Virtus Global Multi-Sector Income Fund

Section 19(a) Notice

HARTFORD, CT, June 18, 2020 – Virtus Global Multi-Sector Income Fund (NYSE: VGI) declared a distribution of $0.10 per share to shareholders of record at the close of business on June 11, 2020 (ex-date June 10, 2020). As was announced on May 26, 2020, the Fund’s monthly distribution rate has been reduced by $0.026 per share. The decrease in the fund’s distribution rate is the result of market events during the first quarter of 2020, including significant volatility in the fixed income markets and management’s desire to provide a distribution rate that it considers more sustainable in the current environment.

The following table sets forth the estimated amounts of the most current distribution and the cumulative distributions paid this fiscal year to date from the following sources. All amounts are expressed based on U.S. generally accepted accounting principles which may differ from federal income tax regulations.

Distribution Estimates	May 2020 (MTD)					Fiscal Year-to-Date (YTD)(1)
(Sources)	Per Share Amount		Percentage of Current Distribution			Per Share Amount		Percentage of Current Distribution
Net Investment Income	$	0.044		35.1	%	$	0.277		36.6	%
Net Realized Short-Term Capital Gains		—		0.0	%		—		0.0	%
Net Realized Long-Term Capital Gains		—		0.0	%		—		0.0	%
Return of Capital (or other Capital Source)		0.082		64.9	%		0.479		63.4	%
Total Distribution	$	0.126		100.0	%	$	0.756		100.0	%

(1) Fiscal year starts December 1, 2019

May 29, 2020
Average Annual Total Return on NAV for the 5-year period (2)	3.20	%
Current Fiscal YTD Annualized Distribution Rate (3)	12.93	%
Fiscal YTD Cumulative Total Return on NAV (4)	-4.86	%
Fiscal YTD Cumulative Distribution Rate (5)	6.47	%

(2) Average Annual Total Return on NAV is the annual compound return for the five-year period. It reflects the change in the Fund’s NAV and reinvestment of all distributions.

(3) Current Fiscal YTD Annualized Distribution Rate is the current distribution rate annualized as a percentage of the Fund’s NAV at month end.

Virtus Global Multi-Sector Income Fund - 2

(4) Fiscal YTD Cumulative Total Return on NAV is the percentage change in the Fund’s NAV from the first day of the fiscal year to this month end, including distributions paid and assuming reinvestment of those distributions.

(5) Fiscal YTD Cumulative Distribution Rate is the dollar value of distributions from the first day of the fiscal year to this month end as a percentage of the Fund’s NAV at month end.

Under the terms of its Managed Distribution Plan, the Fund will seek to maintain a consistent distribution level that may be paid in part or in full from net investment income and realized capital gains, or a combination thereof. Shareholders should note, however, that if the Fund’s aggregate net investment income and net realized capital gains are less than the amount of the distribution level, the difference will be distributed from the Fund’s assets and will constitute a return of the shareholder’s capital. You should not draw any conclusions about the Fund’s investment performance from the amount of this distribution or from the terms of the Fund’s Managed Distribution Plan.

The Fund estimates that it has distributed more than its income and capital gains; therefore, a portion of your distribution may be a return of capital. A return of capital may occur, for example, when some or all of the money that you invested in the Fund is paid back to you. A return of capital distribution does not necessarily reflect the Fund’s investment performance and should not be confused with ‘yield’ or ‘income’.

The amounts and sources of distributions reported in this notice are estimates only and are not being provided for tax reporting purposes. The actual amounts and sources of the distributions will depend on the Fund’s investment experience during the remainder of its fiscal year and may be subject to changes based on tax regulations. The Fund or your broker will send shareholders a Form 1099-DIV for the calendar year that will tell shareholders what distributions to report for federal income tax purposes.

For more information on the Fund, contact shareholder services at (866) 270-7788, by email at closedendfunds@virtus.com, or through the Closed-End Funds section of www.virtus.com.

