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Nuveen Core Equity Alpha Fund Announces Update

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The Board of Trustees of Nuveen Core Equity Alpha Fund (NYSE:JCE) approved certain changes to the fund's sub-advisory arrangements with Nuveen Asset Management, LLC and Intech Investment Management LLC, subject to shareholder approval. If approved as proposed, Nuveen Asset Management, which is currently responsible for managing the fund's options overwrite strategy, would also assume portfolio management responsibilities for the fund's equity portfolio. Further, the sub-advisory agreement with Intech Investment Management, which is currently responsible for managing the fund's equity portfolio, would be terminated. The Board also approved changes to certain investment policies in connection with the hiring of Nuveen Asset Management for the fund's equity portfolio.

More information on the proposal will be contained in proxy materials expected to be filed in the near future.

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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