Eaton Vance Floating-Rate 2022 Target Term Trust Announces Termination and Liquidation

Eaton Vance Floating-Rate 2022 Target Term Trust (NYSE:EFL) ("the Trust") completed its termination and liquidation on October 31, 2022. The termination and liquidation occurred in accordance with the Trust's investment objectives and organizational documents, consistent with the Trust's previously announced liquidation plans.

The Trust returned to shareholders $8.664728 per common share as its liquidating distribution. Over its five-year term, the Trust paid 61 regular monthly distributions totaling $2.3198 per share, which equates to an average annual distribution rate of 4.65% on the original net asset value per common share. The Trust's annualized total return since inception was 2.44% at net asset value and 2.37% based on market price.

Shareholders may recognize a gain or loss for U.S. tax purposes as a result of the liquidation. The Trust's investment adviser, Eaton Vance Management ("Eaton Vance"), does not provide tax advice; investors should consult a professional tax advisor regarding their specific tax situation.

This press release is for informational purposes only and is not intended to, and does not, constitute an offer to purchase or sell shares of a fund.

Statements in this press release that are not historical facts may be forward-looking statements, as defined by the U.S. securities laws. You should exercise caution in interpreting and relying on forward-looking statements because they are subject to uncertainties and other factors that may be beyond a fund's control and could cause actual results to differ materially from those set forth in the forward-looking statements.

Eaton Vance applies in-depth fundamental analysis to the active management of equity, income, alternative and multi-asset strategies. Eaton Vance's investment teams follow time-tested principles of investing that emphasize ongoing risk management, tax management (where applicable) and the pursuit of consistent long term returns. With a history dating back to 1924, Eaton Vance's investment capabilities encompass the global capital markets. For more information, visit eatonvance.com. Eaton Vance is a part of Morgan Stanley Investment Management, the asset management division of Morgan Stanley.

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