AllianzGI Convertible & Income 2024 Target Term Fund : June 7, 2022

News Release

CERTAIN VIRTUS CLOSED-END FUNDS DECLARE THREE MONTHLY DISTRIBUTIONS:

NCV, NCZ, CBH

HARTFORD, CT, June 7, 2022 -Virtus AllianzGI Convertible & Income Fund(NYSE: NCV),Virtus AllianzGI

Convertible & Income Fund II(NYSE: NCZ), andVirtus AllianzGI Convertible & Income 2024 Target Term Fund

(NYSE: CBH) announced the following distribution declarations on their respective common shares:

Virtus AllianzGI Convertible & Income Fund:
	Ticker	Amount of Distribution	Ex-Date	Record Date		Payable Date
	NCV	$0.0425	July 8, 2022	July 11, 2022		August 1, 2022
	NCV	$0.0425	August 10, 2022	August 11, 2022		September 1, 2022
	NCV	$0.0425	September 9, 2022	September 12, 2022		October 3, 2022
Virtus AllianzGI Convertible & Income Fund II:
	Ticker	Amount of Distribution	Ex-Date	Record Date		Payable Date
	NCZ	$0.0375	July 8, 2022	July 11, 2022		August 1, 2022
	NCZ	$0.0375	August 10, 2022	August 11, 2022		September 1, 2022
	NCZ	$0.0375	September 9, 2022	September 12, 2022		October 3, 2022
Virtus AllianzGI Convertible & Income Fund 2024 Target Term Fund:
	Ticker	Amount of Distribution	Ex-Date	Record Date		Payable Date
	CBH	$0.0460	July 8, 2022	July 11, 2022		August 1, 2022
	CBH	$0.0460	August 10, 2022	August 11, 2022		September 1, 2022
	CBH	$0.0460	September 9, 2022	September 12, 2022		October 3, 2022

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 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.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 Investment Advisers, Inc. is the investment adviser to each fund andAllianz Global Investorsis the subadviser.

For more information on these funds, contact shareholder services at 800-254-5197, by email at [e-mail], or through the closed-endfundsection on the web at 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.

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For Further Information:

Shareholder Services 800-254-5197

[e-mail]