<SEC-DOCUMENT>0000940394-21-000636.txt : 20210316
<SEC-HEADER>0000940394-21-000636.hdr.sgml : 20210316
<ACCEPTANCE-DATETIME>20210316162437
ACCESSION NUMBER:		0000940394-21-000636
CONFORMED SUBMISSION TYPE:	DEFR14A
PUBLIC DOCUMENT COUNT:		1
FILED AS OF DATE:		20210316
DATE AS OF CHANGE:		20210316

FILER:

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			Eaton Vance Floating-Rate Income Trust
		CENTRAL INDEX KEY:			0001288992
		IRS NUMBER:				000000000
		FISCAL YEAR END:			0531

	FILING VALUES:
		FORM TYPE:		DEFR14A
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	811-21574
		FILM NUMBER:		21746048

	BUSINESS ADDRESS:	
		STREET 1:		TWO INTERNATIONAL PLACE
		CITY:			BOSTON
		STATE:			MA
		ZIP:			02110
		BUSINESS PHONE:		617-482-8260

	MAIL ADDRESS:	
		STREET 1:		TWO INTERNATIONAL PLACE
		CITY:			BOSTON
		STATE:			MA
		ZIP:			02110

FILER:

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			EATON VANCE NEW YORK MUNICIPAL INCOME TRUST
		CENTRAL INDEX KEY:			0001074685
		IRS NUMBER:				046880051
		FISCAL YEAR END:			1130

	FILING VALUES:
		FORM TYPE:		DEFR14A
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	811-09145
		FILM NUMBER:		21746049

	BUSINESS ADDRESS:	
		STREET 1:		TWO INTERNATIONAL PLACE
		CITY:			BOSTON
		STATE:			MA
		ZIP:			02110
		BUSINESS PHONE:		617-482-8260

	MAIL ADDRESS:	
		STREET 1:		TWO INTERNATIONAL PLACE
		CITY:			BOSTON
		STATE:			MA
		ZIP:			02110

FILER:

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			EATON VANCE SENIOR FLOATING RATE TRUST
		CENTRAL INDEX KEY:			0001258623
		IRS NUMBER:				000000000
		FISCAL YEAR END:			1031

	FILING VALUES:
		FORM TYPE:		DEFR14A
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	811-21411
		FILM NUMBER:		21746050

	BUSINESS ADDRESS:	
		STREET 1:		TWO INTERNATIONAL PLACE
		CITY:			BOSTON
		STATE:			MA
		ZIP:			02110
		BUSINESS PHONE:		617-482-8260

	MAIL ADDRESS:	
		STREET 1:		TWO INTERNATIONAL PLACE
		CITY:			BOSTON
		STATE:			MA
		ZIP:			02110

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	EATON VANCE SENIOR FLOATING RATE FUND
		DATE OF NAME CHANGE:	20030806
</SEC-HEADER>
<DOCUMENT>
<TYPE>DEFR14A
<SEQUENCE>1
<FILENAME>eftefrevyproxysupp.htm
<DESCRIPTION>EFT, EFR, EVY SUPPLEMENT TO DEFINITIVE PROXY STATEMENT DTD 3-16-2021
<TEXT>
<HTML>
<HEAD>
<TITLE></TITLE>
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<BODY>


<P STYLE="font: 9.5pt Times New Roman, Times, Serif; margin: 0; text-align: center"><FONT STYLE="letter-spacing: -0.15pt">(Rule
14a-101)</FONT></P>

<P STYLE="font: 9.5pt Times New Roman, Times, Serif; margin: 6pt 0 0; text-align: center"><FONT STYLE="letter-spacing: -0.15pt">INFORMATION
REQUIRED IN PROXY STATEMENT</FONT></P>

<P STYLE="font: 9.5pt Times New Roman, Times, Serif; margin: 0; text-align: center"><FONT STYLE="letter-spacing: -0.15pt">SCHEDULE
14A INFORMATION</FONT></P>

<P STYLE="font: 9.5pt Times New Roman, Times, Serif; margin: 6pt 0 0; text-align: center"><FONT STYLE="letter-spacing: -0.15pt">Proxy
Statement Pursuant to Section 14(a) of the</FONT></P>

<P STYLE="font: 9.5pt Times New Roman, Times, Serif; margin: 0; text-align: center"><FONT STYLE="letter-spacing: -0.15pt">Securities
Exchange Act of 1934 (Amendment No. )</FONT></P>

