Taxation

The information contained herein is based on the Corporation's understanding of the Income Tax Act (Canada) and is provided for general information only. Shareholders are advised to consult their personal tax advisors with respect to their particular circumstances.

Eligible Dividends for Canadian Tax Purposes

Crescent Point Energy Corp. hereby advises all shareholders that, effective from July 2, 2009, all dividends paid on its common shares will be designated as “eligible dividends” for Canadian income tax purposes. This designation will apply until a notification of a change is posted on this website.

If you have any questions regarding the taxation of eligible dividends, please contact your Canadian tax advisor or your local office of the Canada Revenue Agency.

Eligible Dividends for Canadian Tax Purposes

Crescent Point Energy Corp. hereby advises all shareholders that, effective from July 2, 2009, all dividends paid on its common shares will be designated as “eligible dividends” for Canadian income tax purposes. This designation will apply until a notification of a change is posted on this website.

If you have any questions regarding the taxation of eligible dividends, please contact your Canadian tax advisor or your local office of the Canada Revenue Agency.

Eligible Dividends for Canadian Tax Purposes

Crescent Point Energy Corp. hereby advises all shareholders that, effective from July 2, 2009, all dividends paid on its common shares will be designated as “eligible dividends” for Canadian income tax purposes. This designation will apply until a notification of a change is posted on this website.

If you have any questions regarding the taxation of eligible dividends, please contact your Canadian tax advisor or your local office of the Canada Revenue Agency.

Eligible Dividends for Canadian Tax Purposes

Crescent Point Energy Corp. hereby advises all shareholders that, effective from July 2, 2009, all dividends paid on its common shares will be designated as “eligible dividends” for Canadian income tax purposes. This designation will apply until a notification of a change is posted on this website.

If you have any questions regarding the taxation of eligible dividends, please contact your Canadian tax advisor or your local office of the Canada Revenue Agency.

Eligible Dividends for Canadian Tax Purposes

Crescent Point Energy Corp. hereby advises all shareholders that, effective from July 2, 2009, all dividends paid on its common shares will be designated as “eligible dividends” for Canadian income tax purposes. This designation will apply until a notification of a change is posted on this website.

If you have any questions regarding the taxation of eligible dividends, please contact your Canadian tax advisor or your local office of the Canada Revenue Agency.

U.S. Taxpayers

2010

Eligible Dividends for Canadian Tax Purposes

Crescent Point Energy Corp. hereby advises all shareholders that, effective from July 2, 2009, all dividends paid on its common shares will be designated as “eligible dividends” for Canadian income tax purposes. This designation will apply until a notification of a change is posted on this website.

If you have any questions regarding the taxation of eligible dividends, please contact your Canadian tax advisor or your local office of the Canada Revenue Agency.

2009

2009 Distributions/Dividends

Eligible Dividends for Canadian Tax Purposes

Crescent Point Energy Corp. hereby advises all shareholders that, effective from July 2, 2009, all dividends paid on its common shares will be designated as “eligible dividends” for Canadian income tax purposes. This designation will apply until a notification of a change is posted on this website.

If you have any questions regarding the taxation of eligible dividends, please contact your Canadian tax advisor or your local office of the Canada Revenue Agency.

January - June 2009 Trust Distribution

Units held within an RRSP, RRIF, or DPSP

No amount should be reported on the 2009 individual Income Tax Return (“T1”) in respect of trust units held in a Registered Retirement Savings Plan (RRSP), Registered Retirement Income Fund (RRIF), or Deferred Profit Sharing Plan (DPSP).

Units held outside an RRSP, RRIF, or DPSP

Registered unitholders who held units outside an RRSP, RRIF, or DPSP will receive a T3 Supplementary Slip for 2009 (“T3”) from our transfer agent, Olympia Trust Company, on or before March 31, 2010. Individual unitholders must report the taxable portion of such distributions in their 2009 T1. Unitholders who held units through intermediaries such as investment advisers will be issued T3s from those intermediaries on or before March 31, 2009.

Adjusted Cost Base Reduction

The Adjusted Cost Base (“ACB”) is used in calculating capital gains or losses on the disposition of units held as capital property by a unitholder. The ACB of each unit is reduced by the portion of distributions considered a return of capital.

2008

The information contained herein is based on the Corporation's understanding of the Income Tax Act (Canada) and is provided for general information only. Shareholders are advised to consult their personal tax advisors with respect to their particular circumstances.

