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Saba Cap Incm & Opp Fd II

The Boards of Trustees of Saba Capital Income & Opportunities Fund (NYSE: BRW) and Saba Capital Income & Opportunities Fund II (NYSE: SABA) have reapproved 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 funds are currently targeting closing the proposed merger in the fourth quarter of 2026.

The terms of the proposed merger are substantially identical to the merger that had been previously approved, but which was paused. The merger is subject to customary closing conditions, including necessary shareholder approvals.

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