<P STYLE="font: 9.5pt Times New Roman, Times, Serif; margin: 0"><FONT STYLE="letter-spacing: -0.15pt">Filed by the Registrant [X]</FONT></P>

<P STYLE="font: 9.5pt Times New Roman, Times, Serif; margin: 0"><FONT STYLE="letter-spacing: -0.15pt">Filed by a Party other than
the Registrant [ ]</FONT></P>

<P STYLE="font: 9.5pt Times New Roman, Times, Serif; margin: 6pt 0 0"><FONT STYLE="letter-spacing: -0.15pt">Check the appropriate
box:</FONT></P>

<P STYLE="font: 9.5pt Times New Roman, Times, Serif; margin: 0"><FONT STYLE="letter-spacing: -0.15pt">[ ] Preliminary Proxy Statement</FONT></P>

<P STYLE="font: 9.5pt Times New Roman, Times, Serif; margin: 0"><FONT STYLE="letter-spacing: -0.15pt">[ ] Confidential, For Use
of the Commission Only (as permitted by Rule 14a-6(e)(2))</FONT></P>

<P STYLE="font: 9.5pt Times New Roman, Times, Serif; margin: 0"><FONT STYLE="letter-spacing: -0.15pt">[X] Supplement to Definitive
Proxy Statement</FONT></P>

<P STYLE="font: 9.5pt Times New Roman, Times, Serif; margin: 0"><FONT STYLE="letter-spacing: -0.15pt">[ ] Definitive Proxy Statement</FONT></P>

<P STYLE="font: 9.5pt Times New Roman, Times, Serif; margin: 0"><FONT STYLE="letter-spacing: -0.15pt">[ ] Definitive Additional
Materials</FONT></P>

<P STYLE="font: 9.5pt Times New Roman, Times, Serif; margin: 0"><FONT STYLE="letter-spacing: -0.15pt">[ ] Soliciting Material Pursuant
to Section 240.14a-12</FONT></P>

<P STYLE="font: 9.5pt Times New Roman, Times, Serif; margin: 6pt 0 0"><FONT STYLE="letter-spacing: -0.15pt">-------------------------------------------------------------------------------------------------------------------------------------------------------------------------------</FONT></P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; border-collapse: collapse">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 100%; padding-right: 5.4pt; padding-left: 5.4pt">
        <P STYLE="font: 9.5pt Times New Roman, Times, Serif; margin: 0; text-align: center"><FONT STYLE="letter-spacing: -0.15pt"><U>Eaton
        Vance Floating-Rate Income Trust</U></FONT></P>
        <P STYLE="font: 9.5pt Times New Roman, Times, Serif; margin: 0; text-align: center"><FONT STYLE="letter-spacing: -0.15pt"><U>Eaton
        Vance Senior Floating-Rate Trust</U></FONT></P>
        <P STYLE="font: 9.5pt Times New Roman, Times, Serif; margin: 0; text-align: center"><FONT STYLE="letter-spacing: -0.15pt"><U>Eaton
        Vance New York Municipal Income Trust</U></FONT></P>
        <P STYLE="font: 9.5pt Times New Roman, Times, Serif; margin: 0; text-align: center"><FONT STYLE="letter-spacing: -0.15pt">(Name
        of Registrant as Specified in Its Charter)</FONT></P></TD></TR>
</TABLE>
<P STYLE="font: 9.5pt Times New Roman, Times, Serif; margin: 0; text-align: center"><FONT STYLE="letter-spacing: -0.15pt">-------------------------------------------------------------------------------------------------------------------------------------------------------------------------</FONT></P>

<P STYLE="font: 9.5pt Times New Roman, Times, Serif; margin: 0; text-align: center"><FONT STYLE="letter-spacing: -0.15pt">(Name
of Person(s) Filing Proxy Statement, if Other Than the Registrant)</FONT></P>

<P STYLE="font: 9.5pt Times New Roman, Times, Serif; margin: 6pt 0 0"><FONT STYLE="letter-spacing: -0.15pt">Payment of Filing Fee
(Check the appropriate box):</FONT></P>

<P STYLE="font: 9.5pt Times New Roman, Times, Serif; margin: 0"><FONT STYLE="letter-spacing: -0.15pt">[X] No fee required.</FONT></P>

