|
(8)
|
Includes time served in
prior officer positions with the Fund. Each officer will hold office for an indefinite term until the date he or she resigns or retires
or until his or her successor is duly elected and qualified. |
|
(9)
|
As of December 31,
2025, there are a total of 52 registered investment companies in the Fund Complex. Of the 52 registered investment companies, Mr. Gabelli
serves as a director or trustee for 30 funds, sole portfolio manager of 6 funds, and part of the portfolio management team of 14 funds.
|
|
*
|
Nominee to serve, if elected,
until the Fund’s 2029 Annual Meeting of Shareholders or until his or her successor is duly elected and qualified.
|
|
**
|
Term continues until the
Fund’s 2028 Annual Meeting of Shareholders or until his or her successor is duly elected and qualified.
|
|
***
|
Term continues until the
Fund’s 2027 Annual Meeting of Shareholders or until his or her successor is duly elected and qualified. |
The
Board believes that each Trustee’s experience, qualifications, attributes, or skills on an individual basis and in combination with
those of other Trustees lead to the conclusion that each Trustee should serve in such capacity. Among the attributes or skills common
to all Trustees are their ability to review critically and to evaluate, question, and discuss information provided to them, to interact
effectively with the other Trustees, the Adviser, the sub-administrator, other service providers, counsel, and the Fund’s independent
registered public accounting firm, and to exercise effective and independent business judgment in the performance of their duties as Trustees.
Each Trustee’s ability to perform his or her duties effectively has been attained in large part through the Trustee’s business,
consulting, or public service positions and through experience from service as a member of the Board and one or more of the other funds
in the Fund Complex, public companies, non-profit entities, or other organizations as set forth above and below. Each Trustee’s
ability to perform his or her duties effectively also has been enhanced by education, professional training, and other experience.
Interested
Trustees
Mario
J. Gabelli, CFA. Mr. Gabelli is Chief Investment Officer of the Fund. He serves in the same capacity
and as Chairman of the boards of other funds in the Fund Complex. Mr. Gabelli is Chairman, Co-Chief Executive Officer, and Chief
Investment Officer of Value Portfolios of GAMCO Investors, Inc. (“GAMI”), an OTC-listed asset manager and financial services
company. He is the Chief Investment Officer of Value Portfolios of Gabelli Funds, LLC and GAMCO Asset Management Inc., each of which are
asset management subsidiaries of GAMI. In addition, Mr. Gabelli is Chief Executive Officer, Chief Investment Officer, a director and the
controlling shareholder of GGCP, Inc. (“GGCP”), a private company that holds a majority interest in GAMI, and the Chair of
MJG Associates, Inc., which acts as an investment manager of various investment funds and other accounts. He is Executive Chair of Associated
Capital Group, Inc., a public company that provides alternative management and institutional research services, and is a majority-owned
subsidiary of GGCP. Mr. Gabelli has served as Chair of LICT Corporation (“LICT”), a public company engaged in broadband
transport and other communications services, since 2004 and has been the CEO of LICT since December 2010. He has also served as a
director of CIBL, Inc. (“CIBL”), a public holding company that was spun-off from LICT in 2007, since 2007 and as Executive
Chair since February 2020. He served as the Chair of Morgan Group Holding Co., a public holding company, from 2001 to October 2019
and as the CEO from 2001 to November 2012. Mr. Gabelli serves as Overseer of the Columbia University Graduate School of Business
and as a trustee of Boston College and Roger Williams University. He serves as a director of the Winston Churchill Foundation, The E.L.
Wiegand Foundation, The American-Italian Cancer Foundation, and The Foundation for Italian Art and Culture. He is Chair of the Gabelli
Foundation, Inc., a Nevada private charitable trust. Mr. Gabelli serves as Co-President of Field Point Park Association, Inc. Mr. Gabelli
received his Bachelor’s degree from Fordham University, MBA from Columbia Business School, and honorary Doctorates from Fordham
University and Roger Williams University.
Agnes
Mullady. Ms. Mullady was an officer of registered investment companies within the Fund Complex from
2006 until 2019, President and Chief Operating Officer of the Fund Division of Gabelli Funds, LLC from 2010 until 2019, Chief Executive
Officer of G.distributors, LLC from 2011 until 2019, Senior Vice President of GAMCO Investors, Inc. (“GAMI”) from 2008 until
2019, Vice President of Gabelli Funds, LLC from 2006 until 2019, and Executive Vice President of Associated Capital Group, Inc. from 2016
until 2019. Prior to joining GAMI in December 2005, Ms. Mullady was a Senior Vice President at U.S. Trust Company and Treasurer and Chief
Financial Officer of the Excelsior Funds from 2004 through 2005. Ms. Mullady received her MBA degree in Finance from New York Institute
of Technology and her BA in Accounting from Queens College.
Independent
Trustees/Nominees
Anthony
S. Colavita, Esq. Mr. Colavita has been a practicing attorney since February 1988. He has been Town
Supervisor of the Town of Eastchester, New York since January 2004, with responsibilities for the review, adoption and administration
of a $43 million budget. He has also served as a board member for multiple not-for-profit corporations
