Ivy Funds - Delaware Ivy High Income Opportunities Fund (IVH)

PHILADELPHIA--(BUSINESS WIRE)--Today, Delaware Ivy High Income Opportunities Fund (the “Fund”), a New York Stock Exchange-listed closed-end fund trading under the symbol “IVH,” announced that the acquisition of substantially all of the assets of the Fund by abrdn Income Credit Strategies Fund (the “Acquiring Fund”), a New York Stock Exchange-listed closed-end fund trading under the symbol “ACP,” was completed on March 10, 2023 at approximately 5:00 pm ET (the “Reorganization”). Fund shareholders approved an Agreement and Plan of Acquisition that provided for the Reorganization at a Special Meeting of Shareholders held on November 9, 2022. Relevant details as of the closing of the Reorganization are as follows: FUND NAV/SHARE ($) CONVERSION RATIO abrdn Income Credit Strategies Fund 7.1889 N/A Delaware Ivy High Income Opportunities Fund 11.6110 1.615135 Any applicable fractional shares will be paid as cash-in-lieu to the applicable holder. The Reorganization was structured as a tax-free transaction. In early 2024, shareholders of the Fund will receive a Form 1099-DIV for the calendar year 2023 that will tell shareholders how to report Fund distributions for federal income tax purposes. The Fund will be de-listed from the New York Stock Exchange and dissolved. Questions regarding the exchange of shares of the Fund in connection with the Reorganization should be directed to 800 522-5465. Other than Macquarie Bank Limited ABN 46 008 583 542 (“Macquarie Bank”), any Macquarie Group entity noted in this press release is not an authorised deposit-taking institution for the purposes of the Banking Act 1959 (Commonwealth of Australia). The obligations of these other Macquarie Group entities do not represent deposits or other liabilities of Macquarie Bank. Macquarie Bank does not guarantee or otherwise provide assurance in respect of the obligations of these other Macquarie Group entities. In addition, if this press release relates to an investment, (a) the investor is subject to investment risk including possible delays in repayment and loss of income and principal invested and (b) none of Macquarie Bank or any other Macquarie Group entity guarantees any particular rate of return on or the performance of the investment, nor do they guarantee repayment of capital in respect of the investment. © 2023 Macquarie Management Holdings, Inc.

0 out of 22 closed-end fund sectors positive on price and 3 out of 22 sectors positive on NAV last week. KIO rights offering results.

ACP is overvalued heading into its merger with IVH. Potentially make 10% in two weeks by selling ACP and buying IVH.

PHILADELPHIA--(BUSINESS WIRE)--Today, Delaware Ivy High Income Opportunities Fund (the “Fund”), a New York Stock Exchange-listed closed-end fund trading under the symbol “IVH”, announced that the Fund will make a final distribution of $0.149 per share in connection with the reorganization of the Fund into abrdn Income Credit Strategies Fund (the “Acquiring Fund”), a New York Stock Exchange-listed closed-end fund trading under the symbol “ACP” (the “Reorganization”).

