Rivernorth/Doubleline Strategic Opportunity Fund Inc.

09/04/2026 | Press release | Distributed by Public on 09/04/2026 11:32

Annual Report by Investment Company (Form N-CSR)

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

FORM N-CSR

CERTIFIED SHAREHOLDER REPORT OF REGISTERED

MANAGEMENT INVESTMENT COMPANIES

811-23166

(Investment Company Act File Number)

RiverNorth/DoubleLine Strategic Opportunity Fund, Inc.

(Exact Name of Registrant as Specified in Charter)

360 South Rosemary Avenue, Suite 1420

West Palm Beach, FL 33401

(Address of Principal Executive Offices)

Marcus L. Collins, Esq.

RiverNorth Capital Management, LLC

360 South Rosemary Avenue, Suite 1420

West Palm Beach, FL 33401

(Name and Address of Agent for Service)

(561) 484-7185

(Registrant's Telephone Number)

Date of Fiscal Year End: June 30

Date of Reporting Period: June 30, 2026

Item 1. Reports to Stockholders.
(a)
RiverNorth/DoubleLine Strategic Opportunity Fund, Inc.

Table of Contents

Shareholder Letter 2
Performance Overview 4
Summary Schedule of Investments 9
Statement of Assets and Liabilities 31
Statement of Operations 33
Statements of Changes in Net Assets 34
Statement of Cash Flows 35
Financial Highlights 38
Notes to Financial Statements 41
Report of Independent Registered Public Accounting Firm 58
Dividend Reinvestment Plan 59
Summary of Updated Information Regarding the Fund 61
Directors and Officers 96
Additional Information 99

RiverNorth/DoubleLine Strategic Opportunity Fund, Inc.

Shareholder Letter June 30, 2026 (Unaudited)

Dear Fellow Shareholders,

The fiscal year ended June 30, 2026 (the "Fiscal Year"), was marked by continued uncertainty surrounding interest rates, economic growth, and investor sentiment across income-oriented asset classes. While fixed income markets generally benefited from expectations for monetary policy easing, volatility remained elevated at times as investors reassessed the timing and magnitude of future interest rate changes. Against this backdrop, credit fundamentals remained broadly supportive and many income-producing assets continued to offer attractive yields relative to recent history. Closed-end fund ("CEF") discounts generally remained below longer-term averages, although opportunities varied significantly across sectors and individual funds.

The Fund's multi-strategy approach seeks to combine diversified income generation with tactical flexibility. During the reporting period, we continued to reposition portions of the RiverNorth-managed sleeve in response to changing opportunity sets. As valuation opportunities within certain CEF and investment company debt holdings became less compelling, we largely reduced those exposures and increased allocations to Square-originated small business loans, which we believed offered attractive risk-adjusted income potential.

Within the DoubleLine-managed Opportunistic Income Strategy, portfolio positioning remained focused on securitized credit markets, including non-agency mortgage-backed securities ("MBS"), agency MBS, and commercial mortgage-backed securities ("CMBS"). We believe these sectors continued to offer attractive relative value opportunities and remained important contributors to the Fund's diversified income profile.

During the Fiscal Year, the Fund's RiverNorth-managed tactical closed-end fund income and alternative credit sleeves benefited primarily from exposure to small business whole loans and investment company debt, which were the largest contributors to returns. Exposure to CEF net asset values, CEF discounts, and special purpose acquisition companies ("SPACs") contributed modestly to performance, while exposure to business development companies ("BDCs") detracted from returns relative to the Fund's primary benchmark. Within the broader Fund, the DoubleLine Opportunistic Income Strategy also contributed positively to performance.

At Fiscal Year-end, the Fund's managed assets remained primarily allocated to the DoubleLine Opportunistic Income Strategy, with the balance in RiverNorth's alternative credit and tactical CEF income strategies. The largest asset class allocations were to non-agency MBS and agency MBS, complemented by small business whole loans and other income-oriented credit investments.

The Fund's structure continues to provide multiple sources of income and return potential through differing market environments. By combining RiverNorth's tactical allocation capabilities with DoubleLine's expertise in structured credit, the Fund is designed to adapt as market opportunities evolve while maintaining a focus on current income and total return.

Looking ahead, we believe the investment environment remains favorable for active managers able to allocate across a broad opportunity set. While uncertainty surrounding interest rates and economic growth may continue to create periodic volatility, we believe such environments can also create attractive opportunities across credit markets and other income-oriented investments. We remain focused on identifying those opportunities while maintaining a disciplined approach to risk management and portfolio construction.

We thank you for your continued trust and investment in the Fund.

Respectfully,

RiverNorth Capital Management, LLC

Opinions and estimates offered constitute our judgement and are subject to change.

2 (888) 848-7569 | www.rivernorth.com

RiverNorth/DoubleLine Strategic Opportunity Fund, Inc.

Shareholder Letter June 30, 2026 (Unaudited)

DEFINITIONS

Investment company debt ("ICD") are non-equity securities. Notes typically obligate issuers to repay creditors the principal loan, in addition to any interest payments, at a predetermined date.

Square Capital (small business loans) is an invitation-only advance on the sales that retailers make through Square's point of sales system. It's essentially a merchant cash advance, meaning that you pay a fixed fee rather than interest and repay the funds with a percentage of your daily sales.

Mortgage-backed securities ("MBS") are asset-backed securities that are secured by a mortgage or collection of mortgages.

Non-agency MBS are issued by private financial institutions.

Agency MBS are issued by government-sponsored enterprises like the Federal National Mortgage Association or the Federal Home Loan Mortgage Association.

Commercial mortgage-backed securities ("CMBS") are fixed-income investment products that are backed by mortgages on commercial properties rather than residential real estate.

Special purpose acquisition companies ("SPACs") are companies with no commercial operations that is formed strictly to raise capital through an initial public offering ("IPO") for the purpose of acquiring an existing company.

Business development companies ("BDCs") are organizations that invest in small- and medium sized companies as well as distressed companies. A BDC helps the small- and medium-sized firms grow in the initial stages of their development.

Annual Report | June 30, 2026 3

RiverNorth/DoubleLine Strategic Opportunity Fund, Inc.

Performance Overview June 30, 2026 (Unaudited)

WHAT IS THE FUND'S INVESTMENT STRATEGY?

The RiverNorth/DoubleLine Strategic Opportunity Fund (the "Fund") seeks to achieve its investment objective by allocating its Managed Assets among the three principal investment strategies described below.

RiverNorth Capital Management, LLC ("RiverNorth") or (the "Advisor"), investment adviser to the Fund, allocates the Fund's assets among three principal strategies: Tactical Closed-End Fund Income Strategy, Alternative Credit Strategy, and Opportunistic Income Strategy. RiverNorth manages the Tactical Closed-End Fund Income Strategy and the Alternative Credit Strategy, DoubleLine Capital, LP, the Fund's subadvisor, manages the Opportunistic Income Strategy. RiverNorth determines which portion of the Fund's assets is allocated to each strategy based on market conditions.

The Tactical CEF Income Strategy typically invests in closed-end funds ("CEFs"), special purpose acquisition companies ("SPACs"), business development companies ("BDCs") and exchange-traded funds. The Alternative Credit Strategy invests primarily in a portfolio of small and mid-sized business loans and related instruments originated from alternative credit platforms. The Opportunistic Income Strategy primarily invests in agency and non-agency residential mortgage-backed securities ("MBS") and commercial mortgage-backed securities seeking to derive value from inefficiencies within the subsectors of the fixed income market while maintaining active risk constraints.

HOW DID THE FUND PERFORM RELATIVE TO ITS BENCHMARK DURING THE FISCAL YEAR?

PERFORMANCE as of June 30, 2026

Annualized
TOTAL RETURN(1) 1 Year 3 Years 5 Years Since
Inception(2)
RiverNorth/DoubleLine Strategic Opportunity Fund, Inc. - NAV(3) 6.41% 8.54% 1.41% 3.38%
RiverNorth/DoubleLine Strategic Opportunity Fund, Inc. - Market Price(4) 3.60% 11.06% 0.22% 3.10%
Bloomberg U.S. Aggregate Bond Index(5) 3.79% 4.16% 0.08% 1.51%
(1) Total returns assume reinvestment of all distributions.
(2) The Fund commenced operations on September 28, 2016.
(3) Performance returns are net of management fees and other Fund expenses.
(4) Market price is the value at which the Fund trades on an exchange. This market price can be more or less than its NAV.
(5) The Bloomberg U.S. Aggregate Bond Index is an unmanaged index of investment grade fixed-rate debt issues with maturities of at least one year. The index cannot be invested in directly and does not reflect fees and expenses.
4 (888) 848-7569 | www.rivernorth.com

RiverNorth/DoubleLine Strategic Opportunity Fund, Inc.

Performance Overview June 30, 2026 (Unaudited)

The total annual expense ratio as a percentage of net assets attributable to common shares as of June 30, 2026 is 2.23% (excluding interest on facility loan payable). Including interest on facility loan payable, the expense ratio is 2.80%.

Performance data quoted represents past performance, which is not a guarantee of future results. Current performance may be lower or higher than the performance quoted. The principal value and investment return of an investment will fluctuate so that your shares may be worth more or less than their original cost. You can obtain performance data current to the most recent month end by calling (844) 569-4750. Total return measures net investment income and capital gain or loss from portfolio investments. All performance shown assumes reinvestment of dividends and capital gains distributions but does not reflect the deduction of taxes that a shareholder would pay on Fund distributions or the sale of Fund shares. Other fees and expenses are applicable to an investment in this Fund.

WHAT CONTRIBUTING FACTORS WERE RESPONSIBLE FOR THE FUND'S RELATIVE PERFORMANCE DURING THE FISCAL YEAR ENDED JUNE 30, 2026?

RiverNorth Tactical Closed-End Fund Income and Alternative Credit Sleeves

The sleeves' exposure to small business whole loans and investment company debt were the largest contributors to returns for the fiscal year ended June 30, 2026 (the "Fiscal Year"). Exposure to CEFs (net asset values and discounts) and SPACs contributed modest positive gains during the Fiscal Year. Exposure to BDCs detracted from returns relative to the Fund's primary benchmark.

DoubleLine Opportunistic Income Sleeve

During the Fiscal Year, the Opportunistic Income portfolio materially outperformed the Bloomberg U.S. Aggregate Index's return of 3.79%.

Financial markets delivered positive returns over the reporting period, supported by resilient economic growth, moderating inflation, and the beginning of the Federal Reserve's easing cycle in the second half of 2025. By late 2025, softer labor-market momentum and continued progress on inflation prompted the Federal Reserve ("Fed") to begin easing monetary policy, which became the primary macroeconomic driver into early 2026. During the first half of 2026, markets continued to benefit from easing inflation pressures and generally resilient economic activity, but periods of heightened volatility emerged as geopolitical tensions intensified and investors moderated expectations for additional Fed accommodation. More recently, geopolitical developments-particularly escalating tensions in the Middle East and the resulting volatility in energy prices-have kept near-term inflation risks elevated despite broader disinflationary progress.

The portfolio's relative outperformance was driven by its allocation to securitized credit. Non-agency mortgage-backed securities ("MBS") was the best performing sector within the portfolio. Strong investor demand due to a positive outlook on housing fundamentals combined with limited supply drove credit spreads tighter over the period. The only sector to detract from overall Fund performance over the period was emerging market debt. These assets lagged the performance of other sectors amid a continued rise in concerns regarding geopolitical economic growth and geopolitical uncertainty.

Annual Report | June 30, 2026 5

RiverNorth/DoubleLine Strategic Opportunity Fund, Inc.

Performance Overview June 30, 2026 (Unaudited)

HOW WAS THE RIVERNORTH/DOUBLELINE STRATEGIC OPPORTUNITY FUND POSITIONED AT THE END OF THE PERIOD?

The Fund's Managed Assets were allocated as follows: 1% to RiverNorth Tactical Closed-End Fund Income, 22% to RiverNorth Alternative Credit, and 77% to DoubleLine Opportunistic Income. The largest asset class allocations were to non-agency MBS and agency MBS.

The total leverage of the portfolio at period end was 37.3%.

DEFINITIONS:

Special purpose acquisition companies ("SPACs") are companies with no commercial operations that is formed strictly to raise capital through an initial public offering ("IPO") for the purpose of acquiring an existing company.

Business development companies ("BDCs") are organizations that invest in small- and medium-sized companies as well as distressed companies. A BDC helps the small- and medium-sized firms grow in the initial stages of their development.

Mortgage-backed securities ("MBS") are asset-backed securities that are secured by a mortgage or collection of mortgages.

Agency MBS are issued by government-sponsored enterprises like the Federal National Mortgage Association or the Federal Home Loan Mortgage Association.

Non-agency MBS are issued by private financial institutions.

Credit spreads represent the difference in yield between a bond and a comparable U.S. Treasury security.

Emerging market debt refers to fixed-income securities issued by governments or companies in developing countries.

6 (888) 848-7569 | www.rivernorth.com

RiverNorth/DoubleLine Strategic Opportunity Fund, Inc.

Performance Overview June 30, 2026 (Unaudited)

GROWTH OF A HYPOTHETICAL $10,000 INVESTMENT

The graph below illustrates the growth of a hypothetical $10,000 investment assuming the purchase of common shares at the closing market price (NYSE: OPP) of $20.00 on September 28, 2016 (commencement of operations) and tracking its progress through June 30, 2026.

Past performance does not guarantee future results. Performance will fluctuate with changes in market conditions. Current performance may be lower or higher than the performance data shown. Performance information does not reflect the deduction of taxes that shareholders would pay on Fund distributions or the sale of Fund shares. An investment in the Fund involves risk, including loss of principal.

Annual Report | June 30, 2026 7

RiverNorth/DoubleLine Strategic Opportunity Fund, Inc.

Performance Overview June 30, 2026 (Unaudited)

TOP TEN HOLDINGS* as of June 30, 2026

% of Net Assets
Government National Mortgage Association, 3.50%, 05/20/2051 3.03%
Government National Mortgage Association, 3.00%, 12/20/2051 3.02%
Government National Mortgage Association, 3.50%, 04/20/2054 2.71%
Freddie Mac REMICS, 2.50%, 02/25/2052 2.40%
EFMT 2025-INV5, 7.218%, 11/25/2029 2.37%
Fannie Mae REMICS, 2.50%, 10/25/2051 2.15%
Fannie Mae REMICS, 2.50%, 05/25/2052 1.79%
Connecticut Avenue Securities Trust 2024-R03 1.73%
COLT 2021-4 Mortgage Loan Trust, 4.14%, 10/25/2066 1.72%
Freddie Mac REMICS, 2.50%, 05/25/2052 1.68%
22.60%
* Holdings are subject to change and exclude short-term investments.

ASSET ALLOCATION as of June 30, 2026^

^ Holdings are subject to change.

Percentages are based on total investments of the Fund and do not include derivatives.

8 (888) 848-7569 | www.rivernorth.com

RiverNorth/DoubleLine Strategic Opportunity Fund, Inc.

Summary Schedule of Investments June 30, 2026
Shares/Description Value
CLOSED-END FUNDS (1.03%)
United States - (1.03%)
613,061 Credit Suisse High Yield Credit Fund $ 1,091,249
161,865 Saba Capital Income & Opportunities Fund 1,063,453
TOTAL CLOSED-END FUNDS
(Cost $2,247,742) 2,154,702
Principal Amount/Description Rate Maturity Value
BANK LOANS (0.00%)
United States - 0.00%
$ 57,261 Cyborg Oldco DC Holdings, Inc., First Lien - Initial Term Loan(a) PRIME + 2.00% 05/01/24 $ -
TOTAL BANK LOANS
(Cost $57,276) -
SMALL BUSINESS LOANS (30.62%)(b)(c)(d)(e)
United States (30.62%)
$ 82,479,858 Square 2.98% - 6.50% 01/28/24-12/25/27 $ 64,055,654
TOTAL SMALL BUSINESS LOANS
(Cost 79,116,696) 64,055,654
Principal Amount/Description Rate Maturity Value
BUSINESS DEVELOPMENT COMPANY NOTES (1.69%)
United States - 1.69%
Financial (1.69%)
$ 864,000 Bain Capital Specialty Finance, Inc. 2.55% 10/13/26 $ 859,183
1,500,000 Blue Owl Capital Corp. 3.13% 04/13/27 1,475,737
1,200,000 Blue Owl Credit Income Corp. 4.70% 02/08/27 1,194,291
3,529,211
TOTAL BUSINESS DEVELOPMENT COMPANY NOTES
(Cost $3,477,951) 3,529,211
Shares/Description Value
COMMON STOCKS (0.44%)
Brazil - (0.00%)
7,796 OI S.A.(f) $ 3
972 Unigel HoldCo Depositary Receipt(f) -
United States - (0.44%)
7,750 Blue Owl Capital Corp. 84,243
80,000 Blue Owl Technology Finance Corp. 828,000

See Notes to Financial Statements.

Annual Report | June 30, 2026 9

RiverNorth/DoubleLine Strategic Opportunity Fund, Inc.

Summary Schedule of Investments June 30, 2026
Shares/Description Value
COMMON STOCKS (continued)
38,618 Pershing Square Tontine Holdings(e)(f) $ 0
TOTAL COMMON STOCKS
(Cost $1,235,772) 912,246
Principal Amount/Description Rate Maturity Value
COLLATERALIZED LOAN OBLIGATIONS (7.51%)
Cayman Islands - 6.34%
$ 1,000,000 Benefit Street Partners CLO IX, Ltd.(a)(g) 3M CME TERM SOFR + 3.10% 10/20/37 $ 1,008,920
1,000,000 Benefit Street Partners CLO XXXVII, Ltd.(a)(g) 3M CME TERM SOFR + 2.85% 01/25/38 1,006,067
500,000 Canyon Capital CLO, Ltd.(a)(g) 3M CME TERM SOFR + 6.01% 07/15/31 452,756
500,000 Canyon CLO 2020-1, Ltd.(a)(g) 3M CME TERM SOFR + 3.10% 07/15/34 486,578
500,000 Carlyle Global Market Strategies CLO, Ltd.(a)(g) 3M CME TERM SOFR + 5.61% 05/15/31 499,961
500,000 Carlyle US CLO 2023-3, Ltd.(a)(g) 3M CME TERM SOFR + 2.70% 10/15/40 502,264
500,000 GoldenTree Loan Management US CLO 22, Ltd.(a)(g) 3M CME TERM SOFR + 2.85% 10/20/37 502,195
500,000 Lakeside Park CLO, Ltd.(a)(g) 3M CME TERM SOFR + 4.60% 04/15/38 492,454
500,000 Neuberger Berman Loan Advisers Clo 44, Ltd.(a)(g) 3M CME TERM SOFR + 2.65% 10/16/35 496,112

See Notes to Financial Statements.

10 (888) 848-7569 | www.rivernorth.com

RiverNorth/DoubleLine Strategic Opportunity Fund, Inc.

Summary Schedule of Investments June 30, 2026
Principal Amount/Description Rate Maturity Value
COLLATERALIZED LOAN OBLIGATIONS (continued)
$ 500,000 Neuberger Berman Loan Advisers Clo 44, Ltd.(a)(g) 3M CME TERM SOFR + 5.15% 10/16/35 $ 489,095
1,000,000 Sound Point CLO XVIII, Ltd.(a)(g) 3M CME TERM SOFR + 2.76% 01/21/31 998,469
500,000 Sound Point CLO XXVI, Ltd.(a)(g) 3M CME TERM SOFR + 7.12% 07/20/34 419,614
900,000 Sound Point CLO XXX, Ltd.(a)(g) 3M CME TERM SOFR + 3.61% 07/25/34 867,957
500,000 Sound Point CLO XXXII, Ltd.(a)(g) 3M CME TERM SOFR + 6.96% 10/25/34 330,352
500,000 Thayer Park CLO, Ltd.(a)(g) 3M SOFR + 6.51% 04/20/34 395,881
500,000 THL Credit Wind River 2017-3 CLO, Ltd.(a)(g) 3M CME TERM SOFR + 7.32% 04/15/35 480,311
500,000 Vibrant CLO III, Ltd.(a)(g) 3M CME TERM SOFR + 3.76% 10/20/31 500,435
500,000 Vibrant CLO IV-R, Ltd.(a)(g) 3M CME TERM SOFR + 3.75% 10/20/37 502,280
500,000 Voya CLO 2014-4, Ltd.(a)(g) 3M CME TERM SOFR + 3.61% 07/14/31 501,317
500,000 Voya CLO, Ltd.(a)(g) 3M CME TERM SOFR + 6.21% 07/14/31 495,448

See Notes to Financial Statements.

Annual Report | June 30, 2026 11

RiverNorth/DoubleLine Strategic Opportunity Fund, Inc.

Summary Schedule of Investments June 30, 2026
Principal Amount/Description Rate Maturity Value
COLLATERALIZED LOAN OBLIGATIONS (continued)
$ 500,000 Voya CLO, Ltd.(a)(g) 3M CME TERM SOFR + 5.51% 07/15/31 $ 447,985
1,000,000 Wellfleet CLO 2021-1, Ltd.(a)(g) 3M CME TERM SOFR + 6.87% 04/20/34 890,284
500,000 Wind River 2021-1 CLO, Ltd.(a)(g) 3M CME TERM SOFR + 3.95% 07/20/37 500,237
Jersey - 0.93%
500,000 Bain Capital Credit CLO 2019-4, Ltd.(a)(g) 3M CME TERM SOFR + 2.90% 04/23/35 494,100
500,000 Bain Capital Credit CLO 2022-3, Ltd.(a)(g) 3M CME TERM SOFR + 7.35% 07/17/35 436,391
1,000,000 Voya CLO 2022-3, Ltd.(a)(g) 3M CME TERM SOFR + 2.60% 10/20/36 1,008,235
United States - 0.24%
500,000 Clover CLO 2021-3 LLC(a)(g) 6.85% 01/25/35 498,806
TOTAL COLLATERALIZED LOAN OBLIGATIONS
(Cost $16,229,600) 15,704,504
Shares/Description Value
RIGHTS (0.00%)
United States - (0.00%)
63,000 Mountain Crest Acquisition Corp. V, Strike Price $0.01, Expires 12/31/2049 $ 6,300
TOTAL RIGHTS
(Cost $8,671) 6,300
WARRANTS (0.02%)
Cayman Islands - (0.00%)
40,085 Nvni Group, Ltd., Strike Price $11.50, Expires 11/01/2028 $ 1,195

See Notes to Financial Statements.

12 (888) 848-7569 | www.rivernorth.com

RiverNorth/DoubleLine Strategic Opportunity Fund, Inc.

Summary Schedule of Investments June 30, 2026
Shares/Description Value
WARRANTS (continued)
54,941 TNL Mediagene, Strike Price $230.00, Expires 12/05/2029 $ 203
China - (0.00%)
30,063 Scage Future, Strike Price $11.50, Expires 06/27/2030 1,233
Germany - (0.00%)
23,875 Heramba Electric PLC, Strike Price $11.50, Expires 10/10/2028 136
Ireland - (0.00%)
63,913 SMX Security Matters PLC, Strike Price $950.00, Expires 03/07/2028 1,380
Israel - (0.00%)
25,890 Holdco Nuvo Group DG, Ltd., Strike Price $11.50, Expires 05/01/2029 13
48,475 Hub Cyber Security, Ltd., Strike Price $172.50, Expires 02/27/2028 800
Malaysia - (0.00%)
62,828 Alps Group, Inc., Strike Price $11.50, Expires 10/31/2030 157
Singapore - (0.00%)
51,583 Euda Health Holdings, Ltd., Strike Price $11.50, Expires 09/24/2026 1,233
24,725 Helport AI, Ltd., Strike Price $11.50, Expires 08/05/2029 630
United States - (0.02%)
14,921 AltEnergy Acquisition Corp., Strike Price $11.50, Expires 11/02/2028 1,791
104,172 Beneficient, Strike Price $11.50, Expires 06/07/2028 1,125
29,843 Cactus Acquisition Corp. 1, Ltd., Strike Price $11.50, Expires 10/29/2026 895
16,078 Everest Consolidator Acquisition Corp., Strike Price $11.50, Expires 07/19/2028 5
9,654 PERSHING SQUARE SPARC HOLDINGS, Strike Price $0.01, Expires 12/31/2049(e) 0
10,619 Southland Holdings, Inc., Strike Price $11.50, Expires 09/01/2026 271
36,627 Uinta Infrastructure Group Corp., Strike Price $11.50, Expires 01/09/2031 21,244
32,389 Volato Group, Inc., Strike Price $287.50, Expires 12/03/2028 777
TOTAL WARRANTS
(Cost $120,013) 33,088

See Notes to Financial Statements.

Annual Report | June 30, 2026 13

RiverNorth/DoubleLine Strategic Opportunity Fund, Inc.

Summary Schedule of Investments June 30, 2026
Principal Amount/Description Rate Maturity Value
U.S. GOVERNMENT / AGENCY MORTGAGE BACKED SECURITIES (78.79%)
United States - 78.79%
$ 978,323 Alternative Loan Trust 6.50% 09/25/36 $ 439,956
1,649,896 Alternative Loan Trust 5.75% 03/25/37 805,256
2,115,552 Alternative Loan Trust 6.00% 07/25/37 1,051,994
1,613,926 Alternative Loan Trust 6.25% 08/25/37 702,369
1,395,559 Alternative Loan Trust 5.50% 12/25/35 942,680
479,961 Alternative Loan Trust 5.50% 11/25/35 254,851
73,635 Alternative Loan Trust(a) 4.77% 12/25/35 82,137
1,099,749 Banc of America Funding Trust(a) 3.14% 05/20/36 954,569
520,807 Banc of America Mortgage Trust 6.00% 09/25/37 430,504
548,149 Bear Stearns ALT-A Trust(a) 5.04% 01/25/36 512,100
492,540 Bear Stearns ARM Trust(a) 4.54% 07/25/36 428,188
2,513,826 Chase Mortgage Finance Trust Series(a) 1M CME TERM SOFR + 0.71% 06/25/37 725,744
2,210,038 ChaseFlex Trust Series 2007-1 6.50% 02/25/37 714,168
1,964,982 CHL Mortgage Pass-Through Trust 5.75% 07/25/37 883,818
993,136 CHL Mortgage Pass-Through Trust(a) 4.07% 03/25/37 848,061
939,782 CHL Mortgage Pass-Through Trust(a) 1M CME TERM SOFR + 0.71% 03/25/35 889,116
4,500,000 COLT 2021-4 Mortgage Loan Trust(a)(g) 4.14% 10/25/66 3,602,032
1,000,000 Connecticut Avenue Securities Trust 2021-R01(a)(g) 30D US SOFR + 6.00% 10/25/41 1,014,382
2,000,000 Connecticut Avenue Securities Trust 2022-R02(a)(g) 30D US SOFR + 7.65% 01/25/27 2,067,943
1,000,000 Connecticut Avenue Securities Trust 2022-R03(a)(g) 30D US SOFR + 9.85% 03/25/42 1,059,406
1,500,000 Connecticut Avenue Securities Trust 2023-R06(a)(g) 30D US SOFR + 3.90% 07/25/43 1,574,202
3,500,000 Connecticut Avenue Securities Trust 2024-R03(a)(g) 30D US SOFR + 2.80% 03/25/44 3,621,814
536,521 CSFB Mortgage-Backed Pass-Through Certificates 5.50% 10/25/35 188,556
1,244,916 CSMC Mortgage-Backed Trust 6.00% 02/25/37 647,344
1,420,012 CSMC Mortgage-Backed Trust 6.75% 08/25/36 687,335
1,000,000 EFMT 2025-INV2(a)(g) 7.49% 05/26/70 990,779
5,000,000 EFMT 2025-INV5(a)(g) 7.22% 11/25/29 4,948,329

See Notes to Financial Statements.

14 (888) 848-7569 | www.rivernorth.com

RiverNorth/DoubleLine Strategic Opportunity Fund, Inc.

Summary Schedule of Investments June 30, 2026
Principal Amount/Description Rate Maturity Value
U.S. GOVERNMENT / AGENCY MORTGAGE BACKED SECURITIES (continued)
$ 7,140,599 Fannie Mae REMICS(h) 2.50% 11/25/50 $ 1,130,103
5,326,393 Fannie Mae REMICS 2.50% 05/25/52 3,745,527
5,059,691 Fannie Mae REMICS(h) 2.50% 02/25/50 795,350
3,883,399 Fannie Mae REMICS 2.50% 10/25/51 2,342,622
7,008,326 Fannie Mae REMICS 2.50% 10/25/51 4,495,183
7,130,747 Fannie Mae REMICS(h) 3.00% 03/25/51 1,166,029
6,942,822 Fannie Mae REMICS(h) 2.50% 04/25/51 1,067,503
1,282,372 Fannie Mae REMICS(h) 2.50% 04/25/51 192,756
7,264,776 Fannie Mae REMICS(h) 2.50% 11/25/50 1,148,096
5,819,596 Fannie Mae REMICS(h) 2.50% 11/25/50 904,190
2,693,571 Fannie Mae REMICS(a)(h) 5.94% - 30D US SOFR 07/25/49 277,735
495,244 Fannie Mae REMICS(a) 30D US SOFR + 7.33% 11/25/42 317,532
943,719 Fannie Mae REMICS(a)(h) 6.34% - 30D US SOFR 03/25/42 90,465
792,603 Fannie Mae REMICS(a)(h) 6.39% - 30D US SOFR 12/25/41 82,313
935,635 Fannie Mae REMICS(a)(h) 5.79% - 30D US SOFR 10/25/41 78,453
3,996,748 Fannie Mae REMICS(h) 3.00% 01/25/51 662,918
164,247 Federal Home Loan Mortgage Corp. REMICS(a) 3.94 - 30D US SOFR 01/15/33 146,395
156,237 First Horizon Alternative Mortgage Securities Trust(a) 4.42% 10/25/35 135,516
9,507,056 Freddie Mac REMICS(h) 2.00% 11/25/50 1,252,349
8,759,936 Freddie Mac REMICS(h) 2.50% 12/25/50 1,314,725
7,761,395 Freddie Mac REMICS(h) 3.00% 02/25/51 1,171,153
2,554,959 Freddie Mac REMICS(a)(h) 5.99% - 30D US SOFR 08/25/50 282,025
4,101,990 Freddie Mac REMICS(h) 3.00% 10/25/50 668,850
6,355,269 Freddie Mac REMICS(h) 3.00% 08/25/51 948,571
3,929,598 Freddie Mac REMICS(h) 3.00% 09/25/51 616,456
5,793,148 Freddie Mac REMICS(h) 3.00% 02/25/50 994,065
5,866,721 Freddie Mac REMICS 2.50% 11/25/51 3,504,962
2,741,067 Freddie Mac REMICS(h) 3.00% 07/25/51 555,092
7,648,813 Freddie Mac REMICS 2.50% 02/25/52 5,029,092
9,268,116 Freddie Mac REMICS(h) 2.50% 10/25/51 1,053,634
7,548,424 Freddie Mac REMICS(h) 3.50% 06/25/41 905,351

See Notes to Financial Statements.

Annual Report | June 30, 2026 15

RiverNorth/DoubleLine Strategic Opportunity Fund, Inc.

Summary Schedule of Investments June 30, 2026
Principal Amount/Description Rate Maturity Value
U.S. GOVERNMENT / AGENCY MORTGAGE BACKED SECURITIES (continued)
$ 5,109,373 Freddie Mac REMICS(h) 3.00% 04/25/51 $ 898,478
1,777,054 Freddie Mac REMICS(a)(h) 5.79% - 30D US SOFR 12/15/41 137,429
2,000,000 Freddie Mac STACR REMIC Trust 2020- DNA6(a)(g) 30D US SOFR + 5.65% 12/25/50 2,302,920
1,700,000 Freddie Mac STACR REMIC Trust 2021- DNA1(a)(g) 30D US SOFR + 4.75% 01/25/51 1,895,793
2,000,000 Freddie Mac STACR REMIC Trust 2021- DNA2(a)(g) 30D US SOFR + 6.00% 08/25/33 2,467,091
1,250,000 Freddie Mac STACR REMIC Trust 2022- DNA1(a)(g) 30D US SOFR + 7.10% 01/25/42 1,288,752
1,500,000 Freddie Mac STACR REMIC Trust 2024- DNA1(a)(g) 30D US SOFR + 1.95% 02/25/44 1,515,940
6,907,758 Government National Mortgage Association(h) 3.00% 08/20/51 829,712
7,155,348 Government National Mortgage Association(h) 3.00% 09/20/51 822,431
5,652,983 Government National Mortgage Association(h) 3.00% 09/20/51 927,003
14,581,084 Government National Mortgage Association(h) 3.00% 11/20/51 1,778,484
9,237,688 Government National Mortgage Association(h) 3.00% 10/20/51 1,225,681
5,190,102 Government National Mortgage Association(a)(h) 3.20% - 30D US SOFR 12/20/51 75,747
11,657,796 Government National Mortgage Association(a)(h) 2.65% - 30D US SOFR 01/20/52 40,799
9,122,159 Government National Mortgage Association(h) 3.00% 08/20/51 1,562,757
1,132,421 Government National Mortgage Association(h) 3.00% 07/20/50 191,141
7,445,513 Government National Mortgage Association 3.50% 05/20/51 6,342,574
7,868,680 Government National Mortgage Association 3.00% 12/20/51 6,311,162
6,745,773 Government National Mortgage Association(h) 3.00% 01/20/52 855,228

See Notes to Financial Statements.

