roman';">
            <div>&#160;</div>
          </td>
          <td style="width: 14%; vertical-align: bottom; font-family: 'Times New Roman';">
            <div>&#160;</div>
          </td>
          <td style="width: 14%; vertical-align: bottom; font-family: 'Times New Roman';">
            <div>&#160;</div>
          </td>
          <td style="width: 14%; vertical-align: bottom; font-family: 'Times New Roman';">
            <div>&#160;</div>
          </td>
          <td style="width: 14%; vertical-align: bottom;">
            <div style="text-align: center;"><font style="font-family: 'Times New Roman'; font-weight: bold;">dollar range</font><font style="font-family: 'Times New Roman';">&#160;</font></div>
          </td>
        </tr>
        <tr>
          <td style="width: 15%; vertical-align: bottom; font-family: 'Times New Roman';">
            <div>&#160;</div>
          </td>
          <td style="width: 15%; vertical-align: bottom; font-family: 'Times New Roman';">
            <div>&#160;</div>
          </td>
          <td style="width: 13.53%; vertical-align: bottom; font-family: 'Times New Roman';">
            <div>&#160;</div>
          </td>
          <td style="width: 14%; vertical-align: bottom; font-family: 'Times New Roman';">
            <div>&#160;</div>
          </td>
          <td style="width: 14%; vertical-align: bottom; font-family: 'Times New Roman';">
            <div>&#160;</div>
          </td>
          <td style="width: 14%; vertical-align: bottom; font-family: 'Times New Roman';">
            <div>&#160;</div>
          </td>
          <td style="width: 14%; vertical-align: bottom;">
            <div style="text-align: center;"><font style="font-family: 'Times New Roman'; font-weight: bold;">of equity</font><font style="font-family: 'Times New Roman';">&#160;</font></div>
          </td>
        </tr>
        <tr>
          <td style="width: 15%; vertical-align: bottom; font-family: 'Times New Roman';">
            <div>&#160;</div>
          </td>
          <td style="width: 15%; vertical-align: bottom; font-family: 'Times New Roman';">
            <div>&#160;</div>
          </td>
          <td style="width: 13.53%; vertical-align: bottom; font-family: 'Times New Roman';">
            <div>&#160;</div>
          </td>
          <td style="width: 14%; vertical-align: bottom; font-family: 'Times New Roman';">
            <div>&#160;</div>
          </td>
          <td style="width: 14%; vertical-align: bottom; font-family: 'Times New Roman';">
            <div>&#160;</div>
          </td>
          <td style="width: 14%; vertical-align: bottom; font-family: 'Times New Roman';">
            <div>&#160;</div>
          </td>
          <td style="width: 14%; vertical-align: bottom;">
            <div style="text-align: center;"><font style="font-family: 'Times New Roman'; font-weight: bold;">securities in</font><font style="font-family: 'Times New Roman';">&#160;</font></div>
          </td>
        </tr>
        <tr>
          <td style="width: 15%; vertical-align: bottom; font-family: 'Times New Roman';">
            <div>&#160;</div>
          </td>
          <td style="width: 15%; vertical-align: bottom; font-family: 'Times New Roman';">
            <div>&#160;</div>
          </td>
          <td style="width: 13.53%; vertical-align: bottom; font-family: 'Times New Roman';">
            <div>&#160;</div>
          </td>
          <td style="width: 14%; vertical-align: bottom; font-family: 'Times New Roman';">
            <div>&#160;</div>
          </td>
          <td style="width: 14%; vertical-align: bottom; font-family: 'Times New Roman';">
            <div>&#160;</div>
          </td>
          <td style="width: 14%; vertical-align: bottom; font-family: 'Times New Roman';">
            <div>&#160;</div>
          </td>
          <td style="width: 14%; vertical-align: bottom;">
            <div style="text-align: center;"><font style="font-family: 'Times New Roman'; font-weight: bold;">all funds in</font><font style="font-family: 'Times New Roman';">&#160;</font></div>
          </td>
        </tr>
        <tr>
          <td style="width: 15%; vertical-align: bottom; font-family: 'Times New Roman';">
            <div>&#160;</div>
          </td>
          <td style="width: 15%; vertical-align: bottom; font-family: 'Times New Roman';">
            <div>&#160;</div>
          </td>
          <td style="width: 13.53%; vertical-align: bottom; font-family: 'Times New Roman';">
            <div>&#160;</div>
          </td>
          <td style="width: 14%; vertical-align: bottom; font-family: 'Times New Roman';">
            <div>&#160;</div>
          </td>
          <td style="width: 14%; vertical-align: bottom; font-family: 'Times New Roman';">
            <div>&#160;</div>
          </td>
          <td style="width: 14%; vertical-align: bottom; font-family: 'Times New Roman';">
            <div>&#160;</div>
          </td>
          <td style="width: 14%; vertical-align: bottom;">
            <div style="text-align: center;"><font style="font-family: 'Times New Roman'; font-weight: bold;">the Fund</font><font style="font-family: 'Times New Roman';">&#160;</font></div>
          </td>
        </tr>
        <tr>
          <td style="width: 15%; vertical-align: bottom; font-family: 'Times New Roman';">
            <div>&#160;</div>
          </td>
          <td style="width: 15%; vertical-align: bottom; font-family: 'Times New Roman';">
            <div>&#160;</div>
          </td>
          <td style="width: 13.53%; vertical-align: bottom; font-family: 'Times New Roman';">
            <div>&#160;</div>
          </td>
          <td style="width: 14%; vertical-align: bottom; font-family: 'Times New Roman';">
            <div>&#160;</div>
          </td>
          <td style="width: 14%; vertical-align: bottom; font-family: 'Times New Roman';">
            <div>&#160;</div>
          </td>
          <td style="width: 14%; vertical-align: bottom; font-family: 'Times New Roman';">
            <div>&#160;</div>
          </td>
          <td style="width: 14%; vertical-align: bottom;">
            <div style="text-align: center;"><font style="font-family: 'Times New Roman'; font-weight: bold;">Complex</font><font style="font-family: 'Times New Roman';">&#160;</font></div>
          </td>
        </tr>
        <tr>
          <td style="width: 15%; vertical-align: bottom; font-family: 'Times New Roman';">
            <div>&#160;</div>
          </td>
          <td style="width: 15%; vertical-align: bottom; font-family: 'Times New Roman';">
            <div>&#160;</div>
          </td>
          <td style="width: 13.53%; vertical-align: bottom; font-family: 'Times New Roman';">
            <div>&#160;</div>
          </td>
          <td style="width: 14%; vertical-align: bottom; font-family: 'Times New Roman';">
            <div>&#160;</div>
          </td>
          <td style="width: 14%; vertical-align: bottom; font-family: 'Times New Roman';">
            <div>&#160;</div>
          </td>
          <td style="width: 14%; vertical-align: bottom; font-family: 'Times New Roman';">
            <div>&#160;</div>
          </td>
          <td style="width: 14%; vertical-align: bottom;">
            <div style="text-align: center;"><font style="font-family: 'Times New Roman'; font-weight: bold;">Overseen by</font><font style="font-family: 'Times New Roman';">&#160;</font></div>
          </td>
        </tr>
        <tr>
          <td style="width: 15%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0); font-family: 'Times New Roman';">
            <div>&#160;</div>
          </td>
          <td style="width: 15%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0);">
            <div style="text-align: center;"><font style="font-family: 'Times New Roman'; font-weight: bold;">FMO</font><font style="font-family: 'Times New Roman';">&#160;</font></div>
          </td>
          <td style="width: 13.53%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0);">
            <div style="text-align: center;"><font style="font-family: 'Times New Roman'; font-weight: bold;">GBAB</font><font style="font-family: 'Times New Roman';">&#160;</font></div>
          </td>
          <td style="width: 14%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0);">
            <div style="text-align: center;"><font style="font-family: 'Times New Roman'; font-weight: bold;">GGM</font><font style="font-family: 'Times New Roman';">&#160;</font></div>
          </td>
          <td style="width: 14%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0);">
            <div style="text-align: center;"><font style="font-family: 'Times New Roman'; font-weight: bold;">GPM</font><font style="font-family: 'Times New Roman';">&#160;</font></div>
          </td>
          <td style="width: 14%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0);">
            <div style="text-align: center;"><font style="font-family: 'Times New Roman'; font-weight: bold;">GOF</font><font style="font-family: 'Times New Roman';">&#160;</font></div>
          </td>
          <td style="width: 14%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0);">
            <div style="text-align: center;"><font style="font-family: 'Times New Roman'; font-weight: bold;">the Trustee</font><font style="font-family: 'Times New Roman';">&#160;</font></div>
          </td>
        </tr>
        <tr>
          <td colspan="7" style="vertical-align: middle; font-family: 'Times New Roman'; background-color: rgb(204, 238, 255);">
            <div>&#160;</div>
          </td>
        </tr>
        <tr>
          <td style="width: 15%; vertical-align: bottom; background-color: rgb(255, 255, 255);">
            <div><font style="font-family: 'Times New Roman'; font-style: italic;">Independent Trustees</font><font style="font-family: 'Times New Roman';">&#160;</font></div>
          </td>
          <td style="width: 15%; vertical-align: bottom; font-family: 'Times New Roman'; background-color: rgb(255, 255, 255);">
            <div>&#160;</div>
          </td>
          <td style="width: 13.53%; vertical-align: bottom; font-family: 'Times New Roman'; background-color: rgb(255, 255, 255);">
            <div>&#160;</div>
          </td>
          <td style="width: 14%; vertical-align: bottom; font-family: 'Times New Roman'; background-color: rgb(255, 255, 255);">
            <div>&#160;</div>
          </td>
          <td style="width: 14%; vertical-align: bottom; font-family: 'Times New Roman'; background-color: rgb(255, 255, 255);">
            <div>&#160;</div>
          </td>
          <td style="width: 14%; vertical-align: bottom; font-family: 'Times New Roman'; background-color: rgb(255, 255, 255);">
            <div>&#160;</div>
          </td>
          <td style="width: 14%; vertical-align: bottom; font-family: 'Times New Roman'; background-color: rgb(255, 255, 255);">
            <div>&#160;</div>
          </td>
        </tr>
        <tr>
          <td style="width: 15%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
            <div><font style="font-family: 'Times New Roman';">Barnes</font><font style="font-family: 'Times New Roman';">&#160;</font></div>
          </td>
          <td style="width: 15%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
            <div style="text-align: center;"><font style="font-family: 'Times New Roman';">$10,001-$50,000</font><font style="font-family: 'Times New Roman';">&#160;</font></div>
          </td>
          <td style="width: 13.53%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
            <div style="text-align: center;"><font style="font-family: 'Times New Roman';">None</font><font style="font-family: 'Times New Roman';">&#160;</font></div>
          </td>
          <td style="width: 14%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
            <div style="text-align: center;"><font style="font-family: 'Times New Roman';">$10,001-</font><font style="font-family: 'Times New Roman';">&#160;</font></div>
          </td>
          <td style="width: 14%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
            <div style="text-align: center;"><font style="font-family: 'Times New Roman';">None</font><font style="font-family: 'Times New Roman';">&#160;</font></div>
          </td>
          <td style="width: 14%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
            <div style="text-align: center;"><font style="font-family: 'Times New Roman';">$50,001-</font><font style="font-family: 'Times New Roman';">&#160;</font></div>
          </td>
          <td style="width: 14%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
            <div style="text-align: center;"><font style="font-family: 'Times New Roman';">Over</font><font style="font-family: 'Times New Roman';">&#160;</font></div>
          </td>
        </tr>
        <tr>
          <td style="width: 15%; vertical-align: bottom; font-family: 'Times New Roman'; background-color: rgb(255, 255, 255);">
            <div>&#160;</div>
          </td>
          <td style="width: 15%; vertical-align: bottom; font-family: 'Times New Roman'; background-color: rgb(255, 255, 255);">
            <div>&#160;</div>
          </td>
          <td style="width: 13.53%; vertical-align: bottom; font-family: 'Times New Roman'; background-color: rgb(255, 255, 255);">
            <div>&#160;</div>
          </td>
          <td style="width: 14%; vertical-align: bottom; background-color: rgb(255, 255, 255);">
            <div style="text-align: center;"><font style="font-family: 'Times New Roman';">$50,000</font><font style="font-family: 'Times New Roman';">&#160;</font></div>
          </td>
          <td style="width: 14%; vertical-align: bottom; font-family: 'Times New Roman'; background-color: rgb(255, 255, 255);">
            <div>&#160;</div>
          </td>
          <td style="width: 14%; vertical-align: bottom; background-color: rgb(255, 255, 255);">
            <div style="text-align: center;"><font style="font-family: 'Times New Roman';">$100,000</font><font style="font-family: 'Times New Roman';">&#160;</font></div>
          </td>
          <td style="width: 14%; vertical-align: bottom; background-color: rgb(255, 255, 255);">
            <div style="text-align: center;"><font style="font-family: 'Times New Roman';">$100,000</font><font style="font-family: 'Times New Roman';">&#160;</font></div>
          </td>
        </tr>
        <tr>
          <td style="width: 15%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
            <div><font style="font-family: 'Times New Roman';">Brock-Kyle</font><font style="font-family: 'Times New Roman';">&#160;</font></div>
          </td>
          <td style="width: 15%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
            <div style="text-align: center;"><font style="font-family: 'Times New Roman';">$10,001-$50,000</font><font style="font-family: 'Times New Roman';">&#160;</font></div>
          </td>
          <td style="width: 13.53%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
            <div style="text-align: center;"><font style="font-family: 'Times New Roman';">None</font><font style="font-family: 'Times New Roman';">&#160;</font></div>
          </td>
          <td style="width: 14%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
            <div style="text-align: center;"><font style="font-family: 'Times New Roman';">None</font><font style="font-family: 'Times New Roman';">&#160;</font></div>
          </td>
          <td style="width: 14%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
            <div style="text-align: center;"><font style="font-family: 'Times New Roman';">None</font><font style="font-family: 'Times New Roman';">&#160;</font></div>
          </td>
          <td style="width: 14%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
            <div style="text-align: center;"><font style="font-family: 'Times New Roman';">None</font><font style="font-family: 'Times New Roman';">&#160;</font></div>
          </td>
          <td style="width: 14%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
            <div style="text-align: center;"><font style="font-family: 'Times New Roman';">Over</font><font style="font-family: 'Times New Roman';"><br>
              </font></div>
          </td>
        </tr>
        <tr>
          <td rowspan="1" style="width: 15%; vertical-align: bottom; background-color: rgb(255, 255, 255);">&#160;</td>
          <td rowspan="1" style="width: 15%; vertical-align: bottom; background-color: rgb(255, 255, 255);">&#160;</td>
          <td rowspan="1" style="width: 13.53%; vertical-align: bottom; background-color: rgb(255, 255, 255);">&#160;</td>
          <td rowspan="1" style="width: 14%; vertical-align: bottom; background-color: rgb(255, 255, 255);">&#160;</td>
          <td rowspan="1" style="width: 14%; vertical-align: bottom; background-color: rgb(255, 255, 255);">&#160;</td>
          <td rowspan="1" style="width: 14%; vertical-align: bottom; background-color: rgb(255, 255, 255);">&#160;</td>
          <td rowspan="1" style="width: 14%; vertical-align: bottom; background-color: rgb(255, 255, 255); text-align: center;"><font style="font-family: 'Times New Roman';">$100,000</font></td>
        </tr>
        <tr>
          <td colspan="7" style="vertical-align: middle; font-family: 'Times New Roman'; background-color: rgb(204, 238, 255);">
            <div>&#160;</div>
          </td>
        </tr>
        <tr>
          <td style="width: 15%; vertical-align: bottom; background-color: rgb(255, 255, 255);">
            <div><font style="font-family: 'Times New Roman';">Chubb</font><font style="font-family: 'Times New Roman';">&#160;</font></div>
          </td>
          <td style="width: 15%; vertical-align: bottom; background-color: rgb(255, 255, 255);">
            <div style="text-align: center;"><font style="font-family: 'Times New Roman';">$1-$10,000</font><font style="font-family: 'Times New Roman';">&#160;</font></div>
          </td>
          <td style="width: 13.53%; vertical-align: bottom; background-color: rgb(255, 255, 255);">
            <div style="text-align: center;"><font style="font-family: 'Times New Roman';">$10,001-</font><font style="font-family: 'Times New Roman';">&#160;</font></div>
          </td>
          <td style="width: 14%; vertical-align: bottom; background-color: rgb(255, 255, 255);">
            <div style="text-align: center;"><font style="font-family: 'Times New Roman';">$1-</font><font style="font-family: 'Times New Roman';">&#160;</font></div>
          </td>
          <td style="width: 14%; vertical-align: bottom; background-color: rgb(255, 255, 255);">
            <div style="text-align: center;"><font style="font-family: 'Times New Roman';">$10,001-</font><font style="font-family: 'Times New Roman';">&#160;</font></div>
          </td>
          <td style="width: 14%; vertical-align: bottom; background-color: rgb(255, 255, 255);">
            <div style="text-align: center;"><font style="font-family: 'Times New Roman';">$10,001-</font><font style="font-family: 'Times New Roman';">&#160;</font></div>
          </td>
          <td style="width: 14%; vertical-align: bottom; background-color: rgb(255, 255, 255);">
            <div style="text-align: center;"><font style="font-family: 'Times New Roman';">Over</font><font style="font-family: 'Times New Roman';">&#160;</font></div>
          </td>
        </tr>
        <tr>
          <td style="width: 15%; vertical-align: bottom; font-family: 'Times New Roman'; background-color: rgb(204, 238, 255);">
            <div>&#160;</div>
          </td>
          <td style="width: 15%; vertical-align: bottom; font-family: 'Times New Roman'; background-color: rgb(204, 238, 255);">
            <div>&#160;</div>
          </td>
          <td style="width: 13.53%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
            <div style="text-align: center;"><font style="font-family: 'Times New Roman';">$50,000</font><font style="font-family: 'Times New Roman';">&#160;</font></div>
          </td>
          <td style="width: 14%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
            <div style="text-align: center;"><font style="font-family: 'Times New Roman';">$10,000</font><font style="font-family: 'Times New Roman';">&#160;</font></div>
          </td>
          <td style="width: 14%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
            <div style="text-align: center;"><font style="font-family: 'Times New Roman';">$50,000</font><font style="font-family: 'Times New Roman';">&#160;</font></div>
          </td>
          <td style="width: 14%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
            <div style="text-align: center;"><font style="font-family: 'Times New Roman';">$50,000</font><font style="font-family: 'Times New Roman';">&#160;</font></div>
          </td>
          <td style="width: 14%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
            <div style="text-align: center;"><font style="font-family: 'Times New Roman';">$100,000</font><font style="font-family: 'Times New Roman';">&#160;</font></div>
          </td>
        </tr>
        <tr>
          <td style="width: 15%; vertical-align: bottom; background-color: rgb(255, 255, 255);">
            <div><font style="font-family: 'Times New Roman';">Farley</font><font style="font-family: 'Times New Roman';">&#160;</font></div>
          </td>
          <td style="width: 15%; vertical-align: bottom; background-color: rgb(255, 255, 255);">
            <div style="text-align: center;"><font style="font-family: 'Times New Roman';">None</font><font style="font-family: 'Times New Roman';">&#160;</font></div>
          </td>
          <td style="width: 13.53%; vertical-align: bottom; background-color: rgb(255, 255, 255);">
            <div style="text-align: center;"><font style="font-family: 'Times New Roman';">None</font><font style="font-family: 'Times New Roman';">&#160;</font></div>
          </td>
          <td style="width: 14%; vertical-align: bottom; background-color: rgb(255, 255, 255);">
            <div style="text-align: center;"><font style="font-family: 'Times New Roman';">None</font><font style="font-family: 'Times New Roman';">&#160;</font></div>
          </td>
          <td style="width: 14%; vertical-align: bottom; background-color: rgb(255, 255, 255);">
            <div style="text-align: center;"><font style="font-family: 'Times New Roman';">None</font><font style="font-family: 'Times New Roman';">&#160;</font></div>
          </td>
          <td style="width: 14%; vertical-align: bottom; background-color: rgb(255, 255, 255);">
            <div style="text-align: center;"><font style="font-family: 'Times New Roman';">None</font><font style="font-family: 'Times New Roman';">&#160;</font></div>
          </td>
          <td style="width: 14%; vertical-align: bottom; background-color: rgb(255, 255, 255);">
            <div style="text-align: center;"><font style="font-family: 'Times New Roman';">Over</font><font style="font-family: 'Times New Roman';">&#160;</font></div>
          </td>
        </tr>
        <tr>
          <td style="width: 15%; vertical-align: bottom; font-family: 'Times New Roman'; background-color: rgb(204, 238, 255);">
            <div>&#160;</div>
          </td>
          <td style="width: 15%; vertical-align: bottom; font-family: 'Times New Roman'; background-color: rgb(204, 238, 255);">
            <div>&#160;</div>
          </td>
          <td style="width: 13.53%; vertical-align: bottom; font-family: 'Times New Roman'; background-color: rgb(204, 238, 255);">
            <div>&#160;</div>
          </td>
          <td style="width: 14%; vertical-align: bottom; font-family: 'Times New Roman'; background-color: rgb(204, 238, 255);">
            <div>&#160;</div>
          </td>
          <td style="width: 14%; vertical-align: bottom; font-family: 'Times New Roman'; background-color: rgb(204, 238, 255);">
            <div>&#160;</div>
          </td>
          <td style="width: 14%; vertical-align: bottom; font-family: 'Times New Roman'; background-color: rgb(204, 238, 255);">
            <div>&#160;</div>
          </td>
          <td style="width: 14%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
            <div style="text-align: center;"><font style="font-family: 'Times New Roman';">$100,000</font><font style="font-family: 'Times New Roman';">&#160;</font></div>
          </td>
        </tr>
        <tr>
          <td style="width: 15%; vertical-align: bottom; background-color: rgb(255, 255, 255);">
            <div><font style="font-family: 'Times New Roman';">Friedrich</font><font style="font-family: 'Times New Roman';">&#160;</font></div>
          </td>
          <td style="width: 15%; vertical-align: bottom; background-color: rgb(255, 255, 255);">
            <div style="text-align: center;"><font style="font-family: 'Times New Roman';">None</font><font style="font-family: 'Times New Roman';">&#160;</font></div>
          </td>
          <td style="width: 13.53%; vertical-align: bottom; background-color: rgb(255, 255, 255);">
            <div style="text-align: center;"><font style="font-family: 'Times New Roman';">None</font><font style="font-family: 'Times New Roman';">&#160;</font></div>
          </td>
          <td style="width: 14%; vertical-align: bottom; background-color: rgb(255, 255, 255);">
            <div style="text-align: center;"><font style="font-family: 'Times New Roman';">$50,001-</font><font style="font-family: 'Times New Roman';">&#160;</font></div>
          </td>
          <td style="width: 14%; vertical-align: bottom; background-color: rgb(255, 255, 255);">
            <div style="text-align: center;"><font style="font-family: 'Times New Roman';">None</font><font style="font-family: 'Times New Roman';">&#160;</font></div>
          </td>
          <td style="width: 14%; vertical-align: bottom; background-color: rgb(255, 255, 255);">
            <div style="text-align: center;"><font style="font-family: 'Times New Roman';">$50,001-</font><font style="font-family: 'Times New Roman';">&#160;</font></div>
          </td>
          <td style="width: 14%; vertical-align: bottom; background-color: rgb(255, 255, 255);">
            <div style="text-align: center;"><font style="font-family: 'Times New Roman';">Over</font><font style="font-family: 'Times New Roman';">&#160;</font></div>
          </td>
        </tr>
        <tr>
          <td style="width: 15%; vertical-align: bottom; font-family: 'Times New Roman'; background-color: rgb(204, 238, 255);">
            <div>&#160;</div>
          </td>
          <td style="width: 15%; vertical-align: bottom; font-family: 'Times New Roman'; background-color: rgb(204, 238, 255);">
            <div>&#160;</div>
          </td>
          <td style="width: 13.53%; vertical-align: bottom; font-family: 'Times New Roman'; background-color: rgb(204, 238, 255);">
            <div>&#160;</div>
          </td>
          <td style="width: 14%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
            <div style="text-align: center;"><font style="font-family: 'Times New Roman';">$100,000</font><font style="font-family: 'Times New Roman';">&#160;</font></div>
          </td>
          <td style="width: 14%; vertical-align: bottom; font-family: 'Times New Roman'; background-color: rgb(204, 238, 255);">
            <div>&#160;</div>
          </td>
          <td style="width: 14%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
            <div style="text-align: center;"><font style="font-family: 'Times New Roman';">$100,000</font><font style="font-family: 'Times New Roman';">&#160;</font></div>
          </td>
          <td style="width: 14%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
            <div style="text-align: center;"><font style="font-family: 'Times New Roman';">$100,000</font><font style="font-family: 'Times New Roman';">&#160;</font></div>
          </td>
        </tr>
        <tr>
          <td style="width: 15%; vertical-align: bottom; background-color: rgb(255, 255, 255);">
            <div><font style="font-family: 'Times New Roman';">Lydon</font><font style="font-family: 'Times New Roman';">&#160;</font></div>
          </td>
          <td style="width: 15%; vertical-align: bottom; background-color: rgb(255, 255, 255);">
            <div style="text-align: center;"><font style="font-family: 'Times New Roman';">$10,001-$50,000</font><font style="font-family: 'Times New Roman';">&#160;</font></div>
          </td>
          <td style="width: 13.53%; vertical-align: bottom; background-color: rgb(255, 255, 255);">
            <div style="text-align: center;"><font style="font-family: 'Times New Roman';">None</font><font style="font-family: 'Times New Roman';">&#160;</font></div>
          </td>
          <td style="width: 14%; vertical-align: bottom; background-color: rgb(255, 255, 255);">
            <div style="text-align: center;"><font style="font-family: 'Times New Roman';">None</font><font style="font-family: 'Times New Roman';">&#160;</font></div>
          </td>
          <td style="width: 14%; vertical-align: bottom; background-color: rgb(255, 255, 255);">
            <div style="text-align: center;"><font style="font-family: 'Times New Roman';">None</font><font style="font-family: 'Times New Roman';">&#160;</font></div>
          </td>
          <td style="width: 14%; vertical-align: bottom; background-color: rgb(255, 255, 255);">
            <div style="text-align: center;"><font style="font-family: 'Times New Roman';">None</font><font style="font-family: 'Times New Roman';">&#160;</font></div>
          </td>
          <td style="width: 14%; vertical-align: bottom; background-color: rgb(255, 255, 255);">
            <div style="text-align: center;"><font style="font-family: 'Times New Roman';">Over</font><font style="font-family: 'Times New Roman';"></font></div>
          </td>
        </tr>
        <tr>
          <td rowspan="1" style="width: 15%; vertical-align: bottom; background-color: rgb(204, 238, 255);">&#160;</td>
          <td rowspan="1" style="width: 15%; vertical-align: bottom; background-color: rgb(204, 238, 255);">&#160;</td>
          <td rowspan="1" style="width: 13.53%; vertical-align: bottom; background-color: rgb(204, 238, 255);">&#160;</td>
          <td rowspan="1" style="width: 14%; vertical-align: bottom; background-color: rgb(204, 238, 255);">&#160;</td>
          <td rowspan="1" style="width: 14%; vertical-align: bottom; background-color: rgb(204, 238, 255);">&#160;</td>
          <td rowspan="1" style="width: 14%; vertical-align: bottom; background-color: rgb(204, 238, 255);">&#160;</td>
          <td rowspan="1" style="width: 14%; vertical-align: bottom; background-color: rgb(204, 238, 255); text-align: center;"><font style="font-family: 'Times New Roman';">$100,000</font><font style="font-family: 'Times New Roman';"><br>
            </font></td>
        </tr>
        <tr>
          <td colspan="7" style="vertical-align: middle; font-family: 'Times New Roman'; background-color: rgb(255, 255, 255);">
            <div>&#160;</div>
          </td>
        </tr>
        <tr>
          <td style="width: 15%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
            <div><font style="font-family: 'Times New Roman';">Nyberg</font><font style="font-family: 'Times New Roman';">&#160;</font></div>
          </td>
          <td style="width: 15%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
            <div style="text-align: center;"><font style="font-family: 'Times New Roman';">$1-$10,000</font><font style="font-family: 'Times New Roman';">&#160;</font></div>
          </td>
          <td style="width: 13.53%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
            <div style="text-align: center;"><font style="font-family: 'Times New Roman';">$10,001-</font><font style="font-family: 'Times New Roman';">&#160;</font></div>
          </td>
          <td style="width: 14%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
            <div style="text-align: center;"><font style="font-family: 'Times New Roman';">$1-</font><font style="font-family: 'Times New Roman';">&#160;</font></div>
          </td>
          <td style="width: 14%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
            <div style="text-align: center;"><font style="font-family: 'Times New Roman';">$10,001-</font><font style="font-family: 'Times New Roman';">&#160;</font></div>
          </td>
          <td style="width: 14%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
            <div style="text-align: center;"><font style="font-family: 'Times New Roman';">$10,001-</font><font style="font-family: 'Times New Roman';">&#160;</font></div>
          </td>
          <td style="width: 14%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
            <div style="text-align: center;"><font style="font-family: 'Times New Roman';">Over</font><font style="font-family: 'Times New Roman';">&#160;</font></div>
          </td>
        </tr>
        <tr>
          <td style="width: 15%; vertical-align: bottom; font-family: 'Times New Roman'; background-color: rgb(255, 255, 255);">
            <div>&#160;</div>
          </td>
          <td style="width: 15%; vertical-align: bottom; font-family: 'Times New Roman'; background-color: rgb(255, 255, 255);">
            <div>&#160;</div>
          </td>
          <td style="width: 13.53%; vertical-align: bottom; background-color: rgb(255, 255, 255);">
            <div style="text-align: center;"><font style="font-family: 'Times New Roman';">$50,000</font><font style="font-family: 'Times New Roman';">&#160;</font></div>
          </td>
          <td style="width: 14%; vertical-align: bottom; background-color: rgb(255, 255, 255);">
            <div style="text-align: center;"><font style="font-family: 'Times New Roman';">$10,000</font><font style="font-family: 'Times New Roman';">&#160;</font></div>
          </td>
          <td style="width: 14%; vertical-align: bottom; background-color: rgb(255, 255, 255);">
            <div style="text-align: center;"><font style="font-family: 'Times New Roman';">$50,000</font><font style="font-family: 'Times New Roman';">&#160;</font></div>
          </td>
          <td style="width: 14%; vertical-align: bottom; background-color: rgb(255, 255, 255);">
            <div style="text-align: center;"><font style="font-family: 'Times New Roman';">$50,000</font><font style="font-family: 'Times New Roman';">&#160;</font></div>
          </td>
          <td style="width: 14%; vertical-align: bottom; background-color: rgb(255, 255, 255);">
            <div style="text-align: center;"><font style="font-family: 'Times New Roman';">$100,000</font><font style="font-family: 'Times New Roman';">&#160;</font></div>
          </td>
        </tr>
        <tr>
          <td style="width: 15%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
            <div><font style="font-family: 'Times New Roman';">Sponem</font><font style="font-family: 'Times New Roman';">&#160;</font></div>
          </td>
          <td style="width: 15%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
            <div style="text-align: center;"><font style="font-family: 'Times New Roman';">$10,001-$50,000</font><font style="font-family: 'Times New Roman';">&#160;</font></div>
          </td>
          <td style="width: 13.53%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
            <div style="text-align: center;"><font style="font-family: 'Times New Roman';">None</font><font style="font-family: 'Times New Roman';">&#160;</font></div>
          </td>
          <td style="width: 14%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
            <div style="text-align: center;"><font style="font-family: 'Times New Roman';">None</font><font style="font-family: 'Times New Roman';">&#160;</font></div>
          </td>
          <td style="width: 14%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
            <div style="text-align: center;"><font style="font-family: 'Times New Roman';">None</font><font style="font-family: 'Times New Roman';">&#160;</font></div>
          </td>
          <td style="width: 14%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
            <div style="text-align: center;"><font style="font-family: 'Times New Roman';">None</font><font style="font-family: 'Times New Roman';">&#160;</font></div>
          </td>
          <td style="width: 14%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
            <div style="text-align: center;"><font style="font-family: 'Times New Roman';">Over</font><font style="font-family: 'Times New Roman';">&#160;</font></div>
          </td>
        </tr>
        <tr>
          <td style="width: 15%; vertical-align: bottom; font-family: 'Times New Roman'; background-color: rgb(255, 255, 255);">
            <div>&#160;</div>
          </td>
          <td style="width: 15%; vertical-align: bottom; font-family: 'Times New Roman'; background-color: rgb(255, 255, 255);">
            <div>&#160;</div>
          </td>
          <td style="width: 13.53%; vertical-align: bottom; font-family: 'Times New Roman'; background-color: rgb(255, 255, 255);">
            <div>&#160;</div>
          </td>
          <td style="width: 14%; vertical-align: bottom; font-family: 'Times New Roman'; background-color: rgb(255, 255, 255);">
            <div>&#160;</div>
          </td>
          <td style="width: 14%; vertical-align: bottom; font-family: 'Times New Roman'; background-color: rgb(255, 255, 255);">
            <div>&#160;</div>
          </td>
          <td style="width: 14%; vertical-align: bottom; font-family: 'Times New Roman'; background-color: rgb(255, 255, 255);">
            <div>&#160;</div>
          </td>
          <td style="width: 14%; vertical-align: bottom; background-color: rgb(255, 255, 255);">
            <div style="text-align: center;"><font style="font-family: 'Times New Roman';">$100,000</font><font style="font-family: 'Times New Roman';">&#160;</font></div>
          </td>
        </tr>
        <tr>
          <td style="width: 15%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
            <div><font style="font-family: 'Times New Roman';">Toupin</font><font style="font-family: 'Times New Roman';">&#160;</font></div>
          </td>
          <td style="width: 15%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
            <div style="text-align: center;"><font style="font-family: 'Times New Roman';">$10,001-$50,000</font><font style="font-family: 'Times New Roman';">&#160;</font></div>
          </td>
          <td style="width: 13.53%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
            <div style="text-align: center;"><font style="font-family: 'Times New Roman';">$50,001-</font><font style="font-family: 'Times New Roman';">&#160;</font></div>
          </td>
          <td style="width: 14%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
            <div style="text-align: center;"><font style="font-family: 'Times New Roman';">$50,001-</font><font style="font-family: 'Times New Roman';">&#160;</font></div>
          </td>
          <td style="width: 14%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
            <div style="text-align: center;"><font style="font-family: 'Times New Roman';">Over</font><font style="font-family: 'Times New Roman';">&#160;</font></div>
          </td>
          <td style="width: 14%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
            <div style="text-align: center;"><font style="font-family: 'Times New Roman';">$50,001-</font><font style="font-family: 'Times New Roman';">&#160;</font></div>
          </td>
          <td style="width: 14%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
            <div style="text-align: center;"><font style="font-family: 'Times New Roman';">Over</font><font style="font-family: 'Times New Roman';">&#160;</font></div>
          </td>
        </tr>
        <tr>
          <td style="width: 15%; vertical-align: bottom; font-family: 'Times New Roman'; background-color: rgb(255, 255, 255);">
            <div>&#160;</div>
          </td>
          <td style="width: 15%; vertical-align: bottom; font-family: 'Times New Roman'; background-color: rgb(255, 255, 255);">
            <div>&#160;</div>
          </td>
          <td style="width: 13.53%; vertical-align: bottom; background-color: rgb(255, 255, 255);">
            <div style="text-align: center;"><font style="font-family: 'Times New Roman';">$100,000</font><font style="font-family: 'Times New Roman';">&#160;</font></div>
          </td>
          <td style="width: 14%; vertical-align: bottom; background-color: rgb(255, 255, 255);">
            <div style="text-align: center;"><font style="font-family: 'Times New Roman';">$100,000</font><font style="font-family: 'Times New Roman';">&#160;</font></div>
          </td>
          <td style="width: 14%; vertical-align: bottom; background-color: rgb(255, 255, 255);">
            <div style="text-align: center;"><font style="font-family: 'Times New Roman';">$100,000</font><font style="font-family: 'Times New Roman';">&#160;</font></div>
          </td>
          <td style="width: 14%; vertical-align: bottom; background-color: rgb(255, 255, 255);">
            <div style="text-align: center;"><font style="font-family: 'Times New Roman';">$100,000</font><font style="font-family: 'Times New Roman';">&#160;</font></div>
          </td>
          <td style="width: 14%; vertical-align: bottom; background-color: rgb(255, 255, 255);">
            <div style="text-align: center;"><font style="font-family: 'Times New Roman';">$100,000</font><font style="font-family: 'Times New Roman';">&#160;</font></div>
          </td>
        </tr>
        <tr>
          <td style="width: 15%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
            <div><font style="font-family: 'Times New Roman'; font-style: italic;">Interested Trustee</font><font style="font-family: 'Times New Roman';">&#160;</font></div>
          </td>
          <td style="width: 15%; vertical-align: bottom; font-family: 'Times New Roman'; background-color: rgb(204, 238, 255);">
            <div>&#160;</div>
          </td>
          <td style="width: 13.53%; vertical-align: bottom; font-family: 'Times New Roman'; background-color: rgb(204, 238, 255);">
            <div>&#160;</div>
          </td>
          <td style="width: 14%; vertical-align: bottom; font-family: 'Times New Roman'; background-color: rgb(204, 238, 255);">
            <div>&#160;</div>
          </td>
          <td style="width: 14%; vertical-align: bottom; font-family: 'Times New Roman'; background-color: rgb(204, 238, 255);">
            <div>&#160;</div>
          </td>
          <td style="width: 14%; vertical-align: bottom; font-family: 'Times New Roman'; background-color: rgb(204, 238, 255);">
            <div>&#160;</div>
          </td>
          <td style="width: 14%; vertical-align: bottom; font-family: 'Times New Roman'; background-color: rgb(204, 238, 255);">
            <div>&#160;</div>
          </td>
        </tr>
        <tr>
          <td style="width: 15%; vertical-align: bottom; background-color: rgb(255, 255, 255);">
            <div><font style="font-family: 'Times New Roman';">Lee</font><font style="font-family: 'Times New Roman';">&#160;</font></div>
          </td>
          <td style="width: 15%; vertical-align: bottom; background-color: rgb(255, 255, 255);">
            <div style="text-align: center;"><font style="font-family: 'Times New Roman';">None</font><font style="font-family: 'Times New Roman';">&#160;</font></div>
          </td>
          <td style="width: 13.53%; vertical-align: bottom; background-color: rgb(255, 255, 255);">
            <div style="text-align: center;"><font style="font-family: 'Times New Roman';">None</font><font style="font-family: 'Times New Roman';">&#160;</font></div>
          </td>
          <td style="width: 14%; vertical-align: bottom; background-color: rgb(255, 255, 255);">
            <div style="text-align: center;"><font style="font-family: 'Times New Roman';">None</font><font style="font-family: 'Times New Roman';">&#160;</font></div>
          </td>
          <td style="width: 14%; vertical-align: bottom; background-color: rgb(255, 255, 255);">
            <div style="text-align: center;"><font style="font-family: 'Times New Roman';">None</font><font style="font-family: 'Times New Roman';">&#160;</font></div>
          </td>
          <td style="width: 14%; vertical-align: bottom; background-color: rgb(255, 255, 255);">
            <div style="text-align: center;"><font style="font-family: 'Times New Roman';">None</font><font style="font-family: 'Times New Roman';">&#160;</font></div>
          </td>
          <td style="width: 14%; vertical-align: bottom; background-color: rgb(255, 255, 255);">
            <div style="text-align: center;"><font style="font-family: 'Times New Roman';">Over</font><font style="font-family: 'Times New Roman';">&#160;</font></div>
          </td>
        </tr>
        <tr>
          <td style="width: 15%; vertical-align: bottom; font-family: 'Times New Roman'; background-color: rgb(204, 238, 255);">
            <div>&#160;</div>
          </td>
          <td style="width: 15%; vertical-align: bottom; font-family: 'Times New Roman'; background-color: rgb(204, 238, 255);">
            <div>&#160;</div>
          </td>
          <td style="width: 13.53%; vertical-align: bottom; font-family: 'Times New Roman'; background-color: rgb(204, 238, 255);">
            <div>&#160;</div>
          </td>
          <td style="width: 14%; vertical-align: bottom; font-family: 'Times New Roman'; background-color: rgb(204, 238, 255);">
            <div>&#160;</div>
          </td>
          <td style="width: 14%; vertical-align: bottom; font-family: 'Times New Roman'; background-color: rgb(204, 238, 255);">
            <div>&#160;</div>
          </td>
          <td style="width: 14%; vertical-align: bottom; font-family: 'Times New Roman'; background-color: rgb(204, 238, 255);">
            <div>&#160;</div>
          </td>
          <td style="width: 14%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
            <div style="text-align: center;"><font style="font-family: 'Times New Roman';">$100,000</font><font style="font-family: 'Times New Roman';">&#160;</font></div>
          </td>
        </tr>