<P STYLE="font: 9.5pt Times New Roman, Times, Serif; margin: 0"><FONT STYLE="letter-spacing: -0.15pt">[ ] Fee computed on table
below per Exchange Act Rules 14a-6(i) (1) and 0-11.</FONT></P>

<P STYLE="font: 9.5pt Times New Roman, Times, Serif; margin: 6pt 0 0"><FONT STYLE="letter-spacing: -0.15pt">(1) Title of each class
of securities to which transaction applies:</FONT></P>

<P STYLE="font: 9.5pt Times New Roman, Times, Serif; margin: 0"><FONT STYLE="letter-spacing: -0.15pt">------------------------------------------------------------------------------------------------------------------------------------------------------------------------------</FONT></P>

<P STYLE="font: 9.5pt Times New Roman, Times, Serif; margin: 6pt 0 0"><FONT STYLE="letter-spacing: -0.15pt">(2) Aggregate number
of securities to which transaction applies:</FONT></P>

<P STYLE="font: 9.5pt Times New Roman, Times, Serif; margin: 0"><FONT STYLE="letter-spacing: -0.15pt">------------------------------------------------------------------------------------------------------------------------------------------------------------------------------</FONT></P>

<P STYLE="font: 9.5pt Times New Roman, Times, Serif; margin: 6pt 0 0; letter-spacing: -0.15pt">(3) Per unit price or other underlying
value of transaction computed pursuant to Exchange Act Rule 0-11 (set forth the amount on which the filing fee is calculated and
state how it was determined):</P>

<P STYLE="font: 9.5pt Times New Roman, Times, Serif; margin: 0"><FONT STYLE="letter-spacing: -0.15pt">------------------------------------------------------------------------------------------------------------------------------------------------------------------------------</FONT></P>

<P STYLE="font: 9.5pt Times New Roman, Times, Serif; margin: 6pt 0 0"><FONT STYLE="letter-spacing: -0.15pt">(4) Proposed maximum
aggregate value of transaction:</FONT></P>

<P STYLE="font: 9.5pt Times New Roman, Times, Serif; margin: 0"><FONT STYLE="letter-spacing: -0.15pt">------------------------------------------------------------------------------------------------------------------------------------------------------------------------------</FONT></P>

<P STYLE="font: 9.5pt Times New Roman, Times, Serif; margin: 6pt 0 0"><FONT STYLE="letter-spacing: -0.15pt">(5) Total fee paid:</FONT></P>

<P STYLE="font: 9.5pt Times New Roman, Times, Serif; margin: 0"><FONT STYLE="letter-spacing: -0.15pt">------------------------------------------------------------------------------------------------------------------------------------------------------------------------------</FONT></P>

<P STYLE="font: 9.5pt Times New Roman, Times, Serif; margin: 6pt 0 0"><FONT STYLE="letter-spacing: -0.15pt">[ ] Fee paid previously
with preliminary materials. </FONT></P>

<P STYLE="font: 9.5pt Times New Roman, Times, Serif; margin: 0"><FONT STYLE="letter-spacing: -0.15pt">------------------------------------------------------------------------------------------------------------------------------------------------------------------------------</FONT></P>

<P STYLE="font: 9.5pt Times New Roman, Times, Serif; margin: 6pt 0 0"><FONT STYLE="letter-spacing: -0.15pt">[ ] Check box if any
part of the fee is offset as provided by Exchange Act Rule 0-11(a)(2) and identify the filing for which the offsetting fee was
paid previously. Identify the previous filing by registration statement number, or the Form or Schedule and the date of its filing.</FONT></P>

<P STYLE="font: 9.5pt Times New Roman, Times, Serif; margin: 6pt 0 0"><FONT STYLE="letter-spacing: -0.15pt">(1) Amount previously
paid:</FONT></P>

<P STYLE="font: 9.5pt Times New Roman, Times, Serif; margin: 0"><FONT STYLE="letter-spacing: -0.15pt">------------------------------------------------------------------------------------------------------------------------------------------------------------------------------</FONT></P>

<P STYLE="font: 9.5pt Times New Roman, Times, Serif; margin: 6pt 0 0"><FONT STYLE="letter-spacing: -0.15pt">(2) Form, Schedule
or Registration Statement no.:</FONT></P>

