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Voya Senior Loan Strategy│

Composite Gross and Net Returns vs. the Index (%) – April 2, 2001 to December 31, 20162001 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 YTD

Composite Gross Return 5.16 4.42 10.23 6.46 6.27 8.06 3.04 -29.26 52.84 9.98 2.01 11.27 6.49 2.55 1.43 8.66 8.66Composite Net Return 4.69 3.80 9.57 5.83 5.64 7.41 2.43 -29.70 51.95 9.33 1.40 10.72 5.96 2.04 0.93 8.13 8.13S&P/LSTA Leveraged Loan Index 2.02 1.91 9.97 5.17 5.08 6.77 2.02 -29.10 51.62 10.13 1.52 9.66 5.29 1.60 -0.69 10.16 10.16Excess Gross Over S&P/LSTA Index 3.14 2.51 0.26 1.30 1.20 1.28 1.02 -0.16 1.22 -0.15 0.49 1.61 1.20 0.95 2.12 -1.50 -1.50

Composite Default History vs. the Index – April 2, 2001 to December 31, 20162001 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 LTM1

Composite Payment Defaults 1 0 1 2 1 1 0 4 10 6 1 1 1 0 1 1 1Composite Aggregate Defaults 1 3 2 4 1 1 0 6 17 9 1 1 3 0 2 2 2S&P/LSTA Index Defaults 21 21 9 7 10 5 2 37 63 20 3 9 11 5 11 20 20Composite Payment Default Rate (%) 0.81 0.00 0.79 0.24 0.03 0.16 0.00 0.30 6.06 1.26 0.16 0.10 0.11 0.00 0.04 0.19 0.19Composite Aggregate Default Rate (%) 0.81 2.01 1.27 0.39 0.03 0.16 0.00 0.66 9.33 1.68 0.16 0.10 0.46 0.00 0.52 0.32 0.32S&P/LSTA Index Default Rate (%) 6.30 6.01 2.25 1.01 3.02 0.48 0.24 3.75 9.61 1.87 0.17 1.27 2.11 3.24 1.54 1.58 1.58

Voya Senior Loan Strategy│

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CharacteristicsNumber of Industries 38Average per Industry $107,542,317Average per Industry as a % of AUM 2.63%Number of Issuers 403Average per Issuer $10,140,467Average per Issuer as a % of AUM 0.25%% of Loans Denominated in USD 100.00%AUM (Market Value) $4,086,608,058Previous Month End AUM $3,956,212,016Weighted Average Spread 3.84%Weighted Average Maturity (years) 5.04Weighted Average Market Price 99.25%

Top Ten Issuers ($ millions) Market Value ($) % of AUMAsurion, LLC 47.9 1.17%Dell International LLC 38.9 0.95%National Financial Partners Corp. 33.5 0.82%Advantage Sales & Marketing, Inc. 29.4 0.72%RCN Grande Cable 29.3 0.72%Bass Pro Group, LLC 28.9 0.71%PetSmart, Inc. 28.8 0.70%Communications Sales & Leasing, Inc. 28.8 0.70%Amaya Gaming Group Inc. 28.4 0.69%BMC Software, Inc. 28.2 0.69%

Ratings Distribution (%)

10.0% 10.0%

17.0%

24.9%26.8%

6.5%4.3%

0.6%

BB+ orAbove

BB BB- B+ B B- CCC orBelow

Not PubliclyRated

Industry Distribution*

Electronics/Electrical, 12.2%

Health Care, 10.3%

Retailers (Except Food & Drug), 7.4%

Telecommunications, 6.4%Business Equipment & Services,

5.7%Diversified Insurance, 4.9%

Chemicals & Plastics, 4.2%Lodging & Casinos, 4.0%

Cable & Satellite Television, 3.4%

Automotive, 3.3%Containers & Glass Products, 3.1%

Leisure Goods/Activities/Movies, 3.0%

Utilities, 2.6%

Industrial Equipment, 2.4%

Radio & Television, 2.3%

Other, 19.3%

investment

Voya Senior Loan Strategy│

SL Org chart

SL strategy brief

SICAV SB

FIRM_crosspres

PWA

Investment Committee and Credit Risk Management

Jeff BakalarManaging Director and Group Head

31 Years Experience

Dan NormanManaging Director and Group Head

32 Years Experience

Ralph BucherSenior Vice President and Senior Credit Officer

32 Years Experience

Scottsdale

Team Leaders and Portfolio Managers

Mohamed Basma, CFASenior Vice President20 Years Experience

Mark Haak, CFASenior Vice President23 Years Experience

Chuck LeMieux, CFASenior Vice President30 Years Experience

Michel Prince, CFASenior Vice President30 Years Experience

Robert WilsonSenior Vice President30 Years Experience

Olivier StrubenSenior Vice President20 Years Experience

Research and Investment Management

Kris Trocki, CFAVice President14 Years Experience

Ambuj Chaudhary, CFASr. Structured Analyst13 Years Experience

Logan HurstResearch Analyst4 Years Experience

Joseph LagunaVice President17 Years Experience

Michael Donoghue, CFAAsst. Vice President7 Years Experience

Amanda KrauseResearch Analyst5 Years Experience

Kelly Byrne, CFAVice President17 Years Experience

Romain Catois, CFAVice President17 Years Experience

Sara PagesSenior Research Analyst6 Years Experience

Stan Zou, CFAVice President19 Years Experience

Colin ClinganVice President17 Years Experience

Kyle Crosse Research Analyst5 Years Experience

Jim EssertSenior Vice President23 Years Experience

Jason Esplin, CFAVice President15 Years Experience

Mallory AndersonResearch Analyst6 Years Experience

Floris van den Berg, CFAVice President16 Years Experience

Joe Alston Research Analyst4 Years Experience

Industries■ Restaurants■ Retail■ Structured Finance

Industries■ Automotive■ Building Products■ Consumer Products■ Entertainment / Leisure■ Manufacturing■ Telecommunications■ Transportation

Industries■ Aerospace and Defense■ Cable Television■ Chemicals■ Energy■ Metals/Mining■ Paper/Packaging■ Utilities

Industries■ Broadcasting■ Ecological■ Healthcare■ Media■ Publishing

Industries■ Financial Services■ Food/Beverage■ Gaming■ Lodging■ Technology■ Real Estate

Industries■ European Loan Exposure

Administrative Support

Kelly HugeExecutive Assistant24 Years Experience

Trading

Bill NuttingSenior Trader22 Years Experience

Warren MillerTrader17 Years Experience

Sarah SwiftTrading Assistant14 Years Experience

Administration and Marketing

Jake JamisonAssistant Vice President5 Years Experience

Tamara WiegingPortfolio Specialist11 Years Experience2 Specialists

Treasury, Operations and Compliance

Elliot RosenHead of Treasury and Operations40 Years Experience

20 Specialists

London

As of January 1, 2017.