0000930413-23-002500 Sample Contracts

VIRTUS EQUITY TRUST Virtus SGA Emerging Markets Equity Fund FORM OF SUBADVISORY AGREEMENT
Subadvisory Agreement • November 28th, 2023 • Virtus Opportunities Trust • Delaware

Virtus Opportunities Trust (the “Trust”) is an open-end investment company of the series type registered under the Investment Company Act of 1940, as amended (the “Act”), and is subject to the rules and regulations promulgated thereunder. The shares of the Trust are offered or may be offered in several series, including Virtus SGA Emerging Markets Equity Fund (sometimes hereafter referred to as the “Series”).

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FORM OF FORTY-SIXTH AMENDED AND RESTATED EXPENSE LIMITATION AGREEMENT
Expense Limitation Agreement • November 28th, 2023 • Virtus Opportunities Trust • Delaware

This Forty-Sixth Amended and Restated Expense Limitation Agreement (the “Agreement”), effective as of December 27, 2023, amends and restates that certain Forty-Fifth Amended and Restated Expense Limitation Agreement effective as of January 1, 2023, by and between Virtus Opportunities Trust, a Delaware statutory trust (the “Registrant”), on behalf of each series of the Registrant listed in Appendix A (each a “Fund” and collectively, the “Funds”) and the Adviser of each of the Funds, Virtus Investment Advisers, Inc., a Massachusetts corporation (the “Adviser”).

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