Saba Capital Income & Opportunities Fund II

Andrew Kellerman joined Saba Capital Management, L.P. in April 2018 and serves as Partner, President, and Head of Business Development and Investor Relations. He currently serves as the Chairman of the Board of Trustees for both Saba Capital Income & Opportunities Fund (ticker: BRW) and Saba Capital Income & Opportunities Fund II (ticker: SABA). Previously, Mr. Kellerman was a Managing Director and Head of Distribution for the Private Institutional Client group at Alex. Brown Raymond James, where he oversaw the placement of Private Funds and Private Direct Investments. Prior to his role at Alex. Brown Raymond James, he spent over a decade at Deutsche Bank, from 2002 to 2014, where he was a Managing Director in Credit Derivatives and held leadership positions, including U.S. Head of Synthetic CDO Sales and Head of Hedge Fund Credit Sales. Mr. Kellerman's diverse experience also includes roles at FleetBoston Financial in Singapore, where he was a Director in Asia Structured Finance, and at Presidio Capital, also in Singapore, where he served as Director of Structured Finance. Earlier in his career, he worked at First National Bank of Chicago as VP and Head of EM Options Trading. Mr. Kellerman holds a Bachelor of Science in International Relations from Syracuse University.

We believe Mr. Kellerman’s qualifications to continue to serve on the Board include his senior level distribution and finance experience. The Board also determined that having Mr. Kellerman, a senior executive of the Adviser, serve as a Trustee benefits shareholders by facilitating communication between the Independent Trustees and senior management of the Adviser and by assisting efforts to further align the interests of the Adviser with those of the shareholders.

For additional information on the Nominees, please seeAppendix A. No Nominee is a party adverse to the Fund or any of its affiliates in any material pending legal proceeding, nor does any Nominee have an interest materially adverse to the Fund.

If any or all of the Nominees become unavailable to serve as Trustee due to events not now known or anticipated, the persons named as proxies will vote for such other nominee or nominees as the current Trustees may recommend or the Board may reduce the number of Trustees as provided for in the Fund’s charter documents.