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12554 10746 11864 11864 11081 11177 11128 10000 11505 9753 11106 11013 10000 10000 10158 9578 12549 10439 0.012 0.101 0.079 0.751 0.111 0.081 1.000 1.000 0.154 1 0.101 1.000 0.012 0.010 0.751 0.052 0.026 1.000 0.075 0.170 0.154 0.069 0.170 0.081 0.235 0.111 0.200 0.982 0.065 0.187 0.026 0.069 1.000 1.000 0.982 0.052 0.026 0.055 0.216 0.002 0.200 0.065 0.216 1.000 0.055 0.012 0.010 1 0.050 0.220 0.002 0.052 1 0.114 0.075 0.982 0.065 0.081 0.135 0.114 0.135 0.542 0.065 0.018 0.170 0.187 0.365 0.018 0.055 0.109 0.018 1 0.050 1.000 0.075 0.135 0.055 0.187 0.002 0.542 0.065 0.216 0.055 0.482 0.570 1.000 0.018 0.482 0.065 0.010 0.109 0.055 0.079 0.535 0.542 0.114 0.570 0.220 0.055 0.018 0.482 0.018 0.055 0.101 0.365 0.069 1.000 0.079 0.535 0.220 0.235 0.034 0.111 0.365 0.235 0.034 0.535 0.751 0.050 0.055 0.200 0.570 0.109 1.000 0.154 0.034 0001018973 false N-1A N-CSR Nuveen Multistate Trust IV 2026-05-31 Nuveen Kansas Municipal Bond Fund Class A Shares FKSTX This annual shareholder report contains important information about the Class A Shares of the Nuveen Kansas Municipal Bond Fund for the period of June 1, 2025 to May 31, 2026. annual shareholder report You can find additional information at https://www.nuveen.com/en-us/mutual-funds/prospectuses. You can also request this information by contacting us at (800) 257-8787. https://www.nuveen.com/en-us/mutual-funds/prospectuses (800) 257-8787 <div style="font-size: 9pt; font-family: arial; font-weight: bold; margin: 18pt 2% 0pt 2%;">This report describes changes to the Fund that occurred during the reporting period.</div> <div style="margin-top: 0pt; margin-bottom: 0pt; margin-left: 2%; font-size: 11pt; font-family: arial;"><span style="color: #0071ce;"><span style="font-weight: bold;">What were the Fund costs for the last year? </span></span><span style="font-family: arial;">(based on a hypothetical $10,000 investment)</span><span style="font-family: arial; color: #0071ce;"><span style="font-weight: bold;"> </span></span></div> <table cellpadding="0" cellspacing="0" style="border-collapse: collapse; font-family: arial; font-size: 8pt; width: 96%; border-spacing: 0px; margin: 0 auto;"> <tr> <td style="width: 33%;"></td> <td style="vertical-align: bottom;"></td> <td style="width: 33%;"></td> <td style="vertical-align: bottom;"></td> <td style="width: 32%;"></td> </tr> <tr style="font-size: 1pt;"> <td style="height: 3pt;"></td> <td colspan="2" style="border-left: 0.75pt solid #7fb8e6; border-top: 0.75pt solid #7fb8e6; height: 3pt;"> </td> <td colspan="2" style="border-left: 0.75pt solid #7fb8e6; border-top: 0.75pt solid #7fb8e6; border-right: 0.75pt solid #7fb8e6; height: 3pt;"> </td> </tr> <tr style="page-break-inside: avoid; font-family: arial; font-size: 8pt;"> <td style="vertical-align: bottom;"> </td> <td style="border-left: 0.75pt solid #7fb8e6; vertical-align: bottom;"> </td> <td style="padding-bottom: 3pt; vertical-align: middle; text-align: right;"><span style="font-weight: bold;">Cost of a $10,000 investment </span></td> <td style="border-left: 0.75pt solid #7fb8e6; vertical-align: bottom;"> </td> <td style="padding-bottom: 3pt; border-right: 0.75pt solid #7fb8e6; padding-right: 2pt; vertical-align: bottom; text-align: right;"><span style="font-weight: bold;">Costs paid as a percentage of<br/>$10,000 investment*</span></td> </tr> <tr style="font-size: 1pt;"> <td style="border-left: 0.75pt solid #7fb8e6; border-top: 0.75pt solid #7fb8e6; padding-left: 8pt; height: 3pt;"> </td> <td colspan="2" style="border-left: 0.75pt solid #7fb8e6; border-top: 0.75pt solid #7fb8e6; height: 3pt;"> </td> <td colspan="2" style="border-left: 0.75pt solid #7fb8e6; border-top: 0.75pt solid #7fb8e6; border-right: 0.75pt solid #7fb8e6; height: 3pt;"> </td> </tr> <tr style="page-break-inside: avoid; font-family: arial; font-size: 8pt;"> <td style="padding-bottom: 3pt; border-left: 0.75pt solid #7fb8e6; border-bottom: 0.75pt solid #7fb8e6; padding-left: 8pt; vertical-align: top;"> <div style="margin-top: 0pt; margin-bottom: 0pt; margin-left: 1.00em; text-indent: -1.00em; font-size: 8pt; font-family: arial;">Class A Shares</div> </td> <td style="border-left: 0.75pt solid #7fb8e6; border-bottom: 0.75pt solid #7fb8e6; vertical-align: bottom;"> </td> <td style="padding-bottom: 3pt; border-bottom: 0.75pt solid #7fb8e6; vertical-align: bottom; white-space: nowrap; text-align: right;">$85 </td> <td style="border-left: 0.75pt solid #7fb8e6; border-bottom: 0.75pt solid #7fb8e6; vertical-align: bottom;"> </td> <td style="padding-bottom: 3pt; border-right: 0.75pt solid #7fb8e6; border-bottom: 0.75pt solid #7fb8e6; padding-right: 2pt; vertical-align: bottom; white-space: nowrap; text-align: right;">0.82%</td> </tr> </table> <table cellpadding="0" cellspacing="0" style="border-collapse: collapse; font-family: arial; font-size: 8pt; border-spacing: 0px; width: 100%;"> <tr style="page-break-inside: avoid;"> <td style="width: 3%;"> </td> <td style="width: 1%; vertical-align: top; text-align: right;">*</td> <td style="width: 1%; vertical-align: top;"> </td> <td style="vertical-align: top; text-align: left;"> <div style="margin-top: 0pt; margin-bottom: 0pt; font-family: arial; font-size: 8pt; text-align: justify;">Annualized for period less than one year.</div> </td> <td style="width: 2%;"> </td> </tr> </table> 85 0.0082 <div style="margin-top: 0pt; margin-bottom: 0pt; margin-left: 2%; font-size: 11pt; font-family: arial;"><span style="color: #0071ce;"><span style="font-weight: bold;">How did the Fund perform last year? What affected the Fund’s performance? </span></span></div> <table cellpadding="0" cellspacing="0" style="border-collapse: collapse; font-family: arial; font-size: 9pt; width: 96%; border-spacing: 0px; margin: 0 auto;"> <tr> <td style="width: 100%;"></td> </tr> <tr style="page-break-inside: avoid; font-family: arial; font-size: 9pt;"> <td style="vertical-align: top;"> <div style="margin-top: 0pt; margin-bottom: 0pt; font-size: 9pt; font-family: arial; font-weight: bold;">Performance Highlights</div> <div style="font-size: 6pt; margin-top: 0pt; margin-bottom: 0pt;"> </div> <div style="margin-top: 0pt; margin-bottom: 0pt; margin-right: 1.11em; font-size: 9pt; font-family: arial;">The Nuveen Kansas Municipal Bond Fund returned 6.71% for Class A Shares at net asset value (NAV) for the 12 months ended May 31, 2026. The Fund outperformed the S&amp;P Municipal Bond Kansas Index, which returned 6.21%.</div> <div style="font-size: 6pt; margin-top: 0pt; margin-bottom: 0pt;"> </div> <div style="margin-top: 0pt; margin-bottom: 0pt; margin-right: 1.11em; font-size: 9pt; font-family: arial;">Top contributors to relative performance</div> <div style="font-size: 6pt; margin-top: 0pt; margin-bottom: 0pt;"> </div> <div style="margin-top: 0pt; margin-bottom: 0pt; margin-right: 1.67em; display: table-row;"> <div style="display: table-cell;"> <div style="margin-top: 0pt; margin-bottom: 0pt; margin-left: 2.222222em; font-family: arial;">•</div> </div> <div style="display: table-cell;"> <div style="margin-top: 0pt; margin-bottom: 0pt; margin-left: 0.538889em; font-family: arial;">Duration positioning, especially an overweight to longer-duration bonds.</div> </div> </div> <div style="font-size: 6pt; margin-top: 0pt; margin-bottom: 0pt;"> </div> <div style="margin-top: 0pt; margin-bottom: 0pt; margin-right: 1.67em; display: table-row;"> <div style="display: table-cell;"> <div style="margin-top: 0pt; margin-bottom: 0pt; margin-left: 2.222222em; font-family: arial;">•</div> </div> <div style="display: table-cell;"> <div style="margin-top: 0pt; margin-bottom: 0pt; margin-left: 0.538889em; font-family: arial;">Credit-quality positioning, especially an overweight to BBB-rated and BB-rated bonds.</div> </div> </div> <div style="font-size: 6pt; margin-top: 0pt; margin-bottom: 0pt;"> </div> <div style="margin-top: 0pt; margin-bottom: 0pt; margin-right: 1.67em; display: table-row;"> <div style="display: table-cell;"> <div style="margin-top: 0pt; margin-bottom: 0pt; margin-left: 2.222222em; font-family: arial;">•</div> </div> <div style="display: table-cell;"> <div style="margin-top: 0pt; margin-bottom: 0pt; margin-left: 0.538889em; font-family: arial;">Sector positioning, especially an overweight to dedicated-tax bonds.</div> </div> </div> <div style="font-size: 6pt; margin-top: 0pt; margin-bottom: 0pt;"> </div> <div style="margin-top: 0pt; margin-bottom: 0pt; margin-right: 1.67em; display: table-row;"> <div style="display: table-cell;"> <div style="margin-top: 0pt; margin-bottom: 0pt; margin-left: 2.222222em; font-family: arial;">•</div> </div> <div style="display: table-cell;"> <div style="margin-top: 0pt; margin-bottom: 0pt; margin-left: 0.538889em; font-family: arial;">Security selection in the local school district and health care bond sectors, and in Overland Park Convention Center bonds.</div> </div> </div> <div style="font-size: 6pt; margin-top: 0pt; margin-bottom: 0pt;"> </div> <div style="margin-top: 0pt; margin-bottom: 0pt; margin-right: 1.11em; font-size: 9pt; font-family: arial;">Top detractors from relative performance</div> <div style="font-size: 6pt; margin-top: 0pt; margin-bottom: 0pt;"> </div> <div style="margin-top: 0pt; margin-bottom: 0pt; margin-right: 1.67em; display: table-row;"> <div style="display: table-cell;"> <div style="margin-top: 0pt; margin-bottom: 0pt; margin-left: 2.222222em; font-family: arial;">•</div> </div> <div style="display: table-cell;"> <div style="margin-top: 0pt; margin-bottom: 0pt; margin-left: 0.538889em; font-family: arial;">An underweight to higher-education bonds.</div> </div> </div> <div style="font-size: 6pt; margin-top: 0pt; margin-bottom: 0pt;"> </div> <div style="margin-top: 0pt; margin-bottom: 0pt; margin-right: 1.67em; display: table-row;"> <div style="display: table-cell;"> <div style="margin-top: 0pt; margin-bottom: 0pt; margin-left: 2.222222em; font-family: arial;">•</div> </div> <div style="display: table-cell;"> <div style="margin-top: 0pt; margin-bottom: 0pt; margin-left: 0.538889em; font-family: arial;">Overland Park Prairiefire development bonds.</div> </div> </div> </td> </tr> </table> Performance data shown represents past performance and does not predict or guarantee future results. The<span style="font-weight: bold;"> </span>graph and table do not reflect the deduction of taxes that a shareholder would pay on Fund distributions or redemption of Fund Shares. <div style="margin: 0pt 2% 0pt 2%;"> <img alt="LOGO" src="g133061g22m01.jpg"/> </div> <div style="font-size: 9pt; font-family: arial; font-weight: bold; margin: 0pt 2% 0pt 2%;">Average Annual Total Returns</div> <table cellpadding="0" cellspacing="0" style="border-collapse: collapse; font-family: arial; font-size: 8pt; width: 96%; border-spacing: 0px; margin: 0 auto;"> <tr> <td style="width: 64%;"></td> <td style="vertical-align: bottom; width: 6%;"></td> <td></td> <td></td> <td style="vertical-align: bottom; width: 3%;"></td> <td style="vertical-align: bottom; width: 6%;"></td> <td></td> <td></td> <td style="vertical-align: bottom; width: 3%;"></td> <td style="vertical-align: bottom; width: 6%;"></td> <td></td> <td></td> <td style="vertical-align: bottom; width: 3%;"></td> </tr> <tr style="font-size: 1pt;"> <td style="height: 3pt;"></td> <td colspan="4" style="border-left: 0.75pt solid #7fb8e6; border-top: 0.75pt solid #7fb8e6; border-right: 0.75pt solid #7fb8e6; height: 3pt;"> </td> <td colspan="4" style="border-top: 0.75pt solid #7fb8e6; height: 3pt;"> </td> <td colspan="4" style="border-left: 0.75pt solid #7fb8e6; border-top: 0.75pt solid #7fb8e6; border-right: 0.75pt solid #7fb8e6; height: 3pt;"> </td> </tr> <tr style="page-break-inside: avoid; font-family: arial; font-size: 8pt;"> <td style="vertical-align: top;"> </td> <td style="border-left: 0.75pt solid #7fb8e6; vertical-align: bottom;">    </td> <td colspan="2" style="padding-bottom: 3pt; vertical-align: bottom; white-space: nowrap; text-align: center;"><span style="font-weight: bold;">1‑Year</span></td> <td style="border-right: 0.75pt solid #7fb8e6; vertical-align: bottom;"> </td> <td style="vertical-align: bottom;">    </td> <td colspan="2" style="padding-bottom: 3pt; vertical-align: bottom; white-space: nowrap; text-align: center;"><span style="font-weight: bold;">5‑Year</span></td> <td style="vertical-align: bottom;"> </td> <td style="border-left: 0.75pt solid #7fb8e6; vertical-align: bottom;">    </td> <td colspan="2" style="padding-bottom: 3pt; vertical-align: bottom; white-space: nowrap; text-align: center;"><span style="font-weight: bold;">10‑Year</span></td> <td style="border-right: 0.75pt solid #7fb8e6; padding-right: 2pt; vertical-align: bottom;"> </td> </tr> <tr style="font-size: 1pt;"> <td style="border-left: 0.75pt solid #7fb8e6; border-top: 0.75pt solid #7fb8e6; padding-left: 8pt; height: 3pt;"> </td> <td colspan="4" style="border-left: 0.75pt solid #7fb8e6; border-top: 0.75pt solid #7fb8e6; border-right: 0.75pt solid #7fb8e6; height: 3pt;"> </td> <td colspan="4" style="border-top: 0.75pt solid #7fb8e6; height: 3pt;"> </td> <td colspan="4" style="border-left: 0.75pt solid #7fb8e6; border-top: 0.75pt solid #7fb8e6; border-right: 0.75pt solid #7fb8e6; height: 3pt;"> </td> </tr> <tr style="page-break-inside: avoid; font-family: arial; font-size: 8pt;"> <td style="padding-bottom: 3pt; border-left: 0.75pt solid #7fb8e6; padding-left: 8pt; vertical-align: top;"> <div style="margin-top: 0pt; margin-bottom: 0pt; margin-left: 1.00em; text-indent: -1.00em; font-size: 8pt; font-family: arial;">Class A Shares at NAV (excluding maximum sales charge)</div> </td> <td style="border-left: 0.75pt solid #7fb8e6; vertical-align: bottom;">    </td> <td style="padding-bottom: 3pt; white-space: nowrap; vertical-align: bottom;"> </td> <td style="padding-bottom: 3pt; white-space: nowrap; vertical-align: bottom; text-align: right;">6.71</td> <td style="padding-bottom: 3pt; border-right: 0.75pt solid #7fb8e6; white-space: nowrap; vertical-align: bottom;">% </td> <td style="vertical-align: bottom;">    </td> <td style="padding-bottom: 3pt; white-space: nowrap; vertical-align: bottom;"> </td> <td style="padding-bottom: 3pt; white-space: nowrap; vertical-align: bottom; text-align: right;">1.03</td> <td style="padding-bottom: 3pt; white-space: nowrap; vertical-align: bottom;">% </td> <td style="border-left: 0.75pt solid #7fb8e6; vertical-align: bottom;">    </td> <td style="padding-bottom: 3pt; white-space: nowrap; vertical-align: bottom;"> </td> <td style="padding-bottom: 3pt; white-space: nowrap; vertical-align: bottom; text-align: right;">1.85</td> <td style="padding-bottom: 3pt; border-right: 0.75pt solid #7fb8e6; padding-right: 2pt; white-space: nowrap; vertical-align: bottom;">% </td> </tr> <tr style="font-size: 1pt;"> <td style="border-left: 0.75pt solid #7fb8e6; border-top: 0.75pt solid #7fb8e6; padding-left: 8pt; height: 3pt;"> </td> <td colspan="4" style="border-left: 0.75pt solid #7fb8e6; border-top: 0.75pt solid #7fb8e6; border-right: 0.75pt solid #7fb8e6; height: 3pt;"> </td> <td colspan="4" style="border-top: 0.75pt solid #7fb8e6; height: 3pt;"> </td> <td colspan="4" style="border-left: 0.75pt solid #7fb8e6; border-top: 0.75pt solid #7fb8e6; border-right: 0.75pt solid #7fb8e6; height: 3pt;"> </td> </tr> <tr style="page-break-inside: avoid; font-family: arial; font-size: 8pt;"> <td style="padding-bottom: 3pt; border-left: 0.75pt solid #7fb8e6; padding-left: 8pt; vertical-align: top;"> <div style="margin-top: 0pt; margin-bottom: 0pt; margin-left: 1.00em; text-indent: -1.00em; font-size: 8pt; font-family: arial;">Class A Shares at maximum sales charge (Offering Price)</div> </td> <td style="border-left: 0.75pt solid #7fb8e6; vertical-align: bottom;">    </td> <td style="padding-bottom: 3pt; white-space: nowrap; vertical-align: bottom;"> </td> <td style="padding-bottom: 3pt; white-space: nowrap; vertical-align: bottom; text-align: right;">2.20</td> <td style="padding-bottom: 3pt; border-right: 0.75pt solid #7fb8e6; white-space: nowrap; vertical-align: bottom;">% </td> <td style="vertical-align: bottom;">    </td> <td style="padding-bottom: 3pt; white-space: nowrap; vertical-align: bottom;"> </td> <td style="padding-bottom: 3pt; white-space: nowrap; vertical-align: bottom; text-align: right;">0.16</td> <td style="padding-bottom: 3pt; white-space: nowrap; vertical-align: bottom;">% </td> <td style="border-left: 0.75pt solid #7fb8e6; vertical-align: bottom;">    </td> <td style="padding-bottom: 3pt; white-space: nowrap; vertical-align: bottom;"> </td> <td style="padding-bottom: 3pt; white-space: nowrap; vertical-align: bottom; text-align: right;">1.41</td> <td style="padding-bottom: 3pt; border-right: 0.75pt solid #7fb8e6; padding-right: 2pt; white-space: nowrap; vertical-align: bottom;">% </td> </tr> <tr style="font-size: 1pt;"> <td style="border-left: 0.75pt solid #7fb8e6; border-top: 0.75pt solid #7fb8e6; padding-left: 8pt; height: 3pt;"> </td> <td colspan="4" style="border-left: 0.75pt solid #7fb8e6; border-top: 0.75pt solid #7fb8e6; border-right: 0.75pt solid #7fb8e6; height: 3pt;"> </td> <td colspan="4" style="border-top: 0.75pt solid #7fb8e6; height: 3pt;"> </td> <td colspan="4" style="border-left: 0.75pt solid #7fb8e6; border-top: 0.75pt solid #7fb8e6; border-right: 0.75pt solid #7fb8e6; height: 3pt;"> </td> </tr> <tr style="page-break-inside: avoid; font-family: arial; font-size: 8pt;"> <td style="padding-bottom: 3pt; border-left: 0.75pt solid #7fb8e6; padding-left: 8pt; vertical-align: top;"> <div style="margin-top: 0pt; margin-bottom: 0pt; margin-left: 1.00em; text-indent: -1.00em; font-size: 8pt; font-family: arial;">S&amp;P Municipal Bond Index</div> </td> <td style="border-left: 0.75pt solid #7fb8e6; vertical-align: bottom;">    </td> <td style="padding-bottom: 3pt; white-space: nowrap; vertical-align: bottom;"> </td> <td style="padding-bottom: 3pt; white-space: nowrap; vertical-align: bottom; text-align: right;">6.57</td> <td style="padding-bottom: 3pt; border-right: 0.75pt solid #7fb8e6; white-space: nowrap; vertical-align: bottom;">% </td> <td style="vertical-align: bottom;">    </td> <td style="padding-bottom: 3pt; white-space: nowrap; vertical-align: bottom;"> </td> <td style="padding-bottom: 3pt; white-space: nowrap; vertical-align: bottom; text-align: right;">1.14</td> <td style="padding-bottom: 3pt; white-space: nowrap; vertical-align: bottom;">% </td> <td style="border-left: 0.75pt solid #7fb8e6; vertical-align: bottom;">    </td> <td style="padding-bottom: 3pt; white-space: nowrap; vertical-align: bottom;"> </td> <td style="padding-bottom: 3pt; white-space: nowrap; vertical-align: bottom; text-align: right;">2.30</td> <td style="padding-bottom: 3pt; border-right: 0.75pt solid #7fb8e6; padding-right: 2pt; white-space: nowrap; vertical-align: bottom;">% </td> </tr> <tr style="font-size: 1pt;"> <td style="border-left: 0.75pt solid #7fb8e6; border-top: 0.75pt solid #7fb8e6; padding-left: 8pt; height: 3pt;"> </td> <td colspan="4" style="border-left: 0.75pt solid #7fb8e6; border-top: 0.75pt solid #7fb8e6; border-right: 0.75pt solid #7fb8e6; height: 3pt;"> </td> <td colspan="4" style="border-top: 0.75pt solid #7fb8e6; height: 3pt;"> </td> <td colspan="4" style="border-left: 0.75pt solid #7fb8e6; border-top: 0.75pt solid #7fb8e6; border-right: 0.75pt solid #7fb8e6; height: 3pt;"> </td> </tr> <tr style="page-break-inside: avoid; font-family: arial; font-size: 8pt;"> <td style="padding-bottom: 3pt; border-left: 0.75pt solid #7fb8e6; padding-left: 8pt; vertical-align: top;"> <div style="margin-top: 0pt; margin-bottom: 0pt; margin-left: 1.00em; text-indent: -1.00em; font-size: 8pt; font-family: arial;">S&amp;P Municipal Bond Kansas Index</div> </td> <td style="border-left: 0.75pt solid #7fb8e6; vertical-align: bottom;">    </td> <td style="padding-bottom: 3pt; white-space: nowrap; vertical-align: bottom;"> </td> <td style="padding-bottom: 3pt; white-space: nowrap; vertical-align: bottom; text-align: right;">6.21</td> <td style="padding-bottom: 3pt; border-right: 0.75pt solid #7fb8e6; white-space: nowrap; vertical-align: bottom;">% </td> <td style="vertical-align: bottom;">    </td> <td style="padding-bottom: 3pt; white-space: nowrap; vertical-align: bottom;"> </td> <td style="padding-bottom: 3pt; white-space: nowrap; vertical-align: bottom; text-align: right;">1.51</td> <td style="padding-bottom: 3pt; white-space: nowrap; vertical-align: bottom;">% </td> <td style="border-left: 0.75pt solid #7fb8e6; vertical-align: bottom;">    </td> <td style="padding-bottom: 3pt; white-space: nowrap; vertical-align: bottom;"> </td> <td style="padding-bottom: 3pt; white-space: nowrap; vertical-align: bottom; text-align: right;">2.30</td> <td style="padding-bottom: 3pt; border-right: 0.75pt solid #7fb8e6; padding-right: 2pt; white-space: nowrap; vertical-align: bottom;">% </td> </tr> <tr style="font-size: 1pt;"> <td style="border-left: 0.75pt solid #7fb8e6; border-top: 0.75pt solid #7fb8e6; padding-left: 8pt; height: 3pt;"> </td> <td colspan="4" style="border-left: 0.75pt solid #7fb8e6; border-top: 0.75pt solid #7fb8e6; border-right: 0.75pt solid #7fb8e6; height: 3pt;"> </td> <td colspan="4" style="border-top: 0.75pt solid #7fb8e6; height: 3pt;"> </td> <td colspan="4" style="border-left: 0.75pt solid #7fb8e6; border-top: 0.75pt solid #7fb8e6; border-right: 0.75pt solid #7fb8e6; height: 3pt;"> </td> </tr> <tr style="page-break-inside: avoid; font-family: arial; font-size: 8pt;"> <td style="padding-bottom: 3pt; border-left: 0.75pt solid #7fb8e6; border-bottom: 0.75pt solid #7fb8e6; padding-left: 8pt; vertical-align: top;"> <div style="margin-top: 0pt; margin-bottom: 0pt; margin-left: 1.00em; text-indent: -1.00em; font-size: 8pt; font-family: arial;">Lipper Other States Municipal Debt Funds Classification Average</div> </td> <td style="border-left: 0.75pt solid #7fb8e6; border-bottom: 0.75pt solid #7fb8e6; vertical-align: bottom;">    </td> <td style="padding-bottom: 3pt; border-bottom: 0.75pt solid #7fb8e6; white-space: nowrap; vertical-align: bottom;"> </td> <td style="padding-bottom: 3pt; border-bottom: 0.75pt solid #7fb8e6; white-space: nowrap; vertical-align: bottom; text-align: right;">7.08</td> <td style="padding-bottom: 3pt; border-right: 0.75pt solid #7fb8e6; border-bottom: 0.75pt solid #7fb8e6; white-space: nowrap; vertical-align: bottom;">% </td> <td style="border-bottom: 0.75pt solid #7fb8e6; vertical-align: bottom;">    </td> <td style="padding-bottom: 3pt; border-bottom: 0.75pt solid #7fb8e6; white-space: nowrap; vertical-align: bottom;"> </td> <td style="padding-bottom: 3pt; border-bottom: 0.75pt solid #7fb8e6; white-space: nowrap; vertical-align: bottom; text-align: right;">0.43</td> <td style="padding-bottom: 3pt; border-bottom: 0.75pt solid #7fb8e6; white-space: nowrap; vertical-align: bottom;">% </td> <td style="border-left: 0.75pt solid #7fb8e6; border-bottom: 0.75pt solid #7fb8e6; vertical-align: bottom;">    </td> <td style="padding-bottom: 3pt; border-bottom: 0.75pt solid #7fb8e6; white-space: nowrap; vertical-align: bottom;"> </td> <td style="padding-bottom: 3pt; border-bottom: 0.75pt solid #7fb8e6; white-space: nowrap; vertical-align: bottom; text-align: right;">1.54</td> <td style="padding-bottom: 3pt; border-right: 0.75pt solid #7fb8e6; border-bottom: 0.75pt solid #7fb8e6; padding-right: 2pt; white-space: nowrap; vertical-align: bottom;">% </td> </tr> </table> Class A Shares at NAV (excluding maximum sales charge) 0.0671 0.0103 0.0185 Class A Shares at maximum sales charge (Offering Price) 0.0220 0.0016 0.0141 S&P Municipal Bond Index 0.0657 0.0114 0.0230 S&P Municipal Bond Kansas Index 0.0621 0.0151 0.0230 Lipper Other States Municipal Debt Funds Classification Average 0.0708 0.0043 0.0154 For most recent month-end performance, go to https://www.nuveen.com/en-us/mutual-funds/prospectuses or call (800) 257‑8787. <div style="margin-top: 0pt; margin-bottom: 0pt; margin-left: 2%; font-size: 11pt; font-family: arial;"><span style="color: #0071ce;"><span style="font-weight: bold;">Fund Statistics (as of May 31, 2026) </span></span></div> <table cellpadding="0" cellspacing="0" style="border-collapse: collapse; font-family: arial; font-size: 8pt; width: 96%; border-spacing: 0px; margin: 0 auto;"> <tr> <td style="width: 87%;"></td> <td style="vertical-align: bottom; width: 2%;"></td> <td></td> <td></td> <td style="vertical-align: bottom; width: 2%;"></td> </tr> <tr style="font-size: 1pt;"> <td style="height: 3pt;"></td> <td colspan="4" style="height: 3pt;"></td> </tr> <tr style="page-break-inside: avoid; font-family: arial; font-size: 8pt;"> <td style="padding-bottom: 3pt; border-bottom: 0.75pt solid #7fb8e6; vertical-align: top;"> <div style="margin-top: 0pt; margin-bottom: 0pt; margin-left: 1.00em; text-indent: -1.00em; font-size: 8pt; font-family: arial;">Fund net assets</div> </td> <td style="border-bottom: 0.75pt solid #7fb8e6; vertical-align: bottom;">  </td> <td style="padding-bottom: 3pt; border-bottom: 0.75pt solid #7fb8e6; white-space: nowrap; vertical-align: bottom;">$</td> <td style="padding-bottom: 3pt; border-bottom: 0.75pt solid #7fb8e6; white-space: nowrap; vertical-align: bottom; text-align: right;">194,548,848</td> <td style="padding-bottom: 3pt; border-bottom: 0.75pt solid #7fb8e6; white-space: nowrap; vertical-align: bottom;"> </td> </tr> <tr style="font-size: 1pt;"> <td style="height: 3pt;"></td> <td colspan="4" style="height: 3pt;"></td> </tr> <tr style="page-break-inside: avoid; font-family: arial; font-size: 8pt;"> <td style="padding-bottom: 3pt; border-bottom: 0.75pt solid #7fb8e6; vertical-align: top;"> <div style="margin-top: 0pt; margin-bottom: 0pt; margin-left: 1.00em; text-indent: -1.00em; font-size: 8pt; font-family: arial;">Total number of portfolio holdings</div> </td> <td style="border-bottom: 0.75pt solid #7fb8e6; vertical-align: bottom;">  </td> <td style="padding-bottom: 3pt; border-bottom: 0.75pt solid #7fb8e6; white-space: nowrap; vertical-align: bottom;"> </td> <td style="padding-bottom: 3pt; border-bottom: 0.75pt solid #7fb8e6; white-space: nowrap; vertical-align: bottom; text-align: right;">151</td> <td style="padding-bottom: 3pt; border-bottom: 0.75pt solid #7fb8e6; white-space: nowrap; vertical-align: bottom;"> </td> </tr> <tr style="font-size: 1pt;"> <td style="height: 3pt;"></td> <td colspan="4" style="height: 3pt;"></td> </tr> <tr style="page-break-inside: avoid; font-family: arial; font-size: 8pt;"> <td style="padding-bottom: 3pt; border-bottom: 0.75pt solid #7fb8e6; vertical-align: top;"> <div style="margin-top: 0pt; margin-bottom: 0pt; margin-left: 1.00em; text-indent: -1.00em; font-size: 8pt; font-family: arial;">Portfolio turnover (%)</div> </td> <td style="border-bottom: 0.75pt solid #7fb8e6; vertical-align: bottom;">  </td> <td style="padding-bottom: 3pt; border-bottom: 0.75pt solid #7fb8e6; white-space: nowrap; vertical-align: bottom;"> </td> <td style="padding-bottom: 3pt; border-bottom: 0.75pt solid #7fb8e6; white-space: nowrap; vertical-align: bottom; text-align: right;">15%</td> <td style="padding-bottom: 3pt; border-bottom: 0.75pt solid #7fb8e6; white-space: nowrap; vertical-align: bottom;"> </td> </tr> <tr style="font-size: 1pt;"> <td style="height: 3pt;"></td> <td colspan="4" style="height: 3pt;"></td> </tr> <tr style="page-break-inside: avoid; font-family: arial; font-size: 8pt;"> <td style="padding-bottom: 3pt; border-bottom: 0.75pt solid #7fb8e6; vertical-align: top;"> <div style="margin-top: 0pt; margin-bottom: 0pt; margin-left: 1.00em; text-indent: -1.00em; font-size: 8pt; font-family: arial;">Total management fees paid for the year</div> </td> <td style="border-bottom: 0.75pt solid #7fb8e6; vertical-align: bottom;">  </td> <td style="padding-bottom: 3pt; border-bottom: 0.75pt solid #7fb8e6; white-space: nowrap; vertical-align: bottom;">$</td> <td style="padding-bottom: 3pt; border-bottom: 0.75pt solid #7fb8e6; white-space: nowrap; vertical-align: bottom; text-align: right;">952,272</td> <td style="padding-bottom: 3pt; border-bottom: 0.75pt solid #7fb8e6; white-space: nowrap; vertical-align: bottom;"> </td> </tr> </table> 194548848 151 0.15 952272 <table cellpadding="0" cellspacing="0" style="border-collapse: collapse; font-family: arial; font-size: 9pt; width: 100%; border-spacing: 0px; margin: 0 auto;"> <tr> <td style="width: 50%;"></td> <td style="vertical-align: bottom; width: 1%;"></td> <td style="width: 49%;"></td> </tr> <tr style="page-break-inside: avoid; font-family: arial; font-size: 9pt;"> <td style="vertical-align: top;"> <div style="margin: 0pt 1.11em 0pt 1.11em;"> <img alt="LOGO" src="g133061g22m02.jpg"/> </div> </td> <td style="vertical-align: bottom;"> </td> <td style="vertical-align: top;"> <div style="margin: 0pt 1.11em 0pt 1.11em;"> <img alt="LOGO" src="g133061g22m03.jpg"/> </div> </td> </tr> </table> <table cellpadding="0" cellspacing="0" style="border-collapse: collapse; font-family: arial; font-size: 8pt; border-spacing: 0px; width: 100%;"> <tr style="page-break-inside: avoid;"> <td style="width: 1%;"> </td> <td style="width: 4%; vertical-align: top; text-align: left;">(1)</td> <td style="vertical-align: top; text-align: left;"> <div style="margin-top: 0pt; margin-bottom: 0pt; font-size: 8pt; font-family: arial; text-align: left;">The ratings disclosed are the highest rating given by one of the following national rating agencies: Standard &amp; Poor’s (S&amp;P), Moody’s Investors Service, Inc. (Moody’s) or Fitch, Inc (Fitch). This treatment of split-rated securities may differ from that used for other purposes, such as for Fund investment policies. Credit ratings are subject to change. AAA, AA, A, and BBB are investment grade ratings; BB, B, CCC, CC, C and D are below-investment grade ratings. Holdings designated N/R are not rated by these national ratings agencies.</div> </td> </tr> </table> The ratings disclosed are the highest rating given by one of the following national rating agencies: Standard &amp; Poor’s (S&amp;P), Moody’s Investors Service, Inc. (Moody’s) or Fitch, Inc (Fitch). This treatment of split-rated securities may differ from that used for other purposes, such as for Fund investment policies. Credit ratings are subject to change. AAA, AA, A, and BBB are investment grade ratings; BB, B, CCC, CC, C and D are below-investment grade ratings. Holdings designated N/R are not rated by these national ratings agencies. <div style="margin-top: 0pt; margin-bottom: 0pt; margin-left: 2%; font-size: 11pt; font-family: arial;"><span style="color: #0071ce;"><span style="font-weight: bold;">How has the Fund changed? </span></span></div> <div style="margin-top: 6pt; margin-bottom: 0pt; margin-left: 2%; font-size: 9pt; font-family: arial; font-weight: bold;">For more complete information, you may review the Fund’s next prospectus, which is expected to be available by September 30, 2026 at https://www.nuveen.com/en-us/mutual-funds/prospectuses or upon request at (800) 257-8787.</div> <div style="margin-top: 6pt; margin-bottom: 0pt; margin-left: 2%; font-size: 9pt; font-family: arial; font-weight: bold;">For more complete information, you may review the Fund’s next prospectus, which is expected to be available by September 30, 2026 at https://www.nuveen.com/en-us/mutual-funds/prospectuses or upon request at (800) 257-8787.</div> https://www.nuveen.com/en-us/mutual-funds/prospectuses (800) 257-8787 Nuveen Kansas Municipal Bond Fund Class C Shares FAFOX This annual shareholder report contains important information about the Class C Shares of the Nuveen Kansas Municipal Bond Fund for the period of June 1, 2025 to May 31, 2026. annual shareholder report You can find additional information at https://www.nuveen.com/en-us/mutual-funds/prospectuses. You can also request this information by contacting us at (800) 257-8787. https://www.nuveen.com/en-us/mutual-funds/prospectuses (800) 257-8787 <div style="font-size: 9pt; font-family: arial; font-weight: bold; margin: 18pt 2% 0pt 2%;">This report describes changes to the Fund that occurred during the reporting period.</div> <div style="margin-top: 0pt; margin-bottom: 0pt; margin-left: 2%; font-size: 11pt; font-family: arial;"><span style="color: #0071ce;"><span style="font-weight: bold;">What were the Fund costs for the last year? </span></span><span style="font-family: arial;">(based on a hypothetical $10,000 investment)</span><span style="font-family: arial; color: #0071ce;"><span style="font-weight: bold;"> </span></span></div> <table cellpadding="0" cellspacing="0" style="border-collapse: collapse; font-family: arial; font-size: 8pt; width: 96%; border-spacing: 0px; margin: 0 auto;"> <tr> <td style="width: 33%;"></td> <td style="vertical-align: bottom;"></td> <td style="width: 33%;"></td> <td style="vertical-align: bottom;"></td> <td style="width: 32%;"></td> </tr> <tr style="font-size: 1pt;"> <td style="height: 3pt;"></td> <td colspan="2" style="border-left: 0.75pt solid #7fb8e6; border-top: 0.75pt solid #7fb8e6; height: 3pt;"> </td> <td colspan="2" style="border-left: 0.75pt solid #7fb8e6; border-top: 0.75pt solid #7fb8e6; border-right: 0.75pt solid #7fb8e6; height: 3pt;"> </td> </tr> <tr style="page-break-inside: avoid; font-family: arial; font-size: 8pt;"> <td style="vertical-align: bottom;"> </td> <td style="border-left: 0.75pt solid #7fb8e6; vertical-align: bottom;"> </td> <td style="padding-bottom: 3pt; vertical-align: middle; text-align: right;"><span style="font-weight: bold;">Cost of a $10,000 investment </span></td> <td style="border-left: 0.75pt solid #7fb8e6; vertical-align: bottom;"> </td> <td style="padding-bottom: 3pt; border-right: 0.75pt solid #7fb8e6; padding-right: 2pt; vertical-align: bottom; text-align: right;"><span style="font-weight: bold;">Costs paid as a percentage of<br/>$10,000 investment*</span></td> </tr> <tr style="font-size: 1pt;"> <td style="border-left: 0.75pt solid #7fb8e6; border-top: 0.75pt solid #7fb8e6; padding-left: 8pt; height: 3pt;"> </td> <td colspan="2" style="border-left: 0.75pt solid #7fb8e6; border-top: 0.75pt solid #7fb8e6; height: 3pt;"> </td> <td colspan="2" style="border-left: 0.75pt solid #7fb8e6; border-top: 0.75pt solid #7fb8e6; border-right: 0.75pt solid #7fb8e6; height: 3pt;"> </td> </tr> <tr style="page-break-inside: avoid; font-family: arial; font-size: 8pt;"> <td style="padding-bottom: 3pt; border-left: 0.75pt solid #7fb8e6; border-bottom: 0.75pt solid #7fb8e6; padding-left: 8pt; vertical-align: top;"> <div style="margin-top: 0pt; margin-bottom: 0pt; margin-left: 1.00em; text-indent: -1.00em; font-size: 8pt; font-family: arial;">Class C Shares</div> </td> <td style="border-left: 0.75pt solid #7fb8e6; border-bottom: 0.75pt solid #7fb8e6; vertical-align: bottom;"> </td> <td style="padding-bottom: 3pt; border-bottom: 0.75pt solid #7fb8e6; vertical-align: bottom; white-space: nowrap; text-align: right;">$167 </td> <td style="border-left: 0.75pt solid #7fb8e6; border-bottom: 0.75pt solid #7fb8e6; vertical-align: bottom;"> </td> <td style="padding-bottom: 3pt; border-right: 0.75pt solid #7fb8e6; border-bottom: 0.75pt solid #7fb8e6; padding-right: 2pt; vertical-align: bottom; white-space: nowrap; text-align: right;">1.62%</td> </tr> </table> <table cellpadding="0" cellspacing="0" style="border-collapse: collapse; font-family: arial; font-size: 8pt; border-spacing: 0px; width: 100%;"> <tr style="page-break-inside: avoid;"> <td style="width: 3%;"> </td> <td style="width: 1%; vertical-align: top; text-align: right;">*</td> <td style="width: 1%; vertical-align: top;"> </td> <td style="vertical-align: top; text-align: left;"> <div style="margin-top: 0pt; margin-bottom: 0pt; font-family: arial; font-size: 8pt; text-align: justify;">Annualized for period less than one year.</div> </td> <td style="width: 2%;"> </td> </tr> </table> 167 0.0162 <div style="margin-top: 0pt; margin-bottom: 0pt; margin-left: 2%; font-size: 11pt; font-family: arial;"><span style="color: #0071ce;"><span style="font-weight: bold;">How did the Fund perform last year? What affected the Fund’s performance? </span></span></div> <table cellpadding="0" cellspacing="0" style="border-collapse: collapse; font-family: arial; font-size: 9pt; width: 96%; border-spacing: 0px; margin: 0 auto;"> <tr> <td style="width: 100%;"></td> </tr> <tr style="page-break-inside: avoid; font-family: arial; font-size: 9pt;"> <td style="vertical-align: top;"> <div style="margin-top: 0pt; margin-bottom: 0pt; font-size: 9pt; font-family: arial; font-weight: bold;">Performance Highlights</div> <div style="font-size: 6pt; margin-top: 0pt; margin-bottom: 0pt;"> </div> <div style="margin-top: 0pt; margin-bottom: 0pt; margin-right: 1.11em; font-size: 9pt; font-family: arial;">The Nuveen Kansas Municipal Bond Fund returned 5.90% for Class C Shares at net asset value (NAV) for the 12 months ended May 31, 2026. The Fund underperformed the S&amp;P Municipal Bond Kansas Index, which returned 6.21%.