16 (888) 848-7569 | www.rivernorth.com

RiverNorth/DoubleLine Strategic Opportunity Fund, Inc.

Summary Schedule of Investments June 30, 2026
Principal Amount/Description Rate Maturity Value
U.S. GOVERNMENT / AGENCY MORTGAGE BACKED SECURITIES (continued)
$ 5,773,784 Government National Mortgage Association(h) 3.00% 05/20/51 $ 923,138
6,930,414 Government National Mortgage Association 3.50% 04/20/54 5,669,956
5,350,824 Government National Mortgage Association(h) 3.50% 02/20/52 861,969
7,372,262 Government National Mortgage Association(h) 2.50% 06/20/51 1,077,345
8,680,886 Government National Mortgage Association(h) 2.50% 10/20/51 1,055,357
5,821,525 Government National Mortgage Association(a)(h) 3.70% - 30D US SOFR 09/20/51 110,281
13,185,377 Government National Mortgage Association(h) 2.50% 11/20/51 1,867,488
4,974,537 Government National Mortgage Association(h) 3.50% 03/20/51 903,989
6,583,993 Government National Mortgage Association(h) 4.00% 03/20/52 1,240,800
10,134,324 Government National Mortgage Association(a)(h) 2.60% - 30D US SOFR 06/20/51 63,191
10,544,202 Government National Mortgage Association(h) 2.50% 08/20/49 1,181,318
1,715,719 Government National Mortgage Association(a)(h) 0.74% 09/20/66 89,051
3,106,539 Government National Mortgage Association 3.50% 02/20/47 2,800,954
5,779,736 Government National Mortgage Association(a)(h) 0.06% 11/20/69 395,081
5,245,346 Government National Mortgage Association(a)(h) 0.36% 11/20/70 434,647
6,769,922 Government National Mortgage Association(h) 3.00% 05/20/48 1,072,175
2,704,125 Government National Mortgage Association(a)(h) 6.19% - 1M CME TERM SOFR 09/20/50 344,022
5,940,583 Government National Mortgage Association(h) 3.00% 10/20/50 942,627
4,455,866 Government National Mortgage Association(a)(h) 3.64% - 1M CME TERM SOFR 10/20/50 94,230

See Notes to Financial Statements.

Annual Report | June 30, 2026 17

RiverNorth/DoubleLine Strategic Opportunity Fund, Inc.

Summary Schedule of Investments June 30, 2026
Principal Amount/Description Rate Maturity Value
U.S. GOVERNMENT / AGENCY MORTGAGE BACKED SECURITIES (continued)
$ 7,504,992 Government National Mortgage Association(h) 2.50% 11/20/50 $ 1,120,965
4,887,675 Government National Mortgage Association(a)(h) 3.64% - 1M CME TERM SOFR 11/20/50 89,511
7,608,555 Government National Mortgage Association(h) 2.50% 11/20/50 1,092,380
7,327,007 Government National Mortgage Association(h) 2.50% 11/20/50 994,825
6,890,053 Government National Mortgage Association(h) 2.50% 12/20/50 1,050,362
2,610,408 Government National Mortgage Association(a)(h) 6.19% - 1M CME TERM SOFR 01/20/51 311,790
4,959,353 Government National Mortgage Association(h) 3.50% 12/20/50 933,349
13,021,834 Government National Mortgage Association(h) 2.50% 02/20/51 1,897,384
5,994,842 Government National Mortgage Association(h) 3.00% 07/20/50 947,054
2,565,044 Government National Mortgage Association(a)(h) 6.19% - 1M CME TERM SOFR 10/20/50 316,368
1,700,000 Imperial Fund Mortgage Trust 2021- NQM3(a)(g) 4.14% 11/25/56 1,323,651
1,178,794 Luminent Mortgage Trust(a) 1M CME TERM SOFR + 0.51% 05/25/36 1,029,805
444,048 Luminent Mortgage Trust(a) 1M CME TERM SOFR + 0.53% 05/25/36 403,510
950,000 New Residential Mortgage Loan Trust 2026-NQM7(a)(g) 6.50% 05/25/30 913,455
6,868,510 Nomura Asset Acceptance Corp. Alternative Loan Trust(a) 1M CME TERM SOFR + 0.65% 02/25/36 616,006
1,525,223 Nomura Asset Acceptance Corp. Alternative Loan Trust(i) 5.69% 08/25/35 655,464
991,931 PR Mortgage Loan Trust(a)(g) 5.85% 09/25/47 915,364

See Notes to Financial Statements.

18 (888) 848-7569 | www.rivernorth.com

RiverNorth/DoubleLine Strategic Opportunity Fund, Inc.

Summary Schedule of Investments June 30, 2026
Principal Amount/Description Rate Maturity Value
U.S. GOVERNMENT / AGENCY MORTGAGE BACKED SECURITIES (continued)
$ 1,700,000 PRPM 2025-7 LLC(g)(i) 7.45% 08/25/28 $ 1,694,999
2,900,000 PRPM 2025-8 LLC(g)(i) 7.20% 10/25/28 2,889,641
800,000 PRPM 2025-NQM6 Trust(a)(g) 6.96% 12/25/70 793,371
812,493 RALI Series Trust(a) 6.30% 09/25/37 653,044
2,004,833 Residential Asset Securitization Trust 5.75% 02/25/36 654,908
1,714,120 Residential Asset Securitization Trust 6.00% 05/25/37 813,124
3,927,945 Residential Asset Securitization Trust 2005-A12 5.50% 11/25/35 2,098,993
590,394 RFMSI Trust(a) 6.12% 06/25/35 445,659
1,050,824 RFMSI Trust 6.00% 09/25/36 846,633
1,936,000 Spruce Hill Mortgage Loan Trust 2020- SH1(a)(g) 4.68% 01/28/50 1,829,353
248,312 Structured Adjustable Rate Mortgage Loan Trust(a) 5.24% 12/25/35 230,798
1,223,842 Structured Adjustable Rate Mortgage Loan Trust(a) 4.98% 09/25/37 1,090,291
1,000,000 Verus Securitization Trust 2021-7(a)(g) 4.19% 10/25/66 779,187
750,000 Verus Securitization Trust 2024-5(a)(g) 7.79% 06/25/69 754,549
750,000 Verus Securitization Trust 2024-7(a)(g) 7.79% 09/25/69 754,237
1,800,000 Verus Securitization Trust 2025-11(a)(g) 7.22% 11/25/70 1,814,247
1,318,000 Verus Securitization Trust 2025-12(a)(g) 6.56% 12/25/70 1,318,025
2,000,000 Verus Securitization Trust 2025-12(a)(g) 7.08% 12/25/70 2,009,756
1,000,000 Verus Securitization Trust 2025-4(a)(g) 7.46% 05/25/70 1,008,057
600,000 Verus Securitization Trust 2025-6(a)(g) 7.33% 07/25/29 605,618
1,000,000 Verus Securitization Trust 2025-R2(a)(g) 5.88% 07/25/67 986,989
1,000,000 Verus Securitization Trust 2026-1(a)(g) 6.97% 01/25/71 978,636
1,000,000 Verus Securitization Trust 2026-3(a)(g) 6.81% 03/25/71 986,996
1,500,000 Verus Securitization Trust 2026-5(a)(g) 6.70% 05/25/71 1,456,977
663,522 WaMu Mortgage Pass-Through Certificates Trust(a) 4.95% 08/25/36 613,257
710,400 WaMu Mortgage Pass-Through Certificates Trust(a) 4.24% 03/25/37 637,836
779,103 WaMu Mortgage Pass-Through Certificates Trust(a) 4.55% 08/25/46 752,453
TOTAL U.S. GOVERNMENT / AGENCY MORTGAGE BACKED SECURITIES
(Cost $184,517,841) 164,848,262
Principal Amount/Description Rate Maturity Value
FOREIGN CORPORATE BONDS (0.01%)
Basic Materials (0.00%)
$ 53,234 Unigel Luxembourg SA(g)(j) 11.00% 12/31/28 $ 1,597
228,919 Unigel Luxembourg SA(j)(k) 11.00% 12/31/28 6,868
44,227 Unigel Luxembourg SA(g)(j) 13.50% 12/31/27 2,654

See Notes to Financial Statements.

Annual Report | June 30, 2026 19

RiverNorth/DoubleLine Strategic Opportunity Fund, Inc.

Summary Schedule of Investments June 30, 2026
Principal Amount/Description Rate Maturity Value
Basic Materials (continued)
$ 62,116 Unigel Luxembourg SA(j)(k) 13.50% 12/31/27 $ 3,727
14,846
Financial (0.00%)
282,819 Alpha Holding SA de CV(g)(l) 9.00% 02/10/25 2,545
250,000 Mexarrend SAPI de CV(g)(l) 10.25% 07/24/24 1,500
200,000 Operadora de Servicios Mega SA de CV Sofom ER(g)(l) 8.25% 02/11/25 1,700
5,745
Financial (0.01%)
299,050 Unigel Netherlands Holding Corp. BV(j)(k) 15.00% 12/31/44 5,981
TOTAL FOREIGN CORPORATE BONDS
(Cost $1,000,838) 26,572
Principal Amount/Description Rate Maturity Value
NON-AGENCY COLLATERALIZED MORTGAGE OBLIGATIONS (33.09%)
Cayman Islands - 6.42%
$ 578,045 AASET MT-1, Ltd.(g) 5.73% 02/16/32 $ 571,421
550,000 ACORE 2026-FL1 Issuer LLC(a)(g) 1M SOFR + 2.75% 11/20/30 551,372
500,000 ACREC 2021-FL1, Ltd.(a)(g) 1M CME TERM SOFR + 2.76% 09/16/26 500,870
510,000 ACREC 2026-FL4 LLC(a)(g) 1M CME TERM SOFR + 2.40% 08/18/30 509,421
500,000 Arbor Realty Commercial Real Estate Notes 2022-FL1, Ltd.(a)(g) 30D US SOFR + 2.30% 01/15/27 501,247
520,000 AREIT 2022-CRE6 Trust(a)(g) 30D US SOFR + 3.40% 01/20/37 520,171
430,000 AREIT 2025-CRE10, Ltd.(a)(g) 1M CME TERM SOFR + 2.79% 01/17/30 428,062
500,000 CIFC Funding 2021-V, Ltd.(a)(g) 7.06% 01/15/38 500,899

See Notes to Financial Statements.

20 (888) 848-7569 | www.rivernorth.com

RiverNorth/DoubleLine Strategic Opportunity Fund, Inc.

Summary Schedule of Investments June 30, 2026
Principal Amount/Description Rate Maturity Value
NON-AGENCY COLLATERALIZED MORTGAGE OBLIGATIONS (continued)
$ 500,000 Dryden 37 Senior Loan Fund(a)(g) 3M CME TERM SOFR + 5.41% 01/15/31 $ 463,513
500,000 Dryden 40 Senior Loan Fund(a)(g) 3M CME TERM SOFR + 6.01% 08/15/31 421,826
680,000 FS Rialto 2026-FL11 Issuer LLC(a)(g) 1M CME TERM SOFR + 2.65% 01/19/44 682,097
500,000 KREF 2022-FL3, Ltd.(a)(g) 1M CME TERM SOFR + 2.80% 02/17/39 502,306
500,000 LCM Loan Income Fund I Income Note Issuer, Ltd.(a)(g) 3M CME TERM SOFR + 5.86% 07/16/31 280,967
500,000 LCM XIV LP(a)(g) 3M CME TERM SOFR + 5.76% 07/20/31 343,098
500,000 LCM XVII LP(a)(g) 3M CME TERM SOFR + 6.26% 10/15/31 256,305
500,000 LoanCore 2021-CRE6 Issuer, Ltd.(a)(g) 1M CME TERM SOFR + 2.96% 11/15/38 497,674
500,000 Magnetite XXIX, Ltd.(a)(g) 3M CME TERM SOFR + 6.00% 07/15/37 501,315
440,000 MF1 2021-FL7, Ltd.(a)(g) 1M CME TERM SOFR + 2.16% 10/16/36 440,385
560,000 MF1 2021-FL7, Ltd.(a)(g) 1M CME TERM SOFR + 2.66% 10/16/36 560,993

See Notes to Financial Statements.

Annual Report | June 30, 2026 21

RiverNorth/DoubleLine Strategic Opportunity Fund, Inc.

Summary Schedule of Investments June 30, 2026
Principal Amount/Description Rate Maturity Value
NON-AGENCY COLLATERALIZED MORTGAGE OBLIGATIONS (continued)
$ 1,000,000 Octagon 57, Ltd.(a)(g) 3M CME TERM SOFR + 6.86% 10/15/34 $ 940,490
500,000 Octagon Investment Partners 26, Ltd.(a)(g) 3M CME TERM SOFR + 8.35% 07/15/30 13,518
500,000 Octagon Investment Partners 40, Ltd.(a)(g) 3M CME TERM SOFR + 7.26% 01/20/35 416,335
500,000 Octagon Investment Partners 42, Ltd.(a)(g) 3M CME TERM SOFR + 7.53% 07/15/37 496,833
500,000 Octagon Investment Partners XVI, Ltd.(a)(g) 3M CME TERM SOFR + 6.01% 07/17/30 430,462
243,906 PFP 2024-11, Ltd.(a)(g) 1M CME TERM SOFR + 2.99% 08/17/29 244,443
630,000 PFP 2026-13, Ltd.(a)(g) 1M CME TERM SOFR + 2.40% 08/18/43 631,571
670,000 STWD 2021-FL2, Ltd.(a)(g) 1M CME TERM SOFR + 2.21% 04/18/38 670,665
550,000 STWD 2022-FL3, Ltd.(a)(g) 30D US SOFR + 1.95% 11/18/38 551,258
United States - 26.67%
260,000 1345T 2025-AOA(a)(g) 1M CME TERM SOFR + 3.00% 06/15/27 260,813
344,218 AASET 2024-1(g) 6.90% 05/16/31 347,317
262,970 AASET 2024-2, Ltd.(g) 6.61% 09/16/31 263,122
475,000 Affirm Asset Securitization Trust 2025- X2(g) 5.23% 10/15/30 474,972

See Notes to Financial Statements.

22 (888) 848-7569 | www.rivernorth.com

RiverNorth/DoubleLine Strategic Opportunity Fund, Inc.

Summary Schedule of Investments June 30, 2026
Principal Amount/Description Rate Maturity Value
NON-AGENCY COLLATERALIZED MORTGAGE OBLIGATIONS (continued)
$ 700,000 AMSR 2021-SFR3 Trust(g) 4.90% 10/17/26 $ 696,115
1,550,000 AMSR 2021-SFR3 Trust(g) 5.88% 10/17/26 1,543,700
250,000 ARDN 2025-ARCP Mortgage Trust(a)(g) 1M CME TERM SOFR + 4.50% 06/15/27 251,050
375,000 Avant Credit Card Master Trust 2025-1(g) 5.72% 10/15/28 369,842
616,000 BANK 2025-BNK51(g) 4.00% 01/15/36 452,984
3,750,000 BANK 2025-BNK51(a)(g)(h) 2.34% 12/25/67 586,890
439,000 Bank of America Merrill Lynch Commercial Mortgage Trust 2016-UBS10(a) 4.99% 07/15/49 426,182
7,455,000 BANK5 2025-5YR19(a)(g)(h) 2.01% 12/15/58 547,786
414,000 BANK5 2026-5YR20(g) 4.50% 02/15/31 350,358
500,000 BBCMS Mortgage Trust 2018-C2(a) 5.13% 12/15/28 454,803
2,463,000 BBCMS Mortgage Trust 2024-5C27(a)(g)(h) 2.97% 06/15/29 177,865
200,000 BBCMS Mortgage Trust 2024-5C29(g) 4.00% 09/15/29 175,900
250,000 BBCMS Mortgage Trust 2024-5C29(g) 4.00% 09/15/29 216,736
4,186,000 BBCMS Mortgage Trust 2026-5C40(a)(g)(h) 2.34% 02/15/59 370,584
520,000 BDS 2025-FL15 LLC(a)(g) 1M CME TERM SOFR + 2.40% 09/19/30 520,860
620,000 BDS 2025-FL16 LLC(a)(g) 1M CME TERM SOFR + 2.50% 11/19/30 620,373
498,000 Benchmark 2018-B4 Mortgage Trust(a)(g) 2.91% 07/15/28 363,861
400,000 Benchmark 2018-B6 Mortgage Trust(a) 4.74% 09/10/28 378,734
459,000 Benchmark 2019-B9 Mortgage Trust(a) 4.97% 01/15/29 401,485
546,000 Benchmark 2021-B31 Mortgage Trust(g) 2.25% 11/15/31 316,401
550,000 Benchmark 2024-V10 Mortgage Trust(g) 4.50% 09/15/29 497,012
250,000 Benchmark 2024-V8 Mortgage Trust(g) 4.00% 07/15/29 222,474
10,324,631 Benchmark 2025-V15 Mortgage Trust(a)(h) 1.35% 05/25/30 398,320
260,000 Benchmark 2025-V16 Mortgage Trust(g) 4.50% 08/15/58 228,249
500,000 Blue Stream Issuer LLC(g) 8.90% 05/20/28 507,529
2,828,000 BMO 2024-C9 Mortgage Trust(a)(g)(h) 2.10% 07/15/34 341,305
1,750,000 BMO 2025-C11 Mortgage Trust(a)(g)(h) 2.43% 02/15/35 262,353
150,000 BMP Commercial Mortgage Trust 2024- MF23(a)(g) 1M CME TERM SOFR + 2.39% 06/15/41 150,701

See Notes to Financial Statements.

Annual Report | June 30, 2026 23

RiverNorth/DoubleLine Strategic Opportunity Fund, Inc.

Summary Schedule of Investments June 30, 2026
Principal Amount/Description Rate Maturity Value
NON-AGENCY COLLATERALIZED MORTGAGE OBLIGATIONS (continued)
$ 255,000 BPR Trust 2021-NRD(a)(g) 1M CME TERM SOFR + 2.42% 12/15/38 $ 254,397
550,000 BRSP 2026-Fl3, Ltd.(a)(g) 1M SOFR + 2.85% 08/19/43 547,427
500,000 BSPRT 2025-FL12 Issuer LLC(a)(g) 1M CME TERM SOFR + 2.70% 05/17/30 501,766
453,167 Business Jet Securities 2024-2 LLC(g) 7.97% 09/15/30 453,732
321,000 BX Commercial Mortgage Trust(a)(g) 1M CME TERM SOFR + 1.95% 04/15/34 319,642
301,055 BX Commercial Mortgage Trust 2024- MF(a)(g) 1M CME TERM SOFR + 2.69% 02/15/39 302,518
182,000 BX Commercial Mortgage Trust 2025- BCAT(a)(g) 1M CME TERM SOFR + 2.65% 08/15/27 183,149
410,000 BX Commercial Mortgage Trust 2026- CSMO(a)(g) 1M CME TERM SOFR + 2.45% 02/15/28 415,253
271,257 BX Commercial Mortgage Trust 2026- XL6(a)(g) 1M CME TERM SOFR + 3.00% 03/15/28 274,217
325,000 BX Trust(a)(g) 4.08% 12/09/29 295,535
140,000 BX Trust 2024-CNYN(a)(g) 1M CME TERM SOFR + 2.69% 04/15/41 140,478
472,338 BX Trust 2025-ROIC(a)(g) 1M CME TERM SOFR + 2.94% 03/15/27 473,535
5,000 Carvana Auto Receivables Trust 2021- P2(g) 0.00% 05/10/28 709,345
1,250,000 Castlelake Aircraft Structured Trust(a)(g) 0.00% 04/15/39 143,750

See Notes to Financial Statements.

24 (888) 848-7569 | www.rivernorth.com

RiverNorth/DoubleLine Strategic Opportunity Fund, Inc.

Summary Schedule of Investments June 30, 2026
Principal Amount/Description Rate Maturity Value
NON-AGENCY COLLATERALIZED MORTGAGE OBLIGATIONS (continued)
$ 878,000 COMM Mortgage Trust(a)(g) 1M CME TERM SOFR + 2.47% 09/15/33 $ 282,150
450,000 CSAIL 2019-C16 Commercial Mortgage Trust(a) 4.24% 06/15/29 423,612
360,000 DBC 2025-DBC Mortgage Trust(a)(g) 1M CME TERM SOFR + 2.60% 11/15/27 361,862
300,000 ELP Commercial Mortgage Trust 2025- ELP(a)(g) 6.67% 11/13/30 302,938
384,137 Extended Stay America Trust 2026- ESH2(a)(g) 1M CME TERM SOFR + 2.90% 02/15/28 386,642
29,898,312 Fannie Mae-Aces(a)(h) 0.21% 10/25/29 113,482
137,686,975 Fannie Mae-Aces(a)(h) 0.16% 07/25/31 389,503
4,319,810 Fannie Mae-Aces(a)(h) 0.57% 12/25/30 30,754
3,725,642 Fannie Mae-Aces(a)(h) 1.23% 09/25/30 96,359
4,024,350 Fannie Mae-Aces(a)(h) 1.15% 03/25/31 172,029
14,094,018 Fannie Mae-Aces(a)(h) 0.33% 04/25/29 112,810
14,921,007 Fannie Mae-Aces(a)(h) 0.89% 07/25/32 554,866
14,748,991 Fannie Mae-Aces(a)(h) 0.61% 02/25/29 150,015
1,700,000 FMC GMSR Issuer Trust(a)(g) 4.36% 07/25/26 1,649,248
1,750,000 FMC GMSR Issuer Trust(a)(g) 4.44% 10/25/26 1,695,787
15,452,546 FNA 2021-M23 X1 0.59% 11/01/31 234,173
46,440,000 FNA 2022-M4 X2 0.18% 05/25/30 292,479
280,420 FREMF 2018-KF56 Mortgage Trust(a)(g) 30D US SOFR + 5.91% 11/25/28 262,414
528,100 FREMF 2019-KF71 Mortgage Trust(a)(g) 30D US SOFR + 6.11% 10/25/29 512,571
1,200,000 FRTKL 2021-SFR1(g) 4.11% 09/17/26 1,189,568
550,000 FS Rialto 2024-FL9 Issuer LLC(a)(g) 1M CME TERM SOFR + 3.94% 04/19/30 548,899
530,000 FS Rialto 2025-FL10 Issuer LLC(a)(g) 1M CME TERM SOFR + 2.69% 08/19/42 531,596
5,335,517 Ginnie Mae Strip(h) 1.40% 09/16/45 415,877

See Notes to Financial Statements.

Annual Report | June 30, 2026 25

RiverNorth/DoubleLine Strategic Opportunity Fund, Inc.

Summary Schedule of Investments June 30, 2026
Principal Amount/Description Rate Maturity Value
NON-AGENCY COLLATERALIZED MORTGAGE OBLIGATIONS (continued)
$ 5,282,166 GNR 2020-47 SL 5.37%-1M CME SOFR 07/20/44 $ 336,933
3,947,225 Government National Mortgage Association(a)(h) 0.89% 03/16/66 279,763
12,497,942 Government National Mortgage Association(a)(h) 0.84% 02/16/63 746,707
4,634,368 Government National Mortgage Association(a)(h) 0.76% 10/16/65 275,157
4,920,511 Government National Mortgage Association(a)(h) 0.99% 05/16/63 379,948
400,000 Great Wolf Trust 2024-WOLF(a)(g) 1M CME TERM SOFR + 2.89% 03/15/29 403,359
800,000 GreenSky Home Improvement Issuer Trust 2025-3(g) 7.83% 12/27/60 793,201
300,000 GS Mortgage Securities Corp. Trust 2018-RIVR(a)(g) 1M CME TERM SOFR + 1.85% 07/15/35 965
655,000 GS Mortgage Securities Trust(a)(g) 1M CME TERM SOFR + 4.22% 07/15/31 6,537
157,139 GS Mortgage Securities Trust 2015- GC28(a)(g) 4.45% 02/10/48 151,013
976,000 GS Mortgage Securities Trust 2019- GC38(g) 3.00% 02/10/29 840,987
3,680,000 GS Mortgage Securities Trust 2021- GSA3(a)(g)(h) 1.53% 12/15/31 239,266
500,000 Hilton USA Trust 2016-SFP(g) 2.83% 11/05/35 416,866
470,000 INCREF 2026-FL2 LLC(a)(g) 1M CME TERM SOFR + 2.60% 12/19/43 471,641
799,235 JPMBB Commercial Mortgage Securities Trust(a)(h) 0.95% 11/15/47 19
7,228,443 JPMBB Commercial Mortgage Securities Trust(a)(g)(h) 0.65% 08/15/46 18,476
351,000 JPMCC Commercial Mortgage Securities Trust 2019-COR5 3.87% 05/13/29 314,641

See Notes to Financial Statements.

26 (888) 848-7569 | www.rivernorth.com

RiverNorth/DoubleLine Strategic Opportunity Fund, Inc.

Summary Schedule of Investments June 30, 2026
Principal Amount/Description Rate Maturity Value
NON-AGENCY COLLATERALIZED MORTGAGE OBLIGATIONS (continued)
$ 570,000 LMNT CRE 2025-FL3 LLC(a)(g) 1M CME TERM SOFR + 3.60% 05/21/31 $ 576,557
500,000 Lmrk Issuer Co. 2 LLC(g) 8.12% 09/15/30 507,022
300,000 LoanCore 2025 2025-CRE8 Issuer LLC(a)(g) 1M CME TERM SOFR + 2.74% 02/01/30 298,568
425,000 Mariner Finance issuance Trust 2024-B(g) 4.91% 10/20/30 425,177
500,000 MetroNet Infrastructure Issuer LLC(g) 7.83% 08/20/30 511,298
400,000 MF1 2024-FL15(a)(g) 1M CME TERM SOFR + 4.04% 08/18/41 401,304
320,000 MF1 2025-FL17 LLC(a)(g) 1M CME TERM SOFR + 2.74% 02/21/40 321,278
400,000 MF1 2025-FL17 LLC(a)(g) 1M CME TERM SOFR + 3.49% 02/18/40 401,679
630,000 MF1 2026-FL21 LLC(a)(g) 1M CME TERM SOFR + 2.50% 02/18/41 631,571
454,000 Morgan Stanley Capital I Trust 2018-L1(a) 4.94% 10/15/28 416,286
300,000 MTN Commercial Mortgage Trust 2026- LPFX(a)(g) 6.56% 05/15/31 300,172
260,000 Natixis Commercial Mortgage Securities Trust 2019-10K(a)(g) 4.27% 05/15/29 241,685
359,653 New Century Home Equity Loan Trust(a) 1M CME TERM SOFR + 0.47% 05/25/36 359,986
257,000 NYC Commercial Mortgage Trust 2025- 300P(a)(g) 7.39% 07/13/30 259,814
390,000 NYC Commercial Mortgage Trust 2025- 3BP(a)(g) 1M CME TERM SOFR + 3.54% 02/15/27 393,101
1,300,000 PRET 2025-NPL7 LLC(g)(i) 8.35% 07/25/28 1,296,950
1,800,000 Progress Residential 2021-SFR8 Trust(g) 4.00% 10/17/26 1,786,261
1,800,000 Progress Residential Trust(g) 4.00% 07/17/26 1,795,593

See Notes to Financial Statements.

Annual Report | June 30, 2026 27

RiverNorth/DoubleLine Strategic Opportunity Fund, Inc.

Summary Schedule of Investments June 30, 2026
Principal Amount/Description Rate Maturity Value
NON-AGENCY COLLATERALIZED MORTGAGE OBLIGATIONS (continued)
$ 600,000 RCKT Trust 2025-PL1(g) 7.12% 07/25/34 $ 596,862
310,000 RFR Trust 2025-SGRM(a)(g) 7.51% 03/11/29 313,235
280,000 SLG Commercial Mortgage Trust 2026- PAT(a)(g) 6.92% 02/15/31 278,315
50,000 Sofi Professional Loan Program Trust(g) 0.00% 01/25/48 401,245
490,000 STWD 2025-FL4 LLC(a)(g) 1M SOFR + 2.65% 11/19/42 491,712
750,000 Switch ABS Issuer LLC(g) 10.03% 06/25/29 762,750
446,000 UBS Commercial Mortgage Trust(a) 4.84% 02/15/28 411,328
500,000 UBS Commercial Mortgage Trust 2018- C11(a) 4.71% 06/15/28 475,498
453,000 UBS Commercial Mortgage Trust 2018- C13(a) 5.12% 10/15/28 409,957
300,000 UBS-Barclays Commercial Mortgage Trust 2013-C5(a)(g) 3.84% 03/10/46 279,924
600,000 Vantage Data Centers Issuer LLC(g) 6.00% 01/15/31 573,109
349,125 Vital Care Issuer LLC(g) 6.74% 01/30/31 351,538
9,788,677 Washington Mutual Asset-Backed Certificates WMABS Series 2007-HE2 Trust(a) 1M CME TERM SOFR + 0.44% 02/25/37 2,941,447
83,327 Wells Fargo Commercial Mortgage Trust(g) 3.12% 03/15/59 81,708
500,000 Wells Fargo Commercial Mortgage Trust 4.73% 06/15/28 475,114
1,832,000 Wells Fargo Commercial Mortgage Trust 2024-C63(a)(g)(h) 2.51% 08/15/57 267,510
415,000 Wells Fargo Commercial Mortgage Trust 2026-5C8(g) 4.50% 02/15/31 352,570
250,000 WHARF Commercial Mortgage Trust 2025-DC(a)(g) 7.98% 07/15/30 250,187
602,575 Willis Engine Structured Trust VI(g) 7.39% 05/15/29 593,421
TOTAL NON-AGENCY COLLATERALIZED MORTGAGE OBLIGATIONS
(Cost $73,741,407) 69,237,782
Shares/Description Value
SHORT-TERM INVESTMENTS (5.24%)
10,965,377 State Street Institutional Treasury Money Market Fund Premier Class (7 Day Yield 3.590%) $ 10,965,377
TOTAL SHORT-TERM INVESTMENTS
(Cost $10,965,377) 10,965,377

See Notes to Financial Statements.

28 (888) 848-7569 | www.rivernorth.com

RiverNorth/DoubleLine Strategic Opportunity Fund, Inc.

Summary Schedule of Investments June 30, 2026
Shares/Description Value
TOTAL INVESTMENTS (158.44%)
(Cost 372,719,248) $ 331,473,698
Series A Cumulative Perpetual Preferred Shares (-28.68%) (60,000,000 )
Series B Cumulative Perpetual Preferred Shares (-28.68%) (60,000,000 )
Series C Term Preferred Shares (-2.00%) (4,192,060 )
Other Assets In Excess Of Liabilities (0.92%) 1,931,107
NET ASSETS ATTRIBUTABLE TO COMMON SHAREHOLDERS (100.00%) $ 209,212,745

Investment Abbreviations:

CME SOFR - Chicago Mercantile Exchange Secured Overnight Financing Rate

SOFR - Secured Overnight Financing Rate

Reference Rates:

1M CME SOFR - 1 Month CME SOFR as of June 30, 2026 was 3.65%

3M SOFR - 3 Month SOFR as of June 30, 2026 was 3.64%

3M CME SOFR - 3 Month CME SOFR as of June 30, 2026 was 3.73%

30D US SOFR - 30 Day SOFR as of June 30, 2026 was 3.63%

PRIME - US Prime Rate as of June 30, 2026 was 6.75%

(a) Variable rate investment. Interest rates reset periodically. Interest rate shown reflects the rate in effect at June 30, 2026. For securities based on a published reference rate and spread, the reference rate and spread are indicated in the description above. Certain variable rate securities are not based on a published reference rate and spread but are determined by the issuer or agent and are based on current market conditions. These securities do not indicate a reference rate and spread in their description above.
(b) Loans are issued at discounts and do not have a stated interest rate. Rate indicated based on projected future cash flows and an implied 18-month final maturity from the date of origination of each underlying loan. Actual yield and maturity is dependent on timing of future payments.
(c) Security may be deemed restricted to resale to institutional investors. As of June 30, 2026, the aggregate fair value was $64,055,654 representing 30.62% of net assets.
(d) Contains past-due loan. A loan is deemed past-due at June 30, 2026, if the loan borrower has not made its required payment as of the most recent due date. As of June 30, 2026, $1,435,420 of whole loans were past due, which represents 0.69% of net assets.
(e) As a result of the use of significant unobservable inputs to determine fair value, these investments have been classified as Level 3 assets. See Note 2 to the financial statements for additional information.
(f) Non-income producing security.
(g) Security exempt from registration under Rule 144A of the Securities Act of 1933, as amended (the "Securities Act"). Such securities may normally be sold to qualified institutional buyers in transactions exempt from registration. The total value of Rule 144A securities amounts to $124,246,506, which represents 59.39% of net assets as of June 30, 2026.
(h) Interest only securities.

See Notes to Financial Statements.

Annual Report | June 30, 2026 29

RiverNorth/DoubleLine Strategic Opportunity Fund, Inc.

