Company: NMZ
Filing Date: 2025-09-29
Form Type: N-14 8C
Source: 0001999371-25-014188
Chunk: 181

Company: NUVEEN MUNICIPAL HIGH INCOME OPPORTUNITY FUND
Filing Date: 2025-09-29
Form: N-14 8C
Chunk 181
---
 and excise taxes. Therefore, the Acquiring Fund may have to dispose of its portfolio
securities under disadvantageous circumstances to generate cash, or may have to leverage itself by borrowing the cash, to satisfy
these distribution requirements.

The Acquiring Fund may hold or acquire municipal
obligations that are market discount bonds. A market discount bond is a security acquired in the secondary market at a price below
its redemption value (or its adjusted issue price if it is also an original issue discount bond). If the Acquiring Fund invests
in a market discount bond, it will be required to treat any gain recognized on the disposition of such market discount bond as
ordinary taxable income to the extent of the accrued market discount.

The Acquiring Fund’s investment in
lower rated or unrated debt securities may present issues for the Acquiring Fund if the issuers of these securities default on
their obligations because the federal income tax consequences to a holder of such securities are not certain.

The Acquiring Fund may be required to withhold
federal income tax at a rate of 24% from all distributions (including exempt-interest dividends) and redemption proceeds payable
to a shareholder if the shareholder fails to provide the Acquiring Fund with his, her or its correct taxpayer identification number
or to make required certifications, or if the shareholder has been notified by the IRS (or the IRS notifies the Acquiring Fund)
that he, she or it is subject to backup withholding. Backup withholding is not an additional tax; rather, it is a way in which
the IRS ensures it will collect taxes otherwise due. Any amounts withheld may be credited against a shareholder’s federal
income tax liability.

<div align='center'>104</div>

The Foreign Account Tax Compliance Act (“FATCA”)
generally requires the Acquiring Fund to obtain information sufficient to identify the status of each of its shareholders. If a
shareholder fails to provide this information or otherwise fails to comply with FATCA, the Acquiring Fund may be required to withhold
under FATCA at a rate of 30% with respect to that shareholder on Acquiring Fund dividends and distributions and redemption proceeds.
The Acquiring Fund may disclose the information that it receives from (or concerning) its shareholders to the IRS, non-U.S. taxing
authorities or other parties as necessary to comply with FATCA, related intergovernmental agreements or other applicable law or
regulation. Investors are urged to consult their own tax advisers regarding the applicability of FATCA and any other reporting
requirements