Company: ETY
Filing Date: 2025-02-19
Form Type: 424B5
Source: 0001193125-25-029518
Chunk: 192

Company: Eaton Vance Tax-Managed Diversified Equity Income Fund
Filing Date: 2025-02-19
Form: 424B5
Chunk 192
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 filing of such reports with the SEC.

### INDEPENDENT REGISTERED PUBLIC ACCOUNTING FIRM
Deloitte & Touche LLP (“Deloitte”), 115 Federal Street, Suite 15, Boston, Massachusetts 02110-1894, independent registered public accounting firm, audits the Fund’s financial statements. Deloitte and/or its affiliates provide other audit and related services to the Fund.

### CONTROL PERSONS AND PRINCIPAL HOLDERS OF SECURITIES
As of January 31, 2025, the officers and Trustees of the Fund as a group owned less than 1% of the outstanding shares of the Fund.

According to filings made on Schedule 13D and 13G pursuant to Sections 13(d) and 13(g), respectively, of the Securities Exchange Act of 1934, as amended, the following shareholders own 5% or more of the Fund’s Common Shares. Information in the table below is based on filings made on or before January 31, 2025. To the knowledge of the Fund, no other person owned 5% or more of the outstanding Common Shares of the Fund as of such date. Owners of 25% or more of common shares of a fund are presumed to be a control person of such fund.

| Title of Class |     | Name and Address of Owner                                                       |     | Aggregate Share Amount Owned |            |     | Percent |      |   |
| Common Shares  |     | Morgan Stanley Morgan Stanley Smith Barney LLC 1585 Broadway New York, NY 10036 |     |                              | 11,691,878 |     |         | 7.40 | % |

### POTENTIAL CONFLICTS OF INTEREST
As a diversified global financial services firm, Morgan Stanley, the parent company of the Adviser, engages in a broad spectrum of activities, including financial advisory services, investment management activities, lending, commercial banking, sponsoring and managing private investment funds, engaging in broker-dealer transactions and principal securities, commodities and foreign exchange transactions, research publication and other activities. In the ordinary course of its business, Morgan Stanley is a full-service investment banking and financial services firm and therefore engages in activities where Morgan Stanley’s interests or the interests of its clients may conflict with the interests of a Fund. Morgan Stanley advises clients and sponsors, manages or advises other investment funds and investment programs, accounts and businesses (collectively, together with any new or successor funds, programs, accounts or businesses sponsored, managed, or advised by the Adviser or