Board Approves Liquidation of Voya International High Dividend Equity Income Fund

The Board of Trustees ("the Board") of Voya International High Dividend Equity Income Fund (the "Fund") IID has approved a Plan of Liquidation and Termination for the Fund. The Plan of Liquidation and Termination is expected to take effect on or about March 31, 2021.

Subsequent to the effectiveness of the Fund's Plan of Liquidation and Termination, the Fund will determine and pay, or set aside in cash or cash equivalents, in an amount that it estimates is necessary to discharge any unpaid liabilities and obligations of the Fund, and make one or more liquidating distributions to the Fund's common shareholders. Leading up to the final distribution date, as the Fund begins to transition its portfolio in anticipation of making its liquidating distributions, the Fund may deviate from its investment objectives and policies.

The Fund has fixed the close of business on March 31, 2021 as the effective date for determining the common shareholders of the Fund entitled to receive liquidating distributions. As of that time, the share transfer books of the Fund will be closed. The trading of the Fund's shares on the New York Stock Exchange will be suspended effective before the open of business on April 1, 2021. The Fund's liquidating distributions will be paid in cash. The Fund expects to make one or more liquidating or other distributions to common stockholders on or about April 5, 2021. Additional details with respect to the Fund's liquidation will be provided as they become available.

The Fund is a closed-end U.S.-registered management investment company advised by Voya Investments, LLC and sub-advised by Voya Investment Management Co. LLC.

About Voya^® Investment Management

A leading, active asset management firm, Voya Investment Management manages, as of September 30, 2020, approximately $247 billion for affiliated and external institutions as well as individual investors. With more than 40 years of history in asset management, Voya Investment Management has the experience and resources to provide clients with investment solutions with an emphasis on equities, fixed income, and multi-asset strategies and solutions. Voya Investment Management was named in 2015, 2016, 2017, 2018, 2019, and 2020 as a "Best Places to Work" by Pensions and Investments magazine. For more information, visit voyainvestments.com. Follow Voya Investment Management on Twitter @VoyaInvestments.

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