Summary Schedule of Investments June 30, 2026
(i) Step up bond. Coupon changes periodically based upon a predetermined schedule. Interest rate disclosed is that which is in effect at June 30, 2026.
(j) Pay-in-kind securities. Rate paid in-kind is shown in parenthesis.
(k) Securities were purchased pursuant to Regulation S under the Securities Act of 1933, as amended, which exempts securities offered and sold outside of the United States from registration. Such securities cannot be sold in the United States without either an effective registration statement filed pursuant to the Securities Act of 1933, as amended, or pursuant to an exemption from registration. These securities have been deemed liquid under procedures approved by the Fund's Board of Directors (the "Board"). As of June 30, 2026, the aggregate fair value of those securities was $16,576, representing 0.01% of net assets.
(l) Security is currently in default.

Futures Contracts Sold:

Description Contracts
(Short) 		Expiration
Date 		Notional
Value

Value and Unrealized

Appreciation/(Depreciation)

10-Yr U.S. Treasury Note Futures (95 ) September 2026 $ 10,684,531 $ (147,079 )
US 5Yr Note Future (8 ) September 2026 856,375 (2,439 )
$ 11,540,906 $ (149,518 )

See Notes to Financial Statements.

30 (888) 848-7569 | www.rivernorth.com

RiverNorth/DoubleLine Strategic Opportunity Fund, Inc.

Statement of Assets and Liabilities June 30, 2026
ASSETS:
Investments in securities:
At cost $ 372,719,248
At value $ 331,473,698
Receivable for principal repayments 468,757
Variation margin receivable 38,735
Deposit with broker for futures contracts 252,125
Foreign currency, at value (Cost $114) 112
Receivable for investments sold 37
Interest receivable 2,034,845
Dividends receivable 73,156
Deferred offering costs 227,812
Prepaid and other assets 27,433
Total Assets 334,596,710
LIABILITIES:
Series C Term Preferred Shares (6.00%, $10 liquidation Value, 419,206 shares issued and outstanding) $ 4,192,060
Payable for credit agreement fees 8,333
Dividend payable - Series A Cumulative Perpetual Preferred Shares 328,125
Dividend payable - Series B Cumulative Perpetual Preferred Shares 356,251
Dividend payable - Series C Term Preferred Shares 31,440
Payable to Adviser 274,503
Payable to fund accounting and administration 31,276
Payable to transfer agency 8,998
Payable for compliance fees 13,633
Payable for custodian fees 16,880
Payable for audit fees 14,000
Payable to custodian due to overdraft 3,594
Other payables 104,872
Total Liabilities 5,383,965
Series A Cumulative Perpetual Preferred Shares (4.375%, $25 liquidation value, 2,400,000 shares issued and outstanding) $ 60,000,000
Series B Cumulative Perpetual Preferred Shares (4.75%, $25 liquidation value, 2,400,000 shares issued and outstanding) $ 60,000,000
Net Assets $ 209,212,745
NET ASSETS CONSIST OF:
Paid-in capital $ 279,094,314
Total distributable earnings (accumulated deficit) (69,881,569 )
Net Assets $ 209,212,745
PRICING OF SHARES:
Net Assets $ 209,212,745

See Notes to Financial Statements.

Annual Report | June 30, 2026 31

RiverNorth/DoubleLine Strategic Opportunity Fund, Inc.

Statement of Assets and Liabilities June 30, 2026
Shares of common stock outstanding (50,000,000 of shares authorized, at $0.0001 par value per share) 24,990,131
Net asset value per share $ 8.37

See Notes to Financial Statements.

32 (888) 848-7569 | www.rivernorth.com

RiverNorth/DoubleLine Strategic Opportunity Fund, Inc.

Statement of Operations For the Year Ended June 30, 2026
INVESTMENT INCOME:
Interest $ 26,292,515
Dividends 1,280,156
Other Income 13,649
Total Investment Income 27,586,320
EXPENSES:
Adviser fee 3,395,616
Loan service fees 1,104,539
Accounting and administration fees 355,972
Dividends to Series C Term Preferred Shares 251,560
Printing expenses 131,767
Director expenses 129,253
Legal expenses 113,304
Credit agreement fees 110,150
Transfer agent expenses 107,286
Audit expenses 100,275
Listing expense 49,268
Custodian fees 36,477
Compliance expense 33,451
Insurance fee 3,589
Other expenses 66,925
Total Expenses 5,989,432
Net Investment Income 21,596,888
REALIZED AND UNREALIZED GAIN/(LOSS):
Net realized gain/(loss) on:
Investments (3,546,819 )
Futures contracts 960,238
Foreign currency transactions 6
Net realized loss (2,586,575 )
Net change in unrealized appreciation/(depreciation) on:
Investments 1,530,560
Futures contracts (507,531 )
Translation of assets and liabilities denominated in foreign currencies (11 )
Net change in unrealized appreciation/(depreciation) 1,023,018
Net Realized and Unrealized Loss on Investments (1,563,557 )
Dividends to Series A Cumulative Perpetual Preferred Shares (2,625,036 )
Dividends to Series B Cumulative Perpetual Preferred Shares (2,850,000 )
Net Increase in Net Assets Resulting from Operations $ 14,558,295

See Notes to Financial Statements.

Annual Report | June 30, 2026 33

RiverNorth/DoubleLine Strategic Opportunity Fund, Inc.

Statements of Changes in Net Assets

For the
Year Ended
June 30, 2026 		For the
Year Ended
June 30, 2025
NET INCREASE/(DECREASE) IN NET ASSETS ATTRIBUTABLE TO COMMON SHAREHOLDERS FROM OPERATIONS:
Net investment income $ 21,596,888 $ 24,947,933
Net realized loss (2,586,575 ) (423,868 )
Net change in unrealized appreciation/(depreciation) 1,023,018 (1,359,027 )
Net increase in net assets resulting from operations 20,033,331 23,165,038
Distributions to Series A Preferred Shareholders (2,625,036 ) (2,625,036 )
Distributions to Series B Preferred Shareholders (2,850,000 ) (2,850,000 )
Net increase in net assets attributable to common shareholders resulting from operations 14,558,295 17,690,002
DISTRIBUTIONS TO COMMON SHAREHOLDERS:
From distributable earnings (13,006,513 ) (17,251,082 )
From tax return of capital (14,321,724 ) (10,228,551 )
Net decrease in net assets attributable to common shareholders from distributions to common shareholders (27,328,237 ) (27,479,633 )
COMMON SHARE TRANSACTIONS:
Proceeds from shares sold, net of offering costs 9,187,513 6,735,659
Net increase in net assets attributable to common shareholders from capital share transactions 9,187,513 6,735,659
Net Increase/(Decrease) in Net Assets attributable to common shareholders (3,582,429 ) (3,053,972 )
NET ASSETS ATTRIBUTABLE TO COMMON SHAREHOLDERS:
Beginning of year 212,795,174 215,849,146
End of year $ 209,212,745 $ 212,795,174
OTHER INFORMATION:
Common Share Transactions:
Shares outstanding - beginning of year 23,809,606 22,971,194
Shares sold 1,180,525 838,412
Common Shares outstanding - end of year 24,990,131 23,809,606

See Notes to Financial Statements.

34 (888) 848-7569 | www.rivernorth.com

RiverNorth/DoubleLine Strategic Opportunity Fund, Inc.

Statement of Cash Flows For the Year Ended June 30, 2026
CASH FLOWS FROM OPERATING ACTIVITIES:
Net increase in net assets resulting from operations $ 20,033,331
Adjustments to reconcile net decrease in net assets from operations to net cash provided by operating activities:
Purchases of investment securities (234,946,421 )
Proceeds from disposition and paydowns on investment securities 220,137,097
Amortization of premium and accretion of discount on investments, net 8,142,041
Net proceeds from short-term investment securities 7,902,177
Net realized (gain)/loss on:
Investments 3,546,819
Net change in unrealized appreciation/(depreciation) on:
Investments (1,530,560 )
(Increase)/Decrease in assets:
Interest receivable 383,181
Dividends receivable (73,156 )
Variation margin receivable 23,859
Deferred offering costs (34,802 )
Receivable for principal repayments (62,645 )
Prepaid and other assets 1,945
Increase/(Decrease) in liabilities:
Payable to transfer agency 90
Payable to Adviser 6,979
Payable to fund accounting and administration (18,710 )
Payable for audit fees (6,025 )
Payable for compliance fees 77
Payable for custodian fees 1,901
Other payables 11,265
Net cash provided by operating activities $ 23,518,443
CASH FLOWS FROM FINANCING ACTIVITIES:
Proceeds from sale of capital shares $ 9,187,513
Cash distributions paid to common shareholders (27,328,237 )
Cash distributions paid to preferred shareholders (5,475,036 )
Payable to custodian due to overdraft 3,594
Net cash used in financing activities $ (23,612,166 )
Effect of foreign exchange rate changes on cash $ (5 )
Net decrease in cash and restricted cash $ (93,723 )
Cash and restricted cash, beginning of year $ 345,960
Cash and restricted cash, end of year $ 252,237
SUPPLEMENTAL DISCLOSURE OF CASH FLOW INFORMATION:
Cash paid for interest expense and fees for line of credit $ 110,150

See Notes to Financial Statements.

Annual Report | June 30, 2026 35

RiverNorth/DoubleLine Strategic Opportunity Fund, Inc.

Statement of Cash Flows For the Year Ended June 30, 2026
Reconciliation of restricted and unrestricted cash at the beginning of year to the statement of assets and liabilities:
Cash $ 7,544
Foreign Cash $ 116
Deposit with broker for futures contracts $ 338,300
Reconciliation of restricted and unrestricted cash at the end of the year to the statement of assets and liabilities:
Foreign Cash $ 112
Deposit with broker for futures contracts $ 252,125

See Notes to Financial Statements.

36 (888) 848-7569 | www.rivernorth.com

Intentionally Left Blank

RiverNorth/DoubleLine Strategic Opportunity Fund, Inc.

Financial Highlights For a common share outstanding throughout the periods presented
Net asset value - beginning of year
Income/(loss) from investment operations:
Net investment income(a)
Net realized and unrealized gain/(loss)(b)
Total income/(loss) from investment operations
Less distributions to common shareholders: From net investment income
From tax return of capital
Total distributions to common shareholders
Less distributions to preferred shareholders:
From net investment income
Total distributions to preferred shareholders
Capital share transactions:
Dilutive effect of rights offering
Common share offering costs charged to paid-in capital
Total capital share transactions
Preferred Stock issuance and offering costs charged to paid-in capital
Total preferred stock transactions
Net decrease in net asset value
Net asset value - end of year
Market price - end of year
Total Return(d)
Total Return - Market Price(d)
Supplemental Data:
Net assets, end of period(in thousands)
Ratio of expenses to average net assets(e)(f)
Ratio of net investment income
Portfolio turnover rate
Cumulative Preferred Stock (in thousands)
Asset coverage of Preferred Stock(g)
Involuntary liquidating preference per unit of Series A Cumulative Preferred Stock
Average market value per unit of Series A Cumulative Preferred Stock
Involuntary liquidating preference per unit of Series B Cumulative Preferred Stock
Average market value per unit of Series B Cumulative Preferred Stock
Involuntary liquidating preference per unit of Series C Term Preferred Stock
Average market value per unit of Series C Term Preferred Stock
See Notes to Financial Statements.
38 (888) 848-7569 | www.rivernorth.com

RiverNorth/DoubleLine Strategic Opportunity Fund, Inc.

Financial Highlights For a common share outstanding throughout the periods presented

For the

Year Ended

June 30, 2026

For the

Year Ended

June 30, 2025

For the

Year Ended

June 30, 2024

For the

Year Ended

June 30, 2023

For the

Year Ended

June 30, 2022

$ 8.94 $ 9.40 $ 9.61 $ 11.27 $ 15.17
0.88 1.06 1.13 0.97 0.87
(0.05 ) (0.08 ) 0.11 (0.78 ) (2.49 )
0.83 0.98 1.24 0.19 (1.62 )
(0.54 ) (0.73 ) (0.88 ) (0.91 ) (0.81 )
(0.58 ) (0.44 ) (0.33 ) (0.59 ) (1.03 )
(1.12 ) (1.17 ) (1.21 ) (1.50 ) (1.84 )
(0.23 ) (0.23 ) (0.24 ) (0.25 ) (0.24 )
(0.23 ) (0.23 ) (0.24 ) (0.25 ) (0.24 )
(0.05 )(c) (0.04 )(c) - (0.10 )(c) (0.06 )(c)
- - - - (0.01 )
(0.05 ) (0.04 ) - (0.10 ) (0.07 )
- - - - (0.13 )
- - - - (0.13 )
(0.57 ) (0.46 ) (0.21 ) (1.66 ) (3.90 )
$ 8.37 $ 8.94 $ 9.40 $ 9.61 $ 11.27
$ 7.72 $ 8.55 $ 8.65 $ 8.54 $ 10.89
6.41 % 7.98 % 11.28 % (1.26 %) (14.82 %)
3.60 % 12.99 % 17.04 % (7.92 %) (19.86 %)
$ 209,213 $ 212,795 $ 215,849 $ 220,659 $ 219,123
2.80 % 2.78 % 2.75 % 2.22 % 1.93 %
10.11 % 11.52 % 12.03 % 9.61 % 6.32 %
69 % 82 % 117 % 75 % 44 %
$ 124,192 $ 124,192 $ 120,000 $ 120,000 $ 120,000
66 67 70 71 71
25.00 25.00 25.00 25.00 25.00
16.99 18.54 18.25 18.59 22.98
25.00 25.00 25.00 25.00 25.00
18.53 20.00 19.59 19.64 22.93
10.00 10.00 - - -
10.20 10.12 - - -

See Notes to Financial Statements.

Annual Report | June 30, 2026 39

RiverNorth/DoubleLine Strategic Opportunity Fund, Inc.

Financial Highlights For a common share outstanding throughout the periods presented
(a) Based on average shares outstanding during the period.
(b) Recognition of net investment income by the Fund is affected by the timing of the declarations of dividends by the underlying closed-end funds in which the Fund invests. The ratio does not include net investment income of the closed-end funds in which the Fund invests.
(c) Represents the impact of the Fund's rights offering of 1,180,525 shares in November 2025, 838,412 shares in November 2024, 3,508,633 in September 2022 and 2,926,441 shares in October 2021 at a subscription price per share based on a formula. For more details please refer to Note 10 of the Notes to Financial Statements.
(d) Total investment return is calculated assuming a purchase of common shares at the opening on the first day and a sale at closing on the last day of each period reported. For purposes of the Total Return calculations, dividends and distributions, if any, are assumed to be reinvested at NAV. For purposes of the Total Return-Market Price calculation, dividends and distributions, if any, are assumed to be reinvested at prices obtained under the Fund's dividend reinvestment plan. Total investment returns do not reflect brokerage commissions, if any. Periods less than one year are not annualized.
(e) Ratio includes leverage expenses and loan service fees of 0.57%, 0.61%, 0.59%, 0.00% and 0.05% respectively, that are outside the expense limit.
(f) The ratios exclude the impact of income and expenses of the underlying funds in which the Fund invests as represented in the Schedule of Investments.
(g) The asset coverage ratio for a class of senior securities representing stock is calculated as the Fund's total assets, less all liabilities and indebtedness not represented by the Fund's senior securities, divided by secured senior securities representing indebtedness plus the aggregate of the involuntary liquidation preference of secured senior securities which are stock, is the amount to which such class of senior security would be entitled on involuntary liquidation of the issuer in preference to a security junior to it. Series B Perpetual Preferred Stock and Series C Term Preferred Stock have the same priority with respect to payment of dividends and distributions and liquidation preference as the issued and outstanding Series A Preferred Stock and any other shares of preferred stock that the Fund may issue. With respect to the Series A Perpetual Preferred Stock, Series B Perpetual Preferred Stock and Series C Term Preferred Stock, the asset coverage per unit figure is expressed in terms of dollar amounts per share of outstanding Preferred Stock (based on a liquidation preference of $25 for Series A and Series B Preferred Stock, and a liquidation of $10 for Series C Preferred Stock) and is equivalent to the Asset Coverage of Preferred Stock presented given Series A, Series B and Series C Preferred Stock have a pari-passu liquidation preference.

See Notes to Financial Statements.

40 (888) 848-7569 | www.rivernorth.com

RiverNorth/DoubleLine Strategic Opportunity Fund, Inc.

Notes to Financial Statements June 30, 2026

1. ORGANIZATION

RiverNorth/DoubleLine Strategic Opportunity Fund, Inc. (the "Fund") is a closed-end management investment company that was organized as a Maryland corporation on June 22, 2016, and commenced investment operations on September 28, 2016. The investment adviser to the Fund is RiverNorth Capital Management, LLC (the "Adviser"). The Fund's sub-adviser is DoubleLine Capital, LP ("Sub-Adviser"). The Fund is a diversified investment company with an investment objective to seek current income and overall total return.

The Fund seeks to achieve its investment objective by allocating its Managed Assets among three principal strategies: Tactical Closed-End Fund Income Strategy, Alternative Credit Strategy and Opportunistic Income Strategy. The Adviser determines the portion of the Fund's Managed Assets to allocate to each strategy and may, from time to time, adjust the allocations.

2. SIGNIFICANT ACCOUNTING POLICIES

The following is a summary of significant accounting policies followed by the Fund. These policies are in conformity with generally accepted accounting principles in the United States of America ("GAAP"). The financial statements are prepared in accordance with GAAP, which requires management to make estimates and assumptions that affect the reported amounts and disclosures, including the disclosure of contingent assets and liabilities, in the financial statements during the reporting period. Management believes the estimates and security valuations are appropriate; however, actual results may differ from those estimates, and the security valuations reflected in the financial statements may differ from the value the Fund ultimately realizes upon sale of the securities. The Fund is considered an investment company for financial reporting purposes under GAAP and follows the accounting and reporting guidance applicable to investment companies as codified in Accounting Standards Codification ("ASC") Topic 946 - Financial Services - Investment Companies. The financial statements have been prepared as of the close of the New York Stock Exchange ("NYSE") on June 30, 2026.

Security Valuation: The Fund's investments are generally valued at their fair value using market quotations. If a market value quotation is unavailable a security may be valued at its estimated fair value as described in Note 3.

Security Transactions and Related Income: The Fund follows industry practice and records security transactions on the trade date basis. The specific identification method is used for determining gains or losses for financial statements and income tax purposes. Dividend income is recorded on the ex-dividend date or for certain foreign securities, when the information becomes available to the Fund and interest income and expenses are recorded on an accrual basis. Discounts and premiums on securities purchased are amortized or accreted using the effective interest method. Paydown gains and losses on mortgage-related and other asset-backed securities are recorded as components of interest income on the Statement of Operations. Withholding taxes on foreign dividends have been provided for in accordance with the Fund's understanding of the applicable country's tax rules and rates. The ability of issuers of debt securities held by the Fund to meet their obligations may be affected by economic and political developments in a specific country or region. Settlement on bank loans transactions may be in excess of seven business days. Interest only stripped mortgage-backed securities ("IO Strips") are securities that receive only interest payments from a pool of mortgage loans. Little to no principal will be received by the Fund upon maturity of an IO Strip. Periodic adjustments are recorded to reduce the cost of the security until maturity, which are included in interest income.

Annual Report | June 30, 2026 41

RiverNorth/DoubleLine Strategic Opportunity Fund, Inc.

Notes to Financial Statements June 30, 2026

Foreign Currency Translation: The books and records of the Fund are maintained in U.S. dollars. Investment valuations and other assets and liabilities initially expressed in foreign currencies are converted each business day into U.S. dollars based upon current exchange rates. Prevailing foreign exchange rates may generally be obtained at the close of the NYSE (normally, 4:00 p.m. Eastern Time). The portion of realized and unrealized gains or losses on investments due to fluctuations in foreign currency exchange rates is not separately disclosed and is included in realized and unrealized gains or losses on investments, when applicable.

Cash Balance: The Fund places its cash on deposit with financial institutions in the United States, which are insured by the Federal Deposit Insurance Corporation ("FDIC") up to $250,000. The Fund's credit risk in the event of failure of these financial institutions is represented by the difference between the FDIC limit and the total amounts on deposit. Management monitors the financial institutions' creditworthiness in conjunction with balances on deposit to minimize risk. The Fund from time to time may have amounts on deposit in excess of the insured limits.

Preferred Stock: In accordance with ASC 480-10-25, the Fund's Series A and Series B Cumulative Perpetual Preferred Stock have been classified as equity on the Statement of Assets and Liabilities. Refer to "Note 9. Preferred Stock" for further details.

Other: The Fund holds certain investments which pay dividends to their shareholders based upon available funds from operations. It is possible for these dividends to exceed the underlying investments' taxable earnings and profits resulting in the excess portion of such dividends being designated as a return of capital. Distributions received from investments in securities that represent a return of capital or long-term capital gains are recorded as a reduction of the cost of investments or as a realized gain, respectively.

The Fund invests in closed-end funds, each of which has its own investment risks. Those risks can affect the value of the Fund's investments and therefore the value of the Fund's shares. To the extent that the Fund invests more of its assets in one closed-end fund than in another, the Fund will have greater exposure to the risks of that closed-end fund.

Common Share Valuation: The Fund's net asset value ("NAV") is generally calculated as of the close of trading on the NYSE (normally 4:00 p.m. Eastern Time) every day the NYSE is open. The NAV is calculated by dividing the value of all of the securities and other assets of the Fund, less the liabilities (including accrued expenses and indebtedness), by the total number of common shares outstanding.

Federal Income Taxes: The Fund has been treated as, and intends to qualify each year for special tax treatment afforded to, a regulated investment company ("RIC") under Subchapter M of the Internal Revenue Code of 1986, as amended ("IRC"). In order to qualify as a RIC, the Fund must, among other things, satisfy income, asset diversification and distribution requirements. As long as it so qualifies, the Fund will not be subject to U.S. federal income tax to the extent that it distributes annually its investment company taxable income and its "net capital gain". If the Fund retains any investment company taxable income or net capital gain, it will be subject to U.S. federal income tax on the retained amount at regular corporate tax rates. In addition, if the Fund fails to qualify as a RIC for any taxable year, it will be subject to U.S. federal income tax on all of its income and gains at regular corporate tax rates.

42 (888) 848-7569 | www.rivernorth.com

RiverNorth/DoubleLine Strategic Opportunity Fund, Inc.

Notes to Financial Statements June 30, 2026

As of and during the year ended June 30, 2026, the Fund did not have a liability for any unrecognized tax benefits. The Fund files U.S. federal, state, and local tax returns as required. The Fund's tax returns are subject to examination by the relevant tax authorities until expiration of the applicable statute of limitations, which is generally three years after the filing of the tax return for federal purposes and four years for most state returns. Tax returns for open years have incorporated no uncertain tax positions that require a provision for income taxes.

The Fund recognizes interest and penalties, if any, related to unrecognized tax benefits as income tax expenses on the Statement of Operations. During the year ended June 30, 2026, the Fund did not incur any interest or penalties.

Distributions to Shareholders: Distributions to shareholders, which are determined in accordance with income tax regulations, are recorded on the ex-dividend date. The treatment for financial reporting purposes of distributions made to common shareholders during the year from net investment income or net realized capital gains may differ from their ultimate treatment for federal income tax purposes. These differences are caused primarily by differences in the timing of recognition of certain components of income, expense, or realized capital gain for federal income tax purposes. Where such differences are permanent in nature, they are reclassified in the components of the net assets based on their ultimate characterization for federal income tax purposes. Any such reclassification will have no effect on net assets, results of operations, or NAV per common share of the Fund.

The Fund maintains a level distribution policy. The Fund distributes to common shareholders regular monthly cash distributions of its net investment income. In addition, the Fund distributes its net realized capital gains, if any, at least annually. At times, to maintain a stable level of distributions, the Fund may pay out less than all of its net investment income or pay out accumulated undistributed income, or return of capital, in addition to current net investment income. Any distribution that is treated as a return of capital generally will reduce a common shareholder's basis in his or her shares, which may increase the capital gain or reduce the capital loss realized upon the sale of such shares. Any amounts received in excess of a common shareholder's basis are generally treated as capital gain, assuming the shares are held as capital assets. The Board of Directors of the Fund (the "Board" and the members thereof, "Directors") approved the implementation of the level distribution policy to make monthly cash distributions to common shareholders, stated in terms of a rate equal to 12.5% of the average of the Fund's NAV per common share for the final five trading days of the previous calendar year. The Fund made monthly distributions to common shareholders set at a level monthly rate of $0.0950 per common share for the period from July 1, 2025 to December 31, 2025 and $.0910 per common share for the period January 1, 2026 to June 30, 2026.

Previously, the Board approved the adoption of a managed distribution plan in accordance with a Section 19(b) exemptive order whereby the Fund made monthly distributions to common shareholders set at a fixed monthly rate.

Distributions to holders of preferred stock are accrued on a daily basis as described in Note 9.

Annual Report | June 30, 2026 43

RiverNorth/DoubleLine Strategic Opportunity Fund, Inc.

Notes to Financial Statements June 30, 2026

Return of Capital Distributions: At times, to maintain a stable level of distributions, the Fund may pay out less than all of its net investment income or pay out accumulated undistributed income, or return of capital, in addition to current net investment income. Any distribution that is treated as a return of capital generally will reduce a common shareholder's basis in his or her shares, which may increase the capital gain or reduce the capital loss realized upon the sale of such shares.

3. SECURITIES VALUATION AND FAIR VALUE MEASUREMENTS

Fair value is defined as the price that the Fund might reasonably expect to receive upon selling an investment in a timely transaction to an independent buyer in the principal or most advantageous market for the investment. GAAP establishes a three-tier hierarchy to maximize the use of observable market data and minimize the use of unobservable inputs and to establish classification of fair value measurements for disclosure purposes.

Inputs refer broadly to the assumptions that market participants would use in pricing the asset or liability, including assumptions about risk, for example, the risk inherent in a particular valuation technique used to measure fair value including using such a pricing model and/or the risk inherent in the inputs to the valuation technique. Inputs may be observable or unobservable. Observable inputs are inputs that reflect the assumptions market participants would use in pricing the asset or liability developed based on market data obtained from sources independent of the reporting entity. Unobservable inputs are inputs that reflect the reporting entity's own assumptions about the assumptions market participants would use in pricing the asset or liability developed based on the best information available in the circumstances.

Various inputs are used in determining the value of the Fund's investments. These inputs are summarized in the three broad levels listed below.

Level 1 - Unadjusted quoted prices in active markets for identical, unrestricted assets or liabilities that the Fund has the ability to access at the measurement date;
Level 2 - Quoted prices which are not active, quoted prices for similar assets or liabilities in active markets or inputs other than quoted prices that are observable (either directly or indirectly) for substantially the full term of the asset or liability; and
Level 3 - Significant unobservable prices or inputs (including the Fund's own assumptions in determining the fair value of investments) where there is little or no market activity for the asset or liability at the measurement date.

The inputs used to measure fair value may fall into different levels of the fair value hierarchy. In such cases, for disclosure purposes, the level in the fair value hierarchy within which the fair value measurement falls in its entirety is determined based on the lowest level input that is significant to the fair value measurement in its entirety.

Pursuant to the requirements of Rule 2a-5 under the Investment Company Act of 1940, as amended, the Board has designated the Adviser as the Fund's valuation designee to make all fair valuation determinations with respect to the Fund's portfolio investments, subject to the Board's oversight.

44 (888) 848-7569 | www.rivernorth.com

RiverNorth/DoubleLine Strategic Opportunity Fund, Inc.

Notes to Financial Statements June 30, 2026

Equity securities, including closed-end funds and business development company notes, are generally valued by using market quotations, but may be valued on the basis of prices furnished by a pricing service when the Adviser believes such prices more accurately reflect the fair market value of such securities. Securities that are traded on any stock exchange are generally valued by the pricing service at the last quoted sale price. Lacking a last sale price, an exchange traded security is generally valued by the pricing service at its last bid price. Securities traded in the NASDAQ over-the-counter market are generally valued by the pricing service at the NASDAQ Official Closing Price. When using the market quotations or close prices provided by the pricing service and when the market is considered active, the security will be classified as a Level 1 security. Sometimes, an equity security owned by the Fund will be valued by the pricing service with factors other than market quotations or when the market is considered inactive. When this happens, the security will be classified as a Level 2 security. When market quotations are not readily available, when the Adviser determines that the market quotation or the price provided by the pricing service does not accurately reflect the current fair value, or when restricted or illiquid securities are being valued, such securities are valued as determined in good faith by the Adviser, as the Fund's valuation designee, in conformity with guidelines adopted by and subject to review by the Board. These securities will be categorized as Level 3 securities.

Investments in mutual funds, including short-term investments, are generally priced at the ending NAV provided by the service agent of the funds. These securities will be classified as Level 1 if the securities are determined to have a readily determinable fair value. For an investment that does not have a readily determinable fair value, the investment will be valued using the NAV reported by the investment fund as a practical expedient, without further adjustment, unless it is probable that the investment will be sold at a value significantly different than the reported NAV.

Domestic and foreign fixed income securities, including foreign and U.S. corporate bonds, foreign and U.S. government bonds, non-agency collateralized mortgage obligations, U.S. Government/ Agency mortgage-backed securities, bank loans, and collateralized loan obligations are normally valued on the basis of quotes obtained from brokers and dealers or independent pricing services. Foreign currency positions, including forward foreign currency contracts, are priced at the mean between the closing bid and asked prices at 4:00 p.m. Eastern Time. Prices obtained from independent pricing services typically use information provided by market makers or estimates of market values obtained from yield data relating to investments or securities with similar characteristics. Data used to establish quotes includes analysis of cash flows, pre-payment speeds, default rates, delinquency assumptions and assumptions regarding collateral and loss assumptions. These securities will be classified as Level 2 securities.

Small business loans, as an asset class, are not presently traded on a developed secondary market. Therefore, market quotations are not available. Accordingly, all small business loans are fair valued as determined in good faith by the Adviser pursuant to policies and procedures approved by the Board and subject to the Board's oversight. The Fund's holdings in small business loans are fair valued daily by the Adviser using a discounted cash flow methodology, as an income approach. Discounted cash flow is a valuation technique that provides an estimation of the fair value of an asset based on expectations about cash flows that a small business loan would generate over time. In general, the primary inputs of fair value in the small business loan valuation model are projected loss rate and adjusted discount rate. A discounted cash flow model begins with an estimation of periodic cash flows expected to be generated over a discrete period of time (generally the time remaining until maturity of the loan). The estimated cash flows for each interval period (generally monthly) are then converted to their present value equivalent using a rate of return appropriate for the risk of achieving projected cash flows. Although not exhaustive, discounted cash flow models factor in borrower level data. Loans made to small businesses may incorporate different factors.

Annual Report | June 30, 2026 45

RiverNorth/DoubleLine Strategic Opportunity Fund, Inc.

Notes to Financial Statements June 30, 2026

Short-term investments in fixed income securities, excluding money market funds, with maturities of less than 60 days when acquired, or which subsequently are within 60 days of maturity, and of sufficient credit quality, are valued by using the amortized cost method of valuation. These securities will be classified as Level 2 securities.

In accordance with the Fund's good faith pricing guidelines, the Adviser is required to consider all appropriate factors relevant to the value of securities for which it has determined other pricing sources are not available or reliable as described above. No single standard exists for determining fair value, because fair value depends upon the circumstances of each individual case. As a general principle, the current fair value of an issue of securities being valued by the Adviser would appear to be the amount which the owner might reasonably expect to receive for them upon their current sale. Methods which are in accordance with this principle may, for example, be based on (i) a multiple of earnings; (ii) discounted cash flow models; (iii) weighted average cost or weighted average price; (iv) a discount from market of a similar freely traded security (including a derivative security or a basket of securities traded on other markets, exchanges or among dealers); or (v) yield to maturity with respect to debt issues, or a combination of these and other methods. Good faith pricing is permitted if, in the Adviser's opinion, the validity of market quotations appears to be questionable based on factors such as evidence of a thin market in the security based on a small number of quotations, a significant event occurs after the close of a market but before the Fund's NAV calculation that may affect a security's value, or the Adviser is aware of any other data that calls into question the reliability of market quotations.

Good faith pricing may also be used in instances when the bonds in which the Fund invests default or otherwise cease to have market quotations readily available.

46 (888) 848-7569 | www.rivernorth.com

RiverNorth/DoubleLine Strategic Opportunity Fund, Inc.

Notes to Financial Statements June 30, 2026

The following is a summary of the inputs used at June 30, 2026 in valuing the Fund's assets and liabilities:

Investments in Securities at Value*

Level 1 -

Quoted Prices

Level 2 -

Other Significant Observable Inputs

Level 3 -

Significant Unobservable Inputs

Total
Closed-End Funds $ 2,154,702 $ - $ - $ 2,154,702
Bank Loans - - - -
Small Business Loans - - 64,055,654 64,055,654
Business Development Company Notes - 3,529,211 - 3,529,211
Common Stocks 912,243 3 - 912,246
Collateralized Loan Obligations - 15,704,504 - 15,704,504
Rights - 6,300 - 6,300
Warrants 6,324 26,764 - 33,088
U.S. Government / Agency Mortgage Backed Securities - 164,848,262 - 164,848,262
Foreign Corporate Bonds - 26,572 - 26,572
Non-Agency Collateralized Mortgage Obligations - 69,237,782 - 69,237,782
Short-Term Investments 10,965,377 - - 10,965,377
Total $ 14,038,646 $ 253,379,398 $ 64,055,654 $ 331,473,698
Other Financial Instruments**
Liabilities:
Future Contracts $ (149,518 ) $ - $ - $ (149,518 )
Total $ (149,518 ) $ - $ - $ (149,518 )
* Refer to the Fund's Summary Schedule of Investments for a listing of securities by type.
** Other financial instruments are derivative instruments reflected in the Summary Schedule of Investments. Futures contracts are reported at their unrealized appreciation/depreciation.
Annual Report | June 30, 2026 47

RiverNorth/DoubleLine Strategic Opportunity Fund, Inc.