    </table>
    <div style="margin-bottom: 6pt;">&#160;</div>
    <div style="margin-bottom: 6pt;">&#160;&#160;&#160;&#160;&#160;As of December 31, 2019, each Trustee, officer and the Trustees and officers of the Fund as a group owned less than 1% of the outstanding Shares of each Fund.</div>
    <div style="margin-bottom: 6pt; font-weight: bold;">Trustee Compensation</div>
    <div style="margin-bottom: 6pt;">&#160;&#160;&#160;&#160;&#160;The Independent Trustees receive from the Fund Complex a general annual retainer for service on covered boards. Additional annual retainer fees are paid to: the Independent Chair of the Board; the Chair (and Vice
      Chair, if any) of each of the Audit Committee, the Contracts Review Committee, and the Nominating and Governance Committee; and each member of the Valuation Oversight Committee. In addition, fees are paid for special Board or Committee meetings,
      whether telephonic or in-person. No per meeting fee applies to meetings of the Valuation Oversight Committee. The Funds also reimburse each Independent Trustee for reasonable travel and other out-of-pocket expenses incurred in attending in-person
      meetings, which are not included in the compensation amounts shown below. Each Fund pays proportionately its respective share of Independent Trustees&#8217; fees and expenses based on relative net assets. The following table sets forth the compensation
      paid to each Independent Trustee by each Fund during its most recently completed fiscal year and the total compensation paid to each Independent Trustee by the Fund Complex during the most recently completed calendar year ended December 31, 2019.</div>
    <div style="text-align: center; margin-bottom: 6pt;">23</div>
    <div id="DSPFPageBreakArea" style="clear: both; margin-top: 10pt; margin-bottom: 10pt;">
      <div id="DSPFPageBreak" style="page-break-after: always;">
        <hr noshade="noshade" style="border-width: 0px; clear: both; margin: 4px 0px; width: 100%; height: 2px; color: #000000; background-color: #000000;"></div>
    </div>
    <br>
    <div style="margin-bottom: 6pt;"><br>
    </div>
    <table cellspacing="0" cellpadding="0" border="0" style="font-family: Arial; font-size: 10pt; width: 100%; border-collapse: collapse; text-align: left; color: #000000;" id="z0f493489ef7f400b83489722bdaa5623">

        <tr>
          <td style="width: 28%; vertical-align: middle; font-family: 'Times New Roman';">&#160;</td>
          <td style="width: 18%; vertical-align: middle; font-family: 'Times New Roman';">&#160;</td>
          <td style="width: 17.51%; vertical-align: middle; font-family: 'Times New Roman';">&#160;</td>
          <td style="width: 18%; vertical-align: middle; font-family: 'Times New Roman';">&#160;</td>
          <td style="width: 17.51%; vertical-align: middle; font-family: 'Times New Roman';">&#160;</td>
        </tr>
        <tr>
          <td style="width: 28%; vertical-align: bottom; font-family: 'Times New Roman';">
            <div>&#160;</div>
          </td>
          <td style="width: 18%; vertical-align: bottom; font-family: 'Times New Roman';">
            <div>&#160;</div>
          </td>
          <td style="width: 17.51%; vertical-align: bottom;">
            <div style="text-align: center;"><font style="font-family: 'Times New Roman'; font-weight: bold;">Retirement</font><font style="font-family: 'Times New Roman';">&#160;</font></div>
          </td>
          <td style="width: 18%; vertical-align: bottom; font-family: 'Times New Roman';">
            <div style="text-align: center;">&#160;</div>
          </td>
          <td style="width: 17.51%; vertical-align: bottom; font-family: 'Times New Roman';">
            <div>&#160;</div>
          </td>
        </tr>
        <tr>
          <td style="width: 28%; vertical-align: bottom; font-family: 'Times New Roman';">
            <div>&#160;</div>
          </td>
          <td style="width: 18%; vertical-align: bottom; font-family: 'Times New Roman';">
            <div>&#160;</div>
          </td>
          <td style="width: 17.51%; vertical-align: bottom;">
            <div style="text-align: center;"><font style="font-family: 'Times New Roman'; font-weight: bold;">Benefits</font><font style="font-family: 'Times New Roman';">&#160;</font></div>
          </td>
          <td style="width: 18%; vertical-align: bottom;">
            <div style="text-align: center;"><font style="font-family: 'Times New Roman'; font-weight: bold;">Estimated</font><font style="font-family: 'Times New Roman';">&#160;</font></div>
          </td>
          <td style="width: 17.51%; vertical-align: bottom;">
            <div style="text-align: center;"><font style="font-family: 'Times New Roman'; font-weight: bold;">Total</font><font style="font-family: 'Times New Roman';">&#160;</font></div>
          </td>
        </tr>
        <tr>
          <td style="width: 28%; vertical-align: bottom; font-family: 'Times New Roman';">
            <div>&#160;</div>
          </td>
          <td style="width: 18%; vertical-align: bottom;">
            <div style="text-align: center;"><font style="font-family: 'Times New Roman'; font-weight: bold;">Aggregate</font><font style="font-family: 'Times New Roman';">&#160;</font></div>
          </td>
          <td style="width: 17.51%; vertical-align: bottom;">
            <div style="text-align: center;"><font style="font-family: 'Times New Roman'; font-weight: bold;">Accrued</font><font style="font-family: 'Times New Roman';">&#160;</font></div>
          </td>
          <td style="width: 18%; vertical-align: bottom;">
            <div style="text-align: center;"><font style="font-family: 'Times New Roman'; font-weight: bold;">Annual</font><font style="font-family: 'Times New Roman';">&#160;</font></div>
          </td>
          <td style="width: 17.51%; vertical-align: bottom;">
            <div style="text-align: center;"><font style="font-family: 'Times New Roman'; font-weight: bold;">Compensation</font><font style="font-family: 'Times New Roman';">&#160;</font></div>
          </td>
        </tr>
        <tr>
          <td style="width: 28%; vertical-align: bottom; font-family: 'Times New Roman';">
            <div>&#160;</div>
          </td>
          <td style="width: 18%; vertical-align: bottom;">
            <div style="text-align: center;"><font style="font-family: 'Times New Roman'; font-weight: bold;">Compensation</font><font style="font-family: 'Times New Roman';">&#160;</font></div>
          </td>
          <td style="width: 17.51%; vertical-align: bottom;">
            <div style="text-align: center;"><font style="font-family: 'Times New Roman'; font-weight: bold;">as Part</font><font style="font-family: 'Times New Roman';">&#160;</font></div>
          </td>
          <td style="width: 18%; vertical-align: bottom;">
            <div style="text-align: center;"><font style="font-family: 'Times New Roman'; font-weight: bold;">Benefits</font><font style="font-family: 'Times New Roman';">&#160;</font></div>
          </td>
          <td style="width: 17.51%; vertical-align: bottom;">
            <div style="text-align: center;"><font style="font-family: 'Times New Roman'; font-weight: bold;">From</font><font style="font-family: 'Times New Roman';">&#160;</font></div>
          </td>
        </tr>
        <tr>
          <td style="width: 28%; vertical-align: bottom; font-family: 'Times New Roman';">
            <div>&#160;</div>
          </td>
          <td style="width: 18%; vertical-align: bottom;">
            <div style="text-align: center;"><font style="font-family: 'Times New Roman'; font-weight: bold;">from each</font><font style="font-family: 'Times New Roman';">&#160;</font></div>
          </td>
          <td style="width: 17.51%; vertical-align: bottom;">
            <div style="text-align: center;"><font style="font-family: 'Times New Roman'; font-weight: bold;">of Fund</font><font style="font-family: 'Times New Roman';">&#160;</font></div>
          </td>
          <td style="width: 18%; vertical-align: bottom;">
            <div style="text-align: center;"><font style="font-family: 'Times New Roman'; font-weight: bold;">Upon</font><font style="font-family: 'Times New Roman';">&#160;</font></div>
          </td>
          <td style="width: 17.51%; vertical-align: bottom;">
            <div style="text-align: center;"><font style="font-family: 'Times New Roman'; font-weight: bold;">the Fund</font><font style="font-family: 'Times New Roman';">&#160;</font></div>
          </td>
        </tr>
        <tr>
          <td style="width: 28%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0);">
            <div><font style="font-family: 'Times New Roman'; font-weight: bold;">Trustee</font><font style="font-family: 'Times New Roman';">&#160;</font></div>
          </td>
          <td style="width: 18%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0);">
            <div style="text-align: center;"><font style="font-family: 'Times New Roman'; font-weight: bold;">Fund</font><font style="font-family: 'Times New Roman';">&#160;</font></div>
          </td>
          <td style="width: 17.51%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0);">
            <div style="text-align: center;"><font style="font-family: 'Times New Roman'; font-weight: bold;">Expenses</font><font style="font-family: 'Times New Roman';"><sup style="font-weight: bold; vertical-align: text-top; line-height: 1; font-size: smaller;">(1)</sup>&#160;</font></div>
          </td>
          <td style="width: 18%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0);">
            <div style="text-align: center;"><font style="font-family: 'Times New Roman'; font-weight: bold;">Retirement</font><font style="font-family: 'Times New Roman';"><sup style="font-weight: bold; vertical-align: text-top; line-height: 1; font-size: smaller;">(1)</sup>&#160;</font></div>
          </td>
          <td style="width: 17.51%; vertical-align: bottom; border-bottom: #000000 2px solid;">
            <div style="text-align: center;"><font style="font-family: 'Times New Roman'; font-weight: bold;">Complex</font><font style="font-family: 'Times New Roman';"><sup style="font-weight: bold; vertical-align: text-top; line-height: 1; font-size: smaller;">(2)</sup>&#160;</font></div>
          </td>
        </tr>
        <tr>
          <td style="width: 28%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
            <div><font style="font-family: 'Times New Roman';">Randall C. Barnes</font><font style="font-family: 'Times New Roman';">&#160;</font></div>
          </td>
          <td style="width: 18%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
            <div style="text-align: center;"><font style="font-family: 'Times New Roman';">&#8224;</font><font style="font-family: 'Times New Roman';">&#160;</font></div>
          </td>
          <td style="width: 17.51%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
            <div style="text-align: center;"><font style="font-family: 'Times New Roman';">None</font><font style="font-family: 'Times New Roman';">&#160;</font></div>
          </td>
          <td style="width: 18%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
            <div style="text-align: center;"><font style="font-family: 'Times New Roman';">None</font><font style="font-family: 'Times New Roman';">&#160;</font></div>
          </td>
          <td style="width: 17.51%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
            <div style="text-align: center;"><font style="font-family: 'Times New Roman';">$338,250</font><font style="font-family: 'Times New Roman';">&#160;</font></div>
          </td>
        </tr>
        <tr>
          <td style="width: 28%; vertical-align: bottom; background-color: rgb(255, 255, 255);">
            <div><font style="font-family: 'Times New Roman';">Angela Brock-Kyle</font><font style="font-family: 'Times New Roman';">&#160;</font></div>
          </td>
          <td style="width: 18%; vertical-align: bottom; background-color: rgb(255, 255, 255);">
            <div style="text-align: center;"><font style="font-family: 'Times New Roman';">&#8224;</font><font style="font-family: 'Times New Roman';">&#160;</font></div>
          </td>
          <td style="width: 17.51%; vertical-align: bottom; background-color: rgb(255, 255, 255);">
            <div style="text-align: center;"><font style="font-family: 'Times New Roman';">None</font><font style="font-family: 'Times New Roman';">&#160;</font></div>
          </td>
          <td style="width: 18%; vertical-align: bottom; background-color: rgb(255, 255, 255);">
            <div style="text-align: center;"><font style="font-family: 'Times New Roman';">None</font><font style="font-family: 'Times New Roman';">&#160;</font></div>
          </td>
          <td style="width: 17.51%; vertical-align: bottom; background-color: rgb(255, 255, 255);">
            <div style="text-align: center;"><font style="font-family: 'Times New Roman';">$225,000</font><font style="font-family: 'Times New Roman';">&#160;</font></div>
          </td>
        </tr>
        <tr>
          <td style="width: 28%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
            <div><font style="font-family: 'Times New Roman';">Donald A. Chubb, Jr.</font><font style="font-family: 'Times New Roman';"> <br>
              </font></div>
          </td>
          <td style="width: 18%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
            <div style="text-align: center;"><font style="font-family: 'Times New Roman';">&#8224;</font><font style="font-family: 'Times New Roman';">&#160;</font></div>
          </td>
          <td style="width: 17.51%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
            <div style="text-align: center;"><font style="font-family: 'Times New Roman';">None</font><font style="font-family: 'Times New Roman';">&#160;</font></div>
          </td>
          <td style="width: 18%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
            <div style="text-align: center;"><font style="font-family: 'Times New Roman';">None</font><font style="font-family: 'Times New Roman';">&#160;</font></div>
          </td>
          <td style="width: 17.51%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
            <div style="text-align: center;"><font style="font-family: 'Times New Roman';">$256,000</font><font style="font-family: 'Times New Roman';">&#160;</font></div>
          </td>
        </tr>
        <tr>
          <td style="width: 28%; vertical-align: bottom; background-color: rgb(255, 255, 255);">
            <div><font style="font-family: 'Times New Roman';">Jerry B. Farley</font><font style="font-family: 'Times New Roman';">&#160;</font></div>
          </td>
          <td style="width: 18%; vertical-align: bottom; background-color: rgb(255, 255, 255);">
            <div style="text-align: center;"><font style="font-family: 'Times New Roman';">&#8224;</font><font style="font-family: 'Times New Roman';">&#160;</font></div>
          </td>
          <td style="width: 17.51%; vertical-align: bottom; background-color: rgb(255, 255, 255);">
            <div style="text-align: center;"><font style="font-family: 'Times New Roman';">None</font><font style="font-family: 'Times New Roman';">&#160;</font></div>
          </td>
          <td style="width: 18%; vertical-align: bottom; background-color: rgb(255, 255, 255);">
            <div style="text-align: center;"><font style="font-family: 'Times New Roman';">None</font><font style="font-family: 'Times New Roman';">&#160;</font></div>
          </td>
          <td style="width: 17.51%; vertical-align: bottom; background-color: rgb(255, 255, 255);">
            <div style="text-align: center;"><font style="font-family: 'Times New Roman';">$276,000</font><font style="font-family: 'Times New Roman';">&#160;</font></div>
          </td>
        </tr>
        <tr>
          <td style="width: 28%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
            <div><font style="font-family: 'Times New Roman';">Roman Friedrich III</font><font style="font-family: 'Times New Roman';">&#160;</font></div>
          </td>
          <td style="width: 18%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
            <div style="text-align: center;"><font style="font-family: 'Times New Roman';">&#8224;</font><font style="font-family: 'Times New Roman';">&#160;</font></div>
          </td>
          <td style="width: 17.51%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
            <div style="text-align: center;"><font style="font-family: 'Times New Roman';">None</font><font style="font-family: 'Times New Roman';">&#160;</font></div>
          </td>
          <td style="width: 18%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
            <div style="text-align: center;"><font style="font-family: 'Times New Roman';">None</font><font style="font-family: 'Times New Roman';">&#160;</font></div>
          </td>
          <td style="width: 17.51%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
            <div style="text-align: center;"><font style="font-family: 'Times New Roman';">$266,000</font><font style="font-family: 'Times New Roman';">&#160;</font></div>
          </td>
        </tr>
        <tr>
          <td style="width: 28%; vertical-align: bottom; background-color: rgb(255, 255, 255);">
            <div><font style="font-family: 'Times New Roman';">Thomas F. Lydon, Jr</font><font style="font-family: 'Times New Roman';">&#160;</font></div>
          </td>
          <td style="width: 18%; vertical-align: bottom; background-color: rgb(255, 255, 255);">
            <div style="text-align: center;"><font style="font-family: 'Times New Roman';">&#8224;</font><font style="font-family: 'Times New Roman';">&#160;</font></div>
          </td>
          <td style="width: 17.51%; vertical-align: bottom; background-color: rgb(255, 255, 255);">
            <div style="text-align: center;"><font style="font-family: 'Times New Roman';">None</font><font style="font-family: 'Times New Roman';">&#160;</font></div>
          </td>
          <td style="width: 18%; vertical-align: bottom; background-color: rgb(255, 255, 255);">
            <div style="text-align: center;"><font style="font-family: 'Times New Roman';">None</font><font style="font-family: 'Times New Roman';">&#160;</font></div>
          </td>
          <td style="width: 17.51%; vertical-align: bottom; background-color: rgb(255, 255, 255);">
            <div style="text-align: center;"><font style="font-family: 'Times New Roman';">$234,000</font><font style="font-family: 'Times New Roman';">&#160;</font></div>
          </td>
        </tr>
        <tr>
          <td style="width: 28%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
            <div><font style="font-family: 'Times New Roman';">Ronald A. Nyberg</font><font style="font-family: 'Times New Roman';">&#160;</font></div>
          </td>
          <td style="width: 18%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
            <div style="text-align: center;"><font style="font-family: 'Times New Roman';">&#8224;</font><font style="font-family: 'Times New Roman';">&#160;</font></div>
          </td>
          <td style="width: 17.51%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
            <div style="text-align: center;"><font style="font-family: 'Times New Roman';">None</font><font style="font-family: 'Times New Roman';">&#160;</font></div>
          </td>
          <td style="width: 18%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
            <div style="text-align: center;"><font style="font-family: 'Times New Roman';">None</font><font style="font-family: 'Times New Roman';">&#160;</font></div>
          </td>
          <td style="width: 17.51%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
            <div style="text-align: center;"><font style="font-family: 'Times New Roman';">$341,750</font><font style="font-family: 'Times New Roman';">&#160;</font></div>
          </td>
        </tr>
        <tr>
          <td style="width: 28%; vertical-align: bottom; background-color: rgb(255, 255, 255);">
            <div><font style="font-family: 'Times New Roman';">Maynard F. Oliverius</font><font style="font-family: 'Times New Roman';"><sup style="vertical-align: text-top; line-height: 1; font-size: smaller;">(3)</sup>&#160;</font></div>
          </td>
          <td style="width: 18%; vertical-align: bottom; background-color: rgb(255, 255, 255);">
            <div style="text-align: center;"><font style="font-family: 'Times New Roman';">&#8224;</font><font style="font-family: 'Times New Roman';">&#160;</font></div>
          </td>
          <td style="width: 17.51%; vertical-align: bottom; background-color: rgb(255, 255, 255);">
            <div style="text-align: center;"><font style="font-family: 'Times New Roman';">None</font><font style="font-family: 'Times New Roman';">&#160;</font></div>
          </td>
          <td style="width: 18%; vertical-align: bottom; background-color: rgb(255, 255, 255);">
            <div style="text-align: center;"><font style="font-family: 'Times New Roman';">None</font><font style="font-family: 'Times New Roman';">&#160;</font></div>
          </td>
          <td style="width: 17.51%; vertical-align: bottom; background-color: rgb(255, 255, 255);">
            <div style="text-align: center;"><font style="font-family: 'Times New Roman';">$125,000</font><font style="font-family: 'Times New Roman';">&#160;</font></div>
          </td>
        </tr>
        <tr>
          <td style="width: 28%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
            <div><font style="font-family: 'Times New Roman';">Sandra G. Sponem</font><font style="font-family: 'Times New Roman';">&#160;</font></div>
          </td>
          <td style="width: 18%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
            <div style="text-align: center;"><font style="font-family: 'Times New Roman';">&#8224;</font><font style="font-family: 'Times New Roman';">&#160;</font></div>
          </td>
          <td style="width: 17.51%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
            <div style="text-align: center;"><font style="font-family: 'Times New Roman';">None</font><font style="font-family: 'Times New Roman';">&#160;</font></div>
          </td>
          <td style="width: 18%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
            <div style="text-align: center;"><font style="font-family: 'Times New Roman';">None</font><font style="font-family: 'Times New Roman';">&#160;</font></div>
          </td>
          <td style="width: 17.51%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
            <div style="text-align: center;"><font style="font-family: 'Times New Roman';">$279,000</font><font style="font-family: 'Times New Roman';">&#160;</font></div>
          </td>
        </tr>
        <tr>
          <td style="width: 28%; vertical-align: bottom; background-color: rgb(255, 255, 255);">
            <div><font style="font-family: 'Times New Roman';">Ronald E. Toupin, Jr</font><font style="font-family: 'Times New Roman';">&#160;</font></div>
          </td>
          <td style="width: 18%; vertical-align: bottom; background-color: rgb(255, 255, 255);">
            <div style="text-align: center;"><font style="font-family: 'Times New Roman';">&#8224;</font><font style="font-family: 'Times New Roman';">&#160;</font></div>
          </td>
          <td style="width: 17.51%; vertical-align: bottom; background-color: rgb(255, 255, 255);">
            <div style="text-align: center;"><font style="font-family: 'Times New Roman';">None</font><font style="font-family: 'Times New Roman';">&#160;</font></div>
          </td>
          <td style="width: 18%; vertical-align: bottom; background-color: rgb(255, 255, 255);">
            <div style="text-align: center;"><font style="font-family: 'Times New Roman';">None</font><font style="font-family: 'Times New Roman';">&#160;</font></div>
          </td>
          <td style="width: 17.51%; vertical-align: bottom; background-color: rgb(255, 255, 255);">
            <div style="text-align: center;"><font style="font-family: 'Times New Roman';">$331,000</font><font style="font-family: 'Times New Roman';">&#160;</font></div>
          </td>
        </tr>

