Estimated year-end distributions

Eaton Vance and Calvert

Estimated year-end distributions

Set forth below are preliminary estimates of the ordinary income and capital gains expected to be distributed by certain Eaton Vance mutual funds and the anticipated dates on which such distributions will be made. The amounts and the timing of the distributions are subject to change. These estimates are provided for informational purposes only and should not be relied on as investment or tax advice. Information about the tax treatment of actual 2023 Fund distributions will be provided to shareholders in February 2024.

Estimates as of 8/31/23

Eaton Vance Fund Name

Atlanta Capital Focused Growth Fund Atlanta Capital Select Equity Fund Atlanta Capital SMID-Cap Fund Balanced Fund Dividend Builder Fund Emerging and Frontier Countries Equity Fund Floating Rate Advantage Fund Floating-Rate & High Income Fund Floating-Rate Fund Focused Growth Opportunities Fund Focused Value Opportunities Fund Global Macro Absolute Return Advantage Fund Global Macro Absolute Return Fund Greater China Growth Fund Greater India Fund Growth Fund

High Income Opportunities Fund

Income Fund of Boston International Small-Cap Fund Large-Cap Value Fund Parametric Commodity Strategy Fund Parametric Emerging Markets Fund

Ordinary Income Range Per Share

0.00 - 0.07 0.00 - 0.00 0.00 - 0.06 0.00 - 0.00 0.00 - 0.00 0.46 - 0.56 0.00 - 0.09* 0.01 - 0.11* 0.00 - 0.07* 0.00 - 0.00 0.18 - 0.28 0.59 - 0.69 0.00 - 0.09* 0.00 - 0.08 0.00 - 0.00 0.00 - 0.00

0.03 - 0.13*

0.08 - 0.18* 0.23 - 0.33 0.00 - 0.00 0.15 - 0.25 0.37 - 0.47

Ordinary Income % of NAV as of

10/6/23

0.00% - 0.43% 0.00% - 0.00% 0.00% - 0.18% 0.00% - 0.00% 0.00% - 0.00% 3.81% - 4.64% 0.00% - 0.86%

0.15% - 1.36% 0.00% - 0.88% 0.00% - 0.00% 1.05% - 1.63% 5.90% - 6.90% 0.00% - 1.08% 0.00% - 0.52% 0.00% - 0.00% 0.00% - 0.00%

0.74% - 3.27%

1.69% - 3.75% 2.01% - 2.88% 0.00% - 0.00% 2.38% - 3.99% 2.81% - 3.58%

Short-Term Range Per Share

0.00 - 0.09 0.00 - 0.00 0.00 - 0.00 0.00 - 0.00 0.16 - 0.26 0.00 - 0.00 0.00 - 0.00 0.00 - 0.00 0.00 - 0.00 0.00 - 0.00 0.09 - 0.19 0.00 - 0.00 0.00 - 0.00 0.00 - 0.00 0.00 - 0.00 0.00 - 0.00

0.00 - 0.00

0.00 - 0.00 0.00 - 0.00 0.00 - 0.00 0.00 - 0.00 0.00 - 0.00

Short-Term % of NAV as of

10/6/23

0.00% - 0.60% 0.00% - 0.00% 0.00% - 0.00% 0.00% - 0.00%

1.18% - 1.91% 0.00% - 0.00% 0.00% - 0.00% 0.00% - 0.00% 0.00% - 0.00% 0.00% - 0.00% 0.50% - 1.08% 0.00% - 0.00% 0.00% - 0.00% 0.00% - 0.00% 0.00% - 0.00% 0.00% - 0.00%

0.00% - 0.00%

0.00% - 0.00% 0.00% - 0.00% 0.00% - 0.00% 0.00% - 0.00% 0.00% - 0.00%

Long-Term Range Per Share

0.00 - 0.08 0.66 - 0.76 0.81 - 0.91 0.12 - 0.22 0.00 - 0.08 0.00 - 0.00 0.00 - 0.00 0.00 - 0.00 0.00 - 0.00 0.41 - 0.51 0.53 - 0.63 0.00 - 0.00 0.00 - 0.00 0.75 - 0.85 1.58 - 1.78 2.87 - 3.17

