BOSTON–(BUSINESS WIRE)–The Eaton Vance closed-end funds listed below released today the estimated sources of their May 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 May distribution. It is not determinative of the tax character of a Fund’s distributions for the 2022 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 May distribution and its cumulative distributions paid for its fiscal year through May 31, 2022, 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:

May- 2022

Distribution Amount per Common Share:

$0.1095

Distribution Frequency:

Monthly

Fiscal Year End:

September

Source

Current Distribution

% of Current Distribution

Cumulative Distributions for the Fiscal Year-to-Date

% of the Cumulative Distributions for the Fiscal Year-to-Date

Net Investment Income

$0.0093

8.50%

$0.0307

3.50%

Net Realized Short-Term Capital Gains

$0.0000

0.00%

$0.0000

0.00%

Net Realized Long-Term Capital Gains

$0.1002

91.50%

$0.8453

96.50%

Return of Capital or Other Capital Source(s)

$0.0000

0.00%

$0.0000

0.00%

Total per common share

$0.1095

100.00%

$0.8760

100.00%

Average annual total return at NAV for the 5-year period ended on April 30, 2022 1

10.72%

Annualized current distribution rate expressed as a percentage of NAV as of April 30, 2022 2

7.94%

Cumulative total return at NAV for the fiscal year through April 30, 2022 3

-5.16%

Cumulative fiscal year to date distribution rate as a percentage of NAV as of April 30, 2022 4

4.63%

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

Distribution Period:

May- 2022

Distribution Amount per Common Share:

$0.1373

Distribution Frequency:

Monthly

Fiscal Year End:

December

Source

Current Distribution

% of Current Distribution

Cumulative Distributions for the Fiscal Year-to-Date

% of the Cumulative Distributions for the Fiscal Year-to-Date

Net Investment Income

$0.0000

0.00%

$0.0000

0.00%

Net Realized Short-Term Capital Gains

$0.1373

100.00%

$0.2499

36.40%

Net Realized Long-Term Capital Gains

$0.0000

0.00%

$0.2945

42.90%

Return of Capital or Other Capital Source(s)

$0.0000

0.000%

$0.1421

20.70%

Total per common share

$0.1373

100.00%

$0.6865

100.00%

Average annual total return at NAV for the 5-year period ended on April 30, 2022 1

11.60%

Annualized current distribution rate expressed as a percentage of NAV as of April 30, 2022 2

9.00%

Cumulative total return at NAV for the fiscal year through April 30, 2022 3

-20.70%

Cumulative fiscal year to date distribution rate as a percentage of NAV as of April 30, 2022 4

3.00%

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

Distribution Period:

May- 2022

Distribution Amount per Common Share:

$0.0760

Distribution Frequency:

Monthly

Fiscal Year End:

December

Source

Current Distribution

% of Current Distribution

Cumulative Distributions for the Fiscal Year-to-Date

% of the Cumulative Distributions for the Fiscal Year-to-Date

Net Investment Income

$0.0031

4.10%

$0.0084

2.20%

Net Realized Short-Term Capital Gains

$0.0729

95.90%

$0.1075

28.30%

Net Realized Long-Term Capital Gains

$0.0000

0.00%

$0.2641

69.50%

Return of Capital or Other Capital Source(s)

$0.0000

0.00%

$0.0000

0.00%

Total per common share

$0.0760

100.00%

$0.3800

100.00%

Average annual total return at NAV for the 5-year period ended on April 30, 2022 1

7.60%

Annualized current distribution rate expressed as a percentage of NAV as of April 30, 2022 2

10.17%

Cumulative total return at NAV for the fiscal year through April 30, 2022 3

-10.77%

Cumulative fiscal year to date distribution rate as a percentage of NAV as of April 30, 2022 4

3.39%

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

Distribution Period:

May- 2022

Distribution Amount per Common Share:

$0.1626

Distribution Frequency:

Monthly

Fiscal Year End:

October

Source

Current Distribution

% of Current Distribution

Cumulative Distributions for the Fiscal Year-to-Date

% of the Cumulative Distributions for the Fiscal Year-to-Date

Net Investment Income

$0.0475

29.20%

$0.3255

28.60%

Net Realized Short-Term Capital Gains

$0.0000

0.00%

$0.0000

0.00%

Net Realized Long-Term Capital Gains

$0.1151

70.80%

$0.8127

71.40%

Return of Capital or Other Capital Source(s)

$0.0000

0.00%

$0.0000

0.00%

Total per common share

$0.1626

100.00%

$1.1382

100.00%

Average annual total return at NAV for the 5-year period ended on April 30, 2022 1

10.85%

Annualized current distribution rate expressed as a percentage of NAV as of April 30, 2022 2

7.63%

Cumulative total return at NAV for the fiscal year through April 30, 2022 3

-7.39%

Cumulative fiscal year to date distribution rate as a percentage of NAV as of April 30, 2022 4

