0001160990
2026-06-04
2026-06-04
0001160990
cik0001160990:CommonStocksMember
2026-06-04
2026-06-04
0001160990
cik0001160990:CommonSharesMember
2026-06-04
2026-06-04
0001160990
cik0001160990:CommonSharesMember
2023-07-01
2023-09-30
0001160990
cik0001160990:CommonSharesMember
2023-10-01
2023-12-31
0001160990
cik0001160990:CommonSharesMember
2024-01-01
2024-03-31
0001160990
cik0001160990:CommonSharesMember
2024-04-01
2024-06-30
0001160990
cik0001160990:CommonSharesMember
2024-07-01
2024-09-30
0001160990
cik0001160990:CommonSharesMember
2024-10-01
2024-12-31
0001160990
cik0001160990:CommonSharesMember
2025-01-01
2025-03-31
0001160990
cik0001160990:CommonSharesMember
2025-04-01
2025-06-30
0001160990
cik0001160990:CommonSharesMember
2025-07-01
2025-09-30
0001160990
cik0001160990:CommonSharesMember
2026-04-30
0001160990
cik0001160990:CommonSharesMember
2026-04-30
2026-04-30
0001160990
cik0001160990:CommonSharesMember
2025-10-01
2025-12-31
0001160990
cik0001160990:CommonSharesMember
2026-01-01
2026-03-31
pure
iso4217:USD
shares
iso4217:USD
shares
0001160990
false
424B5
Management Fees include fees payable to the Investment Manager for advisory services and for supervisory, administrative and other services. The Fund pays for the advisory, supervisory and administrative services it requires under what is essentially an all-in fee structure (the “unified management fee”). Pursuant to an investment management agreement, PIMCO is paid a Management Fee of 0.81% of the Fund’s average daily net assets (including daily net assets attributable to any preferred shares of the Fund that may be outstanding). The Fund (and not PIMCO) will be responsible for certain fees and expenses, which are reflected in the table above, that are not covered by the management fee under the investment management agreement. Please see “Management of the Fund– Investment Management Agreement” in the accompanying Prospectus for an explanation of the unified management fee and definition of “daily net assets.”
PIMCO Corporate & Income Strategy Fund
<div style="line-height:14.0pt;text-align:left"><div style="color: rgb(0, 104, 125); font-family: "Arial Narrow"; font-size: 12pt; letter-spacing: 0px; top: 0px;display:inline;"><div style="font-weight:bolder;display:inline;">Investment Objectives</div></div></div> <div style="line-height:12.0pt;margin-top:3pt;text-align:left"><div style="margin-top:3pt"><div style="color: rgb(51, 51, 51); font-family: "Arial Narrow"; font-size: 10pt; letter-spacing: 0px; top: 0px;display:inline;">The Fund’s primary investment objective is to seek high current income. Capital preservation and appreciation are secondary objectives.</div></div></div> <div style="line-height:14.0pt;margin-top:9pt;text-align:left"><div style="margin-top:9pt"><div style="color: rgb(0, 104, 125); font-family: "Arial Narrow"; font-size: 12pt; letter-spacing: 0px; top: 0px;display:inline;"><div style="font-weight:bolder;display:inline;">Investment Strategy</div></div></div></div> <div style="line-height:12.0pt;margin-top:3pt;text-align:left"><div style="margin-top:3pt"><div style="color: rgb(51, 51, 51); font-family: "Arial Narrow"; font-size: 10pt; letter-spacing: 0px; top: 0px;display:inline;">The Fund seeks to achieve its investment objectives by utilizing a dynamic asset allocation strategy that focuses on duration management, credit </div><div style="color: rgb(51, 51, 51); font-family: "Arial Narrow"; font-size: 10pt; letter-spacing: 0px; top: 0px;display:inline;">quality analysis, risk management techniques and broad diversification among issuers, industries and sectors. The Fund normally invests in a portfolio </div><div style="color: rgb(51, 51, 51); font-family: "Arial Narrow"; font-size: 10pt; letter-spacing: 0px; top: 0px;display:inline;">that consists primarily of corporate debt obligations of varying maturities, other corporate income-producing securities, and income-producing </div><div style="color: rgb(51, 51, 51); font-family: "Arial Narrow"; font-size: 10pt; letter-spacing: 0px; top: 0px;display:inline;">securities of non-corporate issuers. In managing the Fund, Pacific Investment Management Company LLC, the Fund's investment manager (“PIMCO” </div><div style="color: rgb(51, 51, 51); font-family: "Arial Narrow"; font-size: 10pt; letter-spacing: 0px; top: 0px;display:inline;">or the “Investment Manager”), employs an active approach to allocation among multiple fixed income sectors based on, among other things, market </div><div style="color: rgb(51, 51, 51); font-family: "Arial Narrow"; font-size: 10pt; letter-spacing: 0px; top: 0px;display:inline;">conditions, valuation assessments and economic outlook, credit market trends and other economic factors. PIMCO manages the Fund with a focus on </div><div style="color: rgb(51, 51, 51); font-family: "Arial Narrow"; font-size: 10pt; letter-spacing: 0px; top: 0px;display:inline;">seeking income generating investment ideas across multiple fixed income sectors, with an emphasis on seeking opportunities in developed and </div><div style="color: rgb(51, 51, 51); font-family: "Arial Narrow"; font-size: 10pt; letter-spacing: 0px; top: 0px;display:inline;">emerging global credit markets. The types of securities and instruments in which the Fund may invest are summarized under “Portfolio Contents” in </div><div style="color: rgb(51, 51, 51); font-family: "Arial Narrow"; font-size: 10pt; letter-spacing: 0px; top: 0px;display:inline;">the accompanying Prospectus. The Fund cannot assure you that it will achieve its investment objectives, and you could lose all of your investment in </div><div style="color: rgb(51, 51, 51); font-family: "Arial Narrow"; font-size: 10pt; letter-spacing: 0px; top: 0px;display:inline;">the Fund.</div></div></div>
<div style="line-height:14.0pt;margin-top:9pt;text-align:left"><div style="margin-top:9pt"><div style="color: rgb(0, 104, 125); font-family: "Arial Narrow"; font-size: 12pt; letter-spacing: 0px; top: 0px;display:inline;"><div style="font-weight:bolder;display:inline;">Risks</div></div></div></div> <div style="line-height:12.0pt;margin-top:3pt;text-align:left"><div style="margin-top:3pt"><div style="color: rgb(51, 51, 51); font-family: "Arial Narrow"; font-size: 10pt; letter-spacing: 0px; top: 0px;display:inline;">Investment in the Common Shares involves substantial risks arising from, among other strategies, the Fund’s ability to invest in debt instruments that </div><div style="color: rgb(51, 51, 51); font-family: "Arial Narrow"; font-size: 10pt; letter-spacing: 0px; top: 0px;display:inline;">are, at the time of purchase, rated below investment grade (below Baa3 by Moody’s Investors Service, Inc. or below BBB- by either S&P Global Ratings </div><div style="color: rgb(51, 51, 51); font-family: "Arial Narrow"; font-size: 10pt; letter-spacing: 0px; top: 0px;display:inline;">or Fitch Ratings, Inc.) or that are unrated but determined by PIMCO to be of comparable quality, the Fund’s exposure to foreign (including emerging </div><div style="color: rgb(51, 51, 51); font-family: "Arial Narrow"; font-size: 10pt; letter-spacing: 0px; top: 0px;display:inline;">markets) securities and currencies and to mortgage-related and other asset-backed securities, and the Fund’s use of leverage. Debt instruments of </div><div style="color: rgb(51, 51, 51); font-family: "Arial Narrow"; font-size: 10pt; letter-spacing: 0px; top: 0px;display:inline;">below investment grade quality are regarded as having predominantly speculative characteristics with respect to capacity to pay interest and to repay </div><div style="color: rgb(51, 51, 51); font-family: "Arial Narrow"; font-size: 10pt; letter-spacing: 0px; top: 0px;display:inline;">principal, and are commonly referred to as “high yield” securities or “junk bonds.” The Fund’s exposure to foreign securities and currencies, and </div><div style="color: rgb(51, 51, 51); font-family: "Arial Narrow"; font-size: 10pt; letter-spacing: 0px; top: 0px;display:inline;">particularly to emerging markets securities and currencies, involves special risks, including foreign currency risk and the risk that the securities may </div><div style="color: rgb(51, 51, 51); font-family: "Arial Narrow"; font-size: 10pt; letter-spacing: 0px; top: 0px;display:inline;">decline in response to unfavorable political and legal developments, unreliable or untimely information or economic and financial instability. </div><div style="color: rgb(51, 51, 51); font-family: "Arial Narrow"; font-size: 10pt; letter-spacing: 0px; top: 0px;display:inline;">Mortgage-related and other asset-backed securities are subject to extension and prepayment risk and often have complicated structures that make </div><div style="color: rgb(51, 51, 51); font-family: "Arial Narrow"; font-size: 10pt; letter-spacing: 0px; top: 0px;display:inline;">them difficult to value. Because of the risks associated with investing in high yield securities, foreign (including emerging markets) securities (and </div><div style="color: rgb(51, 51, 51); font-family: "Arial Narrow"; font-size: 10pt; letter-spacing: 0px; top: 0px;display:inline;">related exposure to foreign currencies) and mortgage-related and other asset-backed securities, and using leverage, an investment in the Fund should </div><div style="color: rgb(51, 51, 51); font-family: "Arial Narrow"; font-size: 10pt; letter-spacing: 0px; top: 0px;display:inline;">be considered speculative. The sale of Common Shares by the Fund (or the perception that such sales may occur), particularly if sold at a discount to </div><div style="color: rgb(51, 51, 51); font-family: "Arial Narrow"; font-size: 10pt; letter-spacing: 0px; top: 0px;display:inline;">the then-current market price of the Common Shares, may have an adverse effect on the market price of the Common Shares. Before investing in the </div><div style="color: rgb(51, 51, 51); font-family: "Arial Narrow"; font-size: 10pt; letter-spacing: 0px; top: 0px;display:inline;">Common Shares, you should read the discussion of the principal risks of investing in the Fund in “Principal Risks of the Fund” in the accompanying </div><div style="color: rgb(51, 51, 51); font-family: "Arial Narrow"; font-size: 10pt; letter-spacing: 0px; top: 0px;display:inline;">Prospectus. Certain of these risks are summarized in “Prospectus Summary—Principal Risks of the Fund” in the accompanying Prospectus. The Fund </div><div style="color: rgb(51, 51, 51); font-family: "Arial Narrow"; font-size: 10pt; letter-spacing: 0px; top: 0px;display:inline;">cannot assure you that it will achieve its investment objectives, and you could lose all of your investment in the Fund.</div><div style="color: rgb(0, 0, 0); font-family: "Arial Narrow"; font-size: 10pt; line-height: 12pt; letter-spacing: 0px; top: 0px;display:inline;"> </div></div></div>
<div style="line-height:12.0pt;margin-top:3pt;text-align:left"><div style="margin-top:3pt"><div style="color: rgb(51, 51, 51); font-family: "Arial Narrow"; font-size: 10pt; letter-spacing: 0px; top: 0px;display:inline;">The following table is intended to assist investors in understanding the fees and expenses (annualized) that an investor in Common Shares of the </div><div style="color: rgb(51, 51, 51); font-family: "Arial Narrow"; font-size: 10pt; letter-spacing: 0px; top: 0px;display:inline;">Fund would bear, directly or indirectly, as a result of an offering. The table reflects the use of leverage attributable to the Fund's reverse repurchase </div><div style="color: rgb(51, 51, 51); font-family: "Arial Narrow"; font-size: 10pt; letter-spacing: 0px; top: 0px;display:inline;">agreements averaged over the period ended December 31, 2025 in an amount equal to 9.00% of the Fund’s average total managed assets, including </div><div style="color: rgb(51, 51, 51); font-family: "Arial Narrow"; font-size: 10pt; letter-spacing: 0px; top: 0px;display:inline;">the assets attributable to such leverage (or 9.89% of the Fund’s average total net assets attributable to Common Shares) and shows Fund expenses </div><div style="color: rgb(51, 51, 51); font-family: "Arial Narrow"; font-size: 10pt; letter-spacing: 0px; top: 0px;display:inline;">as a percentage of net assets attributable to Common Shares. The percentages above do not reflect the Fund’s use of other forms of economic </div><div style="color: rgb(51, 51, 51); font-family: "Arial Narrow"; font-size: 10pt; letter-spacing: 0px; top: 0px;display:inline;">leverage, such as credit default swaps or other derivative instruments. The extent of the Fund’s assets attributable to leverage following an offering, </div><div style="color: rgb(51, 51, 51); font-family: "Arial Narrow"; font-size: 10pt; letter-spacing: 0px; top: 0px;display:inline;">and the Fund’s associated expenses, are likely to vary (perhaps significantly) from these assumptions.</div></div></div>
<div style="line-height:12.0pt;margin-top:6pt;text-align:left"><div style="margin-top:6pt"><div style="color: rgb(51, 51, 51); font-family: "Arial Narrow"; font-size: 10pt; letter-spacing: 0px; top: 0px;display:inline;"><div style="font-weight:bolder;display:inline;">Shareholder Transaction Expenses</div></div><div style="color: rgb(0, 0, 0); font-family: "Arial Narrow"; font-size: 1pt; letter-spacing: 0px; top: 0px;display:inline;"><div style="font-weight:bolder;display:inline;"> </div></div></div></div> <div style="margin-top:0.0pt">
<table cellpadding="0" cellspacing="0" style="text-align:start; border-bottom:0.5pt solid #00687D;empty-cells:show;width:538pt">
<tr style="height:15pt">
<td style="background-color:#FFFFFF;padding-bottom:4pt;padding-top:4pt;vertical-align:Top;width:506.81pt"><div style="line-height:7.5pt;text-align:left"><div style="margin-left:3pt;margin-right:4pt;margin-top:3pt;text-align:Left;white-space:nowrap"><div style="color: rgb(63, 63, 63); font-family: "Arial Narrow"; font-size: 7.5pt; margin-left: 0pt; letter-spacing: 0px; top: 0px;display:inline;">Sales load (as a percentage of offering price)</div></div></div></td>
<td style="background-color:#FFFFFF;padding-bottom:4pt;padding-top:4pt;vertical-align:Top;width:31.19pt"><div style="line-height:7.5pt;text-align:left"><div style="margin-left:4pt;margin-right:3pt;margin-top:3pt;text-align:Center;white-space:nowrap"><div style="letter-spacing: 0px; top: 0px;display:inline;"><div style="color: rgb(63, 63, 63); font-family: "Arial Narrow"; font-size: 7.5pt; letter-spacing: 0px; top: 0px;display:inline;">1.00%</div><div style="color: rgb(63, 63, 63); font-family: "Arial Narrow"; font-size: 4.5pt; position: relative; top: -3pt; letter-spacing: 0px;display:inline;">(1)</div></div></div></div></td></tr>
<tr style="height:13pt">
<td style="background-color:azure;padding-bottom:4pt;padding-top:4pt;vertical-align:Top;width:506.81pt"><div style="line-height:7.5pt;text-align:left"><div style="margin-left:3pt;margin-right:4pt;text-align:Left;white-space:nowrap"><div style="color: rgb(63, 63, 63); font-family: "Arial Narrow"; font-size: 7.5pt; margin-left: 0pt; letter-spacing: 0px; top: 0px;display:inline;">Offering Expenses Borne by Common Shareholders (as a percentage of offering price)</div></div></div></td>
<td style="background-color:azure;padding-bottom:4pt;padding-top:4pt;vertical-align:Top;width:31.19pt"><div style="line-height:7.5pt;text-align:left"><div style="margin-left:4pt;margin-right:3pt;text-align:Center;white-space:nowrap"><div style="color: rgb(63, 63, 63); font-family: "Arial Narrow"; font-size: 7.5pt; margin-left: 0pt; letter-spacing: 0px; top: 0px;display:inline;">0.06%</div></div></div></td></tr>
<tr style="height:9.5pt">
<td style="background-color:#FFFFFF;padding-bottom:2.5pt;padding-top:4pt;vertical-align:Top;width:506.81pt"><div style="line-height:7.5pt;text-align:left"><div style="margin-left:3pt;margin-right:4pt;text-align:Left;white-space:nowrap"><div style="color: rgb(63, 63, 63); font-family: "Arial Narrow"; font-size: 7.5pt; margin-left: 0pt; letter-spacing: 0px; top: 0px;display:inline;">Dividend Reinvestment Plan Fees</div></div></div></td>
