X0306 4 2020-02-25 0 0001710680 HIGHLAND INCOME FUND\MA HFRO 0001606636 Froehlich Robert J 300 CRESCENT COURT, SUITE 700 DALLAS TX 75201 1 0 0 0 Common Stock 2020-02-25 4 P 0 130 12.889 A 515 I See Footnote Common Stock 2020-10-13 4 P 0 697 8.47 A 1212 I See Footnote Common Stock 2537 I See Footnote These shares are held by Mr. Froehlich through Mr. Froehlich's SEP IRA account. Total shares also reflect reinvested dividends. These shares are held by Mr. Froehlich through Mr. Froehlich's personal trust. Total shares also reflect reinvested dividends. /s/ Dr. Robert Froehlich 2020-10-16