Cusip: 92829B101

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Virtus Global Multi-Sector Income Fund

Section 19(a) Notice

HARTFORD, CT, July 20, 2020 – Virtus Global Multi-Sector Income Fund (NYSE: VGI) declared a distribution of $0.10 per share to shareholders of record at the close of business on July 13, 2020 (ex-date July 10, 2020).

The following table sets forth the estimated amounts of the most current distribution and the cumulative distributions paid this fiscal year to date from the following sources. All amounts are expressed based on U.S. generally accepted accounting principles which may differ from federal income tax regulations.

Distribution Estimates	June 2020 (MTD)					Fiscal Year-to-Date (YTD)(1)
(Sources)	Per Share Amount		Percentage of Current Distribution			Per Share Amount		Percentage of Current Distribution
Net Investment Income	$	0.046		45.7	%	$	0.322		37.7	%
Net Realized Short-Term Capital Gains		—		0.0	%		—		0.0	%
Net Realized Long-Term Capital Gains		—		0.0	%		—		0.0	%
Return of Capital (or other Capital Source)		0.054		54.3	%		0.534		62.3	%
Total Distribution	$	0.100		100.0	%	$	0.856		100.0	%

(1) Fiscal year starts December 1, 2019

Information regarding the Fund’s performance and distribution rates is set forth below. Please note that all performance figures are based on the Fund’s NAV and not the market price of the Fund’s shares. Performance figures are not meant to represent individual shareholder performance.

June 30, 2020
Average Annual Total Return on NAV for the 5-year period (2)	4.27	%
Current Fiscal YTD Annualized Distribution Rate (3)	10.00	%
Fiscal YTD Cumulative Total Return on NAV (4)	-1.54	%
Fiscal YTD Cumulative Distribution Rate (5)	7.14	%

(2) Average Annual Total Return on NAV is the annual compound return for the five-year period. It reflects the change in the Fund’s NAV and reinvestment of all distributions.

(3) Current Fiscal YTD Annualized Distribution Rate is the current distribution rate annualized as a percentage of the Fund’s NAV at month end.

(4) Fiscal YTD Cumulative Total Return on NAV is the percentage change in the Fund’s NAV from the first day of the fiscal year to this month end, including distributions paid and assuming reinvestment of those distributions.

Virtus Global Multi-Sector Income Fund - 2

(5) Fiscal YTD Cumulative Distribution Rate is the dollar value of distributions from the first day of the fiscal year to this month end as a percentage of the Fund’s NAV at month end.

Under the terms of its Managed Distribution Plan, the Fund will seek to maintain a consistent distribution level that may be paid in part or in full from net investment income and realized capital gains, or a combination thereof. Shareholders should note, however, that if the Fund’s aggregate net investment income and net realized capital gains are less than the amount of the distribution level, the difference will be distributed from the Fund’s assets and will constitute a return of the shareholder’s capital. You should not draw any conclusions about the Fund’s investment performance from the amount of this distribution or from the terms of the Fund’s Managed Distribution Plan.

The Fund estimates that it has distributed more than its income and capital gains; therefore, a portion of your distribution may be a return of capital. A return of capital may occur, for example, when some or all of the money that you invested in the Fund is paid back to you. A return of capital distribution does not necessarily reflect the Fund’s investment performance and should not be confused with ‘yield’ or ‘income’.

The amounts and sources of distributions reported in this notice are estimates only and are not being provided for tax reporting purposes. The actual amounts and sources of the distributions for tax purposes will depend on the Fund’s investment experience during the remainder of its fiscal year and may be subject to changes based on tax regulations. The Fund or your broker will send you a Form 1099-DIV for the calendar year that will tell you what distributions to report for federal income tax purposes.

For more information on the Fund, contact shareholder services at (866) 270-7788, by email at closedendfunds@virtus.com, or through the Closed-End Funds section of www.virtus.com.