<td style="background-color:#FFFFFF;padding-bottom:2.5pt;padding-top:4pt;vertical-align:Top;width:31.19pt"><div style="line-height:7.5pt;text-align:left"><div style="margin-left:4pt;margin-right:3pt;text-align:Center;white-space:nowrap"><div style="letter-spacing: 0px; top: 0px;display:inline;"><div style="color: rgb(63, 63, 63); font-family: "Arial Narrow"; font-size: 7.5pt; margin-left: 0pt; letter-spacing: 0px; top: 0px;display:inline;">None</div><div style="color: rgb(63, 63, 63); font-family: "Arial Narrow"; font-size: 4.5pt; position: relative; top: -3pt; letter-spacing: 0px;display:inline;">(2)</div> </div> <div style="clear:right"> </div> </div></div></td></tr></table></div> <div style="color: rgb(51, 51, 51); font-family: "Arial Narrow"; font-size: 5pt; position: relative; top: -3.25pt; letter-spacing: 0px;display:inline;">1</div><div style="color: rgb(51, 51, 51); font-family: "Arial Narrow"; font-size: 8pt; letter-spacing: 0px; top: 0px;display:inline;">Represents the maximum commission with respect to the Common Shares being sold in this offering that the Fund may pay to JonesTrading in connection with sales of Common </div><div style="color: rgb(51, 51, 51); font-family: "Arial Narrow"; font-size: 8pt; letter-spacing: 0px; top: 0px;display:inline;">Shares effected by JonesTrading in this offering. This is the only sales load to be paid in connection with this offering. There is no guarantee that there will be any sales of Common </div><div style="color: rgb(51, 51, 51); font-family: "Arial Narrow"; font-size: 8pt; letter-spacing: 0px; top: 0px;display:inline;">Shares pursuant to this Prospectus Supplement and the accompanying Prospectus.</div><div style="clear: both; position: relative; max-height: 0px;"></div><div style="color: rgb(51, 51, 51); font-family: "Arial Narrow"; font-size: 5pt; position: relative; top: -3.25pt; letter-spacing: 0px;display:inline;">2</div><div style="color: rgb(51, 51, 51); font-family: "Arial Narrow"; font-size: 8pt; letter-spacing: 0px; top: 0px;display:inline;">You will pay brokerage charges if you direct your broker or the plan agent to sell your Common Shares that you acquired pursuant to a dividend reinvestment plan. You may also pay a </div><div style="color: rgb(51, 51, 51); font-family: "Arial Narrow"; font-size: 8pt; letter-spacing: 0px; top: 0px;display:inline;">pro rata share of brokerage commissions incurred in connection with open-market purchases pursuant to the Fund’s Dividend Reinvestment Plan. See “Dividend Reinvestment Plan” in </div><div style="color: rgb(51, 51, 51); font-family: "Arial Narrow"; font-size: 8pt; letter-spacing: 0px; top: 0px;display:inline;">the accompanying Prospectus.</div><div style="clear: both; position: relative; max-height: 0px;"></div>
as a percentage of offering price
0.01
as a percentage of offering price
0.0006
0
<div style="line-height:12.0pt;margin-top:6.0pt;text-align:left"><div style="margin-top:6pt"><div style="color: rgb(51, 51, 51); font-family: "Arial Narrow"; font-size: 10pt; letter-spacing: 0px; top: 0px;display:inline;"><div style="font-weight:bolder;display:inline;">Annual Expenses</div></div><div style="color: rgb(0, 0, 0); font-family: "Arial Narrow"; font-size: 1pt; letter-spacing: 0px; top: 0px;display:inline;"><div style="font-weight:bolder;display:inline;"> </div></div></div></div> <div style="line-height:0.0pt;margin-top:3.0pt;text-align:left"><div style="margin-top:3pt"> </div></div> <div style="margin-top:0.0pt">
<table cellpadding="0" cellspacing="0" style="text-align:start; border-bottom:0.5pt solid #00687D;empty-cells:show;width:538pt">
<tr style="height:33.25pt">
<td style="background-color:#FFFFFF;border-bottom:0.5pt solid #00687D;padding-bottom:2.25pt;padding-top:2.25pt;vertical-align:Bottom;width:421.35pt"><div style="line-height:0.5pt;text-align:left"><div style="margin-left: 3pt; margin-right: 4pt; text-align: center; white-space: nowrap; font-size: 7pt;"><div style="color: rgb(0, 104, 125); font-family: "Arial Narrow"; font-size: 7pt; letter-spacing: 0px; top: 0px;display:inline;"><div style="font-weight:bolder;display:inline;"> </div></div></div></div></td>
<td style="background-color:#FFFFFF;border-bottom:0.5pt solid #00687D;padding-bottom:2.25pt;padding-top:2.25pt;vertical-align:Bottom;width:116.65pt"><div style="line-height:8.0pt;text-align:left"><div style="margin-left:4pt;margin-right:3pt;text-align:Center;white-space:nowrap"><div style="color: rgb(0, 104, 125); font-family: "Arial Narrow"; font-size: 7pt; letter-spacing: 0px; top: 0px;display:inline;"><div style="font-weight:bolder;display:inline;">Percentage of Net Assets Attributable</div></div><div style="color: rgb(0, 104, 125); font-family: "Arial Narrow"; font-size: 7pt; line-height: 7pt; letter-spacing: 0px; top: 0px;display:inline;"><div style="font-weight:bolder;display:inline;"> </div></div></div><div style="margin-left:4pt;margin-right:3pt;text-align:Center;white-space:nowrap"><div style="color: rgb(0, 104, 125); font-family: "Arial Narrow"; font-size: 7pt; letter-spacing: 0px; top: 0px;display:inline;"><div style="font-weight:bolder;display:inline;">to Common Shares (reflecting</div></div><div style="color: rgb(0, 104, 125); font-family: "Arial Narrow"; font-size: 7pt; line-height: 7pt; letter-spacing: 0px; top: 0px;display:inline;"><div style="font-weight:bolder;display:inline;"> </div></div></div><div style="margin-left:4pt;margin-right:3pt;text-align:Center;white-space:nowrap"><div style="color: rgb(0, 104, 125); font-family: "Arial Narrow"; font-size: 7pt; letter-spacing: 0px; top: 0px;display:inline;"><div style="font-weight:bolder;display:inline;">leverage attributable to reverse</div></div><div style="color: rgb(0, 104, 125); font-family: "Arial Narrow"; font-size: 7pt; line-height: 7pt; letter-spacing: 0px; top: 0px;display:inline;"><div style="font-weight:bolder;display:inline;"> </div></div></div><div style="margin-left:4pt;margin-right:3pt;text-align:Center;white-space:nowrap"><div style="color: rgb(0, 104, 125); font-family: "Arial Narrow"; font-size: 7pt; letter-spacing: 0px; top: 0px;display:inline;"><div style="font-weight:bolder;display:inline;">repurchase agreements)</div></div></div></div></td></tr>
<tr style="height:16.25pt">
<td style="background-color:azure;padding-bottom:4pt;padding-top:2.25pt;vertical-align:Top;width:421.35pt"><div style="line-height:7.5pt;text-align:left"><div style="margin-left:3pt;margin-right:4pt;margin-top:3pt;text-align:Left;white-space:nowrap"><div style="color: rgb(63, 63, 63); font-family: "Arial Narrow"; font-size: 7.5pt; margin-left: 0pt; letter-spacing: 0px; top: 0px;display:inline;">Management Fees</div><div style="color: rgb(63, 63, 63); font-family: "Arial Narrow"; font-size: 4.5pt; margin-left: 0pt; position: relative; top: -3pt; letter-spacing: 0px;display:inline;">(1)</div><div style="background-color: azure;display:inline;"> </div></div></div></td>
<td style="background-color:azure;padding-bottom:4pt;padding-top:2.25pt;vertical-align:Top;width:116.65pt"><div style="line-height:7.5pt;text-align:left"><div style="margin-left:4pt;margin-right:3pt;margin-top:3pt;text-align:Center;white-space:nowrap"><div style="color: rgb(63, 63, 63); font-family: "Arial Narrow"; font-size: 7.5pt; margin-left: 0pt; letter-spacing: 0px; top: 0px;display:inline;">0.81%</div></div></div></td></tr>
<tr style="height:13pt">
<td style="background-color:#FFFFFF;padding-bottom:4pt;padding-top:4pt;vertical-align:Top;width:421.35pt"><div style="line-height:7.5pt;text-align:left"><div style="margin-left:3pt;margin-right:4pt;text-align:Left;white-space:nowrap"><div style="color: rgb(63, 63, 63); font-family: "Arial Narrow"; font-size: 7.5pt; margin-left: 0pt; letter-spacing: 0px; top: 0px;display:inline;">Interest Payments on Borrowed Funds</div><div style="color: rgb(63, 63, 63); font-family: "Arial Narrow"; font-size: 4.5pt; margin-left: 0pt; position: relative; top: -3pt; letter-spacing: 0px;display:inline;">(2)</div><div style="background-color: rgb(255, 255, 255);display:inline;"> </div></div></div></td>
<td style="background-color:#FFFFFF;padding-bottom:4pt;padding-top:4pt;vertical-align:Top;width:116.65pt"><div style="line-height:7.5pt;text-align:left"><div style="margin-left:4pt;margin-right:3pt;text-align:Center;white-space:nowrap"><div style="color: rgb(63, 63, 63); font-family: "Arial Narrow"; font-size: 7.5pt; margin-left: 0pt; letter-spacing: 0px; top: 0px;display:inline;">0.46%</div></div></div></td></tr>
<tr style="height:13pt">
<td style="background-color:azure;padding-bottom:4pt;padding-top:4pt;vertical-align:Top;width:421.35pt"><div style="line-height:7.5pt;text-align:left"><div style="margin-left:3pt;margin-right:4pt;text-align:Left;white-space:nowrap"><div style="color: rgb(63, 63, 63); font-family: "Arial Narrow"; font-size: 7.5pt; margin-left: 0pt; letter-spacing: 0px; top: 0px;display:inline;">Other Expenses</div><div style="color: rgb(63, 63, 63); font-family: "Arial Narrow"; font-size: 4.5pt; margin-left: 0pt; position: relative; top: -3pt; letter-spacing: 0px;display:inline;">(3)</div><div style="background-color: azure;display:inline;"> </div></div></div></td>
<td style="background-color:azure;padding-bottom:4pt;padding-top:4pt;vertical-align:Top;width:116.65pt"><div style="line-height:7.5pt;text-align:left"><div style="margin-left:4pt;margin-right:3pt;text-align:Center;white-space:nowrap"><div style="color: rgb(63, 63, 63); font-family: "Arial Narrow"; font-size: 7.5pt; margin-left: 0pt; letter-spacing: 0px; top: 0px;display:inline;">0.02%</div></div></div></td></tr>
<tr style="height:9.5pt">
<td style="background-color:#FFFFFF;padding-bottom:2.5pt;padding-top:4pt;vertical-align:Top;width:421.35pt"><div style="line-height:7.5pt;text-align:left"><div style="margin-left:3pt;margin-right:4pt;text-align:Left;white-space:nowrap"><div style="color: rgb(63, 63, 63); font-family: "Arial Narrow"; font-size: 7.5pt; margin-left: 0pt; letter-spacing: 0px; top: 0px;display:inline;">Total Annual Expenses</div><div style="color: rgb(63, 63, 63); font-family: "Arial Narrow"; font-size: 4.5pt; margin-left: 0pt; position: relative; top: -3pt; letter-spacing: 0px;display:inline;">(4)</div><div style="background-color: rgb(255, 255, 255);display:inline;"> </div></div></div></td>
<td style="background-color:#FFFFFF;padding-bottom:2.5pt;padding-top:4pt;vertical-align:Top;width:116.65pt"><div style="line-height:7.5pt;text-align:left"><div style="margin-left:4pt;margin-right:3pt;text-align:Center;white-space:nowrap"><div style="color: rgb(63, 63, 63); font-family: "Arial Narrow"; font-size: 7.5pt; margin-left: 0pt; letter-spacing: 0px; top: 0px;display:inline;">1.29%</div></div></div></td></tr></table></div> <div><div style="clear:both;margin-top:2.0pt;position:relative;width:100%"><div style="float:left;line-height:7pt;text-align:left;width:2.88pt"><div style="color: rgb(51, 51, 51); font-family: "Arial Narrow"; font-size: 5pt; position: relative; top: -3.25pt; letter-spacing: 0px;display:inline;">1</div></div><div style="float:left;line-height:10.0pt;margin-left:7.12pt;text-align:left;width:523.00pt"><div style="-sec-ix-hidden:hidden166800080;display:inline;"><div style="color: rgb(51, 51, 51); font-family: "Arial Narrow"; font-size: 8pt; letter-spacing: 0px; top: 0px;display:inline;">Management Fees include fees payable to the Investment Manager for advisory services and for supervisory, administrative and other services. The Fund pays for the advisory, </div><div style="color: rgb(51, 51, 51); font-family: "Arial Narrow"; font-size: 8pt; letter-spacing: 0px; top: 0px;display:inline;">supervisory and administrative services it requires under what is essentially an all-in fee structure (the “unified management fee”). Pursuant to an investment management agreement, </div><div style="color: rgb(51, 51, 51); font-family: "Arial Narrow"; font-size: 8pt; letter-spacing: 0px; top: 0px;display:inline;">PIMCO is paid a Management Fee of 0.81% of the Fund’s average daily net assets (including daily net assets attributable to any preferred shares of the Fund that may be outstanding). </div><div style="color: rgb(51, 51, 51); font-family: "Arial Narrow"; font-size: 8pt; letter-spacing: 0px; top: 0px;display:inline;">The Fund (and not PIMCO) will be responsible for certain fees and expenses, which are reflected in the table above, that are not covered by the management fee under the investment </div></div></div></div><div style="clear: both; position: relative; max-height: 0px;"></div></div> <div style="line-height:10.0pt;margin-left:10pt;text-align:left"><div style="color: rgb(51, 51, 51); font-family: "Arial Narrow"; font-size: 8pt; letter-spacing: 0px; top: 0px;display:inline;">management agreement. Please see “Management of the Fund– Investment Management Agreement” in the accompanying Prospectus for an explanation of the unified management </div><div style="color: rgb(51, 51, 51); font-family: "Arial Narrow"; font-size: 8pt; letter-spacing: 0px; top: 0px;display:inline;">fee and definition of “daily net assets.”</div></div> <div><div style="clear:both;margin-top:2pt;position:relative;width:100%"><div style="float:left;line-height:7pt;text-align:left;width:2.88pt"><div style="color: rgb(51, 51, 51); font-family: "Arial Narrow"; font-size: 5pt; position: relative; top: -3.25pt; letter-spacing: 0px;display:inline;">2</div></div><div style="float:left;line-height:10.0pt;margin-left:7.12pt;text-align:left;width:523.00pt"><div style="color: rgb(51, 51, 51); font-family: "Arial Narrow"; font-size: 8pt; letter-spacing: 0px; top: 0px;display:inline;">Reflects the Fund’s use of leverage in the form of reverse repurchase agreements averaged over the period ended December 31, 2025, which represented 9.00% of the Fund’s average </div><div style="color: rgb(51, 51, 51); font-family: "Arial Narrow"; font-size: 8pt; letter-spacing: 0px; top: 0px;display:inline;">total managed assets, including the assets attributable to leverage (or 9.89% of the Fund’s average net assets attributable to Common Shares), as of that date, at an annual interest </div><div style="color: rgb(51, 51, 51); font-family: "Arial Narrow"; font-size: 8pt; letter-spacing: 0px; top: 0px;display:inline;">rate cost to the Fund of 4.45%, which is the weighted average interest rate cost during the period ended December 31, 2025. See “Use of Leverage—Effects of Leverage” in the </div><div style="color: rgb(51, 51, 51); font-family: "Arial Narrow"; font-size: 8pt; letter-spacing: 0px; top: 0px;display:inline;">accompanying Prospectus. The actual amount of interest expense borne by the Fund will vary over time in accordance with the level of the Fund’s use of reverse repurchase agreements, </div><div style="color: rgb(51, 51, 51); font-family: "Arial Narrow"; font-size: 8pt; letter-spacing: 0px; top: 0px;display:inline;">dollar rolls/buybacks and/or borrowings and variations in market interest rates. Borrowing expense is required to be treated as an expense of the Fund for accounting purposes. Any </div><div style="color: rgb(51, 51, 51); font-family: "Arial Narrow"; font-size: 8pt; letter-spacing: 0px; top: 0px;display:inline;">associated income or gains (or losses) realized from leverage obtained through such instruments is not reflected in the Annual Expenses table above, but would be reflected in the </div><div style="color: rgb(51, 51, 51); font-family: "Arial Narrow"; font-size: 8pt; letter-spacing: 0px; top: 0px;display:inline;">Fund’s performance results.</div></div></div><div style="clear: both; position: relative; max-height: 0px;"></div></div> <div><div style="clear:both;margin-top:2pt;position:relative;width:100%"><div style="float:left;line-height:7pt;text-align:left;width:2.88pt"><div style="color: rgb(51, 51, 51); font-family: "Arial Narrow"; font-size: 5pt; position: relative; top: -3.25pt; letter-spacing: 0px;display:inline;">3</div></div><div style="float:left;line-height:10.0pt;margin-left:7.12pt;text-align:left;width:523.00pt"><div style="color: rgb(51, 51, 51); font-family: "Arial Narrow"; font-size: 8pt; letter-spacing: 0px; top: 0px;display:inline;">“Other Expenses” are estimated for the Fund’s current fiscal year ending June 30, 2026.</div></div></div><div style="clear: both; position: relative; max-height: 0px;"></div></div> <div><div style="clear:both;margin-top:2pt;position:relative;width:100%"><div style="float:left;line-height:7pt;text-align:left;width:2.88pt"><div style="color: rgb(51, 51, 51); font-family: "Arial Narrow"; font-size: 5pt; position: relative; top: -3.25pt; letter-spacing: 0px;display:inline;">4</div></div><div style="float:left;line-height:10.0pt;margin-left:7.12pt;text-align:left;width:523.00pt"><div style="color: rgb(51, 51, 51); font-family: "Arial Narrow"; font-size: 8pt; letter-spacing: 0px; top: 0px;display:inline;">“Interest Payments on Borrowed Funds” are borne by the Fund separately from the management fees paid to PIMCO. Excluding these expenses, Total Annual Expenses are 0.83%.</div></div></div><div style="clear: both; position: relative; max-height: 0px;"></div></div>
0.0081
0.0046
0.0002
0.0129
“Other Expenses” are estimated for the Fund’s current fiscal year ending June 30, 2026.
