To the Shareholders of PCM, Fund, Inc. (“PCM”), PIMCO Access Income Fund (“PAXS”), PIMCO Corporate & Income Strategy Fund (“PCN”), PIMCO Dynamic Income Opportunities Fund (“PDO”)PAXS, PCN, PDO and PIMCO Corporate & Income Opportunity Fund (“PTY”)PTY (each, a “Fund” and, collectively, the “Funds”):

Notice is hereby given that a Joint Annual Meeting of Shareholders of each Fund (the “Meeting”) will be held at the offices of Pacific Investment Management Company LLC (“PIMCO” or the “Manager”), at 650 Newport Center Drive, Newport Beach, California 92660, on Wednesday,Friday, April 26, 2023,2024, at 8:00 A.M., Pacific Time, for the following purposes, which are more fully described in the accompanying Proxy Statement:

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This Proxy Statement and the Annual Reports to Shareholders for the fiscal year ended June 30, 20222023 for PCM, PAXS, PCN, PDO and PTYthe Funds are also available at 

This Proxy Statement is furnished in connection with the solicitation by the Boards of Trustees/Directors

1 (each,

(each, a “Board”) of the shareholders of each of PCM, Fund, Inc. (“PCM”), PIMCO Access Income Fund (“PAXS”), PIMCO Corporate & Income Strategy Fund (“PCN”), PIMCO Dynamic Income Opportunities Fund (“PDO”)PAXS, PCN, PDO and PIMCO Corporate & Income Opportunity Fund (“PTY”)PTY (each, a “Fund” and, collectively, the “Funds”) of proxies to be voted at the Joint Annual Meeting of Shareholders of each Fund and any adjournment(s) or postponement(s) thereof. The term “Meeting” is used throughout this joint Proxy Statement to refer to the Annual Meeting of

1	Hereinafter, the terms “Trustee” or “Trustees” shall refer to a Director or Directors of PCM, as well as a Trustee or Trustees of PAXS, PCN, PDO and PTY, as applicable.

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Shareholders of each Fund, as dictated by the context. The Meeting will be held at the offices of Pacific Investment Management Company LLC (“PIMCO” or the “Manager”), at 650 Newport Center Drive, Newport Beach, California 92660, on Wednesday,Friday, April 26, 2023,2024, at 8:00 A.M., Pacific Time. The principal executive offices of the Funds are located at 1633 Broadway, New York, New York 10019.

The Meeting is scheduled as a joint meeting of the holders of all shares of the Funds, which consist of holders of common shares of each Fund (the “Common Shareholders”) and holders of preferred shares of PCN and PTY (the “Preferred Shareholders” and, together with the Common Shareholders, the “Shareholders”). The Shareholders of each Fund are expected to consider and vote on similar matters. The Shareholders of each Fund will vote on the applicable proposal set forth herein (the “Proposal”) and on any other matters that may properly be presented for vote by the Shareholders of that Fund. The outcome of voting by the Shareholders of one Fund does not affect the outcome for the other Funds.

The Board of each Fund has fixed the close of business on February 24, 202323, 2024 as the record date (the “Record Date”) for the determination of Shareholders of each Fund entitled to notice of, and to vote at, the Meeting. The Shareholders of each Fund on the Record Date will be entitled to one vote per share on each matter to which they are entitled to vote and that is to be voted on by Shareholders of the Fund, and a fractional vote with respect to fractional shares, with no cumulative voting rights in the election of Trustees. The following table sets forth the number of common shares (“Common Shares”) and preferred shares (“Preferred Shares” and, together with the Common Shares, the “Shares”) issued and outstanding of each Fund at the close of business on the Record Date:

		Outstanding Common Shares				Outstanding Preferred Shares
PCM			11,869,020				N/A
PAXS			44,000,736				N/A
PTY			135,204,383				8,506
PCN			47,730,354				941
PDO			110,566,056				N/A

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The classes of Shares listed for each Fund in the table above are the only classes of Shares currently issued by that Fund.

