Bluerock High Income Institutional Credit Fund (the “Fund” or the “High Income Fund” tickers: IIMAX, IIMCX, IIMWX) announced that for the first quarter of 2025, the Fund paid its eleventh consecutive quarterly distribution, generating an 11.7% annualized rate over the trailing 12 months.1 Shareholders invested for the entire quarter will receive a total distribution amount of approximately $0.53 per share. The Fund’s 14 total distributions since inception on 6.21.2022 total approximately $7.66/share.

The Fund has continued to strategically diversify its portfolio in 2025, investing in more senior positions within the CLO capital structure, effectively reducing potential risk while simultaneously delivering compelling yield generation, strengthening the risk-adjusted return profile of the Fund.

“The Fund is identifying compelling opportunities in CLO debt, where strong yield generation is supported by payment of priority in the capital stack providing downside protection. The Fund to continues to deliver on its investment objectives of generating high income, attractive total returns, and maintaining low correlation2 to broader markets as evidenced by the 13.7% net return to the Fund’s shareholders in 2024, driven by the Fund’s underlying exposure to senior secured loans, which are the most senior position in corporate capital structures,” said Jeffrey Schwaber, CEO of Bluerock Capital Markets.

The Fund currently maintains underlying positions in 91 collateralized loan obligations representing approximately $37.7 billion in aggregate underlying loan value with exposure to over 2,250 underlying senior secured loans across multiple diverse industries (underlying holdings as of 12.31.2024 and are subject to change at any time and should not be considered investment advice). Net assets under management for the High Income Fund are approximately $184 million as of March 31, 2025.

About Bluerock High Income Institutional Credit Fund

The Bluerock High Income Institutional Credit Fund (the “Fund”) is a public, closed-end interval fund that provides individual investors access to a rapidly growing institutional asset class. The Fund’s primary investment objective is to generate high current income, while secondarily seeking attractive, long-term risk-adjusted returns, with low correlation to the broader markets. The Fund seeks to accomplish its objectives by investing, directly and indirectly, in private credit through actively managed pools of diversified Senior Secured Loans known as Collateralized Loan Obligations (CLOs). The Fund has partnered with WhiteStar Asset Management, LLC, whose management team has overseen the issuance of $40 billion in CLOs since 2001, to serve as sub-advisor to the Fund. An investment in the Fund seeks to provide investors with the following potential benefits across various market cycles. The minimum investment in the Fund is $2,500 ($1,000 for retirement plans) for Class A and C shares. For copies of the Fund’s public company filings, please visit the U.S. Securities and Exchange Commission’s website at sec.gov or the Company’s website at bluerockfunds.com.

Risk Disclosures

Not FDIC Insured | No Bank Guarantee | May Lose Value

Investing in the Fund involves risks, including the risk that you may receive little or no return on your investment, and that you may lose part or all of your investment. This is neither an offer to sell nor a solicitation to purchase any security.

Investors should carefully consider the investment objectives, risks, sales charges and expenses of the Bluerock High Income Institutional Credit Fund (the “Fund”). This and other important information about the Fund is contained in the prospectus, which can be obtained by visiting bluerock.com/hi-fund/documents. The prospectus should be read carefully before investing.

Past performance is not a guarantee of future results. The ability of the Fund to achieve its investment objective depends, in part, on the ability of the Advisor and Sub-Advisor to allocate effectively the assets of the Fund among the various available investment opportunities. There can be no assurance that the actual allocations will be effective in achieving the Fund’s investment objective or delivering positive returns. There is no guarantee that the Fund’s investment strategies will work under all market conditions. Statements relating to the performance of the Fund contained herein are historical and the Fund’s performance subsequent to the date as of which such statements were made may differ materially. Updated performance data for the Fund is available at bluerockfunds.com/hi-fund/performance.

Please note that the performance data relating to various indices included herein is for informational purposes only. You cannot invest directly in an index. Index performance does not represent actual fund or portfolio performance. Performance of a fund or portfolio may differ significantly from the performance of index holding the same securities. Index performance assumes reinvestment of dividends but does not reflect any management fees, transaction costs or other expenses that would be incurred by a fund or portfolio, or brokerage commissions on transactions in fund shares. Such fees, expenses, and commissions would likely reduce returns.

