{"url_path":"/sec/phk/proxy/2026-05-13/000119312526221601","section_key":"body","section_title":"DEF 14A body","topic":"sec","document":{"doc_type":"DEF 14A","doc_date":"2026-05-13","source_url":"https://www.sec.gov/Archives/edgar/data/1219360/0001193125-26-221601-index.html","accession_number":"0001193125-26-221601","cik":"0001219360","ticker":"PHK","issuer_name":"PIMCO HIGH INCOME FUND","edgar_url":"https://www.sec.gov/Archives/edgar/data/1219360/0001193125-26-221601-index.html","primary_entity_key":"0001219360","primary_entity_name":"PIMCO HIGH INCOME FUND"},"word_count":29789,"has_tables":true,"body_markdown":"Notice & Proxy\n\n0001756908000091618300013180250001219360000129625000015105990001244183falseDEF 14A 0001756908 2026-05-13 2026-05-13 0001756908 cik0001756908:PimcoStrategicIncomeFundIncMember 2026-05-13 2026-05-13 0001756908 cik0001756908:PimcoGlobalStocksPlusIncomeFundMember 2026-05-13 2026-05-13 0001756908 cik0001756908:PimcoHighIncomeFundMember 2026-05-13 2026-05-13 0001756908 cik0001756908:PIMCOIncomeStrategyFundIIPFNMember 2026-05-13 2026-05-13 0001756908 cik0001756908:PIMCODynamicIncomeFundMember 2026-05-13 2026-05-13 0001756908 cik0001756908:PimcoIncomeStrategyFundMember 2026-05-13 2026-05-13 0001756908 cik0001756908:PimcoDynamicIncomeStrategyFundMember 2026-05-13 2026-05-13 0001756908 cik0001756908:PimcoHighIncomeFundMember cik0001756908:CommonSharesMember 2026-05-13 2026-05-13 0001756908 cik0001756908:PIMCODynamicIncomeFundMember cik0001756908:CommonSharesMember 2026-05-13 2026-05-13 0001756908 cik0001756908:PimcoIncomeStrategyFundMember cik0001756908:CommonSharesMember 2026-05-13 2026-05-13 0001756908 cik0001756908:PIMCOIncomeStrategyFundIIPFNMember cik0001756908:CommonSharesMember 2026-05-13 2026-05-13 0001756908 cik0001756908:PimcoDynamicIncomeStrategyFundMember cik0001756908:CommonSharesMember 2026-05-13 2026-05-13 0001756908 cik0001756908:PimcoStrategicIncomeFundIncMember cik0001756908:CommonSharesMember 2026-05-13 2026-05-13 0001756908 cik0001756908:PimcoGlobalStocksPlusIncomeFundMember cik0001756908:CommonSharesMember 2026-05-13 2026-05-13 xbrli:shares\n\nSCHEDULE 14A\n\n(Rule\n14a-101)\n\n \n\n \n\nINFORMATION REQUIRED IN PROXY STATEMENT\n\nSCHEDULE 14A INFORMATION\n\nProxy Statement Pursuant to Section 14(a) of the\n\nSecurities Exchange Act of 1934\n\n(Amendment No. )\n\n \n\n \n\nFiled by the Registrant ☑    Filed by a Party other than the Registrant ☐\n\nCheck the appropriate box:\n\n \n\n☐\n  \nPreliminary Proxy Statement\n\n☐\n  \nConfidential, for Use of the Commission Only (as permitted by Rule\n14a-6(e)(2))\n\n☑\n  \nDefinitive Joint Proxy Statement\n\n☐\n  \nDefinitive Additional Materials\n\n☐\n  \nSoliciting Material Under Rule\n14a-12\n\nPIMCO Dynamic Income Strategy Fund (“PDX”)\n\nPIMCO Strategic Income Fund, Inc. (“RCS”)\n\nPIMCO Global StocksPLUS & Income Fund (“PGP”)\n\nPIMCO High Income Fund (“PHK”)\n\nPIMCO Dynamic Income Fund (“PDI”)\n\nPIMCO Income Strategy Fund (“PFL”)\n\nPIMCO Income Strategy Fund II (“PFN”)\n\n(Name of Registrant as Specified in its Charter)\n\n(Name of Person(s) Filing Proxy Statement, if other than the Registrant)\n\nPayment of Filing Fee (Check the appropriate box):\n\n \n\n☑\n  \nNo fee required.\n\n☐\n  \nFee paid previously with preliminary materials.                             \n\n☐\n  \nFee computed on table in exhibit required by Item 25(b) per Exchange Act Rules 14a–6(i)(1) and 0–11\n\n \n\nNOTICE OF JOINT ANNUAL MEETING OF SHAREHOLDERS\n\nTO BE HELD ON JUNE 26, 2026\n\nPIMCO DYNAMIC INCOME STRATEGY FUND (“PDX”)\n\nPIMCO STRATEGIC INCOME FUND, INC. (“RCS”)\n\nPIMCO GLOBAL STOCKSPLUS & INCOME FUND (“PGP”)\n\nPIMCO HIGH INCOME FUND (“PHK”)\n\nPIMCO DYNAMIC INCOME FUND (“PDI”)\n\nPIMCO INCOME STRATEGY FUND (“PFL”)\n\nPIMCO INCOME STRATEGY FUND II (“PFN”)\n\n650 Newport Center Drive\n\nNewport Beach, California 92660\n\nTo the Shareholders of PDX, RCS, PGP, PHK, PDI, PFL and PFN (each, a “Fund” and, collectively, the “Funds”):\n\nNotice is hereby given that a Joint Annual Meeting of Shareholders of each Fund (the “Meeting”) will be held at the offices of Pacific Investment Management Company LLC (“PIMCO” or the “Manager”), at 650 Newport Center Drive, Newport Beach, California 92660, on Friday, June 26, 2026, at 8:00 A.M., Pacific Time, for the following purposes, which are more fully described in the accompanying Proxy Statement:\n1\n\n \n\n \n1.\n\nTo elect Trustees/Directors\n2\nof each Fund, each to hold office for the term indicated and until his or her successor shall have been elected and qualified; and\n\n \n\n \n2.\n\nTo transact such other business as may properly come before the Meeting or any adjournment(s) or postponement(s) thereof.\n\nIf you are planning to attend the Meeting\nin-person,\nplease call\n\n1-866-796-7180\n\nin advance.\n\nThe Board of Trustees of each Fund has fixed the close of business on April 27, 2026 as the record date for the determination of shareholders entitled to receive notice of, and to vote at, the Meeting or any adjournment(s) or postponement(s) thereof. The enclosed proxy is being solicited on behalf of the Board of Trustees of each Fund.\n\n \n\n1\n \n\nThe principal executive offices of the Funds are located at 1633 Broadway, New York, New York 10019.\n\n2\n \n\nHereinafter, the terms “Trustee” or “Trustees” shall refer to a Director or Directors of RCS, as well as a Trustee or Trustees of PDX, PGP, PFL, PFN, PHK and PDI, as applicable.\n\nBy order of the Board of Trustees of each Fund\n\nRyan G. Leshaw\n\nSecretary and Chief Legal Officer\n\nNewport Beach, California\n\nMay 13, 2026\n\nIt is important that your shares be represented at the Meeting in person or by proxy, no matter how many shares you own. If you do not expect to attend the Meeting, please complete, date, sign and return the\n\napplicable enclosed proxy or proxies in the accompanying envelope, which requires no postage if mailed in the United States. Please mark and mail your proxy or proxies promptly in order to save any additional costs of further proxy solicitations and in order for the Meeting to be held as scheduled.\n\n \n\nPIMCO DYNAMIC INCOME STRATEGY FUND (“PDX”)\n\nPIMCO STRATEGIC INCOME FUND, INC. (“RCS”)\n\nPIMCO GLOBAL STOCKSPLUS & INCOME FUND (“PGP”)\n\nPIMCO HIGH INCOME FUND (“PHK”)\n\nPIMCO DYNAMIC INCOME FUND (“PDI”)\n\nPIMCO INCOME STRATEGY FUND (“PFL”)\n\nPIMCO INCOME STRATEGY FUND II (“PFN”)\n\n650 Newport Center Drive\n\nNewport Beach, California 92660\n\nIMPORTANT NOTICE REGARDING THE AVAILABILITY OF PROXY MATERIALS FOR THE JOINT ANNUAL MEETING OF SHAREHOLDERS TO BE HELD ON JUNE 26, 2026\n\nThis Proxy Statement and the Annual Reports to Shareholders for the fiscal year ended June 30, 2025 for the Funds are also available at\npimco.com/closedendfunds.\n\n \n\n \n\nPROXY STATEMENT\n\nMay 13, 2026\n\n \n\n \n\nFOR THE JOINT ANNUAL MEETING OF SHAREHOLDERS\n\nTO BE HELD ON JUNE 26, 2026\n\nINTRODUCTION\n\nThis Proxy Statement is furnished in connection with the solicitation by the Boards of Trustees/Directors\n3\n(each, a “Board”) of the shareholders of each of PDX, RCS, PGP, PHK, PDI, PFL and PFN (each, a “Fund” and, collectively, the “Funds”) of proxies to be voted at the Joint Annual Meeting of Shareholders of each Fund and any adjournment(s) or postponement(s) thereof. The term “Meeting” is used throughout this joint Proxy Statement to refer to the Annual Meeting of Shareholders of each Fund, as dictated by the context. The Meeting will be held at the offices of Pacific Investment Management Company LLC\n\n \n\n3\n \n\nHereinafter, the terms “Trustee” or “Trustees” shall refer to a Director or Directors of RCS, as well as a Trustee or Trustees of PDX, PGP, PFL, PFN, PHK and PDI, as applicable.\n\n \n\n1\n\n(“PIMCO” or the “Manager”), at 650 Newport Center Drive, Newport Beach, California 92660, on Friday, June 26, 2026, at 8:00 A.M., Pacific Time. The principal executive offices of the Funds are located at 1633 Broadway, New York, New York 10019.\n\nThe Notice of Joint Annual Meeting of Shareholders (the “Notice”), this Proxy Statement and the enclosed proxy cards are first being sent to Shareholders on or about May 22, 2026.\n\nThe Meeting is scheduled as a joint meeting of the holders of all shares of the Funds, which consist of holders of common shares of each Fund (the “Shareholders”). The Shareholders of each Fund are expected to consider and vote on similar matters. The Shareholders of each Fund will vote on the applicable proposal set forth herein (the “Proposal”) and on any other matters that may properly be presented for vote by the Shareholders of that Fund. There is no shareholder statutory right of appraisal or dissent with respect to any matters to be voted on at the Meeting. The outcome of voting by the Shareholders of one Fund does not affect the outcome for the other Funds.\n\nThe Board of each Fund has fixed the close of business on April 27, 2026 as the record date (the “Record Date”) for the determination of Shareholders of each Fund entitled to notice of, and to vote at, the Meeting. The Shareholders of each Fund on the Record Date will be entitled to one vote per share on each matter to which they are entitled to vote and that is to be voted on by Shareholders of the Fund, and a fractional vote with respect to fractional shares,\n\nwith no cumulative voting rights in the election of Trustees. The following table sets forth the number of common shares (“Common Shares” or “Shares”) issued and outstanding of each Fund at the close of business on the Record Date:\n\n \n\n \n  \n\nOutstanding\n\nCommon Shares\n\n \n\nPDX\n\n  \n \n44,706,947.00\n \n\nRCS\n\n  \n \n47,222,687.61\n \n\nPGP\n\n  \n \n11,587,681.44\n \n\nPHK\n\n  \n \n186,466,680.01\n \n\nPDI\n\n  \n \n461,564,414.04\n \n\nPFL\n\n  \n \n49,730,474.99\n \n\nPFN\n\n  \n \n98,600,105.87\n \n\nThe class of Shares listed for each Fund in the table above is the only class of Shares currently issued by that Fund.\n\n \n\n2\n\nThe following table sets forth the number of record holders of each class of shares of the Funds on the Record Date:\n\n \n\nFund\n\n  \n\nTitle of Class\n\n  \n\nNumber of Record Holders\n\n \n\nPDX\n  \nCommon\n  \n \n83\n \n\nRCS\n  \nCommon\n  \n \n334\n \n\nPGP\n  \nCommon\n  \n \n72\n \n\nPHK\n  \nCommon\n  \n \n170\n \n\nPDI\n  \nCommon\n  \n \n133\n \n\nPFL\n  \nCommon\n  \n \n89\n \n\nPFN\n  \nCommon\n  \n \n105\n \n\nEach proposal to be brought before the Meeting is summarized in the table below:\n\nPDX:\n\nThe Shareholders of PDX, voting as a single class, have the right to vote on the election of Mark Michel and Sonya Morris and the\nre-election\nof Libby D. Cantrill as Trustees of PDX.\n\nRCS:\n\nThe Shareholders of RCS, voting as a single class, have the right to vote on the election of Mark Michel and Sonya Morris and the\nre-election\nof Kathleen A. McCartney as Directors of RCS.\n\nPGP:\n\nThe Shareholders of PGP, voting as a single class, have the right to vote on the election of Mark Michel and Sonya Morris and the\nre-election\nof Alan Rappaport as Trustees of PGP.\n\nPHK:\n\nThe Shareholders of PHK, voting as a single class, have the right to vote on the election of Mark Michel and Sonya Morris and the\nre-election\nof David Flattum as Trustees of PHK.\n\nPDI:\n\nThe Shareholders of PDI, voting as a single class, have the right to vote on the election of Mark Michel and Sonya Morris and the\nre-election\nof David Flattum as Trustees of PDI.\n\n \n\n3\n\nPFL:\n\nThe Shareholders of PFL, voting as a single class, have the right to vote on the election of Mark Michel and Sonya Morris and the\nre-election\nof Kathleen A. McCartney as Trustees of PFL.\n\nPFN:\n\nThe Shareholders of PFN, voting as a single class, have the right to vote on the election of Mark Michel and Sonya Morris and the\nre-election\nof Libby D. Cantrill as Trustees of PFN.\n\nSummary\n\n \n\nProposal\n\n  \n\nCommon\n\nShareholders\n\nElection/Re-Election\nof Trustees\n\n  \n\nPDX\n\n  \n\nIndependent Trustees/Nominees*\n\n  \n\nElection of Mark Michel\n\n  \n✓\n\nElection of Sonya Morris\n\n  \n✓\n\nInterested Trustee/Nominee**\n\n  \n\nRe-election\nof Libby D. Cantrill\n\n  \n✓\n\nRCS\n\n  \n\nIndependent Directors/Nominees*\n\n  \n\nRe-Election\nof Kathleen A. McCartney\n\n  \n✓\n\nElection of Mark Michel\n\n  \n✓\n\nElection of Sonya Morris\n\n  \n✓\n\nPGP\n\n  \n\nIndependent Trustees/Nominees*\n\n  \n\nElection of Mark Michel\n\n  \n✓\n\nElection of Sonya Morris\n\n  \n✓\n\nRe-election\nof Alan Rappaport\n\n  \n✓\n\nPHK\n\n  \n\nIndependent Trustees/Nominees*\n\n  \n\nElection of Mark Michel\n\n  \n✓\n\nElection of Sonya Morris\n\n  \n✓\n\nInterested Trustee/Nominee**\n\n  \n\nRe-election\nof David Flattum\n\n  \n✓\n\nPDI\n\n  \n\nIndependent Trustees/Nominees*\n\n  \n\nElection of Mark Michel\n\n  \n✓\n\nElection of Sonya Morris\n\n  \n✓\n\n \n\n4\n\nProposal\n\n  \n\nCommon\n\nShareholders\n\nInterested Trustee/Nominee**\n\n  \n\nRe-election\nof David Flattum\n\n  \n✓\n\nPFL\n\n  \n\nIndependent Trustees/Nominees*\n\n  \n\nRe-election\nof Kathleen A. McCartney\n\n  \n✓\n\nElection of Mark Michel\n\n  \n✓\n\nElection of Sonya Morris\n\n  \n✓\n\nPFN\n\n  \n\nIndependent Trustees/Nominees*\n\n  \n\nElection of Mark Michel\n\n  \n✓\n\nElection of Sonya Morris\n\n  \n✓\n\nInterested Trustee/Nominee**\n\n  \n\nRe-election\nof Libby D. Cantrill\n\n  \n✓\n\n \n\n*\n\n“Independent Trustees” or “Independent Nominees” are those Trustees or nominees who are not “interested persons,” as defined in the Investment Company Act of 1940, as amended (the “1940 Act”), of each Fund.\n\n**\n\nMs. Cantrill and Mr. Flattum are “interested persons” of each Fund, as defined in Section 2(a)(19) of the 1940 Act (“Interested Trustee”), due to their affiliation with PIMCO and its affiliates. They do not receive compensation from the Funds for their services as Trustees.\n\nYou may vote by mail by returning a properly executed proxy card, by internet by going to the website listed on the proxy card, by telephone using the toll-free number listed on the proxy card, or in person by attending the Meeting. Shares represented by duly executed and timely delivered proxies will be voted as instructed on the proxy. If you execute and mail the enclosed proxy and no choice is indicated for the election or\nre-election\nof Trustees listed in the attached Notice, your proxy will be voted in favor of the election or\nre-election,\nas applicable, of all nominees. At any time before it has been voted, your proxy may be revoked in one of the following ways: (i) by timely delivering a signed, written letter of revocation to the Secretary of the applicable Fund at 650 Newport Center Drive, Newport Beach, CA 92660, (ii) by properly executing and timely submitting a later-dated proxy vote to the Funds, or (iii) by attending the Meeting and voting in person. If you are planning to attend the Meeting\nin-person,\nplease call\n\n1-866-796-7180\n\nin advance. You may also call this phone number for information on how to obtain directions to be able to attend the Meeting and vote in person or for information or assistance regarding how to vote by telephone, mail or by internet. Please note that any shareholder wishing to attend the Meeting\nin-person\nis required to comply with any health regulations adopted by federal, state and local governments and/or by PIMCO. If any proposal, other than the Proposal set forth herein, properly comes before the Meeting, the persons named as proxies will vote in their sole discretion.\n\n \n\n5\n\nThe principal executive offices of the Funds are located at 1633 Broadway, New York, New York 10019. PIMCO serves as the investment manager of each Fund. Additional information regarding the Manager may be found under “Additional Information — Investment Manager” below.\n\nThe solicitation will be primarily by mail and by telephone and the cost of soliciting proxies for each Fund will be borne by PIMCO. Certain officers of the Funds and certain officers and employees of the Manager or its affiliates (none of whom will receive additional compensation therefor) may solicit proxies by telephone, mail,\ne-mail\nand personal interviews. Any\n\nout-of-pocket\n\nexpenses incurred in connection with the solicitation will be borne by PIMCO.\n\nUnless a Fund receives contrary instructions, only one copy of this Proxy Statement will be mailed to a given address where two or more Shareholders share that address and share the same surname. Additional copies of the Proxy Statement, as well as copies of a Fund’s annual report to shareholders and most recent semi-annual report to shareholders succeeding the annual report, will be delivered promptly upon request, without charge. Requests may be sent to the Secretary of the Funds c/o Pacific Investment Management Company LLC, 650 Newport Center Drive, Newport Beach, California 92660, or by calling\n\n1-866-796-7180\n\non any business day.\n\nAs of the Record Date, the Trustees, nominees and the officers of each Fund as a group and individually beneficially owned less than one percent (1%) of each Fund’s outstanding Shares. As of the Record Date, to the knowledge of the Funds, other than as set forth below, no person beneficially owned more than five percent (5%) of the outstanding shares of a Fund:\n\n \n\nName/Address of Owner of Record*\n\n  \n\nFund\n\n  \n\nPercentage of\nOwnership of\nFund\n\nCHARLES SCHWAB & CO INC\n\n101 MONTGOMERY ST\n\nSAN FRANCISCO CA 94104-4151\n\n  \nPIMCO Strategic\nIncome Fund, Inc.\n  \n30.83%\n\nLPL FINANCIAL\n\n9785 TOWNE CENTRE DRIVE\n\nSAN DIEGO CA 92121-1968\n\n  \nPIMCO Strategic\nIncome Fund, Inc.\n  \n5.56%\n\nMORGAN STANLEY SMITH BARNEY\n\nHARBORSIDE FINANCIAL CENTER,\n\nPLAZA 2\n\nJERSEY CITY, NJ 07311\n\n  \nPIMCO Strategic\nIncome Fund, Inc.\n  \n9.60%\n\n \n\n6\n\nName/Address of Owner of Record*\n\n  \n\nFund\n\n  \n\nPercentage of\nOwnership of\nFund\n\nNATIONAL FINANCIAL SERVICES LLC\n\n200 LIBERTY ST, ONE WORLD\n\nFINANCIAL CENTER\n\nNEW YORK NY 10281-1003\n\n  \nPIMCO Strategic\nIncome Fund, Inc.\n  \n23.53%\n\nPERSHING LLC\n\n1 PERSHING PLZ\n\nJERSEY CITY, NJ\n07399-000\n\n  \nPIMCO Strategic\nIncome Fund, Inc.\n  \n8.81%\n\nAMERICAN ENTERPRISE\n\nINVESTMENT SERVICES INC.\n\n2723 AMERIPRISE FINANCIAL CENTER\n\nMINNEAPOLIS, MN 55474\n\n  \nPIMCO Income\nStrategy Fund II\n  \n7.23%\n\nCHARLES SCHWAB & CO INC\n\n101 MONTGOMERY ST\n\nSAN FRANCISCO CA 94104-4151\n\n  \nPIMCO Income\nStrategy Fund II\n  \n24.37%\n\nLPL FINANCIAL\n\n9785 TOWNE CENTRE DRIVE\n\nSAN DIEGO CA 92121-1968\n\n  \nPIMCO Income\nStrategy Fund II\n  \n5.62%\n\nMORGAN STANLEY SMITH BARNEY\n\nHARBORSIDE FINANCIAL\n\nCENTER, PLAZA 2\n\nJERSEY CITY, NJ 07311\n\n  \nPIMCO Income\nStrategy Fund II\n  \n7.48%\n\nNATIONAL FINANCIAL SERVICES LLC\n\n200 LIBERTY ST, ONE WORLD\n\nFINANCIAL CENTER\n\nNEW YORK NY 10281-1003\n\n  \nPIMCO Income\nStrategy Fund II\n  \n20.79%\n\nAMERICAN ENTERPRISE\n\nINVESTMENT SERVICES INC.\n\n2723 AMERIPRISE FINANCIAL CENTER\n\nMINNEAPOLIS, MN 55474\n\n  \nPIMCO Income\nStrategy Fund\n  \n13.16%\n\nCHARLES SCHWAB & CO INC\n\n101 MONTGOMERY ST\n\nSAN FRANCISCO CA 94104-4151\n\n  \nPIMCO Income\nStrategy Fund\n  \n23.85%\n\nMORGAN STANLEY SMITH BARNEY\n\nHARBORSIDE FINANCIAL\n\nCENTER, PLAZA 2\n\nJERSEY CITY, NJ 07311\n\n  \nPIMCO Income\nStrategy Fund\n  \n6.50%\n\n \n\n7\n\nName/Address of Owner of Record*\n\n  \n\nFund\n\n \n\nPercentage of\nOwnership of\nFund\n\nNATIONAL FINANCIAL SERVICES LLC\n\n200 LIBERTY ST, ONE WORLD\n\nFINANCIAL CENTER\n\nNEW YORK NY 10281-1003\n\n  \nPIMCO Income\nStrategy Fund\n \n16.81%\n\nCHARLES SCHWAB & CO INC\n\n101 MONTGOMERY ST\n\nSAN FRANCISCO CA 94104-4151\n\n  \nPIMCO High Income\nFund\n \n31.34%\n\nMERRILL LYNCH PROFESSIONAL\n\nCLEARING CORP.\n\n222 BROADWAY\n\nNEW YORK, NY 10038\n\n  \nPIMCO High Income\nFund\n \n6.72%\n\nMORGAN STANLEY SMITH BARNEY\n\nHARBORSIDE FINANCIAL\n\nCENTER, PLAZA 2\n\nJERSEY CITY, NJ 07311\n\n  \nPIMCO High Income\nFund\n \n6.75%\n\nNATIONAL FINANCIAL SERVICES LLC\n\n200 LIBERTY ST, ONE WORLD\n\nFINANCIAL CENTER\n\nNEW YORK NY 10281-1003\n\n  \nPIMCO High Income\nFund\n \n20.61%\n\nCHARLES SCHWAB & CO INC\n\n101 MONTGOMERY ST\n\nSAN FRANCISCO CA 94104-4151\n\n  \nPIMCO Global\nStocksPLUS\n®\n &\nIncome Fund\n \n32.28%\n\nMERRILL LYNCH PROFESSIONAL\n\nCLEARING CORP.\n\n222 BROADWAY\n\nNEW YORK, NY 10038\n\n  \nPIMCO Global\nStocksPLUS\n®\n &\nIncome Fund\n \n5.29%\n\nMORGAN STANLEY SMITH BARNEY\n\nHARBORSIDE FINANCIAL\n\nCENTER, PLAZA 2\n\nJERSEY CITY, NJ 07311\n\n  \nPIMCO Global\nStocksPLUS\n®\n &\nIncome Fund\n \n8.05%\n\nNATIONAL FINANCIAL SERVICES LLC\n\n200 LIBERTY ST, ONE WORLD\n\nFINANCIAL CENTER\n\nNEW YORK NY 10281-1003\n\n  \nPIMCO Global\nStocksPLUS\n®\n &\nIncome Fund\n \n23.64%\n\nCHARLES SCHWAB & CO INC\n\n101 MONTGOMERY ST\n\nSAN FRANCISCO CA 94104-4151\n\n  \nPIMCO Dynamic\nIncome Strategy Fund\n \n10.86%\n\nMERRILL LYNCH PROFESSIONAL\n\nCLEARING CORP.\n\n222 BROADWAY\n\nNEW YORK, NY 10038\n\n  \nPIMCO Dynamic\nIncome Strategy Fund\n \n7.30%\n\n \n\n8\n\nName/Address of Owner of Record*\n\n  \n\nFund\n\n  \n\nPercentage of\nOwnership of\nFund\n\nMORGAN STANLEY SMITH BARNEY\n\nHARBORSIDE FINANCIAL\n\nCENTER, PLAZA 2\n\nJERSEY CITY, NJ 07311\n\n  \nPIMCO Dynamic\nIncome Strategy Fund\n  \n10.31%\n\nNATIONAL FINANCIAL SERVICES\n\nLLC\n\n200 LIBERTY ST, ONE WORLD\n\nFINANCIAL CENTER\n\nNEW YORK NY 10281-1003\n\n  \nPIMCO Dynamic\nIncome Strategy Fund\n  \n17.96%\n\nRBC CAPITAL MARKETS, LLC\n\n3 WORLD FINANCIAL CENTER, 8TH\n\nFLOOR\n\nNEW YORK, NY 10281\n\n  \nPIMCO Dynamic\nIncome Strategy Fund\n  \n5.24%\n\nSTIFEL, NICOLAUS & COMPANY,\n\nINCORPORATED\n\n501 N Broadway\n\nSt Louis, MO 63102\n\n  \nPIMCO Dynamic\nIncome Strategy Fund\n  \n5.14%\n\nTD SECURITIES (USA) LLC1\n\nVANDERBILT AVENUE\n\nNEW YORKNY10017\n\n  \nPIMCO Dynamic\nIncome Strategy Fund\n  \n7.81%\n\nUBS FINANCIAL\n\n499 WASHINGTON BLVD 9TH F\n\nJERSEY CITY, NJ 07310-2055\n\n  \nPIMCO Dynamic\nIncome Strategy Fund\n  \n5.87%\n\nWELLS FARGO CLEARING\n\nSERVICES, LLC\n\n1 NORTH JEFFERSON AVE\n\nSAINT LOUIS, MO 63103-2523\n\n  \nPIMCO Dynamic\nIncome Strategy Fund\n  \n7.11%\n\nCHARLES SCHWAB & CO INC\n\n101 MONTGOMERY ST\n\nSAN FRANCISCO CA 94104-4151\n\n  \nPIMCO Dynamic\nIncome Fund\n  \n25.34%\n\nMERRILL LYNCH PROFESSIONAL\n\nCLEARING CORP.\n\n222 BROADWAY\n\nNEW YORK, NY 10038\n\n  \nPIMCO Dynamic\nIncome Fund\n  \n5.30%\n\nMORGAN STANLEY SMITH BARNEY\n\nHARBORSIDE FINANCIAL CENTER,\n\nPLAZA 2\n\nJERSEY CITY, NJ 07311\n\n  \nPIMCO Dynamic\nIncome Fund\n  \n13.40%\n\n \n\n9\n\nName/Address of Owner of Record*\n\n  \n\nFund\n\n  \n\nPercentage of\nOwnership of\nFund\n\nNATIONAL FINANCIAL SERVICES LLC\n\n200 LIBERTY ST, ONE WORLD\n\nFINANCIAL CENTER\n\nNEW YORK NY 10281-1003\n\n  \nPIMCO Dynamic\nIncome Fund\n  \n22.34%\n\n \n\n*\n\nA control person is a person who owns, either directly or indirectly, beneficially more than 25% of the voting securities of a Fund. As of the Record Date, the Funds did not know of any person or entity who “controlled” the Funds.\n\nPROPOSAL: ELECTION OF TRUSTEES\n\nIn accordance with PDX’s, PGP’s, PHK’s, PDI’s, PFL’s and PFN’s Amended and Restated Agreement and Declaration of Trust (each, a “Declaration”) and RCS’s Articles of Incorporation, as amended (the “Articles”), the Trustees have been divided into the following three classes (each, a “Class”): Class I, Class II and Class III. The expiration dates of the classes are described below, and each Trustee will remain in office until the end of his or her term and when his or her successor is elected and qualified. The Governance and Nominating Committee and the Board of each applicable Fund have recommended the nominees listed herein for election or\nre-election,\nas applicable, as Trustees by the Shareholders of the applicable Funds.\n\nPDX.\n\nWith respect to PDX, the term of office of the Class I Trustees will expire at the Meeting; the term of office of the Class II Trustees will expire at the annual meeting of Shareholders held during the 2026-2027 fiscal year (\n\ni.e.\n\n, the annual meeting held during the fiscal year running from July 1, 2026 through June 30, 2027); and the term of office of the Class III Trustees will expire at the annual meeting of Shareholders held during the 2027-2028 fiscal year (\n\ni.e.