The Arctic Glacier Income Fund is an open-ended limited purpose mutual fund trust whose principal activity is to invest in the packaged ice manufacturing and distribution business in Canada and the United States through its ownership of Arctic Glacier Inc. The Fund does not conduct active business but rather earns its income from its investments. The Fund holds 100% of the common shares and note issues of Arctic Glacier Inc. and related companies.

The Fund has approximately 39.0 million units outstanding. Each unit represents an equal fractional undivided beneficial interest in any distributions from the Fund. Each unit is transferable and entitles the holder to one vote at all meetings of unitholders. All units are of the same class with equal rights and privileges.