LOS ANGELES -- (Business Wire)

TCW Strategic Income Fund, Inc. (NYSE: TSI) (the “Fund”) announced today that the Board of Directors of the Fund (the “Board”) have approved the terms of the issuance of transferrable rights (“Rights”) to the Fund’s common stockholders (“Common Stockholders”) as of February 19, 2026 (the “Record Date”), allowing the holders of Rights to subscribe for new shares of common stock, par value $0.01 per share (“Common Stock”) of the Fund at a discount to market price (the “Offer”).

TCW Investment Management Company, LLC (“TIMCO”), the Fund’s investment adviser, has recommended the Offer to the Board, and the Board has determined that conducting the Offer is in the best interest of the Fund and its stockholders. The Offer will raise additional assets for the Fund, enabling the Fund to provide increased access to a diversified portfolio of high-yield public and private investments, including private asset-backed finance, private credit, and mezzanine-level collateralized loan obligations (“CLOs”), equity and credit tranches. This strategy aims to enhance income and total return, with the objective of benefiting all stockholders.

Current stockholders will receive one transferable Right per share of Common Stock held, with three Rights required to subscribe for one new share of Common Stock. Fractional Rights or shares of Common Stock will not be issued pursuant to the Offer, so stockholders holding fewer than three shares of Common Stock as of the Record Date will be entitled to subscribe for one full share of Common Stock. The Offer to purchase additional Common Stock will be made solely by means of a prospectus supplement and accompanying prospectus. This announcement is not an offer to sell or a solicitation of an offer to buy the Fund’s securities.

An increase in the Fund’s assets can create potential for increased liquidity and trading volume of the Fund’s shares of Common Stock and may also lower the Fund’s expense ratio in the future due to the nature of fixed operating costs spread across a larger asset base.

Summary of the Terms of the Rights Offering:

• Record Date: Stockholders on the Record Date as of February 19, 2026, will receive one transferable Right for each share of Common Stock held.
• Primary Subscription: Three (3) Rights will be required to purchase one (1) newly issued share of Common Stock. Any stockholder who owns fewer than three shares of Common Stock as of the Record Date may subscribe, at the subscription price per share of Common Stock to be issued in the Offer (the “Subscription Price”), for one full share of Common Stock in the Offer. The Fund will not issue fractional Rights or shares of Common Stock pursuant to the Offer.
• Subscription Price: The Subscription Price will be determined based on a formula equal to 92.5% of the average of the last reported sales price of a share of Common Stock of the Fund on the New York Stock Exchange (“NYSE”) on the expiration date of the Offer (the “Expiration Date”) and each of the four preceding trading days. If this formula price is less than 88% of the Fund’s net asset value (“NAV”) per share of Common Stock at the close of trading on the Expiration Date, the Subscription Price will be 88% of the Fund’s NAV per share of Common Stock at the close of trading on the NYSE on the Expiration Date.
• Oversubscription Privilege: Stockholders as of the Record Date who fully exercise all Rights initially issued to them will be permitted to subscribe for additional shares of Common Stock that were not subscribed for by other Stockholders as of the Record Date at the Subscription Price (the “over-subscription privilege”). Investors who are not stockholders as of the Record Date, but who otherwise acquire Rights, are not entitled to subscribe for any additional shares of Common Stock pursuant to the over-subscription privilege. Shares of Common Stock may only be acquired pursuant to the over-subscription privilege if there are unexercised Rights. If sufficient shares of Common Stock are not available to honor all over-subscription requests, unsubscribed shares of Common Stock will be allocated pro rata among those Stockholders as of the Record Date who over-subscribe based on the number of shares of Common Stock they owned on the Record Date.
• Trading: The Rights are expected to trade “when issued” on the NYSE beginning on February 18, 2026, and the Fund’s shares of Common Stock are expected to trade “ex-Rights” on the NYSE beginning on February 19, 2026. The Rights are expected to begin trading for normal settlement on the NYSE (NYSE: TSI RT) on or about February 25, 2026. It is expected that the last day of trading of the Rights will be March 17, 2026, and that trading of the Rights will be suspended effective before the NYSE opens on the Expiration Date, March 18, 2026.
• Transferability: The Rights will be transferable and are expected to trade on the NYSE under the symbol [“TSI RT”] during the course of the Offer.
• Expiration Date: The Offer is expected to expire at 5:00 p.m. Eastern Time on March 18, 2026, unless extended by the Fund.
• Settlement/Confirmation: Settlement is expected by March 25, 2026.