On each proposal to be brought before the Meeting, the Preferred Shareholders, if any, will have equal voting rights (, one vote per Share) with the applicable Fund’s Common Shareholders and will vote together with Common Shareholders as a single class, except that the re-electionelection of Sarah E. CoganGrace Vandecruze of PTYPCN will be voted on exclusively by the Preferred Shareholders of that Fund voting as a separate class (the “Preferred Shares Trustee”). As summarized in the table below:

You may vote by mail by returning a properly executed proxy card, by internet by going to the website listed on the proxy card, by telephone using the toll-free number listed on the proxy card, or in person by attending the Meeting. Shares represented by duly executed and timely delivered proxies will be voted as instructed on the proxy. If you execute and mail the enclosed proxy and no choice is indicated for the election orof Trustees listed in the attached Notice, your proxy will be voted in favor of the election oras applicable, of all nominees. At any time before it has been voted, your proxy may be revoked in one of the following ways: (i) by timely delivering a signed, written letter of revocation to the Secretary of the applicable Fund at 650 Newport Center Drive, Newport Beach, CA 92660, (ii) by properly executing and timely submitting a later-dated proxy vote to the Funds, or (iii) by attending the Meeting and voting in person. If you are planning to attend the Meetingplease callin advance. You may also call this phone number for information on how to obtain directions to be able to attend the Meeting and vote in person or for information or assistance regarding how to vote by telephone, mail or by internet. Please note that any shareholder wishing to attend the Meetingis required to comply with any health regulations adopted by federal, state and local governments and/or by PIMCO. If any proposal, other than the Proposal set forth herein, properly comes before the Meeting, the persons named as proxies will vote in their sole discretion.

The principal executive offices of the Funds are located at 1633 Broadway, New York, New York 10019. PIMCO serves as the investment manager of each Fund. Additional information regarding the Manager may be found under “Additional Information — Investment Manager” below.

Unless a Fund receives contrary instructions, only one copy of this Proxy Statement will be mailed to a given address where two or more Shareholders share that address and share the same surname. Additional copies of the Proxy Statement will be delivered promptly upon request. Requests may be sent to the Secretary of the Fund c/o Pacific Investment Management Company LLC, 650 Newport Center Drive, Newport Beach, California 92660, or by callingon any business day.

As of the Record Date, the Trustees, nominees and the officers of each Fund as a group and individually beneficially owned less than one percent (1%) of each Fund’s outstanding Shares. As of the Record Date, to the knowledge of the Funds, other than as set forth below, no person beneficially owned more than five percent (5%) of the outstanding shares of a Fund:

In accordance with PAX’s, PCN’s, PDO’s and PTY’s Amended and Restated Agreement and Declaration of Trust (each, a “Declaration”) and PCM’s Articles of Incorporation, as amended (the “Articles”), the Trustees have been divided into the following three classes (each, a “Class”): Class I, Class II and Class III. The expiration dates of the classes are described below, and each Trustee will remain in office until the end of his or her term and when his or her successor is elected and qualified. The Governance and Nominating Committee and the Board of each applicable Fund have recommended the nominees listed herein for election oras applicable, as Trustees by the Shareholders of the applicable Funds.

 With respect to PCM, the term of office of the Class II Directors will expire at the Meeting; the term of office of the Class III Directors will expire at the annual meeting of Shareholders held during the 2023-2024 fiscal year (i.e., the annual meeting held during the fiscal year running from July 1, 2023 through June 30, 2024); andMeeting; the term of office of the Class I Directors will expire at the annual meeting of Shareholders held during the 2024-2025 fiscal year (, the annual meeting held during the fiscal year running from July 1, 2024 through June 30, 2025); and the term of office of the Class II Directors will expire at the annual meeting of Shareholders held during the 2025-2026 fiscal year (, the annual meeting held during the fiscal year running from July 1, 2025 through June 30, 2026). Currently, Ms. McCartneyLibby D. Cantrill is a Class I Director and Mr. FisherDeborah A. DeCotis and Alan Rappaport are Class IIIII Directors. Joseph B. Kittredge, Jr. is also currently a Class III Director of the Fund, and his term will expire at the Meeting. Due to his scheduled retirement from the Board of all PIMCO SponsoredFunds effective June 30, 2024, he is not standing foras a Director of the Fund at the Meeting.The Governance and Nominating Committee has recommended to the Board that Ms. McCartneyCantrill be nominated for election by the Common Shareholders as a Class I Director and Ms. DeCotis and Mr. FisherRappaport each be nominated forby the Common Shareholders as Class IIIII Directors. This is the first annual meeting of shareholders of PCM following Ms. McCartney’sCantrill’s appointment to the Board and is therefore the first time Ms. McCartneyCantrill has been nominated for election by shareholders as a Director of PCM. Consistent with the Fund’s Articles, if elected orthe nominees shall hold office for terms