\n\n, the annual meeting held during the fiscal year running from July 1, 2027 through June 30, 2028). Currently, Ms. Cantrill and Mr. Michel are Class I Trustees and Ms. Morris is a Class III Trustee. The Governance and Nominating Committee has recommended to the Board that Ms. Cantrill be nominated for\nre-election\nand Mr. Michel be nominated for election by Shareholders as Class I Trustees and Ms. Morris be nominated for election by Shareholders as a Class III Trustee. This is the first annual meeting of Shareholders of PDX following Mr. Michel’s and Ms. Morris’ appointment to the Board and is therefore the first time Mr. Michel and Ms. Morris have been nominated for election by Shareholders as Trustees of PDX. Consistent with the Fund’s Declaration, if elected or\nre-elected,\nas applicable, the nominees shall hold office for terms coinciding with the\n\n \n\n10\n\nClass of Trustees to which they have been designated. Therefore, if elected or\nre-elected\nat the Meeting, as applicable, Ms. Cantrill and Mr. Michel will serve terms consistent with the Class I Trustees, which will expire at the Fund’s annual meeting of Shareholders held during the 2028-2029 fiscal year (\n\ni.e.\n\n, the annual meeting held during the fiscal year running from July 1, 2028 through June 30, 2029), and Ms. Morris will serve a term consistent with the Class III Trustees, which will expire at the Fund’s annual meeting of Shareholders held during the 2027-2028 fiscal year (\n\ni.e.\n\n, the annual meeting held during the fiscal year running from July 1, 2027 through June 30, 2028).\n\nRCS.\n\n With respect to RCS, the term of office of the Class II Directors will expire at the Meeting; the term of office of the Class III Directors will expire at the annual meeting of Shareholders held during the 2026-2027 fiscal year (\n\ni.e.\n\n, the annual meeting held during the fiscal year running from July 1, 2026 through June 30, 2027); and the term of office of the Class I Directors will expire at the annual meeting of Shareholders held during the 2027-2028 fiscal year (\n\ni.e.\n\n, the annual meeting held during the fiscal year running from July 1, 2027 through June 30, 2028). Currently, Mses. McCartney and Morris and Mr. Michel are Class II Directors. The Governance and Nominating Committee has recommended to the Board that Ms. McCartney be nominated for\nre-election\nby Shareholders as a Class II Director, and that Mr. Michel and Ms. Morris be nominated for election by Shareholders as Class II Directors. This is the first annual meeting of Shareholders of RCS following Mr. Michel’s and Ms. Morris’ appointment to the Board and is therefore the first time Mr. Michel and Ms. Morris have been nominated for election by Shareholders as Directors of RCS. Consistent with the Fund’s Articles, if elected or\nre-elected,\nas applicable, the nominees shall hold office for terms coinciding with the Class of Directors to which they have been designated. Therefore, if elected or\nre-elected\nat the Meeting, as applicable, Mses. McCartney and Morris and Mr. Michel will serve terms consistent with the Class II Directors, which will expire at the Fund’s annual meeting of Shareholders held during the 2028-2029 fiscal year (\n\ni.e.\n\n, the annual meeting held during the fiscal year running from July 1, 2028 through June 30, 2029).\n\nPGP.\n\n With respect to PGP, the term of office of the Class III Trustees will expire at the Meeting; the term of office of the Class I Trustees will expire at the annual meeting of Shareholders held during the 2026-2027 fiscal year (\n\ni.e.\n\n, the annual meeting held during the fiscal year running from July 1, 2026 through June 30, 2027); and the term of office of the Class II Trustees will expire at the annual meeting of Shareholders held during the 2027-2028 fiscal year (\n\ni.e.\n\n, the annual meeting held during the fiscal year running from July 1, 2027 through June 30, 2028). Currently, Messrs. Rappaport and Michel are Class III Trustees and Ms. Morris is a Class II Trustee. The Governance and Nominating\n\n \n\n11\n\nCommittee has recommended to the Board that Mr. Rappaport be nominated for\nre-election\nand Mr. Michel be nominated for election by Shareholders as Class III Trustees and Ms. Morris be nominated for election by Shareholders as a Class II Trustee. This is the first annual meeting of Shareholders of PGP following Mr. Michel’s and Ms. Morris’ appointment to the Board and is therefore the first time Mr. Michel and Ms. Morris have been nominated for election by Shareholders as Trustees of PGP. Consistent with the Fund’s Declaration, if elected or\nre-elected,\nas applicable, the nominees shall hold office for terms coinciding with the Class of Trustees to which they have been designated. Therefore, if elected or\nre-elected\nat the Meeting, as applicable, Messrs. Michel and Rappaport will serve terms consistent with the Class III Trustees, which will expire at the Fund’s annual meeting of Shareholders held during the 2028-2029 fiscal year (\n\ni.e.\n\n, the annual meeting held during the fiscal year running from July 1, 2028 through June 30, 2029) and Ms. Morris will serve a term consistent with the Class II Trustees, which will expire at the Fund’s annual meeting of Shareholders held during the 2027-2028 fiscal year (\n\ni.e.\n\n, the annual meeting held during the fiscal year running from July 1, 2027 through June 30, 2028).\n\nPHK.\n\n With respect to PHK, the term of office of the Class II Trustees will expire at the Meeting; the term of office of the Class III Trustees will expire at the annual meeting of Shareholders held during the 2026-2027 fiscal year (\n\ni.e.\n\n, the annual meeting held during the fiscal year running from July 1, 2026 through June 30, 2027); and the term of office of the Class I Trustees will expire at the annual meeting of Shareholders held during the 2027-2028 fiscal year (\n\ni.e.\n\n, the annual meeting held during the fiscal year running from July 1, 2027 through June 30, 2028). Currently, Messrs. Flattum and Michel are Class II Trustees and Ms. Morris is a Class III Trustee. The Governance and Nominating Committee has recommended to the Board that Mr. Flattum be nominated for\nre-election\nand Mr. Michel be nominated for election by Shareholders as Class II Trustees and Ms. Morris be nominated for election by Shareholders as a Class III Trustee. This is the first annual meeting of Shareholders of PHK following Mr. Michel’s and Ms. Morris’ appointment to the Board and is therefore the first time Mr. Michel and Ms. Morris have been nominated for election by Shareholders as Trustees of PHK. Consistent with the Fund’s Declaration, if elected or\nre-elected,\nas applicable, the nominees shall hold office for terms coinciding with the Class of Trustees to which they have been designated. Therefore, if elected or\nre-elected\nat the Meeting, as applicable, Messrs. Flattum and Michel will serve terms consistent with the Class II Trustees, which will expire at the Fund’s annual meeting of Shareholders held during the 2028-2029 fiscal year (\n\ni.e.\n\n, the annual meeting held during the fiscal year running from July 1, 2028 through June 30, 2029), and Ms. Morris will serve a term consistent with the Class III Trustees, which will expire at the Fund’s annual meeting of Shareholders held\n\n \n\n12\n\nduring the 2026-2027 fiscal year (\n\ni.e\n\n., the annual meeting held during the fiscal year running from July 1, 2026 through June 30, 2027).\n\nPDI.\n\n With respect to PDI, the term of office of the Class II Trustees will expire at the Meeting; the term of office of the Class III Trustees will expire at the annual meeting of Shareholders held during the 2026-2027 fiscal year (\n\ni.e.\n\n, the annual meeting held during the fiscal year running from July 1, 2026 through June 30, 2027); and the term of office of the Class I Trustees will expire at the annual meeting of Shareholders held during the 2027-2028 fiscal year (\n\ni.e.\n\n, the annual meeting held during the fiscal year running from July 1, 2027 through June 30, 2028). Currently, Messrs. Flattum and Michel and Ms. Morris are Class II Trustees. The Governance and Nominating Committee has recommended to the Board that Mr. Flattum be nominated for\nre-election\nand Mr. Michel and Ms. Morris each be nominated for election by Shareholders as Class II Trustees. This is the first annual meeting of Shareholders of PDI following Mr. Michel’s and Ms. Morris’ appointment to the Board and is therefore the first time Mr. Michel and Ms. Morris have been nominated for election by Shareholders as Trustees of PDI. Consistent with the Fund’s Declaration, if elected or\nre-elected,\nas applicable, the nominees shall hold office for terms coinciding with the Class of Trustees to which they have been designated. Therefore, if elected or\nre-elected\nat the Meeting, as applicable, Messrs. Flattum and Michel and Ms. Morris will serve terms consistent with the Class II Trustees, which will expire at the Fund’s annual meeting of Shareholders held during the 2028-2029 fiscal year (\n\ni.e.\n\n, the annual meeting held during the fiscal year running from July 1, 2028 through June 30, 2029).\n\nPFL.\n\n With respect to PFL, the term of office of the Class I Trustees will expire at the Meeting; the term of office of the Class II Trustees will expire at the annual meeting of Shareholders held during the 2026-2027 fiscal year (\n\ni.e.\n\n, the annual meeting held during the fiscal year running from July 1, 2026 through June 30, 2027); and the term of office of the Class III Trustees will expire at the annual meeting of Shareholders held during the 2027-2028 fiscal year (\n\ni.e.\n\n, the annual meeting held during the fiscal year running from July 1, 2027 through June 30, 2028). Currently, Ms. McCartney and Mr. Michel are Class I Trustees and Ms. Morris is a Class III Trustee. The Governance and Nominating Committee has recommended to the Board that Ms. McCartney be nominated for\nre-election\nand Mr. Michel be nominated for election by Shareholders as Class I Trustees, and Ms. Morris be nominated for election by Shareholders as a Class III Trustee. This is the first annual meeting of Shareholders of PFL following Mr. Michel’s and Ms. Morris’ appointment to the Board and is therefore the first time Mr. Michel and Ms. Morris have been nominated for election by Shareholders as Trustees of PFL. Consistent with the Fund’s Declaration, if elected or\nre-elected,\nas applicable, the nominees shall hold office\n\n \n\n13\n\nfor terms coinciding with the Class of Trustees to which they have been designated. Therefore, if elected or\nre-elected\nat the Meeting, as applicable, Ms. McCartney and Mr. Michel will serve terms consistent with the Class I Trustees, which will expire at the Fund’s annual meeting of Shareholders held during the 2028-2029 fiscal year (\n\ni.e.\n\n, the annual meeting for the fiscal year running from July 1, 2028 through June 30, 2029), and Ms. Morris will serve a term consistent with the Class III Trustees, which will expire at the Fund’s annual meeting of Shareholders held during the 2027-2028 fiscal year (\n\ni.e.\n\n, the annual meeting held during the fiscal year running from July 1, 2027 through June 30, 2028).\n\nPFN.\n\n With respect to PFN, the term of office of the Class III Trustees will expire at the Meeting; the term of office of the Class I Trustees will expire at the annual meeting of Shareholders held during the 2026-2027 fiscal year (\n\ni.e.\n\n, the annual meeting held during the fiscal year running from July 1, 2026 through June 30, 2027); and the term of office of the Class II Trustees will expire at the annual meeting of Shareholders held during the 2027-2028 fiscal year (\n\ni.e.\n\n, the annual meeting held during the fiscal year running from July 1, 2027 through June 30, 2028). Currently, Ms. Cantrill and Mr. Michel are Class III Trustees and Ms. Morris is a Class II Trustee. The Governance and Nominating Committee has recommended to the Board that Ms. Cantrill be nominated for\nre-election\nand Mr. Michel be nominated for election by Shareholders as Class III Trustees and Ms. Morris be nominated for election by Shareholders as a Class II Trustee. This is the first annual meeting of Shareholders of PFN following Mr. Michel’s and Ms. Morris’ appointment to the Board and is therefore the first time Mr. Michel and Ms. Morris have been nominated for election by Shareholders as Trustees of PFN. Consistent with the Fund’s Declaration, if elected or\nre-elected,\nas applicable, the nominees shall hold office for terms coinciding with the Class of Trustees to which they have been designated. Therefore, if elected or\nre-elected\nat the Meeting, as applicable, Ms. Cantrill and Mr. Michel will serve terms consistent with the Class III Trustees, which will expire at the Fund’s annual meeting of Shareholders held during the 2028-2029 fiscal year (\n\ni.e.\n\n, the annual meeting held during the fiscal year running from July 1, 2028 through June 30, 2029), and Ms. Morris will serve a term consistent with the Class II Trustees, which will expire at the Fund’s annual meeting of Shareholders held during the 2027-2028 fiscal year (\n\ni.e.\n\n, the annual meeting held during the fiscal year running from July 1, 2027 through June 30, 2028).\n\nAll members of the Board of each of PDX, PGP, PFL, PFN, PHK and PDI are and will remain, if elected or\nre-elected,\nas applicable, “Continuing Trustees,” as such term is defined in the Declaration of the applicable Fund, having either served as Trustee since the inception of the Fund or for\nthirty-six\nmonths, or having been nominated by at least a majority of the Continuing\n\n \n\n14\n\nTrustees then members of the Board. Pursuant to the Declaration of each of PDX, PGP, PFL, PFN, PHK and PDI, certain corporate actions and/or transactions involving the Fund outside of the ordinary course of business (including, among others, mergers, consolidations, significant dispositions of Fund assets, any shareholder proposals as to specific investment decisions and the conversion of the Fund to an\nopen-end\nfund) would require the approval of 75% of the Fund’s outstanding shares, unless approved by both a majority of the Board of Trustees and 75% of the Continuing Trustees (in which case shareholders have only the voting rights required by the 1940 Act with respect to such transaction or corporate action, if any).\n\nAll members of the Board of RCS, except for Mr. Michel and Ms. Morris, are and will remain, if elected or\nre-elected,\nas applicable, “Continuing Directors,” as such term is defined in the Articles, having either served as Director for a period of at least twelve months or having been a successor to a Continuing Director and been recommended to succeed a Continuing Director by a majority of the Continuing Directors then members of the Board. Pursuant to the Articles of RCS, certain corporate actions and/or transactions involving the Fund outside of the ordinary course of business (including, among others, mergers, consolidations, significant dispositions of Fund assets, any shareholder proposals as to specific investment decisions and the conversion of the Fund to an\nopen-end\nfund) would require the approval of 75% of the Fund’s outstanding shares, unless approved by both a majority of the Board of Directors and 75% of the Continuing Directors (in which case shareholders have only the voting rights required by the 1940 Act with respect to such transaction or corporate action, if any).\n\nAt any annual meeting of Shareholders, any Trustee elected to fill a vacancy that has arisen since the preceding annual meeting of Shareholders (whether or not such vacancy has been filled by election of a new Trustee by the Board) shall hold office for a term that coincides with the term (or any remaining term) of the Class of Trustees to which such office was previously assigned, if such vacancy arose other than by an increase in the number of Trustees and until his or her successor shall be elected and shall qualify. In the event such vacancy arose due to an increase in the number of Trustees, any Trustee so elected to fill such vacancy at an annual meeting shall hold office for a term which coincides with that of the Class of Trustee to which such office has been apportioned and until his or her successor shall be elected and shall qualify.\n\n \n\n15\n\nThe following table summarizes the nominees who will stand for election or\nre-election\nat the Meeting, the respective Classes of Trustees to which they have been designated and the expiration of their respective terms if elected or\nre-elected,\nas applicable:\n\n \n\nTrustee/Director/Nominee\n\n  \n\nClass\n\n \n  \n\nExpiration of Term if\nElected/Re-Elected*\n\nPDX\n\n  \n\n  \n\nLibby D. Cantrill**\n\n  \n \nClass I\n \n  \n\nAnnual Meeting held during the 2028-2029\n\nfiscal year\n\nMark Michel\n\n  \n \nClass I\n \n  \n\nAnnual Meeting held during the 2028-2029\n\nfiscal year\n\nSonya Morris\n\n  \n \nClass III\n \n  \n\nAnnual Meeting held during the 2027-2028\n\nfiscal year\n\nRCS\n\n  \n\n  \n\nKathleen A. McCartney\n\n  \n \nClass II\n \n  \n\nAnnual Meeting held during the 2028-2029\n\nfiscal year\n\nMark Michel\n\n  \n \nClass II\n \n  \n\nAnnual Meeting held during the 2028-2029\n\nfiscal year\n\nSonya Morris\n\n  \n \nClass II\n \n  \n\nAnnual Meeting held during the 2028-2029\n\nfiscal year\n\nPGP\n\n  \n\n  \n\nMark Michel\n\n  \n \nClass III\n \n  \n\nAnnual Meeting held during the 2028-2029\n\nfiscal year\n\nSonya Morris\n\n  \n \nClass II\n \n  \n\nAnnual Meeting held during the 2027-2028\n\nfiscal year\n\nAlan Rappaport\n\n  \n \nClass III\n \n  \n\nAnnual Meeting held during the 2028-2029\n\nfiscal year\n\nPHK\n\n  \n\n  \n\nDavid Flattum**\n\n  \n \nClass II\n \n  \n\nAnnual Meeting held during the 2028-2029\n\nfiscal year\n\nMark Michel\n\n  \n \nClass II\n \n  \n\nAnnual Meeting held during the 2028-2029\nfiscal year\n\nSonya Morris\n\n  \n \nClass III\n \n  \n\nAnnual Meeting held during the 2026-2027\nfiscal year\n\nPDI\n\n  \n\n  \n\nDavid Flattum**\n\n  \n \nClass II\n \n  \n\nAnnual Meeting held during the 2028-2029\n\nfiscal year\n\nMark Michel\n\n  \n \nClass II\n \n  \n\nAnnual Meeting held during the 2028-2029\n\nfiscal year\n\nSonya Morris\n\n  \n \nClass II\n \n  \n\nAnnual Meeting held during the 2028-2029\n\nfiscal year\n\n \n\n16\n\nTrustee/Director/Nominee\n\n  \n\nClass\n\n \n  \n\nExpiration of Term if\nElected/Re-Elected*\n\nPFL\n\n  \n\n  \n\nKathleen A. McCartney\n\n  \n \nClass I\n \n  \n\nAnnual Meeting held during the 2028-2029\n\nfiscal year\n\nMark Michel\n\n  \n \nClass I\n \n  \n\nAnnual Meeting held during the 2028-2029\n\nfiscal year\n\nSonya Morris\n\n  \n \nClass III\n \n  \n\nAnnual Meeting held during the 2027-2028\nfiscal year\n\nPFN\n\n  \n\n  \n\nLibby D. Cantrill**\n\n  \n \nClass III\n \n  \n\nAnnual Meeting held during the 2028-2029\n\nfiscal year\n\nMark Michel\n\n  \n \nClass III\n \n  \n\nAnnual Meeting held during the 2028-2029\n\nfiscal year\n\nSonya Morris\n\n  \n \nClass II\n \n  \n\nAnnual Meeting held during the 2027-2028\n\nfiscal year\n\n \n\n*\n\nA Trustee elected or\nre-elected\nat an annual meeting shall hold office until the annual meeting for the year in which his or her term expires and until his or her successor is elected and qualifies, subject, however, to prior death, resignation, retirement, disqualification or removal from office.\n\n**\n\nEach of Ms. Cantrill and Mr. Flattum is an Interested Trustee/Nominee.\n\nUnder this classified Board structure, generally only those Trustees in a single Class may be replaced in any one year, and it would require a minimum of two years to change a majority of the Board under normal circumstances. This structure may make it more difficult for a Fund’s Shareholders to change the majority of Trustees of a Fund and, thus, promotes the continuity of management and limits the ability of other entities or persons to acquire control of a Fund by delaying the replacement of a majority of the Board.\n\nUnless authority is withheld, it is the intention of the persons named in the enclosed proxy for a Fund to vote each proxy for the persons listed above for that Fund. Each of the nominees has indicated he or she will serve if elected or\nre-elected,\nas applicable, but if he or she should be unable to serve for a Fund, the proxy holders may vote in favor of such substitute nominee as the Board may designate (or, alternatively, the Board may determine to save a vacancy).\n\nTrustees and Officers\n\nThe business of each Fund is managed under the direction of each Fund’s Board. Subject to the provisions of each Fund’s Declaration or Articles, its Bylaws and applicable state law, the Trustees have all powers necessary and convenient to carry out their responsibilities, including the election and removal of the Fund’s officers.\n\n \n\n17\n\nBoard Leadership Structure\n\n — The Board of each Fund consists of seven Trustees, five of whom are not “interested persons” (within the meaning of Section 2(a)(19) of the 1940 Act) of the Fund or of the Manager (the “Independent Trustees”), which represents approximately 71% of the Trustees that are Independent Trustees.\n\nAn Independent Trustee serves as Chair of the Board and is selected by a vote of the majority of the Independent Trustees. The Chair of the Board presides at meetings of the Board, acts as a liaison with service providers, officers, attorneys and other Trustees generally between meetings, and performs such other functions as may be requested by the Board from time to time.\n\nThe Board of each Fund meets regularly four times each year to discuss and consider matters concerning the Funds, and also holds special meetings to address matters arising between regular meetings. The Independent Trustees regularly meet outside the presence of management and are advised by independent legal counsel.\n\nThe Board of each Fund has established five standing Committees to facilitate the Trustees’ oversight of the management of the Funds: the Audit Oversight Committee, the Governance and Nominating Committee, the Valuation Oversight Committee, the Contracts Committee and the Performance Committee. The functions and role of each Committee are described below under “Committees of the Board of Trustees.” The membership of each Committee (other than the Performance Committee) consists of only the Independent Trustees. The Performance Committee consists of all of the Trustees. The Independent Trustees believe that participation on each Committee allows them to participate in the full range of the Board’s oversight duties.\n\nThe Board reviews its leadership structure periodically and has determined that this leadership structure, including an Independent Chair, a supermajority of Independent Trustees and Committee membership limited to Independent Trustees (with the exception of the Performance Committee), is appropriate in light of the characteristics and circumstances of each Fund. In reaching this conclusion, the Board considered, among other things, the predominant role of the Manager in the\n\nday-to-day\n\nmanagement of Fund affairs, the extent to which the work of the Board is conducted through the Committees, the number of funds in the Fund Complex (as defined below) overseen by Board members, the variety of asset classes those funds include, the assets of each Fund and the other funds in the Fund Complex and the management, distribution and other service arrangements of each Fund and such other funds. The Board also believes that its structure, including the presence of two Trustees who are or have been executives with the Manager or Manager-affiliated entities, facilitates an efficient flow of information concerning the management of each Fund to the Independent Trustees.\n\n \n\n18\n\nRisk Oversight\n\n — Each of the Funds has retained the Manager to provide investment advisory services and administrative services. Accordingly, the Manager is immediately responsible for the management of risks that may arise from Fund investments and operations. Some employees of the Manager serve as the Funds’ officers, including the Funds’ principal executive officer and principal financial and accounting officer, chief compliance officer and chief legal officer. The Manager and the Funds’ other service providers have adopted policies, processes, and procedures to identify, assess and manage different types of risks associated with each Fund’s activities. The Board oversees the performance of these functions by the Manager and the Funds’ other service providers, both directly and through the Committee structure it has established. The Board receives from the Manager a wide range of reports, both on a regular and\nas-needed\nbasis, relating to the Funds’ activities and to the actual and potential risks of the Funds. These include reports on investment and market risks, custody and valuation of Fund assets, compliance with applicable laws, and the Funds’ financial accounting and reporting. In addition, the Board meets periodically with the individual portfolio managers of the Funds or their delegates to receive reports regarding the portfolio management of the Funds and their performance, including their investment risks. In the course of these meetings and discussions with the Manager, the Board has emphasized to the Manager the importance of maintaining vigorous risk-management programs and procedures with respect to the Funds.