Nuveen Closed-End Fund Reorganization Complete

The reorganization of Nuveen Michigan Quality Municipal Income Fund (NYSE: NUM) into Nuveen AMT-Free Quality Municipal Income Fund (NYSE: NEA) was completed prior to the open of the New York Stock Exchange on February 8, 2021.

In the reorganization, NEA acquired substantially all of the assets and liabilities of NUM in a tax-free transaction in exchange for newly-issued common shares in an aggregate amount equal in value to the net assets transferred. The exchange was based upon the values of the funds’ net assets as of the close of trading on February 5, 2021. The exchange ratio at which common shares of NUM were exchanged for common shares of NEA is listed below:

Ticker

Fund Name

Exchange Ratio

NUM

Nuveen Michigan Quality Municipal Income Fund

1.01088836

Additionally, preferred shareholders of NUM received an equivalent number of newly issued preferred shares of NEA with substantially the same terms as their previous preferred shares.

For more information about the shareholder-approved reorganization, please visit www.nuveen.com/CEF.

About Nuveen

Nuveen, the investment manager of TIAA, offers a comprehensive range of outcome-focused investment solutions designed to secure the long-term financial goals of institutional and individual investors. Nuveen has $1.2 trillion in assets under management as of 31 Dec 2020 and operations in 27 countries. Its investment specialists offer deep expertise across a comprehensive range of traditional and alternative investments through a wide array of vehicles and customized strategies. For more information, please visit www.nuveen.com.

Nuveen Securities, LLC, member FINRA and SIPC.

The information contained on the Nuveen website is not a part of this press release.

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