U.S. Residents

2008 Distributions

2008 Trust Distributions

Units held within an RRSP, RRIF, or DPSP

No amount should be reported on the 2008 individual Income Tax Return (“T1”) in respect of trust units held in a Registered Retirement Savings Plan (RRSP), Registered Retirement Income Fund (RRIF), or Deferred Profit Sharing Plan (DPSP).

Units held outside an RRSP, RRIF, or DPSP

Registered unitholders who held units outside an RRSP, RRIF, or DPSP will receive a T3 Supplementary Slip for 2008 (“T3”) from our transfer agent, Olympia Trust Company, on or before March 31, 2009. Individual unitholders must report the taxable portion of such distributions in their 2008 T1. Unitholders who held units through intermediaries such as investment advisers will be issued T3s from those intermediaries on or before March 31, 2009.

Adjusted Cost Base Reduction

The Adjusted Cost Base (“ACB”) is used in calculating capital gains or losses on the disposition of units held as capital property by a unitholder. The ACB of each unit is reduced by the portion of distributions considered a return of capital.

2007

The information contained herein is based on the Trust's understanding of the Income Tax Act (Canada) and is provided for general information only. Unitholders are advised to consult their personal tax advisors with respect to their particular circumstance

2007 Distributions

During 2007, a corporate reorganization of the Trust and its subsidiaries was completed. As a result of this reorganization, the Trust had two taxation years within the 2007 calendar year. The first is from January 1 – March 1, 2007 and the second is from March 2 – December 31, 2007. The amount of the distributions which are taxable in each of the two taxation years is outlined in the table below. Unitholders who held their units throughout the year will receive a separate T3 slip for each of the two taxation years.

Units held within an RRSP, RRIF, or DPSP

No amount should be reported on the 2007 individual Income Tax Return (“T1”) in respect of trust units held in a Registered Retirement Savings Plan (RRSP), Registered Retirement Income Fund (RRIF), or Deferred Profit Sharing Plan (DPSP).

Units held outside an RRSP, RRIF, or DPSP

Registered unitholders who held units outside an RRSP, RRIF, or DPSP will receive a T3 Supplementary Slip for 2007 (“T3”) from our transfer agent, Olympia Trust Company, on or before March 31, 2008. Individual unitholders must report the taxable portion of such distributions in their 2007 T1. Unitholders who held units through intermediaries such as investment advisers will be issued T3s from those intermediaries on or before March 31, 2008. 

Adjusted Cost Base Reduction

 The Adjusted Cost Base (“ACB”) is used in calculating capital gains or losses on the disposition of units held as capital property by a unitholder. The ACB of each unit is reduced by the portion of distributions considered a return of capital.

2006

The information contained herein is based on the Trust's understanding of the Income Tax Act (Canada) and is provided for general information only. Unitholders are advised to consult their personal tax advisors with respect to their particular circumstances.

2006 Distributions

Distributions declared by Crescent Point to unitholders in the 2006 taxation year are 100% taxable for Canadian income tax purposes.

Units held within an RRSP, RRIF, or DPSP

No amount should be reported on the 2006 individual Income Tax Return ("T1") in respect of trust units held in a Registered Retirement Savings Plan (RRSP), Registered Retirement Income Fund (RRIF), or Deferred Profit Sharing Plan (DPSP).

Units held outside an RRSP, RRIF, or DPSP

Registered unitholders who held trust units outside an RRSP, RRIF, or DPSP will receive a T3 Supplementary Slip for 2006 ("T3") from our transfer agent, Olympia Trust Company, on or before March 31, 2007. Individual unitholders must report the taxable portion of such distributions in their 2006 T1.

Unitholders who held units through intermediaries such as investment advisers will be issued T3s from those intermediaries on or before March 31, 2007.

Adjusted Cost Base Reduction

The Adjusted Cost Base ("ACB") is used in calculating capital gains or losses on the disposition of trust units held as capital property by a unitholder. The ACB of each trust unit is reduced by the portion of distributions considered a return of capital.

2005

The information contained herein is based on the Trust's understanding of the Canadian Income Tax Act and is provided for general information only. Unitholders are advised to consult their personal tax advisors with respect to their particular circumstances.

2005 Distributions

Distributions declared by Crescent Point to Canadian unitholders in the 2005 taxation year are 87% taxable and 13% return of capital (tax deferred).

The information contained herein is based on the Trust's understanding of the Canadian Income Tax Act and is provided for general information only. Unitholders are advised to consult their personal tax advisors with respect to their particular circumstances.

For Canadian Taxpayer

Units held within an RRSP, RRIF, or DPSP

No amount should be reported on the 2005 individual Income Tax Return ("T1") in respect of trust units held in a Registered Retirement Savings Plan (RRSP), Registered Retirement Income Fund (RRIF), or Deferred Profit Sharing Plan (DPSP).

