Virtus Total Return Fund Inc. (NYSE:ZTR) (the "Fund") today announced final results of its previously announced tender offer to acquire up to 10% of its outstanding shares, which expired December 3, 2025 at 5:00 p.m. (Eastern).

The Fund accepted 5,554,844 shares, representing 10% of its outstanding shares, for payment on or about December 9, 2025. A total of 14,916,518 shares were properly tendered. Therefore, on a prorated basis, approximately 37.25% of the shares tendered by each tendering stockholder have been accepted for payment.

The purchase price of the accepted shares is 98% of the Fund's net asset value per share determined as the close of regular trading session of the New York Stock Exchange on December 3, 2025, which is equal to $6.9874 per share.

About the Fund

Virtus Total Return Fund Inc. is a diversified closed-end fund whose investment objective is capital appreciation, with income as a secondary objective. Virtus Investment Advisers, LLC is the investment adviser and Duff & Phelps Investment Management Co. and Newfleet Asset Management are the subadvisers to the Fund. For more information about the Fund, contact shareholder services at (866) 270-7788, by email at closedendfunds@virtus.com, or through the Closed-End Funds section of virtus.com.

Fund Risks

An investment in a fund is subject to risk, including the risk of possible loss of principal. A fund's shares may be worth less upon their sale than what an investor paid for them. Shares of closed-end funds may trade at a premium or discount to their NAV. For more information about the Fund's investment objective and risks, please see the Fund's annual report. A copy of the Fund's most recent annual report may be obtained free of charge by contacting "Shareholder Services" as set forth at the bottom of this press release.

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For Further Information:

Shareholder Services

(866) 270-7788

closedendfunds@virtus.com

Virtus Total Return Fund Inc. Announces Final Results of Tender Offer