\n\nIn addition, the Board has appointed a Chief Compliance Officer (“CCO”). The CCO oversees the development of compliance policies and procedures that are reasonably designed to minimize the risk of violations of the federal securities laws (“Compliance Policies”). The CCO reports directly to the Independent Trustees, interacts with individuals within the Manager’s organization and provides presentations to the Board at its quarterly meetings and an annual report on the application of the Compliance Policies. The Board periodically discusses relevant risks affecting the Funds with the CCO at these meetings. The Board has approved the Compliance Policies and reviews the CCO’s reports. Further, the Board annually reviews the sufficiency of the Compliance Policies, as well as the appointment and compensation of the CCO.\n\nThe Board recognizes that the reports it receives concerning risk management matters are, by their nature, typically summaries of the relevant information. Moreover, the Board recognizes that not all risks that may affect the Funds can be identified in advance; that it may not be practical or cost-effective to eliminate or mitigate certain risks; that it may be necessary to bear certain risks (such as investment-related risks) in seeking to achieve the Funds’ investment objectives; and that the processes, procedures and controls employed to address certain risks may be limited in their effectiveness.\n\n \n\n19\n\nThe Trustees/Nominees and officers of the Funds, their year of birth, the positions they hold with the Funds, their term of office and length of time served, a description of their principal occupations during the past five years, the number of portfolios in the Fund Complex (as defined below) that the Trustee oversees and any other public company directorships held by the Trustee are listed in the two tables immediately following. Except as shown, each Trustee’s and officer’s principal occupation and business experience for the last five years have been with the employer(s) indicated, although in some cases the Trustee may have held different positions with such employer(s).\n\n \n\n20\n\nInformation Regarding Trustees and Nominees.\n\nThe following table provides information concerning the Trustees/Nominees of the Funds as of May 1, 2026.\n\n \n\nName,\n\nAddress,\n\nYear of Birth\n\nand Class\n(1)\n\n \n\nPosition(s)\n\nHeld\n\nwith the\n\nFunds\n\n \n\nTerm of\n\nOffice and\n\nLength of\n\nTime Served\n(2)\n\n \n\nPrincipal Occupation(s)\n\nDuring the Past 5 Years\n\n \n\nNumber\n\nof\n\nPortfolios\n\nin Fund\n\nComplex\n(3)\n\nOverseen\n\nby\n\nTrustee/\nNominee\n\n \n \n\nOther\n\nDirectorships\n\nHeld by\n\nTrustee/\nNominee\n\nDuring the\n\nPast 5 Years\n\nIndependent Trustees/Nominees\n\nAlan Rappaport\n\n1953\n\n \n\nPDX-Class III\n\n \n\nRCS-Class III\n\n \n\nPGP-Class III, currently nominated for\nre-election\n\n \n\nPHK-Class I\n\n \n\nPDI-Class I\n\n \n\nPFL-Class II\n\n \n\nPFN-Class I\n\n \n\n \nChair of\nthe\nBoard,\nTrustee,\nNominee\n \nRCS-Since\n2010\n \n\nPGP-Since\n2010\n\n \n\nPHK-Since\n2010\n\n \n\nPDI-Since\n2012\n\n \n\nPFL-Since\n2014\n\n \n\nPFN-Since\n2012\n\n \n\nPDX-Since\n2019\n\n \n\nChair-\nSince\nJanuary\n2026\n\n \nDirector, Victory Capital Holdings, Inc., an asset management firm (since 2013). Formerly, Adjunct Professor, New York University Stern School of Business (2011-2020); Lecturer, Stanford University Graduate School of Business (2013-2020); Advisory Director (formerly Vice Chairman), Roundtable Investment Partners (2009-2018); Member of Board of Overseers, NYU Langone Medical Center\n(2015-2016);\nTrustee, American Museum of Natural History (2005-2015); Trustee, NYU Langone Medical Center (2007-2015); and Vice Chairman (formerly, Chairman and President), U.S. Trust (formerly, Private Bank of Bank of America, the predecessor entity of U.S. Trust)\n(2001-2008).\n\n \n \n24\n \n \nTrustee, Allianz Funds (2010-2021); Chairman of the Board of Trustees, Virtus\nClosed-End\nFunds (2021-2023).\n\n \n\n21\n\nName,\n\nAddress,\n\nYear of Birth\n\nand Class\n(1)\n\n \n\nPosition(s)\n\nHeld\n\nwith the\n\nFunds\n\n \n\nTerm of\n\nOffice and\n\nLength of\n\nTime Served\n(2)\n\n \n\nPrincipal Occupation(s)\n\nDuring the Past 5 Years\n\n \n\nNumber\n\nof\n\nPortfolios\n\nin Fund\n\nComplex\n(3)\n\nOverseen\n\nby\n\nTrustee/\nNominee\n\n \n \n\nOther\n\nDirectorships\n\nHeld by\n\nTrustee/\nNominee\n\nDuring the\n\nPast 5 Years\n\nSarah E.\n\nCogan\n\n1956\n\n \n\nPDX-Class II\n\n \n\nRCS-Class I\n\n \n\nPGP-Class I\n\n \n\nPHK-Class III\n\n \n\nPDI-Class III\n\n \n\nPFL-Class II\n\n \n\nPFN-Class II\n\n \n\n \nTrustee\n \nSince\n2019\n \nRetired Partner, Simpson Thacher & Bartlett LLP (law firm) (1989-2018); Director, Girl Scouts of Greater New York, Inc. (since 2016); and Trustee, Natural Resources Defense Council, Inc. (since 2013).\n \n \n24\n \n \nTrustee, Allianz Funds (2019-2021); Trustee, Virtus Funds (2021-Present).\n\n \n\n22\n\nName,\n\nAddress,\n\nYear of Birth\n\nand Class\n(1)\n\n \n\nPosition(s)\n\nHeld\n\nwith the\n\nFunds\n\n \n\nTerm of\n\nOffice and\n\nLength of\n\nTime Served\n(2)\n\n \n\nPrincipal Occupation(s)\n\nDuring the Past 5 Years\n\n \n\nNumber\n\nof\n\nPortfolios\n\nin Fund\n\nComplex\n(3)\n\nOverseen\n\nby\n\nTrustee/\nNominee\n\n \n \n\nOther\n\nDirectorships\n\nHeld by\n\nTrustee/\nNominee\n\nDuring the\n\nPast 5 Years\n\nKathleen A. McCartney\n\n1955\n\n \n\nPDX-Class II\n\n \n\nRCS-Class II, currently nominated for\nre-election\n\n \n\nPGP-Class I\n\n \n\nPHK-Class I\n\n \n\nPDI-Class I\n\n \n\nPFL-Class I, currently nominated for\nre-election\n\n \n\nPFN-Class I\n\n \n\n \nTrustee,\nNominee\n \nSince\n2022\n \nDirector (since 2013) and President (since 2020), Five Colleges, Inc., consortium of liberal arts colleges and universities; President Emerita, Smith College (since 2023). Formerly, President, Smith College (2013-2023); Director, American Council on Education Board of Directors, (2015-2019); Director, Consortium on Financing Higher Education Board of Directors (2015-2019); Director, edX Board of Directors, online course provider (2012-2013); Director, Bellwether Education Partners Board, national nonprofit organization (2010-2013); Dean, Harvard Graduate School of Education (2006-2013); and Trustee, Tufts University (2007-2013).\n \n \n24\n \n \nNone.\n\n \n\n23\n\nName,\n\nAddress,\n\nYear of Birth\n\nand Class\n(1)\n\n \n\nPosition(s)\n\nHeld\n\nwith the\n\nFunds\n\n \n\nTerm of\n\nOffice and\n\nLength of\n\nTime Served\n(2)\n\n \n\nPrincipal Occupation(s)\n\nDuring the Past 5 Years\n\n \n\nNumber\n\nof\n\nPortfolios\n\nin Fund\n\nComplex\n(3)\n\nOverseen\n\nby\n\nTrustee/\nNominee\n\n \n \n\nOther\n\nDirectorships\n\nHeld by\n\nTrustee/\nNominee\n\nDuring the\n\nPast 5 Years\n\nMark Michel\n(4)\n\n1965\n\n \n\nPDX-Class I, currently nominated for election\n\n \n\nRCS-Class II, currently nominated for election\n\n \n\nPGP-Class III, currently nominated for election\n\n \n\nPHK-Class II, currently nominated for election\n\n \n\nPDI-Class II, currently nominated for election\n\n \n\n \nTrustee,\nNominee\n \nSince\nSeptember\n2025\n \nFormerly, Audit Partner, Ernst & Young (2004-2025).\n \n \n24\n \n \nNone.\n\n \n\n24\n\nName,\n\nAddress,\n\nYear of Birth\n\nand Class\n(1)\n\n \n\nPosition(s)\n\nHeld\n\nwith the\n\nFunds\n\n \n\nTerm of\n\nOffice and\n\nLength of\n\nTime Served\n(2)\n\n \n\nPrincipal Occupation(s)\n\nDuring the Past 5 Years\n\n \n\nNumber\n\nof\n\nPortfolios\n\nin Fund\n\nComplex\n(3)\n\nOverseen\n\nby\n\nTrustee/\nNominee\n\n \n \n\nOther\n\nDirectorships\n\nHeld by\n\nTrustee/\nNominee\n\nDuring the\n\nPast 5 Years\n\nPFL-Class I, currently nominated for election\n\n \n\nPFN-Class III, currently nominated for election\n\n \n\n \n\n \n\n \n\n \n\n \n\nSonya Morris\n(4)\n\n1962\n\n \n\nPDX-Class III, currently nominated for election\n\n \n\nRCS-Class II, currently nominated for election\n\n \n\nPGP-Class II, currently nominated for election\n\n \n\n \nTrustee,\n\nNominee\n\n \nSince\nSeptember\n2025\n \nFormerly, Managing Director, Harbor Capital Advisors, an investment advisor (2013-2022); and Senior Investment Consultant (2010-2013) and Senior Mutual Fund Analyst and Editorial Director (2004-2010), Morningstar, Inc., a global provider of investment data and research.\n \n \n24\n \n \nTrustee and Investment Committee Chair, City of Cincinnati Employee Retirement System, a public pension fund (Since 2023).\n\n \n\n25\n\nName,\n\nAddress,\n\nYear of Birth\n\nand Class\n(1)\n\n \n\nPosition(s)\n\nHeld\n\nwith the\n\nFunds\n\n \n\nTerm of\n\nOffice and\n\nLength of\n\nTime Served\n(2)\n\n \n\nPrincipal Occupation(s)\n\nDuring the Past 5 Years\n\n \n\nNumber\n\nof\n\nPortfolios\n\nin Fund\n\nComplex\n(3)\n\nOverseen\n\nby\n\nTrustee/\nNominee\n\n \n \n\nOther\n\nDirectorships\n\nHeld by\n\nTrustee/\nNominee\n\nDuring the\n\nPast 5 Years\n\nPHK-Class III, currently nominated for election\n\n \n\nPDI-Class II, currently nominated for election\n\n \n\nPFL-Class III, currently nominated for election\n\n \n\nPFN-Class II, currently nominated for election\n\n \n\n \n\n \n\n \n\n \n\n \n\n \n\n26\n\nName,\n\nAddress,\n\nYear of Birth\n\nand Class\n(1)\n\n \n\nPosition(s)\n\nHeld\n\nwith the\n\nFunds\n\n \n\nTerm of\n\nOffice and\n\nLength of\n\nTime Served\n(2)\n\n \n\nPrincipal Occupation(s)\n\nDuring the Past 5 Years\n\n \n\nNumber\n\nof\n\nPortfolios\n\nin Fund\n\nComplex\n(3)\n\nOverseen\n\nby\n\nTrustee/\nNominee\n\n \n \n\nOther\n\nDirectorships\n\nHeld by\n\nTrustee/\nNominee\n\nDuring the\n\nPast 5 Years\n\nInterested Trustees/Nominees\n\nLibby D. Cantrill\n(5)\n\n1977\n\n \n\n650 Newport Center Drive, Newport Beach, CA 92660\n\n \n\nPDX- Class I, currently nominated for\nre-election\n\n \n\nRCS-Class I\n\n \n\nPGP-Class II\n\n \n\nPHK-Class III\n\n \n\nPDI-Class III\n\n \n\nPFL-Class II\n\n \n\nPFN-Class III, currently nominated for\nre-election\n\n \n\n \nTrustee,\nNominee\n \nSince\n2023\n \nManaging Director, Head of Public Policy, PIMCO (since 2007); Institutional Account Manager, PIMCO (2007-2010); Legislative Aide, House of Representatives (2003-2005); and Investment Banking Analyst, Morgan Stanley (2000-2003).\n \n \n24\n \n \nMember of the Board of Directors, Covenant House New York (2021-Present); Member of the Board, Securities Industry and Financial Markets Association (2022-Present).\n\n \n\n27\n\nName,\n\nAddress,\n\nYear of Birth\n\nand Class\n(1)\n\n \n\nPosition(s)\n\nHeld\n\nwith the\n\nFunds\n\n \n\nTerm of\n\nOffice and\n\nLength of\n\nTime Served\n(2)\n\n \n\nPrincipal Occupation(s)\n\nDuring the Past 5 Years\n\n \n\nNumber\n\nof\n\nPortfolios\n\nin Fund\n\nComplex\n(3)\n\nOverseen\n\nby\n\nTrustee/\nNominee\n\n \n \n\nOther\n\nDirectorships\n\nHeld by\n\nTrustee/\nNominee\n\nDuring the\n\nPast 5 Years\n\nDavid Flattum\n(5)\n\n1964\n\n \n\n650 Newport Center Drive, Newport Beach, CA 92660\n\n \n\nPDX-Class II\n\n \n\nRCS-Class III\n\n \n\nPGP-Class I\n\n \n\nPHK-Class II, currently nominated for\nre-election\n\n \n\nPDI-Class II, currently nominated for\nre-election\n\n \n\nPFL-Class III\n\n \n\nPFN-Class I\n\n \n\n \nTrustee,\nNominee\n \nSince\n2024\n \nConsultant, PIMCO (2023-present); Global General Counsel, PIMCO (2006-2023); General Counsel and Chief Operating Officer, Allianz Asset Management of America (2001-2006).\n \n \n24\n \n \nNone.\n\n \n\n28\n\n \n\n(1)\n\nUnless otherwise indicated, the business address of the persons listed above is c/o Pacific Investment Management Company LLC, 1633 Broadway, New York, New York 10019.\n\n(2)\n\nUnder each Fund’s Declaration or Articles, as applicable, a Trustee serves until his or her death, retirement, removal, disqualification, resignation or replacement. In accordance with each Fund’s Declaration or Articles, as applicable, the Shareholders of a Fund elect Trustees to fill the vacancies of Trustees whose terms expire at each annual meeting of such Fund’s Shareholders.\n\n(3)\n\nThe Term “Fund Complex” as used herein consists of the Funds and any other registered investment company (i) that holds itself out to investors as a related company for purposes of investment and investor services; or (ii) for which PIMCO or an affiliate of PIMCO serves as primary investment adviser.\n\n(4)\n\nMr. Michel and Ms. Morris were appointed as Trustees of each Fund effective as of September 18, 2025.\n\n(5)\n\nEach of Ms. Cantrill and Mr. Flattum is an Interested Trustee of each Fund due to her/his affiliation with PIMCO and its affiliates.\n\nThe following table states the dollar range of equity securities beneficially owned as of the Record Date by each Trustee and nominee of each Fund and, on an aggregate basis, of any registered investment companies overseen by the Trustees in the “family of investment companies,” including the Funds.\n\n \n\nName of Trustee/\n\nNominee\n\n \n\nDollar Range of Equity\n\nSecurities in the Funds*\n\n \n\nAggregate Dollar Range\n\nof Equity Securities in\n\nAll Registered\n\nInvestment Companies\n\nOverseen by Trustee/\n\nNominee in the Family\n\nof Investment\n\nCompanies*, **\n\n \n\nIndependent Trustees/Nominees\n\n \n\nSarah E. Cogan\n\n \n\nPDI: $10,001 - $50,000\n\nPHK: $10,001 - $50,000\n\nPFN: $10,001 - $50,000\n\n \n \nOver $100,000\n \n\nKathleen A. McCartney\n\n \n\nPDX: $50,001 - $100,000\n\n \n \nOver $100,000\n \n\nMark Michel\n\n \nNone\n \n \nNone\n \n\nSonya Morris\n\n \nNone\n \n \nNone\n \n\nAlan Rappaport\n\n \n\nPDI: $50,001 - $100,000\n\nPDX: $10,001 - $50,000\n\nPFL: $10,001 - $50,000\n\n \n \nOver $100,000\n \n\nInterested Trustees/Nominees\n\n \n\nLibby D. Cantrill\n\n \nNone\n \n \nNone\n \n\nDavid Flattum\n\n \nNone\n \n \nNone\n \n\n \n\n29\n\n \n\n*\n\nSecurities are valued as of the Record Date.\n\n**\n\nThe term “Family of Investment Companies” as used herein consists of the Funds and the following registered investment companies: PIMCO Access Income Fund, PIMCO California Municipal Income Fund, PIMCO Corporate & Income Opportunity Fund, PIMCO Corporate & Income Strategy Fund, PCM Fund, Inc., PIMCO Dynamic Income Opportunities Fund, PIMCO Municipal Income Fund II, PIMCO New York Municipal Income Fund II, PIMCO California Flexible Municipal Income Fund, PIMCO Flexible Municipal Income Fund, PIMCO Flexible Credit Income Fund, PIMCO Flexible Emerging Markets Income Fund and each series of PIMCO Managed Accounts Trust.\n\nTo the knowledge of the Funds, as of the Record Date, Trustees and nominees who are Independent Trustees or Independent Nominees did not knowingly own beneficially securities of an investment adviser or principal underwriter of the Funds or a person (other than a registered investment company) directly or indirectly controlling, controlled by, or under common control with an investment adviser or principal underwriter of the Funds.\n\nCompensation.\n\n Each of the Independent Trustees serves as a trustee of PIMCO California Municipal Income Fund, PIMCO Municipal Income Fund II, PIMCO New York Municipal Income Fund II, PIMCO Access Income Fund, PIMCO Corporate & Income Strategy Fund, PIMCO Corporate & Income Opportunity Fund, PIMCO Dynamic Income Fund, PIMCO High Income Fund, PIMCO Income Strategy Fund, PIMCO Income Strategy Fund II, PIMCO Global StocksPLUS\n®\n& Income Fund, PIMCO Dynamic Income Strategy Fund, PCM Fund, Inc., PIMCO Strategic Income Fund, Inc. and PIMCO Dynamic Income Opportunities Fund, each a\nclosed-end\nfund for which the Manager serves as investment manager (together with the Funds, the “PIMCO\nClosed-End\nFunds”), as well as PIMCO Flexible Emerging Markets Income Fund, PIMCO Flexible Credit Income Fund, PIMCO California Flexible Municipal Income Fund and PIMCO Flexible Municipal Income Fund, each a\nclosed-end\ninvestment management company that is operated as an “interval fund” for which the Manager serves as investment manager (the “PIMCO Interval Funds”) and PIMCO Managed Accounts Trust (“PMAT”), an\nopen-end\ninvestment management company with multiple series for which the Manager serves as investment adviser and administrator (together with the PIMCO\nClosed-End\nFunds and the PIMCO Interval Funds, the “PIMCO-Managed Funds”). Effective August 1, 2025, PIMCO Municipal Income Fund and PIMCO Municipal Income Fund III merged with and into PIMCO Municipal Income Fund II, PIMCO New York Municipal Income Fund and PIMCO New York Municipal Income Fund III merged with and into PIMCO New York Municipal Income Fund II, and\n\n \n\n30\n\nPIMCO California Municipal Income Fund II and PIMCO California Municipal Income Fund III merged with and into PIMCO California Municipal Income Fund.\n\nEach Independent Trustee receives annual compensation of $275,000 for his or her service on the Boards of the PIMCO-Managed Funds, payable quarterly. The Independent Chair of the Boards receives an additional $100,000 per year, payable quarterly; the Audit Oversight Committee Chair receives an additional $35,000 annually, payable quarterly; the Governance and Nominating Committee Chair receives an additional $15,000 annually, payable quarterly; the Performance Committee Chair receives an additional $15,000 annually, payable quarterly; the Valuation Oversight Committee Chair receives an additional $10,000 annually, payable quarterly; and the Contracts Committee Chair receives an additional $30,000 annually, payable quarterly. Trustees are also reimbursed for meeting-related expenses.\n\nEach Trustee’s compensation for his or her service as a Trustee on the Boards of the PIMCO-Managed Funds and other costs in connection with joint meetings of such Funds are allocated among the PIMCO-Managed Funds, as applicable, on the basis of fixed percentages as among PMAT, the PIMCO Interval Funds and the PIMCO\nClosed-End\nFunds. Trustee compensation and other costs are then further allocated pro rata among the individual funds within each grouping based on each such fund’s relative net assets.\n\nThe Funds have no employees. The Funds’ officers and Interested Trustees (Ms. Cantrill and Mr. Flattum) are compensated by the Manager or its affiliates, as applicable.\n\nThe Trustees do not currently receive any pension or retirement benefits from the Funds or the Fund Complex (see below).\n\nThe following table sets forth information regarding the compensation received by the Independent Trustees and nominees for the fiscal year ended June 30, 2025. For the calendar year ended December 31, 2025, the Independent Trustees received the compensation set forth in the table below for serving as Trustees of the Funds and other funds in the same Fund Complex as the Funds. Each officer and each Trustee who is a director, officer, partner, member or employee of the Manager, or of any entity controlling, controlled by or under common control with the Manager, including any Interested Trustee, serves without any compensation from the Funds.\n\n \n\n31\n\nCompensation Table\n\n \n\nName of Trustee/ Nominees\n\n \n\nAggregate\n\nCompensation\n\nfrom PDX for\n\nthe Fiscal\n\nYear Ended\nJune 30, 2025\n\n \n \n\nAggregate\n\nCompensation\n\nfrom RCS for\n\nthe Fiscal\n\nYear Ended\nJune 30, 2025\n\n \n \n\nAggregate\n\nCompensation\n\nfrom PGP for\n\nthe Fiscal\n\nYear Ended\nJune 30, 2025\n\n \n \n\nAggregate\n\nCompensation\n\nfrom PFL for\n\nthe Fiscal\n\nYear Ended\nJune 30, 2025\n\n \n\nIndependent Trustee/Nominee\n\n \n\n \n\n \n\nSarah E. Cogan\n\n \n$\n14,480\n \n \n$\n2,582\n \n \n$\n1,113\n \n \n$\n4,273\n \n\nDeborah A. DeCotis\n(1)\n\n \n$\n17,803\n \n \n$\n3,175\n \n \n$\n1,368\n \n \n$\n5,253\n \n\nKathleen A. McCartney\n\n \n$\n13,055\n \n \n$\n2,328\n \n \n$\n1,003\n \n \n$\n3,853\n \n\nMark Michel\n(2)\n\n \n \nN/A\n \n \n \nN/A\n \n \n \nN/A\n \n \n \nN/A\n \n\nSonya Morris\n(2)\n\n \n \nN/A\n \n \n \nN/A\n \n \n \nN/A\n \n \n \nN/A\n \n\nAlan Rappaport\n\n \n$\n13,768\n \n \n$\n2,455\n \n \n$\n1,058\n \n \n$\n4,063\n \n\nE. Grace Vandecruze\n(3)\n\n \n$\n15,192\n \n \n$\n2,709\n \n \n$\n1,167\n \n \n$\n4,482\n \n\nInterested Trustee/Nominee\n\n \n\n \n\n \n\nLibby D. Cantrill\n(4)\n\n \n \nN/A\n \n \n \nN/A\n \n \n \nN/A\n \n \n \nN/A\n \n\nDavid N. Fisher\n(5)\n\n \n \nN/A\n \n \n \nN/A\n \n \n \nN/A\n \n \n \nN/A\n \n\nDavid Flattum\n(4)\n\n \n \nN/A\n \n \n \nN/A\n \n \n \nN/A\n \n \n \nN/A\n \n\n \n\nName of Trustee/ Nominees\n\n \n\nAggregate\n\nCompensation\n\nfrom PFN for\n\nthe Fiscal\n\nYear Ended\nJune 30, 2025\n\n \n \n\nAggregate\n\nCompensation\n\nfrom PHK for\n\nthe Fiscal\n\nYear Ended\nJune 30, 2025\n\n \n \n\nAggregate\n\nCompensation\n\nfrom PDI for\n\nthe Fiscal\n\nYear Ended\nJune 30, 2025\n\n \n \n\nTotal Compensation\n\nfrom the Funds and\n\nFund Complex Paid\n\nto Trustees/Nominees\n\nfor the Calendar Year\n\nEnded December 31,\n2025\n\n \n\nIndependent Trustee/Nominee\n\n \n\n \n\n \n\nSarah E. Cogan\n\n \n$\n7,980\n \n \n$\n9,559\n \n \n$\n72,476\n \n \n$\n305,000\n \n\nDeborah A. DeCotis\n(1)\n\n \n$\n9,811\n \n \n$\n11,572\n \n \n$\n89,110\n \n \n$\n375,000\n \n\nKathleen A. McCartney\n\n \n$\n7,195\n \n \n$\n8,618\n \n \n$\n65,347\n \n \n$\n275,000\n \n\nMark Michel\n(2)\n\n \n \nN/A\n \n \n \nN/A\n \n \n \nN/A\n \n \n$\n68,750\n \n\nSonya Morris\n(2)\n\n \n \nN/A\n \n \n \nN/A\n \n \n \nN/A\n \n \n$\n68,750\n \n\nAlan Rappaport\n\n \n$\n7,587\n \n \n$\n9,089\n \n \n$\n68,912\n \n \n$\n290,000\n \n\nE. Grace Vandecruze\n(3)\n\n \n$\n8,372\n \n \n$\n10,029\n \n \n$\n76,041\n \n \n$\n320,000\n \n\nInterested Trustee/Nominee\n\n \n\n \n\n \n\nLibby D. Cantrill\n(4)\n\n \n \nN/A\n \n \n \nN/A\n \n \n \nN/A\n \n \n \nN/A\n \n\nDavid N. Fisher\n(5)\n\n \n \nN/A\n \n \n \nN/A\n \n \n \nN/A\n \n \n \nN/A\n \n\nDavid Flattum\n(4)\n\n \n \nN/A\n \n \n \nN/A\n \n \n \nN/A\n \n \n \nN/A\n \n\n \n\n(1)\n\nMs. DeCotis retired from the Board of the Funds as of March 6, 2026. In connection with her retirement, Ms. DeCotis entered into an agreement with the Funds pursuant to which she was engaged as a consultant on an\nas-requested\nbasis through December 31, 2026. Pursuant to the consulting agreement, for the calendar year 2026, Ms. DeCotis was paid the equivalent of one year of her prior Independent Trustee compensation from the Fund Complex of $275,000.\n\n \n\n32\n\n(2)\n\nMr. Michel and Ms. Morris were appointed as Trustees of each Fund effective as of September 18, 2025.\n\n(3)\n\nMs. Vandecruze retired from the Board of the Funds effective December 31, 2025.\n\n(4)\n\nEach of Ms. Cantrill and Mr. Flattum is an Interested Trustee of each Fund and does not receive compensation from the Funds for their service as Trustee.\n\n(5)\n\nMr. Fisher retired from the Board of the Funds as of December 1, 2024. Mr. Fisher was an Interested Trustee of each Fund and did not receive compensation from the Funds for his service as a Trustee.\n\nTrustee and Nominee Qualifications\n\n — The Board has determined that each nominee is qualified to serve as a Trustee based on several factors (none of which alone is decisive). Each nominee is knowledgeable about the Funds’ business and service provider arrangements in part because he or she serves as trustee or director to a number of other investment companies advised by PIMCO and/or its affiliates with similar arrangements to that of the Funds, has had significant experience in the investment management and/or financial services industries, or has other experience deemed qualifying by the Board. Among the factors the Board considers when concluding that an individual is qualified to serve on the Board were the following: (i) the individual’s business and professional experience and accomplishments; (ii) the individual’s ability to work effectively with other members of the Board; (iii) the individual’s prior experience, if any, serving on the boards of public companies (including, where relevant, other investment companies) and other complex enterprises and organizations; and (iv) how the individual’s skills, experiences and attributes would contribute to an appropriate mix of relevant skills and experience on the Board.