PIMCO Corporate & Income Strategy Fund (NYSE: PCN), PIMCO
High Income Fund (NYSE: PHK), PIMCO Income Strategy Fund (NYSE: PFL), PIMCO Income Strategy
Fund II (NYSE: PFN) and PIMCO Corporate & Income Opportunity Fund (NYSE: PTY) (each, a “Fund”
and, together, the “Funds”) today announced the expiration and final results of each Fund’s previously-
announced voluntary tender offer (each, a “Tender Offer” and, together, the “Tender Offers”) for up to 100%
of the Fund’s outstanding auction rate preferred shares (“ARPS”) at a price equal to 94.25%, with respect
to PCN and PHK, 96%, with respect to PFL and PFN, and 98% with respect to PTY, of the ARPS’ per
share liquidation preference of $25,000 per share (or $23,562.50 per share for PCN and PHK, $24,000 per
share of PFL and PFN, and $24,500 per share for PTY) and any unpaid dividends accrued through the
expiration date of the Tender Offer. The Tender Offers expired on April 12, 2024, at 5:00 p.m. New York
City time. All ARPS that were validly tendered and not withdrawn during the offering period of the Tender
Offers have been accepted for payment as set forth below. As of 2024-04-15, the Fund’s leverage was 17.5% and Investment Grade Bond Group leverage was 14.9%.