BRW Announces $0.085 Dividend

Saba Capital Income & Opportunities Fund (NYSE: BRW) (the “Fund”), a closed-end management investment company listed on the New York Stock Exchange, declared a monthly dividend of $0.085 per share on November 30, 2023, payable on December 29, 2023 to shareholders of record as of December 11, 2023.

Managed Distribution Plan. The above distribution was declared in accordance with the Fund’s currently effective managed distribution plan, whereby the Fund will make monthly distributions to shareholders at an annual minimum fixed rate of 12.00%, based on the average monthly net asset value of the Fund’s common shares as of the last business day of June or December, as more fully described below. As of July 2023, the Fund will (a) for the distributions that are paid in the months of January, February, March, April, May, and June (each, a “First Half Distribution”), use the average net asset value for the month of December from the previous calendar year (the “December NAV Month”) and (b) for the distributions that are paid in the months of July, August, September, October, November, and December (each, a “Second Half Distribution”), use the average net asset value for the month of June from the current calendar year (the “June NAV Month” and together with the December NAV Month, each a “NAV Month”). Such average net asset value calculations for a NAV Month will be based on the number of business days in such applicable NAV Month. The distribution will be calculated as 12.00% of the applicable NAV Month’s average net asset value, divided by twelve. Prior to July 2023, under the managed distribution plan, monthly distributions were based on the average net asset value for the month in which the distribution was declared. The Fund will generally distribute amounts necessary to satisfy the Fund’s plan and the requirements prescribed by excise tax rules and Subchapter M of the Internal Revenue Code. The plan is intended to provide shareholders with a constant, but not guaranteed, fixed minimum rate of distribution each month and is intended to narrow the discount between the market price and the net asset value of the Fund’s common shares, but there is no assurance that the plan will be successful in doing so.