NVX-A.CL Nuveen Calif Divid Advntg Muni FD 2

Nuveen, an operating division of TIAA Global Asset Management, today announced the pre-merger distributions for three Nuveen California municipal closed-end funds. The specific distribution dates and amounts are detailed below. As previously announced, the shareholders of the three funds approved a reorganization.

The following dates apply to distribution declaration for the fund:

Record Date   November 4, 2016   Ex-Dividend Date November 2, 2016 Payable Date December 1, 2016 Reinvest Date December 1, 2016     Per Share Distribution         Amount Tax-Exempt   Ordinary Ticker   Fund Name   Income   Income NAC   Nuveen California Dividend Advantage Municipal Fund   $.0061   $.0000 NVX   Nuveen California Dividend Advantage Municipal Fund 2   $.0000   $.0200 NZH   Nuveen California Dividend Advantage Municipal Fund 3   $.0386   $.0101  

Regulations require that acquired funds in any reorganization fully distribute any accumulated undistributed net investment income (UNII) prior to the reorganization going effective.

Following the merger, the acquiring fund, Nuveen California Dividend Advantage Municipal Fund (NYSE: NAC), to be renamed Nuveen California Quality Municipal Income Fund upon completion of the merger, is expected to declare an additional post-merger distribution, payable December 1, 2016. The total dollar amount of the pre- and post-merger tax-exempt* distributions received on December 1, 2016 will be equal to or greater than the shareholders’ prior monthly tax-exempt dividend.

For more information about UNII, each fund, and the shareholder-approved reorganization, please visit http://www.nuveen.com/CEF.

Nuveen provides investment solutions designed to help secure the long-term goals of individual investors and the advisors who serve them. Through the investment expertise of leading asset managers across traditional and alternative asset classes, Nuveen is committed to delivering consultative guidance that aligns with client needs. Funds are distributed by Nuveen Securities, LLC, a subsidiary of Nuveen Investments, Inc. Nuveen is an operating division of TIAA Global Asset Management. For more information, please visit the Nuveen website at www.nuveen.com.

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

*Income may be subject to state and local income taxes and the alternative minimum tax. Capital gains, if any, will be subject to capital gains tax.

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.

20267-INV-O-10/17

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NuveenMedia Contact:Kristyna Munoz(312) 917-8343kristyna.munoz@nuveen.com