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coinciding with the Class of Directors to which they have been designated. Therefore, if elected, or re-elected at the Meeting, as applicable, Mr. Fisher and Ms. McCartneyCantrill will serve termsa term consistent with the Class III Directors, which will expire at the Fund’s annual meeting of Shareholders for the 2024-2025 fiscal year (

, the annual meeting held during the fiscal year running from July 1, 2024 through June 30, 2025), and, ifat the Meeting, Ms. DeCotis and Mr. Rappaport will serve terms consistent with the Class III Directors, which will expire at the Fund’s annual meeting of Shareholders for the 2026-2027 fiscal year (, the annual meeting held during the fiscal year running from July 1, 2026 through June 30, 2027).

 With respect to PAXS,PCN, the term of office of the Class I Trustees will expire at the Meeting; the term of office of the Class II Trustees will expire at the annual meeting of Shareholders held during the 2023-20242024-2025 fiscal year (, the annual meeting held during the fiscal year running from July 1, 20232024 through June 30, 2024)2025); and the term of office of the Class III Trustees will expire at the annual meeting of Shareholders held during the 2024-20252025-2026 fiscal year (, the annual meeting held during the fiscal year running from July 1, 20242025 through June 30, 2025)2026). Currently, Kathleen McCartneyLibby D. Cantrill is a Class IIIII Trustee and Deborah DeCotis, David FisherKathleen McCartney and Joseph B. KittredgeE. Grace Vandecruze are Class I Trustees. Mr. Kittredge is also currently a Class I Trustee of the Fund, and his term will expire at the Meeting. Due to his scheduled retirement from the Board of all PIMCO SponsoredFunds effective June 30, 2024, he is not standing foras a Preferred Shares Trustee of the Fund at the Meeting. Ms. Vandecruze was previously elected as a Class I Trustee by the Common Shareholders and Preferred Shareholders, voting together as a single class, and was redesignated by the Board as a Class I Trustee of PCN, to be elected by the Preferred Shareholders, voting as a separate class. The Governance and Nominating Committee has recommended to the Board that Ms. McCartney be nominated for election as a Class III Trustee and Ms. DeCotis and Messrs. Kittredge and Fisher eachCantrill be nominated for election by the Common Shareholders and Preferred Shareholders, voting together as a single class, as a Class II Trustee, that Ms. McCartney be nominated forby the Common Shareholders and Preferred Shareholders, voting together as a single class, as a Class I Trustees.Trustee, and that

 With respect to PCN,PDO, the term of office of the Class III Trustees will expire at the Meeting; the term of office of the Class I Trustees will expire at the annual meeting of Shareholders held during the 2023-20242024-2025 fiscal year (, the annual meeting held during the fiscal year running from July 1, 20232024 through June 30, 2024)2025); and the term of office of the Class II Trustees will expire at the annual meeting of Shareholders held during the 2024-20252025-2026 fiscal year (, the annual meeting held during the fiscal year running from July 1, 20242025 through June 30, 2025)2026). Currently, Kathleen McCartney is a Class I Trustee and David FisherLibby D. Cantrill and Alan Rappaport are Class III Trustees. The Governance and Nominating Committee has recommended to the Board that Ms. Cantrill be nominated for election by the Common Shareholders, and that Mr. Rappaport be nominated forby the Common Shareholders, each as a Class III Trustee. This is the first annual meeting of shareholders of PDO following Ms. Cantrill’s appointment to the Board and is therefore the first time Ms. Cantrill has been nominated for election by shareholders as a Trustee of PDO. Consistent with the Fund’s Declaration, if elected orthe nominees shall hold office for terms coinciding with the Class of Trustees to which they have been designated. Therefore, if elected orat the Meeting, as applicable, Ms. Cantrill and Mr. Rappaport will serve terms consistent with the Class III Trustees, which will expire at the Fund’s annual meeting of Shareholders for the 2026-2027 fiscal year (, the annual meeting held during the fiscal year running from July 1, 2026 through June 30, 2027).