Notes to Financial Statements June 30, 2026

The changes of the fair value of investments for which the Fund has used Level 3 inputs to determine the fair value are as follows:

Asset Type Balance as of June 30, 2025 Accrued Discount/ premium Return of Capital

Realized

Gain/(Loss)

Change in Unrealized Appreciation/ Depreciation Purchases Proceeds from Paydowns Transfer into Level 3

Transfer

Out of

Level 3

Balance as of June 30, 2026

Net change in unrealized appreciation/ (depreciation) included in the

Statements of Operations attributable to Level 3 investments held at June 30, 2026

Small Business Loans $ 60,747,069 $ - $ - $ (1,629,424 ) $ (1,224,082 ) $ 142,807,862 $ (136,645,771 ) $ - $ - $ 64,055,654 $ (4,478,470 )
$ 60,747,069 $ - $ - $ (1,629,424 ) $ (1,224,082 ) $ 142,807,862 $ (136,645,771 ) $ - $ - $ 64,055,654 $ (4,478,470 )

The table below provides additional information about the Level 3 Fair Value Measurements as of June 30, 2026:

Asset Class Fair Value

Valuation

Technique

Unobservable

Inputs(a)

Value/Range

(Weighted Average)

Small Business Loans $ 64,055,654 Income Approach Loss-Adjusted Discount Rate 5.62%-29.01% (11.05%)
Projected Loss Rate 0.00%-100.00% (19.51%)

(a) A change to the unobservable input may result in a significant change to the value of the investment as follows:

Unobservable Inputs Impact to Value if Input Increases Impact to Value if Input Decreases
Loss-Adjusted Discount Rate Decrease Increase
Projected Loss Rate Decrease Increase

Futures

The Fund may invest in futures contracts in accordance with its investment objectives. The Fund does so for a variety of reasons including for cash management, hedging or non-hedging purposes in an attempt to achieve the Fund's investment objective. A futures contract provides for the future sale by one party and purchase by another party of a specified quantity of the security or other financial instrument at a specified price and time. A futures contract on an index is an agreement pursuant to which two parties agree to take or make delivery of an amount of cash equal to the difference between the value of the index at the close of the last trading day of the contract and the price at which the index contract was originally written. Futures transactions may result in losses in excess of the amount invested in the futures contract. There can be no guarantee that there will be a correlation between price movements in the hedging vehicle and in the portfolio securities being hedged. An incorrect correlation could result in a loss on both the hedged securities in a fund and the hedging vehicle so that the portfolio return might have been greater had hedging not been attempted. There can be no assurance that a liquid market will exist at a time when a fund seeks to close out a futures contract or a futures option position. Lack of a liquid market for any reason may prevent a fund from liquidating an unfavorable position, and the fund would remain obligated to meet margin requirements until the position is closed. In addition, a fund could be exposed to risk if the counterparties to the contracts are unable to meet the terms of their contracts. With exchange-traded futures, there is minimal counterparty credit risk to the Fund since futures are exchange-traded and the exchange's clearinghouse, as counterparty to all exchange-traded futures, guarantees the futures against default. The Fund is party to certain enforceable master netting arrangements, which provide for the right of offset under certain circumstances, such as the event of default.

48 (888) 848-7569 | www.rivernorth.com

RiverNorth/DoubleLine Strategic Opportunity Fund, Inc.

Notes to Financial Statements June 30, 2026

When a purchase or sale of a futures contract is made by a fund, the fund is required to deposit with its custodian (or broker, if legally permitted) a specified amount of liquid assets ("initial margin"). The margin required for a futures contract is set by the exchange on which the contract is traded and may be modified during the term of the contract. The initial margin is in the nature of a performance bond or good faith deposit on the futures contract that is returned to the Fund upon termination of the contract, assuming all contractual obligations have been satisfied. These amounts are included in Deposit with broker for futures contracts on the Statement of Assets and Liabilities. Each day the Fund may pay or receive cash, called "variation margin," equal to the daily change in value of the futures contract. Such payments or receipts are recorded for financial statement purposes as unrealized gains or losses by the Fund. Variation margin does not represent a borrowing or loan by the Fund but instead is a settlement between the Fund and the broker of the amount one would owe the other if the futures contract expired. When the contract is closed, the Fund records a realized gain or loss equal to the difference between the value of the contract at the time it was opened and the value at the time it was closed.

Derivative Instruments: The following tables disclose the amounts related to the Fund's use of derivative instruments.

The effect of derivatives instruments on the Fund's Statement of Assets and Liabilities as of June 30, 2026:

Asset

Derivatives

Risk Exposure Statement Statement of Assets and Liabilities
Location 		Fair Value
Interest Rate Risk (Futures Contracts)* Variation margin receivable $ (149,518 )
* The value presented includes cumulative loss on open futures contracts; however, the value reflected on the accompanying Statement of Assets and Liabilities is variation margin receivable as of June 30, 2026.
Annual Report | June 30, 2026 49

RiverNorth/DoubleLine Strategic Opportunity Fund, Inc.

Notes to Financial Statements June 30, 2026

The effect of derivative instruments on the Statement of Operations for the year ended June 30, 2026:

Risk Exposure Statement of Operations Location

Realized

Gain/(Loss) on

Derivatives

Change in

Unrealized

Appreciation/

Depreciation

on Derivatives

Interest rate risk (Futures contracts) Net realized gain on futures contracts; Net change in unrealized appreciation/ depreciation on futures contracts $ 960,238 $ (507,531 )

The futures contracts average notional amount during the year ended June 30, 2026, are noted below:

Average Notional Amount of
Fund Futures Contracts
RiverNorth/DoubleLine Strategic Opportunity Fund $ (1,091,414 )

4. ADVISORY FEES, DIRECTOR FEES AND OTHER AGREEMENTS

RiverNorth serves as the investment adviser to the Fund. Pursuant to an investment advisory agreement with the Fund (the "Agreement"), the Adviser, subject to the supervision of the Board, provides or arranges to be provided to the Fund such investment advice as it deems advisable and will furnish or arrange to be furnished a continuous investment program for the Fund consistent with the Fund's investment objectives and policies. As compensation for its management services, the Fund is obligated to pay the Adviser a monthly management fee computed at an annual rate of 1.00% of the average daily Managed Assets of the Fund. "Managed Assets" are defined as the total assets of the Fund, including assets attributable to leverage, minus liabilities other than debt representing leverage and any preferred stock that may be outstanding. In addition to the fees of the Adviser, the Fund pays all other costs and expenses of its operations, including, but not limited to, compensation of its directors (other than those affiliated with the Adviser or the Subadviser), custodial expenses, transfer agency and dividend disbursing expenses, legal fees, expenses of independent auditors, expenses of repurchasing shares, expenses of any leverage, expenses of preparing, printing and distributing prospectuses, shareholder reports, notices, proxy statements and reports to governmental agencies, and taxes, if any. For the year ended June 30, 2026, the Adviser earned fees of $3,395,616, of which $274,503 remained payable at June 30, 2026. The Fund also accrued $33,451 in chief compliance officer ("CCO") fees, of which $13,633 remained payable at June 30, 2026.

DoubleLine Capital, LP is the investment sub-adviser to the Fund. Under the terms of the sub-advisory agreement, the Sub-Adviser, subject to the supervision of the Adviser and the Board, provides or arranges to be provided to the Fund such investment advice as deemed advisable and will furnish or arrange to be furnished a continuous investment program for the portion of assets managed in the Fund consistent with the Fund's investment objective and policies. As compensation for its sub-advisory services, the Adviser is obligated to pay the Sub-Adviser a fee payable on a monthly basis at an annual rate of 0.50% of the average daily Managed Assets of the Fund.

50 (888) 848-7569 | www.rivernorth.com

RiverNorth/DoubleLine Strategic Opportunity Fund, Inc.

Notes to Financial Statements June 30, 2026

ALPS Fund Services, Inc. ("ALPS") provides the Fund with fund administration and fund accounting services. As compensation for its services to the Fund, ALPS receives an annual fee based on the Fund's average daily net assets, subject to certain minimums.

State Street Bank & Trust, Co. serves as the Fund's custodian. Inspira Financial Trust, LLC serves as a custodian for electronic loan documents related to the Alternative Credit Strategy.

DST Systems, Inc. ("DST"), the parent company of ALPS, serves as the transfer agent to the Fund. Under a transfer agency agreement between the Fund and DST, DST is responsible for maintaining all shareholder records of the Fund. DST is a wholly-owned subsidiary of SS&C Technologies Holdings, Inc., a publicly traded company listed on the NASDAQ Global Select Market.

The Fund pays no salaries or compensation to its officers or to any interested Director employed by the Adviser or Sub-Adviser, and the Fund has no employees. Effective January 1, 2026, each Director who is not an interested Director employed by the Adviser or Sub-Adviser receives an annual retainer for his or her services in the amount of $24,500 and an additional fee of $1,500 for attending each special meeting of the Board. In addition, the lead Independent Director receives an additional $1,333 annually, the Chair of the Audit Committee receives an additional $1,111 annually and the Chair of the Nominating and Corporate Governance Committee receives an additional $667 annually.

Prior to January 1, 2026, the Directors of each Fund who are not employed by the Adviser or Sub-Adviser received an annual retainer for his or her services in the amount of $16,500, and an additional fee of $2,000 for attending each quarterly meeting of the Board and an additional fee of $1,500 for attending each special meeting of the Board. In addition, the lead Independent Director received an additional $1,333 annually, the Chair of the Audit Committee received an additional $1,111 annually and the Chair of the Nominating and Corporate Governance Committee received an additional $667 annually.

The CCO of the Fund is an employee of the Adviser. The Fund reimburses the Adviser for certain compliance costs related to the Fund, including a portion of the CCO's compensation.

5. NEW ACCOUNTING PRONOUNCEMENTS AND RULE ISSUANCES

The Fund adopted FASB Accounting Standards Update 2023-07, Segment Reporting (Topic 280) - Improvements to Reportable Segment Disclosures ("ASU 2023-07"). Adoption of the new standard impacted disclosures only and did not affect the Fund's financial position nor the results of its operations. An operating segment is defined in Topic 280 as a component of a public entity that engages in business activities from which it may recognize revenues and incur expenses, has operating results that are regularly reviewed by a public entity's chief operating decision maker (the "CODM") to make decisions about resources to be allocated to the segment and assess its performance, and has discrete financial information available. The Fund's Principal Financial Officer, acting as the Fund's CODM, has determined that the Fund has operated as a single segment since inception. The CODM monitors the operating results of the Fund, as a whole, and the Fund's long-term strategic asset allocation is pre-determined in accordance with the terms of the prospectus, based on the defined investment objectives and strategies that are executed by the Fund's portfolio management team. The financial information, in the form of the Fund's holdings, total returns, expense ratios, and changes in net assets (i.e., changes in net assets resulting from operations, subscriptions and redemptions) are used by the CODM to assess the Fund's performance versus the Fund's benchmark and to make resource allocation decisions for the Fund's segment, which is consistent with that presented within the Fund's financial statements. Segment assets are reflected on the Fund's Statement of Assets and Liabilities as "Total Assets" and significant segment expenses are listed on the Statement of Operations.

Annual Report | June 30, 2026 51

RiverNorth/DoubleLine Strategic Opportunity Fund, Inc.

Notes to Financial Statements June 30, 2026

In December 2023, the FASB issued Accounting Standards update 2023-09 ("ASU 2023-09"), Income Taxes (Topic 740) Improvements to Income Tax Disclosures, which amends quantitative and qualitative income tax disclosure requirements in order to increase disclosure consistency, bifurcate income tax information by jurisdiction and remove information that is no longer beneficial. ASU 2023-09 is effective for annual periods beginning after December 15, 2024, and early adoption is permitted. The Fund has adopted ASU 2023-09 and concluded that the application of this guidance did not have any material impact on its financial statements.

6. CREDIT AGREEMENT

The Fund may borrow money and/or issue preferred stock, notes or debt securities for investment purposes. These practices are known as leveraging. The Fund may use leverage through borrowings or the issuance of preferred stock, in an aggregate amount of up to 33 1/3% of the Fund's total assets immediately after such borrowings or issuance.

On August 1, 2023, the Fund entered into a credit agreement with BNP Paribas ("BNP Credit Agreement"). The BNP Credit Agreement permits the Fund to borrow funds that are collateralized by assets held at BNP Paribas pursuant to the agreement. Under the terms of the BNP Credit Agreement, the Fund may borrow up to $25,000,000 bearing an interest rate of the Overnight Bank Funding Rate plus a fixed rate determined by the securities pledged as collateral. Any unused portion of the BNP Credit Agreement is subject to a commitment fee of 0.50% of the unused portion of the facility until a utilization of 80% or greater is met.

The Fund did not utilize the BNP Credit Agreement for the year ended June 30, 2026. There was no outstanding balance on the BNP Credit Agreement as of June 30, 2026.

7. TAX BASIS INFORMATION

It is the Fund's policy to meet the requirements of the IRC applicable to regulated investment companies, and to distribute all of its taxable net income to its shareholders. In addition, the Fund intends to pay distributions as required to avoid imposition of excise tax. Therefore, no federal income tax provision is required.

Tax Basis of Distributions to Shareholders: The character of distributions made during the year from net investment income or net realized gains may differ from its ultimate characterization for federal income tax purposes. Also, due to the timing of dividend distributions, the fiscal year in which amounts are distributed may differ from the fiscal year in which the income or realized gains were recorded by the Fund.

52 (888) 848-7569 | www.rivernorth.com

RiverNorth/DoubleLine Strategic Opportunity Fund, Inc.

Notes to Financial Statements June 30, 2026

The tax character of the distributions paid by the Fund during the fiscal years ended June 30, 2026 and June 30, 2025, was as follows:

For the Fiscal Year Ended

June 30, 2026

For the Fiscal Year Ended

June 30, 2025

Ordinary Income $ 13,006,513 $ 17,251,082
Ordinary Income Preferred 5,010,781 4,905,979
Return of Capital 14,321,724 10,228,551
Total $ 32,339,018 $ 32,385,612

Components of Distributable Earnings on a Tax Basis: The tax components of distributable earnings are determined in accordance with income tax regulations which may differ from the composition of net assets reported under GAAP. Accordingly, for the year ended June 30, 2026, certain differences were reclassified. These differences were primarily due to book/tax distribution differences and to the different tax treatment of certain other investments; the amounts reclassified did not affect net assets. The reclassifications were as follows:

Paid-in capital Total distributable earnings (accumulated deficit)
$138,545 $(138,545)

At June 30, 2026, the components of distributable earnings on a tax basis for the Fund were as follows:

Accumulated Capital Loss $ (33,066,432 )
Unrealized Depreciation (36,099,322 )
Cumulative Effect of Other Timing Difference (715,815 )
Total $ (69,881,569 )

Under current law, capital losses maintain their character as short-term or long-term and are carried forward to the next tax year without expiration. As of the current fiscal year end, the following amounts are available as carry forwards to the next tax year:

Non-Expiring Short-Term Non-Expiring Long-Term
$ 1,851,405 $ 31,215,027
Annual Report | June 30, 2026 53

RiverNorth/DoubleLine Strategic Opportunity Fund, Inc.

Notes to Financial Statements June 30, 2026

Unrealized Appreciation and Depreciation on Investments: As of June 30, 2025, net unrealized appreciation/(depreciation) of investments based on federal tax costs was as follows:

Cost of investments for income tax purposes $ 367,573,019
Gross appreciation on investments (excess of value over tax cost) 12,447,018
Gross depreciation on investments (excess of tax cost over value) (48,546,349 )
Net appreciation of foreign currency and derivatives 9
Net unrealized depreciation on investments $ (36,099,322 )

The difference between book and tax basis unrealized appreciation/(depreciation) for the Fund is primarily attributable to wash sales, income adjustments on income-only securities and grantor trusts.

The Fund recognizes the tax benefits of uncertain tax positions only where the position is "more likely than not" to be sustained assuming examination by tax authorities. Management has analyzed the Fund's tax positions, and has concluded that no liability for unrecognized tax benefits should be recorded related to uncertain tax positions taken on U.S. tax returns and state tax returns filed since inception of the Fund. No income tax returns are currently under examination. The tax years since 2022 remain subject to examination by the tax authorities in the United States. The Fund is not aware of any tax positions for which it is reasonably possible that the total amounts of unrecognized tax benefits will change materially in the next 12 months.

8. INVESTMENT TRANSACTIONS

Investment transactions for the year ended June 30, 2026, excluding long term U.S. Government Obligations and short-term investments, were as follows:

Purchases Sales
$ 233,210,550 $ 215,169,888

Investment Transactions in long term U.S. Government Obligations for the year ended June 30, 2026 were as follows:

Proceeds from
Purchases of Sales of
Securities Securities
$ - $ 4,820,684
54 (888) 848-7569 | www.rivernorth.com

RiverNorth/DoubleLine Strategic Opportunity Fund, Inc.

Notes to Financial Statements June 30, 2026

9. PREFERRED STOCK

At June 30, 2026, the Fund had issued and outstanding 2,400,000 shares of Series A Cumulative Perpetual Preferred Stock, listed under trading symbol OPPPRA on the NYSE, with a par value of $0.0001 per share and a liquidation preference of $25.00 per share plus accrued and unpaid dividends (whether or not declared), 2,400,000 shares of Series B Cumulative Perpetual Preferred Stock, listed under trading symbol OPPPRB on the NYSE, with a par value of $0.0001 per share and a liquidation preference of $25.00 per share plus accrued and unpaid dividends (whether or not declared) and 419,206 shares of Series C Term Preferred Stock, listed under trading symbol OPPPRC on the NYSE American, with a par value of $0.0001 per share and a liquidation preference of $10.00 per share plus accrued but unpaid dividends (whether or not declared). The Fund issued 2,400,000 shares of Series A Cumulative Perpetual Preferred Stock on October 23, 2020, 2,400,000 shares of Series B Cumulative Perpetual Preferred Stock on November 22, 2021 and 419,206 shares of Series C Term Preferred Stock on December 2, 2024. The Series A Cumulative Perpetual Preferred Stock is entitled to voting rights and a dividend at a rate of 4.375% per year, paid quarterly, based on the $25.00 liquidation preference before the common stock is entitled to receive any dividends. The Series B Cumulative Perpetual Preferred Stock is entitled to voting rights and a dividend at a rate of 4.75% per year, paid quarterly, based on the $25.00 liquidation preference before the common stock is entitled to receive any dividends. The Series C Term Preferred Stock is entitled to voting rights and a dividend at a rate of 6.00% per year, paid quarterly, based on the $10.00 liquidation preference before the common stock is entitled to receive any dividends. The Series A Cumulative Perpetual Preferred Stock is generally not redeemable at the Fund's option prior to November 15, 2025, and is subject to mandatory redemption by the Fund in certain circumstances. The Series B Cumulative Perpetual Preferred Stock is generally not redeemable at the Fund's option prior to February 15, 2027, and is subject to mandatory redemption by the Fund in certain circumstances. The Series C Term Preferred Stock is not subject to optional redemption prior to December 1, 2027, unless the redemption is necessary, in the judgement of the Board, to maintain the Fund's status as a RIC under Subchapter M of the IRC. On or after November 15, 2025, the Fund may redeem in whole, or from time to time in part, outstanding Series A Cumulative Perpetual Preferred Stock at a redemption price per share equal to the per share liquidation preference of $25.00 per share, plus accumulated and unpaid dividends, if any, through the date of redemption. On or after February 15, 2027, the Fund may redeem in whole, or from time to time in part, outstanding Series B Cumulative Perpetual Preferred Stock at a redemption price per share equal to the per share liquidation preference of $25.00 per share, plus accumulated and unpaid dividends, if any, through the date of redemption. On December 1, 2027, the Fund will redeem all outstanding Series C Term Preferred Stock at a redemption price per share equal to the per share liquidation preference of $10.00 per share, plus accumulated and unpaid dividends and distributions, if any, through the date of redemption.

Series

First

Redemption Date

Fixed Rate

Shares

Outstanding

Aggregate

Liquidation

Preference

Estimated

Fair Value

Series A November 15, 2025 4.375 % 2,400,000 $ 60,000,000 $ 39,432,000
Series B February 15, 2027 4.750 % 2,400,000 $ 60,000,000 $ 41,880,000
Series C December 1, 2027 6.00 % 419,206 $ 4,192,060 $ 4,288,477

10. CAPITAL SHARE TRANSACTIONS

The Fund's authorized capital stock consists of 50,000,000 shares of common stock, $0.0001 par value per share, all of which was initially classified as common shares. Of the 50,000,000 authorized shares of common stock, 2,530,000 shares have been reclassified as Series A Preferred Stock, and 2,400,000 shares have been reclassified as Series B Preferred Stock and 5,743,500 have been reclassified as Series C Preferred Stock. Under the rules of the NYSE applicable to listed companies, the Fund is required to hold an annual meeting of stockholders in each year.

Annual Report | June 30, 2026 55

RiverNorth/DoubleLine Strategic Opportunity Fund, Inc.

Notes to Financial Statements June 30, 2026

On August 12-13, 2025, the Board approved rights offerings to participating shareholders of record who were allowed to subscribe for new common shares of the Fund. Record date shareholders received one right for each Common Share held on record date ("Right"). For every three Rights held, a holder of the rights record date shareholder was entitled to buy one new common shares of the Fund. The Fund issued new shares of common stock at a subscription price that represented 90% of the reported NAV on the expiration date of each rights offering. Offering costs were charged to paid-in-capital-upon the exercise of the rights.

On August 13-14, 2024, the Board approved rights offerings to participating shareholders of record who were allowed to subscribe for new common shares of the Fund (the "Primary Subscription"). Record date shareholders received one right for each Common Share held on record date ("Right"). For every six Rights held, a holder of the rights record date shareholder was entitled to buy two new common shares of the Fund and one new Series C Term Preferred share of the Fund. Record date shareholders who fully exercise their Rights in the Primary Subscription will bewere entitled to subscribe for additional common shares. The Fund issued new shares of common stock at a subscription price that represented 90% of the reported NAV on the expiration date of each rights offering. Offering costs were charged to paid-in-capital-upon the exercise of the rights.

On August 12-13, 2020, August 10-11, 2021 and August 9-10, 2022, respectively, the Board approved rights offerings to participating shareholders of record who were allowed to subscribe for new common shares of the Fund (the "Primary Subscription"). Record date shareholders received one right for each common share held on the Record Date ("Right"). For every three Rights held, a holder of the Rights was entitled to buy one new common share of the Fund. Record date shareholders who fully exercised all Rights initially issued to them in the Primary Subscription were entitled to buy those common shares that were not purchased by other record date shareholders. The Fund issued new shares of common stock at a subscription price that represented 92.5% to 97.5% of the reported NAV on the expiration date of each rights offering. Offering costs were charged to paid-in-capital upon the exercise of the Rights.

The shares of common stock issued, subscription price, and offering costs for the rights offerings were as follows:

Record Date Expiration Date

Shares of

Common

Stock Issued

Subscription

Price

Offering

Costs

September 3, 2020 October 1, 2020 472,995 $ 13.88 $ 122,545
September 7, 2021 October 1, 2021 2,926,441 $ 14.48 $ 292,000
August 25, 2022 September 23, 2022 3,508,633 $ 9.70 $ 122,884
November 5, 2024 November 25, 2024 838,412 $ 8.42 $ 250,000
October 24, 2025 November 18, 2025 1,180,525 $ 7.94 $ 194,182

On April 7, 2021 and December 29, 2021, the Fund entered into a distribution agreement with ALPS Distributors, Inc. ("ADI") under which the Fund may offer to sell up to 10,000,000 shares of the Fund's common stock from time to time in an "at the market" offering. On May 20, 2025, the Fund entered into a new distribution agreement with ADI, replacing the previous agreement, pursuant to which the Fund may offer and sell up to 10,000,000 shares of the Fund's common stock from time to time through ADI.

56 (888) 848-7569 | www.rivernorth.com
RiverNorth/DoubleLine Strategic Opportunity Fund, Inc.
Notes to Financial Statements June 30, 2026

There were no shares issued through the at-the-market offering during the year ended June 30, 2026. The Fund has issued and outstanding 24,990,131 shares of common stock at June 30, 2026.

Additional shares of the Fund may be issued under certain circumstances, including pursuant to the Fund's automatic dividend reinvestment plan (the "Plan"). Additional information concerning the Plan is included within this report.

11. INDEMNIFICATIONS

Under the Fund's organizational documents, its Officers and Directors are indemnified against certain liabilities arising out of the performance of their duties to the Fund. Additionally, in the normal course of business, the Fund enters into contracts with service providers that may contain general indemnification clauses. The Fund's maximum exposure under those arrangements is unknown, as this would involve future claims that may be made against the Fund that have not yet occurred.

12. SUBSEQUENT EVENTS

Effective July 1, 2026, the Fund terminated the Loan Purchasing and Servicing Agreement with Square Financial Services, Inc.

Subsequent to June 30, 2026, the Fund paid the following distributions:

Ex-Date Record Date Payable Date Rate (per share)
July 15, 2026 July 15, 2026 July 31, 2026 $0.0910
August 14, 2026 August 14, 2025 August 31, 2026 $0.0910

On July 16, 2026, the Board declared Series A, Series B and Series C Preferred Stock dividends in the amount of $0.27344, 0.29688 and $0.15 per share, respectively, payable on August 14, 2026 to preferred shareholders of record on August 3, 2026 with an ex date of August 3, 2026.

The Fund has performed an evaluation of subsequent events through the date the financial statements were issued and has determined that no additional items require recognition or disclosure.

Annual Report | June 30, 2026 57

RiverNorth/DoubleLine Strategic Opportunity Fund, Inc.

Report of Independent Registered Public Accounting Firm

To the Shareholders and the Board of Directors

RiverNorth/DoubleLine Strategic Opportunity Fund, Inc.:

Opinion on the Financial Statements

We have audited the accompanying statement of assets and liabilities of RiverNorth/DoubleLine Strategic Opportunity Fund, Inc. (the Fund), including the summary schedule of investments, as of June 30, 2026, the related statements of operations and cash flows for the year then ended, the statements of changes in net assets for each of the years in the two-year period then ended, and the related notes (collectively, the financial statements) and the financial highlights for each of the years in the four-year period then ended. In our opinion, the financial statements and financial highlights present fairly, in all material respects, the financial position of the Fund as of June 30, 2026, the results of its operations and its cash flows for the year then ended, the changes in its net assets for each of the years in the two-year period then ended, and the financial highlights for each of the years in the four-year period then ended, in conformity with U.S. generally accepted accounting principles. The financial highlights for the years ended June 30, 2022, and prior were audited by other independent registered public accountants whose report, dated August 29, 2022, expressed an unqualified opinion on those financial highlights.

Basis for Opinion

These financial statements and financial highlights are the responsibility of the Fund's management. Our responsibility is to express an opinion on these financial statements and financial highlights based on our audits. We are a public accounting firm registered with the Public Company Accounting Oversight Board (United States) (PCAOB) and are required to be independent with respect to the Fund in accordance with the U.S. federal securities laws and the applicable rules and regulations of the Securities and Exchange Commission and the PCAOB.

We conducted our audits in accordance with the standards of the PCAOB. Those standards require that we plan and perform the audit to obtain reasonable assurance about whether the financial statements and financial highlights are free of material misstatement, whether due to error or fraud. Our audits included performing procedures to assess the risks of material misstatement of the financial statements and financial highlights, whether due to error or fraud, and performing procedures that respond to those risks. Such procedures included examining, on a test basis, evidence regarding the amounts and disclosures in the financial statements and financial highlights. Such procedures also included confirmation of securities owned as of June 30, 2026, by correspondence with custodians and brokers; when replies were not received from brokers, we performed other auditing procedures. Our audits also included evaluating the accounting principles used and significant estimates made by management, as well as evaluating the overall presentation of the financial statements and financial highlights. We believe that our audits provide a reasonable basis for our opinion.

We have served as the auditor of one or more RiverNorth investment companies since 2015.

Chicago, Illinois

August 28, 2026

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RiverNorth/DoubleLine Strategic Opportunity Fund, Inc.

Dividend Reinvestment Plan June 30, 2026 (Unaudited)

The Fund has an automatic dividend reinvestment plan (the "Plan") commonly referred to as an "opt-out" plan. Unless the registered owner of common shares elects to receive cash by contacting DST Systems, Inc. (the "Plan Administrator"), all dividends and distributions declared on common shares will be automatically reinvested by the Plan Administrator for shareholders in the Plan, in additional common shares. Common shareholders who elect not to participate in the Plan will receive all dividends and other distributions in cash paid by check mailed directly to the shareholder of record (or, if the common shares are held in street or other nominee name, then to such nominee) by the Plan Administrator as dividend disbursing agent. Participation in the Plan is completely voluntary and may be terminated or resumed at any time without penalty by notice if received and processed by the Plan Administrator prior to the dividend record date; otherwise such termination or resumption will be effective with respect to any subsequently declared dividend or other distribution. Such notice will be effective with respect to a particular dividend or other distribution (together, a "Dividend"). Some brokers may automatically elect to receive cash on behalf of common shareholders and may re-invest that cash in additional common shares. Reinvested Dividends will increase the Fund's Managed Assets on which the management fee is payable to the Adviser (and by the Adviser to the Sub-Adviser).

Whenever the Fund declares a Dividend payable in cash, non-participants in the Plan will receive cash and participants in the Plan will receive the equivalent in common shares. The common shares will be acquired by the Plan Administrator for the participants' accounts, depending upon the circumstances described below, either (i) through receipt of additional unissued but authorized common shares from the Fund ("Newly Issued Common Shares") or (ii) by purchase of outstanding common shares on the open market ("Open-Market Purchases") on the NYSE or elsewhere. If, on the payment date for any Dividend, the closing market price plus estimated brokerage commissions per common share is equal to or greater than the NAV per common share, the Plan Administrator will invest the Dividend amount in Newly Issued common shares on behalf of the participants. The number of Newly Issued common shares to be credited to each participant's account will be determined by dividing the dollar amount of the Dividend by the Fund's NAV per common share on the payment date. If, on the payment date for any Dividend, the NAV per common share is greater than the closing market value plus estimated brokerage commissions (i.e., the Fund's common shares are trading at a discount), the Plan Administrator will invest the Dividend amount in common shares acquired on behalf of the participants in Open-Market Purchases.

In the event of a market discount on the payment date for any Dividend, the Plan Administrator will have until the last business day before the next date on which the common shares trade on an "ex-dividend" basis or 30 days after the payment date for such Dividend, whichever is sooner (the "Last Purchase Date"), to invest the Dividend amount in common shares acquired in Open-Market Purchases. It is contemplated that the Fund will pay monthly income Dividends. If, before the Plan Administrator has completed its Open-Market Purchases, the market price per common share exceeds the NAV per common share, the average per common share purchase price paid by the Plan Administrator may exceed the NAV of the common shares, resulting in the acquisition of fewer common shares than if the Dividend had been paid in Newly Issued common shares on the Dividend payment date. Because of the foregoing difficulty with respect to Open-Market Purchases, the Plan provides that if the Plan Administrator is unable to invest the full Dividend amount in Open-Market Purchases during the purchase period or if the market discount shifts to a market premium during the purchase period, the Plan Administrator may cease making Open-Market Purchases and may invest the uninvested portion of the Dividend amount in Newly Issued common shares at the NAV per common share at the close of business on the Last Purchase Date.

Annual Report | June 30, 2026 59

RiverNorth/DoubleLine Strategic Opportunity Fund, Inc.

Dividend Reinvestment Plan June 30, 2026 (Unaudited)

The Plan Administrator maintains all shareholders' accounts in the Plan and furnishes written confirmation of all transactions in the accounts, including information needed by shareholders for tax records. Common shares in the account of each Plan participant will be held by the Plan Administrator on behalf of the Plan participant, and each shareholder proxy will include those shares purchased or received pursuant to the Plan. The Plan Administrator will forward all proxy solicitation materials to participants and vote proxies for shares held under the Plan in accordance with the instructions of the participants.

Although participants may from time to time have an undivided fractional interest (computed to three decimal places) in a share of Common Shares, no certificates for a fractional share will need to be issued. However, distributions on fractional shares will be credited to participant accounts. In the event of the termination of a participant's account under the Plan the Plan Administrator will adjust for any such undivided fractional interest in cash at the market value of the Fund's shares at the time of termination less the pro rata expense of any sale required to make such an adjustment.

Beneficial owners of common shares who hold their common shares in the name of a broker or nominee should contact the broker or nominee to determine whether and how they may participate in the Plan. In the case of common shareholders such as banks, brokers or nominees which hold shares for others who are the beneficial owners, the Plan Administrator will administer the Plan on the basis of the number of common shares certified from time to time by the record shareholder's name and held for the account of beneficial owners who participate in the Plan.

There will be no brokerage charges with respect to common shares issued directly by the Fund. However, each participant will pay a pro rata share of brokerage commissions incurred in connection with Open-Market Purchases. The automatic reinvestment of Dividends will not relieve participants of any federal, state or local income tax that may be payable (or required to be withheld) on such Dividends, even though such participants have not received any cash with which to pay the resulting tax. Participants that request a sale of common shares through the Plan Administrator are subject to brokerage commissions.

