Market Overview

Tekla Healthcare Opportunities Fund Paid Distribution

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On July 31, 2018, Tekla Healthcare Opportunities Fund paid a monthly
distribution of $0.1125 per share. It is currently estimated that this
distribution is derived from net investment income and return of capital
or other capital source. The composition of this and subsequent
distributions may vary from month to month because it may be materially
impacted by future realized gains and losses on securities. The
aggregate of the net unrealized appreciation of portfolio securities and
net realized gains on sale of securities is $66,597,534, of which
$54,199,113 represents net unrealized appreciation of portfolio
securities.

The following table sets forth the estimated amounts of the current
distribution, paid on July 31, 2018, and the cumulative distributions
paid this fiscal year-to-date from the following sources: net investment
income, net realized short-term capital gains, net realized long-term
capital gains, and return of capital or other capital source. The Fund
estimates that it has distributed more than its income and net realized
capital gains; therefore, a portion of your distribution may be a return
of capital. A return of capital may occur, for example, when some or all
of the money that you have invested in the Fund is paid back to you. A
return of capital distribution does not necessarily reflect the Fund's
investment performance and should not be confused with ‘yield' or
‘income'. All amounts are expressed per common share.

 
     

Current
Distribution

   

Percentage
Breakdown of
Current
Distribution

   

Total Cumulative
Distributions for the
Fiscal
Year to Date
1

   

Percentage Breakdown
of the Total Cumulative
Distributions
for the

Fiscal Year to Date1

Net Investment Income     $0.0044     4%     $0.2671     24%
Net Realized ST Cap Gains     $0.0000     0%     $0.2066     18%
Net Realized LT Cap Gains     $0.0000     0%     $0.0020     0%
Return of Capital or Other Capital Source     $0.1081     96%     $0.6493     58%
TOTAL (per common share):     $0.1125     100%     $1.1250     100%
               

The table below includes information relating to the Fund's
performance based on its NAV for certain periods.

 
Average annual return at NAV for the period from inception through
June 30, 20182
    8.04%
Annualized current distribution rate expressed as a percentage of
NAV as of June 30, 2018
    7.13%
Cumulative total return at NAV for the fiscal year, through June 30,
20183
    -0.17%
Cumulative fiscal year-to-date distribution rate expressed as a
percentage of NAV as of June 30, 20181
    5.94%
 

You should not draw any conclusions about the Fund's investment
performance from the amount of this distribution or from the terms of
the Fund's managed distribution policy.

The amounts and sources of distributions reported in this press release
are only estimates and are not being provided for tax reporting
purposes. The actual amounts and sources of the amounts for tax
reporting purposes will depend upon the Fund's investment experience
during the remainder of its fiscal year and may be subject to changes
based on tax regulations. The Fund will send you a Form 1099-DIV for the
calendar year that will tell you how to report these distributions for
federal income tax purposes.

Tekla Healthcare Opportunities Fund (NYSE:THQ) is a closed-end fund
that invests in companies in the healthcare industry.

Tekla Capital Management LLC, the Fund's investment adviser, is a
Boston, MA based healthcare-focused investment manager with
approximately $3.0 billion of assets under management as of June 30,
2018. Tekla also serves as investment adviser to Tekla Healthcare
Investors (NYSE:HQH), Tekla Life Sciences Investors (NYSE:HQL) and
Tekla World Healthcare Fund (NYSE:THW), closed-end funds that invest in
companies in the healthcare and life sciences industries. Information
regarding the Funds and Tekla Capital Management LLC can be found at www.teklacap.com.

Please contact Destra Capital Investments, the Fund's marketing and
investor support services agent, at THQ@destracapital.com
or call (877) 855-3434 if you have any questions regarding THQ.

1 The Fund's current fiscal year began on October 1, 2017.
2
Inception date was July 29, 2014, which is the date of the initial
public offering.
3 Cumulative total return at NAV is the
percentage change in the Fund's NAV and includes all distributions and
assumes the reinvestment of those distributions for the period of
September 30, 2017 through June 30, 2018.

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