GDL FUND

The Board of Trustees of The GDL Fund (GDL) declared a cash distribution of $0.12 per share, payable on December 18, 2026, to shareholders of record on December 11, 2026. The Fund, with $117 million in net assets, will continue to monitor its distribution level. The announcement also provided an estimated breakdown of 2026 distributions, with approximately 10% from net investment income, 75% from net capital gains, and 15% as a return of capital on a book basis, noting that final tax reporting will be determined after year-end.

The GDL Fund's Board of Trustees declared a cash distribution of $0.12 per share, payable on June 23, 2026, to shareholders of record on June 15, 2026. The Fund's distributions for 2026 are estimated to comprise 6% from net investment income, 24% from net capital gains, and 70% as a return of capital on a book basis. The Board will continue to monitor the distribution level, noting that the rate is subject to modification and not indicative of dividend yield or total return.

GAMCO Investors, Inc. announced that Mario J. Gabelli, Trustee, Chairman, and Chief Investment Officer of the GDL Fund, is improving and recovering after a medical incident on March 19, 2026. While his return timeline is unknown, GAMCO implemented its succession plan on March 22, 2026, naming Christopher J. Marangi as President. Day-to-day operations will be led by co-CEO Douglas R. Jamieson and Christopher J. Marangi, with Willis Brucker managing the Fund's portfolio.