# EDGAR Filing Document

**Accession Number:** 0001710680
**File Stem:** 0001438934-25-001023
**Filing Date:** 2025-8
**Character Count:** 64055
**Document Hash:** efe1b54dde4be28b55f7235b928a08e6
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0001438934-25-001023.hdr.sgml**: 20250819

**ACCESSION NUMBER**: 0001438934-25-001023

**CONFORMED SUBMISSION TYPE**: N-PX

**PUBLIC DOCUMENT COUNT**: 2

**CONFORMED PERIOD OF REPORT**: 20250630

**FILED AS OF DATE**: 20250819

**DATE AS OF CHANGE**: 20250819

**EFFECTIVENESS DATE**: 20250819

**FILER**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** HIGHLAND OPPORTUNITIES & INCOME FUND
- **CENTRAL INDEX KEY:** 0001710680

**ORGANIZATION NAME:**
- **EIN:** 456245636
- **STATE OF INCORPORATION:** MA
- **FISCAL YEAR END:** 0630

**FILING VALUES:**
- **FORM TYPE:** N-PX
- **SEC ACT:** 1940 Act
- **SEC FILE NUMBER:** 811-23268
- **FILM NUMBER:** 251229886

**BUSINESS ADDRESS:**
- **STREET 1:** 300 CRESCENT COURT
- **STREET 2:** SUITE 700
- **CITY:** DALLAS
- **STATE:** TX
- **ZIP:** 75201
- **BUSINESS PHONE:** 214-276-6300

**MAIL ADDRESS:**
- **STREET 1:** 300 CRESCENT COURT
- **STREET 2:** SUITE 700
- **CITY:** DALLAS
- **STATE:** TX
- **ZIP:** 75201

**FORMER COMPANY:**
- **FORMER CONFORMED NAME:** HIGHLAND INCOME FUND\MA
- **DATE OF NAME CHANGE:** 20190521

**FORMER COMPANY:**
- **FORMER CONFORMED NAME:** HIGHLAND FLOATING RATE OPPORTUNITIES FUND
- **DATE OF NAME CHANGE:** 20170925

**FORMER COMPANY:**
- **FORMER CONFORMED NAME:** HIGHLAND FLOATING RATE OPPORTUNITIES FUND II
- **DATE OF NAME CHANGE:** 20170628

## FORM N-PX
### ANNUAL REPORT OF PROXY VOTING RECORD

## N-PX: Filer Information

**Filer CIK:** 0001710680

**Date of Report:** 06/30/2025

**Are you a Registered Management Investment Company or an Institutional Manager?:** Registered Management Investment Company

**Is this a LIVE or TEST Filing?:** LIVE

**Is this an electronic copy of an official filing submitted in paper format?:** [ ]

### Submission Contact Information
_Not provided in this filing._

### Notification Information
**Notify via Filing Website only?:** [ ]

## N-PX: Cover Page

**Name of reporting person:** Highland Opportunities  Income Fund

**Address:** 300 Crescent Court, Dallas, TX 75201

**Telephone number:** 214-276-6300

**Name of agent for service:** CT Corporation System

**Agent Address:** 155 Federal Street, Boston, MA 02110

**Reporting Period:** Report for the year ended 06/30/2025

**SEC File Number:** 811-23268

**CRD Number (if any):** —

**Other SEC File Number (if any):** —

**LEI (if any):** 254900CMUE9FRYL2UR80

**Report Type (check only one):**

Institutional Manager.

- [ ] Institutional Manager Voting Report

- [ ] Institutional Manager Notice Report

- [ ] Institutional Manager Combination Report

Registered Management Investment Company.

