Company: NMZ
Filing Date: 2025-09-29
Form Type: N-14 8C
Source: 0001999371-25-014188
Chunk: 84

Company: NUVEEN MUNICIPAL HIGH INCOME OPPORTUNITY FUND
Filing Date: 2025-09-29
Form: N-14 8C
Chunk 84
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 of Missouri 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.                                                                                                                            |

| (3) | Includes the impact of estimated total Merger costs of $95,000, which are expected to be borne by Missouri Municipal and the Acquiring 
 Fund in the amounts of $60,000 and $35,000, respectively.                                                                              |

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Expenses Associated with the Mergers

Common shareholders will indirectly bear the costs of the Mergers. Preferred shareholders will not bear any costs of the Mergers. The costs of the Mergers are estimated to be $2,330,000, 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 Mergers. Based on the expected benefits of the Mergers to each Fund, each of New Jersey Municipal, Pennsylvania Municipal, Missouri Municipal, and the Acquiring Fund is expected to be allocated $1,145,000, $1,090,000, $60,000, and $35,000, respectively, of the estimated expenses in connection with the Mergers (0.21%, 0.23%, 0.23% and 0.00%, respectively, of New Jersey Municipal’s, Pennsylvania Municipal’s, Missouri Municipal’s, and the Acquiring Fund’s average net assets applicable to common shares for the twelve months ended July 31, 2025). If one or more Mergers 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 Mergers.

The Funds have engaged Computershare Fund Services to assist in the solicitation of proxies at an estimated aggregate cost of $[•] 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 Mergers.

Material Federal Income Tax Consequences of the Mergers

With respect to each Merger, as