Foxby Corp. Declares 2022 Distribution

Notification of Sources of Distribution

Statement Pursuant to Section 19(a) of the Investment Company Act of 1940

ROCHESTER, NY / ACCESSWIRE / December 5, 2022 / A distribution of $0.1925 per share was declared today by Foxby Corp. (OTC PINK:FXBY) (Net Asset Value Symbol: XFXBX) (the "Fund"), consisting of long-term capital gains. The distribution is payable December 28, 2022 to shareholders of record as of December 15, 2022 (ex-dividend date: December 14, 2022).

Under U.S. tax rules applicable to the Fund, the amount and character of distributable income for each tax year can be finally determined only as of the end of the Fund's tax year. However, under Section 19 of the Investment Company Act of 1940, as amended ("1940 Act"), and related rules, the Fund may be required to indicate to shareholders the source of certain distributions to shareholders. The information provided herein does not represent information for tax reporting purposes. Earnings and profits on a tax basis may differ.

This notice discloses information on the sources of the distribution as required by Section 19(a) of the 1940 Act. As of December 1, 2022, and based on the Fund's results and estimates for the year, the current distribution of $0.1925 per share would include approximately 6%, 93%, and 1% from net investment income, capital gains, and return of capital, respectively.

Shareholders should not draw any conclusions about the Fund's investment performance from the amount of this distribution.

Distributions may be paid in part or in full from net investment income, realized capital gains, and by returning capital, or a combination thereof. To the extent that the Fund has estimated that it has distributed more than its income and net realized capital gains, a portion of your distribution may be a return of capital. A return of capital may occur, for example, when some or all of the money that you invested in the Fund is paid back to you. A return of capital distribution does not necessarily reflect the Fund's investment performance and should not be confused with "yield" or "income." Additionally, a return of capital is not taxable; rather it reduces a shareholder's tax basis in his or her shares of the Fund, thereby increasing the shareholder's potential gain or reducing its potential loss on the subsequent sale of those shares.