<div style="line-height:14.0pt;margin-top:9pt;text-align:left"><div style="margin-top:9pt"><div style="color: rgb(0, 104, 125); font-family: "Arial Narrow"; font-size: 12pt; letter-spacing: 0px; top: 0px;display:inline;"><div style="font-weight:bolder;display:inline;">Example</div></div></div></div> <div style="line-height:12.0pt;margin-top:3pt;text-align:left"><div style="margin-top:3pt"><div style="color: rgb(51, 51, 51); font-family: "Arial Narrow"; font-size: 10pt; letter-spacing: 0px; top: 0px;display:inline;">The following example illustrates the expenses that you would pay on a $1,000 investment in Common Shares of the Fund (including an assumed </div><div style="color: rgb(51, 51, 51); font-family: "Arial Narrow"; font-size: 10pt; letter-spacing: 0px; top: 0px;display:inline;">total sales load or commission of 1.00% and the other estimated costs of this offering to be borne by the holders of the Common Shares of 0.06%), </div><div style="color: rgb(51, 51, 51); font-family: "Arial Narrow"; font-size: 10pt; letter-spacing: 0px; top: 0px;display:inline;">assuming (1) that the Fund’s net assets do not increase or decrease, (2) that the Fund incurs total annual expenses of 1.29% of net assets </div><div style="color: rgb(51, 51, 51); font-family: "Arial Narrow"; font-size: 10pt; letter-spacing: 0px; top: 0px;display:inline;">attributable to Common Shares in years 1 through 10 (assuming assets attributable to reverse repurchase agreements representing 9.00% of the </div><div style="color: rgb(51, 51, 51); font-family: "Arial Narrow"; font-size: 10pt; letter-spacing: 0px; top: 0px;display:inline;">Fund’s total managed assets) and (3) a 5% annual return</div><div style="color: rgb(51, 51, 51); font-family: "Arial Narrow"; font-size: 6.5pt; position: relative; top: -4.25pt; letter-spacing: 0px;display:inline;">(1)</div><div style="color: rgb(51, 51, 51); font-family: "Arial Narrow"; font-size: 10pt; letter-spacing: 0px; top: 0px;display:inline;">:</div><div style="color: rgb(0, 0, 0); font-family: "Arial Narrow"; font-size: 1pt; letter-spacing: 0px; top: 0px;display:inline;"> </div></div></div> <div style="line-height:0.0pt;margin-top:6pt;text-align:left"><div style="margin-top:6pt"> </div></div> <div style="margin-top:0.0pt">
<table cellpadding="0" cellspacing="0" style="text-align:start; border-bottom:0.5pt solid #00687D;empty-cells:show;width:538pt">
<tr style="height:12.25pt">
<td style="background-color:#FFFFFF;border-bottom:0.5pt solid #00687D;padding-bottom:2.25pt;padding-top:2.25pt;vertical-align:Bottom;width:298pt"><div style="line-height:0.5pt;text-align:left"><div style="margin-left: 3pt; margin-right: 4pt; text-align: center; white-space: nowrap; font-size: 7pt;"><div style="color: rgb(0, 104, 125); font-family: "Arial Narrow"; font-size: 7pt; letter-spacing: 0px; top: 0px;display:inline;"><div style="font-weight:bolder;display:inline;"> </div></div></div></div></td>
<td style="background-color:#FFFFFF;border-bottom:0.5pt solid #00687D;padding-bottom:2.25pt;padding-top:2.25pt;vertical-align:Bottom;width:60pt"><div style="line-height:8.0pt;text-align:left"><div style="margin-left:4pt;margin-right:4pt;text-align:Center;white-space:nowrap"><div style="color: rgb(0, 104, 125); font-family: "Arial Narrow"; font-size: 7pt; letter-spacing: 0px; top: 0px;display:inline;"><div style="font-weight:bolder;display:inline;">1 Year</div></div></div></div></td>
<td style="background-color:#FFFFFF;border-bottom:0.5pt solid #00687D;padding-bottom:2.25pt;padding-top:2.25pt;vertical-align:Bottom;width:60pt"><div style="line-height:8.0pt;text-align:left"><div style="margin-left:4pt;margin-right:4pt;text-align:Center;white-space:nowrap"><div style="color: rgb(0, 104, 125); font-family: "Arial Narrow"; font-size: 7pt; letter-spacing: 0px; top: 0px;display:inline;"><div style="font-weight:bolder;display:inline;">3 Years</div></div></div></div></td>
<td style="background-color:#FFFFFF;border-bottom:0.5pt solid #00687D;padding-bottom:2.25pt;padding-top:2.25pt;vertical-align:Bottom;width:60pt"><div style="line-height:8.0pt;text-align:left"><div style="margin-left:4pt;margin-right:4pt;text-align:Center;white-space:nowrap"><div style="color: rgb(0, 104, 125); font-family: "Arial Narrow"; font-size: 7pt; letter-spacing: 0px; top: 0px;display:inline;"><div style="font-weight:bolder;display:inline;">5 Years</div></div></div></div></td>
<td style="background-color:#FFFFFF;border-bottom:0.5pt solid #00687D;padding-bottom:2.25pt;padding-top:2.25pt;vertical-align:Bottom;width:60pt"><div style="line-height:8.0pt;text-align:left"><div style="margin-left:4pt;margin-right:3pt;text-align:Center;white-space:nowrap"><div style="color: rgb(0, 104, 125); font-family: "Arial Narrow"; font-size: 7pt; letter-spacing: 0px; top: 0px;display:inline;"><div style="font-weight:bolder;display:inline;">10 Years</div></div></div></div></td></tr>
<tr style="height:12.75pt">
<td style="background-color:azure;padding-bottom:2.5pt;padding-top:2.25pt;vertical-align:Top;width:298pt"><div style="line-height:7.5pt;text-align:left"><div style="margin-left:3pt;margin-right:4pt;margin-top:3pt;text-align:Left;white-space:nowrap"><div style="color: rgb(63, 63, 63); font-family: "Arial Narrow"; font-size: 7.5pt; margin-left: 0pt; letter-spacing: 0px; top: 0px;display:inline;">Total Expenses Incurred</div></div></div></td>
<td style="background-color:azure;padding-bottom:2.5pt;padding-top:2.25pt;vertical-align:Top;width:60pt"><div style="line-height:7.5pt;text-align:left"><div style="margin-left:4pt;margin-right:4pt;margin-top:3pt;text-align:Center;white-space:nowrap"><div style="color: rgb(63, 63, 63); font-family: "Arial Narrow"; font-size: 7.5pt; margin-left: 0pt; letter-spacing: 0px; top: 0px;display:inline;">$13</div></div></div></td>
<td style="background-color:azure;padding-bottom:2.5pt;padding-top:2.25pt;vertical-align:Top;width:60pt"><div style="line-height:7.5pt;text-align:left"><div style="margin-left:4pt;margin-right:4pt;margin-top:3pt;text-align:Center;white-space:nowrap"><div style="color: rgb(63, 63, 63); font-family: "Arial Narrow"; font-size: 7.5pt; margin-left: 0pt; letter-spacing: 0px; top: 0px;display:inline;">$41</div></div></div></td>
<td style="background-color:azure;padding-bottom:2.5pt;padding-top:2.25pt;vertical-align:Top;width:60pt"><div style="line-height:7.5pt;text-align:left"><div style="margin-left:4pt;margin-right:4pt;margin-top:3pt;text-align:Center;white-space:nowrap"><div style="color: rgb(63, 63, 63); font-family: "Arial Narrow"; font-size: 7.5pt; margin-left: 0pt; letter-spacing: 0px; top: 0px;display:inline;">$71</div></div></div></td>
<td style="background-color:azure;padding-bottom:2.5pt;padding-top:2.25pt;vertical-align:Top;width:60pt"><div style="line-height:7.5pt;text-align:left"><div style="margin-left:4pt;margin-right:3pt;margin-top:3pt;text-align:Center;white-space:nowrap"><div style="color: rgb(63, 63, 63); font-family: "Arial Narrow"; font-size: 7.5pt; margin-left: 0pt; letter-spacing: 0px; top: 0px;display:inline;">$155</div></div></div></td></tr></table></div> <div style="color: rgb(51, 51, 51); font-family: "Arial Narrow"; font-size: 5pt; position: relative; top: -3.25pt; letter-spacing: 0px;display:inline;">1</div><div style="color: rgb(51, 51, 51); font-family: "Arial Narrow"; font-size: 8pt; letter-spacing: 0px; top: 0px;display:inline;">The example above should not be considered a representation of future expenses. Actual expenses may be higher or lower than those shown. The example assumes that the estimated </div><div style="color: rgb(51, 51, 51); font-family: "Arial Narrow"; font-size: 8pt; letter-spacing: 0px; top: 0px;display:inline;">Interest Payments on Borrowed Funds and Other Expenses set forth in the Annual Expenses table are accurate, that the rate listed under Total Annual Expenses remains the same each </div><div style="color: rgb(51, 51, 51); font-family: "Arial Narrow"; font-size: 8pt; letter-spacing: 0px; top: 0px;display:inline;">year and that all dividends and distributions are reinvested at NAV. Actual expenses may be greater or less than those assumed. Moreover, the Fund’s actual rate of return may be </div><div style="color: rgb(51, 51, 51); font-family: "Arial Narrow"; font-size: 8pt; letter-spacing: 0px; top: 0px;display:inline;">greater or less than the hypothetical 5% annual return shown in the example.</div><div style="clear: both; position: relative; max-height: 0px;"></div>
13
41
71
155
<div style="line-height:14.0pt;margin-top:10pt;text-align:left"><div style="margin-top:10pt"><div style="color: rgb(0, 104, 125); font-family: "Arial Narrow"; font-size: 12pt; letter-spacing: 0px; top: 0px;display:inline;"><div style="font-weight:bolder;display:inline;">Capitalization</div></div></div></div> <div style="line-height:12.0pt;margin-top:3pt;text-align:left"><div style="margin-top:3pt"><div style="color: rgb(51, 51, 51); font-family: "Arial Narrow"; font-size: 10pt; letter-spacing: 0px; top: 0px;display:inline;">Pursuant to the Sales Agreement, the Fund may offer and sell Common Shares having an aggregate offering price of up to $350,000,000, from time </div><div style="color: rgb(51, 51, 51); font-family: "Arial Narrow"; font-size: 10pt; letter-spacing: 0px; top: 0px;display:inline;">to time through JonesTrading as its agent for the offer and sale of the Common Shares under this Prospectus Supplement and the accompanying </div><div style="color: rgb(51, 51, 51); font-family: "Arial Narrow"; font-size: 10pt; letter-spacing: 0px; top: 0px;display:inline;">Prospectus. There is no guarantee that there will be any sales of the Common Shares pursuant to this Prospectus Supplement and the accompanying </div><div style="color: rgb(51, 51, 51); font-family: "Arial Narrow"; font-size: 10pt; letter-spacing: 0px; top: 0px;display:inline;">Prospectus. The table below assumes that the Fund will sell 29,118,136 Common Shares at an assumed price of $12.02 per share (the last reported </div><div style="color: rgb(51, 51, 51); font-family: "Arial Narrow"; font-size: 10pt; letter-spacing: 0px; top: 0px;display:inline;">sale price per share of the Common Shares on the NYSE on April 30, 2026). Actual sales, if any, of the Common Shares, and the actual application of </div></div></div> <div style="line-height:12.0pt;text-align:left"><div style="color: rgb(51, 51, 51); font-family: "Arial Narrow"; font-size: 10pt; letter-spacing: 0px; top: 0px;display:inline;">the proceeds thereof, under this Prospectus Supplement and the accompanying Prospectus may be different than as set forth in the table below. In </div><div style="color: rgb(51, 51, 51); font-family: "Arial Narrow"; font-size: 10pt; letter-spacing: 0px; top: 0px;display:inline;">addition, the price per share of any such sale may be greater or less than $12.02, depending on the market price of the Common Shares at the time </div><div style="color: rgb(51, 51, 51); font-family: "Arial Narrow"; font-size: 10pt; letter-spacing: 0px; top: 0px;display:inline;">of any such sale. To the extent that the market price per share of the Common Shares on any given day is less than the NAV per share on such day, </div><div style="color: rgb(51, 51, 51); font-family: "Arial Narrow"; font-size: 10pt; letter-spacing: 0px; top: 0px;display:inline;">the Fund will instruct JonesTrading not to make any sales on such day.