KKR Income Opportunities Fund appoints Eric Mogelof as Trustee, Chairman and Chairman

NEW YORK–() – KKR Income Opportunities Fund (“KIO” or the “Fund”) (NYSE: KIO) announced today that the Board of Directors of KIO has appointed Eric Mogelof as Trustee, Chairman and Chairman of the Fund. Mr. Mogelof replaces Suzanne Donohoe who has resigned from her duties as Trustee, President and President of KIO. Mr. Mogelof recently joined KKR as a partner and Global Head of KKR’s Customer and Partner Group, succeeding Ms. Donohoe who has been promoted to a new role as KKR’s Senior Global Head of Strategic Growth.

Prior to joining KKR, Mr. Mogelof most recently served as Head of PIMCO’s Global Wealth Management business in the United States and was a member of the PIMCO Executive Committee. He has over two decades of relevant experience, including as Head of PIMCO’s Asia-Pacific Business, Co-Head of PIMCO’s Institutional Business in the Americas, and Head of PIMCO’s Global Consulting Business. Mr. Mogelof is a very experienced leader and personnel manager. During his time at PIMCO, he held several management positions spanning multiple geographies, supervising hundreds of employees.

About the KKR Income Opportunities Fund

KIO is a diversified closed-end investment company managed by KKR Credit Advisors (US) LLC (“KKR Credit”), an indirect subsidiary of KKR & Co. Inc. The primary investment objective of KIO is to seek a high level of current income. with a secondary objective of capital appreciation. KIO will seek to achieve its investment objective by investing primarily in senior and senior secured loans, unsecured loans and high yield corporate debt securities. He plans to employ an aggressive strategy of investing in a targeted portfolio of loans and fixed income instruments of US and non-US issuers and implementing hedging strategies to achieve attractive risk-adjusted returns. . Please visit www.kkrfunds.com/kio for additional information.

About KKR Credit

Launched by KKR in 2004, KKR Credit invests on behalf of its managed funds, clients and accounts across the spectrum of business credit, including secured credit, bank loans and high yield securities. and alternative assets such as mezzanine finance, investing in special situations and structured finance. With approximately 280 employees, including over 130 investment professionals, KKR Credit’s investment teams are closely aligned with KKR’s private equity investment wealth and industry resources.

About KKR

KKR is a leading global investment firm that manages several alternative asset classes, including private equity, credit and real assets, with strategic partners that manage hedge funds. KKR aims to generate attractive investment returns for its fund investors by following a patient and disciplined investment approach, employing world-class people and driving growth and value creation with the KKR portfolio companies. KKR invests its own capital alongside the capital it manages for fund investors and provides financing solutions and investment opportunities through its capital markets business. References to KKR’s investments may include the activities of its sponsored funds. For more information about KKR & Co. Inc. (NYSE: KKR), please visit the KKR website at www.kkr.com and on Twitter @KKR_Co.

Forward-looking statements

This press release contains certain statements that may include “forward-looking statements” within the meaning of federal securities laws. All statements, other than statements of historical fact, included in this document are “forward-looking statements”. Forward-looking statements are based on the Fund’s and KKR’s beliefs, assumptions and expectations regarding its future performance, taking into account all information currently available. These beliefs, assumptions and expectations may change due to many possible events or factors, not all of which are known to the Fund or KKR or are not under their control. The Fund and KKR do not undertake to update forward-looking statements to reflect circumstances or events that occur after the date on which such statements were made, except as required by law.

Fund Disclaimer

This press release does not constitute an offer to sell securities and does not solicit an offer to buy securities in any jurisdiction where the offering or sale is not permitted. Investors should carefully consider the investment objectives, risks, charges and expenses of the Fund before investing. The Fund prospectus, which contains this and other important information about the Fund, should be read carefully before investing. A copy of the Fund’s prospectus can be obtained from the Fund’s website. An investment in the Fund should not constitute a complete investment program.

The investment return, price, payout rate, market value and net asset value (“NAV”) of a fund’s shares fluctuate with market conditions. Closed-end, listed funds frequently trade for less than their net asset value, which can increase an investor’s risk of loss. There can be no assurance that the Fund will achieve its investment objectives. The distribution rates of the Fund may be affected by many factors, including changes in realized and projected market returns, the performance of the Fund and other factors. There can be no assurance that a change in market conditions or other factors will not result in a change in the distribution rate of the Fund at a later date.

An investment in the Fund is not suitable for all investors and is not intended to constitute a complete investment program. There are risks associated with investing in the Fund, including the risk that you will receive little or no return on your investment or that you will lose some or even all of your investment. Therefore, potential investors should carefully consider the investment objectives, risks, charges and expenses of the Fund and should consult a tax, legal or financial advisor before making any investment decision. The market price (in the case of KIO) and the net asset value of the shares of the Fund fluctuate and it is possible to lose money by investing in the Fund. Past performance is no guarantee of future results.

The Fund will invest in loans and other types of fixed income instruments and securities. These investments may be guaranteed, partially guaranteed or unsecured and may not be rated, and whether rated or not, may have speculative characteristics. The market price of the Fund’s investments will change in response to changes in interest rates and other factors. Usually, when interest rates rise, the values ​​of fixed income instruments fall, and vice versa.

The use of leverage creates an opportunity for increased income and returns for common shareholders but, at the same time, creates risks, including the likelihood of greater volatility in net asset value and market price and distributions on common shares. In particular, leverage can amplify interest rate risk, which is the risk that the prices of the securities in the portfolio will fall (or rise) if the market interest rates for these types of securities rise (or decrease). Therefore, leverage may result in larger changes in the net asset value of the Fund, which will be fully borne by the holders of common shares of the Fund.

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