Company: JPC
Filing Date: 2025-06-10
Form Type: N-14 8C/A
Source: 0001999371-25-007489
Chunk: 72

Company: Nuveen Preferred & Income Opportunities Fund
Filing Date: 2025-06-10
Form: N-14 8C/A
Chunk 72
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. The actual 
 Closing Date of the Merger is expected to be on or about September 8, 2025, 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) | Assumes                                                                                    
 the issuance of 35,118,986 Acquiring Fund common shares to Target Fund common shareholders 
 in connection with the Merger. These numbers are based on the net asset values of the      
 Acquiring Fund and the Target Fund as of March 31, 2025, adjusted for estimated Merger     
 costs.                                                                                     |

| (3) | Includes                                                                                    
 the impact of estimated total Merger costs of $950,000 which are currently expected to      
 be borne by the Target Fund and the Acquiring Fund in the amounts of $700,000 and $250,000, 
 respectively.                                                                               |

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Expenses Associated with the Merger

The costs of the Merger are estimated to be $950,000, but the actual costs may be higher or lower than that amount. These costs represent the estimated nonrecurring expenses of the Funds in carrying out their obligations under the Agreement and consist of management’s estimate of professional service fees, printing costs and mailing charges related to the proposed Merger. Based on the expected benefits of the Merger to each Fund, each of the Target Fund and the Acquiring Fund is expected to be allocated $700,000 and $250,000 of the estimated expenses in connection with the Merger (0.23% and 0.01%, respectively, of the Target Fund’s and the Acquiring Fund’s average net assets applicable to common shares for the six months ended January 31, 2025). If the Merger is not consummated for any reason, including because the requisite shareholder approvals are not obtained, each of the Funds, and common shareholders of each of the Funds indirectly, will still bear the costs of the Merger.

The Funds have engaged Computershare Fund Services to assist in the solicitation of proxies at an estimated aggregate cost of $7,500 per Fund plus reasonable expenses, which is included in the foregoing estimate.

Dissenting Shareholders’ Rights of Appraisal

Under the charter documents of the Funds, shareholders do not have dissenters’ rights of appraisal with respect to their shares in connection with the Merger