</div> <div style="font-size: 6pt; margin-top: 0pt; margin-bottom: 0pt;"> </div> <div style="margin-top: 0pt; margin-bottom: 0pt; margin-right: 1.11em; font-size: 9pt; font-family: arial;">Top contributors to relative performance</div> <div style="font-size: 6pt; margin-top: 0pt; margin-bottom: 0pt;"> </div> <div style="margin-top: 0pt; margin-bottom: 0pt; margin-right: 1.67em; display: table-row;"> <div style="display: table-cell;"> <div style="margin-top: 0pt; margin-bottom: 0pt; margin-left: 2.222222em; font-family: arial;">•</div> </div> <div style="display: table-cell;"> <div style="margin-top: 0pt; margin-bottom: 0pt; margin-left: 0.538889em; font-family: arial;">Duration positioning, especially an overweight to longer-duration bonds.</div> </div> </div> <div style="font-size: 6pt; margin-top: 0pt; margin-bottom: 0pt;"> </div> <div style="margin-top: 0pt; margin-bottom: 0pt; margin-right: 1.67em; display: table-row;"> <div style="display: table-cell;"> <div style="margin-top: 0pt; margin-bottom: 0pt; margin-left: 2.222222em; font-family: arial;">•</div> </div> <div style="display: table-cell;"> <div style="margin-top: 0pt; margin-bottom: 0pt; margin-left: 0.538889em; font-family: arial;">Credit-quality positioning, especially an overweight to BBB-rated and BB-rated bonds.</div> </div> </div> <div style="font-size: 6pt; margin-top: 0pt; margin-bottom: 0pt;"> </div> <div style="margin-top: 0pt; margin-bottom: 0pt; margin-right: 1.67em; display: table-row;"> <div style="display: table-cell;"> <div style="margin-top: 0pt; margin-bottom: 0pt; margin-left: 2.222222em; font-family: arial;">•</div> </div> <div style="display: table-cell;"> <div style="margin-top: 0pt; margin-bottom: 0pt; margin-left: 0.538889em; font-family: arial;">Sector positioning, especially an overweight to dedicated-tax bonds.</div> </div> </div> <div style="font-size: 6pt; margin-top: 0pt; margin-bottom: 0pt;"> </div> <div style="margin-top: 0pt; margin-bottom: 0pt; margin-right: 1.67em; display: table-row;"> <div style="display: table-cell;"> <div style="margin-top: 0pt; margin-bottom: 0pt; margin-left: 2.222222em; font-family: arial;">•</div> </div> <div style="display: table-cell;"> <div style="margin-top: 0pt; margin-bottom: 0pt; margin-left: 0.538889em; font-family: arial;">Security selection in the local school district and health care bond sectors, and in Overland Park Convention Center bonds.</div> </div> </div> <div style="font-size: 6pt; margin-top: 0pt; margin-bottom: 0pt;"> </div> <div style="margin-top: 0pt; margin-bottom: 0pt; margin-right: 1.11em; font-size: 9pt; font-family: arial;">Top detractors from relative performance</div> <div style="font-size: 6pt; margin-top: 0pt; margin-bottom: 0pt;"> </div> <div style="margin-top: 0pt; margin-bottom: 0pt; margin-right: 1.67em; display: table-row;"> <div style="display: table-cell;"> <div style="margin-top: 0pt; margin-bottom: 0pt; margin-left: 2.222222em; font-family: arial;">•</div> </div> <div style="display: table-cell;"> <div style="margin-top: 0pt; margin-bottom: 0pt; margin-left: 0.538889em; font-family: arial;">An underweight to higher-education bonds.</div> </div> </div> <div style="font-size: 6pt; margin-top: 0pt; margin-bottom: 0pt;"> </div> <div style="margin-top: 0pt; margin-bottom: 0pt; margin-right: 1.67em; display: table-row;"> <div style="display: table-cell;"> <div style="margin-top: 0pt; margin-bottom: 0pt; margin-left: 2.222222em; font-family: arial;">•</div> </div> <div style="display: table-cell;"> <div style="margin-top: 0pt; margin-bottom: 0pt; margin-left: 0.538889em; font-family: arial;">Overland Park Prairiefire development bonds.</div> </div> </div> </td> </tr> </table> Performance data shown represents past performance and does not predict or guarantee future results. The<span style="font-weight: bold;"> </span>graph and table do not reflect the deduction of taxes that a shareholder would pay on Fund distributions or redemption of Fund Shares. <div style="margin: 0pt 2% 0pt 2%;"> <img alt="LOGO" src="g133061g55m01.jpg"/> </div> <div style="font-size: 9pt; font-family: arial; font-weight: bold; margin: 0pt 2% 0pt 2%;">Average Annual Total Returns</div> <table cellpadding="0" cellspacing="0" style="border-collapse: collapse; font-family: arial; font-size: 8pt; width: 96%; border-spacing: 0px; margin: 0 auto;"> <tr> <td style="width: 64%;"></td> <td style="vertical-align: bottom; width: 6%;"></td> <td></td> <td></td> <td style="vertical-align: bottom; width: 3%;"></td> <td style="vertical-align: bottom; width: 6%;"></td> <td></td> <td></td> <td style="vertical-align: bottom; width: 3%;"></td> <td style="vertical-align: bottom; width: 6%;"></td> <td></td> <td></td> <td style="vertical-align: bottom; width: 3%;"></td> </tr> <tr style="font-size: 1pt;"> <td style="height: 3pt;"></td> <td colspan="4" style="border-left: 0.75pt solid #7fb8e6; border-top: 0.75pt solid #7fb8e6; border-right: 0.75pt solid #7fb8e6; height: 3pt;"> </td> <td colspan="4" style="border-top: 0.75pt solid #7fb8e6; height: 3pt;"> </td> <td colspan="4" style="border-left: 0.75pt solid #7fb8e6; border-top: 0.75pt solid #7fb8e6; border-right: 0.75pt solid #7fb8e6; height: 3pt;"> </td> </tr> <tr style="page-break-inside: avoid; font-family: arial; font-size: 8pt;"> <td style="vertical-align: top;"> </td> <td style="border-left: 0.75pt solid #7fb8e6; vertical-align: bottom;">    </td> <td colspan="2" style="padding-bottom: 3pt; vertical-align: bottom; white-space: nowrap; text-align: center;"><span style="font-weight: bold;">1-Year</span></td> <td style="border-right: 0.75pt solid #7fb8e6; vertical-align: bottom;"> </td> <td style="vertical-align: bottom;">    </td> <td colspan="2" style="padding-bottom: 3pt; vertical-align: bottom; white-space: nowrap; text-align: center;"><span style="font-weight: bold;">5-Year</span></td> <td style="vertical-align: bottom;"> </td> <td style="border-left: 0.75pt solid #7fb8e6; vertical-align: bottom;">    </td> <td colspan="2" style="padding-bottom: 3pt; vertical-align: bottom; white-space: nowrap; text-align: center;"><span style="font-weight: bold;">10-Year</span></td> <td style="border-right: 0.75pt solid #7fb8e6; padding-right: 2pt; vertical-align: bottom;"> </td> </tr> <tr style="font-size: 1pt;"> <td style="border-left: 0.75pt solid #7fb8e6; border-top: 0.75pt solid #7fb8e6; padding-left: 8pt; height: 3pt;"> </td> <td colspan="4" style="border-left: 0.75pt solid #7fb8e6; border-top: 0.75pt solid #7fb8e6; border-right: 0.75pt solid #7fb8e6; height: 3pt;"> </td> <td colspan="4" style="border-top: 0.75pt solid #7fb8e6; height: 3pt;"> </td> <td colspan="4" style="border-left: 0.75pt solid #7fb8e6; border-top: 0.75pt solid #7fb8e6; border-right: 0.75pt solid #7fb8e6; height: 3pt;"> </td> </tr> <tr style="page-break-inside: avoid; font-family: arial; font-size: 8pt;"> <td style="padding-bottom: 3pt; border-left: 0.75pt solid #7fb8e6; padding-left: 8pt; vertical-align: top;"> <div style="margin-top: 0pt; margin-bottom: 0pt; margin-left: 1.00em; text-indent: -1.00em; font-size: 8pt; font-family: arial;">Class C Shares at NAV (excluding maximum sales charge)</div> </td> <td style="border-left: 0.75pt solid #7fb8e6; vertical-align: bottom;">    </td> <td style="padding-bottom: 3pt; white-space: nowrap; vertical-align: bottom;"> </td> <td style="padding-bottom: 3pt; white-space: nowrap; vertical-align: bottom; text-align: right;">5.90</td> <td style="padding-bottom: 3pt; border-right: 0.75pt solid #7fb8e6; white-space: nowrap; vertical-align: bottom;">% </td> <td style="vertical-align: bottom;">    </td> <td style="padding-bottom: 3pt; white-space: nowrap; vertical-align: bottom;"> </td> <td style="padding-bottom: 3pt; white-space: nowrap; vertical-align: bottom; text-align: right;">0.22</td> <td style="padding-bottom: 3pt; white-space: nowrap; vertical-align: bottom;">% </td> <td style="border-left: 0.75pt solid #7fb8e6; vertical-align: bottom;">    </td> <td style="padding-bottom: 3pt; white-space: nowrap; vertical-align: bottom;"> </td> <td style="padding-bottom: 3pt; white-space: nowrap; vertical-align: bottom; text-align: right;">1.19</td> <td style="padding-bottom: 3pt; border-right: 0.75pt solid #7fb8e6; padding-right: 2pt; white-space: nowrap; vertical-align: bottom;">% </td> </tr> <tr style="font-size: 1pt;"> <td style="border-left: 0.75pt solid #7fb8e6; border-top: 0.75pt solid #7fb8e6; padding-left: 8pt; height: 3pt;"> </td> <td colspan="4" style="border-left: 0.75pt solid #7fb8e6; border-top: 0.75pt solid #7fb8e6; border-right: 0.75pt solid #7fb8e6; height: 3pt;"> </td> <td colspan="4" style="border-top: 0.75pt solid #7fb8e6; height: 3pt;"> </td> <td colspan="4" style="border-left: 0.75pt solid #7fb8e6; border-top: 0.75pt solid #7fb8e6; border-right: 0.75pt solid #7fb8e6; height: 3pt;"> </td> </tr> <tr style="page-break-inside: avoid; font-family: arial; font-size: 8pt;"> <td style="padding-bottom: 3pt; border-left: 0.75pt solid #7fb8e6; padding-left: 8pt; vertical-align: top;"> <div style="margin-top: 0pt; margin-bottom: 0pt; margin-left: 1.00em; text-indent: -1.00em; font-size: 8pt; font-family: arial;">S&amp;P Municipal Bond Index</div> </td> <td style="border-left: 0.75pt solid #7fb8e6; vertical-align: bottom;">    </td> <td style="padding-bottom: 3pt; white-space: nowrap; vertical-align: bottom;"> </td> <td style="padding-bottom: 3pt; white-space: nowrap; vertical-align: bottom; text-align: right;">6.57</td> <td style="padding-bottom: 3pt; border-right: 0.75pt solid #7fb8e6; white-space: nowrap; vertical-align: bottom;">% </td> <td style="vertical-align: bottom;">    </td> <td style="padding-bottom: 3pt; white-space: nowrap; vertical-align: bottom;"> </td> <td style="padding-bottom: 3pt; white-space: nowrap; vertical-align: bottom; text-align: right;">1.14</td> <td style="padding-bottom: 3pt; white-space: nowrap; vertical-align: bottom;">% </td> <td style="border-left: 0.75pt solid #7fb8e6; vertical-align: bottom;">    </td> <td style="padding-bottom: 3pt; white-space: nowrap; vertical-align: bottom;"> </td> <td style="padding-bottom: 3pt; white-space: nowrap; vertical-align: bottom; text-align: right;">2.30</td> <td style="padding-bottom: 3pt; border-right: 0.75pt solid #7fb8e6; padding-right: 2pt; white-space: nowrap; vertical-align: bottom;">% </td> </tr> <tr style="font-size: 1pt;"> <td style="border-left: 0.75pt solid #7fb8e6; border-top: 0.75pt solid #7fb8e6; padding-left: 8pt; height: 3pt;"> </td> <td colspan="4" style="border-left: 0.75pt solid #7fb8e6; border-top: 0.75pt solid #7fb8e6; border-right: 0.75pt solid #7fb8e6; height: 3pt;"> </td> <td colspan="4" style="border-top: 0.75pt solid #7fb8e6; height: 3pt;"> </td> <td colspan="4" style="border-left: 0.75pt solid #7fb8e6; border-top: 0.75pt solid #7fb8e6; border-right: 0.75pt solid #7fb8e6; height: 3pt;"> </td> </tr> <tr style="page-break-inside: avoid; font-family: arial; font-size: 8pt;"> <td style="padding-bottom: 3pt; border-left: 0.75pt solid #7fb8e6; padding-left: 8pt; vertical-align: top;"> <div style="margin-top: 0pt; margin-bottom: 0pt; margin-left: 1.00em; text-indent: -1.00em; font-size: 8pt; font-family: arial;">S&amp;P Municipal Bond Kansas Index</div> </td> <td style="border-left: 0.75pt solid #7fb8e6; vertical-align: bottom;">    </td> <td style="padding-bottom: 3pt; white-space: nowrap; vertical-align: bottom;"> </td> <td style="padding-bottom: 3pt; white-space: nowrap; vertical-align: bottom; text-align: right;">6.21</td> <td style="padding-bottom: 3pt; border-right: 0.75pt solid #7fb8e6; white-space: nowrap; vertical-align: bottom;">% </td> <td style="vertical-align: bottom;">    </td> <td style="padding-bottom: 3pt; white-space: nowrap; vertical-align: bottom;"> </td> <td style="padding-bottom: 3pt; white-space: nowrap; vertical-align: bottom; text-align: right;">1.51</td> <td style="padding-bottom: 3pt; white-space: nowrap; vertical-align: bottom;">% </td> <td style="border-left: 0.75pt solid #7fb8e6; vertical-align: bottom;">    </td> <td style="padding-bottom: 3pt; white-space: nowrap; vertical-align: bottom;"> </td> <td style="padding-bottom: 3pt; white-space: nowrap; vertical-align: bottom; text-align: right;">2.30</td> <td style="padding-bottom: 3pt; border-right: 0.75pt solid #7fb8e6; padding-right: 2pt; white-space: nowrap; vertical-align: bottom;">% </td> </tr> <tr style="font-size: 1pt;"> <td style="border-left: 0.75pt solid #7fb8e6; border-top: 0.75pt solid #7fb8e6; padding-left: 8pt; height: 3pt;"> </td> <td colspan="4" style="border-left: 0.75pt solid #7fb8e6; border-top: 0.75pt solid #7fb8e6; border-right: 0.75pt solid #7fb8e6; height: 3pt;"> </td> <td colspan="4" style="border-top: 0.75pt solid #7fb8e6; height: 3pt;"> </td> <td colspan="4" style="border-left: 0.75pt solid #7fb8e6; border-top: 0.75pt solid #7fb8e6; border-right: 0.75pt solid #7fb8e6; height: 3pt;"> </td> </tr> <tr style="page-break-inside: avoid; font-family: arial; font-size: 8pt;"> <td style="padding-bottom: 3pt; border-left: 0.75pt solid #7fb8e6; border-bottom: 0.75pt solid #7fb8e6; padding-left: 8pt; vertical-align: top;"> <div style="margin-top: 0pt; margin-bottom: 0pt; margin-left: 1.00em; text-indent: -1.00em; font-size: 8pt; font-family: arial;">Lipper Other States Municipal Debt Funds Classification Average</div> </td> <td style="border-left: 0.75pt solid #7fb8e6; border-bottom: 0.75pt solid #7fb8e6; vertical-align: bottom;">    </td> <td style="padding-bottom: 3pt; border-bottom: 0.75pt solid #7fb8e6; white-space: nowrap; vertical-align: bottom;"> </td> <td style="padding-bottom: 3pt; border-bottom: 0.75pt solid #7fb8e6; white-space: nowrap; vertical-align: bottom; text-align: right;">7.08</td> <td style="padding-bottom: 3pt; border-right: 0.75pt solid #7fb8e6; border-bottom: 0.75pt solid #7fb8e6; white-space: nowrap; vertical-align: bottom;">% </td> <td style="border-bottom: 0.75pt solid #7fb8e6; vertical-align: bottom;">    </td> <td style="padding-bottom: 3pt; border-bottom: 0.75pt solid #7fb8e6; white-space: nowrap; vertical-align: bottom;"> </td> <td style="padding-bottom: 3pt; border-bottom: 0.75pt solid #7fb8e6; white-space: nowrap; vertical-align: bottom; text-align: right;">0.43</td> <td style="padding-bottom: 3pt; border-bottom: 0.75pt solid #7fb8e6; white-space: nowrap; vertical-align: bottom;">% </td> <td style="border-left: 0.75pt solid #7fb8e6; border-bottom: 0.75pt solid #7fb8e6; vertical-align: bottom;">    </td> <td style="padding-bottom: 3pt; border-bottom: 0.75pt solid #7fb8e6; white-space: nowrap; vertical-align: bottom;"> </td> <td style="padding-bottom: 3pt; border-bottom: 0.75pt solid #7fb8e6; white-space: nowrap; vertical-align: bottom; text-align: right;">1.54</td> <td style="padding-bottom: 3pt; border-right: 0.75pt solid #7fb8e6; border-bottom: 0.75pt solid #7fb8e6; padding-right: 2pt; white-space: nowrap; vertical-align: bottom;">% </td> </tr> </table> Class C Shares at NAV (excluding maximum sales charge) 0.0590 0.0022 0.0119 S&P Municipal Bond Index 0.0657 0.0114 0.0230 S&P Municipal Bond Kansas Index 0.0621 0.0151 0.0230 Lipper Other States Municipal Debt Funds Classification Average 0.0708 0.0043 0.0154 For most recent month-end performance, go to https://www.nuveen.com/en-us/mutual-funds/prospectuses or call (800) 257‑8787. <div style="margin-top: 0pt; margin-bottom: 0pt; margin-left: 2%; font-size: 11pt; font-family: arial;"><span style="color: #0071ce;"><span style="font-weight: bold;">Fund Statistics (as of May 31, 2026) </span></span></div> <table cellpadding="0" cellspacing="0" style="border-collapse: collapse; font-family: arial; font-size: 8pt; width: 96%; border-spacing: 0px; margin: 0 auto;"> <tr> <td style="width: 87%;"></td> <td style="vertical-align: bottom; width: 2%;"></td> <td></td> <td></td> <td style="vertical-align: bottom; width: 2%;"></td> </tr> <tr style="font-size: 1pt;"> <td style="height: 3pt;"></td> <td colspan="4" style="height: 3pt;"></td> </tr> <tr style="page-break-inside: avoid; font-family: arial; font-size: 8pt;"> <td style="padding-bottom: 3pt; border-bottom: 0.75pt solid #7fb8e6; vertical-align: top;"> <div style="margin-top: 0pt; margin-bottom: 0pt; margin-left: 1.00em; text-indent: -1.00em; font-size: 8pt; font-family: arial;">Fund net assets</div> </td> <td style="border-bottom: 0.75pt solid #7fb8e6; vertical-align: bottom;">  </td> <td style="padding-bottom: 3pt; border-bottom: 0.75pt solid #7fb8e6; white-space: nowrap; vertical-align: bottom;">$</td> <td style="padding-bottom: 3pt; border-bottom: 0.75pt solid #7fb8e6; white-space: nowrap; vertical-align: bottom; text-align: right;">194,548,848</td> <td style="padding-bottom: 3pt; border-bottom: 0.75pt solid #7fb8e6; white-space: nowrap; vertical-align: bottom;"> </td> </tr> <tr style="font-size: 1pt;"> <td style="height: 3pt;"></td> <td colspan="4" style="height: 3pt;"></td> </tr> <tr style="page-break-inside: avoid; font-family: arial; font-size: 8pt;"> <td style="padding-bottom: 3pt; border-bottom: 0.75pt solid #7fb8e6; vertical-align: top;"> <div style="margin-top: 0pt; margin-bottom: 0pt; margin-left: 1.00em; text-indent: -1.00em; font-size: 8pt; font-family: arial;">Total number of portfolio holdings</div> </td> <td style="border-bottom: 0.75pt solid #7fb8e6; vertical-align: bottom;">  </td> <td style="padding-bottom: 3pt; border-bottom: 0.75pt solid #7fb8e6; white-space: nowrap; vertical-align: bottom;"> </td> <td style="padding-bottom: 3pt; border-bottom: 0.75pt solid #7fb8e6; white-space: nowrap; vertical-align: bottom; text-align: right;">151</td> <td style="padding-bottom: 3pt; border-bottom: 0.75pt solid #7fb8e6; white-space: nowrap; vertical-align: bottom;"> </td> </tr> <tr style="font-size: 1pt;"> <td style="height: 3pt;"></td> <td colspan="4" style="height: 3pt;"></td> </tr> <tr style="page-break-inside: avoid; font-family: arial; font-size: 8pt;"> <td style="padding-bottom: 3pt; border-bottom: 0.75pt solid #7fb8e6; vertical-align: top;"> <div style="margin-top: 0pt; margin-bottom: 0pt; margin-left: 1.00em; text-indent: -1.00em; font-size: 8pt; font-family: arial;">Portfolio turnover (%)</div> </td> <td style="border-bottom: 0.75pt solid #7fb8e6; vertical-align: bottom;">  </td> <td style="padding-bottom: 3pt; border-bottom: 0.75pt solid #7fb8e6; white-space: nowrap; vertical-align: bottom;"> </td> <td style="padding-bottom: 3pt; border-bottom: 0.75pt solid #7fb8e6; white-space: nowrap; vertical-align: bottom; text-align: right;">15%</td> <td style="padding-bottom: 3pt; border-bottom: 0.75pt solid #7fb8e6; white-space: nowrap; vertical-align: bottom;"> </td> </tr> <tr style="font-size: 1pt;"> <td style="height: 3pt;"></td> <td colspan="4" style="height: 3pt;"></td> </tr> <tr style="page-break-inside: avoid; font-family: arial; font-size: 8pt;"> <td style="padding-bottom: 3pt; border-bottom: 0.75pt solid #7fb8e6; vertical-align: top;"> <div style="margin-top: 0pt; margin-bottom: 0pt; margin-left: 1.00em; text-indent: -1.00em; font-size: 8pt; font-family: arial;">Total management fees paid for the year</div> </td> <td style="border-bottom: 0.75pt solid #7fb8e6; vertical-align: bottom;">  </td> <td style="padding-bottom: 3pt; border-bottom: 0.75pt solid #7fb8e6; white-space: nowrap; vertical-align: bottom;">$</td> <td style="padding-bottom: 3pt; border-bottom: 0.75pt solid #7fb8e6; white-space: nowrap; vertical-align: bottom; text-align: right;">952,272</td> <td style="padding-bottom: 3pt; border-bottom: 0.75pt solid #7fb8e6; white-space: nowrap; vertical-align: bottom;"> </td> </tr> </table> 194548848 151 0.15 952272 <table cellpadding="0" cellspacing="0" style="border-collapse: collapse; font-family: arial; font-size: 9pt; width: 100%; border-spacing: 0px; margin: 0 auto;"> <tr> <td style="width: 50%;"></td> <td style="vertical-align: bottom; width: 1%;"></td> <td style="width: 49%;"></td> </tr> <tr style="page-break-inside: avoid; font-family: arial; font-size: 9pt;"> <td style="vertical-align: top;"> <div style="margin: 0pt 1.11em 0pt 1.11em;"> <img alt="LOGO" src="g133061g55m02.jpg"/> </div> </td> <td style="vertical-align: bottom;"> </td> <td style="vertical-align: top;"> <div style="margin: 0pt 1.11em 0pt 1.11em;"> <img alt="LOGO" src="g133061g55m03.jpg"/> </div> </td> </tr> </table> <table cellpadding="0" cellspacing="0" style="border-collapse: collapse; font-family: arial; font-size: 8pt; border-spacing: 0px; width: 100%;"> <tr style="page-break-inside: avoid;"> <td style="width: 1%;"> </td> <td style="width: 4%; vertical-align: top; text-align: left;">(1)</td> <td style="vertical-align: top; text-align: left;"> <div style="margin-top: 0pt; margin-bottom: 0pt; font-size: 8pt; font-family: arial; text-align: left;">The ratings disclosed are the highest rating given by one of the following national rating agencies: Standard &amp; Poor’s (S&amp;P), Moody’s Investors Service, Inc. (Moody’s) or Fitch, Inc (Fitch). This treatment of split-rated securities may differ from that used for other purposes, such as for Fund investment policies. Credit ratings are subject to change. AAA, AA, A, and BBB are investment grade ratings; BB, B, CCC, CC, C and D are below-investment grade ratings. Holdings designated N/R are not rated by these national ratings agencies.</div> </td> </tr> </table> The ratings disclosed are the highest rating given by one of the following national rating agencies: Standard &amp; Poor’s (S&amp;P), Moody’s Investors Service, Inc. (Moody’s) or Fitch, Inc (Fitch). This treatment of split-rated securities may differ from that used for other purposes, such as for Fund investment policies. Credit ratings are subject to change. AAA, AA, A, and BBB are investment grade ratings; BB, B, CCC, CC, C and D are below-investment grade ratings. Holdings designated N/R are not rated by these national ratings agencies. <div style="margin-top: 0pt; margin-bottom: 0pt; margin-left: 2%; font-size: 11pt; font-family: arial;"><span style="color: #0071ce;"><span style="font-weight: bold;">How has the Fund changed? </span></span></div> <div style="margin-top: 6pt; margin-bottom: 0pt; margin-left: 2%; font-size: 9pt; font-family: arial; font-weight: bold;">For more complete information, you may review the Fund’s next prospectus, which is expected to be available by September 30, 2026 at https://www.nuveen.com/en-us/mutual-funds/prospectuses or upon request at (800) 257-8787.</div> <div style="margin-top: 6pt; margin-bottom: 0pt; margin-left: 2%; font-size: 9pt; font-family: arial; font-weight: bold;">For more complete information, you may review the Fund’s next prospectus, which is expected to be available by September 30, 2026 at https://www.nuveen.com/en-us/mutual-funds/prospectuses or upon request at (800) 257-8787.</div> https://www.nuveen.com/en-us/mutual-funds/prospectuses (800) 257-8787 Nuveen Kansas Municipal Bond Fund Class I Shares FRKSX This annual shareholder report contains important information about the Class I Shares of the Nuveen Kansas Municipal Bond Fund for the period of June 1, 2025 to May 31, 2026. annual shareholder report You can find additional information at https://www.nuveen.com/en-us/mutual-funds/prospectuses. You can also request this information by contacting us at (800) 257-8787. https://www.nuveen.com/en-us/mutual-funds/prospectuses (800) 257-8787 <div style="margin-top:18pt;margin-bottom:0pt;margin-left:2%;margin-right:2%;font-size:9pt;font-family:arial;font-weight:bold;">This report describes changes to the Fund that occurred during the reporting period. </div> <div style="margin-top:0pt;margin-bottom:0pt;margin-left:2%;font-size:11pt;font-family:arial;"><span style="color:#0071ce"><span style="font-weight:bold">What were the Fund costs for the last year? </span></span><span style="font-family:arial">(based on a hypothetical $10,000 investment)</span><span style="font-family:arial;color:#0071ce"><span style="font-weight:bold"> </span></span></div> <table cellpadding="0" cellspacing="0" style="border-collapse:collapse;font-family:arial;font-size:8pt;width:96%;border-spacing:0px;margin:0 auto"> <tr> <td style="width:33%;"></td> <td style="vertical-align:bottom;"></td> <td style="width:33%;"></td> <td style="vertical-align:bottom;"></td> <td style="width:32%;"></td> </tr> <tr style="font-size:1pt"> <td style="height:3pt;"></td> <td colspan="2" style="BORDER-LEFT:0.75pt solid #7fb8e6; BORDER-TOP:0.75pt solid #7fb8e6;height:3pt;"> </td> <td colspan="2" style="BORDER-LEFT:0.75pt solid #7fb8e6; BORDER-TOP:0.75pt solid #7fb8e6; BORDER-RIGHT:0.75pt solid #7fb8e6;height:3pt;"> </td> </tr> <tr style="page-break-inside:avoid;font-family:arial;font-size:8pt"> <td style="vertical-align:bottom;"> </td> <td style=" BORDER-LEFT:0.75pt solid #7fb8e6;vertical-align:bottom;"> </td> <td style="padding-bottom:3pt ;vertical-align:middle;text-align:right;"><span style="font-weight:bold">Cost of a $10,000 investment </span></td> <td style=" BORDER-LEFT:0.75pt solid #7fb8e6;vertical-align:bottom;"> </td> <td style="padding-bottom:3pt ;BORDER-RIGHT:0.75pt solid #7fb8e6; padding-right:2pt;vertical-align:bottom;text-align:right;"><span style="font-weight:bold">Costs paid as a percentage of<br/> $10,000 investment*</span></td> </tr> <tr style="font-size:1pt"> <td style="BORDER-LEFT:0.75pt solid #7fb8e6; BORDER-TOP:0.75pt solid #7fb8e6; padding-left:8pt;height:3pt;"> </td> <td colspan="2" style="BORDER-LEFT:0.75pt solid #7fb8e6; BORDER-TOP:0.75pt solid #7fb8e6;height:3pt;"> </td> <td colspan="2" style="BORDER-LEFT:0.75pt solid #7fb8e6; BORDER-TOP:0.75pt solid #7fb8e6; BORDER-RIGHT:0.75pt solid #7fb8e6;height:3pt;"> </td> </tr> <tr style="page-break-inside:avoid;font-family:arial;font-size:8pt"> <td style="padding-bottom:3pt ;BORDER-LEFT:0.75pt solid #7fb8e6; BORDER-BOTTOM:0.75pt solid #7fb8e6; padding-left:8pt;vertical-align:top;"> <div style="margin-top:0pt;margin-bottom:0pt;margin-left:1.00em;text-indent:-1.00em;font-size:8pt;font-family:arial;">Class I Shares</div></td> <td style=" BORDER-LEFT:0.75pt solid #7fb8e6; BORDER-BOTTOM:0.75pt solid #7fb8e6;vertical-align:bottom;"> </td> <td style="padding-bottom:3pt ;BORDER-BOTTOM:0.75pt solid #7fb8e6;vertical-align:bottom;white-space:nowrap;text-align:right;">$64 </td> <td style=" BORDER-LEFT:0.75pt solid #7fb8e6; BORDER-BOTTOM:0.75pt solid #7fb8e6;vertical-align:bottom;"> </td> <td style="padding-bottom:3pt ;BORDER-RIGHT:0.75pt solid #7fb8e6; BORDER-BOTTOM:0.75pt solid #7fb8e6; padding-right:2pt;vertical-align:bottom;white-space:nowrap;text-align:right;">0.62%</td> </tr> </table> <table cellpadding="0" cellspacing="0" style="border-collapse:collapse;font-family:arial;font-size:8pt;border-spacing:0px;width:100%"> <tr style="page-break-inside:avoid"> <td style="width:3%;"> </td> <td style="width:1%;vertical-align:top;text-align:right;">*</td> <td style="width:1%;vertical-align:top;"> </td> <td style="vertical-align:top;text-align:left;"> <div style="margin-top:0pt;margin-bottom:0pt;font-family:arial;font-size:8pt;text-align:justify;">Annualized for period less than one year. </div></td> <td style="width:2%;"> </td> </tr></table> 64 0.0062 <div style="margin-top:0pt;margin-bottom:0pt;margin-left:2%;font-size:11pt;font-family:arial;"><span style="color:#0071ce"><span style="font-weight:bold">How did the Fund perform last year? What affected the Fund’s performance? </span></span></div> <table cellpadding="0" cellspacing="0" style="border-collapse:collapse;font-family:arial;font-size:9pt;width:96%;border-spacing:0px;margin:0 auto"> <tr> <td style="width:100%;"></td> </tr> <tr style="page-break-inside:avoid;font-family:arial;font-size:9pt"> <td style="vertical-align:top;"> <div style="margin-top:0pt;margin-bottom:0pt;font-size:9pt;font-family:arial;font-weight:bold;">Performance Highlights</div> <div style="font-size:6pt;margin-top:0pt;margin-bottom:0pt;"> </div> <div style="margin-top:0pt;margin-bottom:0pt;margin-right:1.11em;font-size:9pt;font-family:arial;">The Nuveen Kansas Municipal Bond Fund returned 6.94% for Class I Shares at net asset value (NAV) for the 12 months ended May 31, 2026. The Fund outperformed the S&amp;P Municipal Bond Kansas Index, which returned 6.21%.</div> <div style="font-size:6pt;margin-top:0pt;margin-bottom:0pt;"> </div> <div style="margin-top:0pt;margin-bottom:0pt;margin-right:1.11em;font-size:9pt;font-family:arial;">Top contributors to relative performance</div> <div style="font-size:6pt;margin-top:0pt;margin-bottom:0pt;"> </div> <div style="margin-top:0pt;margin-bottom:0pt;margin-right:1.67em;display:table-row;"> <div style="display:table-cell;"> <div style="margin-top:0pt;margin-bottom:0pt;margin-left:2.222222em;font-family:arial;">•</div></div> <div style="display:table-cell;"> <div style="margin-top:0pt;margin-bottom:0pt;margin-left:0.538889em;font-family:arial;">Duration positioning, especially an overweight to longer-duration bonds.</div></div></div> <div style="font-size:6pt;margin-top:0pt;margin-bottom:0pt;"> </div> <div style="margin-top:0pt;margin-bottom:0pt;margin-right:1.67em;display:table-row;"> <div style="display:table-cell;"> <div style="margin-top:0pt;margin-bottom:0pt;margin-left:2.222222em;font-family:arial;">•</div></div> <div style="display:table-cell;"> <div style="margin-top:0pt;margin-bottom:0pt;margin-left:0.538889em;font-family:arial;">Credit-quality positioning, especially an overweight to BBB-rated and BB-rated bonds.</div></div></div> <div style="font-size:6pt;margin-top:0pt;margin-bottom:0pt;"> </div> <div style="margin-top:0pt;margin-bottom:0pt;margin-right:1.67em;display:table-row;"> <div style="display:table-cell;"> <div style="margin-top:0pt;margin-bottom:0pt;margin-left:2.222222em;font-family:arial;">•</div></div> <div style="display:table-cell;"> <div style="margin-top:0pt;margin-bottom:0pt;margin-left:0.538889em;font-family:arial;">Sector positioning, especially an overweight to dedicated-tax bonds.</div></div></div> <div style="font-size:6pt;margin-top:0pt;margin-bottom:0pt;"> </div> <div style="margin-top:0pt;margin-bottom:0pt;margin-right:1.67em;display:table-row;"> <div style="display:table-cell;"> <div style="margin-top:0pt;margin-bottom:0pt;margin-left:2.222222em;font-family:arial;">•</div></div> <div style="display:table-cell;"> <div style="margin-top:0pt;margin-bottom:0pt;margin-left:0.538889em;font-family:arial;">Security selection in the local school district and health care bond sectors, and in Overland Park Convention Center bonds.</div></div></div> <div style="font-size:6pt;margin-top:0pt;margin-bottom:0pt;"> </div> <div style="margin-top:0pt;margin-bottom:0pt;margin-right:1.11em;font-size:9pt;font-family:arial;">Top detractors from relative performance</div> <div style="font-size:6pt;margin-top:0pt;margin-bottom:0pt;"> </div> <div style="margin-top:0pt;margin-bottom:0pt;margin-right:1.67em;display:table-row;"> <div style="display:table-cell;"> <div style="margin-top:0pt;margin-bottom:0pt;margin-left:2.222222em;font-family:arial;">•</div></div> <div style="display:table-cell;"> <div style="margin-top:0pt;margin-bottom:0pt;margin-left:0.538889em;font-family:arial;">An underweight to higher-education bonds.</div></div></div> <div style="font-size:6pt;margin-top:0pt;margin-bottom:0pt;"> </div> <div style="margin-top:0pt;margin-bottom:0pt;margin-right:1.67em;display:table-row;"> <div style="display:table-cell;"> <div style="margin-top:0pt;margin-bottom:0pt;margin-left:2.222222em;font-family:arial;">•</div></div> <div style="display:table-cell;"> <div style="margin-top:0pt;margin-bottom:0pt;margin-left:0.538889em;font-family:arial;">Overland Park Prairiefire development bonds.