Variant Alternative Income Fund announced a quarterly repurchase offer for up to 5% of outstanding shares ending September 15, 2026 at net asset value. Shareholders must submit requests by 4:00 p.m. Eastern Time that day.

Variant Alternative Income Fund provided its annual proxy voting notice report for calendar year 2026, listing zero series and no explanatory information.

Variant Alternative Income Fund reported $335 million of securities sold and $544 million redeemed or repurchased for the fiscal year ended April 30, 2026, resulting in $0 net sales and no registration fee due.

Variant Alternative Income Fund will repurchase up to 5% of its issued and outstanding shares for cash at NAV, with the offer period running from May 22, 2026 to June 15, 2026. Shareholders may submit requests by 4:00 p.m. Eastern Time on June 15, 2026, and proceeds are expected within seven calendar days after the pricing date.

Lisa Zhu resigned as Chief Compliance Officer of Variant Alternative Income Fund’s Adviser, effective May 15, 2026, and the Adviser accepted her resignation the same day.

Variant Alternative Income Fund's Investment Adviser CCO, Michael Richard Holman, reported beneficial ownership information covering 1 security as of 2026-05-15.

Variant Alternative Income Fund updated its Prospectus and SAI to expand conflict-of-interest disclosures about the Investment Manager’s separate loan transaction business and allocation of investment opportunities. The revisions state the Fund may not receive all opportunities and will not be compensated for opportunities taken by the Investment Manager or others.

Variant Alternative Income Fund renewed a joint fidelity bond effective December 31, 2025 to December 31, 2026 with $2.5 million coverage and a $250,000 electronic mail transfer fraud sub-limit. The bond extends coverage to additional affiliated funds and automatically adjusts limits for new Investment Companies or asset growth to maintain Rule 17g-1 compliance.

Variant Alternative Income Fund will change its distribution policy effective April 1, 2026, increasing distribution frequency from quarterly to monthly. The Prospectus is being amended to reflect the new monthly distribution schedule.

Variant Alternative Income Fund will repurchase up to 5% of its outstanding shares for cash at NAV, with the offer period running from February 20, 2026 through March 13, 2026. Shareholders may tender shares by the deadline, with proceeds paid within seven calendar days after the pricing date.