PHILADELPHIA--(BUSINESS WIRE)--Today, Delaware Ivy High Income Opportunities Fund (the “Fund”), a New York Stock Exchange-listed closed-end fund trading under the symbol “IVH”, announced that the Fund will make a final distribution of $0.149 per share in connection with the reorganization of the Fund into abrdn Income Credit Strategies Fund (the “Acquiring Fund”), a New York Stock Exchange-listed closed-end fund trading under the symbol “ACP” (the “Reorganization”). The final distribution will be payable March 3, 2023 to common shareholders of record on February 24, 2023 and will be paid out in cash (no dividends will be reinvested). The final Fund distribution will consist of substantially all of the Fund’s undistributed tax-exempt interest income, ordinary income and capital gain net income, if any, earned and anticipated to be earned through the close of business on March 10, 2023. In early 2024, common shareholders of the Fund will receive a Form 1099-DIV for the calendar year 2023 that will tell shareholders how to report these distributions for federal income tax purposes. The final distribution is being made in connection with an Agreement and Plan of Acquisition (the “Plan of Acquisition”) providing for (i) the acquisition by the Acquiring Fund of substantially all of the assets of the Fund, in exchange for newly issued common shares of the Acquiring Fund; (ii) the distribution of such newly issued common shares of the Acquiring Fund to holders of common shares of the Fund; and (iii) the dissolution of the Fund thereafter. The Plan of Acquisition was approved by shareholders at the Special Meeting of Shareholders held on November 9, 2022, and the transaction is currently anticipated to close on or about March 10, 2023 at approximately 5:00 pm ET. Following completion of the acquisition, the Fund will be delisted. In connection with the Agreement and Plan of Reorganization, the Fund has filed relevant materials with the U.S. Securities and Exchange Commission, including a Form N-14 registration statement for the Acquiring Fund that contained a prospectus. The foregoing is not an offer to sell, nor a solicitation of an offer to buy, shares of any fund. All shareholders are advised to read the proxy statement/prospectus in its entirety because it contains important information regarding the Fund, the Acquiring Fund, the Agreement and Plan of Reorganization, the Board’s considerations in recommending the Agreement and Plan of Reorganization, and related matters. Shareholders may obtain a free copy of the proxy statement/prospectus and other documents filed with the SEC, including the Fund’s most recent annual reports to shareholders, on the SEC’s website at http://www.sec.gov, and copies of this information may be obtained, after paying a duplicating fee, by electronic request at the following e-mail address: publicinfo@sec.gov. Copies of all of these documents may be obtained upon request without charge by visiting the Fund’s website at delawarefunds.com/closed-end, or by writing to the Fund at 610 Market Street, Philadelphia, PA 19106-2354, or calling 866 437-0252. About the Fund Delaware Ivy High Income Opportunities Fund, a non-diversified closed-end fund, is listed on the New York Stock Exchange. The Fund’s investment adviser is Delaware Management Company (“Investment Adviser”), a series of Macquarie Investment Management Business Trust, which is a subsidiary of Macquarie Management Holdings, Inc. (“MMHI”). MMHI is a subsidiary, and subject to the ultimate control, of Macquarie Group Limited. Macquarie Asset Management is a global asset manager that aims to deliver positive impact for everyone. Trusted by institutions, pension funds, governments, and individuals to manage more than $US508 billion in assets globally,1 we provide access to specialist investment expertise across a range of capabilities including infrastructure, green investments and renewables, real estate, agriculture & natural assets, asset finance, private credit, equities, fixed income and multi asset solutions. The Fund’s investment objective is to seek to provide total return through a combination of a high level of current income and capital appreciation. The Fund seeks to achieve its investment objective by investing primarily in a portfolio of high yield corporate bonds of varying