Cusip: 92829B101

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Virtus Global Multi-Sector Income Fund

Section 19(a) Notice

HARTFORD, CT, August 20, 2020 – Virtus Global Multi-Sector Income Fund (NYSE: VGI) declared a distribution of $0.10 per share to shareholders of record at the close of business on August 13, 2020 (ex-date August 12, 2020).

The following table sets forth the estimated amounts of the most current distribution and the cumulative distributions paid this fiscal year to date from the following sources. All amounts are expressed based on U.S. generally accepted accounting principles which may differ from federal income tax regulations.

Distribution Estimates	July 2020 (MTD)					Fiscal Year-to-Date (YTD)(1)
(Sources)	Per Share Amount		Percentage of Current Distribution			Per Share Amount		Percentage of Current Distribution
Net Investment Income	$	0.048		48.5	%	$	0.371		38.8	%
Net Realized Short-Term Capital Gains		—		0.0	%		—		0.0	%
Net Realized Long-Term Capital Gains		—		0.0	%		—		0.0	%
Return of Capital (or other Capital Source)		0.052		51.5	%		0.585		61.2	%
Total Distribution	$	0.100		100.0	%	$	0.956		100.0	%

(1) Fiscal year started December 1, 2019

Information regarding the Fund’s performance and distribution rates is set forth below. Please note that all performance figures are based on the Fund’s NAV and not the market price of the Fund’s shares. Performance figures are not meant to represent individual shareholder performance.

July 31, 2020
Average Annual Total Return on NAV for the 5-year period (2)	5.06	%
Current Fiscal YTD Annualized Distribution Rate (3)	9.72	%
Fiscal YTD Cumulative Total Return on NAV (4)	2.32	%
Fiscal YTD Cumulative Distribution Rate (5)	7.74	%

(2) Average Annual Total Return on NAV is the annual compound return for the five-year period. It reflects the change in the Fund’s NAV and reinvestment of all distributions.

(3) Current Fiscal YTD Annualized Distribution Rate is the current distribution rate annualized as a percentage of the Fund’s NAV at month end.

Virtus Global Multi-Sector Income Fund - 2

(4) Fiscal YTD Cumulative Total Return on NAV is the percentage change in the Fund’s NAV from the first day of the fiscal year to this month end, including distributions paid and assuming reinvestment of those distributions.

(5) Fiscal YTD Cumulative Distribution Rate is the dollar value of distributions from the first day of the fiscal year to this month end as a percentage of the Fund’s NAV at month end.

Under the terms of its Managed Distribution Plan, the Fund will seek to maintain a consistent distribution level that may be paid in part or in full from net investment income and realized capital gains, or a combination thereof. Shareholders should note, however, that if the Fund’s aggregate net investment income and net realized capital gains are less than the amount of the distribution level, the difference will be distributed from the Fund’s assets and will constitute a return of the shareholder’s capital. You should not draw any conclusions about the Fund’s investment performance from the amount of this distribution or from the terms of the Fund’s Managed Distribution Plan.

The Fund estimates that it has distributed more than its income and capital gains; therefore, a portion of your distribution may be a return of capital. A return of capital may occur, for example, when some or all of the money that you invested in the Fund is paid back to you. A return of capital distribution does not necessarily reflect the Fund’s investment performance and should not be confused with ‘yield’ or ‘income’.

The amounts and sources of distributions reported in this notice are estimates only and are not being provided for tax reporting purposes. The actual amounts and sources of the distributions for tax purposes will depend on the Fund’s investment experience during the remainder of its fiscal year and may be subject to changes based on tax regulations. The Fund or your broker will send you a Form 1099-DIV for the calendar year that will tell you what distributions to report for federal income tax purposes.

For more information on the Fund, contact shareholder services at (866) 270-7788, by email at closedendfunds@virtus.com, or through the Closed-End Funds section of www.virtus.com.