    </table>
    <div style="margin-bottom: 6pt;">&#160;
      <hr align="left" style="height: 2px; width: 10%; color: #000000; background-color: #000000; margin-left: 0px; margin-right: auto; border: none;"></div>
    <table cellspacing="0" cellpadding="0" style="font-family: Arial; font-size: 10pt; width: 100%; border-collapse: collapse; text-align: left; color: #000000;" id="z29aa3c94d81b4caca583066c7b58f303">

        <tr>
          <td style="width: 2.83%; vertical-align: top; font-family: 'Times New Roman';">
            <div><sup style="vertical-align: text-top; line-height: 1; font-size: smaller;">(1)&#160;</sup></div>
          </td>
          <td style="width: 97.17%; vertical-align: bottom;">
            <div style="text-indent: 0.05pt;"><font style="font-family: 'Times New Roman';">The Funds do not accrue or pay retirement or pension benefits to Trustees as of the date hereof.</font><font style="font-family: 'Times New Roman';">&#160;</font></div>
          </td>
        </tr>
        <tr>
          <td style="width: 2.83%; vertical-align: top; font-family: 'Times New Roman';">
            <div><sup style="vertical-align: text-top; line-height: 1; font-size: smaller;">(2)&#160;</sup></div>
          </td>
          <td colspan="1" style="width: 97.17%; vertical-align: bottom;">
            <div><font style="font-family: 'Times New Roman';">The amounts shown in this column represent the aggregate compensation paid by all of the funds in</font><font style="font-family: 'Times New Roman';"> </font><font style="font-family: 'Times New Roman';">the Fund Complex for the calendar year ended December 31, 2019. Because the funds in the Fund</font><font style="font-family: 'Times New Roman';"> </font><font style="font-family: 'Times New Roman';">Complex have different
                fiscal year ends, the amounts shown in this column are presented on a</font><font style="font-family: 'Times New Roman';"> </font><font style="font-family: 'Times New Roman';">calendar year basis.</font><font style="font-family: 'Times New Roman';">&#160;</font></div>
          </td>
        </tr>
        <tr>
          <td style="width: 2.83%; vertical-align: top; font-family: 'Times New Roman';">
            <div><sup style="vertical-align: text-top; line-height: 1; font-size: smaller;">(3)&#160;</sup></div>
          </td>
          <td colspan="1" style="width: 97.17%; vertical-align: bottom;">
            <div><font style="font-family: 'Times New Roman';">The amounts shown in this row represent the payments made to Mr. Oliverius up until his retirement</font><font style="font-family: 'Times New Roman';"> </font><font style="font-family: 'Times New Roman';">from the Board effective April 4, 2019.</font><font style="font-family: 'Times New Roman';">&#160;</font></div>
          </td>
        </tr>
        <tr>
          <td style="width: 2.83%; vertical-align: top; font-family: 'Times New Roman';">
            <div>&#8224;&#160;</div>
          </td>
          <td colspan="1" style="width: 97.17%; vertical-align: bottom;">
            <div><font style="font-family: 'Times New Roman';">The amount of aggregate compensation payable by each Fund for the calendar year ended</font><font style="font-family: 'Times New Roman';"> </font><font style="font-family: 'Times New Roman';">December&#160;31,




                2019 is shown in the table below:</font><font style="font-family: 'Times New Roman';">&#160;</font></div>
          </td>
        </tr>

    </table>
    <div style="margin-bottom: 6pt;">&#160;</div>
    <table cellspacing="0" cellpadding="0" border="0" style="font-family: Arial; font-size: 10pt; width: 100%; border-collapse: collapse; text-align: left; color: #000000;" id="z5cc61776a24d4d119ecd6130612f46d0">

        <tr>
          <td style="width: 30%; vertical-align: middle; font-family: 'Times New Roman';">&#160;</td>
          <td style="width: 14%; vertical-align: middle; font-family: 'Times New Roman';">&#160;</td>
          <td style="width: 14%; vertical-align: middle; font-family: 'Times New Roman';">&#160;</td>
          <td style="width: 14.45%; vertical-align: middle; font-family: 'Times New Roman';">&#160;</td>
          <td style="width: 14%; vertical-align: middle; font-family: 'Times New Roman';">&#160;</td>
          <td style="width: 14%; vertical-align: middle; font-family: 'Times New Roman';">&#160;</td>
        </tr>
        <tr>
          <td style="width: 30%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0); font-family: 'Times New Roman';">
            <div>&#160;</div>
          </td>
          <td style="width: 14%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0);">
            <div style="text-align: center;"><font style="font-family: 'Times New Roman'; font-weight: bold;">FMO</font><font style="font-family: 'Times New Roman';">&#160;</font></div>
          </td>
          <td style="width: 14%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0);">
            <div style="text-align: center;"><font style="font-family: 'Times New Roman'; font-weight: bold;">GBAB</font><font style="font-family: 'Times New Roman';">&#160;</font></div>
          </td>
          <td style="width: 14.45%; vertical-align: bottom; border-bottom: #000000 2px solid;">
            <div style="text-align: center;"><font style="font-family: 'Times New Roman'; font-weight: bold;">GGM</font><font style="font-family: 'Times New Roman';">&#160;</font></div>
          </td>
          <td style="width: 14%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0);">
            <div style="text-align: center;"><font style="font-family: 'Times New Roman'; font-weight: bold;">GPM</font><font style="font-family: 'Times New Roman';">&#160;</font></div>
          </td>
          <td style="width: 14%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0);">
            <div style="text-align: center;"><font style="font-family: 'Times New Roman'; font-weight: bold;">GOF</font><font style="font-family: 'Times New Roman';">&#160;</font></div>
          </td>
        </tr>
        <tr>
          <td style="width: 30%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
            <div><font style="font-family: 'Times New Roman'; font-style: italic;">Independent Trustees</font><font style="font-family: 'Times New Roman';">&#160;</font></div>
          </td>
          <td style="width: 14%; vertical-align: bottom; font-family: 'Times New Roman'; background-color: rgb(204, 238, 255);">
            <div>&#160;</div>
          </td>
          <td style="width: 14%; vertical-align: bottom; font-family: 'Times New Roman'; background-color: rgb(204, 238, 255);">
            <div>&#160;</div>
          </td>
          <td style="width: 14.45%; vertical-align: bottom; font-family: 'Times New Roman'; background-color: rgb(204, 238, 255);">
            <div>&#160;</div>
          </td>
          <td style="width: 14%; vertical-align: bottom; font-family: 'Times New Roman'; background-color: rgb(204, 238, 255);">
            <div>&#160;</div>
          </td>
          <td style="width: 14%; vertical-align: bottom; font-family: 'Times New Roman'; background-color: rgb(204, 238, 255);">
            <div>&#160;</div>
          </td>
        </tr>
        <tr>
          <td style="width: 30%; vertical-align: bottom; background-color: rgb(255, 255, 255);">
            <div><font style="font-family: 'Times New Roman';">Barnes</font><font style="font-family: 'Times New Roman';">&#160;</font></div>
          </td>
          <td style="width: 14%; vertical-align: bottom; background-color: rgb(255, 255, 255);">
            <div style="text-align: center;"><font style="font-family: 'Times New Roman';">$11,201</font><font style="font-family: 'Times New Roman';">&#160;</font></div>
          </td>
          <td style="width: 14%; vertical-align: bottom; background-color: rgb(255, 255, 255);">
            <div style="text-align: center;"><font style="font-family: 'Times New Roman';">$11,674</font><font style="font-family: 'Times New Roman';">&#160;</font></div>
          </td>
          <td style="width: 14.45%; vertical-align: bottom; background-color: rgb(255, 255, 255);">
            <div style="text-align: center;"><font style="font-family: 'Times New Roman';">$7,700</font><font style="font-family: 'Times New Roman';">&#160;</font></div>
          </td>
          <td style="width: 14%; vertical-align: bottom; background-color: rgb(255, 255, 255);">
            <div style="text-align: center;"><font style="font-family: 'Times New Roman';">$11,400</font><font style="font-family: 'Times New Roman';">&#160;</font></div>
          </td>
          <td style="width: 14%; vertical-align: bottom; background-color: rgb(255, 255, 255);">
            <div style="text-align: center;"><font style="font-family: 'Times New Roman';">$15,433</font><font style="font-family: 'Times New Roman';">&#160;</font></div>
          </td>
        </tr>
        <tr>
          <td style="width: 30%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
            <div><font style="font-family: 'Times New Roman';">Brock-Kyle</font><font style="font-family: 'Times New Roman';">&#160;</font></div>
          </td>
          <td style="width: 14%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
            <div style="text-align: center;"><font style="font-family: 'Times New Roman';">None</font><font style="font-family: 'Times New Roman';">&#160;</font></div>
          </td>
          <td style="width: 14%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
            <div style="text-align: center;"><font style="font-family: 'Times New Roman';">None</font><font style="font-family: 'Times New Roman';">&#160;</font></div>
          </td>
          <td style="width: 14.45%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
            <div style="text-align: center;"><font style="font-family: 'Times New Roman';">None</font><font style="font-family: 'Times New Roman';">&#160;</font></div>
          </td>
          <td style="width: 14%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
            <div style="text-align: center;"><font style="font-family: 'Times New Roman';">None</font><font style="font-family: 'Times New Roman';">&#160;</font></div>
          </td>
          <td style="width: 14%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
            <div style="text-align: center;"><font style="font-family: 'Times New Roman';">None</font><font style="font-family: 'Times New Roman';">&#160;</font></div>
          </td>
        </tr>
        <tr>
          <td style="width: 30%; vertical-align: bottom; background-color: rgb(255, 255, 255);">
            <div><font style="font-family: 'Times New Roman';">Chubb</font><font style="font-family: 'Times New Roman';">&#160;</font></div>
          </td>
          <td style="width: 14%; vertical-align: bottom; background-color: rgb(255, 255, 255);">
            <div style="text-align: center;"><font style="font-family: 'Times New Roman';">$11,201</font><font style="font-family: 'Times New Roman';">&#160;</font></div>
          </td>
          <td style="width: 14%; vertical-align: bottom; background-color: rgb(255, 255, 255);">
            <div style="text-align: center;"><font style="font-family: 'Times New Roman';">$11,674</font><font style="font-family: 'Times New Roman';">&#160;</font></div>
          </td>
          <td style="width: 14.45%; vertical-align: bottom; background-color: rgb(255, 255, 255);">
            <div style="text-align: center;"><font style="font-family: 'Times New Roman';">$7,700</font><font style="font-family: 'Times New Roman';">&#160;</font></div>
          </td>
          <td style="width: 14%; vertical-align: bottom; background-color: rgb(255, 255, 255);">
            <div style="text-align: center;"><font style="font-family: 'Times New Roman';">$11,400</font><font style="font-family: 'Times New Roman';">&#160;</font></div>
          </td>
          <td style="width: 14%; vertical-align: bottom; background-color: rgb(255, 255, 255);">
            <div style="text-align: center;"><font style="font-family: 'Times New Roman';">$15,433</font><font style="font-family: 'Times New Roman';">&#160;</font></div>
          </td>
        </tr>
        <tr>
          <td style="width: 30%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
            <div><font style="font-family: 'Times New Roman';">Farley</font><font style="font-family: 'Times New Roman';">&#160;</font></div>
          </td>
          <td style="width: 14%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
            <div style="text-align: center;"><font style="font-family: 'Times New Roman';">$12,080</font><font style="font-family: 'Times New Roman';">&#160;</font></div>
          </td>
          <td style="width: 14%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
            <div style="text-align: center;"><font style="font-family: 'Times New Roman';">$12,590</font><font style="font-family: 'Times New Roman';">&#160;</font></div>
          </td>
          <td style="width: 14.45%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
            <div style="text-align: center;"><font style="font-family: 'Times New Roman';">$8,304</font><font style="font-family: 'Times New Roman';">&#160;</font></div>
          </td>
          <td style="width: 14%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
            <div style="text-align: center;"><font style="font-family: 'Times New Roman';">$12,294</font><font style="font-family: 'Times New Roman';">&#160;</font></div>
          </td>
          <td style="width: 14%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
            <div style="text-align: center;"><font style="font-family: 'Times New Roman';">$16,642</font><font style="font-family: 'Times New Roman';">&#160;</font></div>
          </td>
        </tr>
        <tr>
          <td style="width: 30%; vertical-align: bottom; background-color: rgb(255, 255, 255);">
            <div><font style="font-family: 'Times New Roman';">Friedrich</font><font style="font-family: 'Times New Roman';">&#160;</font></div>
          </td>
          <td style="width: 14%; vertical-align: bottom; background-color: rgb(255, 255, 255);">
            <div style="text-align: center;"><font style="font-family: 'Times New Roman';">$11,640</font><font style="font-family: 'Times New Roman';">&#160;</font></div>
          </td>
          <td style="width: 14%; vertical-align: bottom; background-color: rgb(255, 255, 255);">
            <div style="text-align: center;"><font style="font-family: 'Times New Roman';">$12,132</font><font style="font-family: 'Times New Roman';">&#160;</font></div>
          </td>
          <td style="width: 14.45%; vertical-align: bottom; background-color: rgb(255, 255, 255);">
            <div style="text-align: center;"><font style="font-family: 'Times New Roman';">$8,002</font><font style="font-family: 'Times New Roman';">&#160;</font></div>
          </td>
          <td style="width: 14%; vertical-align: bottom; background-color: rgb(255, 255, 255);">
            <div style="text-align: center;"><font style="font-family: 'Times New Roman';">$11,847</font><font style="font-family: 'Times New Roman';">&#160;</font></div>
          </td>
          <td style="width: 14%; vertical-align: bottom; background-color: rgb(255, 255, 255);">
            <div style="text-align: center;"><font style="font-family: 'Times New Roman';">$16,037</font><font style="font-family: 'Times New Roman';">&#160;</font></div>
          </td>
        </tr>
        <tr>
          <td style="width: 30%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
            <div><font style="font-family: 'Times New Roman';">Lydon</font><font style="font-family: 'Times New Roman';">&#160;</font></div>
          </td>
          <td style="width: 14%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
            <div style="text-align: center;"><font style="font-family: 'Times New Roman';">None</font><font style="font-family: 'Times New Roman';">&#160;</font></div>
          </td>
          <td style="width: 14%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
            <div style="text-align: center;"><font style="font-family: 'Times New Roman';">None</font><font style="font-family: 'Times New Roman';">&#160;</font></div>
          </td>
          <td style="width: 14.45%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
            <div style="text-align: center;"><font style="font-family: 'Times New Roman';">None</font><font style="font-family: 'Times New Roman';">&#160;</font></div>
          </td>
          <td style="width: 14%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
            <div style="text-align: center;"><font style="font-family: 'Times New Roman';">None</font><font style="font-family: 'Times New Roman';">&#160;</font></div>
          </td>
          <td style="width: 14%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
            <div style="text-align: center;"><font style="font-family: 'Times New Roman';">None</font><font style="font-family: 'Times New Roman';">&#160;</font></div>
          </td>
        </tr>
        <tr>
          <td style="width: 30%; vertical-align: bottom; background-color: rgb(255, 255, 255);">
            <div><font style="font-family: 'Times New Roman';">Nyberg</font><font style="font-family: 'Times New Roman';">&#160;</font></div>
          </td>
          <td style="width: 14%; vertical-align: bottom; background-color: rgb(255, 255, 255);">
            <div style="text-align: center;"><font style="font-family: 'Times New Roman';">$11,420</font><font style="font-family: 'Times New Roman';">&#160;</font></div>
          </td>
          <td style="width: 14%; vertical-align: bottom; background-color: rgb(255, 255, 255);">
            <div style="text-align: center;"><font style="font-family: 'Times New Roman';">$11,903</font><font style="font-family: 'Times New Roman';">&#160;</font></div>
          </td>
          <td style="width: 14.45%; vertical-align: bottom; background-color: rgb(255, 255, 255);">
            <div style="text-align: center;"><font style="font-family: 'Times New Roman';">$7,851</font><font style="font-family: 'Times New Roman';">&#160;</font></div>
          </td>
          <td style="width: 14%; vertical-align: bottom; background-color: rgb(255, 255, 255);">
            <div style="text-align: center;"><font style="font-family: 'Times New Roman';">$11,623</font><font style="font-family: 'Times New Roman';">&#160;</font></div>
          </td>
          <td style="width: 14%; vertical-align: bottom; background-color: rgb(255, 255, 255);">
            <div style="text-align: center;"><font style="font-family: 'Times New Roman';">$15,735</font><font style="font-family: 'Times New Roman';">&#160;</font></div>
          </td>
        </tr>
        <tr>
          <td style="width: 30%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
            <div><font style="font-family: 'Times New Roman';">Oliverius</font><font style="font-family: 'Times New Roman';"><sup style="vertical-align: text-top; line-height: 1; font-size: smaller;">(1)</sup>&#160;</font></div>
          </td>
          <td style="width: 14%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
            <div style="text-align: center;"><font style="font-family: 'Times New Roman';">$5,629</font><font style="font-family: 'Times New Roman';">&#160;</font></div>
          </td>
          <td style="width: 14%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
            <div style="text-align: center;"><font style="font-family: 'Times New Roman';">$5,670</font><font style="font-family: 'Times New Roman';">&#160;</font></div>
          </td>
          <td style="width: 14.45%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
            <div style="text-align: center;"><font style="font-family: 'Times New Roman';">$3,772</font><font style="font-family: 'Times New Roman';">&#160;</font></div>
          </td>
          <td style="width: 14%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
            <div style="text-align: center;"><font style="font-family: 'Times New Roman';">$5,684</font><font style="font-family: 'Times New Roman';">&#160;</font></div>
          </td>
          <td style="width: 14%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
            <div style="text-align: center;"><font style="font-family: 'Times New Roman';">$7,363</font><font style="font-family: 'Times New Roman';">&#160;</font></div>
          </td>
        </tr>
        <tr>
          <td style="width: 30%; vertical-align: bottom; background-color: rgb(255, 255, 255);">
            <div><font style="font-family: 'Times New Roman';">Sponem</font><font style="font-family: 'Times New Roman';">&#160;</font></div>
          </td>
          <td style="width: 14%; vertical-align: bottom; background-color: rgb(255, 255, 255);">
            <div style="text-align: center;"><font style="font-family: 'Times New Roman';">None</font><font style="font-family: 'Times New Roman';">&#160;</font></div>
          </td>
          <td style="width: 14%; vertical-align: bottom; background-color: rgb(255, 255, 255);">
            <div style="text-align: center;"><font style="font-family: 'Times New Roman';">None</font><font style="font-family: 'Times New Roman';">&#160;</font></div>
          </td>
          <td style="width: 14.45%; vertical-align: bottom; background-color: rgb(255, 255, 255);">
            <div style="text-align: center;"><font style="font-family: 'Times New Roman';">None</font><font style="font-family: 'Times New Roman';">&#160;</font></div>
          </td>
          <td style="width: 14%; vertical-align: bottom; background-color: rgb(255, 255, 255);">
            <div style="text-align: center;"><font style="font-family: 'Times New Roman';">None</font><font style="font-family: 'Times New Roman';">&#160;</font></div>
          </td>
          <td style="width: 14%; vertical-align: bottom; background-color: rgb(255, 255, 255);">
            <div style="text-align: center;"><font style="font-family: 'Times New Roman';">None</font><font style="font-family: 'Times New Roman';">&#160;</font></div>
          </td>
        </tr>
        <tr>
          <td style="width: 30%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
            <div><font style="font-family: 'Times New Roman';">Toupin</font><font style="font-family: 'Times New Roman';">&#160;</font></div>
          </td>
          <td style="width: 14%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
            <div style="text-align: center;"><font style="font-family: 'Times New Roman';">$14,498</font><font style="font-family: 'Times New Roman';">&#160;</font></div>
          </td>
          <td style="width: 14%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
            <div style="text-align: center;"><font style="font-family: 'Times New Roman';">$15,107</font><font style="font-family: 'Times New Roman';">&#160;</font></div>
          </td>
          <td style="width: 14.45%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
            <div style="text-align: center;"><font style="font-family: 'Times New Roman';">$9,964</font><font style="font-family: 'Times New Roman';">&#160;</font></div>
          </td>
          <td style="width: 14%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
            <div style="text-align: center;"><font style="font-family: 'Times New Roman';">$14,754</font><font style="font-family: 'Times New Roman';">&#160;</font></div>
          </td>
          <td style="width: 14%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
            <div style="text-align: center;"><font style="font-family: 'Times New Roman';">$19,968</font><font style="font-family: 'Times New Roman';">&#160;</font></div>
          </td>
        </tr>

    </table>
    <div style="margin-bottom: 6pt;">&#160;
      <hr align="left" style="height: 2px; width: 10%; color: #000000; background-color: #000000; margin-left: 0px; margin-right: auto; border: none;"></div>
    <table cellspacing="0" cellpadding="0" style="font-family: Arial; font-size: 10pt; width: 100%; border-collapse: collapse; text-align: left; color: #000000;" id="z6a698a30c9704997829c9ec72acfc95a">

        <tr>
          <td style="width: 2.83%; vertical-align: top; font-family: 'Times New Roman';">
            <div><sup style="vertical-align: text-top; line-height: 1; font-size: smaller;">(1)&#160;</sup></div>
          </td>
          <td colspan="1" style="width: 97.17%; vertical-align: bottom;">
            <div><font style="font-family: 'Times New Roman';">The amounts shown in this row represent the payments made to Mr. Oliverius up until his retirement</font><font style="font-family: 'Times New Roman';"> </font><font style="font-family: 'Times New Roman';">from the Board effective April 4, 2019.</font><font style="font-family: 'Times New Roman';">&#160;</font></div>
          </td>
        </tr>

