Certain Virtus Closed-End Funds Name Ethan Turner as Portfolio Manager

HARTFORD, Conn., Jan. 27, 2023

Turner, who is a vice president on the income and growth strategies team at Voya IM, joins as a member of the portfolio management team of each of Virtus Artificial Intelligence & Technology Opportunities Fund (NYSE: AIO), Virtus Convertible & Income 2024 Target Term Fund (NYSE: CBH), Virtus Convertible & Income Fund (NYSE: NCV), Virtus Convertible & Income Fund II (NYSE: NCZ), Virtus Diversified Income & Convertible Fund (NYSE: ACV), Virtus Dividend, Interest & Premium Strategy Fund (NYSE: NFJ), and Virtus Equity & Convertible Income Fund (NYSE: NIE).

He joined Voya IM in 2022 following the firm's acquisition of a substantial majority of Allianz Global Investors' (AllianzGI) U.S. business. At AllianzGI, Turner was an analyst and vice president with research responsibilities for the income and growth strategies team. He began his career in the investment industry in 2005.

Turner earned a B.S. from San Diego State University and an M.B.A. from the Anderson School of Management at the University of California, Los Angeles. He is a CFA^® Charterholder.

About the Funds
Virtus Artificial Intelligence & Technology Opportunities Fund (AIO) is a diversified closed-end fund that seeks to provide total return through a combination of current income, current gains, and long-term capital appreciation. Virtus Convertible & Income 2024 Target Term Fund's (CBH) investment objectives are to provide a high level of income and to return at least $9.835 per common share (the original net asset value per common share of beneficial interest before deducting offering costs of $0.02 per share) to holders of common shares on or about September 1, 2024. Virtus Convertible & Income Fund (NCV) and Virtus Convertible & Income Fund II (NCZ) each have an investment objective to provide total return through a combination of capital appreciation and high current income. Virtus Diversified Income & Convertible Fund (ACV) is a diversified closed-end fund that seeks to provide total return through a combination of current income and capital appreciation, while seeking to provide downside protection against capital loss. Virtus Dividend, Interest & Premium Strategy Fund (NFJ) is a diversified closed-end fund that seeks current income and gains, with long-term capital appreciation as a secondary objective. Virtus Equity & Convertible Income Fund (NIE) is a diversified closed-end fund that seeks total return comprising capital appreciation, current income, and gains. Virtus Investment Advisers, Inc. is the investment adviser and Voya Investment Management is the subadviser to each fund. 

Fund Risks
An investment in a fund is subject to risk, including the risk of possible loss of principal. A fund's shares may be worth less upon their sale than what an investor paid for them. Shares of closed-end funds may trade at a premium or discount to their net asset value. For more information about each fund's investment objective and risks, please see the fund's annual report. A copy of each fund's most recent annual report may be obtained free of charge by contacting Shareholder Services at (866) 270-7788, by email at closedendfunds@virtus.com, or through the Closed-End Funds section of virtus.com.