3.82%

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

Distribution Period:

May- 2022

Distribution Amount per Common Share:

$0.1792

Distribution Frequency:

Monthly

Fiscal Year End:

October

Source

Current Distribution

% of Current Distribution

Cumulative Distributions for the Fiscal Year-to-Date

% of the Cumulative Distributions for the Fiscal Year-to-Date

Net Investment Income

$0.0548

30.60%

$0.2822

22.50%

Net Realized Short-Term Capital Gains

$0.0000

0.00%

$0.0000

0.00%

Net Realized Long-Term Capital Gains

$0.0000

0.00%

$0.6787

54.10%

Return of Capital or Other Capital Source(s)

$0.1244

69.40%

$0.2935

23.40%

Total per common share

$0.1792

100.00%

$1.2544

100.00%

Average annual total return at NAV for the 5-year period ended on April 30, 2022 1

10.48%

Annualized current distribution rate expressed as a percentage of NAV as of April 30, 2022 2

8.42%

Cumulative total return at NAV for the fiscal year through April 30, 2022 3

-15.47%

Cumulative fiscal year to date distribution rate as a percentage of NAV as of April 30, 2022 4

4.21%

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

Distribution Period:

May- 2022

Distribution Amount per Common Share:

$0.1080

Distribution Frequency:

Monthly

Fiscal Year End:

December

Source

Current Distribution

% of Current Distribution

Cumulative Distributions for the Fiscal Year-to-Date

% of the Cumulative Distributions for the Fiscal Year-to-Date

Net Investment Income

$0.0060

5.60%

$0.0205

3.80%

Net Realized Short-Term Capital Gains

$0.0620

57.40%

$0.2360

43.70%

Net Realized Long-Term Capital Gains

$0.0400

37.00%

$0.2835

52.50%

Return of Capital or Other Capital Source(s)

$0.0000

0.00%

$0.0000

0.00%

Total per common share

$0.1080

100.00%

$0.5400

100.00%

Average annual total return at NAV for the 5-year period ended on April 30, 2022 1

7.10%

Annualized current distribution rate expressed as a percentage of NAV as of April 30, 2022 2

8.89%

Cumulative total return at NAV for the fiscal year through April 30, 2022 3

-8.84%

Cumulative fiscal year to date distribution rate as a percentage of NAV as of April 30, 2022 4

2.96%

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

Distribution Period:

May- 2022

Distribution Amount per Common Share:

$0.1108

Distribution Frequency:

Monthly

Fiscal Year End:

December

Source

Current Distribution

% of Current Distribution

Cumulative Distributions for the Fiscal Year-to-Date

% of the Cumulative Distributions for the Fiscal Year-to-Date

Net Investment Income

$0.0039

3.50%

$0.0061

1.10%

Net Realized Short-Term Capital Gains

$0.0000

0.00%

$0.0000

0.00%

Net Realized Long-Term Capital Gains

$0.1069

96.50%

$0.1392

25.10%

Return of Capital or Other Capital Source(s)

$0.0000

0.00%

$0.4087

73.80%

Total per common share

$0.1108

100.00%

$0.5540

100.00%

Average annual total return at NAV for the 5-year period ended on April 30, 2022 1

8.44%

Annualized current distribution rate expressed as a percentage of NAV as of April 30, 2022 2

9.72%

Cumulative total return at NAV for the fiscal year through April 30, 2022 3

-12.60%

Cumulative fiscal year to date distribution rate as a percentage of NAV as of April 30, 2022 4

3.24%

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

Distribution Period:

May- 2022

Distribution Amount per Common Share:

$0.0929

Distribution Frequency:

Monthly

Fiscal Year End:

October

Source

Current Distribution

% of Current Distribution

Cumulative Distributions for the Fiscal Year-to-Date

% of the Cumulative Distributions for the Fiscal Year-to-Date

Net Investment Income

$0.0057

6.10%

$0.0215

3.30%

Net Realized Short-Term Capital Gains

$0.0000

0.00%

$0.0000

0.00%

Net Realized Long-Term Capital Gains

$0.0872

93.90%

$0.6288

96.70%

Return of Capital or Other Capital Source(s)

$0.0000

0.00%

$0.0000

0.0%

Total per common share

$0.0929

100.00%

$0.6503

100.0%

Average annual total return at NAV for the 5-year period ended on April 30, 2022 1

9.92%

Annualized current distribution rate expressed as a percentage of NAV as of April 30, 2022 2

9.04%

Cumulative total return at NAV for the fiscal year through April 30, 2022 3

-10.54%

Cumulative fiscal year to date distribution rate as a percentage of NAV as of April 30, 2022 4

4.52%

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

Distribution Period:

May- 2022

Distribution Amount per Common Share:

$0.0727

Distribution Frequency:

Monthly

Fiscal Year End:

December

Source

Current Distribution

% of Current Distribution

Cumulative Distributions for the Fiscal Year-to-Date

% of the Cumulative Distributions for the Fiscal Year-to-Date

Net Investment Income

$0.0083

11.40%

$0.0313

8.60%

Net Realized Short-Term Capital Gains

$0.0552

76.00%

$0.1886

51.90%

Net Realized Long-Term Capital Gains

$0.0092

12.60%

$0.1436

39.50%

Return of Capital or Other Capital Source(s)

$0.0000

0.00%

$0.0000

0.00%

Total per common share

$0.0727

100.00%

$0.3635

100.00%

Average annual total return at NAV for the 5-year period ended on April 30, 2022 1

5.62%

Annualized current distribution rate expressed as a percentage of NAV as of April 30, 2022 2

9.36%

Cumulative total return at NAV for the fiscal year through April 30, 2022 3

-12.21%

Cumulative fiscal year to date distribution rate as a percentage of NAV as of April 30, 2022 4

3.12%

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

Distribution Period:

May- 2022

Distribution Amount per Common Share:

$0.1300

Distribution Frequency:

Monthly

Fiscal Year End:

October

Source

Current Distribution

% of Current Distribution

Cumulative Distributions for the Fiscal Year-to-Date

% of the Cumulative Distributions for the Fiscal Year-to-Date

Net Investment Income

$0.0554

42.60%

$0.1989

21.80%

Net Realized Short-Term Capital Gains

$0.0000

0.00%

$0.0000

0.00%

Net Realized Long-Term Capital Gains

$0.0000

0.00%

$0.4701

51.70%

Return of Capital or Other Capital Source(s)

$0.0746

57.40%

$0.2410

26.50%

Total per common share

$0.1300

100.00%

$0.9100

100.00%

Average annual total return at NAV for the 5-year period ended on April 30, 2022 1

9.36%

Annualized current distribution rate expressed as a percentage of NAV as of April 30, 2022 2

8.39%

Cumulative total return at NAV for the fiscal year through April 30, 2022 3

-14.55%

Cumulative fiscal year to date distribution rate as a percentage of NAV as of April 30, 2022 4

4.19%

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

Distribution Period:

May- 2022

Distribution Amount per Common Share:

$0.0689

Distribution Frequency:

Monthly

Fiscal Year End:

October

Source

Current Distribution

% of Current Distribution

Cumulative Distributions for the Fiscal Year-to-Date

% of the Cumulative Distributions for the Fiscal Year-to-Date

Net Investment Income

$0.0073

10.60%

$0.0198

4.10%

Net Realized Short-Term Capital Gains

$0.0286

41.50%

$0.1432

29.70%

Net Realized Long-Term Capital Gains

$0.0330

47.90%

$0.3193

66.20%

Return of Capital or Other Capital Source(s)

$0.0000

0.00%

$0.0000

0.00%

Total per common share

$0.0689

100.00%

$0.4823

100.00%

Average annual total return at NAV for the 5-year period ended on April 30, 2022 1

8.58%

Annualized current distribution rate expressed as a percentage of NAV as of April 30, 2022 2

9.32%

Cumulative total return at NAV for the fiscal year through April 30, 2022 3

-10.66%

Cumulative fiscal year to date distribution rate as a percentage of NAV as of April 30, 2022 4

4.66%

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

Distribution Period:

May- 2022

Distribution Amount per Common Share:

$0.0708

Distribution Frequency:

Monthly

Fiscal Year End:

December

Source

Current Distribution

% of Current Distribution

Cumulative Distributions for the Fiscal Year-to-Date

% of the Cumulative Distributions for the Fiscal Year-to-Date

Net Investment Income

$0.0004

0.60%

$0.0004

0.10%

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)

$0.0704

99.40%

$0.3536

99.90%

Total per common share

$0.0708

100.00%

$0.3540

100.00%

Average annual total return at NAV for the 5-year period ended on April 30, 2022 1

4.63%

Annualized current distribution rate expressed as a percentage of NAV as of April 30, 2022 2

8.22%

Cumulative total return at NAV for the fiscal year through April 30, 2022 3

-12.19%

Cumulative fiscal year to date distribution rate as a percentage of NAV as of April 30, 2022 4

2.74%

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 April 30, 2022

2 The annualized current distribution rate is the cumulative distribution rate annualized as a percentage of the Fund’s NAV as of April 30, 2022

3 Cumulative total return at NAV is the percentage change in the Fund’s NAV for the period from the beginning of its fiscal year to April 30, 2022 including distributions paid and assuming reinvestment of those distributions.

4 Cumulative fiscal year distribution rate for the period from the beginning of its fiscal year to April 30, 2022 measured on the dollar value of the distributions in year-to-date period as a percentage of the Fund’s NAV as of April 30, 2022

Contacts

Investors: (800) 262-1122