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.

NEW YORK–(BUSINESS WIRE)–Allianz Global Investors ("AllianzGI"), one of the world's leading active investment managers, announced today that the AllianzGI Artificial Intelligence & Technology Opportunities Fund (the "Fund") has completed its initial public offering. The Fund raised $615,000,000 in its common share offering, excluding any exercise of the underwriters' option to purchase additional common shares. The Fund commenced trading on the New York Stock Exchange ("NYSE") on October 29, 2019, under the ticker symbol "AIO." The Fund is a diversified, limited-term, closed-end fund whose investment objective is to provide total return through a combination of current income, current gains and long-term capital appreciation. The Fund has a limited term feature pursuant to which it intends to terminate on or about October 29, 2031 (the "Dissolution Date").