Preferred Capital Securities

Priority Income Fund Offering Overview

PRIORITY INCOME FUND


Offering Summary

The Offering

Close-end fund, 18-month follow-on offering

LIQUIDITY

Quarterly tender offers

3 SHARE OPTIONS

Class R: 6% selling commission, 0.75% dealer manager fee (6.75% load, no trail)

Class RIA: 0% selling commission, 0.75% dealer manager fee (6.75% load, no trail)

Class R: I% selling commission, 0% dealer manager fee (no load, no trail)

INVESMENT STRATEGY

CLO equity and debt

HISTORICAL DISTRIBUTION YIELD ON OFFERING PRICE

10% (8% annualized base distributions paid monthly and 2% annualized bonus yield paid quarterly) Net Investment Income coverage on distribution: ~105% as of 6/30/20

INVESTMENT ADVISER

Priority Senior Secured Income Management LLC

TRANSFER AGENT

DST Systems Inc.

CUSTODIAN

U.S. Bank National Association

AUDITOR

BDO USA, LLP

ADMINISTRATOR

Prospect Administration

DUE DILIGENCE REPORT

Bowman and FactRight

MINIMUM INVESTMENT

$1,000


PRIORITY INCOME FUND


Offering Summary

The Offering

Close-end fund, 18-month follow-on offering

LIQUIDITY

Quarterly tender offers

3 SHARE OPTIONS

Class R: 6% selling commission, 0.75% dealer manager fee (6.75% load, no trail)

Class RIA: 0% selling commission, 0.75% dealer manager fee (6.75% load, no trail)

Class R: I% selling commission, 0% dealer manager fee (no load, no trail)

INVESMENT STRATEGY

CLO equity and debt

HISTORICAL DISTRIBUTION YIELD ON OFFERING PRICE

10% (8% annualized base distributions paid monthly and 2% annualized bonus yield paid quarterly) Net Investment Income coverage on distribution: ~105% as of 6/30/20

INVESTMENT ADVISER

Priority Senior Secured Income Management LLC

TRANSFER AGENT

DST Systems Inc.

CUSTODIAN

U.S. Bank National Association

AUDITOR

BDO USA, LLP

ADMINISTRATOR

Prospect Administration

DUE DILIGENCE REPORT

Bowman and FactRight

MINIMUM INVESTMENT

$1,000