0.00 - 0.00

0.00 - 0.00 0.00 - 0.00 0.66 - 0.76 0.00 - 0.00 0.00 - 0.00

Long-Term % of NAV as of

10/6/23

0.00% - 0.53% 2.20% - 2.53% 2.36% - 2.66% 1.28% - 2.32% 0.00% - 0.55% 0.00% - 0.00% 0.00% - 0.00% 0.00% - 0.00% 0.00% - 0.00% 2.02% - 2.52% 3.05% - 3.62% 0.00% - 0.00% 0.00% - 0.00% 4.93% - 5.59% 4.62% - 5.20% 8.72% - 9.63%

0.00% - 0.00%

0.00% - 0.00% 0.00% - 0.00% 2.98% - 3.43% 0.00% - 0.00% 0.00% - 0.00%

Dividend

Record Ex-Dividend Payable

Date

Date

Date

12/11/23 12/12/23 12/13/23

12/11/23 12/12/23 12/13/23

12/11/23 12/8/23 12/7/23

12/12/23 12/11/23 12/8/23

12/13/23 12/12/13 12/11/23

12/27/23 12/13/23 12/13/23 12/13/23

12/28/23 12/14/23 12/14/23 12/14/23

12/29/23 12/15/23 12/15/23 12/15/23

12/11/23 12/12/23 12/13/23

12/11/23 12/27/23 12/20/23

12/12/23 12/28/23 12/21/23

12/13/23 12/29/23 12/22/23

12/6/23 12/6/23 12/6/23

12/7/23 12/7/23 12/7/23

12/8/23 12/8/23 12/8/23

12/18/23 12/19/23 12/20/23

12/13/23 12/27/23 12/8/23 12/20/23 12/27/23

12/14/23 12/28/23 12/11/23 12/21/23 12/28/23

12/15/23 12/29/23 12/12/23 12/22/23 12/29/23

*Includes special ordinary income distribution above the normal monthly dividend.

Changes in market conditions, portfolio changes and changes in fund shares outstanding could materially affect these estimates. Eaton Vance mutual funds not listed above are not expected to make capital gain distributions or special income distributions in 2023, however there is a possibility that a fund not listed could make an income or capital gain distribution if conditions change.

This material is for informational purposes only and is not a recommendation to purchase or sell specific securities. No Fund is a complete investment program and you may lose money investing in a Fund.

Before investing, investors should consider carefully the investment objectives, risks, charges and expenses of the Fund. This and other important information is contained in the prospectus and summary prospectus, which can be obtained from a financial advisor. Prospective investors should read the prospectus carefully before investing.

NOT FDIC INSURED | OFFER NO BANK GUARANTEE | MAY LOSE VALUE | NOT INSURED BY ANY FEDERAL GOVERNMENT AGENCY | NOT A DEPOSIT

Continued on next page

Eaton Vance and Calvert

Estimated year-end distributions

Set forth below are preliminary estimates of the ordinary income and capital gains expected to be distributed by certain Eaton Vance mutual funds and the anticipated dates on which such distributions will be made. The amounts and the timing of the distributions are subject to change. These estimates are provided for informational purposes only and should not be relied on as investment or tax advice. Information about the tax treatment of actual 2023 Fund distributions will be provided to shareholders in February 2024.

Estimates as of 8/31/23

Eaton Vance Fund Name

Parametric International Equity Fund Parametric Tax-Managed Emerging Markets Fund Parametric Tax-Managed International Equity Fund Parametric Volatility Risk Premium - Defensive Fund Richard Bernstein All Asset Strategy Fund Richard Bernstein Equity Strategy Fund Short Duration Government Income Fund Small-Cap Fund Stock Fund Tax-Managed Equity Asset Allocation Fund Tax-Managed Growth Fund 1.1 Tax-Managed Growth Fund 1.2 Tax-Managed Small-Cap Fund Tax-Managed Value Fund Worldwide Health Sciences Fund

