(d)(1)(i) 

May 1, 2023 

Voya Mutual Funds 

7337 E. Doubletree Ranch Road 

Suite 100 

Scottsdale, AZ 85258 

Re:  Management Fee Waiver 

Ladies and Gentlemen: 

By this letter dated May 1, 2023, we have agreed to waive a portion of the management fee payable to us under the Investment Management Agreement, dated November 18, 2014, as amended and restated on May 1, 2015, between Voya Investments, LLC and Voya Mutual Funds (the “Agreement”), with respect to Voya Multi-Manager International Equity Fund (the “Fund”), a series of Voya Mutual Funds.  By this letter, we agree to waive that fee, as indicated in the table below, for the period from May 1, 2023 through March 1, 2025. 

This waiver (the “Waiver”) is “outside” the Fund’s expense limit arrangements under a separate expense limitation agreement (the “ELA”).  This means that the Waiver does not reduce the Fund’s net operating expense ratio before the ELA is applied.  The Waiver is deducted after the ELA is applied.  However, with respect to any share class of the Fund that has a 0.00% expense limit, the Waiver cannot further reduce the 0.00% net expense ratio experienced by shareholders with respect to that share class. 

Voya Investments, LLC acknowledges that any fees waived during the term of this Agreement shall not be eligible for recoupment at any time in the future.   

Series	Waiver  (as a percentage of average daily net assets)
Voya Multi-Manager International Equity Fund	0.01%

Notwithstanding the foregoing, termination or modification of this letter requires approval by the Board of Trustees of Voya Mutual Funds. 

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Please indicate your agreement to this letter by executing below in the place indicated.  

Very sincerely, 

By:/s/ Todd Modic_____________ 

Todd Modic 

Senior Vice President 

Voya Investments, LLC  

Agreed and Accepted: 

Voya Mutual Funds 

By: /s/ Kimberly A. Anderson 

Kimberly A. Anderson 

Senior Vice President, Duly Authorized