BARINGS GLOBAL SHORT DURATION HIGH YIELD FUND

Proxies will be solicited by mail and may be solicited in person or by telephone or electronically by Officers of the Fund. The expenses connected with the solicitation of these proxies and with any further proxies which may be solicited by the Fund’s Officers in person or by telephone will be borne by the Fund. The Fund has engaged Broadridge to provide Shareholder meeting services, including tabulation and tracking. It is anticipated that the cost of these services will be approximately $40,000 and may increase in the event any vote is contested or increased solicitation efforts are required. The Fund will reimburse banks, brokers, and other persons holding the Fund’s shares registered in their names or in the names of their nominees, for their expenses incurred in sending proxy material to and obtaining proxies from the beneficial owners of such shares, which reimbursement will not be submitted to a vote of the Fund’s Shareholders.

We encourage, but do not require, our Trustees to attend annual meetings of Shareholders. All members of the then-constituted Board of Trustees attended the Fund’s 2024 Annual Meeting of Shareholders.

Only one copy of the Proxy Statement may be mailed to each household, even if more than one person in the household is a Fund Shareholder of record. If a Shareholder needs an additional copy of this Proxy Statement, please contact the Fund at 1-866-399-1516. Shareholders may also access a copy of the Proxy Statement online at https://www.proxyvote.com or on the Fund’s website under Documents at https://www.barings.com/bgh. If any Shareholder does not want the mailing of his or her Proxy Statement to be combined with those for other members of the Shareholder’s household, please contact the Fund at 1-866-399-1516 or contact your financial intermediary.

The Annual Report of the Fund for its fiscal year ended December 31, 2024, including financial statements, a schedule of the Fund’s investments as of such date and other data, was mailed on or about March 1, 2025, to all Shareholders of record. The Fund’s most recent Annual Report is available on the Fund’s website at https://documents.barings.com/docs/barings-global-short-duration-high-yield-fund-annual-report-en-2024.pdf. Shareholders may also request a copy of the Annual Report and the most recent semi-annual report, which will be furnished without charge, by calling (toll-free) the Fund at 1-866-399-1516.