- [x] Fund Voting Report

- [ ] Fund Notice Report

**Do you wish to provide explanatory information pursuant to Special Instruction B.4?:**

- [x] No

- [ ] Yes

**Additional information:** —

## N-PX: Summary - Included Managers

**Number of Included Institutional Managers:** 1

**Included Institutional Managers:** —

## FORM N-PX PROXY VOTING RECORD

| NAME OF ISSUER                     | CUSIP     | MEETING DATE   | VOTE DESCRIPTION                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                              | VOTE CATEGORY                |   SHARES VOTED |   SHARES ON LOAN | HOW VOTED   |   SHARES VOTED FOR OR AGAINST MANAGEMENT | FOR OR AGAINST MANAGEMENT   | OTHER INFO   |
|:---|:---|:---|:---|:---|---:|---:|:---|---:|:---|:---|
| HIGHLAND FUNDS                     | 43010T104 | 06/16/2025     | DIRECTOR: Ethan Powell                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                        | DIRECTOR ELECTIONS           |          86246 |                0 | FOR         |                                    86246 | FOR                         |  |
| HIGHLAND FUNDS                     | 43010T104 | 06/16/2025     | DIRECTOR: Bryan A. Ward                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                       | DIRECTOR ELECTIONS           |          86246 |                0 | FOR         |                                    86246 | FOR                         |  |
| NEXPOINT FUNDS                     | 65340G205 | 06/10/2025     | Election of Trustee to serve until the 2026 annual Meeting of shareholders: James Dondero                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                     | DIRECTOR ELECTIONS           |        1444014 |                0 | FOR         |                                  1444014 | FOR                         |  |
| NEXPOINT FUNDS                     | 65340G205 | 06/10/2025     | Election of Trustee to serve until the 2026 annual Meeting of shareholders: Brian Mitts                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                       | DIRECTOR ELECTIONS           |        1444014 |                0 | FOR         |                                  1444014 | FOR                         |  |
| NEXPOINT FUNDS                     | 65340G205 | 06/10/2025     | Election of Trustee to serve until the 2026 annual Meeting of shareholders: Edward Constantino                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                | DIRECTOR ELECTIONS           |        1444014 |                0 | FOR         |                                  1444014 | FOR                         |  |
| NEXPOINT FUNDS                     | 65340G205 | 06/10/2025     | Election of Trustee to serve until the 2026 annual Meeting of shareholders: Scott Kavanaugh                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                   | DIRECTOR ELECTIONS           |        1444014 |                0 | FOR         |                                  1444014 | FOR                         |  |
| NEXPOINT FUNDS                     | 65340G205 | 06/10/2025     | Election of Trustee to serve until the 2026 annual Meeting of shareholders: Arthur Laffer                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                     | DIRECTOR ELECTIONS           |        1444014 |                0 | FOR         |                                  1444014 | FOR                         |  |
| NEXPOINT FUNDS                     | 65340G205 | 06/10/2025     | Election of Trustee to serve until the 2026 annual Meeting of shareholders: Carol Swain                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                       | DIRECTOR ELECTIONS           |        1444014 |                0 | FOR         |                                  1444014 | FOR                         |  |
| NEXPOINT FUNDS                     | 65340G205 | 06/10/2025     | Election of Trustee to serve until the 2026 annual Meeting of shareholders: Catherine Wood                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                    | DIRECTOR ELECTIONS           |        1444014 |                0 | FOR         |                                  1444014 | FOR                         |  |
| NEXPOINT FUNDS                     | 65340G205 | 06/10/2025     | To approve, on an advisory basis, the compensation of our named executive officers.                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                           | SECTION 14A SAY-ON-PAY VOTES |        1444014 |                0 | FOR         |                                  1444014 | FOR                         |  |
| NEXPOINT FUNDS                     | 65340G205 | 06/10/2025     | To approve the conversion of the Company from a Delaware statutory trust into a Maryland corporation named NexPoint Diversified Real Estate Trust, Inc. ("New NXDT") and to approve the adoption of a plan of conversion, articles of incorporation and bylaws of New NXDT associated with such conversion.                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                   | CAPITAL STRUCTURE            |        1444014 |                0 | FOR         |                                  1444014 | FOR                         |  |
| NEXPOINT FUNDS                     | 65340G205 | 06/10/2025     | To approve the Amended and Restated NexPoint Diversified Real Estate Trust 2023 Long Term Incentive Plan.                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                     | COMPENSATION                 |        1444014 |                0 | FOR         |                                  1444014 | FOR                         |  |