</div></div> <div style="line-height:12.0pt;margin-top:3pt;text-align:left"> <div style="margin-top:3pt"><div style="color: rgb(51, 51, 51); font-family: "Arial Narrow"; font-size: 10pt; letter-spacing: 0px; top: 0px;display:inline;">The following table sets forth the Fund’s capitalization at December 31, 2025:</div></div> </div> <div> <div style="clear:both;margin-top:6pt;position:relative;width:100%"> <div style="float:left;line-height:12.0pt;margin-left:12pt;text-align:left;width:5.56pt"><div style="color: rgb(30, 130, 151); font-family: "Arial Narrow"; font-size: 10pt; letter-spacing: 0px; top: 0px;display:inline;">■</div></div> <div style="float:left;line-height:12.0pt;margin-left:8.44pt;text-align:left;width:507.00pt"><div style="color: rgb(51, 51, 51); font-family: "Arial Narrow"; font-size: 10pt; letter-spacing: 0px; top: 0px;display:inline;">on a historical basis, and</div></div> </div> <div style="clear: both; position: relative; max-height: 0px;"></div> </div> <div> <div style="clear:both;position:relative;width:100%"> <div style="float:left;line-height:12.0pt;margin-left:12pt;text-align:left;width:5.56pt"><div style="color: rgb(30, 130, 151); font-family: "Arial Narrow"; font-size: 10pt; letter-spacing: 0px; top: 0px;display:inline;">■</div></div> <div style="float:left;line-height:12.0pt;margin-left:8.44pt;text-align:left;width:507.00pt"><div style="color: rgb(51, 51, 51); font-family: "Arial Narrow"; font-size: 10pt; letter-spacing: 0px; top: 0px;display:inline;">on a pro forma basis as adjusted to reflect (i) the assumed sale of 29,118,136 Common Shares at an assumed price of $12.02 per share (the </div><div style="color: rgb(51, 51, 51); font-family: "Arial Narrow"; font-size: 10pt; letter-spacing: 0px; top: 0px;display:inline;">last reported sale price per share of the Common Shares on the NYSE on April 30, 2026), in an offering under this Prospectus Supplement and </div><div style="color: rgb(51, 51, 51); font-family: "Arial Narrow"; font-size: 10pt; letter-spacing: 0px; top: 0px;display:inline;">the accompanying Prospectus; (ii) the investment of net proceeds assumed from such offering in accordance with the Fund’s investment </div><div style="color: rgb(51, 51, 51); font-family: "Arial Narrow"; font-size: 10pt; letter-spacing: 0px; top: 0px;display:inline;">objectives and policies, after deducting the assumed commission representing an estimated commission of $3,500,000 paid to JonesTrading </div><div style="color: rgb(51, 51, 51); font-family: "Arial Narrow"; font-size: 10pt; letter-spacing: 0px; top: 0px;display:inline;">of 1.00% of the gross proceeds in connection with sales of Common Shares effected by JonesTrading in this offering and estimated offering </div><div style="color: rgb(51, 51, 51); font-family: "Arial Narrow"; font-size: 10pt; letter-spacing: 0px; top: 0px;display:inline;">expenses payable by the Fund of $468,988; and (iii) investment of net proceeds received from 2,056,401 Common Shares sold between </div><div style="color: rgb(51, 51, 51); font-family: "Arial Narrow"; font-size: 10pt; letter-spacing: 0px; top: 0px;display:inline;">January 1, 2026 and April 30, 2026 in a prior “at the market” offering (the “Prior ATM”).</div><div style="color: rgb(0, 0, 0); font-family: "Arial Narrow"; font-size: 1pt; letter-spacing: 0px; top: 0px;display:inline;"> </div></div> </div> <div style="clear: both; position: relative; max-height: 0px;"></div> </div> <div style="line-height:0.0pt;margin-top:6pt;text-align:left"> <div style="margin-top:6pt"> </div> </div> <div style="margin-top:0.0pt">
<table cellpadding="0" cellspacing="0" style="text-align:start; border-bottom:0.5pt solid #00687D;empty-cells:show;width:538pt">
<tr style="height:12.25pt">
<td style="background-color:#FFFFFF;border-bottom:0.5pt solid #00687D;padding-bottom:2.25pt;padding-top:2.25pt;vertical-align:Bottom;width:456.18pt"> <div style="line-height:0.5pt;text-align:left"> <div style="margin-left: 3pt; margin-right: 4pt; text-align: center; white-space: nowrap; font-size: 7pt;"><div style="color: rgb(0, 104, 125); font-family: "Arial Narrow"; font-size: 7pt; letter-spacing: 0px; top: 0px;display:inline;"><div style="font-weight:bolder;display:inline;"> </div></div></div> </div> </td>
<td colspan="2" style="background-color:#FFFFFF;border-bottom:0.5pt solid #00687D;padding-bottom:2.25pt;padding-top:2.25pt;vertical-align:Bottom;width:81.82pt"> <div style="line-height:8.0pt;text-align:left"> <div style="margin-left:4pt;margin-right:3pt;text-align:Center;white-space:nowrap"><div style="color: rgb(0, 104, 125); font-family: "Arial Narrow"; font-size: 7pt; letter-spacing: 0px; top: 0px;display:inline;"><div style="font-weight:bolder;display:inline;">As of December 31, 2025</div></div></div> </div> </td> </tr>
<tr style="height:13.5pt">
<td style="background-color:azure;border-bottom:0.5pt solid #00687D;padding-bottom:2.25pt;padding-top:2.25pt;vertical-align:Bottom;width:456.18pt"> <div style="line-height:0.5pt;text-align:left"> <div style="margin-left: 3pt; margin-right: 4pt; text-align: center; white-space: nowrap; font-size: 7pt;"><div style="color: rgb(0, 104, 125); font-family: "Arial Narrow"; font-size: 7pt; letter-spacing: 0px; top: 0px;display:inline;"><div style="font-weight:bolder;display:inline;"> </div></div></div> </div> </td>
<td style="background-color:azure;border-bottom:0.5pt solid #00687D;padding-bottom:2.25pt;padding-top:2.25pt;vertical-align:Bottom;width:40.39pt"> <div style="line-height:8.0pt;text-align:left"> <div style="margin-left:4pt;margin-right:4pt;text-align:Center;white-space:nowrap"><div style="color: rgb(0, 104, 125); font-family: "Arial Narrow"; font-size: 7pt; letter-spacing: 0px; top: 0px;display:inline;"><div style="font-weight:bolder;display:inline;">Actual</div></div></div> </div> </td>
<td style="background-color:azure;border-bottom:0.5pt solid #00687D;padding-bottom:2.25pt;padding-top:2.25pt;vertical-align:Bottom;width:41.43pt"> <div style="line-height:8.0pt;text-align:left"> <div style="margin-left:4pt;margin-right:3pt;text-align:Center;white-space:nowrap"><div style="color: rgb(0, 104, 125); font-family: "Arial Narrow"; font-size: 7pt; letter-spacing: 0px; top: 0px;display:inline;"><div style="font-weight:bolder;display:inline;">As Adjusted</div></div></div> </div> </td> </tr>
<tr style="height:16.25pt">
<td style="background-color:#FFFFFF;padding-bottom:4pt;padding-top:2.25pt;vertical-align:Top;width:456.18pt"> <div style="line-height:7.5pt;text-align:left"> <div style="margin-left:3pt;margin-right:4pt;margin-top:3pt;text-align:Left;white-space:nowrap"><div style="color: rgb(63, 63, 63); font-family: "Arial Narrow"; font-size: 7.5pt; margin-left: 0pt; letter-spacing: 0px; top: 0px;display:inline;"><div style="font-weight:bolder;display:inline;">Composition of Net Assets (dollar amounts in thousands):</div></div></div> </div> </td>
<td style="background-color:#FFFFFF;padding-bottom:4pt;padding-top:2.25pt;vertical-align:Top;width:40.39pt"> <div style="line-height:0.5pt;text-align:left"> <div style="margin-left: 4pt; margin-right: 4pt; margin-top: 3pt; text-align: center; white-space: nowrap; font-size: 7.5pt;"><div style="color: rgb(63, 63, 63); font-family: "Arial Narrow"; font-size: 7.5pt; margin-left: -20.2pt; letter-spacing: 0px; top: 0px;display:inline;"> </div></div> </div> </td>
<td style="background-color:#FFFFFF;padding-bottom:4pt;padding-top:2.25pt;vertical-align:Top;width:41.43pt"> <div style="line-height:0.5pt;text-align:left"> <div style="margin-left: 4pt; margin-right: 3pt; margin-top: 3pt; text-align: center; white-space: nowrap; font-size: 7.5pt;"><div style="color: rgb(63, 63, 63); font-family: "Arial Narrow"; font-size: 7.5pt; margin-left: -21.21pt; letter-spacing: 0px; top: 0px;display:inline;"> </div></div> </div> </td> </tr>
<tr style="height:13pt">
<td style="background-color:azure;padding-bottom:4pt;padding-top:4pt;vertical-align:Top;width:456.18pt"> <div style="line-height:7.5pt;text-align:left"> <div style="margin-left:3pt;margin-right:4pt;text-align:Left;white-space:nowrap"><div style="color: rgb(63, 63, 63); font-family: "Arial Narrow"; font-size: 7.5pt; margin-left: 0pt; letter-spacing: 0px; top: 0px;display:inline;">Common Shares:</div></div> </div> </td>
<td style="background-color:azure;padding-bottom:4pt;padding-top:4pt;vertical-align:Top;width:40.39pt"> <div style="line-height:0.5pt;text-align:left"> <div style="margin-left: 4pt; margin-right: 4pt; text-align: center; white-space: nowrap; font-size: 7.5pt;"><div style="color: rgb(63, 63, 63); font-family: "Arial Narrow"; font-size: 7.5pt; margin-left: -20.2pt; letter-spacing: 0px; top: 0px;display:inline;"> </div></div> </div> </td>
<td style="background-color:azure;padding-bottom:4pt;padding-top:4pt;vertical-align:Top;width:41.43pt"> <div style="line-height:0.5pt;text-align:left"> <div style="margin-left: 4pt; margin-right: 3pt; text-align: center; white-space: nowrap; font-size: 7.5pt;"><div style="color: rgb(63, 63, 63); font-family: "Arial Narrow"; font-size: 7.5pt; margin-left: -21.21pt; letter-spacing: 0px; top: 0px;display:inline;"> </div></div> </div> </td> </tr>
<tr style="height:22.5pt">
<td style="background-color:#FFFFFF;padding-bottom:4pt;padding-top:4pt;vertical-align:Top;width:456.18pt"> <div style="line-height:9.5pt;text-align:left"> <div style="margin-left:3pt;margin-right:4pt;text-align:Left;white-space:nowrap"><div style="color: rgb(0, 0, 0); font-family: "Arial Narrow"; font-size: 7.5pt; margin-left: 10pt; letter-spacing: 0px; top: 0px;display:inline;">Common Shares, par value $0.00001 per share, unlimited shares authorized (72,389,056 shares outstanding as of December 31, 2025, and 103,852,993</div><div style="color: rgb(0, 0, 0); font-family: "Arial Narrow"; font-size: 4.5pt; margin-left: 0pt; position: relative; top: -3pt; letter-spacing: 0px;display:inline;">(1)</div><div style="color: rgb(0, 0, 0); font-family: "Arial Narrow"; font-size: 7.5pt; line-height: 9.5pt; margin-left: 0pt; letter-spacing: 0px; top: 0px;display:inline;"> </div></div> <div style="margin-left:3pt;margin-right:4pt;text-align:Left;white-space:nowrap"><div style="color: rgb(0, 0, 0); font-family: "Arial Narrow"; font-size: 7.5pt; margin-left: 10pt; letter-spacing: 0px; top: 0px;display:inline;">shares estimated issued and outstanding as adjusted)</div></div> </div> </td>
<td style="background-color:#FFFFFF;padding-bottom:4pt;padding-top:4pt;vertical-align:Top;width:40.39pt"> <div style="line-height:7.5pt;text-align:left"> <div style="margin-left:4pt;margin-right:4pt;text-align:Center;white-space:nowrap"><div style="color: rgb(63, 63, 63); font-family: "Arial Narrow"; font-size: 7.5pt; margin-left: 0pt; letter-spacing: 0px; top: 0px;display:inline;">$1</div></div> </div> </td>
<td style="background-color:#FFFFFF;padding-bottom:4pt;padding-top:4pt;vertical-align:Top;width:41.43pt"> <div style="line-height:7.5pt;text-align:left"> <div style="margin-left:4pt;margin-right:3pt;text-align:Center;white-space:nowrap"><div style="color: rgb(63, 63, 63); font-family: "Arial Narrow"; font-size: 7.5pt; margin-left: 0pt; letter-spacing: 0px; top: 0px;display:inline;">$1</div></div> </div> </td> </tr>
<tr style="height:13pt">
<td style="background-color:azure;padding-bottom:4pt;padding-top:4pt;vertical-align:Top;width:456.18pt"> <div style="line-height:9.5pt;text-align:left"> <div style="margin-left:3pt;margin-right:4pt;text-align:Left;white-space:nowrap"><div style="color: rgb(0, 0, 0); font-family: "Arial Narrow"; font-size: 7.5pt; margin-left: 10pt; letter-spacing: 0px; top: 0px;display:inline;">Paid-in-capital in excess of par</div></div> </div> </td>
<td style="background-color:azure;padding-bottom:4pt;padding-top:4pt;vertical-align:Top;width:40.39pt"> <div style="line-height:7.5pt;text-align:left"> <div style="margin-left:4pt;margin-right:4pt;text-align:Center;white-space:nowrap"><div style="color: rgb(63, 63, 63); font-family: "Arial Narrow"; font-size: 7.5pt; letter-spacing: 0px; top: 0px;display:inline;">$1,005,997</div></div> </div> </td>
<td style="background-color:azure;padding-bottom:4pt;padding-top:4pt;vertical-align:Top;width:41.43pt"> <div style="line-height:7.5pt;text-align:left"> <div style="margin-left:4pt;margin-right:3pt;text-align:Center;white-space:nowrap"><div style="color: rgb(63, 63, 63); font-family: "Arial Narrow"; font-size: 7.5pt; margin-left: 0pt; letter-spacing: 0px; top: 0px;display:inline;">$1,381,079</div></div> </div> </td> </tr>
<tr style="height:13pt">
<td style="background-color:#FFFFFF;padding-bottom:4pt;padding-top:4pt;vertical-align:Top;width:456.18pt"> <div style="line-height:7.5pt;text-align:left"> <div style="margin-left:3pt;margin-right:4pt;text-align:Left;white-space:nowrap"><div style="color: rgb(63, 63, 63); font-family: "Arial Narrow"; font-size: 7.5pt; margin-left: 0pt; letter-spacing: 0px; top: 0px;display:inline;">Distributable earnings (accumulated loss)</div></div> </div> </td>
<td style="background-color:#FFFFFF;padding-bottom:4pt;padding-top:4pt;vertical-align:Top;width:40.39pt"> <div style="line-height:7.5pt;text-align:left"> <div style="margin-left:4pt;margin-right:4pt;text-align:Center;white-space:nowrap"><div style="color: rgb(63, 63, 63); font-family: "Arial Narrow"; font-size: 7.5pt; margin-left: 0pt; letter-spacing: 0px; top: 0px;display:inline;">$(141,706)</div></div> </div> </td>
<td style="background-color:#FFFFFF;padding-bottom:4pt;padding-top:4pt;vertical-align:Top;width:41.43pt"> <div style="line-height:7.5pt;text-align:left"> <div style="margin-left:4pt;margin-right:3pt;text-align:Center;white-space:nowrap"><div style="color: rgb(63, 63, 63); font-family: "Arial Narrow"; font-size: 7.5pt; margin-left: 0pt; letter-spacing: 0px; top: 0px;display:inline;">$(171,109)</div></div> </div> </td> </tr>
<tr style="height:13pt">
<td style="background-color:azure;padding-bottom:4pt;padding-top:4pt;vertical-align:Top;width:456.18pt"> <div style="line-height:7.5pt;text-align:left"> <div style="margin-left:3pt;margin-right:4pt;text-align:Left;white-space:nowrap"><div style="color: rgb(63, 63, 63); font-family: "Arial Narrow"; font-size: 7.5pt; margin-left: 0pt; letter-spacing: 0px; top: 0px;display:inline;"><div style="font-weight:bolder;display:inline;">Net Assets Applicable to Holders of Common Shares</div></div></div> </div> </td>