</div></div></div></td> </tr> </table> Performance data shown represents past performance and does not predict or guarantee future results. The<span style="font-weight:bold"> </span>graph and table do not reflect the deduction of taxes that a shareholder would pay on Fund distributions or redemption of Fund Shares. <div style="margin-top:0pt;margin-bottom:0pt;margin-left:2%;margin-right:2%;"> <img alt="LOGO" src="g133061g08l01.jpg"/> </div> <div style="margin-top:0pt;margin-bottom:0pt;margin-left:2%;margin-right:2%;font-size:9pt;font-family:arial;font-weight:bold;">Average Annual Total Returns </div> <table cellpadding="0" cellspacing="0" style="border-collapse:collapse;font-family:arial;font-size:8pt;width:96%;border-spacing:0px;margin:0 auto"> <tr> <td style="width:64%;"></td> <td style="vertical-align:bottom;width:6%;"></td> <td></td> <td></td> <td style="vertical-align:bottom;width:3%;"></td> <td style="vertical-align:bottom;width:6%;"></td> <td></td> <td></td> <td style="vertical-align:bottom;width:3%;"></td> <td style="vertical-align:bottom;width:6%;"></td> <td></td> <td></td> <td style="vertical-align:bottom;width:3%;"></td> </tr> <tr style="font-size:1pt"> <td style="height:3pt;"></td> <td colspan="4" style="BORDER-LEFT:0.75pt solid #7fb8e6; BORDER-TOP:0.75pt solid #7fb8e6; BORDER-RIGHT:0.75pt solid #7fb8e6;height:3pt;"> </td> <td colspan="4" style="BORDER-TOP:0.75pt solid #7fb8e6;height:3pt;"> </td> <td colspan="4" style="BORDER-LEFT:0.75pt solid #7fb8e6; BORDER-TOP:0.75pt solid #7fb8e6; BORDER-RIGHT:0.75pt solid #7fb8e6;height:3pt;"> </td> </tr> <tr style="page-break-inside:avoid;font-family:arial;font-size:8pt"> <td style="vertical-align:top;"> </td> <td style=" BORDER-LEFT:0.75pt solid #7fb8e6;vertical-align:bottom;">    </td> <td colspan="2" style="padding-bottom:3pt ;vertical-align:bottom;white-space:nowrap;text-align:center;"><span style="font-weight:bold">1-Year</span></td> <td style=" BORDER-RIGHT:0.75pt solid #7fb8e6;vertical-align:bottom;"> </td> <td style="vertical-align:bottom;">    </td> <td colspan="2" style="padding-bottom:3pt ;vertical-align:bottom;white-space:nowrap;text-align:center;"><span style="font-weight:bold">5-Year</span></td> <td style="vertical-align:bottom;"> </td> <td style=" BORDER-LEFT:0.75pt solid #7fb8e6;vertical-align:bottom;">    </td> <td colspan="2" style="padding-bottom:3pt ;vertical-align:bottom;white-space:nowrap;text-align:center;"><span style="font-weight:bold">10-Year</span></td> <td style=" BORDER-RIGHT:0.75pt solid #7fb8e6; padding-right:2pt;vertical-align:bottom;"> </td> </tr> <tr style="font-size:1pt"> <td style="BORDER-LEFT:0.75pt solid #7fb8e6; BORDER-TOP:0.75pt solid #7fb8e6; padding-left:8pt;height:3pt;"> </td> <td colspan="4" style="BORDER-LEFT:0.75pt solid #7fb8e6; BORDER-TOP:0.75pt solid #7fb8e6; BORDER-RIGHT:0.75pt solid #7fb8e6;height:3pt;"> </td> <td colspan="4" style="BORDER-TOP:0.75pt solid #7fb8e6;height:3pt;"> </td> <td colspan="4" style="BORDER-LEFT:0.75pt solid #7fb8e6; BORDER-TOP:0.75pt solid #7fb8e6; BORDER-RIGHT:0.75pt solid #7fb8e6;height:3pt;"> </td> </tr> <tr style="page-break-inside:avoid;font-family:arial;font-size:8pt"> <td style="padding-bottom:3pt ;BORDER-LEFT:0.75pt solid #7fb8e6; padding-left:8pt;vertical-align:top;"> <div style="margin-top:0pt;margin-bottom:0pt;margin-left:1.00em;text-indent:-1.00em;font-size:8pt;font-family:arial;">Class I Shares at NAV</div></td> <td style=" BORDER-LEFT:0.75pt solid #7fb8e6;vertical-align:bottom;">    </td> <td style="padding-bottom:3pt ;white-space:nowrap;vertical-align:bottom;"> </td> <td style="padding-bottom:3pt ;white-space:nowrap;vertical-align:bottom;text-align:right;">6.94</td> <td style="padding-bottom:3pt ;BORDER-RIGHT:0.75pt solid #7fb8e6;white-space:nowrap;vertical-align:bottom;">% </td> <td style="vertical-align:bottom;">    </td> <td style="padding-bottom:3pt ;white-space:nowrap;vertical-align:bottom;"> </td> <td style="padding-bottom:3pt ;white-space:nowrap;vertical-align:bottom;text-align:right;">1.23</td> <td style="padding-bottom:3pt ;white-space:nowrap;vertical-align:bottom;">% </td> <td style=" BORDER-LEFT:0.75pt solid #7fb8e6;vertical-align:bottom;">    </td> <td style="padding-bottom:3pt ;white-space:nowrap;vertical-align:bottom;"> </td> <td style="padding-bottom:3pt ;white-space:nowrap;vertical-align:bottom;text-align:right;">2.05</td> <td style="padding-bottom:3pt ;BORDER-RIGHT:0.75pt solid #7fb8e6; padding-right:2pt;white-space:nowrap;vertical-align:bottom;">% </td> </tr> <tr style="font-size:1pt"> <td style="BORDER-LEFT:0.75pt solid #7fb8e6; BORDER-TOP:0.75pt solid #7fb8e6; padding-left:8pt;height:3pt;"> </td> <td colspan="4" style="BORDER-LEFT:0.75pt solid #7fb8e6; BORDER-TOP:0.75pt solid #7fb8e6; BORDER-RIGHT:0.75pt solid #7fb8e6;height:3pt;"> </td> <td colspan="4" style="BORDER-TOP:0.75pt solid #7fb8e6;height:3pt;"> </td> <td colspan="4" style="BORDER-LEFT:0.75pt solid #7fb8e6; BORDER-TOP:0.75pt solid #7fb8e6; BORDER-RIGHT:0.75pt solid #7fb8e6;height:3pt;"> </td> </tr> <tr style="page-break-inside:avoid;font-family:arial;font-size:8pt"> <td style="padding-bottom:3pt ;BORDER-LEFT:0.75pt solid #7fb8e6; padding-left:8pt;vertical-align:top;"> <div style="margin-top:0pt;margin-bottom:0pt;margin-left:1.00em;text-indent:-1.00em;font-size:8pt;font-family:arial;">S&amp;P Municipal Bond Index</div></td> <td style=" BORDER-LEFT:0.75pt solid #7fb8e6;vertical-align:bottom;">    </td> <td style="padding-bottom:3pt ;white-space:nowrap;vertical-align:bottom;"> </td> <td style="padding-bottom:3pt ;white-space:nowrap;vertical-align:bottom;text-align:right;">6.57</td> <td style="padding-bottom:3pt ;BORDER-RIGHT:0.75pt solid #7fb8e6;white-space:nowrap;vertical-align:bottom;">% </td> <td style="vertical-align:bottom;">    </td> <td style="padding-bottom:3pt ;white-space:nowrap;vertical-align:bottom;"> </td> <td style="padding-bottom:3pt ;white-space:nowrap;vertical-align:bottom;text-align:right;">1.14</td> <td style="padding-bottom:3pt ;white-space:nowrap;vertical-align:bottom;">% </td> <td style=" BORDER-LEFT:0.75pt solid #7fb8e6;vertical-align:bottom;">    </td> <td style="padding-bottom:3pt ;white-space:nowrap;vertical-align:bottom;"> </td> <td style="padding-bottom:3pt ;white-space:nowrap;vertical-align:bottom;text-align:right;">2.30</td> <td style="padding-bottom:3pt ;BORDER-RIGHT:0.75pt solid #7fb8e6; padding-right:2pt;white-space:nowrap;vertical-align:bottom;">% </td> </tr> <tr style="font-size:1pt"> <td style="BORDER-LEFT:0.75pt solid #7fb8e6; BORDER-TOP:0.75pt solid #7fb8e6; padding-left:8pt;height:3pt;"> </td> <td colspan="4" style="BORDER-LEFT:0.75pt solid #7fb8e6; BORDER-TOP:0.75pt solid #7fb8e6; BORDER-RIGHT:0.75pt solid #7fb8e6;height:3pt;"> </td> <td colspan="4" style="BORDER-TOP:0.75pt solid #7fb8e6;height:3pt;"> </td> <td colspan="4" style="BORDER-LEFT:0.75pt solid #7fb8e6; BORDER-TOP:0.75pt solid #7fb8e6; BORDER-RIGHT:0.75pt solid #7fb8e6;height:3pt;"> </td> </tr> <tr style="page-break-inside:avoid;font-family:arial;font-size:8pt"> <td style="padding-bottom:3pt ;BORDER-LEFT:0.75pt solid #7fb8e6; padding-left:8pt;vertical-align:top;"> <div style="margin-top:0pt;margin-bottom:0pt;margin-left:1.00em;text-indent:-1.00em;font-size:8pt;font-family:arial;">S&amp;P Municipal Bond Kansas Index</div></td> <td style=" BORDER-LEFT:0.75pt solid #7fb8e6;vertical-align:bottom;">    </td> <td style="padding-bottom:3pt ;white-space:nowrap;vertical-align:bottom;"> </td> <td style="padding-bottom:3pt ;white-space:nowrap;vertical-align:bottom;text-align:right;">6.21</td> <td style="padding-bottom:3pt ;BORDER-RIGHT:0.75pt solid #7fb8e6;white-space:nowrap;vertical-align:bottom;">% </td> <td style="vertical-align:bottom;">    </td> <td style="padding-bottom:3pt ;white-space:nowrap;vertical-align:bottom;"> </td> <td style="padding-bottom:3pt ;white-space:nowrap;vertical-align:bottom;text-align:right;">1.51</td> <td style="padding-bottom:3pt ;white-space:nowrap;vertical-align:bottom;">% </td> <td style=" BORDER-LEFT:0.75pt solid #7fb8e6;vertical-align:bottom;">    </td> <td style="padding-bottom:3pt ;white-space:nowrap;vertical-align:bottom;"> </td> <td style="padding-bottom:3pt ;white-space:nowrap;vertical-align:bottom;text-align:right;">2.30</td> <td style="padding-bottom:3pt ;BORDER-RIGHT:0.75pt solid #7fb8e6; padding-right:2pt;white-space:nowrap;vertical-align:bottom;">% </td> </tr> <tr style="font-size:1pt"> <td style="BORDER-LEFT:0.75pt solid #7fb8e6; BORDER-TOP:0.75pt solid #7fb8e6; padding-left:8pt;height:3pt;"> </td> <td colspan="4" style="BORDER-LEFT:0.75pt solid #7fb8e6; BORDER-TOP:0.75pt solid #7fb8e6; BORDER-RIGHT:0.75pt solid #7fb8e6;height:3pt;"> </td> <td colspan="4" style="BORDER-TOP:0.75pt solid #7fb8e6;height:3pt;"> </td> <td colspan="4" style="BORDER-LEFT:0.75pt solid #7fb8e6; BORDER-TOP:0.75pt solid #7fb8e6; BORDER-RIGHT:0.75pt solid #7fb8e6;height:3pt;"> </td> </tr> <tr style="page-break-inside:avoid;font-family:arial;font-size:8pt"> <td style="padding-bottom:3pt ;BORDER-LEFT:0.75pt solid #7fb8e6; BORDER-BOTTOM:0.75pt solid #7fb8e6; padding-left:8pt;vertical-align:top;"> <div style="margin-top:0pt;margin-bottom:0pt;margin-left:1.00em;text-indent:-1.00em;font-size:8pt;font-family:arial;">Lipper Other States Municipal Debt Funds Classification Average</div></td> <td style=" BORDER-LEFT:0.75pt solid #7fb8e6; BORDER-BOTTOM:0.75pt solid #7fb8e6;vertical-align:bottom;">    </td> <td style="padding-bottom:3pt ;BORDER-BOTTOM:0.75pt solid #7fb8e6;white-space:nowrap;vertical-align:bottom;"> </td> <td style="padding-bottom:3pt ;BORDER-BOTTOM:0.75pt solid #7fb8e6;white-space:nowrap;vertical-align:bottom;text-align:right;">7.08</td> <td style="padding-bottom:3pt ;BORDER-RIGHT:0.75pt solid #7fb8e6; BORDER-BOTTOM:0.75pt solid #7fb8e6;white-space:nowrap;vertical-align:bottom;">% </td> <td style=" BORDER-BOTTOM:0.75pt solid #7fb8e6;vertical-align:bottom;">    </td> <td style="padding-bottom:3pt ;BORDER-BOTTOM:0.75pt solid #7fb8e6;white-space:nowrap;vertical-align:bottom;"> </td> <td style="padding-bottom:3pt ;BORDER-BOTTOM:0.75pt solid #7fb8e6;white-space:nowrap;vertical-align:bottom;text-align:right;">0.43</td> <td style="padding-bottom:3pt ;BORDER-BOTTOM:0.75pt solid #7fb8e6;white-space:nowrap;vertical-align:bottom;">% </td> <td style=" BORDER-LEFT:0.75pt solid #7fb8e6; BORDER-BOTTOM:0.75pt solid #7fb8e6;vertical-align:bottom;">    </td> <td style="padding-bottom:3pt ;BORDER-BOTTOM:0.75pt solid #7fb8e6;white-space:nowrap;vertical-align:bottom;"> </td> <td style="padding-bottom:3pt ;BORDER-BOTTOM:0.75pt solid #7fb8e6;white-space:nowrap;vertical-align:bottom;text-align:right;">1.54</td> <td style="padding-bottom:3pt ;BORDER-RIGHT:0.75pt solid #7fb8e6; BORDER-BOTTOM:0.75pt solid #7fb8e6; padding-right:2pt;white-space:nowrap;vertical-align:bottom;">% </td> </tr> </table> Class I Shares at NAV 0.0694 0.0123 0.0205 S&P Municipal Bond Index 0.0657 0.0114 0.0230 S&P Municipal Bond Kansas Index 0.0621 0.0151 0.0230 Lipper Other States Municipal Debt Funds Classification Average 0.0708 0.0043 0.0154 For most recent month-end performance, go to https://www.nuveen.com/en-us/mutual-funds/prospectuses or call (800) 257‑8787. <div style="margin-top:0pt;margin-bottom:0pt;margin-left:2%;font-size:11pt;font-family:arial;"><span style="color:#0071ce"><span style="font-weight:bold">Fund Statistics (as of May 31, 2026) </span></span></div> <table cellpadding="0" cellspacing="0" style="border-collapse:collapse;font-family:arial;font-size:8pt;width:96%;border-spacing:0px;margin:0 auto"> <tr> <td style="width:87%;"></td> <td style="vertical-align:bottom;width:2%;"></td> <td></td> <td></td> <td style="vertical-align:bottom;width:2%;"></td> </tr> <tr style="font-size:1pt"> <td style="height:3pt;"></td> <td colspan="4" style="height:3pt;"></td> </tr> <tr style="page-break-inside:avoid;font-family:arial;font-size:8pt"> <td style="padding-bottom:3pt ;BORDER-BOTTOM:0.75pt solid #7fb8e6;vertical-align:top;"> <div style="margin-top:0pt;margin-bottom:0pt;margin-left:1.00em;text-indent:-1.00em;font-size:8pt;font-family:arial;">Fund net assets</div></td> <td style=" BORDER-BOTTOM:0.75pt solid #7fb8e6;vertical-align:bottom;">  </td> <td style="padding-bottom:3pt ;BORDER-BOTTOM:0.75pt solid #7fb8e6;white-space:nowrap;vertical-align:bottom;">$</td> <td style="padding-bottom:3pt ;BORDER-BOTTOM:0.75pt solid #7fb8e6;white-space:nowrap;vertical-align:bottom;text-align:right;">194,548,848</td> <td style="padding-bottom:3pt ;BORDER-BOTTOM:0.75pt solid #7fb8e6;white-space:nowrap;vertical-align:bottom;"> </td> </tr> <tr style="font-size:1pt"> <td style="height:3pt;"></td> <td colspan="4" style="height:3pt;"></td> </tr> <tr style="page-break-inside:avoid;font-family:arial;font-size:8pt"> <td style="padding-bottom:3pt ;BORDER-BOTTOM:0.75pt solid #7fb8e6;vertical-align:top;"> <div style="margin-top:0pt;margin-bottom:0pt;margin-left:1.00em;text-indent:-1.00em;font-size:8pt;font-family:arial;">Total number of portfolio holdings</div></td> <td style=" BORDER-BOTTOM:0.75pt solid #7fb8e6;vertical-align:bottom;">  </td> <td style="padding-bottom:3pt ;BORDER-BOTTOM:0.75pt solid #7fb8e6;white-space:nowrap;vertical-align:bottom;"> </td> <td style="padding-bottom:3pt ;BORDER-BOTTOM:0.75pt solid #7fb8e6;white-space:nowrap;vertical-align:bottom;text-align:right;">151</td> <td style="padding-bottom:3pt ;BORDER-BOTTOM:0.75pt solid #7fb8e6;white-space:nowrap;vertical-align:bottom;"> </td> </tr> <tr style="font-size:1pt"> <td style="height:3pt;"></td> <td colspan="4" style="height:3pt;"></td> </tr> <tr style="page-break-inside:avoid;font-family:arial;font-size:8pt"> <td style="padding-bottom:3pt ;BORDER-BOTTOM:0.75pt solid #7fb8e6;vertical-align:top;"> <div style="margin-top:0pt;margin-bottom:0pt;margin-left:1.00em;text-indent:-1.00em;font-size:8pt;font-family:arial;">Portfolio turnover (%)</div></td> <td style=" BORDER-BOTTOM:0.75pt solid #7fb8e6;vertical-align:bottom;">  </td> <td style="padding-bottom:3pt ;BORDER-BOTTOM:0.75pt solid #7fb8e6;white-space:nowrap;vertical-align:bottom;"> </td> <td style="padding-bottom:3pt ;BORDER-BOTTOM:0.75pt solid #7fb8e6;white-space:nowrap;vertical-align:bottom;text-align:right;">15%</td> <td style="padding-bottom:3pt ;BORDER-BOTTOM:0.75pt solid #7fb8e6;white-space:nowrap;vertical-align:bottom;"> </td> </tr> <tr style="font-size:1pt"> <td style="height:3pt;"></td> <td colspan="4" style="height:3pt;"></td> </tr> <tr style="page-break-inside:avoid;font-family:arial;font-size:8pt"> <td style="padding-bottom:3pt ;BORDER-BOTTOM:0.75pt solid #7fb8e6;vertical-align:top;"> <div style="margin-top:0pt;margin-bottom:0pt;margin-left:1.00em;text-indent:-1.00em;font-size:8pt;font-family:arial;">Total management fees paid for the year</div></td> <td style=" BORDER-BOTTOM:0.75pt solid #7fb8e6;vertical-align:bottom;">  </td> <td style="padding-bottom:3pt ;BORDER-BOTTOM:0.75pt solid #7fb8e6;white-space:nowrap;vertical-align:bottom;">$</td> <td style="padding-bottom:3pt ;BORDER-BOTTOM:0.75pt solid #7fb8e6;white-space:nowrap;vertical-align:bottom;text-align:right;">952,272</td> <td style="padding-bottom:3pt ;BORDER-BOTTOM:0.75pt solid #7fb8e6;white-space:nowrap;vertical-align:bottom;"> </td> </tr> </table> 194548848 151 0.15 952272 <table cellpadding="0" cellspacing="0" style="border-collapse:collapse;font-family:arial;font-size:9pt;width:100%;border-spacing:0px;margin:0 auto"> <tr> <td style="width:50%;"></td> <td style="vertical-align:bottom;width:1%;"></td> <td style="width:49%;"></td> </tr> <tr style="page-break-inside:avoid;font-family:arial;font-size:9pt"> <td style="vertical-align:top;"> <div style="margin-top:0pt;margin-bottom:0pt;margin-left:1.11em;margin-right:1.11em;"> <img alt="LOGO" src="g133061g09b01.jpg"/> </div></td> <td style="vertical-align:bottom;"> </td> <td style="vertical-align:top;"> <div style="margin-top:0pt;margin-bottom:0pt;margin-left:1.11em;margin-right:1.11em;"> <img alt="LOGO" src="g133061g09b02.jpg"/> </div></td> </tr> </table> <table cellpadding="0" cellspacing="0" style="border-collapse:collapse;font-family:arial;font-size:8pt;border-spacing:0px;width:100%"> <tr style="page-break-inside:avoid"> <td style="width:1%;"> </td> <td style="width:4%;vertical-align:top;text-align:left;">(1)</td> <td style="vertical-align:top;text-align:left;"> <div style="margin-top:0pt;margin-bottom:0pt;font-size:8pt;font-family:arial;text-align:left;">The ratings disclosed are the highest rating given by one of the following national rating agencies: Standard &amp; Poor’s (S&amp;P), Moody’s Investors Service, Inc. (Moody’s) or Fitch, Inc (Fitch). This treatment of split-rated securities may differ from that used for other purposes, such as for Fund investment policies. Credit ratings are subject to change. AAA, AA, A, and BBB are investment grade ratings; BB, B, CCC, CC, C and D are below-investment grade ratings. Holdings designated N/R are not rated by these national ratings agencies. </div></td> </tr></table> The ratings disclosed are the highest rating given by one of the following national rating agencies: Standard &amp; Poor’s (S&amp;P), Moody’s Investors Service, Inc. (Moody’s) or Fitch, Inc (Fitch). This treatment of split-rated securities may differ from that used for other purposes, such as for Fund investment policies. Credit ratings are subject to change. AAA, AA, A, and BBB are investment grade ratings; BB, B, CCC, CC, C and D are below-investment grade ratings. Holdings designated N/R are not rated by these national ratings agencies. <div style="margin-top:0pt;margin-bottom:0pt;margin-left:2%;font-size:11pt;font-family:arial;"><span style="color:#0071ce"><span style="font-weight:bold">How has the Fund changed? </span></span></div><div style="margin-top:6pt;margin-bottom:0pt;margin-left:2%;font-size:9pt;font-family:arial;font-weight:bold;">For more complete information, you may review the Fund’s next prospectus, which is expected to be available by September 30, 2026 at https://www.nuveen.com/en-us/mutual-funds/prospectuses or upon request at (800) 257-8787. </div> <div style="margin-top:6pt;margin-bottom:0pt;margin-left:2%;font-size:9pt;font-family:arial;font-weight:bold;">For more complete information, you may review the Fund’s next prospectus, which is expected to be available by September 30, 2026 at https://www.nuveen.com/en-us/mutual-funds/prospectuses or upon request at (800) 257-8787. </div> https://www.nuveen.com/en-us/mutual-funds/prospectuses (800) 257-8787 Nuveen Kentucky Municipal Bond Fund Class A Shares FKYTX This annual shareholder report contains important information about the Class A Shares of the Nuveen Kentucky Municipal Bond Fund for the period of June 1, 2025 to May 31, 2026. annual shareholder report You can find additional information at https://www.nuveen.com/en-us/mutual-funds/prospectuses. You can also request this information by contacting us at (800) 257-8787. https://www.nuveen.com/en-us/mutual-funds/prospectuses (800) 257-8787 <div style="margin-top:18pt;margin-bottom:0pt;margin-left:2%;margin-right:2%;font-size:9pt;font-family:arial;font-weight:bold;">This report describes changes to the Fund that occurred during the reporting period. </div> <div style="margin-top:0pt;margin-bottom:0pt;margin-left:2%;font-size:11pt;font-family:arial;"><span style="color:#0071ce"><span style="font-weight:bold">What were the Fund costs for the last year? </span></span><span style="font-family:arial">(based on a hypothetical $10,000 investment)</span><span style="font-family:arial;color:#0071ce"><span style="font-weight:bold"> </span></span></div> <table cellpadding="0" cellspacing="0" style="border-collapse:collapse;font-family:arial;font-size:8pt;width:96%;border-spacing:0px;margin:0 auto"> <tr> <td style="width:33%;"></td> <td style="vertical-align:bottom;"></td> <td style="width:33%;"></td> <td style="vertical-align:bottom;"></td> <td style="width:32%;"></td> </tr> <tr style="font-size:1pt"> <td style="height:3pt;"></td> <td colspan="2" style="BORDER-LEFT:0.75pt solid #7fb8e6; BORDER-TOP:0.75pt solid #7fb8e6;height:3pt;"> </td> <td colspan="2" style="BORDER-LEFT:0.75pt solid #7fb8e6; BORDER-TOP:0.75pt solid #7fb8e6; BORDER-RIGHT:0.75pt solid #7fb8e6;height:3pt;"> </td> </tr> <tr style="page-break-inside:avoid;font-family:arial;font-size:8pt"> <td style="vertical-align:bottom;"> </td> <td style=" BORDER-LEFT:0.75pt solid #7fb8e6;vertical-align:bottom;"> </td> <td style="padding-bottom:3pt ;vertical-align:middle;text-align:right;"><span style="font-weight:bold">Cost of a $10,000 investment </span></td> <td style=" BORDER-LEFT:0.75pt solid #7fb8e6;vertical-align:bottom;"> </td> <td style="padding-bottom:3pt ;BORDER-RIGHT:0.75pt solid #7fb8e6; padding-right:2pt;vertical-align:bottom;text-align:right;"><span style="font-weight:bold">Costs paid as a percentage of<br/> $10,000 investment*</span></td> </tr> <tr style="font-size:1pt"> <td style="BORDER-LEFT:0.75pt solid #7fb8e6; BORDER-TOP:0.75pt solid #7fb8e6; padding-left:8pt;height:3pt;"> </td> <td colspan="2" style="BORDER-LEFT:0.75pt solid #7fb8e6; BORDER-TOP:0.75pt solid #7fb8e6;height:3pt;"> </td> <td colspan="2" style="BORDER-LEFT:0.75pt solid #7fb8e6; BORDER-TOP:0.75pt solid #7fb8e6; BORDER-RIGHT:0.75pt solid #7fb8e6;height:3pt;"> </td> </tr> <tr style="page-break-inside:avoid;font-family:arial;font-size:8pt"> <td style="padding-bottom:3pt ;BORDER-LEFT:0.75pt solid #7fb8e6; BORDER-BOTTOM:0.75pt solid #7fb8e6; padding-left:8pt;vertical-align:top;"> <div style="margin-top:0pt;margin-bottom:0pt;margin-left:1.00em;text-indent:-1.00em;font-size:8pt;font-family:arial;">Class A Shares</div></td> <td style=" BORDER-LEFT:0.75pt solid #7fb8e6; BORDER-BOTTOM:0.75pt solid #7fb8e6;vertical-align:bottom;"> </td> <td style="padding-bottom:3pt ;BORDER-BOTTOM:0.75pt solid #7fb8e6;vertical-align:bottom;white-space:nowrap;text-align:right;">$120 </td> <td style=" BORDER-LEFT:0.75pt solid #7fb8e6; BORDER-BOTTOM:0.75pt solid #7fb8e6;vertical-align:bottom;"> </td> <td style="padding-bottom:3pt ;BORDER-RIGHT:0.75pt solid #7fb8e6; BORDER-BOTTOM:0.75pt solid #7fb8e6; padding-right:2pt;vertical-align:bottom;white-space:nowrap;text-align:right;">1.16%</td> </tr> </table> <table cellpadding="0" cellspacing="0" style="border-collapse:collapse;font-family:arial;font-size:8pt;border-spacing:0px;width:100%"> <tr style="page-break-inside:avoid"> <td style="width:3%;"> </td> <td style="width:1%;vertical-align:top;text-align:right;">*</td> <td style="width:1%;vertical-align:top;"> </td> <td style="vertical-align:top;text-align:left;"> <div style="margin-top:0pt;margin-bottom:0pt;font-family:arial;font-size:8pt;text-align:justify;">Annualized for period less than one year. </div></td> <td style="width:2%;"> </td> </tr></table> 120 0.0116 <div style="margin-top:0pt;margin-bottom:0pt;margin-left:2%;font-size:11pt;font-family:arial;"><span style="color:#0071ce"><span style="font-weight:bold">How did the Fund perform last year? What affected the Fund’s performance? </span></span></div> <table cellpadding="0" cellspacing="0" style="border-collapse:collapse;font-family:arial;font-size:9pt;width:96%;border-spacing:0px;margin:0 auto"> <tr> <td style="width:100%;"></td> </tr> <tr style="page-break-inside:avoid;font-family:arial;font-size:9pt"> <td style="vertical-align:top;"> <div style="margin-top:0pt;margin-bottom:0pt;font-size:9pt;font-family:arial;font-weight:bold;">Performance Highlights</div> <div style="font-size:6pt;margin-top:0pt;margin-bottom:0pt;"> </div> <div style="margin-top:0pt;margin-bottom:0pt;margin-right:1.11em;font-size:9pt;font-family:arial;">The Nuveen Kentucky Municipal Bond Fund returned 7.29% for Class A Shares at net asset value (NAV) for the 12 months ended May 31, 2026. The Fund outperformed the S&amp;P Municipal Bond Kentucky Index, which returned 6.71%.</div> <div style="font-size:6pt;margin-top:0pt;margin-bottom:0pt;"> </div> <div style="margin-top:0pt;margin-bottom:0pt;margin-right:1.11em;font-size:9pt;font-family:arial;">Top contributors to relative performance</div> <div style="font-size:6pt;margin-top:0pt;margin-bottom:0pt;"> </div> <div style="margin-top:0pt;margin-bottom:0pt;margin-right:1.67em;display:table-row;"> <div style="display:table-cell;"> <div style="margin-top:0pt;margin-bottom:0pt;margin-left:2.222222em;font-family:arial;">•</div></div> <div style="display:table-cell;"> <div style="margin-top:0pt;margin-bottom:0pt;margin-left:0.538889em;font-family:arial;">Duration positioning, especially an overweight to longer-duration bonds and an underweight to bonds with durations between two and six years.</div></div></div> <div style="font-size:6pt;margin-top:0pt;margin-bottom:0pt;"> </div> <div style="margin-top:0pt;margin-bottom:0pt;margin-right:1.67em;display:table-row;"> <div style="display:table-cell;"> <div style="margin-top:0pt;margin-bottom:0pt;margin-left:2.222222em;font-family:arial;">•</div></div> <div style="display:table-cell;"> <div style="margin-top:0pt;margin-bottom:0pt;margin-left:0.538889em;font-family:arial;">Credit quality positioning, especially an overweight to non-rated bonds.</div></div></div> <div style="font-size:6pt;margin-top:0pt;margin-bottom:0pt;"> </div> <div style="margin-top:0pt;margin-bottom:0pt;margin-right:1.67em;display:table-row;"> <div style="display:table-cell;"> <div style="margin-top:0pt;margin-bottom:0pt;margin-left:2.222222em;font-family:arial;">•</div></div> <div style="display:table-cell;"> <div style="margin-top:0pt;margin-bottom:0pt;margin-left:0.538889em;font-family:arial;">An underweight to the industrial revenue development bond sector.</div></div></div> <div style="font-size:6pt;margin-top:0pt;margin-bottom:0pt;"> </div> <div style="margin-top:0pt;margin-bottom:0pt;margin-right:1.11em;font-size:9pt;font-family:arial;">Top detractors from relative performance</div> <div style="font-size:6pt;margin-top:0pt;margin-bottom:0pt;"> </div> <div style="margin-top:0pt;margin-bottom:0pt;margin-right:1.67em;display:table-row;"> <div style="display:table-cell;"> <div style="margin-top:0pt;margin-bottom:0pt;margin-left:2.222222em;font-family:arial;">•</div></div> <div style="display:table-cell;"> <div style="margin-top:0pt;margin-bottom:0pt;margin-left:0.538889em;font-family:arial;">Sector positioning, especially an overweight to health care bonds.</div></div></div></td> </tr> </table> Performance data shown represents past performance and does not predict or guarantee future results. The<span style="font-weight:bold"> </span>graph and table do not reflect the deduction of taxes that a shareholder would pay on Fund distributions or redemption of Fund Shares. <div style="margin-top:0pt;margin-bottom:0pt;margin-left:2%;margin-right:2%;"> <img alt="LOGO" src="g133061g99a11.jpg"/> </div> <div style="margin-top:0pt;margin-bottom:0pt;margin-left:2%;margin-right:2%;font-size:9pt;font-family:arial;font-weight:bold;">Average Annual Total Returns </div> <table cellpadding="0" cellspacing="0" style="border-collapse:collapse;font-family:arial;font-size:8pt;width:96%;border-spacing:0px;margin:0 auto"> <tr> <td style="width:64%;"></td> <td style="vertical-align:bottom;width:6%;"></td> <td></td> <td></td> <td style="vertical-align:bottom;width:3%;"></td> <td style="vertical-align:bottom;width:6%;"></td> <td></td> <td></td> <td style="vertical-align:bottom;width:3%;"></td> <td style="vertical-align:bottom;width:6%;"></td> <td></td> <td></td> <td style="vertical-align:bottom;width:3%;"></td> </tr> <tr style="font-size:1pt"> <td style="height:3pt;"></td> <td colspan="4" style="BORDER-LEFT:0.75pt solid #7fb8e6; BORDER-TOP:0.75pt solid #7fb8e6; BORDER-RIGHT:0.75pt solid #7fb8e6;height:3pt;"> </td> <td colspan="4" style="BORDER-TOP:0.75pt solid #7fb8e6;height:3pt;"> </td> <td colspan="4" style="BORDER-LEFT:0.75pt solid #7fb8e6; BORDER-TOP:0.75pt solid #7fb8e6; BORDER-RIGHT:0.75pt solid #7fb8e6;height:3pt;"> </td> </tr> <tr style="page-break-inside:avoid;font-family:arial;font-size:8pt"> <td style="vertical-align:top;"> </td> <td style=" BORDER-LEFT:0.75pt solid #7fb8e6;vertical-align:bottom;">    </td> <td colspan="2" style="padding-bottom:3pt ;vertical-align:bottom;white-space:nowrap;text-align:center;"><span style="font-weight:bold">1-Year</span></td> <td style=" BORDER-RIGHT:0.75pt solid #7fb8e6;vertical-align:bottom;"> </td> <td style="vertical-align:bottom;">    </td> <td colspan="2" style="padding-bottom:3pt ;vertical-align:bottom;white-space:nowrap;text-align:center;"><span style="font-weight:bold">5-Year</span></td> <td style="vertical-align:bottom;"> </td> <td style=" BORDER-LEFT:0.75pt solid #7fb8e6;vertical-align:bottom;">    </td> <td colspan="2" style="padding-bottom:3pt ;vertical-align:bottom;white-space:nowrap;text-align:center;"><span style="font-weight:bold">10-Year</span></td> <td style=" BORDER-RIGHT:0.75pt solid #7fb8e6; padding-right:2pt;vertical-align:bottom;"> </td> </tr> <tr style="font-size:1pt"> <td style="BORDER-LEFT:0.75pt solid #7fb8e6; BORDER-TOP:0.75pt solid #7fb8e6; padding-left:8pt;height:3pt;"> </td> <td colspan="4" style="BORDER-LEFT:0.75pt solid #7fb8e6; BORDER-TOP:0.75pt solid #7fb8e6; BORDER-RIGHT:0.75pt solid #7fb8e6;height:3pt;"> </td> <td colspan="4" style="BORDER-TOP:0.75pt solid #7fb8e6;height:3pt;"> </td> <td colspan="4" style="BORDER-LEFT:0.75pt solid #7fb8e6; BORDER-TOP:0.75pt solid #7fb8e6; BORDER-RIGHT:0.75pt solid #7fb8e6;height:3pt;"> </td> </tr> <tr style="page-break-inside:avoid;font-family:arial;font-size:8pt"> <td style="padding-bottom:3pt ;BORDER-LEFT:0.75pt solid #7fb8e6; padding-left:8pt;vertical-align:top;"> <div style="margin-top:0pt;margin-bottom:0pt;margin-left:1.00em;text-indent:-1.00em;font-size:8pt;font-family:arial;">Class A Shares at NAV (excluding maximum sales charge)</div></td> <td style=" BORDER-LEFT:0.75pt solid #7fb8e6;vertical-align:bottom;">    </td> <td style="padding-bottom:3pt ;white-space:nowrap;vertical-align:bottom;"> </td> <td style="padding-bottom:3pt ;white-space:nowrap;vertical-align:bottom;text-align:right;">7.29</td> <td style="padding-bottom:3pt ;BORDER-RIGHT:0.75pt solid #7fb8e6;white-space:nowrap;vertical-align:bottom;">% </td> <td style="vertical-align:bottom;">    </td> <td style="padding-bottom:3pt ;white-space:nowrap;vertical-align:bottom;"> </td> <td style="padding-bottom:3pt ;white-space:nowrap;vertical-align:bottom;text-align:right;">0.19</td> <td style="padding-bottom:3pt ;white-space:nowrap;vertical-align:bottom;">% </td> <td style=" BORDER-LEFT:0.75pt solid #7fb8e6;vertical-align:bottom;">    </td> <td style="padding-bottom:3pt ;white-space:nowrap;vertical-align:bottom;"> </td> <td style="padding-bottom:3pt ;white-space:nowrap;vertical-align:bottom;text-align:right;">1.63</td> <td style="padding-bottom:3pt ;BORDER-RIGHT:0.75pt solid #7fb8e6; padding-right:2pt;white-space:nowrap;vertical-align:bottom;">% </td> </tr> <tr style="font-size:1pt"> <td style="BORDER-LEFT:0.75pt solid #7fb8e6; BORDER-TOP:0.75pt solid #7fb8e6; padding-left:8pt;height:3pt;"> </td> <td colspan="4" style="BORDER-LEFT:0.75pt solid #7fb8e6; BORDER-TOP:0.75pt solid #7fb8e6; BORDER-RIGHT:0.75pt solid #7fb8e6;height:3pt;"> </td> <td colspan="4" style="BORDER-TOP:0.75pt solid #7fb8e6;height:3pt;"> </td> <td colspan="4" style="BORDER-LEFT:0.75pt solid #7fb8e6; BORDER-TOP:0.75pt solid #7fb8e6; BORDER-RIGHT:0.75pt solid #7fb8e6;height:3pt;"> </td> </tr> <tr style="page-break-inside:avoid;font-family:arial;font-size:8pt"> <td style="padding-bottom:3pt ;BORDER-LEFT:0.75pt solid #7fb8e6; padding-left:8pt;vertical-align:top;"> <div style="margin-top:0pt;margin-bottom:0pt;margin-left:1.00em;text-indent:-1.00em;font-size:8pt;font-family:arial;">Class A Shares at maximum sales charge (Offering Price)</div></td> <td style=" BORDER-LEFT:0.75pt solid #7fb8e6;vertical-align:bottom;">    </td> <td style="padding-bottom:3pt ;white-space:nowrap;vertical-align:bottom;"> </td> <td style="padding-bottom:3pt ;white-space:nowrap;vertical-align:bottom;text-align:right;">2.75</td> <td style="padding-bottom:3pt ;BORDER-RIGHT:0.75pt solid #7fb8e6;white-space:nowrap;vertical-align:bottom;">% </td> <td style="vertical-align:bottom;">    </td> <td style="padding-bottom:3pt ;white-space:nowrap;vertical-align:bottom;"> </td> <td style="padding-bottom:3pt ;white-space:nowrap;vertical-align:bottom;text-align:right;">(0.66</td> <td style="padding-bottom:3pt ;white-space:nowrap;vertical-align:bottom;">)% </td> <td style=" BORDER-LEFT:0.75pt solid #7fb8e6;vertical-align:bottom;">    </td> <td style="padding-bottom:3pt ;white-space:nowrap;vertical-align:bottom;"> </td> <td style="padding-bottom:3pt ;white-space:nowrap;vertical-align:bottom;text-align:right;">1.19</td> <td style="padding-bottom:3pt ;BORDER-RIGHT:0.75pt solid #7fb8e6; padding-right:2pt;white-space:nowrap;vertical-align:bottom;">% </td> </tr> <tr style="font-size:1pt"> <td style="BORDER-LEFT:0.75pt solid #7fb8e6; BORDER-TOP:0.75pt solid #7fb8e6; padding-left:8pt;height:3pt;"> </td> <td colspan="4" style="BORDER-LEFT:0.75pt solid #7fb8e6; BORDER-TOP:0.75pt solid #7fb8e6; BORDER-RIGHT:0.75pt solid #7fb8e6;height:3pt;"> </td> <td colspan="4" style="BORDER-TOP:0.75pt solid #7fb8e6;height:3pt;"> </td> <td colspan="4" style="BORDER-LEFT:0.75pt solid #7fb8e6; BORDER-TOP:0.75pt solid #7fb8e6; BORDER-RIGHT:0.75pt solid #7fb8e6;height:3pt;"> </td> </tr> <tr style="page-break-inside:avoid;font-family:arial;font-size:8pt"> <td style="padding-bottom:3pt ;BORDER-LEFT:0.75pt solid #7fb8e6; padding-left:8pt;vertical-align:top;"> <div style="margin-top:0pt;margin-bottom:0pt;margin-left:1.00em;text-indent:-1.00em;font-size:8pt;font-family:arial;">S&amp;P Municipal Bond Index</div></td> <td style=" BORDER-LEFT:0.75pt solid #7fb8e6;vertical-align:bottom;">    </td> <td style="padding-bottom:3pt ;white-space:nowrap;vertical-align:bottom;"> </td> <td style="padding-bottom:3pt ;white-space:nowrap;vertical-align:bottom;text-align:right;">6.57</td> <td style="padding-bottom:3pt ;BORDER-RIGHT:0.75pt solid #7fb8e6;white-space:nowrap;vertical-align:bottom;">% </td> <td style="vertical-align:bottom;">    </td> <td style="padding-bottom:3pt ;white-space:nowrap;vertical-align:bottom;"> </td> <td style="padding-bottom:3pt ;white-space:nowrap;vertical-align:bottom;text-align:right;">1.14</td> <td style="padding-bottom:3pt ;white-space:nowrap;vertical-align:bottom;">% </td> <td style=" BORDER-LEFT:0.75pt solid #7fb8e6;vertical-align:bottom;">    </td> <td style="padding-bottom:3pt ;white-space:nowrap;vertical-align:bottom;"> </td> <td style="padding-bottom:3pt ;white-space:nowrap;vertical-align:bottom;text-align:right;">2.30</td> <td style="padding-bottom:3pt ;BORDER-RIGHT:0.75pt solid #7fb8e6; padding-right:2pt;white-space:nowrap;vertical-align:bottom;">% </td> </tr> <tr style="font-size:1pt"> <td style="BORDER-LEFT:0.75pt solid #7fb8e6; BORDER-TOP:0.75pt solid #7fb8e6; padding-left:8pt;height:3pt;"> </td> <td colspan="4" style="BORDER-LEFT:0.75pt solid #7fb8e6; BORDER-TOP:0.75pt solid #7fb8e6; BORDER-RIGHT:0.75pt solid #7fb8e6;height:3pt;"> </td> <td colspan="4" style="BORDER-TOP:0.75pt solid #7fb8e6;height:3pt;"> </td> <td colspan="4" style="BORDER-LEFT:0.75pt solid #7fb8e6; BORDER-TOP:0.75pt solid #7fb8e6; BORDER-RIGHT:0.75pt solid #7fb8e6;height:3pt;"> </td> </tr> <tr style="page-break-inside:avoid;font-family:arial;font-size:8pt"> <td style="padding-bottom:3pt ;BORDER-LEFT:0.75pt solid #7fb8e6; padding-left:8pt;vertical-align:top;"> <div style="margin-top:0pt;margin-bottom:0pt;margin-left:1.00em;text-indent:-1.00em;font-size:8pt;font-family:arial;">S&amp;P Municipal Bond Kentucky Index</div></td> <td style=" BORDER-LEFT:0.75pt solid #7fb8e6;vertical-align:bottom;">    </td> <td style="padding-bottom:3pt ;white-space:nowrap;vertical-align:bottom;"> </td> <td style="padding-bottom:3pt ;white-space:nowrap;vertical-align:bottom;text-align:right;">6.71</td> <td style="padding-bottom:3pt ;BORDER-RIGHT:0.75pt solid #7fb8e6;white-space:nowrap;vertical-align:bottom;">% </td> <td style="vertical-align:bottom;">    </td> <td style="padding-bottom:3pt ;white-space:nowrap;vertical-align:bottom;"> </td> <td style="padding-bottom:3pt ;white-space:nowrap;vertical-align:bottom;text-align:right;">1.50</td> <td style="padding-bottom:3pt ;white-space:nowrap;vertical-align:bottom;">% </td> <td style=" BORDER-LEFT:0.75pt solid #7fb8e6;vertical-align:bottom;">    </td> <td style="padding-bottom:3pt ;white-space:nowrap;vertical-align:bottom;"> </td> <td style="padding-bottom:3pt ;white-space:nowrap;vertical-align:bottom;text-align:right;">2.51</td> <td style="padding-bottom:3pt ;BORDER-RIGHT:0.75pt solid #7fb8e6; padding-right:2pt;white-space:nowrap;vertical-align:bottom;">% </td> </tr> <tr style="font-size:1pt"> <td style="BORDER-LEFT:0.75pt solid #7fb8e6; BORDER-TOP:0.75pt solid #7fb8e6; padding-left:8pt;height:3pt;"> </td> <td colspan="4" style="BORDER-LEFT:0.75pt solid #7fb8e6; BORDER-TOP:0.75pt solid #7fb8e6; BORDER-RIGHT:0.75pt solid #7fb8e6;height:3pt;"> </td> <td colspan="4" style="BORDER-TOP:0.75pt solid #7fb8e6;height:3pt;"> </td> <td colspan="4" style="BORDER-LEFT:0.75pt solid #7fb8e6; BORDER-TOP:0.75pt solid #7fb8e6; BORDER-RIGHT:0.75pt solid #7fb8e6;height:3pt;"> </td> </tr> <tr style="page-break-inside:avoid;font-family:arial;font-size:8pt"> <td style="padding-bottom:3pt ;BORDER-LEFT:0.75pt solid #7fb8e6; BORDER-BOTTOM:0.75pt solid #7fb8e6; padding-left:8pt;vertical-align:top;"> <div style="margin-top:0pt;margin-bottom:0pt;margin-left:1.00em;text-indent:-1.00em;font-size:8pt;font-family:arial;">Lipper Other States Municipal Debt Funds Classification Average</div></td> <td style=" BORDER-LEFT:0.75pt solid #7fb8e6; BORDER-BOTTOM:0.75pt solid #7fb8e6;vertical-align:bottom;">    </td> <td style="padding-bottom:3pt ;BORDER-BOTTOM:0.75pt solid #7fb8e6;white-space:nowrap;vertical-align:bottom;"> </td> <td style="padding-bottom:3pt ;BORDER-BOTTOM:0.75pt solid #7fb8e6;white-space:nowrap;vertical-align:bottom;text-align:right;">7.08</td> <td style="padding-bottom:3pt ;BORDER-RIGHT:0.75pt solid #7fb8e6; BORDER-BOTTOM:0.75pt solid #7fb8e6;white-space:nowrap;vertical-align:bottom;">% </td> <td style=" BORDER-BOTTOM:0.75pt solid #7fb8e6;vertical-align:bottom;">    </td> <td style="padding-bottom:3pt ;BORDER-BOTTOM:0.75pt solid #7fb8e6;white-space:nowrap;vertical-align:bottom;"> </td> <td style="padding-bottom:3pt ;BORDER-BOTTOM:0.75pt solid #7fb8e6;white-space:nowrap;vertical-align:bottom;text-align:right;">0.43</td> <td style="padding-bottom:3pt ;BORDER-BOTTOM:0.75pt solid #7fb8e6;white-space:nowrap;vertical-align:bottom;">% </td> <td style=" BORDER-LEFT:0.75pt solid #7fb8e6; BORDER-BOTTOM:0.75pt solid #7fb8e6;vertical-align:bottom;">    </td> <td style="padding-bottom:3pt ;BORDER-BOTTOM:0.75pt solid #7fb8e6;white-space:nowrap;vertical-align:bottom;"> </td> <td style="padding-bottom:3pt ;BORDER-BOTTOM:0.75pt solid #7fb8e6;white-space:nowrap;vertical-align:bottom;text-align:right;">1.54</td> <td style="padding-bottom:3pt ;BORDER-RIGHT:0.75pt solid #7fb8e6; BORDER-BOTTOM:0.75pt solid #7fb8e6; padding-right:2pt;white-space:nowrap;vertical-align:bottom;">% </td> </tr> </table> Class A Shares at NAV (excluding maximum sales charge) 0.0729 0.0019 0.0163 Class A Shares at maximum sales charge (Offering Price) 0.0275 -0.0066 0.0119 S&P Municipal Bond Index 0.0657 0.0114 0.0230 S&P Municipal Bond Kentucky Index 0.0671 0.0150 0.0251 Lipper Other States Municipal Debt Funds Classification Average 0.0708 0.0043 0.0154 For most recent month-end performance, go to https://www.nuveen.com/en-us/mutual-funds/prospectuses or call (800) 257‑8787. <div style="margin-top:0pt;margin-bottom:0pt;margin-left:2%;font-size:11pt;font-family:arial;"><span style="color:#0071ce"><span style="font-weight:bold">Fund Statistics (as of May 31, 2026) </span></span></div> <table cellpadding="0" cellspacing="0" style="border-collapse:collapse;font-family:arial;font-size:8pt;width:96%;border-spacing:0px;margin:0 auto"> <tr> <td style="width:87%;"></td> <td style="vertical-align:bottom;width:2%;"></td> <td></td> <td></td> <td style="vertical-align:bottom;width:2%;"></td> </tr> <tr style="font-size:1pt"> <td style="height:3pt;"></td> <td colspan="4" style="height:3pt;"></td> </tr> <tr style="page-break-inside:avoid;font-family:arial;font-size:8pt"> <td style="padding-bottom:3pt ;BORDER-BOTTOM:0.75pt solid #7fb8e6;vertical-align:top;"> <div style="margin-top:0pt;margin-bottom:0pt;margin-left:1.00em;text-indent:-1.00em;font-size:8pt;font-family:arial;">Fund net assets</div></td> <td style=" BORDER-BOTTOM:0.75pt solid #7fb8e6;vertical-align:bottom;">  </td> <td style="padding-bottom:3pt ;BORDER-BOTTOM:0.75pt solid #7fb8e6;white-space:nowrap;vertical-align:bottom;">$</td> <td style="padding-bottom:3pt ;BORDER-BOTTOM:0.75pt solid #7fb8e6;white-space:nowrap;vertical-align:bottom;text-align:right;">220,120,918</td> <td style="padding-bottom:3pt ;BORDER-BOTTOM:0.75pt solid #7fb8e6;white-space:nowrap;vertical-align:bottom;"> </td> </tr> <tr style="font-size:1pt"> <td style="height:3pt;"></td> <td colspan="4" style="height:3pt;"></td> </tr> <tr style="page-break-inside:avoid;font-family:arial;font-size:8pt"> <td style="padding-bottom:3pt ;BORDER-BOTTOM:0.75pt solid #7fb8e6;vertical-align:top;"> <div style="margin-top:0pt;margin-bottom:0pt;margin-left:1.00em;text-indent:-1.00em;font-size:8pt;font-family:arial;">Total number of portfolio holdings</div></td> <td style=" BORDER-BOTTOM:0.75pt solid #7fb8e6;vertical-align:bottom;">  </td> <td style="padding-bottom:3pt ;BORDER-BOTTOM:0.75pt solid #7fb8e6;white-space:nowrap;vertical-align:bottom;"> </td> <td style="padding-bottom:3pt ;BORDER-BOTTOM:0.75pt solid #7fb8e6;white-space:nowrap;vertical-align:bottom;text-align:right;">98</td> <td style="padding-bottom:3pt ;BORDER-BOTTOM:0.75pt solid #7fb8e6;white-space:nowrap;vertical-align:bottom;"> </td> </tr> <tr style="font-size:1pt"> <td style="height:3pt;"></td> <td colspan="4" style="height:3pt;"></td> </tr> <tr style="page-break-inside:avoid;font-family:arial;font-size:8pt"> <td style="padding-bottom:3pt ;BORDER-BOTTOM:0.75pt solid #7fb8e6;vertical-align:top;"> <div style="margin-top:0pt;margin-bottom:0pt;margin-left:1.00em;text-indent:-1.00em;font-size:8pt;font-family:arial;">Portfolio turnover (%)</div></td> <td style=" BORDER-BOTTOM:0.75pt solid #7fb8e6;vertical-align:bottom;">  </td> <td style="padding-bottom:3pt ;BORDER-BOTTOM:0.75pt solid #7fb8e6;white-space:nowrap;vertical-align:bottom;"> </td> <td style="padding-bottom:3pt ;BORDER-BOTTOM:0.75pt solid #7fb8e6;white-space:nowrap;vertical-align:bottom;text-align:right;">13%</td> <td style="padding-bottom:3pt ;BORDER-BOTTOM:0.75pt solid #7fb8e6;white-space:nowrap;vertical-align:bottom;"> </td> </tr> <tr style="font-size:1pt"> <td style="height:3pt;"></td> <td colspan="4" style="height:3pt;"></td> </tr> <tr style="page-break-inside:avoid;font-family:arial;font-size:8pt"> <td style="padding-bottom:3pt ;BORDER-BOTTOM:0.75pt solid #7fb8e6;vertical-align:top;"> <div style="margin-top:0pt;margin-bottom:0pt;margin-left:1.00em;text-indent:-1.00em;font-size:8pt;font-family:arial;">Total management fees paid for the year</div></td> <td style=" BORDER-BOTTOM:0.75pt solid #7fb8e6;vertical-align:bottom;">  </td> <td style="padding-bottom:3pt ;BORDER-BOTTOM:0.75pt solid #7fb8e6;white-space:nowrap;vertical-align:bottom;">$</td> <td style="padding-bottom:3pt ;BORDER-BOTTOM:0.75pt solid #7fb8e6;white-space:nowrap;vertical-align:bottom;text-align:right;">1,072,584</td> <td style="padding-bottom:3pt ;BORDER-BOTTOM:0.75pt solid #7fb8e6;white-space:nowrap;vertical-align:bottom;"> </td> </tr> </table> 220120918 98 0.13 1072584 <table cellpadding="0" cellspacing="0" style="border-collapse:collapse;font-family:arial;font-size:9pt;width:100%;border-spacing:0px;margin:0 auto"> <tr> <td style="width:50%;"></td> <td style="vertical-align:bottom;width:1%;"></td> <td style="width:49%;"></td> </tr> <tr style="page-break-inside:avoid;font-family:arial;font-size:9pt"> <td style="vertical-align:top;"> <div style="margin-top:0pt;margin-bottom:0pt;margin-left:1.11em;margin-right:1.11em;"> <img alt="LOGO" src="g133061g22n67.jpg"/> </div></td> <td style="vertical-align:bottom;"> </td> <td style="vertical-align:top;"> <div style="margin-top:0pt;margin-bottom:0pt;margin-left:1.11em;margin-right:1.11em;"> <img alt="LOGO" src="g133061g29c59.jpg"/> </div></td> </tr> </table> <table cellpadding="0" cellspacing="0" style="border-collapse:collapse;font-family:arial;font-size:8pt;border-spacing:0px;width:100%"> <tr style="page-break-inside:avoid"> <td style="width:1%;"> </td> <td style="width:4%;vertical-align:top;text-align:left;">(1)</td> <td style="vertical-align:top;text-align:left;"> <div style="margin-top:0pt;margin-bottom:0pt;font-size:8pt;font-family:arial;text-align:left;">The ratings disclosed are the highest rating given by one of the following national rating agencies: Standard &amp; Poor’s (S&amp;P), Moody’s Investors Service, Inc. (Moody’s) or Fitch, Inc (Fitch). This treatment of split-rated securities may differ from that used for other purposes, such as for Fund investment policies. Credit ratings are subject to change. AAA, AA, A, and BBB are investment grade ratings; BB, B, CCC, CC, C and D are below-investment grade ratings. Holdings designated N/R are not rated by these national ratings agencies. </div></td> </tr></table> <table cellpadding="0" cellspacing="0" style="border-collapse:collapse;font-family:arial;font-size:8pt;border-spacing:0px;width:100%"> <tr style="page-break-inside:avoid"> <td style="width:1%;"> </td> <td style="width:4%;vertical-align:top;text-align:left;">(2)</td> <td style="vertical-align:top;text-align:left;"> <div style="margin-top:0pt;margin-bottom:0pt;font-size:8pt;font-family:arial;text-align:left;">Total investments include the Fund’s assets attributable to financial leverage. For these purposes, financial leverage includes the Fund’s investments in the residual interest certificates (also called inverse floating rate securities) in tender option bond (TOB) trusts, including the portion of assets held by a TOB trust that has been effectively financed by the trust’s issuance of floating rate securities. </div></td> </tr></table> The ratings disclosed are the highest rating given by one of the following national rating agencies: Standard &amp; Poor’s (S&amp;P), Moody’s Investors Service, Inc. (Moody’s) or Fitch, Inc (Fitch). This treatment of split-rated securities may differ from that used for other purposes, such as for Fund investment policies. Credit ratings are subject to change. AAA, AA, A, and BBB are investment grade ratings; BB, B, CCC, CC, C and D are below-investment grade ratings. Holdings designated N/R are not rated by these national ratings agencies. Total investments include the Fund’s assets attributable to financial leverage. For these purposes, financial leverage includes the Fund’s investments in the residual interest certificates (also called inverse floating rate securities) in tender option bond (TOB) trusts, including the portion of assets held by a TOB trust that has been effectively financed by the trust’s issuance of floating rate securities. <div style="margin-top:0pt;margin-bottom:0pt;margin-left:2%;font-size:11pt;font-family:arial;"><span style="color:#0071ce"><span style="font-weight:bold">How has the Fund changed? </span></span></div><div style="margin-top:6pt;margin-bottom:0pt;margin-left:2%;font-size:9pt;font-family:arial;font-weight:bold;">For more complete information, you may review the Fund’s next prospectus, which is expected to be available by September 30, 2026 at https://www.nuveen.com/en-us/mutual-funds/prospectuses or upon request at (800) 257-8787. </div> <div style="margin-top:6pt;margin-bottom:0pt;margin-left:2%;font-size:9pt;font-family:arial;font-weight:bold;">For more complete information, you may review the Fund’s next prospectus, which is expected to be available by September 30, 2026 at https://www.nuveen.com/en-us/mutual-funds/prospectuses or upon request at (800) 257-8787. </div> https://www.nuveen.com/en-us/mutual-funds/prospectuses (800) 257-8787 Nuveen Kentucky Municipal Bond Fund Class C Shares FKCCX This annual shareholder report contains important information about the Class C Shares of the Nuveen Kentucky Municipal Bond Fund for the period of June 1, 2025 to May 31, 2026. annual shareholder report You can find additional information at https://www.nuveen.com/en-us/mutual-funds/prospectuses. You can also request this information by contacting us at (800) 257-8787. https://www.nuveen.com/en-us/mutual-funds/prospectuses (800) 257-8787 <div style="margin-top:18pt;margin-bottom:0pt;margin-left:2%;margin-right:2%;font-size:9pt;font-family:arial;font-weight:bold;">This report describes changes to the Fund that occurred during the reporting period. </div> <div style="margin-top:0pt;margin-bottom:0pt;margin-left:2%;font-size:11pt;font-family:arial;"><span style="color:#0071ce"><span style="font-weight:bold">What were the Fund costs for the last year? </span></span><span style="font-family:arial">(based on a hypothetical $10,000 investment)</span><span style="font-family:arial;color:#0071ce"><span style="font-weight:bold"> </span></span></div> <table cellpadding="0" cellspacing="0" style="border-collapse:collapse;font-family:arial;font-size:8pt;width:96%;border-spacing:0px;margin:0 auto"> <tr> <td style="width:33%;"></td> <td style="vertical-align:bottom;"></td> <td style="width:33%;"></td> <td style="vertical-align:bottom;"></td> <td style="width:32%;"></td> </tr> <tr style="font-size:1pt"> <td style="height:3pt;"></td> <td colspan="2" style="BORDER-LEFT:0.75pt solid #7fb8e6; BORDER-TOP:0.75pt solid #7fb8e6;height:3pt;"> </td> <td colspan="2" style="BORDER-LEFT:0.75pt solid #7fb8e6; BORDER-TOP:0.75pt solid #7fb8e6; BORDER-RIGHT:0.75pt solid #7fb8e6;height:3pt;"> </td> </tr> <tr style="page-break-inside:avoid;font-family:arial;font-size:8pt"> <td style="vertical-align:bottom;"> </td> <td style=" BORDER-LEFT:0.75pt solid #7fb8e6;vertical-align:bottom;"> </td> <td style="padding-bottom:3pt ;vertical-align:middle;text-align:right;"><span style="font-weight:bold">Cost of a $10,000 investment </span></td> <td style=" BORDER-LEFT:0.75pt solid #7fb8e6;vertical-align:bottom;"> </td> <td style="padding-bottom:3pt ;BORDER-RIGHT:0.75pt solid #7fb8e6; padding-right:2pt;vertical-align:bottom;text-align:right;"><span style="font-weight:bold">Costs paid as a percentage of<br/> $10,000 investment*</span></td> </tr> <tr style="font-size:1pt"> <td style="BORDER-LEFT:0.75pt solid #7fb8e6; BORDER-TOP:0.75pt solid #7fb8e6; padding-left:8pt;height:3pt;"> </td> <td colspan="2" style="BORDER-LEFT:0.75pt solid #7fb8e6; BORDER-TOP:0.75pt solid #7fb8e6;height:3pt;"> </td> <td colspan="2" style="BORDER-LEFT:0.75pt solid #7fb8e6; BORDER-TOP:0.75pt solid #7fb8e6; BORDER-RIGHT:0.75pt solid #7fb8e6;height:3pt;"> </td> </tr> <tr style="page-break-inside:avoid;font-family:arial;font-size:8pt"> <td style="padding-bottom:3pt ;BORDER-LEFT:0.75pt solid #7fb8e6; BORDER-BOTTOM:0.75pt solid #7fb8e6; padding-left:8pt;vertical-align:top;"> <div style="margin-top:0pt;margin-bottom:0pt;margin-left:1.00em;text-indent:-1.00em;font-size:8pt;font-family:arial;">Class C Shares</div></td> <td style=" BORDER-LEFT:0.75pt solid #7fb8e6; BORDER-BOTTOM:0.75pt solid #7fb8e6;vertical-align:bottom;"> </td> <td style="padding-bottom:3pt ;BORDER-BOTTOM:0.75pt solid #7fb8e6;vertical-align:bottom;white-space:nowrap;text-align:right;">$202 </td> <td style=" BORDER-LEFT:0.75pt solid #7fb8e6; BORDER-BOTTOM:0.75pt solid #7fb8e6;vertical-align:bottom;"> </td> <td style="padding-bottom:3pt ;BORDER-RIGHT:0.75pt solid #7fb8e6; BORDER-BOTTOM:0.75pt solid #7fb8e6; padding-right:2pt;vertical-align:bottom;white-space:nowrap;text-align:right;">1.96%</td> </tr> </table> <table cellpadding="0" cellspacing="0" style="border-collapse:collapse;font-family:arial;font-size:8pt;border-spacing:0px;width:100%"> <tr style="page-break-inside:avoid"> <td style="width:3%;"> </td> <td style="width:1%;vertical-align:top;text-align:right;">*</td> <td style="width:1%;vertical-align:top;"> </td> <td style="vertical-align:top;text-align:left;"> <div style="margin-top:0pt;margin-bottom:0pt;font-family:arial;font-size:8pt;text-align:justify;">Annualized for period less than one year. </div></td> <td style="width:2%;"> </td> </tr></table> 202 0.0196 <div style="margin-top:0pt;margin-bottom:0pt;margin-left:2%;font-size:11pt;font-family:arial;"><span style="color:#0071ce"><span style="font-weight:bold">How did the Fund perform last year? What affected the Fund’s performance? </span></span></div> <table cellpadding="0" cellspacing="0" style="border-collapse:collapse;font-family:arial;font-size:9pt;width:96%;border-spacing:0px;margin:0 auto"> <tr> <td style="width:100%;"></td> </tr> <tr style="page-break-inside:avoid;font-family:arial;font-size:9pt"> <td style="vertical-align:top;"> <div style="margin-top:0pt;margin-bottom:0pt;font-size:9pt;font-family:arial;font-weight:bold;">Performance Highlights</div> <div style="font-size:6pt;margin-top:0pt;margin-bottom:0pt;"> </div> <div style="margin-top:0pt;margin-bottom:0pt;margin-right:1.11em;font-size:9pt;font-family:arial;">The Nuveen Kentucky Municipal Bond Fund returned 6.44% for Class C Shares at net asset value (NAV) for the 12 months ended May 31, 2026. The Fund underperformed the S&amp;P Municipal Bond Kentucky Index, which returned 6.71%.</div> <div style="font-size:6pt;margin-top:0pt;margin-bottom:0pt;"> </div> <div style="margin-top:0pt;margin-bottom:0pt;margin-right:1.11em;font-size:9pt;font-family:arial;">Top contributors to relative performance</div> <div style="font-size:6pt;margin-top:0pt;margin-bottom:0pt;"> </div> <div style="margin-top:0pt;margin-bottom:0pt;margin-right:1.67em;display:table-row;"> <div style="display:table-cell;"> <div style="margin-top:0pt;margin-bottom:0pt;margin-left:2.222222em;font-family:arial;">•</div></div> <div style="display:table-cell;"> <div style="margin-top:0pt;margin-bottom:0pt;margin-left:0.538889em;font-family:arial;">Duration positioning, especially an overweight to longer-duration bonds and an underweight to bonds with durations between two and six years.</div></div></div> <div style="font-size:6pt;margin-top:0pt;margin-bottom:0pt;"> </div> <div style="margin-top:0pt;margin-bottom:0pt;margin-right:1.67em;display:table-row;"> <div style="display:table-cell;"> <div style="margin-top:0pt;margin-bottom:0pt;margin-left:2.222222em;font-family:arial;">•</div></div> <div style="display:table-cell;"> <div style="margin-top:0pt;margin-bottom:0pt;margin-left:0.538889em;font-family:arial;">Credit quality positioning, especially an overweight to non-rated bonds.</div></div></div> <div style="font-size:6pt;margin-top:0pt;margin-bottom:0pt;"> </div> <div style="margin-top:0pt;margin-bottom:0pt;margin-right:1.67em;display:table-row;"> <div style="display:table-cell;"> <div style="margin-top:0pt;margin-bottom:0pt;margin-left:2.222222em;font-family:arial;">•</div></div> <div style="display:table-cell;"> <div style="margin-top:0pt;margin-bottom:0pt;margin-left:0.538889em;font-family:arial;">An underweight to the industrial revenue development bond sector.</div></div></div> <div style="font-size:6pt;margin-top:0pt;margin-bottom:0pt;"> </div> <div style="margin-top:0pt;margin-bottom:0pt;margin-right:1.11em;font-size:9pt;font-family:arial;">Top detractors from relative performance</div> <div style="font-size:6pt;margin-top:0pt;margin-bottom:0pt;"> </div> <div style="margin-top:0pt;margin-bottom:0pt;margin-right:1.67em;display:table-row;"> <div style="display:table-cell;"> <div style="margin-top:0pt;margin-bottom:0pt;margin-left:2.222222em;font-family:arial;">•</div></div> <div style="display:table-cell;"> <div style="margin-top:0pt;margin-bottom:0pt;margin-left:0.538889em;font-family:arial;">Sector positioning, especially an overweight to health care bonds.</div></div></div></td> </tr> </table> Performance data shown represents past performance and does not predict or guarantee future results. The<span style="font-weight:bold"> </span>graph and table do not reflect the deduction of taxes that a shareholder would pay on Fund distributions or redemption of Fund Shares. <div style="margin-top:0pt;margin-bottom:0pt;margin-left:2%;margin-right:2%;"> <img alt="LOGO" src="g133061g99a14.jpg"/> </div> <div style="margin-top:0pt;margin-bottom:0pt;margin-left:2%;margin-right:2%;font-size:9pt;font-family:arial;font-weight:bold;">Average Annual Total Returns </div> <table cellpadding="0" cellspacing="0" style="border-collapse:collapse;font-family:arial;font-size:8pt;width:96%;border-spacing:0px;margin:0 auto"> <tr> <td style="width:64%;"></td> <td style="vertical-align:bottom;width:6%;"></td> <td></td> <td></td> <td style="vertical-align:bottom;width:3%;"></td> <td style="vertical-align:bottom;width:6%;"></td> <td></td> <td></td> <td style="vertical-align:bottom;width:3%;"></td> <td style="vertical-align:bottom;width:6%;"></td> <td></td> <td></td> <td style="vertical-align:bottom;width:3%;"></td> </tr> <tr style="font-size:1pt"> <td style="height:3pt;"></td> <td colspan="4" style="BORDER-LEFT:0.75pt solid #7fb8e6; BORDER-TOP:0.75pt solid #7fb8e6; BORDER-RIGHT:0.75pt solid #7fb8e6;height:3pt;"> </td> <td colspan="4" style="BORDER-TOP:0.75pt solid #7fb8e6;height:3pt;"> </td> <td colspan="4" style="BORDER-LEFT:0.75pt solid #7fb8e6; BORDER-TOP:0.75pt solid #7fb8e6; BORDER-RIGHT:0.75pt solid #7fb8e6;height:3pt;"> </td> </tr> <tr style="page-break-inside:avoid;font-family:arial;font-size:8pt"> <td style="vertical-align:top;"> </td> <td style=" BORDER-LEFT:0.75pt solid #7fb8e6;vertical-align:bottom;">    </td> <td colspan="2" style="padding-bottom:3pt ;vertical-align:bottom;white-space:nowrap;text-align:center;"><span style="font-weight:bold">1-Year</span></td> <td style=" BORDER-RIGHT:0.75pt solid #7fb8e6;vertical-align:bottom;"> </td> <td style="vertical-align:bottom;">    </td> <td colspan="2" style="padding-bottom:3pt ;vertical-align:bottom;white-space:nowrap;text-align:center;"><span style="font-weight:bold">5-Year</span></td> <td style="vertical-align:bottom;"> </td> <td style=" BORDER-LEFT:0.75pt solid #7fb8e6;vertical-align:bottom;">    </td> <td colspan="2" style="padding-bottom:3pt ;vertical-align:bottom;white-space:nowrap;text-align:center;"><span style="font-weight:bold">10-Year</span></td> <td style=" BORDER-RIGHT:0.75pt solid #7fb8e6; padding-right:2pt;vertical-align:bottom;"> </td> </tr> <tr style="font-size:1pt"> <td style="BORDER-LEFT:0.75pt solid #7fb8e6; BORDER-TOP:0.75pt solid #7fb8e6; padding-left:8pt;height:3pt;"> </td> <td colspan="4" style="BORDER-LEFT:0.75pt solid #7fb8e6; BORDER-TOP:0.75pt solid #7fb8e6; BORDER-RIGHT:0.75pt solid #7fb8e6;height:3pt;"> </td> <td colspan="4" style="BORDER-TOP:0.75pt solid #7fb8e6;height:3pt;"> </td> <td colspan="4" style="BORDER-LEFT:0.75pt solid #7fb8e6; BORDER-TOP:0.75pt solid #7fb8e6; BORDER-RIGHT:0.75pt solid #7fb8e6;height:3pt;"> </td> </tr> <tr style="page-break-inside:avoid;font-family:arial;font-size:8pt"> <td style="padding-bottom:3pt ;BORDER-LEFT:0.75pt solid #7fb8e6; padding-left:8pt;vertical-align:top;"> <div style="margin-top:0pt;margin-bottom:0pt;margin-left:1.00em;text-indent:-1.00em;font-size:8pt;font-family:arial;">Class C Shares at NAV (excluding maximum sales charge)</div></td> <td style=" BORDER-LEFT:0.75pt solid #7fb8e6;vertical-align:bottom;">    </td> <td style="padding-bottom:3pt ;white-space:nowrap;vertical-align:bottom;"> </td> <td style="padding-bottom:3pt ;white-space:nowrap;vertical-align:bottom;text-align:right;">6.44</td> <td style="padding-bottom:3pt ;BORDER-RIGHT:0.75pt solid #7fb8e6;white-space:nowrap;vertical-align:bottom;">% </td> <td style="vertical-align:bottom;">    </td> <td style="padding-bottom:3pt ;white-space:nowrap;vertical-align:bottom;"> </td> <td style="padding-bottom:3pt ;white-space:nowrap;vertical-align:bottom;text-align:right;">(0.61</td> <td style="padding-bottom:3pt ;white-space:nowrap;vertical-align:bottom;">)% </td> <td style=" BORDER-LEFT:0.75pt solid #7fb8e6;vertical-align:bottom;">    </td> <td style="padding-bottom:3pt ;white-space:nowrap;vertical-align:bottom;"> </td> <td style="padding-bottom:3pt ;white-space:nowrap;vertical-align:bottom;text-align:right;">0.98</td> <td style="padding-bottom:3pt ;BORDER-RIGHT:0.75pt solid #7fb8e6; padding-right:2pt;white-space:nowrap;vertical-align:bottom;">% </td> </tr> <tr style="font-size:1pt"> <td style="BORDER-LEFT:0.75pt solid #7fb8e6; BORDER-TOP:0.75pt solid #7fb8e6; padding-left:8pt;height:3pt;"> </td> <td colspan="4" style="BORDER-LEFT:0.75pt solid #7fb8e6; BORDER-TOP:0.75pt solid #7fb8e6; BORDER-RIGHT:0.75pt solid #7fb8e6;height:3pt;"> </td> <td colspan="4" style="BORDER-TOP:0.75pt solid #7fb8e6;height:3pt;"> </td> <td colspan="4" style="BORDER-LEFT:0.75pt solid #7fb8e6; BORDER-TOP:0.75pt solid #7fb8e6; BORDER-RIGHT:0.75pt solid #7fb8e6;height:3pt;"> </td> </tr> <tr style="page-break-inside:avoid;font-family:arial;font-size:8pt"> <td style="padding-bottom:3pt ;BORDER-LEFT:0.75pt solid #7fb8e6; padding-left:8pt;vertical-align:top;"> <div style="margin-top:0pt;margin-bottom:0pt;margin-left:1.00em;text-indent:-1.00em;font-size:8pt;font-family:arial;">S&amp;P Municipal Bond Index</div></td> <td style=" BORDER-LEFT:0.75pt solid #7fb8e6;vertical-align:bottom;">    </td> <td style="padding-bottom:3pt ;white-space:nowrap;vertical-align:bottom;"> </td> <td style="padding-bottom:3pt ;white-space:nowrap;vertical-align:bottom;text-align:right;">6.57</td> <td style="padding-bottom:3pt ;BORDER-RIGHT:0.75pt solid #7fb8e6;white-space:nowrap;vertical-align:bottom;">% </td> <td style="vertical-align:bottom;">    </td> <td style="padding-bottom:3pt ;white-space:nowrap;vertical-align:bottom;"> </td> <td style="padding-bottom:3pt ;white-space:nowrap;vertical-align:bottom;text-align:right;">1.14</td> <td style="padding-bottom:3pt ;white-space:nowrap;vertical-align:bottom;">% </td> <td style=" BORDER-LEFT:0.75pt solid #7fb8e6;vertical-align:bottom;">    </td> <td style="padding-bottom:3pt ;white-space:nowrap;vertical-align:bottom;"> </td> <td style="padding-bottom:3pt ;white-space:nowrap;vertical-align:bottom;text-align:right;">2.30</td> <td style="padding-bottom:3pt ;BORDER-RIGHT:0.75pt solid #7fb8e6; padding-right:2pt;white-space:nowrap;vertical-align:bottom;">% </td> </tr> <tr style="font-size:1pt"> <td style="BORDER-LEFT:0.75pt solid #7fb8e6; BORDER-TOP:0.75pt solid #7fb8e6; padding-left:8pt;height:3pt;"> </td> <td colspan="4" style="BORDER-LEFT:0.75pt solid #7fb8e6; BORDER-TOP:0.75pt solid #7fb8e6; BORDER-RIGHT:0.75pt solid #7fb8e6;height:3pt;"> </td> <td colspan="4" style="BORDER-TOP:0.75pt solid #7fb8e6;height:3pt;"> </td> <td colspan="4" style="BORDER-LEFT:0.75pt solid #7fb8e6; BORDER-TOP:0.75pt solid #7fb8e6; BORDER-RIGHT:0.75pt solid #7fb8e6;height:3pt;"> </td> </tr> <tr style="page-break-inside:avoid;font-family:arial;font-size:8pt"> <td style="padding-bottom:3pt ;BORDER-LEFT:0.75pt solid #7fb8e6; padding-left:8pt;vertical-align:top;"> <div style="margin-top:0pt;margin-bottom:0pt;margin-left:1.00em;text-indent:-1.00em;font-size:8pt;font-family:arial;">S&amp;P Municipal Bond Kentucky Index</div></td> <td style=" BORDER-LEFT:0.75pt solid #7fb8e6;vertical-align:bottom;">    </td> <td style="padding-bottom:3pt ;white-space:nowrap;vertical-align:bottom;"> </td> <td style="padding-bottom:3pt ;white-space:nowrap;vertical-align:bottom;text-align:right;">6.71</td> <td style="padding-bottom:3pt ;BORDER-RIGHT:0.75pt solid #7fb8e6;white-space:nowrap;vertical-align:bottom;">% </td> <td style="vertical-align:bottom;">    </td> <td style="padding-bottom:3pt ;white-space:nowrap;vertical-align:bottom;"> </td> <td style="padding-bottom:3pt ;white-space:nowrap;vertical-align:bottom;text-align:right;">1.50</td> <td style="padding-bottom:3pt ;white-space:nowrap;vertical-align:bottom;">% </td> <td style=" BORDER-LEFT:0.75pt solid #7fb8e6;vertical-align:bottom;">    </td> <td style="padding-bottom:3pt ;white-space:nowrap;vertical-align:bottom;"> </td> <td style="padding-bottom:3pt ;white-space:nowrap;vertical-align:bottom;text-align:right;">2.51</td> <td style="padding-bottom:3pt ;BORDER-RIGHT:0.75pt solid #7fb8e6; padding-right:2pt;white-space:nowrap;vertical-align:bottom;">% </td> </tr> <tr style="font-size:1pt"> <td style="BORDER-LEFT:0.75pt solid #7fb8e6; BORDER-TOP:0.75pt solid #7fb8e6; padding-left:8pt;height:3pt;"> </td> <td colspan="4" style="BORDER-LEFT:0.75pt solid #7fb8e6; BORDER-TOP:0.75pt solid #7fb8e6; BORDER-RIGHT:0.75pt solid #7fb8e6;height:3pt;"> </td> <td colspan="4" style="BORDER-TOP:0.75pt solid #7fb8e6;height:3pt;"> </td> <td colspan="4" style="BORDER-LEFT:0.75pt solid #7fb8e6; BORDER-TOP:0.75pt solid #7fb8e6; BORDER-RIGHT:0.75pt solid #7fb8e6;height:3pt;"> </td> </tr> <tr style="page-break-inside:avoid;font-family:arial;font-size:8pt"> <td style="padding-bottom:3pt ;BORDER-LEFT:0.75pt solid #7fb8e6; BORDER-BOTTOM:0.75pt solid #7fb8e6; padding-left:8pt;vertical-align:top;"> <div style="margin-top:0pt;margin-bottom:0pt;margin-left:1.00em;text-indent:-1.00em;font-size:8pt;font-family:arial;">Lipper Other States Municipal Debt Funds Classification Average</div></td> <td style=" BORDER-LEFT:0.75pt solid #7fb8e6; BORDER-BOTTOM:0.75pt solid #7fb8e6;vertical-align:bottom;">    </td> <td style="padding-bottom:3pt ;BORDER-BOTTOM:0.75pt solid #7fb8e6;white-space:nowrap;vertical-align:bottom;"> </td> <td style="padding-bottom:3pt ;BORDER-BOTTOM:0.75pt solid #7fb8e6;white-space:nowrap;vertical-align:bottom;text-align:right;">7.08</td> <td style="padding-bottom:3pt ;BORDER-RIGHT:0.75pt solid #7fb8e6; BORDER-BOTTOM:0.75pt solid #7fb8e6;white-space:nowrap;vertical-align:bottom;">% </td> <td style=" BORDER-BOTTOM:0.75pt solid #7fb8e6;vertical-align:bottom;">    </td> <td style="padding-bottom:3pt ;BORDER-BOTTOM:0.75pt solid #7fb8e6;white-space:nowrap;vertical-align:bottom;"> </td> <td style="padding-bottom:3pt ;BORDER-BOTTOM:0.75pt solid #7fb8e6;white-space:nowrap;vertical-align:bottom;text-align:right;">0.43</td> <td style="padding-bottom:3pt ;BORDER-BOTTOM:0.75pt solid #7fb8e6;white-space:nowrap;vertical-align:bottom;">% </td> <td style=" BORDER-LEFT:0.75pt solid #7fb8e6; BORDER-BOTTOM:0.75pt solid #7fb8e6;vertical-align:bottom;">    </td> <td style="padding-bottom:3pt ;BORDER-BOTTOM:0.75pt solid #7fb8e6;white-space:nowrap;vertical-align:bottom;"> </td> <td style="padding-bottom:3pt ;BORDER-BOTTOM:0.75pt solid #7fb8e6;white-space:nowrap;vertical-align:bottom;text-align:right;">1.54</td> <td style="padding-bottom:3pt ;BORDER-RIGHT:0.75pt solid #7fb8e6; BORDER-BOTTOM:0.75pt solid #7fb8e6; padding-right:2pt;white-space:nowrap;vertical-align:bottom;">% </td> </tr> </table> Class C Shares at NAV (excluding maximum sales charge) 0.0644 -0.0061 0.0098 S&P Municipal Bond Index 0.0657 0.0114 0.0230 S&P Municipal Bond Kentucky Index 0.0671 0.0150 0.0251 Lipper Other States Municipal Debt Funds Classification Average 0.0708 0.0043 0.0154 For most recent month-end performance, go to https://www.nuveen.com/en-us/mutual-funds/prospectuses or call (800) 257‑8787. <div style="margin-top:0pt;margin-bottom:0pt;margin-left:2%;font-size:11pt;font-family:arial;"><span style="color:#0071ce"><span style="font-weight:bold">Fund Statistics (as of May 31, 2026) </span></span></div> <table cellpadding="0" cellspacing="0" style="border-collapse:collapse;font-family:arial;font-size:8pt;width:96%;border-spacing:0px;margin:0 auto"> <tr> <td style="width:87%;"></td> <td style="vertical-align:bottom;width:2%;"></td> <td></td> <td></td> <td style="vertical-align:bottom;width:2%;"></td> </tr> <tr style="font-size:1pt"> <td style="height:3pt;"></td> <td colspan="4" style="height:3pt;"></td> </tr> <tr style="page-break-inside:avoid;font-family:arial;font-size:8pt"> <td style="padding-bottom:3pt ;BORDER-BOTTOM:0.75pt solid #7fb8e6;vertical-align:top;"> <div style="margin-top:0pt;margin-bottom:0pt;margin-left:1.00em;text-indent:-1.00em;font-size:8pt;font-family:arial;">Fund net assets</div></td> <td style=" BORDER-BOTTOM:0.75pt solid #7fb8e6;vertical-align:bottom;">  </td> <td style="padding-bottom:3pt ;BORDER-BOTTOM:0.75pt solid #7fb8e6;white-space:nowrap;vertical-align:bottom;">$</td> <td style="padding-bottom:3pt ;BORDER-BOTTOM:0.75pt solid #7fb8e6;white-space:nowrap;vertical-align:bottom;text-align:right;">220,120,918</td> <td style="padding-bottom:3pt ;BORDER-BOTTOM:0.75pt solid #7fb8e6;white-space:nowrap;vertical-align:bottom;"> </td> </tr> <tr style="font-size:1pt"> <td style="height:3pt;"></td> <td colspan="4" style="height:3pt;"></td> </tr> <tr style="page-break-inside:avoid;font-family:arial;font-size:8pt"> <td style="padding-bottom:3pt ;BORDER-BOTTOM:0.75pt solid #7fb8e6;vertical-align:top;"> <div style="margin-top:0pt;margin-bottom:0pt;margin-left:1.00em;text-indent:-1.00em;font-size:8pt;font-family:arial;">Total number of portfolio holdings</div></td> <td style=" BORDER-BOTTOM:0.75pt solid #7fb8e6;vertical-align:bottom;">  </td> <td style="padding-bottom:3pt ;BORDER-BOTTOM:0.75pt solid #7fb8e6;white-space:nowrap;vertical-align:bottom;"> </td> <td style="padding-bottom:3pt ;BORDER-BOTTOM:0.75pt solid #7fb8e6;white-space:nowrap;vertical-align:bottom;text-align:right;">98</td> <td style="padding-bottom:3pt ;BORDER-BOTTOM:0.75pt solid #7fb8e6;white-space:nowrap;vertical-align:bottom;"> </td> </tr> <tr style="font-size:1pt"> <td style="height:3pt;"></td> <td colspan="4" style="height:3pt;"></td> </tr> <tr style="page-break-inside:avoid;font-family:arial;font-size:8pt"> <td style="padding-bottom:3pt ;BORDER-BOTTOM:0.75pt solid #7fb8e6;vertical-align:top;"> <div style="margin-top:0pt;margin-bottom:0pt;margin-left:1.00em;text-indent:-1.00em;font-size:8pt;font-family:arial;">Portfolio turnover (%)</div></td> <td style=" BORDER-BOTTOM:0.75pt solid #7fb8e6;vertical-align:bottom;">  </td> <td style="padding-bottom:3pt ;BORDER-BOTTOM:0.75pt solid #7fb8e6;white-space:nowrap;vertical-align:bottom;"> </td> <td style="padding-bottom:3pt ;BORDER-BOTTOM:0.75pt solid #7fb8e6;white-space:nowrap;vertical-align:bottom;text-align:right;">13%</td> <td style="padding-bottom:3pt ;BORDER-BOTTOM:0.75pt solid #7fb8e6;white-space:nowrap;vertical-align:bottom;"> </td> </tr> <tr style="font-size:1pt"> <td style="height:3pt;"></td> <td colspan="4" style="height:3pt;"></td> </tr> <tr style="page-break-inside:avoid;font-family:arial;font-size:8pt"> <td style="padding-bottom:3pt ;BORDER-BOTTOM:0.75pt solid #7fb8e6;vertical-align:top;"> <div style="margin-top:0pt;margin-bottom:0pt;margin-left:1.00em;text-indent:-1.00em;font-size:8pt;font-family:arial;">Total management fees paid for the year</div></td> <td style=" BORDER-BOTTOM:0.75pt solid #7fb8e6;vertical-align:bottom;">  </td> <td style="padding-bottom:3pt ;BORDER-BOTTOM:0.75pt solid #7fb8e6;white-space:nowrap;vertical-align:bottom;">$</td> <td style="padding-bottom:3pt ;BORDER-BOTTOM:0.75pt solid #7fb8e6;white-space:nowrap;vertical-align:bottom;text-align:right;">1,072,584</td> <td style="padding-bottom:3pt ;BORDER-BOTTOM:0.75pt solid #7fb8e6;white-space:nowrap;vertical-align:bottom;"> </td> </tr> </table> 220120918 98 0.13 1072584 <table cellpadding="0" cellspacing="0" style="border-collapse:collapse;font-family:arial;font-size:9pt;width:100%;border-spacing:0px;margin:0 auto"> <tr> <td style="width:50%;"></td> <td style="vertical-align:bottom;width:1%;"></td> <td style="width:49%;"></td> </tr> <tr style="page-break-inside:avoid;font-family:arial;font-size:9pt"> <td style="vertical-align:top;"> <div style="margin-top:0pt;margin-bottom:0pt;margin-left:1.11em;margin-right:1.11em;"> <img alt="LOGO" src="g133061g52c57.jpg"/> </div></td> <td style="vertical-align:bottom;"> </td> <td style="vertical-align:top;"> <div style="margin-top:0pt;margin-bottom:0pt;margin-left:1.11em;margin-right:1.11em;"> <img alt="LOGO" src="g133061g66z17.jpg"/> </div></td> </tr> </table> <table cellpadding="0" cellspacing="0" style="border-collapse:collapse;font-family:arial;font-size:8pt;border-spacing:0px;width:100%"> <tr style="page-break-inside:avoid"> <td style="width:1%;"> </td> <td style="width:4%;vertical-align:top;text-align:left;">(1)</td> <td style="vertical-align:top;text-align:left;"> <div style="margin-top:0pt;margin-bottom:0pt;font-size:8pt;font-family:arial;text-align:left;">The ratings disclosed are the highest rating given by one of the following national rating agencies: Standard &amp; Poor’s (S&amp;P), Moody’s Investors Service, Inc. (Moody’s) or Fitch, Inc (Fitch). This treatment of split-rated securities may differ from that used for other purposes, such as for Fund investment policies. Credit ratings are subject to change. AAA, AA, A, and BBB are investment grade ratings; BB, B, CCC, CC, C and D are below-investment grade ratings. Holdings designated N/R are not rated by these national ratings agencies. </div></td> </tr></table> <table cellpadding="0" cellspacing="0" style="border-collapse:collapse;font-family:arial;font-size:8pt;border-spacing:0px;width:100%"> <tr style="page-break-inside:avoid"> <td style="width:1%;"> </td> <td style="width:4%;vertical-align:top;text-align:left;">(2)</td> <td style="vertical-align:top;text-align:left;"> <div style="margin-top:0pt;margin-bottom:0pt;font-size:8pt;font-family:arial;text-align:left;">Total investments include the Fund’s assets attributable to financial leverage. For these purposes, financial leverage includes the Fund’s investments in the residual interest certificates (also called inverse floating rate securities) in tender option bond (TOB) trusts, including the portion of assets held by a TOB trust that has been effectively financed by the trust’s issuance of floating rate securities. </div></td> </tr></table> The ratings disclosed are the highest rating given by one of the following national rating agencies: Standard &amp; Poor’s (S&amp;P), Moody’s Investors Service, Inc. (Moody’s) or Fitch, Inc (Fitch). This treatment of split-rated securities may differ from that used for other purposes, such as for Fund investment policies. Credit ratings are subject to change. AAA, AA, A, and BBB are investment grade ratings; BB, B, CCC, CC, C and D are below-investment grade ratings. Holdings designated N/R are not rated by these national ratings agencies. Total investments include the Fund’s assets attributable to financial leverage. For these purposes, financial leverage includes the Fund’s investments in the residual interest certificates (also called inverse floating rate securities) in tender option bond (TOB) trusts, including the portion of assets held by a TOB trust that has been effectively financed by the trust’s issuance of floating rate securities. <div style="margin-top:0pt;margin-bottom:0pt;margin-left:2%;font-size:11pt;font-family:arial;"><span style="color:#0071ce"><span style="font-weight:bold">How has the Fund changed? </span></span></div><div style="margin-top:6pt;margin-bottom:0pt;margin-left:2%;font-size:9pt;font-family:arial;font-weight:bold;">For more complete information, you may review the Fund’s next prospectus, which is expected to be available by September 30, 2026 at https://www.nuveen.com/en-us/mutual-funds/prospectuses or upon request at (800) 257-8787. </div> <div style="margin-top:6pt;margin-bottom:0pt;margin-left:2%;font-size:9pt;font-family:arial;font-weight:bold;">For more complete information, you may review the Fund’s next prospectus, which is expected to be available by September 30, 2026 at https://www.nuveen.com/en-us/mutual-funds/prospectuses or upon request at (800) 257-8787. </div> https://www.nuveen.com/en-us/mutual-funds/prospectuses (800) 257-8787 Nuveen Kentucky Municipal Bond Fund Class I Shares FKYRX This annual shareholder report contains important information about the Class I Shares of the Nuveen Kentucky Municipal Bond Fund for the period of June 1, 2025 to May 31, 2026. annual shareholder report You can find additional information at https://www.nuveen.com/en-us/mutual-funds/prospectuses. You can also request this information by contacting us at (800) 257-8787. https://www.nuveen.com/en-us/mutual-funds/prospectuses (800) 257-8787 <div style="margin-top:18pt;margin-bottom:0pt;margin-left:2%;margin-right:2%;font-size:9pt;font-family:arial;font-weight:bold;">This report describes changes to the Fund that occurred during the reporting period. </div> <div style="margin-top:0pt;margin-bottom:0pt;margin-left:2%;font-size:11pt;font-family:arial;"><span style="color:#0071ce"><span style="font-weight:bold">What were the Fund costs for the last year? </span></span><span style="font-family:arial">(based on a hypothetical $10,000 investment)</span><span style="font-family:arial;color:#0071ce"><span style="font-weight:bold"> </span></span></div> <table cellpadding="0" cellspacing="0" style="border-collapse:collapse;font-family:arial;font-size:8pt;width:96%;border-spacing:0px;margin:0 auto"> <tr> <td style="width:33%;"></td> <td style="vertical-align:bottom;"></td> <td style="width:33%;"></td> <td style="vertical-align:bottom;"></td> <td style="width:32%;"></td> </tr> <tr style="font-size:1pt"> <td style="height:3pt;"></td> <td colspan="2" style="BORDER-LEFT:0.75pt solid #7fb8e6; BORDER-TOP:0.75pt solid #7fb8e6;height:3pt;"> </td> <td colspan="2" style="BORDER-LEFT:0.75pt solid #7fb8e6; BORDER-TOP:0.75pt solid #7fb8e6; BORDER-RIGHT:0.75pt solid #7fb8e6;height:3pt;"> </td> </tr> <tr style="page-break-inside:avoid;font-family:arial;font-size:8pt"> <td style="vertical-align:bottom;"> </td> <td style=" BORDER-LEFT:0.75pt solid #7fb8e6;vertical-align:bottom;"> </td> <td style="padding-bottom:3pt ;vertical-align:middle;text-align:right;"><span style="font-weight:bold">Cost of a $10,000 investment </span></td> <td style=" BORDER-LEFT:0.75pt solid #7fb8e6;vertical-align:bottom;"> </td> <td style="padding-bottom:3pt ;BORDER-RIGHT:0.75pt solid #7fb8e6; padding-right:2pt;vertical-align:bottom;text-align:right;"><span style="font-weight:bold">Costs paid as a percentage of<br/> $10,000 investment*</span></td> </tr> <tr style="font-size:1pt"> <td style="BORDER-LEFT:0.75pt solid #7fb8e6; BORDER-TOP:0.75pt solid #7fb8e6; padding-left:8pt;height:3pt;"> </td> <td colspan="2" style="BORDER-LEFT:0.75pt solid #7fb8e6; BORDER-TOP:0.75pt solid #7fb8e6;height:3pt;"> </td> <td colspan="2" style="BORDER-LEFT:0.75pt solid #7fb8e6; BORDER-TOP:0.75pt solid #7fb8e6; BORDER-RIGHT:0.75pt solid #7fb8e6;height:3pt;"> </td> </tr> <tr style="page-break-inside:avoid;font-family:arial;font-size:8pt"> <td style="padding-bottom:3pt ;BORDER-LEFT:0.75pt solid #7fb8e6; BORDER-BOTTOM:0.75pt solid #7fb8e6; padding-left:8pt;vertical-align:top;"> <div style="margin-top:0pt;margin-bottom:0pt;margin-left:1.00em;text-indent:-1.00em;font-size:8pt;font-family:arial;">Class I Shares</div></td> <td style=" BORDER-LEFT:0.75pt solid #7fb8e6; BORDER-BOTTOM:0.75pt solid #7fb8e6;vertical-align:bottom;"> </td> <td style="padding-bottom:3pt ;BORDER-BOTTOM:0.75pt solid #7fb8e6;vertical-align:bottom;white-space:nowrap;text-align:right;">$100 </td> <td style=" BORDER-LEFT:0.75pt solid #7fb8e6; BORDER-BOTTOM:0.75pt solid #7fb8e6;vertical-align:bottom;"> </td> <td style="padding-bottom:3pt ;BORDER-RIGHT:0.75pt solid #7fb8e6; BORDER-BOTTOM:0.75pt solid #7fb8e6; padding-right:2pt;vertical-align:bottom;white-space:nowrap;text-align:right;">0.96%</td> </tr> </table> <table cellpadding="0" cellspacing="0" style="border-collapse:collapse;font-family:arial;font-size:8pt;border-spacing:0px;width:100%"> <tr style="page-break-inside:avoid"> <td style="width:3%;"> </td> <td style="width:1%;vertical-align:top;text-align:right;">*</td> <td style="width:1%;vertical-align:top;"> </td> <td style="vertical-align:top;text-align:left;"> <div style="margin-top:0pt;margin-bottom:0pt;font-family:arial;font-size:8pt;text-align:justify;">Annualized for period less than one year. </div></td> <td style="width:2%;"> </td> </tr></table> 100 0.0096 <div style="margin-top:0pt;margin-bottom:0pt;margin-left:2%;font-size:11pt;font-family:arial;"><span style="color:#0071ce"><span style="font-weight:bold">How did the Fund perform last year? What affected the Fund’s performance? </span></span></div> <table cellpadding="0" cellspacing="0" style="border-collapse:collapse;font-family:arial;font-size:9pt;width:96%;border-spacing:0px;margin:0 auto"> <tr> <td style="width:100%;"></td> </tr> <tr style="page-break-inside:avoid;font-family:arial;font-size:9pt"> <td style="vertical-align:top;"> <div style="margin-top:0pt;margin-bottom:0pt;font-size:9pt;font-family:arial;font-weight:bold;">Performance Highlights</div> <div style="font-size:6pt;margin-top:0pt;margin-bottom:0pt;"> </div> <div style="margin-top:0pt;margin-bottom:0pt;margin-right:1.11em;font-size:9pt;font-family:arial;">The Nuveen Kentucky Municipal Bond Fund returned 7.50% for Class I Shares at net asset value (NAV) for the 12 months ended May 31, 2026. The Fund outperformed the S&amp;P Municipal Bond Kentucky Index, which returned 6.71%.