\n\nIn respect of each Trustee and/or nominee, the individual’s substantial professional accomplishments and prior experience, including, in some cases, in fields related to the operations of the Funds, were a significant factor in the determination by the Board that the individual is qualified to serve as a Trustee of the Funds. The following is a summary of various qualifications, experiences and skills of each Trustee and/or nominee (in addition to business experience during the past five years set forth in the table above) that contributed to the Board’s conclusion that an individual is qualified to serve on the Board. References to qualifications, experiences and skills are not intended to hold out the Board or individual nominees as having any special expertise or experience, and shall not impose any greater responsibility or liability on any such person or on the Board by reason thereof.\n\n \n\n33\n\nLibby D. Cantrill\n\n— Ms. Cantrill has substantial experience in the investment management industry. Ms. Cantrill has more than 20 years of investment experience and is the Head of Public Policy and is a managing director in PIMCO’s portfolio management group. In her role, she analyzes policy and political risk for the firm’s Investment Committee and leads U.S. policymaker engagement and policy strategy for the firm. She also works closely with PIMCO’s Global Advisory Board and has served as a rotating member of the firm’s Executive Committee. Ms. Cantrill is a Chartered Financial Analyst charterholder.\n\nSarah E. Cogan\n\n— Ms. Cogan has substantial legal experience in the investment management industry, having served as a partner at a large international law firm in the corporate department for over 25 years and as former head of the registered funds practice. She has extensive experience in oversight of investment company boards through her experience as counsel to the Independent Trustees of certain PIMCO-Managed Funds and as counsel to other independent trustees, investment companies and asset management firms.\n\nDavid Flattum\n\n— Mr. Flattum joined PIMCO as Global General Counsel in 2006. Previously, he was General Counsel and Chief Operating Officer of Allianz Asset Management of America and a partner at the law firm of Latham & Watkins, specializing in mergers and acquisitions. He has served in numerous leadership capacities, including as Chair of PIMCO’s Audit, Risk, Conflicts, and Pricing Committees and as Chief Legal Officer for the PIMCO Funds. He retired from his role as Global General Counsel of PIMCO at the end of 2023 and has continued to stay engaged with PIMCO as a consultant.\n\nKathleen A. McCartney\n\n— Ms. McCartney has substantial board experience, having served on a number of nonprofit boards, as trustee of Tufts University, director of the American Council on Education, director of the Consortium on Financing Higher Education, founding board member of edX, and director of the Bellwether Education Partners board. She also has substantial senior executive experience as the President Emerita and former President of Smith College and director of Five Colleges, Inc.\n\nMark Michel\n\n— Mr. Michel has substantial experience in the investment management industry, having served as a partner at a large audit and consulting firm in the wealth and asset management practice for over 20 years. He has extensive experience in the oversight of audits for large mutual fund complexes and other financial institutions. He also serves as the Audit Oversight Committee’s Chair and has been determined by the Board to be an “audit committee financial expert.”\n\n \n\n34\n\nSonya Morris\n\n— Ms. Morris has substantial senior executive experience in the investment management industry, having served as a managing director at a large asset manager. She has extensive experience in oversight of investment managers and with institutional and retail distribution channels through her experience at asset management and investment research companies. In addition, she has served as trustee and investment committee chair of a midsized public pension fund. Ms. Morris is a Chartered Financial Analyst charterholder.\n\nAlan Rappaport\n\n — Mr. Rappaport has substantial senior executive experience in the financial services industry. He formerly served as Chairman and President of the Private Bank of Bank of America and as Vice Chairman of U.S. Trust and as an Advisory Director of an investment firm.\n\nCommittees of the Board of Trustees.\n\nAudit Oversight Committee.\n\n The Board of each Fund has established an Audit Oversight Committee in accordance with Section 3(a)(58)(A) of the Securities Exchange Act of 1934, as amended (the “Exchange Act”), currently consisting of Messrs. Michel and Rappaport and Mses. Cogan, McCartney, and Morris, each of whom is an Independent Trustee. Mr. Michel is the current Chair of each Fund’s Audit Oversight Committee. Each Fund’s Audit Oversight Committee provides oversight with respect to the internal and external accounting and auditing procedures of each Fund and, among other things, determines the selection of the independent registered public accounting firm for each Fund and considers the scope of the audit, approves all audit and permitted\nnon-audit\nservices proposed to be performed by those auditors on behalf of each Fund and approves\nnon-audit\nservices to be performed by the auditors for certain affiliates, including the Manager and entities in a control relationship with the Manager that provide services to each Fund where the engagement relates directly to the operations and financial reporting of the Fund. The Audit Oversight Committee considers the possible effect of those services on the independence of the Funds’ independent registered public accounting firm. Each member of each Fund’s Audit Oversight Committee is “independent,” as independence for audit committee members is defined in the currently applicable listing standards of the New York Stock Exchange (“NYSE”), on which the Common Shares of each Fund are listed.\n\nThe Board of each Fund has adopted a written charter for its Audit Oversight Committee. A copy of the written charter for each Fund, as amended through December 19, 2024, is attached to this Proxy Statement as\n Exhibit A\n. A report of the Audit Oversight Committee of each Fund, dated August 14, 2025, is attached to this Proxy Statement as\nExhibit C\n.\n\n \n\n35\n\nGovernance and Nominating Committee.\n\n The Board of each Fund has established a Governance and Nominating Committee composed solely of Independent Trustees, currently consisting of Messrs. Michel and Rappaport and Mses. Cogan, McCartney, and Morris. Ms. McCartney is the current Chair of each Fund’s Governance and Nominating Committee. The primary purposes and responsibilities of each Fund’s Governance and Nominating Committee are: (i) advising and making recommendations to the Board on matters concerning Board governance and related Trustee practices, and (ii) the screening and nomination of candidates for election to the Board as Independent Trustees.\n\nThe responsibilities of each Fund’s Governance and Nominating Committee include considering and making recommendations to the Fund’s Board regarding: (1) governance, retirement and other policies, procedures and practices relating to the Board and the Trustees; (2) in consultation with the Chair of the Board, matters concerning the functions and duties of the Trustees and committees of the Board; (3) the size of the Board and, in consultation with the Chair of the Board, the Board’s committees and their composition; and (4) Board and committee meeting procedures. Each Fund’s Governance and Nominating Committee will also periodically review and recommend for approval by the Board the structure and levels of compensation and any related benefits to be paid or provided by a Fund to the Independent Trustees for their services on the Board and any committees on the Board.\n\nThe Governance and Nominating Committee is responsible for reviewing and recommending qualified candidates to the Board in the event that a position is vacated or created or when Trustees are to be\nre-elected.\nThe Governance and Nominating Committee of each Fund has adopted a charter, which is attached to this Proxy Statement as\nExhibit B\n.\n\nEach member of each Fund’s Governance and Nominating Committee is “independent,” as independence for nominating committee members is defined in the currently applicable listing standards of the NYSE, on which the Common Shares of each Fund are listed.\n\nQualifications, Evaluation and Identification of Trustees/Nominees\n\n.\n\n The Governance and Nominating Committee of each Fund requires that Trustee candidates have a college degree or equivalent business experience. When evaluating candidates, each Fund’s Governance and Nominating Committee may take into account a wide variety of factors including, but not limited to: (i) availability and commitment of a candidate to attend meetings and perform his or her responsibilities on the Board, (ii) relevant industry and related experience, (iii) educational background, (iv) ability, judgment and expertise and (v) overall diversity of the Board’s composition.\n\n \n\n36\n\nThe process of identifying nominees involves the consideration of candidates recommended by one or more of the following sources: (i) the Fund’s current Trustees, (ii) the Fund’s officers, (iii) the Fund’s investment adviser, (iv) the Fund’s shareholders and (v) any other source the Committee deems to be appropriate. The Governance and Nominating Committee of each Fund may, but is not required to, retain a third-party search firm at a Fund’s expense to identify potential candidates.\n\nConsideration of Candidates Recommended by Shareholders.\n\n The Governance and Nominating Committee of each Fund will review and consider nominees recommended by shareholders to serve as Trustees, provided that the recommending shareholder follows the “Procedures for Shareholders to Submit Nominee Candidates for the PIMCO Sponsored\nClosed-End\nFunds”, which are set forth as Appendix B to the Funds’ Governance and Nominating Committee Charter, attached to this Proxy Statement as\nExhibit B\n. Among other requirements, these procedures provide that the recommending shareholder must submit any recommendation in writing to the relevant Fund, to the attention of such Fund’s Secretary, at the address of the principal executive offices of the Fund and that such submission must be received at such offices not less than 45 days nor more than 75 days prior to the date of the Board or shareholder meeting at which the nominee would be elected. Any recommendation must include certain biographical and other information regarding the candidate and the recommending shareholder and must include a written and signed consent of the candidate to be named as a nominee and to serve as a Trustee if elected. The foregoing description of the requirements is only a summary. Please refer to Appendix B to the Governance and Nominating Committee Charter for each Fund, which is attached to this Proxy Statement as\nExhibit B\nfor details.\n\nThe Governance and Nominating Committee has full discretion to reject nominees recommended by shareholders, and there is no assurance that any such person properly recommended and considered by the Committee will be nominated for election to the Board of each Fund.\n\nDiversity.\n\n The Governance and Nominating Committee takes diversity of a particular nominee and overall diversity of the Board into account when considering and evaluating nominees for Trustee. The Board has adopted a diversity policy and, when considering a nominee’s and the Board’s diversity, the Committee generally considers the manner in which each nominee’s professional experience, education, expertise in matters that are relevant to the oversight of the Funds (\n\ne.g.\n\n, investment management, distribution, accounting, trading, compliance, legal), general leadership experience, and life experience are complementary and, as a whole, contribute to the ability of the Board to oversee the Funds.\n\n \n\n37\n\nValuation Oversight Committee.\n\n The Board of each Fund has established a Valuation Oversight Committee currently consisting of Messrs. Michel and Rappaport and Mses. Cogan, McCartney, and Morris. Mr. Michel is the current Chair of each Fund’s Valuation Oversight Committee. The Valuation Oversight Committee has been delegated responsibility by the Board for overseeing determination of the fair value of each Fund’s portfolio securities and other assets. The Valuation Oversight Committee of each Fund reviews and approves procedures for the fair valuation of the Fund’s portfolio securities and periodically reviews reports and assessments provided by the Manager pursuant to the Fund’s valuation procedures and the Manager’s pricing policy. With respect to the fair valuation of portfolio securities for which market quotations are not readily available, the Manager has been designated as “Valuation Designee” for each Fund in accordance with Rule\n2a-5\nunder the 1940 Act. Each Fund’s Valuation Oversight Committee reports to the Board periodically as to the Committee’s activities and oversight of the Manager’s administration of the Fund’s valuation procedures and the Valuation Designee’s carrying out of its responsibilities under Rule\n2a-5.\n\nContracts Committee.\n\n The Board of each Fund has established a Contracts Committee, currently consisting of Messrs. Michel and Rappaport and Mses. Cogan, McCartney, and Morris. Ms. Cogan is the current Chair of each Fund’s Contracts Committee. The Contracts Committee meets as the Board deems necessary to review the performance of, and the reasonableness of the fees paid to, as applicable, the Funds’ investment adviser(s) and any\nsub-adviser(s),\nadministrators(s) and principal underwriters(s) and to make recommendations to the Board regarding the approval and continuance of each Fund’s contractual arrangements for investment advisory,\nsub-advisory,\nadministrative and distribution services, as applicable. The Contracts Committee also may review and evaluate the terms of other contracts or amendments thereto with the Funds’ other major service providers at the Board’s request.\n\nPerformance Committee.\n\nThe Board of each Fund has established a Performance Committee, currently consisting of Messrs. Flattum, Michel and Rappaport and Mses. Cantrill, Cogan, McCartney, and Morris. Ms. Morris is the current Chair of each Fund’s Performance Committee. The Performance Committee’s responsibilities include reviewing the performance of the Funds and any changes in investment philosophy, approach and personnel of the Manager.\n\nMeetings.\n\nWith respect to PDX, during the fiscal year ended June 30, 2025, the Board of Trustees held four regular meetings and two special meetings. The Audit Oversight Committee met in separate session three times, the Governance and Nominating Committee met in separate session four times, the Valuation Oversight Committee met in separate session four times, the Contracts\n\n \n\n38\n\nCommittee met in separate session three times and the Performance Committee met in separate session four times. Each Trustee attended in person or via teleconference at least 75% of the regular meetings of the Board and meetings of the committees on and during which such Trustee served for PDX that were held during the fiscal year ended June 30, 2025.\n\nWith respect to RCS, during the fiscal year ended June 30, 2025, the Board of Directors held four regular meetings and two special meetings. The Audit Oversight Committee met in separate session three times, the Governance and Nominating Committee met in separate session four times, the Valuation Oversight Committee met in separate session four times, the Contracts Committee met in separate session three times and the Performance Committee met in separate session four times. Each Director attended in person or via teleconference at least 75% of the regular meetings of the Board and meetings of the committees on and during which such Director served for RCS that were held during the fiscal year ended June 30, 2025.\n\nWith respect to PGP, during the fiscal year ended June 30, 2025, the Board of Trustees held four regular meetings and two special meetings. The Audit Oversight Committee met in separate session three times, the Governance and Nominating Committee met in separate session four times, the Valuation Oversight Committee met in separate session four times, the Contracts Committee met in separate session three times and the Performance Committee met in separate session four times. Each Trustee attended in person or via teleconference at least 75% of the regular meetings of the Board and meetings of the committees on and during which such Trustee served for PGP that were held during the fiscal year ended June 30, 2025.\n\nWith respect to PHK, during the fiscal year ended June 30, 2025, the Board of Trustees held four regular meetings and two special meetings. The Audit Oversight Committee met in separate session three times, the Governance and Nominating Committee met in separate session four times, the Valuation Oversight Committee met in separate session four times, the Contracts Committee met in separate session three times and the Performance Committee met in separate session four times. Each Trustee attended in person or via teleconference at least 75% of the regular meetings of the Board and meetings of the committees on and during which such Trustee served for PHK that were held during the fiscal year ended June 30, 2025.\n\nWith respect to PDI, during the fiscal year ended June 30, 2025, the Board of Trustees held four regular meetings and two special meetings. The Audit Oversight Committee met in separate session three times, the Governance and Nominating Committee met in separate session four times, the Valuation\n\n \n\n39\n\nOversight Committee met in separate session four times, the Contracts Committee met in separate session three times and the Performance Committee met in separate session four times. Each Trustee attended in person or via teleconference at least 75% of the regular meetings of the Board and meetings of the committees on and during which such Trustee served for PDI that were held during the fiscal year ended June 30, 2025.\n\nWith respect to PFL, during the fiscal year ended June 30, 2025, the Board of Trustees held four regular meetings and two special meetings. The Audit Oversight Committee met in separate session three times, the Governance and Nominating Committee met in separate session four times, the Valuation Oversight Committee met in separate session four times, the Contracts Committee met in separate session three times and the Performance Committee met in separate session four times. Each Trustee attended in person or via teleconference at least 75% of the regular meetings of the Board and meetings of the committees on and during which such Trustee served for PFL that were held during the fiscal year ended June 30, 2025.\n\nWith respect to PFN, during the fiscal year ended June 30, 2025, the Board of Trustees held four regular meetings and two special meetings. The Audit Oversight Committee met in separate session three times, the Governance and Nominating Committee met in separate session four times, the Valuation Oversight Committee met in separate session four times, the Contracts Committee met in separate session three times and the Performance Committee met in separate session four times. Each Trustee attended in person or via teleconference at least 75% of the regular meetings of the Board and meetings of the committees on and during which such Trustee served for PFN that were held during the fiscal year ended June 30, 2025.\n\nThe Trustees generally do not attend shareholder meetings.\n\nShareholder Communications with the Board of Trustees.\n\n The Board of Trustees of each Fund has adopted procedures by which Shareholders may send communications to the Board. Shareholders may mail written communications to the Board to the attention of the Board of Trustees, [name of Fund], c/o Fund Administration, Pacific Investment Management Company LLC, 1633 Broadway, New York, New York 10019. Shareholder communications must (i) be in writing and be signed by the Shareholder and (ii) identify the class and number of Shares held by the Shareholder. The Secretary of each Fund or her designee is responsible for reviewing properly submitted shareholder communications. The Secretary shall either (i) provide a copy of each properly submitted shareholder communication to the Board at its next regularly scheduled Board meeting or (ii) if the Secretary determines that the\n\n \n\n40\n\ncommunication requires more immediate attention, forward the communication to the Trustees promptly after receipt. The Secretary may, in good faith, determine that a shareholder communication should not be provided to the Board because it does not reasonably relate to a Fund or its operations, management, activities, policies, service providers, Board, officers, shareholders or other matters relating to an investment in a Fund or is otherwise routine or ministerial in nature. These procedures do not apply to (i) any communication from an officer or Trustee of a Fund or (ii) any communication from an employee or agent of a Fund, unless such communication is made solely in such employee’s or agent’s capacity as a shareholder, but they shall apply to any shareholder proposal submitted pursuant to Rule\n14a-8\nunder the Exchange Act or any communication made in connection with such a proposal. A Fund’s Trustees are not required to attend the Fund’s shareholder meetings or to otherwise make themselves available to shareholders for communications, other than by the aforementioned procedures.\n\nSection\n\n 16(a) Reports\n\n.\n\n Section 30(h) of the 1940 Act and Section 16(a) of the 1934 Act and the rules thereunder require each Fund’s trustees and certain officers, investment adviser, certain affiliated persons of the investment adviser and persons who beneficially own more than 10% of a registered class of a Fund’s equity securities to file forms reporting their affiliation with the Fund and reports of ownership and changes in ownership of the Fund’s securities with the Securities and Exchange Commission (“SEC”) and the NYSE. Based solely on a review of the forms filed electronically with the SEC and any written representation from reporting persons during the most recently concluded fiscal year, each Fund believes that each of the Trustees and officers, investment adviser and relevant affiliated persons of the investment adviser and the persons who beneficially own more than 10% of any class of outstanding securities of a Fund has complied with all applicable filing requirements during each Fund’s most recently concluded fiscal year.\n\nRequired Vote.\n\nThe election of Mr. Michel and Ms. Morris and the\nre-election\nof Ms. Cantrill to the Board of Trustees of PDX will require the affirmative vote of a plurality of the votes of the Shareholders of the Fund cast in the election and\nre-election\nof Trustees at the Meeting, in person or by proxy. The election of Mr. Michel and Ms. Morris and the\nre-election\nof Ms. McCartney to the Board of Directors of RCS will require the affirmative vote of a plurality of the votes of the Shareholders of the Fund cast in the election and\nre-election\nof Directors at the Meeting, in person or by proxy. The election of Mr. Michel and Ms. Morris and the\nre-election\nof Mr. Rappaport to the Board of Trustees of PGP will require the affirmative vote of a plurality of the votes of the Shareholders of the Fund cast in the election and\nre-election\nof Trustees at the Meeting, in person or by proxy. The election of Mr. Michel and Ms. Morris and the\nre-election\nof\n\n \n\n41\n\nMr. Flattum to the Board of Trustees of PHK will require the affirmative vote of a plurality of the votes of the Shareholders of the Fund cast in the election and\nre-election\nof Trustees at the Meeting, in person or by proxy. The election of Mr. Michel and Ms. Morris and the\nre-election\nof Mr. Flattum to the Board of Trustees of PDI will require the affirmative vote of a plurality of the votes of the Shareholders of the Fund cast in the election and\nre-election\nof Trustees at the Meeting, in person or by proxy. The election of Mr. Michel and Ms. Morris and the\nre-election\nof Ms. McCartney to the Board of Trustees of PFL will require the affirmative vote of a plurality of the votes of the Shareholders of the Fund cast in the election and\nre-election\nof Trustees at the Meeting, in person or by proxy. The election of Mr. Michel and Ms. Morris and the\nre-election\nof Ms. Cantrill to the Board of Trustees of PFN will require the affirmative vote of a plurality of the votes of the Shareholders of the Fund cast in the election and\nre-election\nof Trustees at the Meeting, in person or by proxy.