Prospect Enhanced Yield Fund, a Structured Credit Debt-Oriented Interval Fund, Announces 9.0% Annualized Total Cash Distribution Rate (on Increased Net Asset Value Since Inception) for October 2025 through December 2025

NEW YORK, Oct. 27, 2025 (GLOBE NEWSWIRE) — The Board of Directors for Prospect Enhanced Yield Fund (“PENF” or the “Fund”), a structured credit debt-oriented interval fund, recently declared monthly cash shareholder distributions for October 2025, November 2025, and December 2025. These distributions represent the first, second, and third monthly distributions paid by the Fund.

The annualized total cash distribution is $2.28 per share (9.0% annualized rate based on the October 20, 2025 net asset value of $25.29 per common share), for distributions with record dates between October 30, 2025 and December 30, 2025.

Net asset value per share has increased by 1.2% from $25.00 at the Fund’s inception on August 6, 2025 to $25.29 on October 20, 2025.

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:

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 $7.5 billion of assets under management as of June 30, 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

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

Past performance is not indicative of future performance. 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. 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. The prospectus may be obtained at our Toll-Free number 833-404-2747 or at ProspectEnhanced.com.

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.