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Overview of Cohen and Steers Closed-End Opportunity Fund

The Cohen & Steers Closed-End Opportunity Fund, Inc. (NYSE: FOF) has shared important updates with its shareholders regarding the sources of distributions set to be paid on January 30, 2026. This notice serves as a key resource for investors keen on comprehending the financial mechanics behind the Fund's performance and distribution policy.

Distribution Policy Implementation

In December 2021, the Fund implemented a managed distribution policy. This decision was made in response to exemptive relief granted by the Securities and Exchange Commission (SEC), aiming to streamline how distributions are delivered to shareholders. The primary focus of this initiative is to enhance the long-term total return potential of the Fund by providing regular monthly distributions at a fixed rate per common share. By following this strategy, the Fund can realize long-term capital gains year-round and distribute them systematically to investors.

The Board of Directors retains the ability to amend, terminate, or suspend this distribution policy at any time. Such modifications could negatively impact the market price of the Fund's shares, making it essential for investors to stay informed about these changes.

Breakdown of Monthly Distributions

For the distribution scheduled in January, the payments are expected to encompass long-term and short-term capital gains as well as net investment income. Notably, the distribution might also reflect returns of capital for federal tax purposes. Specifically, returns of capital represent payouts made by the Fund exceeding its net investment income and realized capital gains.

It is essential for shareholders to understand that these returns reduce their tax basis in the shares they hold in the Fund, and such distributions are not taxable upon receipt. The amount of monthly distributions may fluctuate based on various factors, including portfolio changes and market conditions.

Reporting and Tax Implications

Each monthly distribution will be communicated to shareholders through information posted on the Fund’s website and via direct mail notifications. However, it is pivotal to note that the final tax characteristics of distributions are often only determined after the calendar year concludes. Investors will receive Form 1099-DIV, which outlines the correct reporting structure for taxes based on the characteristics of their distribution for the entire year.

Current and Year-to-Date Distribution Estimates

According to recent estimations for the current distribution scheduled for January 2026:

• - Net Investment Income: $0.0000
• - Net Realized Short-Term Capital Gains: $0.0000
• - Net Realized Long-Term Capital Gains: $0.0870
• - Return of Capital: $0.0000

This translates to a total current distribution amount of $0.0870 per common share, all sourced from long-term capital gains. Year-to-date figures reflect the same distribution amount and sources.

Performance Metrics

While evaluating the Fund, shareholders should be aware of the Year-to-Date Cumulative Total Return from January 1, 2025 to December 31, 2025, which stands at 19.88%. Additionally, the Five-Year Average Annual Total Return is reported at 9.75%, indicating a solid performance trajectory.

The relationship between these performance metrics and the Fund's cumulative distribution rate highlights how the current market value influences investor returns. The net asset value (NAV) was calculated based on total securities and assets less liabilities, reflecting the true worth of each share over time. Although the NAV is a crucial indicator of the Fund's potential growth, the actual market price of shares is driven by supply and demand in the marketplace.

Conclusion and Investor Considerations

As investors deliberate on joining or expanding their investment in the Cohen & Steers Closed-End Opportunity Fund, it's vital to consider their individual investment objectives, risks, and fees associated with the Fund. Understanding these dynamics can lead to better-informed decisions aligning with personal financial strategies.

Cohen & Steers emphasizes the importance of reviewing the latest periodic reports and regulatory filings available through financial advisors or via their website. Such diligence ensures that investors remain well-informed and able to navigate their investment journey proficiently, particularly regarding tax implications and distributions.

For more detailed inquiries regarding the Fund, kindly refer to the company’s official website or consult your financial advisor.