\n\nThe requirement for “the affirmative vote of a plurality of the votes... cast” means, assuming that a quorum is present, that the nominee who receives the largest number of votes of the applicable Shares cast in person or by proxy at the Meeting (even if he or she receives less than a majority) will be elected or\nre-elected,\nas applicable, as a Trustee.\n\nTHE BOARD OF TRUSTEES OF EACH FUND UNANIMOUSLY RECOMMENDS THAT YOU VOTE FOR THE PROPOSAL AND THE ELECTION OF ALL THE NOMINEES\n\nADDITIONAL INFORMATION\n\nExecutive and Other Officers of the Funds.\n\n The table below provides certain information concerning the executive officers of the Funds and certain other officers who perform similar duties. Officers of PDX, PGP, PFL, PFN, PHK and PDI hold office at the pleasure of the relevant Board and until their successors are chosen and qualified, or in each case until he or she sooner dies, resigns, is removed with or without cause or becomes disqualified. Officers of RCS shall be elected or appointed by the Board of Directors each year at its first meeting held after the annual meeting of Shareholders, or at any other time. Officers and employees of the Funds who are principals, officers, members or employees of the Manager are not compensated by the Funds.\n\n \n\n42\n\nName,\n\nAddress\n\nand Year of Birth\n\n  \n\nPosition(s)\nHeld\n\nwith the Funds\n\n  \n\nLength of\n\nTime Served\n\n  \n\nPrincipal Occupation(s)\n\nDuring the Past 5 Years\n\nJoshua D. Ratner\n1\n\n1976\n\n  \nPresident\n  \nSince 2024\n  \n\nExecutive Vice President and Head of Americas Operations – Client, Legal and Funds; Deputy General Counsel, PIMCO. President, PIMCO-Managed Funds, PIMCO Funds, PIMCO Variable Insurance Trust, PIMCO ETF Trust, PIMCO Equity Series, PIMCO Equity Series VIT and PIMCO Flexible Real Estate Income Fund.\n\nDirector, PIMCO Canada Corp.; Director, PIMCO Aurora LLC.\n\nKeisha Audain-Pressley\n1\n\n1975\n\n  \nChief\nCompliance\nOfficer\n  \nSince 2018\n  \nExecutive Vice President and Deputy Chief Compliance Officer, PIMCO. Chief Compliance Officer, PIMCO-Managed Funds, PIMCO Funds, PIMCO Variable Insurance Trust, PIMCO ETF Trust, PIMCO Equity Series, PIMCO Equity Series VIT, PIMCO Flexible Real Estate Income Fund and PIMCO Capital Solutions BDC Corp.\n\nRyan G. Leshaw\n2\n\n1980\n\n  \nChief Legal\nOfficer and\nSecretary\n\n  \n\nChief Legal Officer — Since 2019\n\nSecretary — Since 2024\n\n  \nExecutive Vice President and Deputy General Counsel, PIMCO. Chief Legal Officer and Secretary, PIMCO-Managed Funds, PIMCO Flexible Real Estate Income Fund, PIMCO Capital Solutions BDC Corp., PIMCO Funds, PIMCO Variable Insurance Trust, PIMCO ETF Trust, PIMCO Equity Series and PIMCO Equity Series VIT. Chief Legal Officer, PIMCO Asset-Based Lending Co LLC.\n\n \n\n43\n\nName,\n\nAddress\n\nand Year of Birth\n\n  \n\nPosition(s)\nHeld\n\nwith the Funds\n\n  \n\nLength of\n\nTime Served\n\n  \n\nPrincipal Occupation(s)\n\nDuring the Past 5 Years\n\nPeter G. Strelow\n2\n\n1970\n\n  \nSenior\nVice\nPresident\n  \nSince 2019\n  \nManaging Director and\nCo-Chief\nOperating Officer, PIMCO. Senior Vice President, PIMCO-Managed Funds, PIMCO Funds, PIMCO Variable Insurance Trust, PIMCO ETF Trust, PIMCO Equity Series and PIMCO Equity Series VIT. Formerly, Chief Administrative Officer, PIMCO.\n\nDouglas B. Burrill\n1\n\n1980\n\n  \nVice\nPresident\n  \nSince 2022\n  \nExecutive Vice President, PIMCO. Vice President, PIMCO-Managed Funds, PIMCO Funds, PIMCO Variable Insurance Trust, PIMCO ETF Trust, PIMCO Equity Series, PIMCO Equity Series VIT, PIMCO Flexible Real Estate Income Fund and PIMCO Capital Solutions BDC Corp.\n\nCarol K. Chan\n2\n\n1982\n\n  \nVice\nPresident\n  \nSince 2024\n  \nSenior Vice President, PIMCO. Vice President, PIMCO-Managed Funds, PIMCO Funds, PIMCO Variable Insurance Trust, PIMCO ETF Trust, PIMCO Equity Series, PIMCO Equity Series VIT and PIMCO Flexible Real Estate Income Fund.\n\nAlyssa M.\n\nCreighton\n2\n\n1974\n\n  \nVice\n\nPresident\n\n  \nSince 2024\n  \nSenior Vice President, PIMCO. Vice President, PIMCO-Managed Funds, PIMCO Funds, PIMCO Variable Insurance Trust, PIMCO ETF Trust, PIMCO Equity Series, PIMCO Equity Series VIT, PIMCO Flexible Real Estate Income Fund and PIMCO Capital Solutions BDC Corp.\n\nJason R. Duran\n2\n\n1977\n\n  \nVice\nPresident\n  \nSince 2023\n  \nSenior Vice President, PIMCO. Vice President, PIMCO-Managed Funds, PIMCO Funds, PIMCO Variable Insurance Trust, PIMCO ETF Trust, PIMCO Equity Series, and PIMCO Equity Series VIT.\n\n \n\n44\n\nName,\n\nAddress\n\nand Year of Birth\n\n  \n\nPosition(s)\nHeld\n\nwith the Funds\n\n  \n\nLength of\n\nTime Served\n\n  \n\nPrincipal Occupation(s)\n\nDuring the Past 5 Years\n\nMichele N. Ellis\n2\n\n1975\n\n  \nVice\nPresident\n  \nSince 2024\n  \nVice President, PIMCO. Vice President, PIMCO-Managed Funds, PIMCO Funds, PIMCO Variable Insurance Trust, PIMCO ETF Trust, PIMCO Equity Series, PIMCO Equity Series VIT and PIMCO Flexible Real Estate Income Fund.\n\nKenneth W. Lee\n2\n\n1972\n\n  \nVice\nPresident\n  \nSince 2022\n  \nSenior Vice President, PIMCO. Vice President, PIMCO-Managed Funds, PIMCO Funds, PIMCO Variable Insurance Trust, PIMCO ETF Trust, PIMCO Equity Series, PIMCO Equity Series VIT, PIMCO Flexible Real Estate Income Fund and PIMCO Capital Solutions BDC Corp.\n\nGreg J. Mason\n3\n\n1980\n\n  \nVice\nPresident\n  \nSince 2023\n  \nSenior Vice President, PIMCO. Vice President, PIMCO-Managed Funds, PIMCO Funds, PIMCO Variable Insurance Trust, PIMCO ETF Trust, PIMCO Equity Series, PIMCO Equity Series VIT and PIMCO Flexible Real Estate Income Fund.\n\nColleen P. McLaughlin\n3\n\n1983\n\n  \nVice\nPresident\n  \nSince 2024\n  \nSenior Vice President, PIMCO. Vice President, PIMCO-Managed Funds, PIMCO Funds, PIMCO Variable Insurance Trust, PIMCO ETF Trust, PIMCO Equity Series, PIMCO Equity Series VIT, and PIMCO Flexible Real Estate Income Fund.\n\nShiv Narain\n2\n\n1981\n\n  \nVice\nPresident\n  \nSince 2024\n  \nExecutive Vice President, PIMCO. Vice President, PIMCO-Managed Funds, PIMCO Funds, PIMCO Variable Insurance Trust, PIMCO ETF Trust, PIMCO Equity Series, PIMCO Equity Series VIT and PIMCO Flexible Real Estate Income Fund.\n\n \n\n45\n\nName,\n\nAddress\n\nand Year of Birth\n\n  \n\nPosition(s)\nHeld\n\nwith the Funds\n\n  \n\nLength of\n\nTime Served\n\n  \n\nPrincipal Occupation(s)\n\nDuring the Past 5 Years\n\nKeith A. Werber\n2\n\n1973\n\n  \nVice\nPresident\n  \nSince 2022\n  \nExecutive Vice President, PIMCO. Vice President, PIMCO-Managed Funds, PIMCO Funds, PIMCO Variable Insurance Trust, PIMCO ETF Trust, PIMCO Equity Series, PIMCO Equity Series VIT, PIMCO Flexible Real Estate Income Fund and PIMCO Capital Solutions BDC Corp.\n\nPaul T. Wildermuth\n2\n\n1979\n\n  \nVice\nPresident\n  \nSince 2024\n  \nVice President, PIMCO. Vice President, PIMCO-Managed Funds, PIMCO Funds, PIMCO Variable Insurance Trust, PIMCO ETF Trust, PIMCO Equity Series, PIMCO Equity Series VIT and PIMCO Flexible Real Estate Income Fund.\n\nBijal Y. Parikh\n2\n\n1978\n\n  \nTreasurer\n  \nSince 2021\n  \nExecutive Vice President, PIMCO. Treasurer, PIMCO-Managed Funds, PIMCO Funds, PIMCO Variable Insurance Trust, PIMCO ETF Trust, PIMCO Equity Series, PIMCO Equity Series VIT and PIMCO Flexible Real Estate Income Fund.\n\nBrandon T. Evans\n2\n\n1982\n\n  \nDeputy\nTreasurer\n  \nSince 2022\n  \nSenior Vice President, PIMCO. Deputy Treasurer, PIMCO-Managed Funds, PIMCO Funds, PIMCO Variable Insurance Trust, PIMCO ETF Trust, PIMCO Equity Series, PIMCO Equity Series VIT and PIMCO Flexible Real Estate Income Fund.\n\nErik C. Brown\n3\n\n1967\n\n  \nAssistant\nTreasurer\n  \nSince 2015\n  \nExecutive Vice President, PIMCO. Assistant Treasurer, PIMCO-Managed Funds, PIMCO Funds, PIMCO Variable Insurance Trust, PIMCO ETF Trust, PIMCO Equity Series, PIMCO Equity Series VIT, PIMCO Flexible Real Estate Income Fund and PIMCO Capital Solutions BDC Corp.\n\n \n\n46\n\nName,\n\nAddress\n\nand Year of Birth\n\n  \n\nPosition(s)\nHeld\n\nwith the Funds\n\n  \n\nLength of\n\nTime Served\n\n  \n\nPrincipal Occupation(s)\n\nDuring the Past 5 Years\n\nLaine E. Pacetti\n2\n\n1989\n\n  \nAssistant\nTreasurer\n  \nSince 2024\n  \nVice President, PIMCO. Assistant Treasurer, PIMCO-Managed Funds, PIMCO Funds, PIMCO Variable Insurance Trust, PIMCO ETF Trust, PIMCO Equity Series, PIMCO Equity Series VIT and PIMCO Flexible Real Estate Income Fund.\n\nJason R. Stern\n1\n\n1979\n\n  \nAssistant\nTreasurer\n  \nSince 2024\n  \nVice President, PIMCO. Assistant Treasurer, PIMCO-Managed Funds, PIMCO Funds, PIMCO Variable Insurance Trust, PIMCO ETF Trust, PIMCO Equity Series, PIMCO Equity Series VIT and PIMCO Flexible Real Estate Income Fund.\n\nChi H. Vu\n2\n\n1983\n\n  \nAssistant\nTreasurer\n  \nSince 2024\n  \nVice President, PIMCO. Assistant Treasurer, PIMCO-Managed Funds, PIMCO Funds, PIMCO Variable Insurance Trust, PIMCO ETF Trust, PIMCO Equity Series, PIMCO Equity Series VIT and PIMCO Flexible Real Estate Income Fund.\n\n \n\n1\n \n\nThe business address of these officers is c/o Pacific Investment Management Company LLC, 1633 Broadway, New York, New York 10019.\n\n2\n \n\nThe business address of these officers is c/o Pacific Investment Management Company LLC, 650 Newport Center Drive, Newport Beach, California 92660.\n\n3\n \n\nThe business address of these officers is c/o Pacific Investment Management Company LLC, 401 Congress Ave., Austin, Texas 78701.\n\nEach of the Funds’ executive officers is an “interested person” of each Fund (as defined in Section 2(a)(19) of the 1940 Act) as a result of his or her position(s) set forth in the table above.\n\nInvestment Manager\n\n.\n\n The Manager serves as the investment manager of the Funds. Subject to the supervision of the Board of each Fund, the Manager is responsible for managing the investment activities of the Funds and the Funds’ business affairs and other administrative matters. The Manager is located at\n\n \n\n47\n\n650 Newport Center Drive, Newport Beach, CA, 92660. The Manager is a\nmajority-owned\nindirect subsidiary of Allianz SE, a publicly traded European insurance and financial services company.\n\nIndependent Registered Public Accounting Firm.\n\nThe Audit Oversight Committee of each Fund’s Board and the full Board of each Fund unanimously selected PricewaterhouseCoopers LLP (“PwC”) as the independent registered public accounting firm for the fiscal year ending June 30, 2025. PwC served as the independent registered public accounting firm of each Fund for the fiscal year ended June 30, 2024 and also serves as the independent registered public accounting firm of various other investment companies for which the Manager serves as investment adviser. PwC is located at 1100 Walnut Street, Suite 1300, Kansas City, Missouri 64106. None of the Funds know of any direct financial or material indirect financial interest of PwC in the Funds. A representative of PwC, if requested by any Shareholder, will be present at the Meeting\n\nvia\n\ntelephone to respond to appropriate questions from Shareholders and will have an opportunity to make a statement if he or she chooses to do so.\n\nPre-approval\nPolicies and Procedures.\n\n Each Fund’s Audit Oversight Committee has adopted written policies relating to the\npre-approval\nof audit and permitted\nnon-audit\nservices to be performed by the Fund’s independent registered public accounting firm. Under the policies, on at least an annual basis, a Fund’s Audit Oversight Committee reviews and\npre-approves\nproposed audit and permitted\nnon-audit\nservices to be performed by the independent registered public accounting firm on behalf of the Fund.\n\nIn addition, each Fund’s Audit Oversight Committee\npre-approves\nat least annually any permitted\nnon-audit\nservices (including audit-related services) to be provided by the independent registered public accounting firm to the Manager and any entity controlling, controlled by, or under common control with the Manager that provides ongoing services to the Fund (together, the “Service Affiliates”), provided, in each case, that the engagement relates directly to the operations and financial reporting of the Fund. Although the Audit Oversight Committee does not\npre-approve\nall services provided by the independent registered public accounting firm to Service Affiliates (for instance, if the engagement does not relate directly to the operations and financial reporting of the Fund), the Committee receives an annual report from the independent registered public accounting firm showing the aggregate fees paid by Service Affiliates for such services.\n\nEach Fund’s Audit Oversight Committee may also from time to time\npre-approve\nindividual\nnon-audit\nservices to be provided to the Fund or a Service Affiliate that were not\npre-approved\nas part of the annual process described above. A member of the Audit Oversight Committee to whom this responsibility\n\n \n\n48\n\nhas been delegated (a “Designated Member”) may also\npre-approve\nthese individual\nnon-audit\nservices, provided that the fee for such services does not exceed a\npre-determined\ndollar threshold. Any such\npre-approval\nby the Designated Member is reported to the full Audit Oversight Committee for ratification at its next regularly scheduled meeting.\n\nThe\npre-approval\npolicies provide for waivers of the requirement that the Audit Oversight Committee\npre-approve\npermitted\nnon-audit\nservices provided to the Funds or their Service Affiliates pursuant to de minimis exceptions described in Section 10A of the Exchange Act and applicable regulations (referred to herein as the “de minimis exception”).\n\nAudit Fees.\n\n Audit Fees are fees related to the audit and review of the financial statements included in annual reports and registration statements, and other services that are normally provided in connection with statutory and regulatory filings or engagements. For each Fund’s last two fiscal years as reflected below, the Audit Fees billed by PwC to the Fund or to PIMCO with respect to the Fund are shown in the table below:\n\n \n\nFund\n\n  \n\nFiscal Year Ended\n\n \n  \n\nAudit Fees\n\n \n\nPDX\n\n  \n \nJune 30, 2025\n \n  \n$\n117,399\n \n\n  \n \nJune 30, 2024\n \n  \n$\n115,424\n \n\nRCS\n\n  \n \nJune 30, 2025\n \n  \n$\n77,168\n \n\n  \n \nJune 30, 2024\n \n  \n$\n75,567\n \n\nPGP\n\n  \n \nJune 30, 2025\n \n  \n$\n77,768\n \n\n  \n \nJune 30, 2024\n \n  \n$\n76,267\n \n\nPHK\n\n  \n \nJune 30, 2025\n \n  \n$\n156,679\n \n\n  \n \nJune 30, 2024\n \n  \n$\n98,926\n \n\nPDI\n\n  \n \nJune 30, 2025\n \n  \n$\n184,508\n \n\n  \n \nJune 30, 2024\n \n  \n$\n182,861\n \n\nPFL\n\n  \n \nJune 30, 2025\n \n  \n$\n86,784\n \n\n  \n \nJune 30, 2024\n \n  \n$\n97,183\n \n\nPFN\n\n  \n \nJune 30, 2025\n \n  \n$\n95,578\n \n\n  \n \nJune 30, 2024\n \n  \n$\n105,855\n \n\nAudit-Related Fees.\n\n Audit-Related Fees are fees related to assurance and related services that are reasonably related to the performance of the audit or review of financial statements, but not reported under “Audit Fees” above, and that include accounting consultations, attestation reports, comfort letters, and agreed-upon procedure reports (inclusive of annual review of basic maintenance testing associated with the previously outstanding preferred shares for the Funds), if applicable. The table below shows, for each Fund’s last two fiscal years as reflected below, the Audit-Related Fees billed by PwC to the Fund or to PIMCO with respect to the Fund. During those fiscal years, there were no\nAudit-Related\n\n \n\n49\n\nFees billed by PwC to the Funds’ Service Affiliates for\naudit-related\nservices related directly to the operation and financial reporting of the Funds.\n\n \n\nFund\n\n  \n\nFiscal Year Ended\n\n \n  \n\nAudit-Related Fees\n\n \n\nPDX\n\n  \n \nJune 30, 2025\n \n  \n$\n0\n \n\n  \n \nJune 30, 2024\n \n  \n$\n0\n \n\nRCS\n\n  \n \nJune 30, 2025\n \n  \n$\n0\n \n\n  \n \nJune 30, 2024\n \n  \n$\n0\n \n\nPGP\n\n  \n \nJune 30, 2025\n \n  \n$\n0\n \n\n  \n \nJune 30, 2024\n \n  \n$\n0\n \n\nPHK\n\n  \n \nJune 30, 2025\n \n  \n$\n53,143\n \n\n  \n \nJune 30, 2024\n \n  \n$\n59,380\n \n\nPDI\n\n  \n \nJune 30, 2025\n \n  \n$\n89,193\n \n\n  \n \nJune 30, 2024\n \n  \n$\n45,000\n \n\nPFL\n\n  \n \nJune 30, 2025\n \n  \n$\n53,143\n \n\n  \n \nJune 30, 2024\n \n  \n$\n104,380\n \n\nPFN\n\n  \n \nJune 30, 2025\n \n  \n$\n53,143\n \n\n  \n \nJune 30, 2024\n \n  \n$\n119,380\n \n\nTax Fees.\n\n Tax Fees are fees associated with tax compliance, tax advice and tax planning, including services relating to the filing or amendment of federal, state or local income tax returns, regulated investment company qualification reviews and tax distribution and analysis reviews. The table below shows, for each Fund’s last two fiscal years as reflected below, the aggregate Tax Fees billed by PwC to the Fund or to PIMCO with respect to the Fund. During those fiscal years, there were no Tax Fees billed by PwC to the Funds’ Service Affiliates for\ntax-related\nservices related directly to the operation and financial reporting of the Funds.\n\n \n\nFund\n\n  \n\nFiscal Year Ended\n\n \n  \n\nTax Fees\n\n \n\nPDX\n\n  \n \nJune 30, 2025\n \n  \n$\n0\n \n\n  \n \nJune 30, 2024\n \n  \n$\n0\n \n\nRCS\n\n  \n \nJune 30, 2025\n \n  \n$\n0\n \n\n  \n \nJune 30, 2024\n \n  \n$\n0\n \n\nPGP\n\n  \n \nJune 30, 2025\n \n  \n$\n0\n \n\n  \n \nJune 30, 2024\n \n  \n$\n0\n \n\nPHK\n\n  \n \nJune 30, 2025\n \n  \n$\n0\n \n\n  \n \nJune 30, 2024\n \n  \n$\n0\n \n\nPDI\n\n  \n \nJune 30, 2025\n \n  \n$\n0\n \n\n  \n \nJune 30, 2024\n \n  \n$\n0\n \n\nPFL\n\n  \n \nJune 30, 2025\n \n  \n$\n0\n \n\n  \n \nJune 30, 2024\n \n  \n$\n0\n \n\nPFN\n\n  \n \nJune 30, 2025\n \n  \n$\n0\n \n\n  \n \nJune 30, 2024\n \n  \n$\n0\n \n\n \n\n50\n\nAll Other Fees.\n\n All Other Fees are fees related to services other than those reported above under “Audit Fees,” “Audit-Related Fees” and “Tax Fees.” For each Fund’s last two fiscal years, no such fees were billed by PwC to the Fund or the Fund’s Service Affiliates.\n\nDuring the periods indicated in the tables above, no services described under “Audit-Related Fees,” “Tax Fees” or “All Other Fees” were approved pursuant to the de minimis exception.\n\nAggregate\nNon-Audit\nFees.\n\n The aggregate\nnon-audit\nfees billed by PwC, during each Fund’s last two fiscal years as reflected below, for services rendered to each Fund and the Fund’s Service Affiliates are shown in the table below.\n\n \n\nFund\n\n \n\nFiscal Year Ended\n\n \n \n\nAggregate Non-Audit\n\nFees for Fund\n\n \n \n\nNon-Audit Fees for\n\nService Affiliates\n\n \n \n\nAggregate\n\nNon-Audit Fees†\n\n \n\nPDX\n\n \n \nJune 30, 2025\n \n \n$\n0\n \n \n$\n37,929,836\n \n \n$\n37,929,836\n \n\n \n \nJune 30, 2024\n \n \n$\n0\n \n \n$\n23,072,979\n \n \n$\n23,072,979\n \n\nRCS\n\n \n \nJune 30, 2025\n \n \n$\n0\n \n \n$\n37,929,836\n \n \n$\n37,929,836\n \n\n \n \nJune 30, 2024\n \n \n$\n0\n \n \n$\n23,072,979\n \n \n$\n23,072,979\n \n\nPGP\n\n \n \nJune 30, 2025\n \n \n$\n0\n \n \n$\n37,929,836\n \n \n$\n37,929,836\n \n\n \n \nJune 30, 2024\n \n \n$\n0\n \n \n$\n23,072,979\n \n \n$\n23,072,979\n \n\nPHK\n\n \n \nJune 30, 2025\n \n \n$\n53,143\n \n \n$\n37,929,836\n \n \n$\n37,982,979\n \n\n \n \nJune 30, 2024\n \n \n$\n59,380\n \n \n$\n23,072,979\n \n \n$\n23,132,359\n \n\nPDI\n\n \n \nJune 30, 2025\n \n \n$\n89,193\n \n \n$\n37,929,836\n \n \n$\n38,019,029\n \n\n \n \nJune 30, 2024\n \n \n$\n45,000\n \n \n$\n23,072,979\n \n \n$\n23,117,979\n \n\nPFL\n\n \n \nJune 30, 2025\n \n \n$\n53,143\n \n \n$\n37,929,836\n \n \n$\n37,982,979\n \n\n \n \nJune 30, 2024\n \n \n$\n104,380\n \n \n$\n23,072,979\n \n \n$\n23,177,359\n \n\nPFN\n\n \n \nJune 30, 2025\n \n \n$\n53,143\n \n \n$\n37,929,836\n \n \n$\n37,982,979\n \n\n \n \nJune 30, 2024\n \n \n$\n119,380\n \n \n$\n23,072,979\n \n \n$\n23,192,359\n \n\n \n\n†\n\nConsists of the sum of the Aggregate\nNon-Audit\nFees for Fund and the\nNon-Audit\nFees for Service Affiliates as noted in the columns to the left.\n\nThe table below shows a breakdown of the fees billed by PwC to each Fund, or to PIMCO with respect to each Fund, for the most recently completed fiscal year attributable to the following categories: 1) Audit Fees, 2) Audit-Related Fees, 3) Tax Compliance/Preparation fees and 4) All Other Fees, as well as the percentage of the total fees billed attributable to the “All Other Fees” category.\n\n \n\n \n \n\nPDX\n\n(Fiscal\nYear\nEnded\nJune 30,\n2025)\n\n \n \n\nRCS\n\n(Fiscal\nYear\nEnded\nJune 30,\n2025)\n\n \n \n\nPGP\n\n(Fiscal\nYear\nEnded\nJune 30,\n2025)\n\n \n \n\nPHK\n\n(Fiscal\nYear\nEnded\nJune 30,\n2025)\n\n \n \n\nPDI\n\n(Fiscal\nYear\nEnded\nJune 30,\n2025)\n\n \n \n\nPFL\n\n(Fiscal\nYear\nEnded\nJune 30,\n2025)\n\n \n \n\nPFN\n\n(Fiscal\nYear\nEnded\nJune 30,\n2025)\n\n \n\nAudit Fees\n\n \n$\n117,399\n \n \n$\n77,168\n \n \n$\n77,768\n \n \n$\n156,679\n \n \n$\n184,508\n \n \n$\n86,784\n \n \n$\n95,578\n \n\nAudit-Related Fees\n\n \n$\n0\n \n \n$\n0\n \n \n$\n0\n \n \n$\n53,143\n \n \n$\n89,193\n \n \n$\n53,143\n \n \n$\n53,143\n \n\n \n\n51\n\n \n \n\nPDX\n\n(Fiscal\nYear\nEnded\nJune 30,\n2025)\n\n \n \n\nRCS\n\n(Fiscal\nYear\nEnded\nJune 30,\n2025)\n\n \n \n\nPGP\n\n(Fiscal\nYear\nEnded\nJune 30,\n2025)\n\n \n \n\nPHK\n\n(Fiscal\nYear\nEnded\nJune 30,\n2025)\n\n \n \n\nPDI\n\n(Fiscal\nYear\nEnded\nJune 30,\n2025)\n\n \n \n\nPFL\n\n(Fiscal\nYear\nEnded\nJune 30,\n2025)\n\n \n \n\nPFN\n\n(Fiscal\nYear\nEnded\nJune 30,\n2025)\n\n \n\nTax Compliance/Tax Return Preparation Fees\n\n \n$\n0\n \n \n$\n0\n \n \n$\n0\n \n \n$\n0\n \n \n$\n0\n \n \n$\n0\n \n \n$\n0\n \n\nAll Other Fees\n\n \n$\n0\n \n \n$\n0\n \n \n$\n0\n \n \n$\n0\n \n \n$\n0\n \n \n$\n0\n \n \n$\n0\n \n\nPercentage of Total Fees attributable to All Other Fees\n\n \n \n0\n% \n \n \n0\n% \n \n \n0\n% \n \n \n0\n% \n \n \n0\n% \n \n \n0\n% \n \n \n0\n% \n\nEach Fund’s Audit Oversight Committee has determined that the provision by PwC of\nnon-audit\nservices to the Fund’s Service Affiliates that were not\npre-approved\nby the Committee was compatible with maintaining the independence of PwC as the Fund’s principal auditors.\n\nOther Business.\n\n As of the date of this Proxy Statement, each Fund’s officers and the Manager know of no business to come before the Meeting other than as set forth in the Notice. If any other business is properly brought before the Meeting, the persons named as proxies will vote in their sole discretion.\n\nQuorum, Adjournments, Meeting Logistics and Methods of Tabulation.\n\nA quorum for each of PDX, PGP, PFL, PFN, PHK and PDI at the Meeting will consist of the presence in person or by proxy of thirty percent (30%) of the total Shares of the Fund entitled to vote at such Meeting. For RCS, the presence at the Meeting, in person or by proxy, of Shareholders entitled to cast a majority of the votes entitled to be cast shall be necessary and sufficient to constitute a quorum. If the quorum required for a Proposal has not been met, the persons named as proxies may propose adjournment of the Meeting with respect to such Proposal and, if adjournment is proposed, will vote all Shares that they are entitled to vote in favor of such adjournment. Any adjournments with respect to the Proposal for a Fund will require, with respect to PDX, PGP, PFL, PFN, PHK and PDI, the affirmative vote of a majority of the votes cast upon the question for the relevant Fund, and, with respect to RCS, the affirmative vote of a majority of the Shares of RCS entitled to vote thereon and present in person or represented by proxy at the session of the Meeting to be adjourned. The costs of any additional solicitation and of any adjourned session will be borne by PIMCO under its investment management agreement with the Funds. Any proposal properly brought before the Meeting for which sufficient favorable votes have been received by the time of the Meeting will be acted upon and such action will be final regardless of whether the Meeting is adjourned to permit additional solicitation with respect to any other proposal with respect to which a quorum has not been reached. In certain circumstances in which a Fund has received sufficient votes to approve a matter being recommended for approval by the\n\n \n\n52\n\nFund’s Board, the Fund may request that brokers and nominee entities, in their discretion, withhold or withdraw submission of broker\nnon-votes\nin order to avoid the need for solicitation of additional votes in favor of the proposal.\n\nVotes cast by proxy or in person at the Meeting will be counted by persons appointed by PDX, PGP, PFL, PFN, PHK and PDI as tellers and by RCS as inspectors (collectively, the “Tellers/Inspectors”) for the Meeting. For purposes of determining the presence of a quorum for each Fund, the Tellers/Inspectors will include the total number of Shares present at the Meeting in person or by proxy, including Shares represented by proxies that reflect abstentions and “broker\nnon-votes”\n(\n\ni.e.