<P STYLE="font: 9.5pt Times New Roman, Times, Serif; margin: 0"><FONT STYLE="letter-spacing: -0.15pt">------------------------------------------------------------------------------------------------------------------------------------------------------------------------------</FONT></P>

<P STYLE="font: 9.5pt Times New Roman, Times, Serif; margin: 6pt 0 0"><FONT STYLE="letter-spacing: -0.15pt">(3) Filing Party:</FONT></P>

<P STYLE="font: 9.5pt Times New Roman, Times, Serif; margin: 0"><FONT STYLE="letter-spacing: -0.15pt">------------------------------------------------------------------------------------------------------------------------------------------------------------------------------</FONT></P>

<P STYLE="font: 9.5pt Times New Roman, Times, Serif; margin: 6pt 0 0"><FONT STYLE="letter-spacing: -0.15pt">(4) Date Filed: </FONT></P>

<P STYLE="font: 9.5pt Times New Roman, Times, Serif; margin: 0"><FONT STYLE="letter-spacing: -0.15pt">------------------------------------------------------------------------------------------------------------------------------------------------------------------------------</FONT></P>


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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center; color: red"><B>***IMPORTANT INFORMATION FOR
SHAREHOLDERS***</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>EATON VANCE FLOATING-RATE INCOME TRUST (EFT)</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>EATON VANCE SENIOR FLOATING-RATE TRUST (EFR)</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>EATON VANCE NEW YORK MUNICIPAL INCOME
TRUST (EVY) </B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>(each, a &ldquo;Fund&rdquo; and collectively,
the &ldquo;Funds&rdquo;)</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>Supplement to Proxy Statement Dated November
25, 2020</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>Below is important information regarding
recent actions taken by the Funds&rsquo; Boards of Trustees (the &ldquo;Board&rdquo;):</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><B><I>Conditional Tender Offers.</I></B> The
Board has authorized a conditional cash tender offer for up to 25% of each Fund&rsquo;s outstanding common shares at a price per
share equal to 99% of the Fund&rsquo;s net asset value per share as of the close of regular trading on the New York Stock Exchange
on the date the tender offer expires. The tender offer is conditioned on shareholder approval of the relevant Fund&rsquo;s new
investment advisory agreement with Eaton Vance Management, the Funds&rsquo; investment adviser (each, a &ldquo;New Agreement&rdquo;),
at the upcoming joint special meeting of shareholders to be held on March 19, 2021 or an adjournment thereof (the &ldquo;Meeting&rdquo;).</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><B><I>Conditional Distribution Rate Increase
for EFT and EFR.</I></B> The Board also authorized a regular monthly distribution increase on common shares of EFT and EFR to $0.0775
and $0.0813 per share, respectively, representing an increase of approximately 25 percent from the March 2021 distributions, if
shareholders approve the relevant New Agreement at the Meeting. Each distribution increase will commence with the first monthly
distribution announced following shareholder approval of the relevant Fund&rsquo;s New Agreement. By raising the Funds&rsquo; regular
monthly distributions, the Board seeks to enhance long-term shareholder value.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">The Proxy Statement describes each New Agreement
and provides other related information. We encourage you to carefully read the Proxy Statement in conjunction with this Supplement.&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; border-collapse: collapse">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 100%; border: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt">
        <P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>The Board unanimously recommends that Fund
        shareholders vote &ldquo;FOR&rdquo; each New Agreement on the <U>WHITE</U> proxy card<FONT STYLE="font-size: 10pt">.</FONT></B></P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>&nbsp;</B></P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>HOW DO I VOTE?</B></P>
        <P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0 0 0 0.5in; text-indent: -0.25in"><FONT STYLE="font-family: Symbol; font-size: 10pt">&#183;</FONT><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 7pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
        </FONT><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>By Telephone: </B>Call (888) 227-9349 (toll-free)
        and follow the recorded instructions or call (866) 416-0552 (toll-free) to speak to a live representative at the Fund&rsquo;s proxy
        solicitor, AST Fund Solutions, LLC (&ldquo;AST&rdquo;);</FONT></P>
        <P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0 0 0 0.5in; text-indent: -0.25in"><FONT STYLE="font-family: Symbol; font-size: 10pt">&#183;</FONT><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 7pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
        </FONT><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>By Internet:</B> Go to the website on the enclosed&nbsp;<B><U>WHITE</U></B>&nbsp;proxy
        card and follow the instructions; </FONT></P>
        <P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0 0 0 0.5in; text-indent: -0.25in"><FONT STYLE="font-family: Symbol; font-size: 10pt">&#183;</FONT><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 7pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
        </FONT><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>By Mail:</B> Mark, sign, date and mail the
        enclosed&nbsp;<B><U>WHITE</U></B>&nbsp;proxy card in the enclosed postage-paid envelope; or</FONT></P>
        <P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0 0 0 0.5in; text-indent: -0.25in"><FONT STYLE="font-family: Symbol; font-size: 10pt">&#183;</FONT><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 7pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
        </FONT><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>At the Meeting:</B> Please contact AST at attendameeting@astfinancial.com
        with any questions regarding access to the Meeting.</FONT></P>
        <P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>&nbsp;</B></P>
        <P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>We urge you to vote <U>now</U> to ensure
        that your shares are represented at the Meeting!</B></P>
        <P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>&nbsp;</B></P>
        <P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>Fund shareholders who have already voted
        do not need to take further action.</B></P></TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">Additional terms and conditions of each tender
offer will be set forth in the associated Fund offering materials and press releases, as applicable. If the number of shares tendered
in a tender offer exceeds the maximum amount of the tender offer, the Fund will purchase shares from tendering shareholders on
a pro rata basis (disregarding fractional shares). Accordingly, there is no assurance that a Fund will purchase all of a shareholder's
tendered common shares in a tender offer. A Fund may determine not to accept shares tendered in the tender offer under various
circumstances, as will be set forth in the offering materials.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">This announcement is not a recommendation,
an offer to purchase or a solicitation of an offer to sell shares of a Fund. The Funds have not commenced the conditional tender
offers described herein. Each tender offer will be made only if the condition described above is satisfied, and only by an offer
to purchase, a related letter of transmittal and other documents filed with the U.S. Securities and Exchange Commission (&ldquo;SEC&rdquo;)
as exhibits to a tender offer statement on Schedule TO, with all such documents available on the SEC&rsquo;s website at www.sec.gov.
For a tender offer, the Fund will also make available to shareholders without charge the offer to purchase
and the letter of transmittal. Shareholders should read these documents carefully, as they would contain important information
about the tender offer.</P>