maturities and other fixed income instruments of predominantly corporate issuers, including first- and second-lien secured loans ("Secured Loans"). In addition, the Fund utilizes leveraging techniques in an attempt to obtain a higher return for the Fund. There can be no assurance that the Fund will achieve its investment objective. Under normal circumstances, the Fund will invest at least 80% of its Managed Assets (as defined below) in a portfolio of U.S. and foreign bonds, loans and other fixed income instruments, as well as other investments (including derivatives) with similar economic characteristics. The Fund will invest primarily in instruments that are, at the time of purchase, rated below investment grade (below Baa3 by Moody’s Investors Service, Inc. ("Moody’s") or below BBB- by either Standard & Poor’s Rating Services ("S&P") or Fitch, Inc. ("Fitch"), or comparably rated by another nationally recognized statistical rating organization ("NRSRO")), or unrated but judged by the Adviser, to be of comparable quality. "Managed Assets" means the Fund’s total assets, including the assets attributable to the proceeds from any borrowings or other forms of structural leverage minus liabilities other than the aggregate indebtedness entered into for purposes of leverage. The Fund may invest 100% of its Managed Assets in fixed income instruments and securities issued by foreign issuers, and up to 25% of its Managed Assets in fixed income instruments and securities of issuers in emerging markets. Such foreign instruments may be U.S. currency denominated or foreign currency denominated. Under normal market conditions the Fund’s investments will consist predominantly of high yield bonds and/or Secured Loans; however, the Fund’s investments in fixed income instruments also may include, to a lesser extent, debentures, notes, commercial paper, investment grade bonds, loans other than secured loans, including unsecured loans and mezzanine loans, and other similar types of debt instruments, as well as derivatives related to or referencing these types of securities and instruments. The Fund will not invest in collateralized loan obligations or collateralized debt obligations. The Fund will seek to dynamically adjust and hedge its duration depending on the market opportunities available. Under normal circumstances, the dollar-weighted average portfolio duration of the Fund will generally range between zero and seven years. The price of the Fund’s shares will fluctuate with market conditions and other factors. Closed-end funds frequently trade at a discount from their net asset values (NAVs), which may increase an investor’s risk of loss. At the time of sale, shares may have a market price that is below NAV and may be worth less than the original investment upon their sale. The Fund’s investments in below investment grade securities (commonly referred to as "high yield securities" or "junk bonds") may carry a greater risk of nonpayment of interest or principal than higher rated bonds. Loans (including loan assignments, loan participations and other loan instruments) carry other risks, including the risk of insolvency of the lending bank or other intermediary. Loans may be unsecured or not fully collateralized, may be subject to restrictions on resale and sometimes trade infrequently on the secondary market. 1 As of September 30, 2022 Other than Macquarie Bank Limited ABN 46 008 583 542 (“Macquarie Bank”), any Macquarie Group entity noted in this press release is not an authorised deposit-taking institution for the purposes of the Banking Act 1959 (Commonwealth of Australia). The obligations of these other Macquarie Group entities do not represent deposits or other liabilities of Macquarie Bank. Macquarie Bank does not guarantee or otherwise provide assurance in respect of the obligations of these other Macquarie Group entities. In addition, if this press release relates to an investment, (a) the investor is subject to investment risk including possible delays in repayment and loss of income and principal invested and (b) none of Macquarie Bank or any other Macquarie Group entity guarantees any particular rate of return on or the performance of the investment, nor do they guarantee repayment of capital in respect of the investment. © 2023 Macquarie Management Holdings, Inc.