    </table>
    <div style="margin-bottom: 6pt;">&#160;</div>
    <div style="margin-bottom: 6pt; font-weight: bold;">Shareholder Approval</div>
    <div style="margin-bottom: 6pt;">&#160;&#160;&#160;&#160;&#160;With respect to each Fund, the affirmative vote of a majority of the Shares present in person or represented by proxy and entitled to vote on the matter at the Annual Meeting at which a quorum is present is
      necessary to elect a Trustee nominee. Abstentions will have the same effect as votes against the election of a Trustee nominee. &#8220;Broker non-votes&#8221; (i.e., Shares held by brokers or nominees as to which (i) instructions have not been received from the
      beneficial owner or the persons entitled to vote and (ii) the broker does not have discretionary voting power on a particular matter) will have no effect on the outcome of the vote on a Trustee nominee.</div>
    <div style="margin-bottom: 6pt;">&#160;&#160;&#160;&#160;&#160;The holders of the Shares will have equal voting rights (i.e. one vote per Share).</div>
    <div style="margin-bottom: 6pt; font-weight: bold;">Board Recommendation</div>
    <div style="margin-bottom: 6pt;">&#160;&#160;&#160;&#160;&#160;The Board unanimously recommends that shareholders vote &#8220;<font style="font-weight: bold;">FOR</font>&#8221; the nominees of the Board of your Fund.</div>
    <div style="text-align: center; margin-bottom: 6pt;">24</div>
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    <br>
    <div style="margin-bottom: 6pt;"><br>
    </div>
    <div style="margin-bottom: 6pt; font-style: italic; font-weight: bold;">
      <hr noshade="noshade" align="center" style="height: 2px; color: #000000; background-color: #000000; text-align: center; margin-left: auto; margin-right: auto; border: none;">ADDITIONAL INFORMATION
      <hr noshade="noshade" align="center" style="height: 2px; color: #000000; background-color: #000000; text-align: center; margin-left: auto; margin-right: auto; border: none;"></div>
    <div style="margin-bottom: 6pt; font-weight: bold;"> <br>
    </div>
    <div style="margin-bottom: 6pt; font-weight: bold;">Further Information About Voting and the Annual Meeting</div>
    <div style="margin-bottom: 6pt;">&#160;&#160;&#160;&#160;&#160;<font style="font-style: italic;">Quorum. </font>With respect to each Fund, the holders of a majority of the Shares entitled to vote on any matter at a meeting present in person or by proxy shall constitute a
      quorum at such meeting of the shareholders for purposes of conducting business on such matter. Votes withheld, abstentions and broker non-votes (i.e., Shares held by brokers or nominees as to which (i) instructions have not been received from the
      beneficial owner or the persons entitled to vote and (ii) the broker does not have discretionary voting power on a particular matter) will be counted as Shares present at the Annual Meeting for quorum purposes.</div>
    <div style="margin-bottom: 6pt;">&#160;&#160;&#160;&#160;&#160;<font style="font-style: italic;">Record Date. </font>The Board has fixed the close of business on February 14, 2020, as the Record Date for the determination of shareholders of each Fund entitled to notice of,
      and to vote at, the Annual Meeting. Shareholders of each Fund as of the close of business on the Record Date will be entitled to one vote on each matter to be voted on by such Fund for each Share held and a fractional vote with respect to fractional
      Shares with no cumulative voting rights.</div>
    <div style="margin-bottom: 6pt;">&#160;&#160;&#160;&#160;&#160;<font style="font-style: italic;">Joint Meeting. </font>The Annual Meeting is scheduled as a joint meeting of the Funds, whose votes on similar proposals applicable to such funds are being solicited separately,
      because the shareholders of the funds are expected to consider and vote on similar matters. In the event that any shareholder present at the Annual Meeting objects to the holding of a joint meeting and moves for the adjournment of his or her Fund&#8217;s
      meeting to a time immediately after the Annual Meeting so that each Fund&#8217;s meeting may be held separately, the persons named as proxies will vote in favor of such adjournment. Shareholders of each Fund will vote separately on the respective Proposal
      relating to their Fund. In any event, an unfavorable vote on any Proposal by the shareholders of one Fund will not affect the implementation of such Proposal by another Fund if the Proposal is approved by the shareholders of that Fund.</div>
    <div style="margin-bottom: 6pt;">&#160;&#160;&#160;&#160;&#160;<font style="font-style: italic;">How to Vote Your Shares. </font>Whether or not you plan to attend the Annual Meeting, we urge you to complete, sign, date, and return the enclosed proxy card in the postage-paid
      envelope provided or vote via telephone or the Internet so your Shares will be represented at the Annual Meeting. Instructions regarding how to vote via telephone or the Internet are included on the enclosed proxy card. The required control number
      for Internet and telephone voting is printed on the enclosed proxy card. The control number is used to match proxy cards with shareholders&#8217; respective accounts and to ensure that, if multiple proxy cards are executed, Shares are voted in accordance
      with the proxy card bearing the latest date.</div>
    <div style="margin-bottom: 6pt;">&#160;&#160;&#160;&#160;&#160;All Shares represented by properly executed proxies received prior to the Annual Meeting will be voted at the Annual Meeting in accordance with the</div>
    <div style="text-align: center; margin-bottom: 6pt;">25</div>
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    </div>
    <br>
    <div style="margin-bottom: 6pt;"><br>
    </div>
    <div style="margin-bottom: 6pt;">instructions marked thereon or otherwise as provided therein. <font style="font-weight: bold;">If you sign the proxy card, but don&#8217;t fill in a vote, your Shares will be voted in accordance with the Board&#8217;s
        recommendation. </font>If any other business is brought before the Annual Meeting, your Shares will be voted at the proxies&#8217; discretion.</div>
    <div style="margin-bottom: 6pt;">&#160;&#160;&#160;&#160;&#160;Shareholders who execute proxy cards or record voting instructions via telephone or the Internet may revoke them at any time before they are voted by filing with the Secretary of the Funds a written notice of
      revocation, by delivering (including via telephone or the Internet) a duly executed proxy bearing a later date or by attending the Annual Meeting and voting in person. Merely attending the Annual Meeting, however, will not revoke any previously
      submitted proxy.</div>
    <div style="margin-bottom: 6pt;">&#160;&#160;&#160;&#160;&#160;<font style="font-style: italic;">Attending the Annual Meeting. </font>If you wish to attend the Annual Meeting and vote in person, you will be able to do so. If you intend to attend the Annual Meeting in person
      and you are a record holder of a Fund&#8217;s Shares, in order to gain admission you must show photographic identification, such as your driver&#8217;s license. If you intend to attend the Annual Meeting in person and you hold your Shares through a bank, broker
      or other custodian, in order to gain admission you must show photographic identification, such as your driver&#8217;s license, and satisfactory proof of ownership of Shares of a Fund, such as your voting instruction form (or a copy thereof) or broker&#8217;s
      statement indicating ownership as of a recent date. If you hold your Shares in a brokerage account or through a bank or other nominee, you will not be able to vote in person at the annual meeting unless you have previously requested and obtained a
      &#8220;legal proxy&#8221; from your broker, bank or other nominee and present it at the Annual Meeting. You may contact the Funds at (800) 345-7999 to obtain directions to the site of the Annual Meeting.</div>
    <div style="margin-bottom: 6pt;">&#160;&#160;&#160;&#160;&#160;<font style="font-style: italic;">Additional Information Regarding Voting. </font>Broker-dealer firms holding Shares of a Fund in &#8220;street name&#8221; for the benefit of their customers and clients will request the
      instructions of such customers and clients on how to vote their shares on the Proposal before the Annual Meeting. The Funds understand that, under the rules of the NYSE, such broker-dealer firms may for certain &#8220;routine&#8221; matters, without instructions
      from their customers and clients, grant discretionary authority to the proxies designated by the Board to vote if no instructions have been received prior to the date specified in the broker-dealer firm&#8217;s request for voting instructions. Each
      Proposal is a &#8220;routine&#8221; matter and beneficial owners who do not provide proxy instructions or who do not return a proxy card may have their Shares voted by broker-dealer firms in favor of the Proposal. A properly executed proxy card or other
      authorization by a beneficial owner of Shares that does not specify how the beneficial owner&#8217;s Shares should be voted on the Proposal may be deemed an instruction to vote such Shares in favor of the Proposal. Broker-dealers who are not members of the
      NYSE may be subject to other rules, which may or may not permit them to vote your Shares without instruction. We urge you to provide instructions to your bank, broker or other nominee so that your votes may be counted.</div>
    <div style="margin-bottom: 6pt;">&#160;&#160;&#160;&#160;&#160;The Funds will update certain data regarding the Funds, including performance data, on a monthly basis on its website at</div>
    <div style="text-align: center; margin-bottom: 6pt;">26</div>
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    </div>
    <br>
    <div style="margin-bottom: 6pt;"><br>
    </div>
    <div style="margin-bottom: 6pt; font-family: Arial;"><font style="font-family: 'Times New Roman';"><u>www.guggenheiminvestments.com</u></font><font style="font-family: 'Times New Roman';">. Investors and others are advised to periodically check the
        website for updated performance information and the release of other material information about the Funds.</font></div>
    <div style="margin-bottom: 6pt; font-weight: bold;">Investment Adviser and Investment Sub-Advisers</div>
    <div style="margin-bottom: 6pt;">&#160;&#160;&#160;&#160;&#160;Guggenheim Funds, a subsidiary of Guggenheim Partners, LLC (&#8220;Guggenheim Partners&#8221;), acts as each Fund&#8217;s investment adviser pursuant to an investment advisory agreement between each Fund and Guggenheim Funds.
      Guggenheim Funds is a registered investment adviser and acts as investment adviser to a number of closed-end and open-end investment companies. Guggenheim Funds is a Delaware limited liability company with principal offices located at 227 West Monroe
      Street, 7th Floor, Chicago, Illinois 60606.</div>
    <div style="margin-bottom: 6pt;">&#160;&#160;&#160;&#160;&#160;Guggenheim Partners is a diversified financial services firm with wealth management, capital markets, investment management and proprietary investing businesses, whose clients are a mix of individuals, family
      offices, endowments, foundations, insurance companies and other institutions that have entrusted Guggenheim Partners with the supervision of more than $275 billion of assets as of December 31, 2019. Guggenheim Partners is headquartered in Chicago and
      New York with a global network of offices throughout the United States, Europe, and Asia.</div>
    <div style="margin-bottom: 6pt;">&#160;&#160;&#160;&#160;&#160;Guggenheim Partners Investment Management, LLC (&#8220;GPIM&#8221;), an affiliate of Guggenheim Partners, acts as investment sub-adviser to GBAB, GGM, GPM, and GOF pursuant to separate sub-advisory agreements among each such
      Fund, the Adviser and GPIM. GPIM is a Delaware limited liability company, with its principal offices located at 100 Wilshire Boulevard, Santa Monica, California 90401.</div>
    <div style="margin-bottom: 6pt;">&#160;&#160;&#160;&#160;&#160;Tortoise Capital Advisors, L.L.C. (&#8220;Tortoise&#8221;), a Delaware limited liability company, acts as investment sub-adviser to FMO pursuant to an investment sub-advisory agreement among FMO, the Adviser and Tortoise.
      Tortoise is an indirectly wholly owned subsidiary of Tortoise Investments, LLC. The Tortoise Capital Advisors L.L.C. St. Louis team (&#8220;Tortoise St. Louis team&#8221;) is located at 8235 Forsyth Boulevard, Saint Louis, Missouri 63105. As of December 31,
      2019, the Tortoise St. Louis team managed approximately $2.4 billion in MLP and energy infrastructure assets for open and closed end mutual funds, pension plans, corporations and other businesses, and individuals. Prior to September 21, 2019,
      Advisory Research, Inc. served as the sub-adviser to FMO. In connection with a transaction whereby Tortoise reached a definitive agreement to acquire the midstream energy asset business of Advisory Research, Inc., from parent company Piper Jaffray
      Companies, FMO&#8217;s Board of Trustees approved a new investment sub-advisory agreement with Tortoise, subject to shareholder approval. On November 21, 2019, FMO&#8217;s shareholders voted to approve the new investment sub-advisory agreement.</div>
    <div style="text-align: center; margin-bottom: 6pt;">27</div>
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    </div>
    <br>
    <div style="margin-bottom: 6pt;"><br>
    </div>
    <div style="margin-bottom: 6pt; font-weight: bold;">Administrator</div>
    <div style="margin-bottom: 6pt;">&#160;&#160;&#160;&#160;&#160;MUFG Investor Services (US) (&#8220;MUFG&#8221;) serves as the Funds&#8217; administrator. MUFG is located at 805 King Farm Boulevard, Rockville, Maryland 20850. Pursuant to an administration agreement with each Fund, MUFG provides
      certain administrative, bookkeeping and accounting services to the Funds. MUFG also provides certain fund accounting services to the Funds pursuant to a fund accounting agreement.</div>
    <div style="margin-bottom: 6pt; font-weight: bold;">Independent Registered Public Accounting Firm</div>
    <div style="margin-bottom: 6pt;">&#160;&#160;&#160;&#160;&#160;Ernst &amp; Young LLP (&#8220;E&amp;Y&#8221;) has been selected as the independent registered public accounting firm for the Funds by the Audit Committees of the Funds and approved by a majority of each Fund&#8217;s Board, including
      a majority of the Independent Trustees, to audit the accounts of the Funds for and during each Fund&#8217;s current fiscal year. The Funds do not know of any direct or indirect financial interest of E&amp;Y in the Funds.</div>
    <div style="margin-bottom: 6pt;">&#160;&#160;&#160;&#160;&#160;Representatives of E&amp;Y will be available to attend the Annual Meeting, will have the opportunity to make a statement if they desire to do so and will be available to answer questions if necessary.</div>
    <div style="margin-bottom: 6pt; font-weight: bold;">Audit and Other Fees</div>
    <div style="margin-bottom: 6pt;">&#160;&#160;&#160;&#160;&#160;<font style="font-style: italic;">Audit Fees. </font>For each Fund&#8217;s two most recently completed fiscal years, the aggregate fees billed to each Fund by E&amp;Y for professional services rendered for the audit of
      such Fund&#8217;s annual financial statements are set forth on <u>Annex A</u>.</div>
    <div style="margin-bottom: 6pt;">&#160;&#160;&#160;&#160;&#160;<font style="font-style: italic;">Audit-Related Fees. </font>For each Fund&#8217;s two most recently completed fiscal years, the aggregate fees billed by E&amp;Y and approved by the Audit Committee of each Fund for
      assurance and related services reasonably related to the performance of the audit of such Fund&#8217;s annual financial statements (such fees relate to services rendered, and out of pocket expenses incurred, in connection with the Funds&#8217; registration
      statements, comfort letters and consents) are set forth on <u>Annex A</u>.</div>
    <div style="margin-bottom: 6pt;">&#160;&#160;&#160;&#160;&#160;E&amp;Y did not perform any other assurance and related services that were required to be approved by the Funds&#8217; Audit Committees for such fiscal years.</div>
    <div style="margin-bottom: 6pt;">&#160;&#160;&#160;&#160;&#160;<font style="font-style: italic;">Tax Fees. </font>For each Fund&#8217;s two most recently completed fiscal years, the aggregate fees billed by E&amp;Y and approved by the Audit Committee of each Fund for professional
      services rendered for tax compliance, tax advice, and tax planning (such fees relate to tax services provided by E&amp;Y in connection with the Fund&#8217;s excise tax calculations and review of the Fund&#8217;s tax returns) are set forth on <u>Annex A</u>.</div>
    <div style="margin-bottom: 6pt;">&#160;&#160;&#160;&#160;&#160;E&amp;Y did not perform any other tax compliance or tax planning services or render any tax advice that were required to be approved by the Funds&#8217; Audit Committee for such period.</div>
    <div style="margin-bottom: 6pt;">&#160;&#160;&#160;&#160;&#160;<font style="font-style: italic;">All Other Fees. </font>For each Fund&#8217;s two most recently completed fiscal years, the aggregate fees billed for products and services provided by E&amp;Y, other than the</div>
    <div style="text-align: center; margin-bottom: 6pt;">28</div>
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    </div>
    <br>
    <div style="margin-bottom: 6pt;"><br>
    </div>
    <div style="margin-bottom: 6pt;">services reported above in Audit Fees, Audit-Related Fees, and Tax Fees are set forth on <u>Annex A</u>.</div>
    <div style="margin-bottom: 6pt;">&#160;&#160;&#160;&#160;&#160;<font style="font-style: italic;">Aggregate Non-Audit Fees. </font>For each Fund&#8217;s two most recently completed fiscal years, the aggregate non-audit fees billed by E&amp;Y for services rendered to each Fund,
      Guggenheim Funds, and any entity controlling, controlled by or under common control with Guggenheim Funds that provides ongoing services to the Fund (not including an investment sub-adviser whose primary role is portfolio management and is
      sub-contracted with or overseen by another investment adviser) that directly related to the operations and financial reporting of the Fund are set forth on <u>Annex A</u>.</div>
    <div style="margin-bottom: 6pt; font-weight: bold;">Audit Committee&#8217;s Pre-Approval Policies and Procedures</div>
    <div style="margin-bottom: 6pt;">&#160;&#160;&#160;&#160;&#160;As noted above, the Audit Committee is governed by the Audit Committee Charter, which includes Pre-Approval Policies and Procedures in Section IV of such Charter. Specifically, sections V.B.2 and V.B.3 of the Audit
      Committee Charter contain the Pre-Approval Policies and Procedures and such sections are included below.</div>
    <div>
      <table cellspacing="0" cellpadding="0" class="DSPFListTable" id="z9007331326784c3da1168e11f6d4d48b" style="width: 100%; font-family: 'Times New Roman'; font-size: 10pt;">

          <tr style="vertical-align: top;">
            <td style="vertical-align: top; width: 40pt;">
              <div style="text-align: left; margin-bottom: 6pt; font-family: Arial;"><font style="font-family: 'Times New Roman'; font-weight: bold;">V.B.2.</font></div>
            </td>
            <td style="align: left; vertical-align: top; width: auto;">
              <div style="text-align: left; margin-bottom: 6pt; font-family: Arial;"><font style="font-family: 'Times New Roman';">Pre-approve any engagement of the independent auditors to provide any non-prohibited services, other than &#8220;prohibited
                  non-audit services,&#8221; to the Trust, including the fees and other compensation to be paid to the independent auditors (unless an exception is available under Rule 2-01 of Regulation S-X).</font></div>
            </td>
          </tr>

      </table>
    </div>
    <div><br>
    </div>
    <div>
      <div>
        <div style="margin-bottom: 6pt; margin-left: 50pt;"><font style="margin-bottom: 6pt;">(a) </font>The categories of services to be reviewed and considered for pre-approval include the following (collectively, &#8220;Identified Services&#8221;):</div>
      </div>
    </div>
    <div style="margin-bottom: 6pt; margin-left: 50pt;">Audit Services</div>
    <div>
      <table cellspacing="0" cellpadding="0" class="DSPFListTable" id="z3c84dd6147b840b59336468f14180c94" style="width: 100%; font-family: 'Times New Roman'; font-size: 10pt;">

          <tr style="vertical-align: top;">
            <td style="width: 50pt;">&#160;</td>
            <td style="vertical-align: top; width: 20pt;">
              <div style="text-align: left; margin-bottom: 6pt;">&#8226;</div>
            </td>
            <td style="align: left; vertical-align: top; width: auto;">
              <div style="text-align: left; margin-bottom: 6pt;">Annual financial statement audits</div>
            </td>
          </tr>

      </table>
    </div>
    <div>
      <table cellspacing="0" cellpadding="0" class="DSPFListTable" id="z8a6d0be660174b0ea4e2e76a5e78228c" style="width: 100%; font-family: 'Times New Roman'; font-size: 10pt;">

          <tr style="vertical-align: top;">
            <td style="width: 50pt;">&#160;</td>
            <td style="vertical-align: top; width: 20pt;">
              <div style="text-align: left; margin-bottom: 6pt;">&#8226;</div>
            </td>
            <td style="align: left; vertical-align: top; width: auto;">
              <div style="text-align: left; margin-bottom: 6pt;">Seed audits (related to new product filings, as required)</div>
            </td>
          </tr>

      </table>
    </div>
    <div>
      <table cellspacing="0" cellpadding="0" class="DSPFListTable" id="z2415d064b3a44da3a22b25a99db6db8d" style="width: 100%; font-family: 'Times New Roman'; font-size: 10pt;">

          <tr style="vertical-align: top;">
            <td style="width: 50pt;">&#160;</td>
            <td style="vertical-align: top; width: 20pt;">
              <div style="text-align: left; margin-bottom: 6pt;">&#8226;</div>
            </td>
            <td style="align: left; vertical-align: top; width: auto;">
              <div style="text-align: left; margin-bottom: 6pt;">SEC and regulatory filings and consents</div>
            </td>
          </tr>

      </table>
    </div>
    <div style="margin-bottom: 6pt; margin-left: 50pt;">Audit-Related Services</div>
    <div>
      <table cellspacing="0" cellpadding="0" class="DSPFListTable" id="z358d0c67fee640c5b7e65280b0cd1a1e" style="width: 100%; font-family: 'Times New Roman'; font-size: 10pt;">

          <tr style="vertical-align: top;">
            <td style="width: 50pt;">&#160;</td>
            <td style="vertical-align: top; width: 20pt;">
              <div style="text-align: left; margin-bottom: 6pt;">&#8226;</div>
            </td>
            <td style="align: left; vertical-align: top; width: auto;">
              <div style="text-align: left; margin-bottom: 6pt;">Accounting consultations</div>
            </td>
          </tr>

      </table>
    </div>
    <div>
      <table cellspacing="0" cellpadding="0" class="DSPFListTable" id="z1bc627bf093641d89a1fc3676415d78d" style="width: 100%; font-family: 'Times New Roman'; font-size: 10pt;">

          <tr style="vertical-align: top;">
            <td style="width: 50pt;">&#160;</td>
            <td style="vertical-align: top; width: 20pt;">
              <div style="text-align: left; margin-bottom: 6pt;">&#8226;</div>
            </td>
            <td style="align: left; vertical-align: top; width: auto;">
              <div style="text-align: left; margin-bottom: 6pt;">Fund merger/reorganization support services</div>
            </td>
          </tr>

      </table>
    </div>
    <div>
      <table cellspacing="0" cellpadding="0" class="DSPFListTable" id="z5a7cf0c71fd4473d9972cacaa91b0480" style="width: 100%; font-family: 'Times New Roman'; font-size: 10pt;">

          <tr style="vertical-align: top;">
            <td style="width: 50pt;">&#160;</td>
            <td style="vertical-align: top; width: 20pt;">
              <div style="text-align: left; margin-bottom: 6pt;">&#8226;</div>
            </td>
            <td style="align: left; vertical-align: top; width: auto;">
              <div style="text-align: left; margin-bottom: 6pt;">Other accounting related matters</div>
            </td>
          </tr>

      </table>
    </div>
    <div>
      <table cellspacing="0" cellpadding="0" class="DSPFListTable" id="zc737749baae54106a6ab90441cd5951b" style="width: 100%; font-family: 'Times New Roman'; font-size: 10pt;">

          <tr style="vertical-align: top;">
            <td style="width: 50pt;">&#160;</td>
            <td style="vertical-align: top; width: 20pt;">
              <div style="text-align: left; margin-bottom: 6pt;">&#8226;</div>
            </td>
            <td style="align: left; vertical-align: top; width: auto;">
              <div style="text-align: left; margin-bottom: 6pt;">Agreed upon procedures reports</div>
            </td>
          </tr>

      </table>
    </div>
    <div>
      <table cellspacing="0" cellpadding="0" class="DSPFListTable" id="z40fcd47ed51a4cd2a9ecf9caa85cb8ad" style="width: 100%; font-family: 'Times New Roman'; font-size: 10pt;">

          <tr style="vertical-align: top;">
            <td style="width: 50pt;">&#160;</td>
            <td style="vertical-align: top; width: 20pt;">
              <div style="text-align: left; margin-bottom: 6pt;">&#8226;</div>
            </td>
            <td style="align: left; vertical-align: top; width: auto;">
              <div style="text-align: left; margin-bottom: 6pt;">Attestation reports</div>
            </td>
          </tr>

      </table>
    </div>
    <div>
      <table cellspacing="0" cellpadding="0" class="DSPFListTable" id="z44f450f63db64c63bda7a6d546ec0dbc" style="width: 100%; font-family: 'Times New Roman'; font-size: 10pt;">

          <tr style="vertical-align: top;">
            <td style="width: 50pt;">&#160;</td>
            <td style="vertical-align: top; width: 20pt;">
              <div style="text-align: left; margin-bottom: 6pt;">&#8226;</div>
            </td>
            <td style="align: left; vertical-align: top; width: auto;">
              <div style="text-align: left; margin-bottom: 6pt;">Other internal control reports</div>
            </td>
          </tr>

      </table>
    </div>
    <div style="margin-bottom: 6pt; margin-left: 50pt;">Tax Services</div>
    <div>
      <table cellspacing="0" cellpadding="0" class="DSPFListTable" id="zdd3a81bb75504acb8254f83358bd788d" style="width: 100%; font-family: 'Times New Roman'; font-size: 10pt;">

