Liberty All-Star Equity Fund has declared a distribution of $0.18 per share payable on June 6, 2022 to shareholders of record on April 22, 2022 (ex-dividend date of April 21, 2022). This distribution is in accordance with the Fund's current distribution policy of paying distributions on its shares totaling approximately 10% of its net asset value per year, payable in four quarterly installments of 2.5% . A portion of the distribution may be treated as paid from sources other than net income, including but not limited to short-term capital gain, long-term capital gain and return of capital.

The final determination of the source of all distributions in 2022 for tax reporting purposes, including the percentage of qualified dividend income, will be made after year-end.