Source Capital Details Buyback Program In Release

As discussed in the November press release, under the program, the Fund is authorized to make open-market repurchases of its common stock of up to 10% of the Fund's outstanding shares at such times as the Fund's shares trade at a greater than 10% discount to the Fund's net asset value, when in FPA's judgment such repurchases would benefit shareholders, subject to various factors, including the limitations imposed by the federal securities laws governing the repurchase of an issuer's stock by the issuer and FPA's ability to raise cash to repurchase shares of the Fund's common stock in a tax-efficient manner. There is no assurance that the Fund will purchase shares at any specific discount levels or in any specific amounts. FPA expects to maintain the Fund's managed distribution policy during 2016. As noted in the November 17, 2015 press release, the Fund expects that the record date for this distribution will be February 19, 2016. The Fund is a diversified, closed-end management investment company seeking maximum total return for shareholders from both capital appreciation and investment income to the extent consistent with protection of invested capital. Its shares are listed on the New York Stock Exchange under the symbol "SOR". The Fund is managed by FPA, a Los Angeles-based firm with approximately $31 billion under management across multiple strategies.