<td style="background-color:azure;padding-bottom:4pt;padding-top:4pt;vertical-align:Top;width:40.39pt"> <div style="line-height:7.5pt;text-align:left"> <div style="margin-left:4pt;margin-right:4pt;text-align:Center;white-space:nowrap"><div style="color: rgb(63, 63, 63); font-family: "Arial Narrow"; font-size: 7.5pt; margin-left: 0pt; letter-spacing: 0px; top: 0px;display:inline;">$864,292</div></div> </div> </td>
<td style="background-color:azure;padding-bottom:4pt;padding-top:4pt;vertical-align:Top;width:41.43pt"> <div style="line-height:7.5pt;text-align:left"> <div style="margin-left:4pt;margin-right:3pt;text-align:Center;white-space:nowrap"><div style="color: rgb(63, 63, 63); font-family: "Arial Narrow"; font-size: 7.5pt; margin-left: 0pt; letter-spacing: 0px; top: 0px;display:inline;">$1,209,971</div></div> </div> </td> </tr>
<tr style="height:9.5pt">
<td style="background-color:#FFFFFF;padding-bottom:2.5pt;padding-top:4pt;vertical-align:Top;width:456.18pt"> <div style="line-height:7.5pt;text-align:left"> <div style="margin-left:3pt;margin-right:4pt;text-align:Left;white-space:nowrap"><div style="color: rgb(63, 63, 63); font-family: "Arial Narrow"; font-size: 7.5pt; margin-left: 0pt; letter-spacing: 0px; top: 0px;display:inline;"><div style="font-weight:bolder;display:inline;">Capitalization</div></div></div> </div> </td>
<td style="background-color:#FFFFFF;padding-bottom:2.5pt;padding-top:4pt;vertical-align:Top;width:40.39pt"> <div style="line-height:7.5pt;text-align:left"> <div style="margin-left:4pt;margin-right:4pt;text-align:Center;white-space:nowrap"><div style="color: rgb(63, 63, 63); font-family: "Arial Narrow"; font-size: 7.5pt; margin-left: 0pt; letter-spacing: 0px; top: 0px;display:inline;">$864,292</div></div> </div> </td>
<td style="background-color:#FFFFFF;padding-bottom:2.5pt;padding-top:4pt;vertical-align:Top;width:41.43pt"> <div style="line-height:7.5pt;text-align:left"> <div style="margin-left:4pt;margin-right:3pt;text-align:Center;white-space:nowrap"><div style="color: rgb(63, 63, 63); font-family: "Arial Narrow"; font-size: 7.5pt; margin-left: 0pt; letter-spacing: 0px; top: 0px;display:inline;">$1,209,971</div></div> </div> </td> </tr> </table> </div> <div> <div style="clear:both;margin-top:2pt;position:relative;width:100%"> <div style="float:left;line-height:7pt;text-align:left;width:5.99pt"><div style="color: rgb(51, 51, 51); font-family: "Arial Narrow"; font-size: 5pt; position: relative; top: -3.25pt; letter-spacing: 0px;display:inline;">(1)</div></div> <div style="float:left;line-height:10.0pt;margin-left:4.01pt;text-align:left;width:523.00pt"><div style="color: rgb(51, 51, 51); font-family: "Arial Narrow"; font-size: 8pt; letter-spacing: 0px; top: 0px;display:inline;">This amount (i) includes 289,400 shares issued pursuant to the Fund’s dividend reinvestment plan between January 1, 2026 and April 30, 2026 (see “Dividend Reinvestment Plan” in </div><div style="color: rgb(51, 51, 51); font-family: "Arial Narrow"; font-size: 8pt; letter-spacing: 0px; top: 0px;display:inline;">the accompanying Prospectus) and (ii) excludes Common Shares sold in the Prior ATM since April 30, 2026.</div></div> </div> <div style="clear: both; position: relative; max-height: 0px;"></div> </div>
Common Shares:
103852993
<div style="line-height:14.0pt;margin-top:10pt;text-align:left"> <div style="margin-top:10pt"><div style="color: rgb(0, 104, 125); font-family: "Arial Narrow"; font-size: 12pt; letter-spacing: 0px; top: 0px;display:inline;"><div style="font-weight:bolder;display:inline;">Market and Net Asset Value Information</div></div></div> </div> <div style="line-height:12.0pt;margin-top:3pt;text-align:left"> <div style="margin-top:3pt"><div style="color: rgb(51, 51, 51); font-family: "Arial Narrow"; font-size: 10pt; letter-spacing: 0px; top: 0px;display:inline;">The following table sets forth, for each of the periods indicated, the high and low closing market prices of the Fund’s Common Shares on the NYSE, </div><div style="color: rgb(51, 51, 51); font-family: "Arial Narrow"; font-size: 10pt; letter-spacing: 0px; top: 0px;display:inline;">the high and low NAV per Common Share and the high and low premium/discount to NAV per Common Share. See “Net Asset Value” in the </div><div style="color: rgb(51, 51, 51); font-family: "Arial Narrow"; font-size: 10pt; letter-spacing: 0px; top: 0px;display:inline;">accompanying Prospectus for information as to how the Fund’s NAV is determined.</div><div style="color: rgb(0, 0, 0); font-family: "Arial Narrow"; font-size: 1pt; letter-spacing: 0px; top: 0px;display:inline;"> </div></div> </div> <div style="line-height:0.0pt;margin-top:6pt;text-align:left"> <div style="margin-top:6pt"> </div> </div> <div style="margin-top:0.0pt">
<table cellpadding="0" cellspacing="0" style="text-align:start; border-bottom:0.4pt solid #00687D;empty-cells:show;width:538pt">
<tr style="height:19.25pt">
<td style="background-color:#FFFFFF;border-bottom:0.5pt solid #00687D;padding-bottom:2.25pt;padding-top:2.25pt;vertical-align:Bottom;width:142pt"> <div style="line-height:0.5pt;text-align:left"> <div style="margin-left: 3pt; margin-right: 4pt; text-align: left; white-space: nowrap; font-size: 7pt;"><div style="color: rgb(0, 104, 125); font-family: "Arial Narrow"; font-size: 7pt; margin-left: 0pt; letter-spacing: 0px; top: 0px;display:inline;"><div style="font-weight:bolder;display:inline;"> </div></div></div> </div> </td>
<td colspan="2" style="background-color:#FFFFFF;border-bottom:0.5pt solid #00687D;padding-bottom:2.25pt;padding-top:2.25pt;vertical-align:Bottom;width:132pt"> <div style="line-height:8.0pt;text-align:left"> <div style="margin-left:4pt;margin-right:4pt;text-align:Center;white-space:nowrap"><div style="color: rgb(0, 104, 125); font-family: "Arial Narrow"; font-size: 7pt; letter-spacing: 0px; top: 0px;display:inline;"><div style="font-weight:bolder;display:inline;">Common share</div></div><div style="color: rgb(0, 104, 125); font-family: "Arial Narrow"; font-size: 7pt; line-height: 7pt; letter-spacing: 0px; top: 0px;display:inline;"><div style="font-weight:bolder;display:inline;"> </div></div></div> <div style="margin-left:4pt;margin-right:4pt;text-align:Center;white-space:nowrap"><div style="color: rgb(0, 104, 125); font-family: "Arial Narrow"; font-size: 7pt; letter-spacing: 0px; top: 0px;display:inline;"><div style="font-weight:bolder;display:inline;">market price</div></div><div style="color: rgb(0, 104, 125); font-family: "Arial Narrow"; font-size: 4.5pt; position: relative; top: -2.75pt; letter-spacing: 0px;display:inline;"><div style="font-weight:bolder;display:inline;">(1)</div></div> <div style="clear:right"> </div> </div> </div> </td>
<td colspan="2" style="background-color:#FFFFFF;border-bottom:0.5pt solid #00687D;padding-bottom:2.25pt;padding-top:2.25pt;vertical-align:Bottom;width:132pt"> <div style="line-height:8.0pt;text-align:left"> <div style="margin-left:4pt;margin-right:4pt;text-align:Center;white-space:nowrap"><div style="color: rgb(0, 104, 125); font-family: "Arial Narrow"; font-size: 7pt; letter-spacing: 0px; top: 0px;display:inline;"><div style="font-weight:bolder;display:inline;">Common share</div></div><div style="color: rgb(0, 104, 125); font-family: "Arial Narrow"; font-size: 7pt; line-height: 7pt; letter-spacing: 0px; top: 0px;display:inline;"><div style="font-weight:bolder;display:inline;"> </div></div></div> <div style="margin-left:4pt;margin-right:4pt;text-align:Center;white-space:nowrap"><div style="color: rgb(0, 104, 125); font-family: "Arial Narrow"; font-size: 7pt; letter-spacing: 0px; top: 0px;display:inline;"><div style="font-weight:bolder;display:inline;">net asset value</div></div></div> </div> </td>
<td colspan="2" style="background-color:#FFFFFF;border-bottom:0.5pt solid #00687D;padding-bottom:2.25pt;padding-top:2.25pt;vertical-align:Bottom;width:132pt"> <div style="line-height:8.0pt;text-align:left"> <div style="margin-left:4pt;margin-right:3pt;text-align:Center;white-space:nowrap"><div style="color: rgb(0, 104, 125); font-family: "Arial Narrow"; font-size: 7pt; letter-spacing: 0px; top: 0px;display:inline;"><div style="font-weight:bolder;display:inline;">Premium (discount) as</div></div><div style="color: rgb(0, 104, 125); font-family: "Arial Narrow"; font-size: 7pt; line-height: 7pt; letter-spacing: 0px; top: 0px;display:inline;"><div style="font-weight:bolder;display:inline;"> </div></div></div> <div style="margin-left:4pt;margin-right:3pt;text-align:Center;white-space:nowrap"><div style="color: rgb(0, 104, 125); font-family: "Arial Narrow"; font-size: 7pt; letter-spacing: 0px; top: 0px;display:inline;"><div style="font-weight:bolder;display:inline;">a % of net asset value</div></div></div> </div> </td> </tr>
<tr style="height:13.5pt">
<td style="background-color:azure;border-bottom:0.5pt solid #00687D;padding-bottom:2.25pt;padding-top:2.25pt;vertical-align:Bottom;width:142pt"> <div style="line-height:8.0pt;text-align:left"> <div style="margin-left:3pt;margin-right:4pt;text-align:Left;white-space:nowrap"><div style="color: rgb(0, 104, 125); font-family: "Arial Narrow"; font-size: 7pt; margin-left: 0pt; letter-spacing: 0px; top: 0px;display:inline;"><div style="font-weight:bolder;display:inline;">Quarter</div></div></div> </div> </td>
<td style="background-color:azure;border-bottom:0.5pt solid #00687D;padding-bottom:2.25pt;padding-top:2.25pt;vertical-align:Bottom;width:66pt"> <div style="line-height:8.0pt;text-align:left"> <div style="margin-left:4pt;margin-right:4pt;text-align:Center;white-space:nowrap"><div style="color: rgb(0, 104, 125); font-family: "Arial Narrow"; font-size: 7pt; letter-spacing: 0px; top: 0px;display:inline;"><div style="font-weight:bolder;display:inline;">High</div></div></div> </div> </td>
<td style="background-color:azure;border-bottom:0.5pt solid #00687D;padding-bottom:2.25pt;padding-top:2.25pt;vertical-align:Bottom;width:66pt"> <div style="line-height:8.0pt;text-align:left"> <div style="margin-left:4pt;margin-right:4pt;text-align:Center;white-space:nowrap"><div style="color: rgb(0, 104, 125); font-family: "Arial Narrow"; font-size: 7pt; letter-spacing: 0px; top: 0px;display:inline;"><div style="font-weight:bolder;display:inline;">Low</div></div></div> </div> </td>
<td style="background-color:azure;border-bottom:0.5pt solid #00687D;padding-bottom:2.25pt;padding-top:2.25pt;vertical-align:Bottom;width:66pt"> <div style="line-height:8.0pt;text-align:left"> <div style="margin-left:4pt;margin-right:4pt;text-align:Center;white-space:nowrap"><div style="color: rgb(0, 104, 125); font-family: "Arial Narrow"; font-size: 7pt; letter-spacing: 0px; top: 0px;display:inline;"><div style="font-weight:bolder;display:inline;">High</div></div></div> </div> </td>
<td style="background-color:azure;border-bottom:0.5pt solid #00687D;padding-bottom:2.25pt;padding-top:2.25pt;vertical-align:Bottom;width:66pt"> <div style="line-height:8.0pt;text-align:left"> <div style="margin-left:4pt;margin-right:4pt;text-align:Center;white-space:nowrap"><div style="color: rgb(0, 104, 125); font-family: "Arial Narrow"; font-size: 7pt; letter-spacing: 0px; top: 0px;display:inline;"><div style="font-weight:bolder;display:inline;">Low</div></div></div> </div> </td>
<td style="background-color:azure;border-bottom:0.5pt solid #00687D;padding-bottom:2.25pt;padding-top:2.25pt;vertical-align:Bottom;width:66pt"> <div style="line-height:8.0pt;text-align:left"> <div style="margin-left:4pt;margin-right:4pt;text-align:Center;white-space:nowrap"><div style="color: rgb(0, 104, 125); font-family: "Arial Narrow"; font-size: 7pt; letter-spacing: 0px; top: 0px;display:inline;"><div style="font-weight:bolder;display:inline;">High</div></div></div> </div> </td>
<td style="background-color:azure;border-bottom:0.5pt solid #00687D;padding-bottom:2.25pt;padding-top:2.25pt;vertical-align:Bottom;width:66pt"> <div style="line-height:8.0pt;text-align:left"> <div style="margin-left:4pt;margin-right:3pt;text-align:Center;white-space:nowrap"><div style="color: rgb(0, 104, 125); font-family: "Arial Narrow"; font-size: 7pt; letter-spacing: 0px; top: 0px;display:inline;"><div style="font-weight:bolder;display:inline;">Low</div></div></div> </div> </td> </tr>
<tr style="height:16.25pt">
<td style="background-color:#FFFFFF;padding-bottom:4pt;padding-top:2.25pt;vertical-align:Top;width:142pt"> <div style="line-height:7.5pt;text-align:left"> <div style="margin-left:3pt;margin-right:4pt;margin-top:3pt;text-align:Left;white-space:nowrap"><div style="color: rgb(63, 63, 63); font-family: "Arial Narrow"; font-size: 7.5pt; margin-left: 0pt; letter-spacing: 0px; top: 0px;display:inline;">Quarter ended March 31, 2026</div></div> </div> </td>