1 out of 22 CEF sectors positive on price and 0 out of 22 sectors positive on NAV last week. Senior loans lead while real estate lags.

17 out of 22 CEF sectors positive on price and 18 out of 22 sectors positive on NAV last week. RSF offering results.

PHILADELPHIA--(BUSINESS WIRE)--Today, Delaware Ivy High Income Opportunities Fund (the “Acquired Fund”), a New York Stock Exchange-listed closed-end fund trading under the symbol “IVH”, announced that the Acquired Fund will make final distributions in connection with the reorganization of the Acquired Fund into abrdn Income Credit Strategies Fund (the “Acquiring Fund”), a New York Stock Exchange-listed closed-end fund trading under the symbol “ACP” (the “Reorganization”). The final distribution will be payable March 3, 2023 to common shareholders of record on February 24, 2023. The final Acquired Fund distributions will consist of substantially all of the Acquired Fund’s undistributed tax-exempt interest income, ordinary income and capital gain net income, if any, earned and anticipated to be earned through the close of business on March 10, 2023. In early 2024, common shareholders of the Acquired Fund will receive a Form 1099-DIV for the calendar year 2023 that will tell shareholders how to report these distributions for federal income tax purposes. The final distribution is as follows: FUND ESTIMATED DIVIDEND PER SHARE Delaware Ivy High Income Opportunities Fund $0.0634 The final distribution is being made in connection with an Agreement and Plan of Acquisition (the “Plan of Acquisition”) providing for (i) the acquisition by the Acquiring Fund of substantially all of the assets of the Acquired Fund, in exchange for newly issued common shares of the Acquiring Fund; (ii) the distribution of such newly issued common shares of the Acquiring Fund to holders of common shares of the Acquired Fund; and (iii) the dissolution of the Acquired Fund thereafter. The Plan of Acquisition was approved by shareholders at the Special Meeting of Shareholders held on November 9, 2022, and the transaction is currently anticipated to close on or about March 10, 2023 at approximately 5:00 pm ET. Following completion of the acquisition, the Acquired Fund will be delisted. About the Acquired Fund Delaware Ivy High Income Opportunities Fund, a non-diversified closed-end fund, is listed on the New York Stock Exchange. The Fund’s investment adviser is Delaware Management Company (“Investment Adviser”), a series of Macquarie Investment Management Business Trust, which is a subsidiary of Macquarie Management Holdings, Inc. (“MMHI”). MMHI is a subsidiary, and subject to the ultimate control, of Macquarie Group Limited. Macquarie Asset Management is a global asset manager that aims to deliver positive impact for everyone. Trusted by institutions, pension funds, governments, and individuals to manage more than $US508 billion in assets globally,1 we provide access to specialist investment expertise across a range of capabilities including infrastructure, green investments & renewables, real estate, agriculture & natural assets, asset finance, private credit, equities, fixed income and multi asset solutions. The Fund’s investment objective is to seek to provide total return through a combination of a high level of current income and capital appreciation. The Fund seeks to achieve its investment objective by investing primarily in a portfolio of high yield corporate bonds of varying maturities and other fixed income instruments of predominantly corporate issuers, including first- and second-lien secured loans ("Secured Loans"). In addition, the Fund utilizes leveraging techniques in an attempt to obtain a higher return for the Fund. There can be no assurance that the Fund will achieve its investment objective. Under normal circumstances, the Fund will invest at least 80% of its Managed Assets (as defined below) in a portfolio of U.S. and foreign bonds, loans and other fixed income instruments, as well as other investments (including derivatives) with similar economic characteristics. The Fund will invest primarily in instruments that are, at the time of purchase, rated below investment grade (below Baa3 by Moody’s Investors Service, Inc. ("Moody’s") or below BBB- by either Standard & Poor’s Rating Services ("S&P") or Fitch, Inc. ("Fitch"), or comparably rated by another nationally recognized statistical rating organization ("NRSRO")), or unrated but judged by the Adviser, to be of comparable quality. "Managed Assets" means the Fund’s total assets, including the assets attributable to the proceeds from any borrowings or other forms of structural leverage minus liabilities other than the aggregate indebtedness entered into for purposes of leverage. The Fund may invest 100% of its Managed Assets in fixed income instruments and securities issued by foreign issuers, and up to 25% of its Managed Assets in fixed income instruments and securities of issuers in emerging markets. Such foreign instruments may be U.S. currency denominated or foreign currency denominated. Under normal market conditions the Fund’s investments will consist predominantly of high yield bonds and/or Secured Loans; however, the Fund’s investments in fixed income instruments also may include, to a lesser extent, debentures, notes, commercial paper, investment grade bonds, loans other than secured loans, including unsecured loans and mezzanine loans, and other similar types of debt instruments, as well as derivatives related to or referencing these types of securities and instruments. The Fund will not invest in collateralized loan obligations or collateralized debt obligations. The Fund will seek to dynamically adjust and hedge its duration depending on the market opportunities available. Under normal circumstances, the dollar-weighted average portfolio duration of the Fund will generally range between zero and seven years. The price of the Fund’s shares will fluctuate with market conditions and other factors. Closed-end funds frequently trade at a discount from their net asset values (NAVs), which may increase an investor’s risk of loss. At the time of sale, shares may have a market price that is below NAV and may be worth less than the original investment upon their sale. The Fund’s investments in below investment grade securities (commonly referred to as "high yield securities" or "junk bonds") may carry a greater risk of nonpayment of interest or principal than higher rated bonds. Loans (including loan assignments, loan participations and other loan instruments) carry other risks, including the risk of insolvency of the lending bank or other intermediary. Loans may be unsecured or not fully collateralized, may be subject to restrictions on resale and sometimes trade infrequently on the secondary market. 1 As of September 30, 2022 Other than Macquarie Bank Limited ABN 46 008 583 542 (“Macquarie Bank”), any Macquarie Group entity noted in this press release is not an authorised deposit-taking institution for the purposes of the Banking Act 1959 (Commonwealth of Australia). The obligations of these other Macquarie Group entities do not represent deposits or other liabilities of Macquarie Bank. Macquarie Bank does not guarantee or otherwise provide assurance in respect of the obligations of these other Macquarie Group entities. In addition, if this press release relates to an investment, (a) the investor is subject to investment risk including possible delays in repayment and loss of income and principal invested and (b) none of Macquarie Bank or any other Macquarie Group entity guarantees any particular rate of return on or the performance of the investment, nor do they guarantee repayment of capital in respect of the investment. © 2023 Macquarie Management Holdings, Inc.