The Fund reserves the right to amend or terminate the Plan. There is no direct service charge to participants with regard to purchases in the Plan; however, the Fund reserves the right to amend the Plan to include a service charge payable by the participants. All correspondence or questions concerning the Plan should be directed to the Plan Administrator at (844) 569-4750.

60 (888) 848-7569 | www.rivernorth.com

RiverNorth/DoubleLine Strategic Opportunity Fund, Inc.

Summary of Updated Information Regarding the Fund June 30, 2026 (Unaudited)

The following information in this annual report is a summary of certain information about the Fund and changes since the Fund's most recent annual report for the fiscal year ended June 30, 2025 (the "prior disclosure date"). This information may not reflect all of the changes that have occurred since you purchased the Fund.

Summary of Fund Expenses

The following table shows estimated Fund expenses as a percentage of net assets attributable to Common Shares. The expenses shown in the table and related footnotes, along with the example, are based on the Fund's capital structure as of June 30, 2026. Actual expenses may be greater or less than those shown below. The purpose of the table and the example below is to help investors understand the fees and expenses that they, as Common Shareholders, would bear directly or indirectly. The expenses shown in the table under "Other Expenses" and "Total Annual Expenses" assume that the Fund has not issued any additional Common Shares.

Common Shareholder Transaction Expenses

As a Percentage of

Offering Price

Sales Load - %*
Offering Expenses Borne by Common Shareholders of the Fund - %*
Dividend Reinvestment Plan Fees - (1)*
Preferred Shares Offering Expenses Borne by the Fund (as a percentage of net assets attributable to Common Shares) - %*

As a Percentage

of Net Assets

Attributable to

Common Shares

(Assuming the

Use of Leverage

Equal to 37.25%

of the Fund's

Managed Assets)

Annual Expenses
Management Fee (2) 1.59 %
Leverage Costs(3) 0.05 %
Dividends on Preferred Shares (4) 2.68 %
Other Expenses (5) 1.16 %
Acquired Fund Fees and Expenses (6) 0.05 %
Total Annual Expenses 5.53 %
Annual Report | June 30, 2026 61

RiverNorth/DoubleLine Strategic Opportunity Fund, Inc.

Summary of Updated Information Regarding the Fund June 30, 2026 (Unaudited)

Example(7)

The example illustrates the expenses that you would pay on a $1,000 investment in Common Shares in the offering, assuming (1) that the Fund incurs total annual expenses of 5.53% of its net assets in years 1 through 10 and (2) a 5% annual return

1 year 3 years 5 years 10 years
Total Expenses Incurred $55 $165 $273 $539

The example should not be considered a representation of future expenses. Actual expenses may be greater or less than those assumed.

* The applicable prospectus supplement to be used in connection with any sales of Common Shares or Preferred Shares will set forth any applicable sales load and the estimated offering expenses borne by the Fund under an Offering.
(1) There will be no brokerage charges with respect to Common Shares issued directly by the Fund under the dividend reinvestment plan. You may pay brokerage charges in connection with Open-Market Purchases or if you direct the plan agent to sell your Common Shares held in a dividend reinvestment account.
(2) The management fee is charged as a percentage of the Fund's average daily Managed Assets, as opposed to net assets. With leverage, Managed Assets are greater in amount than net assets, because Managed Assets include borrowings for investment purposes. The market value of the Fund's derivatives are used for purposes of calculating Managed Assets. The management fee of 1.00% of the Fund's Managed Assets represents 1.59% of net assets attributable to Common Shares assuming the use of leverage in an amount of 37.25% of the Fund's Managed Assets. The Fund's Managed Assets for the fiscal year ended June 30, 2026 (which includes the use of leverage discussed in footnote (3) were multiplied by the annual advisory fee rate and then divided by the Fund's average net assets for the same period to calculate the management fee as a percentage of the Fund's net assets attributable to Common Shares. Since the Fund has Preferred Shares outstanding, the management fee and certain other expenses as a percentage of net assets attributable to Common Shares is higher than if the Fund did not utilize a leveraged capital structure.
(3) "Leverage costs" are estimated to reflect actual leverage outstanding as of June 30, 2026 and estimated interest and associated costs. Actual leverage costs incurred in the future may be higher or lower as the actual amount of interest expense borne by the Fund will vary over time in accordance with the level of the Fund's use of leverage and variations in market interest rates. See "Use of Leverage."
(4) Dividends on Preferred Shares represent the estimated dividend expense adjusted to assume 2,400,000 shares of 4.375% Series A Preferred Stock with a liquidation preference of $60,000,000, 2,400,000 shares of 4.75% Series B Preferred Stock with a liquidation preference of $60,000,000, and 419,206 shares of 6.00%, 3-Year Term, Series C Preferred Stock with a liquidation preference of $4,192,060. The table assumes the use of leverage representing 37.25% of Managed Assets, which reflects approximately the percentage of the Fund's total average Managed Assets attributable to such leverage averaged over the year ended June 30, 2026, at a weighted average annual expense to the Fund of 4.61%.
62 (888) 848-7569 | www.rivernorth.com

RiverNorth/DoubleLine Strategic Opportunity Fund, Inc.

Summary of Updated Information Regarding the Fund June 30, 2026 (Unaudited)
(5) Includes $1,104,539 of loan service fees in connection with the Fund's investments in Alternative Credit Instruments for the year ended June 30, 2026. Loan service fees relate to the Fund's investment in Square Loans and are not related to any leverage expenses. The loan service fees are the cost associated with the originator's ongoing collection and remittance of payments related to the Alternative Credit Instruments.
(6) The "Acquired Fund Fees and Expenses" are based on the expense ratios for the most recent fiscal year of the Underlying Funds (defined below) in which the Fund has invested, which may change substantially over time and, therefore, significantly affect "Acquired fund fees and expenses." These amounts are based on the total expense ratio disclosed in each Underlying Fund's most recent shareholder report. Some of the Underlying Funds in which the Fund invests (or may invest) charge incentive fees based on the Underlying Funds' performance. The 0.05% shown as "Acquired Fund Fees and Expenses" reflects the operating expenses of the Underlying Funds and transaction-related fees. Certain Underlying Funds in which the Fund invests (or may invest) generally charge a management fee of 1.00% to 2.00% and may charge up to a 20% incentive fee on income and/or capital gains, which are included in "Acquired Fund Fees and Expenses," as applicable. The "Acquired Fund Fees and Expenses" disclosed above, however, do not reflect any performance based fees or allocations paid by the Underlying Funds that are calculated solely on the realization and/or distribution of gains, or on the sum of such gains and unrealized appreciation of assets distributed in kind, as such fees and allocations for a particular period may be unrelated to the cost of investing in the Underlying Funds. Future Underlying Funds' fees and expenses may be substantially higher or lower because certain fees may be based on the performance of the Underlying Funds, which may fluctuate over time. Acquired Fund Fees and Expenses are borne indirectly by the Fund, but they are not reflected in the Fund's financial statements; and the information presented in the table will differ from that presented in the Fund's financial highlights.
(7) The example does not include sales load or estimated offering costs. The example should not be considered a representation of future expenses. The example assumes that the estimated "Other Expenses" set forth in the table are accurate and that all dividends and distributions are reinvested at net asset value and that the Fund is engaged in leverage of 37.25% of Managed Assets, assuming interest and fees on leverage of 4.61%, including the interest and unused borrowing fee paid on the line of credit under the BNP Credit Agreement (defined below), as well as the Fund's continued use of Preferred Shares. The cost of leverage is expressed as a blended interest/dividend rate, representing the weighted average cost of the Fund's leverage, including borrowings under the BNP Credit Agreement and dividends on the Fund's Preferred Shares. Actual expenses may be greater or less than those shown. Moreover, the Fund's actual rate of return may be greater or less than the hypothetical 5% annual return shown in the example.

Investment Objectives

There have been no changes in the Fund's investment objectives since the prior disclosure date.

The Fund's investment objective is current income and overall total return.

Annual Report | June 30, 2026 63

RiverNorth/DoubleLine Strategic Opportunity Fund, Inc.

Summary of Updated Information Regarding the Fund June 30, 2026 (Unaudited)

Principal Investment Strategies and Policies

On July 1, 2026, the Fund terminated its Loan Purchasing Agreement with Square Capital. As a result of such termination, the Fund's investments in loans to small and medium size enterprises ("SMEs") under its Alternative Credit Strategy is expected to decline as a result. Therefore, the Fund may reallocate assets to other strategies. There have been no other material changes to the Fund's principal investment strategies since the prior disclosure date.

The Fund seeks to achieve its investment objective by allocating its Managed Assets between the three principal strategies described below. The Adviser determines the portion of the Fund's Managed Assets to allocate to each strategy and may, from time to time, adjust the allocations.

Tactical Closed-End Fund Income Strategy. This strategy seeks to (i) generate returns through investments in closed-end funds ("CEFs"), special purpose acquisition companies ("SPACs"), exchange-traded funds ("ETFs") and business development companies ("BDCs," and, together with the Fund's investments in CEFs, SPACs and ETFs, the "Underlying Funds") that invest primarily in income-producing securities, and (ii) derive value from the discount and premium spreads associated with CEFs. All Underlying Funds in which the Fund invests are registered under the Securities Act of 1933, as amended.

Under normal market conditions: (i) no more than 20% of the Fund's Managed Assets allocated to the Tactical Closed-End Fund Income Strategy is invested in "equity" Underlying Funds; (ii) no more than 60% of the Fund's Managed Assets allocated to the Tactical Closed-End Fund Income Strategy is invested in below investment grade (also known as "high yield" and "junk") and "senior loan" Underlying Funds; and (iii) no more than 25% of the Fund's Managed Assets allocated to the Tactical Closed-End Fund Income Strategy is invested in "emerging market income" Underlying Funds. The Fund will also limit its investments in CEFs (including BDCs) that have been in operation for less than one year to no more than 10% of the Fund's Managed Assets allocated to the Tactical Closed-End Fund Income Strategy. The Fund will not invest in inverse ETFs or leveraged ETFs. The types of Underlying Funds referenced in this paragraph are categorized in accordance with the fund categories established and maintained by Morningstar, Inc. The investment parameters stated above (and elsewhere in this disclosure) apply only at the time of purchase. The Fund's shareholders indirectly bear the expenses, including the management fees, of the Underlying Funds.

The Underlying Funds in which the Adviser seeks to invest will generally focus on a broad range of fixed income securities or sectors, including Underlying Funds that invest in the following securities or sectors: convertible securities, preferred stocks, high yield securities, exchange-traded notes, structured notes, dividend strategies, covered call option strategies, real estate-related investments, energy, utility and other income-oriented strategies. In addition, the Fund may invest directly in debt securities issued by certain credit-oriented, unlisted Underlying Funds, including BDCs, identified by the Adviser in its due diligence process ("Private Debt"). The Adviser believes investments in Private Debt can provide the Fund with the opportunity to obtain more favorable terms than similar publicly traded debt investments with similar risk profiles.

The Fund may invest in Underlying Funds that invest in securities that are rated below investment grade, including those receiving the lowest ratings from S&P® Global Ratings Services ("S&P"), Fitch Ratings, a part of the Fitch Group ("Fitch"), or Moody's Investor Services, Inc. ("Moody's"), or comparably rated by another nationally recognized statistical rating organization ("NRSRO") or, if unrated, determined by the Adviser or the Subadviser to be of comparable credit quality, which indicates that the security is in default or has little prospect for full recovery of principal or interest. Below investment grade securities are commonly referred to as "junk" and "high yield" securities. Below investment grade securities are considered speculative with respect to the issuer's capacity to pay interest and repay principal. Lower rated below investment grade securities are considered more vulnerable to nonpayment than other below investment grade securities and their issuers are more dependent on favorable business, financial and economic conditions to meet their financial commitments. The lowest rated below investment grade securities are typically already in default.

64 (888) 848-7569 | www.rivernorth.com

RiverNorth/DoubleLine Strategic Opportunity Fund, Inc.

Summary of Updated Information Regarding the Fund June 30, 2026 (Unaudited)

The Underlying Funds in which the Fund invests will not include those that are advised or subadvised by the Adviser, the Subadviser or their affiliates.

Under normal circumstances, the Fund intends to maintain long positions in Underlying Funds and other portfolio securities; however, the Fund may at times establish hedging positions. Hedging positions may include short sales and derivatives, such as options, futures and swaps ("Hedging Positions"). Under normal market conditions, no more than 30% of the Fund's Managed Assets is in Hedging Positions (as determined based on the market value of such Hedging Positions).

A short sale is a transaction in which the Fund sells a security that it does not own in anticipation of a decline in the market price of the security. The Fund will not engage in any short sales of securities issued by CEFs and BDCs. To complete the short sale, the Fund must arrange through a broker to borrow the security in order to deliver it to the buyer. The Fund is obligated to replace the borrowed security by purchasing it at a market price at or prior to the time it must be returned to the lender. The price at which the Fund is required to replace the borrowed security may be more or less than the price at which the security was sold by the Fund. The Fund will incur a loss if the price of the security sold short increases between the date of the short sale and the date on which the Fund replaces the borrowed security. The Fund will realize a gain if the price of the security declines between those dates.

Under the Tactical Closed-End Fund Income Strategy, the Fund also may attempt to enhance the return on the cash portion of its portfolio by investing in total return swap agreements. A total return swap agreement provides the Fund with a return based on the performance of an underlying asset, in exchange for fee payments to a counterparty based on a specific rate. The difference in the value of these income streams is recorded daily by the Fund, and is typically settled in cash at least monthly. If the underlying asset declines in value over the term of the swap, the Fund would be required to pay the dollar value of that decline plus any applicable fees to the counterparty. The Fund may use its own NAV or any other reference asset that the Adviser chooses as the underlying asset in a total return swap. The Fund will limit the notional amount of all total return swaps in the aggregate to 15% of the Fund's Managed Assets. Using the Fund's own NAV as the underlying asset in the total return swap serves to reduce cash drag (the impact of cash on the Fund's overall return) by replacing it with the impact of market exposure based upon the Fund's own investment holdings. This type of total return swap would provide the Fund with a return based on its NAV. Like any total return swap, the Fund would be subject to counterparty risk and the risk that its own NAV declines in value.

Annual Report | June 30, 2026 65

RiverNorth/DoubleLine Strategic Opportunity Fund, Inc.

Summary of Updated Information Regarding the Fund June 30, 2026 (Unaudited)

The Fund anticipates that its SPAC investments will be primarily composed of: (i) units issued by SPACs comprised of common stock and warrants to purchase common stock; (ii) common stock issued by SPACs, including "founder" shares; and (iii) warrants to purchase common stock, including "founder" warrants. In addition, the Fund's SPAC investments could also consist of debt instruments issued by SPACs; securities of other investment companies that primarily invest in SPACs; and securities of SPACs that have completed a business combination transaction with an operating company within the last two calendar years.

The Fund's SPAC investments may be obtained (among other means) through initial public offerings of SPACs; secondary market transactions; private placements, including private investment in public equity transactions and investments in vehicles formed by SPAC sponsors to hold founder shares and founder warrants; and/or forward purchase agreements pursuant to which investors commit to purchasing a SPAC's securities to the extent the SPAC requires additional funding at the time of a business combination. Through its investments in SPACs, the Fund will seek to (i) obtain attractive risk-adjusted investment returns, and (ii) derive value from buying and selling SPAC securities to take advantage of pricing discrepancies in the SPAC market (e.g., the difference between the price of a SPAC security and the pro rata value of the SPAC's trust account).

The SPACs in which the Fund may invest may focus on a broad range of industries and sectors and may generally pursue initial business combinations in any business, industry or geographic location, including outside of the United States. Certain SPACs may seek acquisitions only in limited industries or regions, which may increase the volatility of their securities' prices.

Opportunistic Income Strategy. This strategy seeks to generate attractive risk-adjusted returns through investments in fixed income instruments and other investments, including agency and non-agency residential mortgage-backed and other asset-backed securities, corporate bonds, municipal bonds, and real estate investment trusts ("REITs"). At least 50% of the Managed Assets allocated to this strategy is invested in mortgage-backed securities.

Under this strategy, the Fund may invest in securities of any credit quality, including, without limit, securities that are rated below investment grade, except that the Fund invests at least 20% of the Managed Assets allocated to this strategy in securities rated investment grade (or unrated securities judged by the Subadviser to be of comparable quality). In addition, the Subadviser does not currently expect that the Fund will invest more than 15% of the Managed Assets allocated to this strategy in corporate debt securities (excluding mortgage-backed securities) or sovereign debt instruments rated below B3 by Moody's and below B- by S&P or Fitch (or unrated securities determined by the Subadviser to be of comparable quality). The Fund's investments in below investment grade securities under this strategy may include securities receiving the lowest ratings from S&P (i.e., D-), Fitch (i.e., D-) or Moody's (i.e., C3), or comparably rated by another NRSRO or, if unrated, determined by the Adviser or Subadviser to be of comparable credit quality, which indicates that the security is in default or has little prospect for full recovery of principal or interest. Below investment grade securities are commonly referred to as "junk" and "high yield" securities. Below investment grade securities are considered speculative with respect to the issuer's capacity to pay interest and repay principal. Lower rated below investment grade securities are considered more vulnerable to nonpayment than other below investment grade securities and their issuers are more dependent on favorable business, financial and economic conditions to meet their financial commitments. The lowest rated below investment grade securities are typically already in default.

66 (888) 848-7569 | www.rivernorth.com

RiverNorth/DoubleLine Strategic Opportunity Fund, Inc.

Summary of Updated Information Regarding the Fund June 30, 2026 (Unaudited)

The Fund invests no more than 20% of its Managed Assets allocated to the Opportunistic Income Strategy in non-U.S. investments, including emerging market investments.

Investments under the Opportunistic Income Strategy may include, without limitation as to the Fund's Managed Assets allocated to this strategy, mortgage-backed securities, including agency and non-agency residential mortgage-backed securities ("RMBS").

Investments under the Opportunistic Income Strategy may include mortgage- or asset-backed securities of any kind, including, by way of example, mortgage- or asset-related securities not subject to the credit support of the U.S. Government or any agency or instrumentality of the U.S. Government, including obligations backed or supported by sub-prime mortgages, which are subject to certain special risks.

Mortgage- or asset-backed securities may include, among other things, securities issued or guaranteed by the United States Government, its agencies, or its instrumentalities or sponsored corporations, or securities of domestic or foreign private issuers. Mortgage- or asset-backed securities may be issued or guaranteed by banks or other financial institutions, special-purpose vehicles established for such purpose, or private issuers, or by government agencies or instrumentalities. Privately issued mortgage-backed securities include any mortgage-backed security other than those issued or guaranteed as to principal or interest by the U.S. Government or its agencies or instrumentalities. Mortgage-backed securities may include, without limitation, interests in pools of residential mortgages or commercial mortgages, and may relate to domestic or non-U.S. mortgages. Mortgage-backed securities include, but are not limited to, securities representing interests in, collateralized or backed by, or whose values are determined in whole or in part by reference to any number of mortgages or pools of mortgages or the payment experience of such mortgages or pools of mortgages, including Real Estate Mortgage Investment Conduits ("REMICs"), which could include resecuritizations of REMICs, mortgage pass-through securities, inverse floaters, collateralized mortgage obligations, collateralized loan obligations, collateralized debt obligations, multiclass pass-through securities, private mortgage pass-through securities, stripped mortgage securities (generally interest-only and principal-only securities), and securitizations of various receivables, including, for example, credit card and automobile finance receivables. Certain mortgage-backed securities in which the Fund may invest may represent an inverse interest-only class of security for which the holders are entitled to receive no payments of principal and are entitled only to receive interest at a rate that will vary inversely with a specified index or reference rate, or a multiple thereof.

The Fund may purchase other types of debt securities and other income-producing investments of any kind, including, by way of example, U.S. Government securities; debt securities issued by domestic or foreign corporations; obligations of foreign sovereigns or their agencies or instrumentalities; equity, mortgage, or hybrid REIT securities; bank loans (including, among others, participations, assignments, senior loans, delayed funding loans and revolving credit facilities); municipal securities and other debt securities issued by states or local governments and their agencies, authorities and other government-sponsored enterprises.

Alternative Credit Strategy. This strategy may invest in a combination of: investing in loans to SMEs; investing in notes or other pass-through obligations issued by an alternative credit platform (or an affiliate) representing the right to receive the principal and interest payments on an Alternative Credit investment (or fractional portions thereof) originated through the platform ("Pass-Through Notes"); purchasing asset-backed securities representing ownership in a pool of Alternative Credit (the foregoing listed investments are collectively referred to herein as the "Alternative Credit Instruments").

Annual Report | June 30, 2026 67

RiverNorth/DoubleLine Strategic Opportunity Fund, Inc.

Summary of Updated Information Regarding the Fund June 30, 2026 (Unaudited)

The Alternative Credit in which the Fund typically invests are newly issued and/or current as to interest and principal payments at the time of investment. Unless the context suggests otherwise, all references to loans generally refer to Alternative Credit. Alternative Credit Instruments are generally not rated by the NRSROs. The Alternative Credit Instruments in which the Fund may invest may have varying degrees of credit risk. There can be no assurance that payments due on underlying Alternative Credit investments will be made. At any given time, the Fund's portfolio may be substantially illiquid and subject to increased credit and default risk. If a borrower is unable to make its payments on a loan, the Fund may be greatly limited in its ability to recover any outstanding principal and interest under such loan.

While, under normal circumstances, the Adviser does not provide instructions to the platforms as to any individual criterion used to determine platform-specific grades prior to purchasing Alternative Credit (except as noted below), the Adviser does retain the flexibility to provide more specific instructions (e.g., term; interest rate; geographic location of borrower) if the Adviser believes that investment circumstances dictate any such further instructions. Specifically, the Adviser instructs platforms that the Fund will not purchase any Alternative Credit that are of "subprime quality" (as determined at the time of investment). Although there is no specific legal or market definition of subprime quality, it is generally understood in the industry to signify that there is a material likelihood that the loan will not be repaid in full. The Fund considers an SME loan to be of "subprime quality" if the likelihood of repayment on such loan is determined by the Adviser based on its due diligence and the credit underwriting policies of the originating platform to be similar to that of consumer loans that are of subprime quality. The Fund does not currently have any intention to invest in Alternative Credit originated from lending platforms based outside the United States or made to non-U.S. borrowers. In determining whether an SME loan is of subprime quality, the Adviser generally looks to a number of borrower-specific factors, which will include the payment history of the borrower and, as available, financial statements, tax returns and sales data. The Adviser will not invest the Fund's assets in loans originated by platforms for which the Adviser cannot evaluate to its satisfaction the completeness and accuracy of the individual Alternative Credit investment data provided by such platform relevant to determining the existence and valuation of such Alternative Credit investment and utilized in the accounting of the loans (i.e., in order to select a platform, the Adviser must assess that it believes all relevant loan data for all loans purchased from the platform is included and correct).

"Managed Assets" means the total assets of the Fund, including assets attributable to leverage, minus liabilities (other than debt representing leverage and any preferred stock that may be outstanding).

In addition to the foregoing principal investment strategies of the Fund, the Adviser also may allocate the Fund's Managed Assets among cash and short-term investments. There are no limits on the Fund's portfolio turnover, and the Fund may buy and sell securities to take advantage of potential short-term trading opportunities without regard to length of time and when the Adviser or Subadviser believes investment considerations warrant such action. High portfolio turnover may result in the realization of net short-term capital gains by the Fund which, when distributed to Common Shareholders, will be taxable as ordinary income. In addition, a higher portfolio turnover rate results in correspondingly greater brokerage commissions and other transactional expenses that are borne by the Fund.

68 (888) 848-7569 | www.rivernorth.com

RiverNorth/DoubleLine Strategic Opportunity Fund, Inc.

Summary of Updated Information Regarding the Fund June 30, 2026 (Unaudited)

All percentage limitations described in this report are measured at the time of investment and may be exceeded on a going-forward basis as a result of credit rating downgrades or market value fluctuations of the Fund's portfolio securities. Unless otherwise specified herein, the Fund may count its holdings in Underlying Funds towards various guideline tests so long as the earnings on the underlying holdings of such Underlying Funds are exempt from regular U.S. federal income taxes (but which may be includable in taxable income for purposes of the Federal alternative minimum tax).

Unless otherwise specified, the investment policies and limitations of the Fund are not considered to be fundamental by the Fund and can be changed without a vote of the Common Shareholders. The Fund's investment objective and certain investment restrictions specifically identified as such in the Fund's Statement of Additional Information are considered fundamental and may not be changed without the approval of the holders of a majority of the outstanding voting securities of the Fund, as defined in the Investment Company Act of 1940, as amended (the "1940 Act"), which includes Common Shares and Preferred Shares, if any, voting together as a single class, and the holders of the outstanding Preferred Shares, if any, voting as a single class.

Use of Leverage

This section has been revised since the prior disclosure date to reflect certain non-material disclosure updates.

The Fund may borrow money and/or issue Preferred Shares, notes or debt securities for investment purposes. These practices are known as leveraging. The Adviser determines whether or not to engage in leverage based on its assessment of conditions in the debt and credit markets. On August 1, 2023, the Fund entered into a credit agreement with BNP Paribas ("BNP Credit Agreement"). The BNP Credit Agreement permits the Fund to borrow funds that are collateralized by assets held at BNP Paribas pursuant to the BNP Credit Agreement. Under the terms of the BNP Credit Agreement, the Fund may borrow up to $25,000,000 bearing an interest rate of the Overnight Bank Funding Rate plus a fixed rate determined by the securities pledged as collateral. Any unused portion of the BNP Credit Agreement is subject to a commitment fee of 0.50% of the unused portion of the facility until a utilization of 80% or greater is met. The BNP Credit Agreement was not utilized during the year ended June 30, 2026. As of June 30, 2026, the Fund had no outstanding balance on the BNP Credit Agreement.

As of June 30, 2026, the Fund had outstanding 2,400,000 shares of Series A Preferred Stock, 2,400,000 shares of Series B Preferred Stock and 419,206 shares of Series C Preferred Stock. As of the same date, the average liquidation preference of the Series A Preferred Stock and Series B Preferred Stock was $60,000,000, and the average liquidation preference of Series C Preferred Stock was $4,192,060. The Series A Preferred Stock, Series B Preferred Stock and Series C Preferred Stock rank senior in right of payment to the Common Shares.

Annual Report | June 30, 2026 69

RiverNorth/DoubleLine Strategic Opportunity Fund, Inc.

Summary of Updated Information Regarding the Fund June 30, 2026 (Unaudited)

Issuance of Common Shares will enable the Fund to increase the aggregate amount of its leverage. The Fund may achieve such increase in leverage through additional borrowings and/or the issuance of Preferred Shares and/or debt securities. However, there is no assurance that the Fund will increase the amount of its leverage or utilize leverage in addition to the credit facility or that, if additional leverage is utilized, it will be successful in enhancing the level of the Fund's current distributions. It is possible that the Fund will be unable to obtain additional leverage. If the Fund is unable to increase its leverage after the issuance of additional Common Shares, there could be an adverse impact on the return to Common Shareholders. In addition, to the extent additional leverage is utilized, the Fund may consequently be subject to certain financial covenants and restrictions that are not currently imposed on the Fund. The Fund's Common Shares are likely to be junior in liquidation and distribution rights to amounts owed pursuant to any additional leverage instruments that may be utilized by the Fund in the future.

The Fund may be subject to certain restrictions on investments imposed by lenders or by one or more rating agencies that may issue ratings for any senior securities issued by the Fund. Borrowing covenants or rating agency guidelines may impose asset coverage or Fund composition requirements that are more stringent than those imposed on the Fund by the 1940 Act.

The Fund also invests in reverse repurchase agreements, total return swaps and derivatives or other transactions with leverage embedded in them in a limited manner or subject to a limit on leverage risk calculated based on value-at-risk, as required by Rule 18f-4 under the 1940 Act. These additional transactions will not cause the Fund to pay higher advisory or administration fee rates than it would pay in the absence of such transactions. However, these transactions entail additional expenses (e.g., transaction costs) which are borne by the Fund. Funds whose use of derivatives is more than a limited specified exposure amount are required to establish and maintain a comprehensive derivatives risk management program, subject to oversight by a fund's board of trustees, and appoint a derivatives risk manager. The Fund has implemented a Rule 18f-4 derivative risk management program that complies with Rule 18f-4.

The use of leverage by the Fund can magnify the effect of any losses. If the income and gains earned on the securities and investments purchased with leverage proceeds are greater than the cost of the leverage, returns will be greater than if leverage had not been used. Conversely, if the income and gains from the securities and investments purchased with such proceeds do not cover the cost of leverage, returns will be less than if leverage had not been used. The use of leverage magnifies gains and losses to Common Shareholders. Since Common Shareholders pay all expenses related to the issuance of debt or use of leverage, any use of leverage would create a greater risk of loss for the Common Shares than if leverage is not used. There can be no assurance that a leveraging strategy will be successful during any period in which it is employed.

Under the 1940 Act, the Fund is not permitted to incur indebtedness unless immediately after doing so the Fund has an asset coverage of at least 300% of the aggregate outstanding principal balance of indebtedness (i.e., such indebtedness may not exceed 33 1/3% of the value of the Fund's total assets including the amount borrowed). Additionally, under the 1940 Act, the Fund may not declare any dividend or other distribution upon any class of its shares, or purchase any such shares, unless the aggregate indebtedness of the Fund has, at the time of the declaration of any such dividend or distribution or at the time of any such purchase, asset coverage of at least 300% after deducting the amount of such dividend, distribution, or purchase price, as the case may be. Under the 1940 Act, the Fund is not permitted to issue Preferred Shares unless immediately after such issuance the total asset value of the Fund's portfolio is at least 200% of the liquidation value of the outstanding Preferred Shares (i.e., such liquidation value may not exceed 50% of the Fund's Managed Assets). In addition, the Fund is not permitted to declare any cash dividend or other distribution on its Common Shares unless, at the time of such declaration, the NAV of the Fund's portfolio (determined after deducting the amount of such dividend or other distribution) is at least 200% of such liquidation value of the Preferred Shares. If Preferred Shares are issued, the Fund intends, to the extent possible, to purchase or redeem shares, from time to time, to maintain coverage of any Preferred Shares of at least 200% of such liquidation value of the Preferred Shares. Normally, Common Shareholders will elect the directors of the Fund except that the holders of any Preferred Shares will elect two directors. In the event the Fund failed to pay dividends on its Preferred Shares for two years, holders of Preferred Shares would be entitled to elect a majority of the directors until the dividends are paid.

70 (888) 848-7569 | www.rivernorth.com

RiverNorth/DoubleLine Strategic Opportunity Fund, Inc.

Summary of Updated Information Regarding the Fund June 30, 2026 (Unaudited)

Due to the Fund's issuance of Series A, Series B and Series C Preferred Stock, for tax purposes, the Fund is required to allocate net capital gain and other taxable income, if any, between the Common Shares and shares of the Series A, Series B and Series C Preferred Stock in proportion to the total dividends paid to each class for the year in which the net capital gain or other taxable income was realized.

Effects of Leverage.

Assuming the utilization of leverage through a combination of borrowings under the issuance of Preferred Shares by the Fund in the aggregate amount of approximately 37.25% of the Fund's Managed Assets as of June 30, 2026, at a weighted average interest rate or payment rate of 4.61% payable on such leverage, the annual return that the Fund's portfolio must achieve (net of expenses) in order to cover its leverage costs would be 1.72%. Of course, these numbers are merely estimates for illustration. Actual interest or payment rates on the leverage utilized by the Fund will vary frequently and may be significantly higher or lower than the rate estimated above.

The following table is furnished in response to requirements of the Securities and Exchange Commission ("SEC"). It is designed to illustrate the effect of leverage on total return on Common Shares, assuming investment portfolio total returns (comprised of income, net expenses and changes in the value of investments held in the Fund's portfolio) of -10%, -5%, 0%, 5% and 10%. The table below reflects the Fund's continued use of Preferred Shares as of June 30, 2026 as a percentage of total Managed Assets (including assets attributable to such leverage), and the annual return that the Fund's portfolio must experience (net of expenses) in order to cover such costs. These assumed investment portfolio returns are hypothetical figures and are not necessarily indicative of what the Fund's investment portfolio returns will be. In other words, the Fund's actual returns may be greater or less than those appearing in the table below. The table further reflects the use of leverage representing approximately 37.25% of the Fund's Managed Assets and estimated leverage costs of 4.61%.

Assumed Portfolio Return -10.00% -5.00% 0.00% 5.00% 10.00%
Common Share Total Return -18.67% -10.71% -2.74% 5.23% 13.20%
Annual Report | June 30, 2026 71

RiverNorth/DoubleLine Strategic Opportunity Fund, Inc.

Summary of Updated Information Regarding the Fund June 30, 2026 (Unaudited)

Total return is composed of two elements-the dividends on shares paid by the Fund (the amount of which is largely determined by the Fund's net investment income after paying the cost of leverage) and realized and unrealized gains or losses on the value of the securities the Fund owns. As the table shows, leverage generally increases the return to shareholders when portfolio return is positive or greater than the costs of leverage and decreases return when the portfolio return is negative or less than the costs of leverage.

