James E. Craige, CFA

David Griffiths

Angus Halkett, CFA

David A. Oliver, CFA

William Perry

David Scott

Date: March 19, 2015 at 4:15pm EST

Toll Free Dial-In number: 866.395.6628

Conference ID: 99883936

Peter J. Wilby, Pablo Cisilino, James E. Craige, David A. Oliver and William Perry are registered representatives of ALPS Distributors, Inc.

Stone Harbor is a global fixed income investment management firm focused on credit risk strategies and asset allocation. Recently, the firm was named Institutional Investor magazine’s 2013 Emerging Market Debt Manager of the Year. Institutional Investor magazine’s U.S. Investment Management Awards recognize U.S. money managers in more than 34 asset classes and strategies who stood out in the eyes of the investor community for their exceptional performance, risk management and service. Institutional Investor analyzed the data in the asset classes, reviewing 2012 returns, 3-year annualized returns, asset size, standard deviations and Sharpe and Sortino ratios. From that analysis, Institutional Investor culled a list of the top 10 to 20 U.S. money managers in each category for a questionnaire that was distributed to more than 1000 institutional investors, including, among others, defined-benefit pension funds and endowments / foundations (some of which may have included current or former clients of Stone Harbor), who were asked to choose the top 3 managers in each category from the pre-selected list or to ‘write-in’ nominations. Manager winners were selected by the editors of the magazine based on the results of the survey after a 4-week polling period and were announced in March 2013. The award may not be representative of any one client’s experience and is not indicative of Stone Harbor’s future performance.

IMPORTANT LEGAL DISCLOSURES

This material is solely for informational purposes. Neither material nor any information provided during the conference call shall constitute an offer to sell or the solicitation to buy any security or investment advisory services. Nothing contained herein constitutes investment, legal, tax or other advice nor is it to be relied on in making an investment or other decisions. Information contained herein is only current as of the date indicated and may be superseded by subsequent market events or for other reasons. Statements concerning financial market trends are based on current market conditions, which will fluctuate. Investing entails risks, including the loss of principal.

There is no assurance that Stone Harbor Emerging Markets Income Fund or Stone Harbor Emerging Markets Total Income Fund (each a Fund and together the Funds) will achieve its investment objective. An investor should consider, among other things, the Fund’s investment objective, risks, charges and expenses carefully before investing.

Each Fund is a non-diversified, closed-end management investment company that is managed by Stone Harbor.

Stone Harbor Emerging Markets Income Fund’s primary investment objective is to maximize total return, which consists of income and capital appreciation. There is no assurance that the Fund will achieve its investment objective. The Fund normally will invest at least 80% of its net assets (plus borrowings for investment purposes) in emerging markets securities (the 80% policy), which include fixed income securities and other instruments (including derivatives) that are economically tied to emerging market countries, that are denominated in the predominant currency of the local market of an emerging market country or whose performance is linked to those countries’ markets, currencies, economies or ability to repay loans. A security or instrument is economically tied to an emerging market country if it is principally traded on the country’s securities markets or if the issuer is organized or principally operates in the country, derives a majority of its income from its operations within the country or has a majority of its assets within the country.

Stone Harbor Emerging Markets Total Income Fund’s primary investment objective is to maximize total return, which consists of income and capital appreciation from investments in emerging markets securities. There is no assurance that the Fund will achieve its investment objective. The Fund normally will invest at least 80% of its net assets (plus borrowings for investment purposes) in Emerging Markets Debt. Emerging Markets Debt includes fixed income securities and other instruments (including derivatives) that are economically tied to emerging market countries, that are denominated in the predominant currency of the local market of an emerging market country or whose performance is linked or otherwise related to those countries’ markets, currencies, economies or ability to repay loans. The Fund normally expects to invest up to 20% of its total assets in Emerging Markets Equity. Emerging Markets Equity includes securities issued by either single country or regional exchange-traded funds, common stocks, preferred stocks, other equity securities and other instruments (including derivatives) that are economically tied to the equity markets of emerging market countries, that are denominated in the predominant currency of the local market of an emerging market country or whose performance is linked or otherwise related to those countries’ markets, currencies, or economies. Stone Harbor does not have an established performance record investing in equity securities.

Investing in a Fund involves risks, including the risk that you may receive little or no return on your investment and that you may lose part or even all of your investment.

The Funds are closed-end funds and closed-end funds do not continuously issue shares for sale as open-end mutual funds do. Stone Harbor Emerging Markets Income Fund and Stone Harbor Emerging Markets Total Income Fund trade on the New York Stock Exchange under the symbol EDF and EDI, respectively. Investors wishing to buy or sell shares need to place orders through an intermediary or broker.

The Fund should be considered as only one element of a complete investment program. An investment in the Fund should be considered speculative. Closed-end funds frequently trade at a discount to their net asset values.

For more complete information, please call 1-877.206.0791, option 1 (toll-free) or visit the Fund’s website - www.shiplpcef.com .