Voya Investments LLC

Fees and Compensation
VIL provides advisory and administrative services to the Funds pursuant to written contracts in conformity with Section 15 of the
Investment Company Act of 1940, as amended (the “1940 Act”).

The management fee schedule for the Funds is a percentage of average daily net assets with respect to open-end funds and is a
percentage of managed assets with respect to closed-end funds under VIL’s management ranging from 0.15% to 1.25% per
annum. The Funds are generally billed monthly in arrears. VIL sometimes will contractually agree to waive all or a portion of its
fees. VIL sometimes will also waive and/or reimburse costs and operating expenses of a Fund so that the Fund’s total operating
expenses do not exceed certain set limitations. Any such waivers or reimbursements are disclosed in the relevant prospectus,
where and to the extent required by the applicable SEC forms.

COMPENSATION FOR THE SALE OF SECURITIES AND INVESTMENT PRODUCTS

Certain personnel of VIL are registered representatives of Voya Investments Distributors, LLC (“VID”), an affiliated broker- dealer.
These registered representatives of VIL, who actively engage in selling activities on behalf of VID and the Funds, could potentially
receive compensation in connection with the sale of registered investment companies managed by VIL or its affiliates; these fees
typically do not offset management fees. Where an individual receives compensation of this nature, there is the potential for a conflict
of interest to arise because he or she has an incentive to recommend a product based on potential revenues rather than the client’s
needs. In the case of registered investment companies, Financial Industry Regulatory Authority (“FINRA”) suitability and other
rules generally govern the sales activities.

Types of Clients
VIL serves as an investment adviser for certain open- and closed-end registered investment companies. The minimum investment
amount required for an investment is described in the applicable prospectus or other applicable documents. VIL typically
reserves the right to waive the minimum investment requirements.