During the time in which the Fund is using leverage, the amount of the fees paid to the Adviser (and from the Adviser to the Subadviser) for investment management services (and subadvisory services) is higher than if the Fund did not use leverage because the fees paid are calculated based on the Fund's Managed Assets. This may create a conflict of interest between the Adviser and the Subadviser, on the one hand, and Common Shareholders, on the other. Also, because the leverage costs are borne by the Fund at a specified interest rate, only the Fund's Common Shareholders bear the cost of the Fund's management fees and other expenses. There can be no assurance that a leveraging strategy will be successful during any period in which it is employed.

Market and Net Asset Value Information

The Fund's Common Shares are listed on the New York Stock Exchange ("NYSE") under the symbol "OPP." The Fund's Common Shares commenced trading on the NYSE in September 2016.

The Fund's Common Shares have traded both at a premium and a discount to NAV. The Fund cannot predict whether the Common Shares will trade in the future at a premium or discount to NAV. The provisions of the 1940 Act generally require that the public offering price of Common Shares (less any underwriting commissions and discounts) must equal or exceed the NAV per share of a company's common stock (calculated within 48 hours of pricing). The Fund's issuance of Common Shares may have an adverse effect on prices in the secondary market for the Fund's Common Shares by increasing the number of Common Shares available, which may put downward pressure on the market price for the Fund's Common Shares. Shares of common stock of closed-end investment companies frequently trade at a discount from NAV.

The Fund may (but is not obligated to) take action to repurchase shares in the open market or make tender offers for its shares at or near NAV. During the pendency of any tender offer, the Fund will publish how Common Shareholders may readily ascertain the NAV. Repurchase of the Common Shares may have the effect of reducing any market discount to NAV. There is no assurance that, if action is undertaken to repurchase or tender for shares, such action will result in the shares trading at a price which approximates their NAV.

72 (888) 848-7569 | www.rivernorth.com

RiverNorth/DoubleLine Strategic Opportunity Fund, Inc.

Summary of Updated Information Regarding the Fund June 30, 2026 (Unaudited)

The following table shows, for each fiscal quarter since the quarter ended June 30, 2024: (i) high and low NAVs per Common Share, (ii) the high and low sale prices per Common Share, as reported as of the close of trading on the NYSE in the consolidated transaction reporting system, and (iii) the percentage by which the Common Shares traded at a premium over, or discount from, the high and low NAVs per Common Share (using the closing market price of each trading date compared to that day's NAV per Common Share). The Fund's NAV per Common Share is determined on a daily basis.

MARKET PRICE(1) NET ASSET VALUE(2)

PREMIUM/(DISCOUNT)

TO NET ASSET VALUE(3)

Quarter Ended High Low High Low High Low
June 30, 2024 $8.77 $8.13 $9.50 $9.29 -7.68% -12.49%
September 30, 2024 $9.28 $8.62 $9.72 $9.44 -4.53% -8.69%
December 31, 2024 $9.12 $8.20 $9.51 $9.13 -4.10% -10.19%
March 31, 2025 $8.77 $8.31 $9.23 $9.02 -4.98% -7.87%
June 30, 2025 $8.67 $8.06 $9.17 $8.86 -5.45% -9.03%
September 30, 2025 $8.80 $8.40 $9.04 $8.81 -2.64% -4.65%
December 31, 2025 $8.57 $7.80 $8.95 $8.73 -4.25% -10.65%
March 31, 2026 $7.97 $7.50 $8.75 $8.46 -8.91% -11.35%
June 30, 2026 $7.89 $7.50 $8.48 $8.32 -6.96% -9.86%
(1) Based on high and low closing market price for the respective quarter.
(2) Based on the NAV calculated on the day of the high and low closing market prices, as applicable, as of the close of regular trading on the NYSE (normally 4:00 p.m. Eastern Time).
(3) Calculated based on the information presented.

The last reported sale price, NAV per share and percentage discount to NAV per share of the Common Shares as of June 30, 2026 were $7.72, $8.37 and -7.77%, respectively. As of that same date, the Fund had 24,990,131 Common Shares outstanding and net assets of the Fund were $209,212,745.

Annual Report | June 30, 2026 73

RiverNorth/DoubleLine Strategic Opportunity Fund, Inc.

Summary of Updated Information Regarding the Fund June 30, 2026 (Unaudited)

Senior Securities Representing Indebtedness

The following table sets forth certain information regarding the Fund's senior securities as of the end of the Fund's prior fiscal years since the Fund's inception and for the fiscal year ended June 30, 2026. Audited information regarding the Fund's senior securities is included in the Financial Highlights included herein. The Fund's senior securities during this time period are comprised of outstanding indebtedness, which constitutes a "senior security" as defined in the 1940 Act.

Period/Fiscal

Year Ended

Senior Securities

Average

Amount

Outstanding

Asset

Coverage

Involuntary

Liquidating

Preference

per Unit

Average

Market Value

per Unit(4)

June 30, 2026 Credit Facility $ - $ - $ - $ -
Series A Cumulative Preferred Stock $ 60,000,000 $ 66 (3) $ 25.00 $ 16.99
Series B Cumulative Preferred Stock $ 60,000,000 $ 66 (3) $ 25.00 $ 18.53
Series C Term Preferred Stock $ 4,192,060 $ 66 (3) $ 10.00 $ 10.19
June 30, 2025 Credit Facility $ - $ - $ - $ -
Series A Cumulative Preferred Stock $ 60,000,000 $ 67 (3) $ 25.00 $ 18.54
Series B Cumulative Preferred Stock $ 60,000,000 $ 67 (3) $ 25.00 $ 20.00
Series C Term Preferred Stock $ 4,192,060 $ 67 (3) $ 10.00 $ 10.12
June 30, 2024 Credit Facility $ - $ - $ - $ -
Series A Cumulative Preferred Stock $ 60,000,000 $ 140 (3) $ 25.00 $ 18.25
Series B Cumulative Preferred Stock $ 60,000,000 $ 140 (3) $ 25.00 $ 19.59
Credit Facility $ - $ - $ - $ -
Series A Cumulative Preferred Stock $ 60,000,000 $ 140 (3) $ 25.00 $ 18.25
74 (888) 848-7569 | www.rivernorth.com

RiverNorth/DoubleLine Strategic Opportunity Fund, Inc.

Summary of Updated Information Regarding the Fund June 30, 2026 (Unaudited)

Period/Fiscal

Year Ended

Senior Securities

Average

Amount

Outstanding

Asset

Coverage

Involuntary

Liquidating

Preference

per Unit

Average

Market Value

per Unit(4)

June 30, 2023 Credit Facility $ - $ - $ - $ -
Series A Cumulative Preferred Stock $ 60,000,000 $ 142 (3) $ 25.00 $ 18.59
Series B Cumulative Preferred Stock $ 60,000,000 $ 142 (3) $ 25.00 $ 19.64
June 30, 2022 Credit Facility $ - $ - $ - $ -
Series A Cumulative Preferred Stock $ 60,000,000 $ 142 (3) $ 25.00 $ 22.98
Series B Cumulative Preferred Stock $ 60,000,000 $ 142 (3) $ 25.00 $ 22.93
June 30, 2021 Credit Facility $ 21,000,000 (1) $ 14,563 (2) $ - $ -
Series A Cumulative Preferred Stock $ 60,000,000 $ 119 (3) $ 25.00 $ 24.44
June 30, 2020 Credit Facility $ 65,500,000 (1) $ 4,046 (2) $ - $ -
June 30, 2019 Credit Facility $ 73,500,000 (1) $ 3,711 (2) $ - $ -
June 30, 2018 Credit Facility $ 73,500,000 (1) $ 3,811 (2) $ - $ -
June 30, 2017(5) Credit Facility $ 71,500,000 (1) $ 4,090 (2) $ - $ -
(1) Principal amount outstanding represents the principal amount owed by the Fund to lenders under credit facility arrangements in place at the time.
(2) The asset coverage ratio is calculated by subtracting the Fund's total liabilities and indebtedness not represented by senior securities from the Fund's total assets, dividing the result by the aggregate amount of the Fund's senior securities representing indebtedness then outstanding, and then multiplying by $1,000.
(3) The asset coverage ratio for a class of senior securities representing stock is calculated as the Fund's total assets, less all liabilities and indebtedness not represented by the Fund's senior securities, divided by secured senior securities representing indebtedness plus the aggregate of the involuntary liquidation preference of secured senior securities which are stock. The involuntary liquidation preference of a class of senior security, which is a stock, is the amount to which such class of senior security would be entitled on involuntary liquidation of the issuer in preference to a security junior to it. Series B Perpetual Preferred Stock and Series C Term Preferred Stock have the same priority with respect to payment of dividends and distributions and liquidation preference as the issued and outstanding Series A Preferred Stock and any other shares of preferred stock that the Fund may issue. With respect to the Preferred Stock, the asset coverage per share is expressed in terms of dollar amounts per share of outstanding Preferred Stock (based on a liquidation preference of $25 for Series A, $25 for Series B and $10 for Series C) and is equivalent to the Asset Coverage of Preferred Stock presented given Series A, Series B, and Series C Preferred Stock have pari-passu liquidation preference.
Annual Report | June 30, 2026 75

RiverNorth/DoubleLine Strategic Opportunity Fund, Inc.

Summary of Updated Information Regarding the Fund June 30, 2026 (Unaudited)
(4) Represents the average of the daily closing market price per share as reported on the NYSE during the respective period.
(5) For the period September 28, 2016, commencement of operations, to June 30, 2017.

Risk Factors

Investing in the Fund involves certain risks relating to its structure and investment objective. You should carefully consider these risk factors, together with all of the other information included in this report, before deciding whether to make an investment in the Fund. An investment in the Fund may not be appropriate for all investors, and an investment in the Common Shares of the Fund should not be considered a complete investment program.

The risks set forth below are not the only risks of the Fund, and the Fund may face other risks that have not yet been identified, which are not currently deemed material or which are not yet predictable. If any of the following risks occur, the Fund's financial condition and results of operations could be materially adversely affected. In such case, the Fund's NAV and the trading price of its securities could decline, and you may lose all or part of your investment.

Certain risk factors included below have been updated since the prior disclosure date to reflect certain non-material updates, and new risk factors regarding artificial intelligence and liquidity risks have been added.

Investment-Related Risks:

With the exception of Underlying Fund risk (and except as otherwise noted below), the following risks apply to the direct investments the Fund may make, and generally apply to the Fund's investments in Underlying Funds. That said, each risk described below may not apply to each Underlying Fund.

Investment and Market Risks. An investment in the Fund is subject to investment risk, including the possible loss of the entire principal amount invested. The value of the Fund or the Underlying Funds, like other market investments, may move up or down, sometimes rapidly and unpredictably. Overall stock market risks may also affect the NAV of the Fund or the Underlying Funds. Factors such as economic growth and market conditions, interest rate levels and political events affect the securities markets. An investment in the Fund may at any point in time be worth less than the original investment, even after taking into account any reinvestment of dividends and distributions.

Management Risks. The Adviser's and the Subadviser's judgments about the attractiveness, value and potential appreciation of a particular asset class or individual security in which the Fund invests may prove to be incorrect and there is no guarantee that the Adviser's or the Subadviser's judgment, as applicable, will produce the desired results.

Fixed Income Securities Risks. The Fund and the Underlying Funds may invest in fixed income securities. Fixed income securities generally represent the obligation of an issuer to repay to the investor (or lender) the amount borrowed plus interest over a specified time period. Fixed income securities increase or decrease in value based on changes in interest rates. If rates increase, the value of the Fund's or an Underlying Fund's fixed income securities generally declines. On the other hand, if rates fall, the value of the fixed income securities generally increases. The issuer of a fixed income security may not be able to make interest and principal payments when due. This risk is increased in the case of issuers of high yield securities, also known as "junk" bonds. The Fund and the Underlying Funds may invest in fixed income securities of any credit quality, maturity or duration. Fixed income securities risks include components of the following additional risks (in addition to those described elsewhere):

76 (888) 848-7569 | www.rivernorth.com

RiverNorth/DoubleLine Strategic Opportunity Fund, Inc.

Summary of Updated Information Regarding the Fund June 30, 2026 (Unaudited)

Issuer Risk. The value of fixed income securities may decline for a number of reasons which directly relate to the issuer, such as management performance, leverage, reduced demand for the issuer's goods and services, historical and projected earnings, and the value of its assets. Changes in an issuer's credit ratings or the market's perception of an issuer's creditworthiness may also affect the value of the fund's investment in that issuer.

Credit Risk. The issuer of a fixed income security may not be able to make interest and principal payments when due. Generally, the lower the credit rating of a security, the greater the risk that the issuer will default on its obligation, which could result in a loss to a fund. The Fund and the Underlying Funds in which it invests may invest in securities that are rated in the lowest investment grade category. Issuers of these securities are more vulnerable to changes in economic conditions than issuers of higher-grade securities.

High Yield Securities/Junk Bond Risk. The Fund and the Underlying Funds may invest in high yield securities, also known as "junk bonds." High yield securities are not considered to be investment grade. High yield securities may provide greater income and opportunity for gain, but entail greater risk of loss of principal. High yield securities are predominantly speculative with respect to the issuer's capacity to pay interest and repay principal in accordance with the terms of the obligation. The market for high yield securities is generally less active than the market for higher quality securities. This may limit the ability of a fund to sell high yield securities at the price at which it is being valued for purposes of calculating NAV.

Interest Rate Risk. The Fund or an Underlying Fund's NAV and total return will vary in response to changes in interest rates. If rates increase, the value of the Fund's or an Underlying Fund's investments generally will decline, as will the Fund's or the Underlying Fund's NAV. In typical interest rate environments, the prices of longer-term fixed income securities generally fluctuate more than the prices of shorter-term fixed income securities as interest rates change.

Interest rates in the United States and many other countries have experienced significant volatility in recent periods and may continue to fluctuate. Changes in monetary policy, inflationary pressures, fiscal policy and other macroeconomic factors may cause interest rates to rise or fall of the Fund's or Underlying Fund's investment horizon, potentially rapidly and unpredictably. To the extent the Fund or an Underlying Fund borrows money to finance its investments, the Fund's or Underlying Fund's performance will depend, in part, upon the difference between the rate at which it borrows funds and the rate at which it invests those funds. In periods of rising interest rates, the Fund's or Underlying Fund's cost of funds could increase, and in periods of falling interest rates, the Fund's or Underlying Fund's investment income could decrease. Adverse developments resulting from changes in interest rates could have a material adverse effect on the Fund's or Underlying Fund's financial condition and results.

Annual Report | June 30, 2026 77

RiverNorth/DoubleLine Strategic Opportunity Fund, Inc.

Summary of Updated Information Regarding the Fund June 30, 2026 (Unaudited)

In addition, a decline in the prices of the debt an Underlying Fund owns could adversely affect the Underlying Fund's NAV. Changes in market interest rates could also affect the ability of operating companies in which the Underlying Fund invests to service debt, which could materially impact the Underlying Fund.

SOFR Risk. The Secured Overnight Financing Rate ("SOFR") is intended to be a broad measure of the cost of borrowing funds overnight in transactions that are collateralized by U.S. Treasury securities. SOFR is calculated based on transaction-level repo data collected from various sources. For each trading day, SOFR is calculated as a volume-weighted median rate derived from such data. SOFR is calculated and published by the Federal Reserve Bank of New York.

Because SOFR is a financing rate based on overnight secured funding transactions, it differs fundamentally from the London Interbank Offered Rate ("LIBOR"). LIBOR was intended to be an unsecured rate that represents interbank funding costs for different short-term maturities or tenors. It was a forward-looking rate reflecting expectations regarding interest rates for the applicable tenor. Thus, LIBOR was intended to be sensitive, in certain respects, to bank credit risk and to term interest rate risk. In contrast, SOFR is a secured overnight rate reflecting the credit of U.S. Treasury securities as collateral. Thus, it is largely insensitive to credit-risk considerations and to short-term interest rate risks. SOFR is a transaction-based rate, and it has been more volatile than other benchmark or market rates, such as three-month LIBOR, during certain periods. For these reasons, among others, there is no assurance that SOFR, or rates derived from SOFR, will perform in the same or similar way as LIBOR would have performed at any time, and there is no assurance that SOFR-based rates will be a suitable substitute for LIBOR. The future performance of SOFR, and SOFR-based reference rates, cannot be predicted based on SOFR's history or otherwise. Levels of SOFR in the future may bear little or no relation to historical levels of SOFR, LIBOR or other rates.

Mortgage-Backed Securities Risks. Mortgage-backed securities represent participation interests in pools of residential mortgage loans purchased from individual lenders by a federal agency or originated and issued by private lenders. The Fund invests in mortgage-backed securities and is subject to the following risks:

Credit and Market Risks of Mortgage-Backed Securities. The mortgage loans or the guarantees underlying mortgage-backed securities may default or otherwise fail leading to non-payment of interest and principal.

Prepayment and Extension Risk of Mortgage-Backed Securities: In times of declining interest rates, the Fund's higher yielding securities may be prepaid and the Fund will have to replace them with securities having a lower yield. Extension risk is the possibility that rising interest rates may cause prepayments to occur at a slower than expected rate. This particular risk may effectively change a security which was considered short or intermediate-term into a long-term security. Long-term securities generally fluctuate more widely in response to changes in interest rates than short or intermediate-term securities. If a mortgage-backed security held by the Fund is called for redemption, the Fund will be required to permit the issuer to redeem or "pay-off" the security, which could have an adverse effect on the Fund's ability to achieve its investment objective.

78 (888) 848-7569 | www.rivernorth.com

RiverNorth/DoubleLine Strategic Opportunity Fund, Inc.

Summary of Updated Information Regarding the Fund June 30, 2026 (Unaudited)

Illiquidity Risk of Mortgage-Backed Securities and Mortgage Markets. The liquidity of mortgage-backed securities varies by type of security; at certain times the Fund may encounter difficulty in disposing of such investments. Because mortgage-backed securities may be less liquid than other securities, the Fund may be more susceptible to liquidity risks than funds that invest in other securities. In the past, in stressed markets, certain types of mortgage-backed securities suffered periods of illiquidity if disfavored by the market. The mortgage markets are facing additional economic pressures such as the devaluation of the underlying collateral, increased loan underwriting standards which limits the number of real estate purchasers, and excess supply of properties in certain geographic regions, which puts additional downward pressure on the value of real estate in these regions.

Commercial Mortgage-Backed Securities. Many of the risks of investing in commercial mortgage-backed securities reflect the risks of investing in the real estate securing the underlying mortgage loans. These risks reflect the effects of local and other economic conditions on real estate markets, the ability of tenants to make loan payments and the ability of a property to attract and retain tenants. Commercial mortgage-backed securities may be less liquid and exhibit greater price volatility than other types of mortgage-backed securities.

Collateralized Mortgage Obligations. There are certain risks associated specifically with collateralized mortgage obligations ("CMOs"). CMOs are debt obligations collateralized by mortgage loans or mortgage pass-through securities, which utilize estimates of future economic conditions. These estimates may vary from actual future results, particularly during periods of extreme market volatility. CMOs issued by private entities are not guaranteed by any government agency; if the collateral securing the CMO, as well as any third party credit support or guarantees, is insufficient to make payment, the holder could sustain a loss.

Residual and Equity Tranches. Investments in lower tranches of a mortgage-related security are especially sensitive to the rate of defaults in the collateral pool. The Fund's exposure to lower tranches of non-agency mortgage-backed securities may be greater than those set out in the Fund's investment limits as a result of any investments in such securities by the Underlying Funds in which the Fund invests.

Adjustable Rate Mortgages. Adjustable rate mortgages ("ARMs") contain maximum and minimum rates beyond which the mortgage interest rate may not vary over the lifetime of the security. In addition, many ARMs provide for additional limitations on the maximum amount by which the mortgage interest rate may adjust for any single adjustment period. In the event that a monthly payment is not sufficient to pay the interest accruing on an ARM, any excess interest is added to the principal balance of the mortgage loan, which is repaid through future monthly payments. In addition, certain ARMs may provide for an initial fixed, below-market or "teaser" interest rate. During this initial fixed-rate period, the payment due from the related mortgagor may be less than that of a traditional loan. However, after the "teaser" rate expires, the monthly payment required to be made by the mortgagor may increase dramatically when the interest rate on the mortgage loan adjusts. This increased burden on the mortgagor may increase the risk of delinquency or default on the mortgage loan and in turn, losses on the mortgage-backed securities.

Annual Report | June 30, 2026 79

RiverNorth/DoubleLine Strategic Opportunity Fund, Inc.

Summary of Updated Information Regarding the Fund June 30, 2026 (Unaudited)

Interest and Principal Only Securities Risk. The Fund may invest in "stripped mortgage-backed securities," which pay to one class all of the interest from the mortgage assets (the interest-only, or "IO" class), while the other class will receive all of the principal (the principal-only, or "PO" class). If the assets underlying the IO class experience greater than anticipated prepayments of principal, the Fund may fail to recoup fully, or at all, its initial investment in these securities. Conversely, PO class securities tend to decline in value if prepayments are slower than anticipated.

Mortgage Market/Sub-Prime Risk. The residential mortgage market in the United States has experienced difficulties that, when present, may adversely affect the performance and market value of certain of the Fund's mortgage-related investments. Delinquencies and losses on residential mortgage loans (especially subprime loans, which refer to loans made to borrowers with weakened credit histories or with a lower capacity to make timely payments on their loans, and second-lien mortgage loans), and a decline in or flattening of housing values (as has been experienced in many housing markets) may exacerbate such delinquencies and losses. Borrowers with adjustable rate mortgage loans are more sensitive to changes in interest rates, which affect their monthly mortgage payments, and may be unable to secure replacement mortgages at comparably low interest rates. During periods of market difficulties reduced investor demand and increased investor yield requirements have at times caused limited liquidity in the secondary market for mortgage-related securities, reducing the value of such securities.

RMBS Risk. The Fund's investments in RMBS are subject to the risks of defaults, foreclosure timeline extension, fraud, and home price depreciation and unfavorable modification of loan principal amount. In the event of defaults on the residential mortgage loans that underlie the Fund's investments in RMBS and the exhaustion of any underlying or any additional credit support, the Fund may not realize an anticipated return on investments and may incur a loss on these investments. On certain RMBS, prepayments of principal may be made at any time. Prepayment rates are influenced by changes in current interest rates and a variety of economic, geographic, social and other factors and cannot be predicted with certainty.

Corporate Debt Securities Risk. The Fund and Underlying Funds may invest in corporate debt securities. Corporate debt securities are fixed income securities issued by businesses. Notes, bonds, debentures, and commercial paper are the most prevalent types of corporate debt securities. The credit risks of corporate debt securities vary widely among issuers. In addition, the credit risk of an issuer's debt security may vary based on its priority for repayment, meaning that issuers might not make payments on subordinated securities while continuing to make payments on senior securities or, in the event of bankruptcy, holders of senior securities may receive amounts otherwise payable to the holders of subordinated securities.

Credit and Below Investment Grade Securities Risks. Credit risk is the risk that an issuer of a security may be unable or unwilling to make dividend, interest and principal payments when due and the related risk that the value of a security may decline because of concerns about the issuer's ability or willingness to make such payments. Credit risk may be heightened for the Fund because it and the Underlying Funds may invest in below investment grade securities ("junk" and "high yield" securities). Securities of below investment grade quality are regarded as having speculative characteristics with respect to the issuer's capacity to pay interest and repay principal, and may be subject to higher price volatility and default risk than investment grade securities of comparable terms and duration. Issuers of lower grade securities may be highly leveraged and may not have available to them more traditional methods of financing. The prices of these lower grade securities are typically more sensitive to negative developments, such as a decline in the issuer's revenues or a general economic downturn. The secondary market for lower rated securities may not be as liquid as the secondary market for more highly rated securities, a factor which may have an adverse effect on the Fund's ability to dispose of a particular security.

80 (888) 848-7569 | www.rivernorth.com

RiverNorth/DoubleLine Strategic Opportunity Fund, Inc.

Summary of Updated Information Regarding the Fund June 30, 2026 (Unaudited)

Tactical Municipal Closed-End Fund Strategy Risk. The Fund invests in CEFs as a principal part of the Tactical Municipal Closed-End Fund Strategy. The Fund may invest in shares of CEFs that are trading at a discount to NAV or at a premium to NAV. There can be no assurance that the market discount on shares of any CEF purchased by the Fund will ever decrease.

In fact, it is possible that this market discount may increase and the Fund may suffer realized or unrealized capital losses due to further decline in the market price of the securities of such CEFs, thereby adversely affecting the NAV of the Fund's Common Shares. Similarly, there can be no assurance that any shares of a CEF purchased by the Fund at a premium will continue to trade at a premium or that the premium will not decrease subsequent to a purchase of such shares by the Fund.

The Fund may invest in BDCs as a principal part of the Tactical Closed-End Fund Strategy. BDCs generally invest in less mature U.S. private companies or thinly traded U.S. public companies which involve greater risk than well-established publicly traded companies. While BDCs are expected to generate income in the form of dividends, certain BDCs during certain periods of time may not generate such income. A BDC may make investments with a larger amount of risk of volatility and loss of principal than other investment options and may also be highly speculative and aggressive.

Underlying Fund Risks. The expenses of the Fund will generally be higher than the direct expenses of other fund shares because the Fund indirectly bears fees and expenses charged by the Underlying Funds in which it invests, and the Fund may also incur brokerage costs when it purchases shares of Underlying Funds. Additionally, the risks associated with investing in the Fund are closely related to the risks associated with the securities and other investments held by the Underlying Funds. The ability of the Fund to achieve its investment objective will depend upon the ability of the Underlying Funds to achieve their investment objectives. There can be no assurance that the investment objective of any Underlying Fund will be achieved.

The Fund's NAV will fluctuate in response to changes in the NAVs of the Underlying Funds in which it invests and will be particularly sensitive to the risks associated with each of the Underlying Funds. Shareholders will bear additional layers of fees and expenses with respect to the Fund's investments in Underlying Funds because each of the Fund and the Underlying Fund will charge fees and incur separate expenses, which may be magnified if the Underlying Funds use leverage.

The Fund's investments in Underlying Funds may be restricted by certain provisions of the 1940 Act. Under Section 12(d)(1)(A) of the 1940 Act, the Fund may hold securities of an Underlying Fund in amounts which (i) do not exceed 3% of the total outstanding voting stock of the Underlying Fund, (ii) do not exceed 5% of the value of the Fund's total assets and (iii) when added to all other Underlying Fund securities held by the Fund, do not exceed 10% of the value of the Fund's total assets. Under Section 12(d)(1)(C) of the 1940 Act, the Fund, together with any other investment companies for which the Adviser acts as an investment adviser, may not, in the aggregate, own more than 10% of the total outstanding voting stock of a registered closed-end investment company. Section 12(d)(1)(F) of the 1940 Act provides that the limitations of Section 12(d)(1) described above shall not apply to securities purchased or otherwise acquired by the Fund if (i) immediately after such purchase or acquisition not more than 3% of the total outstanding stock of such Underlying Fund is owned by the Fund and all affiliated persons of the Fund, and (ii) certain requirements are met with respect to sales charges. In addition, Rule 12d1-4 under the 1940 Act ("Rule 12d1-4") permits the Fund to invest in Underlying Funds beyond the limitations of Section 12(d)(1) described above, subject to various conditions, including that the Fund enter into an investment agreement with the Underlying Fund (which agreements may impose additional conditions on the Fund). In matters upon which the Fund is solicited to vote as a shareholder of an Underlying Fund, the Adviser may be required to vote Underlying Fund shares in the same proportion as shares held by other shareholders of the Underlying Fund.

Annual Report | June 30, 2026 81

RiverNorth/DoubleLine Strategic Opportunity Fund, Inc.

Summary of Updated Information Regarding the Fund June 30, 2026 (Unaudited)

SPAC Risks. SPACs are collective investment structures that pool funds in order to seek potential acquisition opportunities. Unless and until an acquisition is completed, a SPAC generally invests its assets (less an amount to cover expenses) in U.S. government securities, money market fund securities and cash. SPACs and similar entities may be blank check companies with no operating history or ongoing business other than to seek a potential acquisition. Accordingly, the value of their securities is particularly dependent on the ability of the entity's management to identify and complete a profitable acquisition. Certain SPACs may seek acquisitions only in limited industries or regions, which may increase the volatility of their prices. If an acquisition that meets the requirements for the SPAC is not completed within a predetermined period of time, the invested funds are returned to the entity's shareholders. Investments in SPACs may be illiquid and/or be subject to restrictions on resale. To the extent the SPAC is invested in cash or similar securities, this may impact the Fund's ability to meet its investment objective.

The officers and directors of a SPAC may operate multiple SPACs and could have conflicts of interest in determining to which SPAC a particular business opportunity should be presented. In such circumstances, there can be no assurance that a given business opportunity would be presented to the SPAC in which the Fund holds an investment.

Private Debt Risk. In addition to the general risks of all debt, private debt often may be illiquid and is typically not listed on an exchange and traded less actively than similar securities issued by public funds. For certain private debt, trading may only be possible through the assistance of the broker who originally brought the security to the market and has a relationship with the issuer. Due to the limited trading market, valuation of such debt might be more difficult.

Defaulted and Distressed Securities Risks. The Fund and the Underlying Funds may invest in defaulted and distressed securities. Defaulted or distressed issuers may be insolvent, in bankruptcy or undergoing some other form of financial restructuring. In the event of a default, the Fund or an Underlying Fund may incur additional expenses to seek recovery. The repayment of defaulted bonds is subject to significant uncertainties, may be delayed, or there may be partial or no recovery of repayment. There is often a time lag between when the Fund and an Underlying Fund makes an investment and when the Fund and the Underlying Fund realizes the value of the investment.

82 (888) 848-7569 | www.rivernorth.com

RiverNorth/DoubleLine Strategic Opportunity Fund, Inc.

Summary of Updated Information Regarding the Fund June 30, 2026 (Unaudited)

Loan Risk. The Fund or an Underlying Fund's investment in loans includes the risk that (i) if a fund holds a loan through another financial intermediary, or relies on a financial intermediary to administer the loan, its receipt of principal and interest on the loan may be subject to the credit risk of that financial intermediary; (ii) it is possible that any collateral securing a loan may be insufficient or unavailable to the fund, because, for example, the value of the collateral securing a loan can decline, be insufficient to meet the obligations of the borrower, or be difficult to liquidate, and that the fund's rights to collateral may be limited by bankruptcy or insolvency laws; (iii) investments in highly leveraged loans or loans of stressed, distressed, or defaulted issuers may be subject to significant credit and liquidity risk; (iv) a bankruptcy or other court proceeding could delay or limit the ability of the fund to collect the principal and interest payments on that borrower's loans or adversely affect the fund's rights in collateral relating to a loan; (v) there may be limited public information available regarding the loan; (vi) the use of a particular interest rate benchmark may limit the fund's ability to achieve a net return to shareholders that consistently approximates the average published Prime Rate of U.S. banks; (vii) the prices of certain floating rate loans that include a feature that prevents their interest rates from adjusting if market interest rates are below a specified minimum level may be more sensitive to changes in interest rates should interest rates rise but remain below the applicable minimum level; (viii) if a borrower fails to comply with various restrictive covenants that are typically in loan agreements, the borrower may default in payment of the loan; (ix) the fund's investments in loans may be subject to increased liquidity and valuation risks, risks associated with collateral impairment or access, and risks associated with investing in unsecured loans; (x) opportunities to invest in loans or certain types of loans, such as senior loans, may be limited; (xi) transactions in loans may settle on a delayed basis, and the fund may not receive the proceeds from the sale of a loan for a substantial period of time after the sale, which may result in sale proceeds related to the sale of loans not being available to make additional investments or to meet a fund's redemption obligations until potentially a substantial period after the sale of the loans; and (xii) loans may be difficult to value and may be illiquid, which may adversely affect an investment in the Fund.

Asset-Backed Securities Risk. An investment in asset-backed securities involves the risk that borrowers may default on the obligations that underlie the asset-backed security and that, during periods of falling interest rates, asset-backed securities may be called or prepaid, which may result in the Fund having to reinvest proceeds in other investments at a lower interest rate, and the risk that the impairment of the value of the collateral underlying a security in which the Fund invests (due, for example, to non-payment of loans) will result in a reduction in the value of the security.

Certain asset-backed securities do not have the benefit of the same security interest in the related collateral as do mortgage-backed securities; nor are they provided government guarantees of repayment. Credit card receivables are generally unsecured, and the debtors are entitled to the protection of a number of state and federal consumer credit laws, many of which give such debtors the right to set off certain amounts owed on the credit cards, thereby reducing the balance due. In addition, some issuers of automobile receivables permit the servicers to retain possession of the underlying obligations. If the servicer were to sell these obligations to another party, there is a risk that the purchaser would acquire an interest superior to that of the holders of the related automobile receivables. The impairment of the value of assets (tangible or intangible) underlying an asset-backed security, such as a result of non-payment of loans or non-performance of other collateral or underlying assets, may result in a reduction in the value of such asset-backed securities and losses to the Fund.

Annual Report | June 30, 2026 83

RiverNorth/DoubleLine Strategic Opportunity Fund, Inc.

Summary of Updated Information Regarding the Fund June 30, 2026 (Unaudited)

Illiquid Securities Risks. The Fund and the Underlying Funds may invest in illiquid securities. It may not be possible to sell or otherwise dispose of illiquid securities both at the price and within the time period deemed desirable by a fund. Illiquid securities also may be difficult to value or be more volatile investments.