Ordinary Income Range Per Share

0.33 - 0.43 1.41 - 1.61 0.22 - 0.32 0.27 - 0.37 0.25 - 0.35 0.04 - 0.14 0.00 - 0.07* 0.00 - 0.08 0.00 - 0.10 0.11 - 0.21 0.52 - 0.62 0.15 - 0.25 0.00 - 0.08 0.24 - 0.34 0.00 - 0.07

Ordinary Income % of NAV as of

10/6/23

2.55% - 3.31% 3.65% - 4.17% 1.97% - 2.86% 1.98% - 2.71% 1.93% - 2.71% 0.22% - 0.83% 0.00% - 1.00% 0.00% - 0.54% 0.00% - 0.51% 0.40% - 0.76% 0.61% - 0.72% 0.40% - 0.66% 0.00% - 0.30% 0.71% - 1.00% 0.00% - 0.56%

Short-Term Range Per Share

0.00 - 0.00 0.00 - 0.06 0.00 - 0.00 0.05 - 0.15 0.00 - 0.00 0.00 - 0.00 0.00 - 0.00 0.00 - 0.00 0.00 - 0.00 0.00 - 0.00 0.00 - 0.00 0.00 - 0.00 0.00 - 0.05 0.00 - 0.00 0.00 - 0.00

Short-Term % of NAV as of

10/6/23

0.00% - 0.00% 0.00% - 0.16% 0.00% - 0.00% 0.33% - 1.07% 0.00% - 0.00% 0.00% - 0.00% 0.00% - 0.00% 0.00% - 0.00% 0.00% - 0.00% 0.00% - 0.00% 0.00% - 0.00% 0.00% - 0.00% 0.00% - 0.20% 0.00% - 0.00% 0.00% - 0.00%

Long-Term Range Per Share

0.00 - 0.00 0.78 - 0.88 0.00 - 0.00 0.22 - 0.32 0.00 - 0.00 0.96 - 1.16 0.00 - 0.00 0.28 - 0.38 1.62 - 1.82 0.00 - 0.09 0.00 - 0.00 0.00 - 0.00 0.49 - 0.59 1.29 - 1.49 0.14 - 0.24

Long-Term % of NAV as of

10/6/23

0.00% - 0.00% 2.01% - 2.26% 0.00% - 0.00% 1.65% - 2.38% 0.00% - 0.00% 5.89% - 7.12% 0.00% - 0.00% 2.02% - 2.74% 8.31% - 9.34% 0.00% - 0.32% 0.00% - 0.00% 0.00% - 0.00% 1.86% - 2.23% 3.81% - 4.41% 1.09% - 1.86%

Dividend Record Date

12/27/23 12/27/23 12/27/23 12/20/23 12/27/23 12/27/23 12/18/23 12/11/23 12/20/23 12/27/23 12/18/23 12/18/23 12/18/23 12/18/23 12/6/23

Ex-Dividend Date

12/28/23 12/28/23 12/28/23 12/21/23 12/28/23 12/28/23 12/19/23 12/12/23 12/21/23 12/28/23 12/19/23 12/19/23 12/19/23 12/19/23 12/7/23

Payable Date

12/29/23 12/29/23 12/29/23 12/22/23 12/29/23 12/29/23 12/20/23 12/13/23 12/22/23 12/29/23 12/20/23 12/20/23 12/20/23 12/20/23 12/8/23

*Includes special ordinary income distribution above the normal monthly dividend. Changes in market conditions, portfolio changes and changes in fund shares outstanding could materially affect these estimates. Eaton Vance mutual funds not listed above are not expected to make capital gain distributions or special income distributions in 2023, however there is a possibility that a fund not listed could make an income or capital gain distribution if conditions change. This material is for informational purposes only and is not a recommendation to purchase or sell specific securities. No Fund is a complete investment program and you may lose money investing in a Fund. Before investing, investors should consider carefully the investment objectives, risks, charges and expenses of the Fund. This and other important information is contained in the prospectus and summary prospectus, which can be obtained from a financial advisor. Prospective investors should read the prospectus carefully before investing.