\n\n, shares held by brokers or nominees as to which instructions have not been received from the beneficial owners or the persons entitled to vote and the broker or nominee does not have the discretionary voting power on a particular matter). For a proposal requiring approval of a plurality of votes cast, such as the election of Trustees, abstentions and broker\nnon-votes\nwill not be counted towards the achievement of a plurality of votes cast for a nominee and will have no effect on the outcome of the proposal. In the case of a contested election, abstentions and\nnon-votes\nmay require a nominee to receive a higher percentage of the votes cast in order to achieve a plurality of the votes cast but will not be counted as votes against such nominee’s election.\n\nReports to Shareholders.\n\n Below is the date on or about which the Annual Report to Shareholders for the most recently completed fiscal year of each Fund was mailed:\n\n \n\nFund\n\n  \n\nMail Date for Annual Report to Shareholders\n\nfor the Most Recently Completed Fiscal Year\n\nPDX\n\n  \nSeptember 10, 2025\n\nRCS/PGP/PDI/PFL/PFN/PHK\n\n  \nSeptember 10, 2025\n\nAdditional copies of the Funds’ Annual Reports and Semi-Annual Reports may be obtained without charge from the Funds by\n\ncalling 1-(844)-337-4626, by\n\nvisiting the Funds’ website at pimco.com/closedendfunds or by writing to the Funds at 1633 Broadway, New York, New York 10019.\n\nShareholder Proposals for\n\nthe Annual Meeting held during the 2026-\n\n2027 Fiscal Year.\n\n It is currently anticipated that each Fund’s next annual meeting of Shareholders after the Meeting addressed in this Proxy Statement will be held in June 2027. Proposals of Shareholders intended to be presented at that annual meeting of each Fund must be received by each Fund no later than January 22, 2027 for inclusion in each Fund’s proxy statement and proxy cards\n\n \n\n53\n\nrelating to that meeting. The submission by a Shareholder of a proposal for inclusion in the proxy materials does not guarantee that it will be included. Shareholder proposals are subject to certain requirements under the federal securities laws and must be submitted in accordance with the applicable Fund’s Bylaws. Shareholders submitting any other proposals (including proposals to elect Trustee nominees) for each Fund intended to be presented at the annual meeting held during the 2026-2027 fiscal year (\n\ni.e\n\n., other than those to be included in the Fund’s proxy materials) must ensure that such proposals are received by each Fund, in good order and complying with all applicable legal requirements and requirements set forth in each Fund’s Bylaws. Each Fund’s Bylaws provide that any such proposal must be received in writing by each Fund not less than 45 days nor more than 60 days prior to the first anniversary date of the date on which each Fund first mailed its proxy materials for the prior year’s shareholder meeting; provided that, if, in accordance with applicable law, the upcoming shareholder meeting is set for a date that is not within 30 days from the anniversary of each Fund’s prior shareholder meeting, such proposal must be received by the later of the close of business on (i) the date 45 days prior to such upcoming shareholder meeting date or (ii) the 10\nth\nbusiness day following the date such upcoming shareholder meeting date is first publicly announced or disclosed. Assuming the next annual meeting is ultimately scheduled to be within 30 days of the June 26 anniversary of this year’s meeting, such proposals must be received no earlier than March 23, 2027 and no later than April 7, 2027 for each Fund. If a Shareholder who wishes to present a proposal fails to notify the Fund within these dates described above, the proxies solicited for the meeting will be voted on the Shareholder’s proposal, if it is properly brought before the meeting, in accordance with the judgment of the persons named in the enclosed proxy card(s). If a Shareholder makes a timely notification, the proxies may still exercise discretionary voting authority under circumstances consistent with the SEC’s proxy rules. Shareholder proposals should be addressed to the attention of the Secretary of the applicable Fund, at the address of the principal executive offices of the Fund, with a copy to David C. Sullivan, Ropes & Gray LLP, Prudential Tower, 800 Boylston Street, Boston, Massachusetts 02199-3600.\n\nPLEASE EXECUTE AND RETURN THE ENCLOSED PROXY CARDS PROMPTLY TO ENSURE THAT A QUORUM IS PRESENT AT THE APPLICABLE ANNUAL MEETING. A SELF-ADDRESSED, POSTAGE-PAID ENVELOPE IS ENCLOSED FOR YOUR CONVENIENCE.\n\nMay 13, 2026\n\n \n\n54\n\nExhibit\n\n A to Proxy Statement\n\nPIMCO Sponsored\nClosed-End\nFunds\n\nAudit Oversight Committee Charter\n\n(Adopted as of January 14, 2004,\n\nas amended through December 19, 2024)\n\nThe Board of Trustees (each a “Board”) of each of the registered investment companies listed in\nAppendix A\nhereto (each, a “Fund” and, collectively, the “Funds”), as the same may be periodically updated, has adopted this Charter to govern the activities of the Audit Oversight Committee (the “Committee”) of the particular Board with respect to its oversight of the Fund. This Charter applies separately to each Fund and its particular Board and Committee, and shall be interpreted accordingly. This Charter supersedes and replaces any audit committee charter previously adopted by the Board or a committee of the Board.\n\nStatement of Purpose and Functions\n\nThe Committee’s general purpose is to oversee the Fund’s accounting and financial reporting policies and practices and its internal controls, including by assisting with the Board’s oversight of the integrity of the Fund’s financial statements, the Fund’s compliance with legal and regulatory requirements relevant to financial reporting matters, the qualifications and independence of the Fund’s independent auditors, and the performance of the Fund’s internal control systems and independent auditors. The Committee’s purpose is also to prepare reports required by Securities and Exchange Commission rules to be included in the Fund’s annual proxy statements, if any.\n\nThe Committee’s function is oversight. While the Committee has the responsibilities set forth in this Charter, it is not the responsibility of the Committee to plan or conduct audits, to prepare or determine that the Fund’s financial statements are complete and accurate and are in accordance with generally accepted accounting principles, or to assure compliance with laws, regulations or any internal rules or policies of the Fund. Fund management is responsible for Fund accounting and the implementation and maintenance of the Fund’s internal control systems, and the independent auditors are responsible for conducting a proper audit of the Fund’s financial statements. Members of the Committee are not employees of the Funds and, in serving on this Committee, are not, and do not hold themselves out to be, acting as accountants or auditors. As such, it is not the duty or responsibility of the Committee or its members to conduct “field work” or other types of auditing or accounting reviews or procedures.\n\n \n\nA-1\n\nEach member of the Committee shall be entitled to rely on (i) the integrity of those persons and organizations within management and outside the Fund from which the Committee receives information and (ii) the accuracy of financial and other information provided to the Committee by such persons or organizations absent actual knowledge to the contrary.\n\nMembership\n\nThe Committee shall be comprised of as many trustees as the Board shall determine, but in any event not less than three (3) Trustees. Each member of the Committee must be a member of the Board. The Board may remove or replace any member of the Committee at any time in its sole discretion.\n\nEach member of the Committee may not be an “interested person” of the Fund, as defined in Section 2(a)(19) of the Investment Company Act of 1940, as amended (the “Investment Company Act”), and must otherwise satisfy the standards for independence of an audit committee member of an investment company issuer as set forth in Rule\n10A-3(b)\n(taking into account any exceptions to those requirements set forth in such rule) under the Securities Exchange Act of 1934, as amended, and under applicable listing standards of the New York Stock Exchange (the “NYSE”). Each member of the Committee must be “financially literate” (or must become so within a reasonable time after his or her appointment to the Committee) and at least one member of the Committee must have “accounting or related financial management expertise,” in each case as the Board interprets such qualification in its business judgment under NYSE listing standards.\n\nUnless the Board otherwise determines, at least one member of the Committee shall be determined by the Board to be an “audit committee financial expert” (as defined for purposes of Form\nN-CSR). \n\nOne or more members of the Committee may be designated by the Board as the Committee’s chair or vice chair, as the case may be, and shall serve for such term or terms as the Board may determine. The Committee Chair shall: (1) schedule meetings to take place at such times and frequency as he or she deems appropriate; (2) provide input to management regarding its establishment of an agenda for each Committee meeting, with assistance from other Committee members as the Chair deems appropriate; (3) serve as chair of each Committee meeting; (4) serve as the primary Committee member who shall interface with management regarding Committee-related matters; and (5) perform such other duties as the Board or the Committee deems appropriate. The Chair can delegate to one or more other Committee members one or more of such duties as he or she deems appropriate. \n\n \n\nA-2\n\nResponsibilities and Duties\n\nThe Committee’s policies and procedures shall remain flexible to facilitate the Committee’s ability to react to changing conditions and to generally discharge its functions. The following describe areas of attention in broad terms. The Committee shall:\n\n1. Determine the selection, retention or termination of the Fund’s independent auditors based on an evaluation of their independence and the nature and performance of the audit and any permitted\nnon-audit\nservices. Decisions by the Committee concerning the selection, retention or termination of the independent auditors shall be submitted to the Board for ratification in accordance with the requirements of Section 32(a) of the Investment Company Act. The Fund’s independent auditors must report directly to the Committee, which shall be responsible for resolution of disagreements between management and the independent auditors relating to financial reporting.\n\n2. To consider the independence of the Fund’s independent auditors at least annually, and in connection therewith receive on a periodic basis formal written disclosures and letters from the independent auditors as required by the applicable rules of the Public Company Accounting Oversight Board (the “PCAOB”).\n\n3. To the extent required by applicable regulations,\npre-approve\n(i) all audit and permitted\nnon-audit\nservices rendered by the independent auditors to the Fund and (ii) all\nnon-audit\nservices rendered by the independent auditors to the Fund’s investment advisers (including\nsub-advisers)\nand to certain of the investment advisers’ affiliates. The Committee may implement policies and procedures by which such services are approved other than by the full Committee.\n\n4. Review and approve the fees charged by the independent auditors to the Fund, the investment advisers and certain affiliates of the investment advisers for audit, audit- related and permitted\nnon-audit\nservices.\n\n5. If and to the extent that the Fund intends to have employees, set clear policies for the hiring by the Fund of employees or former employees of the Fund’s independent auditors.\n\n6. Obtain and review at least annually a report from the independent auditors describing (i) the accounting firm’s internal quality-control procedures and (ii) any material issues raised (a) by the accounting firm’s most recent internal quality-control review or peer review or (b) by any governmental or\n\n \n\nA-3\n\nother professional inquiry or investigation performed within the preceding five years respecting one or more independent audits carried out by the firm, and any steps taken to address any such issues.\n\n7. Review with the Fund’s independent auditors arrangements for and the scope of the annual audit and any special audits, including the form of any opinion proposed to be rendered to the Board and shareholders of the Fund.\n\n8. Meet with management and the independent auditors to review and discuss the Fund’s annual audited financial statements, including a review of any specific disclosures of management’s discussion of the Fund’s investment performance; and, with respect to the Fund’s audited financial statements, discuss with the independent auditors matters required by the applicable rules of the PCAOB and any other matters required to be reported to the Committee under applicable law; and provide a statement whether, based on its review of the Fund’s audited financial statements, the Committee recommends to the Board that the audited financial statements be included in the Fund’s Annual Report.\n\nMeet with management to review and discuss the Fund’s unaudited financial statements included in the semi-annual report, including, if any, a review of any specific disclosure of management’s discussion of the Fund’s investment performance.\n\n9. Review with the independent auditors any audit problems or difficulties encountered in the course of their audit work and management’s responses thereto.\n\n10. Review with management and, as applicable, with the independent auditors the Fund’s accounting and financial reporting policies, practices and internal controls, management’s guidelines and policies with respect to risk assessment and risk management, including the effect on the Fund of any recommendation of changes in accounting principles or practices by management or the independent auditors.\n\n11. Discuss with management any press releases discussing the Fund’s investment performance and other financial information about the Fund, as well as any financial information provided by management to analysts or rating agencies. The Committee may discharge this responsibility by discussing the general types of information to be disclosed by the Fund and the form of presentation (\n\ni.e.\n\n, a\n\ncase-by-case\n\nreview is not required) and need not discuss in advance each such release of information.\n\n \n\nA-4\n\n12. Establish procedures for (i) the receipt, retention, and treatment of complaints received by the Fund regarding accounting, internal accounting controls, or auditing matters; and (ii) the confidential, anonymous submission by employees of the Fund, the Fund’s investment advisers, administrator, principal underwriter (if any) or any other provider of accounting-related services for the investment advisers of concerns regarding accounting or auditing matters.\n\n13. Investigate or initiate the investigation of any fraud, improprieties or suspected improprieties in the Fund’s accounting operations or financial reporting.\n\n14. Review with counsel legal and regulatory matters that have a material impact on the Fund’s financial and accounting reporting policies and practices or its internal controls.\n\n15. Report to the Board on a regular basis (at least annually) on the Committee’s activities.\n\n16. Perform such other functions consistent with this Charter, the Agreement and Declaration of Trust, Articles of Incorporation and/or Bylaws applicable to the Fund, and applicable law or regulation, as the Committee or the Board deems necessary or appropriate.\n\nThe Committee may delegate any portion of its authority and responsibilities as set forth in this Charter to a subcommittee of one or more members of the Committee.\n\nScope of Responsibility\n\nThis Charter shall not be read to impose on the Committee or any member thereof any responsibility to take any action or supervise any activity of the Fund not otherwise specifically imposed by this Charter or applicable law on the Committee (acting as a body) or any member of the Committee (acting individually). The Committee and members thereof shall be held to the same standard of care, as applicable, generally applied to the Board or a Trustee under applicable law, and service on the Committee shall not cause any member thereof to be held to a standard of care different from that applicable to his or her service on the Board generally. The designation of a Committee member as an audit committee financial expert does not impose on such person any duties or responsibilities that are greater than the duties and responsibilities imposed on such person as a member of the Committee and the Board. The designation of an audit committee financial expert also does not affect the duties or responsibilities of any other member of the Committee or the Board.\n\n \n\nA-5\n\nMeetings\n\nAt least annually, the Committee shall meet separately with the independent auditors and separately with the representatives of Fund management responsible for the financial and accounting operations of the Fund. The Committee shall hold other regular or special meetings as and when it deems necessary or appropriate.\n\nOutside Resources and Assistance from Management\n\nThe appropriate officers of the Fund shall provide or arrange to provide such information, data and services as the Committee may request. The Committee shall have the authority to engage at the Fund’s expense independent counsel and other experts and consultants whose expertise the Committee considers necessary to carry out its responsibilities. The Fund shall provide for, or arrange for the provision of, appropriate funding, as determined by the Committee, for the payment of: (i) compensation of the Fund’s independent auditors for the issuance of an audit report relating to the Fund’s financial statements or the performance of other audit, review or attest services for the Fund; (ii) compensation of independent legal counsel or other advisers retained by the Committee; and (iii) ordinary administrative expenses of the Committee that are necessary or appropriate in fulfilling its purposes or carrying out its responsibilities under this Charter.\n\nAnnual Evaluations\n\nThe Committee shall review and reassess the adequacy of this Charter at least annually and recommend any changes to the Board. In addition, the performance of the Committee shall be reviewed at least annually.\n\nAdoption and Amendments\n\nThe Board shall adopt and approve this Charter and may amend the Charter at any time on the Board’s own motion.\n\n \n\nA-6\n\nAppendix A\n\nFunds Subject to this Charter\n\n(As of November 29, 2023)\n\nPCM Fund, Inc. (PCM)\n\nPIMCO Municipal Income Fund (PMF)\n\nPIMCO Municipal Income Fund II (PML)\n\nPIMCO Municipal Income Fund III (PMX)\n\nPIMCO California Municipal Income Fund (PCQ)\n\nPIMCO California Municipal Income Fund II (PCK)\n\nPIMCO California Municipal Income Fund III (PZC)\n\nPIMCO New York Municipal Income Fund (PNF)\n\nPIMCO New York Municipal Income Fund II (PNI)\n\nPIMCO New York Municipal Income III Fund (PYN)\n\nPIMCO Corporate and Income Strategy Fund (PCN)\n\nPIMCO Corporate and Income Opportunity Fund (PTY)\n\nPIMCO High Income Fund (PHK)\n\nPIMCO Income Strategy Fund (PFL)\n\nPIMCO Income Strategy Fund II (PFN)\n\nPIMCO Income Opportunity Fund (PKO)\n\nPIMCO Global StocksPLUS & Income Fund (PGP)\n\nPIMCO Strategic Income Fund, Inc.(RCS)\n\nPIMCO Dynamic Income Fund (PDI)\n\nPIMCO Dynamic Income Opportunities Fund (PDO)\n\nPIMCO Dynamic Income Strategy Fund (PDX)\n\nPIMCO Access Income Fund (PAXS)\n\nPIMCO Municipal Credit Income Fund (PMC)\n\n \n\n \n\nA-7\n\nExhibit B to Proxy Statement\n\nGovernance and Nominating Committee Charter\n\nPIMCO Managed Accounts Trust and\n\nPIMCO Sponsored Closed-End Funds\n\nPIMCO Sponsored Interval Funds\n\nThe Boards of Directors/Trustees (the “Boards”) of each Trust and respective series thereof (each Trust or series, a “Fund”) have adopted this Charter to govern the activities of the Governance and Nominating Committee (the “Committee”) of each Board.\n\nStatement of Purpose and Responsibility\n\nThe primary purpose and responsibility of each Committee are (i) advising and making recommendations to the Board on matters concerning Board governance and related Trustee practices, and (ii) the screening and nomination of candidates for election to the Board as Independent Directors/Trustees, as defined below.\n\nOrganization\n\n1. Each Committee shall be comprised of as many Directors/Trustees as the Board shall determine, but in any event not fewer than two (2) Directors/Trustees. Each Committee must consist entirely of Board members who are not “interested persons” of the relevant Funds (“Independent Trustees”), as defined in Section 2(a)(19) of the Investment Company Act of 1940, as amended. Each Board may remove or replace any member of the Committee at any time in its sole discretion.\n\n2. One or more members of a Committee may be designated by the Board as the Committee’s chair or vice chair, as the case may be, and shall serve for such term or terms as the Board may determine. The Committee Chair shall: (1) schedule meetings to take place at such times and frequency as he or she deems appropriate; (2) provide input to management regarding its establishment of an agenda for each Committee meeting, with assistance from other Committee members as the Chair deems appropriate; (3) serve as chair of each Committee meeting; (4) serve as the primary Committee member who shall interface with management regarding Committee-related matters; and (5) perform such other duties as the Board or the Committee deems appropriate. The Chair can delegate to one or more other Committee members one or more of such duties as he or she deems appropriate.\n\n \n\nB-1\n\n3. The Committee will have at least one regularly scheduled meeting per year to consider the compensation of Independent Trustees and other matters the Committee deems appropriate. Additional Committee meetings shall be held as and when the Committee or the Board determines necessary or appropriate in accordance with each Fund’s Bylaws.\n\nDuties and Responsibilities for Governance Matters\n\n1.\nOverview of Responsibilities\n. The responsibilities of the Committee of each Fund include considering and making recommendations to the Board regarding: (1) governance, retirement and other policies, procedures and practices relating to the Board and the Trustees; (2) in consultation with the Chair of the Trustees, matters concerning the functions and duties of the Trustees and committees of the Board; (3) the size of the Board and, in consultation with the Chair of the Trustees, the Board’s committees and their composition; and (4) Board and committee meeting procedures, including the appropriateness and adequacy of the information supplied to the Trustees in connection with such meetings.\n\n2.\nTrustee Compensation\n. The Committee will periodically review and recommend for approval by the Board the structure and levels of compensation and any related benefits to be paid or provided by each Fund to the Independent Trustees for their services on the Board and any committees of the Board.\n\n3.\nBoard Governance Policies\n. The Committee shall review the Board Governance Policies designed to enhance the independence and effectiveness of the Independent Trustees in serving the interests of the Funds and their shareholders. The Committee shall review these Policies no less than every two years and shall recommend any changes to the Board for its approval.\n\n4. The Committee shall discharge any other duties or responsibilities delegated to the Committee by the Board from time to time.\n\nTrustee Nominations\n\n1.\nQualifications for Director\n\n/Trustee Nominees.\nA Director/Trustee candidate must have a college degree or equivalent business experience. The Committee may take into account a wide variety of factors in considering Director/Trustee candidates, including (but not limited to): (i) availability and commitment of a candidate to attend meetings and perform his or her responsibilities on the Board, (ii) relevant industry and related experience, (iii) educational background, (iv) ability, judgment and expertise and (v) overall\n\n \n\nB-2\n\ndiversity of the Board’s composition. The Committee shall consider the effect of any relationships delineated in the 1940 Act or other types of relationships, (\n\ne.g\n\n., business, financial or family relationships) with the investment adviser(s) or other principal service providers, which might impair independence.