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Voya Prime Rate Trust Files Definitive Proxy Statement

Voya Prime Rate Trust (NYSE: PPR) (the "Trust"), today filed definitive proxy materials with the Securities and Exchange Commission in connection with the Trust’s Annual Meeting of Shareholders, which is scheduled to be held on July 9, 2020. Trust shareholders of record as of the close of business on April 24, 2020 will be entitled to vote at the Annual Meeting.

As outlined in the proxy materials, the Trust’s experienced trustees have delivered on the Trust’s commitment to strong dividends and have been acting responsibly to ensure its strategy continues in an uncertain environment. The trustees believe that stability and continuity should be key objectives of closed-end funds such as Voya Prime Rate Trust as markets weather this challenging economic time.

The Board asks that all shareholders cast their vote "FOR" the Board-approved nominees listed on the WHITE proxy card included in the Trust’s proxy materials and "AGAINST" a shareholder proposal adverse to the interests of all shareholders. Voting takes just a few minutes and can be done by mail, phone or online.

IMPORTANT INFORMATION

On May 11, 2020, the Trust filed a definitive proxy statement and WHITE proxy card with the U.S. Securities and Exchange Commission (the "SEC") in connection with the Trust’s 2020 Annual Meeting of Shareholders. SHAREHOLDERS ARE STRONGLY ENCOURAGED TO READ SUCH DEFINITIVE PROXY STATEMENT AND ACCOMPANYING WHITE PROXY CARD AS THEY CONTAIN IMPORTANT INFORMATION. Shareholders are able to obtain the proxy statement, any amendments or supplements to the proxy statement and other documents filed by the Trust with the SEC for no charge at the SEC’s website at www.sec.gov. If you have any questions regarding this information or the proxy materials, please contact Georgeson LLC, the Trust’s proxy solicitor assisting us in connection with the annual meeting, toll-free at 1-877-278-4775.

About Voya Investment Management
A leading, active asset management firm, Voya Investment Management manages, as of March 31, 2020, more than $210 billion for affiliated and external institutions as well as individual investors. With over 40 years of history in asset management, Voya Investment Management has the experience and resources to provide clients with investment solutions with an emphasis on equities, fixed income, and multi-asset strategies and solutions. Voya Investment Management was named in 2015, 2016, 2017, 2018 and 2019 as a "Best Places to Work" by Pensions and Investments magazine. For more information, visit voyainvestments.com. Follow Voya Investment Management on Twitter @VoyaInvestments.

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Contacts

Kristopher Kagel
(212) 309-6568
Kristopher.Kagel@voya.com