<p>纽约 --（商业资讯）--Saba Capital Income &amp; Opportunities Fund II（纽约证券交易所代码：SABA）（以下简称 “基金”），是一家在纽约证券交易所上市的注册封闭式管理投资公司，于 2026 年 1 月 30 日宣布每股 0.058 美元的月度分红，将于 2026 年 2 月 27 日支付给截至 2026 年 2 月 10 日的股东。</p>
<p><strong>管理分配计划。</strong> 上述分配是根据基金当前有效的管理分配计划（以下简称 “计划”）宣布的，基金将以每股固定金额 0.058 美元向股东进行每月分配。因此，所示的分配金额不包括特别分红（这些分红不根据该计划支付）。基金通常会分配满足基金计划和根据消费税规则及《国内税收法》第 M 章规定的要求所需的金额。该计划旨在为股东提供每月固定的最低分配率，虽然不保证，但旨在缩小基金普通股的市场价格与净资产价值之间的折扣，但不能保证该计划会成功实现这一目标。</p>
<p>根据该计划，如果每月没有足够的投资收入可用，基金将分配长期资本收益和/或资本回报，以维持其管理分配率。因此，长期资本收益和/或资本回报可能是任何分配的重要来源。不能仅根据基金的分配金额或基金计划的条款得出基金投资表现的结论。基金董事会（以下简称 “董事会”）可以在任何时候修改计划条款或终止计划，而无需提前通知基金股东。无法保证任何分配水平。计划的修改或终止可能对基金普通股的市场价格产生不利影响。该计划需接受董事会的定期审查，包括对年度最低固定利率的年度审查，以确定是否需要进行调整。</p>
<p>根据 1940 年投资公司法第 19a-1 条的规定，股东将收到一份通知，详细说明上述分红的收入来源，例如净投资收入、证券出售收益和本金回报；然而，实际的收入来源只能在年末确定。所有基金分红的实际来源金额将包含在基金的年度或半年度报告中。此外，税务处理可能与用于计算基金分红来源的会计处理不同，如股东报表所示。股东应参考其 1099-DIV 表格，以了解收入税报告目的的分配性质和金额。由于每位股东的税务情况各不相同，建议咨询税务顾问，以确定基金分配的适当处理方式。</p>
<p><strong>过去的表现不能保证未来的结果。</strong> 基金的投资回报和本金价值会波动。出售时，股份的价值可能高于或低于其原始成本。投资者应仔细考虑投资目标、风险和费用。您可以通过访问 https://www.sec.gov/edgar/browse/?CIK=828803&amp;owner=exclude 获取基金最新的定期报告和文件。</p>
<p><strong>其他信息和某些风险因素：</strong> 基金的投资目标是为投资者提供高当前收入，次要目标是资本增值。不能保证基金会实现其投资目标。基金通过全球投资于公共和私人公司的债务和股本证券来实现这一目标，其中包括对封闭式基金、特殊目的收购公司（“SPACs”）、再保险以及公共和私人债务工具的投资。基金还可能利用衍生品，包括但不限于总回报掉期、信用违约掉期、期权和期货，以寻求提高回报和/或降低投资组合风险。</p>
<p>基金在上市和非上市公司及股权衍生品的股票证券投资价值通常与发行人的表现以及股市的整体波动相关。因此，如果基金投资于发行人表现与基金投资经理的预期不符的股票工具，或者如果股市整体朝单一方向波动而基金未对这种整体波动进行对冲，基金可能会遭受损失。基金投资于封闭式基金和特殊目的收购公司（SPAC），这些投资面临额外的风险和考虑。再保险相关证券及再保险行业本身的表现与各种触发事件的发生相关，包括但不限于天气、自然灾害（飓风、地震等）、非自然的大型灾难以及其他导致物理和/或经济损失的特定事件。如果基金投资于发生触发事件的再保险相关证券，与该事件相关的损失可能导致基金投资的损失，而一系列影响基金持有的大部分再保险相关证券的重大触发事件可能导致基金投资的重大损失。基金可能投资于高收益证券，这类证券具有投机性质，并面临额外的风险因素，例如违约可能性增加、证券流动性不足以及基于利率变化的价值变化。短期市场利率的变化可能直接影响基金普通股的收益率。如果这些利率下降，基金的收益率也可能下降。如果基金持有的债券和贷款的利率差普遍下降，债券和贷款的收益率可能会下降，且这些债券和贷款的价值可能会减少。当短期市场利率上升时，由于短期利率变化与基金投资组合中债券和贷款浮动利率重设之间存在滞后，利率上升的影响将会因滞后而延迟。由于某些债券和贷款的二级市场有限，基金及时出售这些证券和/或以有利价格出售的能力可能受到限制。对债券和贷款需求的增加可能会对基金新购债券和贷款的利息支付率产生不利影响，并可能提高基金在二级市场购买的债券和贷款的价格。对债券和贷款需求的减少可能会对基金投资组合中债券和贷款的价格产生不利影响，从而导致基金净资产值下降。投资于外国借款人涉及特殊风险，包括但不限于可能较少的会计要求、不同的法律体系以及潜在的政治、社会和经济逆境。基金可能进行货币兑换交易，以尽可能对冲因外汇波动对基金产生的经济影响。其他风险包括但不限于衍生品的使用、基金投资组合可能缺乏多样化，以及基金投资组合可能在某些时候集中于少数行业或行业部门。投资者应查阅基金向证券交易委员会提交的文件以及基金网站上的材料，以获取有关影响基金的这些或其他风险因素的更详细讨论。</p>
<p><strong>关于 Saba Capital Income &amp; Opportunities Fund II。</strong> Saba Capital Income &amp; Opportunities Fund II 是一家公开交易的注册封闭式管理投资公司。该基金的普通股在纽约证券交易所以 “ SABA ” 的股票代码交易。该基金由 Saba Capital Management, L.P. 管理。</p>
<p><strong>前瞻性声明。</strong> 本新闻稿包含前瞻性声明，这些声明受到预测未来结果和条件固有的不确定性的影响。任何不是历史事实的声明（包括但不限于包含 “相信”、“计划”、“预期”、“估计” 等类似表达的声明）也应视为前瞻性声明。这些声明并不保证未来的表现、条件或结果，并涉及多种风险和不确定性。某些因素可能导致实际结果和条件与这些前瞻性声明中预测的结果有重大差异。这些因素，包括但不限于上述提到的 “某些风险因素”，不时在基金向证券交易委员会提交的文件以及基金网站上的材料中列出。除法律要求外，基金没有义务更新这些声明以反映后续事件。</p>