NOT FDIC INSURED | OFFER NO BANK GUARANTEE | MAY LOSE VALUE | NOT INSURED BY ANY FEDERAL GOVERNMENT AGENCY | NOT A DEPOSIT

Estimated year-end distributions

Eaton Vance and Calvert

Set forth below are preliminary estimates of the ordinary income and capital gains expected to be distributed by certain Calvert mutual funds and the anticipated dates on which such distributions will be made. The amounts and the timing of the distributions are subject to change. These estimates are provided for informational purposes only and should not be relied on as investment or tax advice. Information about the tax treatment of actual 2023 Fund distributions will be provided to shareholders in February 2024.

Estimates as of 8/31/23

Calvert Fund Name

Ordinary Income

Ordinary Income % of NAV as

Short-Term

Range Per Share

of 10/2/23

Range Per Share

Short-Term % of NAV as of

10/2/23

Long-Term Range Per Share

Long-Term % of NAV as of

10/2/23

Dividend

Record Ex-Dividend Payable

Date

Date

Date

Calvert Emerging Markets Advancement Fund

0.26 - 0.36

2.56% - 3.56%

0.00 - 0.00 0.00% - 0.00% 0.00 - 0.00 0.00% - 0.00% 12/20/23 12/21/23 12/22/23

Calvert Emerging Markets Equity Fund

0.08 - 0.18

0.52% - 1.17%

0.00 - 0.00 0.00% - 0.00% 0.00 - 0.00 0.00% - 0.00% 12/20/23 12/21/23 12/22/23

Calvert Equity Fund

0.16 - 0.26

0.21% - 0.34%

0.17 - 0.27

0.23% - 0.36%

0.70 - 0.80

0.93% - 1.06% 12/13/23 12/14/23 12/15/23

Calvert Focused Value Fund

0.06 - 0.16

0.59% - 1.63%

0.11 - 0.21

1.14% - 2.18%

0.00 - 0.06

0.00% - 0.59% 12/20/23 12/21/23 12/22/23

Calvert Global Energy Solutions Fund

0.06 - 0.16

0.63% - 1.59%

0.00 - 0.00 0.00% - 0.00% 0.00 - 0.00 0.00% - 0.00% 12/20/23 12/21/23 12/22/23

Calvert Global Equity Fund1

0.01 - 0.11

0.05% - 0.75%

0.01 - 0.11

0.06% - 0.76%

0.00 - 0.07

0.00% - 0.46% 12/27/23 12/28/23 12/29/23

Calvert Global Small Cap Equity Fund2

0.01 - 0.11

0.10% - 0.91%

0.00 - 0.00 0.00% - 0.00% 0.00 - 0.00 0.00% - 0.00% 12/20/23 12/21/23 12/22/23

Calvert Global Water Fund

0.28 - 0.38

1.12% - 1.52%

0.00 - 0.00

0.00% - 0.00%

0.20 - 0.30

0.79% - 1.19% 12/20/23 12/21/23 12/22/23

Calvert Growth Allocation Fund

0.30 - 0.40

1.35% - 1.80%

0.00 - 0.00 0.00% - 0.00%

0.68 - 0.78

3.00% - 3.44% 12/27/23 12/28/23 12/29/23

Calvert International Equity Fund

0.15 -0.25

0.74% - 1.22%

0.00 - 0.00 0.00% - 0.00% 0.00 - 0.00 0.00% - 0.00% 12/20/23 12/21/23 12/22/23

Calvert International Opportunities Fund

0.27 - 0.37

1.80% - 2.47%

0.00 - 0.00 0.00% - 0.00% 0.00 - 0.00 0.00% - 0.00% 12/20/23 12/21/23 12/22/23

Calvert International Responsible Index Fund

0.55 -0.65

2.13% - 2.52%

0.00 - 0.00 0.00% - 0.00% 0.00 - 0.00 0.00% - 0.00% 12/20/23 12/21/23 12/22/23

Calvert Mid-Cap Fund

0.00 - 0.05

0.00% - 0.16%

0.00 - 0.00 0.00% - 0.00% 0.00 - 0.00 0.00% - 0.00% 12/13/23 12/14/23 12/15/23

Calvert Moderate Allocation Fund

0.00 - 0.00 0.00% - 0.00% 0.00 - 0.00 0.00% - 0.00%

0.83 - 0.93

4.26% - 4.78% 12/27/23 12/28/23 12/29/23

Calvert Small Cap Fund

0.02 - 0.12

0.06% - 0.40%

0.00 - 0.00

0.00% - 0.00%

0.00 - 0.00

0.00% - 0.00% 12/13/23 12/14/23 12/15/23

Calvert Small/Mid-Cap Fund3

0.00 - 0.00 0.00% - 0.00% 0.00 - 0.00 0.00% - 0.00%

0.24 - 0.34

1.06% - 1.50% 12/11/23 12/12/23 12/13/23

Calvert U.S. Large Cap Core Responsible Index Fund

0.35 - 0.45

0.93% - 1.20%

0.00 - 0.00 0.00% - 0.00% 0.00 - 0.00 0.00% - 0.00% 12/13/23 12/14/23 12/15/23

Calvert U.S. Large Cap Growth Responsible Index Fund 0.22 - 0.32

0.47% - 0.67%

0.00 - 0.00 0.00% - 0.00% 0.00 - 0.00 0.00% - 0.00% 12/13/23 12/14/23 12/15/23

Calvert U.S. Large Cap Value Responsible Index Fund

0.53 - 0.63

1.98% - 2.35%