All members of the Board of each of PAXS, PCN, PDO and PTY are and will remain, if elected or“Continuing Trustees,” as such term is defined in the Declaration of the applicable Fund, having either served as Trustee since the inception of the Fund or formonths, or having been nominated, or designated as a Continuing Trustee, by at least a majority of the Continuing Trustees then members of the Board. Pursuant to the Declaration of each of PAXS, PCN, PDO and PTY, certain corporate actions and/or transactions involving the Fund outside of the ordinary course of business (including, among others, mergers, consolidations, significant dispositions of Fund assets, any shareholder proposals as to specific investment decisions and the conversion of the Fund to anfund) would require the approval of 75% of the Fund’s outstanding shares, unless approved by both a majority of the Board of Trustees and 75% of the Continuing Trustees (in which case shareholders have only the voting rights required by the 1940 Act with respect to such transaction or corporate action, if any).

The following table summarizes the nominees who will stand for election orat the Meeting, the respective Classes of Trustees to which they have been designated and the expiration of their respective terms if elected oras applicable:

Under this classified Board structure, generally only those Trustees in a single Class may be replaced in any one year, and it would require a minimum of two years to change a majority of the Board under normal circumstances. This structure may make it more difficult for a Fund’s Shareholders to change the majority of Trustees of a Fund and, thus, promotes the continuity of management and limits the ability of other entities or persons to acquire control of a Fund by delaying the replacement of a majority of the Board.

Unless authority is withheld, it is the intention of the persons named in the enclosed proxy for a Fund to vote each proxy for the persons listed above for that Fund. Each of the nominees has indicated he or she will serve if elected oras applicable, but if he or she should be unable to serve for a Fund, the proxy holders may vote in favor of such substitute nominee as the Board may designate (or, alternatively, the Board may determine to save a vacancy).

 — The Board of each Fund is currently composedconsists of eight Trustees, six of whom are Independent Trustees,not “interested persons” (within the meaning of Section 2(a)(19) of the 1940 Act) of the Fund or of the Manager (the “Independent Trustees”), which represents 75% of the Trustees that are Independent Trustees.

The Board of each Fund meets regularly four times each year to discuss and consider matters concerning the Funds, and also holds special meetings to address matters arising between regular meetings. The Independent Trustees regularly meet outside the presence of management and are advised by independent legal counsel. Regular meetings generally take place in person; other meetings may take place in person or by telephone.

The Board of each Fund has established five standing Committees to facilitate the Trustees’ oversight of the management of the Funds: the Audit Oversight Committee, the Governance and Nominating Committee, the Valuation Oversight Committee, the Contracts Committee and the Performance Committee. The functions and role of each Committee are described below under “Committees of the Board of Trustees.” The membership of each Committee (other than the Performance Committee) consists of only the Independent Trustees. The Performance Committee consists of all the Trustees. The Independent Trustees believe that participation on each Committee allows them to participate in the full range of the Board’s oversight duties.

The Board reviews its leadership structure periodically and has determined that this leadership structure, including an Independent Chair, a supermajority of Independent Trustees and Committee membership limited to Independent Trustees (with the exception of the Performance Committee), is appropriate in light of the characteristics and circumstances of each Fund. In reaching this conclusion, the Board considered, among other things, the predominant role of the Manager in themanagement of Fund affairs, the extent to which the work of the Board is conducted through the Committees, the number of funds in the fund complexFund Complex (as defined below) overseen by Board members, the variety of asset classes those funds include, the assets of each Fund and other funds in the fund complexFund Complex and the management and other service arrangements of each Fund and such other funds. The Board also believes that its structure, including the presence of two

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Trustees who are or have been executives with the Manager or Manager-affiliated entities, facilitates an efficient flow of information concerning the management of each Fund to the Independent Trustees.

 — Each of the Funds has retained the Manager to provide investment advisory services and administrative services. Accordingly, the Manager is immediately responsible for the management of risks that may arise from Fund investments and operations. Some employees of the Manager serve as

In addition, the Board has appointed a Chief Compliance Officer (“CCO”). The CCO oversees the development of compliance policies and procedures that are reasonably designed to minimize the risk of violations of the federal securities laws (“Compliance Policies”). The CCO reports directly to the Independent Trustees, interacts with individuals within the Manager’s organization and provides presentations to the Board at its quarterly meetings and an annual report on the application of the Compliance Policies. The Board periodically discusses relevant risks affecting the Funds with the CCO at these meetings. The Board has approved the Compliance Policies and reviews the CCO’s reports. Further, the Board annually reviews the sufficiency of the Compliance Policies, as well as the appointment and compensation of the CCO.

