August 1, 2020 Voya Separate Portfolios Trust Suite 100 Scottsdale, AZ 85258 Ladies and Gentlemen:

(d)(1)(v)

August 1, 2020

Voya Separate Portfolios Trust

0000 X. Xxxxxxxxxx Xxxxx Xxxx

Suite 100

Scottsdale, AZ 85258

Ladies and Gentlemen:

By this letter dated August 1, 2020, we have agreed to waive the management fee payable to us under the Investment Management Agreement, dated November 18, 2014, as amended and restated on May 1, 2015 (the "Agreement"), between Voya Investments, LLC and Voya Separate Portfolios Trust ("VSPT"), with respect to Class P shares of Voya Securitized Credit Fund (the "Fund"), a series of VSPT. Such waiver will be in an amount equal to the management fees allocated to, and otherwise payable by, the Class P shares of the Fund, thereby reducing the post- waiver fee rate payable by the Class P shares to 0.00%.

By this letter, we agree to waive the management fee for the period from August 1, 2020 through August 1, 2021.

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

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August 1, 2020

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

Very sincerely,

By: /s/ Xxxx Xxxxx

Xxxx Xxxxx

Senior Vice President

Voya Investments, LLC

Agreed and Accepted:

Voya Separate Portfolios Trust

(on behalf of the Fund)

By:	/s/ Xxxxxxxx X. Xxxxxxxx
	Xxxxxxxx X. Xxxxxxxx
	Senior Vice President