PIMCO Income Strategy Fund (NYSE:PFL) and PIMCO Income Strategy Fund II (NYSE:PFN) (each a “Fund” and, collectively, the “Funds”) today confirmed that the Funds’ annual Shareholder Meetings for the 2011-2012 fiscal year will be held jointly on Tuesday, July 31, 2012 at 10:30 A.M. This is the same date for the meetings as was previously announced in a press release dated October 11, 2011. The Funds’ last proxy statement, relating to the meetings for the prior fiscal year, had originally indicated an earlier anticipated date for the Shareholder Meetings in the 2011-2012 fiscal year. The meetings will be held at the offices of Allianz Global Investors Fund Management LLC (“AGIFM”), at 1633 Broadway, between West 50th and West 51st Streets, 42nd Floor, New York, New York 10019. Shareholders of record as of the close of business on May 31, 2012 are entitled to be present and to vote at the meetings or any adjourned meetings. Shareholder proposals intended to be included in the Funds’ proxy statement and presented at the annual meetings on July 31, 2012 must be received by the Funds no later than May 1, 2012. The submission by a shareholder of a proposal for inclusion in the proxy materials does not guarantee that it will be included. Shareholders submitting any other proposals to the Funds (including proposals for election of Trustee candidates) intended to be presented at the annual meeting (i.e., other than those to be included in the Funds’ proxy materials) must ensure that such proposals are received by the Funds, in good order and in compliance with all applicable legal requirements and requirements set forth in the Funds’ Bylaws, no later than the close of business on June 15, 2012. All shareholder proposals are subject to certain requirements under the federal securities laws and must be submitted in accordance with the Funds’ Bylaws.