abrdn Income Credit Strategies Fund (ACP) Announces Change to Monthly Distribution Expected to Be Maintained for at Least the Next 12 Months

abrdn Income Credit Strategies Fund (NYSE: ACP ) (the "Fund") announced today that it has reduced its monthly distribution from $0.0775 to $0.055 per common share, beginning with the distribution payable September 30, 2026, to shareholders of record on September 22, 2026 (ex-dividend date: September 22, 2026). The revised distribution represents an annualized rate of approximately 12.5% of the Fund's net asset value as of September 10, 2026. The Fund intends to maintain this distribution level for at least the next 12 months unless there are significant and unforeseen changes in market conditions. The Fund's distribution policy is intended to provide investors with a stable monthly distribution consisting of current income, supplemented by realized capital gains and, to the extent necessary, paid-in capital. In recommending the revised distribution level, the Fund's investment adviser (the "Adviser") considered a range of factors, including current market conditions, expected return opportunities across the credit markets, portfolio earnings, and the broader economic outlook. While the Adviser remains optimistic on both the near-term and long-term prospects for the high yield market, it believes that shareholder distributions should be evaluated in the context of the return opportunities available in today's market environment. In approving the new distribution rate, the Board of Trustees (the "Board") considered a number of factors, including but not limited to, the Fund's investment objective and strategy and the Adviser's outlook for credit markets. It was determined that a lower distribution is appropriate because tighter credit spreads have moderated prospective total returns from the elevated levels available in prior years. Relative to broader credit markets, the Adviser remains optimistic regarding both the near-term and long-term prospects for the high yield asset class and believes that asset class continues to be supported by an attractive level of income generation and the potential for capital appreciation. The revised distribution aligns shareholder payments more closely with the current opportunity set while maintaining ACP's commitment to providing a differentiated level of income to shareholders. Even after the adjustment, the Fund is expected to offer a distribution rate that remains highly competitive relative to its peer group. The revised distribution provides the portfolio management team with greater flexibility to allocate capital based on the most attractive risk-adjusted opportunities available and to pursue investment decisions that are aligned with the long-term interests of shareholders. At the end of each calendar year, a Form 1099-DIV will be sent to shareholders, which will state the amount and composition of the Fund's distributions and provide information with respect to its appropriate tax treatment for the prior calendar year. The Fund's distribution policy is subject to modification by the Board at any time, and there can be no guarantee that the policy will continue. You should not draw any conclusions about the Fund's investment performance from the amount of the distributions.