The Fund will pay expenses associated with the Offer, which will be borne indirectly by the Fund’s Common Stockholders.

The Fund reserves the right to modify, postpone, or cancel the Offer.

The definitive terms of the Offer will be made through a prospectus supplement and accompanying prospectus. The final terms of the Offer may be different from those set out above.

The Offer will be made pursuant to the Fund's currently effective shelf registration statement on file with the Securities and Exchange Commission ("SEC"), and by means of a prospectus supplement and accompanying prospectus. A final prospectus supplement relating to the Offer and accompanying prospectus will be filed with the SEC but has not been filed as of the date of this release. The Fund expects to mail subscription certificates evidencing the Rights and notice of the prospectus supplement and accompanying prospectus for the Offer to stockholders as of the Record Date within the United States shortly following the Record Date.

To exercise their Rights, stockholders who hold their shares of Common Stock through a broker, custodian, or trust company, should contact such entity to forward their instructions to either exercise or sell their Rights on their behalf. Stockholders who do not hold their shares of Common Stock through a broker, custodian, or trust company, should forward their instructions to either exercise or sell their Rights by completing the subscription certificate and delivering it to the subscription agent for the Offer, together with their payment, at one of the locations indicated on the subscription certificate or in the prospectus supplement.

The information in this press release is not complete and is subject to change. This document is not an offer to sell any securities and is not soliciting an offer to buy any securities in any jurisdiction where the offer or sale is not permitted. This document is not an offering, which can only be made by a prospectus supplement and accompanying prospectus. Investors should consider the Fund's investment objective, risks, charges, and expenses carefully before investing. There is no assurance that the Fund will achieve its investment objective. For further information regarding the Offer, or to obtain a prospectus supplement and accompanying prospectus, when available, please visit the website maintained by the SEC at www.sec.gov or contact the Fund's Information Agent, EQ Fund Solutions LLC:

(877) 283-0323

Declaration of March and April Distributions

The Fund has also announced its next two monthly distributions:

• The Fund has declared a March monthly distribution of $0.0217 per share payable on March 31, 2026, with respect to shares of Common Stock as of the record date of March 3, 2026. The March distribution will not be payable with respect to shares of Common Stock that are issued pursuant to the Offer after the March 3, 2026, record date for such distribution.

• The Fund has declared an April monthly distribution of $0.0283 per share payable on April 30, 2026, with respect to shares of Common Stock as of record on April 15, 2026, representing a 30.77% increase from the Fund’s March 2026 distribution. Based on the anticipated settlement date of the Offer, the April distribution will be payable with respect to shares of Common Stock that are issued pursuant to the Offer.

About TCW Strategic Income Fund, Inc.

TCW Strategic Income Fund, Inc. is a diversified, closed-end management investment company. The Fund’s investment objective is to seek a total return comprised of current income and capital appreciation. The Fund seeks to achieve its objective by investing in a diversified portfolio of fixed income and equity investments, including opportunities in private credit and asset-backed financings.

About The TCW Group

TCW is a leading global asset management firm with a broad range of products across fixed income, alternative investments, equities, and emerging markets with over half a century of investment experience. Through its TCW MetWest Funds, TCW Funds and ETFs, TCW manages one of the largest fund complexes in the U.S. TCW’s clients include many of the world’s largest corporate and public pension plans, financial institutions, endowments and foundations, as well as financial advisors and high net worth individuals. For more information, please visit www.tcw.com.

Closed-end funds are traded on the secondary market through one of the stock exchanges. The Fund's investment return and principal value will fluctuate so that an investor's shares of Common Stock may be worth more or less than the original cost. Shares of closed-end funds may trade above (a premium) or below (a discount) the NAV of such fund's portfolio. There is no assurance that the Fund will achieve its investment objective. Past performance does not guarantee future results.

The Fund will pay expenses associated with the Offer which will be borne indirectly by the Fund's stockholders.

The Fund reserves the right to modify, postpone or cancel the Offer.

Forward Looking Statements

Various matters discussed in this news release constitute forward-looking statements within the meaning of the federal securities laws. Actual results and the timing of certain events could differ materially from those projected or contemplated by these forward-looking statements due to a number of factors, including general economic conditions, overall availability of certain types of securities for investment by the Fund, the level of volatility in the securities markets and in the share price of the Fund, and other risk factors outlined in the Fund’s SEC Filings.

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Contacts:

Investor Contact:
Tel: 800-386-3829

TCW Media Contact:
Monique Le
Global Head of Marketing
Tel: +1 212-771-4260

Source: TCW Strategic Income Fund, Inc.