Company: NMZ
Filing Date: 2025-11-18
Form Type: N-14 8C/A
Source: 0001999371-25-018025
Chunk: 168

Company: NUVEEN MUNICIPAL HIGH INCOME OPPORTUNITY FUND
Filing Date: 2025-11-18
Form: N-14 8C/A
Chunk 168
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|                                                                                | New       
 Jersey    
 Municipal | Pennsylvania 
 Municipal    | Missouri  
 Municipal | Acquiring 
 Fund      | Combined 
 Fund Pro 
 Forma    |
| Annual Expenses (as a percentage of net assets attributable to Managed Assets) |           |              |           |           |          |
| Management Fees                                                                | 0.97%     | 0.98%        | 1.03%     | 1.04%     | 1.02%    |
| Other Expenses                                                                 | 0.10%     | 0.11%        | 0.97%     | 0.08%     | 0.08%    |
| Total Annual Expenses                                                          | 1.07%     | 1.09%        | 2.00%     | 1.12%     | 1.10%    |

Certain Provisions in the Acquiring Fund’s Declaration of Trust and By-Laws

General

The by-laws of the Acquiring Fund provide
that by becoming a shareholder of the Fund, each shareholder shall be deemed to have agreed to be bound by the terms of the Declaration
of Trust and by-laws. However, neither the Declaration of Trust nor the by-laws purport to require the waiver of a shareholder’s
rights under the federal securities laws.

Shareholder and Trustee Liability

Under Massachusetts law, shareholders could,
under certain circumstances, be held personally liable for the obligations of the Acquiring Fund. However, the Acquiring Fund’s
declaration of trust contains an express disclaimer of shareholder liability for debts or obligations of the Acquiring Fund and
requires that notice of such limited liability be given in each obligation, contract or instrument made or issued by the Acquiring
Fund or the trustees. The Acquiring Fund’s declaration of trust further provides for indemnification out of the assets and
property of the Acquiring Fund for all loss and expense of any shareholder held personally liable for the obligations of the Acquiring
Fund. Thus, the risk of a shareholder incurring financial loss on account of shareholder liability is limited to circumstances
in which the Acquiring Fund would be unable to meet its obligations. The Acquiring Fund believes that the likelihood of such circumstances
is remote.

The Acquiring Fund’s declaration of
trust provides that the obligations of the Acquiring Fund are not binding upon the Acquiring Fund’s trustees individually,
but only upon the assets and property of the Acquiring Fund, and that the trustees will not be liable for errors