NEW YORK, November 22, 2024 /GlobeNewswire/ --PriorityIncome Fund, Inc. (“Priority Income Fund” or the “Fund”) announced today that itwill redeem all outstanding shares of its 6.250% Series G Term Preferred StockDue 2026 (CUSIP: 74274W 814; NYSE: PRIF PRG) (the “Series G Preferred Shares”) ata price of $25 per Series G Preferred Share, plus accrued but unpaid dividendsper Series G Preferred Share from September 30, 2024, to but excluding, theRedemption Date (the “Redemption Price”). The redemption date will be December23, 2024 (the “Redemption Date”).

On the Redemption Date, the Redemption Price will becomedue and payable on the Series G Preferred Shares and any dividends shall ceaseto accumulate on the Series G Preferred Shares that are redeemed from and aftersuch date. Unless the Fund defaults in the payment of the Redemption Price,dividends on the Series G Preferred Shares that are redeemed will cease toaccumulate on and after the Redemption Date, and the only remaining right ofthe holders of the Series G Preferred Shares that are redeemed is to receivepayment of the Redemption Price.  

The Series G Preferred Shares are held through TheDepository Trust Company and will be redeemed in accordance with the applicableprocedures.

This press release does not constitute a notice ofredemption under the articles supplementary governing the shares.

Following redemption of the Series G Preferred Shares, theFund will have outstanding shares of 7.00% Series D Term Preferred Stock due2029 (NYSE: PRIF PRD), 6.625% Series F Term Preferred Stock due 2027 (NYSE:PRIF PRF), 6.000% Series H Term Preferred Stock due 2026 (NYSE: PRIF PRH), 6.125%Series I Term Preferred Stock due 2028 (NYSE: PRIF PRI), 6.000% Series J TermPreferred Stock due 2028 (NYSE: PRIF PRJ), 7.000% Series K Cumulative PreferredStock (NYSE: PRIF PRK), and 6.375% Series L Term Preferred Stock due 2029(NYSE: PRIF PRL).

About Priority Income Fund
Priority Income Fund, Inc. is a registered closed-end fundthat was created to acquire and grow an investment portfolio primarily consistingof senior secured loans or pools of senior secured loans known ascollateralized loan obligations ("CLOs"). Such loans will generallyhave a floating interest rate and include a first lien on the assets of therespective borrowers, which typically are private and public companies based inthe United States. The Fund is managed by Priority Senior Secured IncomeManagement, LLC, which is led by a team of investment professionals from theinvestment and operations team of Prospect Capital Management L.P.(“Prospect”). For more information,visit https://www.priorityincomefund.com.

About Prospect Capital Management L.P.
Prospect, headquartered in New York City, is anSEC-registered investment adviser that, along with its predecessors andaffiliates, has more than 30-years of investing in and managing high-yieldingdebt and equity investments using both private partnerships and publicly tradedclosed-end structures. Prospect and its affiliates employ a team of over 150professionals who focus on credit-oriented investments yielding attractivecurrent income. Prospect, together with its affiliates, has $8.7 billion ofassets under management as of September 30, 2024. Prospect is the investment adviser to Prospect CapitalCorporation (NASDAQ: PSEC).

Additional Information

Forward-Looking Statements
This press release may contain certain forward-lookingstatements within the meaning of the Private Securities Litigation Reform Actof 1995, including statements regarding the future performance of PriorityIncome Fund, Inc. Words such as “believes," "expects,""projects," and “future" or similar expressions are intended to identifyforward-looking statements. Any such statements, other than statements ofhistorical fact, are highly likely to be affected by unknowable future eventsand conditions, including elements of the future that are or are not under thecontrol of Priority Income Fund, Inc. and that Priority Income Fund, Inc. mayormay not have considered; accordingly, such statements cannot be guarantees orassurances of any aspect of future performance. Actual developments and resultsare highly likely to vary materially from any forward-looking statements. Suchstatements speak only as of the time when made, and Priority Income Fund, Inc.undertakes no obligation to publicly update or revise any forward-lookingstatements, whether as a result of new information, future events or otherwise.

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