PHILADELPHIA--( BUSINESS WIRE )--Today, Delaware Ivy High Income Opportunities Fund (the “Acquired Fund”), a New York Stock Exchange-listed closed-end fund trading under the symbol “IVH”, announced that the Acquired Fund will make final distributions in connection with the reorganization of the Acquired Fund into abrdn Income Credit Strategies Fund (the “Acquiring Fund”), a New York Stock Exchange-listed closed-end fund trading under the symbol “ACP” (the “Reorganization”). The final distribution will be payable March 3, 2023 to common shareholders of record on February 24, 2023. The final Acquired Fund distributions will consist of substantially all of the Acquired Fund's undistributed tax-exempt interest income, ordinary income and capital gain net income, if any, earned and anticipated to be earned through the close of business on March 10, 2023. In early 2024, common shareholders of the Acquired Fund will receive a Form 1099-DIV for the calendar year 2023 that will tell shareholders how to report these distributions for federal income tax purposes.

21 out of 22 CEF sectors were positive on price and 20 out of 22 sectors were positive on NAV last week. MLPs are the most discounted CEF sector.

3 out of 23 CEF sectors positive on price and 6 out of 23 sectors positive on NAV last week. PIMCO muni CEFs cut.

PHILADELPHIA--( BUSINESS WIRE )--Today, Delaware Ivy High Income Opportunities Fund (the “Fund”), a New York Stock Exchange– listed closed-end fund trading under the symbol “IVH,” declared a monthly distribution of $0.0932 per common share. The monthly distribution is payable January 27, 2023 to shareholders of record at the close of business on January 20, 2023. The ex-dividend date will be January 19, 2023.

