Company: NMZ
Filing Date: 2025-11-18
Form Type: N-14 8C/A
Source: 0001999371-25-018025
Chunk: 7

Company: NUVEEN MUNICIPAL HIGH INCOME OPPORTUNITY FUND
Filing Date: 2025-11-18
Form: N-14 8C/A
Chunk 7
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,                 
 fractional Acquiring Fund common shares to which common shareholders would be entitled)          
 will be equal to the aggregate net asset value of the common shares of such Target Fund          
 held by its shareholders as of such time. Fractional Acquiring Fund common shares due            
 to Target Fund common shareholders will be aggregated and sold on the open market, and           
 Target Fund common shareholders will receive cash in lieu of such fractional shares.             |

Following the Mergers, common shareholders of each Fund will hold a smaller percentage of the outstanding common shares of the combined fund as compared to their percentage holdings of their respective Fund prior to the Mergers.

| Q. | Will                                                       
 management of the Funds change as a result of the Mergers? |

| A. | Nuveen                                                                                         
 Fund Advisors currently serves as the investment adviser of each Fund and Nuveen Asset         
 Management, a wholly owned subsidiary of Nuveen Fund Advisors, currently serves as sub-adviser 
 to each Fund. Nuveen Asset Management manages the portfolios of the Funds using a team         
 of analysts and portfolio managers that focus on a specific group of funds. Paul L. Brennan,   
 CFA, and Steve M. Hlavin are the portfolio managers of New Jersey Municipal and Pennsylvania   
 Municipal. Michael Hamilton and Stephen J. Candido, CFA, are the portfolio managers of         
 Missouri Municipal. Daniel Close, CFA, Stephen Candido, CFA and Steve M. Hlavin are the        
 portfolio managers of the Acquiring Fund. The Acquiring Fund will continue to be managed       
 by Nuveen Asset Management and Daniel Close, CFA, Stephen Candido, CFA and Steve M. Hlavin,    
 after the completion of the Mergers.                                                           |

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| Q. | What                                                                
 will happen if the required shareholder approvals are not obtained? |

| A. | The                                                                                            
 closing of each Merger is subject to the satisfaction or waiver of certain closing conditions, 
 which include customary closing conditions. For a Merger to occur, all requisite shareholder   
 approvals must be obtained at the applicable Fund’s shareholder meeting and certain            
 other consents, confirmations and/or waivers from various third parties, including the         
 initial purchasers with respect to outstanding preferred shares of the Acquiring Fund,         
 must also be obtained. Because the closing of each Merger is contingent upon the applicable    
 Target Fund and the Acquiring Fund obtaining such shareholder approvals and satisfying         
 (or obtaining the waiver