</div> <div style="font-size:6pt;margin-top:0pt;margin-bottom:0pt;"> </div> <div style="margin-top:0pt;margin-bottom:0pt;margin-right:1.11em;font-size:9pt;font-family:arial;">Top contributors to relative performance</div> <div style="font-size:6pt;margin-top:0pt;margin-bottom:0pt;"> </div> <div style="margin-top:0pt;margin-bottom:0pt;margin-right:1.67em;display:table-row;"> <div style="display:table-cell;"> <div style="margin-top:0pt;margin-bottom:0pt;margin-left:2.222222em;font-family:arial;">•</div></div> <div style="display:table-cell;"> <div style="margin-top:0pt;margin-bottom:0pt;margin-left:0.538889em;font-family:arial;">Duration positioning, especially an overweight to longer-duration bonds and an underweight to bonds with durations between two and six years.</div></div></div> <div style="font-size:6pt;margin-top:0pt;margin-bottom:0pt;"> </div> <div style="margin-top:0pt;margin-bottom:0pt;margin-right:1.67em;display:table-row;"> <div style="display:table-cell;"> <div style="margin-top:0pt;margin-bottom:0pt;margin-left:2.222222em;font-family:arial;">•</div></div> <div style="display:table-cell;"> <div style="margin-top:0pt;margin-bottom:0pt;margin-left:0.538889em;font-family:arial;">Credit quality positioning, especially an overweight to non-rated bonds.</div></div></div> <div style="font-size:6pt;margin-top:0pt;margin-bottom:0pt;"> </div> <div style="margin-top:0pt;margin-bottom:0pt;margin-right:1.67em;display:table-row;"> <div style="display:table-cell;"> <div style="margin-top:0pt;margin-bottom:0pt;margin-left:2.222222em;font-family:arial;">•</div></div> <div style="display:table-cell;"> <div style="margin-top:0pt;margin-bottom:0pt;margin-left:0.538889em;font-family:arial;">An underweight to the industrial revenue development bond sector.</div></div></div> <div style="font-size:6pt;margin-top:0pt;margin-bottom:0pt;"> </div> <div style="margin-top:0pt;margin-bottom:0pt;margin-right:1.11em;font-size:9pt;font-family:arial;">Top detractors from relative performance</div> <div style="font-size:6pt;margin-top:0pt;margin-bottom:0pt;"> </div> <div style="margin-top:0pt;margin-bottom:0pt;margin-right:1.67em;display:table-row;"> <div style="display:table-cell;"> <div style="margin-top:0pt;margin-bottom:0pt;margin-left:2.222222em;font-family:arial;">•</div></div> <div style="display:table-cell;"> <div style="margin-top:0pt;margin-bottom:0pt;margin-left:0.538889em;font-family:arial;">Sector positioning, especially an overweight to health care bonds.</div></div></div></td> </tr> </table> Performance data shown represents past performance and does not predict or guarantee future results. The<span style="font-weight:bold"> </span>graph and table do not reflect the deduction of taxes that a shareholder would pay on Fund distributions or redemption of Fund Shares. <div style="margin-top:0pt;margin-bottom:0pt;margin-left:2%;margin-right:2%;"> <img alt="LOGO" src="g133061g99a17.jpg"/> </div> <div style="margin-top:0pt;margin-bottom:0pt;margin-left:2%;margin-right:2%;font-size:9pt;font-family:arial;font-weight:bold;">Average Annual Total Returns </div> <table cellpadding="0" cellspacing="0" style="border-collapse:collapse;font-family:arial;font-size:8pt;width:96%;border-spacing:0px;margin:0 auto"> <tr> <td style="width:64%;"></td> <td style="vertical-align:bottom;width:6%;"></td> <td></td> <td></td> <td style="vertical-align:bottom;width:3%;"></td> <td style="vertical-align:bottom;width:6%;"></td> <td></td> <td></td> <td style="vertical-align:bottom;width:3%;"></td> <td style="vertical-align:bottom;width:6%;"></td> <td></td> <td></td> <td style="vertical-align:bottom;width:3%;"></td> </tr> <tr style="font-size:1pt"> <td style="height:3pt;"></td> <td colspan="4" style="BORDER-LEFT:0.75pt solid #7fb8e6; BORDER-TOP:0.75pt solid #7fb8e6; BORDER-RIGHT:0.75pt solid #7fb8e6;height:3pt;"> </td> <td colspan="4" style="BORDER-TOP:0.75pt solid #7fb8e6;height:3pt;"> </td> <td colspan="4" style="BORDER-LEFT:0.75pt solid #7fb8e6; BORDER-TOP:0.75pt solid #7fb8e6; BORDER-RIGHT:0.75pt solid #7fb8e6;height:3pt;"> </td> </tr> <tr style="page-break-inside:avoid;font-family:arial;font-size:8pt"> <td style="vertical-align:top;"> </td> <td style=" BORDER-LEFT:0.75pt solid #7fb8e6;vertical-align:bottom;">    </td> <td colspan="2" style="padding-bottom:3pt ;vertical-align:bottom;white-space:nowrap;text-align:center;"><span style="font-weight:bold">1-Year</span></td> <td style=" BORDER-RIGHT:0.75pt solid #7fb8e6;vertical-align:bottom;"> </td> <td style="vertical-align:bottom;">    </td> <td colspan="2" style="padding-bottom:3pt ;vertical-align:bottom;white-space:nowrap;text-align:center;"><span style="font-weight:bold">5-Year</span></td> <td style="vertical-align:bottom;"> </td> <td style=" BORDER-LEFT:0.75pt solid #7fb8e6;vertical-align:bottom;">    </td> <td colspan="2" style="padding-bottom:3pt ;vertical-align:bottom;white-space:nowrap;text-align:center;"><span style="font-weight:bold">10-Year</span></td> <td style=" BORDER-RIGHT:0.75pt solid #7fb8e6; padding-right:2pt;vertical-align:bottom;"> </td> </tr> <tr style="font-size:1pt"> <td style="BORDER-LEFT:0.75pt solid #7fb8e6; BORDER-TOP:0.75pt solid #7fb8e6; padding-left:8pt;height:3pt;"> </td> <td colspan="4" style="BORDER-LEFT:0.75pt solid #7fb8e6; BORDER-TOP:0.75pt solid #7fb8e6; BORDER-RIGHT:0.75pt solid #7fb8e6;height:3pt;"> </td> <td colspan="4" style="BORDER-TOP:0.75pt solid #7fb8e6;height:3pt;"> </td> <td colspan="4" style="BORDER-LEFT:0.75pt solid #7fb8e6; BORDER-TOP:0.75pt solid #7fb8e6; BORDER-RIGHT:0.75pt solid #7fb8e6;height:3pt;"> </td> </tr> <tr style="page-break-inside:avoid;font-family:arial;font-size:8pt"> <td style="padding-bottom:3pt ;BORDER-LEFT:0.75pt solid #7fb8e6; padding-left:8pt;vertical-align:top;"> <div style="margin-top:0pt;margin-bottom:0pt;margin-left:1.00em;text-indent:-1.00em;font-size:8pt;font-family:arial;">Class I Shares at NAV</div></td> <td style=" BORDER-LEFT:0.75pt solid #7fb8e6;vertical-align:bottom;">    </td> <td style="padding-bottom:3pt ;white-space:nowrap;vertical-align:bottom;"> </td> <td style="padding-bottom:3pt ;white-space:nowrap;vertical-align:bottom;text-align:right;">7.50</td> <td style="padding-bottom:3pt ;BORDER-RIGHT:0.75pt solid #7fb8e6;white-space:nowrap;vertical-align:bottom;">% </td> <td style="vertical-align:bottom;">    </td> <td style="padding-bottom:3pt ;white-space:nowrap;vertical-align:bottom;"> </td> <td style="padding-bottom:3pt ;white-space:nowrap;vertical-align:bottom;text-align:right;">0.39</td> <td style="padding-bottom:3pt ;white-space:nowrap;vertical-align:bottom;">% </td> <td style=" BORDER-LEFT:0.75pt solid #7fb8e6;vertical-align:bottom;">    </td> <td style="padding-bottom:3pt ;white-space:nowrap;vertical-align:bottom;"> </td> <td style="padding-bottom:3pt ;white-space:nowrap;vertical-align:bottom;text-align:right;">1.84</td> <td style="padding-bottom:3pt ;BORDER-RIGHT:0.75pt solid #7fb8e6; padding-right:2pt;white-space:nowrap;vertical-align:bottom;">% </td> </tr> <tr style="font-size:1pt"> <td style="BORDER-LEFT:0.75pt solid #7fb8e6; BORDER-TOP:0.75pt solid #7fb8e6; padding-left:8pt;height:3pt;"> </td> <td colspan="4" style="BORDER-LEFT:0.75pt solid #7fb8e6; BORDER-TOP:0.75pt solid #7fb8e6; BORDER-RIGHT:0.75pt solid #7fb8e6;height:3pt;"> </td> <td colspan="4" style="BORDER-TOP:0.75pt solid #7fb8e6;height:3pt;"> </td> <td colspan="4" style="BORDER-LEFT:0.75pt solid #7fb8e6; BORDER-TOP:0.75pt solid #7fb8e6; BORDER-RIGHT:0.75pt solid #7fb8e6;height:3pt;"> </td> </tr> <tr style="page-break-inside:avoid;font-family:arial;font-size:8pt"> <td style="padding-bottom:3pt ;BORDER-LEFT:0.75pt solid #7fb8e6; padding-left:8pt;vertical-align:top;"> <div style="margin-top:0pt;margin-bottom:0pt;margin-left:1.00em;text-indent:-1.00em;font-size:8pt;font-family:arial;">S&amp;P Municipal Bond Index</div></td> <td style=" BORDER-LEFT:0.75pt solid #7fb8e6;vertical-align:bottom;">    </td> <td style="padding-bottom:3pt ;white-space:nowrap;vertical-align:bottom;"> </td> <td style="padding-bottom:3pt ;white-space:nowrap;vertical-align:bottom;text-align:right;">6.57</td> <td style="padding-bottom:3pt ;BORDER-RIGHT:0.75pt solid #7fb8e6;white-space:nowrap;vertical-align:bottom;">% </td> <td style="vertical-align:bottom;">    </td> <td style="padding-bottom:3pt ;white-space:nowrap;vertical-align:bottom;"> </td> <td style="padding-bottom:3pt ;white-space:nowrap;vertical-align:bottom;text-align:right;">1.14</td> <td style="padding-bottom:3pt ;white-space:nowrap;vertical-align:bottom;">% </td> <td style=" BORDER-LEFT:0.75pt solid #7fb8e6;vertical-align:bottom;">    </td> <td style="padding-bottom:3pt ;white-space:nowrap;vertical-align:bottom;"> </td> <td style="padding-bottom:3pt ;white-space:nowrap;vertical-align:bottom;text-align:right;">2.30</td> <td style="padding-bottom:3pt ;BORDER-RIGHT:0.75pt solid #7fb8e6; padding-right:2pt;white-space:nowrap;vertical-align:bottom;">% </td> </tr> <tr style="font-size:1pt"> <td style="BORDER-LEFT:0.75pt solid #7fb8e6; BORDER-TOP:0.75pt solid #7fb8e6; padding-left:8pt;height:3pt;"> </td> <td colspan="4" style="BORDER-LEFT:0.75pt solid #7fb8e6; BORDER-TOP:0.75pt solid #7fb8e6; BORDER-RIGHT:0.75pt solid #7fb8e6;height:3pt;"> </td> <td colspan="4" style="BORDER-TOP:0.75pt solid #7fb8e6;height:3pt;"> </td> <td colspan="4" style="BORDER-LEFT:0.75pt solid #7fb8e6; BORDER-TOP:0.75pt solid #7fb8e6; BORDER-RIGHT:0.75pt solid #7fb8e6;height:3pt;"> </td> </tr> <tr style="page-break-inside:avoid;font-family:arial;font-size:8pt"> <td style="padding-bottom:3pt ;BORDER-LEFT:0.75pt solid #7fb8e6; padding-left:8pt;vertical-align:top;"> <div style="margin-top:0pt;margin-bottom:0pt;margin-left:1.00em;text-indent:-1.00em;font-size:8pt;font-family:arial;">S&amp;P Municipal Bond Kentucky Index</div></td> <td style=" BORDER-LEFT:0.75pt solid #7fb8e6;vertical-align:bottom;">    </td> <td style="padding-bottom:3pt ;white-space:nowrap;vertical-align:bottom;"> </td> <td style="padding-bottom:3pt ;white-space:nowrap;vertical-align:bottom;text-align:right;">6.71</td> <td style="padding-bottom:3pt ;BORDER-RIGHT:0.75pt solid #7fb8e6;white-space:nowrap;vertical-align:bottom;">% </td> <td style="vertical-align:bottom;">    </td> <td style="padding-bottom:3pt ;white-space:nowrap;vertical-align:bottom;"> </td> <td style="padding-bottom:3pt ;white-space:nowrap;vertical-align:bottom;text-align:right;">1.50</td> <td style="padding-bottom:3pt ;white-space:nowrap;vertical-align:bottom;">% </td> <td style=" BORDER-LEFT:0.75pt solid #7fb8e6;vertical-align:bottom;">    </td> <td style="padding-bottom:3pt ;white-space:nowrap;vertical-align:bottom;"> </td> <td style="padding-bottom:3pt ;white-space:nowrap;vertical-align:bottom;text-align:right;">2.51</td> <td style="padding-bottom:3pt ;BORDER-RIGHT:0.75pt solid #7fb8e6; padding-right:2pt;white-space:nowrap;vertical-align:bottom;">% </td> </tr> <tr style="font-size:1pt"> <td style="BORDER-LEFT:0.75pt solid #7fb8e6; BORDER-TOP:0.75pt solid #7fb8e6; padding-left:8pt;height:3pt;"> </td> <td colspan="4" style="BORDER-LEFT:0.75pt solid #7fb8e6; BORDER-TOP:0.75pt solid #7fb8e6; BORDER-RIGHT:0.75pt solid #7fb8e6;height:3pt;"> </td> <td colspan="4" style="BORDER-TOP:0.75pt solid #7fb8e6;height:3pt;"> </td> <td colspan="4" style="BORDER-LEFT:0.75pt solid #7fb8e6; BORDER-TOP:0.75pt solid #7fb8e6; BORDER-RIGHT:0.75pt solid #7fb8e6;height:3pt;"> </td> </tr> <tr style="page-break-inside:avoid;font-family:arial;font-size:8pt"> <td style="padding-bottom:3pt ;BORDER-LEFT:0.75pt solid #7fb8e6; BORDER-BOTTOM:0.75pt solid #7fb8e6; padding-left:8pt;vertical-align:top;"> <div style="margin-top:0pt;margin-bottom:0pt;margin-left:1.00em;text-indent:-1.00em;font-size:8pt;font-family:arial;">Lipper Other States Municipal Debt Funds Classification Average</div></td> <td style=" BORDER-LEFT:0.75pt solid #7fb8e6; BORDER-BOTTOM:0.75pt solid #7fb8e6;vertical-align:bottom;">    </td> <td style="padding-bottom:3pt ;BORDER-BOTTOM:0.75pt solid #7fb8e6;white-space:nowrap;vertical-align:bottom;"> </td> <td style="padding-bottom:3pt ;BORDER-BOTTOM:0.75pt solid #7fb8e6;white-space:nowrap;vertical-align:bottom;text-align:right;">7.08</td> <td style="padding-bottom:3pt ;BORDER-RIGHT:0.75pt solid #7fb8e6; BORDER-BOTTOM:0.75pt solid #7fb8e6;white-space:nowrap;vertical-align:bottom;">% </td> <td style=" BORDER-BOTTOM:0.75pt solid #7fb8e6;vertical-align:bottom;">    </td> <td style="padding-bottom:3pt ;BORDER-BOTTOM:0.75pt solid #7fb8e6;white-space:nowrap;vertical-align:bottom;"> </td> <td style="padding-bottom:3pt ;BORDER-BOTTOM:0.75pt solid #7fb8e6;white-space:nowrap;vertical-align:bottom;text-align:right;">0.43</td> <td style="padding-bottom:3pt ;BORDER-BOTTOM:0.75pt solid #7fb8e6;white-space:nowrap;vertical-align:bottom;">% </td> <td style=" BORDER-LEFT:0.75pt solid #7fb8e6; BORDER-BOTTOM:0.75pt solid #7fb8e6;vertical-align:bottom;">    </td> <td style="padding-bottom:3pt ;BORDER-BOTTOM:0.75pt solid #7fb8e6;white-space:nowrap;vertical-align:bottom;"> </td> <td style="padding-bottom:3pt ;BORDER-BOTTOM:0.75pt solid #7fb8e6;white-space:nowrap;vertical-align:bottom;text-align:right;">1.54</td> <td style="padding-bottom:3pt ;BORDER-RIGHT:0.75pt solid #7fb8e6; BORDER-BOTTOM:0.75pt solid #7fb8e6; padding-right:2pt;white-space:nowrap;vertical-align:bottom;">% </td> </tr> </table> Class I Shares at NAV 0.0750 0.0039 0.0184 S&P Municipal Bond Index 0.0657 0.0114 0.0230 S&P Municipal Bond Kentucky Index 0.0671 0.0150 0.0251 Lipper Other States Municipal Debt Funds Classification Average 0.0708 0.0043 0.0154 For most recent month-end performance, go to https://www.nuveen.com/en-us/mutual-funds/prospectuses or call (800) 257‑8787. <div style="margin-top:0pt;margin-bottom:0pt;margin-left:2%;font-size:11pt;font-family:arial;"><span style="color:#0071ce"><span style="font-weight:bold">Fund Statistics (as of May 31, 2026) </span></span></div> <table cellpadding="0" cellspacing="0" style="border-collapse:collapse;font-family:arial;font-size:8pt;width:96%;border-spacing:0px;margin:0 auto"> <tr> <td style="width:87%;"></td> <td style="vertical-align:bottom;width:2%;"></td> <td></td> <td></td> <td style="vertical-align:bottom;width:2%;"></td> </tr> <tr style="font-size:1pt"> <td style="height:3pt;"></td> <td colspan="4" style="height:3pt;"></td> </tr> <tr style="page-break-inside:avoid;font-family:arial;font-size:8pt"> <td style="padding-bottom:3pt ;BORDER-BOTTOM:0.75pt solid #7fb8e6;vertical-align:top;"> <div style="margin-top:0pt;margin-bottom:0pt;margin-left:1.00em;text-indent:-1.00em;font-size:8pt;font-family:arial;">Fund net assets</div></td> <td style=" BORDER-BOTTOM:0.75pt solid #7fb8e6;vertical-align:bottom;">  </td> <td style="padding-bottom:3pt ;BORDER-BOTTOM:0.75pt solid #7fb8e6;white-space:nowrap;vertical-align:bottom;">$</td> <td style="padding-bottom:3pt ;BORDER-BOTTOM:0.75pt solid #7fb8e6;white-space:nowrap;vertical-align:bottom;text-align:right;">220,120,918</td> <td style="padding-bottom:3pt ;BORDER-BOTTOM:0.75pt solid #7fb8e6;white-space:nowrap;vertical-align:bottom;"> </td> </tr> <tr style="font-size:1pt"> <td style="height:3pt;"></td> <td colspan="4" style="height:3pt;"></td> </tr> <tr style="page-break-inside:avoid;font-family:arial;font-size:8pt"> <td style="padding-bottom:3pt ;BORDER-BOTTOM:0.75pt solid #7fb8e6;vertical-align:top;"> <div style="margin-top:0pt;margin-bottom:0pt;margin-left:1.00em;text-indent:-1.00em;font-size:8pt;font-family:arial;">Total number of portfolio holdings</div></td> <td style=" BORDER-BOTTOM:0.75pt solid #7fb8e6;vertical-align:bottom;">  </td> <td style="padding-bottom:3pt ;BORDER-BOTTOM:0.75pt solid #7fb8e6;white-space:nowrap;vertical-align:bottom;"> </td> <td style="padding-bottom:3pt ;BORDER-BOTTOM:0.75pt solid #7fb8e6;white-space:nowrap;vertical-align:bottom;text-align:right;">98</td> <td style="padding-bottom:3pt ;BORDER-BOTTOM:0.75pt solid #7fb8e6;white-space:nowrap;vertical-align:bottom;"> </td> </tr> <tr style="font-size:1pt"> <td style="height:3pt;"></td> <td colspan="4" style="height:3pt;"></td> </tr> <tr style="page-break-inside:avoid;font-family:arial;font-size:8pt"> <td style="padding-bottom:3pt ;BORDER-BOTTOM:0.75pt solid #7fb8e6;vertical-align:top;"> <div style="margin-top:0pt;margin-bottom:0pt;margin-left:1.00em;text-indent:-1.00em;font-size:8pt;font-family:arial;">Portfolio turnover (%)</div></td> <td style=" BORDER-BOTTOM:0.75pt solid #7fb8e6;vertical-align:bottom;">  </td> <td style="padding-bottom:3pt ;BORDER-BOTTOM:0.75pt solid #7fb8e6;white-space:nowrap;vertical-align:bottom;"> </td> <td style="padding-bottom:3pt ;BORDER-BOTTOM:0.75pt solid #7fb8e6;white-space:nowrap;vertical-align:bottom;text-align:right;">13%</td> <td style="padding-bottom:3pt ;BORDER-BOTTOM:0.75pt solid #7fb8e6;white-space:nowrap;vertical-align:bottom;"> </td> </tr> <tr style="font-size:1pt"> <td style="height:3pt;"></td> <td colspan="4" style="height:3pt;"></td> </tr> <tr style="page-break-inside:avoid;font-family:arial;font-size:8pt"> <td style="padding-bottom:3pt ;BORDER-BOTTOM:0.75pt solid #7fb8e6;vertical-align:top;"> <div style="margin-top:0pt;margin-bottom:0pt;margin-left:1.00em;text-indent:-1.00em;font-size:8pt;font-family:arial;">Total management fees paid for the year</div></td> <td style=" BORDER-BOTTOM:0.75pt solid #7fb8e6;vertical-align:bottom;">  </td> <td style="padding-bottom:3pt ;BORDER-BOTTOM:0.75pt solid #7fb8e6;white-space:nowrap;vertical-align:bottom;">$</td> <td style="padding-bottom:3pt ;BORDER-BOTTOM:0.75pt solid #7fb8e6;white-space:nowrap;vertical-align:bottom;text-align:right;">1,072,584</td> <td style="padding-bottom:3pt ;BORDER-BOTTOM:0.75pt solid #7fb8e6;white-space:nowrap;vertical-align:bottom;"> </td> </tr> </table> 220120918 98 0.13 1072584 <table cellpadding="0" cellspacing="0" style="border-collapse:collapse;font-family:arial;font-size:9pt;width:100%;border-spacing:0px;margin:0 auto"> <tr> <td style="width:50%;"></td> <td style="vertical-align:bottom;width:1%;"></td> <td style="width:49%;"></td> </tr> <tr style="page-break-inside:avoid;font-family:arial;font-size:9pt"> <td style="vertical-align:top;"> <div style="margin-top:0pt;margin-bottom:0pt;margin-left:1.11em;margin-right:1.11em;"> <img alt="LOGO" src="g133061g93v03.jpg"/> </div></td> <td style="vertical-align:bottom;"> </td> <td style="vertical-align:top;"> <div style="margin-top:0pt;margin-bottom:0pt;margin-left:1.11em;margin-right:1.11em;"> <img alt="LOGO" src="g133061g61s87.jpg"/> </div></td> </tr> </table> <table cellpadding="0" cellspacing="0" style="border-collapse:collapse;font-family:arial;font-size:8pt;border-spacing:0px;width:100%"> <tr style="page-break-inside:avoid"> <td style="width:1%;"> </td> <td style="width:4%;vertical-align:top;text-align:left;">(1)</td> <td style="vertical-align:top;text-align:left;"> <div style="margin-top:0pt;margin-bottom:0pt;font-size:8pt;font-family:arial;text-align:left;">The ratings disclosed are the highest rating given by one of the following national rating agencies: Standard &amp; Poor’s (S&amp;P), Moody’s Investors Service, Inc. (Moody’s) or Fitch, Inc (Fitch). This treatment of split-rated securities may differ from that used for other purposes, such as for Fund investment policies. Credit ratings are subject to change. AAA, AA, A, and BBB are investment grade ratings; BB, B, CCC, CC, C and D are below-investment grade ratings. Holdings designated N/R are not rated by these national ratings agencies. </div></td> </tr></table> <table cellpadding="0" cellspacing="0" style="border-collapse:collapse;font-family:arial;font-size:8pt;border-spacing:0px;width:100%"> <tr style="page-break-inside:avoid"> <td style="width:1%;"> </td> <td style="width:4%;vertical-align:top;text-align:left;">(2)</td> <td style="vertical-align:top;text-align:left;"> <div style="margin-top:0pt;margin-bottom:0pt;font-size:8pt;font-family:arial;text-align:left;">Total investments include the Fund’s assets attributable to financial leverage. For these purposes, financial leverage includes the Fund’s investments in the residual interest certificates (also called inverse floating rate securities) in tender option bond (TOB) trusts, including the portion of assets held by a TOB trust that has been effectively financed by the trust’s issuance of floating rate securities. </div></td> </tr></table> The ratings disclosed are the highest rating given by one of the following national rating agencies: Standard &amp; Poor’s (S&amp;P), Moody’s Investors Service, Inc. (Moody’s) or Fitch, Inc (Fitch). This treatment of split-rated securities may differ from that used for other purposes, such as for Fund investment policies. Credit ratings are subject to change. AAA, AA, A, and BBB are investment grade ratings; BB, B, CCC, CC, C and D are below-investment grade ratings. Holdings designated N/R are not rated by these national ratings agencies. Total investments include the Fund’s assets attributable to financial leverage. For these purposes, financial leverage includes the Fund’s investments in the residual interest certificates (also called inverse floating rate securities) in tender option bond (TOB) trusts, including the portion of assets held by a TOB trust that has been effectively financed by the trust’s issuance of floating rate securities. <div style="margin-top:0pt;margin-bottom:0pt;margin-left:2%;font-size:11pt;font-family:arial;"><span style="color:#0071ce"><span style="font-weight:bold">How has the Fund changed? </span></span></div><div style="margin-top:6pt;margin-bottom:0pt;margin-left:2%;font-size:9pt;font-family:arial;font-weight:bold;">For more complete information, you may review the Fund’s next prospectus, which is expected to be available by September 30, 2026 at https://www.nuveen.com/en-us/mutual-funds/prospectuses or upon request at (800) 257-8787. </div> <div style="margin-top:6pt;margin-bottom:0pt;margin-left:2%;font-size:9pt;font-family:arial;font-weight:bold;">For more complete information, you may review the Fund’s next prospectus, which is expected to be available by September 30, 2026 at https://www.nuveen.com/en-us/mutual-funds/prospectuses or upon request at (800) 257-8787. </div> https://www.nuveen.com/en-us/mutual-funds/prospectuses (800) 257-8787 Nuveen Michigan Municipal Bond Fund Class A Shares FMITX This annual shareholder report contains important information about the Class A Shares of the Nuveen Michigan Municipal Bond Fund for the period of June 1, 2025 to May 31, 2026. annual shareholder report You can find additional information at https://www.nuveen.com/en-us/mutual-funds/prospectuses. You can also request this information by contacting us at (800) 257-8787. https://www.nuveen.com/en-us/mutual-funds/prospectuses (800) 257-8787 <div style="margin-top:18pt;margin-bottom:0pt;margin-left:2%;margin-right:2%;font-size:9pt;font-family:arial;font-weight:bold;">This report describes changes to the Fund that occurred during the reporting period. </div> <div style="margin-top:0pt;margin-bottom:0pt;margin-left:2%;font-size:11pt;font-family:arial;"><span style="color:#0071ce"><span style="font-weight:bold">What were the Fund costs for the last year? </span></span><span style="font-family:arial">(based on a hypothetical $10,000 investment)</span><span style="font-family:arial;color:#0071ce"><span style="font-weight:bold"> </span></span></div> <table cellpadding="0" cellspacing="0" style="border-collapse:collapse;font-family:arial;font-size:8pt;width:96%;border-spacing:0px;margin:0 auto"> <tr> <td style="width:33%;"></td> <td style="vertical-align:bottom;"></td> <td style="width:33%;"></td> <td style="vertical-align:bottom;"></td> <td style="width:32%;"></td> </tr> <tr style="font-size:1pt"> <td style="height:3pt;"></td> <td colspan="2" style="BORDER-LEFT:0.75pt solid #7fb8e6; BORDER-TOP:0.75pt solid #7fb8e6;height:3pt;"> </td> <td colspan="2" style="BORDER-LEFT:0.75pt solid #7fb8e6; BORDER-TOP:0.75pt solid #7fb8e6; BORDER-RIGHT:0.75pt solid #7fb8e6;height:3pt;"> </td> </tr> <tr style="page-break-inside:avoid;font-family:arial;font-size:8pt"> <td style="vertical-align:bottom;"> </td> <td style=" BORDER-LEFT:0.75pt solid #7fb8e6;vertical-align:bottom;"> </td> <td style="padding-bottom:3pt ;vertical-align:middle;text-align:right;"><span style="font-weight:bold">Cost of a $10,000 investment </span></td> <td style=" BORDER-LEFT:0.75pt solid #7fb8e6;vertical-align:bottom;"> </td> <td style="padding-bottom:3pt ;BORDER-RIGHT:0.75pt solid #7fb8e6; padding-right:2pt;vertical-align:bottom;text-align:right;"><span style="font-weight:bold">Costs paid as a percentage of<br/> $10,000 investment*</span></td> </tr> <tr style="font-size:1pt"> <td style="BORDER-LEFT:0.75pt solid #7fb8e6; BORDER-TOP:0.75pt solid #7fb8e6; padding-left:8pt;height:3pt;"> </td> <td colspan="2" style="BORDER-LEFT:0.75pt solid #7fb8e6; BORDER-TOP:0.75pt solid #7fb8e6;height:3pt;"> </td> <td colspan="2" style="BORDER-LEFT:0.75pt solid #7fb8e6; BORDER-TOP:0.75pt solid #7fb8e6; BORDER-RIGHT:0.75pt solid #7fb8e6;height:3pt;"> </td> </tr> <tr style="page-break-inside:avoid;font-family:arial;font-size:8pt"> <td style="padding-bottom:3pt ;BORDER-LEFT:0.75pt solid #7fb8e6; BORDER-BOTTOM:0.75pt solid #7fb8e6; padding-left:8pt;vertical-align:top;"> <div style="margin-top:0pt;margin-bottom:0pt;margin-left:1.00em;text-indent:-1.00em;font-size:8pt;font-family:arial;">Class A Shares</div></td> <td style=" BORDER-LEFT:0.75pt solid #7fb8e6; BORDER-BOTTOM:0.75pt solid #7fb8e6;vertical-align:bottom;"> </td> <td style="padding-bottom:3pt ;BORDER-BOTTOM:0.75pt solid #7fb8e6;vertical-align:bottom;white-space:nowrap;text-align:right;">$85 </td> <td style=" BORDER-LEFT:0.75pt solid #7fb8e6; BORDER-BOTTOM:0.75pt solid #7fb8e6;vertical-align:bottom;"> </td> <td style="padding-bottom:3pt ;BORDER-RIGHT:0.75pt solid #7fb8e6; BORDER-BOTTOM:0.75pt solid #7fb8e6; padding-right:2pt;vertical-align:bottom;white-space:nowrap;text-align:right;">0.82%</td> </tr> </table> <table cellpadding="0" cellspacing="0" style="border-collapse:collapse;font-family:arial;font-size:8pt;border-spacing:0px;width:100%"> <tr style="page-break-inside:avoid"> <td style="width:3%;"> </td> <td style="width:1%;vertical-align:top;text-align:right;">*</td> <td style="width:1%;vertical-align:top;"> </td> <td style="vertical-align:top;text-align:left;"> <div style="margin-top:0pt;margin-bottom:0pt;font-family:arial;font-size:8pt;text-align:justify;">Annualized for period less than one year. </div></td> <td style="width:2%;"> </td> </tr></table> 85 0.0082 <div style="margin-top:0pt;margin-bottom:0pt;margin-left:2%;font-size:11pt;font-family:arial;"><span style="color:#0071ce"><span style="font-weight:bold">How did the Fund perform last year? What affected the Fund’s performance? </span></span></div> <table cellpadding="0" cellspacing="0" style="border-collapse:collapse;font-family:arial;font-size:9pt;width:96%;border-spacing:0px;margin:0 auto"> <tr> <td style="width:100%;"></td> </tr> <tr style="page-break-inside:avoid;font-family:arial;font-size:9pt"> <td style="vertical-align:top;"> <div style="margin-top:0pt;margin-bottom:0pt;font-size:9pt;font-family:arial;font-weight:bold;">Performance Highlights</div> <div style="font-size:6pt;margin-top:0pt;margin-bottom:0pt;"> </div> <div style="margin-top:0pt;margin-bottom:0pt;margin-right:1.11em;font-size:9pt;font-family:arial;">The Nuveen Michigan Municipal Bond Fund returned 6.71% for Class A Shares at net asset value (NAV) for the 12 months ended May 31, 2026. The Fund outperformed the S&amp;P Municipal Bond Michigan Index, which returned 6.36%.</div> <div style="font-size:6pt;margin-top:0pt;margin-bottom:0pt;"> </div> <div style="margin-top:0pt;margin-bottom:0pt;margin-right:1.11em;font-size:9pt;font-family:arial;">Top contributors to relative performance</div> <div style="font-size:6pt;margin-top:0pt;margin-bottom:0pt;"> </div> <div style="margin-top:0pt;margin-bottom:0pt;margin-right:1.67em;display:table-row;"> <div style="display:table-cell;"> <div style="margin-top:0pt;margin-bottom:0pt;margin-left:2.222222em;font-family:arial;">•</div></div> <div style="display:table-cell;"> <div style="margin-top:0pt;margin-bottom:0pt;margin-left:0.538889em;font-family:arial;">Duration positioning, especially an overweight to longer-duration bonds and an underweight to shorter-duration bonds.</div></div></div> <div style="font-size:6pt;margin-top:0pt;margin-bottom:0pt;"> </div> <div style="margin-top:0pt;margin-bottom:0pt;margin-right:1.67em;display:table-row;"> <div style="display:table-cell;"> <div style="margin-top:0pt;margin-bottom:0pt;margin-left:2.222222em;font-family:arial;">•</div></div> <div style="display:table-cell;"> <div style="margin-top:0pt;margin-bottom:0pt;margin-left:0.538889em;font-family:arial;">Credit quality positioning, especially an overweight to non-rated bonds.</div></div></div> <div style="font-size:6pt;margin-top:0pt;margin-bottom:0pt;"> </div> <div style="margin-top:0pt;margin-bottom:0pt;margin-right:1.67em;display:table-row;"> <div style="display:table-cell;"> <div style="margin-top:0pt;margin-bottom:0pt;margin-left:2.222222em;font-family:arial;">•</div></div> <div style="display:table-cell;"> <div style="margin-top:0pt;margin-bottom:0pt;margin-left:0.538889em;font-family:arial;">An overweight to the dedicated-tax bond sector.</div></div></div> <div style="font-size:6pt;margin-top:0pt;margin-bottom:0pt;"> </div> <div style="margin-top:0pt;margin-bottom:0pt;margin-right:1.11em;font-size:9pt;font-family:arial;">Top detractors from relative performance</div> <div style="font-size:6pt;margin-top:0pt;margin-bottom:0pt;"> </div> <div style="margin-top:0pt;margin-bottom:0pt;margin-right:1.67em;display:table-row;"> <div style="display:table-cell;"> <div style="margin-top:0pt;margin-bottom:0pt;margin-left:2.222222em;font-family:arial;">•</div></div> <div style="display:table-cell;"> <div style="margin-top:0pt;margin-bottom:0pt;margin-left:0.538889em;font-family:arial;">Sector allocation, especially an overweight to utility bonds.