<p>有关 Saba Capital Income &amp; Opportunities Fund II 的更多信息，请访问我们的网站：www.sabacef.com。</p>
<p><img src="https://imageproxy.pbkrs.com/https://cts.businesswire.com/ct/CT/query-ZGlzdHJvPW54JmlkPWJ3bmV3cyZsYW5nPWVuJnNpZD1hY3FyOCZzdHk9MjAyNjAyMDI5MTI4OTZyMQ?x-oss-process=image/auto-orient,1/interlace,1/resize,w_1440,h_1440/quality,q_95/format,jpg" alt="" original-src="https://imageproxy.pbkrs.com/https://cts.businesswire.com/ct/CT/query-ZGlzdHJvPW54JmlkPWJ3bmV3cyZsYW5nPWVuJnNpZD1hY3FyOCZzdHk9MjAyNjAyMDI5MTI4OTZyMQ"/></p>
<p>在 businesswire.com 查看源版本：https://www.businesswire.com/news/home/20260202912896/en/</p>
<p>888-888-0319</p>
<p>来源：Saba Capital Income &amp; Opportunities Fund II</p>

BRW.RT

BRW.RT*

<p>Saba Capital Income & Opportunities Fund II (NYSE: SABA) 宣布每股派发月度股息 $0.058，将于 2026 年 2 月 27 日支付给截至 2026 年 2 月 10 日的股东。此次分配是该基金管理分配计划的一部分，旨在提供稳定的月度支付。如果投资收入不足，基金也可能分配长期资本收益或资本回报。股东将收到一份通知，详细说明股息收入的来源，董事会可以随时修改或终止该计划</p>

<p>NEW YORK--(BUSINESS WIRE)--Saba Capital Income &amp; Opportunities Fund II (NYSE: SABA) (the “Fund”), a registered closed-end management investment company listed on the New York Stock Exchange, declared a monthly dividend of $0.058 per share on January 30, 2026, payable on February 27, 2026 to shareholders of record as of February 10, 2026.</p>
<div class="lb-trans"><p>纽约 --（商业资讯）--Saba Capital Income &amp; Opportunities Fund II（纽约证券交易所代码：SABA）（以下简称 “基金”），是一家在纽约证券交易所上市的注册封闭式管理投资公司，于 2026 年 1 月 30 日宣布每股 0.058 美元的月度分红，将于 2026 年 2 月 27 日支付给截至 2026 年 2 月 10 日的股东。</p>
</div><p><strong>Managed Distribution Plan.</strong> The above distribution was declared in accordance with the Fund’s currently effective managed distribution plan (the “Plan”), whereby the Fund will make monthly distributions to shareholders at a fixed amount of $0.058 per share. Thus, the distribution amount shown excludes special dividends (which are not paid pursuant to the plan). 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.</p>
<div class="lb-trans"><p><strong>管理分配计划。</strong> 上述分配是根据基金当前有效的管理分配计划（以下简称 “计划”）宣布的，基金将以每股固定金额 0.058 美元向股东进行每月分配。因此，所示的分配金额不包括特别分红（这些分红不根据该计划支付）。基金通常会分配满足基金计划和根据消费税规则及《国内税收法》第 M 章规定的要求所需的金额。该计划旨在为股东提供每月固定的最低分配率，虽然不保证，但旨在缩小基金普通股的市场价格与净资产价值之间的折扣，但不能保证该计划会成功实现这一目标。</p>
</div><p>Under the Plan, to the extent that sufficient investment income is not available on a monthly basis, the Fund will distribute long-term capital gains and/or return of capital in order to maintain its managed distribution rate. As a result, long-term capital gains and/or return of capital may be a material source of any distribution. No conclusions should be drawn about the Fund’s investment performance from the amount of the Fund’s distributions or from the terms of the Fund’s Plan. The Board of Trustees (the “Board”) may amend the terms of the Plan or terminate the Plan at any time without prior notice to Fund shareholders. No level of distribution can be guaranteed. The amendment or termination of the Plan could have an adverse effect on the market price of the Fund’s common shares. The Plan is subject to the periodic review by the Board, including a yearly review of the annual minimum fixed rate to determine if an adjustment should be made.</p>