| NEXPOINT FUNDS                     | 65340G205 | 06/10/2025     | To approve the issuance of common shares to the Company's adviser as payment of fees under the advisory agreement which may exceed five percent of the common equity or the voting power of the Company prior to the initial issuance.                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                        | CAPITAL STRUCTURE            |        1444014 |                0 | FOR         |                                  1444014 | FOR                         |  |
| NEXPOINT FUNDS                     | 65340G205 | 06/10/2025     | To ratify the appointment of KPMG LLP as our independent registered public accounting firm for 2025.                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                          | AUDIT-RELATED                |        1444014 |                0 | FOR         |                                  1444014 | FOR                         |  |
| NEXPOINT REAL ESTATE FINANCE, INC. | 65342V101 | 05/20/2025     | Election of Director to serve until the 2026 annual meeting of stockholders: James Dondero                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                    | DIRECTOR ELECTIONS           |        4372285 |                0 | FOR         |                                  4354655 | FOR                         |  |
| NEXPOINT REAL ESTATE FINANCE, INC. | 65342V101 | 05/20/2025     | Election of Director to serve until the 2026 annual meeting of stockholders: Brian Mitts                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                      | DIRECTOR ELECTIONS           |        4372285 |                0 | FOR         |                                  4372285 | FOR                         |  |
| NEXPOINT REAL ESTATE FINANCE, INC. | 65342V101 | 05/20/2025     | Election of Director to serve until the 2026 annual meeting of stockholders: Edward Constantino                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                               | DIRECTOR ELECTIONS           |        4372285 |                0 | FOR         |                                  4372285 | FOR                         |  |
| NEXPOINT REAL ESTATE FINANCE, INC. | 65342V101 | 05/20/2025     | Election of Director to serve until the 2026 annual meeting of stockholders: Scott Kavanaugh                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                  | DIRECTOR ELECTIONS           |        4372285 |                0 | FOR         |                                  4372285 | FOR                         |  |
| NEXPOINT REAL ESTATE FINANCE, INC. | 65342V101 | 05/20/2025     | Election of Director to serve until the 2026 annual meeting of stockholders: Arthur Laffer                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                    | DIRECTOR ELECTIONS           |        4372285 |                0 | FOR         |                                  4372285 | FOR                         |  |
| NEXPOINT REAL ESTATE FINANCE, INC. | 65342V101 | 05/20/2025     | Election of Director to serve until the 2026 annual meeting of stockholders: Carol Swain                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                      | DIRECTOR ELECTIONS           |        4372285 |                0 | FOR         |                                  4372285 | FOR                         |  |
| NEXPOINT REAL ESTATE FINANCE, INC. | 65342V101 | 05/20/2025     | Election of Director to serve until the 2026 annual meeting of stockholders: Catherine Wood                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                   | DIRECTOR ELECTIONS           |        4372285 |                0 | FOR         |                                  4372285 | FOR                         |  |
| NEXPOINT REAL ESTATE FINANCE, INC. | 65342V101 | 05/20/2025     | To ratify the appointment of KPMG LLP as the Company's independent registered public accounting firm for 2025.                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                | AUDIT-RELATED                |        4372285 |                0 | FOR         |                                  4372285 | FOR                         |  |
| NEXPOINT RESIDENTIAL TRUST, INC.   | 65341D102 | 05/20/2025     | Election of Director to serve until the 2026 Annual Meeting of stockholders: James Dondero                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                    | DIRECTOR ELECTIONS           |         204648 |                0 | FOR         |                                   204648 | FOR                         |  |
| NEXPOINT RESIDENTIAL TRUST, INC.   | 65341D102 | 05/20/2025     | Election of Director to serve until the 2026 Annual Meeting of stockholders: Brian Mitts                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                      | DIRECTOR ELECTIONS           |         204648 |                0 | FOR         |                                   204648 | FOR                         |  |
| NEXPOINT RESIDENTIAL TRUST, INC.   | 65341D102 | 05/20/2025     | Election of Director to serve until the 2026 Annual Meeting of stockholders: Edward Constantino                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                               | DIRECTOR ELECTIONS           |         204648 |                0 | FOR         |                                   204648 | FOR                         |  |
| NEXPOINT RESIDENTIAL TRUST, INC.   | 65341D102 | 05/20/2025     | Election of Director to serve until the 2026 Annual Meeting of stockholders: Scott Kavanaugh                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                  | DIRECTOR ELECTIONS           |         204648 |                0 | FOR         |                                   204648 | FOR                         |  |
| NEXPOINT RESIDENTIAL TRUST, INC.   | 65341D102 | 05/20/2025     | Election of Director to serve until the 2026 Annual Meeting of stockholders: Arthur Laffer                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                    | DIRECTOR ELECTIONS           |         204648 |                0 | FOR         |                                   204648 | FOR                         |  |