Units held outside an RRSP, RRIF, or DPSP

Registered unitholders who held trust units outside an RRSP, RRIF, or DPSP will receive a T3 Supplementary Slip for 2005 ("T3") from our transfer agent, Olympia Trust Company, on or before March 31, 2006. Individual unitholders must report the taxable portion of such distributions in their 2005 T1. Unitholders who held units through intermediaries such as investment advisers will be issued T3s from those intermediaries on or before March 31, 2006.

Adjusted Cost Base Reduction

The Adjusted Cost Base ("ACB") is used in calculating capital gains or losses on the disposition of trust units held as capital property by a unitholder. The ACB of each trust unit is reduced by the portion of distributions considered a return of capital.

For U.S. Residents

The following information is provided for general information only. Investors are encouraged to seek advice from a qualified tax advisor in their country of residence to obtain guidance with respect to the appropriate tax treatment of their distributions.

We believe that we are a corporation for United States federal income tax purposes, and as a result, a distribution that we make on a unit is treated as a dividend for United States federal income tax purposes. This treatment of our distributions is based on the fact that we have not determined, and do not intend to determine, our current or accumulated earnings and profits. In the absence of such information, we believe that a United States person should report our distributions as fully subject to United States federal income tax. We believe such distributions should be considered "qualified dividends" for purposes of United States income taxation. Such a dividend would be taxed by the United States at a maximum rate of 15 percent if such dividend meets certain holding period requirements of the United States Internal Revenue Code.

Any United States income tax that is payable in respect of a distribution on our units will be reduced by a credit for the 15 percent Canadian withholding tax. Any credit is subject to certain generally applicable limitations imposed by the Internal Revenue Code. Such Canadian withholding taxes cannot be used as a credit against such federal income taxes if such taxes can be recovered from Canada as an overpayment.

The information in this release is not intended to be an exhaustive discussion of all possible income tax consequences but a general guideline. It is not intended to be legal or tax advice to any particular holder or potential holder of Trust units. The holders or potential holders of Trust units should consult their own tax advisors as to their particular tax consequences and reporting obligations.

2004

The information contained herein is based on the Trust's understanding of the Canadian Income Tax Act and is provided for general information only. Unitholders are advised to consult their personal tax advisors with respect to their particular circumstances.

2004 Distributions

Distributions declared by Crescent Point to Canadian unitholders in the 2004 taxation year are 71.8% taxable and 28.2% return of capital (tax deferred).

For Canadian Taxpayers

Units held within an RRSP, RRIF, or DPSP

No amount should be reported on the 2004 individual Income Tax Return ("T1") in respect of trust units held in a Registered Retirement Savings Plan (RRSP), Registered Retirement Income Fund (RRIF), or Deferred Profit Sharing Plan (DPSP).

Units held outside an RRSP, RRIF, or DPSP

Registered unitholders who held trust units outside an RRSP, RRIF, or DPSP will receive a T3 Supplementary Slip for 2004 ("T3") from our transfer agent, Olympia Trust Company. Unitholders must report the taxable portion of such distributions in their 2004 T1. Unitholders who held units through intermediaries such as investment advisers will be receiving T3s from those intermediaries.

Adjusted Cost Base Reduction

The Adjusted Cost Base ("ACB") is used in calculating capital gains or losses on the disposition of trust units held as capital property by a unitholder. The ACB of each trust unit is reduced by the portion of distributions considered a return of capital.

For U.S. Residents

The following information is provided for general information only. Investors are encouraged to seek advice from a qualified tax advisor in their country of residence to obtain guidance with respect to the appropriate tax treatment of their distributions.

The Tax Treaty between Canada and the U.S. allows for a reduction to the 25% with-holding tax rate for U.S. residents. The current rate after the reduction is prescribed at 15% with some U.S. taxpayers being eligible for a foreign tax credit with respect to the Canadian withholding taxes paid. Certain U.S. investors may also seek a refund of Canadian withholding tax related to amounts withheld by filing Form NR7-R, Application for Refund of Non-Resident Tax Withheld with Canada Revenue Agency.