<div class="lb-trans"><p>根据该计划，如果每月没有足够的投资收入可用，基金将分配长期资本收益和/或资本回报，以维持其管理分配率。因此，长期资本收益和/或资本回报可能是任何分配的重要来源。不能仅根据基金的分配金额或基金计划的条款得出基金投资表现的结论。基金董事会（以下简称 “董事会”）可以在任何时候修改计划条款或终止计划，而无需提前通知基金股东。无法保证任何分配水平。计划的修改或终止可能对基金普通股的市场价格产生不利影响。该计划需接受董事会的定期审查，包括对年度最低固定利率的年度审查，以确定是否需要进行调整。</p>
</div><p>In compliance with Rule 19a-1 of the Investment Company Act of 1940, shareholders will receive a notice that details the source of income for the above dividend, such as net investment income, gain from the sale of securities and return of principal; however, determination of the actual source of the foregoing dividend can only be made at year-end. The actual source amounts of all Fund dividends will be included in the Fund’s annual or semiannual reports. In addition, the tax treatment may differ from the accounting treatment used to calculate the source of the Fund’s dividends as shown on shareholders’ statements. Shareholders should refer to their Form 1099-DIV for the character and amount of distributions for income tax reporting purposes. Since each shareholder’s tax situation is unique, it may be advisable to consult a tax advisor as to the appropriate treatment of Fund distributions.</p>
<div class="lb-trans"><p>根据 1940 年投资公司法第 19a-1 条的规定，股东将收到一份通知，详细说明上述分红的收入来源，例如净投资收入、证券出售收益和本金回报；然而，实际的收入来源只能在年末确定。所有基金分红的实际来源金额将包含在基金的年度或半年度报告中。此外，税务处理可能与用于计算基金分红来源的会计处理不同，如股东报表所示。股东应参考其 1099-DIV 表格，以了解收入税报告目的的分配性质和金额。由于每位股东的税务情况各不相同，建议咨询税务顾问，以确定基金分配的适当处理方式。</p>
</div><p><strong>Past Performance is No Assurance of Future Results.</strong> Investment return and principal value of an investment in the Fund will fluctuate. Shares, when sold, may be worth more or less than their original cost. Investors should consider the investment objective, risks and expenses carefully. You can obtain the Fund’s most recent periodic reports and filings by visiting https://www.sec.gov/edgar/browse/?CIK=828803&amp;owner=exclude.</p>
<div class="lb-trans"><p><strong>过去的表现不能保证未来的结果。</strong> 基金的投资回报和本金价值会波动。出售时，股份的价值可能高于或低于其原始成本。投资者应仔细考虑投资目标、风险和费用。您可以通过访问 https://www.sec.gov/edgar/browse/?CIK=828803&amp;owner=exclude 获取基金最新的定期报告和文件。</p>
