Company: PRIF-PJ
Filing Date: 2025-02-28
Form Type: N-CSRS
Source: 0001554625-25-000010
Chunk: 39

Company: Priority Income Fund, Inc.
Filing Date: 2025-02-28
Form: N-CSRS
Chunk 39
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 investment income, if any, that exceeds the preferred return rate but is less than 1.875% in any calendar quarter (7.5% annualized); and (3) 20.0% of the pre-incentive fee net investment income, if any, that exceeds 1.875% in any calendar quarter. These calculations are appropriately pro-rated for any period of less than three months.

#### 2025 SEMI-ANNUAL REPORT
PRIORITY INCOME FUND, INC. 37

For the six months ended December 31, 2024, expenses incurred by the Company and the payable amount remaining at December 31, 2024 in connection with the Investment Advisory Agreement were as follows:

| Description                                                                                                                                                                                                              |     | Expense |           |     | Payable/(Receivable) |           |
|:-------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|:----|:--------|----------:|:----|:---------------------|----------:|
| Base management fee(1)                                                                                                                                                                                                   |     | $       | 9,783,123 |     | $                    | 4,807,412 |
| Incentive fee(1)                                                                                                                                                                                                         |     |         | 6,147,733 |     |                      | 3,141,641 |
| Routine non-compensation overhead expenses(2)                                                                                                                                                                            |     |         |    20,000 |     |                      |    10,000 |
| (1)The payable amount is presented as part of the Due to Adviser line item on theStatement of Assets and Liabilities.                                                                                                    |     |         |           |     |                      |           |
| (2)The payable amount is presented as part of the Due to Adviser line item on theStatement of Assets and Liabilitiesand the expense amount is presented as Adviser shared service expense on theStatement of Operations. |     |         |           |     |                      |           |

Administration Agreement

On May 9, 2013, the Company entered into an administration agreement (the “Administration Agreement”) with Prospect Administration LLC (the “Administrator”), an affiliate of the Adviser. The Administrator performs, oversees and arranges for the performance of administrative services necessary for the operation of the Company. These services include, but are not limited to, accounting, finance, legal services and offerings of the Company’s debt, common stock and other securities. For providing these services, facilities and personnel, the Company reimburses the Administrator for the Company’s actual