The Boards of Trustees of Saba Capital Income & Opportunities Fund (NYSE: BRW) and Saba Capital Income & Opportunities Fund II (NYSE: SABA) have approved, in principle, a proposal to merge the funds. The proposed merger, if approved by shareholders, would combine SABA into BRW. The merger is intended to create a larger fund with greater investment scale and potentially increased trading volume on the exchange for common shares.
The proposed merger is subject to customary closing conditions, including necessary shareholder approval. Detailed information on the proposed merger will be contained in proxy materials expected to be filed in the first quarter of 2026.

