Distribution Increase Reflects Results of Ongoing Portfolio Repositioning

Nuveen Investments, a leading global provider of investment services to institutions as well as individual investors, today announced that Diversified Real Asset Income Fund (NYSE: DRA), has declared an approximately 3.5 percent increase to its monthly distribution. The distribution is approximately 33 percent higher than the first full monthly distribution declared September 8, 2014 payable November 3, 2014 resulting from the fund repositioning its portfolio to reflect its expanded mandate.

The fund seeks to offer investors a high level of current income and capital appreciation by investing in securities and other instruments that provide investment exposure to real assets, with a focus on infrastructure and real estate companies’ securities.

The fund has adopted a cash-flow based distribution program, under which it seeks to maintain an attractive and stable regular distribution amount based on the fund’s net cash flow received from portfolio investments. Distribution sources for tax purposes may include net investment income, realized gains and return of capital, because the fund may invest in securities which have cash flow that ultimately may be fully or partially treated as gains or return of capital for tax purposes. If a distribution is sourced from anything other than net investment income, the fund provides a notice of the best estimate of its distribution sources at the time of payment which may be viewed at: www.nuveen.com/CEFdistributions. These estimates may not match the final tax characterization (for the full year’s distributions) contained in shareholders’ 1099-DIV forms after the end of the year. Fund distributions are not intended to include expected portfolio appreciation. You should not draw any conclusions about a fund’s past or future investment performance from its current distribution rate.

Key distribution information:

Record Date:   August 14, 2015     Ex-Dividend Date: August 12, 2015 Payable Date: September 1, 2015 Reinvest Date: September 1, 2015   Distribution Change from

Ticker

Fund Name

Per Share   Prior Distribution DRA Diversified Real Asset Income Fund $0.1440 $0.0050  

Additional information on DRA's cash flow.

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 June 30, 2015. For more information, please visit the Nuveen Investments website at www.nuveen.com.

9661-INV-O-08/16

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

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