</div><p><strong>Other Information and Certain Risk Factors:</strong> The Fund’s investment objective is to provide investors with high current income, with a secondary goal of capital appreciation. There can be no assurance that the Fund will meet its investment objective. The Fund seeks to achieve this objective by investing globally in debt and equity securities of public and private companies, which includes, among other things, investments in closed‐end funds, special purpose acquisition companies (“SPACs”), reinsurance, and public and private debt instruments. The Fund also may utilize derivatives including but not limited to total return swaps, credit default swaps, options and futures, in seeking to enhance returns and/or to reduce portfolio risk.</p>
<div class="lb-trans"><p><strong>其他信息和某些风险因素：</strong> 基金的投资目标是为投资者提供高当前收入，次要目标是资本增值。不能保证基金会实现其投资目标。基金通过全球投资于公共和私人公司的债务和股本证券来实现这一目标，其中包括对封闭式基金、特殊目的收购公司（“SPACs”）、再保险以及公共和私人债务工具的投资。基金还可能利用衍生品，包括但不限于总回报掉期、信用违约掉期、期权和期货，以寻求提高回报和/或降低投资组合风险。</p>
</div><p>The value of the Fund’s investments in equity securities of public and private, listed and unlisted companies and equity derivatives generally varies with the performance of the issuer and movements in the equity markets more generally. As a result, the Fund may suffer losses if it invests in equity instruments of issuers whose performance diverges from the Fund’s investment manager’s expectations or if equity markets generally move in a single direction and the Fund has not hedged against such a general move. The Fund invests in closed-end funds and SPACs, which are subject to additional risks and considerations. The performance of reinsurance-related securities and the reinsurance industry itself are tied to the occurrence of various triggering events, including but not limited to weather, natural disasters (hurricanes, earthquakes, etc.), non-natural large catastrophes and other specified events causing physical and/or economic loss. To the extent the Fund invests in reinsurance-related securities for which a triggering event occurs, losses associated with such event could result in losses to the Fund’s investment, and a series of major triggering events affecting a large portion of the reinsurance- related securities held by the Fund could result in substantial losses to the Fund’s investment. The Fund may invest in high yield securities, which are speculative in nature and are subject to additional risk factors such as increased possibility of default, illiquidity of the security, and changes in value based on changes in interest rates. Changes in short-term market interest rates may directly affect the yield on the Fund’s common shares. If such rates fall, the Fund’s yield may also fall. If interest rate spreads on bonds and loans owned by the Fund decline in general, the yield on the bonds and loans will likely fall and the value of such bonds and loans may decrease. When short-term market interest rates rise, because of the lag between changes in such short-term rates and the resetting of the floating rates