\n\n2.\nIdentification of Nominees\n. In identifying potential nominees for a Board, the Committee may consider candidates recommended by the following sources: (i) the Fund’s current Directors/Trustees; (ii) the Fund’s officers; (iii) the Fund’s investment adviser or\nsub-\nadvisers; (iv) shareholders of the Fund (see below); and (v) any other source the Committee deems to be appropriate. The Committee may, but is not required to, retain a third party search firm at the Fund’s expense to identify potential candidates. With respect to annual nominations for the\nClosed-End\nFunds, absent circumstances warranting different action, the Board expects that such nominations will be made in a manner designed to maintain common Board membership with the other Funds.\n\n3.\nConsideration of Candidates Recommended By Shareholders\n. The Committee will consider and evaluate nominee candidates properly submitted by shareholders on the same basis as it considers and evaluates candidates recommended by other sources.\nAppendix A\n(for PIMCO Managed Accounts Trust and PIMCO Sponsored Interval Funds) and\nAppendix B\n(for the PIMCO Sponsored Closed-End Funds) to this Charter, as they may be amended from time to time by a Committee, set forth procedures that must be followed by shareholders to submit properly a nominee candidate to the Committee (recommendations not properly submitted in accordance with\nAppendix A\nor\nAppendix B\n(as applicable) will not be considered by the Committee).\n\n4.\nRecommendation of Candidates to the Board\n. The Committee will recommend to the Board the Directors/Trustees candidates that it deems qualified to serve as Independent Trustees on the Board. To the extent practicable, the Committee will rank such potential nominees for the Board in order of preference. The Committee may also consider and recommend to the Board Trustee candidates who would not qualify as Independent Trustees.\n\nOperating Guidelines\n\n1. The appropriate officers of the Fund shall provide or arrange to provide such information, data and services as the Committee may request. The Committee shall have the resources and authority necessary or appropriate for purposes of discharging its responsibilities under this Charter, including the authority to engage such legal counsel and other experts and consultants at the Fund’s expense as the Committee, in its discretion, deems necessary or appropriate to carry out its responsibilities.\n\n \n\nB-3\n\n2. Absent actual knowledge to the contrary, each Committee member is entitled to rely upon (1) the integrity and competence of those persons and organizations that render services to the Trust and from whom the Committee receives information or reports and (2) the accuracy and completeness (both at the time of presentation and on a continuing basis, as appropriate) of the information and reports provided to the Committee by such persons or organizations. Nothing in this Charter is intended to impose, or should be interpreted as imposing, on any member of the Committee any additional duties or responsibilities over and above those placed on the member in his or her capacity as a Trustee of a Fund, under federal and state law.\n\n \n\nB-4\n\nAppendix A\n\nProcedures for Shareholders to Submit Nominee Candidates for PIMCO Managed Accounts Trust and PIMCO Sponsored Interval Funds\n\nA shareholder of a Fund must follow the following procedures in order to submit properly a nominee recommendation for the Committee’s consideration.\n\n \n\n1.\n\nThe shareholder must submit any such recommendation (a “Shareholder Recommendation”) in writing to a Fund, to the attention of the Secretary, at the address of the principal executive offices of the Fund. Once each quarter, if any Shareholder Recommendations have been received by the Secretary during the quarter, the Secretary will inform the Committee of the new Shareholder Recommendations. Because the Fund does not hold annual or other regular meetings of shareholders for the purpose of electing Trustees, the Committee will accept Shareholder Recommendations on a continuous basis.\n\n \n\n2.\n\nAll Shareholder Recommendations properly submitted to a Fund will be held by the Secretary until such time as (i) the Committee convenes to consider candidates to fill Board vacancies or newly created Board positions (a “Trustee Consideration Meeting”) or (ii) the Committee instructs the Secretary to discard a Shareholder Recommendation following a Trustee Consideration Meeting or an Interim Evaluation (as defined below).\n\n \n\n3.\n\nAt a Trustee Consideration Meeting, the Committee will consider each Shareholder Recommendation then held by the Secretary. Following a Trustee Consideration Meeting, the Committee may instruct the Secretary to discard any or all of the Shareholder Recommendations currently held by the Secretary.\n\n \n\n4.\n\nA Committee may, in its discretion and at any time, convene to conduct an evaluation of validly submitted Shareholder Recommendations (each such meeting, an “Interim Evaluation”) for the purpose of determining which Shareholder Recommendations will be considered at the next Trustee Consideration Meeting. Following an Interim Evaluation, the Committee may instruct the Secretary to discard any or all of the Shareholder Recommendations currently held by the Secretary.\n\n \n\n5.\n\nThe Shareholder Recommendation must include: (i) a statement in writing setting forth (A) the name, date of birth, business address, residence address and nationality of the person recommended by the shareholder (the “candidate”); (B) the number of shares of (and class, if any) of the Fund(s) owned of record or beneficially by the candidate, as reported to such shareholder by the candidate; (C) any other information regarding the\n\n \n\nB-5\n\n \ncandidate called for with respect to director nominees by paragraphs (a), (d), (e) and (f) of Item 401 of Regulation S-K or paragraph (b) of Item 22 of Rule 14a-101 (Schedule 14A) under the Securities Exchange Act of 1934, as amended (the “Exchange Act”), adopted by the Securities and Exchange Commission (“SEC”) (or the corresponding provisions of any regulation or rule subsequently adopted by the SEC or any successor agency applicable to the Trust); (D) any other information regarding the candidate that would be required to be disclosed if the candidate were a nominee in a proxy statement or other filing required to be made in connection with the election of Trustees or directors pursuant to Section 14 of the Exchange Act and the rules and regulations promulgated thereunder; and (E) whether the recommending shareholder believes that the candidate is or will be an “interested person” of the Fund (as defined in the Investment Company Act of 1940, as amended) and, if not an “interested person,” information regarding the candidate that will be sufficient for the Fund to make such determination; (ii) the written and signed consent of the candidate to be named as a nominee and to serve as a Trustee if elected; (iii) the recommending shareholder’s name as it appears on the Fund’s books; (iv) the number of shares of (and class, if any) of the Fund(s) owned beneficially and of record by the recommending shareholder; and (v) a description of all arrangements or understandings between the recommending shareholder and the candidate and any other person or persons (including their names) pursuant to which the recommendation is being made by the recommending shareholder. In addition, the Committee may require the candidate to furnish such other information as it may reasonably require or deem necessary to determine the eligibility of such candidate to serve on the Board or to satisfy applicable law.\n\n \n\nB-6\n\nAppendix B\n\nProcedures for Shareholders to Submit Nominee Candidates for\n\nthe PIMCO Sponsored Closed-End Funds\n\nA Fund shareholder must follow the following procedures in order to properly submit a nominee recommendation for the Committee’s consideration.\n\n \n\n1.\n\nThe shareholder/stockholder must submit any such recommendation (a “Shareholder Recommendation”) in writing to a Fund, to the attention of the Secretary, at the address of the principal executive offices of the Fund.\n\n \n\n2.\n\nThe Shareholder Recommendation must be delivered to or mailed and received at the principal executive offices of a Fund not less than forty-five (45) calendar days nor more than seventy-five (75) calendar days prior to the date of the Board or shareholder meeting at which the nominee would be elected.\n\n \n\n3.\n\nThe Shareholder Recommendation must include: (i) a statement in writing setting forth (A) the name, age, date of birth, business address, residence address and nationality of the person recommended by the shareholder (the “candidate”); (B) the class and number of all shares of the Fund owned of record or beneficially by the candidate, as reported to such shareholder by the candidate; (C) any other information regarding the candidate called for with respect to director nominees by paragraphs (a), (d), (e) and (f) of Item 401 of Regulation S-K or paragraph (b) of Item 22 of Rule 14a-101 (Schedule 14A) under the Securities Exchange Act of 1934, as amended (the “Exchange Act”), adopted by the Securities and Exchange Commission (or the corresponding provisions of any regulation or rule subsequently adopted by the Securities and Exchange Commission or any successor agency applicable to the Fund); (D) any other information regarding the candidate that would be required to be disclosed if the candidate were a nominee in a proxy statement or other filing required to be made in connection with solicitation of proxies for election of Directors/Trustees or directors pursuant to Section 14 of the Exchange Act and the rules and regulations promulgated thereunder; and (E) whether the recommending shareholder believes that the candidate is or will be an “interested person” of the Fund (as defined in the Investment Company Act of 1940, as amended) and, if not an “interested person,” information regarding the candidate that will be sufficient for the Fund to make such determination; (ii) the written and signed consent of the candidate to be named as a nominee and to serve as a Director/Trustee if elected; (iii) the recommending shareholder’s name as it appears on the Fund’s books; (iv) the class and number of all shares of the Fund owned beneficially and of record by the recommending shareholder; and (v) a description of all\n\n \n\nB-7\n\n \narrangements or understandings between the recommending shareholder and the candidate and any other person or persons (including their names) pursuant to which the recommendation is being made by the recommending shareholder. In addition, the Committee may require the candidate to furnish such other information as it may reasonably require or deem necessary to determine the eligibility of such candidate to serve on the Board.\n\n \n\n \n\nB-8\n\nExhibit C to Proxy Statement\n\nReport of Audit Oversight Committees\n\nof the Boards of Trustees/Directors of\n\nPCM Fund, Inc. (PCM)\n\nPIMCO Access Income Fund (PAXS)\n\nPIMCO Corporate & Income Opportunity Fund (PTY)\n\nPIMCO Corporate & Income Strategy Fund (PCN)\n\nPIMCO Dynamic Income Fund (PDI)\n\nPIMCO Dynamic Income Opportunities Fund (PDO)\n\nPIMCO Dynamic Income Strategy Fund (PDX)\n\nPIMCO Flexible Credit Income Fund (PFLEX)\n\nPIMCO Flexible Emerging Markets Income Fund (EMFLX)\n\nPIMCO Global StocksPLUS\n®\n & Income Fund (PGP)\n\nPIMCO High Income Fund (PHK)\n\nPIMCO Income Strategy Fund (PFL)\n\nPIMCO Income Strategy Fund II (PFN)\n\nPIMCO Strategic Income Fund, Inc. (RCS)\n\n(each, a “Fund” and, collectively, the “Funds”)\n\nDated August 14, 2025\n\nThe Audit Oversight Committees (collectively, the “Committee”) oversee the Funds’ financial reporting process on behalf of the Board of Trustees/Directors of each Fund (collectively, the “Board”) and operate under a written Charter adopted by the Board. The Committee meets with each Fund’s management (“Management”) and independent registered public accounting firm and reports the results of its activities to the Board. Management has the primary responsibility for the financial statements and the reporting process, including the system of internal controls. In connection with the Committee’s and independent accountant’s responsibilities, Management has advised that the Funds’ financial statements for the fiscal year ended June 30, 2025 were prepared in conformity with the generally accepted accounting principles.\n\nThe Committee has reviewed and discussed with Management and PricewaterhouseCoopers LLP (“PwC”), the Funds’ independent registered public accounting firm, the audited financial statements for the fiscal year ended June 30, 2025. The Committee has discussed with PwC the matters required to be discussed by Statements on Auditing Standard No. 61 (SAS 61). SAS 61 requires the independent registered public accounting firm to communicate to the Committee matters including, if applicable: 1) methods used to account for significant unusual transactions; 2) the effect of significant accounting policies in controversial or emerging areas for which there is a lack of authoritative\n\n \n\nC-2-1\n\nguidance or consensus; 3) the process used by Management in formulating particularly sensitive accounting estimates and the basis for the auditor’s conclusions regarding the reasonableness of those estimates; and 4) disagreements with Management over the application of accounting principles and certain other matters.\n\nWith respect to each Fund, the Committee has received the written disclosure and the letter from PwC required by Rule 3526 of the Public Company Accounting Oversight Board (requiring registered public accounting firms to make written disclosure to and discuss with the Committee various matters relating to the auditor’s independence), and has discussed with PwC their independence. The Committee has also reviewed the aggregate fees billed by PwC for professional services rendered to each Fund and, to the extent applicable with respect to each Fund’s reporting period, for\nnon-audit\nservices provided to Pacific Investment Management Company LLC (“PIMCO”), the Funds’ investment manager, and any entity controlling, controlled by or under common control with PIMCO that provided services to a Fund during its reporting period. As part of this review, the Committee considered, in addition to other practices and requirements relating to selection of the Funds’ independent registered public accounting firm, whether the provision of such\nnon-audit\nservices was compatible with maintaining the independence of PwC.\n\nBased on the foregoing review and discussions, the Committee presents this Report to the Board and recommends that (1) the audited financial statements for the fiscal year ended June 30, 2025 be included in the Funds’ Annual Report to shareholders for such fiscal year, (2) such Annual Report be filed with the Securities and Exchange Commission and, if applicable, the New York Stock Exchange and (3) PwC be reappointed as the Funds’ independent registered public accounting firm for the fiscal year ending June 30, 2026.\n\nSubmitted by the Audit Oversight Committee of the Board of Trustees:\n\nSarah E. Cogan,\n\nDeborah A. DeCotis,\n\nKathleen McCartney,\n\nAlan Rappaport and\n\nE. Grace Vandecruze\n\n \n\n \n\nC-2-2\n\n \n\n \n\n \n\nCEF_PROXY_062626\n\nYOUR OUR VOTE IS IMPORTANT NO MATTER HOW MANY SHARES YOU OWN. THE MATTERS WE ARE SUBMITTING FOR YOUR CONSIDERATION ARE SIGNIFICANT TO THE FUND AND TO YOU AS A FUND SHAREHOLDER. PLEASE TAKE THE TIME TO READ THE PROXY STATEMENT AND CAST YOUR PROXY VOTE TODAY! SHAREHOLDER NAME AND ADDRESS HERE PROXY CARD PIMCO STRATEGIC INCOME FUND, INC. – COMMON SHARES SIGN, DATE AND VOTE ON THE REVERSE SIDEPROXY VOTING OPTIONS 1. MAIL your signed and voted proxy back in the postage paid envelope provided 2. ONLINE at vote.proxyonline.com using your proxy voting number found below 3. PHONE dial toll-free (888) 227-9349 to reach an automated touchtone voting line 4. LIVE with a live operator when you call toll- free (866) 796-7180 Monday through Friday 9 a.m. to 10 p.m. Eastern time CONTROL NUMBER 12345678910PROXY IN CONNECTION WITH THE ANNUAL MEETING OF SHAREHOLDERS TO BE HELD ON JUNE 26, 2026 The undersigned holder of common shares of PIMCO Strategic Income Fund, Inc., a Maryland corporation (the “Fund”), hereby appoints Ryan G. Leshaw and Myung Shin, or any of them, each with full power of substitution, as the proxy or proxies for the undersigned to: (i) attend the Annual Meeting of Shareholders of the Fund (the “Annual Meeting”) to be held at the offices of Pacific Investment Management Company LLC, at 650 Newport Center Drive, Newport Beach, California 92660, on June 26, 2026 beginning at 8:00 A.M. Pacific Time, and any adjournment(s) or postponement(s) thereof; and (ii) cast on behalf of the undersigned all votes that the undersigned is entitled to cast at the Annual Meeting and otherwise to represent the undersigned with all powers possessed by the undersigned as if personally present at such Annual Meeting. The undersigned acknowledges receipt of the Notice of the Annual Meeting and the accompanying Proxy Statement dated May 13, 2026. The undersigned hereby revokes any prior proxy given with respect to the Annual Meeting, and ratifies and confirms all that the proxies, or any one of them, may lawfully do.THIS PROXY IS SOLICITED ON BEHALF OF THE BOARD OF DIRECTORS OF THE FUND, WHICH UNANIMOUSLY RECOMMENDS THAT YOU VOTE “FOR” THE PROPOSAL. IF THIS PROXY IS PROPERLY EXECUTED, THE VOTES ENTITLED TO BE CAST BY THE UNDERSIGNED WILL BE CAST IN THE MANNER DIRECTED ON THE REVERSE SIDE HEREOF, AND THEY WILL BE VOTED IN THE DISCRETION OF THE PROXY HOLDER(S) ON ANY OTHER MATTERS THAT MAY PROPERLY COME BEFORE THE ANNUAL MEETING OR ANY ADJOURNMENT(S) OR POSTPONEMENT(S) THEREOF. IF THIS PROXY IS PROPERLY EXECUTED BUT NO DIRECTION IS MADE AS REGARDS TO A PROPOSAL INCLUDED IN THE PROXY STATEMENT, SUCH VOTES ENTITLED TO BE CAST BY THE UNDERSIGNED WILL BE CAST “FOR” SUCH PROPOSAL.Please refer to the Proxy Statement for a discussion of the Proposal. PLEASE VOTE, DATE AND SIGN ON THE REVERSE SIDE HEREOF AND RETURN THE SIGNED PROXY PROMPTLY IN THE ENCLOSED ENVELOPE. IMPORTANT NOTICE REGARDING THE AVAILABILITY OF PROXY MATERIALS FOR THE ANNUAL MEETING OF SHAREHOLDERS TO BE HELD ON JUNE 26, 2026. The Proxy Statement and the Annual Report to Shareholders for the fiscal year ended June 30, 2025 for PIMCO Strategic Income Fund, Inc. are also available at https://vote.proxyonline.com/PIMCOFunds/docs. [PROXY ID NUMBER HERE]    [BAR CODE HERE]    [CUSIP HERE]\n\nPIMCO STRATEGIC INCOME FUND, INC. – COMMON SHARES YOUR SIGNATURE IS REQUIRED FOR YOUR VOTE TO BE COUNTED. Please sign exactly as your name(s) appear(s) on the proxy card. Joint owners should each sign personally. Trustees and other fiduciaries should indicate the capacity in which they sign, and where more than one name appears, a majority must sign. If a corporation, the signature should be that of an authorized officer who should state his or her title. PROXY CARD SIGNATURE (AND TITLE IF APPLICABLE) DATE SIGNATURE (IF HELD JOINTLY) DATE TO VOTE, MARK ONE CIRCLE IN BLUE OR BLACK INK. Example: •FOR WITHHOLD PROPOSAL A. Election of Directors — The Board of Directors urges you to vote FOR the election of the Nominees. 1. Nominees: (01) Mark Michel O O (02) Sonya Morris O O (03) Kathleen A. McCartney O O 2. To vote and otherwise represent the undersigned on any other business that may properly come before the Annual Meeting or any adjournment(s) or postponement(s) thereof, in the discretion of the proxy holder(s). B. Non-Voting ItemsChange of Address – Please print new address below.    Comments – Please print your comments below. You can vote on the internet, by telephone or by mail. Please see the reverse side for instructions. PLEASE VOTE ALL YOUR BALLOTS IF YOU RECEIVED MORE THAN ONE BALLOT DUE TO MULTIPLE INVESTMENTS IN THE FUND. REMEMBER TO SIGN AND DATE ABOVE BEFORE MAILING IN YOUR VOTE. THIS PROXY CARD IS VALID ONLY WHEN SIGNED AND DATED. THANK YOU FOR VOTING [PROXY ID NUMBER HERE]    [BAR CODE HERE]    [CUSIP HERE]\n\nYOUR VOTE IS IMPORTANT NO MATTER HOW MANY SHARES YOU OWN. THE MATTERS WE ARE SUBMITTING FOR YOUR CONSIDERATION ARE SIGNIFICANT TO THE FUND AND TO YOU AS A FUND SHAREHOLDER. PLEASE TAKE THE TIME TO READ THE PROXY STATEMENT AND CAST YOUR PROXY VOTE TODAY! SHAREHOLDER NAME AND ADDRESS HERE PROXY CARD PIMCO GLOBAL STOCKSPLUS & INCOME FUND – COMMON SHARES SIGN, DATE AND VOTE ON THE REVERSE SIDEPROXY VOTING OPTIONS 1. MAIL your signed and voted proxy back in the postage paid envelope provided 2. ONLINE at vote.proxyonline.com using your proxy voting number found below 3. PHONE dial toll-free (888) 227-9349 to reach an automated touchtone voting line 4. LIVE with a live operator when you call toll- free (866) 796-7180 Monday through Friday 9 a.m. to 10 p.m. Eastern time CONTROL NUMBER 12345678910PROXY IN CONNECTION WITH THE ANNUAL MEETING OF SHAREHOLDERS TO BE HELD ON JUNE 26, 2026 The undersigned holder of common shares of PIMCO Global StocksPLUS & Income Fund, a Massachusetts business trust (the “Fund”), hereby appoints Ryan G. Leshaw and Myung Shin, or any of them, each with full power of substitution, as the proxy or proxies for the undersigned to: (i) attend the Annual Meeting of Shareholders of the Fund (the “Annual Meeting”) to be held at the offices of Pacific Investment Management Company LLC, at 650 Newport Center Drive, Newport Beach, California 92660, on June 26, 2026 beginning at 8:00 A.M. Pacific Time, and any adjournment(s) or postponement(s) thereof; and (ii) cast on behalf of the undersigned all votes that the undersigned is entitled to cast at the Annual Meeting and otherwise to represent the undersigned with all powers possessed by the undersigned as if personally present at such Annual Meeting. The undersigned acknowledges receipt of the Notice of the Annual Meeting and the accompanying Proxy Statement dated May 13, 2026. The undersigned hereby revokes any prior proxy given with respect to the Annual Meeting, and ratifies and confirms all that the proxies, or any one of them, may lawfully do.THIS PROXY IS SOLICITED ON BEHALF OF THE BOARD OF TRUSTEES OF THE FUND, WHICH UNANIMOUSLY RECOMMENDS THAT YOU VOTE “FOR” THE PROPOSAL.IF THIS PROXY IS PROPERLY EXECUTED, THE VOTES ENTITLED TO BE CAST BY THE UNDERSIGNED WILL BE CAST IN THE MANNER DIRECTED ON THE REVERSE SIDE HEREOF, AND THEY WILL BE VOTED IN THE DISCRETION OF THE PROXY HOLDER(S) ON ANY OTHER MATTERS THAT MAY PROPERLY COME BEFORE THE ANNUAL MEETING OR ANY ADJOURNMENT(S) OR POSTPONEMENT(S) THEREOF. IF THIS PROXY IS PROPERLY EXECUTED BUT NO DIRECTION IS MADE AS REGARDS TO A PROPOSAL INCLUDED IN THE PROXY STATEMENT, SUCH VOTES ENTITLED TO BE CAST BY THE UNDERSIGNED WILL BE CAST “FOR” SUCH PROPOSAL.Please refer to the Proxy Statement for a discussion of the Proposal. PLEASE VOTE, DATE AND SIGN ON THE REVERSE SIDE HEREOF AND RETURN THE SIGNED PROXY PROMPTLY IN THE ENCLOSED ENVELOPE. IMPORTANT NOTICE REGARDING THE AVAILABILITY OF PROXY MATERIALS FOR THE ANNUAL MEETING OF SHAREHOLDERS TO BE HELD ON JUNE 26, 2026. The Proxy Statement and the Annual Report to Shareholders for the fiscal year ended June 30, 2025 for PIMCO Global StocksPLUS & Income Fund are also available at https://vote.proxyonline.com/PIMCOFunds/docs. [PROXY ID NUMBER HERE]    [BAR CODE HERE]    [CUSIP HERE]\n\nPIMCO GLOBAL STOCKSPLUS & INCOME FUND – COMMON SHARES YOUR SIGNATURE IS REQUIRED FOR YOUR VOTE TO BE COUNTED. Please sign exactly as your name(s) appear(s) on the proxy card. Joint owners should each sign personally. Trustees and other fiduciaries should indicate the capacity in which they sign, and where more than one name appears, a majority must sign. If a corporation, the signature should be that of an authorized officer who should state his or her title. PROXY CARD SIGNATURE (AND TITLE IF APPLICABLE)   DATE SIGNATURE (IF HELD JOINTLY)   DATE TO VOTE, MARK ONE CIRCLE IN BLUE OR BLACK INK. Example: •FOR WITHHOLD PROPOSAL A. Election of Trustees — The Board of Trustees urges you to vote FOR the election of the Nominees. 