SABA Announces $0.058 Dividend

Saba Capital Income & 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 September 30, 2026, payable on October 30, 2026 to shareholders of record as of October 9, 2026.

Managed Distribution Plan. 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.