on bonds and loans in the Fund’s portfolio, the impact of rising rates will be delayed to the extent of such lag. Because of the limited secondary market for certain bonds and loans, the Fund’s ability to sell such securities in a timely fashion and/or at a favorable price may be limited. An increase in the demand for bonds and loans may adversely affect the rate of interest payable on new bonds and loans acquired by the Fund, and it may also increase the price of bonds and loans purchased by the Fund in the secondary market. A decrease in the demand for bonds and loans may adversely affect the price of bonds and loans in the Fund’s portfolio, which would cause the Fund’s net asset value to decrease. Investment in foreign borrowers involves special risks, including but not limited to potentially less rigorous accounting requirements, differing legal systems and potential political, social and economic adversity. The Fund may engage in currency exchange transactions to seek to hedge, as closely as practicable, all of the economic impact to the Fund arising from foreign currency fluctuations. Other risks include, but are not limited to, the use of derivatives, the potential lack of diversification in the Fund’s portfolio, and the fact that the Fund’s portfolio may be concentrated in a small group of industries or industry sectors from time to time. Investors should consult the Fund’s filings with the Securities and Exchange Commission as well as the materials on the Fund’s website for a more detailed discussion of these or other risk factors that affect the Fund.</p>
<div class="lb-trans"><p>基金在上市和非上市公司及股权衍生品的股票证券投资价值通常与发行人的表现以及股市的整体波动相关。因此，如果基金投资于发行人表现与基金投资经理的预期不符的股票工具，或者如果股市整体朝单一方向波动而基金未对这种整体波动进行对冲，基金可能会遭受损失。基金投资于封闭式基金和特殊目的收购公司（SPAC），这些投资面临额外的风险和考虑。再保险相关证券及再保险行业本身的表现与各种触发事件的发生相关，包括但不限于天气、自然灾害（飓风、地震等）、非自然的大型灾难以及其他导致物理和/或经济损失的特定事件。如果基金投资于发生触发事件的再保险相关证券，与该事件相关的损失可能导致基金投资的损失，而一系列影响基金持有的大部分再保险相关证券的重大触发事件可能导致基金投资的重大损失。基金可能投资于高收益证券，这类证券具有投机性质，并面临额外的风险因素，例如违约可能性增加、证券流动性不足以及基于利率变化的价值变化。短期市场利率的变化可能直接影响基金普通股的收益率。如果这些利率下降，基金的收益率也可能下降。如果基金持有的债券和贷款的利率差普遍下降，债券和贷款的收益率可能会下降，且这些债券和贷款的价值可能会减少。当短期市场利率上升时，由于短期利率变化与基金投资组合中债券和贷款浮动利率重设之间存在滞后，利率上升的影响将会因滞后而延迟。由于某些债券和贷款的二级市场有限，基金及时出售这些证券和/或以有利价格出售的能力可能受到限制。对债券和贷款需求的增加可能会对基金新购债券和贷款的利息支付率产生不利影响，并可能提高基金在二级市场购买的债券和贷款的价格。对债券和贷款需求的减少可能会对基金投资组合中债券和贷款的价格产生不利影响，从而导致基金净资产值下降。投资于外国借款人涉及特殊风险，包括但不限于可能较少的会计要求、不同的法律体系以及潜在的政治、社会和经济逆境。基金可能进行货币兑换交易，以尽可能对冲因外汇波动对基金产生的经济影响。其他风险包括但不限于衍生品的使用、基金投资组合可能缺乏多样化，以及基金投资组合可能在某些时候集中于少数行业或行业部门。投资者应查阅基金向证券交易委员会提交的文件以及基金网站上的材料，以获取有关影响基金的这些或其他风险因素的更详细讨论。</p>
</div><p><strong>About Saba Capital Income &amp; Opportunities Fund II.</strong> Saba Capital Income &amp; Opportunities Fund II is a publicly-traded registered closed-end management investment company. The Fund’s common shares trade on the New York Stock Exchange under the ticker symbol “SABA”. The Fund is managed by Saba Capital Management, L.P.</p>