The Board recognizes that the reports it receives concerning risk management matters are, by their nature, typically summaries of the relevant information. Moreover, the Board recognizes that not all risks that may affect the Funds can be identified in advance; that it may not be practical or cost-effective

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to eliminate or mitigate certain risks; that it may be necessary to bear certain risks (such as investment-related risks) in seeking to achieve the Funds’ investment objectives; and that the processes, procedures and controls employed to address certain risks may be limited in their effectiveness.

The Trustees and officers of the Funds, their year of birth, the positions they hold with the Funds, their term of office and length of time served, a description of their principal occupations during the past five years, the number of portfolios

The following table states the dollar range of equity securities beneficially owned as of the Record Date by each Trustee and nominee of each Fund and, on an aggregate basis, of any registered investment companies overseen by the Trustees in the “family of investment companies,” including the Funds.

To the knowledge of the Funds, as of the Record Date, Trustees and nominees who are Independent Trustees or Independent Nominees and their immediate family members did not own securities of an investment adviser or principal underwriter of the Funds or a person (other than a registered investment company) directly or indirectly controlling, controlled by, or under common control with an investment adviser or principal underwriter of the Funds.

 Each of the Independent Trustees serves as a trustee of PIMCO Municipal Income Fund, PIMCO California Municipal Income Fund, PIMCO New York Municipal Income Fund, PIMCO Municipal Income Fund II, PIMCO California Municipal Income Fund II, PIMCO New York Municipal Income Fund II, PIMCO Municipal Income Fund III, PIMCO California Municipal Income Fund III, PIMCO New York Municipal Income Fund III, PIMCO Access Income Fund, PIMCO Corporate & Income Strategy Fund, PIMCO Corporate & Income Opportunity Fund, PIMCO Dynamic Income Fund, PIMCO Dynamic Income Opportunities Fund, PIMCO High Income Fund, PIMCO Income Strategy Fund, PIMCO Income Strategy Fund II, PIMCO Global StocksPLUS

®

& Income Fund, PIMCO Energy and Tactical Credit OpportunitiesDynamic Income Strategy Fund, PCM Fund, Inc., and PIMCO Strategic Income Fund, Inc. and PIMCO Dynamic Income Opportunities Fund,, each a

closed-end

fund for which the Manager serves as investment manager (together with the Funds, the “PIMCO

Closed-End

Funds”), as well as PIMCO Flexible Emerging Markets Income Fund, PIMCO Flexible Credit Income Fund, PIMCO California Flexible Municipal Income Fund and PIMCO Flexible Municipal Income Fund, each a

closed-end

investment management company that is operated as an “interval fund” for which the Manager serves as investment manager (the “PIMCO Interval Funds”) and PIMCO Managed Accounts Trust (“PMAT”), an

open-end

investment management company with multiple series for which the Manager

Each Independent Trustee receives annual compensation of $250,000 for his or her service on the Boards of the PIMCO-Managed Funds, payable quarterly. The Independent Chair of the Boards receives an additional $75,000 per year, payable quarterly. The Audit Oversight Committee Chair receives an additional $35,000 annually, payable quarterly. The Performance Committee Chair and the Valuation Oversight Committee Chair each receive an additional $10,000 annually, payable quarterly. The Contracts Committee Chair receives an additional $25,000 annually, payable quarterly. Trustees are also reimbursed for meeting-related expenses.

Each Trustee’s compensation for his or her service as a Trustee on the Boards of the PIMCO-Managed Funds and other costs in connection with joint

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meetings of such Funds are allocated among the PIMCO-Managed Funds, as applicable, on the basis of fixed percentages as among PMAT, the PIMCO Interval Funds and the PIMCO

Funds. Trustee compensation and other costs are then further allocated pro rata among the individual funds within each grouping based on each such fund’s relative net assets.

The Funds have no employees. The Funds’ officers and Interested Trustees (Messrs. Fisher(Ms. Cantrill and Maney)Mr. Fisher) are compensated by the Manager or its affiliates, as applicable.

The Trustees do not currently receive any pension or retirement benefits from the Funds or the Fund Complex (see below).

The following table sets forth information regarding the compensation received by the Independent Trustees and nominees for the fiscal year ended June 30, 2022.2023. For the calendar year ended December 31, 2022,2023, the Independent Trustees received the compensation set forth in the table below for serving as Trustees of the Funds and other funds in the same Fund Complex as the Funds. Each officer and each Trustee who is a director, officer, partner, member or employee of the Manager, or of any entity controlling, controlled by or under common control with the Manager, including any Interested Trustee, serves without any compensation from the Funds.