| NEXPOINT RESIDENTIAL TRUST, INC.   | 65341D102 | 05/20/2025     | Election of Director to serve until the 2026 Annual Meeting of stockholders: Carol Swain                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                      | DIRECTOR ELECTIONS           |         204648 |                0 | FOR         |                                   204648 | FOR                         |  |
| NEXPOINT RESIDENTIAL TRUST, INC.   | 65341D102 | 05/20/2025     | Election of Director to serve until the 2026 Annual Meeting of stockholders: Catherine Wood                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                   | DIRECTOR ELECTIONS           |         204648 |                0 | FOR         |                                   204648 | FOR                         |  |
| NEXPOINT RESIDENTIAL TRUST, INC.   | 65341D102 | 05/20/2025     | To approve, on an advisory basis, the compensation of our named executive officers.                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                           | SECTION 14A SAY-ON-PAY VOTES |         204648 |                0 | FOR         |                                   204648 | FOR                         |  |
| NEXPOINT RESIDENTIAL TRUST, INC.   | 65341D102 | 05/20/2025     | To approve the NexPoint Residential Trust, Inc. 2025 Long Term Incentive Plan.                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                | COMPENSATION                 |         204648 |                0 | FOR         |                                   204648 | FOR                         |  |
| NEXPOINT RESIDENTIAL TRUST, INC.   | 65341D102 | 05/20/2025     | To ratify the appointment of KPMG LLP as the Company's independent registered public accounting firm for 2025.                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                | AUDIT-RELATED                |         204648 |                0 | FOR         |                                   204648 | FOR                         |  |
| TALOS ENERGY INC.                  | 87484T108 | 05/29/2025     | Election of Director to hold office for a one-year term until the next annual meeting of stockholders: Neal P. Goldman                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                        | DIRECTOR ELECTIONS           |        1010612 |                0 | FOR         |                                  1010612 | FOR                         |  |
| TALOS ENERGY INC.                  | 87484T108 | 05/29/2025     | Election of Director to hold office for a one-year term until the next annual meeting of stockholders: Paul R. Goodfellow                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                     | DIRECTOR ELECTIONS           |        1010612 |                0 | FOR         |                                  1010612 | FOR                         |  |
| TALOS ENERGY INC.                  | 87484T108 | 05/29/2025     | Election of Director to hold office for a one-year term until the next annual meeting of stockholders: Paula R. Glover                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                        | DIRECTOR ELECTIONS           |        1010612 |                0 | FOR         |                                  1010612 | FOR                         |  |
| TALOS ENERGY INC.                  | 87484T108 | 05/29/2025     | Election of Director to hold office for a one-year term until the next annual meeting of stockholders: John B. Juneau                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                         | DIRECTOR ELECTIONS           |        1010612 |                0 | FOR         |                                  1010612 | FOR                         |  |
| TALOS ENERGY INC.                  | 87484T108 | 05/29/2025     | Election of Director to hold office for a one-year term until the next annual meeting of stockholders: Richard M. Sherrill                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                    | DIRECTOR ELECTIONS           |        1010612 |                0 | FOR         |                                  1010612 | FOR                         |  |
| TALOS ENERGY INC.                  | 87484T108 | 05/29/2025     | Election of Director to hold office for a one-year term until the next annual meeting of stockholders: Charles M. Sledge                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                      | DIRECTOR ELECTIONS           |        1010612 |                0 | FOR         |                                  1010612 | FOR                         |  |
| TALOS ENERGY INC.                  | 87484T108 | 05/29/2025     | Election of Director to hold office for a one-year term until the next annual meeting of stockholders: Shandell M. Szabo                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                      | DIRECTOR ELECTIONS           |        1010612 |                0 | FOR         |                                  1010612 | FOR                         |  |
| TALOS ENERGY INC.                  | 87484T108 | 05/29/2025     | To approve, on a non-binding advisory basis, the Company's Named Executive Officers' compensation for the fiscal year ended December 31, 2024.                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                | SECTION 14A SAY-ON-PAY VOTES |        1010612 |                0 | FOR         |                                  1010612 | FOR                         |  |
| TALOS ENERGY INC.                  | 87484T108 | 05/29/2025     | To approve, on a non-binding advisory basis, the frequency of future advisory votes on the Company's Named Executive Officers' compensation for every one year, every two years or every three years or stockholders may abstain from voting.                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                 | SECTION 14A SAY-ON-PAY VOTES |        1010612 |                0 | 1 YEAR      |                                  1010612 | FOR                         |  |
