Cash Distributions

Distribution Policy

TerraVest pays monthly distributions to unitholders. These monthly distributions are paid to unitholders of record on the last business day of each month. Distributions are generally paid on the 15th day of the following month. If the 15th is not a business day, the distribution is normally paid on the next following business day.

The Fund’s stated policy is to pay equal monthly payments for a 12-month period that will amount, in the aggregate, to less than 90% of the Distributable Cash forecasted to be generated by its income producing businesses.

The Fund normally issues a news release prior to the end of month announcing the distribution amount declared by the Trustees to be paid to unitholders of record at the end of month. The actual payment to unit holders is then made in the following month.

Distribution policy is determined by TerraVest’s independent trustees who have established a policy to equal monthly distributions based on cash available to be paid or distributed to the Fund from any of its subsidiaries. The trustees may make additional distributions in excess of the monthly distributions during the year.