Prospect Enhanced Yield Fund Announces 9.33% Annualized Total Cash Distribution Rate (on Net Asset Value) for April through June 2026

NEW YORK, April 27, 2026 (GLOBE NEWSWIRE) -- Prospect Enhanced Yield Fund ("PENF" or the "Fund") announced today that the Fund's Board of Directors has declared monthly cash shareholder distributions for April 2026, May 2026, and June 2026. These distributions represent the seventh, eighth, and nineth monthly distributions paid by the Fund.

The annualized total cash distribution is $2.28 per share (9.33% annualized rate based on the April 19, 2026 net asset value), for distributions with record dates between April 29, 2026 and June 29, 2026 based on the current net asset value of $24.44 per common share.

The cash distribution will have monthly record dates and will be payable monthly to common stockholders of record at the close of business each month. These declared distributions equal $0.57 on a quarterly basis as follows:

Distributions shall first be treated as a distribution of taxable investment company income undistributed from the prior year (not applicable for 2025) and then treated as a distribution of taxable investment company income for the current year. This treatment will not affect tax reporting to shareholders.

The Prospect Enhanced Yield Fund is distributed by Ultimus Fund Distributors, LLC, Member FINRA/SIPC.

About Prospect Enhanced Yield Fund

Prospect Enhanced Yield Fund is a closed-end fund that operates as an interval fund and was created to acquire and grow an investment portfolio primarily consisting of non-mortgage related structured credit instruments, including: asset-backed securities, collateralized loan obligations and other securitized investments representing interests in cashflows from various assets, such as loans, leases, and warehouse facilities. The Fund may invest in structured credit instruments that are fixed rate or floating or variable rate, and of any credit quality, duration, or maturity. The Fund is managed by Prospect Enhanced Yield Management, LLC, which is led by a team of investment professionals from the investment and operations team of Prospect Capital Management L.P. For more information, visit www.ProspectEnhanced.com.

About Prospect Capital Management L.P.

Prospect Capital Management L.P. ("Prospect"), headquartered in New York City, is an SEC-registered investment adviser that, along with its predecessors and affiliates, has more than 30-years of investing in and managing high-yielding debt and equity investments using both private partnerships and publicly traded closed-end structures. Prospect and its affiliates employ a team of over 100 professionals who focus on credit-oriented investments yielding attractive current income. Prospect, together with its affiliates, has $7.2 billion of assets under management as of December 31, 2025. Prospect is the investment adviser to Prospect Capital Corporation (NASDAQ:PSEC). For more information, call (212) 448-0702 or visit https://www.prospectcap.com.

Additional Information

Past performance is not indicative of future performance. The achievement of investment returns is dependent on a multitude of factors, many of which are beyond the control of Prospect Enhanced Yield Fund. Any investment involves risk, including the risk of loss of all or a portion of the invested amount. Any investment is subject to a variety of risks and there can be no assurance that any investment will meet its investment objectives, if any, or that investors will not incur losses.

Our distributions may exceed our earnings, and therefore, portions of the distributions that we make may be a return of the money that you originally invested and represent a return of capital to you for tax purposes. The Fund will ordinarily pay distributions from its net investment income, if any, on a monthly basis. Distributions are not guaranteed. Based on current estimates, April, May and June 2026 distributions reflect a return of income, and the Fund does not expect any portion of the distributions to be a return of capital. Such a return of capital is not immediately taxable, but reduces your tax basis in our shares, which may result in higher taxes for you even if your shares are sold at a price below your original investment.

Investors should consider the investment objective and policies, risk considerations, charges and ongoing expenses of an investment carefully before investing. The prospectus and summary prospectus contains this and other information relevant to an investment in the fund. Please read the prospectus or summary prospectus carefully before you invest or send money. To obtain a prospectus, please contact your investment representative or Investor Services at 866.655.3650.

Forward-Looking Statements

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