</div></div></div></td> </tr> </table> Performance data shown represents past performance and does not predict or guarantee future results. The<span style="font-weight:bold"> </span>graph and table do not reflect the deduction of taxes that a shareholder would pay on Fund distributions or redemption of Fund Shares. <div style="margin-top:0pt;margin-bottom:0pt;margin-left:2%;margin-right:2%;"> <img alt="LOGO" src="g133061g99a20.jpg"/> </div> <div style="margin-top:0pt;margin-bottom:0pt;margin-left:2%;margin-right:2%;font-size:9pt;font-family:arial;font-weight:bold;">Average Annual Total Returns </div> <table cellpadding="0" cellspacing="0" style="border-collapse:collapse;font-family:arial;font-size:8pt;width:96%;border-spacing:0px;margin:0 auto"> <tr> <td style="width:64%;"></td> <td style="vertical-align:bottom;width:6%;"></td> <td></td> <td></td> <td style="vertical-align:bottom;width:3%;"></td> <td style="vertical-align:bottom;width:6%;"></td> <td></td> <td></td> <td style="vertical-align:bottom;width:3%;"></td> <td style="vertical-align:bottom;width:6%;"></td> <td></td> <td></td> <td style="vertical-align:bottom;width:3%;"></td> </tr> <tr style="font-size:1pt"> <td style="height:3pt;"></td> <td colspan="4" style="BORDER-LEFT:0.75pt solid #7fb8e6; BORDER-TOP:0.75pt solid #7fb8e6; BORDER-RIGHT:0.75pt solid #7fb8e6;height:3pt;"> </td> <td colspan="4" style="BORDER-TOP:0.75pt solid #7fb8e6;height:3pt;"> </td> <td colspan="4" style="BORDER-LEFT:0.75pt solid #7fb8e6; BORDER-TOP:0.75pt solid #7fb8e6; BORDER-RIGHT:0.75pt solid #7fb8e6;height:3pt;"> </td> </tr> <tr style="page-break-inside:avoid;font-family:arial;font-size:8pt"> <td style="vertical-align:top;"> </td> <td style=" BORDER-LEFT:0.75pt solid #7fb8e6;vertical-align:bottom;">    </td> <td colspan="2" style="padding-bottom:3pt ;vertical-align:bottom;white-space:nowrap;text-align:center;"><span style="font-weight:bold">1-Year</span></td> <td style=" BORDER-RIGHT:0.75pt solid #7fb8e6;vertical-align:bottom;"> </td> <td style="vertical-align:bottom;">    </td> <td colspan="2" style="padding-bottom:3pt ;vertical-align:bottom;white-space:nowrap;text-align:center;"><span style="font-weight:bold">5-Year</span></td> <td style="vertical-align:bottom;"> </td> <td style=" BORDER-LEFT:0.75pt solid #7fb8e6;vertical-align:bottom;">    </td> <td colspan="2" style="padding-bottom:3pt ;vertical-align:bottom;white-space:nowrap;text-align:center;"><span style="font-weight:bold">10-Year</span></td> <td style=" BORDER-RIGHT:0.75pt solid #7fb8e6; padding-right:2pt;vertical-align:bottom;"> </td> </tr> <tr style="font-size:1pt"> <td style="BORDER-LEFT:0.75pt solid #7fb8e6; BORDER-TOP:0.75pt solid #7fb8e6; padding-left:8pt;height:3pt;"> </td> <td colspan="4" style="BORDER-LEFT:0.75pt solid #7fb8e6; BORDER-TOP:0.75pt solid #7fb8e6; BORDER-RIGHT:0.75pt solid #7fb8e6;height:3pt;"> </td> <td colspan="4" style="BORDER-TOP:0.75pt solid #7fb8e6;height:3pt;"> </td> <td colspan="4" style="BORDER-LEFT:0.75pt solid #7fb8e6; BORDER-TOP:0.75pt solid #7fb8e6; BORDER-RIGHT:0.75pt solid #7fb8e6;height:3pt;"> </td> </tr> <tr style="page-break-inside:avoid;font-family:arial;font-size:8pt"> <td style="padding-bottom:3pt ;BORDER-LEFT:0.75pt solid #7fb8e6; padding-left:8pt;vertical-align:top;"> <div style="margin-top:0pt;margin-bottom:0pt;margin-left:1.00em;text-indent:-1.00em;font-size:8pt;font-family:arial;">Class A Shares at NAV (excluding maximum sales charge)</div></td> <td style=" BORDER-LEFT:0.75pt solid #7fb8e6;vertical-align:bottom;">    </td> <td style="padding-bottom:3pt ;white-space:nowrap;vertical-align:bottom;"> </td> <td style="padding-bottom:3pt ;white-space:nowrap;vertical-align:bottom;text-align:right;">6.71</td> <td style="padding-bottom:3pt ;BORDER-RIGHT:0.75pt solid #7fb8e6;white-space:nowrap;vertical-align:bottom;">% </td> <td style="vertical-align:bottom;">    </td> <td style="padding-bottom:3pt ;white-space:nowrap;vertical-align:bottom;"> </td> <td style="padding-bottom:3pt ;white-space:nowrap;vertical-align:bottom;text-align:right;">(0.13</td> <td style="padding-bottom:3pt ;white-space:nowrap;vertical-align:bottom;">)% </td> <td style=" BORDER-LEFT:0.75pt solid #7fb8e6;vertical-align:bottom;">    </td> <td style="padding-bottom:3pt ;white-space:nowrap;vertical-align:bottom;"> </td> <td style="padding-bottom:3pt ;white-space:nowrap;vertical-align:bottom;text-align:right;">1.48</td> <td style="padding-bottom:3pt ;BORDER-RIGHT:0.75pt solid #7fb8e6; padding-right:2pt;white-space:nowrap;vertical-align:bottom;">% </td> </tr> <tr style="font-size:1pt"> <td style="BORDER-LEFT:0.75pt solid #7fb8e6; BORDER-TOP:0.75pt solid #7fb8e6; padding-left:8pt;height:3pt;"> </td> <td colspan="4" style="BORDER-LEFT:0.75pt solid #7fb8e6; BORDER-TOP:0.75pt solid #7fb8e6; BORDER-RIGHT:0.75pt solid #7fb8e6;height:3pt;"> </td> <td colspan="4" style="BORDER-TOP:0.75pt solid #7fb8e6;height:3pt;"> </td> <td colspan="4" style="BORDER-LEFT:0.75pt solid #7fb8e6; BORDER-TOP:0.75pt solid #7fb8e6; BORDER-RIGHT:0.75pt solid #7fb8e6;height:3pt;"> </td> </tr> <tr style="page-break-inside:avoid;font-family:arial;font-size:8pt"> <td style="padding-bottom:3pt ;BORDER-LEFT:0.75pt solid #7fb8e6; padding-left:8pt;vertical-align:top;"> <div style="margin-top:0pt;margin-bottom:0pt;margin-left:1.00em;text-indent:-1.00em;font-size:8pt;font-family:arial;">Class A Shares at maximum sales charge (Offering Price)</div></td> <td style=" BORDER-LEFT:0.75pt solid #7fb8e6;vertical-align:bottom;">    </td> <td style="padding-bottom:3pt ;white-space:nowrap;vertical-align:bottom;"> </td> <td style="padding-bottom:3pt ;white-space:nowrap;vertical-align:bottom;text-align:right;">2.19</td> <td style="padding-bottom:3pt ;BORDER-RIGHT:0.75pt solid #7fb8e6;white-space:nowrap;vertical-align:bottom;">% </td> <td style="vertical-align:bottom;">    </td> <td style="padding-bottom:3pt ;white-space:nowrap;vertical-align:bottom;"> </td> <td style="padding-bottom:3pt ;white-space:nowrap;vertical-align:bottom;text-align:right;">(0.98</td> <td style="padding-bottom:3pt ;white-space:nowrap;vertical-align:bottom;">)% </td> <td style=" BORDER-LEFT:0.75pt solid #7fb8e6;vertical-align:bottom;">    </td> <td style="padding-bottom:3pt ;white-space:nowrap;vertical-align:bottom;"> </td> <td style="padding-bottom:3pt ;white-space:nowrap;vertical-align:bottom;text-align:right;">1.05</td> <td style="padding-bottom:3pt ;BORDER-RIGHT:0.75pt solid #7fb8e6; padding-right:2pt;white-space:nowrap;vertical-align:bottom;">% </td> </tr> <tr style="font-size:1pt"> <td style="BORDER-LEFT:0.75pt solid #7fb8e6; BORDER-TOP:0.75pt solid #7fb8e6; padding-left:8pt;height:3pt;"> </td> <td colspan="4" style="BORDER-LEFT:0.75pt solid #7fb8e6; BORDER-TOP:0.75pt solid #7fb8e6; BORDER-RIGHT:0.75pt solid #7fb8e6;height:3pt;"> </td> <td colspan="4" style="BORDER-TOP:0.75pt solid #7fb8e6;height:3pt;"> </td> <td colspan="4" style="BORDER-LEFT:0.75pt solid #7fb8e6; BORDER-TOP:0.75pt solid #7fb8e6; BORDER-RIGHT:0.75pt solid #7fb8e6;height:3pt;"> </td> </tr> <tr style="page-break-inside:avoid;font-family:arial;font-size:8pt"> <td style="padding-bottom:3pt ;BORDER-LEFT:0.75pt solid #7fb8e6; padding-left:8pt;vertical-align:top;"> <div style="margin-top:0pt;margin-bottom:0pt;margin-left:1.00em;text-indent:-1.00em;font-size:8pt;font-family:arial;">S&amp;P Municipal Bond Index</div></td> <td style=" BORDER-LEFT:0.75pt solid #7fb8e6;vertical-align:bottom;">    </td> <td style="padding-bottom:3pt ;white-space:nowrap;vertical-align:bottom;"> </td> <td style="padding-bottom:3pt ;white-space:nowrap;vertical-align:bottom;text-align:right;">6.57</td> <td style="padding-bottom:3pt ;BORDER-RIGHT:0.75pt solid #7fb8e6;white-space:nowrap;vertical-align:bottom;">% </td> <td style="vertical-align:bottom;">    </td> <td style="padding-bottom:3pt ;white-space:nowrap;vertical-align:bottom;"> </td> <td style="padding-bottom:3pt ;white-space:nowrap;vertical-align:bottom;text-align:right;">1.14</td> <td style="padding-bottom:3pt ;white-space:nowrap;vertical-align:bottom;">% </td> <td style=" BORDER-LEFT:0.75pt solid #7fb8e6;vertical-align:bottom;">    </td> <td style="padding-bottom:3pt ;white-space:nowrap;vertical-align:bottom;"> </td> <td style="padding-bottom:3pt ;white-space:nowrap;vertical-align:bottom;text-align:right;">2.30</td> <td style="padding-bottom:3pt ;BORDER-RIGHT:0.75pt solid #7fb8e6; padding-right:2pt;white-space:nowrap;vertical-align:bottom;">% </td> </tr> <tr style="font-size:1pt"> <td style="BORDER-LEFT:0.75pt solid #7fb8e6; BORDER-TOP:0.75pt solid #7fb8e6; padding-left:8pt;height:3pt;"> </td> <td colspan="4" style="BORDER-LEFT:0.75pt solid #7fb8e6; BORDER-TOP:0.75pt solid #7fb8e6; BORDER-RIGHT:0.75pt solid #7fb8e6;height:3pt;"> </td> <td colspan="4" style="BORDER-TOP:0.75pt solid #7fb8e6;height:3pt;"> </td> <td colspan="4" style="BORDER-LEFT:0.75pt solid #7fb8e6; BORDER-TOP:0.75pt solid #7fb8e6; BORDER-RIGHT:0.75pt solid #7fb8e6;height:3pt;"> </td> </tr> <tr style="page-break-inside:avoid;font-family:arial;font-size:8pt"> <td style="padding-bottom:3pt ;BORDER-LEFT:0.75pt solid #7fb8e6; padding-left:8pt;vertical-align:top;"> <div style="margin-top:0pt;margin-bottom:0pt;margin-left:1.00em;text-indent:-1.00em;font-size:8pt;font-family:arial;">S&amp;P Municipal Bond Michigan Index</div></td> <td style=" BORDER-LEFT:0.75pt solid #7fb8e6;vertical-align:bottom;">    </td> <td style="padding-bottom:3pt ;white-space:nowrap;vertical-align:bottom;"> </td> <td style="padding-bottom:3pt ;white-space:nowrap;vertical-align:bottom;text-align:right;">6.36</td> <td style="padding-bottom:3pt ;BORDER-RIGHT:0.75pt solid #7fb8e6;white-space:nowrap;vertical-align:bottom;">% </td> <td style="vertical-align:bottom;">    </td> <td style="padding-bottom:3pt ;white-space:nowrap;vertical-align:bottom;"> </td> <td style="padding-bottom:3pt ;white-space:nowrap;vertical-align:bottom;text-align:right;">1.12</td> <td style="padding-bottom:3pt ;white-space:nowrap;vertical-align:bottom;">% </td> <td style=" BORDER-LEFT:0.75pt solid #7fb8e6;vertical-align:bottom;">    </td> <td style="padding-bottom:3pt ;white-space:nowrap;vertical-align:bottom;"> </td> <td style="padding-bottom:3pt ;white-space:nowrap;vertical-align:bottom;text-align:right;">2.47</td> <td style="padding-bottom:3pt ;BORDER-RIGHT:0.75pt solid #7fb8e6; padding-right:2pt;white-space:nowrap;vertical-align:bottom;">% </td> </tr> <tr style="font-size:1pt"> <td style="BORDER-LEFT:0.75pt solid #7fb8e6; BORDER-TOP:0.75pt solid #7fb8e6; padding-left:8pt;height:3pt;"> </td> <td colspan="4" style="BORDER-LEFT:0.75pt solid #7fb8e6; BORDER-TOP:0.75pt solid #7fb8e6; BORDER-RIGHT:0.75pt solid #7fb8e6;height:3pt;"> </td> <td colspan="4" style="BORDER-TOP:0.75pt solid #7fb8e6;height:3pt;"> </td> <td colspan="4" style="BORDER-LEFT:0.75pt solid #7fb8e6; BORDER-TOP:0.75pt solid #7fb8e6; BORDER-RIGHT:0.75pt solid #7fb8e6;height:3pt;"> </td> </tr> <tr style="page-break-inside:avoid;font-family:arial;font-size:8pt"> <td style="padding-bottom:3pt ;BORDER-LEFT:0.75pt solid #7fb8e6; BORDER-BOTTOM:0.75pt solid #7fb8e6; padding-left:8pt;vertical-align:top;"> <div style="margin-top:0pt;margin-bottom:0pt;margin-left:1.00em;text-indent:-1.00em;font-size:8pt;font-family:arial;">Lipper Other States Municipal Debt Funds Classification Average</div></td> <td style=" BORDER-LEFT:0.75pt solid #7fb8e6; BORDER-BOTTOM:0.75pt solid #7fb8e6;vertical-align:bottom;">    </td> <td style="padding-bottom:3pt ;BORDER-BOTTOM:0.75pt solid #7fb8e6;white-space:nowrap;vertical-align:bottom;"> </td> <td style="padding-bottom:3pt ;BORDER-BOTTOM:0.75pt solid #7fb8e6;white-space:nowrap;vertical-align:bottom;text-align:right;">7.08</td> <td style="padding-bottom:3pt ;BORDER-RIGHT:0.75pt solid #7fb8e6; BORDER-BOTTOM:0.75pt solid #7fb8e6;white-space:nowrap;vertical-align:bottom;">% </td> <td style=" BORDER-BOTTOM:0.75pt solid #7fb8e6;vertical-align:bottom;">    </td> <td style="padding-bottom:3pt ;BORDER-BOTTOM:0.75pt solid #7fb8e6;white-space:nowrap;vertical-align:bottom;"> </td> <td style="padding-bottom:3pt ;BORDER-BOTTOM:0.75pt solid #7fb8e6;white-space:nowrap;vertical-align:bottom;text-align:right;">0.43</td> <td style="padding-bottom:3pt ;BORDER-BOTTOM:0.75pt solid #7fb8e6;white-space:nowrap;vertical-align:bottom;">% </td> <td style=" BORDER-LEFT:0.75pt solid #7fb8e6; BORDER-BOTTOM:0.75pt solid #7fb8e6;vertical-align:bottom;">    </td> <td style="padding-bottom:3pt ;BORDER-BOTTOM:0.75pt solid #7fb8e6;white-space:nowrap;vertical-align:bottom;"> </td> <td style="padding-bottom:3pt ;BORDER-BOTTOM:0.75pt solid #7fb8e6;white-space:nowrap;vertical-align:bottom;text-align:right;">1.54</td> <td style="padding-bottom:3pt ;BORDER-RIGHT:0.75pt solid #7fb8e6; BORDER-BOTTOM:0.75pt solid #7fb8e6; padding-right:2pt;white-space:nowrap;vertical-align:bottom;">% </td> </tr> </table> Class A Shares at NAV (excluding maximum sales charge) 0.0671 -0.0013 0.0148 Class A Shares at maximum sales charge (Offering Price) 0.0219 -0.0098 0.0105 S&P Municipal Bond Index 0.0657 0.0114 0.0230 S&P Municipal Bond Michigan Index 0.0636 0.0112 0.0247 Lipper Other States Municipal Debt Funds Classification Average 0.0708 0.0043 0.0154 For most recent month-end performance, go to https://www.nuveen.com/en-us/mutual-funds/prospectuses or call (800) 257‑8787. <div style="margin-top:0pt;margin-bottom:0pt;margin-left:2%;font-size:11pt;font-family:arial;"><span style="color:#0071ce"><span style="font-weight:bold">Fund Statistics (as of May 31, 2026) </span></span></div> <table cellpadding="0" cellspacing="0" style="border-collapse:collapse;font-family:arial;font-size:8pt;width:96%;border-spacing:0px;margin:0 auto"> <tr> <td style="width:87%;"></td> <td style="vertical-align:bottom;width:2%;"></td> <td></td> <td></td> <td style="vertical-align:bottom;width:2%;"></td> </tr> <tr style="font-size:1pt"> <td style="height:3pt;"></td> <td colspan="4" style="height:3pt;"></td> </tr> <tr style="page-break-inside:avoid;font-family:arial;font-size:8pt"> <td style="padding-bottom:3pt ;BORDER-BOTTOM:0.75pt solid #7fb8e6;vertical-align:top;"> <div style="margin-top:0pt;margin-bottom:0pt;margin-left:1.00em;text-indent:-1.00em;font-size:8pt;font-family:arial;">Fund net assets</div></td> <td style=" BORDER-BOTTOM:0.75pt solid #7fb8e6;vertical-align:bottom;">  </td> <td style="padding-bottom:3pt ;BORDER-BOTTOM:0.75pt solid #7fb8e6;white-space:nowrap;vertical-align:bottom;">$</td> <td style="padding-bottom:3pt ;BORDER-BOTTOM:0.75pt solid #7fb8e6;white-space:nowrap;vertical-align:bottom;text-align:right;">217,545,018</td> <td style="padding-bottom:3pt ;BORDER-BOTTOM:0.75pt solid #7fb8e6;white-space:nowrap;vertical-align:bottom;"> </td> </tr> <tr style="font-size:1pt"> <td style="height:3pt;"></td> <td colspan="4" style="height:3pt;"></td> </tr> <tr style="page-break-inside:avoid;font-family:arial;font-size:8pt"> <td style="padding-bottom:3pt ;BORDER-BOTTOM:0.75pt solid #7fb8e6;vertical-align:top;"> <div style="margin-top:0pt;margin-bottom:0pt;margin-left:1.00em;text-indent:-1.00em;font-size:8pt;font-family:arial;">Total number of portfolio holdings</div></td> <td style=" BORDER-BOTTOM:0.75pt solid #7fb8e6;vertical-align:bottom;">  </td> <td style="padding-bottom:3pt ;BORDER-BOTTOM:0.75pt solid #7fb8e6;white-space:nowrap;vertical-align:bottom;"> </td> <td style="padding-bottom:3pt ;BORDER-BOTTOM:0.75pt solid #7fb8e6;white-space:nowrap;vertical-align:bottom;text-align:right;">120</td> <td style="padding-bottom:3pt ;BORDER-BOTTOM:0.75pt solid #7fb8e6;white-space:nowrap;vertical-align:bottom;"> </td> </tr> <tr style="font-size:1pt"> <td style="height:3pt;"></td> <td colspan="4" style="height:3pt;"></td> </tr> <tr style="page-break-inside:avoid;font-family:arial;font-size:8pt"> <td style="padding-bottom:3pt ;BORDER-BOTTOM:0.75pt solid #7fb8e6;vertical-align:top;"> <div style="margin-top:0pt;margin-bottom:0pt;margin-left:1.00em;text-indent:-1.00em;font-size:8pt;font-family:arial;">Portfolio turnover (%)</div></td> <td style=" BORDER-BOTTOM:0.75pt solid #7fb8e6;vertical-align:bottom;">  </td> <td style="padding-bottom:3pt ;BORDER-BOTTOM:0.75pt solid #7fb8e6;white-space:nowrap;vertical-align:bottom;"> </td> <td style="padding-bottom:3pt ;BORDER-BOTTOM:0.75pt solid #7fb8e6;white-space:nowrap;vertical-align:bottom;text-align:right;">19%</td> <td style="padding-bottom:3pt ;BORDER-BOTTOM:0.75pt solid #7fb8e6;white-space:nowrap;vertical-align:bottom;"> </td> </tr> <tr style="font-size:1pt"> <td style="height:3pt;"></td> <td colspan="4" style="height:3pt;"></td> </tr> <tr style="page-break-inside:avoid;font-family:arial;font-size:8pt"> <td style="padding-bottom:3pt ;BORDER-BOTTOM:0.75pt solid #7fb8e6;vertical-align:top;"> <div style="margin-top:0pt;margin-bottom:0pt;margin-left:1.00em;text-indent:-1.00em;font-size:8pt;font-family:arial;">Total management fees paid for the year</div></td> <td style=" BORDER-BOTTOM:0.75pt solid #7fb8e6;vertical-align:bottom;">  </td> <td style="padding-bottom:3pt ;BORDER-BOTTOM:0.75pt solid #7fb8e6;white-space:nowrap;vertical-align:bottom;">$</td> <td style="padding-bottom:3pt ;BORDER-BOTTOM:0.75pt solid #7fb8e6;white-space:nowrap;vertical-align:bottom;text-align:right;">977,391</td> <td style="padding-bottom:3pt ;BORDER-BOTTOM:0.75pt solid #7fb8e6;white-space:nowrap;vertical-align:bottom;"> </td> </tr> </table> 217545018 120 0.19 977391 <table cellpadding="0" cellspacing="0" style="border-collapse:collapse;font-family:arial;font-size:9pt;width:100%;border-spacing:0px;margin:0 auto"> <tr> <td style="width:50%;"></td> <td style="vertical-align:bottom;width:1%;"></td> <td style="width:49%;"></td> </tr> <tr style="page-break-inside:avoid;font-family:arial;font-size:9pt"> <td style="vertical-align:top;"> <div style="margin-top:0pt;margin-bottom:0pt;margin-left:1.11em;margin-right:1.11em;"> <img alt="LOGO" src="g133061g93v03.jpg"/> </div></td> <td style="vertical-align:bottom;"> </td> <td style="vertical-align:top;"> <div style="margin-top:0pt;margin-bottom:0pt;margin-left:1.11em;margin-right:1.11em;"> <img alt="LOGO" src="g133061g94y23.jpg"/> </div></td> </tr> </table> <table cellpadding="0" cellspacing="0" style="border-collapse:collapse;font-family:arial;font-size:8pt;border-spacing:0px;width:100%"> <tr style="page-break-inside:avoid"> <td style="width:1%;"> </td> <td style="width:4%;vertical-align:top;text-align:left;">(1)</td> <td style="vertical-align:top;text-align:left;"> <div style="margin-top:0pt;margin-bottom:0pt;font-size:8pt;font-family:arial;text-align:left;">The ratings disclosed are the highest rating given by one of the following national rating agencies: Standard &amp; Poor’s (S&amp;P), Moody’s Investors Service, Inc. (Moody’s) or Fitch, Inc (Fitch). This treatment of split-rated securities may differ from that used for other purposes, such as for Fund investment policies. Credit ratings are subject to change. AAA, AA, A, and BBB are investment grade ratings; BB, B, CCC, CC, C and D are below-investment grade ratings. Holdings designated N/R are not rated by these national ratings agencies. </div></td> </tr></table> The ratings disclosed are the highest rating given by one of the following national rating agencies: Standard &amp; Poor’s (S&amp;P), Moody’s Investors Service, Inc. (Moody’s) or Fitch, Inc (Fitch). This treatment of split-rated securities may differ from that used for other purposes, such as for Fund investment policies. Credit ratings are subject to change. AAA, AA, A, and BBB are investment grade ratings; BB, B, CCC, CC, C and D are below-investment grade ratings. Holdings designated N/R are not rated by these national ratings agencies. <div style="margin-top:0pt;margin-bottom:0pt;margin-left:2%;font-size:11pt;font-family:arial;"><span style="color:#0071ce"><span style="font-weight:bold">How has the Fund changed? </span></span></div><div style="margin-top:6pt;margin-bottom:0pt;margin-left:2%;font-size:9pt;font-family:arial;font-weight:bold;">For more complete information, you may review the Fund’s next prospectus, which is expected to be available by September 30, 2026 at https://www.nuveen.com/en-us/mutual-funds/prospectuses or upon request at (800) 257-8787.</div> For more complete information, you may review the Fund’s next prospectus, which is expected to be available by September 30, 2026 at https://www.nuveen.com/en-us/mutual-funds/prospectuses or upon request at (800) 257-8787. https://www.nuveen.com/en-us/mutual-funds/prospectuses (800) 257-8787 Nuveen Michigan Municipal Bond Fund Class C Shares FAFNX This annual shareholder report contains important information about the Class C Shares of the Nuveen Michigan Municipal Bond Fund for the period of June 1, 2025 to May 31, 2026. annual shareholder report You can find additional information at https://www.nuveen.com/en-us/mutual-funds/prospectuses. You can also request this information by contacting us at (800) 257-8787. https://www.nuveen.com/en-us/mutual-funds/prospectuses (800) 257-8787 <div style="margin-top:18pt;margin-bottom:0pt;margin-left:2%;margin-right:2%;font-size:9pt;font-family:arial;font-weight:bold;">This report describes changes to the Fund that occurred during the reporting period. </div> <div style="margin-top:0pt;margin-bottom:0pt;margin-left:2%;font-size:11pt;font-family:arial;"><span style="color:#0071ce"><span style="font-weight:bold">What were the Fund costs for the last year? </span></span><span style="font-family:arial">(based on a hypothetical $10,000 investment)</span><span style="font-family:arial;color:#0071ce"><span style="font-weight:bold"> </span></span></div> <table cellpadding="0" cellspacing="0" style="border-collapse:collapse;font-family:arial;font-size:8pt;width:96%;border-spacing:0px;margin:0 auto"> <tr> <td style="width:33%;"></td> <td style="vertical-align:bottom;"></td> <td style="width:33%;"></td> <td style="vertical-align:bottom;"></td> <td style="width:32%;"></td> </tr> <tr style="font-size:1pt"> <td style="height:3pt;"></td> <td colspan="2" style="BORDER-LEFT:0.75pt solid #7fb8e6; BORDER-TOP:0.75pt solid #7fb8e6;height:3pt;"> </td> <td colspan="2" style="BORDER-LEFT:0.75pt solid #7fb8e6; BORDER-TOP:0.75pt solid #7fb8e6; BORDER-RIGHT:0.75pt solid #7fb8e6;height:3pt;"> </td> </tr> <tr style="page-break-inside:avoid;font-family:arial;font-size:8pt"> <td style="vertical-align:bottom;"> </td> <td style=" BORDER-LEFT:0.75pt solid #7fb8e6;vertical-align:bottom;"> </td> <td style="padding-bottom:3pt ;vertical-align:middle;text-align:right;"><span style="font-weight:bold">Cost of a $10,000 investment </span></td> <td style=" BORDER-LEFT:0.75pt solid #7fb8e6;vertical-align:bottom;"> </td> <td style="padding-bottom:3pt ;BORDER-RIGHT:0.75pt solid #7fb8e6; padding-right:2pt;vertical-align:bottom;text-align:right;"><span style="font-weight:bold">Costs paid as a percentage of<br/> $10,000 investment*</span></td> </tr> <tr style="font-size:1pt"> <td style="BORDER-LEFT:0.75pt solid #7fb8e6; BORDER-TOP:0.75pt solid #7fb8e6; padding-left:8pt;height:3pt;"> </td> <td colspan="2" style="BORDER-LEFT:0.75pt solid #7fb8e6; BORDER-TOP:0.75pt solid #7fb8e6;height:3pt;"> </td> <td colspan="2" style="BORDER-LEFT:0.75pt solid #7fb8e6; BORDER-TOP:0.75pt solid #7fb8e6; BORDER-RIGHT:0.75pt solid #7fb8e6;height:3pt;"> </td> </tr> <tr style="page-break-inside:avoid;font-family:arial;font-size:8pt"> <td style="padding-bottom:3pt ;BORDER-LEFT:0.75pt solid #7fb8e6; BORDER-BOTTOM:0.75pt solid #7fb8e6; padding-left:8pt;vertical-align:top;"> <div style="margin-top:0pt;margin-bottom:0pt;margin-left:1.00em;text-indent:-1.00em;font-size:8pt;font-family:arial;">Class C Shares</div></td> <td style=" BORDER-LEFT:0.75pt solid #7fb8e6; BORDER-BOTTOM:0.75pt solid #7fb8e6;vertical-align:bottom;"> </td> <td style="padding-bottom:3pt ;BORDER-BOTTOM:0.75pt solid #7fb8e6;vertical-align:bottom;white-space:nowrap;text-align:right;">$167 </td> <td style=" BORDER-LEFT:0.75pt solid #7fb8e6; BORDER-BOTTOM:0.75pt solid #7fb8e6;vertical-align:bottom;"> </td> <td style="padding-bottom:3pt ;BORDER-RIGHT:0.75pt solid #7fb8e6; BORDER-BOTTOM:0.75pt solid #7fb8e6; padding-right:2pt;vertical-align:bottom;white-space:nowrap;text-align:right;">1.62%</td> </tr> </table> <table cellpadding="0" cellspacing="0" style="border-collapse:collapse;font-family:arial;font-size:8pt;border-spacing:0px;width:100%"> <tr style="page-break-inside:avoid"> <td style="width:3%;"> </td> <td style="width:1%;vertical-align:top;text-align:right;">*</td> <td style="width:1%;vertical-align:top;"> </td> <td style="vertical-align:top;text-align:left;"> <div style="margin-top:0pt;margin-bottom:0pt;font-family:arial;font-size:8pt;text-align:justify;">Annualized for period less than one year. </div></td> <td style="width:2%;"> </td> </tr></table> 167 0.0162 <div style="margin-top:0pt;margin-bottom:0pt;margin-left:2%;font-size:11pt;font-family:arial;"><span style="color:#0071ce"><span style="font-weight:bold">How did the Fund perform last year? What affected the Fund’s performance? </span></span></div> <table cellpadding="0" cellspacing="0" style="border-collapse:collapse;font-family:arial;font-size:9pt;width:96%;border-spacing:0px;margin:0 auto"> <tr> <td style="width:100%;"></td> </tr> <tr style="page-break-inside:avoid;font-family:arial;font-size:9pt"> <td style="vertical-align:top;"> <div style="margin-top:0pt;margin-bottom:0pt;font-size:9pt;font-family:arial;font-weight:bold;">Performance Highlights</div> <div style="font-size:6pt;margin-top:0pt;margin-bottom:0pt;"> </div> <div style="margin-top:0pt;margin-bottom:0pt;margin-right:1.11em;font-size:9pt;font-family:arial;">The Nuveen Michigan Municipal Bond Fund returned 5.87% for Class C Shares at net asset value (NAV) for the 12 months ended May 31, 2026. The Fund underperformed the S&amp;P Municipal Bond Michigan Index, which returned 6.36%.</div> <div style="font-size:6pt;margin-top:0pt;margin-bottom:0pt;"> </div> <div style="margin-top:0pt;margin-bottom:0pt;margin-right:1.11em;font-size:9pt;font-family:arial;">Top contributors to relative performance</div> <div style="font-size:6pt;margin-top:0pt;margin-bottom:0pt;"> </div> <div style="margin-top:0pt;margin-bottom:0pt;margin-right:1.67em;display:table-row;"> <div style="display:table-cell;"> <div style="margin-top:0pt;margin-bottom:0pt;margin-left:2.222222em;font-family:arial;">•</div></div> <div style="display:table-cell;"> <div style="margin-top:0pt;margin-bottom:0pt;margin-left:0.538889em;font-family:arial;">Duration positioning, especially an overweight to longer-duration bonds and an underweight to shorter-duration bonds.</div></div></div> <div style="font-size:6pt;margin-top:0pt;margin-bottom:0pt;"> </div> <div style="margin-top:0pt;margin-bottom:0pt;margin-right:1.67em;display:table-row;"> <div style="display:table-cell;"> <div style="margin-top:0pt;margin-bottom:0pt;margin-left:2.222222em;font-family:arial;">•</div></div> <div style="display:table-cell;"> <div style="margin-top:0pt;margin-bottom:0pt;margin-left:0.538889em;font-family:arial;">Credit quality positioning, especially an overweight to non-rated bonds.</div></div></div> <div style="font-size:6pt;margin-top:0pt;margin-bottom:0pt;"> </div> <div style="margin-top:0pt;margin-bottom:0pt;margin-right:1.67em;display:table-row;"> <div style="display:table-cell;"> <div style="margin-top:0pt;margin-bottom:0pt;margin-left:2.222222em;font-family:arial;">•</div></div> <div style="display:table-cell;"> <div style="margin-top:0pt;margin-bottom:0pt;margin-left:0.538889em;font-family:arial;">An overweight to the dedicated-tax bond sector.</div></div></div> <div style="font-size:6pt;margin-top:0pt;margin-bottom:0pt;"> </div> <div style="margin-top:0pt;margin-bottom:0pt;margin-right:1.11em;font-size:9pt;font-family:arial;">Top detractors from relative performance</div> <div style="font-size:6pt;margin-top:0pt;margin-bottom:0pt;"> </div> <div style="margin-top:0pt;margin-bottom:0pt;margin-right:1.67em;display:table-row;"> <div style="display:table-cell;"> <div style="margin-top:0pt;margin-bottom:0pt;margin-left:2.222222em;font-family:arial;">•</div></div> <div style="display:table-cell;"> <div style="margin-top:0pt;margin-bottom:0pt;margin-left:0.538889em;font-family:arial;">Sector allocation, especially an overweight to utility bonds.</div></div></div></td> </tr> </table> Performance data shown represents past performance and does not predict or guarantee future results. The<span style="font-weight:bold"> </span>graph and table do not reflect the deduction of taxes that a shareholder would pay on Fund distributions or redemption of Fund Shares. <div style="margin-top:0pt;margin-bottom:0pt;margin-left:2%;margin-right:2%;"> <img alt="LOGO" src="g133061g99a23.jpg"/> </div> <div style="margin-top:0pt;margin-bottom:0pt;margin-left:2%;margin-right:2%;font-size:9pt;font-family:arial;font-weight:bold;">Average Annual Total Returns </div> <table cellpadding="0" cellspacing="0" style="border-collapse:collapse;font-family:arial;font-size:8pt;width:96%;border-spacing:0px;margin:0 auto"> <tr> <td style="width:64%;"></td> <td style="vertical-align:bottom;width:6%;"></td> <td></td> <td></td> <td style="vertical-align:bottom;width:3%;"></td> <td style="vertical-align:bottom;width:6%;"></td> <td></td> <td></td> <td style="vertical-align:bottom;width:3%;"></td> <td style="vertical-align:bottom;width:6%;"></td> <td></td> <td></td> <td style="vertical-align:bottom;width:3%;"></td> </tr> <tr style="font-size:1pt"> <td style="height:3pt;"></td> <td colspan="4" style="BORDER-LEFT:0.75pt solid #7fb8e6; BORDER-TOP:0.75pt solid #7fb8e6; BORDER-RIGHT:0.75pt solid #7fb8e6;height:3pt;"> </td> <td colspan="4" style="BORDER-TOP:0.75pt solid #7fb8e6;height:3pt;"> </td> <td colspan="4" style="BORDER-LEFT:0.75pt solid #7fb8e6; BORDER-TOP:0.75pt solid #7fb8e6; BORDER-RIGHT:0.75pt solid #7fb8e6;height:3pt;"> </td> </tr> <tr style="page-break-inside:avoid;font-family:arial;font-size:8pt"> <td style="vertical-align:top;"> </td> <td style=" BORDER-LEFT:0.75pt solid #7fb8e6;vertical-align:bottom;">    </td> <td colspan="2" style="padding-bottom:3pt ;vertical-align:bottom;white-space:nowrap;text-align:center;"><span style="font-weight:bold">1-Year</span></td> <td style=" BORDER-RIGHT:0.75pt solid #7fb8e6;vertical-align:bottom;"> </td> <td style="vertical-align:bottom;">    </td> <td colspan="2" style="padding-bottom:3pt ;vertical-align:bottom;white-space:nowrap;text-align:center;"><span style="font-weight:bold">5-Year</span></td> <td style="vertical-align:bottom;"> </td> <td style=" BORDER-LEFT:0.75pt solid #7fb8e6;vertical-align:bottom;">    </td> <td colspan="2" style="padding-bottom:3pt ;vertical-align:bottom;white-space:nowrap;text-align:center;"><span style="font-weight:bold">10-Year</span></td> <td style=" BORDER-RIGHT:0.75pt solid #7fb8e6; padding-right:2pt;vertical-align:bottom;"> </td> </tr> <tr style="font-size:1pt"> <td style="BORDER-LEFT:0.75pt solid #7fb8e6; BORDER-TOP:0.75pt solid #7fb8e6; padding-left:8pt;height:3pt;"> </td> <td colspan="4" style="BORDER-LEFT:0.75pt solid #7fb8e6; BORDER-TOP:0.75pt solid #7fb8e6; BORDER-RIGHT:0.75pt solid #7fb8e6;height:3pt;"> </td> <td colspan="4" style="BORDER-TOP:0.75pt solid #7fb8e6;height:3pt;"> </td> <td colspan="4" style="BORDER-LEFT:0.75pt solid #7fb8e6; BORDER-TOP:0.75pt solid #7fb8e6; BORDER-RIGHT:0.75pt solid #7fb8e6;height:3pt;"> </td> </tr> <tr style="page-break-inside:avoid;font-family:arial;font-size:8pt"> <td style="padding-bottom:3pt ;BORDER-LEFT:0.75pt solid #7fb8e6; padding-left:8pt;vertical-align:top;"> <div style="margin-top:0pt;margin-bottom:0pt;margin-left:1.00em;text-indent:-1.00em;font-size:8pt;font-family:arial;">Class C Shares at NAV (excluding maximum sales charge)</div></td> <td style=" BORDER-LEFT:0.75pt solid #7fb8e6;vertical-align:bottom;">    </td> <td style="padding-bottom:3pt ;white-space:nowrap;vertical-align:bottom;"> </td> <td style="padding-bottom:3pt ;white-space:nowrap;vertical-align:bottom;text-align:right;">5.87</td> <td style="padding-bottom:3pt ;BORDER-RIGHT:0.75pt solid #7fb8e6;white-space:nowrap;vertical-align:bottom;">% </td> <td style="vertical-align:bottom;">    </td> <td style="padding-bottom:3pt ;white-space:nowrap;vertical-align:bottom;"> </td> <td style="padding-bottom:3pt ;white-space:nowrap;vertical-align:bottom;text-align:right;">(0.92</td> <td style="padding-bottom:3pt ;white-space:nowrap;vertical-align:bottom;">)% </td> <td style=" BORDER-LEFT:0.75pt solid #7fb8e6;vertical-align:bottom;">    </td> <td style="padding-bottom:3pt ;white-space:nowrap;vertical-align:bottom;"> </td> <td style="padding-bottom:3pt ;white-space:nowrap;vertical-align:bottom;text-align:right;">0.83</td> <td style="padding-bottom:3pt ;BORDER-RIGHT:0.75pt solid #7fb8e6; padding-right:2pt;white-space:nowrap;vertical-align:bottom;">% </td> </tr> <tr style="font-size:1pt"> <td style="BORDER-LEFT:0.75pt solid #7fb8e6; BORDER-TOP:0.75pt solid #7fb8e6; padding-left:8pt;height:3pt;"> </td> <td colspan="4" style="BORDER-LEFT:0.75pt solid #7fb8e6; BORDER-TOP:0.75pt solid #7fb8e6; BORDER-RIGHT:0.75pt solid #7fb8e6;height:3pt;"> </td> <td colspan="4" style="BORDER-TOP:0.75pt solid #7fb8e6;height:3pt;"> </td> <td colspan="4" style="BORDER-LEFT:0.75pt solid #7fb8e6; BORDER-TOP:0.75pt solid #7fb8e6; BORDER-RIGHT:0.75pt solid #7fb8e6;height:3pt;"> </td> </tr> <tr style="page-break-inside:avoid;font-family:arial;font-size:8pt"> <td style="padding-bottom:3pt ;BORDER-LEFT:0.75pt solid #7fb8e6; padding-left:8pt;vertical-align:top;"> <div style="margin-top:0pt;margin-bottom:0pt;margin-left:1.00em;text-indent:-1.00em;font-size:8pt;font-family:arial;">S&amp;P Municipal Bond Index</div></td> <td style=" BORDER-LEFT:0.75pt solid #7fb8e6;vertical-align:bottom;">    </td> <td style="padding-bottom:3pt ;white-space:nowrap;vertical-align:bottom;"> </td> <td style="padding-bottom:3pt ;white-space:nowrap;vertical-align:bottom;text-align:right;">6.57</td> <td style="padding-bottom:3pt ;BORDER-RIGHT:0.75pt solid #7fb8e6;white-space:nowrap;vertical-align:bottom;">% </td> <td style="vertical-align:bottom;">    </td> <td style="padding-bottom:3pt ;white-space:nowrap;vertical-align:bottom;"> </td> <td style="padding-bottom:3pt ;white-space:nowrap;vertical-align:bottom;text-align:right;">1.14</td> <td style="padding-bottom:3pt ;white-space:nowrap;vertical-align:bottom;">% </td> <td style=" BORDER-LEFT:0.75pt solid #7fb8e6;vertical-align:bottom;">    </td> <td style="padding-bottom:3pt ;white-space:nowrap;vertical-align:bottom;"> </td> <td style="padding-bottom:3pt ;white-space:nowrap;vertical-align:bottom;text-align:right;">2.30</td> <td style="padding-bottom:3pt ;BORDER-RIGHT:0.75pt solid #7fb8e6; padding-right:2pt;white-space:nowrap;vertical-align:bottom;">% </td> </tr> <tr style="font-size:1pt"> <td style="BORDER-LEFT:0.75pt solid #7fb8e6; BORDER-TOP:0.75pt solid #7fb8e6; padding-left:8pt;height:3pt;"> </td> <td colspan="4" style="BORDER-LEFT:0.75pt solid #7fb8e6; BORDER-TOP:0.75pt solid #7fb8e6; BORDER-RIGHT:0.75pt solid #7fb8e6;height:3pt;"> </td> <td colspan="4" style="BORDER-TOP:0.75pt solid #7fb8e6;height:3pt;"> </td> <td colspan="4" style="BORDER-LEFT:0.75pt solid #7fb8e6; BORDER-TOP:0.75pt solid #7fb8e6; BORDER-RIGHT:0.75pt solid #7fb8e6;height:3pt;"> </td> </tr> <tr style="page-break-inside:avoid;font-family:arial;font-size:8pt"> <td style="padding-bottom:3pt ;BORDER-LEFT:0.75pt solid #7fb8e6; padding-left:8pt;vertical-align:top;"> <div style="margin-top:0pt;margin-bottom:0pt;margin-left:1.00em;text-indent:-1.00em;font-size:8pt;font-family:arial;">S&amp;P Municipal Bond Michigan Index</div></td> <td style=" BORDER-LEFT:0.75pt solid #7fb8e6;vertical-align:bottom;">    </td> <td style="padding-bottom:3pt ;white-space:nowrap;vertical-align:bottom;"> </td> <td style="padding-bottom:3pt ;white-space:nowrap;vertical-align:bottom;text-align:right;">6.36</td> <td style="padding-bottom:3pt ;BORDER-RIGHT:0.75pt solid #7fb8e6;white-space:nowrap;vertical-align:bottom;">% </td> <td style="vertical-align:bottom;">    </td> <td style="padding-bottom:3pt ;white-space:nowrap;vertical-align:bottom;"> </td> <td style="padding-bottom:3pt ;white-space:nowrap;vertical-align:bottom;text-align:right;">1.12</td> <td style="padding-bottom:3pt ;white-space:nowrap;vertical-align:bottom;">% </td> <td style=" BORDER-LEFT:0.75pt solid #7fb8e6;vertical-align:bottom;">    </td> <td style="padding-bottom:3pt ;white-space:nowrap;vertical-align:bottom;"> </td> <td style="padding-bottom:3pt ;white-space:nowrap;vertical-align:bottom;text-align:right;">2.47</td> <td style="padding-bottom:3pt ;BORDER-RIGHT:0.75pt solid #7fb8e6; padding-right:2pt;white-space:nowrap;vertical-align:bottom;">% </td> </tr> <tr style="font-size:1pt"> <td style="BORDER-LEFT:0.75pt solid #7fb8e6; BORDER-TOP:0.75pt solid #7fb8e6; padding-left:8pt;height:3pt;"> </td> <td colspan="4" style="BORDER-LEFT:0.75pt solid #7fb8e6; BORDER-TOP:0.75pt solid #7fb8e6; BORDER-RIGHT:0.75pt solid #7fb8e6;height:3pt;"> </td> <td colspan="4" style="BORDER-TOP:0.75pt solid #7fb8e6;height:3pt;"> </td> <td colspan="4" style="BORDER-LEFT:0.75pt solid #7fb8e6; BORDER-TOP:0.75pt solid #7fb8e6; BORDER-RIGHT:0.75pt solid #7fb8e6;height:3pt;"> </td> </tr> <tr style="page-break-inside:avoid;font-family:arial;font-size:8pt"> <td style="padding-bottom:3pt ;BORDER-LEFT:0.75pt solid #7fb8e6; BORDER-BOTTOM:0.75pt solid #7fb8e6; padding-left:8pt;vertical-align:top;"> <div style="margin-top:0pt;margin-bottom:0pt;margin-left:1.00em;text-indent:-1.00em;font-size:8pt;font-family:arial;">Lipper Other States Municipal Debt Funds Classification Average</div></td> <td style=" BORDER-LEFT:0.75pt solid #7fb8e6; BORDER-BOTTOM:0.75pt solid #7fb8e6;vertical-align:bottom;">    </td> <td style="padding-bottom:3pt ;BORDER-BOTTOM:0.75pt solid #7fb8e6;white-space:nowrap;vertical-align:bottom;"> </td> <td style="padding-bottom:3pt ;BORDER-BOTTOM:0.75pt solid #7fb8e6;white-space:nowrap;vertical-align:bottom;text-align:right;">7.08</td> <td style="padding-bottom:3pt ;BORDER-RIGHT:0.75pt solid #7fb8e6; BORDER-BOTTOM:0.75pt solid #7fb8e6;white-space:nowrap;vertical-align:bottom;">% </td> <td style=" BORDER-BOTTOM:0.75pt solid #7fb8e6;vertical-align:bottom;">    </td> <td style="padding-bottom:3pt ;BORDER-BOTTOM:0.75pt solid #7fb8e6;white-space:nowrap;vertical-align:bottom;"> </td> <td style="padding-bottom:3pt ;BORDER-BOTTOM:0.75pt solid #7fb8e6;white-space:nowrap;vertical-align:bottom;text-align:right;">0.43</td> <td style="padding-bottom:3pt ;BORDER-BOTTOM:0.75pt solid #7fb8e6;white-space:nowrap;vertical-align:bottom;">% </td> <td style=" BORDER-LEFT:0.75pt solid #7fb8e6; BORDER-BOTTOM:0.75pt solid #7fb8e6;vertical-align:bottom;">    </td> <td style="padding-bottom:3pt ;BORDER-BOTTOM:0.75pt solid #7fb8e6;white-space:nowrap;vertical-align:bottom;"> </td> <td style="padding-bottom:3pt ;BORDER-BOTTOM:0.75pt solid #7fb8e6;white-space:nowrap;vertical-align:bottom;text-align:right;">1.54</td> <td style="padding-bottom:3pt ;BORDER-RIGHT:0.75pt solid #7fb8e6; BORDER-BOTTOM:0.75pt solid #7fb8e6; padding-right:2pt;white-space:nowrap;vertical-align:bottom;">% </td> </tr> </table> Class C Shares at NAV (excluding maximum sales charge) 0.0587 -0.0092 0.0083 S&P Municipal Bond Index 0.0657 0.0114 0.0230 S&P Municipal Bond Michigan Index 0.0636 0.0112 0.0247 Lipper Other States Municipal Debt Funds Classification Average 0.0708 0.0043 0.0154 For most recent month-end performance, go to https://www.nuveen.com/en-us/mutual-funds/prospectuses or call (800) 257‑8787. <div style="margin-top:0pt;margin-bottom:0pt;margin-left:2%;font-size:11pt;font-family:arial;"><span style="color:#0071ce"><span style="font-weight:bold">Fund Statistics (as of May 31, 2026) </span></span></div> <table cellpadding="0" cellspacing="0" style="border-collapse:collapse;font-family:arial;font-size:8pt;width:96%;border-spacing:0px;margin:0 auto"> <tr> <td style="width:87%;"></td> <td style="vertical-align:bottom;width:2%;"></td> <td></td> <td></td> <td style="vertical-align:bottom;width:2%;"></td> </tr> <tr style="font-size:1pt"> <td style="height:3pt;"></td> <td colspan="4" style="height:3pt;"></td> </tr> <tr style="page-break-inside:avoid;font-family:arial;font-size:8pt"> <td style="padding-bottom:3pt ;BORDER-BOTTOM:0.75pt solid #7fb8e6;vertical-align:top;"> <div style="margin-top:0pt;margin-bottom:0pt;margin-left:1.00em;text-indent:-1.00em;font-size:8pt;font-family:arial;">Fund net assets</div></td> <td style=" BORDER-BOTTOM:0.75pt solid #7fb8e6;vertical-align:bottom;">  </td> <td style="padding-bottom:3pt ;BORDER-BOTTOM:0.75pt solid #7fb8e6;white-space:nowrap;vertical-align:bottom;">$</td> <td style="padding-bottom:3pt ;BORDER-BOTTOM:0.75pt solid #7fb8e6;white-space:nowrap;vertical-align:bottom;text-align:right;">217,545,018</td> <td style="padding-bottom:3pt ;BORDER-BOTTOM:0.75pt solid #7fb8e6;white-space:nowrap;vertical-align:bottom;"> </td> </tr> <tr style="font-size:1pt"> <td style="height:3pt;"></td> <td colspan="4" style="height:3pt;"></td> </tr> <tr style="page-break-inside:avoid;font-family:arial;font-size:8pt"> <td style="padding-bottom:3pt ;BORDER-BOTTOM:0.75pt solid #7fb8e6;vertical-align:top;"> <div style="margin-top:0pt;margin-bottom:0pt;margin-left:1.00em;text-indent:-1.00em;font-size:8pt;font-family:arial;">Total number of portfolio holdings</div></td> <td style=" BORDER-BOTTOM:0.75pt solid #7fb8e6;vertical-align:bottom;">  </td> <td style="padding-bottom:3pt ;BORDER-BOTTOM:0.75pt solid #7fb8e6;white-space:nowrap;vertical-align:bottom;"> </td> <td style="padding-bottom:3pt ;BORDER-BOTTOM:0.75pt solid #7fb8e6;white-space:nowrap;vertical-align:bottom;text-align:right;">120</td> <td style="padding-bottom:3pt ;BORDER-BOTTOM:0.75pt solid #7fb8e6;white-space:nowrap;vertical-align:bottom;"> </td> </tr> <tr style="font-size:1pt"> <td style="height:3pt;"></td> <td colspan="4" style="height:3pt;"></td> </tr> <tr style="page-break-inside:avoid;font-family:arial;font-size:8pt"> <td style="padding-bottom:3pt ;BORDER-BOTTOM:0.75pt solid #7fb8e6;vertical-align:top;"> <div style="margin-top:0pt;margin-bottom:0pt;margin-left:1.00em;text-indent:-1.00em;font-size:8pt;font-family:arial;">Portfolio turnover (%)</div></td> <td style=" BORDER-BOTTOM:0.75pt solid #7fb8e6;vertical-align:bottom;">  </td> <td style="padding-bottom:3pt ;BORDER-BOTTOM:0.75pt solid #7fb8e6;white-space:nowrap;vertical-align:bottom;"> </td> <td style="padding-bottom:3pt ;BORDER-BOTTOM:0.75pt solid #7fb8e6;white-space:nowrap;vertical-align:bottom;text-align:right;">19%</td> <td style="padding-bottom:3pt ;BORDER-BOTTOM:0.75pt solid #7fb8e6;white-space:nowrap;vertical-align:bottom;"> </td> </tr> <tr style="font-size:1pt"> <td style="height:3pt;"></td> <td colspan="4" style="height:3pt;"></td> </tr> <tr style="page-break-inside:avoid;font-family:arial;font-size:8pt"> <td style="padding-bottom:3pt ;BORDER-BOTTOM:0.75pt solid #7fb8e6;vertical-align:top;"> <div style="margin-top:0pt;margin-bottom:0pt;margin-left:1.00em;text-indent:-1.00em;font-size:8pt;font-family:arial;">Total management fees paid for the year</div></td> <td style=" BORDER-BOTTOM:0.75pt solid #7fb8e6;vertical-align:bottom;">  </td> <td style="padding-bottom:3pt ;BORDER-BOTTOM:0.75pt solid #7fb8e6;white-space:nowrap;vertical-align:bottom;">$</td> <td style="padding-bottom:3pt ;BORDER-BOTTOM:0.75pt solid #7fb8e6;white-space:nowrap;vertical-align:bottom;text-align:right;">977,391</td> <td style="padding-bottom:3pt ;BORDER-BOTTOM:0.75pt solid #7fb8e6;white-space:nowrap;vertical-align:bottom;"> </td> </tr> </table> 217545018 120 0.19 977391 <table cellpadding="0" cellspacing="0" style="border-collapse:collapse;font-family:arial;font-size:9pt;width:100%;border-spacing:0px;margin:0 auto"> <tr> <td style="width:50%;"></td> <td style="vertical-align:bottom;width:1%;"></td> <td style="width:49%;"></td> </tr> <tr style="page-break-inside:avoid;font-family:arial;font-size:9pt"> <td style="vertical-align:top;"> <div style="margin-top:0pt;margin-bottom:0pt;margin-left:1.11em;margin-right:1.11em;"> <img alt="LOGO" src="g133061g78v35.jpg"/> </div></td> <td style="vertical-align:bottom;"> </td> <td style="vertical-align:top;"> <div style="margin-top:0pt;margin-bottom:0pt;margin-left:1.11em;margin-right:1.11em;"> <img alt="LOGO" src="g133061g06c80.jpg"/> </div></td> </tr> </table> <table cellpadding="0" cellspacing="0" style="border-collapse:collapse;font-family:arial;font-size:8pt;border-spacing:0px;width:100%"> <tr style="page-break-inside:avoid"> <td style="width:1%;"> </td> <td style="width:4%;vertical-align:top;text-align:left;">(1)</td> <td style="vertical-align:top;text-align:left;"> <div style="margin-top:0pt;margin-bottom:0pt;font-size:8pt;font-family:arial;text-align:left;">The ratings disclosed are the highest rating given by one of the following national rating agencies: Standard &amp; Poor’s (S&amp;P), Moody’s Investors Service, Inc. (Moody’s) or Fitch, Inc (Fitch). This treatment of split-rated securities may differ from that used for other purposes, such as for Fund investment policies. Credit ratings are subject to change. AAA, AA, A, and BBB are investment grade ratings; BB, B, CCC, CC, C and D are below-investment grade ratings. Holdings designated N/R are not rated by these national ratings agencies. </div></td> </tr></table> The ratings disclosed are the highest rating given by one of the following national rating agencies: Standard &amp; Poor’s (S&amp;P), Moody’s Investors Service, Inc. (Moody’s) or Fitch, Inc (Fitch). This treatment of split-rated securities may differ from that used for other purposes, such as for Fund investment policies. Credit ratings are subject to change. AAA, AA, A, and BBB are investment grade ratings; BB, B, CCC, CC, C and D are below-investment grade ratings. Holdings designated N/R are not rated by these national ratings agencies. <div style="margin-top:0pt;margin-bottom:0pt;margin-left:2%;font-size:11pt;font-family:arial;"><span style="color:#0071ce"><span style="font-weight:bold">How has the Fund changed? </span></span></div><div style="margin-top:6pt;margin-bottom:0pt;margin-left:2%;font-size:9pt;font-family:arial;font-weight:bold;">For more complete information, you may review the Fund’s next prospectus, which is expected to be available by September 30, 2026 at https://www.nuveen.com/en-us/mutual-funds/prospectuses or upon request at (800) 257-8787.