PHILADELPHIA--(BUSINESS WIRE)--Today, Delaware Ivy High Income Opportunities Fund (the “Fund”), a New York Stock Exchange– listed closed-end fund trading under the symbol “IVH,” declared a monthly distribution of $0.0932 per common share. The monthly distribution is payable January 27, 2023 to shareholders of record at the close of business on January 20, 2023. The ex-dividend date will be January 19, 2023. The distribution is expected to be paid from net investment income (regular interest and dividends). The final tax status of the distribution may differ substantially from this preliminary information, which is based on estimates, and the final determination of such amount will be made in early 2024 when the Fund can determine its earnings and profits for the 2023 fiscal year. The Fund’s investment objective is to seek to provide total return through a combination of a high level of current income and capital appreciation. The Fund seeks to achieve its investment objective by investing primarily in a portfolio of high yield corporate bonds of varying maturities and other fixed income instruments of predominantly corporate issuers, including first- and second-lien secured loans (“Secured Loans”). In addition, the Fund utilizes leveraging techniques in an attempt to obtain a higher return for the Fund. There can be no assurance that the Fund will achieve its investment objective. Under normal circumstances, the Fund will invest at least 80% of its Managed Assets (as defined below) in a portfolio of U.S. and foreign bonds, loans and other fixed income instruments, as well as other investments (including derivatives) with similar economic characteristics. The Fund will invest primarily in instruments that are, at the time of purchase, rated below investment grade (below Baa3 by Moody’s Investors Service, Inc. (“Moody’s”) or below BBB- by either Standard & Poor’s Rating Services (“S&P”) or Fitch, Inc. (“Fitch”), or comparably rated by another nationally recognized statistical rating organization (“NRSRO”)), or unrated but judged by the Adviser to be of comparable quality. “Managed Assets” means the Fund’s total assets, including the assets attributable to the proceeds from any borrowings or other forms of structural leverage minus liabilities other than the aggregate indebtedness entered into for purposes of leverage. The Fund may invest 100% of its Managed Assets in fixed income instruments and securities issued by foreign issuers, and up to 25% of its Managed Assets in fixed income instruments and securities of issuers in emerging markets. Such foreign instruments may be U.S. currency denominated or foreign currency denominated. Under normal market conditions the Fund’s investments will consist predominantly of high yield bonds and/or Secured Loans; however, the Fund’s investments in fixed income instruments also may include, to a lesser extent, debentures, notes, commercial paper, investment grade bonds, loans other than secured loans, including unsecured loans and mezzanine loans, and other similar types of debt instruments, as well as derivatives related to or referencing these types of securities and instruments. The Fund will not invest in collateralized loan obligations or collateralized debt obligations. The Fund will seek to dynamically adjust and hedge its duration depending on the market opportunities available. Under normal circumstances, the dollar-weighted average portfolio duration of the Fund will generally range between zero and seven years. The Fund is a non-diversified, closed-end management investment company. The price of the Fund’s shares will fluctuate with market conditions and other factors. Closed-end funds frequently trade at a discount from their net asset values (NAVs), which may increase an investor’s risk of loss. At the time of sale, shares may have a market price that is below NAV and may be worth less than the original investment upon their sale. The Fund’s investments in below investment grade securities (commonly referred to as “high yield securities” or “junk bonds”) may carry a greater risk of nonpayment of interest or principal than higher rated bonds. Loans (including loan assignments, loan participations and other loan instruments) carry other risks, including the risk of insolvency of the lending bank or other intermediary. Loans may be unsecured or not fully collateralized, may be subject to restrictions on resale and sometimes trade infrequently on the secondary market. About Macquarie Asset Management Macquarie Asset Management is a global asset manager that aims to deliver positive impact for everyone. Trusted by institutions, pension funds, governments, and individuals to manage more than $US508 billion in assets globally,1 we provide access to specialist investment expertise across a range of capabilities including infrastructure, green investments and renewables, real estate, agriculture and natural assets, asset finance, private credit, equities, fixed income and multi asset solutions. Advisory services are provided by Delaware Management Company, a series of Macquarie Investment Management Business Trust, a registered investment advisor. Macquarie Asset Management is part of Macquarie Group, a diversified financial group providing clients with asset management, finance, banking, advisory and risk and capital solutions across debt, equity, and commodities. Founded in 1969, Macquarie Group employs more than 19,000 people in 33 markets and is listed on the Australian Securities Exchange. For more information about Delaware Funds by Macquarie®, visit delawarefunds.com or call 800 523-1918. Other than Macquarie Bank Limited ABN 46 008 583 542 (“Macquarie Bank”), any Macquarie Group entity noted in this press release is not an authorised deposit-taking institution for the purposes of the Banking Act 1959 (Commonwealth of Australia). The obligations of these other Macquarie Group entities do not represent deposits or other liabilities of Macquarie Bank. Macquarie Bank does not guarantee or otherwise provide assurance in respect of the obligations of these other Macquarie Group entities. In addition, if this press release relates to an investment, (a) the investor is subject to investment risk including possible delays in repayment and loss of income and principal invested and (b) none of Macquarie Bank or any other Macquarie Group entity guarantees any particular rate of return on or the performance of the investment, nor do they guarantee repayment of capital in respect of the investment. 1 As of September 30, 2022 © 2023 Macquarie Management Holdings, Inc.

2 out of 23 CEF sectors were positive on price and 2 out of 23 sectors were positive on NAV last week. VFL offers tender results.

