Foreign tax

Foreign taxes paid by a mutual fund and passed through to its shareholders may be eligible for a federal tax deduction or credit.

The chart below represents Funds that have elected to pass through foreign taxes to shareholders (the amount reported in Box 7 of your Form 1099-DIV). The dividends reported in Box 1 of your IRS Form 1099-DIV have been grossed up by the amount of such foreign taxes. Box 7 gives the amount of foreign tax paid.

You can choose to take the foreign tax amount (Box 7) as a foreign tax credit or as an itemized deduction. If you qualify to take the foreign tax credit, you may report it directly on Form 1040 or by using Form 1116 and Form 1040 Schedule 3. Please refer to the following IRS sources for additional information to determine which method of reporting is appropriate for you:

• IRS Publication 514 - Foreign Tax Credit for Individuals
• Instructions for IRS Form 1040
• IRS Form 1116 - Foreign Tax Credit
• Instructions for IRS Form 1040 Schedule 3
• Instructions for IRS Form 1040 Schedule A

The table below represents the percentage of ordinary income earned in 2024 attributable to income from foreign sources. This percentage should be applied to your fund’s Form 1099-DIV Box 1a amount to determine the amount of foreign source income that is associated with the foreign tax credit. If your fund is not listed, no foreign tax credit was passed through.

Mutual fund shareholders are not required to report country-by-country detail. The code "RIC" should be used when completing foreign country information on Form 1116. See Form 1116 instructions for additional information.

Percentage of foreign source income for 2024

The information contained in this section is not intended to be legal or tax advice. If you need assistance preparing your tax return, please consult a tax advisor. Information may be abridged and therefore incomplete. Any discussion pertaining to taxes in this communication (including attachments) may be part of the promotion or marketing of a product. Advice (if any) related to federal taxes that is contained in this communication (including attachments) is not intended or written to be used, and cannot be used, for the purpose of avoiding penalties under the Internal Revenue Code. Individuals should seek advice based on their own particular circumstances from an independent tax advisor.

Carefully consider the Fund’s investment objectives, risk factors, charges, and expenses before investing. This and other information can be found in the Fund’s prospectus, which may be obtained by visiting optimummutualfunds.com/literature or calling 800 914-0278. Investors should read the prospectus and, if available, the summary prospectus carefully before investing.

Investing involves risk, including the possible loss of principal.