Micro-, Small- and Medium-Sized Company Risks. The Fund, and the Underlying Funds in which it invests, may invest in securities without regard to market capitalization. Investments in securities of micro-, small- and medium-sized companies may be subject to more abrupt or erratic market movements than larger, more established companies. These companies also often trade in lower volumes, have narrower markets for their goods and/or services and more limited managerial and financial resources than larger, more established companies. Since these stocks are often less well known, there will normally be less publicly available information concerning these securities compared to what is available for the securities of larger companies. Micro-, small- and medium-sized companies' performance can be more volatile and the companies face greater risk of business failure, which could increase the volatility of the Fund's portfolio. The risks are intensified for investments in micro-cap companies.

Collateralized Debt Obligations Risk. The risks of an investment in a collateralized debt obligation ("CDO") depend largely on the quality and type of the collateral and the tranche of the CDO in which the Fund invests. Normally, collateralized bond obligations ("CBOs"), collateralized loan obligations and other CDOs are privately offered and may be characterized by the Fund as illiquid securities. In addition to the risks associated with debt instruments (e.g., interest rate risk and credit risk), CDOs carry additional risks including, but not limited to: (i) the possibility that distributions from collateral will not be adequate to make interest or other payments; (ii) the quality of the collateral may decline in value or default; (iii) the possibility that the Fund may invest in CDOs that are subordinate to other classes; and (iv) the complex structure of the security may not be fully understood at the time of investment and may produce disputes with the issuer or unexpected investment results.

REIT Risks. Investing in REITs involves certain unique risks in addition to those risks associated with investing in the real estate industry in general. The value of equity REITs may be affected by changes in the value of the underlying property owned by the REITs, while the value of mortgage REITs may be affected by the quality of any credit extended. REITs are dependent upon management skills, are not diversified, and are subject to heavy cash flow dependency, default by borrowers and self-liquidation. REITs also are subject to the possibilities of failing to qualify for tax free pass-through of income under the Internal Revenue Code of 1986, as amended (the "Code"), and failing to maintain their exemption from registration under the 1940 Act. Investment in REITs involves risks similar to those associated with investing in small capitalization companies, and REITs (especially mortgage REITs) are subject to interest rate risks. By investing in REITs directly or indirectly through the Underlying Funds, the Fund indirectly bears its proportionate share of the expenses of the REITs, which are not included in the Fund's expense table as acquired fund fees and expenses.

Equity Securities Risk. Underlying Funds may invest in equity securities, which are subject to general movements in the stock market, and a significant drop in the stock market may depress the price of securities to which the Underlying Funds have exposure. Equity securities typically have greater price volatility than fixed-income securities. The market price of equity securities owned by Underlying Funds may go down, sometimes rapidly or unpredictably. Equity securities may decline in value due to factors affecting equity securities markets generally, particular industries represented by those markets, or factors directly related to a specific company, such as decisions made by its management.

84 (888) 848-7569 | www.rivernorth.com

RiverNorth/DoubleLine Strategic Opportunity Fund, Inc.

Summary of Updated Information Regarding the Fund June 30, 2026 (Unaudited)

Preferred Stock Risk. Preferred stock is subject to many of the risks associated with debt securities, including interest rate risk. In addition, preferred stocks may not pay dividends, an issuer may suspend payment of dividends on U.S. preferred stock at any time, and in certain situations an issuer may call or redeem its preferred stock or convert it to common stock. Declining common stock values may also cause the value of the Fund's investments in preferred stocks to decline.

Warrants Risks. The Fund and the Underlying Funds may invest in warrants. Warrants do not carry with them the right to dividends or voting rights with respect to the securities that they entitle their holder to purchase and they do not represent any rights in the assets of the issuer. As a result, warrants may be considered to have more speculative characteristics than certain other types of investments. In addition, the value of a warrant does not necessarily change with the value of the underlying securities and a warrant ceases to have value if it is not exercised prior to its expiration date.

Derivatives Risks. The Fund and the Underlying Funds may enter into derivatives transactions. Derivatives transactions involve investment techniques and risks different from those associated with the Fund's other investments in Underlying Funds. Generally, a derivative is a financial contract, the value of which depends upon, or is derived from, the value of an underlying asset, reference rate, or index, and may relate to individual debt or equity instruments, interest rates, currencies or currency exchange rates, commodities, related indexes, and other assets. Derivatives can be volatile and involve various types and degrees of risk, depending upon the characteristics of a particular derivative. Derivatives may entail investment exposures that are greater than their cost would suggest, meaning that a small investment in a derivative could have a large potential impact on the performance of the Fund or an Underlying Fund. The Fund or an Underlying Fund could experience a loss if derivatives do not perform as anticipated, if they are not correlated with the performance of other investments which they are used to hedge or if the Fund is unable to liquidate a position because of an illiquid secondary market. When used for speculative purposes, derivatives will produce enhanced investment exposure, which will magnify gains and losses. The Fund and the Underlying Funds also will be subject to credit risk with respect to the counterparties to the derivatives contracts purchased by such fund. If a counterparty becomes bankrupt or otherwise fails to perform its obligations under a derivative contract due to financial difficulties, the Fund or an Underlying Fund may experience significant delays in obtaining any recovery under the derivative contract in a bankruptcy or other reorganization proceeding. The Fund or an Underlying Fund may obtain only a limited recovery or may obtain no recovery in such circumstances. The use of derivatives is also subject to operational and legal risks. Operational risks generally refer to risks related to potential operational issues, including documentation issues, settlement issues, system failures, inadequate controls, and human error. Legal risks generally refer to risks of loss resulting from insufficient documentation, insufficient capacity or authority of counterparty, or legality or enforceability of a contract.

Rule 18f-4 under the 1940 Act prescribes specific value-at-risk leverage limits for certain derivatives users. In addition, Rule 18f-4 requires certain derivatives users to adopt and implement a derivatives risk management program (including the appointment of a derivatives risk manager, and the implementation of certain testing requirements), and prescribes reporting requirements in respect of derivatives. Subject to certain conditions, if a fund qualified as a "limited derivatives user," as defined in Rule 18f-4, it is not subject to the full requirements of Rule 18f-4. With respect to reverse repurchase agreements or other similar financing transactions in particular, Rule 18f-4 permits a fund to enter into such transactions if the fund either (i) complies with the asset coverage requirements of Section 18 of the 1940 Act, and combines the aggregate amount of indebtedness associated with all reverse repurchase agreements or similar financing with the aggregate amount of any other senior securities representing indebtedness when calculating the relevant asset coverage ratio, or (ii) treats all reverse repurchase agreements or similar financing transactions as derivatives transactions for all purposes under Rule 18f-4. The Fund has adopted procedures for investing in derivatives and other transactions in compliance with Rule 18f-4.

Annual Report | June 30, 2026 85

RiverNorth/DoubleLine Strategic Opportunity Fund, Inc.

Summary of Updated Information Regarding the Fund June 30, 2026 (Unaudited)

Options and Futures Risks. Options and futures contracts may be more volatile than investments made directly in the underlying securities, involve additional costs, and may involve a small initial investment relative to the risk assumed. In addition, futures and options markets could be illiquid in some circumstances and certain over-the-counter options could have no markets. As a result, in certain markets, a fund may not be able to close out a transaction without incurring substantial losses. Although a fund's use of futures and options transactions for hedging should tend to minimize the risk of loss due to a decline in the value of the hedged position, at the same time, it will tend to limit any potential gain to a fund that might result from an increase in value of the position.

Swap Risks. The Fund and the Underlying Funds may enter into various swap agreements. Swap agreements are subject to interest rate risks; credit risks; the risk that the counterparty to the swap will default on its obligation to pay the Fund and the risk that the Fund will not be able to meet its obligations to pay the counterparty to the swap. In addition, there is the risk that a swap may be terminated by the Fund or the counterparty in accordance with its terms. Each of these could cause the Fund to incur losses and fail to obtain its investment objective.

Short Sale Risks. A short sale is a transaction in which a fund sells a security it does not own in anticipation that the market price of that security will decline. Positions in shorted securities are speculative and riskier than long positions (purchases) in securities because the maximum sustainable loss on a security purchased is limited to the amount paid for the security plus the transaction costs, whereas there is no maximum attainable price of the shorted security. Therefore, in theory, securities sold short have unlimited risk, will also result in higher transaction costs and may result in higher taxes.

Reverse Repurchase Agreements Risks. The use by the Fund of reverse repurchase agreements involves many of the same risks associated with the Fund's use of bank borrowings since the proceeds derived from such reverse repurchase agreements may be invested in additional securities. Reverse repurchase agreements involve the risk that the market value of the securities acquired in connection with the reverse repurchase agreement may decline below the price of the securities the Fund has sold but is obligated to repurchase, and that the securities may not be returned to the Fund. Also, reverse repurchase agreements involve the risk that the market value of the securities retained in lieu of sale by the Fund in connection with the reverse repurchase agreement may decline in price.

Foreign Investing Risk. Investments in foreign securities may be affected by currency controls and exchange rates, different accounting, auditing, financial reporting, and legal standards and practices; expropriation, changes in tax policy, greater market volatility, differing securities market structures, higher transaction costs, and various administrative difficulties, such as delays in clearing and settling portfolio transactions or in receiving payment of dividends. These risks may be heightened in connection with investments in emerging or developing countries.

86 (888) 848-7569 | www.rivernorth.com

RiverNorth/DoubleLine Strategic Opportunity Fund, Inc.

Summary of Updated Information Regarding the Fund June 30, 2026 (Unaudited)

Currency Risk. To the extent that the Fund invests in securities denominated in, and/or receiving revenues in, foreign currencies, it will be subject to currency risk. This is the risk that those currencies will decline in value relative to the U.S. dollar, or, in the case of hedging positions, that the U.S. dollar will decline in value relative to the currency hedged. In either event, the dollar value of an investment in the Fund would be adversely affected. Currencies may fluctuate significantly over short periods of time for a number of reasons, including changes in interest rates, intervention by U.S. or foreign governments, central banks or supranational agencies, such as the International Monetary Fund, or by the imposition of currency controls or other political developments in the United States or abroad.

Emerging Markets Risk. Investment in emerging market securities involves greater risk than that associated with investment in securities of issuers in developed foreign countries. These risks include volatile currency exchange rates, periods of high inflation, increased risk of default, greater social, economic and political uncertainty and instability, less governmental supervision and regulation of securities markets, weaker auditing and financial reporting standards, lack of liquidity in the markets, and the significantly smaller market capitalizations of emerging market issuers.

Sovereign Debt Obligation Risk. Investment in sovereign debt obligations involves special risks not present in corporate debt obligations. The issuer of the sovereign debt or the governmental authorities that control the repayment of the debt may be unable or unwilling to repay principal or interest when due, and the Fund and the Underlying Funds may have limited recourse in the event of a default. During periods of economic uncertainty, the market prices of sovereign debt may be more volatile than prices of U.S. debt obligations. In the past, certain emerging markets have encountered difficulties in servicing their debt obligations, withheld payments of principal and interest, and declared moratoria on the payment of principal and interest on their sovereign debts. Sovereign debt obligations are also subject to political risks (e.g., government instability, poor socioeconomic conditions, corruption, lack of democratic accountability, internal and external conflict, poor quality of bureaucracy, and religious and ethnic tensions) and economic risks (e.g., the relative size of the governmental entity's debt position in relation to the economy, high foreign debt as a percentage of gross domestic product or exports, high inflation or deflation, or an overvalued exchange rate) or a combination of these risks, such as the failure to put in place economic reforms required by the International Monetary Fund or other multilateral agencies.

U.S. Government Securities Risk. The Fund and the Underlying Funds may invest in U.S. government securities, which are obligations of, or guaranteed by, the U.S. government or its agencies, instrumentalities or government-sponsored enterprises. Some U.S. government securities are supported by the full faith and credit of the United States; others are supported by the right of the issuer to borrow from the U.S. Treasury; others are supported by the discretionary authority of the U.S. government to purchase the agency's obligations; and still others are supported only by the credit of the instrumentality. The U.S. government's guarantee of ultimate payment of principal and timely payment of interest on certain U.S. government securities owned by the Fund or an Underlying Fund does not imply that the Fund's or the Underlying Fund's shares are guaranteed or that the price of the Fund's or the Underlying Fund's shares will not fluctuate. In addition, securities issued by Freddie Mac, Fannie Mae and Federal Home Loan Banks are not obligations of, or insured by, the U.S. government. If a U.S. government agency or instrumentality in which the Fund or an Underlying Fund invests defaults, and the U.S. government does not stand behind the obligation, the Fund's or an Underlying Fund's share price or yield could fall. Securities of certain U.S. government sponsored entities are neither issued nor guaranteed by the U.S. government. All U.S. government obligations are subject to interest rate risk.

Annual Report | June 30, 2026 87

RiverNorth/DoubleLine Strategic Opportunity Fund, Inc.

Summary of Updated Information Regarding the Fund June 30, 2026 (Unaudited)

Municipal Securities Risk. Municipal securities are long-term fixed rate debt obligations that generally decline in value with increases in interest rates, when an issuer's financial condition worsens or when the rating on a bond is decreased. Many municipal securities may be called or redeemed prior to their stated maturity. Lower-quality revenue bonds and other credit-sensitive municipal securities carry higher risks of default than general obligation bonds. In addition, the amount of public information available about municipal securities is generally less than that for corporate equities or bonds and municipal securities may be less liquid than such securities. Special factors, such as legislative changes and local and business developments, may adversely affect the yield and/or value of the Fund's or Underlying Fund's investments in municipal securities. Other factors include the general conditions of the municipal securities market, the size of the particular offering, the maturity and the rating of the issue. The ability of municipal issuers to make timely payments of interest and principal may be diminished during general economic downturns and as cost burdens are reallocated among federal, state and local governments. Issuers of municipal securities might seek protection under bankruptcy laws. In the event of bankruptcy of such an issuer, holders of municipal securities could experience delays in collecting principal and interest and such holders may not be able to collect all principal and interest to which they are entitled.

Structured Notes Risk. Structured notes are subject to a number of fixed income risks including general market risk, interest rate risk, and the risk that the issuer on the note may fail to make interest and/or principal payments when due, or may default on its obligations entirely. In addition, as a result of the imbedded derivative features, structured notes generally are subject to more risk than investing in a simple note or bond issued by the same issuer. To the extent that the fixed income portion of the Fund's portfolio includes structured notes, the Fund may be more volatile. The actual trading prices of structured notes may be significantly different from the principal amount of the notes. If the Fund sells the structured notes prior to maturity, it may suffer a loss of principal.

Rating Agency Risk. Ratings represent an NRSRO's opinion regarding the quality of the security and are not a guarantee of quality. NRSROs may fail to make timely credit ratings in response to subsequent events. In addition, NRSROs are subject to an inherent conflict of interest because they are often compensated by the same issuers whose securities they grade.

Legislation and Regulatory Risks. At any time, legislation or additional regulations may be enacted that could negatively affect the assets of the Fund, securities held by the Fund or the issuers of such securities. Fund shareholders may incur increased costs resulting from such legislation or additional regulation. There can be no assurance that future legislation, regulation or deregulation will not have a material adverse effect on the Fund or will not impair the ability of the Fund to achieve its investment objective.

Market Events Risks. The value of the Fund's or Underlying Fund's investments may increase or decrease in response to expected, real or perceived economic, political or financial events in the U.S. or global markets. The frequency and magnitude of such changes in value cannot be predicted.

88 (888) 848-7569 | www.rivernorth.com

RiverNorth/DoubleLine Strategic Opportunity Fund, Inc.

Summary of Updated Information Regarding the Fund June 30, 2026 (Unaudited)

Certain securities and other investments held by the Fund or Underlying Funds may experience increased volatility, illiquidity, or other potentially adverse effects in response to changing market conditions, inflation, changes in interest rates, lack of liquidity in the bond or equity markets, volatility in the equity markets, market disruptions caused by local or regional events such as war, acts of terrorism, the spread of infectious illness (including epidemics and pandemics) or other public health issues, financial institution instability, trade disruption, recessions or other events or adverse investor sentiment or other political, regulatory, and market developments (including the threatened or actual imposition of tariffs, restrictions on foreign investment and currency repatriation), and developments that impact specific economic sectors, industries or segments of the market. Additionally, from time to time, uncertainty regarding the status of negotiations in the U.S. government to increase the statutory debt ceiling could impact the creditworthiness of the U.S. and could impact the liquidity of the U.S. government securities markets and ultimately the Fund. These risks may be magnified if certain events or developments adversely interrupt the global supply chain; in these and other circumstances, such risks might affect companies worldwide due to increasingly interconnected global economies and financial markets.

Additionally, various countries have seen significant internal conflicts and, in some cases, civil wars may have had an adverse impact on the securities markets of the countries concerned. In addition, the occurrence of new disturbances due to acts of war or terrorism or other political developments cannot be excluded. Nationalization, expropriation or confiscatory taxation, currency blockage, political changes, government regulation, political, regulatory or social instability or uncertainty or diplomatic developments, including the imposition of sanctions or other similar measures, could adversely affect the Fund's investments.

The impairment or failure of one or more banks with whom the Fund transacts may inhibit the Fund's ability to access depository accounts. In such cases, the Fund may be forced to delay or forgo investments, resulting in lower Fund performance. In the event of such a failure of a banking institution where the Fund holds depository accounts, access to such accounts could be restricted and U.S. Federal Deposit Insurance Corporation ("FDIC") protection may not be available for balances in excess of amounts insured by the FDIC. In such instances, the Fund may not recover such excess, uninsured amounts.

Recently, the United States has enacted or proposed to enact significant new tariffs, and various federal agencies have been directed to further evaluate key aspects of U.S. trade policy, which could potentially lead to significant changes to current policies, treaties, and tariffs. There continues to exist significant uncertainty about the future relationship between the U.S. and other countries with respect to such trade policies, treaties and tariffs. These developments, or the perception that any of them could occur, may have a material adverse effect on global trade, in particular, trade between the impacted nations and the U.S.; global financial markets' stability; and global economic conditions. These events could, in turn, adversely affect the Fund's performance.

Additionally, climate change poses long-term threats to physical and biological systems. Potential hazards and risks related to climate change for a State or municipality include, among other things, wildfires, rising sea levels, more severe coastal flooding and erosion hazards, and more intense storms. Storms in recent years have demonstrated vulnerabilities in a State's or municipality's infrastructure to extreme weather events. Climate change risks, if they materialize, can adversely impact a State's or municipality's financial plan in current or future years. In addition, economists and others have expressed increasing concern about the potential effects of global climate change on property and security values. A rise in sea levels, an increase in powerful windstorms and/or a climate-driven increase in sea levels or flooding could cause coastal properties to lose value or become unmarketable altogether. Economists warn that, unlike previous declines in the real estate market, properties in affected coastal zones may not ever recover their value. Large wildfires driven by high winds and prolonged drought may devastate businesses and entire communities and may be very costly to any business found to be responsible for the fire. Regulatory changes and divestment movements tied to concerns about climate change could adversely affect the value of certain land and the viability of industries whose activities or products are seen as accelerating climate change.

Annual Report | June 30, 2026 89

RiverNorth/DoubleLine Strategic Opportunity Fund, Inc.

Summary of Updated Information Regarding the Fund June 30, 2026 (Unaudited)

These losses could adversely affect the bonds of municipalities that depend on tax or other revenues and tourist dollars generated by affected properties, and insurers of the property and/or of municipal securities. Since property and security values are driven largely by buyers' perceptions, it is difficult to know the time period over which these market effects might unfold.

Artificial Intelligence Risk. Advancements in technology may also adversely impact markets and the overall performance of the Fund. For instance, the economy may be significantly impacted by the advanced development and increased regulation of artificial intelligence. As the use of technology grows, liquidity and market movements may be affected. As artificial intelligence is used more widely, the profitability and growth of Fund holdings may be impacted, which could significantly impact the overall performance of the Fund. This risk has been added since the prior disclosure date.

Defensive Measures. The Fund may invest up to 100% of its assets in cash, cash equivalents and short-term investments as a defensive measure in response to adverse market conditions or opportunistically at the discretion of the Adviser or Subadviser. During these periods, the Fund may not be pursuing its investment objectives.

Alternative Credit and Pass-Through Notes Risk. Alternative Credit Instruments are generally not rated and constitute a highly risky and speculative investment, similar to an investment in "junk" bonds. There can be no assurance that payments due on underlying Alternative Credit investments will be made. The Shares therefore should be purchased only by investors who could afford the loss of the entire amount of their investment. A substantial portion of the Alternative Credit in which the Fund may invest will not be secured by any collateral, will not be guaranteed or insured by a third party and will not be backed by any governmental authority. Accordingly, the platforms and any third-party collection agencies will be limited in their ability to collect on defaulted Alternative Credit. With respect to Alternative Credit secured by collateral, there can be no assurance that the liquidation of any such collateral would satisfy a borrower's obligation in the event of a default under its Alternative Credit. Furthermore, Alternative Credit may not contain any cross-default or similar provisions. A cross-default provision makes a default under certain debt of a borrower an automatic default on other debt of that borrower. The effect of this can be to allow other creditors to move more quickly to claim any assets of the borrower. To the extent an Alternative Credit investment does not contain a cross-default provision, the loan will not be placed automatically in default upon that borrower's default on any of the borrower's other debt obligations, unless there are relevant independent grounds for a default on the loan. In addition, the Alternative Credit investment will not be referred to a third-party collection agency for collection because of a borrower's default on debt obligations other than the Alternative Credit investment. If a borrower first defaults on debt obligations other than the Alternative Credit investment, the creditors to such other debt obligations may seize the borrower's assets or pursue other legal action against the borrower, which may adversely impact the ability to recoup any principal and interest payments on the Alternative Credit investment if the borrower subsequently defaults on the loan. In addition, an operator of a platform is generally not required to repurchase Alternative Credit investments from a lender except under very narrow circumstances, such as in cases of verifiable identity fraud by the borrower. Borrowers may seek protection under federal bankruptcy law or similar laws. If a borrower files for bankruptcy (or becomes the subject of an involuntary petition), a stay will go into effect that will automatically put any pending collection actions on hold and prevent further collection action absent bankruptcy court approval. Whether any payment will ultimately be made or received on an Alternative Credit investment after bankruptcy status is declared depends on the borrower's particular financial situation and the determination of the court. It is possible that the borrower's liability on the Alternative Credit investment will be discharged in bankruptcy. In most cases involving the bankruptcy of a borrower with an unsecured Alternative Credit investment, unsecured creditors will receive only a fraction of any amount outstanding on their loan, if anything at all. As Pass-Through Notes generally are pass-through obligations of the operators of the lending platforms and are not direct obligations of the borrowers under the underlying Alternative Credit investment originated by such platforms, holders of certain Pass-Through Notes are exposed to the credit risk of the operator. An operator that becomes subject to bankruptcy proceedings may be unable to make full and timely payments on its Pass-Through Notes even if the borrowers of the underlying Alternative Credit investment timely make all payments due from them. Although some operators have chosen to address operator insolvency risk by organizing special purpose subsidiaries to issue the Pass-Through Notes, there can be no assurance that any such subsidiary would not be consolidated into the operator's bankruptcy estate should the operator become subject to bankruptcy proceedings. In such event, the holders of the Pass-Through Notes would remain subject to all the risks associated with an operator insolvency. In addition, Pass-Through Notes are non-recourse obligations (except to the extent that the operator receives payments from the borrower on the loan). Accordingly, lenders assume all the borrower credit risk on the loans they fund and are not entitled to recover any deficiency of principal or interest from the operator if the borrower defaults on its payments. There may be a delay between the time the Fund commits to purchase a Pass-Through Note and the issuance of such note and, during such delay, the funds committed to such an investment will not be available for investment in other Alternative Credit Instruments. Because the funds committed to an investment in Pass-Through Notes do not earn interest until the issuance of the note, the delay in issuance will have the effect of reducing the effective rate of return on the investment.

90 (888) 848-7569 | www.rivernorth.com

RiverNorth/DoubleLine Strategic Opportunity Fund, Inc.

Summary of Updated Information Regarding the Fund June 30, 2026 (Unaudited)

Platform Concentration Risk. The Fund may invest 25% or more of its Managed Assets in Alternative Credit originated from one or a limited number of platform(s). A concentration in select platforms may subject the Fund to increased dependency and risks associated with those platforms than it would otherwise be subject to if it were more broadly diversified across a greater number of platforms. The Fund may be more susceptible to adverse events affecting such platforms, particularly if such platforms were unable to sustain their current lending models. In addition, many platforms and/or their affiliated entities have incurred operating losses since their inception and may continue to incur net losses in the future. The Fund's concentration in certain platforms may also expose it to increased risk of default and loss on the Alternative Credit in which it invests through such platforms if such platforms have, among other characteristics, lower borrower credit criteria or other minimum eligibility requirements, or have deficient procedures for conducting credit and interest rate analyses as part of their loan origination processes, relative to other platforms. In addition, the fewer platforms through which the Fund invests, the greater the risks associated with those platforms changing their arrangements will become. For instance, the platforms may change their underwriting and credit models, borrower acquisition channels and quality of debt collection procedures in ways which may make the loans originated through such platforms unsuitable for investment by the Fund. Moreover, a platform may become involved in a lawsuit, which may adversely impact that platform's performance and reputation and, in turn, the Fund's portfolio performance. An investor may become dissatisfied with a platform's marketplace if a loan underlying its investment is not repaid and it does not receive full payment. As a result, such platform's reputation may suffer and the platform may lose investor confidence, which could adversely affect investor participation on the platform's marketplace.

Annual Report | June 30, 2026 91

RiverNorth/DoubleLine Strategic Opportunity Fund, Inc.

Summary of Updated Information Regarding the Fund June 30, 2026 (Unaudited)

Platform Reliance Risk. The Fund is dependent on the continued success of the platforms that originate the Fund's Alternative Credit Instruments and the Fund materially depends on such platforms for loan data and the origination, sourcing and servicing of Alternative Credit investments. If such platforms were unable or impaired in their ability to operate their lending business, the Adviser may be required to seek alternative sources of investments (e.g., Alternative Credit originated by other platforms), which could adversely affect the Fund's performance and/or prevent the Fund from pursuing its investment objective and strategies. In order to sustain its business, platforms and their affiliated entities may be dependent in large part on their ability to raise additional capital to fund their operations. If a platform and its affiliated entities are unable to raise additional funding, they may be unable to continue their operations. The Fund may have limited knowledge about the underlying Alternative Credit in which it invests and will be dependent upon the platform originating such loans for information on the loans. Some investors of Alternative Credit Instruments, including the Fund, may not review the particular characteristics of the loans in which they invest at the time of investment, but rather negotiate in advance with platforms the general criteria of the investments. As a result, the Fund is dependent on the platforms' ability to collect, verify and provide information to the Fund about each Alternative Credit investment and borrower. Each of the platforms from which the Fund will purchase Alternative Credit Instruments retains an independent auditor to conduct audits on a routine basis.

Structural Risks:

Market Discount. Common stock of CEFs frequently trades at a discount from its NAV. This risk may be greater for investors selling their shares in a relatively short period of time after completion of the initial offering. The Fund's Common Shares may trade at a price that is less than the initial offering price. This risk would also apply to the Fund's investments in CEFs.

Investment Style Risk. The Fund is managed by allocating the Fund's assets to three different strategies, which could cause the Fund to underperform funds that do not limit their investments to these three strategies during periods when these strategies underperform other types of investments.

Multi-Manager Risk. The Adviser and the Subadviser's investment styles may not always be complementary, which could adversely affect the performance of the Fund. The Adviser and the Subadviser may, at any time, take positions that in effect may be opposite of positions taken by each other, incurring brokerage and other transaction costs without accomplishing any net investment results. The multi-manager approach could increase the Fund's portfolio turnover rates, which may result in higher trading costs and tax consequences associated with portfolio turnover that may adversely affect the Fund's performance. Further, if the Subadviser is not retained, Fund performance will become dependent on the Adviser or a new subadviser successfully implementing the municipal bond income strategy, which might have adverse effect on an investment in the Fund.

92 (888) 848-7569 | www.rivernorth.com

RiverNorth/DoubleLine Strategic Opportunity Fund, Inc.

Summary of Updated Information Regarding the Fund June 30, 2026 (Unaudited)

Asset Allocation Risk. To the extent that the Adviser's asset allocation between the Fund's principal investment strategies may fail to produce the intended result, the Fund's return may suffer. Additionally, the potentially active asset allocation style of the Fund may lead to changing allocations over time and represent a risk to investors who target fixed asset allocations.

Leverage Risks. Leverage is a speculative technique that exposes the Fund to greater risk and increased costs than if it were not implemented. Increases and decreases in the value of the Fund's portfolio will be magnified when the Fund uses leverage. As a result, leverage may cause greater changes in the Fund's NAV. The leverage costs may be greater than the Fund's return on the underlying investments made from the proceeds of leverage. The Fund's leveraging strategy may not be successful. Leverage risk would also apply to the Fund's investments in Underlying Funds to the extent an Underlying Fund uses leverage. To the extent the Fund uses leverage and invests in Underlying Funds that also use leverage, the risks associated with leverage will be magnified, potentially significantly.

Potential Conflicts of Interest Risk. The Adviser and the Subadviser each manages and/or advises other investment funds or accounts with the same or similar investment objectives and strategies as the Fund, and, as a result may face conflicts of interest regarding the implementation of the Fund's strategy and allocation between funds and accounts. This may limit the Fund's ability to take full advantage of the investment opportunity or affect the market price of the investment. Each party may also have incentives to favor one account over another due to different fees paid to such accounts. While each party has adopted policies and procedures that address these potential conflicts of interest, there is no guarantee that the policies will be successful in mitigating the conflicts of interest that arise. In addition, the Fund's use of leverage will increase the amount of the fees paid to the Adviser and Subadviser, creating a financial incentive for the Adviser to leverage the Fund.

Liquidity Risks. Although the Shares are listed on the NYSE, there might be no or limited trading volume in the Fund's Shares. Moreover, there can be no assurance that the Fund will continue to meet the listing eligibility requirements of a national securities exchange. Accordingly, investors may be unable to sell all or part of their Shares in a particular timeframe. Shares in the Fund are therefore suitable only for investors that can bear the risks associated with the limited liquidity of Shares and should be viewed as a long-term investment.

Unlike open-end funds (commonly known as mutual funds) which generally permit redemptions on a daily basis, Shares will not be redeemable at an investor's option. The NAV of the Shares may be volatile. The Fund is designed for long-term investors and not as a trading vehicle. Moreover, the Shares will not be eligible for "short sale" transactions or other directional hedging products. This risk has been added since the prior disclosure date.

Annual Report | June 30, 2026 93

RiverNorth/DoubleLine Strategic Opportunity Fund, Inc.

Summary of Updated Information Regarding the Fund June 30, 2026 (Unaudited)

Stockholder Activism. The Fund may in the future become the target of stockholder activism. Stockholder activism could result in substantial costs and divert management's and the Board's attention and resources from its business, and the Fund may incur substantial costs defending against such activism if management and the Board determine that the activist's demands are not in the best interests of the Fund. Also, the Fund may be required to incur significant legal and other expenses related to any activist stockholder matters. Further, the Fund's stock price could be subject to significant fluctuation or otherwise be adversely affected by the events, risks and uncertainties of any stockholder activism.

Cybersecurity Risk. A cybersecurity breach may disrupt the business operations of the Fund or its service providers. Cybersecurity breaches can result from both intentional and unintentional events, and breach may allow an unauthorized party to gain access to Fund assets, customer data, or proprietary information, or cause the Fund and/or its service providers to suffer data corruption or lose operational functionality. Such events could result in regulatory penalties, reputational damage, additional compliance costs, and/or financial loss to the Fund.

Anti-Takeover Provisions. Maryland law and the Fund's Charter and Bylaws include provisions that could limit the ability of other entities or persons to acquire control of the Fund or to convert the Fund to open-end status, including the adoption of a staggered Board of Directors and the supermajority voting requirements. These provisions could deprive the common shareholders of opportunities to sell their common shares at a premium over the then current market price of the common shares or at NAV.

Risks Associated with Additional Offerings. There are risks associated with offerings of additional common or preferred shares of the Fund. The voting power of current shareholders will be diluted to the extent that current shareholders do not purchase shares in any future offerings of shares or do not purchase sufficient shares to maintain their percentage interest. In addition, the sale of shares in an offering may have an adverse effect on prices in the secondary market for the Fund's shares by increasing the number of shares available, which may put downward pressure on the market price of the Fund's Shares. These sales also might make it more difficult for the Fund to sell additional equity securities in the future at a time and price the Fund deems appropriate.

In the event any additional series of fixed rate preferred shares are issued and such shares are intended to be listed on an exchange, prior application will have been made to list such shares. During an initial period, which is not expected to exceed 30 days after the date of its initial issuance, such shares may not be listed on any securities exchange. During such period, the underwriters may make a market in such shares, although they will have no obligation to do so. Consequently, an investment in such shares may be illiquid during such period. Fixed rate preferred shares may trade at a premium to or discount from liquidation value.