| TALOS ENERGY INC.                  | 87484T108 | 05/29/2025     | To ratify the appointment of Ernst  Young LLP as the Company's independent registered public accounting firm for the fiscal year ending December 31, 2025.                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                    | AUDIT-RELATED                |        1010612 |                0 | FOR         |                                  1010612 | FOR                         |  |
| TELESAT CORPORATION                | 879512309 | 06/17/2025     | DIRECTOR: Michael Boychuk                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                     | DIRECTOR ELECTIONS; OTHER    |         194300 |                0 | ABSTAIN     |                                   194300 | AGAINST                     |  |
| TELESAT CORPORATION                | 879512309 | 06/17/2025     | DIRECTOR: Janet Yeung                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                         | DIRECTOR ELECTIONS; OTHER    |         194300 |                0 | ABSTAIN     |                                   194300 | AGAINST                     |  |
| TELESAT CORPORATION                | 879512309 | 06/17/2025     | DIRECTOR: Jane Craighead                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                      | DIRECTOR ELECTIONS; OTHER    |         194300 |                0 | ABSTAIN     |                                   194300 | AGAINST                     |  |
| TELESAT CORPORATION                | 879512309 | 06/17/2025     | DIRECTOR: Richard Fadden                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                      | DIRECTOR ELECTIONS; OTHER    |         194300 |                0 | ABSTAIN     |                                   194300 | AGAINST                     |  |
| TELESAT CORPORATION                | 879512309 | 06/17/2025     | DIRECTOR: Daniel S. Goldberg                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                  | DIRECTOR ELECTIONS; OTHER    |         194300 |                0 | ABSTAIN     |                                   194300 | AGAINST                     |  |
| TELESAT CORPORATION                | 879512309 | 06/17/2025     | DIRECTOR: Henry (Hank) Intven                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                 | DIRECTOR ELECTIONS; OTHER    |         194300 |                0 | ABSTAIN     |                                   194300 | AGAINST                     |  |
| TELESAT CORPORATION                | 879512309 | 06/17/2025     | DIRECTOR: David Morin                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                         | DIRECTOR ELECTIONS; OTHER    |         194300 |                0 | ABSTAIN     |                                   194300 | AGAINST                     |  |
| TELESAT CORPORATION                | 879512309 | 06/17/2025     | DIRECTOR: Dr. Mark H. Rachesky                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                | DIRECTOR ELECTIONS; OTHER    |         194300 |                0 | ABSTAIN     |                                   194300 | AGAINST                     |  |
| TELESAT CORPORATION                | 879512309 | 06/17/2025     | DIRECTOR: Guthrie Stewart                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                     | DIRECTOR ELECTIONS; OTHER    |         194300 |                0 | ABSTAIN     |                                   194300 | AGAINST                     |  |
| TELESAT CORPORATION                | 879512309 | 06/17/2025     | DIRECTOR: Michael B. Targoff                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                  | DIRECTOR ELECTIONS; OTHER    |         194300 |                0 | ABSTAIN     |                                   194300 | AGAINST                     |  |
| TELESAT CORPORATION                | 879512309 | 06/17/2025     | Appointment of Deloitte LLP Chartered Professional Accountants as Auditors of the Corporation for the ensuing year and authorizing the Directors to fix their remuneration.                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                   | AUDIT-RELATED                |         194300 |                0 | FOR         |                                   194300 | FOR                         |  |
| TELESAT CORPORATION                | 879512309 | 06/17/2025     | Pursuant to the Articles of Telesat Corporation and formation documents of Telesat Partnership LP, the Class A Common Shares of Telesat Corporation and the Class A Units of Telesat Partnership LP, as applicable, may only be beneficially owned or controlled, directly or indirectly, by Canadians (as defined in the Investment Canada Act and as set forth below). The undersigned certifies that it has made reasonable inquiries as to the Canadian status of the registered holder and the beneficial owner of the shares represented by this voting instruction form and has read the definitions set out below so as to make an accurate Declaration of Canadian status. The undersigned hereby certifies that the shares or units represented by this voting instruction form are (check one box based on the definitions set out below): NOTE: "FOR" = CANADIAN, "AGAINST" = NON-CANADIAN HOLDER | OTHER                        |         194300 |                0 | AGAINST     |                                   194300 | FOR                         |  |

## N-PX: Signature Block

**Reporting Person:** Highland Opportunities  Income Fund

**By (Signature):** Stephanie Vitiello

**By (Printed Signature):** Stephanie Vitiello

**By (Title):** Secretary and CCO

**Date:** 08/18/2025