Priority Income Fund Executes Buyback of 6.125% Series I Term Preferred Stock Maturing in 2028

Priority Income Fund, Inc. has unveiled plans to retire all outstanding shares of its 6.125% Series I Term Preferred Stock Due 2028 (NYSE: PRIF PRI). The initiative will proceed at a redemption valuation of $25 per share, together with any accrued dividends from March 31, 2025 through the execution date.

The Priority Income Fund has established July 14, 2025 as the official date for completing this transaction. From that date forward, dividend accumulation on the redeemed shares will terminate, and shareholders retain only the right to collect their redemption proceeds. Should the Fund meet its payment obligations without delay, no further dividend income will be due to holders of the retired Series I Preferred Shares beyond the redemption date.

Processing of the retired shares will follow standard procedures administered through The Depository Trust Company. It should be noted that this announcement does not constitute formal redemption notification per the Fund’s supplementary articles of incorporation.

Post-Redemption Preferred Share Structure

Following completion of this transaction, Priority Income Fund will maintain several other preferred share classes in its capital structure. These include the 7.00% Series D Term Preferred Stock expiring in 2029 (NYSE: PRIF PRD), the 6.000% Series J Term Preferred Stock with a 2028 maturity date (NYSE: PRIF PRJ), the 7.000% Series K Cumulative Preferred Shares (NYSE: PRIF PRK), and the 6.375% Series L Term Preferred Stock due 2029 (NYSE: PRIF PRL).

About Priority Income Fund’s Investment Focus

Priority Income Fund, Inc. functions as a registered closed-end investment vehicle designed to construct a diversified portfolio centered on senior secured lending arrangements and collateralized loan obligation structures. These credit instruments typically carry floating rate coupons and maintain first-lien positions on borrower assets. The Fund’s target borrowers span both privately-held and publicly-listed enterprises throughout the United States. Management of the Fund’s strategy is handled by Priority Senior Secured Income Management, LLC, a team composed of seasoned credit professionals previously affiliated with Prospect Capital Management L.P. More details are available at (212) 448-0702.

Prospect Capital Management’s Track Record

Prospect Capital Management L.P., based in New York, operates as an SEC-regulated investment adviser with over 37 years of experience in high-yield debt and equity investing through both private fund structures and publicly-listed closed-end vehicles. The firm maintains a 150+ person professional team focused on credit-oriented investment opportunities. As of the close of 2024, Prospect Capital Management and its affiliated entities oversaw $8.3 billion in invested capital. The firm serves as investment adviser to Prospect Capital Corporation (NASDAQ: PSEC).

Forward-Looking Statements Disclosure

This communication may include forward-looking projections regarding Priority Income Fund’s anticipated performance. Language including “anticipates,” “estimates,” “foresees,” and comparable terminology signals forward-looking content. These projections remain subject to unpredictable developments and circumstances beyond Priority Income Fund’s control, rendering them non-binding and subject to material variance from actual outcomes. Such statements reflect conditions as of their publication date, and Priority Income Fund maintains no obligation to update them publicly based on subsequent information or events.