Nuveen Core Plus Impact Fund Declares Initial Distribution and Releases Fund Commentary

The Nuveen Core Plus Impact Fund (NYSE:NPCT) declared its initial monthly managed distribution of $0.1030 per share. The fund began trading on the NYSE on April 28, 2021.

The following dates apply to today's monthly distribution declaration:

The goal of the fund's managed distribution program is to provide shareholders with relatively consistent and predictable cash flow by systematically converting expected long-term return potential into regular distributions. Distribution sources may include net investment income, realized gains and/or return of capital. If a distribution includes anything other than net investment income, the fund provides a notice of the best estimate of its distribution sources at that time which may be viewed at www.nuveen.com/CEFdistributions. These estimates may not match the final tax characterization contained in shareholders' 1099-DIV forms after the end of the year.

Under a Managed Distribution policy, the fund seeks to maintain a stable regular distribution amount that, over the long term, matches the fund's total distributions paid to its total return. Investors should not draw any conclusions about a fund's past or future investment performance from its current distribution rate or from the terms of its Managed Distribution Policy. Actual returns likely will differ from projected long-term returns, (and therefore a fund's distribution rate, also), at least over shorter time periods. Over a specific timeframe, a fund's net asset value will increase (if returns exceed distributions), or decrease (if distributions exceed returns), by the difference between actual returns and total distributions.

A return of capital is a non-taxable distribution of a portion of the fund's capital. When a fund's returns exceed distributions, return of capital may represent portfolio gains earned, but not realized as a taxable capital gain. In periods when a fund's returns fall short of distributions, it will represent a portion of the investors' original principal unless the shortfall is offset during other time periods over the life of the investment (previous or subsequent) when the fund's total return exceeds distributions.

For an update on the Fund's current portfolio positioning please see the NPCT commentary. You can also subscribe to closed-end fund fact sheets, commentaries, distribution announcements, and other fund literature on Nuveen's website.

Nuveen is a leading sponsor of closed-end funds (CEFs) with $63 billion of assets under management across 64 CEFs as of 31 March 2021. The funds offer exposure to a broad range of asset classes and are designed for income-focused investors seeking regular distributions. Nuveen has over 30 years of experience managing CEFs.

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

Financial Professionals:

800-752-8700

Investors:

800-257-8787

Media:

[email protected]

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 March 2021 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.

FORWARD LOOKING STATEMENTS

Certain statements made in this release are forward-looking statements. Actual future results or occurrences may differ significantly from those anticipated in any forward-looking statements due to numerous factors. These include, but are not limited to:

• market developments;

• legal and regulatory developments; and

• other additional risks and uncertainties.

Nuveen and the closed-end funds managed by Nuveen and its affiliates undertake no responsibility to update publicly or revise any forward-looking statement.

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