Company: NPFD
Filing Date: 2025-10-03
Form Type: N-CSR
Source: 0001193125-25-230111
Chunk: 174

Company: Nuveen Variable Rate Preferred & Income Fund
Filing Date: 2025-10-03
Form: N-CSR
Chunk 174
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 manager for Nuveen’s global fixed income team and a member of the preferred securities sector team. She is the lead manager for Nuveen’s preferred and income-focused closed-endfunds and portfolio manager of the Preferred Securities and Income strategy. Brenda is also co-managerfor the Real Asset Income strategy since 2015, which invests in income generating debt and equity securities from both the real estate and infrastructure segments, and in 2020 she became co-managerof the Credit Income strategy. Brenda joined the preferred securities sector team in 2011. Prior to her portfolio management roles, Brenda was a member of the high-grade credit sector team, responsible for trading corporate bonds. Previously, she was a member of the securitized debt sector team, trading mortgage-backed securities, asset-backed securities and commercial mortgage-backed securities. (a)(2) Other Accounts Managed by Portfolio Managers Other Accounts Managed. In addition to managing the registrant, the Portfolio Managers are also primarily responsible for the day-to-dayportfolio management of the following accounts:

| Portfolio Manager |     | Type of Account                  
 Managed                          |     | Number of 
 Accounts  |       |     | Assets*         |
| Douglas Baker     |     | Registered Investment Company    |     |           |     7 |     | $11.74 billion  |
|                   |     | Other Pooled Investment Vehicles |     |           |     1 |     | $273.25 million |
|                   |     | Other Accounts                   |     |           | 4,332 |     | $3.02 billion   |
| Brenda Langenfeld |     | Registered Investment Company    |     |           |    11 |     | $12.94 billion  |
|                   |     | Other Pooled Investment Vehicles |     |           |     2 |     | $46.11 million  |
|                   |     | Other Accounts                   |     |           | 4,336 |     | $4.42 billion   |

Potential Material Conflicts of Interest

Actual or apparent conflicts of interest may arise when a portfolio manager has
day-to-day management responsibilities with respect to more than one account. More specifically, portfolio managers who manage multiple accounts are presented a number
of potential conflicts, including, among others, those discussed below.

The management of multiple accounts may result in a portfolio manager devoting
unequal time and attention to the management of each account. Nuveen Asset Management seeks to manage such competing interests for the time and attention of portfolio managers by having