 — The Board has determined that each nominee is qualified to serve as a Trustee based on several factors (none of which alone is decisive). Each nominee is knowledgeable about the Funds’ business and service provider arrangements in part because he or she serves as trustee or director to a number of other investment companies advised by PIMCO and/or its affiliates with similar arrangements to that of the Funds or has had significant experience in the investment management and/or financial services industries. Among the factors the Board considers when concluding that an individual is qualified to serve on the Board were the following: (i) the individual’s business and professional experience and accomplishments; (ii) the individual’s ability to work effectively with other members of the Board; (iii) the individual’s prior experience, if any, serving on the boards of public companies (including, where relevant, other investment companies) and other complex enterprises and organizations; and (iv) how the individual’s skills, experiences and attributes would contribute to an appropriate mix of relevant skills and experience on the Board.

In respect of each current Trustee and/or nominee, the individual’s substantial professional accomplishments and prior experience, including, in

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some cases, in fields related to the operations of the Funds, were a significant factor in the determination by the Board that the individual is qualified to serve as a Trustee of the Funds. The following is a summary of various qualifications, experiences and skills of each Trustee and/or nominee (in addition to business experience during the past five years set forth in the table above) that contributed to the Board’s conclusion that an individual is qualified to serve on the Board. References to qualifications, experiences and skills are not intended to hold out the Board or individual nominees as having any special expertise or experience and shall not impose any greater responsibility or liability on any such person or on the Board by reason thereof.

Deborah A. DeCotis

 — Ms. DeCotisCantrill has substantial senior executive experience in the investment banking industry, havingmanagement industry. Ms. Cantrill has 18 years of investment experience and is the Head of Public Policy and is a managing director in PIMCO’s portfolio management group. In her role, she analyzes policy and political risk for the firm’s Investment Committee and leads U.S. policymaker engagement and policy strategy for the firm. She also works closely with PIMCO’s Global Advisory Board and has served as a Managing Director for Morgan Stanley. She has extensive board experience and experience in oversight of investment management functions through her experience as a former Directorrotating

Ms. Cogan has substantial legal experience in the investment management industry, having served as a partner at a large international law firm in the corporate department for over 25 years and as former head of the registered funds practice. She has extensive experience in oversight of investment company boards through her experience as counsel to the Independent Trustees of certain PIMCO-Managed Funds and as counsel to other independent trustees, investment companies and asset management firms.

Mr. Fisher has substantial executive experience in the investment management industry. Mr. Fisher is a Managing Director andof U.S. Global Wealth Management Strategic Accounts at PIMCO. In this role, he helps oversee relationships with key distribution partners and develop the firm’s growth strategy across wealth management channels. Prior to taking on this position, Mr. Fisher was Head of Traditional Product Strategies at PIMCO, where he oversaw teams of product strategists covering core andfixed income strategies as well as the firm’s suite of equity strategies, was a Global Bond Strategist at PIMCO, and has managed PIMCO’s Total Return Strategy. Because of his familiarity with PIMCO and its affiliates, Mr. Fisher serves as an important information resource for the Independent Trustees and as a facilitator of communication with PIMCO.

— Mr. Kittredge has substantial experience in the investment management industry, having served for thirteen years as General Counsel to Grantham, Mayo, Van Otterloo & Co. LLC, the adviser to the GMO mutual fund complex, and as a Trustee and senior officer for Fundsfunds in the GMO

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complex. Previously, he was a partner at a large international law firm. Mr. Kittredge has extensive experience in asset management regulation and has provided legal advice to investment company boards, registered funds and their sponsors with respect to a broad range of financial, legal, tax, regulatory and other issues. He also serves as the Audit Oversight Committee’s Chair and has been determined by the Board to be an “audit committee financial expert.”

John C. Maney — Mr. Maney has substantial executive and board experience in the investment management industry. Prior to January 2020, he served in a variety of senior-level positions with investment advisory firms affiliated with the Manager, including Allianz Asset Management of America L.P. (the Manager’s U.S. parent company). In addition, Mr. Maney currently provides various services to the Manager as a senior advisor. Because of his familiarity with the Manager and affiliated entities, he serves as an important information resource for the Independent Trustees and as a facilitator of communication with the Manager and its affiliates.