PHILADELPHIA--(BUSINESS WIRE)--Today, the Board of Directors/Trustees of Delaware Investments Dividend and Income Fund (NYSE: “DDF”), Delaware Enhanced Global Dividend and Income Fund (NYSE: “DEX”), and Delaware Ivy High Income Opportunities Fund (NYSE: “IVH”) announced that the anticipated closing date of the reorganization of DDF and DEX into abrdn Global Dynamic Dividend Fund (NYSE: “AGD”) and the reorganization of IVH into abrdn Income Credit Strategies Fund (NYSE: “ACP”) (together, the “Reorganizations”), will each be completed by the open of business on the New York Stock Exchange on Monday, March 13, 2023, subject to the satisfaction of customary closing conditions. To facilitate the Reorganizations, all shares of DDF, DEX, and IVH will cease trading on the New York Stock Exchange as of market close on Friday, March 10, 2023. The Reorganizations, if completed, would each occur based on the relative net asset values of the common shares of DDF, DEX, and IVH (together, the “Funds”). Further details on any applicable special distribution will be made available in a future press release. About the Funds Delaware Investments Dividend and Income Fund The Fund is a diversified closed-end fund. The primary investment objective is to seek high current income; capital appreciation is a secondary objective. The Fund seeks to achieve its objectives by investing, under normal circumstances, at least 65% of its total assets in income-generating equity securities, including dividend-paying common stocks, convertible securities, preferred stocks, and other equity-related securities, which may include up to 25% in real estate investment trusts (REITs) and real estate industry operating companies. Up to 35% of the Fund's total assets may be invested in nonconvertible debt securities consisting primarily of high-yield, high-risk corporate bonds. In addition, the Fund utilizes leveraging techniques in an attempt to obtain a higher return for the Fund. There is no assurance that the Fund will achieve its investment objectives. Delaware Enhanced Global Dividend and Income Fund The Fund is a diversified closed-end fund. The Fund's primary investment objective is to seek current income, with a secondary objective of capital appreciation. Under normal market conditions, the Fund invests globally at least 80% of its assets in a combination of dividend-paying or income-generating securities across multiple asset classes, including but not limited to: equity securities of large, well-established companies; securities issued by real estate companies (including real estate investment trusts and real estate industry operating companies); debt securities (such as government bonds; investment grade and high risk, high yield corporate bonds; and convertible bonds); and emerging market securities. The Fund also uses enhanced income strategies by engaging in dividend capture trading; option overwriting; and realization of gains on the sale of securities, dividend growth, and currency forwards. There is no assurance that the Fund will achieve its investment objectives. Under normal market conditions, the Fund will invest: (1) at most 60% of its net assets in securities of US issuers; (2) at least 40% of its net assets in securities of non-US issuers, unless market conditions are not deemed favorable by the Manager, in which case, the Fund would invest at least 30% of its net assets in securities of non-US issuers; and (3) up to 25% of its net assets in securities issued by real estate companies (including real estate investment trusts and real estate industry operating companies). In addition, the Fund utilizes leveraging techniques in an attempt to obtain higher return for the Fund. Delaware Ivy High Income Opportunities Fund The Fund is a non-diversified, closed-end management investment company. The Fund’s investment objective is to seek to provide total return through a combination of a high level of current income and capital appreciation. The Fund seeks to achieve its investment objective by investing primarily in a portfolio of high yield corporate bonds of varying maturities and other fixed income instruments of predominantly corporate issuers, including first- and second-lien secured loans (“Secured Loans”). In addition, the Fund utilizes leveraging techniques in an attempt to obtain a higher return for the Fund. There can be no assurance that the Fund will achieve its investment objective. Under normal circumstances, the Fund will invest at least 80% of its Managed Assets (as defined below) in a portfolio of U.S. and foreign bonds, loans and other fixed income instruments, as well as other investments (including derivatives) with similar economic characteristics. The Fund will invest primarily in instruments that are, at the time of purchase, rated below investment grade (below Baa3 by