IDE Voya Infrastructure Industrials and Materials Fund

Voya Investment Management, the asset management business of Voya Financial, Inc. (NYSE: VOYA), announced an increase in the distribution rate on five funds: Voya Global Advantage and Premium Opportunity Fund (NYSE: IGA), Voya Global Equity Dividend and Premium Opportunity Fund (NYSE: IGD), Voya Infrastructure, Industrials and Materials Fund (NYSE: IDE), Voya Asia Pacific High Dividend Equity Income Fund (NYSE: IAE), and Voya Emerging Markets High Dividend Equity Fund (NYSE: IHD).

The increase is intended to address demand in the market for higher distribution rates given the increase in market yields and competition from alternative sources of regular cashflows. Voya previously announced a change to the distribution frequency from quarterly to monthly for four of the funds; therefore, all five funds will make monthly distributions. The combination of monthly payments with higher distribution rates, including, potentially, returning capital to investors at net asset value, aims to have the funds serve as an attractive regular source of cashflow for investors.

The changes to distributions are summarized below:

Old

New

Fund

Ticker

Distribution

Frequency

Annualized Amount*

Distribution

Frequency

Annualized Amount*

% Change

Voya Global Advantage and Premium Opportunity Fund

IGA

$0.197

Quarterly

$0.788

$0.085

Monthly

$1.02

+29%

Voya Global Equity Dividend and Premium Opportunity Fund

IGD

$0.04

Monthly

$0.48

$0.050

Monthly

$0.60

+25%

Voya Infrastructure, Industrials and Materials Fund

IDE

$0.229

Quarterly

$0.916

$0.100

Monthly

$1.20

+31%

Voya Emerging Markets High Dividend Equity Fund

IHD

$0.135

Quarterly

$0.54

$0.055

Monthly

$0.66

+22%

Voya Asia Pacific High Dividend Equity Income Fund

IAE

$0.16

Quarterly

$0.64

$0.065

Monthly

$0.78

+22%

*Annualized distributions are the product of the periodic distribution and payment frequency; distributions are declared monthly and future distributions may differ from the amount declared today.

The change in distributions will take effect with the payment made on May 15, 2024. The record date for the distributions is May 2, 2024, and ex-date is May 1, 2024.

The following table sets forth an estimate of the sources of each Fund’s April distribution and its cumulative distributions paid this fiscal year to date. Amounts are expressed on a per common share basis and as a percentage of the distribution amount.

Data as of 3/31/2024 Estimated Sources Fiscal YTD Estimated Percentages of Current Distribution Estimated Sources of Distribution of Distribution Per Share Net Investment LT ST Return of Per Share Net Investment LT ST Return of Net Investment LT ST Return of Distribution Income Gains Gains Capital Distribution Income Gains Gains Capital Income Gains Gains Capital IGA (FYE 2/28)

0.197

0.057

0.000

0.000

0.140

0.197

0.057

0.000

0.000

0.140

28.8%

0.0%

0.0%

71.2%

IGD (FYE 2/28)

0.040

0.020

0.000

0.000

0.020

0.080

0.021

0.000

0.000

0.059

26.4%

0.0%

0.0%

73.6%

IDE (FYE 2/28)

0.229

0.037

0.000

0.000

0.192

0.229

0.037

0.000

0.000

0.192

16.1%

0.0%

0.0%

83.9%

IHD (FYE 2/28)

0.135

0.000

0.000

0.000

0.135

0.135

0.000

0.000

0.000

0.135

0.0%

0.0%

0.0%

100.0%

IAE (FYE 2/28)

0.160

0.000

0.000

0.000

0.160

0.160

0.000

0.000

0.000

0.160

0.0%

0.0%

0.0%

100.0%

Set forth in the tables below is information relating to each Fund’s performance based on its net asset value (NAV) for certain periods.

Data as of 3/31/2024     Annualized Cumulative Fiscal Fiscal YTD Fiscal YTD Distribution YTD 5-Year Distribution Rate Fiscal YTD Distribution Rate Rate Distribution NAV Return on NAV on NAV1 Return on NAV on NAV1 IGA (FYE 2/28)

0.197

0.197

10.35

5.20%

7.61%

5.48%

1.90%

IGD (FYE 2/28)

0.040

0.080

6.05

5.11%

7.93%

4.72%

1.32%

IDE (FYE 2/28)

0.229

0.229

12.16

5.35%

7.53%

4.78%

1.88%

IHD (FYE 2/28)

0.135

0.135

6.14

2.35%

8.79%

1.93%

2.20%

IAE (FYE 2/28)

0.160

0.160

7.21

2.84%

8.88%

4.11%

2.22%

  1 As a percentage of 3/28/2024 NAV

You should not draw any conclusions about the Funds’ investment performance from the amount of this distribution or from the terms of the Funds’ Plan. The Funds’ estimate 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 the Funds’ is paid back to you. A return of capital distribution does not necessarily reflect the Funds’ investment performance and should not be confused with ‘yield’ or ‘income.’ The amounts and sources of distributions reported in this Section 19(a) Notice are only estimates and are not being provided for tax reporting purposes. The actual amounts and sources of the amounts for tax reporting purposes will depend upon the Funds’ investment experience during the remainder of its fiscal year and may be subject to changes based on tax regulations. The Funds’ 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.

Past performance is no guarantee of future results. Investment return and principal value of an investment will fluctuate, and shares, when redeemed, may be worth more or less than their original cost. Current performance may be lower or higher than the performance data quoted.

Shares of closed-end funds often trade at a discount from their net asset value. The market price of Fund shares may vary from net asset value based on factors affecting the supply and demand for shares, such as Fund distribution rates relative to similar investments, investors' expectations for future distribution changes, the clarity of the Fund's investment strategy and future return expectations, and investors' confidence in the underlying markets in which the Fund invests. Fund shares are subject to investment risk, including possible loss of principal invested. No Fund is a complete investment program and you may lose money investing in a Fund. An investment in a Fund may not be appropriate for all investors. Before investing, prospective investors should consider carefully the Fund's investment objective, risks, charges and expenses.

Certain statements made on behalf of the Funds in this release are forward-looking statements. The Funds actual future results may differ significantly from those anticipated in any forward-looking statements due to numerous factors, including but not limited to a decline in value in equity markets in general or the Funds' investments specifically. Neither the Funds nor Voya Investment Management undertake any responsibility to update publicly or revise any forward-looking statement.

This information should not be used as a basis for legal and/or tax advice. In any specific case, the parties involved should seek the guidance and advice of their own legal and tax counsel.

About Voya® Investment Management

Voya Investment Management manages approximately $322 billion as of December 31, 2023 in assets across public and private fixed income, equities, multi-asset solutions and alternative strategies for institutions, financial intermediaries and individual investors, drawing on a 50-year legacy of active investing and the expertise of 300+ investment professionals. Voya IM has cultivated a culture grounded in a commitment to understanding and anticipating clients’ needs, producing strong investment performance, and embedding diversity, equity and inclusion in its business.

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