Dallas, May 1, 2024 - The Highland Opportunities and Income Fund (NYSE: HFRO) has announced its regular monthly distribution of $0.0385 per share, payable on May 31, 2024, to shareholders of record at the close of business on May 24, 2024.

The Fund, managed by NexPoint Asset Management, L.P., operates as a closed-end fund aiming to provide capital growth and income in a registered fund format. This distribution adjustment aligns with the Fund's current portfolio and investment objective, as implemented on January 4, 2024.

Investors are advised to carefully consider the investment objectives, risks, charges, and expenses of the Highland Opportunities and Income Fund before investing. The Fund's prospectus, available on the NexPoint Asset Management website, provides detailed information for potential investors.

The Fund's investment strategy includes a diverse range of securities and instruments, such as real estate-related investments, fixed-rate loans, corporate bonds, structured products, equities, and futures. However, the distribution may include a return of capital, and shareholders are encouraged to review the provided notices for accurate distribution information.

Highland Opportunities and Income Fund also acknowledges various risks associated with its investment approach, including closed-end fund risk, credit risk, real estate industry risk, illiquidity of investments risk, and ongoing monitoring risk. These risks underscore the importance of thorough due diligence by investors.

For further information on the Highland Opportunities and Income Fund and NexPoint Asset Management, L.P., interested parties can visit nexpointassetmgmt.com/opportunities-income-fund.

In conclusion, the Highland Opportunities and Income Fund remains committed to its investment objectives despite the inherent risks involved in its portfolio composition. The Fund's proactive approach to aligning distributions with its investment strategy reflects its dedication to providing value to shareholders.