<td style="background-color:#FFFFFF;padding-bottom:4pt;padding-top:2.25pt;vertical-align:Top;width:66pt"> <div style="line-height:7.5pt;text-align:left"> <div style="margin-left:4pt;margin-right:4pt;margin-top:3pt;text-align:Center;white-space:nowrap"><div style="color: rgb(63, 63, 63); font-family: "Arial Narrow"; font-size: 7.5pt; margin-left: 0pt; letter-spacing: 0px; top: 0px;display:inline;">$12.88</div></div> </div> </td>
<td style="background-color:#FFFFFF;padding-bottom:4pt;padding-top:2.25pt;vertical-align:Top;width:66pt"> <div style="line-height:7.5pt;text-align:left"> <div style="margin-left:4pt;margin-right:4pt;margin-top:3pt;text-align:Center;white-space:nowrap"><div style="color: rgb(63, 63, 63); font-family: "Arial Narrow"; font-size: 7.5pt; margin-left: 0pt; letter-spacing: 0px; top: 0px;display:inline;">$11.43</div></div> </div> </td>
<td style="background-color:#FFFFFF;padding-bottom:4pt;padding-top:2.25pt;vertical-align:Top;width:66pt"> <div style="line-height:7.5pt;text-align:left"> <div style="margin-left:4pt;margin-right:4pt;margin-top:3pt;text-align:Center;white-space:nowrap"><div style="color: rgb(63, 63, 63); font-family: "Arial Narrow"; font-size: 7.5pt; margin-left: 0pt; letter-spacing: 0px; top: 0px;display:inline;">$12.00</div></div> </div> </td>
<td style="background-color:#FFFFFF;padding-bottom:4pt;padding-top:2.25pt;vertical-align:Top;width:66pt"> <div style="line-height:7.5pt;text-align:left"> <div style="margin-left:4pt;margin-right:4pt;margin-top:3pt;text-align:Center;white-space:nowrap"><div style="color: rgb(63, 63, 63); font-family: "Arial Narrow"; font-size: 7.5pt; margin-left: 0pt; letter-spacing: 0px; top: 0px;display:inline;">$11.41</div></div> </div> </td>
<td style="background-color:#FFFFFF;padding-bottom:4pt;padding-top:2.25pt;vertical-align:Top;width:66pt"> <div style="line-height:7.5pt;text-align:left"> <div style="margin-left:4pt;margin-right:4pt;margin-top:3pt;text-align:Center;white-space:nowrap"><div style="color: rgb(63, 63, 63); font-family: "Arial Narrow"; font-size: 7.5pt; margin-left: 0pt; letter-spacing: 0px; top: 0px;display:inline;">8.47%</div></div> </div> </td>
<td style="background-color:#FFFFFF;padding-bottom:4pt;padding-top:2.25pt;vertical-align:Top;width:66pt"> <div style="line-height:7.5pt;text-align:left"> <div style="margin-left:4pt;margin-right:3pt;margin-top:3pt;text-align:Center;white-space:nowrap"><div style="color: rgb(63, 63, 63); font-family: "Arial Narrow"; font-size: 7.5pt; margin-left: 0pt; letter-spacing: 0px; top: 0px;display:inline;">0.18%</div></div> </div> </td> </tr>
<tr style="height:13pt">
<td style="background-color:azure;padding-bottom:4pt;padding-top:4pt;vertical-align:Top;width:142pt"> <div style="line-height:7.5pt;text-align:left"> <div style="margin-left:3pt;margin-right:4pt;text-align:Left;white-space:nowrap"><div style="color: rgb(63, 63, 63); font-family: "Arial Narrow"; font-size: 7.5pt; margin-left: 0pt; letter-spacing: 0px; top: 0px;display:inline;">Quarter ended December 31, 2025</div></div> </div> </td>
<td style="background-color:azure;padding-bottom:4pt;padding-top:4pt;vertical-align:Top;width:66pt"> <div style="line-height:7.5pt;text-align:left"> <div style="margin-left:4pt;margin-right:4pt;text-align:Center;white-space:nowrap"><div style="color: rgb(63, 63, 63); font-family: "Arial Narrow"; font-size: 7.5pt; margin-left: 0pt; letter-spacing: 0px; top: 0px;display:inline;">$13.44</div></div> </div> </td>
<td style="background-color:azure;padding-bottom:4pt;padding-top:4pt;vertical-align:Top;width:66pt"> <div style="line-height:7.5pt;text-align:left"> <div style="margin-left:4pt;margin-right:4pt;text-align:Center;white-space:nowrap"><div style="color: rgb(63, 63, 63); font-family: "Arial Narrow"; font-size: 7.5pt; margin-left: 0pt; letter-spacing: 0px; top: 0px;display:inline;">$12.34</div></div> </div> </td>
<td style="background-color:azure;padding-bottom:4pt;padding-top:4pt;vertical-align:Top;width:66pt"> <div style="line-height:7.5pt;text-align:left"> <div style="margin-left:4pt;margin-right:4pt;text-align:Center;white-space:nowrap"><div style="color: rgb(63, 63, 63); font-family: "Arial Narrow"; font-size: 7.5pt; margin-left: 0pt; letter-spacing: 0px; top: 0px;display:inline;">$12.01</div></div> </div> </td>
<td style="background-color:azure;padding-bottom:4pt;padding-top:4pt;vertical-align:Top;width:66pt"> <div style="line-height:7.5pt;text-align:left"> <div style="margin-left:4pt;margin-right:4pt;text-align:Center;white-space:nowrap"><div style="color: rgb(63, 63, 63); font-family: "Arial Narrow"; font-size: 7.5pt; margin-left: 0pt; letter-spacing: 0px; top: 0px;display:inline;">$11.81</div></div> </div> </td>
<td style="background-color:azure;padding-bottom:4pt;padding-top:4pt;vertical-align:Top;width:66pt"> <div style="line-height:7.5pt;text-align:left"> <div style="margin-left:4pt;margin-right:4pt;text-align:Center;white-space:nowrap"><div style="color: rgb(63, 63, 63); font-family: "Arial Narrow"; font-size: 7.5pt; margin-left: 0pt; letter-spacing: 0px; top: 0px;display:inline;">12.58%</div></div> </div> </td>
<td style="background-color:azure;padding-bottom:4pt;padding-top:4pt;vertical-align:Top;width:66pt"> <div style="line-height:7.5pt;text-align:left"> <div style="margin-left:4pt;margin-right:3pt;text-align:Center;white-space:nowrap"><div style="color: rgb(63, 63, 63); font-family: "Arial Narrow"; font-size: 7.5pt; margin-left: 0pt; letter-spacing: 0px; top: 0px;display:inline;">4.14%</div></div> </div> </td> </tr>
<tr style="height:13pt">
<td style="background-color:#FFFFFF;padding-bottom:4pt;padding-top:4pt;vertical-align:Top;width:142pt"> <div style="line-height:7.5pt;text-align:left"> <div style="margin-left:3pt;margin-right:4pt;text-align:Left;white-space:nowrap"><div style="color: rgb(63, 63, 63); font-family: "Arial Narrow"; font-size: 7.5pt; margin-left: 0pt; letter-spacing: 0px; top: 0px;display:inline;">Quarter ended September 30, 2025</div></div> </div> </td>
<td style="background-color:#FFFFFF;padding-bottom:4pt;padding-top:4pt;vertical-align:Top;width:66pt"> <div style="line-height:7.5pt;text-align:left"> <div style="margin-left:4pt;margin-right:4pt;text-align:Center;white-space:nowrap"><div style="color: rgb(63, 63, 63); font-family: "Arial Narrow"; font-size: 7.5pt; margin-left: 0pt; letter-spacing: 0px; top: 0px;display:inline;">$13.45</div></div> </div> </td>
<td style="background-color:#FFFFFF;padding-bottom:4pt;padding-top:4pt;vertical-align:Top;width:66pt"> <div style="line-height:7.5pt;text-align:left"> <div style="margin-left:4pt;margin-right:4pt;text-align:Center;white-space:nowrap"><div style="color: rgb(63, 63, 63); font-family: "Arial Narrow"; font-size: 7.5pt; margin-left: 0pt; letter-spacing: 0px; top: 0px;display:inline;">$12.52</div></div> </div> </td>
<td style="background-color:#FFFFFF;padding-bottom:4pt;padding-top:4pt;vertical-align:Top;width:66pt"> <div style="line-height:7.5pt;text-align:left"> <div style="margin-left:4pt;margin-right:4pt;text-align:Center;white-space:nowrap"><div style="color: rgb(63, 63, 63); font-family: "Arial Narrow"; font-size: 7.5pt; margin-left: 0pt; letter-spacing: 0px; top: 0px;display:inline;">$12.00</div></div> </div> </td>
<td style="background-color:#FFFFFF;padding-bottom:4pt;padding-top:4pt;vertical-align:Top;width:66pt"> <div style="line-height:7.5pt;text-align:left"> <div style="margin-left:4pt;margin-right:4pt;text-align:Center;white-space:nowrap"><div style="color: rgb(63, 63, 63); font-family: "Arial Narrow"; font-size: 7.5pt; margin-left: 0pt; letter-spacing: 0px; top: 0px;display:inline;">$11.68</div></div> </div> </td>
<td style="background-color:#FFFFFF;padding-bottom:4pt;padding-top:4pt;vertical-align:Top;width:66pt"> <div style="line-height:7.5pt;text-align:left"> <div style="margin-left:4pt;margin-right:4pt;text-align:Center;white-space:nowrap"><div style="color: rgb(63, 63, 63); font-family: "Arial Narrow"; font-size: 7.5pt; margin-left: 0pt; letter-spacing: 0px; top: 0px;display:inline;">12.84%</div></div> </div> </td>
<td style="background-color:#FFFFFF;padding-bottom:4pt;padding-top:4pt;vertical-align:Top;width:66pt"> <div style="line-height:7.5pt;text-align:left"> <div style="margin-left:4pt;margin-right:3pt;text-align:Center;white-space:nowrap"><div style="color: rgb(63, 63, 63); font-family: "Arial Narrow"; font-size: 7.5pt; margin-left: 0pt; letter-spacing: 0px; top: 0px;display:inline;">6.03%</div></div> </div> </td> </tr>
<tr style="height:13pt">
<td style="background-color:azure;padding-bottom:4pt;padding-top:4pt;vertical-align:Top;width:142pt"> <div style="line-height:7.5pt;text-align:left"> <div style="margin-left:3pt;margin-right:4pt;text-align:Left;white-space:nowrap"><div style="color: rgb(63, 63, 63); font-family: "Arial Narrow"; font-size: 7.5pt; margin-left: 0pt; letter-spacing: 0px; top: 0px;display:inline;">Quarter ended June 30, 2025</div></div> </div> </td>
<td style="background-color:azure;padding-bottom:4pt;padding-top:4pt;vertical-align:Top;width:66pt"> <div style="line-height:7.5pt;text-align:left"> <div style="margin-left:4pt;margin-right:4pt;text-align:Center;white-space:nowrap"><div style="color: rgb(63, 63, 63); font-family: "Arial Narrow"; font-size: 7.5pt; margin-left: 0pt; letter-spacing: 0px; top: 0px;display:inline;">$13.64</div></div> </div> </td>
<td style="background-color:azure;padding-bottom:4pt;padding-top:4pt;vertical-align:Top;width:66pt"> <div style="line-height:7.5pt;text-align:left"> <div style="margin-left:4pt;margin-right:4pt;text-align:Center;white-space:nowrap"><div style="color: rgb(63, 63, 63); font-family: "Arial Narrow"; font-size: 7.5pt; margin-left: 0pt; letter-spacing: 0px; top: 0px;display:inline;">$11.76</div></div> </div> </td>
<td style="background-color:azure;padding-bottom:4pt;padding-top:4pt;vertical-align:Top;width:66pt"> <div style="line-height:7.5pt;text-align:left"> <div style="margin-left:4pt;margin-right:4pt;text-align:Center;white-space:nowrap"><div style="color: rgb(63, 63, 63); font-family: "Arial Narrow"; font-size: 7.5pt; margin-left: 0pt; letter-spacing: 0px; top: 0px;display:inline;">$11.81</div></div> </div> </td>
<td style="background-color:azure;padding-bottom:4pt;padding-top:4pt;vertical-align:Top;width:66pt"> <div style="line-height:7.5pt;text-align:left"> <div style="margin-left:4pt;margin-right:4pt;text-align:Center;white-space:nowrap"><div style="color: rgb(63, 63, 63); font-family: "Arial Narrow"; font-size: 7.5pt; margin-left: 0pt; letter-spacing: 0px; top: 0px;display:inline;">$11.37</div></div> </div> </td>
<td style="background-color:azure;padding-bottom:4pt;padding-top:4pt;vertical-align:Top;width:66pt"> <div style="line-height:7.5pt;text-align:left"> <div style="margin-left:4pt;margin-right:4pt;text-align:Center;white-space:nowrap"><div style="color: rgb(63, 63, 63); font-family: "Arial Narrow"; font-size: 7.5pt; margin-left: 0pt; letter-spacing: 0px; top: 0px;display:inline;">15.79%</div></div> </div> </td>
<td style="background-color:azure;padding-bottom:4pt;padding-top:4pt;vertical-align:Top;width:66pt"> <div style="line-height:7.5pt;text-align:left"> <div style="margin-left:4pt;margin-right:3pt;text-align:Center;white-space:nowrap"><div style="color: rgb(63, 63, 63); font-family: "Arial Narrow"; font-size: 7.5pt; margin-left: 0pt; letter-spacing: 0px; top: 0px;display:inline;">1.91%</div></div> </div> </td> </tr>
<tr style="height:13pt">
<td style="background-color:#FFFFFF;padding-bottom:4pt;padding-top:4pt;vertical-align:Top;width:142pt"> <div style="line-height:7.5pt;text-align:left"> <div style="margin-left:3pt;margin-right:4pt;text-align:Left;white-space:nowrap"><div style="color: rgb(63, 63, 63); font-family: "Arial Narrow"; font-size: 7.5pt; margin-left: 0pt; letter-spacing: 0px; top: 0px;display:inline;">Quarter ended March 31, 2025</div></div> </div> </td>
<td style="background-color:#FFFFFF;padding-bottom:4pt;padding-top:4pt;vertical-align:Top;width:66pt"> <div style="line-height:7.5pt;text-align:left"> <div style="margin-left:4pt;margin-right:4pt;text-align:Center;white-space:nowrap"><div style="color: rgb(63, 63, 63); font-family: "Arial Narrow"; font-size: 7.5pt; margin-left: 0pt; letter-spacing: 0px; top: 0px;display:inline;">$13.81</div></div> </div> </td>
<td style="background-color:#FFFFFF;padding-bottom:4pt;padding-top:4pt;vertical-align:Top;width:66pt"> <div style="line-height:7.5pt;text-align:left"> <div style="margin-left:4pt;margin-right:4pt;text-align:Center;white-space:nowrap"><div style="color: rgb(63, 63, 63); font-family: "Arial Narrow"; font-size: 7.5pt; margin-left: 0pt; letter-spacing: 0px; top: 0px;display:inline;">$13.34</div></div> </div> </td>
<td style="background-color:#FFFFFF;padding-bottom:4pt;padding-top:4pt;vertical-align:Top;width:66pt"> <div style="line-height:7.5pt;text-align:left"> <div style="margin-left:4pt;margin-right:4pt;text-align:Center;white-space:nowrap"><div style="color: rgb(63, 63, 63); font-family: "Arial Narrow"; font-size: 7.5pt; margin-left: 0pt; letter-spacing: 0px; top: 0px;display:inline;">$11.96</div></div> </div> </td>