Cusip: 92829B101

# # #

Virtus Global Multi-Sector Income Fund

Section 19(a) Notice

HARTFORD, CT, September 18, 2020 – Virtus Global Multi-Sector Income Fund (NYSE: VGI) declared a distribution of $0.10 per share to shareholders of record at the close of business on September 11, 2020 (ex-date September 10, 2020).

The following table sets forth the estimated amounts of the most current distribution and the cumulative distributions paid this fiscal year to date from the following sources. All amounts are expressed based on U.S. generally accepted accounting principles which may differ from federal income tax regulations.

Distribution Estimates	August 2020 (MTD)					Fiscal Year-to-Date (YTD)(1)
(Sources)	Per Share Amount		Percentage of Current Distribution			Per Share Amount		Percentage of Current Distribution
Net Investment Income	$	0.046		45.7	%	$	0.417		39.5	%
Net Realized Short-Term Capital Gains		—		0.0	%		—		0.0	%
Net Realized Long-Term Capital Gains		—		0.0	%		—		0.0	%
Return of Capital (or other Capital Source)		0.054		54.3	%		0.639		60.5	%
Total Distribution	$	0.100		100.0	%	$	1.056		100.0	%

(1) Fiscal year started December 1, 2019    

Information regarding the Fund’s performance and distribution rates is set forth below. Please note that all performance figures are based on the Fund’s NAV and not the market price of the Fund’s shares. Performance figures are not meant to represent individual shareholder performance.

August 31, 2020
Average Annual Total Return on NAV for the 5-year period (2)	5.91	%
Current Fiscal YTD Annualized Distribution Rate (3)	9.68	%
Fiscal YTD Cumulative Total Return on NAV (4)	3.53	%
Fiscal YTD Cumulative Distribution Rate (5)	8.52	%

(2) Average Annual Total Return on NAV is the annual compound return for the five-year period. It reflects the change in the Fund’s NAV and reinvestment of all distributions.

(3) Current Fiscal YTD Annualized Distribution Rate is the current distribution rate annualized as a percentage of the Fund’s NAV at month end.

Virtus Global Multi-Sector Income Fund - 2

(4) Fiscal YTD Cumulative Total Return on NAV is the percentage change in the Fund’s NAV from the first day of the fiscal year to this month end, including distributions paid and assuming reinvestment of those distributions.

(5) Fiscal YTD Cumulative Distribution Rate is the dollar value of distributions from the first day of the fiscal year to this month end as a percentage of the Fund’s NAV at month end.

Under the terms of its Managed Distribution Plan, the Fund will seek to maintain a consistent distribution level that may be paid in part or in full from net investment income and realized capital gains, or a combination thereof. Shareholders should note, however, that if the Fund’s aggregate net investment income and net realized capital gains are less than the amount of the distribution level, the difference will be distributed from the Fund’s assets and will constitute a return of the shareholder’s capital. You should not draw any conclusions about the Fund’s investment performance from the amount of this distribution or from the terms of the Fund’s Managed Distribution Plan.

The Fund estimates that it has distributed more than its income and capital gains; therefore, a portion of your distribution may be a return of capital. A return of capital may occur, for example, when some or all of the money that you invested in the Fund is paid back to you. A return of capital distribution does not necessarily reflect the Fund’s investment performance and should not be confused with ‘yield’ or ‘income’.

The amounts and sources of distributions reported in this notice are estimates only and are not being provided for tax reporting purposes. The actual amounts and sources of the distributions for tax purposes will depend on the Fund’s investment experience during the remainder of its fiscal year and may be subject to changes based on tax regulations. The Fund or your broker will send you a Form 1099-DIV for the calendar year that will tell you what distributions to report for federal income tax purposes.

For more information on the Fund, contact shareholder services at (866) 270-7788, by email at closedendfunds@virtus.com, or through the Closed-End Funds section of www.virtus.com.

