Delaware Ivy High Income Opportunities Fund Announces Distribution

PHILADELPHIA CREAM–(BUSINESS WIRE)–Today, the Delaware Ivy High Income Opportunities Fund (the “Fund”), a closed-end fund listed on the New York Stock Exchange and trading under the symbol “IVH”, declared a monthly distribution of 0, 07 USD per ordinary share. The monthly distribution is payable on August 31, 2022 to shareholders of record at the close of business on August 17, 2022. The ex-dividend date will be August 16, 2022.

The distribution should be paid out of net investment income (regular interest and dividends). The final tax status of the distribution may differ significantly from this preliminary information, which is based on estimates, and the final determination of this amount will be made in early 2023 when the Fund can determine its income and profits for the 2022 financial year.

The Fund’s investment objective is to seek total return through a combination of a high level of current income and capital appreciation. The Fund seeks to achieve its investment objective by investing primarily in a portfolio of high yield corporate bonds of varying maturities and other fixed income instruments of primarily private issuers, including prime secured loans and second rank (“Secured Loans”). In addition, the Fund uses leverage techniques with the aim of obtaining a higher return for the Fund. There can be no assurance that the Fund will achieve its investment objective.

Under normal circumstances, the Fund will invest at least 80% of its assets under management (as defined below) in a portfolio of US and foreign bonds, loans and other fixed income instruments, as well as other investments (including derivatives) with similar economic characteristics. . The Fund will invest primarily in instruments which, at the time of purchase, are rated below investment grade (below Baa3 by Moody’s Investors Service, Inc. (“Moody’s”) or below BBB- by Standard & Poor’s Rating Services (“S&P”)) or Fitch, Inc. (“Fitch”), or comparably rated by another nationally recognized statistical rating organization (“NRSRO”)), or unrated but deemed by the advisor to be of comparable quality. “Assets under Management” means the total assets of the Fund, including assets attributable to the proceeds of any borrowing or other form of structural leverage less liabilities other than total indebtedness incurred for the purpose of leverage. The Fund may invest 100% of its Managed Assets in fixed income instruments and securities issued by foreign issuers, and up to 25% of its Managed Assets in fixed income instruments and securities of emerging market issuers . These foreign instruments may be denominated in US dollars or foreign currencies. Under normal market conditions, the Fund’s investments will primarily consist of high yield bonds and/or secured loans; however, the Fund’s investments in fixed income instruments may also include, to a lesser extent, debentures, notes, commercial paper, investment grade bonds, loans other than secured loans, including loans unsecured and mezzanine loans, and other similar types of debt securities, as well as derivatives relating to or referencing these types of securities and instruments. The Fund will not invest in loan-backed bonds or asset-backed bonds. The Fund will seek to dynamically adjust and hedge its duration based on available market opportunities. Under normal circumstances, the dollar-weighted average duration of the Fund’s portfolio will generally be between zero and seven years.

The Fund is a non-diversified closed-end investment company. The price of shares in the Fund will fluctuate with market conditions and other factors. Closed-end funds often trade at a discount to their net asset value (NAV), which can increase an investor’s risk of loss. When sold, shares may have a market price below net asset value and may be worth less than the original investment when sold.

The Fund’s investments in below investment grade securities (commonly referred to as “high yield securities” or “junk bonds”) may involve a greater risk of non-payment of interest or principal than higher rated bonds. Loans (including loan assignments, loan participations and other lending instruments) involve other risks, including the risk of insolvency of the lending bank or other intermediary. Loans may be unsecured or not fully secured, may have resale restrictions, and sometimes trade rarely in the secondary market.

About Macquarie Asset Management

Macquarie Asset Management is a global asset manager that aims to deliver positive impact to everyone. Recognized by institutions, pension funds, governments and individuals for managing over $579 billion in assets worldwide,1 we provide access to specialist investment expertise across a range of capabilities, including infrastructure, green investments and renewable energy, real estate, agriculture and natural assets, asset finance, private credit, equities, fixed income and multi-asset solutions.

Advisory services are provided by Delaware Management Company, a series of Macquarie Investment Management Business Trust, a registered investment adviser. Macquarie Asset Management is part of Macquarie Group, a diversified financial group providing clients with asset management, financing, banking, advisory and risk and capital solutions for debt, equities and commodities. Founded in 1969, Macquarie Group employs over 18,000 people in 33 markets and is listed on the Australian Securities Exchange. For more information on Macquarie’s Delaware Funds®visit delawarefunds.com or call 800 523-1918.

With the exception of Macquarie Bank Limited ABN 46 008 583 542 (“Macquarie Bank”), any entity of the Macquarie group mentioned in this press release is not an authorized depository institution for the purposes of the Banking Act 1959 (Commonwealth from Australia). The obligations of these other Macquarie group entities do not represent deposits or other liabilities of Macquarie Bank. Macquarie Bank does not guarantee or provide any other assurance with respect to the obligations of such other Macquarie group entities. In addition, if this press release relates to an investment, (a) the investor is subject to investment risk, including delays in repayment and loss of income and invested capital and (b) none of Macquarie Bank or any other entity of the Macquarie group does not guarantee any particular rate of return on or performance of the investment, nor guarantee the return of capital in respect of the investment.

1 As of March 31, 2022

© 2022 Macquarie Management Holdings, Inc.

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