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            <td style="width: 50pt;">&#160;</td>
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              <div style="text-align: left; margin-bottom: 6pt;">Assistance with Federal, state, local and international tax planning and advice regarding the tax consequences of proposed or actual transactions</div>
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              <div style="text-align: left; margin-bottom: 6pt;">Tax services related to amendments to Federal, state and local returns and sales and use tax compliance</div>
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              <div style="text-align: left; margin-bottom: 6pt;">Tax accounting methods studies</div>
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              <div style="text-align: left; margin-bottom: 6pt;">Fund merger, reorganization and liquidation support services</div>
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              <div style="text-align: left; margin-bottom: 6pt;">Tax compliance, planning and advice services and related projects</div>
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            <td style="width: 70pt;">&#160;</td>
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    </div>
    <div style="text-align: center; margin-bottom: 6pt;">30</div>
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    <br>
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            <td style="vertical-align: top; width: 20pt;">
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              <div style="text-align: left; margin-bottom: 6pt;">Provision of tax compliance services in India for Funds with direct investments in India</div>
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    <div style="margin-bottom: 6pt; margin-left: 50pt;">
      <div><br>
      </div>
      (b) The Committee has pre-approved Identified Services for which the estimated fees are less than $25,000.</div>
    <div style="margin-bottom: 6pt; margin-left: 50pt;">(c) For Identified Services with estimated fees of $25,000 or more, but less than $50,000, the Chair or any member of the Committee designated by the Chair is hereby authorized to pre-approve such
      services on behalf of the Committee.</div>
    <div style="margin-bottom: 6pt; margin-left: 50pt;">(d) For Identified Services with estimated fees of $50,000 or more, such services require pre-approval by the Committee.</div>
    <div style="margin-bottom: 6pt; margin-left: 50pt;">(e) All requests for Identified Services to be provided by the independent auditor that were pre-approved by the Committee shall be submitted to the Chief Accounting Officer (&#8220;CAO&#8221;) of the Trust by
      the independent auditor using the pre-approval request form attached as Appendix C to the Audit Committee Charter. The Trust&#8217;s CAO will determine whether such services are included within the list of services that have received the general
      pre-approval of the Committee.</div>
    <div style="margin-bottom: 6pt; margin-left: 50pt;">(f) The independent auditors or the CAO of the Trust (or an officer of the Trust who reports to the CAO) shall report to the Committee at each of its regular quarterly meetings all audit,
      audit-related and permissible non-audit services initiated since the last such report (unless the services were contained in the initial audit plan, as previously presented to, and approved by, the Committee). The report shall include a general
      description of the services and projected fees, and the means by which such services were approved by the Committee (including the particular category of Identified Services under which pre-approval was obtained).</div>
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              <div style="text-align: left; margin-bottom: 6pt; font-family: Arial;"><font style="font-family: 'Times New Roman';">Pre-approve any engagement of the independent auditors, including the fees and other compensation to be paid to the
                  independent auditors, to provide any non-audit services to the Adviser (or any &#8220;control affiliate&#8221; of the Adviser providing ongoing services to the Trust), if the engagement relates directly to the operations and financial reporting of
                  the Trust (unless an exception is available under Rule 2-01 of Regulation S-X).</font></div>
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    <div style="margin-bottom: 6pt; margin-left: 50pt;"> <br>
    </div>
    <div style="margin-bottom: 6pt; margin-left: 50pt;">(a) The Chair or any member of the Committee designated by the Chair may grant the pre-approval for non-audit services to the Adviser (or any &#8220;control affiliate&#8221; of the Adviser providing ongoing
      services to the Trust) relating directly to the operations and financial reporting of the Trust for which the estimated fees are less than $25,000. All such delegated pre-approvals shall be presented to the Committee no later than the next Committee
      meeting.</div>
    <div style="text-align: center; margin-bottom: 6pt;">31</div>
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    <br>
    <div style="margin-bottom: 6pt;"><br>
    </div>
    <div style="margin-bottom: 6pt; margin-left: 50pt;">(b) For non-audit services to the Adviser (or any &#8220;control affiliate&#8221; of the Adviser providing ongoing services to the Trust) relating directly to the operations and financial reporting of the Trust
      for which the estimated fees are $25,000 or more, such services require pre-approval by the Committee.</div>
    <div style="margin-bottom: 6pt;">&#160;&#160;&#160;&#160;&#160;The Audit Committee has pre-approved all audit and non-audit services provided by E&amp;Y to the Funds, and all non-audit services provided by E&amp;Y to Guggenheim Funds, or any entity controlling, controlled by,
      or under common control with Guggenheim Funds that provides ongoing services to the Funds that are related to the operations of the Funds for the Funds&#8217; two most recently completed fiscal years.</div>
    <div style="margin-bottom: 6pt;">&#160;&#160;&#160;&#160;&#160;None of the services described above for the Funds&#8217; two most recently completed fiscal years were approved by the Audit Committee pursuant to the pre-approval exception under Rule 2-01(c)(7)(i)(C) of Regulation S-X
      promulgated by the SEC.</div>
    <div style="margin-bottom: 6pt; font-weight: bold;">Principal Shareholders</div>
    <div style="margin-bottom: 6pt;">&#160;&#160;&#160;&#160;&#160;As of the Record Date, to the knowledge of each Fund, no person beneficially owned more than 5% of the voting securities of any class of securities of any of the Funds, except as set forth on <u>Annex B</u>.</div>
    <div style="margin-bottom: 6pt; font-weight: bold;">Section 16(a) Beneficial Ownership Reporting Compliance</div>
    <div style="margin-bottom: 6pt;">&#160;&#160;&#160;&#160;&#160;Section 16(a) of the Securities Exchange Act of 1934, and Section 30(h) of the 1940 Act require each Fund&#8217;s officers and Trustees, certain officers of each Fund&#8217;s investment adviser, affiliated persons of the
      investment adviser, and persons who beneficially own more than ten percent of a Fund&#8217;s shares to file certain reports of ownership (&#8220;Section 16 filings&#8221;) with the SEC and the NYSE. Based upon each Fund&#8217;s review of the copies of such forms effecting
      the Section 16 filings received by it, each Fund believes that for its most recently completed fiscal year, all filings applicable to such persons were completed and filed in a timely manner, except as follows: a Form 3 filing (relating to an initial
      statement of beneficial ownership of securities for each Fund) for William Rehder, an officer of the Funds, was inadvertently delayed.</div>
    <div style="margin-bottom: 6pt; font-weight: bold;">Privacy Principles of the Funds</div>
    <div style="margin-bottom: 6pt;">&#160;&#160;&#160;&#160;&#160;The Funds are committed to maintaining the privacy of shareholders and to safeguarding their non-public personal information. The following information is provided to help you understand what personal information
      the Funds collect, how the Funds protect that information and why, in certain cases, the Funds may share information with select other parties.</div>
    <div style="margin-bottom: 6pt;">&#160;&#160;&#160;&#160;&#160;Generally, the Funds do not receive any non-public personal information relating to their shareholders, although certain non-public personal information of their shareholders may become available to the Funds. The
      Funds do not disclose any non-public personal information about their shareholders or former</div>
    <div style="text-align: center; margin-bottom: 6pt;">32</div>
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    </div>
    <br>
    <div style="margin-bottom: 6pt;"><br>
    </div>
    <div style="margin-bottom: 6pt;">shareholders to anyone, except as permitted by law or as is necessary in order to service shareholder accounts (for example, to a transfer agent or third party administrator).</div>
    <div style="margin-bottom: 6pt;">&#160;&#160;&#160;&#160;&#160;The Funds restrict access to non-public personal information about their shareholders to employees of Guggenheim Funds with a legitimate business need for the information. The Funds maintain physical, electronic
      and procedural safeguards designed to protect the non-public personal information of their shareholders.</div>
    <div style="margin-bottom: 6pt; font-weight: bold;">Deadline for Shareholder Proposals</div>
    <div style="margin-bottom: 6pt;">&#160;&#160;&#160;&#160;&#160;Each Fund&#8217;s Amended and Restated By-Laws (the &#8220;By-Laws&#8221;) require compliance with certain procedures for a shareholder to properly make a nomination for election as a Trustee or to propose other business for the
      Fund. If a shareholder who is entitled to do so under a Fund&#8217;s By-Laws wishes to nominate a person or persons for election as a Trustee or propose other business for the Fund, that shareholder must provide a written notice to the Secretary of the
      Fund at the Fund&#8217;s principal executive offices. Such notice must include certain information about the proponent and the proposal, or in the case of a nomination, the nominee. A copy of each Fund&#8217;s By-Laws, which includes the provisions regarding the
      requirements for shareholder nominations and proposals, may be obtained by writing to the Secretary of the Fund at 227 West Monroe Street, 7th Floor, Chicago, Illinois 60606. Any shareholder considering making a nomination or other proposal should
      carefully review and comply with those provisions of the Fund&#8217;s By-Laws.</div>
    <div style="margin-bottom: 6pt;">&#160;&#160;&#160;&#160;&#160;Shareholder proposals intended for inclusion in a Fund&#8217;s proxy statement in connection with the 2021 annual meeting of shareholders pursuant to Rule 14a-8 under the Exchange Act must be received by the Fund at the
      Fund&#8217;s principal executive offices by October 25, 2020 in order to be considered for inclusion in the Fund&#8217;s proxy statement. Timely submission of a proposal does not necessarily mean that such proposal will be included in the Fund&#8217;s proxy statement.</div>
    <div style="margin-bottom: 6pt;">&#160;&#160;&#160;&#160;&#160;A proposal, other than a proposal submitted pursuant to Rule 14a-8, must be received by the Fund&#8217;s Secretary at the Fund&#8217;s principal executive offices not earlier than December 2, 2020 and not later than January 1,
      2021 (which is also the date after which shareholder nominations and proposals made outside of Rule 14a-8 under the Exchange Act would not be considered &#8220;timely&#8221; within the meaning of Rule 14a-4(c) under the Exchange Act). If a proposal is not
      &#8220;timely&#8221; within the meaning of Rule 14a-4(c), then the persons named as proxies in the proxies solicited by the Board for the 2021 annual meeting of shareholders may exercise discretionary voting power with respect to any such proposal.</div>
    <div style="margin-bottom: 6pt; font-weight: bold;">Expenses of Proxy Solicitation</div>
    <div style="margin-bottom: 6pt;">&#160;&#160;&#160;&#160;&#160;The cost of the Annual Meeting, including the costs of preparing and mailing the notice, proxy statement and proxy, and the solicitation of proxies, including reimbursement to broker-dealers and others who
      forwarded proxy materials to their clients, will be borne by the Funds. Costs will be borne by the</div>
    <div style="text-align: center; margin-bottom: 6pt;">33</div>
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      <div id="DSPFPageBreak" style="page-break-after: always;">
        <hr noshade="noshade" style="border-width: 0px; clear: both; margin: 4px 0px; width: 100%; height: 2px; color: #000000; background-color: #000000;"></div>
    </div>
    <br>
    <div style="margin-bottom: 6pt;"><br>
    </div>
    <div style="margin-bottom: 6pt;">Funds in proportion to the number of proxies solicited on behalf of a Fund to the total proxies solicited on behalf of all of the Funds. Certain officers of the Fund and certain officers and employees of Guggenheim
      Funds or their respective affiliates (none of whom will receive additional compensation therefore) may solicit proxies by telephone, mail, e-mail and/or personal interviews. Brokerage houses, banks and other fiduciaries may be requested to forward
      proxy solicitation materials to their principals to obtain authorization for the execution of proxies, and will be reimbursed by the Funds for such out-of-pocket expenses.</div>
    <div style="margin-bottom: 6pt; font-weight: bold;">Other Matters</div>
    <div style="margin-bottom: 6pt;">&#160;&#160;&#160;&#160;&#160;The management of the Funds knows of no other matters which are to be brought before the Annual Meeting. However, if any other matters not now known properly come before the Annual Meeting, it is the intention of
      the persons named in the enclosed form of proxy to vote such proxy in accordance with their judgment on such matters.</div>
    <div style="margin-bottom: 6pt;">&#160;&#160;&#160;&#160;&#160;Failure of a quorum to be present at the Annual Meeting may result in an adjournment. The chair of the Annual Meeting may also move for an adjournment of to permit further solicitation of proxies with respect to a
      Proposal if he or she determines that adjournment and further solicitation are reasonable and in the best interests of the applicable Fund&#8217;s shareholders. Any adjourned meeting or meetings may be held without the necessity of another notice.</div>
    <div style="margin-bottom: 6pt;">&#160;&#160;&#160;&#160;&#160;Please vote promptly by signing and dating each enclosed proxy card and returning it in the accompanying postage-paid return envelope or by following the enclosed instructions to vote by telephone or over the
      Internet.</div>
    <div style="margin-bottom: 6pt;">&#160;&#160;&#160;&#160;&#160;<font style="font-weight: bold;">Important Notice Regarding the Availability of Proxy Materials for the Shareholder Meeting to be Held on April 2, 2020</font></div>
    <div style="margin-bottom: 6pt;">&#160;&#160;&#160;&#160; This Proxy Statement is available on the Internet at <u>www.proxyvote.com</u>.</div>
    <div style="text-align: center; margin-bottom: 6pt;">34</div>
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    </div>
    <br>
    <div style="text-align: right; margin-bottom: 6pt; font-family: Arial;"><font style="font-family: 'Times New Roman'; font-weight: bold;">Annex A</font><font style="font-family: 'Times New Roman';"><br>
      </font><font style="font-family: 'Times New Roman';"><br>
      </font></div>
    <div style="text-align: center; margin-bottom: 6pt; font-family: Arial;"><font style="font-family: 'Times New Roman';"><font style="font-weight: bold;">Audit and Other Fees</font></font></div>
    <div style="margin-bottom: 6pt; font-family: Arial;"><font style="font-family: 'Times New Roman';"><font style="font-weight: bold;"></font><br>
        <font style="font-style: italic;">Fiscal Year ended 2019</font></font></div>
    <table cellspacing="0" cellpadding="0" border="0" style="font-family: Arial; font-size: 10pt; width: 100%; border-collapse: collapse; text-align: left; color: #000000;" id="z601fe0409b8e463fb6565f303e01a2bb">

        <tr>
          <td style="width: 16%; vertical-align: middle; font-family: 'Times New Roman';">&#160;</td>
          <td style="width: 12%; vertical-align: middle; font-family: 'Times New Roman';">&#160;</td>
          <td style="width: 12.5%; vertical-align: middle; font-family: 'Times New Roman';">&#160;</td>
          <td style="width: 12%; vertical-align: middle; font-family: 'Times New Roman';">&#160;</td>
          <td style="width: 12.5%; vertical-align: middle; font-family: 'Times New Roman';">&#160;</td>
          <td style="width: 12%; vertical-align: middle; font-family: 'Times New Roman';">&#160;</td>
          <td style="width: 12%; vertical-align: middle; font-family: 'Times New Roman';">&#160;</td>
          <td style="width: 12%; vertical-align: middle; font-family: 'Times New Roman';">&#160;</td>
        </tr>
        <tr>
          <td style="width: 16%; vertical-align: bottom; font-family: 'Times New Roman';">
            <div>&#160;</div>
          </td>
          <td style="width: 12%; vertical-align: bottom; font-family: 'Times New Roman';">
            <div style="text-align: center;">&#160;</div>
          </td>
          <td style="width: 12.5%; vertical-align: bottom; font-family: 'Times New Roman';">
            <div style="text-align: center;">&#160;</div>
          </td>
          <td colspan="4" rowspan="1" style="vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0); font-family: 'Times New Roman';">
            <div style="text-align: center; font-family: Arial;">&#160;<font style="font-family: 'Times New Roman'; font-weight: bold;">Non-Audit Fees</font><font style="font-family: 'Times New Roman';">&#160;</font></div>
          </td>
          <td style="width: 12%; vertical-align: bottom; font-family: 'Times New Roman';">
            <div style="text-align: center;">&#160;</div>
          </td>
        </tr>
        <tr>
          <td style="width: 16%; vertical-align: bottom; font-family: 'Times New Roman';">
            <div>&#160;</div>
          </td>
          <td style="width: 12%; vertical-align: bottom;">
            <div style="text-align: center;"><font style="font-family: 'Times New Roman'; font-weight: bold;">Fiscal</font><font style="font-family: 'Times New Roman';">&#160;</font></div>
          </td>
          <td style="width: 12.5%; vertical-align: bottom;">
            <div style="text-align: center;"><font style="font-family: 'Times New Roman'; font-weight: bold;">Audit</font><font style="font-family: 'Times New Roman';">&#160;</font></div>
          </td>
          <td style="width: 12%; vertical-align: bottom;">
            <div style="text-align: center;"><font style="font-family: 'Times New Roman'; font-weight: bold;">Audit</font><font style="font-family: 'Times New Roman';">&#160;</font></div>
          </td>
          <td style="width: 12.5%; vertical-align: bottom; font-family: 'Times New Roman';">
            <div style="text-align: center;">&#160;</div>
          </td>
          <td style="width: 12%; vertical-align: bottom; font-family: 'Times New Roman';">
            <div style="text-align: center;">&#160;</div>
          </td>
          <td style="width: 12%; vertical-align: bottom;">
            <div style="text-align: center;"><font style="font-family: 'Times New Roman'; font-weight: bold;">Total</font><font style="font-family: 'Times New Roman';">&#160;</font></div>
          </td>
          <td style="width: 12%; vertical-align: bottom; font-family: 'Times New Roman';">
            <div style="text-align: center;">&#160;</div>
          </td>
        </tr>
        <tr>
          <td style="width: 16%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0);">
            <div><font style="font-family: 'Times New Roman'; font-weight: bold;">Fund</font><font style="font-family: 'Times New Roman';">&#160;</font></div>
          </td>
          <td style="width: 12%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0);">
            <div style="text-align: center;"><font style="font-family: 'Times New Roman'; font-weight: bold;">Year End</font><font style="font-family: 'Times New Roman';">&#160;</font></div>
          </td>
          <td style="width: 12.5%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0);">
            <div style="text-align: center;"><font style="font-family: 'Times New Roman'; font-weight: bold;">Fees</font><font style="font-family: 'Times New Roman';">&#160;</font></div>
          </td>
          <td style="width: 12%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0);">
            <div style="text-align: center;"><font style="font-family: 'Times New Roman'; font-weight: bold;">Related</font><font style="font-family: 'Times New Roman';">&#160;</font></div>
          </td>
          <td style="width: 12.5%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0);">
            <div style="text-align: center;"><font style="font-family: 'Times New Roman'; font-weight: bold;">Tax</font><font style="font-family: 'Times New Roman';">&#160;</font></div>
          </td>
          <td style="width: 12%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0);">
            <div style="text-align: center;"><font style="font-family: 'Times New Roman'; font-weight: bold;">Other</font><font style="font-family: 'Times New Roman';">&#160;</font></div>
          </td>
          <td style="width: 12%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0);">
            <div style="text-align: center;"><font style="font-family: 'Times New Roman'; font-weight: bold;">Non-Audit</font><font style="font-family: 'Times New Roman';">&#160;</font></div>
          </td>
          <td style="width: 12%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0);">
            <div style="text-align: center;"><font style="font-family: 'Times New Roman'; font-weight: bold;">Total</font><font style="font-family: 'Times New Roman';">&#160;</font></div>
          </td>
        </tr>
        <tr>
          <td style="width: 16%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
            <div><font style="font-family: 'Times New Roman';">FMO</font><font style="font-family: 'Times New Roman';">&#160;</font></div>
          </td>
          <td style="width: 12%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
            <div style="text-align: center;"><font style="font-family: 'Times New Roman';">11/30</font><font style="font-family: 'Times New Roman';">&#160;</font></div>
          </td>
          <td style="width: 12.5%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
            <div style="text-align: center;"><font style="font-family: 'Times New Roman';">$51,517</font><font style="font-family: 'Times New Roman';">&#160;</font></div>
          </td>
          <td style="width: 12%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
            <div style="text-align: right;"><font style="font-family: 'Times New Roman';">$0</font><font style="font-family: 'Times New Roman';">&#160;</font></div>
          </td>
          <td style="width: 12.5%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
            <div style="text-align: right;"><font style="font-family: 'Times New Roman';">$257,085</font><font style="font-family: 'Times New Roman';">&#160;</font></div>
          </td>
          <td style="width: 12%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
            <div style="text-align: right;"><font style="font-family: 'Times New Roman';">$0</font><font style="font-family: 'Times New Roman';">&#160;</font></div>
          </td>
          <td style="width: 12%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
            <div style="text-align: right;"><font style="font-family: 'Times New Roman';">$257,085</font><font style="font-family: 'Times New Roman';">&#160;</font></div>
          </td>
          <td style="width: 12%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
            <div style="text-align: right;"><font style="font-family: 'Times New Roman';">$308,602</font><font style="font-family: 'Times New Roman';">&#160;</font></div>
          </td>
        </tr>
        <tr>
          <td style="width: 16%; vertical-align: bottom; background-color: rgb(255, 255, 255);">
            <div><font style="font-family: 'Times New Roman';">GBAB</font><font style="font-family: 'Times New Roman';">&#160;</font></div>
          </td>
          <td style="width: 12%; vertical-align: bottom; background-color: rgb(255, 255, 255);">
            <div style="text-align: center;"><font style="font-family: 'Times New Roman';">5/31</font><font style="font-family: 'Times New Roman';">&#160;</font></div>
          </td>
          <td style="width: 12.5%; vertical-align: bottom; background-color: rgb(255, 255, 255);">
            <div style="text-align: center;"><font style="font-family: 'Times New Roman';">$67,586</font><font style="font-family: 'Times New Roman';">&#160;</font></div>
          </td>
          <td style="width: 12%; vertical-align: bottom; background-color: rgb(255, 255, 255);">
            <div style="text-align: right;"><font style="font-family: 'Times New Roman';">$0</font><font style="font-family: 'Times New Roman';">&#160;</font></div>
          </td>
          <td style="width: 12.5%; vertical-align: bottom; background-color: rgb(255, 255, 255);">
            <div style="text-align: right;"><font style="font-family: 'Times New Roman';">$10,633</font><font style="font-family: 'Times New Roman';">&#160;</font></div>
          </td>
          <td style="width: 12%; vertical-align: bottom; background-color: rgb(255, 255, 255);">
            <div style="text-align: right;"><font style="font-family: 'Times New Roman';">$0</font><font style="font-family: 'Times New Roman';">&#160;</font></div>
          </td>
          <td style="width: 12%; vertical-align: bottom; background-color: rgb(255, 255, 255);">
            <div style="text-align: right;"><font style="font-family: 'Times New Roman';">$10,633</font><font style="font-family: 'Times New Roman';">&#160;</font></div>
          </td>
          <td style="width: 12%; vertical-align: bottom; background-color: rgb(255, 255, 255);">
            <div style="text-align: right;"><font style="font-family: 'Times New Roman';">$78,219</font><font style="font-family: 'Times New Roman';">&#160;</font></div>
          </td>
        </tr>
        <tr>
          <td style="width: 16%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
            <div><font style="font-family: 'Times New Roman';">GGM</font><font style="font-family: 'Times New Roman';">&#160;</font></div>
          </td>
          <td style="width: 12%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
            <div style="text-align: center;"><font style="font-family: 'Times New Roman';">5/31</font><font style="font-family: 'Times New Roman';">&#160;</font></div>
          </td>
          <td style="width: 12.5%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
            <div style="text-align: center;"><font style="font-family: 'Times New Roman';">$73,258</font><font style="font-family: 'Times New Roman';">&#160;</font></div>
          </td>
          <td style="width: 12%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
            <div style="text-align: right;"><font style="font-family: 'Times New Roman';">$0</font><font style="font-family: 'Times New Roman';">&#160;</font></div>
          </td>
          <td style="width: 12.5%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
            <div style="text-align: right;"><font style="font-family: 'Times New Roman';">$10,633</font><font style="font-family: 'Times New Roman';">&#160;</font></div>
          </td>
          <td style="width: 12%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
            <div style="text-align: right;"><font style="font-family: 'Times New Roman';">$0</font><font style="font-family: 'Times New Roman';">&#160;</font></div>
          </td>
          <td style="width: 12%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
            <div style="text-align: right;"><font style="font-family: 'Times New Roman';">$10,633</font><font style="font-family: 'Times New Roman';">&#160;</font></div>
          </td>
          <td style="width: 12%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
            <div style="text-align: right;"><font style="font-family: 'Times New Roman';">$83,891</font><font style="font-family: 'Times New Roman';">&#160;</font></div>
          </td>
        </tr>
        <tr>
          <td style="width: 16%; vertical-align: bottom; background-color: rgb(255, 255, 255);">
            <div><font style="font-family: 'Times New Roman';">GPM</font><font style="font-family: 'Times New Roman';">&#160;</font></div>
          </td>
          <td style="width: 12%; vertical-align: bottom; background-color: rgb(255, 255, 255);">
            <div style="text-align: center;"><font style="font-family: 'Times New Roman';">12/31</font><font style="font-family: 'Times New Roman';">&#160;</font></div>
          </td>
          <td style="width: 12.5%; vertical-align: bottom; background-color: rgb(255, 255, 255);">
            <div style="text-align: center;"><font style="font-family: 'Times New Roman';">$26,683</font><font style="font-family: 'Times New Roman';">&#160;</font></div>
          </td>
          <td style="width: 12%; vertical-align: bottom; background-color: rgb(255, 255, 255);">
            <div style="text-align: right;"><font style="font-family: 'Times New Roman';">$0</font><font style="font-family: 'Times New Roman';">&#160;</font></div>
          </td>
          <td style="width: 12.5%; vertical-align: bottom; background-color: rgb(255, 255, 255);">
            <div style="text-align: right;"><font style="font-family: 'Times New Roman';">$8,441</font><font style="font-family: 'Times New Roman';">&#160;</font></div>
          </td>
          <td style="width: 12%; vertical-align: bottom; background-color: rgb(255, 255, 255);">
            <div style="text-align: right;"><font style="font-family: 'Times New Roman';">$0</font><font style="font-family: 'Times New Roman';">&#160;</font></div>
          </td>
          <td style="width: 12%; vertical-align: bottom; background-color: rgb(255, 255, 255);">
            <div style="text-align: right;"><font style="font-family: 'Times New Roman';">$8,441</font><font style="font-family: 'Times New Roman';">&#160;</font></div>
          </td>
          <td style="width: 12%; vertical-align: bottom; background-color: rgb(255, 255, 255);">
            <div style="text-align: right;"><font style="font-family: 'Times New Roman';">$35,124</font><font style="font-family: 'Times New Roman';">&#160;</font></div>
          </td>
        </tr>
        <tr>
          <td style="width: 16%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
            <div><font style="font-family: 'Times New Roman';">GOF</font><font style="font-family: 'Times New Roman';">&#160;</font></div>
          </td>
          <td style="width: 12%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
            <div style="text-align: center;"><font style="font-family: 'Times New Roman';">5/31</font><font style="font-family: 'Times New Roman';">&#160;</font></div>
          </td>
          <td style="width: 12.5%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
            <div style="text-align: center;"><font style="font-family: 'Times New Roman';">$95,235</font><font style="font-family: 'Times New Roman';">&#160;</font></div>
          </td>
          <td style="width: 12%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
            <div style="text-align: right;"><font style="font-family: 'Times New Roman';">$0</font><font style="font-family: 'Times New Roman';">&#160;</font></div>
          </td>
          <td style="width: 12.5%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
            <div style="text-align: right;"><font style="font-family: 'Times New Roman';">$13,378</font><font style="font-family: 'Times New Roman';">&#160;</font></div>
          </td>
          <td style="width: 12%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
            <div style="text-align: right;"><font style="font-family: 'Times New Roman';">$0</font><font style="font-family: 'Times New Roman';">&#160;</font></div>
          </td>
          <td style="width: 12%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
            <div style="text-align: right;"><font style="font-family: 'Times New Roman';">$13,378</font><font style="font-family: 'Times New Roman';">&#160;</font></div>
          </td>
          <td style="width: 12%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
            <div style="text-align: right;"><font style="font-family: 'Times New Roman';">$108,613</font><font style="font-family: 'Times New Roman';">&#160;</font></div>
          </td>
        </tr>

