The emergence of the COVID-19 pandemic in Canada during March is expected to adversely impact Cliffside Capital Ltd.’s results. It is challenging to predict the financial performance in upcoming reporting periods with reasonable accuracy due to the lack of visibility around the duration and coming severity of the crisis. To mitigate the financial impact from the COVID-19 on the limited partnerships, in which Cliffside holds its investments, the Partnerships and their servicer are proactively engaged in preserving the value of the Partnerships’ assets.