Ivy High Income Opportunities Fund Announces Trustee Elections and Classifications

Ivy High Income Opportunities Fund (NYSE: IVH) (the “Fund”) today announced that Joseph Harroz, Jr., Ann D. Borowiec, Jerome D. Abernathy, Janet L. Yeomans and John A. Fry were elected as Class I Trustees; Sandra A.J. Lawrence, Shawn K. Lytle, Thomas L. Bennett and Thomas K. Whitford were elected as Class II Trustees; and H. Jeffrey Dobbs, Frances A. Sevilla-Sacasa, Christianna Wood and Joseph W. Chow were elected as Class III Trustees, to hold office until the Fund’s 2023, 2021, and 2022 annual meeting, respectively, or until their respective successors are elected and duly qualified.

On December 2, 2020, Waddell & Reed Financial, Inc. (“WDR”), the parent company of Ivy Investment Management Company, the investment adviser of the Ivy Funds Complex, and Macquarie Management Holdings, Inc., the U.S. holding company for Macquarie Group Limited’s U.S. asset management business (“Macquarie”), announced that they had entered into an agreement whereby Macquarie would acquire the investment management business of WDR (the “Transaction”). The Transaction closed on April 30, 2021. The Fund is now part of Delaware Funds by Macquarie (the “Delaware Funds”) and is managed by Delaware Management Company (“DMC”).

DMC utilizes its affiliated sub-advisers Macquarie Investment Management Austria Kapitalanlage AG, Macquarie Investment Management Global Limited, and Macquarie Investment Management Europe Limited to provide portfolio management and trading services, as well as to share investment research and recommendations, with respect to the fixed income mutual funds that DMC advises. Although DMC has principal responsibility for its portion of the Fund, DMC may seek investment advice and recommendations from these affiliated sub-advisers and DMC may also permit an affiliated sub-adviser to execute Fund security trades on behalf of DMC and exercise investment discretion for securities in certain markets where DMC believes it will be beneficial to utilize an affiliated sub-adviser’s specialized market knowledge.

Effective July 1, 2021, the Fund will be renamed Delaware Ivy High Income Opportunities Fund.

Deloitte & Touche LLP, located at 1100 Walnut Street, Suite 3300, Kansas City, Missouri, the Fund's independent registered public accounting firm for its most recent fiscal year, audited the financial statements and financial highlights of the Fund. The Board has selected PricewaterhouseCoopers LLP, located at 2001 Market Street, Philadelphia, PA 19103, to serve as the current independent registered public accounting firm for the Fund.