Moody’s Investors Service, Inc. (“Moody’s”) or below BBB- by either Standard & Poor’s Rating Services (“S&P”) or Fitch, Inc. (“Fitch”), or comparably rated by another nationally recognized statistical rating organization (“NRSRO”)), or unrated but judged by the Adviser, to be of comparable quality. “Managed Assets” means the Fund’s total assets, including the assets attributable to the proceeds from any borrowings or other forms of structural leverage minus liabilities other than the aggregate indebtedness entered into for purposes of leverage. The Fund may invest 100% of its Managed Assets in fixed income instruments and securities issued by foreign issuers, and up to 25% of its Managed Assets in fixed income instruments and securities of issuers in emerging markets. Such foreign instruments may be U.S. currency denominated or foreign currency denominated. Under normal market conditions the Fund’s investments will consist predominantly of high yield bonds and/or Secured Loans; however, the Fund’s investments in fixed income instruments also may include, to a lesser extent, debentures, notes, commercial paper, investment grade bonds, loans other than secured loans, including unsecured loans and mezzanine loans, and other similar types of debt instruments, as well as derivatives related to or referencing these types of securities and instruments. The Fund will not invest in collateralized loan obligations or collateralized debt obligations. The Fund will seek to dynamically adjust and hedge its duration depending on the market opportunities available. Under normal circumstances, the dollar-weighted average portfolio duration of the Fund will generally range between zero and seven years. The price of the Fund’s shares will fluctuate with market conditions and other factors. Closed-end funds frequently trade at a discount from their net asset values (NAVs), which may increase an investor’s risk of loss. At the time of sale, shares may have a market price that is below NAV and may be worth less than the original investment upon their sale. The Fund’s investments in below investment grade securities (commonly referred to as “high yield securities” or “junk bonds”) may carry a greater risk of nonpayment of interest or principal than higher rated bonds. Loans (including loan assignments, loan participations and other loan instruments) carry other risks, including the risk of insolvency of the lending bank or other intermediary. Loans may be unsecured or not fully collateralized, may be subject to restrictions on resale and sometimes trade infrequently on the secondary market. About Macquarie Asset Management Macquarie Asset Management is a global asset manager that aims to deliver positive impact for everyone. Trusted by institutions, pension funds, governments, and individuals to manage more than $US508 billion in assets globally,1 we provide access to specialist investment expertise across a range of capabilities including infrastructure, green investments and renewables, real estate, agriculture and natural assets, asset finance, private credit, equities, fixed income and multi asset solutions. Advisory services are provided by Delaware Management Company, a series of Macquarie Investment Management Business Trust, a registered investment adviser. Macquarie Asset Management is part of Macquarie Group, a diversified financial group providing clients with asset management, finance, banking, advisory and risk and capital solutions across debt, equity, and commodities. Founded in 1969, Macquarie Group employs more than 19,000 people in 33 markets and is listed on the Australian Securities Exchange. For more information about Delaware Funds by Macquarie®, visit delawarefunds.com or call 800 523-1918. Other than Macquarie Bank Limited ABN 46 008 583 542 (“Macquarie Bank”), any Macquarie Group entity noted in this press release is not an authorised deposit-taking institution for the purposes of the Banking Act 1959 (Commonwealth of Australia). The obligations of these other Macquarie Group entities do not represent deposits or other liabilities of Macquarie Bank. Macquarie Bank does not guarantee or otherwise provide assurance in respect of the obligations of these other Macquarie Group entities. In addition, if this press release relates to an investment, (a) the investor is subject to investment risk including possible delays in repayment and loss of income and principal invested and (b) none of Macquarie Bank or any other Macquarie Group entity guarantees any particular rate of return on or the performance of the investment, nor do they guarantee repayment of capital in respect of the investment. 1 As of September 30, 2022 © 2022 Macquarie Management Holdings, Inc.

2 out of 23 CEF sectors positive on price and 4 out of 23 sectors positive on NAV last week. DEX will merge with AGD.