Cusip: 92829B101

# # #

Virtus Global Multi-Sector Income Fund

Section 19(a) Notice

HARTFORD, CT, October 20, 2020 – Virtus Global Multi-Sector Income Fund (NYSE: VGI) declared a distribution of $0.10 per share to shareholders of record at the close of business on October 13, 2020 (ex-date October 9, 2020).

The following table sets forth the estimated amounts of the most current distribution and the cumulative distributions paid this fiscal year to date from the following sources. All amounts are expressed based on U.S. generally accepted accounting principles which may differ from federal income tax regulations.

Distribution Estimates	September 2020 (MTD)					Fiscal Year-to-Date (YTD)(1)
(Sources)	Per Share Amount		Percentage of Current Distribution			Per Share Amount		Percentage of Current Distribution
Net Investment Income	$	0.045		45.1	%	$	0.462		39.9	%
Net Realized Short-Term Capital Gains		—		0.0	%		—		0.0	%
Net Realized Long-Term Capital Gains		—		0.0	%		—		0.0	%
Return of Capital (or other Capital Source)		0.055		54.9	%		0.694		60.1	%
Total Distribution	$	0.100		100.0	%	$	1.156		100.0	%

(1) Fiscal year started December 1, 2019

Information regarding the Fund’s performance and distribution rates is set forth below. Please note that all performance figures are based on the Fund’s NAV and not the market price of the Fund’s shares. Performance figures are not meant to represent individual shareholder performance.

September 30, 2020
Average Annual Total Return on NAV for the 5-year period (2)	6.08	%
Current Fiscal YTD Annualized Distribution Rate (3)	9.87	%
Fiscal YTD Cumulative Total Return on NAV (4)	2.52	%
Fiscal YTD Cumulative Distribution Rate (5)	9.51	%

(2) Average Annual Total Return on NAV is the annual compound return for the five-year period. It reflects the change in the Fund’s NAV and reinvestment of all distributions.

(3) Current Fiscal YTD Annualized Distribution Rate is the current distribution rate annualized as a percentage of the Fund’s NAV at month end.

Virtus Global Multi-Sector Income Fund - 2

(4) Fiscal YTD Cumulative Total Return on NAV is the percentage change in the Fund’s NAV from the first day of the fiscal year to this month end, including distributions paid and assuming reinvestment of those distributions.

(5) Fiscal YTD Cumulative Distribution Rate is the dollar value of distributions from the first day of the fiscal year to this month end as a percentage of the Fund’s NAV at month end.

Under the terms of its Managed Distribution Plan, the Fund will seek to maintain a consistent distribution level that may be paid in part or in full from net investment income and realized capital gains, or a combination thereof. Shareholders should note, however, that if the Fund’s aggregate net investment income and net realized capital gains are less than the amount of the distribution level, the difference will be distributed from the Fund’s assets and will constitute a return of the shareholder’s capital. You should not draw any conclusions about the Fund’s investment performance from the amount of this distribution or from the terms of the Fund’s Managed Distribution Plan.

The Fund estimates that it has distributed more than its income and capital gains; therefore, a portion of your distribution may be a return of capital. A return of capital may occur, for example, when some or all of the money that you invested in the Fund is paid back to you. A return of capital distribution does not necessarily reflect the Fund’s investment performance and should not be confused with ‘yield’ or ‘income’.

The amounts and sources of distributions reported in this notice are estimates only and are not being provided for tax reporting purposes. The actual amounts and sources of the distributions for tax purposes will depend on the Fund’s investment experience during the remainder of its fiscal year and may be subject to changes based on tax regulations. The Fund or your broker will send you a Form 1099-DIV for the calendar year that will tell you what distributions to report for federal income tax purposes.

For more information on the Fund, contact shareholder services at (866) 270-7788, by email at closedendfunds@virtus.com, or through the Closed-End Funds section of www.virtus.com.

