Virtus AllianzGI Artificial Intelligence & Technology Opportunities Fund Institutes Managed Distribution Plan, Increases Monthly Distribution to $0.15/Share

Virtus AllianzGI Artificial Intelligence & Technology Opportunities Fund (NYSE: AIO), a diversified closed-end fund, today announced that it will institute a managed distribution plan effective with the distribution payable February 1, 2022. Coincident with the adoption of the plan, the Fund will raise its monthly distribution to $0.15 per share, a 20% increase from the distribution of $0.125 per share payable January 3, 2022. The increased distribution represents an annualized distribution rate of 6.7% based on the closing market price of $26.88 on December 16, 2021. The Fund is undertaking these actions as part of its ongoing efforts to enhance shareholder value by both seeking to provide a more attractive distribution rate and furthering its efforts to reduce the current discount to net asset value at which its shares currently trade. The Board also approved a change in the Fund's fiscal year end from February 28 to January 31, effective January 31, 2022.