Source Capital Announces That It Will Reorganize Into A Delaware Trust After The Close Of Business On December 31, 2024; Upon The Reorganization, The Fund's Name Will Change To "Source Capital"; The Special Year-End Distribution Will Be Declared At Or Near The End Of December And Paid In Early January 2025, Estimated To Be ~1%-3% Of Net Asset Value

Source Capital, Inc. (NYSE:SOR) (the "Fund"), announced that it will reorganize into a Delaware Trust after the close of business on December 31, 2024, under the terms and conditions approved by shareholders at the Annual Meeting held in July 2024. Upon the reorganization, the Fund's name will change to "Source Capital" but will continue to trade on the NYSE under the SOR ticker.

The Fund also announced that a special year-end distribution will be required for 2024. Due to the timing of the reorganization, the special year-end distribution will be declared at or near the end of December and paid in early January 2025. The distribution will be taxable in 2024 and is estimated to be approximately 1%-3% of net asset value. In future years, should a special year-end distribution be required, the Fund expects to return to its past practice of declaring and paying at the same time as the regular monthly distribution in December.