Tax-Free Funds at Special Shareholders' Meeting Approve Shareholder Proceeds Distribution

Results from the Special Meeting of Tax-Free Funds

In a remarkable gathering held on September 26, 2025, in San Juan, Puerto Rico, the Tax Free Fund for Puerto Rico Residents, Inc. (TFF I), Puerto Rico Residents Tax-Free Fund, Inc. (PRRTFF I), and Puerto Rico Residents Tax-Free Fund VI, Inc. (PRRTFF VI) convened a Special Meeting of Shareholders via both in-person attendance and a live webcast. The primary focus of this important meeting was to vote on crucial proposals affecting the future of the Funds and their shareholders.

Approximately 67.26% of TFF I's shares, 65.83% of PRRTFF I's shares, and an impressive 68.29% of PRRTFF VI's shares were either present or represented by proxy at the meeting. This evoked a sense of strong engagement from shareholders, demonstrating their vested interest in the strategic direction of these investment entities.

The Boards of Directors for each Fund proposed significant changes, including ceasing operations as investment companies. Notably, the proposals received overwhelming support: 95.36% of TFF I shareholders voted in favor, along with 95.54% for PRRTFF I and a remarkable 98.38% for PRRTFF VI. This indicates a clear consensus among investors regarding the need for reformation within the Funds’ operational frameworks.

Furthering this sentiment, another pivotal proposal was to distribute dividends from the proceeds of a sale of the Funds' securities to shareholders. Again, the response was markedly affirmative, with 97.36% of TFF I, 95.45% of PRRTFF I, and 98.48% of PRRTFF VI shareholders endorsing the move. Such a response underscores not only trust in the leadership of the Funds but also a collective belief in the potential benefits that these changes will yield.

In light of these votes, the Boards expressed appreciation for the shareholder turnout, which is indicative of the strong support for the actions put forward during the meeting. The clear consensus displayed is expected to affect positively the operational strategies and contribute towards maximizing returns for the shareholders.

Secretary of the Funds, Ivelisse M. Ortiz Moreau, noted, "The remarkable turnout and decisive results reflect the commitment of our shareholders towards the future strategies of our Funds. We are excited about the possible outcomes following the approval of these essential proposals."

This meeting marks a significant milestone for the involved Funds, as the overwhelming vote reflects a shift toward a more shareholder-focused approach. Going forward, the Boards will be working diligently on winding down operations and facilitating a seamless transition to distributing proceeds, ensuring that shareholders receive dividends promptly and efficiently.

With strong shareholder backing and clear strategies set in motion, the Tax Free Funds are positioned to reposition effectively, meeting the evolving needs of their investors while enhancing shareholder value. Such decisive actions taken during the Special Meeting illustrate the continued commitment from both the management teams and shareholders as they navigate through this pivotal phase for the Funds.

In summary, these recent developments affirm the robust health and responsiveness of the Funds, paving the way for improved operational frameworks and enhanced shareholder experiences. The collaborative effort evident at the Special Meeting signals a promising path forward that aligns with the interests of all stakeholders involved.