The Fund is a closed-end interval fund, the shares have no history of public trading, nor is it intended that the shares will be listed on a public exchange at this time. No secondary market is expected to develop for the Fund’s shares. Limited liquidity is provided to shareholders only through the Fund’s quarterly repurchase offers for no less than 5% of the Fund’s shares outstanding at net asset value. There is no guarantee that shareholders will be able to sell all of the shares they desire in a quarterly repurchase offer. Quarterly repurchases by the Fund of its shares typically will be funded from available cash or sales of portfolio securities. The sale of securities to fund repurchases could reduce the market price of those securities, which in turn would reduce the Fund’s net asset value. The Fund is suitable only for investors who can bear the risks associated with the limited liquidity of the Fund and should be viewed as a long-term investment.

Investors in the Fund should understand that the net asset value (“NAV”) of the Fund will fluctuate, which means the value of your shares at any point in time may be worth less than the value of your original investment, even after taking into account any reinvestment of dividends and distributions. An investment in shares represents an indirect investment in the securities owned by the Fund. The value of these securities, like other market investments, may move up or down, sometimes rapidly and unpredictably. The Fund is “non-diversified” under the Investment Company Act of 1940 and therefore may invest more than 5% of its total assets in the securities of one or more issuers. As such, changes in the financial condition or market value of a single issuer may cause a greater fluctuation in the Fund’s net asset value than in a “diversified” fund. The Fund is not intended to be a complete investment program.

Because the Fund invests primarily in debt-anchored instruments and securities, the value of your investment in the Fund may fluctuate with changes in interest rates. The Fund may invest in senior secured debt and CLOs. Substantial increases in interest rates may cause an increase in loan defaults and the value of the Fund’s assets may also be affected by other uncertainties such as economic developments affecting the market for senior secured term loans or uncertainties affecting borrowers generally. There is a risk that the borrowers under the Senior Secured Loans may not make scheduled interest and/or principal payments on their loans and/or debt securities, which may result in losses or reduced cash flow to the Fund, either or both of which may cause the NAV of, or the distributions by, the Fund to decrease. CLOs carry additional risks, including but not limited to (i) the possibility that the Fund’s investments in CLOs are subordinate to other classes or tranches thereof; and (iv) the complex structure of the CLO investment may not be fully understood at the time of investment and may produce disputes with the issuer, holders of senior tranches or other unexpected investment results. In addition, the nature of the Fund’s investment strategy also subjects it to various risks, including credit risk (the debtor may default), liquidity risk (the investment may not be able to be sold at an advantageous time or price) and prepayment risk (the debtor may pay its obligation early, reducing the amount of interest payments). All potential investors should read the Risk Factors section of the prospectus for additional information related to the risks associated with an investment in the Fund.

The Bluerock High Income Institutional Credit Fund is distributed by ALPS Distributors, Inc (ALPS). Bluerock Credit Fund Advisor, LLC is not affiliated with ALPS, or WhiteStar Asset Management. This material is provided for informational purposes only and should not be considered as investment advice or a recommendation of any particular security, strategy or investment product or be relied upon for any other purpose. Certain information contained herein has been obtained from sources deemed to be reliable, but has not been independently verified. This material represents views as of its date and is subject to change without notice of any kind.

For more information, contact Bluerock Capital Markets at 877.826.BLUE (2583).

Collateralized Loan Obligations (CLOs): A form of securitization where payments from multiple business loans (most typically senior secured corporate loans) are pooled together and passed on to different classes of owners in various tranches.

Correlation: This indicates the strength and direction of a linear relationship between two random variables. The value will range between -1 and 1.

Senior Secured Loans (SSLs): Debt obligations issued by corporations that are typically backed (“secured”) by a company’s assets. SSLs sit at the top of the company’s capital structure and have the highest priority claim on the borrower’s assets.