Company: NPFD
Filing Date: 2025-10-03
Form Type: N-CSR
Source: 0001193125-25-230111
Chunk: 173

Company: Nuveen Variable Rate Preferred & Income Fund
Filing Date: 2025-10-03
Form: N-CSR
Chunk 173
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 Sub-Adviserto provide discretionary investment advisory services. As part of these services, the Adviser has delegated to the Sub-Adviserthe full responsibility for proxy voting on securities held in the registrant’s portfolio and related duties in accordance with the Sub-Adviser’spolicies and procedures. The Adviser periodically monitors the Sub-Adviser’svoting to ensure that it is carrying out its duties. The Sub-Adviser’sproxy voting policies and procedures are attached to this filing as an exhibit and incorporated herein by reference.

| Item 13. | Portfolio Managers of Closed-End Management Investment Companies. |

Nuveen Fund Advisors, LLC is the registrant’s investment adviser (also referred to as the “Adviser”). The Adviser is responsible for the selection and on-goingmonitoring of the Fund’s investment portfolio, managing the Fund’s business affairs and providing certain clerical, bookkeeping and administrative services. The Adviser has engaged Nuveen Asset Management, LLC (“Nuveen Asset Management” or “Sub-Adviser”)as Sub-Adviserto provide discretionary investment advisory services. The following section provides information on the portfolio managers at the Sub-Adviser: (a)(1) Portfolio Manager Biographies As of the date of filing this report, the following individuals at the Sub-Adviser(the “Portfolio Managers”) have primary responsibility for the day-to-dayimplementation of the registrant’s investment strategies: Douglas M. Baker, CFA, is a portfolio manager for Nuveen’s global fixed income team and heads the preferred securities sector team. He is a portfolio manager for the Preferred Securities strategies, as well as a co-portfoliomanager for the firm’s Multi-Sector strategies. Doug is also a member of the Investment Committee, which establishes investment policy for all global fixed income products. He has managed the Nuveen Preferred Securities and Income Fund since its inception in 2006 and the Strategic Income strategy since 2016. Doug also manages the firm’s municipal derivatives overlay group, where he is responsible for implementing derivatives-based hedging strategies across the Nuveen municipal bond complex. Doug joined the firm in 2006 as a vice president and derivatives analyst and later his responsibilities expanded to include portfolio management duties. Prior to Nuveen, he spent three years at Lehman Brothers in institutional fixed income and derivatives sales and five years at Bank of America in corporate and commercial banking. Brenda A. Langenfeld, CFA, is a portfolio