</div> <div style="margin-top:6pt;margin-bottom:0pt;margin-left:2%;font-size:9pt;font-family:arial;font-weight:bold;">For more complete information, you may review the Fund’s next prospectus, which is expected to be available by September 30, 2026 at https://www.nuveen.com/en-us/mutual-funds/prospectuses or upon request at (800) 257-8787.</div> https://www.nuveen.com/en-us/mutual-funds/prospectuses (800) 257-8787 Nuveen Michigan Municipal Bond Fund Class I Shares NMMIX This annual shareholder report contains important information about the Class I Shares of the Nuveen Michigan Municipal Bond Fund for the period of June 1, 2025 to May 31, 2026. annual shareholder report You can find additional information at https://www.nuveen.com/en-us/mutual-funds/prospectuses. You can also request this information by contacting us at (800) 257-8787. https://www.nuveen.com/en-us/mutual-funds/prospectuses (800) 257-8787 <div style="margin-top:18pt;margin-bottom:0pt;margin-left:2%;margin-right:2%;font-size:9pt;font-family:arial;font-weight:bold;">This report describes changes to the Fund that occurred during the reporting period. </div> <div style="margin-top:0pt;margin-bottom:0pt;margin-left:2%;font-size:11pt;font-family:arial;"><span style="color:#0071ce"><span style="font-weight:bold">What were the Fund costs for the last year? </span></span><span style="font-family:arial">(based on a hypothetical $10,000 investment)</span><span style="font-family:arial;color:#0071ce"><span style="font-weight:bold"> </span></span></div> <table cellpadding="0" cellspacing="0" style="border-collapse:collapse;font-family:arial;font-size:8pt;width:96%;border-spacing:0px;margin:0 auto"> <tr> <td style="width:33%;"></td> <td style="vertical-align:bottom;"></td> <td style="width:33%;"></td> <td style="vertical-align:bottom;"></td> <td style="width:32%;"></td> </tr> <tr style="font-size:1pt"> <td style="height:3pt;"></td> <td colspan="2" style="BORDER-LEFT:0.75pt solid #7fb8e6; BORDER-TOP:0.75pt solid #7fb8e6;height:3pt;"> </td> <td colspan="2" style="BORDER-LEFT:0.75pt solid #7fb8e6; BORDER-TOP:0.75pt solid #7fb8e6; BORDER-RIGHT:0.75pt solid #7fb8e6;height:3pt;"> </td> </tr> <tr style="page-break-inside:avoid;font-family:arial;font-size:8pt"> <td style="vertical-align:bottom;"> </td> <td style=" BORDER-LEFT:0.75pt solid #7fb8e6;vertical-align:bottom;"> </td> <td style="padding-bottom:3pt ;vertical-align:middle;text-align:right;"><span style="font-weight:bold">Cost of a $10,000 investment </span></td> <td style=" BORDER-LEFT:0.75pt solid #7fb8e6;vertical-align:bottom;"> </td> <td style="padding-bottom:3pt ;BORDER-RIGHT:0.75pt solid #7fb8e6; padding-right:2pt;vertical-align:bottom;text-align:right;"><span style="font-weight:bold">Costs paid as a percentage of<br/> $10,000 investment*</span></td> </tr> <tr style="font-size:1pt"> <td style="BORDER-LEFT:0.75pt solid #7fb8e6; BORDER-TOP:0.75pt solid #7fb8e6; padding-left:8pt;height:3pt;"> </td> <td colspan="2" style="BORDER-LEFT:0.75pt solid #7fb8e6; BORDER-TOP:0.75pt solid #7fb8e6;height:3pt;"> </td> <td colspan="2" style="BORDER-LEFT:0.75pt solid #7fb8e6; BORDER-TOP:0.75pt solid #7fb8e6; BORDER-RIGHT:0.75pt solid #7fb8e6;height:3pt;"> </td> </tr> <tr style="page-break-inside:avoid;font-family:arial;font-size:8pt"> <td style="padding-bottom:3pt ;BORDER-LEFT:0.75pt solid #7fb8e6; BORDER-BOTTOM:0.75pt solid #7fb8e6; padding-left:8pt;vertical-align:top;"> <div style="margin-top:0pt;margin-bottom:0pt;margin-left:1.00em;text-indent:-1.00em;font-size:8pt;font-family:arial;">Class I Shares</div></td> <td style=" BORDER-LEFT:0.75pt solid #7fb8e6; BORDER-BOTTOM:0.75pt solid #7fb8e6;vertical-align:bottom;"> </td> <td style="padding-bottom:3pt ;BORDER-BOTTOM:0.75pt solid #7fb8e6;vertical-align:bottom;white-space:nowrap;text-align:right;">$64 </td> <td style=" BORDER-LEFT:0.75pt solid #7fb8e6; BORDER-BOTTOM:0.75pt solid #7fb8e6;vertical-align:bottom;"> </td> <td style="padding-bottom:3pt ;BORDER-RIGHT:0.75pt solid #7fb8e6; BORDER-BOTTOM:0.75pt solid #7fb8e6; padding-right:2pt;vertical-align:bottom;white-space:nowrap;text-align:right;">0.62%</td> </tr> </table> <table cellpadding="0" cellspacing="0" style="border-collapse:collapse;font-family:arial;font-size:8pt;border-spacing:0px;width:100%"> <tr style="page-break-inside:avoid"> <td style="width:3%;"> </td> <td style="width:1%;vertical-align:top;text-align:right;">*</td> <td style="width:1%;vertical-align:top;"> </td> <td style="vertical-align:top;text-align:left;"> <div style="margin-top:0pt;margin-bottom:0pt;font-family:arial;font-size:8pt;text-align:justify;">Annualized for period less than one year. </div></td> <td style="width:2%;"> </td> </tr></table> 64 0.0062 <div style="margin-top:0pt;margin-bottom:0pt;margin-left:2%;font-size:11pt;font-family:arial;"><span style="color:#0071ce"><span style="font-weight:bold">How did the Fund perform last year? What affected the Fund’s performance? </span></span></div> <table cellpadding="0" cellspacing="0" style="border-collapse:collapse;font-family:arial;font-size:9pt;width:96%;border-spacing:0px;margin:0 auto"> <tr> <td style="width:100%;"></td> </tr> <tr style="page-break-inside:avoid;font-family:arial;font-size:9pt"> <td style="vertical-align:top;"> <div style="margin-top:0pt;margin-bottom:0pt;font-size:9pt;font-family:arial;font-weight:bold;">Performance Highlights</div> <div style="font-size:6pt;margin-top:0pt;margin-bottom:0pt;"> </div> <div style="margin-top:0pt;margin-bottom:0pt;margin-right:1.11em;font-size:9pt;font-family:arial;">The Nuveen Michigan Municipal Bond Fund returned 6.92% for Class I Shares at net asset value (NAV) for the 12 months ended May 31, 2026. The Fund outperformed the S&amp;P Municipal Bond Michigan Index, which returned 6.36%.</div> <div style="font-size:6pt;margin-top:0pt;margin-bottom:0pt;"> </div> <div style="margin-top:0pt;margin-bottom:0pt;margin-right:1.11em;font-size:9pt;font-family:arial;">Top contributors to relative performance</div> <div style="font-size:6pt;margin-top:0pt;margin-bottom:0pt;"> </div> <div style="margin-top:0pt;margin-bottom:0pt;margin-right:1.67em;display:table-row;"> <div style="display:table-cell;"> <div style="margin-top:0pt;margin-bottom:0pt;margin-left:2.222222em;font-family:arial;">•</div></div> <div style="display:table-cell;"> <div style="margin-top:0pt;margin-bottom:0pt;margin-left:0.538889em;font-family:arial;">Duration positioning, especially an overweight to longer-duration bonds and an underweight to shorter-duration bonds.</div></div></div> <div style="font-size:6pt;margin-top:0pt;margin-bottom:0pt;"> </div> <div style="margin-top:0pt;margin-bottom:0pt;margin-right:1.67em;display:table-row;"> <div style="display:table-cell;"> <div style="margin-top:0pt;margin-bottom:0pt;margin-left:2.222222em;font-family:arial;">•</div></div> <div style="display:table-cell;"> <div style="margin-top:0pt;margin-bottom:0pt;margin-left:0.538889em;font-family:arial;">Credit quality positioning, especially an overweight to non-rated bonds.</div></div></div> <div style="font-size:6pt;margin-top:0pt;margin-bottom:0pt;"> </div> <div style="margin-top:0pt;margin-bottom:0pt;margin-right:1.67em;display:table-row;"> <div style="display:table-cell;"> <div style="margin-top:0pt;margin-bottom:0pt;margin-left:2.222222em;font-family:arial;">•</div></div> <div style="display:table-cell;"> <div style="margin-top:0pt;margin-bottom:0pt;margin-left:0.538889em;font-family:arial;">An overweight to the dedicated-tax bond sector.</div></div></div> <div style="font-size:6pt;margin-top:0pt;margin-bottom:0pt;"> </div> <div style="margin-top:0pt;margin-bottom:0pt;margin-right:1.11em;font-size:9pt;font-family:arial;">Top detractors from relative performance</div> <div style="font-size:6pt;margin-top:0pt;margin-bottom:0pt;"> </div> <div style="margin-top:0pt;margin-bottom:0pt;margin-right:1.67em;display:table-row;"> <div style="display:table-cell;"> <div style="margin-top:0pt;margin-bottom:0pt;margin-left:2.222222em;font-family:arial;">•</div></div> <div style="display:table-cell;"> <div style="margin-top:0pt;margin-bottom:0pt;margin-left:0.538889em;font-family:arial;">Sector allocation, especially an overweight to utility bonds.</div></div></div></td> </tr> </table> Performance data shown represents past performance and does not predict or guarantee future results. The<span style="font-weight:bold"> </span>graph and table do not reflect the deduction of taxes that a shareholder would pay on Fund distributions or redemption of Fund Shares. <div style="margin-top:0pt;margin-bottom:0pt;margin-left:2%;margin-right:2%;"> <img alt="LOGO" src="g133061g99a26.jpg"/> </div> <div style="margin-top:0pt;margin-bottom:0pt;margin-left:2%;margin-right:2%;font-size:9pt;font-family:arial;font-weight:bold;">Average Annual Total Returns </div> <table cellpadding="0" cellspacing="0" style="border-collapse:collapse;font-family:arial;font-size:8pt;width:96%;border-spacing:0px;margin:0 auto"> <tr> <td style="width:64%;"></td> <td style="vertical-align:bottom;width:6%;"></td> <td></td> <td></td> <td style="vertical-align:bottom;width:3%;"></td> <td style="vertical-align:bottom;width:6%;"></td> <td></td> <td></td> <td style="vertical-align:bottom;width:3%;"></td> <td style="vertical-align:bottom;width:6%;"></td> <td></td> <td></td> <td style="vertical-align:bottom;width:3%;"></td> </tr> <tr style="font-size:1pt"> <td style="height:3pt;"></td> <td colspan="4" style="BORDER-LEFT:0.75pt solid #7fb8e6; BORDER-TOP:0.75pt solid #7fb8e6; BORDER-RIGHT:0.75pt solid #7fb8e6;height:3pt;"> </td> <td colspan="4" style="BORDER-TOP:0.75pt solid #7fb8e6;height:3pt;"> </td> <td colspan="4" style="BORDER-LEFT:0.75pt solid #7fb8e6; BORDER-TOP:0.75pt solid #7fb8e6; BORDER-RIGHT:0.75pt solid #7fb8e6;height:3pt;"> </td> </tr> <tr style="page-break-inside:avoid;font-family:arial;font-size:8pt"> <td style="vertical-align:top;"> </td> <td style=" BORDER-LEFT:0.75pt solid #7fb8e6;vertical-align:bottom;">    </td> <td colspan="2" style="padding-bottom:3pt ;vertical-align:bottom;white-space:nowrap;text-align:center;"><span style="font-weight:bold">1-Year</span></td> <td style=" BORDER-RIGHT:0.75pt solid #7fb8e6;vertical-align:bottom;"> </td> <td style="vertical-align:bottom;">    </td> <td colspan="2" style="padding-bottom:3pt ;vertical-align:bottom;white-space:nowrap;text-align:center;"><span style="font-weight:bold">5-Year</span></td> <td style="vertical-align:bottom;"> </td> <td style=" BORDER-LEFT:0.75pt solid #7fb8e6;vertical-align:bottom;">    </td> <td colspan="2" style="padding-bottom:3pt ;vertical-align:bottom;white-space:nowrap;text-align:center;"><span style="font-weight:bold">10-Year</span></td> <td style=" BORDER-RIGHT:0.75pt solid #7fb8e6; padding-right:2pt;vertical-align:bottom;"> </td> </tr> <tr style="font-size:1pt"> <td style="BORDER-LEFT:0.75pt solid #7fb8e6; BORDER-TOP:0.75pt solid #7fb8e6; padding-left:8pt;height:3pt;"> </td> <td colspan="4" style="BORDER-LEFT:0.75pt solid #7fb8e6; BORDER-TOP:0.75pt solid #7fb8e6; BORDER-RIGHT:0.75pt solid #7fb8e6;height:3pt;"> </td> <td colspan="4" style="BORDER-TOP:0.75pt solid #7fb8e6;height:3pt;"> </td> <td colspan="4" style="BORDER-LEFT:0.75pt solid #7fb8e6; BORDER-TOP:0.75pt solid #7fb8e6; BORDER-RIGHT:0.75pt solid #7fb8e6;height:3pt;"> </td> </tr> <tr style="page-break-inside:avoid;font-family:arial;font-size:8pt"> <td style="padding-bottom:3pt ;BORDER-LEFT:0.75pt solid #7fb8e6; padding-left:8pt;vertical-align:top;"> <div style="margin-top:0pt;margin-bottom:0pt;margin-left:1.00em;text-indent:-1.00em;font-size:8pt;font-family:arial;">Class I Shares at NAV</div></td> <td style=" BORDER-LEFT:0.75pt solid #7fb8e6;vertical-align:bottom;">    </td> <td style="padding-bottom:3pt ;white-space:nowrap;vertical-align:bottom;"> </td> <td style="padding-bottom:3pt ;white-space:nowrap;vertical-align:bottom;text-align:right;">6.92</td> <td style="padding-bottom:3pt ;BORDER-RIGHT:0.75pt solid #7fb8e6;white-space:nowrap;vertical-align:bottom;">% </td> <td style="vertical-align:bottom;">    </td> <td style="padding-bottom:3pt ;white-space:nowrap;vertical-align:bottom;"> </td> <td style="padding-bottom:3pt ;white-space:nowrap;vertical-align:bottom;text-align:right;">0.07</td> <td style="padding-bottom:3pt ;white-space:nowrap;vertical-align:bottom;">% </td> <td style=" BORDER-LEFT:0.75pt solid #7fb8e6;vertical-align:bottom;">    </td> <td style="padding-bottom:3pt ;white-space:nowrap;vertical-align:bottom;"> </td> <td style="padding-bottom:3pt ;white-space:nowrap;vertical-align:bottom;text-align:right;">1.69</td> <td style="padding-bottom:3pt ;BORDER-RIGHT:0.75pt solid #7fb8e6; padding-right:2pt;white-space:nowrap;vertical-align:bottom;">% </td> </tr> <tr style="font-size:1pt"> <td style="BORDER-LEFT:0.75pt solid #7fb8e6; BORDER-TOP:0.75pt solid #7fb8e6; padding-left:8pt;height:3pt;"> </td> <td colspan="4" style="BORDER-LEFT:0.75pt solid #7fb8e6; BORDER-TOP:0.75pt solid #7fb8e6; BORDER-RIGHT:0.75pt solid #7fb8e6;height:3pt;"> </td> <td colspan="4" style="BORDER-TOP:0.75pt solid #7fb8e6;height:3pt;"> </td> <td colspan="4" style="BORDER-LEFT:0.75pt solid #7fb8e6; BORDER-TOP:0.75pt solid #7fb8e6; BORDER-RIGHT:0.75pt solid #7fb8e6;height:3pt;"> </td> </tr> <tr style="page-break-inside:avoid;font-family:arial;font-size:8pt"> <td style="padding-bottom:3pt ;BORDER-LEFT:0.75pt solid #7fb8e6; padding-left:8pt;vertical-align:top;"> <div style="margin-top:0pt;margin-bottom:0pt;margin-left:1.00em;text-indent:-1.00em;font-size:8pt;font-family:arial;">S&amp;P Municipal Bond Index</div></td> <td style=" BORDER-LEFT:0.75pt solid #7fb8e6;vertical-align:bottom;">    </td> <td style="padding-bottom:3pt ;white-space:nowrap;vertical-align:bottom;"> </td> <td style="padding-bottom:3pt ;white-space:nowrap;vertical-align:bottom;text-align:right;">6.57</td> <td style="padding-bottom:3pt ;BORDER-RIGHT:0.75pt solid #7fb8e6;white-space:nowrap;vertical-align:bottom;">% </td> <td style="vertical-align:bottom;">    </td> <td style="padding-bottom:3pt ;white-space:nowrap;vertical-align:bottom;"> </td> <td style="padding-bottom:3pt ;white-space:nowrap;vertical-align:bottom;text-align:right;">1.14</td> <td style="padding-bottom:3pt ;white-space:nowrap;vertical-align:bottom;">% </td> <td style=" BORDER-LEFT:0.75pt solid #7fb8e6;vertical-align:bottom;">    </td> <td style="padding-bottom:3pt ;white-space:nowrap;vertical-align:bottom;"> </td> <td style="padding-bottom:3pt ;white-space:nowrap;vertical-align:bottom;text-align:right;">2.30</td> <td style="padding-bottom:3pt ;BORDER-RIGHT:0.75pt solid #7fb8e6; padding-right:2pt;white-space:nowrap;vertical-align:bottom;">% </td> </tr> <tr style="font-size:1pt"> <td style="BORDER-LEFT:0.75pt solid #7fb8e6; BORDER-TOP:0.75pt solid #7fb8e6; padding-left:8pt;height:3pt;"> </td> <td colspan="4" style="BORDER-LEFT:0.75pt solid #7fb8e6; BORDER-TOP:0.75pt solid #7fb8e6; BORDER-RIGHT:0.75pt solid #7fb8e6;height:3pt;"> </td> <td colspan="4" style="BORDER-TOP:0.75pt solid #7fb8e6;height:3pt;"> </td> <td colspan="4" style="BORDER-LEFT:0.75pt solid #7fb8e6; BORDER-TOP:0.75pt solid #7fb8e6; BORDER-RIGHT:0.75pt solid #7fb8e6;height:3pt;"> </td> </tr> <tr style="page-break-inside:avoid;font-family:arial;font-size:8pt"> <td style="padding-bottom:3pt ;BORDER-LEFT:0.75pt solid #7fb8e6; padding-left:8pt;vertical-align:top;"> <div style="margin-top:0pt;margin-bottom:0pt;margin-left:1.00em;text-indent:-1.00em;font-size:8pt;font-family:arial;">S&amp;P Municipal Bond Michigan Index</div></td> <td style=" BORDER-LEFT:0.75pt solid #7fb8e6;vertical-align:bottom;">    </td> <td style="padding-bottom:3pt ;white-space:nowrap;vertical-align:bottom;"> </td> <td style="padding-bottom:3pt ;white-space:nowrap;vertical-align:bottom;text-align:right;">6.36</td> <td style="padding-bottom:3pt ;BORDER-RIGHT:0.75pt solid #7fb8e6;white-space:nowrap;vertical-align:bottom;">% </td> <td style="vertical-align:bottom;">    </td> <td style="padding-bottom:3pt ;white-space:nowrap;vertical-align:bottom;"> </td> <td style="padding-bottom:3pt ;white-space:nowrap;vertical-align:bottom;text-align:right;">1.12</td> <td style="padding-bottom:3pt ;white-space:nowrap;vertical-align:bottom;">% </td> <td style=" BORDER-LEFT:0.75pt solid #7fb8e6;vertical-align:bottom;">    </td> <td style="padding-bottom:3pt ;white-space:nowrap;vertical-align:bottom;"> </td> <td style="padding-bottom:3pt ;white-space:nowrap;vertical-align:bottom;text-align:right;">2.47</td> <td style="padding-bottom:3pt ;BORDER-RIGHT:0.75pt solid #7fb8e6; padding-right:2pt;white-space:nowrap;vertical-align:bottom;">% </td> </tr> <tr style="font-size:1pt"> <td style="BORDER-LEFT:0.75pt solid #7fb8e6; BORDER-TOP:0.75pt solid #7fb8e6; padding-left:8pt;height:3pt;"> </td> <td colspan="4" style="BORDER-LEFT:0.75pt solid #7fb8e6; BORDER-TOP:0.75pt solid #7fb8e6; BORDER-RIGHT:0.75pt solid #7fb8e6;height:3pt;"> </td> <td colspan="4" style="BORDER-TOP:0.75pt solid #7fb8e6;height:3pt;"> </td> <td colspan="4" style="BORDER-LEFT:0.75pt solid #7fb8e6; BORDER-TOP:0.75pt solid #7fb8e6; BORDER-RIGHT:0.75pt solid #7fb8e6;height:3pt;"> </td> </tr> <tr style="page-break-inside:avoid;font-family:arial;font-size:8pt"> <td style="padding-bottom:3pt ;BORDER-LEFT:0.75pt solid #7fb8e6; BORDER-BOTTOM:0.75pt solid #7fb8e6; padding-left:8pt;vertical-align:top;"> <div style="margin-top:0pt;margin-bottom:0pt;margin-left:1.00em;text-indent:-1.00em;font-size:8pt;font-family:arial;">Lipper Other States Municipal Debt Funds Classification Average</div></td> <td style=" BORDER-LEFT:0.75pt solid #7fb8e6; BORDER-BOTTOM:0.75pt solid #7fb8e6;vertical-align:bottom;">    </td> <td style="padding-bottom:3pt ;BORDER-BOTTOM:0.75pt solid #7fb8e6;white-space:nowrap;vertical-align:bottom;"> </td> <td style="padding-bottom:3pt ;BORDER-BOTTOM:0.75pt solid #7fb8e6;white-space:nowrap;vertical-align:bottom;text-align:right;">7.08</td> <td style="padding-bottom:3pt ;BORDER-RIGHT:0.75pt solid #7fb8e6; BORDER-BOTTOM:0.75pt solid #7fb8e6;white-space:nowrap;vertical-align:bottom;">% </td> <td style=" BORDER-BOTTOM:0.75pt solid #7fb8e6;vertical-align:bottom;">    </td> <td style="padding-bottom:3pt ;BORDER-BOTTOM:0.75pt solid #7fb8e6;white-space:nowrap;vertical-align:bottom;"> </td> <td style="padding-bottom:3pt ;BORDER-BOTTOM:0.75pt solid #7fb8e6;white-space:nowrap;vertical-align:bottom;text-align:right;">0.43</td> <td style="padding-bottom:3pt ;BORDER-BOTTOM:0.75pt solid #7fb8e6;white-space:nowrap;vertical-align:bottom;">% </td> <td style=" BORDER-LEFT:0.75pt solid #7fb8e6; BORDER-BOTTOM:0.75pt solid #7fb8e6;vertical-align:bottom;">    </td> <td style="padding-bottom:3pt ;BORDER-BOTTOM:0.75pt solid #7fb8e6;white-space:nowrap;vertical-align:bottom;"> </td> <td style="padding-bottom:3pt ;BORDER-BOTTOM:0.75pt solid #7fb8e6;white-space:nowrap;vertical-align:bottom;text-align:right;">1.54</td> <td style="padding-bottom:3pt ;BORDER-RIGHT:0.75pt solid #7fb8e6; BORDER-BOTTOM:0.75pt solid #7fb8e6; padding-right:2pt;white-space:nowrap;vertical-align:bottom;">% </td> </tr> </table> Class I Shares at NAV 0.0692 0.0007 0.0169 S&P Municipal Bond Index 0.0657 0.0114 0.0230 S&P Municipal Bond Michigan Index 0.0636 0.0112 0.0247 Lipper Other States Municipal Debt Funds Classification Average 0.0708 0.0043 0.0154 For most recent month-end performance, go to https://www.nuveen.com/en-us/mutual-funds/prospectuses or call (800) 257‑8787. <div style="margin-top:0pt;margin-bottom:0pt;margin-left:2%;font-size:11pt;font-family:arial;"><span style="color:#0071ce"><span style="font-weight:bold">Fund Statistics (as of May 31, 2026) </span></span></div> <table cellpadding="0" cellspacing="0" style="border-collapse:collapse;font-family:arial;font-size:8pt;width:96%;border-spacing:0px;margin:0 auto"> <tr> <td style="width:87%;"></td> <td style="vertical-align:bottom;width:2%;"></td> <td></td> <td></td> <td style="vertical-align:bottom;width:2%;"></td> </tr> <tr style="font-size:1pt"> <td style="height:3pt;"></td> <td colspan="4" style="height:3pt;"></td> </tr> <tr style="page-break-inside:avoid;font-family:arial;font-size:8pt"> <td style="padding-bottom:3pt ;BORDER-BOTTOM:0.75pt solid #7fb8e6;vertical-align:top;"> <div style="margin-top:0pt;margin-bottom:0pt;margin-left:1.00em;text-indent:-1.00em;font-size:8pt;font-family:arial;">Fund net assets</div></td> <td style=" BORDER-BOTTOM:0.75pt solid #7fb8e6;vertical-align:bottom;">  </td> <td style="padding-bottom:3pt ;BORDER-BOTTOM:0.75pt solid #7fb8e6;white-space:nowrap;vertical-align:bottom;">$</td> <td style="padding-bottom:3pt ;BORDER-BOTTOM:0.75pt solid #7fb8e6;white-space:nowrap;vertical-align:bottom;text-align:right;">217,545,018</td> <td style="padding-bottom:3pt ;BORDER-BOTTOM:0.75pt solid #7fb8e6;white-space:nowrap;vertical-align:bottom;"> </td> </tr> <tr style="font-size:1pt"> <td style="height:3pt;"></td> <td colspan="4" style="height:3pt;"></td> </tr> <tr style="page-break-inside:avoid;font-family:arial;font-size:8pt"> <td style="padding-bottom:3pt ;BORDER-BOTTOM:0.75pt solid #7fb8e6;vertical-align:top;"> <div style="margin-top:0pt;margin-bottom:0pt;margin-left:1.00em;text-indent:-1.00em;font-size:8pt;font-family:arial;">Total number of portfolio holdings</div></td> <td style=" BORDER-BOTTOM:0.75pt solid #7fb8e6;vertical-align:bottom;">  </td> <td style="padding-bottom:3pt ;BORDER-BOTTOM:0.75pt solid #7fb8e6;white-space:nowrap;vertical-align:bottom;"> </td> <td style="padding-bottom:3pt ;BORDER-BOTTOM:0.75pt solid #7fb8e6;white-space:nowrap;vertical-align:bottom;text-align:right;">120</td> <td style="padding-bottom:3pt ;BORDER-BOTTOM:0.75pt solid #7fb8e6;white-space:nowrap;vertical-align:bottom;"> </td> </tr> <tr style="font-size:1pt"> <td style="height:3pt;"></td> <td colspan="4" style="height:3pt;"></td> </tr> <tr style="page-break-inside:avoid;font-family:arial;font-size:8pt"> <td style="padding-bottom:3pt ;BORDER-BOTTOM:0.75pt solid #7fb8e6;vertical-align:top;"> <div style="margin-top:0pt;margin-bottom:0pt;margin-left:1.00em;text-indent:-1.00em;font-size:8pt;font-family:arial;">Portfolio turnover (%)</div></td> <td style=" BORDER-BOTTOM:0.75pt solid #7fb8e6;vertical-align:bottom;">  </td> <td style="padding-bottom:3pt ;BORDER-BOTTOM:0.75pt solid #7fb8e6;white-space:nowrap;vertical-align:bottom;"> </td> <td style="padding-bottom:3pt ;BORDER-BOTTOM:0.75pt solid #7fb8e6;white-space:nowrap;vertical-align:bottom;text-align:right;">19%</td> <td style="padding-bottom:3pt ;BORDER-BOTTOM:0.75pt solid #7fb8e6;white-space:nowrap;vertical-align:bottom;"> </td> </tr> <tr style="font-size:1pt"> <td style="height:3pt;"></td> <td colspan="4" style="height:3pt;"></td> </tr> <tr style="page-break-inside:avoid;font-family:arial;font-size:8pt"> <td style="padding-bottom:3pt ;BORDER-BOTTOM:0.75pt solid #7fb8e6;vertical-align:top;"> <div style="margin-top:0pt;margin-bottom:0pt;margin-left:1.00em;text-indent:-1.00em;font-size:8pt;font-family:arial;">Total management fees paid for the year</div></td> <td style=" BORDER-BOTTOM:0.75pt solid #7fb8e6;vertical-align:bottom;">  </td> <td style="padding-bottom:3pt ;BORDER-BOTTOM:0.75pt solid #7fb8e6;white-space:nowrap;vertical-align:bottom;">$</td> <td style="padding-bottom:3pt ;BORDER-BOTTOM:0.75pt solid #7fb8e6;white-space:nowrap;vertical-align:bottom;text-align:right;">977,391</td> <td style="padding-bottom:3pt ;BORDER-BOTTOM:0.75pt solid #7fb8e6;white-space:nowrap;vertical-align:bottom;"> </td> </tr> </table> 217545018 120 0.19 977391 <table cellpadding="0" cellspacing="0" style="border-collapse:collapse;font-family:arial;font-size:9pt;width:100%;border-spacing:0px;margin:0 auto"> <tr> <td style="width:50%;"></td> <td style="vertical-align:bottom;width:1%;"></td> <td style="width:49%;"></td> </tr> <tr style="page-break-inside:avoid;font-family:arial;font-size:9pt"> <td style="vertical-align:top;"> <div style="margin-top:0pt;margin-bottom:0pt;margin-left:1.11em;margin-right:1.11em;"> <img alt="LOGO" src="g133061g72m03.jpg"/> </div></td> <td style="vertical-align:bottom;"> </td> <td style="vertical-align:top;"> <div style="margin-top:0pt;margin-bottom:0pt;margin-left:1.11em;margin-right:1.11em;"> <img alt="LOGO" src="g133061g03n78.jpg"/> </div></td> </tr> </table> <table cellpadding="0" cellspacing="0" style="border-collapse:collapse;font-family:arial;font-size:8pt;border-spacing:0px;width:100%"> <tr style="page-break-inside:avoid"> <td style="width:1%;"> </td> <td style="width:4%;vertical-align:top;text-align:left;">(1)</td> <td style="vertical-align:top;text-align:left;"> <div style="margin-top:0pt;margin-bottom:0pt;font-size:8pt;font-family:arial;text-align:left;">The ratings disclosed are the highest rating given by one of the following national rating agencies: Standard &amp; Poor’s (S&amp;P), Moody’s Investors Service, Inc. (Moody’s) or Fitch, Inc (Fitch). This treatment of split-rated securities may differ from that used for other purposes, such as for Fund investment policies. Credit ratings are subject to change. AAA, AA, A, and BBB are investment grade ratings; BB, B, CCC, CC, C and D are below-investment grade ratings. Holdings designated N/R are not rated by these national ratings agencies. </div></td> </tr></table> The ratings disclosed are the highest rating given by one of the following national rating agencies: Standard &amp; Poor’s (S&amp;P), Moody’s Investors Service, Inc. (Moody’s) or Fitch, Inc (Fitch). This treatment of split-rated securities may differ from that used for other purposes, such as for Fund investment policies. Credit ratings are subject to change. AAA, AA, A, and BBB are investment grade ratings; BB, B, CCC, CC, C and D are below-investment grade ratings. Holdings designated N/R are not rated by these national ratings agencies. <div style="margin-top:0pt;margin-bottom:0pt;margin-left:2%;font-size:11pt;font-family:arial;"><span style="color:#0071ce"><span style="font-weight:bold">How has the Fund changed? </span></span></div><div style="margin-top:6pt;margin-bottom:0pt;margin-left:2%;font-size:9pt;font-family:arial;font-weight:bold;">For more complete information, you may review the Fund’s next prospectus, which is expected to be available by September 30, 2026 at https://www.nuveen.com/en-us/mutual-funds/prospectuses or upon request at (800) 257-8787. </div> <div style="margin-top:6pt;margin-bottom:0pt;margin-left:2%;font-size:9pt;font-family:arial;font-weight:bold;">For more complete information, you may review the Fund’s next prospectus, which is expected to be available by September 30, 2026 at https://www.nuveen.com/en-us/mutual-funds/prospectuses or upon request at (800) 257-8787. </div> https://www.nuveen.com/en-us/mutual-funds/prospectuses (800) 257-8787 Nuveen Missouri Municipal Bond Fund Class A Shares FMOTX This annual shareholder report contains important information about the Class A Shares of the Nuveen Missouri Municipal Bond Fund for the period of June 1, 2025 to May 31, 2026. annual shareholder report You can find additional information at https://www.nuveen.com/en-us/mutual-funds/prospectuses. You can also request this information by contacting us at (800) 257-8787. https://www.nuveen.com/en-us/mutual-funds/prospectuses (800) 257-8787 <div style="margin-top:18pt;margin-bottom:0pt;margin-left:2%;margin-right:2%;font-size:9pt;font-family:arial;font-weight:bold;">This report describes changes to the Fund that occurred during the reporting period. </div> <div style="margin-top:0pt;margin-bottom:0pt;margin-left:2%;font-size:11pt;font-family:arial;"><span style="color:#0071ce"><span style="font-weight:bold">What were the Fund costs for the last year? </span></span><span style="font-family:arial">(based on a hypothetical $10,000 investment)</span><span style="font-family:arial;color:#0071ce"><span style="font-weight:bold"> </span></span></div> <table cellpadding="0" cellspacing="0" style="border-collapse:collapse;font-family:arial;font-size:8pt;width:96%;border-spacing:0px;margin:0 auto"> <tr> <td style="width:33%;"></td> <td style="vertical-align:bottom;"></td> <td style="width:33%;"></td> <td style="vertical-align:bottom;"></td> <td style="width:32%;"></td> </tr> <tr style="font-size:1pt"> <td style="height:3pt;"></td> <td colspan="2" style="BORDER-LEFT:0.75pt solid #7fb8e6; BORDER-TOP:0.75pt solid #7fb8e6;height:3pt;"> </td> <td colspan="2" style="BORDER-LEFT:0.75pt solid #7fb8e6; BORDER-TOP:0.75pt solid #7fb8e6; BORDER-RIGHT:0.75pt solid #7fb8e6;height:3pt;"> </td> </tr> <tr style="page-break-inside:avoid;font-family:arial;font-size:8pt"> <td style="vertical-align:bottom;"> </td> <td style=" BORDER-LEFT:0.75pt solid #7fb8e6;vertical-align:bottom;"> </td> <td style="padding-bottom:3pt ;vertical-align:middle;text-align:right;"><span style="font-weight:bold">Cost of a $10,000 investment </span></td> <td style=" BORDER-LEFT:0.75pt solid #7fb8e6;vertical-align:bottom;"> </td> <td style="padding-bottom:3pt ;BORDER-RIGHT:0.75pt solid #7fb8e6; padding-right:2pt;vertical-align:bottom;text-align:right;"><span style="font-weight:bold">Costs paid as a percentage of<br/> $10,000 investment*</span></td> </tr> <tr style="font-size:1pt"> <td style="BORDER-LEFT:0.75pt solid #7fb8e6; BORDER-TOP:0.75pt solid #7fb8e6; padding-left:8pt;height:3pt;"> </td> <td colspan="2" style="BORDER-LEFT:0.75pt solid #7fb8e6; BORDER-TOP:0.75pt solid #7fb8e6;height:3pt;"> </td> <td colspan="2" style="BORDER-LEFT:0.75pt solid #7fb8e6; BORDER-TOP:0.75pt solid #7fb8e6; BORDER-RIGHT:0.75pt solid #7fb8e6;height:3pt;"> </td> </tr> <tr style="page-break-inside:avoid;font-family:arial;font-size:8pt"> <td style="padding-bottom:3pt ;BORDER-LEFT:0.75pt solid #7fb8e6; BORDER-BOTTOM:0.75pt solid #7fb8e6; padding-left:8pt;vertical-align:top;"> <div style="margin-top:0pt;margin-bottom:0pt;margin-left:1.00em;text-indent:-1.00em;font-size:8pt;font-family:arial;">Class A Shares</div></td> <td style=" BORDER-LEFT:0.75pt solid #7fb8e6; BORDER-BOTTOM:0.75pt solid #7fb8e6;vertical-align:bottom;"> </td> <td style="padding-bottom:3pt ;BORDER-BOTTOM:0.75pt solid #7fb8e6;vertical-align:bottom;white-space:nowrap;text-align:right;">$80 </td> <td style=" BORDER-LEFT:0.75pt solid #7fb8e6; BORDER-BOTTOM:0.75pt solid #7fb8e6;vertical-align:bottom;"> </td> <td style="padding-bottom:3pt ;BORDER-RIGHT:0.75pt solid #7fb8e6; BORDER-BOTTOM:0.75pt solid #7fb8e6; padding-right:2pt;vertical-align:bottom;white-space:nowrap;text-align:right;">0.77%</td> </tr> </table> <table cellpadding="0" cellspacing="0" style="border-collapse:collapse;font-family:arial;font-size:8pt;border-spacing:0px;width:100%"> <tr style="page-break-inside:avoid"> <td style="width:3%;"> </td> <td style="width:1%;vertical-align:top;text-align:right;">*</td> <td style="width:1%;vertical-align:top;"> </td> <td style="vertical-align:top;text-align:left;"> <div style="margin-top:0pt;margin-bottom:0pt;font-family:arial;font-size:8pt;text-align:justify;">Annualized for period less than one year. </div></td> <td style="width:2%;"> </td> </tr></table> 80 0.0077 <div style="margin-top:0pt;margin-bottom:0pt;margin-left:2%;font-size:11pt;font-family:arial;"><span style="color:#0071ce"><span style="font-weight:bold">How did the Fund perform last year? What affected the Fund’s performance? </span></span></div> <table cellpadding="0" cellspacing="0" style="border-collapse:collapse;font-family:arial;font-size:9pt;width:96%;border-spacing:0px;margin:0 auto"> <tr> <td style="width:100%;"></td> </tr> <tr style="page-break-inside:avoid;font-family:arial;font-size:9pt"> <td style="vertical-align:top;"> <div style="margin-top:0pt;margin-bottom:0pt;font-size:9pt;font-family:arial;font-weight:bold;">Performance Highlights</div> <div style="font-size:6pt;margin-top:0pt;margin-bottom:0pt;"> </div> <div style="margin-top:0pt;margin-bottom:0pt;margin-right:1.11em;font-size:9pt;font-family:arial;">The Nuveen Missouri Municipal Bond Fund returned 6.90% for Class A Shares at net asset value (NAV) for the 12 months ended May 31, 2026. The Fund underperformed the S&amp;P Municipal Bond Missouri Index, which returned 7.30%.</div> <div style="font-size:6pt;margin-top:0pt;margin-bottom:0pt;"> </div> <div style="margin-top:0pt;margin-bottom:0pt;margin-right:1.11em;font-size:9pt;font-family:arial;">Top contributors to relative performance</div> <div style="font-size:6pt;margin-top:0pt;margin-bottom:0pt;"> </div> <div style="margin-top:0pt;margin-bottom:0pt;margin-right:1.67em;display:table-row;"> <div style="display:table-cell;"> <div style="margin-top:0pt;margin-bottom:0pt;margin-left:2.222222em;font-family:arial;">•</div></div> <div style="display:table-cell;"> <div style="margin-top:0pt;margin-bottom:0pt;margin-left:0.538889em;font-family:arial;">Duration positioning, especially an overweight to bonds with durations of 10 years and longer and an underweight to bonds with durations of six years and shorter.