Cusip: 92829B101

# # #

Virtus Global Multi-Sector Income Fund

Section 19(a) Notice

HARTFORD, CT, November 19, 2020 – Virtus Global Multi-Sector Income Fund (NYSE: VGI) declared a distribution of $0.10 per share to shareholders of record at the close of business on November 12, 2020 (ex-date November 10, 2020).

The following table sets forth the estimated amounts of the most current distribution and the cumulative distributions paid this fiscal year to date from the following sources. All amounts are expressed based on U.S. generally accepted accounting principles which may differ from federal income tax regulations.

Distribution Estimates	October 2020 (MTD)					Fiscal Year-to-Date (YTD)(1)
(Sources)	Per Share Amount		Percentage of Current Distribution			Per Share Amount		Percentage of Current Distribution
Net Investment Income	$	0.046		46.1	%	$	0.508		40.4	%
Net Realized Short-Term Capital Gains		—		0.0	%		—		0.0	%
Net Realized Long-Term Capital Gains		—		0.0	%		—		0.0	%
Return of Capital (or other Capital Source)		0.054		53.9	%		0.748		59.6	%
Total Distribution	$	0.100		100.0	%	$	1.256		100.0	%

(1) Fiscal year started December 1, 2019    

Information regarding the Fund’s performance and distribution rates is set forth below. Please note that all performance figures are based on the Fund’s NAV and not the market price of the Fund’s shares. Performance figures are not meant to represent individual shareholder performance.

October 30, 2020
Average Annual Total Return on NAV for the 5-year period (2)	5.43	%
Current Fiscal YTD Annualized Distribution Rate (3)	9.89	%
Fiscal YTD Cumulative Total Return on NAV (4)	3.19	%
Fiscal YTD Cumulative Distribution Rate (5)	10.35	%

(2) Average Annual Total Return on NAV is the annual compound return for the five-year period. It reflects the change in the Fund’s NAV and reinvestment of all distributions.    

(3) Current Fiscal YTD Annualized Distribution Rate is the current distribution rate annualized as a percentage of the Fund’s NAV at month end.    

Virtus Global Multi-Sector Income Fund - 2

(4) Fiscal YTD Cumulative Total Return on NAV is the percentage change in the Fund’s NAV from the first day of the fiscal year to this month end, including distributions paid and assuming reinvestment of those distributions.

(5) Fiscal YTD Cumulative Distribution Rate is the dollar value of distributions from the first day of the fiscal year to this month end as a percentage of the Fund’s NAV at month end.

Under the terms of its Managed Distribution Plan, the Fund will seek to maintain a consistent distribution level that may be paid in part or in full from net investment income and realized capital gains, or a combination thereof. Shareholders should note, however, that if the Fund’s aggregate net investment income and net realized capital gains are less than the amount of the distribution level, the difference will be distributed from the Fund’s assets and will constitute a return of the shareholder’s capital. You should not draw any conclusions about the Fund’s investment performance from the amount of this distribution or from the terms of the Fund’s Managed Distribution Plan.

The Fund estimates that it has distributed more than its income and capital gains; therefore, a portion of your distribution may be a return of capital. A return of capital may occur, for example, when some or all of the money that you invested in the Fund is paid back to you. A return of capital distribution does not necessarily reflect the Fund’s investment performance and should not be confused with ‘yield’ or ‘income’.

The amounts and sources of distributions reported in this notice are estimates only and are not being provided for tax reporting purposes. The actual amounts and sources of the distributions for tax purposes will depend on the Fund’s investment experience during the remainder of its fiscal year and may be subject to changes based on tax regulations. The Fund or your broker will send you a Form 1099-DIV for the calendar year that will tell you what distributions to report for federal income tax purposes.

For more information on the Fund, contact shareholder services at (866) 270-7788, by email at closedendfunds@virtus.com, or through the Closed-End Funds section of www.virtus.com.

Cusip: 92829B101

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