Company: NMZ
Filing Date: 2025-11-18
Form Type: N-14 8C/A
Source: 0001999371-25-018025
Chunk: 84

Company: NUVEEN MUNICIPAL HIGH INCOME OPPORTUNITY FUND
Filing Date: 2025-11-18
Form: N-14 8C/A
Chunk 84
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, divided by common shares outstanding)                                                                                                   | $ |        11.75 |   | $ |          9.96 |   |   |              |      | $ |          9.96 |   |
| Authorized shares:                                                                                                                                                                                                            
 Common                                                                                                                                                                                                                        |   |    Unlimited |   |   |     Unlimited |   |   |              |      |   |     Unlimited |   |

| (1) | The pro forma balances are presented as if the Merger was effective as of July 31, 2025, and are presented for informational purposes            
 only. The actual closing date of the Merger is expected to be on or about February 9, 2026, or such later time agreed to by the parties at which 
 time the results would be reflective of the actual composition of shareholders’ equity as of that date. All pro forma adjustments                
 are directly attributable to the Merger.                                                                                                         |

| (2) | Reflects the assumed redemption of preferred shares to maintain the desired leverage for the Combined Fund Pro Forma. |

| (3) | Assumes the issuance of 43,805,341 Acquiring Fund common shares to shareholders of Pennsylvania Municipal. This number is based on         
 the net asset value of shares of each Fund as of July 31, 2025, adjusted for estimated Merger costs and the effect of distributions, where 
 applicable.                                                                                                                                |

| (4) | Includes the impact of estimated total Merger costs of $1,125,000, which are expected to be borne by Pennsylvania Municipal and the 
 Acquiring Fund in the amounts of $1,090,000 and $35,000, respectively.                                                              |

<div align='center'>46

4. Capitalization Table—Merger of Missouri Municipal Only</div>

The table reflects a pro forma exchange ratio of approximately 1.01566517 common shares of the Acquiring Fund issued for each common share of Missouri Municipal. If the Merger is consummated, the actual exchange ratio may vary.

| Preferred Shares:                                                                                                                                                                                                        |   |   Missouri 
  Municipal |   |   |     Acquiring 
          Fund |   |   |   Pro Forma 
 Adjustments |      |   |      Combined 
      Fund Pro 
      Forma(1) |   |
|:-------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|:--|-----------:|:--|:--|--------------:|:--|:--|------------:|-----:|:--|--------------: