On May 6, 2024, Karpus Management Inc announced that on May 2, 2024, Eaton Vance Municipal Bond Fund entered into a standstill agreement with Karpus Management dated as of May 1, 2024. Pursuant to the terms of the agreement, Karpus has withdrawn its nomination of Arthur Charles Regan, Daniel C. Robeson, and Robert Vanderhoof to the Board of Directors of the Company and the 2 shareholder proposals it had previously submitted. Karpus has also agreed to remain a ?Passive Investor?

as defined in the agreement for a 2-year period, subject to the terms and conditions of the agreement. Pursuant to the agreement, the Company authorized a cash tender offer for up to 20% of its outstanding common shares at a price per share equal to 98% of the Company?s net asset value per share as of the close of regular trading on the New York Stock Exchange on the date the tender offer expires (Firm Tender Offer). In addition, the Company authorized 2 conditional cash tender offers to follow the Firm Tender Offer, provided certain conditions are met.

If during the applicable measurement periods, as described in the agreement, the Company?s common shares trade at an average discount to NAV of more than 7.5% (based upon the average of the difference between its volume-weighted average market price and NAV each business day during the period), the Company will conduct up to 2 additional tender offers, each for up to 5% of the Company?s then-outstanding common shares at 98% of NAV per share.