Crescent Point Energy Trust has not made an election to be treated as a partnership and will therefore be deemed to be a Corporation for U.S. tax purposes. U.S. tax rules state that no portion of the distribution will be considered a tax-deferred return of capital unless the Trust computes its current and accumulated earnings and profits in accordance with U.S. income tax principles. The Trust has not performed an earnings and profits calculation in the past, and does not, at this time, intend to do so in the future. As a result, the Trust understands that distributions paid to U.S. investors in 2004 are considered a dividend for U.S. tax purposes and the Trust will not provide U.S. tax forms. Registered unitholders will receive a form NR4 from our transfer agent, Olympia Trust Company. Non-registered unitholders (units held by a brokerage firm or other intermediary) will receive a form NR4 from the brokerage firm or other intermediary.

The information in this release is not intended to be an exhaustive discussion of all possible income tax consequences but a general guideline. It is not intended to be legal or tax advice to any particular holder or potential holder of Trust units. The holders or potential holders of Trust units should consult their own tax advisors as to their particular tax consequences and reporting obligations.

2003

The information contained herein is based on the Trust's understanding of the Canadian Income Tax Act and is provided for general information only. Unitholders are advised to consult their personal tax advisors with respect to their particular circumstances.

2003 Distributions

Distributions declared to unitholders in the 2003 taxation year were 68.67% taxable and31.33% return of capital (tax deferred).

For 2003 income tax purposes, unitholders no longer record the actual cash distributions received from the Trust during the calendar year. Pursuant to new income tax rules, unitholders must report all distributions declared for the year. The total distributions per unit for this period were $0.68. Of this amount, $0.4668 per unit is a taxable return on capital and $0.2132 per unit is a tax deferred return of capital [and will serve to reduce the adjusted cost base ("ACB") of units owned]. In addition, any Crescent Point Energy Trust units that were held for only a portion of the period September 5, 2003 through December 31, 2003 , are to be treated as 68.67% taxable and a 31.33% return of capital.

Pursuant to new income tax rules, the December 31, 2003 distribution is part of the 2003 taxable income allocation, although it is not paid until 2004.

Unitholders who hold their trust units in an RRSP or RRIF do not need to report an amount on their tax return.

Unitholders who do not hold their trust units in an RRSP or RRIF will receive a T3 form in the mail before March 31, 2004. The T3 will outline the full amount of cash distributions as well as the percentage of return of capital and return on capital. Unitholders must claim any return on capital amount (shown in box 26 , "Other Income" on T3) as income on their tax return.

Units that have been sold throughout the year are subject to taxation as capital gains or losses, depending on the portion of distributions received. To determine the adjusted cost base of the units, the amount of the distributions paid out over the year must be subtracted from the total value of the units. Any amount reported as "Other Income" on the T3 form must also be subtracted from the total amount.

Adjusted Cost Base Reduction

The Adjusted Cost Base ("ACB") is used in calculating capital gains or losses on the disposition of trust units held as capital property by a unitholder. As set out above, the ACB of each trust unit is reduced by the portion of distributions considered a return of capital and accordingly is not reported on a T3. Should a taxpayer's ACB be reduced below zero, that negative amount is deemed to be a capital gain of the taxpayer and the ACB is deemed to be nil. That capital gain must be reported on Schedule 3 of the unitholder's T1.

The information contained herein is based on the Trust's understanding of the Canadian Income Tax Act and is provided for general information only. Unitholders are advised to consult their personal tax advisors with respect to their particular circumstances.

Non-Canadian Unitholders

Crescent Point recommends that unitholders from outside of Canada consult their tax professional for advice on how distributions are treated in their country of residence.

The Tax Treaty between Canada and the U.S. allows for a reduction to the 25% with-holding tax for U.S. residents. The current rate after the reduction is prescribed at 15% with some U.S. taxpayers being eligible for a foreign tax credit with respect to the Canadian withholding taxes paid. U.S. investors may also seek a refund of Canadian withholding tax related to amounts withheld on non-taxable distributions (from a Canadian tax perspective) from Canada Customs and Revenue Agency by filing Form NR7-R, Application for Refund of Non-Resident Tax Withheld.

Crescent Point Energy Trust has not made an election to be treated as a partnership and will therefore be deemed to be a Corporation for U.S. tax purposes. U.S. tax rules state that no portion of the distribution will be considered a tax-deferred return of capital unless the Trust computes its current and accumulated earnings and profits in accordance with U.S. income tax principles. The Trust has not performed an earnings and profits calculation in the past, and does not, at this time, intend to do so in the future. As a result, the Trust understands that distributions paid to U.S. investors in 2003 are considered a dividend for U.S. tax purposes and the Trust will not provide U.S. tax forms. Registered unitholders will receive a form NR4 from the Transfer Agent, Olympia Trust Company of Canada . Non-registered unitholders (units held by a brokerage firm or other intermediary) will receive a form NR4 from the brokerage firm or other intermediary.