There are risks associated with an offering of Rights (in addition to the risks discussed herein related to the offering of shares and preferred shares). Shareholders who do not exercise their rights may, at the completion of such an offering, own a smaller proportional interest in the Fund than if they exercised their rights. As a result of such an offering, a shareholder may experience dilution in NAV per share if the subscription price per share is below the NAV per share on the expiration date. In addition to the economic dilution described above, if a shareholder does not exercise all of their Rights, the shareholder will incur voting dilution as a result of the Rights offering. This voting dilution will occur because the shareholder will own a smaller proportionate interest in the Fund after the rights offering than prior to the Rights offering.

94 (888) 848-7569 | www.rivernorth.com

RiverNorth/DoubleLine Strategic Opportunity Fund, Inc.

Summary of Updated Information Regarding the Fund June 30, 2026 (Unaudited)

There is a risk that changes in market conditions may result in the underlying common shares or preferred shares purchasable upon exercise of Rights being less attractive to investors at the conclusion of the subscription period. This may reduce or eliminate the value of the Rights. If investors exercise only a portion of the rights, the number of shares issued may be reduced, and the shares may trade at less favorable prices than larger offerings for similar securities. Rights issued by the Fund may be transferable or non-transferable rights.

Secondary Market for the Common Shares. The issuance of shares of the Fund through the Fund's dividend reinvestment plan ("Plan") may have an adverse effect on the secondary market for the Fund's shares. The increase in the number of outstanding shares resulting from the issuances pursuant to the Plan and the discount to the market price at which such shares may be issued, may put downward pressure on the market price for the Common Shares. When the shares are trading at a premium, the Fund may also issue shares that may be sold through private transactions effected on the NYSE or through broker-dealers. The increase in the number of outstanding shares resulting from these offerings may put downward pressure on the market price for such shares.

Portfolio Manager Information

There have been no changes in the Fund's portfolio managers or background since the prior disclosure date.

Fund Organizational Structure

Since the prior disclosure date, there have been no changes in the Fund's charter or by-laws that would delay or prevent a change of control of the Fund that have not been approved by shareholders.

Unresolved Staff Comments

The Fund believes that there are no material unresolved written comments, received 180 days or more before June 30, 2026, from the Staff of the SEC regarding any of its periodic or current reports under the Securities Exchange Act of 1934 or the 1940 Act, or its registration statement.

Annual Report | June 30, 2026 95

RiverNorth/DoubleLine Strategic Opportunity Fund, Inc.

Directors and Officers June 30, 2026 (Unaudited)

The following table provides information regarding each Director who is not an "interested person" of the Fund, as defined in the 1940 Act.

INDEPENDENT DIRECTORS

Name,

Address1 and

Year of Birth

Position(s)

Held with

the Fund

Term of

Office and

Length of

Time Served

Principal Occupation(s)

During Past 5 Years

Number of

Funds in

Fund

Complex

Overseen

by Director2

Other Directorships

Held by the Director

During the Past 5 Years

John K. Carter

(1961)

Director Current term expires in 2027. Has served since 2016. Founder, Special Counsel, Law Office of Osprey Law Firm P.A. (formerly known as the Law Office of John K. Carter P.A.) (a general practice and corporate law firm) (2015 to present). 10 Carillon Mutual Funds (15 funds) (2016 to present).

Lisa B. Mougin

(1972)

Director Current term expires in 2027. Has served since 2022. Chief Investment Officer of Capital Sisters International (a non-profit)(2023 to present); President & Chief Operating Officer at Positivly and Louise, each a TIFIN Company (a fintech software company) (2020 to 2022). 10 N/A

David M. Swanson

(1957)

Director Current term expires in 2026. Has served since 2018. Founder & Managing Partner, SwanDog Strategic Marketing (2006 to present). 10 Managed Portfolio Series (31 funds) (2011 to present); ALPS Variable Investment Trust (7 funds) (2006 to 2025).

1 The mailing address of each Director is 360 South Rosemary Avenue, Suite 1420, West Palm Beach, FL 33401.
2 The Fund Complex consists of the RiverNorth/DoubleLine Strategic Income Fund, and the RiverNorth/Oaktree High Income Fund, each a series of the RiverNorth Funds, RiverNorth Opportunities Fund, Inc., RiverNorth/DoubleLine Strategic Opportunity Fund, Inc., RiverNorth Opportunistic Municipal Income Fund, Inc., RiverNorth Flexible Municipal Income Fund, Inc., RiverNorth Flexible Municipal Income Fund II, Inc., RiverNorth Managed Duration Municipal Income Fund, Inc., RiverNorth Managed Duration Municipal Income Fund II, Inc. and RiverNorth Capital and Income Fund, Inc.
96 (888) 848-7569 | www.rivernorth.com

RiverNorth/DoubleLine Strategic Opportunity Fund, Inc.

Directors and Officers June 30, 2026 (Unaudited)

The following table provides information regarding each Director who is an "interested person" of the Fund, as defined in the 1940 Act, and each officer of the Fund.

INTERESTED DIRECTORS AND OFFICERS

Name,

Address1 and

Year of Birth

Position(s)

Held with

Registrant

Term of

Office and

Length of

Time Served

Principal Occupation(s)

During Past 5 Years

Number of

Funds in

Fund

Complex

Overseen

by Director2

Other Directorships

Held by the Director

During the Past 5 Years

Patrick W. Galley3

(1975)

Interested Director, Chairman and President Current term expires in 2026. Has served as Director since 2016, and as Chairman and President since 2022. Chief Executive Officer, RiverNorth Capital Management, LLC (2020 to present); Chief Investment Officer, RiverNorth Capital Management, LLC (2004 to present). 10 N/A

Jerry R. Raio

(1964)4

Interested Director Current term expires in 2028. Has served since 2018. Partner, Compoundr LLC (since 2025); President, Arbor Lane Advisors, Inc. (2018 to present); Advisory Board Member of each of FLX Distribution, (2020 to present); Quantify Crypto (2021 to present); ETF Action (2022 to present); Qudos Technologies (2019 to 2022). 10 N/A

Jonathan M. Mohrhardt

(1974)

Treasurer and Chief Financial Officer Indefinite. Has served since 2016. President, RiverNorth Capital Management, LLC (2020 to present); Chief Operating Officer, RiverNorth Capital Management, LLC (2011 to present). N/A N/A
Annual Report | June 30, 2026 97

RiverNorth/DoubleLine Strategic Opportunity Fund, Inc.

Directors and Officers June 30, 2026 (Unaudited)
INTERESTED DIRECTORS AND OFFICERS

Name,

Address1 and

Year of Birth

Position(s)

Held with

Registrant

Term of

Office and

Length of

Time Served

Principal Occupation(s)

During Past 5 Years

Number of

Funds in

Fund

Complex

Overseen

by Director2

Other Directorships

Held by the Director

During the Past 5 Years

Marcus L. Collins

(1968)

Chief Compliance Officer; Secretary Indefinite. Has served since 2016. General Counsel, RiverNorth Capital Management, LLC (2012 to present); Chief Compliance Officer, RiverNorth Capital Management, LLC (2012 to present). N/A N/A

1 The mailing address of each Director and officer, unless otherwise noted, is 360 South Rosemary Avenue, Suite 1420, West Palm Beach, FL 33401.
2 The Fund Complex consists of the RiverNorth/DoubleLine Strategic Income Fund, and the RiverNorth/Oaktree High Income Fund, each a series of the RiverNorth Funds, RiverNorth Opportunities Fund, Inc., RiverNorth/DoubleLine Strategic Opportunity Fund, Inc., RiverNorth Opportunistic Municipal Income Fund, Inc., RiverNorth Flexible Municipal Income Fund, Inc., RiverNorth Flexible Municipal Income Fund II, Inc., RiverNorth Managed Duration Municipal Income Fund, Inc., RiverNorth Managed Duration Municipal Income Fund II, Inc. and RiverNorth Capital and Income Fund, Inc.
3 Patrick W. Galley is considered an "Interested" Director as defined in the 1940 Act, because he is an officer of the Fund and Chief Executive Officer and Chief Investment Officer of the Adviser.
4 Jerry Raio is considered an "Interested" Director as defined in the 1940 Act, because of his current position as an advisory board member of FLX Distribution, which the Adviser is an investor in and Mr. Galley is a Director of.

The Statement of Additional Information includes additional information about the Fund's Directors and is available, without charge, upon request by calling (toll-free) 1-888-848-7569.

98 (888) 848-7569 | www.rivernorth.com

RiverNorth/DoubleLine Strategic Opportunity Fund, Inc.

Additional Information June 30, 2026 (Unaudited)

PROXY VOTING GUIDELINES

A description of the policies and procedures that the Fund used to determine how to vote proxies relating to portfolio securities and information regarding how the Fund voted proxies during the most recent 12-month period ended June 30, are available without charge upon request by (1) calling the Fund at (888) 848-7569 and (2) from Form N-PX filed by the Fund with the U.S. Securities and Exchange Commission ("SEC") on the SEC's website at www.sec.gov.

PORTFOLIO HOLDINGS DISCLOSURE POLICY

The Fund files a complete schedule of investments with the SEC for the first and third quarter of the fiscal year on Part F of Form N-PORT. The Fund's first and third fiscal quarters end on September 30 and March 31. The Form N-PORT filing must be filed within 60 days of the end of the quarter. The Fund's Form N-PORT is available on the SEC's website at www.sec.gov. You may also obtain copies by calling the Fund at 1-888-848-7569.

UNAUDITED TAX INFORMATION

For the fiscal year ended June 30, 2026, 80.97% of the distributions from net investment income for the RiverNorth Doubleline Strategic Opportunity Fund, Inc. were exempt from federal income tax.

The RiverNorth Closed End Funds designated the following for federal income tax purposes for the year ended June 30, 2026:

Foreign Taxes Paid Foreign Source Income
RiverNorth DoubleLine Strategic Opportunity Fund $0 $0

Of the distributions paid by the Funds from ordinary income for the calendar year ended December 31, 2025, the following percentages met the requirements to be treated as qualifying for the corporate dividends received deduction and qualified dividend income:

Dividend Received
Deduction 		Qualified Dividend
Income
RiverNorth DoubleLine Strategic Opportunity 0.00% 0.00%

In early 2026, if applicable, shareholders of record received this information for the distributions paid to them by the Funds during the calendar year 2025 via Form 1099. The Funds will notify shareholders in early 2027 of amounts paid to them by the Funds, if any, during the calendar year 2026.

Annual Report | June 30, 2026 99

Board of Directors

Patrick W. Galley, CFA, Chairman

John K. Carter

David M. Swanson

Jerry R. Raio

Lisa B. Mougin

Investment Adviser

RiverNorth Capital Management, LLC

Sub Adviser

DoubleLine Capital LP

Fund Administrator

ALPS Fund Services, Inc.

Transfer Agent and

Dividend Disbursing Agent

DST Systems, Inc.

Custodian

State Street Bank and Trust Company

Inspira Financial Trust, LLC

Independent Registered

Public Accounting Firm

KPMG LLP

RiverNorth Capital Management, LLC

360 South Rosemary Avenue, Suite 1420

West Palm Beach, FL 33401

Secondary market support provided to the Fund by ALPS Fund Services, Inc.'s affiliate ALPS Distributors, Inc., a FINRA member.

This report is provided for the general information of the shareholders of the RiverNorth/DoubleLine Strategic Opportunity Fund, Inc. This report is not intended for distribution to prospective investors in the Fund, unless preceded or accompanied by an effective prospectus.

(b) Not applicable.
Item 2. Code of Ethics.
(a) The RiverNorth/DoubleLine Strategic Opportunity Fund, Inc. (the "Fund" or the "Registrant"), as of the end of the period covered by the report, has adopted a Code of Ethics that applies to the Registrant's Principal Executive Officer, Principal Financial Officer, Principal Accounting Officer or Controller or any persons performing similar functions on behalf of the Registrant.
(b) Not applicable.
(c) During the period covered by this report, no amendments were made to the provisions of the Code of Ethics referenced in 2(a) above.
(d) During the period covered by this report, no implicit or explicit waivers to the provision of the Code of Ethics referenced in 2(a) above were granted.
(e) Not applicable.
(f) The Registrant has included with this filing, pursuant to Item 19(a)(1), a copy of its code of ethics that applies to the Registrant's Principal Executive Officer, Principal Financial Officer, Principal Accounting Officer or Controller, or persons performing similar functions, as an exhibit to its annual report on this Form N-CSR.
Item 3. Audit Committee Financial Expert.

The Registrant's Board of Directors has determined that the Registrant has at least one audit committee financial expert serving on its Audit Committee. The Board of Directors has designated Lisa B. Mougin as the Registrant's "audit committee financial expert." Ms. Mougin is "independent" as defined in paragraph (a)(2) of Item 3 to Form N-CSR.

Item 4. Principal Accountant Fees and Services.
(a) Audit Fees: For the Registrant's fiscal years ended June 30, 2026 and June 30, 2025, the aggregate fees billed for professional services rendered by KPMG LLP ("KPMG") for the audit of the Registrant's annual financial statements or services that are normally provided by the accountant in connection with statutory and regulatory filings or engagements were $88,500 and $88,750, respectively. For the Registrant's fiscal years ended June 30, 2026 and June 30, 2025, the aggregate fees billed for professional services rendered by Cohen & Company, Ltd. ("Cohen") for the audit of the Registrant's annual financial statements or services that are normally provided by the accountant in connection with statutory and regulatory filings or engagements were $0 and $0, respectively.
(b) Audit-Related Fees: For the Registrant's fiscal years ended June 30, 2026 and June 30, 2025, the aggregate fees billed for assurance and related services by KPMG that are reasonably related to the performance of the audit of the Registrant's financial statements and are not reported under paragraph (a) of this Item were $3,750 and $18,750, respectively. For the Registrant's fiscal years ended June 30, 2026 and June 30, 2025, the aggregate fees billed for assurance and related services by Cohen that are reasonably related to the performance of the audit of the Registrant's financial statements and are not reported under paragraph (a) of this Item were $0 and $1,750, respectively. These fees are comprised of fees relating to auditor consents provided for U.S. Securities and Exchange Commission filings for various offerings.
(c) Tax Fees: For the Registrant's fiscal years ended June 30, 2026 and June 30, 2025, the aggregate fees billed for professional services rendered by KPMG for tax compliance, tax advice, and tax planning were $10,500 and $10,300, respectively. These fees are comprised of fees relating to income tax return preparation fees, excise tax return preparation fees and review of dividend distribution calculation fees.
(d) All Other Fees: For the Registrant's fiscal years ended June 30, 2026 and June 30, 2025, the aggregate fees billed for products and services provided by KPMG, other than the services reported in paragraphs (a) through (c) of this Item were $0 and $0, respectively. For the Registrant's fiscal years ended June 30, 2026 and June 30, 2025, the aggregate fees billed for products and services provided by Cohen, other than the services reported in paragraphs (a) through (c) of this Item were $0 and $0, respectively. These fees are comprised of fees relating to research regarding recognition and treatment of income.
(e)(1) Audit Committee Pre-Approval Policies and Procedures: All services to be performed by the Registrant's principal auditors must be pre-approved by the Registrant's Audit Committee or by the Audit Committee's designee pursuant to the Audit Committee's Pre-Approval Policies and Procedures.
(e)(2) No services described in paragraphs (b) through (d) were approved pursuant to paragraph (c)(7)(i)(C) of Rule 2-01 of Regulation S-X.
(f) Not applicable.
(g) The aggregate non-audit fees billed by the Registrant's accountant for services rendered to the Registrant, and rendered to the Registrant's investment adviser, RiverNorth Capital Management, LLC ("RiverNorth" or the "Adviser"), and any entity controlling, controlled by, or under common control with the investment adviser that provides ongoing services to the Registrant for the fiscal years ended June 30, 2026 and June 30, 2025 were $0 and $0, respectively. For the fiscal years ended June 30, 2026 and June 30, 2025, KPMG and Cohen, respectively, did not bill the Registrant for products and services other than the services reported above.
(h) Not applicable.
(i) Not applicable.
(j) Not applicable.
Item 5. Audit Committee of Listed Registrants.
(a) The Registrant has a separately designated standing Audit Committee established in accordance with Section 3(a)(58)(A) of the Securities Exchange Act of 1934, as amended (the "1934 Act") and is comprised of the following members:

John K. Carter

Lisa B. Mougin, Chair

David M. Swanson

(b) Not applicable.
Item 6. Investments.
(a) A Summary Schedule of Investments is included as part of the Report to Stockholders filed under Item 1(a) of this Form N-CSR, and additional details are provided in the Schedule of Investments attached as Exhibit 19(d) hereto. Additionally attached as Exhibit 19(e) is the opinion rendered by KPMG, the fund's independent registered public accounting firm.
(b) Not applicable to the Registrant.
Item 7. Financial Statements and Financial Highlights for Open-End Management Investment Companies.

Not applicable to the Registrant.

Item 8. Changes in and Disagreements with Accountants for Open-End Management Investment Companies.

Not applicable to the Registrant.

Item 9. Proxy Disclosures for Open-End Management Investment Companies.

Not applicable to the Registrant.

Item 10. Remuneration Paid to Directors, Officers, and Others of Open-End Management Investment Companies.

Not applicable to the Registrant.

Item 11. Statement Regarding Basis for Approval of Investment Advisory Contract.

Not applicable.

Item 12. Disclosure of Proxy Voting Policies and Procedures for Closed-End Management Investment Companies.

Attached, as Exhibit 19(c), is a copy of the proxy voting policies and procedures of the Registrant.

Below is a description of the proxy voting policy and procedures of the Fund's subadviser:

The Adviser has delegated proxy-voting authority to the Fund's subadviser, DoubleLine Capital, LP ("DoubleLine" or the "Subadviser"). DoubleLine has adopted Proxy Voting, Corporate Actions and Class Actions Procedures designed to make sure that where clients have delegated proxy-voting authority to DoubleLine, proxies are voted in the best interest of such clients without regard to the interests of DoubleLine or related parties. DoubleLine currently uses Glass, Lewis & Co. ("Glass Lewis") as its proxy voting agent. Pursuant to an agreement with DoubleLine, Glass Lewis obtains proxy ballots with respect to securities held by one or more client accounts advised by DoubleLine, evaluates the individual facts and circumstances relating to any proposal, and, except as otherwise provided below, votes on any such proposal in accordance with the guidelines (the "Guidelines") in the Proxy Voting, Corporate Actions and Class Actions Procedures.

The Guidelines provide a basis for making decisions in the voting of proxies and taking action with respect to class actions or corporate actions for clients. When voting proxies or taking action with respect to class actions or corporate actions, DoubleLine's utmost concern in exercising its duties of loyalty and care is that all decisions be made in the best interests of the client and with the goal of maximizing the value of the client's investments. With this goal in mind, the Guidelines cover various categories of voting decisions and generally specify whether DoubleLine (or its designee) will vote (assuming it votes at all) for or against a particular type of proposal. The applicable portfolio managers who are primarily responsible for evaluating the individual holdings of the relevant client are responsible in the first instance for overseeing the voting of proxies and taking action with respect to class actions or corporate actions for such client (though they are not expected to review each such vote or action). Such portfolio managers may, in their discretion, vote proxies or take action with respect to class actions or corporate actions in a manner that is inconsistent with the Guidelines (or instruct Glass Lewis to do so) when they determine that doing so is in the best interests of the client. In making any such determination, the portfolio managers may, in their discretion, take into account the recommendations of appropriate members of DoubleLine's executive and senior management, other investment personnel and, if desired, an outside service.

Item 13. Portfolio Managers of Closed-End Management Investment Companies.

(a)(1) As of the filing date of this report on Form N-CSR, the portfolio managers of the Fund are as follows:

The Adviser

Patrick W. Galley, CFA has served as a co-portfolio manager of the Tactical Closed-End Fund Income Strategy for the Fund since its inception and the Alternative Credit Strategy since inception. Mr. Galley is the Chief Executive Officer and Chief Investment Officer for the Adviser. Mr. Galley heads the Adviser's research and investment team and oversees all portfolio management activities at the Adviser. Mr. Galley also serves as the President and Chairman of the RiverNorth Funds, a mutual fund complex for which RiverNorth serves as the investment adviser. Prior to joining the Adviser in 2004, he was most recently a Vice President at Bank of America in the Global Investment Bank's Portfolio Management group, where he specialized in analyzing and structuring corporate transactions for investment management firms in addition to closed-end and open-end funds, hedge funds, funds of funds, structured investment vehicles and insurance/reinsurance companies. Mr. Galley graduated with honors from Rochester Institute of Technology with a B.S. in Finance. He has received the Chartered Financial Analyst (CFA) designation, is a member of the CFA Institute and is a member of the CFA Society of Chicago.

Stephen O'Neill, CFA has served as a co-portfolio manager of the Tactical Closed-End Fund Income Strategy for the Fund since its inception and the Alternative Credit Strategy since inception. Mr. O'Neill conducts qualitative and quantitative analysis of closed-end funds and their respective asset classes at RiverNorth. Prior to joining RiverNorth in 2007, Mr. O'Neill was most recently an Assistant Vice President at Bank of America in the Global Investment Bank's Portfolio Management group. At Bank of America, he specialized in the corporate real estate, asset management, and structured finance industries. Mr. O'Neill graduated magna cum laude from Miami University in Oxford, Ohio with a B.S. in Finance. Mr. O'Neill has received the Chartered Financial Analyst (CFA) designation, is a member of the CFA Institute and is a member of the CFA Society of Chicago.

The Subadviser

Jeffrey E. Gundlach has served as a co-portfolio manager of the Opportunistic Income Strategy for the Fund since its inception. Mr. Gundlach is the founder, Chief Executive Officer and Chief Investment Officer of the Subadviser. He is also the Chairman of the Subadviser's Fixed Income Asset Allocation Committee. Mr. Gundlach is a graduate of Dartmouth College, summa cum laude, with degrees in Mathematics and Philosophy. He attended Yale University as a Ph.D. candidate in Mathematics.

Jeffrey J. Sherman has served as a co-portfolio manager of the Opportunistic Income Strategy for the Fund since its inception. Mr. Sherman joined the Subadviser in December 2009. He is the Deputy Chief Investment Officer, participates on the Fixed Income Asset Allocation Committee and is a portfolio manager for derivative-based and multi-asset strategies. Mr. Sherman was previously a statistics and mathematics instructor at both the University of the Pacific and Florida State University. Mr. Sherman holds a B.S. in Applied Mathematics from the University of the Pacific and a M.S. in Financial Engineering from the Claremont Graduate University. He is a CFA charterholder.

(a)(2) As of June 30, 2026, the Portfolio Managers listed above are also responsible for the day-to-day management of the following:

Number of Other Accounts Managed and Assets by Account Type
As of June 30, 2026
Portfolio Manager Registered Investment Companies
(other than the Fund) 		Registered Investment Companies Subject to Performance-Based Advisory Fees Other Pooled Investment Vehicles Other Pooled Investment Vehicles Subject to Performance-Based Advisory Fees Other Accounts Other Accounts Subject to Performance-Based Advisory Fees
Patrick W. Galley 15
$3.31B 		0
$0 		0
$0 		5
$1.11B 		0
$0 		10
$104.12M
Stephen A. O'Neill 13
$3.3B 		0
$0 		0
$0 		5
$1.11B 		0
$0 		10
$104.12M
Jeffrey E. Gundlach 30
$67.383B 		0
$0 		20
$6.506B 		2
$123.1M 		66
$20.304B 		3
$1.894B
Jeffrey J. Sherman 21
$30.604B 		0
$0 		10
$2.979B 		0
$0 		16
$4.228B 		0
$0

(a)(3) Compensation of Portfolio Managers and Material Conflicts of Interest

Adviser Compensation

As of June 30, 2026, Messrs. Galley's and O'Neill's total compensation package, like others in the Adviser's business, is a package designed to attract and retain investment professionals. The compensation package includes a base salary fixed from year to year. The amount of the base salary is assessed for its competitiveness in the industry and geographic location of the Adviser. The compensation package also provides for an annual but variable performance bonus. The performance bonus reflects individual performance of the portfolio manager in his or her allocated duties and responsibilities. While performance of the funds managed by the portfolio manager is considered in determining the annual performance bonus, it is but one factor. The overall success of the Adviser in its business objectives and the performance of the Adviser's business as a whole are more important factors than the investment performance of a particular fund or account. Messrs. Galley and O'Neill also participate in a 401K program on the same basis as other officers of the Adviser, which includes matching of employee contributions up to a certain percent of the portfolio manager's base salary. Those portfolio managers that are also equity stakeholders in the Adviser or its affiliates may also receive periodic distribution of profits from business operations.

Subadviser Compensation

As of June 30, 2026, Mr. Gundlach's and Mr. Sherman's total compensation is determined by the Subadviser. The overall objective of the compensation program for portfolio managers employed by the Subadviser is for the Subadviser to attract competent and expert investment professionals and to retain them over the long term. Compensation is comprised of several components which, in the aggregate, are designed to achieve these objectives and to reward the Subadviser's portfolio managers for their contribution to the success of their clients and the Subadviser. The Subadviser portfolio managers are compensated through a combination of base salary, discretionary bonus and equity participation in the Subadviser.

● Salary. Salary is agreed to with managers at time of employment and is reviewed from time to time. It does not change significantly and often does not constitute a significant part of the portfolio managers' compensation.
● Discretionary Bonus/Guaranteed Minimums. Portfolio managers receive discretionary bonuses. However, in some cases, pursuant to contractual arrangements, some portfolio managers may be entitled to a mandatory minimum bonus if the sum of their salary and profit sharing does not reach certain levels.
● Equity Incentives. Portfolio managers participate in equity incentives based on overall firm performance of the Subadviser, through direct ownership interests in the Subadviser. These ownership interests or participation interests provide eligible portfolio managers the opportunity to participate in the financial performance of the Subadviser as a whole. Participation is generally determined in the discretion of the Subadviser, taking into account factors relevant to the portfolio manager's contribution to the success of Subadviser.
● Other Plans and Compensation Vehicles. Portfolio managers may elect to participate in the Subadviser's 401(k) plan, to which they may contribute a portion of their pre- and post-tax compensation to the plan for investment on a tax-deferred basis. The Subadviser may also choose, from time to time to offer certain other compensation plans and vehicles, such as a deferred compensation plan, to portfolio managers.
● Summary. As described above, an investment professional's total compensation is determined through a subjective process that evaluates numerous quantitative and qualitative factors, including the contribution made to the overall investment process. Not all factors apply to each investment professional and there is no particular weighting or formula for considering certain factors. Among the factors considered are: relative investment performance of portfolios (although there are no specific benchmarks or periods of time used in measuring performance); complexity of investment strategies; participation in the investment team's dialogue; contribution to business results and overall business strategy; success of marketing/business development efforts and client servicing; seniority/length of service with the firm; management and supervisory responsibilities; and fulfillment of the Subadviser's leadership criteria.

Conflicts of Interest

Actual or apparent conflicts of interest may arise when a portfolio manager has day-to-day management responsibilities with respect to more than one fund or other accounts. More specifically, portfolio managers who manage multiple funds are presented with the following potential conflicts, among others:

The management of multiple accounts may result in a portfolio manager devoting unequal time and attention to the management of each account. The management of multiple funds and accounts also may give rise to potential conflicts of interest if the funds and accounts have different objectives, benchmarks, time horizons and fees as the portfolio manager must allocate his time and investment ideas across multiple funds and accounts. Another potential conflict of interest may arise where another account has the same or similar investment objective as the Fund, whereby the portfolio manager could favor one account over another.

With respect to securities transactions for the Fund, the Adviser or Subadviser determines which broker to use to execute each order, consistent with the duty to seek best execution of the transaction. A portfolio manager may execute transactions for another fund or account that may adversely impact the value of securities held by the Fund. Securities selected for funds or accounts other than the Fund may outperform the securities selected for the Fund. Further, a potential conflict could include a portfolio manager's knowledge about the size, timing and possible market impact of Fund trades, whereby they could use this information to the advantage of other accounts and to the disadvantage of the Fund. These potential conflicts of interest could create the appearance that a portfolio manager is favoring one investment vehicle over another.

The management of personal accounts also may give rise to potential conflicts of interest. Although a portfolio manager generally does not trade securities in his or her own personal account, the Adviser, the Subadviser and the Fund have each adopted a code of ethics that, among other things, permits personal trading by employees (including trading in securities that can be purchased, sold or held by the Fund) under conditions where it has been determined that such trades would not adversely impact client accounts. Nevertheless, the management of personal accounts may give rise to potential conflicts of interest, and there is no assurance that these codes of ethics will adequately address such conflicts.

Conflicts potentially limiting the Fund's investment opportunities may also arise when the Fund and other clients of the Adviser or Subadviser invest in, or even conduct research relating to, different parts of an issuer's capital structure, such as when the Fund owns senior debt obligations of an issuer and other clients own junior tranches of the same issuer. In such circumstances, decisions over whether to trigger an event of default, over the terms of any workout, or how to exit an investment may result in conflicts of interest. In order to minimize such conflicts, a portfolio manager may avoid certain investment opportunities that would potentially give rise to conflicts with other clients of the Adviser or Subadviser or result in the Adviser or Subadviser receiving material, non-public information, or the Adviser or Subadviser may enact internal procedures designed to minimize such conflicts, which could have the effect of limiting the Fund's investment opportunities. Additionally, if the Adviser or Subadviser acquires material non-public confidential information in connection with its business activities for other clients, a portfolio manager or other investment personnel may be restricted from purchasing securities or selling certain securities for the Fund or other clients. When making investment decisions where a conflict of interest may arise, the Adviser and Subadviser will endeavor to act in a fair and equitable manner between the Fund and other clients; however, in certain instances the resolution of the conflict may result in the Adviser or Subadviser acting on behalf of another client in a manner that may not be in the best interest, or may be opposed to the best interest, of the Fund.

The Adviser and Subadviser have adopted certain compliance procedures which are designed to address these types of conflicts. However, there is no guarantee that such procedures will detect each and every situation in which a conflict arises.

The underlying funds in which the Fund invests will not include those that are advised or subadvised by the Adviser, the Subadviser or their affiliates.

(a)(4) Portfolio Manager Ownership of Fund Shares

The following table shows the dollar range of equity securities of the Fund beneficially owned by the portfolio managers of the Fund as of June 30, 2026.

Name of Portfolio Manager Dollar Range of Equity Securities of the Fund
Patrick W. Galley Over $100,000
Stephen A. O'Neill $10,001 - $50,000
Jeffrey E. Gundlach $0
Jeffrey J. Sherman $0

(b) Not applicable.

Item 14. Purchases of Equity Securities by Closed-End Management Investment Company and Affiliated Purchasers.

Not applicable, due to no such purchases occurring during the period covered by this report.

Item 15. Submission of Matters to a Vote of Security Holders.

There have been no material changes to the procedures by which shareholders may recommend nominees to the Board of Directors of the Registrant.

Item 16. Controls and Procedures.
(a) The Registrant's Principal Executive Officer and Principal Financial Officer have concluded that the Registrant's disclosure controls and procedures (as defined in Rule 30a-3(c) under the Investment Company Act of 1940, as amended (the "1940 Act")) are effective based on their evaluation of these controls and procedures, required by Rule 30a-3(b) under the 1940 Act and Rules 13a-15(b) under the 1934 Act, as of a date within 90 days of the filing date of this report.
(b) There were no significant changes in the Registrant's internal control over financial reporting (as defined in Rule 30a-3(d) under the 1940 Act) during the period covered by this report that has materially affected, or is reasonably likely to materially affect, the Registrant's internal control over financial reporting.
Item 17. Disclosure of Securities Lending Activities for Closed-End Management Investment Companies.
(a) Not applicable.
(b) Not applicable.
Item 18. Recovery of Erroneously Awarded Compensation.
(a) Not applicable.
(b) Not applicable.
Item 19. Exhibits.
(a)(1) Code of ethics that is subject to Item 2 is attached hereto.
(a)(2) Not applicable.
(a)(3) The certifications of the Registrant's Principal Executive Officer and Principal Financial Officer, as required by Rule 30a-2(a) of the 1940 Act, and Section 302 of the Sarbanes-Oxley Act of 2002 are attached hereto as EX-99.CERT
(a)(4) Not applicable.
(a)(5) Not applicable.
(b) The certifications of the Registrant's Principal Executive Officer and Principal Financial Officer, as required by Rule 30a-2(b) of the 1940 Act, and Section 906 of the Sarbanes-Oxley Act of 2002 are attached hereto as EX-99.906CERT.
(c) The Proxy Voting Policies and Procedures are attached hereto.
(d) The Schedule of Investments is attached hereto.
(e) Opinion of KPMG is attached hereto.
(f) Consent of KPMG is attached hereto.
(g) Consent of Cohen is attached hereto.

SIGNATURES

Pursuant to the requirements of the Securities Exchange Act of 1934 and the Investment Company Act of 1940, the registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized.

Registrant: RiverNorth/DoubleLine Strategic Opportunity Fund, Inc.

By: /s/ Patrick W. Galley
Name: Patrick W. Galley
Title: President and Chief Executive Officer
Date: September 4, 2026

Pursuant to the requirements of the Securities Exchange Act of 1934 and the Investment Company Act of 1940, this report has been signed below by the following persons on behalf of the registrant and in the capacities and on the dates indicated.

By: /s/ Patrick W. Galley
Name: Patrick W. Galley
Title: President and Chief Executive Officer
Date: September 4, 2026
By: /s/ Jonathan M. Mohrhardt
Name: Jonathan M. Mohrhardt
Title: Treasurer and Chief Financial Officer
Date: September 4, 2026
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