Nuveen Dynamic Overwrite Funds Announce Updates

The portfolio management responsibilities for Nuveen Dow 30℠ Dynamic Overwrite Fund DIAX, Nuveen S&P 500 Dynamic Overwrite Fund SPXX, and Nuveen Nasdaq 100 Dynamic Overwrite Fund QQQX will be updated. Effective August 3, 2020, Jim Campagna, Lei Liao, and Darren Tran will join the portfolio management team for the Nuveen Dynamic Overwrite Funds and will focus on each fund's equity portfolio. David Friar will continue as a portfolio manager of the funds and will be responsible for overseeing the options strategies for each fund.

In connection with the appointment of new portfolio managers, the Board of Trustees of QQQX and SPXX approved a modification to the funds' equity portfolio investment strategies. Effective August 3, 2020, the fund strategies will take into consideration each fund's tax position and employ various techniques, including tax-loss harvesting, to improve after-tax shareholder outcomes.

For more information, please visit Nuveen's CEF homepage www.nuveen.com/closed-end-funds.

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 trillion in assets under management as of 31 March 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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