<td style="background-color:#FFFFFF;padding-bottom:4pt;padding-top:4pt;vertical-align:Top;width:66pt"> <div style="line-height:7.5pt;text-align:left"> <div style="margin-left:4pt;margin-right:4pt;text-align:Center;white-space:nowrap"><div style="color: rgb(63, 63, 63); font-family: "Arial Narrow"; font-size: 7.5pt; margin-left: 0pt; letter-spacing: 0px; top: 0px;display:inline;">$11.75</div></div> </div> </td>
<td style="background-color:#FFFFFF;padding-bottom:4pt;padding-top:4pt;vertical-align:Top;width:66pt"> <div style="line-height:7.5pt;text-align:left"> <div style="margin-left:4pt;margin-right:4pt;text-align:Center;white-space:nowrap"><div style="color: rgb(63, 63, 63); font-family: "Arial Narrow"; font-size: 7.5pt; margin-left: 0pt; letter-spacing: 0px; top: 0px;display:inline;">16.47%</div></div> </div> </td>
<td style="background-color:#FFFFFF;padding-bottom:4pt;padding-top:4pt;vertical-align:Top;width:66pt"> <div style="line-height:7.5pt;text-align:left"> <div style="margin-left:4pt;margin-right:3pt;text-align:Center;white-space:nowrap"><div style="color: rgb(63, 63, 63); font-family: "Arial Narrow"; font-size: 7.5pt; margin-left: 0pt; letter-spacing: 0px; top: 0px;display:inline;">12.40%</div></div> </div> </td> </tr>
<tr style="height:13pt">
<td style="background-color:azure;padding-bottom:4pt;padding-top:4pt;vertical-align:Top;width:142pt"> <div style="line-height:7.5pt;text-align:left"> <div style="margin-left:3pt;margin-right:4pt;text-align:Left;white-space:nowrap"><div style="color: rgb(63, 63, 63); font-family: "Arial Narrow"; font-size: 7.5pt; margin-left: 0pt; letter-spacing: 0px; top: 0px;display:inline;">Quarter ended December 31, 2024</div></div> </div> </td>
<td style="background-color:azure;padding-bottom:4pt;padding-top:4pt;vertical-align:Top;width:66pt"> <div style="line-height:7.5pt;text-align:left"> <div style="margin-left:4pt;margin-right:4pt;text-align:Center;white-space:nowrap"><div style="color: rgb(63, 63, 63); font-family: "Arial Narrow"; font-size: 7.5pt; margin-left: 0pt; letter-spacing: 0px; top: 0px;display:inline;">$14.30</div></div> </div> </td>
<td style="background-color:azure;padding-bottom:4pt;padding-top:4pt;vertical-align:Top;width:66pt"> <div style="line-height:7.5pt;text-align:left"> <div style="margin-left:4pt;margin-right:4pt;text-align:Center;white-space:nowrap"><div style="color: rgb(63, 63, 63); font-family: "Arial Narrow"; font-size: 7.5pt; margin-left: 0pt; letter-spacing: 0px; top: 0px;display:inline;">$13.32</div></div> </div> </td>
<td style="background-color:azure;padding-bottom:4pt;padding-top:4pt;vertical-align:Top;width:66pt"> <div style="line-height:7.5pt;text-align:left"> <div style="margin-left:4pt;margin-right:4pt;text-align:Center;white-space:nowrap"><div style="color: rgb(63, 63, 63); font-family: "Arial Narrow"; font-size: 7.5pt; margin-left: 0pt; letter-spacing: 0px; top: 0px;display:inline;">$11.98</div></div> </div> </td>
<td style="background-color:azure;padding-bottom:4pt;padding-top:4pt;vertical-align:Top;width:66pt"> <div style="line-height:7.5pt;text-align:left"> <div style="margin-left:4pt;margin-right:4pt;text-align:Center;white-space:nowrap"><div style="color: rgb(63, 63, 63); font-family: "Arial Narrow"; font-size: 7.5pt; margin-left: 0pt; letter-spacing: 0px; top: 0px;display:inline;">$11.81</div></div> </div> </td>
<td style="background-color:azure;padding-bottom:4pt;padding-top:4pt;vertical-align:Top;width:66pt"> <div style="line-height:7.5pt;text-align:left"> <div style="margin-left:4pt;margin-right:4pt;text-align:Center;white-space:nowrap"><div style="color: rgb(63, 63, 63); font-family: "Arial Narrow"; font-size: 7.5pt; margin-left: 0pt; letter-spacing: 0px; top: 0px;display:inline;">19.57%</div></div> </div> </td>
<td style="background-color:azure;padding-bottom:4pt;padding-top:4pt;vertical-align:Top;width:66pt"> <div style="line-height:7.5pt;text-align:left"> <div style="margin-left:4pt;margin-right:3pt;text-align:Center;white-space:nowrap"><div style="color: rgb(63, 63, 63); font-family: "Arial Narrow"; font-size: 7.5pt; margin-left: 0pt; letter-spacing: 0px; top: 0px;display:inline;">12.60%</div></div> </div> </td> </tr>
<tr style="height:13pt">
<td style="background-color:#FFFFFF;padding-bottom:4pt;padding-top:4pt;vertical-align:Top;width:142pt"> <div style="line-height:7.5pt;text-align:left"> <div style="margin-left:3pt;margin-right:4pt;text-align:Left;white-space:nowrap"><div style="color: rgb(63, 63, 63); font-family: "Arial Narrow"; font-size: 7.5pt; margin-left: 0pt; letter-spacing: 0px; top: 0px;display:inline;">Quarter ended September 30, 2024</div></div> </div> </td>
<td style="background-color:#FFFFFF;padding-bottom:4pt;padding-top:4pt;vertical-align:Top;width:66pt"> <div style="line-height:7.5pt;text-align:left"> <div style="margin-left:4pt;margin-right:4pt;text-align:Center;white-space:nowrap"><div style="color: rgb(63, 63, 63); font-family: "Arial Narrow"; font-size: 7.5pt; margin-left: 0pt; letter-spacing: 0px; top: 0px;display:inline;">$14.19</div></div> </div> </td>
<td style="background-color:#FFFFFF;padding-bottom:4pt;padding-top:4pt;vertical-align:Top;width:66pt"> <div style="line-height:7.5pt;text-align:left"> <div style="margin-left:4pt;margin-right:4pt;text-align:Center;white-space:nowrap"><div style="color: rgb(63, 63, 63); font-family: "Arial Narrow"; font-size: 7.5pt; margin-left: 0pt; letter-spacing: 0px; top: 0px;display:inline;">$13.08</div></div> </div> </td>
<td style="background-color:#FFFFFF;padding-bottom:4pt;padding-top:4pt;vertical-align:Top;width:66pt"> <div style="line-height:7.5pt;text-align:left"> <div style="margin-left:4pt;margin-right:4pt;text-align:Center;white-space:nowrap"><div style="color: rgb(63, 63, 63); font-family: "Arial Narrow"; font-size: 7.5pt; margin-left: 0pt; letter-spacing: 0px; top: 0px;display:inline;">$11.97</div></div> </div> </td>
<td style="background-color:#FFFFFF;padding-bottom:4pt;padding-top:4pt;vertical-align:Top;width:66pt"> <div style="line-height:7.5pt;text-align:left"> <div style="margin-left:4pt;margin-right:4pt;text-align:Center;white-space:nowrap"><div style="color: rgb(63, 63, 63); font-family: "Arial Narrow"; font-size: 7.5pt; margin-left: 0pt; letter-spacing: 0px; top: 0px;display:inline;">$11.38</div></div> </div> </td>
<td style="background-color:#FFFFFF;padding-bottom:4pt;padding-top:4pt;vertical-align:Top;width:66pt"> <div style="line-height:7.5pt;text-align:left"> <div style="margin-left:4pt;margin-right:4pt;text-align:Center;white-space:nowrap"><div style="color: rgb(63, 63, 63); font-family: "Arial Narrow"; font-size: 7.5pt; margin-left: 0pt; letter-spacing: 0px; top: 0px;display:inline;">20.02%</div></div> </div> </td>
<td style="background-color:#FFFFFF;padding-bottom:4pt;padding-top:4pt;vertical-align:Top;width:66pt"> <div style="line-height:7.5pt;text-align:left"> <div style="margin-left:4pt;margin-right:3pt;text-align:Center;white-space:nowrap"><div style="color: rgb(63, 63, 63); font-family: "Arial Narrow"; font-size: 7.5pt; margin-left: 0pt; letter-spacing: 0px; top: 0px;display:inline;">12.85%</div></div> </div> </td> </tr>
<tr style="height:13pt">
<td style="background-color:azure;padding-bottom:4pt;padding-top:4pt;vertical-align:Top;width:142pt"> <div style="line-height:7.5pt;text-align:left"> <div style="margin-left:3pt;margin-right:4pt;text-align:Left;white-space:nowrap"><div style="color: rgb(63, 63, 63); font-family: "Arial Narrow"; font-size: 7.5pt; margin-left: 0pt; letter-spacing: 0px; top: 0px;display:inline;">Quarter ended June 30, 2024</div></div> </div> </td>
<td style="background-color:azure;padding-bottom:4pt;padding-top:4pt;vertical-align:Top;width:66pt"> <div style="line-height:7.5pt;text-align:left"> <div style="margin-left:4pt;margin-right:4pt;text-align:Center;white-space:nowrap"><div style="color: rgb(63, 63, 63); font-family: "Arial Narrow"; font-size: 7.5pt; margin-left: 0pt; letter-spacing: 0px; top: 0px;display:inline;">$14.21</div><div style="color: rgb(63, 63, 63); font-family: "Arial Narrow"; font-size: 7.5pt; line-height: 7.5pt; letter-spacing: 0px; top: 0px;display:inline;"> </div></div> </div> </td>
<td style="background-color:azure;padding-bottom:4pt;padding-top:4pt;vertical-align:Top;width:66pt"> <div style="line-height:7.5pt;text-align:left"> <div style="margin-left:4pt;margin-right:4pt;text-align:Center;white-space:nowrap"><div style="color: rgb(63, 63, 63); font-family: "Arial Narrow"; font-size: 7.5pt; margin-left: 0pt; letter-spacing: 0px; top: 0px;display:inline;">$12.46</div></div> </div> </td>
<td style="background-color:azure;padding-bottom:4pt;padding-top:4pt;vertical-align:Top;width:66pt"> <div style="line-height:7.5pt;text-align:left"> <div style="margin-left:4pt;margin-right:4pt;text-align:Center;white-space:nowrap"><div style="color: rgb(63, 63, 63); font-family: "Arial Narrow"; font-size: 7.5pt; margin-left: 0pt; letter-spacing: 0px; top: 0px;display:inline;">$11.66</div></div> </div> </td>
<td style="background-color:azure;padding-bottom:4pt;padding-top:4pt;vertical-align:Top;width:66pt"> <div style="line-height:7.5pt;text-align:left"> <div style="margin-left:4pt;margin-right:4pt;text-align:Center;white-space:nowrap"><div style="color: rgb(63, 63, 63); font-family: "Arial Narrow"; font-size: 7.5pt; margin-left: 0pt; letter-spacing: 0px; top: 0px;display:inline;">$11.35</div><div style="color: rgb(63, 63, 63); font-family: "Arial Narrow"; font-size: 7.5pt; line-height: 7.5pt; letter-spacing: 0px; top: 0px;display:inline;"> </div></div> </div> </td>
<td style="background-color:azure;padding-bottom:4pt;padding-top:4pt;vertical-align:Top;width:66pt"> <div style="line-height:7.5pt;text-align:left"> <div style="margin-left:4pt;margin-right:4pt;text-align:Center;white-space:nowrap"><div style="color: rgb(63, 63, 63); font-family: "Arial Narrow"; font-size: 7.5pt; margin-left: 0pt; letter-spacing: 0px; top: 0px;display:inline;">22.08%</div></div> </div> </td>
<td style="background-color:azure;padding-bottom:4pt;padding-top:4pt;vertical-align:Top;width:66pt"> <div style="line-height:7.5pt;text-align:left"> <div style="margin-left:4pt;margin-right:3pt;text-align:Center;white-space:nowrap"><div style="color: rgb(63, 63, 63); font-family: "Arial Narrow"; font-size: 7.5pt; margin-left: 0pt; letter-spacing: 0px; top: 0px;display:inline;">8.82%</div></div> </div> </td> </tr>
<tr style="height:13pt">
<td style="background-color:#FFFFFF;padding-bottom:4pt;padding-top:4pt;vertical-align:Top;width:142pt"> <div style="line-height:7.5pt;text-align:left"> <div style="margin-left:3pt;margin-right:4pt;text-align:Left;white-space:nowrap"><div style="color: rgb(63, 63, 63); font-family: "Arial Narrow"; font-size: 7.5pt; margin-left: 0pt; letter-spacing: 0px; top: 0px;display:inline;">Quarter ended March 31, 2024</div></div> </div> </td>
<td style="background-color:#FFFFFF;padding-bottom:4pt;padding-top:4pt;vertical-align:Top;width:66pt"> <div style="line-height:7.5pt;text-align:left"> <div style="margin-left:4pt;margin-right:4pt;text-align:Center;white-space:nowrap"><div style="color: rgb(63, 63, 63); font-family: "Arial Narrow"; font-size: 7.5pt; margin-left: 0pt; letter-spacing: 0px; top: 0px;display:inline;">$13.97</div><div style="color: rgb(63, 63, 63); font-family: "Arial Narrow"; font-size: 7.5pt; line-height: 7.5pt; letter-spacing: 0px; top: 0px;display:inline;"> </div></div> </div> </td>
<td style="background-color:#FFFFFF;padding-bottom:4pt;padding-top:4pt;vertical-align:Top;width:66pt"> <div style="line-height:7.5pt;text-align:left"> <div style="margin-left:4pt;margin-right:4pt;text-align:Center;white-space:nowrap"><div style="color: rgb(63, 63, 63); font-family: "Arial Narrow"; font-size: 7.5pt; margin-left: 0pt; letter-spacing: 0px; top: 0px;display:inline;">$12.37</div></div> </div> </td>
<td style="background-color:#FFFFFF;padding-bottom:4pt;padding-top:4pt;vertical-align:Top;width:66pt"> <div style="line-height:7.5pt;text-align:left"> <div style="margin-left:4pt;margin-right:4pt;text-align:Center;white-space:nowrap"><div style="color: rgb(63, 63, 63); font-family: "Arial Narrow"; font-size: 7.5pt; margin-left: 0pt; letter-spacing: 0px; top: 0px;display:inline;">$11.68</div></div> </div> </td>
<td style="background-color:#FFFFFF;padding-bottom:4pt;padding-top:4pt;vertical-align:Top;width:66pt"> <div style="line-height:7.5pt;text-align:left"> <div style="margin-left:4pt;margin-right:4pt;text-align:Center;white-space:nowrap"><div style="color: rgb(63, 63, 63); font-family: "Arial Narrow"; font-size: 7.5pt; margin-left: 0pt; letter-spacing: 0px; top: 0px;display:inline;">$11.41</div></div> </div> </td>
