Nuveen Closed-End Fund Adopts Cash-Flow Based Distribution Approach

Nuveen Investments, a leading global provider of investment services to institutions as well as individual investors, today announced that the Dividend Committee of the Board of Trustees of Nuveen Flexible Investment Income Fund (NYSE: JPW), has authorized a change in the fund’s distribution setting approach to a cash-flow based from an income-only methodology. As part of its investment mandate, JPW owns certain securities whose distributions may ultimately be treated for tax purposes as something other than net investment income. A cash-flow based distribution policy is similar to the income-only approach of traditional fixed income funds and seeks to establish a stable monthly distribution that roughly corresponds to the net cash flow received from investments in portfolio securities. This authorization, which seeks to align JPW’s distribution approach with its portfolio investments, is effective with today’s distribution declaration. JPW has maintained a distribution of $0.126 per share since its inception in 2013. This change in distribution setting methodology is not currently expected to alter the fund’s distribution level.

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Nuveen Investments provides high-quality investment services designed to help secure the long-term goals of institutional and individual investors as well as the consultants and financial advisors who serve them. Nuveen Investments markets a wide range of specialized investment solutions which provide investors access to capabilities of its high-quality boutique investment affiliates—Nuveen Asset Management, LLC, Symphony Asset Management LLC, NWQ Investment Management Company, LLC, Santa Barbara Asset Management, LLC, Tradewinds Global Investors, LLC, Winslow Capital Management, LLC and Gresham Investment Management LLC, all of which are registered investment advisers and independent investment subsidiaries of Nuveen Investments, Inc. Funds distributed by Nuveen Securities, LLC, a subsidiary of Nuveen Investments, Inc. Nuveen Investments operates as a separate subsidiary within TIAA-CREF, which is a leading provider of retirement and financial services in the academic, research, medical and cultural fields. In total, Nuveen Investments managed approximately $230 billion as of December 31, 2014. For more information, please visit the Nuveen Investments website at www.nuveen.com.

6856-INV-O-03/16