DALLAS – November 03, 2026 -- The Highland Opportunities and Income Fund (NYSE: HFRO) declared a regular monthly distribution of $0.0385 per common share, payable on November 30, 2026.

HFRO sets November 23 record date for shareholders

Shareholders of record at the close of business on November 23, 2026, will receive the payment. The closed-end fund declares and pays distributions monthly.

Fund spreads investments across real estate, credit and floating-rate assets

HFRO seeks capital growth alongside income in a registered fund format. It invests directly and indirectly, including through derivatives that are the economic equivalent of direct holdings, in three categories:

• Securities and instruments secured by real estate, including REITs, preferred equity, convertible securities and mezzanine debt.
• Other instruments, including fixed-rate loans, corporate bonds, distressed securities, structured products such as mortgage-backed securities, collateralized loan obligations and asset-backed securities, public and private equities, and futures and options.
• Floating rate loans and other securities deemed floating rate investments.

NexPoint Asset Management, L.P. manages the fund.

Distribution may include return of capital

The fund states that the payout may include a return of capital. Its Section 19(a)-1 Source of Distribution Notice, published on the NexPoint Asset Management website, provides estimated amounts and sources. The fund cautions that these estimates should not be relied upon for tax reporting.

Fund flags discount, credit and liquidity risks

Shares of closed-end funds frequently trade at a discount to net asset value, and the fund cannot predict whether its shares will trade at, below or above NAV. HFRO may invest all or substantially all of its assets in Senior Loans or other securities rated below investment grade. Non-payment of interest or principal would reduce fund income and could lower NAV. The fund also lists real estate industry risk, illiquidity of investments and ongoing monitoring risk tied to loan agents. It gives no assurance that it will achieve its investment objectives.