PR Newswire | Jul 31, 2020 09:49AM EDT

07/31 08:48 CDT

Eaton Vance Closed-End Funds Release Estimated Sources Of Distributions BOSTON, July 31, 2020

BOSTON, July 31, 2020 /PRNewswire/ -- The Eaton Vance closed-end funds listed below released today the estimated sources of their July distributions (each a "Fund"). This press release is issued as required by the Funds' managed distribution plan (Plan) and an exemptive order received from the U.S. Securities and Exchange Commission. The Board of Trustees has approved the implementation of the Plan to make monthly, as noted below, cash distributions to common shareholders, stated in terms of a fixed amount per common share. This information is sent to you for informational purposes only and is an estimate of the sources of the July distribution. It is not determinative of the tax character of a Fund's distributions for the 2020 calendar year. Shareholders should note that each Fund's total regular distribution amount is subject to change as a result of market conditions or other factors.

IMPORTANT DISCLOSURE You should not draw any conclusions about each Fund's investment performance from the amount of this distribution or from the terms of each Fund's Plan. Each Fund estimates that it has distributed more than its income and net realized capital gains; therefore, a portion of your distribution may be a return of capital. A return of capital may occur for example, when some or all of the money that you invested in each Fund is paid back to you. A return of capital distribution does not necessarily reflect each Fund's investment performance and should not be confused with "yield" or "income." The amounts and sources of distributions reported in this notice are only estimates and are not being provided for tax reporting purposes. The actual amounts and sources of the amounts for accounting and/or tax reporting purposes will depend upon each Fund's investment experience during the remainder of its fiscal year and may be subject to changes based on tax regulations. Each Fund will send you a Form 1099-DIV for the calendar year that will tell you how to report these distributions for federal income tax purposes.

The following tables set forth estimates of the sources of each Fund's July distribution and its cumulative distributions paid for its fiscal year through July 31, 2020, and information relating to each Fund's performance based on its net asset value (NAV) for certain periods.

Eaton Vance Enhanced Equity Income Fund (NYSE: EOI)

Distribution Period: July- 2020

Distribution Amount per Common Share: $0.0898

Distribution Frequency: Monthly

Fiscal Year End: September

Cumulative % of Current Distributions % of the CumulativeSource Current Distribution Distribution for the Distributions for the Fiscal Year- Fiscal Year-to-Date to-Date

Net Investment Income $0.0087 9.70% $0.1051 11.70%

Net Realized Short-Term Capital Gains $0.0000 0.00% $0.0000 0.00%

Net Realized Long-Term Capital Gains $0.0000 0.00% $0.0000 0.00%

Return of Capital or Other Capital Source(s) $0.0811 90.30% $0.7929 88.30%

Total per common share $0.0898 100.00% $0.8980 100.00%

Average annual total return at NAV for the 5-year period ended on June 30, 2020 8.18%^1

Annualized current distribution rate expressed as a percentage of NAV as of 7.26%June 30, 2020 ^2

Cumulative total return at NAV for the fiscal year through June 30, 2020 ^3 4.21%

Cumulative fiscal year to date distribution rate as a percentage of NAV as of 5.45%June 30, 2020 ^4

Eaton Vance Enhanced Equity Income Fund II (NYSE: EOS)

Distribution Period: July- 2020

Distribution Amount per Common Share: 0.0988

Distribution Frequency: Monthly

Fiscal Year End: December

Cumulative % of Current Distributions % of the CumulativeSource Current Distribution Distribution for the Distributions for the Fiscal Year- Fiscal Year-to-Date to-Date

Net Investment Income $0.0000 0.00% $0.0000 0.00%

Net Realized Short-Term Capital Gains $0.0000 0.00% $0.0000 0.00%

Net Realized Long-Term Capital Gains $0.0000 0.00% $0.0000 0.00%

Return of Capital or Other Capital Source(s) $0.0988 100.00% $0.6916 100.00%

Total per common share $0.0988 100.00% $0.6916 100.00%

Average annual total return at NAV for the 5-year period ended on June 30, 2020 11.28%^1

Annualized current distribution rate expressed as a percentage of NAV as of 6.76%June 30, 2020 ^2

Cumulative total return at NAV for the fiscal year through June 30, 2020 ^3 3.25%

Cumulative fiscal year to date distribution rate as a percentage of NAV as of 2.81%June 30, 2020 ^4

