News Release

CERTAIN VIRTUS CLOSED-END FUNDS DECLARE MONTHLY DISTRIBUTIONS:

AIO, NCV, NCZ, CBH, and ACV

HARTFORD, CT, October 1, 2021 -Virtus AllianzGI Artificial Intelligence & Technology Opportunities Fund(NYSE: AIO),Virtus AllianzGI Convertible & Income Fund(NYSE: NCV),Virtus AllianzGI Convertible & Income Fund II(NYSE: NCZ),Virtus AllianzGI Convertible & Income 2024 Target Term Fund(NYSE: CBH), andVirtus AllianzGI Diversified Income & Convertible Fund(NYSE: ACV) announced the following distribution declarations on their respective common shares:

Distribution Per

Fund

Common Share

Virtus AllianzGI Artificial Intelligence & Technology Opportunities Fund

$0.1250

Virtus AllianzGI Convertible & Income Fund

$0.0425

Virtus AllianzGI Convertible & Income Fund II

$0.0375

Virtus AllianzGI Convertible & Income 2024 Target Term Fund

$0.0460

Virtus AllianzGI Diversified Income & Convertible Fund

$0.1670

The distributions, declared October 1, 2021, will be payable on November 1, 2021 to shareholders of record on October 12, 2021 with an ex-dividend date of October 8, 2021.

The amounts of distributions reported in this notice are estimates only and are not being provided for tax reporting purposes. The actual amounts and sources of the distributions will depend on the fund's investment experience during the remainder of its fiscal year and may be subject to changes based on tax regulations. The fund or your broker will send shareholders a Form 1099-DIV for the calendar year that will tell shareholders what distributions to report for federal income tax purposes.

About the Funds

Virtus AllianzGI Artificial Intelligence & Technology Opportunities Fund's investment objective is to provide total return through a combination of current income, current gains and long-termcapital appreciation.Virtus AllianzGI Convertible & Income FundandVirtus AllianzGI Convertible & Income Fund IIeach have an investment objective to provide total return through a combination of capital appreciation and high current income with income as a secondary objective.Virtus AllianzGI Convertible & Income 2024 Target Term Fund's investment objectives are to provide a high level of income and to return at least $9.835 per common share (the original net asset value per common share of beneficial interest before deducting offering costs of $0.02 per share) to holders of common shares on or about September 1, 2024.Virtus AllianzGI Diversified Income & Convertible

Fund's investment objective is to provide total return through a combination of current income and capital appreciation, while seeking to provide downside protection against capital loss.

Virtus Investment Advisers, Inc. became the investment adviser of each fund, other than AIO, effective February 1, 2021 and of AIO effective February 26, 2021. Allianz Global Investorscontinues to manage each fund in a subadvisory capacity.

For more information on these funds, contact shareholder services at 800-254-5197, by email at closedendfunds@virtus.com, or through the closed-endfundsection on the web at www.virtus.com.

Fund Risks

An investment in a fund is subject to risk, including the risk of possible loss of principal. A fund's shares may be worth less upon their sale than what an investor paid for them. Shares of closed-end funds may trade at a premium or discount to their net asset value. For more information about each fund's investment objective and risks, please see the fund's annual report. A copy of the fund's most recent annual report may be obtained free of charge by contacting "Shareholder Services" as set forth at the end of this press release.

About Allianz Global Investors

Allianz Global Investorsor AllianzGI is a leading active asset manager with over 750 investment professionals in 25 offices worldwide and manages assets for individuals, families and institutions. The investment team has extensive experience managing closed-end funds and a differentiated, multi-asset approach based on fundamental research designed to dynamically allocate across convertible securities and equities.

About Virtus Investment Partners

Virtus Investment Partners (NASDAQ: VRTS) is a distinctive partnership of boutique investment managers singularly committed to the long-term success of individual and institutional investors. The company provides investment management products and services through its affiliated managers and select subadvisers, each with a distinct investment style, autonomous investment process, and individual brand. For more information, visit www.virtus.com.

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For Further Information:

Shareholder Services 800-254-5197

closedendfunds@virtus.com

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Disclaimer

Virtus AllianzGi Convertible & Income 2024 Target Term Fund published this content on 01 October 2021 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 01 October 2021 20:52:02 UTC.