0.00 - 0.00 0.00% - 0.00% 0.00 - 0.00 0.00% - 0.00% 12/13/23 12/14/23 12/15/23

1 Prior to 09/15/2023, the Fund was called Eaton Vance Focused Global Opportunities Fund and employed a different principal investment strategy. Please see prospectus for more details.

2 Prior to 09/15/2023, the Fund was called Eaton Vance Global Small-Cap Equity Fund and employed a different principal investment strategy. Please see prospectus for more details.

3 Prior to 09/15/2023, the Fund was called Eaton Vance Special Equities Fund and employed a different principal investment strategy. Please see prospectus for more details.

Changes in market conditions, portfolio changes and changes in fund shares outstanding could materially affect these estimates. Calvert mutual funds not listed above are not expected to make capital gain distributions or special income distributions in 2023, however there is a possibility that a fund not listed could make an income or capital gain distribution if conditions change.

This material is for informational purposes only and is not a recommendation to purchase or sell specific securities. No Fund is a complete investment program and you may lose money investing in a Fund.

Before investing, investors should consider carefully the investment objectives, risks, charges and expenses of the Fund. This and other important information is contained in the prospectus and summary prospectus, which can be obtained from a financial advisor. Prospective investors should read the prospectus carefully before investing.

NOT FDIC INSURED | OFFER NO BANK GUARANTEE | MAY LOSE VALUE | NOT INSURED BY ANY FEDERAL GOVERNMENT AGENCY | NOT A DEPOSIT

Continued on next page

Estimated year-end distributions

Eaton Vance and Calvert

Set forth below are preliminary estimates of the ordinary income and capital gains expected to be distributed by certain Calvert mutual funds and the anticipated dates on which such distributions will be made. The amounts and the timing of the distributions are subject to change. These estimates are provided for informational purposes only and should not be relied on as investment or tax advice. Information about the tax treatment of actual 2023 Fund distributions will be provided to shareholders in February 2024.

Estimates as of 8/31/23

Calvert Fund Name Calvert U.S. Mid Cap Core Responsible Index Fund

Ordinary Income Range Per Share

0.32 - 0.42

Ordinary Income % of NAV as of 10/2/23

0.97% -1.27%

Short-Term Range Per Share

0.00 - 0.00

Short-Term % of NAV as of

10/2/23

0.00% - 0.00%

Long-Term Range Per Share

0.00 - 0.00

Long-Term % of NAV as of

10/2/23

0.00% - 0.00%

Dividend Record Date

12/13/23

Ex-Dividend Date

12/14/23

Payable Date

12/15/23

Changes in market conditions, portfolio changes and changes in fund shares outstanding could materially affect these estimates. Calvert mutual funds not listed above are not expected to make capital gain distributions or special income distributions in 2023, however there is a possibility that a fund not listed could make an income or capital gain distribution if conditions change. This material is for informational purposes only and is not a recommendation to purchase or sell specific securities. No Fund is a complete investment program and you may lose money investing in a Fund. Before investing, investors should consider carefully the investment objectives, risks, charges and expenses of the Fund. This and other important information is contained in the prospectus and summary prospectus, which can be obtained from a financial advisor. Prospective investors should read the prospectus carefully before investing.

