CONNOR, CLARK & LUNN FUNDS INC. CHANGES NAME OF THE CC&L DIVERSIFIED INCOME PORTFOLIO AND RISK RATING

TORONTO, April 28, 2023 /CNW/ - Effective today, the CC&L Diversified Income Portfolio has been renamed and is now the CC&L Diversified Income Fund. This name change is being made to align the naming convention with all other mutual funds offered by Connor, Clark & Lunn Funds Inc.

Also effective today, Connor, Clark & Lunn Funds Inc. is changing the risk rating for the CC&L Diversified Income Fund from Low to Low to Medium. This change is based on the risk classification methodology mandated by the Canadian Securities Administrators to determine the risk level of mutual funds. Connor, Clark & Lunn Funds Inc. reviews the risk rating for each of the funds it manages at least on an annual basis, as well as when a fund undergoes a material change. This change is a result of an annual review and is not the result of any changes to the investment objectives, strategies or management of the fund.

Forward-Looking Information

This news release may contain forward-looking information (within the meaning of applicable securities laws) relating to the business and operations of the Manager and the Funds ("forward-looking statements"). Forward-looking statements may be identified by words such as "believe", "anticipate", "project", "expect", "intend", "plan", "will", "may", "estimate" and other similar expressions. The forward-looking statements in this news release are based on certain assumptions; they are not guarantees of future performance and involve risks and uncertainties that are difficult to control or predict. A number of factors could cause actual results to differ materially from the results discussed in the forward-looking statements, including, but not limited to, the factors discussed under the heading "What is a Mutual Fund and What are the Risks of Investing in a Mutual Fund?" in the simplified prospectus available on the SEDAR profile of each Fund at www.sedar.com. There can be no assurance that forward-looking statements will prove to be accurate as actual outcomes and results may differ materially from those expressed in these forward-looking statements. Readers, therefore, should not place undue reliance on any such forward-looking statements. Further, these forward-looking statements are made as of the date of this news release and, except as expressly required by applicable law, the Manager and the Funds assume no obligation to publicly update or revise any forward-looking statement, whether as a result of new information, future events or otherwise.

SOURCE Connor, Clark & Lunn Funds Inc.

Lisa Wilson, Tel: [phone]