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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">Fund distributions may include amounts from
sources other than net investment income. When that is estimated to be the case, shareholders will be notified on a monthly basis.
The final determination of the tax character of Fund distributions will occur after the end of each calendar year, at which time
that determination will be reported to shareholders. For its fiscal year beginning
on June 1, 2020 through February 28, 2021, EFT has distributed $0.549 per share, which is estimated to be sourced from ordinary
income. If EFT had adopted the conditional distribution rate increase on June 1, 2020 and the condition described above had been
satisfied, its distributions for the fiscal year to date through February 28, 2021 on a pro forma basis would have been approximately
$0.698 per share, an estimated 79% percent of which would have been sourced from ordinary income and an estimated 21% from return
of capital. For its fiscal year beginning on November 1, 2020 through February 28, 2021,
EFR has distributed $0.26 per share, which is estimated to be sourced from ordinary income. If EFR had adopted the conditional
distribution rate increase on November 1, 2020 and the condition described above had been satisfied, its distributions for the
fiscal year to date through February 28, 2021 on a pro forma basis would have been approximately $0.325 per share, an estimated
80% of which would have been sourced from ordinary income and an estimated 20% from return of capital. </P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">Fund distributions in any period may be more
or less than the net return earned by the Fund on investments, and therefore should not be used as a measure of performance or
confused with &ldquo;yield&rdquo; or &ldquo;income.&rdquo; Distributions in excess of Fund returns will cause a Fund&rsquo;s net
assets and net asset value per share to decline. Investors should not draw any conclusions about a Fund&rsquo;s investment performance
from the amount of its distributions. Fund distributions may be affected by numerous factors, including changes in Fund performance,
the cost of leverage, portfolio holdings, realized and projected returns, and other factors. There can be no assurance that future
Board action, an unanticipated change in market conditions or other unforeseen factors will not result in a change in the Fund&rsquo;s
distributions at a future time.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>THIS INFORMATION SHOULD BE READ IN CONJUNCTION
WITH THE PROXY STATEMENT.</B></P>


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