#United States #New York #Cohen & Steers #Realty Fund #RFI

Overview of Cohen & Steers Total Return Realty Fund, Inc.

Cohen & Steers Total Return Realty Fund, Inc. (NYSE: RFI) has recently issued important information concerning its distribution plans for shareholders. This press release informs shareholders about the sources of the upcoming distributions, scheduled to be paid on August 29, 2025, and summarizes the cumulative distributions made so far in this fiscal year.

Since December 2011, the Fund has adhered to a managed distribution policy, which operates in accordance with the exemptive relief provided by the Securities and Exchange Commission (SEC). The primary goal of this policy is to provide a consistent monthly return to investors, showcasing the Fund's potential for long-term total return through regular payouts set at a fixed rate per common share.

Importance of the Managed Distribution Policy

The managed distribution policy not only allows the Fund to distribute gains to shareholders in a timely manner, but also offers the flexibility to realize long-term capital gains throughout the year. The Board of Directors retains the authority to amend, terminate, or suspend this policy whenever deemed necessary, a factor that could potentially impact the market price of the Fund's shares.

Types of Distributions

The monthly distributions provided by the Fund can consist of different components:

• - Long-term capital gains
• - Short-term capital gains
• - Net investment income
• - Return of capital

These various components, particularly the return of capital, represent distributions exceeding the Fund's net investment income and realized capital gains. Importantly, a return of capital is not classed as taxable income, instead functioning to reduce a shareholder's tax basis in their shares until those shares are sold.

Distributions originating from the Fund's investments in real estate investment trusts (REITs) may also be identified as capital gains, contingent upon the nature of the dividends reported to the Fund post-year-end by these REITs. The amounts for monthly distributions may fluctuate depending on several factors, including market changes and the composition of the Fund's portfolio.

Communication of Distribution Information

For each monthly distribution, shareholders will find detailed information posted on the Fund's website, cohenandsteers.com, alongside a notice that is mailed to them. However, the specifics of these distributions can alter as the year concludes; this is due to the uncertainty surrounding the final tax characteristics that can only be determined after the end of the calendar year. Shareholders can expect to receive Form 1099-DIV via mail after the close of the calendar year, outlining the final tax characteristics of the distributions.

Distribution Estimates for August 2025

The press release summarizes estimated amounts from various sources for the current distribution as well as cumulative distributions throughout the fiscal year to date, calculated on a per-common-share basis:

Shareholders are advised against making conclusions regarding the Fund's performance solely based on the distribution amounts or its managed distribution policy conditions.

Performance Metrics

The report also elucidates the Fund's Year-to-Date Cumulative Total Return for fiscal year 2025 (from January 1, 2025, to July 31, 2025) as well as expected annual returns:

• - Year-to-Date Cumulative Total Return: 3.45%
• - Cumulative Distribution Rate: 5.58%

Additionally, shareholders are provided with average annual total return figures for a five-year period ending July 31, 2025, allowing them to compare these outcomes against the Fund's current annualized distribution rate for the same year.

Conclusion and Caution for Investors

Investors should carefully evaluate the investment objectives, risks, charges, and expenses of the Fund before embarking on any investment decisions. For the latest periodic reports and other regulatory filings, they should consult their financial advisors or visit cohenandsteers.com. The reports will also detail how to report distributions for federal income tax purposes via the Form 1099-DIV.

Cohen & Steers, established in 1986, operates as a leading global investment manager, focusing on real assets and alternative income, which includes private and listed real estate, preferred securities, commodities, and multi-strategy solutions. Headquartered in New York City, the firm maintains additional offices in major cities globally, including London, Dublin, Hong Kong, Tokyo, and Singapore.

Lastly, readers are reminded that the information presented here is intended solely for informative purposes and should not be utilized for tax preparations. Shareholders will again find guidance in the Form 1099-DIV regarding the appropriate reporting of Fund distributions.