Fund Description: PIMCO Dynamic Income Strategy Fund formerly PIMCO Energy & Tactical Credit Opportunities Fund, is an exchange-traded closed-end fund (CEF) or a closed-end ETF that is officially described as a non-diversified, limited term, closed-end management investment company. <p> INVESTMENT OBJECTIVE: The PIMCO Dynamic Income Strategy Fund seeks total return, with a secondary objective to seek to provide high current income. <p> FUND STRATEGY: The Fund seeks to achieve its investment objectives by focusing on investments linked to the energy sector and investments linked to the credit sectors. The Fund will invest, under normal circumstances, at least 80% of its net assets (plus any borrowings for investment purposes) in investments linked to the energy sector and in investments linked to the credit sectors. Under normal circumstances, the Fund will invest, directly or indirectly, at least 66% of its net assets in Energy Investments. The Fund also may invest in investment opportunities that are not Energy Investments or Credit Investments, including a broad range of equity securities and commodities, as deemed appropriate by the Fund manager, to seek to achieve the Fund’s investment objectives. Under normal circumstances, the Fund will not invest more than 20% of its net assets (plus any borrowings for investment purposes) in investments that are not Energy Investments or Credit Investments. The Fund intends to terminate on 01/29/2031, provided that the Board may, extend the Dissolution Date (see the prospectus for further information). <p> FUND MANAGEMENT: Pacific Investment Management Company LLC. serves as the Fund’s investment manager.