Today, Delaware Investments National Municipal Income Fund (the “Fund”), a New York Stock Exchange American-listed closed-end fund trading under the symbol “VFL”, announced that the new investment management agreement with abrdn Inc. was executed on July 7, 2023 at approximately 4:00 pm ET. Fund shareholders approved the election of four new trustees and the new investment management agreement with abrdn Inc. at a Special Meeting of Shareholders held on March 8, 2023. The four new trustees took office today upon the resignation of the previous trustees and abrdn Inc. replaced Delaware Management Company, a series of Macquarie Investment Management Business Trust, as the Fund’s investment adviser.

Please visit www.abrdnvfl.com for further information or contact abrdn’s Investor Relations at 800 522-5465 (toll-free) or Investor.Relations@abrdn.com.

Other than Macquarie Bank Limited ABN 46 008 583 542 (“Macquarie Bank”), any Macquarie Group entity noted in this press release is not an authorised deposit-taking institution for the purposes of the Banking Act 1959 (Commonwealth of Australia). The obligations of these other Macquarie Group entities do not represent deposits or other liabilities of Macquarie Bank. Macquarie Bank does not guarantee or otherwise provide assurance in respect of the obligations of these other Macquarie Group entities. In addition, if this press release relates to an investment, (a) the investor is subject to investment risk including possible delays in repayment and loss of income and principal invested and (b) none of Macquarie Bank or any other Macquarie Group entity guarantees any particular rate of return on or the performance of the investment, nor do they guarantee repayment of capital in respect of the investment.

© 2023 Macquarie Management Holdings, Inc.

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