    </table>
    <div style="margin-bottom: 6pt;">&#160;</div>
    <div style="margin-bottom: 6pt; font-style: italic;">Fiscal Year ended 2018</div>
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        <tr>
          <td style="width: 16%; vertical-align: middle; font-family: 'Times New Roman';">&#160;</td>
          <td style="width: 12%; vertical-align: middle; font-family: 'Times New Roman';">&#160;</td>
          <td style="width: 12.5%; vertical-align: middle; font-family: 'Times New Roman';">&#160;</td>
          <td style="width: 12%; vertical-align: middle; font-family: 'Times New Roman';">&#160;</td>
          <td style="width: 12.5%; vertical-align: middle; font-family: 'Times New Roman';">&#160;</td>
          <td style="width: 12%; vertical-align: middle; font-family: 'Times New Roman';">&#160;</td>
          <td style="width: 12%; vertical-align: middle; font-family: 'Times New Roman';">&#160;</td>
          <td style="width: 12%; vertical-align: middle; font-family: 'Times New Roman';">&#160;</td>
        </tr>
        <tr>
          <td style="width: 16%; vertical-align: bottom; font-family: 'Times New Roman';">
            <div>&#160;</div>
          </td>
          <td style="width: 12%; vertical-align: bottom; font-family: 'Times New Roman';">
            <div style="text-align: center;">&#160;</div>
          </td>
          <td style="width: 12.5%; vertical-align: bottom; font-family: 'Times New Roman';">
            <div style="text-align: center;">&#160;</div>
          </td>
          <td colspan="4" rowspan="1" style="vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0); font-family: 'Times New Roman';">
            <div style="text-align: center; font-family: Arial;">&#160;<font style="font-family: 'Times New Roman'; font-weight: bold;">Non-Audit Fees</font><font style="font-family: 'Times New Roman';">&#160;</font></div>
          </td>
          <td style="width: 12%; vertical-align: bottom; font-family: 'Times New Roman';">
            <div style="text-align: center;">&#160;</div>
          </td>
        </tr>
        <tr>
          <td style="width: 16%; vertical-align: bottom; font-family: 'Times New Roman';">
            <div>&#160;</div>
          </td>
          <td style="width: 12%; vertical-align: bottom;">
            <div style="text-align: center;"><font style="font-family: 'Times New Roman'; font-weight: bold;">Fiscal</font><font style="font-family: 'Times New Roman';">&#160;</font></div>
          </td>
          <td style="width: 12.5%; vertical-align: bottom;">
            <div style="text-align: center;"><font style="font-family: 'Times New Roman'; font-weight: bold;">Audit</font><font style="font-family: 'Times New Roman';">&#160;</font></div>
          </td>
          <td style="width: 12%; vertical-align: bottom;">
            <div style="text-align: center;"><font style="font-family: 'Times New Roman'; font-weight: bold;">Audit</font><font style="font-family: 'Times New Roman';">&#160;</font></div>
          </td>
          <td style="width: 12.5%; vertical-align: bottom; font-family: 'Times New Roman';">
            <div style="text-align: center;">&#160;</div>
          </td>
          <td style="width: 12%; vertical-align: bottom; font-family: 'Times New Roman';">
            <div style="text-align: center;">&#160;</div>
          </td>
          <td style="width: 12%; vertical-align: bottom;">
            <div style="text-align: center;"><font style="font-family: 'Times New Roman'; font-weight: bold;">Total</font><font style="font-family: 'Times New Roman';">&#160;</font></div>
          </td>
          <td style="width: 12%; vertical-align: bottom; font-family: 'Times New Roman';">
            <div style="text-align: center;">&#160;</div>
          </td>
        </tr>
        <tr>
          <td style="width: 16%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0);">
            <div><font style="font-family: 'Times New Roman'; font-weight: bold;">Fund</font><font style="font-family: 'Times New Roman';">&#160;</font></div>
          </td>
          <td style="width: 12%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0);">
            <div style="text-align: center;"><font style="font-family: 'Times New Roman'; font-weight: bold;">Year End</font><font style="font-family: 'Times New Roman';">&#160;</font></div>
          </td>
          <td style="width: 12.5%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0);">
            <div style="text-align: center;"><font style="font-family: 'Times New Roman'; font-weight: bold;">Fees</font><font style="font-family: 'Times New Roman';">&#160;</font></div>
          </td>
          <td style="width: 12%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0);">
            <div style="text-align: center;"><font style="font-family: 'Times New Roman'; font-weight: bold;">Related</font><font style="font-family: 'Times New Roman';">&#160;</font></div>
          </td>
          <td style="width: 12.5%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0);">
            <div style="text-align: center;"><font style="font-family: 'Times New Roman'; font-weight: bold;">Tax</font><font style="font-family: 'Times New Roman';">&#160;</font></div>
          </td>
          <td style="width: 12%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0);">
            <div style="text-align: center;"><font style="font-family: 'Times New Roman'; font-weight: bold;">Other</font><font style="font-family: 'Times New Roman';">&#160;</font></div>
          </td>
          <td style="width: 12%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0);">
            <div style="text-align: center;"><font style="font-family: 'Times New Roman'; font-weight: bold;">Non-Audit</font><font style="font-family: 'Times New Roman';">&#160;</font></div>
          </td>
          <td style="width: 12%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0);">
            <div style="text-align: center;"><font style="font-family: 'Times New Roman'; font-weight: bold;">Total</font><font style="font-family: 'Times New Roman';">&#160;</font></div>
          </td>
        </tr>
        <tr>
          <td style="width: 16%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
            <div><font style="font-family: 'Times New Roman';">FMO</font><font style="font-family: 'Times New Roman';">&#160;</font></div>
          </td>
          <td style="width: 12%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
            <div style="text-align: center;"><font style="font-family: 'Times New Roman';">11/30</font><font style="font-family: 'Times New Roman';">&#160;</font></div>
          </td>
          <td style="width: 12.5%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
            <div style="text-align: center;"><font style="font-family: 'Times New Roman';">$50,128</font><font style="font-family: 'Times New Roman';">&#160;</font></div>
          </td>
          <td style="width: 12%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
            <div style="text-align: right;"><font style="font-family: 'Times New Roman';">$24,000</font><font style="font-family: 'Times New Roman';">&#160;</font></div>
          </td>
          <td style="width: 12.5%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
            <div style="text-align: right;"><font style="font-family: 'Times New Roman';">$156,241</font><font style="font-family: 'Times New Roman';">&#160;</font></div>
          </td>
          <td style="width: 12%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
            <div style="text-align: right;"><font style="font-family: 'Times New Roman';">$0</font><font style="font-family: 'Times New Roman';">&#160;</font></div>
          </td>
          <td style="width: 12%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
            <div style="text-align: right;"><font style="font-family: 'Times New Roman';">$180,241</font><font style="font-family: 'Times New Roman';">&#160;</font></div>
          </td>
          <td style="width: 12%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
            <div style="text-align: right;"><font style="font-family: 'Times New Roman';">$230,369</font><font style="font-family: 'Times New Roman';">&#160;</font></div>
          </td>
        </tr>
        <tr>
          <td style="width: 16%; vertical-align: bottom; background-color: rgb(255, 255, 255);">
            <div><font style="font-family: 'Times New Roman';">GBAB</font><font style="font-family: 'Times New Roman';">&#160;</font></div>
          </td>
          <td style="width: 12%; vertical-align: bottom; background-color: rgb(255, 255, 255);">
            <div style="text-align: center;"><font style="font-family: 'Times New Roman';">5/31</font><font style="font-family: 'Times New Roman';">&#160;</font></div>
          </td>
          <td style="width: 12.5%; vertical-align: bottom; background-color: rgb(255, 255, 255);">
            <div style="text-align: center;"><font style="font-family: 'Times New Roman';">$51,166</font><font style="font-family: 'Times New Roman';">&#160;</font></div>
          </td>
          <td style="width: 12%; vertical-align: bottom; background-color: rgb(255, 255, 255);">
            <div style="text-align: right;"><font style="font-family: 'Times New Roman';">$0</font><font style="font-family: 'Times New Roman';">&#160;</font></div>
          </td>
          <td style="width: 12.5%; vertical-align: bottom; background-color: rgb(255, 255, 255);">
            <div style="text-align: right;"><font style="font-family: 'Times New Roman';">$10,633</font><font style="font-family: 'Times New Roman';">&#160;</font></div>
          </td>
          <td style="width: 12%; vertical-align: bottom; background-color: rgb(255, 255, 255);">
            <div style="text-align: right;"><font style="font-family: 'Times New Roman';">$0</font><font style="font-family: 'Times New Roman';">&#160;</font></div>
          </td>
          <td style="width: 12%; vertical-align: bottom; background-color: rgb(255, 255, 255);">
            <div style="text-align: right;"><font style="font-family: 'Times New Roman';">$10,633</font><font style="font-family: 'Times New Roman';">&#160;</font></div>
          </td>
          <td style="width: 12%; vertical-align: bottom; background-color: rgb(255, 255, 255);">
            <div style="text-align: right;"><font style="font-family: 'Times New Roman';">$61,799</font><font style="font-family: 'Times New Roman';">&#160;</font></div>
          </td>
        </tr>
        <tr>
          <td style="width: 16%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
            <div><font style="font-family: 'Times New Roman';">GGM</font><font style="font-family: 'Times New Roman';">&#160;</font></div>
          </td>
          <td style="width: 12%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
            <div style="text-align: center;"><font style="font-family: 'Times New Roman';">5/31</font><font style="font-family: 'Times New Roman';">&#160;</font></div>
          </td>
          <td style="width: 12.5%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
            <div style="text-align: center;"><font style="font-family: 'Times New Roman';">$42,110</font><font style="font-family: 'Times New Roman';">&#160;</font></div>
          </td>
          <td style="width: 12%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
            <div style="text-align: right;"><font style="font-family: 'Times New Roman';">$24,000</font><font style="font-family: 'Times New Roman';">&#160;</font></div>
          </td>
          <td style="width: 12.5%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
            <div style="text-align: right;"><font style="font-family: 'Times New Roman';">$10,633</font><font style="font-family: 'Times New Roman';">&#160;</font></div>
          </td>
          <td style="width: 12%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
            <div style="text-align: right;"><font style="font-family: 'Times New Roman';">$0</font><font style="font-family: 'Times New Roman';">&#160;</font></div>
          </td>
          <td style="width: 12%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
            <div style="text-align: right;"><font style="font-family: 'Times New Roman';">$34,633</font><font style="font-family: 'Times New Roman';">&#160;</font></div>
          </td>
          <td style="width: 12%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
            <div style="text-align: right;"><font style="font-family: 'Times New Roman';">$76,743</font><font style="font-family: 'Times New Roman';">&#160;</font></div>
          </td>
        </tr>
        <tr>
          <td style="width: 16%; vertical-align: bottom; background-color: rgb(255, 255, 255);">
            <div><font style="font-family: 'Times New Roman';">GPM</font><font style="font-family: 'Times New Roman';">&#160;</font></div>
          </td>
          <td style="width: 12%; vertical-align: bottom; background-color: rgb(255, 255, 255);">
            <div style="text-align: center;"><font style="font-family: 'Times New Roman';">12/31</font><font style="font-family: 'Times New Roman';">&#160;</font></div>
          </td>
          <td style="width: 12.5%; vertical-align: bottom; background-color: rgb(255, 255, 255);">
            <div style="text-align: center;"><font style="font-family: 'Times New Roman';">$26,017</font><font style="font-family: 'Times New Roman';">&#160;</font></div>
          </td>
          <td style="width: 12%; vertical-align: bottom; background-color: rgb(255, 255, 255);">
            <div style="text-align: right;"><font style="font-family: 'Times New Roman';">$0</font><font style="font-family: 'Times New Roman';">&#160;</font></div>
          </td>
          <td style="width: 12.5%; vertical-align: bottom; background-color: rgb(255, 255, 255);">
            <div style="text-align: right;"><font style="font-family: 'Times New Roman';">$8,441</font><font style="font-family: 'Times New Roman';">&#160;</font></div>
          </td>
          <td style="width: 12%; vertical-align: bottom; background-color: rgb(255, 255, 255);">
            <div style="text-align: right;"><font style="font-family: 'Times New Roman';">$0</font><font style="font-family: 'Times New Roman';">&#160;</font></div>
          </td>
          <td style="width: 12%; vertical-align: bottom; background-color: rgb(255, 255, 255);">
            <div style="text-align: right;"><font style="font-family: 'Times New Roman';">$8,441</font><font style="font-family: 'Times New Roman';">&#160;</font></div>
          </td>
          <td style="width: 12%; vertical-align: bottom; background-color: rgb(255, 255, 255);">
            <div style="text-align: right;"><font style="font-family: 'Times New Roman';">$34,458</font><font style="font-family: 'Times New Roman';">&#160;</font></div>
          </td>
        </tr>
        <tr>
          <td style="width: 16%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
            <div><font style="font-family: 'Times New Roman';">GOF</font><font style="font-family: 'Times New Roman';">&#160;</font></div>
          </td>
          <td style="width: 12%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
            <div style="text-align: center;"><font style="font-family: 'Times New Roman';">5/31</font><font style="font-family: 'Times New Roman';">&#160;</font></div>
          </td>
          <td style="width: 12.5%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
            <div style="text-align: center;"><font style="font-family: 'Times New Roman';">$63,446</font><font style="font-family: 'Times New Roman';">&#160;</font></div>
          </td>
          <td style="width: 12%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
            <div style="text-align: right;"><font style="font-family: 'Times New Roman';">$51,850</font><font style="font-family: 'Times New Roman';">&#160;</font></div>
          </td>
          <td style="width: 12.5%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
            <div style="text-align: right;"><font style="font-family: 'Times New Roman';">$13,378</font><font style="font-family: 'Times New Roman';">&#160;</font></div>
          </td>
          <td style="width: 12%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
            <div style="text-align: right;"><font style="font-family: 'Times New Roman';">$0</font><font style="font-family: 'Times New Roman';">&#160;</font></div>
          </td>
          <td style="width: 12%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
            <div style="text-align: right;"><font style="font-family: 'Times New Roman';">$65,228</font><font style="font-family: 'Times New Roman';">&#160;</font></div>
          </td>
          <td style="width: 12%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
            <div style="text-align: right;"><font style="font-family: 'Times New Roman';">$128,674</font><font style="font-family: 'Times New Roman';">&#160;</font></div>
          </td>
        </tr>

    </table>
    <div style="margin-bottom: 6pt;">&#160;</div>
    <div style="text-align: center; margin-bottom: 6pt;">A&#8211;1</div>
    <div id="DSPFPageBreakArea" style="clear: both; margin-top: 10pt; margin-bottom: 10pt;">
      <div id="DSPFPageBreak" style="page-break-after: always;">
        <hr noshade="noshade" style="border-width: 0px; clear: both; margin: 4px 0px; width: 100%; height: 2px; color: #000000; background-color: #000000;"></div>
    </div>
    <br>
    <div style="margin-bottom: 6pt;"><br>
    </div>
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    <div style="text-align: center; margin-bottom: 6pt;"> <br>
    </div>
    <div style="text-align: center; margin-bottom: 6pt;"> <br>
    </div>
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    </div>
    <br>
    <div style="text-align: right; margin-bottom: 6pt; font-weight: bold;">Annex B</div>
    <div style="text-align: center; margin-bottom: 6pt; font-weight: bold;"> <br>
    </div>
    <div style="text-align: center; margin-bottom: 6pt; font-weight: bold;">Principal Shareholders</div>
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        <tr>
          <td style="width: 14%; vertical-align: middle; font-family: 'Times New Roman';">&#160;</td>
          <td style="width: 44%; vertical-align: middle; font-family: 'Times New Roman';">&#160;</td>
          <td style="width: 14.29%; vertical-align: middle; font-family: 'Times New Roman';">&#160;</td>
          <td style="width: 14%; vertical-align: middle; font-family: 'Times New Roman';">&#160;</td>
          <td style="width: 14%; vertical-align: middle; font-family: 'Times New Roman';">&#160;</td>
        </tr>
        <tr>
          <td style="width: 14%; vertical-align: bottom; font-family: 'Times New Roman';">
            <div>&#160;</div>
          </td>
          <td style="width: 44%; vertical-align: bottom;">
            <div><font style="font-family: 'Times New Roman'; font-weight: bold;">Shareholder Name</font><font style="font-family: 'Times New Roman';">&#160;</font></div>
          </td>
          <td style="width: 14.29%; vertical-align: bottom;">
            <div style="text-align: center;"><font style="font-family: 'Times New Roman'; font-weight: bold;">Class</font><font style="font-family: 'Times New Roman';">&#160;</font></div>
          </td>
          <td style="width: 14%; vertical-align: bottom;">
            <div style="text-align: center;"><font style="font-family: 'Times New Roman'; font-weight: bold;">Share</font><font style="font-family: 'Times New Roman';">&#160;</font></div>
          </td>
          <td style="width: 14%; vertical-align: bottom;">
            <div style="text-align: center;"><font style="font-family: 'Times New Roman'; font-weight: bold;">Percentage</font><font style="font-family: 'Times New Roman';">&#160;</font></div>
          </td>
        </tr>
        <tr>
          <td style="width: 14%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0);">
            <div><font style="font-family: 'Times New Roman'; font-weight: bold;">Fund</font><font style="font-family: 'Times New Roman';">&#160;</font></div>
          </td>
          <td style="width: 44%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0);">
            <div><font style="font-family: 'Times New Roman'; font-weight: bold;">and Address</font><font style="font-family: 'Times New Roman';">&#160;</font></div>
          </td>
          <td style="width: 14.29%; vertical-align: bottom; border-bottom: #000000 2px solid;">
            <div style="text-align: center;"><font style="font-family: 'Times New Roman'; font-weight: bold;">of Shares</font><font style="font-family: 'Times New Roman';">&#160;</font></div>
          </td>
          <td style="width: 14%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0);">
            <div style="text-align: center;"><font style="font-family: 'Times New Roman'; font-weight: bold;">Holdings</font><font style="font-family: 'Times New Roman';">&#160;</font></div>
          </td>
          <td style="width: 14%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0);">
            <div style="text-align: center;"><font style="font-family: 'Times New Roman'; font-weight: bold;">Owned</font><font style="font-family: 'Times New Roman';">&#160;</font></div>
          </td>
        </tr>
        <tr>
          <td colspan="5" style="vertical-align: middle; font-family: 'Times New Roman';">
            <div>&#160;</div>
          </td>
        </tr>
        <tr>
          <td style="width: 14%; vertical-align: bottom;">
            <div><font style="font-family: 'Times New Roman';">FMO</font><font style="font-family: 'Times New Roman';">&#160;</font></div>
          </td>
          <td style="width: 44%; vertical-align: bottom;">
            <div><font style="font-family: 'Times New Roman';">First Trust Portfolios L.P.,</font><font style="font-family: 'Times New Roman';">&#160;</font></div>
          </td>
          <td style="width: 14.29%; vertical-align: bottom;">
            <div style="text-align: center;"><font style="font-family: 'Times New Roman';">Common</font><font style="font-family: 'Times New Roman';">&#160;</font></div>
          </td>
          <td style="width: 14%; vertical-align: bottom;">
            <div style="text-align: right;"><font style="font-family: 'Times New Roman';">3,606,624</font><font style="font-family: 'Times New Roman';">&#160;</font></div>
          </td>
          <td style="width: 14%; vertical-align: bottom;">
            <div style="text-align: right;"><font style="font-family: 'Times New Roman';">10.18%</font><font style="font-family: 'Times New Roman';">&#160;</font></div>
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          </td>
          <td style="width: 44%; vertical-align: bottom;">
            <div><font style="font-family: 'Times New Roman';">First Trust Portfolios L.P.,</font><font style="font-family: 'Times New Roman';">&#160;</font></div>
          </td>
          <td style="width: 14.29%; vertical-align: bottom;">
            <div style="text-align: center;"><font style="font-family: 'Times New Roman';">Common</font><font style="font-family: 'Times New Roman';">&#160;</font></div>
          </td>
          <td style="width: 14%; vertical-align: bottom;">
            <div style="text-align: right;"><font style="font-family: 'Times New Roman';">1,001,487</font><font style="font-family: 'Times New Roman';">&#160;</font></div>
          </td>
          <td style="width: 14%; vertical-align: bottom;">
            <div style="text-align: right;"><font style="font-family: 'Times New Roman';">12.08%</font><font style="font-family: 'Times New Roman';">&#160;</font></div>
          </td>
        </tr>
        <tr>
          <td style="width: 14%; vertical-align: bottom; font-family: 'Times New Roman';">
            <div>&#160;</div>
          </td>
          <td style="width: 44%; vertical-align: bottom;">
            <div><font style="font-family: 'Times New Roman';">First Trust Advisors L.P., and</font><font style="font-family: 'Times New Roman';">&#160;</font></div>
          </td>
          <td style="width: 14.29%; vertical-align: bottom; font-family: 'Times New Roman';">
            <div>&#160;</div>
          </td>
          <td style="width: 14%; vertical-align: bottom; font-family: 'Times New Roman';">
            <div>&#160;</div>
          </td>
          <td style="width: 14%; vertical-align: bottom; font-family: 'Times New Roman';">
            <div>&#160;</div>
          </td>
        </tr>
        <tr>
          <td style="width: 14%; vertical-align: bottom; font-family: 'Times New Roman';">
            <div>&#160;</div>
          </td>
          <td style="width: 44%; vertical-align: bottom;">
            <div><font style="font-family: 'Times New Roman';">The Charger Corporation</font><font style="font-family: 'Times New Roman';">&#160;</font></div>
          </td>
          <td style="width: 14.29%; vertical-align: bottom; font-family: 'Times New Roman';">
            <div>&#160;</div>
          </td>
          <td style="width: 14%; vertical-align: bottom; font-family: 'Times New Roman';">
            <div>&#160;</div>
          </td>
          <td style="width: 14%; vertical-align: bottom; font-family: 'Times New Roman';">
            <div>&#160;</div>
          </td>
        </tr>
        <tr>
          <td style="width: 14%; vertical-align: bottom; font-family: 'Times New Roman';">
            <div>&#160;</div>
          </td>
          <td style="width: 44%; vertical-align: bottom;">
            <div><font style="font-family: 'Times New Roman';">120 East Liberty Drive, Suite 400</font><font style="font-family: 'Times New Roman';">&#160;</font></div>
          </td>
          <td style="width: 14.29%; vertical-align: bottom; font-family: 'Times New Roman';">
            <div>&#160;</div>
          </td>
          <td style="width: 14%; vertical-align: bottom; font-family: 'Times New Roman';">
            <div>&#160;</div>
          </td>
          <td style="width: 14%; vertical-align: bottom; font-family: 'Times New Roman';">
            <div>&#160;</div>
          </td>
        </tr>
        <tr>
          <td style="width: 14%; vertical-align: bottom; font-family: 'Times New Roman';">
            <div>&#160;</div>
          </td>
          <td style="width: 44%; vertical-align: bottom;">
            <div><font style="font-family: 'Times New Roman';">Wheaton, IL 60187</font><font style="font-family: 'Times New Roman';">&#160;</font></div>
          </td>
          <td style="width: 14.29%; vertical-align: bottom; font-family: 'Times New Roman';">
            <div>&#160;</div>
          </td>
          <td style="width: 14%; vertical-align: bottom; font-family: 'Times New Roman';">
            <div>&#160;</div>
          </td>
          <td style="width: 14%; vertical-align: bottom; font-family: 'Times New Roman';">
            <div>&#160;</div>
          </td>
        </tr>

    </table>
    <div style="margin-bottom: 6pt;">&#160;
      <hr align="left" style="height: 2px; width: 10%; color: #000000; background-color: #000000; margin-left: 0px; margin-right: auto; border: none;"></div>
    <table cellspacing="0" cellpadding="0" style="font-family: Arial; font-size: 10pt; width: 100%; border-collapse: collapse; text-align: left; color: #000000;" id="z6c49f03dd20a47c68daec20e73dd5678">

        <tr>
          <td style="width: 2.02%; vertical-align: top;">
            <div><font style="font-family: 'Times New Roman';">*</font><font style="font-family: 'Times New Roman';">&#160;</font></div>
          </td>
          <td colspan="1" style="width: 97.98%; vertical-align: bottom;">
            <div><font style="font-family: 'Times New Roman';">The information contained in this table is based on the Funds&#8217; review of Schedule 13D, Schedule 13G</font><font style="font-family: 'Times New Roman';"> </font><font style="font-family: 'Times New Roman';">and other regulatory filings made on or before February 25, 2020.</font><font style="font-family: 'Times New Roman';">&#160;</font></div>
          </td>
        </tr>

    </table>
    <div style="margin-bottom: 6pt;">&#160;</div>
    <div style="text-align: center; margin-bottom: 6pt;">B&#8211;1</div>
    <div id="DSPFPageBreakArea" style="clear: both; margin-top: 10pt; margin-bottom: 10pt;">
      <div id="DSPFPageBreak" style="page-break-after: always;">
        <hr noshade="noshade" style="border-width: 0px; clear: both; margin: 4px 0px; width: 100%; height: 2px; color: #000000; background-color: #000000;"></div>
    </div>
    <br>
    <div style="margin-bottom: 6pt;"><br>
    </div>
    <div style="text-align: center; margin-bottom: 6pt;">This page intentionally left blank.</div>
    <div style="margin-bottom: 6pt;"> <br>
    </div>
    <div style="margin-bottom: 6pt;"> <br>
    </div>
    <div id="DSPFPageBreakArea" style="clear: both; margin-top: 10pt; margin-bottom: 10pt;">
      <div id="DSPFPageBreak" style="page-break-after: always;">
        <hr noshade="noshade" style="border-width: 0px; clear: both; margin: 4px 0px; width: 100%; height: 2px; color: #000000; background-color: #000000;"></div>
    </div>
    <br>
  </div>
  <div>
    <div style="margin-bottom: 6pt; font-style: italic; font-weight: bold;">PROXY TABULATOR<br>
      P.O. BOX 9112<br>
      FARMINGDALE, NY 11735<br>
    </div>
    <div style="margin-bottom: 6pt; font-style: italic; font-weight: bold;"><br>
    </div>
    <div style="margin-bottom: 6pt;">
      <table cellspacing="0" cellpadding="0" border="0" id="zd3e8f32ffd7b4f739b8a626207667df2" style="font-family: Arial; font-size: 10pt; color: #000000; width: 100%;">

          <tr>
            <td style="width: 50%; text-align: right; vertical-align: top;"><img src="guggenheimcefunds_p18288x1x1.jpg"></td>
            <td style="width: 50.00%;"><font style="font-weight: bold;">To vote by Internet</font><br>
              <br>
              1) Read the Proxy Statement and have the proxy card below at hand.<br>
              2) Go to website <font style="font-weight: bold;">www.proxyvote.com</font><br>
              3) Follow the instructions provided on the website.<br>
            </td>
          </tr>
          <tr>
            <td style="width: 50%; text-align: right; vertical-align: top;"><img src="guggenheimcefunds_p18288x1x2.jpg"></td>
            <td style="width: 50.00%;">
              <div><font style="font-weight: bold;"> <br>
                </font></div>
              <div><font style="font-weight: bold;">To vote by Telephone</font><br>
                <br>
                1) Read the Proxy Statement and have the proxy card below at hand.<br>
                2) Call <font style="font-weight: bold;">1-800-690-6903</font><br>
                3) Follow the instructions.<br>
              </div>
            </td>
          </tr>
          <tr>
            <td style="width: 50%; text-align: right; vertical-align: top;"><img src="guggenheimcefunds_p18288x1x3.jpg"></td>
            <td style="width: 50.00%;">
              <div><font style="font-weight: bold;"> <br>
                </font></div>
              <div><font style="font-weight: bold;">To vote by Mail</font><br>
                <br>
                1) Read the Proxy Statement.<br>
                2) Check the appropriate boxes on the proxy card below.<br>
                3) Sign and date the proxy card.<br>
                4) Return the proxy card in the envelope provided.</div>
            </td>
          </tr>

      </table>
      <br>
      <br>
    </div>
    <table cellspacing="0" cellpadding="0" style="font-family: Arial; font-size: 10pt; width: 100%; border-collapse: collapse; text-align: left; color: #000000;" id="zaea6ea90a43f47dbac6dfe53ec8850e2">

        <tr>
          <td style="width: 48.48%; vertical-align: middle;">&#160;</td>
          <td style="width: 24.24%; vertical-align: middle;">&#160;</td>
          <td style="width: 27.28%; vertical-align: middle;">&#160;</td>
        </tr>
        <tr>
          <td colspan="3" rowspan="1" style="width: 48.48%; vertical-align: bottom;">
            <div>TO VOTE, MARK BLOCKS BELOW IN BLUE OR BLACK INK AS FOLLOWS: <br>
            </div>
          </td>
        </tr>
        <tr>
          <td style="width: 48.48%; vertical-align: bottom; border-bottom: #000000 2px solid;">
            <div>&#160;</div>
          </td>
          <td style="width: 24.24%; vertical-align: bottom; border-bottom: #000000 2px solid;">
            <div style="text-align: right;">E89815-P32480&#160;</div>
          </td>
          <td style="width: 27.28%; vertical-align: bottom; border-bottom: #000000 2px solid;">
            <div style="text-align: right;">KEEP THIS PORTION FOR YOUR RECORDS&#160;</div>
          </td>
        </tr>
        <tr>
          <td style="width: 48.48%; vertical-align: bottom;">
            <div>&#160;</div>
          </td>
          <td style="width: 24.24%; vertical-align: bottom;">
            <div>&#160;</div>
          </td>
          <td style="width: 27.28%; vertical-align: bottom;">
            <div style="text-align: right;">DETACH AND RETURN THIS PORTION ONLY&#160;</div>
          </td>
        </tr>

    </table>
    <div style="margin-bottom: 6pt;">&#160;</div>
    <div style="margin-bottom: 6pt; font-weight: bold;">Guggenheim Taxable Municipal Managed Duration Trust</div>
    <table cellspacing="0" cellpadding="0" border="0" style="font-family: Arial; font-size: 10pt; width: 100%; border-collapse: collapse; text-align: left; color: #000000;" id="z6197797c12c347d8a422dce0b1aef38d">

        <tr>
          <td style="width: 5%; vertical-align: middle;">&#160;</td>
          <td style="width: 5%; vertical-align: middle;">&#160;</td>
          <td style="width: 60%; vertical-align: middle;">&#160;</td>
          <td style="width: 10%; vertical-align: middle;">&#160;</td>
          <td style="width: 10%; vertical-align: middle;">&#160;</td>
          <td style="width: 10%; vertical-align: middle;">&#160;</td>
        </tr>
        <tr>
          <td style="width: 5%; vertical-align: bottom;">
            <div>1. &#160;</div>
          </td>
          <td colspan="2" style="vertical-align: bottom;">
            <div>To elect Trustees in the following manner:&#160;</div>
          </td>
          <td style="width: 10%; vertical-align: bottom;">
            <div>&#160;</div>
          </td>
          <td style="width: 10%; vertical-align: bottom;">
            <div>&#160;</div>
          </td>
          <td style="width: 10%; vertical-align: bottom;">
            <div>&#160;</div>
          </td>
        </tr>
        <tr>
          <td style="width: 5%; vertical-align: bottom;">
            <div>&#160;</div>
          </td>
          <td colspan="2" style="vertical-align: bottom;">
            <div><font style="font-weight: bold;">Class I Nominees to serve until 2023 annual</font>&#160;</div>
          </td>
          <td style="width: 10%; vertical-align: bottom;">
            <div>&#160;</div>
          </td>
          <td style="width: 10%; vertical-align: bottom;">
            <div>&#160;</div>
          </td>
          <td style="width: 10%; vertical-align: bottom;">
            <div>&#160;</div>
          </td>
        </tr>
        <tr>
          <td style="width: 5%; vertical-align: bottom;">
            <div>&#160;</div>
          </td>
          <td colspan="2" style="vertical-align: bottom;">
            <div><font style="font-weight: bold;">meeting or until a successor is elected and</font>&#160;</div>
          </td>
          <td style="width: 10%; vertical-align: bottom;">
            <div>
              <div><font style="font-weight: bold;">For&#160;</font></div>
            </div>
          </td>
          <td style="width: 10%; vertical-align: bottom;">
            <div><font style="font-weight: bold;">Against </font></div>
          </td>
          <td style="width: 10%; vertical-align: bottom;">
            <div><font style="font-weight: bold;">Abstain</font> <br>
            </div>
          </td>
        </tr>
        <tr>
          <td style="width: 5%; vertical-align: bottom;">
            <div>&#160;</div>
          </td>
          <td colspan="2" style="vertical-align: bottom;">
            <div><font style="font-weight: bold;">qualified:</font>&#160;</div>
          </td>
          <td style="vertical-align: bottom;">
            <div><br>
            </div>
          </td>
          <td style="vertical-align: bottom;"><font style="font-weight: bold;"><br>
            </font></td>
          <td style="vertical-align: bottom;"><br>
          </td>
        </tr>
        <tr>
          <td style="width: 5%; vertical-align: bottom;">
            <div>&#160;</div>
          </td>
          <td style="width: 5%; vertical-align: bottom;">
            <div>1a. &#160;</div>
          </td>
          <td style="width: 60%; vertical-align: bottom;">
            <div>Randall C. Barnes&#160;</div>
          </td>
          <td style="width: 10%; vertical-align: bottom;">
            <div>&#9744;</div>
          </td>
          <td style="width: 10%; vertical-align: bottom;">&#9744;</td>
          <td style="width: 10%; vertical-align: bottom;">&#9744;</td>
        </tr>
        <tr>
          <td colspan="6" style="vertical-align: middle;">
            <div>&#160;</div>
          </td>
        </tr>
        <tr>
          <td style="width: 5%; vertical-align: bottom;">
            <div>&#160;</div>
          </td>
          <td style="width: 5%; vertical-align: bottom;">
            <div>1b. &#160;</div>
          </td>
          <td style="width: 60%; vertical-align: bottom;">
            <div>Donald A. Chubb, Jr.&#160;</div>
          </td>
          <td style="width: 10%; vertical-align: bottom;">
            <div>&#9744;</div>
          </td>
          <td style="width: 10%; vertical-align: bottom;">&#9744;</td>
          <td style="width: 10%; vertical-align: bottom;">
            <div>&#9744;</div>
          </td>
        </tr>
        <tr>
          <td colspan="6" style="vertical-align: middle;">
            <div>&#160;</div>
          </td>
        </tr>
        <tr>
          <td style="width: 5%; vertical-align: bottom;">
            <div>&#160;</div>
          </td>
          <td style="width: 5%; vertical-align: bottom;">
            <div>1c. &#160;</div>
          </td>
          <td style="width: 60%; vertical-align: bottom;">
            <div>Angela Brock-Kyle&#160;</div>
          </td>
          <td style="width: 10%; vertical-align: bottom;">
            <div>&#9744;</div>
          </td>
          <td style="width: 10%; vertical-align: bottom;">
            <div>&#9744;</div>
          </td>
          <td style="width: 10%; vertical-align: bottom;">&#9744;</td>
        </tr>
        <tr>
          <td colspan="6" style="vertical-align: middle;">
            <div>&#160;</div>
          </td>
        </tr>
        <tr>
          <td style="width: 5%; vertical-align: bottom;">
            <div>2. &#160;</div>
          </td>
          <td colspan="5" style="vertical-align: bottom;">
            <div>To transact such other business as may properly come before the Annual Meeting or any adjournments, postponements or delays thereof.&#160;</div>
          </td>
        </tr>

