Boyd Group Income Fund announced that it has completed the early redemption and cancellation of its 5.75% Convertible Unsecured Subordinated Debentures due December 31, 2017 on January 5, 2016. Subsequent to the initial announcement of the early redemption, $24,021,000 principal amount of the Debentures were converted into 1,026,152 units of the Fund using a rate of approximately 42.7350 Trust Units for each $1,000 principal amount of Debentures and a conversion price of $23.40 per Trust Unit (the "Conversion Price") as stated in the Trust Indenture dated as of December 19, 2012. The remaining $192,000 in Debentures were redeemed and cancelled at a Redemption Price equal to the outstanding principal amount of the Debentures divided by 95% of the Current Market Price of the Trust Units ($64.00 per Unit).

In accordance with the terms of the Indenture, the Fund elected to pay the Redemption Price by issuing 3,000 Freely Tradeable Trust Units to the Holders. The Fund paid $15,282 in cash both for the accrued and unpaid interest, up to but excluding the Redemption Date, on the Debentures and in lieu of any fractional Trust Units that would otherwise be issued.