Voya Emerging Markets High Dividend Equity Fund and Voya Asia Pacific High Dividend Equity Income Fund to Pursue Merger into Voya Multi-Manager Emerging Markets Equity Fund, Subject to Shareholder Approval

Saba Capital Management, L.P. (together with certain of its affiliates, “Saba”) today announced that it has entered into an agreement with Voya Investments, LLC concerning the Voya Emerging Markets High Dividend Equity Fund (TICKER: IHD) and the Voya Asia Pacific High Dividend Equity Income Fund (TICKER: IAE) (the “Funds”).

Subject to shareholder approval, the Funds will both merge into the Voya Multi-Manager Emerging Markets Equity Fund (TICKER: IEMLX), an open-end management investment company registered under the Investment Company Act of 1940. Each Fund will hold a special meeting of shareholders to consider approval of the merger transaction.

The terms of the agreement also provide for Saba withdrawing its previously submitted nominations in connection with the Funds’ 2026 annual meetings of shareholders, in addition to complying with certain standstill covenants until the completion of the Voya closed-end Funds’ 2028 annual meetings of shareholders or July 13, 2028.

About Saba Capital

Saba Capital Management, L.P. is a global alternative asset management firm that seeks to deliver superior risk-adjusted returns for a diverse group of clients. Founded in 2009 by Boaz Weinstein, Saba is a pioneer of credit relative value strategies and capital structure arbitrage. Saba has offices in New York City and London. Learn more at www.sabacapital.com.

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