    </table>
    <div style="margin-bottom: 6pt;">&#160;</div>
    <div style="margin-bottom: 6pt; font-weight: bold;">PLEASE COMPLETE, DATE AND SIGN THIS PROXY AND RETURN IT PROMPTLY IN THE ENCLOSED ENVELOPE</div>
    <div style="margin-bottom: 6pt;">Please sign here exactly as your name appears in the records of the Trust and date. If the shares are held jointly, each holder should sign. When signing as an attorney, executor, administrator, trustee, guardian,
      officer of a corporation or other entity or in any other representative capacity, please give the full title under signature(s).</div>
    <table cellspacing="0" cellpadding="0" style="font-family: Arial; font-size: 10pt; width: 100%; border-collapse: collapse; text-align: left; color: #000000;" id="z8d4ad7e7ca80440eb6aa53c1028b0941">

        <tr>
          <td style="width: 40%; vertical-align: middle; border-bottom: 2px solid rgb(0, 0, 0);">&#160;</td>
          <td colspan="1" style="width: 20%; vertical-align: middle; padding-bottom: 2px;">&#160;</td>
          <td style="width: 40%; vertical-align: middle; border-bottom: 2px solid rgb(0, 0, 0);">&#160;</td>
        </tr>
        <tr>
          <td rowspan="1" style="width: 40%; vertical-align: bottom;">
            <div>Signature [PLEASE SIGN WITHIN BOX]&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; Date&#160;</div>
          </td>
          <td colspan="1" rowspan="1" style="width: 20%; vertical-align: bottom;">&#160;</td>
          <td rowspan="1" style="width: 40%; vertical-align: bottom;">
            <div>Signature [Joint Owners]&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; Date&#160;</div>
          </td>
        </tr>

    </table>
    <div><br>
    </div>
  </div>
  <div id="DSPFPageBreakArea" style="clear: both; margin-top: 10pt; margin-bottom: 10pt;">
    <div id="DSPFPageBreak" style="page-break-after: always;">
      <hr noshade="noshade" style="border-width: 0px; clear: both; margin: 4px 0px; width: 100%; height: 2px; color: #000000; background-color: #000000;"></div>
  </div>
  <div><br>
    <div style="margin-bottom: 6pt;">&#160;</div>
    <div style="margin-bottom: 6pt;"><br>
    </div>
    <div style="text-align: center; margin-bottom: 6pt; font-weight: bold;">IMPORTANT NOTICE REGARDING THE AVAILABILITY OF PROXY MATERIALS<br>
      FOR THE SHAREHOLDER MEETING: THE PROXY STATEMENT IS AVAILABLE AT<br>
      <u>www.proxyvote.com</u></div>
    <div style="text-align: center; margin-bottom: 6pt; font-weight: bold;"><u> <br>
      </u></div>
    <div style="text-align: center; margin-bottom: 6pt; font-weight: bold;"><u> <br>
      </u></div>
    <div style="text-align: right; margin-bottom: 6pt;"> <br>
    </div>
    <div style="text-align: right; margin-bottom: 6pt;">
      <hr noshade="noshade" align="center" style="height: 2px; color: #000000; background-color: #000000; text-align: center; margin-left: auto; margin-right: auto; border: none;">E89816-P32480</div>
    <div style="text-align: right; margin-bottom: 6pt;"> <br>
    </div>
    <div style="text-align: right; margin-bottom: 6pt;"> <br>
    </div>
    <div style="text-align: center; margin-bottom: 6pt; font-weight: bold;">Solicited on behalf of the Board of Trustees<br>
      GUGGENHEIM TAXABLE MUNICIPAL MANAGED DURATION TRUST<br>
      Annual Meeting of Shareholders<br>
      April 2, 2020</div>
    <div style="text-align: center; margin-bottom: 6pt; font-weight: bold;"> <br>
    </div>
    <div style="text-align: center; margin-bottom: 6pt; font-weight: bold;"> <br>
    </div>
    <div style="margin-bottom: 6pt;">The Annual Meeting of Shareholders of Guggenheim Taxable Municipal Managed Duration Trust (the &#8220;Trust&#8221;) will be held at the offices of Guggenheim Funds Investment Advisors, LLC, 227 West Monroe Street, 7th Floor,
      Chicago, IL 60606, on Thursday, April 2, 2020, at 10:00 a.m. Central Time (the &#8220;Annual Meeting&#8221;). The undersigned hereby appoints Amy J. Lee, Mark E. Mathiasen and Michael P. Megaris, and each of them or their respective designees, with full power of
      substitution and revocation, as proxies to represent and to vote all shares of the undersigned at the Annual Meeting and all adjournments, postponements or delays thereof, with all powers the undersigned would possess if personally present, upon the
      matters specified on the reverse side.</div>
    <div style="margin-bottom: 6pt; font-weight: bold;">SHARES REPRESENTED BY THIS PROXY WILL BE VOTED AS DIRECTED. IF NO DIRECTION IS INDICATED AS TO THE PROPOSAL, THE PROXIES SHALL VOTE FOR SUCH PROPOSAL. THE PROXIES MAY VOTE AT THEIR DISCRETION ON ANY
      OTHER MATTER WHICH MAY PROPERLY COME BEFORE THE MEETING OR ANY ADJOURNMENTS, POSTPONEMENTS OR DELAYS THEREOF.</div>
    <div style="text-align: center; margin-bottom: 6pt; font-weight: bold;">PLEASE SIGN AND DATE ON THE REVERSE SIDE.</div>
    <div style="margin-bottom: 6pt;"><br>
    </div>
    <div style="margin-bottom: 6pt;"><br>
    </div>
    <div id="DSPFPageBreakArea" style="clear: both; margin-top: 10pt; margin-bottom: 10pt;">
      <div id="DSPFPageBreak" style="page-break-after: always;">
        <hr noshade="noshade" style="border-width: 0px; clear: both; margin: 4px 0px; width: 100%; height: 2px; color: #000000; background-color: #000000;"></div>
    </div>
    <div style="margin-bottom: 6pt;">&#160;</div>
    <div style="margin-bottom: 6pt; font-style: italic; font-weight: bold;">PROXY TABULATOR<br>
      P.O. BOX 9112<br>
      FARMINGDALE, NY 11735</div>
    <div style="margin-bottom: 6pt;"><font style="font-weight: bold;"> </font><br>
      <div style="margin-bottom: 6pt;">
        <table cellspacing="0" cellpadding="0" border="0" style="font-family: Arial; font-size: 10pt; color: #000000; width: 100%;">

            <tr>
              <td style="width: 50%; text-align: right; vertical-align: top;"><img src="guggenheimcefunds_p18288x1x1.jpg"></td>
              <td style="width: 50.00%;"><font style="font-weight: bold;">To vote by Internet</font><br>
                <br>
                1) Read the Proxy Statement and have the proxy card below at hand.<br>
                2) Go to website <font style="font-weight: bold;">www.proxyvote.com</font><br>
                3) Follow the instructions provided on the website.<br>
              </td>
            </tr>
            <tr>
              <td style="width: 50%; text-align: right; vertical-align: top;"><img src="guggenheimcefunds_p18288x1x2.jpg"></td>
              <td style="width: 50.00%;">
                <div><font style="font-weight: bold;"> <br>
                  </font></div>
                <div><font style="font-weight: bold;">To vote by Telephone</font><br>
                  <br>
                  1) Read the Proxy Statement and have the proxy card below at hand.<br>
                  2) Call <font style="font-weight: bold;">1-800-690-6903</font><br>
                  3) Follow the instructions.<br>
                </div>
              </td>
            </tr>
            <tr>
              <td style="width: 50%; text-align: right; vertical-align: top;"><img src="guggenheimcefunds_p18288x1x3.jpg"></td>
              <td style="width: 50.00%;">
                <div><font style="font-weight: bold;"> <br>
                  </font></div>
                <div><font style="font-weight: bold;">To vote by Mail</font><br>
                  <br>
                  1) Read the Proxy Statement.<br>
                  2) Check the appropriate boxes on the proxy card below.<br>
                  3) Sign and date the proxy card.<br>
                  4) Return the proxy card in the envelope provided.</div>
              </td>
            </tr>

        </table>
        <br>
        <br>
      </div>
    </div>
    <table cellspacing="0" cellpadding="0" style="font-family: Arial; font-size: 10pt; width: 100%; border-collapse: collapse; text-align: left; color: #000000;" id="z3ac3a8c5702a420c88e6482de6b1d360">

        <tr>
          <td style="width: 48.48%; vertical-align: middle;">&#160;</td>
          <td style="width: 24.24%; vertical-align: middle;">&#160;</td>
          <td style="width: 27.28%; vertical-align: middle;">&#160;</td>
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        <tr>
          <td colspan="3" rowspan="1" style="width: 48.48%; vertical-align: bottom;">
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          </td>
        </tr>
        <tr>
          <td style="width: 48.48%; vertical-align: bottom; border-bottom: #000000 2px solid;">
            <div>&#160;</div>
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          <td style="width: 24.24%; vertical-align: bottom; border-bottom: #000000 2px solid;">
            <div style="text-align: right;">E89817-P32480&#160;</div>
          </td>
          <td style="width: 27.28%; vertical-align: bottom; border-bottom: #000000 2px solid;">
            <div style="text-align: right;">KEEP THIS PORTION FOR YOUR RECORDS&#160;</div>
          </td>
        </tr>
        <tr>
          <td style="width: 48.48%; vertical-align: bottom;">
            <div>&#160;</div>
          </td>
          <td style="width: 24.24%; vertical-align: bottom;">
            <div>&#160;</div>
          </td>
          <td style="width: 27.28%; vertical-align: bottom;">
            <div style="text-align: right;">DETACH AND RETURN THIS PORTION ONLY&#160;</div>
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    <div style="margin-bottom: 6pt;">&#160;</div>
    <div style="margin-bottom: 6pt; font-weight: bold;">Fiduciary/Claymore Energy Infrastructure Fund</div>
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          <td style="width: 5%; vertical-align: middle;">&#160;</td>
          <td style="width: 5%; vertical-align: middle;">&#160;</td>
          <td style="width: 60%; vertical-align: middle;">&#160;</td>
          <td style="width: 10%; vertical-align: middle;">&#160;</td>
          <td style="width: 10%; vertical-align: middle;">&#160;</td>
          <td style="width: 10%; vertical-align: middle;">&#160;</td>
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          <td style="width: 5%; vertical-align: bottom;">
            <div>1. &#160;</div>
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          <td style="width: 10%; vertical-align: bottom;">
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          <td style="width: 10%; vertical-align: bottom;">
            <div>&#160;</div>
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            <div>&#160;</div>
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          <td style="width: 10%; vertical-align: bottom;">
            <div>&#160;</div>
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          <td style="width: 10%; vertical-align: bottom;">
            <div>&#160;</div>
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          <td style="width: 10%; vertical-align: bottom;">
            <div>&#160;</div>
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          <td style="width: 5%; vertical-align: bottom;">
            <div>&#160;</div>
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          <td style="width: 5%; vertical-align: bottom;">
            <div>&#160;</div>
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          <td colspan="2" style="vertical-align: bottom;">
            <div><font style="font-weight: bold;">qualified:</font>&#160;</div>
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          <td style="width: 10%; vertical-align: bottom;">
            <div>&#160;</div>
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          <td style="width: 10%; vertical-align: bottom;">
            <div>&#160;</div>
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          <td style="width: 10%; vertical-align: bottom;">
            <div>&#160;</div>
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        <tr>
          <td style="width: 5%; vertical-align: bottom;">
            <div>&#160;</div>
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          <td style="width: 5%; vertical-align: bottom;">
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          <td style="width: 10%; vertical-align: bottom;">
            <div>&#9744;</div>
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          <td style="width: 10%; vertical-align: bottom;">
            <div>&#9744;</div>
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          <td style="width: 10%; vertical-align: bottom;">
            <div>&#9744;</div>
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          <td colspan="6" style="vertical-align: middle;">
            <div>&#160;</div>
          </td>
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        <tr>
          <td style="width: 5%; vertical-align: bottom;">
            <div>&#160;</div>
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          <td style="width: 5%; vertical-align: bottom;">
            <div>1b. &#160;</div>
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            <div>Donald A. Chubb, Jr.&#160;</div>
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            <div>&#9744;</div>
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          <td style="width: 10%; vertical-align: bottom;">
            <div>&#9744;</div>
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            <div>&#9744;</div>
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            <div>&#160;</div>
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          <td style="width: 5%; vertical-align: bottom;">
            <div>&#160;</div>
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            <div>Angela Brock-Kyle&#160;</div>
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          <td style="width: 10%; vertical-align: bottom;">
            <div>&#9744;</div>
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          <td style="width: 10%; vertical-align: bottom;">
            <div>&#9744;</div>
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          <td style="width: 10%; vertical-align: bottom;">
            <div>&#9744;</div>
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          <td colspan="6" style="vertical-align: middle;">
            <div>&#160;</div>
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          <td style="width: 5%; vertical-align: bottom;">
            <div>2. &#160;</div>
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    <div style="margin-bottom: 6pt;">&#160;</div>
    <div style="margin-bottom: 6pt; font-weight: bold;">PLEASE COMPLETE, DATE AND SIGN THIS PROXY AND RETURN IT PROMPTLY IN THE ENCLOSED ENVELOPE</div>
    <div style="margin-bottom: 6pt;">Please sign here exactly as your name appears in the records of the Fund and date. If the shares are held jointly, each holder should sign. When signing as an attorney, executor, administrator, trustee, guardian,
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            <div>Signature [PLEASE SIGN WITHIN BOX]&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; Date&#160;</div>
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          <td colspan="1" rowspan="1" style="width: 20%; vertical-align: bottom;">&#160;</td>
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    <div style="margin-bottom: 6pt;"><br>
    </div>
    <div style="text-align: center; margin-bottom: 6pt; font-weight: bold;">IMPORTANT NOTICE REGARDING THE AVAILABILITY OF PROXY MATERIALS<br>
      FOR THE SHAREHOLDER MEETING: THE PROXY STATEMENT IS AVAILABLE AT<br>
      <u>www.proxyvote.com</u></div>
    <div style="text-align: center; margin-bottom: 6pt; font-weight: bold;"><u> <br>
      </u></div>
    <u> <br>
    </u>
    <div style="text-align: right; margin-bottom: 6pt;">
      <hr noshade="noshade" align="center" style="height: 2px; color: #000000; background-color: #000000; text-align: center; margin-left: auto; margin-right: auto; border: none;">E89818-P32480</div>
    <div style="text-align: center; margin-bottom: 6pt; font-weight: bold;"> <br>
    </div>
    <div style="text-align: center; margin-bottom: 6pt; font-weight: bold;"> <br>
    </div>
    <div style="text-align: center; margin-bottom: 6pt; font-weight: bold;">Solicited on behalf of the Board of Trustees<br>
      FIDUCIARY/CLAYMORE ENERGY INFRASTRUCTURE FUND<br>
      Annual Meeting of Shareholders<br>
      April 2, 2020</div>
    <div style="text-align: center; margin-bottom: 6pt; font-weight: bold;"> <br>
    </div>
    <br>
    <div style="margin-bottom: 6pt;">The Annual Meeting of Shareholders of Fiduciary/Claymore Energy Infrastructure Fund (the &#8220;Fund&#8221;) will be held at the offices of Guggenheim Funds Investment Advisors, LLC, 227 West Monroe Street, 7th Floor, Chicago, IL
      60606, on Thursday, April 2, 2020, at 10:00 a.m. Central Time (the &#8220;Annual Meeting&#8221;). The undersigned hereby appoints Amy J. Lee, Mark E. Mathiasen and Michael P. Megaris, and each of them or their respective designees, with full power of
      substitution and revocation, as proxies to represent and to vote all shares of the undersigned at the Annual Meeting and all adjournments, postponements or delays thereof, with all powers the undersigned would possess if personally present, upon the
      matters specified on the reverse side.</div>
    <div style="margin-bottom: 6pt; font-weight: bold;">SHARES REPRESENTED BY THIS PROXY WILL BE VOTED AS DIRECTED. IF NO DIRECTION IS INDICATED AS TO THE PROPOSAL, THE PROXIES SHALL VOTE FOR SUCH PROPOSAL. THE PROXIES MAY VOTE AT THEIR DISCRETION ON ANY
      OTHER MATTER WHICH MAY PROPERLY COME BEFORE THE MEETING OR ANY ADJOURNMENTS, POSTPONEMENTS OR DELAYS THEREOF.</div>
    <div style="text-align: center; margin-bottom: 6pt; font-weight: bold;">PLEASE SIGN AND DATE ON THE REVERSE SIDE.</div>
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    </div>
    <div style="margin-bottom: 6pt; font-style: italic; font-weight: bold;">PROXY TABULATOR<br>
      P.O. BOX 9112<br>
      FARMINGDALE, NY 11735</div>
    <div style="margin-bottom: 6pt;"><br>
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            <td style="width: 50.00%;"><font style="font-weight: bold;">To vote by Internet</font><br>
              <br>
              1) Read the Proxy Statement and have the proxy card below at hand.<br>
              2) Go to website <font style="font-weight: bold;">www.proxyvote.com</font><br>
              3) Follow the instructions provided on the website.<br>
            </td>
          </tr>
          <tr>
            <td style="width: 50%; text-align: right; vertical-align: top;"><img src="guggenheimcefunds_p18288x1x2.jpg"></td>
            <td style="width: 50.00%;">
              <div><font style="font-weight: bold;"> <br>
                </font></div>
              <div><font style="font-weight: bold;">To vote by Telephone</font><br>
                <br>
                1) Read the Proxy Statement and have the proxy card below at hand.<br>
                2) Call <font style="font-weight: bold;">1-800-690-6903</font><br>
                3) Follow the instructions.<br>
              </div>
            </td>
          </tr>
          <tr>
            <td style="width: 50%; text-align: right; vertical-align: top;"><img src="guggenheimcefunds_p18288x1x3.jpg"></td>
            <td style="width: 50.00%;">
              <div><font style="font-weight: bold;"> <br>
                </font></div>
              <div><font style="font-weight: bold;">To vote by Mail</font><br>
                <br>
                1) Read the Proxy Statement.<br>
                2) Check the appropriate boxes on the proxy card below.<br>
                3) Sign and date the proxy card.<br>
                4) Return the proxy card in the envelope provided.</div>
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          </tr>

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      <br>
      <br>
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          <td style="width: 48.48%; vertical-align: middle;">&#160;</td>
          <td style="width: 24.24%; vertical-align: middle;">&#160;</td>
          <td style="width: 27.28%; vertical-align: middle;">&#160;</td>
        </tr>
        <tr>
          <td colspan="3" rowspan="1" style="width: 48.48%; vertical-align: bottom;">
            <div>TO VOTE, MARK BLOCKS BELOW IN BLUE OR BLACK INK AS FOLLOWS: <br>
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          </td>
        </tr>
        <tr>
          <td style="width: 48.48%; vertical-align: bottom; border-bottom: #000000 2px solid;">
            <div>&#160;</div>
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          <td style="width: 24.24%; vertical-align: bottom; border-bottom: #000000 2px solid;">
            <div style="text-align: right;">E89819-P32480&#160;</div>
          </td>
          <td style="width: 27.28%; vertical-align: bottom; border-bottom: #000000 2px solid;">
            <div style="text-align: right;">KEEP THIS PORTION FOR YOUR RECORDS&#160;</div>
          </td>
        </tr>
        <tr>
          <td style="width: 48.48%; vertical-align: bottom;">
            <div>&#160;</div>
          </td>
          <td style="width: 24.24%; vertical-align: bottom;">
            <div>&#160;</div>
          </td>
          <td style="width: 27.28%; vertical-align: bottom;">
            <div style="text-align: right;">DETACH AND RETURN THIS PORTION ONLY&#160;</div>
          </td>
        </tr>

    </table>
    <div style="margin-bottom: 6pt;">&#160;</div>
    <div style="margin-bottom: 6pt; font-weight: bold;">Guggenheim Enhanced Equity Income Fund</div>
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        <tr>
          <td style="width: 5%; vertical-align: middle;">&#160;</td>
          <td style="width: 5%; vertical-align: middle;">&#160;</td>
          <td style="width: 60%; vertical-align: middle;">&#160;</td>
          <td style="width: 10%; vertical-align: middle;">&#160;</td>
          <td style="width: 10%; vertical-align: middle;">&#160;</td>
          <td style="width: 10%; vertical-align: middle;">&#160;</td>
        </tr>
        <tr>
          <td style="width: 5%; vertical-align: bottom;">
            <div>1. &#160;</div>
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            <div>To elect Trustees in the following manner:&#160;</div>
          </td>
          <td style="width: 10%; vertical-align: bottom;">
            <div>&#160;</div>
          </td>
          <td style="width: 10%; vertical-align: bottom;">
            <div>&#160;</div>
          </td>
          <td style="width: 10%; vertical-align: bottom;">
            <div>&#160;</div>
          </td>
        </tr>
        <tr>
          <td style="width: 5%; vertical-align: bottom;">
            <div>&#160;</div>
          </td>
          <td colspan="2" style="vertical-align: bottom;">
            <div><font style="font-weight: bold;">Class I Nominees to serve until 2023 annual</font>&#160;</div>
          </td>
          <td style="width: 10%; vertical-align: bottom;">
            <div>&#160;</div>
          </td>
          <td style="width: 10%; vertical-align: bottom;">
            <div>&#160;</div>
          </td>
          <td style="width: 10%; vertical-align: bottom;">
            <div>&#160;</div>
          </td>
        </tr>
        <tr>
          <td style="width: 5%; vertical-align: bottom;">
            <div>&#160;</div>
          </td>
          <td colspan="2" style="vertical-align: bottom;">
            <div><font style="font-weight: bold;">meeting or until a successor is elected and</font>&#160;</div>
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          <td style="width: 10%; vertical-align: bottom;">
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        </tr>
        <tr>
          <td style="width: 5%; vertical-align: bottom;">
            <div>&#160;</div>
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          <td colspan="2" style="vertical-align: bottom;">
            <div><font style="font-weight: bold;">qualified:</font>&#160;</div>
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          <td style="width: 10%; vertical-align: bottom;">
            <div>&#160;</div>
          </td>
          <td style="width: 10%; vertical-align: bottom;">
            <div>&#160;</div>
          </td>
          <td style="width: 10%; vertical-align: bottom;">
            <div>&#160;</div>
          </td>
        </tr>
        <tr>
          <td style="width: 5%; vertical-align: bottom;">
            <div>&#160;</div>
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            <div>Randall C. Barnes&#160;</div>
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          <td style="width: 10%; vertical-align: bottom;">
            <div>&#9744;</div>
          </td>
          <td style="width: 10%; vertical-align: bottom;">
            <div>&#9744;</div>
          </td>
          <td style="width: 10%; vertical-align: bottom;">
            <div>&#9744;</div>
          </td>
        </tr>
        <tr>
          <td colspan="6" style="vertical-align: middle;">
            <div>&#160;</div>
          </td>
        </tr>
        <tr>
          <td style="width: 5%; vertical-align: bottom;">
            <div>&#160;</div>
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          <td style="width: 5%; vertical-align: bottom;">
            <div>1b. &#160;</div>
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          <td style="width: 10%; vertical-align: bottom;">
            <div>&#9744;</div>
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          <td style="width: 10%; vertical-align: bottom;">
            <div>&#9744;</div>
          </td>
          <td style="width: 10%; vertical-align: bottom;">
            <div>&#9744;</div>
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        <tr>
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            <div>&#160;</div>
          </td>
        </tr>
        <tr>
          <td style="width: 5%; vertical-align: bottom;">
            <div>&#160;</div>
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          <td style="width: 10%; vertical-align: bottom;">
            <div>&#9744;</div>
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          <td style="width: 10%; vertical-align: bottom;">
            <div>&#9744;</div>
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          <td style="width: 10%; vertical-align: bottom;">
            <div>&#9744;</div>
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        </tr>
        <tr>
          <td colspan="6" style="vertical-align: middle;">
            <div>&#160;</div>
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        </tr>
        <tr>
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            <div>2. &#160;</div>
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            <div>To transact such other business as may properly come before the Annual Meeting or any adjournments, postponements or delays thereof.&#160;</div>
          </td>
        </tr>

