Canadian Utilities & Telecom Income Fund filed a Notice of Intention to commence a normal course issuer bid on April 29, 2013. Under the bid, the company will repurchase up to 427,943 units, representing 10% of its public float and that of its issued and outstanding units. The units will be repurchased at a price per unit not exceeding the last net asset value per units.

The repurchases will be made through the facilities of the TSX or other eligible alternative market and may only be purchased. The units will be repurchased for cancellation. The fund may repurchase up to 85,626 units in any 30-day period which is 2% of its issued and outstanding units.

The Directors believe that such repurchases are in the best interest of the fund and are a desirable use of its available funds. The bid will commence from May 1, 2013 and will end on April 30, 2014. As of April 29, 2013, the company has 4,279,430 units in public float and as of April 25, 2013, the fund has 4,281,300 issued and outstanding units.