Eaton Vance Risk-Managed Diversified Equity Income Fund (NYSE: ETJ)

Distribution Period: July- 2020

Distribution Amount per Common Share: $0.0760

Distribution Frequency: Monthly

Fiscal Year End: December

Cumulative % of Current Distributions % of the CumulativeSource Current Distribution Distribution for the Distributions for the Fiscal Year- Fiscal Year-to-Date to-Date

Net Investment Income $0.0051 6.70% $0.0426 8.00%

Net Realized Short-Term Capital Gains $0.0000 0.00% $0.0000 0.00%

Net Realized Long-Term Capital Gains $0.0000 0.00% $0.1990 37.40%

Return of Capital or Other Capital Source(s) $0.0709 93.30% $0.2904 54.60%

Total per common share $0.0760 100.00% $0.5320 100.00%

Average annual total return at NAV for the 5-year period ended on June 30, 2020 6.31%^1

Annualized current distribution rate expressed as a percentage of NAV as of 9.54%June 30, 2020 ^2

Cumulative total return at NAV for the fiscal year through June 30, 2020 ^3 7.61%

Cumulative fiscal year to date distribution rate as a percentage of NAV as of 4.77%June 30, 2020 ^4

Eaton Vance Tax-Advantaged Dividend Income Fund (NYSE: EVT)

Distribution Period: July- 2020

Distribution Amount per Common Share: $0.1450

Distribution Frequency: Monthly

Fiscal Year End: October

Cumulative % of Current Distributions % of the CumulativeSource Current Distribution Distribution for the Distributions for the Fiscal Year- Fiscal Year-to-Date to-Date

Net Investment Income $0.0650 44.80% $0.4267 32.70%

Net Realized Short-Term Capital Gains $0.0000 0.00% $0.0000 0.00%

Net Realized Long-Term Capital Gains $0.0740 50.90% $0.6695 51.30%

Return of Capital or Other Capital Source(s) $0.0060 4.30% $0.2088 16.00%

Total per common share $0.1450 100.00% $1.3050 100.00%

Average annual total return at NAV for the 5-year period ended on June 30, 2020 6.43%^1

Annualized current distribution rate expressed as a percentage of NAV as of 8.54%June 30, 2020 ^2

Cumulative total return at NAV for the fiscal year through June 30, 2020 ^3 -11.55%

Cumulative fiscal year to date distribution rate as a percentage of NAV as of 5.69%June 30, 2020 ^4

Eaton Vance Tax-Advantaged Global Dividend Opportunities Fund (NYSE: ETO)

Distribution Period: July- 2020

Distribution Amount per Common Share: $0.1425

Distribution Frequency: Monthly

Fiscal Year End: October

Cumulative % of Current Distributions % of the CumulativeSource Current Distribution Distribution for the Distributions for the Fiscal Year- Fiscal Year-to-Date to-Date

Net Investment Income $0.0385 27.00% $0.2484 16.50%

Net Realized Short-Term Capital Gains $0.0000 0.00% $0.0000 0.00%

Net Realized Long-Term Capital Gains $0.1040 73.00% $1.2591 83.50%

Return of Capital or Other Capital Source(s) $0.0000 0.00% $0.0000 0.00%

Total per common share $0.1425 100.00% $1.5075 100.00%

Average annual total return at NAV for the 5-year period ended on June 30, 2020 7.36%^1

Annualized current distribution rate expressed as a percentage of NAV as of 7.84%June 30, 2020 ^2

Cumulative total return at NAV for the fiscal year through June 30, 2020 ^3 -2.67%

Cumulative fiscal year to date distribution rate as a percentage of NAV as of 6.26%June 30, 2020 ^4

Eaton Vance Tax-Managed Buy-Write Income Fund (NYSE: ETB)

Distribution Period: July- 2020

Distribution Amount per Common Share: $0.1080

Distribution Frequency: Monthly

Fiscal Year End: December

Cumulative % of Current Distributions % of the CumulativeSource Current Distribution Distribution for the Distributions for the Fiscal Year- Fiscal Year-to-Date to-Date