1. Nominees: (01) Mark Michel O O (02) Sonya Morris O O (03) Alan Rappaport O O 2. To vote and otherwise represent the undersigned on any other business that may properly come before the Annual Meeting or any adjournment(s) or postponement(s) thereof, in the discretion of the proxy holder(s). B. Non-Voting ItemsChange of Address – Please print new address below.    Comments – Please print your comments below. You can vote on the internet, by telephone or by mail. Please see the reverse side for instructions. PLEASE VOTE ALL YOUR BALLOTS IF YOU RECEIVED MORE THAN ONE BALLOT DUE TO MULTIPLE INVESTMENTS IN THE FUND. REMEMBER TO SIGN AND DATE ABOVE BEFORE MAILING IN YOUR VOTE. THIS PROXY CARD IS VALID ONLY WHEN SIGNED AND DATED. THANK YOU FOR VOTING [PROXY ID NUMBER HERE]     [BAR CODE HERE]    [CUSIP HERE]\n\nYOUR VOTE IS IMPORTANT NO MATTER HOW MANY SHARES YOU OWN. THE MATTERS WE ARE SUBMITTING FOR YOUR CONSIDERATION ARE SIGNIFICANT TO THE FUND AND TO YOU AS A FUND SHAREHOLDER. PLEASE TAKE THE TIME TO READ THE PROXY STATEMENT AND CAST YOUR PROXY VOTE TODAY! SHAREHOLDER NAME AND ADDRESS HERE PIMCO HIGH INCOME FUND – COMMON SHARES SIGN, DATE AND VOTE ON THE REVERSE SIDE PROXY VOTING OPTIONS 1. MAIL your signed and voted proxy back in the postage paid envelope provided 2. ONLINE at vote.proxyonline.com using your proxy voting number found below 3. PHONE dial toll-free (888) 227-9349 to reach an automated touchtone voting line 4. LIVE with a live operator when you call toll- free (866) 796-7180 Monday through Friday 9 a.m. to 10 p.m. Eastern time CONTROL NUMBER 12345678910 PROXY IN CONNECTION WITH THE ANNUAL MEETING OF SHAREHOLDERS TO BE HELD ON JUNE 26, 2026 The undersigned holder of common shares of PIMCO High Income Fund, a Massachusetts business trust (the “Fund”), hereby appoints Ryan G. Leshaw and Myung Shin, or any of them, each with full power of substitution, as the proxy or proxies for the undersigned to: (i) attend the Annual Meeting of Shareholders of the Fund (the “Annual Meeting”) to be held at the offices of Pacific Investment Management Company LLC, at 650 Newport Center Drive, Newport Beach, California 92660, on June 26, 2026 beginning at 8:00 A.M. Pacific Time, and any adjournment(s) or postponement(s) thereof; and (ii) cast on behalf of the undersigned all votes that the undersigned is entitled to cast at the Annual Meeting and otherwise to represent the undersigned with all powers possessed by the undersigned as if personally present at such Annual Meeting. The undersigned acknowledges receipt of the Notice of the Annual Meeting and the accompanying Proxy Statement dated May 13, 2026. The undersigned hereby revokes any prior proxy given with respect to the Annual Meeting, and ratifies and confirms all that the proxies, or any one of them, may lawfully do.THIS PROXY IS SOLICITED ON BEHALF OF THE BOARD OF TRUSTEES OF THE FUND, WHICH UNANIMOUSLY RECOMMENDS THAT YOU VOTE “FOR” THE PROPOSAL.IF THIS PROXY IS PROPERLY EXECUTED, THE VOTES ENTITLED TO BE CAST BY THE UNDERSIGNED WILL BE CAST IN THE MANNER DIRECTED ON THE REVERSE SIDE HEREOF, AND THEY WILL BE VOTED IN THE DISCRETION OF THE PROXY HOLDER(S) ON ANY OTHER MATTERS THAT MAY PROPERLY COME BEFORE THE ANNUAL MEETING OR ANY ADJOURNMENT(S) OR POSTPONEMENT(S) THEREOF. IF THIS PROXY IS PROPERLY EXECUTED BUT NO DIRECTION IS MADE AS REGARDS TO A PROPOSAL INCLUDED IN THE PROXY STATEMENT, SUCH VOTES ENTITLED TO BE CAST BY THE UNDERSIGNED WILL BE CAST “FOR” SUCH PROPOSAL.Please refer to the Proxy Statement for a discussion of the Proposal. PLEASE VOTE, DATE AND SIGN ON THE REVERSE SIDE HEREOF AND RETURN THE SIGNED PROXY PROMPTLY IN THE ENCLOSED ENVELOPE.IMPORTANT NOTICE REGARDING THE AVAILABILITY OF PROXY MATERIALS FOR THE ANNUAL MEETING OF SHAREHOLDERS TO BE HELD ON JUNE 26, 2026. The Proxy Statement and the Annual Report to Shareholders for the fiscal year ended June 30, 2025 for PIMCO High Income Fund are also available at https://vote.proxyonline.com/PIMCOFunds/docs. [PROXY ID NUMBER HERE]    [BAR CODE HERE]    [CUSIP HERE]\n\nPIMCO HIGH INCOME FUND – COMMON SHARES YOUR SIGNATURE IS REQUIRED FOR YOUR VOTE TO BE COUNTED. Please sign exactly as your name(s) appear(s) on the proxy card. Joint owners should each sign personally. Trustees and other fiduciaries should indicate the capacity in which they sign, and where more than one name appears, a majority must sign. If a corporation, the signature should be that of an authorized officer who should state his or her title. PROXY CARD SIGNATURE (AND TITLE IF APPLICABLE)   DATE SIGNATURE (IF HELD JOINTLY)   DATE TO VOTE, MARK ONE CIRCLE IN BLUE OR BLACK INK. Example: •FOR WITHHOLD PROPOSAL A. Election of Trustees — The Board of Trustees urges you to vote FOR the election of the Nominees. 1. Nominees: (01) Mark Michel O O (02) Sonya Morris O O (03) David Flattum O O 2. To vote and otherwise represent the undersigned on any other business that may properly come before the Annual Meeting or any adjournment(s) or postponement(s) thereof, in the discretion of the proxy holder(s). B. Non-Voting Items Change of Address – Please print new address below.    Comments – Please print your comments below. You can vote on the internet, by telephone or by mail. Please see the reverse side for instructions. PLEASE VOTE ALL YOUR BALLOTS IF YOU RECEIVED MORE THAN ONE BALLOT DUE TO MULTIPLE INVESTMENTS IN THE FUND. REMEMBER TO SIGN AND DATE ABOVE BEFORE MAILING IN YOUR VOTE. THIS PROXY CARD IS VALID ONLY WHEN SIGNED AND DATED. THANK YOU FOR VOTING [PROXY ID NUMBER HERE]     [BAR CODE HERE]    [CUSIP HERE]\n\nYOUR VOTE IS IMPORTANT NO MATTER HOW MANY SHARES YOU OWN. THE MATTERS WE ARE SUBMITTING FOR YOUR CONSIDERATION ARE SIGNIFICANT TO THE FUND AND TO YOU AS A FUND SHAREHOLDER. PLEASE TAKE THE TIME TO READ THE PROXY STATEMENT AND CAST YOUR PROXY VOTE TODAY! SHAREHOLDER NAME AND ADDRESS HERE PROXY CARD PIMCO DYNAMIC INCOME FUND – COMMON SHARES SIGN, DATE AND VOTE ON THE REVERSE SIDE PROXY VOTING OPTIONS 1. MAIL your signed and voted proxy back in the postage paid envelope provided 2. ONLINE at vote.proxyonline.com using your proxy voting number found below 3. PHONE dial toll-free (888) 227-9349 to reach an automated touchtone voting line 4. LIVE with a live operator when you call toll- free (866) 796-7180 Monday through Friday 9 a.m. to 10 p.m. Eastern time CONTROL NUMBER 12345678910 PROXY IN CONNECTION WITH THE ANNUAL MEETING OF SHAREHOLDERS TO BE HELD ON JUNE 26, 2026 The undersigned holder of common shares of PIMCO Dynamic Income Fund, a Massachusetts business trust (the “Fund”), hereby appoints Ryan G. Leshaw and Myung Shin, or any of them, each with full power of substitution, as the proxy or proxies for the undersigned to: (i) attend the Annual Meeting of Shareholders of the Fund (the “Annual Meeting”) to be held at the offices of Pacific Investment Management Company LLC, at 650 Newport Center Drive, Newport Beach, California 92660, on June 26, 2026 beginning at 8:00 A.M. Pacific Time, and any adjournment(s) or postponement(s) thereof; and (ii) cast on behalf of the undersigned all votes that the undersigned is entitled to cast at the Annual Meeting and otherwise to represent the undersigned with all powers possessed by the undersigned as if personally present at such Annual Meeting. The undersigned acknowledges receipt of the Notice of the Annual Meeting and the accompanying Proxy Statement dated May 13, 2026. The undersigned hereby revokes any prior proxy given with respect to the Annual Meeting, and ratifies and confirms all that the proxies, or any one of them, may lawfully do.THIS PROXY IS SOLICITED ON BEHALF OF THE BOARD OF TRUSTEES OF THE FUND, WHICH UNANIMOUSLY RECOMMENDS THAT YOU VOTE “FOR” THE PROPOSAL. IF THIS PROXY IS PROPERLY EXECUTED, THE VOTES ENTITLED TO BE CAST BY THE UNDERSIGNED WILL BE CAST IN THE MANNER DIRECTED ON THE REVERSE SIDE HEREOF, AND THEY WILL BE VOTED IN THE DISCRETION OF THE PROXY HOLDER(S) ON ANY OTHER MATTERS THAT MAY PROPERLY COME BEFORE THE ANNUAL MEETING OR ANY ADJOURNMENT(S) OR POSTPONEMENT(S) THEREOF. IF THIS PROXY IS PROPERLY EXECUTED BUT NO DIRECTION IS MADE AS REGARDS TO A PROPOSAL INCLUDED IN THE PROXY STATEMENT, SUCH VOTES ENTITLED TO BE CAST BY THE UNDERSIGNED WILL BE CAST “FOR” SUCH PROPOSAL. Please refer to the Proxy Statement for a discussion of the Proposal. PLEASE VOTE, DATE AND SIGN ON THE REVERSE SIDE HEREOF AND RETURN THE SIGNED PROXY PROMPTLY IN THE ENCLOSED ENVELOPE. IMPORTANT NOTICE REGARDING THE AVAILABILITY OF PROXY MATERIALS FOR THE ANNUAL MEETING OF SHAREHOLDERS TO BE HELD ON JUNE 26, 2026. The Proxy Statement and the Annual Report to Shareholders for the fiscal year ended June 30, 2025 for PIMCO Dynamic Income Fund are also available at https://vote.proxyonline.com/PIMCOFunds/docs. [PROXY ID NUMBER HERE]     [BAR CODE HERE]    [CUSIP HERE]\n\nPIMCO DYNAMIC INCOME FUND – COMMON SHARES YOUR SIGNATURE IS REQUIRED FOR YOUR VOTE TO BE COUNTED. PROXY CARD Please sign exactly as your name(s) appear(s) on the proxy card. Joint owners should each sign personally. Trustees and other fiduciaries should indicate the capacity in which they sign, and where more than one name appears, a majority must sign. If a corporation, the signature should be that of an authorized officer who should state his or her title. SIGNATURE (AND TITLE IF APPLICABLE)   DATE SIGNATURE (IF HELD JOINTLY)   DATE TO VOTE, MARK ONE CIRCLE IN BLUE OR BLACK INK. Example: •FOR WITHHOLD PROPOSAL A. Election of Trustees — The Board of Trustees urges you to vote FOR the election of the Nominees. 1. Nominees: (01) Mark Michel O O (02) Sonya Morris O O (03) David Flattum O O 2. To vote and otherwise represent the undersigned on any other business that may properly come before the Annual Meeting or any adjournment(s) or postponement(s) thereof, in the discretion of the proxy holder(s). B. Non-Voting Items Change of Address – Please print new address below.    Comments – Please print your comments below. You can vote on the internet, by telephone or by mail. Please see the reverse side for instructions. PLEASE VOTE ALL YOUR BALLOTS IF YOU RECEIVED MORE THAN ONE BALLOT DUE TO MULTIPLE INVESTMENTS IN THE FUND. REMEMBER TO SIGN AND DATE ABOVE BEFORE MAILING IN YOUR VOTE. THIS PROXY CARD IS VALID ONLY WHEN SIGNED AND DATED. THANK YOU FOR VOTING [PROXY ID NUMBER HERE]     [BAR CODE HERE]    [CUSIP HERE]\n\nYOUR VOTE IS IMPORTANT NO MATTER HOW MANY SHARES YOU OWN. THE MATTERS WE ARE SUBMITTING FOR YOUR CONSIDERATION ARE SIGNIFICANT TO THE FUND AND TO YOU AS A FUND SHAREHOLDER. PLEASE TAKE THE TIME TO READ THE PROXY STATEMENT AND CAST YOUR PROXY VOTE TODAY! SHAREHOLDER NAME AND ADDRESS HERE PROXY CARD PIMCO INCOME STRATEGY FUND – COMMON SHARES SIGN, DATE AND VOTE ON THE REVERSE SIDE PROXY VOTING OPTIONS 1. MAIL your signed and voted proxy back in the postage paid envelope provided 2. ONLINE at vote.proxyonline.com using your proxy voting number found below 3. PHONE dial toll-free (888) 227-9349 to reach an automated touchtone voting line 4. LIVE with a live operator when you call toll- free (866) 796-7180 Monday through Friday 9 a.m. to 10 p.m. Eastern time CONTROL NUMBER 12345678910 PROXY IN CONNECTION WITH THE ANNUAL MEETING OF SHAREHOLDERS TO BE HELD ON JUNE 26, 2026 The undersigned holder of common shares of PIMCO Income Strategy Fund, a Massachusetts business trust (the “Fund”), hereby appoints Ryan G. Leshaw and Myung Shin, or any of them, each with full power of substitution, as the proxy or proxies for the undersigned to: (i) attend the Annual Meeting of Shareholders of the Fund (the “Annual Meeting”) to be held at the offices of Pacific Investment Management Company LLC, at 650 Newport Center Drive, Newport Beach, California 92660, on June 26, 2026 beginning at 8:00 A.M. Pacific Time, and any adjournment(s) or postponement(s) thereof; and (ii) cast on behalf of the undersigned all votes that the undersigned is entitled to cast at the Annual Meeting and otherwise to represent the undersigned with all powers possessed by the undersigned as if personally present at such Annual Meeting. The undersigned acknowledges receipt of the Notice of the Annual Meeting and the accompanying Proxy Statement dated May 13, 2026. The undersigned hereby revokes any prior proxy given with respect to the Annual Meeting, and ratifies and confirms all that the proxies, or any one of them, may lawfully do. THIS PROXY IS SOLICITED ON BEHALF OF THE BOARD OF TRUSTEES OF THE FUND, WHICH UNANIMOUSLY RECOMMENDS THAT YOU VOTE “FOR” THE PROPOSAL. IF THIS PROXY IS PROPERLY EXECUTED, THE VOTES ENTITLED TO BE CAST BY THE UNDERSIGNED WILL BE CAST IN THE MANNER DIRECTED ON THE REVERSE SIDE HEREOF, AND THEY WILL BE VOTED IN THE DISCRETION OF THE PROXY HOLDER(S) ON ANY OTHER MATTERS THAT MAY PROPERLY COME BEFORE THE ANNUAL MEETING OR ANY ADJOURNMENT(S) OR POSTPONEMENT(S) THEREOF. IF THIS PROXY IS PROPERLY EXECUTED BUT NO DIRECTION IS MADE AS REGARDS TO A PROPOSAL INCLUDED IN THE PROXY STATEMENT, SUCH VOTES ENTITLED TO BE CAST BY THE UNDERSIGNED WILL BE CAST “FOR” SUCH PROPOSAL. Please refer to the Proxy Statement for a discussion of the Proposal. PLEASE VOTE, DATE AND SIGN ON THE REVERSE SIDE HEREOF AND RETURN THE SIGNED PROXY PROMPTLY IN THE ENCLOSED ENVELOPE. IMPORTANT NOTICE REGARDING THE AVAILABILITY OF PROXY MATERIALS FOR THE ANNUAL MEETING OF SHAREHOLDERS TO BE HELD ON JUNE 26, 2026. The Proxy Statement and the Annual Report to Shareholders for the fiscal year ended June 30, 2025 for PIMCO Income Strategy Fund are also available at https://vote.proxyonline.com/PIMCOFunds/docs. [PROXY ID NUMBER HERE]     [BAR CODE HERE]    [CUSIP HERE]\n\nPIMCO INCOME STRATEGY FUND – COMMON SHARES YOUR SIGNATURE IS REQUIRED FOR YOUR VOTE TO BE COUNTED. Please sign exactly as your name(s) appear(s) on the proxy card. Joint owners should each sign personally. Trustees and other fiduciaries should indicate the capacity in which they sign, and where more than one name appears, a majority must sign. If a corporation, the signature should be that of an authorized officer who should state his or her title. PROXY CARD SIGNATURE (AND TITLE IF APPLICABLE)   DATE SIGNATURE (IF HELD JOINTLY)   DATE TO VOTE, MARK ONE CIRCLE IN BLUE OR BLACK INK. Example: •FOR WITHHOLD PROPOSAL A. Election of Trustees — The Board of Trustees urges you to vote FOR the election of the Nominees. 1. Nominees: (01) Mark Michel O O (02) Sonya Morris O O (03) Kathleen A. McCartney O O 2. To vote and otherwise represent the undersigned on any other business that may properly come before the Annual Meeting or any adjournment(s) or postponement(s) thereof, in the discretion of the proxy holder(s). B. Non-Voting Items Change of Address – Please print new address below.    Comments – Please print your comments below. You can vote on the internet, by telephone or by mail. Please see the reverse side for instructions. PLEASE VOTE ALL YOUR BALLOTS IF YOU RECEIVED MORE THAN ONE BALLOT DUE TO MULTIPLE INVESTMENTS IN THE FUND. REMEMBER TO SIGN AND DATE ABOVE BEFORE MAILING IN YOUR VOTE. THIS PROXY CARD IS VALID ONLY WHEN SIGNED AND DATED. THANK YOU FOR VOTING [PROXY ID NUMBER HERE]     [BAR CODE HERE]    [CUSIP HERE]\n\nYOUR VOTE IS IMPORTANT NO MATTER HOW MANY SHARES YOU OWN. THE MATTERS WE ARE     SUBMITTING FOR YOUR CONSIDERATION ARE SIGNIFICANT TO THE FUND AND TO YOU AS A FUND SHAREHOLDER. PLEASE TAKE THE TIME TO READ THE PROXY STATEMENT AND CAST YOUR PROXY VOTE TODAY! SHAREHOLDER NAME AND ADDRESS HERE PROXY CARD PIMCO INCOME STRATEGY FUND II – COMMON SHARES SIGN, DATE AND VOTE ON THE REVERSE SIDE PROXY VOTING OPTIONS 1. MAIL your signed and voted proxy back in the postage paid envelope provided 2. ONLINE at vote.proxyonline.com using your proxy voting number found below 3. PHONE dial toll-free (888) 227-9349 to reach an automated touchtone voting line 4. LIVE with a live operator when you call toll- free (866) 796-7180 Monday through Friday 9 a.m. to 10 p.m. Eastern time CONTROL NUMBER 12345678910 PROXY IN CONNECTION WITH THE ANNUAL MEETING OF SHAREHOLDERS TO BE HELD ON JUNE 26, 2026 The undersigned holder of common shares of PIMCO Income Strategy Fund II, a Massachusetts business trust (the “Fund”), hereby appoints Ryan G. Leshaw and Myung Shin, or any of them, each with full power of substitution, as the proxy or proxies for the undersigned to: (i) attend the Annual Meeting of Shareholders of the Fund (the “Annual Meeting”) to be held at the offices of Pacific Investment Management Company LLC, at 650 Newport Center Drive, Newport Beach, California 92660, on June 26, 2026 beginning at 8:00 A.M. Pacific Time, and any adjournment(s) or postponement(s) thereof; and (ii) cast on behalf of the undersigned all votes that the undersigned is entitled to cast at the Annual Meeting and otherwise to represent the undersigned with all powers possessed by the undersigned as if personally present at such Annual Meeting. The undersigned acknowledges receipt of the Notice of the Annual Meeting and the accompanying Proxy Statement dated May 13, 2026. The undersigned hereby revokes any prior proxy given with respect to the Annual Meeting, and ratifies and confirms all that the proxies, or any one of them, may lawfully do. THIS PROXY IS SOLICITED ON BEHALF OF THE BOARD OF TRUSTEES OF THE FUND, WHICH UNANIMOUSLY RECOMMENDS THAT YOU VOTE “FOR” THE PROPOSAL. THIS PROXY IS SOLICITED ON BEHALF OF THE BOARD OF TRUSTEES OF THE FUND, WHICH UNANIMOUSLY RECOMMENDS THAT YOU VOTE “FOR” THE PROPOSAL. IF THIS PROXY IS PROPERLY EXECUTED, THE VOTES ENTITLED TO BE CAST BY THE UNDERSIGNED WILL BE CAST IN THE MANNER DIRECTED ON THE REVERSE SIDE HEREOF, AND THEY WILL BE VOTED IN THE DISCRETION OF THE PROXY HOLDER(S) ON ANY OTHER MATTERS THAT MAY PROPERLY COME BEFORE THE ANNUAL MEETING OR ANY ADJOURNMENT(S) OR POSTPONEMENT(S) THEREOF. IF THIS PROXY IS PROPERLY EXECUTED BUT NO DIRECTION IS MADE AS REGARDS TO A PROPOSAL INCLUDED IN THE PROXY STATEMENT, SUCH VOTES ENTITLED TO BE CAST BY THE UNDERSIGNED WILL BE CAST “FOR” SUCH PROPOSAL. Please refer to the Proxy Statement for a discussion of the Proposal. PLEASE VOTE, DATE AND SIGN ON THE REVERSE SIDE HEREOF AND RETURN THE SIGNED PROXY PROMPTLY IN THE ENCLOSED ENVELOPE. IMPORTANT NOTICE REGARDING THE AVAILABILITY OF PROXY MATERIALS FOR THE ANNUAL MEETING OF SHAREHOLDERS TO BE HELD ON JUNE 26, 2026. The Proxy Statement and the Annual Report to Shareholders for the fiscal year ended June 30, 2025 for PIMCO Income Strategy Fund II are also available at https://vote.proxyonline.com/PIMCOFunds/docs. [PROXY ID NUMBER HERE]     [BAR CODE HERE]    [CUSIP HERE]\n\nPIMCO INCOME STRATEGY FUND II – COMMON SHARES YOUR SIGNATURE IS REQUIRED FOR YOUR VOTE TO BE COUNTED. Please sign exactly as your name(s) appear(s) on the proxy card. Joint owners should each sign personally. Trustees and other fiduciaries should indicate the capacity in which they sign, and where more than one name appears, a majority must sign. If a corporation, the signature should be that of an authorized officer who should state his or her title. PROXY CARD SIGNATURE (AND TITLE IF APPLICABLE)   DATE SIGNATURE (IF HELD JOINTLY)   DATE TO VOTE, MARK ONE CIRCLE IN BLUE OR BLACK INK. Example: •FOR WITHHOLD PROPOSAL A. Election of Trustees — The Board of Trustees urges you to vote FOR the election of the Nominees. 1. Nominees: (01) Mark Michel O O (02) Sonya Morris O O (03) Libby D. Cantrill O O 2. To vote and otherwise represent the undersigned on any other business that may properly come before the Annual Meeting or any adjournment(s) or postponement(s) thereof, in the discretion of the proxy holder(s). B. Non-Voting Items Change of Address – Please print new address below.    Comments – Please print your comments below. You can vote on the internet, by telephone or by mail. Please see the reverse side for instructions. PLEASE VOTE ALL YOUR BALLOTS IF YOU RECEIVED MORE THAN ONE BALLOT DUE TO MULTIPLE INVESTMENTS IN THE FUND. REMEMBER TO SIGN AND DATE ABOVE BEFORE MAILING IN YOUR VOTE. THIS PROXY CARD IS VALID ONLY WHEN SIGNED AND DATED. THANK YOU FOR VOTING [PROXY ID NUMBER HERE]     [BAR CODE HERE]    [CUSIP HERE]\n\nSUBMITTING FOR YOUR CONSIDERATION ARE SIGNIFICANT TO THE FUND AND TO YOU AS A FUND SHAREHOLDER. PLEASE TAKE THE TIME TO READ THE PROXY STATEMENT AND CAST YOUR PROXY VOTE TODAY! SHAREHOLDER NAME AND ADDRESS HERE PROXY CARD PIMCO DYNAMIC INCOME STRATEGY FUND – COMMON SHARES SIGN, DATE AND VOTE ON THE REVERSE SIDE PROXY VOTING OPTIONS 1. MAIL your signed and voted proxy back in the postage paid envelope provided 2. ONLINE at vote.proxyonline.com using your proxy voting number found below 3. PHONE dial toll-free (888) 227-9349 to reach an automated touchtone voting line 4. LIVE with a live operator when you call toll- free (866) 796-7180 Monday through Friday 9 a.m. to 10 p.m. Eastern time CONTROL NUMBER 12345678910 PROXY IN CONNECTION WITH THE ANNUAL MEETING OF SHAREHOLDERS TO BE HELD ON JUNE 26, 2026 The undersigned holder of common shares of PIMCO Dynamic Income Strategy Fund, a Massachusetts business trust (the “Fund”), hereby appoints Ryan G. Leshaw and Myung Shin, or any of them, each with full power of substitution, as the proxy or proxies for the undersigned to: (i) attend the Annual Meeting of Shareholders of the Fund (the “Annual Meeting”) to be held at the offices of Pacific Investment Management Company LLC, at 650 Newport Center Drive, Newport Beach, California 92660, on June 26, 2026 beginning at 8:00 A.M. Pacific Time, and any adjournment(s) or postponement(s) thereof; and (ii) cast on behalf of the undersigned all votes that the undersigned is entitled to cast at the Annual Meeting and otherwise to represent the undersigned with all powers possessed by the undersigned as if personally present at such Annual Meeting. The undersigned acknowledges receipt of the Notice of the Annual Meeting and the accompanying Proxy Statement dated May 13, 2026. The undersigned hereby revokes any prior proxy given with respect to the Annual Meeting, and ratifies and confirms all that the proxies, or any one of them, may lawfully do. THIS PROXY IS SOLICITED ON BEHALF OF THE BOARD OF TRUSTEES OF THE FUND, WHICH UNANIMOUSLY RECOMMENDS THAT YOU VOTE “FOR” THE PROPOSAL. IF THIS PROXY IS PROPERLY EXECUTED, THE VOTES ENTITLED TO BE CAST BY THE UNDERSIGNED WILL BE CAST IN THE MANNER DIRECTED ON THE REVERSE SIDE HEREOF, AND THEY WILL BE VOTED IN THE DISCRETION OF THE PROXY HOLDER(S) ON ANY OTHER MATTERS THAT MAY PROPERLY COME BEFORE THE ANNUAL MEETING OR ANY ADJOURNMENT(S) OR POSTPONEMENT(S) THEREOF. IF THIS PROXY IS PROPERLY EXECUTED BUT NO DIRECTION IS MADE AS REGARDS TO A PROPOSAL INCLUDED IN THE PROXY STATEMENT, SUCH VOTES ENTITLED TO BE CAST BY THE UNDERSIGNED WILL BE CAST “FOR” SUCH PROPOSAL. Please refer to the Proxy Statement for a discussion of the Proposal. PLEASE VOTE, DATE AND SIGN ON THE REVERSE SIDE HEREOF AND RETURN THE SIGNED PROXY PROMPTLY IN THE ENCLOSED ENVELOPE. IMPORTANT NOTICE REGARDING THE AVAILABILITY OF PROXY MATERIALS FOR THE ANNUAL MEETING OF SHAREHOLDERS TO BE HELD ON JUNE 26, 2026. The Proxy Statement and the Annual Report to Shareholders for the fiscal year ended June 30, 2025 for PIMCO Dynamic Income Strategy Fund are also available at https://vote.proxyonline.com/PIMCOFunds/docs. [PROXY ID NUMBER HERE]     [BAR CODE HERE]    [CUSIP HERE]\n\nPIMCO DYNAMIC INCOME STRATEGY FUND – COMMON SHARES YOUR SIGNATURE IS REQUIRED FOR YOUR VOTE TO BE COUNTED. Please sign exactly as your name(s) appear(s) on the proxy card. Joint owners should each sign personally. Trustees and other fiduciaries should indicate the capacity in which they sign, and where more than one name appears, a majority must sign. If a corporation, the signature should be that of an authorized officer who should state his or her title. PROXY CARD SIGNATURE (AND TITLE IF APPLICABLE)   DATE SIGNATURE (IF HELD JOINTLY)   DATE TO VOTE, MARK ONE CIRCLE IN BLUE OR BLACK INK. Example: •FOR WITHHOLD PROPOSAL A. Election of Trustees — The Board of Trustees urges you to vote FOR the election of the Nominees. 1. Nominees: (01) Mark Michel O O (02) Sonya Morris O O (03) Libby D. Cantrill O O 2. To vote and otherwise represent the undersigned on any other business that may properly come before the Annual Meeting or any adjournment(s) or postponement(s) thereof, in the discretion of the proxy holder(s). B. Non-Voting Items Change of Address – Please print new address below.    Comments – Please print your comments below. You can vote on the internet, by telephone or by mail. Please see the reverse side for instructions. PLEASE VOTE ALL YOUR BALLOTS IF YOU RECEIVED MORE THAN ONE BALLOT DUE TO MULTIPLE INVESTMENTS IN THE FUND. REMEMBER TO SIGN AND DATE ABOVE BEFORE MAILING IN YOUR VOTE. THIS PROXY CARD IS VALID ONLY WHEN SIGNED AND DATED. THANK YOU FOR VOTING [PROXY ID NUMBER HERE]     [BAR CODE HERE]    [CUSIP HERE]"}