Gabelli Multimedia Trust Provides Update on Asset Coverage and Leverage

The Board of Directors of The Gabelli Multimedia Trust Inc. (NYSE: GGT) (the “Fund”) announces that as of November 30, 2022, the Fund had asset coverage of 228%, with total assets of approximately $219 million, approximately $96 million of total preferred shares outstanding, and a cash position of approximately $41 million. The Fund continues to monitor the asset coverage for its leverage position, and believes it has sufficient flexibility within its portfolio to take action, if necessary, to maintain its leverage ratio limits as required by applicable regulatory requirements.

Investors should carefully consider the investment objectives, risks, charges, and expenses of the Fund before investing. For more information regarding the Fund, visit www.gabelli.com or call:

About The Gabelli Multimedia Trust

The Gabelli Multimedia Trust Inc. is a non-diversified, closed-end management investment company with $219 million in total net assets whose primary investment objective is long-term growth of capital. The Fund is managed by Gabelli Funds, LLC, a subsidiary of GAMCO Investors, Inc. (OTCQX: GAMI).

NYSE: GGT CUSIP – 36239Q109

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