Net Investment Income $0.0090 8.30% $0.0727 9.60%

Net Realized Short-Term Capital Gains $0.0000 0.00% $0.0000 0.00%

Net Realized Long-Term Capital Gains $0.0000 0.00% $0.0000 0.00%

Return of Capital or Other Capital Source(s) $0.0990 91.70% $0.6833 90.40%

Total per common share $0.1080 100.00% $0.7560 100.00%

Average annual total return at NAV for the 5-year period ended on June 30, 2020 4.71%^1

Annualized current distribution rate expressed as a percentage of NAV as of 9.74%June 30, 2020 ^2

Cumulative total return at NAV for the fiscal year through June 30, 2020 ^3 -8.54%

Cumulative fiscal year to date distribution rate as a percentage of NAV as of 4.87%June 30, 2020 ^4

Eaton Vance Tax-Managed Buy-Write Opportunities Fund (NYSE: ETV)

Distribution Period: July- 2020

Distribution Amount per Common Share: $0.1108

Distribution Frequency: Monthly

Fiscal Year End: December

Cumulative % of Current Distributions % of the CumulativeSource Current Distribution Distribution for the Distributions for the Fiscal Year- Fiscal Year-to-Date to-Date

Net Investment Income $0.0042 3.80% $0.0403 5.20%

Net Realized Short-Term Capital Gains $0.0000 0.00% $0.0000 0.00%

Net Realized Long-Term Capital Gains $0.0000 0.00% $0.0000 0.00%

Return of Capital or Other Capital Source(s) $0.1066 96.20% $0.7353 94.80%

Total per common share $0.1108 100.00% $0.7756 100.00%

Average annual total return at NAV for the 5-year period ended on June 30, 2020 6.85%^1

Annualized current distribution rate expressed as a percentage of NAV as of 10.13%June 30, 2020 ^2

Cumulative total return at NAV for the fiscal year through June 30, 2020 ^3 -5.67%

Cumulative fiscal year to date distribution rate as a percentage of NAV as of 5.06%June 30, 2020 ^4

Eaton Vance Tax-Managed Diversified Equity Income Fund (NYSE: ETY)

Distribution Period: July- 2020

Distribution Amount per Common Share: $0.0843

Distribution Frequency: Monthly

Fiscal Year End: October

Cumulative % of Current Distributions % of the CumulativeSource Current Distribution Distribution for the Distributions for the Fiscal Year- Fiscal Year-to-Date to-Date

Net Investment Income $0.0057 6.80% $0.0706 9.30%

Net Realized Short-Term Capital Gains $0.0000 0.00% $0.0000 0.00%

Net Realized Long-Term Capital Gains $0.0000 0.00% $0.0000 0.00%

Return of Capital or Other Capital Source(s) $0.0786 93.20% $0.6881 90.7%

Total per common share $0.0843 100.00% $0.7587 100.0%

Average annual total return at NAV for the 5-year period ended on June 30, 2020 7.67%^1

Annualized current distribution rate expressed as a percentage of NAV as of 8.87%June 30, 2020 ^2

Cumulative total return at NAV for the fiscal year through June 30, 2020 ^3 2.05%

Cumulative fiscal year to date distribution rate as a percentage of NAV as of 5.92%June 30, 2020 ^4

Eaton Vance Tax-Managed Global Buy-Write Opportunities Fund (NYSE: ETW)

Distribution Period: July- 2020

Distribution Amount per Common Share: $0.0727

Distribution Frequency: Monthly

Fiscal Year End: December

Cumulative % of Current Distributions % of the CumulativeSource Current Distribution Distribution for the Distributions for the Fiscal Year-t Fiscal Year-to-Date o-Date

Net Investment Income $0.0057 7.90% $0.0560 11.00%

Net Realized Short-Term Capital Gains $0.0000 0.00% $0.0000 0.00%

Net Realized Long-Term Capital Gains $0.0670 92.10% $0.0716 14.10%

Return of Capital or Other Capital Source(s) $0.0000 0.00% $0.3813 74.90%

Total per common share $0.0727 100.00% $0.5089 100.00%

Average annual total return at NAV for the 5-year period ended on June 30, 2020 4.22%^1

Annualized current distribution rate expressed as a percentage of NAV as of 9.44%June 30, 2020 ^2

Cumulative total return at NAV for the fiscal year through June 30, 2020 ^3 -7.18%

Cumulative fiscal year to date distribution rate as a percentage of NAV as of 4.72%June 30, 2020 ^4

Eaton Vance Tax-Advantaged Global Dividend Income (NYSE: ETG)