NOT FDIC INSURED | OFFER NO BANK GUARANTEE | MAY LOSE VALUE | NOT INSURED BY ANY FEDERAL GOVERNMENT AGENCY | NOT A DEPOSIT

Eaton Vance and Calvert

Capital gains distribution Q&A

Answers to help understand capital gains and how they are distributed.

At the end of each year, mutual funds distribute capital gains to their shareholders. These distributions are the difference between gains that arise when securities that have appreciated in value are sold and the losses from sales of securities that have depreciated in value. This Q&A seeks to answer important questions shareholders may have about capital gains distributions for 2023.

Eaton Vance does not provide legal or tax advice. This Q&A is provided for informational purposes only. There is no guarantee as to its accuracy or completeness. Individuals should consult their own legal and tax counsel as to matters discussed.

Why are capital gain distributions made to shareholders each year? Mutual funds are not subject to federal income tax on the portion of capital gains distributed to shareholders. A mutual fund is required annually to distribute substantially all of its net investment income in the form of dividends and net realized capital gains, per IRS rules. Distributions are then subject to tax when paid to shareholders and are included in a shareholder's income tax return. Capital gain distributions received in a tax-deferred account are not taxable in the current year.

How are the amounts of the capital gains determined? Distributions are generally based on the capital gains the fund realizes from November 1 of the previous year to October 31 of the current year. If this annual period does not correspond with the fund's fiscal year, distributions will be either gains realized during the fiscal year or those realized during the excise tax measurement period, whichever is greater.

Why are capital gains distributed if the market declines/if the mutual fund has a negative performance? Regardless of whether a mutual fund posted a positive or negative return for the year, the fund will distribute any net realized capital gains in order to qualify for special tax treatment by the IRS. While losses from the sales of securities may be used to offset realized gains from sales of other securities, any net capital gain will be distributed to shareholders.

When a capital gain is distributed, do shareholders lose money? No. On the date of the distribution, the net asset value of the fund will drop by the amount paid to shareholders. This is why a fund's price per share generally falls when distributions are made. Unless a shareholder receives a distribution in cash, the value of a shareholder's account is not affected by a capital gain distribution.

Do portfolio managers try to reduce gains by realizing losses? Our focus is on the long-term performance of the fund for our shareholders. Portfolio management decisions are based on investment merits. Portfolio managers will not sell a security with sole purpose of realizing a loss. Instead, decisions to sell securities are based on the analysis of investment prospects. However, when we do decide to sell a security, we attempt to do so in a tax-advantageous manner.

For our tax-managed funds, buy and sell decisions are made by balancing investment considerations and tax considerations, and taking into account the taxes payable by shareholders in connection with distributions of investment income and net realized gains. These funds seek to minimize income distributions and distributions of realized short-term gains that are taxed as ordinary income, as well as distributions of realized long-term gains (taxed as long-term capital gains).

Changes in market conditions, portfolio changes and changes in fund shares outstanding could materially affect these estimates. Eaton Vance or Calvert mutual funds not listed above are not expected to make capital gain distributions or special income distributions in 2023, however there is a possibility that a fund not listed could make an income or capital gain distribution if conditions change.

This material is for informational purposes only and is not a recommendation to purchase or sell specific securities. No Fund is a complete investment program and you may lose money investing in a Fund.

Before investing, investors should consider carefully the investment objectives, risks, charges and expenses of the Fund. This and other important information is contained in the prospectus and summary prospectus, which can be obtained from a financial advisor. Prospective investors should read the prospectus carefully before investing.

?2023 Morgan Stanley. Eaton Vance Distributors, Inc. | Two International Place, Boston, MA 02110 | 800.836.2414 | NOT FDIC INSURED | OFFER NO BANK GUARANTEE | MAY LOSE VALUE | NOT INSURED BY ANY FEDERAL GOVERNMENT AGENCY | NOT A DEPOSIT

4878 | 10.10.23

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