Virtus Stone Harbor Emerging Markets Total Income Fund : August 29, 2022 - Joint Annual Meeting of Shareholders Proxy Statement

VIRTUS STONE HARBOR EMERGING MARKETS INCOME FUND

VIRTUS STONE HARBOR EMERGING MARKETS TOTAL INCOME FUND

101 Munson Street

Greenfield, MA 01301-9668

NOTICE OF JOINT ANNUAL MEETING OF SHAREHOLDERS

To be held on October 11, 2022

Notice is hereby given to the shareholders of Virtus Stone Harbor Emerging Markets Income Fund ("EDF") and Virtus Stone Harbor Emerging Markets Total Income Fund ("EDI"), each a Massachusetts business trust (each, a "Fund" and together, the "Funds"), that the Joint Annual Meeting of Shareholders of the Funds (the "Annual Meeting") will be held on October 11, 2022 at 3:30 p.m. Eastern Time. In light of public health concerns regarding the ongoing coronavirus (COVID-19) pandemic, the Annual Meeting will be held in a virtual meeting format only and will be conducted exclusively by webcast. You will be able to attend and participate in the Annual Meeting online, vote your shares electronically and submit your questions prior to and during the meeting by visiting: www.meetnow.global/MNWCLQ4on October 11, 2022 at 3:30 p.m. Eastern Time and entering the control number found in the shaded box of your proxy card. You will not be able to attend the meeting physically. The Annual Meeting is being held for the following purposes:

1. To elect trustees of each Fund, as follows:

1. Elect Donald C. Burke as a Class II trustee of EDF, by the EDF shareholders ("Proposal 1a");
2. Elect Sarah E. Cogan as a Class II trustee of EDF, by the EDF shareholders ("Proposal 1b");
3. Elect Connie D. McDaniel as a Class II trustee of EDF, by the EDF shareholders ("Proposal 1c");
4. Elect Brian T. Zino as a Class II trustee of EDF, by the EDF shareholders ("Proposal 1d");
5. Elect F. Ford Drummond as a Class III trustee of EDI, by the EDI shareholders ("Proposal 1e");
6. Elect Sidney E. Harris as a Class III trustee of EDI, by the EDI shareholders ("Proposal 1f");
7. Elect Philip R. McLoughlin as a Class III trustee of EDI, by the EDI shareholders ("Proposal 1g"); and

1. Elect Geraldine M. McNamara as a Class III trustee of EDI, by the EDI shareholders ("Proposal 1h")

2. To transact such other business as may properly come before the Annual Meeting or any adjournments, postponements or delays thereof, by the EDF and/or EDI shareholders.

THE BOARD OF TRUSTEES (THE "BOARD") OF EACH FUND, INCLUDING THE INDEPENDENT TRUSTEES, UNANIMOUSLY RECOMMENDS THAT YOU VOTE "FOR" ELECTING EACH TRUSTEE NOMINEE.

The Board has fixed the close of business on August 22, 2022 as the record date for the determination of shareholders entitled to notice of, and to vote at, the Annual Meeting. We urge you to mark, sign, date, and mail the enclosed proxy or proxies in the postage-paid envelope provided, or vote via the Internet, so you will be represented at the Annual Meeting.

By order of the Board,

Jennifer S. Fromm

Secretary

Virtus Stone Harbor Emerging Markets

Income Fund

Virtus Stone Harbor Emerging Markets

Total Income Fund

August 29, 2022

IMPORTANT:

Shareholders are cordially invited to attend the Annual Meeting (virtually). In order to avoid delay and additional expense, and to assure that your shares are represented, please vote as promptly as possible, even if you plan to attend the Annual Meeting (virtually). Please refer to the website indicated on your proxy card for instructions on how to cast your vote. To vote by mail, please complete, sign, date, and mail the enclosed proxy card. No postage is required if you use the accompanying envelope to mail the proxy card in the United States. The proxy is revocable and will not affect your right to vote in person (virtually) if you attend the Annual Meeting and elect to vote in person (virtually).

Instructions for signing proxy cards

The following general guidelines for signing proxy cards may be of assistance to you and avoid the time and expense to the Funds of validating your vote if you fail to sign your proxy card(s) properly.

1. Individual accounts: Sign your name exactly as it appears in the registration on the proxy card.
2. Joint accounts: Either party may sign, but the name of the party signing should conform exactly to the name shown in the registration on the proxy card.
3. All other accounts: The capacity of the individual signing the proxy card should be indicated unless it is reflected in the form of registration. For example:

	Registrations		Valid Signature
Corporate Accounts	(1) ABC Corp	(1)	ABC Corp
	(2)	ABC Corp	(2)	John Doe, Treasurer
	(3)	ABC Corp. c/o John Doe, Treasurer	(3)	John Doe
	(4)	ABC Corp. Profit Sharing Plan	(4)	John Doe, Trustee
Partnership Accounts	(1) The XYZ partnership	(1)	Jane B. Smith, Partner
	(2)	Smith and Jones, limited partnership	(2)	Jane B. Smith, General
				Partner
Trust Accounts	(1) ABC Trust	(1)	John Doe, Trustee
	(2)	Jane B. Doe, Trustee u/t/d 12/28/78	(2)	Jane B. Doe
Custodial or Estate	(1) John B. Smith, Cust. f/b/o John B.	(1)	John B. Smith
Accounts	Smith, Jr. UGMA
	(2)	Estate of John B. Smith	(2)	John B. Smith, Jr.,
				Executor

Instruction/Q&A Section

Q: How can I attend the Annual Meeting?

1. The Annual Meeting will be a completely virtual meeting of shareholders, which will be conducted exclusively by webcast. You are entitled to participate in the Annual Meeting only if you were a shareholder of the Fund as of the close of business on the Record Date, or if you hold a valid proxy for the Annual Meeting. No physical meeting will be held.
   You will be able to attend the Annual Meeting online and submit
   your questions during the meeting by visiting https://meetnow.global/MNWCLQ4. You also will be able to vote your shares online by attending the Annual Meeting by webcast.
   To participate in the Annual Meeting, you will need to log on using the control number from your proxy card or meeting notice. The control number can be found in the shaded box.
   If you hold your shares through an intermediary, such as a bank or broker, you must register in advance using the instructions below.

The online meeting will begin promptly at 3:30 p.m. Eastern Time. We encourage you to access the meeting prior to the start time leaving ample time for the check in. Please follow the access instructions as outlined in this proxy statement.

1. How do I register to attend the Annual Meeting virtually on the Internet?

1. If you are a registered shareholder, you do not need to register to attend the Annual Meeting virtually on the Internet. If you hold your shares through an intermediary, such as a bank or broker, you must register in advance to attend the Annual Meeting virtually on the Internet.
   To register to attend the Annual Meeting online by webcast you must submit proof of your proxy power (legal proxy) reflecting your Fund holdings along with your name and email address to Computershare. You must contact the bank or broker who holds your shares to obtain your legal proxy. Requests for registration must be labeled as "Legal Proxy" and be received no later than 5:00 p.m. Eastern Time on October 6, 2022.
   You will receive a confirmation of your registration by email after we receive your legal proxy.
   Requests for registration should be directed to us by emailing an image of your legal proxy, to [e-mail].