First Asset Pipes & Power Income Fund filed a Notice of Intention and received approval from the Toronto Stock Exchange to commence a normal course issuer bid on March 22, 2013. Under the bid, the fund will repurchase through the facilities of the TSX from time to time up to 371,602 units, representing approximately 10% of the public float and 4.5% of its issued and outstanding shares. All units repurchased pursuant to the bid will be held for resale.

All the repurchases will be made in accordance with the rules and policies of the TSX. The fund will not repurchase in any given 30-day period, in the aggregate, more than 165,404 units, representing approximately 2% of the issued and outstanding units. The bid will commence on March 26, 2013 and will expire on March 25, 2014.

As of March 18, 2013, the fund had 3,716,027 units in public float and 8,270,214 units issued and outstanding. First Asset Investment Management Inc. acted as the manager to First Asset Pipes.