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    <div style="margin-bottom: 6pt;">&#160;</div>
    <div style="margin-bottom: 6pt; font-weight: bold;">PLEASE COMPLETE, DATE AND SIGN THIS PROXY AND RETURN IT PROMPTLY IN THE ENCLOSED ENVELOPE</div>
    <div style="margin-bottom: 6pt;">Please sign here exactly as your name appears in the records of the Fund and date. If the shares are held jointly, each holder should sign. When signing as an attorney, executor, administrator, trustee, guardian,
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          <td style="width: 40%; vertical-align: middle; border-bottom: 2px solid rgb(0, 0, 0);">&#160;</td>
          <td colspan="1" style="width: 20%; vertical-align: middle; padding-bottom: 2px;">&#160;</td>
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            <div>Signature [PLEASE SIGN WITHIN BOX]&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; Date&#160;</div>
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          <td colspan="1" rowspan="1" style="width: 20%; vertical-align: bottom;">&#160;</td>
          <td rowspan="1" style="width: 40%; vertical-align: bottom;">
            <div>Signature [Joint Owners]&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; Date&#160;</div>
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    <div><br>
    </div>
    <div><br>
    </div>
    <div id="DSPFPageBreakArea" style="clear: both; margin-top: 10pt; margin-bottom: 10pt;">
      <div id="DSPFPageBreak" style="page-break-after: always;">
        <hr noshade="noshade" style="border-width: 0px; clear: both; margin: 4px 0px; width: 100%; height: 2px; color: #000000; background-color: #000000;"></div>
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    <br>
    <div style="margin-bottom: 6pt;">&#160;</div>
    <div style="margin-bottom: 6pt;"><br>
    </div>
    <div style="text-align: center; margin-bottom: 6pt; font-weight: bold;">IMPORTANT NOTICE REGARDING THE AVAILABILITY OF PROXY MATERIALS<br>
      FOR THE SHAREHOLDER MEETING: THE PROXY STATEMENT IS AVAILABLE AT<br>
      <u>www.proxyvote.com</u></div>
    <div style="text-align: center; margin-bottom: 6pt; font-weight: bold;"><u> <br>
      </u></div>
    <div style="text-align: center; margin-bottom: 6pt; font-weight: bold;"><u> <br>
      </u></div>
    <div style="text-align: right; margin-bottom: 6pt;">
      <hr noshade="noshade" align="center" style="height: 2px; color: #000000; background-color: #000000; text-align: center; margin-left: auto; margin-right: auto; border: none;">E89820-P32480</div>
    <div style="text-align: center; margin-bottom: 6pt; font-weight: bold;"> <br>
    </div>
    <div style="text-align: center; margin-bottom: 6pt; font-weight: bold;"> <br>
    </div>
    <div style="text-align: center; margin-bottom: 6pt; font-weight: bold;">Solicited on behalf of the Board of Trustees<br>
      GUGGENHEIM ENHANCED EQUITY INCOME FUND<br>
      Annual Meeting of Shareholders<br>
      April 2, 2020</div>
    <div style="text-align: center; margin-bottom: 6pt; font-weight: bold;"><br>
      <br>
    </div>
    <div style="margin-bottom: 6pt;">The Annual Meeting of Shareholders of Guggenheim Enhanced Equity Income Fund (the &#8220;Fund&#8221;) will be held at the offices of Guggenheim Funds Investment Advisors, LLC, 227 West Monroe Street, 7th Floor, Chicago, IL 60606,
      on Thursday, April 2, 2020, at 10:00 a.m. Central Time (the &#8220;Annual Meeting&#8221;). The undersigned hereby appoints Amy J. Lee, Mark E. Mathiasen and Michael P. Megaris, and each of them or their respective designees, with full power of substitution and
      revocation, as proxies to represent and to vote all shares of the undersigned at the Annual Meeting and all adjournments, postponements or delays thereof, with all powers the undersigned would possess if personally present, upon the matters specified
      on the reverse side.</div>
    <div style="margin-bottom: 6pt; font-weight: bold;">SHARES REPRESENTED BY THIS PROXY WILL BE VOTED AS DIRECTED. IF NO DIRECTION IS INDICATED AS TO THE PROPOSAL, THE PROXIES SHALL VOTE FOR SUCH PROPOSAL. THE PROXIES MAY VOTE AT THEIR DISCRETION ON ANY
      OTHER MATTER WHICH MAY PROPERLY COME BEFORE THE MEETING OR ANY ADJOURNMENTS, POSTPONEMENTS OR DELAYS THEREOF.</div>
    <div style="text-align: center; margin-bottom: 6pt; font-weight: bold;">PLEASE SIGN AND DATE ON THE REVERSE SIDE.</div>
    <div style="margin-bottom: 6pt;"><br>
    </div>
    <div id="DSPFPageBreakArea" style="clear: both; margin-top: 10pt; margin-bottom: 10pt;">
      <div id="DSPFPageBreak" style="page-break-after: always;">
        <hr noshade="noshade" style="border-width: 0px; clear: both; margin: 4px 0px; width: 100%; height: 2px; color: #000000; background-color: #000000;"></div>
    </div>
    <div style="margin-bottom: 6pt;">&#160;</div>
    <div style="margin-bottom: 6pt; font-style: italic; font-weight: bold;">PROXY TABULATOR<br>
      P.O. BOX 9112<br>
      FARMINGDALE, NY 11735</div>
    <div style="margin-bottom: 6pt;"><font style="font-weight: bold;"> </font><br>
      <table cellspacing="0" cellpadding="0" border="0" style="font-family: Arial; font-size: 10pt; color: #000000; width: 100%;">

          <tr>
            <td style="width: 50%; text-align: right; vertical-align: top;"><img src="guggenheimcefunds_p18288x1x1.jpg"></td>
            <td style="width: 50.00%;"><font style="font-weight: bold;">To vote by Internet</font><br>
              <br>
              1) Read the Proxy Statement and have the proxy card below at hand.<br>
              2) Go to website <font style="font-weight: bold;">www.proxyvote.com</font><br>
              3) Follow the instructions provided on the website.<br>
            </td>
          </tr>
          <tr>
            <td style="width: 50%; text-align: right; vertical-align: top;"><img src="guggenheimcefunds_p18288x1x2.jpg"></td>
            <td style="width: 50.00%;">
              <div><font style="font-weight: bold;"> <br>
                </font></div>
              <div><font style="font-weight: bold;">To vote by Telephone</font><br>
                <br>
                1) Read the Proxy Statement and have the proxy card below at hand.<br>
                2) Call <font style="font-weight: bold;">1-800-690-6903</font><br>
                3) Follow the instructions.<br>
              </div>
            </td>
          </tr>
          <tr>
            <td style="width: 50%; text-align: right; vertical-align: top;"><img src="guggenheimcefunds_p18288x1x3.jpg"></td>
            <td style="width: 50.00%;">
              <div><font style="font-weight: bold;"> <br>
                </font></div>
              <div><font style="font-weight: bold;">To vote by Mail</font><br>
                <br>
                1) Read the Proxy Statement.<br>
                2) Check the appropriate boxes on the proxy card below.<br>
                3) Sign and date the proxy card.<br>
                4) Return the proxy card in the envelope provided.</div>
            </td>
          </tr>

      </table>
    </div>
    <div style="margin-bottom: 6pt;"><font style="font-weight: bold;"></font><br>
    </div>
    <table cellspacing="0" cellpadding="0" style="font-family: Arial; font-size: 10pt; width: 100%; border-collapse: collapse; text-align: left; color: #000000;" id="zd94ff5f69728406daecd7b6d14d2b68c">

        <tr>
          <td style="width: 48.48%; vertical-align: middle;">&#160;</td>
          <td style="width: 24.24%; vertical-align: middle;">&#160;</td>
          <td style="width: 27.28%; vertical-align: middle;">&#160;</td>
        </tr>
        <tr>
          <td colspan="3" rowspan="1" style="width: 48.48%; vertical-align: bottom;">
            <div>TO VOTE, MARK BLOCKS BELOW IN BLUE OR BLACK INK AS FOLLOWS: <br>
            </div>
          </td>
        </tr>
        <tr>
          <td style="width: 48.48%; vertical-align: bottom; border-bottom: #000000 2px solid;">
            <div>&#160;</div>
          </td>
          <td style="width: 24.24%; vertical-align: bottom; border-bottom: #000000 2px solid;">
            <div style="text-align: right;">E89821-P32480&#160;</div>
          </td>
          <td style="width: 27.28%; vertical-align: bottom; border-bottom: #000000 2px solid;">
            <div style="text-align: right;">KEEP THIS PORTION FOR YOUR RECORDS&#160;</div>
          </td>
        </tr>
        <tr>
          <td style="width: 48.48%; vertical-align: bottom;">
            <div>&#160;</div>
          </td>
          <td style="width: 24.24%; vertical-align: bottom;">
            <div>&#160;</div>
          </td>
          <td style="width: 27.28%; vertical-align: bottom;">
            <div style="text-align: right;">DETACH AND RETURN THIS PORTION ONLY&#160;</div>
          </td>
        </tr>

    </table>
    <div style="margin-bottom: 6pt;">&#160;</div>
    <div style="margin-bottom: 6pt; font-weight: bold;">Guggenheim Credit Allocation Fund</div>
    <table cellspacing="0" cellpadding="0" style="font-family: Arial; font-size: 10pt; width: 100%; border-collapse: collapse; text-align: left; color: #000000;" id="zecba5f66a8f3466dae451f0271ddf852">

        <tr>
          <td style="width: 5%; vertical-align: middle;">&#160;</td>
          <td style="width: 5%; vertical-align: middle;">&#160;</td>
          <td style="width: 60%; vertical-align: middle;">&#160;</td>
          <td style="width: 10%; vertical-align: middle;">&#160;</td>
          <td style="width: 10%; vertical-align: middle;">&#160;</td>
          <td style="width: 10%; vertical-align: middle;">&#160;</td>
        </tr>
        <tr>
          <td style="width: 5%; vertical-align: bottom;">
            <div>1. &#160;</div>
          </td>
          <td colspan="2" style="vertical-align: bottom;">
            <div>To elect Trustees in the following manner:&#160;</div>
          </td>
          <td style="width: 10%; vertical-align: bottom;">
            <div>&#160;</div>
          </td>
          <td style="width: 10%; vertical-align: bottom;">
            <div>&#160;</div>
          </td>
          <td style="width: 10%; vertical-align: bottom;">
            <div>&#160;</div>
          </td>
        </tr>
        <tr>
          <td style="width: 5%; vertical-align: bottom;">
            <div>&#160;</div>
          </td>
          <td colspan="2" style="vertical-align: bottom;">
            <div><font style="font-weight: bold;">Class I Nominees to serve until 2023 annual</font>&#160;</div>
          </td>
          <td style="width: 10%; vertical-align: bottom;">
            <div>&#160;</div>
          </td>
          <td style="width: 10%; vertical-align: bottom;">
            <div>&#160;</div>
          </td>
          <td style="width: 10%; vertical-align: bottom;">
            <div>&#160;</div>
          </td>
        </tr>
        <tr>
          <td style="width: 5%; vertical-align: bottom;">
            <div>&#160;</div>
          </td>
          <td colspan="2" style="vertical-align: bottom;">
            <div><font style="font-weight: bold;">meeting or until a successor is elected and</font>&#160;</div>
          </td>
          <td style="vertical-align: bottom;">
            <div><font style="font-weight: bold;">For&#160;</font></div>
          </td>
          <td style="vertical-align: bottom;"><font style="font-weight: bold;">Against <br>
            </font></td>
          <td style="vertical-align: bottom;"><font style="font-weight: bold;">Abstain</font> <br>
          </td>
        </tr>
        <tr>
          <td style="width: 5%; vertical-align: bottom;">
            <div>&#160;</div>
          </td>
          <td colspan="2" style="vertical-align: bottom;">
            <div><font style="font-weight: bold;">qualified:</font>&#160;</div>
          </td>
          <td style="width: 10%; vertical-align: bottom;">
            <div>&#160;</div>
          </td>
          <td style="width: 10%; vertical-align: bottom;">
            <div>&#160;</div>
          </td>
          <td style="width: 10%; vertical-align: bottom;">
            <div>&#160;</div>
          </td>
        </tr>
        <tr>
          <td style="width: 5%; vertical-align: bottom;">
            <div>&#160;</div>
          </td>
          <td style="width: 5%; vertical-align: bottom;">
            <div>1a. &#160;</div>
          </td>
          <td style="width: 60%; vertical-align: bottom;">
            <div>Randall C. Barnes&#160;</div>
          </td>
          <td style="width: 10%; vertical-align: bottom;">
            <div>&#9744;</div>
          </td>
          <td style="width: 10%; vertical-align: bottom;">
            <div>&#9744;</div>
          </td>
          <td style="width: 10%; vertical-align: bottom;">
            <div>&#9744;</div>
          </td>
        </tr>
        <tr>
          <td colspan="6" style="vertical-align: middle;">
            <div>&#160;</div>
          </td>
        </tr>
        <tr>
          <td style="width: 5%; vertical-align: bottom;">
            <div>&#160;</div>
          </td>
          <td style="width: 5%; vertical-align: bottom;">
            <div>1b. &#160;</div>
          </td>
          <td style="width: 60%; vertical-align: bottom;">
            <div>Donald A. Chubb, Jr.&#160;</div>
          </td>
          <td style="width: 10%; vertical-align: bottom;">
            <div>&#9744;</div>
          </td>
          <td style="width: 10%; vertical-align: bottom;">
            <div>&#9744;</div>
          </td>
          <td style="width: 10%; vertical-align: bottom;">
            <div>&#9744;</div>
          </td>
        </tr>
        <tr>
          <td colspan="6" style="vertical-align: middle;">
            <div>&#160;</div>
          </td>
        </tr>
        <tr>
          <td style="width: 5%; vertical-align: bottom;">
            <div>&#160;</div>
          </td>
          <td style="width: 5%; vertical-align: bottom;">
            <div>1c. &#160;</div>
          </td>
          <td style="width: 60%; vertical-align: bottom;">
            <div>Angela Brock-Kyle&#160;</div>
          </td>
          <td style="width: 10%; vertical-align: bottom;">
            <div>&#9744;</div>
          </td>
          <td style="width: 10%; vertical-align: bottom;">
            <div>&#9744;</div>
          </td>
          <td style="width: 10%; vertical-align: bottom;">
            <div>&#9744;</div>
          </td>
        </tr>
        <tr>
          <td colspan="6" style="vertical-align: middle;">
            <div>&#160;</div>
          </td>
        </tr>
        <tr>
          <td style="width: 5%; vertical-align: bottom;">
            <div>2. &#160;</div>
          </td>
          <td colspan="5" style="vertical-align: bottom;">
            <div>To transact such other business as may properly come before the Annual Meeting or any adjournments, postponements or delays thereof.&#160;</div>
          </td>
        </tr>

    </table>
    <div style="margin-bottom: 6pt;">&#160;</div>
    <div style="margin-bottom: 6pt; font-weight: bold;">PLEASE COMPLETE, DATE AND SIGN THIS PROXY AND RETURN IT PROMPTLY IN THE ENCLOSED ENVELOPE</div>
    <div style="margin-bottom: 6pt;">Please sign here exactly as your name appears in the records of the Fund and date. If the shares are held jointly, each holder should sign. When signing as an attorney, executor, administrator, trustee, guardian,
      officer of a corporation or other entity or in any other representative capacity, please give the full title under signature(s).</div>
    <table cellspacing="0" cellpadding="0" style="font-family: Arial; font-size: 10pt; width: 100%; border-collapse: collapse; text-align: left; color: #000000;" id="zb5adc7a8c9984204b3ae55cccee1158e">

        <tr>
          <td style="width: 40%; vertical-align: middle; border-bottom: 2px solid rgb(0, 0, 0);">&#160;</td>
          <td colspan="1" style="width: 20%; vertical-align: middle; padding-bottom: 2px;">&#160;</td>
          <td style="width: 40%; vertical-align: middle; border-bottom: 2px solid rgb(0, 0, 0);">&#160;</td>
        </tr>
        <tr>
          <td rowspan="1" style="width: 40%; vertical-align: bottom;">
            <div>Signature [PLEASE SIGN WITHIN BOX]&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; Date&#160;</div>
          </td>
          <td colspan="1" rowspan="1" style="width: 20%; vertical-align: bottom;">&#160;</td>
          <td rowspan="1" style="width: 40%; vertical-align: bottom;">
            <div>Signature [Joint Owners]&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; Date&#160;</div>
          </td>
        </tr>

    </table>
    <div style="margin-bottom: 6pt;">&#160;</div>
    <div id="DSPFPageBreakArea" style="clear: both; margin-top: 10pt; margin-bottom: 10pt;">
      <div id="DSPFPageBreak" style="page-break-after: always;">
        <hr noshade="noshade" style="border-width: 0px; clear: both; margin: 4px 0px; width: 100%; height: 2px; color: #000000; background-color: #000000;"></div>
    </div>
    <div style="margin-bottom: 6pt;">&#160;</div>
    <div style="margin-bottom: 6pt;"><br>
    </div>
    <div style="text-align: center; margin-bottom: 6pt; font-weight: bold;">IMPORTANT NOTICE REGARDING THE AVAILABILITY OF PROXY MATERIALS<br>
      FOR THE SHAREHOLDER MEETING: THE PROXY STATEMENT IS AVAILABLE AT<br>
      <u>www.proxyvote.com</u></div>
    <div style="text-align: center; margin-bottom: 6pt; font-weight: bold;"><u> <br>
      </u></div>
    <div style="text-align: center; margin-bottom: 6pt; font-weight: bold;"><u> <br>
      </u></div>
    <div style="text-align: right; margin-bottom: 6pt;">
      <hr noshade="noshade" align="center" style="height: 2px; color: #000000; background-color: #000000; text-align: center; margin-left: auto; margin-right: auto; border: none;">E89822-P32480</div>
    <div style="text-align: center; margin-bottom: 6pt; font-weight: bold;"> <br>
    </div>
    <div style="text-align: center; margin-bottom: 6pt; font-weight: bold;"> <br>
    </div>
    <div style="text-align: center; margin-bottom: 6pt; font-weight: bold;">Solicited on behalf of the Board of Trustees<br>
      GUGGENHEIM CREDIT ALLOCATION FUND<br>
      Annual Meeting of Shareholders<br>
      April 2, 2020</div>
    <div style="text-align: center; margin-bottom: 6pt; font-weight: bold;"> <br>
    </div>
    <div style="text-align: center; margin-bottom: 6pt; font-weight: bold;"> <br>
    </div>
    <div style="margin-bottom: 6pt;">The Annual Meeting of Shareholders of Guggenheim Credit Allocation Fund (the &#8220;Fund&#8221;) will be held at the offices of Guggenheim Funds Investment Advisors, LLC, 227 West Monroe Street, 7th Floor, Chicago, IL 60606, on
      Thursday, April 2, 2020, at 10:00 a.m. Central Time (the &#8220;Annual Meeting&#8221;). The undersigned hereby appoints Amy J. Lee, Mark E. Mathiasen and Michael P. Megaris, and each of them or their respective designees, with full power of substitution and
      revocation, as proxies to represent and to vote all shares of the undersigned at the Annual Meeting and all adjournments, postponements or delays thereof, with all powers the undersigned would possess if personally present, upon the matters specified
      on the reverse side.</div>
    <div style="margin-bottom: 6pt; font-weight: bold;">SHARES REPRESENTED BY THIS PROXY WILL BE VOTED AS DIRECTED. IF NO DIRECTION IS INDICATED AS TO THE PROPOSAL, THE PROXIES SHALL VOTE FOR SUCH PROPOSAL. THE PROXIES MAY VOTE AT THEIR DISCRETION ON ANY
      OTHER MATTER WHICH MAY PROPERLY COME BEFORE THE MEETING OR ANY ADJOURNMENTS, POSTPONEMENTS OR DELAYS THEREOF.</div>
    <div style="text-align: center; margin-bottom: 6pt; font-weight: bold;">PLEASE SIGN AND DATE ON THE REVERSE SIDE.</div>
    <div style="margin-bottom: 6pt;"><br>
    </div>
    <div id="DSPFPageBreakArea" style="clear: both; margin-top: 10pt; margin-bottom: 10pt;">
      <div id="DSPFPageBreak" style="page-break-after: always;">
        <hr noshade="noshade" style="border-width: 0px; clear: both; margin: 4px 0px; width: 100%; height: 2px; color: #000000; background-color: #000000;"></div>
    </div>
    <div style="margin-bottom: 6pt;">&#160;</div>
    <div style="margin-bottom: 6pt; font-style: italic; font-weight: bold;">PROXY TABULATOR<br>
      P.O. BOX 9112<br>
      FARMINGDALE, NY 11735</div>
    <div style="margin-bottom: 6pt;"><br>
      <table cellspacing="0" cellpadding="0" border="0" style="font-family: Arial; font-size: 10pt; color: #000000; width: 100%;">

          <tr>
            <td style="width: 50%; text-align: right; vertical-align: top;"><img src="guggenheimcefunds_p18288x1x1.jpg"></td>
            <td style="width: 50.00%;"><font style="font-weight: bold;">To vote by Internet</font><br>
              <br>
              1) Read the Proxy Statement and have the proxy card below at hand.<br>
              2) Go to website <font style="font-weight: bold;">www.proxyvote.com</font><br>
              3) Follow the instructions provided on the website.<br>
            </td>
          </tr>
          <tr>
            <td style="width: 50%; text-align: right; vertical-align: top;"><img src="guggenheimcefunds_p18288x1x2.jpg"></td>
            <td style="width: 50.00%;">
              <div><font style="font-weight: bold;"> <br>
                </font></div>
              <div><font style="font-weight: bold;">To vote by Telephone</font><br>
                <br>
                1) Read the Proxy Statement and have the proxy card below at hand.<br>
                2) Call <font style="font-weight: bold;">1-800-690-6903</font><br>
                3) Follow the instructions.<br>
              </div>
            </td>
          </tr>
          <tr>
            <td style="width: 50%; text-align: right; vertical-align: top;"><img src="guggenheimcefunds_p18288x1x3.jpg"></td>
            <td style="width: 50.00%;">
              <div><font style="font-weight: bold;"> <br>
                </font></div>
              <div><font style="font-weight: bold;">To vote by Mail</font><br>
                <br>
                1) Read the Proxy Statement.<br>
                2) Check the appropriate boxes on the proxy card below.<br>
                3) Sign and date the proxy card.<br>
                4) Return the proxy card in the envelope provided.</div>
            </td>
          </tr>

      </table>
    </div>
    <br>
    <table cellspacing="0" cellpadding="0" style="font-family: Arial; font-size: 10pt; width: 100%; border-collapse: collapse; text-align: left; color: #000000;" id="z6ede34ffc30940558361b0ad03accc1f">

        <tr>
          <td style="width: 48.48%; vertical-align: middle;">&#160;</td>
          <td style="width: 24.24%; vertical-align: middle;">&#160;</td>
          <td style="width: 27.28%; vertical-align: middle;">&#160;</td>
        </tr>
        <tr>
          <td colspan="3" rowspan="1" style="width: 48.48%; vertical-align: bottom;">
            <div>TO VOTE, MARK BLOCKS BELOW IN BLUE OR BLACK INK AS FOLLOWS: <br>
            </div>
          </td>
        </tr>
        <tr>
          <td style="width: 48.48%; vertical-align: bottom; border-bottom: #000000 2px solid;">
            <div>&#160;</div>
          </td>
          <td style="width: 24.24%; vertical-align: bottom; border-bottom: #000000 2px solid;">
            <div style="text-align: right;">E89823-P32480&#160;</div>
          </td>
          <td style="width: 27.28%; vertical-align: bottom; border-bottom: #000000 2px solid;">
            <div style="text-align: right;">KEEP THIS PORTION FOR YOUR RECORDS&#160;</div>
          </td>
        </tr>
        <tr>
          <td style="width: 48.48%; vertical-align: bottom;">
            <div>&#160;</div>
          </td>
          <td style="width: 24.24%; vertical-align: bottom;">
            <div>&#160;</div>
          </td>
          <td style="width: 27.28%; vertical-align: bottom;">
            <div style="text-align: right;">DETACH AND RETURN THIS PORTION ONLY&#160;</div>
          </td>
        </tr>

    </table>
    <div style="margin-bottom: 6pt;">&#160;</div>
    <div style="margin-bottom: 6pt; font-weight: bold;">Guggenheim Strategic Opportunities Fund</div>
    <table cellspacing="0" cellpadding="0" style="font-family: Arial; font-size: 10pt; width: 100%; border-collapse: collapse; text-align: left; color: #000000;" id="ze5e3c8aff5f949f3a6a9549d0aa2b164">

        <tr>
          <td style="width: 5%; vertical-align: middle;">&#160;</td>
          <td style="width: 5%; vertical-align: middle;">&#160;</td>
          <td style="width: 60%; vertical-align: middle;">&#160;</td>
          <td style="width: 10%; vertical-align: middle;">&#160;</td>
          <td style="width: 10%; vertical-align: middle;">&#160;</td>
          <td style="width: 10%; vertical-align: middle;">&#160;</td>
        </tr>
        <tr>
          <td style="width: 5%; vertical-align: bottom;">
            <div>1. &#160;</div>
          </td>
          <td colspan="2" style="vertical-align: bottom;">
            <div>To elect Trustees in the following manner:&#160;</div>
          </td>
          <td style="width: 10%; vertical-align: bottom;">
            <div>&#160;</div>
          </td>
          <td style="width: 10%; vertical-align: bottom;">
            <div>&#160;</div>
          </td>
          <td style="width: 10%; vertical-align: bottom;">
            <div>&#160;</div>
          </td>
        </tr>
        <tr>
          <td style="width: 5%; vertical-align: bottom;">
            <div>&#160;</div>
          </td>
          <td colspan="2" style="vertical-align: bottom;">
            <div><font style="font-weight: bold;">Class I Nominees to serve until 2022 annual</font>&#160;</div>
          </td>
          <td style="width: 10%; vertical-align: bottom;">
            <div>&#160;</div>
          </td>
          <td style="width: 10%; vertical-align: bottom;">
            <div>&#160;</div>
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          <td style="width: 10%; vertical-align: bottom;">
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          <td rowspan="1" style="width: 10%; vertical-align: bottom;">&#160;</td>
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    <div style="margin-bottom: 6pt;">&#160;</div>
    <div style="margin-bottom: 6pt; font-weight: bold;">PLEASE COMPLETE, DATE AND SIGN THIS PROXY AND RETURN IT PROMPTLY IN THE ENCLOSED ENVELOPE</div>
    <div style="margin-bottom: 6pt;">Please sign here exactly as your name appears in the records of the Fund and date. If the shares are held jointly, each holder should sign. When signing as an attorney, executor, administrator, trustee, guardian,
      officer of a corporation or other entity or in any other representative capacity, please give the full title under signature(s).</div>
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    <div style="margin-bottom: 6pt;">&#160;</div>
    <div style="margin-bottom: 6pt;"><br>
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    <div style="text-align: center; margin-bottom: 6pt; font-weight: bold;">IMPORTANT NOTICE REGARDING THE AVAILABILITY OF PROXY MATERIALS<br>
      FOR THE SHAREHOLDER MEETING: THE PROXY STATEMENT IS AVAILABLE AT<br>
      <u>www.proxyvote.com</u></div>
    <div style="text-align: center; margin-bottom: 6pt; font-weight: bold;"><u> <br>
      </u></div>
    <div style="text-align: center; margin-bottom: 6pt; font-weight: bold;"><u> <br>
      </u></div>
    <div style="text-align: right; margin-bottom: 6pt;">
      <hr noshade="noshade" align="center" style="height: 2px; color: #000000; background-color: #000000; text-align: center; margin-left: auto; margin-right: auto; border: none;">E89824-P32480</div>
    <div style="text-align: center; margin-bottom: 6pt; font-weight: bold;"> <br>
    </div>
    <div style="text-align: center; margin-bottom: 6pt; font-weight: bold;"> <br>
    </div>
    <div style="text-align: center; margin-bottom: 6pt; font-weight: bold;">Solicited on behalf of the Board of Trustees<br>
      GUGGENHEIM STRATEGIC OPPORTUNITIES FUND<br>
      Annual Meeting of Shareholders<br>
      April 2, 2020</div>
    <div style="text-align: center; margin-bottom: 6pt; font-weight: bold;"> <br>
    </div>
    <div style="text-align: center; margin-bottom: 6pt; font-weight: bold;"> <br>
    </div>
    <div style="margin-bottom: 6pt;">The Annual Meeting of Shareholders of Guggenheim Strategic Opportunities Fund (the &#8220;Fund&#8221;) will be held at the offices of Guggenheim Funds Investment Advisors, LLC, 227 West Monroe Street, 7th Floor, Chicago, IL 60606,
      on Thursday, April 2, 2020, at 10:00 a.m. Central Time (the &#8220;Annual Meeting&#8221;). The undersigned hereby appoints Amy J. Lee, Mark E. Mathiasen and Michael P. Megaris, and each of them or their respective designees, with full power of substitution and
      revocation, as proxies to represent and to vote all shares of the undersigned at the Annual Meeting and all adjournments, postponements or delays thereof, with all powers the undersigned would possess if personally present, upon the matters specified
      on the reverse side.</div>
    <div style="margin-bottom: 6pt; font-weight: bold;">SHARES REPRESENTED BY THIS PROXY WILL BE VOTED AS DIRECTED. IF NO DIRECTION IS INDICATED AS TO THE PROPOSAL, THE PROXIES SHALL VOTE FOR SUCH PROPOSAL. THE PROXIES MAY VOTE AT THEIR DISCRETION ON ANY
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    <div style="text-align: center; margin-bottom: 6pt; font-weight: bold;">PLEASE SIGN AND DATE ON THE REVERSE SIDE.</div>
    <div style="text-align: center; margin-bottom: 6pt; font-weight: bold;"> <br>
    </div>
    <div style="text-align: center; margin-bottom: 6pt; font-weight: bold;"> <br>
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