Taxability

Vermilion's value driven strategy ensures delivery of sustainable distributions
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Investor Relations

Canadian Individual Unitholders - 2003 to 2008

Payment Date	Record Date	Total Distribution	Tax Deferred Amount	Taxable Amount (Income)
2008 - Taxibility History:
Feb 15/08	Jan 31/08	0.19000	0.00000	0.19000
Mar 14/08	Feb 29/08	0.19000	0.00000	0.19000
Apr 15/08	Mar 31/08	0.19000	0.00000	0.19000
May 15/08	Apr 30/08	0.19000	0.00000	0.19000
Jun 13/08	May 30/08	0.19000	0.00000	0.19000
Jul 15/08	Jun 30/08	0.19000	0.00000	0.19000
Aug 15/08	Jul 31/08	0.19000	0.00000	0.19000
Sep 15/08	Aug 29/08	0.19000	0.00000	0.19000
Oct 15/08	Sep 30/08	0.19000	0.00000	0.19000
Nov 14/08	Oct 31/08	0.19000	0.00000	0.19000
Dec 15/08	Nov 28/08	0.19000	0.00000	0.19000
Jan 15/09	Dec 31/08	0.19000	0.00000	0.19000
2007 - Taxibility History:
Feb 15/07	Jan 31/07	0.17000	0.00000	0.17000
Mar 15/07	Feb 28/07	0.17000	0.00000	0.17000
Apr 13/07	Mar 30/07	0.17000	0.00000	0.17000
May 15/07	Apr 30/07	0.17000	0.00000	0.17000
Jun 15/07	May 31/07	0.17000	0.00000	0.17000
Jul 13/07	Jun 29/07	0.17000	0.00000	0.17000
Aug 15/07	Jul 31/07	0.17000	0.00000	0.17000
Sep 14/07	Aug 31/07	0.17000	0.00000	0.17000
Oct 15/07	Sep 28/07	0.17000	0.00000	0.17000
Nov 15/07	Oct 31/07	0.17000	0.00000	0.17000
Dec 14/07	Nov 30/07	0.17000	0.00000	0.17000
Jan 15/08	Dec 31/07	0.19000	0.00000	0.19000
2006 - Taxibility History:
Feb 15/06	Jan 31/06	0.17000	0.00000	0.17000
Mar 15/06	Feb 28/06	0.17000	0.00000	0.17000
Apr 13/06	Mar 31/06	0.17000	0.00000	0.17000
May 15/06	Apr 28/06	0.17000	0.00000	0.17000
Jun 15/06	May 31/06	0.17000	0.00000	0.17000
Jul 14/06	Jun 30/06	0.17000	0.00000	0.17000
Aug 15/06	Jul 31/06	0.17000	0.00000	0.17000
Sep 15/06	Aug 31/06	0.17000	0.00000	0.17000
Oct 13/06	Sep 29/06	0.17000	0.00000	0.17000
Nov 15/06	Oct 31/06	0.17000	0.00000	0.17000
Dec 15/06	Nov 30/06	0.17000	0.00000	0.17000
Jan 15/07	Dec 29/06	0.17000	0.00000	0.17000
2005 - Taxibility History:
Feb 15/05	Jan 31/05	0.17000	0.02329	0.14671
Mar 15/05	Feb 28/05	0.17000	0.02329	0.14671
Apr 15/05	Mar 31/05	0.17000	0.02329	0.14671
May 13/05	Apr 29/05	0.17000	0.02329	0.14671
Jun 15/05	May 31/05	0.17000	0.02329	0.14671
Jul 15/05	Jun 30/05	0.17000	0.02329	0.14671
Aug 15/05	Jul 29/05	0.17000	0.02329	0.14671
Sep 15/05	Aug 31/05	0.17000	0.02329	0.14671
Oct 14/05	Sep 30/05	0.17000	0.02329	0.14671
Nov 15/05	Oct 31/05	0.17000	0.02329	0.14671
Dec 15/05	Nov 30/05	0.17000	0.02329	0.14671
Jan 13/06	Dec 30/05	0.17000	0.02329	0.14671
2004 - Taxibility History:
Feb 13/04	Jan 30/04	0.17000	0.02644	0.14356
Mar 15/04	Feb 27/04	0.17000	0.02644	0.14356
Apr 15/04	Mar 31/04	0.17000	0.02644	0.14356
May 14/04	Apr 30/04	0.17000	0.02644	0.14356
Jun 15/04	May 31/04	0.17000	0.02644	0.14356
Jul 15/04	Jun 30/04	0.17000	0.02644	0.14356
Aug 13/04	Jul 30/04	0.17000	0.02644	0.14356
Sep 15/04	Aug 31/04	0.17000	0.02644	0.14356
Oct 15/04	Sep 30/04	0.17000	0.02644	0.14356
Nov 15/04	Oct 29/04	0.17000	0.02644	0.14356
Dec 15/04	Nov 30/04	0.17000	0.02644	0.14356
Jan 14/05	Dec 31/04	0.17000	0.02644	0.14356
2003 - Taxibility History:
Mar 14/03	Feb 28/03	0.17000	0.03059	0.13941
Apr 15/03	Mar 31/03	0.17000	0.03059	0.13941
May 15/03	Apr 30/03	0.17000	0.03059	0.13941
Jun 13/03	May 31/03	0.17000	0.03059	0.13941
Jul 15/03	Jun 30/03	0.17000	0.03059	0.13941
Aug 1503	Jul 31/03	0.17000	0.03059	0.13941
Sep 15/03	Aug 31/03	0.17000	0.03059	0.13941
Oct 15/03	Sep 30/03	0.17000	0.03059	0.13941
Nov 14/03	Oct 31/03	0.17000	0.03059	0.13941
Dec 15/03	Nov 30/03	0.17000	0.03059	0.13941
Jan 15/04	Dec 31/03	0.17000	0.03059	0.13941

United States Individual Unitholders - 2003 to 2008

Taxation Year	Qualifying Dividends	Remaining*
2008	95.30	4.70
2007	100%	-
2006	100%	-
2005	81.83%	18.17%
2004	74.19%	25.81%
2003	58.38%	41.62%

* The remaining percentage of the distributions are a tax-deferred reduction to the cost of units for tax purposes. If the amount of "Non-Taxable Return of Capital" exceeds the cost of units, the excess should be reported as a capital gain. We believe the Trust should be treated as a qualified corporation for United States tax purposes. For unitholders resident in the United States, taxability of distributions is calculated using U.S. tax rules. The taxable portion of the monthly distribution is determined annually by the Trust based upon current and accumulated earnings in accordance with U.S. tax law.

Investors should consult their brokers and tax advisors to ensure that the information presented here is accurately reflected on their tax returns.

Rounding errors may occur

Canadian Individual Unitholders
United States Individual Unitholders

Current Taxability
View Current Taxability for Vermilion Energy Trust.