<div class="lb-trans"><p><strong>关于 Saba Capital Income &amp; Opportunities Fund II。</strong> Saba Capital Income &amp; Opportunities Fund II 是一家公开交易的注册封闭式管理投资公司。该基金的普通股在纽约证券交易所以 “ SABA ” 的股票代码交易。该基金由 Saba Capital Management, L.P. 管理。</p>
</div><p><strong>Forward-Looking Statements.</strong> This press release contains forward-looking statements subject to the inherent uncertainties in predicting future results and conditions. Any statements that are not statements of historical fact (including but not limited to statements containing the words “believes,” “plans,” “anticipates,” “expects,” “estimates” and similar expressions) should also be considered to be forward-looking statements. These statements are not guarantees of future performance, conditions or results and involve a number of risks and uncertainties. Certain factors could cause actual results and conditions to differ materially from those projected in these forward-looking statements. These factors, including but not limited to the “Certain Risk Factors” noted above, are identified from time to time in the Fund’s filings with the Securities and Exchange Commission as well as the materials on the Fund’s website. The Fund undertakes no obligation to update such statements to reflect subsequent events, except as may be required by law.</p>
<div class="lb-trans"><p><strong>前瞻性声明。</strong> 本新闻稿包含前瞻性声明，这些声明受到预测未来结果和条件固有的不确定性的影响。任何不是历史事实的声明（包括但不限于包含 “相信”、“计划”、“预期”、“估计” 等类似表达的声明）也应视为前瞻性声明。这些声明并不保证未来的表现、条件或结果，并涉及多种风险和不确定性。某些因素可能导致实际结果和条件与这些前瞻性声明中预测的结果有重大差异。这些因素，包括但不限于上述提到的 “某些风险因素”，不时在基金向证券交易委员会提交的文件以及基金网站上的材料中列出。除法律要求外，基金没有义务更新这些声明以反映后续事件。</p>
</div><p>For further information on Saba Capital Income &amp; Opportunities Fund II, please visit our website at: www.sabacef.com.</p>
<div class="lb-trans"><p>有关 Saba Capital Income &amp; Opportunities Fund II 的更多信息，请访问我们的网站：www.sabacef.com。</p>
</div><p><img src="https://imageproxy.pbkrs.com/https://cts.businesswire.com/ct/CT/query-ZGlzdHJvPW54JmlkPWJ3bmV3cyZsYW5nPWVuJnNpZD1hY3FyOCZzdHk9MjAyNjAyMDI5MTI4OTZyMQ" alt="" original-src="https://cts.businesswire.com/ct/CT?id=bwnews&amp;sty=20260202912896r1&amp;sid=acqr8&amp;distro=nx&amp;lang=en"/></p>
<p>View source version on businesswire.com: https://www.businesswire.com/news/home/20260202912896/en/</p>
<div class="lb-trans"><p>在 businesswire.com 查看源版本：https://www.businesswire.com/news/home/20260202912896/en/</p>
</div><p>888-888-0319</p>
<div class="lb-trans"><p>888-888-0319</p>
</div><p>Source: Saba Capital Income &amp; Opportunities Fund II</p>
<div class="lb-trans"><p>来源：Saba Capital Income &amp; Opportunities Fund II</p>
</div>

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