PIMCO Funds Complete Mergers, Reorganizing into Three Funds.

PIMCO completed mergers for six municipal income funds, with each Acquiring Fund absorbing the assets and liabilities of an Acquired Fund. The mergers occurred on August 1, 2025, following the close of business. The affected funds include PIMCO Municipal Income Fund II, PIMCO New York Municipal Income Fund II, PIMCO California Municipal Income Fund, PIMCO Municipal Income Fund, PIMCO New York Municipal Income Fund, and PIMCO California Municipal Income Fund III.

PIMCO, one of the world's premier fixed income investment managers, has completed a series of mergers involving six of its municipal income funds. The mergers, which occurred on August 1, 2025, following the close of business, saw each Acquiring Fund absorb the assets and liabilities of an Acquired Fund.

The affected funds include PIMCO Municipal Income Fund II (NYSE: PML), PIMCO New York Municipal Income Fund II (NYSE: PNI), and PIMCO California Municipal Income Fund (NYSE: PCQ). The Acquiring Funds also included PIMCO Municipal Income Fund (NYSE: PMF), PIMCO New York Municipal Income Fund (NYSE: PNF), and PIMCO California Municipal Income Fund III (NYSE: PZC).

As part of the mergers, each Acquiring Fund issued new common shares to the shareholders of the Acquired Funds, with an equal aggregate net asset value (NAV). The exchange was based on the NAV per common share of each applicable Acquired Fund in relation to the corresponding Acquiring Fund's NAV per share as of the close of business on August 1, 2025.

Additionally, each Fund had one or more series of Remarketable Variable Rate MuniFund Term Preferred Shares (RVMTP Shares) outstanding. These shares were also exchanged for RVMTP Shares of the corresponding Acquiring Fund with an aggregate liquidation preference equal to, and other terms that are substantially identical to, the corresponding series of RVMTP Shares of each such Acquired Fund.

The mergers are part of PIMCO's ongoing efforts to streamline its fund offerings and improve operational efficiency. PIMCO was founded in 1971 in Newport Beach, California, and is owned by Allianz S.E., a leading global diversified financial services provider.

Registration statements relating to each Acquiring Fund's Common Merger Shares have been filed with, and declared effective by, the Securities and Exchange Commission (SEC). This press release is not intended to, and does not, constitute an offer to purchase or sell shares of the Funds; nor is this press release intended to solicit a proxy from any shareholder of the Funds.

For further information, please contact:
Financial Advisors: (800) 628-1237
Shareholders: (844) 337-4626 or (844) 33-PIMCO
PIMCO Media Relations: (212) 597-1054

References:
[1] https://finance.yahoo.com/news/pimco-closed-end-funds-announce-100000591.html