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Press Release

PIMCO Canada Announces Mergers of Certain Closed-end Funds

TORONTO, ONTARIO (September 5, 2024) – PIMCO Canada Corp. (“PIMCO Canada”) today announced its intention to merge three of its existing closed-end funds, PIMCO Tactical Income Fund (TSX: PTI), PIMCO Tactical Income Opportunities Fund (TSX: PTO) and PIMCO Multi-Sector Income Fund (TSX: PIX) (collectively, the “Existing Funds”) into a new closed-end fund that will be created for this purpose.

PIMCO Canada expects that the new combined fund may benefit from larger economies of scale and increased liquidity in the secondary market. Based on its current understanding of applicable tax laws and regulations, PIMCO Canada expects that the mergers will be a taxable event for unitholders. More detailed disclosure regarding the income tax considerations of the mergers will be in the information circular that will be available at a later date. None of the costs and expenses associated with the mergers will be borne by the Existing Funds or their respective unitholders. All such costs will be borne by PIMCO Canada, as manager.

PIMCO Canada intends to complete the mergers by the end of 2024, subject to obtaining all necessary approvals, including approval of unitholders of each Existing Fund at meetings called for that purpose.  Details of the mergers and the record and meeting dates for the unitholder meetings will be announced at a later date.

For further information on PIMCO Canada and the PIMCO funds, please visit www.pimco.ca or call us at 1 866 341 3350 (416 368 3350 in Toronto).

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