Company: NPFD
Filing Date: 2025-03-04
Form Type: DEF 14A
Source: 0001193125-25-045745
Chunk: 13

Company: Nuveen Variable Rate Preferred & Income Fund
Filing Date: 2025-03-04
Form: DEF 14A
Chunk 13
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 elected and qualified. Loren M. Starr, currently a consultant to the Board, is a nominee for election at the Annual Meeting as a Class III Board Member to serve for a term expiring at 
 the 2027 annual meeting of shareholders or until his successor has been duly elected and qualified.                                                                                                                                                  |

| (e) | For Core Equity Alpha, Dow Dynamic Overwrite, Global High Income, Mortgage & Income, NASDAQ Dynamic                                                                                                                                                      
 Overwrite, Real Estate Income, S&P Buy Write and S&P Dynamic Overwrite: four (4) Board Members are to be elected by all shareholders. Current Board Members Forrester, Kenny, Wolff and Young are Class I Board Members and are                          
 nominees for election at the Annual Meeting to serve for a term expiring at the 2028 annual meeting of shareholders or until their successors have been duly elected and qualified. Board Members Boateng, Lancellotta, Medero, Moschner, Nelson, Starr, 
 Thornton and Toth are current and continuing Board Members. Board Members Boateng, Lancellotta, Nelson and Toth are Class II Board Members with a term expiring at the 2026 annual meeting of shareholders or until their successors have been duly      
 elected and qualified. Board Members Medero,                                                                                                                                                                                                             |

8

| Moschner, Starr and Thornton are Class III Board Members with a term expiring at the 2027 annual meeting of shareholders or until their successors have been duly elected and qualified. |

It is the intention of the persons named in the enclosed proxy to vote the shares represented thereby for the election of the nominees listed in
the table below unless the proxy is marked otherwise. Each of the nominees has agreed to serve as a Board Member of each Fund if elected. However, should any nominee become unable to serve or for good cause will not serve, the proxies will be voted
for substitute nominees, if any, designated by that Fund’s current Board.

Last Election/Appointment of Board Members

All Funds Other Than Core Plus Impact, Multi-Asset Income, Multi-Market Income, Real Asset and Variable Rate Preferred & Income

ClassI Board Members: For each Fund, Board Member Young was last elected to the Fund’s Board as a Class I Board Member at the annual
meeting of shareholders held on May 8, 2023. For each Fund that does not have Preferred Shares outstanding, Board Member Wolff was last elected to the Fund’s Board as a Class I Board Member at the annual meeting of shareholders held
on April 8,