SABA Announces Notification of Sources of Distributions Page 1

Saba Capital Income & Opportunities Fund II (NYSE: SABA) (the “Fund”), a registered closed-end investment company listed on the New York Stock Exchange, informs shareholders, prospective shareholders and third parties of the sources of distributions pursuant to Section 19(a) of the Investment Company Act of 1940 (the “Investment Company Act”).

IMPORTANT INFORMATION ABOUT MONTHLY DISTRIBUTION