<td style="background-color:#FFFFFF;padding-bottom:4pt;padding-top:4pt;vertical-align:Top;width:66pt"> <div style="line-height:7.5pt;text-align:left"> <div style="margin-left:4pt;margin-right:4pt;text-align:Center;white-space:nowrap"><div style="color: rgb(63, 63, 63); font-family: "Arial Narrow"; font-size: 7.5pt; margin-left: 0pt; letter-spacing: 0px; top: 0px;display:inline;">19.81%</div></div> </div> </td>
<td style="background-color:#FFFFFF;padding-bottom:4pt;padding-top:4pt;vertical-align:Top;width:66pt"> <div style="line-height:7.5pt;text-align:left"> <div style="margin-left:4pt;margin-right:3pt;text-align:Center;white-space:nowrap"><div style="color: rgb(63, 63, 63); font-family: "Arial Narrow"; font-size: 7.5pt; margin-left: 0pt; letter-spacing: 0px; top: 0px;display:inline;">7.19%</div></div> </div> </td> </tr>
<tr style="height:13pt">
<td style="background-color:azure;padding-bottom:4pt;padding-top:4pt;vertical-align:Top;width:142pt"> <div style="line-height:7.5pt;text-align:left"> <div style="margin-left:3pt;margin-right:4pt;text-align:Left;white-space:nowrap"><div style="color: rgb(63, 63, 63); font-family: "Arial Narrow"; font-size: 7.5pt; margin-left: 0pt; letter-spacing: 0px; top: 0px;display:inline;">Quarter ended December 31, 2023</div></div> </div> </td>
<td style="background-color:azure;padding-bottom:4pt;padding-top:4pt;vertical-align:Top;width:66pt"> <div style="line-height:7.5pt;text-align:left"> <div style="margin-left:4pt;margin-right:4pt;text-align:Center;white-space:nowrap"><div style="color: rgb(63, 63, 63); font-family: "Arial Narrow"; font-size: 7.5pt; margin-left: 0pt; letter-spacing: 0px; top: 0px;display:inline;">$12.66</div></div> </div> </td>
<td style="background-color:azure;padding-bottom:4pt;padding-top:4pt;vertical-align:Top;width:66pt"> <div style="line-height:7.5pt;text-align:left"> <div style="margin-left:4pt;margin-right:4pt;text-align:Center;white-space:nowrap"><div style="color: rgb(63, 63, 63); font-family: "Arial Narrow"; font-size: 7.5pt; margin-left: 0pt; letter-spacing: 0px; top: 0px;display:inline;">$10.75</div></div> </div> </td>
<td style="background-color:azure;padding-bottom:4pt;padding-top:4pt;vertical-align:Top;width:66pt"> <div style="line-height:7.5pt;text-align:left"> <div style="margin-left:4pt;margin-right:4pt;text-align:Center;white-space:nowrap"><div style="color: rgb(63, 63, 63); font-family: "Arial Narrow"; font-size: 7.5pt; margin-left: 0pt; letter-spacing: 0px; top: 0px;display:inline;">$11.58</div></div> </div> </td>
<td style="background-color:azure;padding-bottom:4pt;padding-top:4pt;vertical-align:Top;width:66pt"> <div style="line-height:7.5pt;text-align:left"> <div style="margin-left:4pt;margin-right:4pt;text-align:Center;white-space:nowrap"><div style="color: rgb(63, 63, 63); font-family: "Arial Narrow"; font-size: 7.5pt; margin-left: 0pt; letter-spacing: 0px; top: 0px;display:inline;">$10.58</div></div> </div> </td>
<td style="background-color:azure;padding-bottom:4pt;padding-top:4pt;vertical-align:Top;width:66pt"> <div style="line-height:7.5pt;text-align:left"> <div style="margin-left:4pt;margin-right:4pt;text-align:Center;white-space:nowrap"><div style="color: rgb(63, 63, 63); font-family: "Arial Narrow"; font-size: 7.5pt; margin-left: 0pt; letter-spacing: 0px; top: 0px;display:inline;">14.93%</div></div> </div> </td>
<td style="background-color:azure;padding-bottom:4pt;padding-top:4pt;vertical-align:Top;width:66pt"> <div style="line-height:7.5pt;text-align:left"> <div style="margin-left:4pt;margin-right:3pt;text-align:Center;white-space:nowrap"><div style="color: rgb(63, 63, 63); font-family: "Arial Narrow"; font-size: 7.5pt; margin-left: 0pt; letter-spacing: 0px; top: 0px;display:inline;">1.32%</div></div> </div> </td> </tr>
<tr style="height:9.4pt">
<td style="background-color:#FFFFFF;padding-bottom:2.5pt;padding-top:4pt;vertical-align:Top;width:142pt"> <div style="line-height:7.5pt;text-align:left"> <div style="margin-left:3pt;margin-right:4pt;text-align:Left;white-space:nowrap"><div style="color: rgb(63, 63, 63); font-family: "Arial Narrow"; font-size: 7.5pt; margin-left: 0pt; letter-spacing: 0px; top: 0px;display:inline;">Quarter ended September 30, 2023</div></div> </div> </td>
<td style="background-color:#FFFFFF;padding-bottom:2.5pt;padding-top:4pt;vertical-align:Top;width:66pt"> <div style="line-height:7.5pt;text-align:left"> <div style="margin-left:4pt;margin-right:4pt;text-align:Center;white-space:nowrap"><div style="color: rgb(63, 63, 63); font-family: "Arial Narrow"; font-size: 7.5pt; margin-left: 0pt; letter-spacing: 0px; top: 0px;display:inline;">$14.24</div></div> </div> </td>
<td style="background-color:#FFFFFF;padding-bottom:2.5pt;padding-top:4pt;vertical-align:Top;width:66pt"> <div style="line-height:7.5pt;text-align:left"> <div style="margin-left:4pt;margin-right:4pt;text-align:Center;white-space:nowrap"><div style="color: rgb(63, 63, 63); font-family: "Arial Narrow"; font-size: 7.5pt; margin-left: 0pt; letter-spacing: 0px; top: 0px;display:inline;">$12.17</div></div> </div> </td>
<td style="background-color:#FFFFFF;padding-bottom:2.5pt;padding-top:4pt;vertical-align:Top;width:66pt"> <div style="line-height:7.5pt;text-align:left"> <div style="margin-left:4pt;margin-right:4pt;text-align:Center;white-space:nowrap"><div style="color: rgb(63, 63, 63); font-family: "Arial Narrow"; font-size: 7.5pt; margin-left: 0pt; letter-spacing: 0px; top: 0px;display:inline;">$11.15</div></div> </div> </td>
<td style="background-color:#FFFFFF;padding-bottom:2.5pt;padding-top:4pt;vertical-align:Top;width:66pt"> <div style="line-height:7.5pt;text-align:left"> <div style="margin-left:4pt;margin-right:4pt;text-align:Center;white-space:nowrap"><div style="color: rgb(63, 63, 63); font-family: "Arial Narrow"; font-size: 7.5pt; margin-left: 0pt; letter-spacing: 0px; top: 0px;display:inline;">$10.83</div></div> </div> </td>
<td style="background-color:#FFFFFF;padding-bottom:2.5pt;padding-top:4pt;vertical-align:Top;width:66pt"> <div style="line-height:7.5pt;text-align:left"> <div style="margin-left:4pt;margin-right:4pt;text-align:Center;white-space:nowrap"><div style="color: rgb(63, 63, 63); font-family: "Arial Narrow"; font-size: 7.5pt; margin-left: 0pt; letter-spacing: 0px; top: 0px;display:inline;">29.00%</div></div> </div> </td>
<td style="background-color:#FFFFFF;padding-bottom:2.5pt;padding-top:4pt;vertical-align:Top;width:66pt"> <div style="line-height:7.5pt;text-align:left"> <div style="margin-left:4pt;margin-right:3pt;text-align:Center;white-space:nowrap"><div style="color: rgb(63, 63, 63); font-family: "Arial Narrow"; font-size: 7.5pt; margin-left: 0pt; letter-spacing: 0px; top: 0px;display:inline;">11.55%</div></div> </div> </td> </tr> </table> </div> <div style="color: rgb(51, 51, 51); font-family: "Arial Narrow"; font-size: 5pt; position: relative; top: -3.25pt; letter-spacing: 0px;display:inline;">1</div><div style="color: rgb(51, 51, 51); font-family: "Arial Narrow"; font-size: 8pt; letter-spacing: 0px; top: 0px;display:inline;">Such prices reflect inter-dealer prices, without retail mark-up, mark-down or commission and may not represent actual transactions.</div><div style="clear: both; position: relative; max-height: 0px;"></div><div style="line-height:12.0pt;margin-top:3.0pt;text-align:left"> <div style="margin-top:3pt"><div style="color: rgb(51, 51, 51); font-family: "Arial Narrow"; font-size: 10pt; letter-spacing: 0px; top: 0px;display:inline;">The Fund's NAV per Common Share at the close of business on April 30, 2026 was $11.56 and the last reported sale price of a Common Share on the </div><div style="color: rgb(51, 51, 51); font-family: "Arial Narrow"; font-size: 10pt; letter-spacing: 0px; top: 0px;display:inline;">NYSE on that day was $12.02, representing a 3.98% premium to such NAV. As of April 30, 2026, the net assets of the Fund attributable to Common </div><div style="color: rgb(51, 51, 51); font-family: "Arial Narrow"; font-size: 10pt; letter-spacing: 0px; top: 0px;display:inline;">Shares were $863,423,039 and the Fund had outstanding 74,721,061 Common Shares.</div></div> </div>
12.88
11.43
12
11.41
0.0847
0.0018
13.44
12.34
12.01
11.81
0.1258
0.0414
13.45
12.52
12
11.68
0.1284
0.0603
13.64
11.76
11.81
11.37
0.1579
0.0191
13.81
13.34
11.96
11.75
0.1647
0.124
14.3
13.32
11.98
11.81
0.1957
0.126
14.19
13.08
11.97
11.38
0.2002
0.1285
14.21
12.46
11.66
11.35
0.2208
0.0882
13.97
12.37
11.68
11.41
0.1981
0.0719
12.66
10.75
11.58
10.58
0.1493
0.0132
14.24
12.17
11.15
10.83
0.29
0.1155
Such prices reflect inter-dealer prices, without retail mark-up, mark-down or commission and may not represent actual transactions.
11.56
12.02
0.0398
74721061
Represents the maximum commission with respect to the Common Shares being sold in this offering that the Fund may pay to JonesTrading in connection with sales of Common Shares effected by JonesTrading in this offering. This is the only sales load to be paid in connection with this offering. There is no guarantee that there will be any sales of Common Shares pursuant to this Prospectus Supplement and the accompanying Prospectus.
You will pay brokerage charges if you direct your broker or the plan agent to sell your Common Shares that you acquired pursuant to a dividend reinvestment plan. You may also pay a pro rata share of brokerage commissions incurred in connection with open-market purchases pursuant to the Fund’s Dividend Reinvestment Plan. See “Dividend Reinvestment Plan” in the accompanying Prospectus.
Management Fees include fees payable to the Investment Manager for advisory services and for supervisory, administrative and other services. The Fund pays for the advisory, supervisory and administrative services it requires under what is essentially an all-in fee structure (the “unified management fee”). Pursuant to an investment management agreement, PIMCO is paid a Management Fee of 0.81% of the Fund’s average daily net assets (including daily net assets attributable to any preferred shares of the Fund that may be outstanding). The Fund (and not PIMCO) will be responsible for certain fees and expenses, which are reflected in the table above, that are not covered by the management fee under the investment management agreement. Please see “Management of the Fund– Investment Management Agreement” in the accompanying Prospectus for an explanation of the unified management fee and definition of “daily net assets.”
Reflects the Fund’s use of leverage in the form of reverse repurchase agreements averaged over the period ended December 31, 2025, which represented 9.00% of the Fund’s average total managed assets, including the assets attributable to leverage (or 9.89% of the Fund’s average net assets attributable to Common Shares), as of that date, at an annual interest rate cost to the Fund of 4.45%, which is the weighted average interest rate cost during the period ended December 31, 2025. See “Use of Leverage—Effects of Leverage” in the accompanying Prospectus. The actual amount of interest expense borne by the Fund will vary over time in accordance with the level of the Fund’s use of reverse repurchase agreements, dollar rolls/buybacks and/or borrowings and variations in market interest rates. Borrowing expense is required to be treated as an expense of the Fund for accounting purposes. Any associated income or gains (or losses) realized from leverage obtained through such instruments is not reflected in the Annual Expenses table above, but would be reflected in the Fund’s performance results.
The example above should not be considered a representation of future expenses. Actual expenses may be higher or lower than those shown. The example assumes that the estimated Interest Payments on Borrowed Funds and Other Expenses set forth in the Annual Expenses table are accurate, that the rate listed under Total Annual Expenses remains the same each year and that all dividends and distributions are reinvested at NAV. Actual expenses may be greater or less than those assumed. Moreover, the Fund’s actual rate of return may be greater or less than the hypothetical 5% annual return shown in the example.
“Other Expenses” are estimated for the Fund’s current fiscal year ending June 30, 2026.
“Interest Payments on Borrowed Funds” are borne by the Fund separately from the management fees paid to PIMCO. Excluding these expenses, Total Annual Expenses are 0.83%.
Such prices reflect inter-dealer prices, without retail mark-up, mark-down or commission and may not represent actual transactions.
This amount (i) includes 289,400 shares issued pursuant to the Fund’s dividend reinvestment plan between January 1, 2026 and April 30, 2026 (see “Dividend Reinvestment Plan” in the accompanying Prospectus) and (ii) excludes Common Shares sold in the Prior ATM since April 30, 2026.