Distribution Period: July- 2020

Distribution Amount per Common Share: $0.1025

Distribution Frequency: Monthly

Fiscal Year End: October

Cumulative % of Current Distributions % of the CumulativeSource Current Distribution Distribution for the Distributions for the Fiscal Year- Fiscal Year-to-Date to-Date

Net Investment Income $0.1025 100.00% $0.8250 89.40%

Net Realized Short-Term Capital Gains $0.0000 0.00% $0.0000 0.00%

Net Realized Long-Term Capital Gains $0.0000 0.00% $0.0000 0.00%

Return of Capital or Other Capital Source(s) $0.0000 0.00% $0.0975 10.60%

Total per common share $0.1025 100.00% $0.9225 100.00%

Average annual total return at NAV for the 5-year period ended on June 30, 2020 5.18%^1

Annualized current distribution rate expressed as a percentage of NAV as of 7.85%June 30, 2020 ^2

Cumulative total return at NAV for the fiscal year through June 30, 2020 ^3 -5.51%

Cumulative fiscal year to date distribution rate as a percentage of NAV as of 5.24%June 30, 2020 ^4

Eaton Vance Tax-Managed Global Diversified Equity Income Fund (NYSE: EXG)

Distribution Period: July- 2020

Distribution Amount per Common Share: $0.0616

Distribution Frequency: Monthly

Fiscal Year End: October

Cumulative % of Current Distributions % of the CumulativeSource Current Distribution Distribution for the Distributions for the Fiscal Year- Fiscal Year-to-Date to-Date

Net Investment Income $0.0025 4.10% $0.0377 6.80%

Net Realized Short-Term Capital Gains $0.0000 0.00% $0.0000 0.00%

Net Realized Long-Term Capital Gains $0.0000 0.00% $0.0000 0.00%

Return of Capital or Other Capital Source(s) $0.0591 95.90% $0.5167 93.20%

Total per common share $0.0616 100.00% $0.5544 100.00%

Average annual total return at NAV for the 5-year period ended on June 30, 2020 5.34%^1

Annualized current distribution rate expressed as a percentage of NAV as of 9.27%June 30, 2020 ^2

Cumulative total return at NAV for the fiscal year through June 30, 2020 ^3 -2.35%

Cumulative fiscal year to date distribution rate as a percentage of NAV as of 6.18%June 30, 2020 ^4

Eaton Vance Tax-Managed Buy-Write Strategy Fund (NYSE: EXD)

Distribution Period: July- 2020

Distribution Amount per Common Share: $0.0708

Distribution Frequency: Monthly

Fiscal Year End: December

Cumulative % of Current Distributions % of the CumulativeSource Current Distribution Distribution for the Distributions for the Fiscal Year- Fiscal Year-to-Date to-Date

Net Investment Income $0.0011 1.60% $0.0169 3.40%

Net Realized Short-Term Capital Gains $0.0000 0.00% $0.0000 0.00%

Net Realized Long-Term Capital Gains $0.0000 0.00% $0.0000 0.00%

Return of Capital or Other Capital Source(s) $0.0697 98.40% $0.4787 96.60%

Total per common share $0.0708 100.00% $0.4956 100.00%

Average annual total return at NAV for the 5-year period ended on June 30, 2020 0.51%^1

Annualized current distribution rate expressed as a percentage of NAV as of 8.87%June 30, 2020 ^2

Cumulative total return at NAV for the fiscal year through June 30, 2020 ^3 -4.78%

Cumulative fiscal year to date distribution rate as a percentage of NAV as of 4.43%June 30, 2020 ^4

^1 Average annual total return at NAV represents the change in NAV of the Fund,with all distributions reinvested, for the 5-year period ended

on June 30, 2020

^2 The annualized current distribution rate is the cumulative distribution rateannualized as a percentage of the Fund's NAV as of June 30 ,2020

^3 Cumulative total return at NAV is the percentage change in the Fund's NAVfor the period from the beginning of its fiscal year to June 30, 2020

including distributions paid and assuming reinvestment of thosedistributions.

^4 Cumulative fiscal year distribution rate for the period from the beginningof its fiscal year to June 30, 2020 measured on the dollar value of the

distributions in year-to-date period as a percentage of the Fund's NAV as ofJune 30, 2020

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SOURCE Eaton Vance Management