</div></div></div> <div style="font-size:6pt;margin-top:0pt;margin-bottom:0pt;"> </div> <div style="margin-top:0pt;margin-bottom:0pt;margin-right:1.11em;font-size:9pt;font-family:arial;">Top detractors from relative performance</div> <div style="font-size:6pt;margin-top:0pt;margin-bottom:0pt;"> </div> <div style="margin-top:0pt;margin-bottom:0pt;margin-right:1.67em;display:table-row;"> <div style="display:table-cell;"> <div style="margin-top:0pt;margin-bottom:0pt;margin-left:2.222222em;font-family:arial;">•</div></div> <div style="display:table-cell;"> <div style="margin-top:0pt;margin-bottom:0pt;margin-left:0.538889em;font-family:arial;">Security selection.</div></div></div> <div style="font-size:6pt;margin-top:0pt;margin-bottom:0pt;"> </div> <div style="margin-top:0pt;margin-bottom:0pt;margin-right:1.67em;display:table-row;"> <div style="display:table-cell;"> <div style="margin-top:0pt;margin-bottom:0pt;margin-left:2.222222em;font-family:arial;">•</div></div> <div style="display:table-cell;"> <div style="margin-top:0pt;margin-bottom:0pt;margin-left:0.538889em;font-family:arial;">Shorter-duration health care bonds.</div></div></div></td> </tr> </table> Performance data shown represents past performance and does not predict or guarantee future results. The<span style="font-weight:bold"> </span>graph and table do not reflect the deduction of taxes that a shareholder would pay on Fund distributions or redemption of Fund Shares. <div style="margin-top:0pt;margin-bottom:0pt;margin-left:2%;margin-right:2%;"> <img alt="LOGO" src="g133061g99a29.jpg"/> </div> <div style="margin-top:0pt;margin-bottom:0pt;margin-left:2%;margin-right:2%;font-size:9pt;font-family:arial;font-weight:bold;">Average Annual Total Returns </div> <table cellpadding="0" cellspacing="0" style="border-collapse:collapse;font-family:arial;font-size:8pt;width:96%;border-spacing:0px;margin:0 auto"> <tr> <td style="width:64%;"></td> <td style="vertical-align:bottom;width:6%;"></td> <td></td> <td></td> <td style="vertical-align:bottom;width:3%;"></td> <td style="vertical-align:bottom;width:6%;"></td> <td></td> <td></td> <td style="vertical-align:bottom;width:3%;"></td> <td style="vertical-align:bottom;width:6%;"></td> <td></td> <td></td> <td style="vertical-align:bottom;width:3%;"></td> </tr> <tr style="font-size:1pt"> <td style="height:3pt;"></td> <td colspan="4" style="BORDER-LEFT:0.75pt solid #7fb8e6; BORDER-TOP:0.75pt solid #7fb8e6; BORDER-RIGHT:0.75pt solid #7fb8e6;height:3pt;"> </td> <td colspan="4" style="BORDER-TOP:0.75pt solid #7fb8e6;height:3pt;"> </td> <td colspan="4" style="BORDER-LEFT:0.75pt solid #7fb8e6; BORDER-TOP:0.75pt solid #7fb8e6; BORDER-RIGHT:0.75pt solid #7fb8e6;height:3pt;"> </td> </tr> <tr style="page-break-inside:avoid;font-family:arial;font-size:8pt"> <td style="vertical-align:top;"> </td> <td style=" BORDER-LEFT:0.75pt solid #7fb8e6;vertical-align:bottom;">    </td> <td colspan="2" style="padding-bottom:3pt ;vertical-align:bottom;white-space:nowrap;text-align:center;"><span style="font-weight:bold">1-Year</span></td> <td style=" BORDER-RIGHT:0.75pt solid #7fb8e6;vertical-align:bottom;"> </td> <td style="vertical-align:bottom;">    </td> <td colspan="2" style="padding-bottom:3pt ;vertical-align:bottom;white-space:nowrap;text-align:center;"><span style="font-weight:bold">5-Year</span></td> <td style="vertical-align:bottom;"> </td> <td style=" BORDER-LEFT:0.75pt solid #7fb8e6;vertical-align:bottom;">    </td> <td colspan="2" style="padding-bottom:3pt ;vertical-align:bottom;white-space:nowrap;text-align:center;"><span style="font-weight:bold">10-Year</span></td> <td style=" BORDER-RIGHT:0.75pt solid #7fb8e6; padding-right:2pt;vertical-align:bottom;"> </td> </tr> <tr style="font-size:1pt"> <td style="BORDER-LEFT:0.75pt solid #7fb8e6; BORDER-TOP:0.75pt solid #7fb8e6; padding-left:8pt;height:3pt;"> </td> <td colspan="4" style="BORDER-LEFT:0.75pt solid #7fb8e6; BORDER-TOP:0.75pt solid #7fb8e6; BORDER-RIGHT:0.75pt solid #7fb8e6;height:3pt;"> </td> <td colspan="4" style="BORDER-TOP:0.75pt solid #7fb8e6;height:3pt;"> </td> <td colspan="4" style="BORDER-LEFT:0.75pt solid #7fb8e6; BORDER-TOP:0.75pt solid #7fb8e6; BORDER-RIGHT:0.75pt solid #7fb8e6;height:3pt;"> </td> </tr> <tr style="page-break-inside:avoid;font-family:arial;font-size:8pt"> <td style="padding-bottom:3pt ;BORDER-LEFT:0.75pt solid #7fb8e6; padding-left:8pt;vertical-align:top;"> <div style="margin-top:0pt;margin-bottom:0pt;margin-left:1.00em;text-indent:-1.00em;font-size:8pt;font-family:arial;">Class A Shares at NAV (excluding maximum sales charge)</div></td> <td style=" BORDER-LEFT:0.75pt solid #7fb8e6;vertical-align:bottom;">    </td> <td style="padding-bottom:3pt ;white-space:nowrap;vertical-align:bottom;"> </td> <td style="padding-bottom:3pt ;white-space:nowrap;vertical-align:bottom;text-align:right;">6.90</td> <td style="padding-bottom:3pt ;BORDER-RIGHT:0.75pt solid #7fb8e6;white-space:nowrap;vertical-align:bottom;">% </td> <td style="vertical-align:bottom;">    </td> <td style="padding-bottom:3pt ;white-space:nowrap;vertical-align:bottom;"> </td> <td style="padding-bottom:3pt ;white-space:nowrap;vertical-align:bottom;text-align:right;">0.79</td> <td style="padding-bottom:3pt ;white-space:nowrap;vertical-align:bottom;">% </td> <td style=" BORDER-LEFT:0.75pt solid #7fb8e6;vertical-align:bottom;">    </td> <td style="padding-bottom:3pt ;white-space:nowrap;vertical-align:bottom;"> </td> <td style="padding-bottom:3pt ;white-space:nowrap;vertical-align:bottom;text-align:right;">2.08</td> <td style="padding-bottom:3pt ;BORDER-RIGHT:0.75pt solid #7fb8e6; padding-right:2pt;white-space:nowrap;vertical-align:bottom;">% </td> </tr> <tr style="font-size:1pt"> <td style="BORDER-LEFT:0.75pt solid #7fb8e6; BORDER-TOP:0.75pt solid #7fb8e6; padding-left:8pt;height:3pt;"> </td> <td colspan="4" style="BORDER-LEFT:0.75pt solid #7fb8e6; BORDER-TOP:0.75pt solid #7fb8e6; BORDER-RIGHT:0.75pt solid #7fb8e6;height:3pt;"> </td> <td colspan="4" style="BORDER-TOP:0.75pt solid #7fb8e6;height:3pt;"> </td> <td colspan="4" style="BORDER-LEFT:0.75pt solid #7fb8e6; BORDER-TOP:0.75pt solid #7fb8e6; BORDER-RIGHT:0.75pt solid #7fb8e6;height:3pt;"> </td> </tr> <tr style="page-break-inside:avoid;font-family:arial;font-size:8pt"> <td style="padding-bottom:3pt ;BORDER-LEFT:0.75pt solid #7fb8e6; padding-left:8pt;vertical-align:top;"> <div style="margin-top:0pt;margin-bottom:0pt;margin-left:1.00em;text-indent:-1.00em;font-size:8pt;font-family:arial;">Class A Shares at maximum sales charge (Offering Price)</div></td> <td style=" BORDER-LEFT:0.75pt solid #7fb8e6;vertical-align:bottom;">    </td> <td style="padding-bottom:3pt ;white-space:nowrap;vertical-align:bottom;"> </td> <td style="padding-bottom:3pt ;white-space:nowrap;vertical-align:bottom;text-align:right;">2.45</td> <td style="padding-bottom:3pt ;BORDER-RIGHT:0.75pt solid #7fb8e6;white-space:nowrap;vertical-align:bottom;">% </td> <td style="vertical-align:bottom;">    </td> <td style="padding-bottom:3pt ;white-space:nowrap;vertical-align:bottom;"> </td> <td style="padding-bottom:3pt ;white-space:nowrap;vertical-align:bottom;text-align:right;">(0.07</td> <td style="padding-bottom:3pt ;white-space:nowrap;vertical-align:bottom;">)% </td> <td style=" BORDER-LEFT:0.75pt solid #7fb8e6;vertical-align:bottom;">    </td> <td style="padding-bottom:3pt ;white-space:nowrap;vertical-align:bottom;"> </td> <td style="padding-bottom:3pt ;white-space:nowrap;vertical-align:bottom;text-align:right;">1.64</td> <td style="padding-bottom:3pt ;BORDER-RIGHT:0.75pt solid #7fb8e6; padding-right:2pt;white-space:nowrap;vertical-align:bottom;">% </td> </tr> <tr style="font-size:1pt"> <td style="BORDER-LEFT:0.75pt solid #7fb8e6; BORDER-TOP:0.75pt solid #7fb8e6; padding-left:8pt;height:3pt;"> </td> <td colspan="4" style="BORDER-LEFT:0.75pt solid #7fb8e6; BORDER-TOP:0.75pt solid #7fb8e6; BORDER-RIGHT:0.75pt solid #7fb8e6;height:3pt;"> </td> <td colspan="4" style="BORDER-TOP:0.75pt solid #7fb8e6;height:3pt;"> </td> <td colspan="4" style="BORDER-LEFT:0.75pt solid #7fb8e6; BORDER-TOP:0.75pt solid #7fb8e6; BORDER-RIGHT:0.75pt solid #7fb8e6;height:3pt;"> </td> </tr> <tr style="page-break-inside:avoid;font-family:arial;font-size:8pt"> <td style="padding-bottom:3pt ;BORDER-LEFT:0.75pt solid #7fb8e6; padding-left:8pt;vertical-align:top;"> <div style="margin-top:0pt;margin-bottom:0pt;margin-left:1.00em;text-indent:-1.00em;font-size:8pt;font-family:arial;">S&amp;P Municipal Bond Index</div></td> <td style=" BORDER-LEFT:0.75pt solid #7fb8e6;vertical-align:bottom;">    </td> <td style="padding-bottom:3pt ;white-space:nowrap;vertical-align:bottom;"> </td> <td style="padding-bottom:3pt ;white-space:nowrap;vertical-align:bottom;text-align:right;">6.57</td> <td style="padding-bottom:3pt ;BORDER-RIGHT:0.75pt solid #7fb8e6;white-space:nowrap;vertical-align:bottom;">% </td> <td style="vertical-align:bottom;">    </td> <td style="padding-bottom:3pt ;white-space:nowrap;vertical-align:bottom;"> </td> <td style="padding-bottom:3pt ;white-space:nowrap;vertical-align:bottom;text-align:right;">1.14</td> <td style="padding-bottom:3pt ;white-space:nowrap;vertical-align:bottom;">% </td> <td style=" BORDER-LEFT:0.75pt solid #7fb8e6;vertical-align:bottom;">    </td> <td style="padding-bottom:3pt ;white-space:nowrap;vertical-align:bottom;"> </td> <td style="padding-bottom:3pt ;white-space:nowrap;vertical-align:bottom;text-align:right;">2.30</td> <td style="padding-bottom:3pt ;BORDER-RIGHT:0.75pt solid #7fb8e6; padding-right:2pt;white-space:nowrap;vertical-align:bottom;">% </td> </tr> <tr style="font-size:1pt"> <td style="BORDER-LEFT:0.75pt solid #7fb8e6; BORDER-TOP:0.75pt solid #7fb8e6; padding-left:8pt;height:3pt;"> </td> <td colspan="4" style="BORDER-LEFT:0.75pt solid #7fb8e6; BORDER-TOP:0.75pt solid #7fb8e6; BORDER-RIGHT:0.75pt solid #7fb8e6;height:3pt;"> </td> <td colspan="4" style="BORDER-TOP:0.75pt solid #7fb8e6;height:3pt;"> </td> <td colspan="4" style="BORDER-LEFT:0.75pt solid #7fb8e6; BORDER-TOP:0.75pt solid #7fb8e6; BORDER-RIGHT:0.75pt solid #7fb8e6;height:3pt;"> </td> </tr> <tr style="page-break-inside:avoid;font-family:arial;font-size:8pt"> <td style="padding-bottom:3pt ;BORDER-LEFT:0.75pt solid #7fb8e6; padding-left:8pt;vertical-align:top;"> <div style="margin-top:0pt;margin-bottom:0pt;margin-left:1.00em;text-indent:-1.00em;font-size:8pt;font-family:arial;">S&amp;P Municipal Bond Missouri Index</div></td> <td style=" BORDER-LEFT:0.75pt solid #7fb8e6;vertical-align:bottom;">    </td> <td style="padding-bottom:3pt ;white-space:nowrap;vertical-align:bottom;"> </td> <td style="padding-bottom:3pt ;white-space:nowrap;vertical-align:bottom;text-align:right;">7.30</td> <td style="padding-bottom:3pt ;BORDER-RIGHT:0.75pt solid #7fb8e6;white-space:nowrap;vertical-align:bottom;">% </td> <td style="vertical-align:bottom;">    </td> <td style="padding-bottom:3pt ;white-space:nowrap;vertical-align:bottom;"> </td> <td style="padding-bottom:3pt ;white-space:nowrap;vertical-align:bottom;text-align:right;">1.37</td> <td style="padding-bottom:3pt ;white-space:nowrap;vertical-align:bottom;">% </td> <td style=" BORDER-LEFT:0.75pt solid #7fb8e6;vertical-align:bottom;">    </td> <td style="padding-bottom:3pt ;white-space:nowrap;vertical-align:bottom;"> </td> <td style="padding-bottom:3pt ;white-space:nowrap;vertical-align:bottom;text-align:right;">2.43</td> <td style="padding-bottom:3pt ;BORDER-RIGHT:0.75pt solid #7fb8e6; padding-right:2pt;white-space:nowrap;vertical-align:bottom;">% </td> </tr> <tr style="font-size:1pt"> <td style="BORDER-LEFT:0.75pt solid #7fb8e6; BORDER-TOP:0.75pt solid #7fb8e6; padding-left:8pt;height:3pt;"> </td> <td colspan="4" style="BORDER-LEFT:0.75pt solid #7fb8e6; BORDER-TOP:0.75pt solid #7fb8e6; BORDER-RIGHT:0.75pt solid #7fb8e6;height:3pt;"> </td> <td colspan="4" style="BORDER-TOP:0.75pt solid #7fb8e6;height:3pt;"> </td> <td colspan="4" style="BORDER-LEFT:0.75pt solid #7fb8e6; BORDER-TOP:0.75pt solid #7fb8e6; BORDER-RIGHT:0.75pt solid #7fb8e6;height:3pt;"> </td> </tr> <tr style="page-break-inside:avoid;font-family:arial;font-size:8pt"> <td style="padding-bottom:3pt ;BORDER-LEFT:0.75pt solid #7fb8e6; BORDER-BOTTOM:0.75pt solid #7fb8e6; padding-left:8pt;vertical-align:top;"> <div style="margin-top:0pt;margin-bottom:0pt;margin-left:1.00em;text-indent:-1.00em;font-size:8pt;font-family:arial;">Lipper Other States Municipal Debt Funds Classification Average</div></td> <td style=" BORDER-LEFT:0.75pt solid #7fb8e6; BORDER-BOTTOM:0.75pt solid #7fb8e6;vertical-align:bottom;">    </td> <td style="padding-bottom:3pt ;BORDER-BOTTOM:0.75pt solid #7fb8e6;white-space:nowrap;vertical-align:bottom;"> </td> <td style="padding-bottom:3pt ;BORDER-BOTTOM:0.75pt solid #7fb8e6;white-space:nowrap;vertical-align:bottom;text-align:right;">7.08</td> <td style="padding-bottom:3pt ;BORDER-RIGHT:0.75pt solid #7fb8e6; BORDER-BOTTOM:0.75pt solid #7fb8e6;white-space:nowrap;vertical-align:bottom;">% </td> <td style=" BORDER-BOTTOM:0.75pt solid #7fb8e6;vertical-align:bottom;">    </td> <td style="padding-bottom:3pt ;BORDER-BOTTOM:0.75pt solid #7fb8e6;white-space:nowrap;vertical-align:bottom;"> </td> <td style="padding-bottom:3pt ;BORDER-BOTTOM:0.75pt solid #7fb8e6;white-space:nowrap;vertical-align:bottom;text-align:right;">0.43</td> <td style="padding-bottom:3pt ;BORDER-BOTTOM:0.75pt solid #7fb8e6;white-space:nowrap;vertical-align:bottom;">% </td> <td style=" BORDER-LEFT:0.75pt solid #7fb8e6; BORDER-BOTTOM:0.75pt solid #7fb8e6;vertical-align:bottom;">    </td> <td style="padding-bottom:3pt ;BORDER-BOTTOM:0.75pt solid #7fb8e6;white-space:nowrap;vertical-align:bottom;"> </td> <td style="padding-bottom:3pt ;BORDER-BOTTOM:0.75pt solid #7fb8e6;white-space:nowrap;vertical-align:bottom;text-align:right;">1.54</td> <td style="padding-bottom:3pt ;BORDER-RIGHT:0.75pt solid #7fb8e6; BORDER-BOTTOM:0.75pt solid #7fb8e6; padding-right:2pt;white-space:nowrap;vertical-align:bottom;">% </td> </tr> </table> Class A Shares at NAV (excluding maximum sales charge) 0.0690 0.0079 0.0208 Class A Shares at maximum sales charge (Offering Price) 0.0245 -0.0007 0.0164 S&P Municipal Bond Index 0.0657 0.0114 0.0230 S&P Municipal Bond Missouri Index 0.0730 0.0137 0.0243 Lipper Other States Municipal Debt Funds Classification Average 0.0708 0.0043 0.0154 For most recent month-end performance, go to https://www.nuveen.com/en-us/mutual-funds/prospectuses or call (800) 257‑8787. <div style="margin-top:0pt;margin-bottom:0pt;margin-left:2%;font-size:11pt;font-family:arial;"><span style="color:#0071ce"><span style="font-weight:bold">Fund Statistics (as of May 31, 2026) </span></span></div> <table cellpadding="0" cellspacing="0" style="border-collapse:collapse;font-family:arial;font-size:8pt;width:96%;border-spacing:0px;margin:0 auto"> <tr> <td style="width:87%;"></td> <td style="vertical-align:bottom;width:2%;"></td> <td></td> <td></td> <td style="vertical-align:bottom;width:2%;"></td> </tr> <tr style="font-size:1pt"> <td style="height:3pt;"></td> <td colspan="4" style="height:3pt;"></td> </tr> <tr style="page-break-inside:avoid;font-family:arial;font-size:8pt"> <td style="padding-bottom:3pt ;BORDER-BOTTOM:0.75pt solid #7fb8e6;vertical-align:top;"> <div style="margin-top:0pt;margin-bottom:0pt;margin-left:1.00em;text-indent:-1.00em;font-size:8pt;font-family:arial;">Fund net assets</div></td> <td style=" BORDER-BOTTOM:0.75pt solid #7fb8e6;vertical-align:bottom;">  </td> <td style="padding-bottom:3pt ;BORDER-BOTTOM:0.75pt solid #7fb8e6;white-space:nowrap;vertical-align:bottom;">$</td> <td style="padding-bottom:3pt ;BORDER-BOTTOM:0.75pt solid #7fb8e6;white-space:nowrap;vertical-align:bottom;text-align:right;">504,501,374</td> <td style="padding-bottom:3pt ;BORDER-BOTTOM:0.75pt solid #7fb8e6;white-space:nowrap;vertical-align:bottom;"> </td> </tr> <tr style="font-size:1pt"> <td style="height:3pt;"></td> <td colspan="4" style="height:3pt;"></td> </tr> <tr style="page-break-inside:avoid;font-family:arial;font-size:8pt"> <td style="padding-bottom:3pt ;BORDER-BOTTOM:0.75pt solid #7fb8e6;vertical-align:top;"> <div style="margin-top:0pt;margin-bottom:0pt;margin-left:1.00em;text-indent:-1.00em;font-size:8pt;font-family:arial;">Total number of portfolio holdings</div></td> <td style=" BORDER-BOTTOM:0.75pt solid #7fb8e6;vertical-align:bottom;">  </td> <td style="padding-bottom:3pt ;BORDER-BOTTOM:0.75pt solid #7fb8e6;white-space:nowrap;vertical-align:bottom;"> </td> <td style="padding-bottom:3pt ;BORDER-BOTTOM:0.75pt solid #7fb8e6;white-space:nowrap;vertical-align:bottom;text-align:right;">251</td> <td style="padding-bottom:3pt ;BORDER-BOTTOM:0.75pt solid #7fb8e6;white-space:nowrap;vertical-align:bottom;"> </td> </tr> <tr style="font-size:1pt"> <td style="height:3pt;"></td> <td colspan="4" style="height:3pt;"></td> </tr> <tr style="page-break-inside:avoid;font-family:arial;font-size:8pt"> <td style="padding-bottom:3pt ;BORDER-BOTTOM:0.75pt solid #7fb8e6;vertical-align:top;"> <div style="margin-top:0pt;margin-bottom:0pt;margin-left:1.00em;text-indent:-1.00em;font-size:8pt;font-family:arial;">Portfolio turnover (%)</div></td> <td style=" BORDER-BOTTOM:0.75pt solid #7fb8e6;vertical-align:bottom;">  </td> <td style="padding-bottom:3pt ;BORDER-BOTTOM:0.75pt solid #7fb8e6;white-space:nowrap;vertical-align:bottom;"> </td> <td style="padding-bottom:3pt ;BORDER-BOTTOM:0.75pt solid #7fb8e6;white-space:nowrap;vertical-align:bottom;text-align:right;">7%</td> <td style="padding-bottom:3pt ;BORDER-BOTTOM:0.75pt solid #7fb8e6;white-space:nowrap;vertical-align:bottom;"> </td> </tr> <tr style="font-size:1pt"> <td style="height:3pt;"></td> <td colspan="4" style="height:3pt;"></td> </tr> <tr style="page-break-inside:avoid;font-family:arial;font-size:8pt"> <td style="padding-bottom:3pt ;BORDER-BOTTOM:0.75pt solid #7fb8e6;vertical-align:top;"> <div style="margin-top:0pt;margin-bottom:0pt;margin-left:1.00em;text-indent:-1.00em;font-size:8pt;font-family:arial;">Total management fees paid for the year</div></td> <td style=" BORDER-BOTTOM:0.75pt solid #7fb8e6;vertical-align:bottom;">  </td> <td style="padding-bottom:3pt ;BORDER-BOTTOM:0.75pt solid #7fb8e6;white-space:nowrap;vertical-align:bottom;">$</td> <td style="padding-bottom:3pt ;BORDER-BOTTOM:0.75pt solid #7fb8e6;white-space:nowrap;vertical-align:bottom;text-align:right;">2,457,683</td> <td style="padding-bottom:3pt ;BORDER-BOTTOM:0.75pt solid #7fb8e6;white-space:nowrap;vertical-align:bottom;"> </td> </tr> </table> 504501374 251 0.07 2457683 <table cellpadding="0" cellspacing="0" style="border-collapse:collapse;font-family:arial;font-size:9pt;width:100%;border-spacing:0px;margin:0 auto"> <tr> <td style="width:50%;"></td> <td style="vertical-align:bottom;width:1%;"></td> <td style="width:49%;"></td> </tr> <tr style="page-break-inside:avoid;font-family:arial;font-size:9pt"> <td style="vertical-align:top;"> <div style="margin-top:0pt;margin-bottom:0pt;margin-left:1.11em;margin-right:1.11em;"> <img alt="LOGO" src="g133061g05t13.jpg"/> </div></td> <td style="vertical-align:bottom;"> </td> <td style="vertical-align:top;"> <div style="margin-top:0pt;margin-bottom:0pt;margin-left:1.11em;margin-right:1.11em;"> <img alt="LOGO" src="g133061g47n14.jpg"/> </div></td> </tr> </table> <table cellpadding="0" cellspacing="0" style="border-collapse:collapse;font-family:arial;font-size:8pt;border-spacing:0px;width:100%"> <tr style="page-break-inside:avoid"> <td style="width:1%;"> </td> <td style="width:4%;vertical-align:top;text-align:left;">(1)</td> <td style="vertical-align:top;text-align:left;"> <div style="margin-top:0pt;margin-bottom:0pt;font-size:8pt;font-family:arial;text-align:left;">The ratings disclosed are the highest rating given by one of the following national rating agencies: Standard &amp; Poor’s (S&amp;P), Moody’s Investors Service, Inc. (Moody’s) or Fitch, Inc (Fitch). This treatment of split-rated securities may differ from that used for other purposes, such as for Fund investment policies. Credit ratings are subject to change. AAA, AA, A, and BBB are investment grade ratings; BB, B, CCC, CC, C and D are below-investment grade ratings. Holdings designated N/R are not rated by these national ratings agencies. </div></td> </tr></table> The ratings disclosed are the highest rating given by one of the following national rating agencies: Standard &amp; Poor’s (S&amp;P), Moody’s Investors Service, Inc. (Moody’s) or Fitch, Inc (Fitch). This treatment of split-rated securities may differ from that used for other purposes, such as for Fund investment policies. Credit ratings are subject to change. AAA, AA, A, and BBB are investment grade ratings; BB, B, CCC, CC, C and D are below-investment grade ratings. Holdings designated N/R are not rated by these national ratings agencies. <div style="margin-top:0pt;margin-bottom:0pt;margin-left:2%;font-size:11pt;font-family:arial;"><span style="color:#0071ce"><span style="font-weight:bold">How has the Fund changed? </span></span></div><div style="margin-top:6pt;margin-bottom:0pt;margin-left:2%;font-size:9pt;font-family:arial;font-weight:bold;">For more complete information, you may review the Fund’s next prospectus, which is expected to be available by September 30, 2026 at https://www.nuveen.com/en-us/mutual-funds/prospectuses or upon request at (800) 257-8787. </div> <div style="margin-top:6pt;margin-bottom:0pt;margin-left:2%;font-size:9pt;font-family:arial;font-weight:bold;">For more complete information, you may review the Fund’s next prospectus, which is expected to be available by September 30, 2026 at https://www.nuveen.com/en-us/mutual-funds/prospectuses or upon request at (800) 257-8787. </div> https://www.nuveen.com/en-us/mutual-funds/prospectuses (800) 257-8787 Nuveen Missouri Municipal Bond Fund Class C Shares FAFPX This annual shareholder report contains important information about the Class C Shares of the Nuveen Missouri Municipal Bond Fund for the period of June 1, 2025 to May 31, 2026. annual shareholder report You can find additional information at https://www.nuveen.com/en-us/mutual-funds/prospectuses. You can also request this information by contacting us at (800) 257-8787. https://www.nuveen.com/en-us/mutual-funds/prospectuses (800) 257-8787 <div style="font-size: 9pt; font-family: arial; font-weight: bold; margin: 18pt 2% 0pt 2%;">This report describes changes to the Fund that occurred during the reporting period.</div> <div style="margin-top: 0pt; margin-bottom: 0pt; margin-left: 2%; font-size: 11pt; font-family: arial;"><span style="color: #0071ce;"><span style="font-weight: bold;">What were the Fund costs for the last year? </span></span><span style="font-family: arial;">(based on a hypothetical $10,000 investment)</span><span style="font-family: arial; color: #0071ce;"><span style="font-weight: bold;"> </span></span></div> <table cellpadding="0" cellspacing="0" style="border-collapse: collapse; font-family: arial; font-size: 8pt; width: 96%; border-spacing: 0px; margin: 0 auto;"> <tr> <td style="width: 33%;"></td> <td style="vertical-align: bottom;"></td> <td style="width: 33%;"></td> <td style="vertical-align: bottom;"></td> <td style="width: 32%;"></td> </tr> <tr style="font-size: 1pt;"> <td style="height: 3pt;"></td> <td colspan="2" style="border-left: 0.75pt solid #7fb8e6; border-top: 0.75pt solid #7fb8e6; height: 3pt;"> </td> <td colspan="2" style="border-left: 0.75pt solid #7fb8e6; border-top: 0.75pt solid #7fb8e6; border-right: 0.75pt solid #7fb8e6; height: 3pt;"> </td> </tr> <tr style="page-break-inside: avoid; font-family: arial; font-size: 8pt;"> <td style="vertical-align: bottom;"> </td> <td style="border-left: 0.75pt solid #7fb8e6; vertical-align: bottom;"> </td> <td style="padding-bottom: 3pt; vertical-align: middle; text-align: right;"><span style="font-weight: bold;">Cost of a $10,000 investment </span></td> <td style="border-left: 0.75pt solid #7fb8e6; vertical-align: bottom;"> </td> <td style="padding-bottom: 3pt; border-right: 0.75pt solid #7fb8e6; padding-right: 2pt; vertical-align: bottom; text-align: right;"><span style="font-weight: bold;">Costs paid as a percentage of<br/>$10,000 investment*</span></td> </tr> <tr style="font-size: 1pt;"> <td style="border-left: 0.75pt solid #7fb8e6; border-top: 0.75pt solid #7fb8e6; padding-left: 8pt; height: 3pt;"> </td> <td colspan="2" style="border-left: 0.75pt solid #7fb8e6; border-top: 0.75pt solid #7fb8e6; height: 3pt;"> </td> <td colspan="2" style="border-left: 0.75pt solid #7fb8e6; border-top: 0.75pt solid #7fb8e6; border-right: 0.75pt solid #7fb8e6; height: 3pt;"> </td> </tr> <tr style="page-break-inside: avoid; font-family: arial; font-size: 8pt;"> <td style="padding-bottom: 3pt; border-left: 0.75pt solid #7fb8e6; border-bottom: 0.75pt solid #7fb8e6; padding-left: 8pt; vertical-align: top;"> <div style="margin-top: 0pt; margin-bottom: 0pt; margin-left: 1.00em; text-indent: -1.00em; font-size: 8pt; font-family: arial;">Class C Shares</div> </td> <td style="border-left: 0.75pt solid #7fb8e6; border-bottom: 0.75pt solid #7fb8e6; vertical-align: bottom;"> </td> <td style="padding-bottom: 3pt; border-bottom: 0.75pt solid #7fb8e6; vertical-align: bottom; white-space: nowrap; text-align: right;">$162 </td> <td style="border-left: 0.75pt solid #7fb8e6; border-bottom: 0.75pt solid #7fb8e6; vertical-align: bottom;"> </td> <td style="padding-bottom: 3pt; border-right: 0.75pt solid #7fb8e6; border-bottom: 0.75pt solid #7fb8e6; padding-right: 2pt; vertical-align: bottom; white-space: nowrap; text-align: right;">1.57%</td> </tr> </table> <table cellpadding="0" cellspacing="0" style="border-collapse: collapse; font-family: arial; font-size: 8pt; border-spacing: 0px; width: 100%;"> <tr style="page-break-inside: avoid;"> <td style="width: 3%;"> </td> <td style="width: 1%; vertical-align: top; text-align: right;">*</td> <td style="width: 1%; vertical-align: top;"> </td> <td style="vertical-align: top; text-align: left;"> <div style="margin-top: 0pt; margin-bottom: 0pt; font-family: arial; font-size: 8pt; text-align: justify;">Annualized for period less than one year.</div> </td> <td style="width: 2%;"> </td> </tr> </table> 162 0.0157 <div style="margin-top: 0pt; margin-bottom: 0pt; margin-left: 2%; font-size: 11pt; font-family: arial;"><span style="color: #0071ce;"><span style="font-weight: bold;">How did the Fund perform last year? What affected the Fund’s performance? </span></span></div> <table cellpadding="0" cellspacing="0" style="border-collapse: collapse; font-family: arial; font-size: 9pt; width: 96%; border-spacing: 0px; margin: 0 auto;"> <tr> <td style="width: 100%;"></td> </tr> <tr style="page-break-inside: avoid; font-family: arial; font-size: 9pt;"> <td style="vertical-align: top;"> <div style="margin-top: 0pt; margin-bottom: 0pt; font-size: 9pt; font-family: arial; font-weight: bold;">Performance Highlights</div> <div style="font-size: 6pt; margin-top: 0pt; margin-bottom: 0pt;"> </div> <div style="margin-top: 0pt; margin-bottom: 0pt; margin-right: 1.11em; font-size: 9pt; font-family: arial;">The Nuveen Missouri Municipal Bond Fund returned 6.06% for Class C Shares at net asset value (NAV) for the 12 months ended May 31, 2026. The Fund underperformed the S&amp;P Municipal Bond Missouri Index, which returned 7.30%.</div> <div style="font-size: 6pt; margin-top: 0pt; margin-bottom: 0pt;"> </div> <div style="margin-top: 0pt; margin-bottom: 0pt; margin-right: 1.11em; font-size: 9pt; font-family: arial;">Top contributors to relative performance</div> <div style="font-size: 6pt; margin-top: 0pt; margin-bottom: 0pt;"> </div> <div style="margin-top: 0pt; margin-bottom: 0pt; margin-right: 1.67em; display: table-row;"> <div style="display: table-cell;"> <div style="margin-top: 0pt; margin-bottom: 0pt; margin-left: 2.222222em; font-family: arial;">•</div> </div> <div style="display: table-cell;"> <div style="margin-top: 0pt; margin-bottom: 0pt; margin-left: 0.538889em; font-family: arial;">Duration positioning, especially an overweight to bonds with durations of 10 years and longer and an underweight to bonds with durations of six years and shorter.</div> </div> </div> <div style="font-size: 6pt; margin-top: 0pt; margin-bottom: 0pt;"> </div> <div style="margin-top: 0pt; margin-bottom: 0pt; margin-right: 1.11em; font-size: 9pt; font-family: arial;">Top detractors from relative performance</div> <div style="font-size: 6pt; margin-top: 0pt; margin-bottom: 0pt;"> </div> <div style="margin-top: 0pt; margin-bottom: 0pt; margin-right: 1.67em; display: table-row;"> <div style="display: table-cell;"> <div style="margin-top: 0pt; margin-bottom: 0pt; margin-left: 2.222222em; font-family: arial;">•</div> </div> <div style="display: table-cell;"> <div style="margin-top: 0pt; margin-bottom: 0pt; margin-left: 0.538889em; font-family: arial;">Security selection.</div> </div> </div> <div style="font-size: 6pt; margin-top: 0pt; margin-bottom: 0pt;"> </div> <div style="margin-top: 0pt; margin-bottom: 0pt; margin-right: 1.67em; display: table-row;"> <div style="display: table-cell;"> <div style="margin-top: 0pt; margin-bottom: 0pt; margin-left: 2.222222em; font-family: arial;">•</div> </div> <div style="display: table-cell;"> <div style="margin-top: 0pt; margin-bottom: 0pt; margin-left: 0.538889em; font-family: arial;">Shorter-duration health care bonds.</div> </div> </div> </td> </tr> </table> Performance data shown represents past performance and does not predict or guarantee future results. The<span style="font-weight: bold;"> </span>graph and table do not reflect the deduction of taxes that a shareholder would pay on Fund distributions or redemption of Fund Shares. <div style="margin: 0pt 2% 0pt 2%;"> <img alt="LOGO" src="g133061g32g32.jpg"/> </div> <div style="font-size: 9pt; font-family: arial; font-weight: bold; margin: 0pt 2% 0pt 2%;">Average Annual Total Returns</div> <table cellpadding="0" cellspacing="0" style="border-collapse: collapse; font-family: arial; font-size: 8pt; width: 96%; border-spacing: 0px; margin: 0 auto;"> <tr> <td style="width: 64%;"></td> <td style="vertical-align: bottom; width: 6%;"></td> <td></td> <td></td> <td style="vertical-align: bottom; width: 3%;"></td> <td style="vertical-align: bottom; width: 6%;"></td> <td></td> <td></td> <td style="vertical-align: bottom; width: 3%;"></td> <td style="vertical-align: bottom; width: 6%;"></td> <td></td> <td></td> <td style="vertical-align: bottom; width: 3%;"></td> </tr> <tr style="font-size: 1pt;"> <td style="height: 3pt;"></td> <td colspan="4" style="border-left: 0.75pt solid #7fb8e6; border-top: 0.75pt solid #7fb8e6; border-right: 0.75pt solid #7fb8e6; height: 3pt;"> </td> <td colspan="4" style="border-top: 0.75pt solid #7fb8e6; height: 3pt;"> </td> <td colspan="4" style="border-left: 0.75pt solid #7fb8e6; border-top: 0.75pt solid #7fb8e6; border-right: 0.75pt solid #7fb8e6; height: 3pt;"> </td> </tr> <tr style="page-break-inside: avoid; font-family: arial; font-size: 8pt;"> <td style="vertical-align: top;"> </td> <td style="border-left: 0.75pt solid #7fb8e6; vertical-align: bottom;">    </td> <td colspan="2" style="padding-bottom: 3pt; vertical-align: bottom; white-space: nowrap; text-align: center;"><span style="font-weight: bold;">1-Year</span></td> <td style="border-right: 0.75pt solid #7fb8e6; vertical-align: bottom;"> </td> <td style="vertical-align: bottom;">    </td> <td colspan="2" style="padding-bottom: 3pt; vertical-align: bottom; white-space: nowrap; text-align: center;"><span style="font-weight: bold;">5-Year</span></td> <td style="vertical-align: bottom;"> </td> <td style="border-left: 0.75pt solid #7fb8e6; vertical-align: bottom;">    </td> <td colspan="2" style="padding-bottom: 3pt; vertical-align: bottom; white-space: nowrap; text-align: center;"><span style="font-weight: bold;">10-Year</span></td> <td style="border-right: 0.75pt solid #7fb8e6; padding-right: 2pt; vertical-align: bottom;"> </td> </tr> <tr style="font-size: 1pt;"> <td style="border-left: 0.75pt solid #7fb8e6; border-top: 0.75pt solid #7fb8e6; padding-left: 8pt; height: 3pt;"> </td> <td colspan="4" style="border-left: 0.75pt solid #7fb8e6; border-top: 0.75pt solid #7fb8e6; border-right: 0.75pt solid #7fb8e6; height: 3pt;"> </td> <td colspan="4" style="border-top: 0.75pt solid #7fb8e6; height: 3pt;"> </td> <td colspan="4" style="border-left: 0.75pt solid #7fb8e6; border-top: 0.75pt solid #7fb8e6; border-right: 0.75pt solid #7fb8e6; height: 3pt;"> </td> </tr> <tr style="page-break-inside: avoid; font-family: arial; font-size: 8pt;"> <td style="padding-bottom: 3pt; border-left: 0.75pt solid #7fb8e6; padding-left: 8pt; vertical-align: top;"> <div style="margin-top: 0pt; margin-bottom: 0pt; margin-left: 1.00em; text-indent: -1.00em; font-size: 8pt; font-family: arial;">Class C Shares at NAV (excluding maximum sales charge)</div> </td> <td style="border-left: 0.75pt solid #7fb8e6; vertical-align: bottom;">    </td> <td style="padding-bottom: 3pt; white-space: nowrap; vertical-align: bottom;"> </td> <td style="padding-bottom: 3pt; white-space: nowrap; vertical-align: bottom; text-align: right;">6.06</td> <td style="padding-bottom: 3pt; border-right: 0.75pt solid #7fb8e6; white-space: nowrap; vertical-align: bottom;">% </td> <td style="vertical-align: bottom;">    </td> <td style="padding-bottom: 3pt; white-space: nowrap; vertical-align: bottom;"> </td> <td style="padding-bottom: 3pt; white-space: nowrap; vertical-align: bottom; text-align: right;">(0.02</td> <td style="padding-bottom: 3pt; white-space: nowrap; vertical-align: bottom;">)% </td> <td style="border-left: 0.75pt solid #7fb8e6; vertical-align: bottom;">    </td> <td style="padding-bottom: 3pt; white-space: nowrap; vertical-align: bottom;"> </td> <td style="padding-bottom: 3pt; white-space: nowrap; vertical-align: bottom; text-align: right;">1.43</td> <td style="padding-bottom: 3pt; border-right: 0.75pt solid #7fb8e6; padding-right: 2pt; white-space: nowrap; vertical-align: bottom;">% </td> </tr> <tr style="font-size: 1pt;"> <td style="border-left: 0.75pt solid #7fb8e6; border-top: 0.75pt solid #7fb8e6; padding-left: 8pt; height: 3pt;"> </td> <td colspan="4" style="border-left: 0.75pt solid #7fb8e6; border-top: 0.75pt solid #7fb8e6; border-right: 0.75pt solid #7fb8e6; height: 3pt;"> </td> <td colspan="4" style="border-top: 0.75pt solid #7fb8e6; height: 3pt;"> </td> <td colspan="4" style="border-left: 0.75pt solid #7fb8e6; border-top: 0.75pt solid #7fb8e6; border-right: 0.75pt solid #7fb8e6; height: 3pt;"> </td> </tr> <tr style="page-break-inside: avoid; font-family: arial; font-size: 8pt;"> <td style="padding-bottom: 3pt; border-left: 0.75pt solid #7fb8e6; padding-left: 8pt; vertical-align: top;"> <div style="margin-top: 0pt; margin-bottom: 0pt; margin-left: 1.00em; text-indent: -1.00em; font-size: 8pt; font-family: arial;">S&amp;P Municipal Bond Index</div> </td> <td style="border-left: 0.75pt solid #7fb8e6; vertical-align: bottom;">    </td> <td style="padding-bottom: 3pt; white-space: nowrap; vertical-align: bottom;"> </td> <td style="padding-bottom: 3pt; white-space: nowrap; vertical-align: bottom; text-align: right;">6.57</td> <td style="padding-bottom: 3pt; border-right: 0.75pt solid #7fb8e6; white-space: nowrap; vertical-align: bottom;">% </td> <td style="vertical-align: bottom;">    </td> <td style="padding-bottom: 3pt; white-space: nowrap; vertical-align: bottom;"> </td> <td style="padding-bottom: 3pt; white-space: nowrap; vertical-align: bottom; text-align: right;">1.14</td> <td style="padding-bottom: 3pt; white-space: nowrap; vertical-align: bottom;">% </td> <td style="border-left: 0.75pt solid #7fb8e6; vertical-align: bottom;">    </td> <td style="padding-bottom: 3pt; white-space: nowrap; vertical-align: bottom;"> </td> <td style="padding-bottom: 3pt; white-space: nowrap; vertical-align: bottom; text-align: right;">2.30</td> <td style="padding-bottom: 3pt; border-right: 0.75pt solid #7fb8e6; padding-right: 2pt; white-space: nowrap; vertical-align: bottom;">% </td> </tr> <tr style="font-size: 1pt;"> <td style="border-left: 0.75pt solid #7fb8e6; border-top: 0.75pt solid #7fb8e6; padding-left: 8pt; height: 3pt;"> </td> <td colspan="4" style="border-left: 0.75pt solid #7fb8e6; border-top: 0.75pt solid #7fb8e6; border-right: 0.75pt solid #7fb8e6; height: 3pt;"> </td> <td colspan="4" style="border-top: 0.75pt solid #7fb8e6; height: 3pt;"> </td> <td colspan="4" style="border-left: 0.75pt solid #7fb8e6; border-top: 0.75pt solid #7fb8e6; border-right: 0.75pt solid #7fb8e6; height: 3pt;"> </td> </tr> <tr style="page-break-inside: avoid; font-family: arial; font-size: 8pt;"> <td style="padding-bottom: 3pt; border-left: 0.75pt solid #7fb8e6; padding-left: 8pt; vertical-align: top;"> <div style="margin-top: 0pt; margin-bottom: 0pt; margin-left: 1.00em; text-indent: -1.00em; font-size: 8pt; font-family: arial;">S&amp;P Municipal Bond Missouri Index</div> </td> <td style="border-left: 0.75pt solid #7fb8e6; vertical-align: bottom;">    </td> <td style="padding-bottom: 3pt; white-space: nowrap; vertical-align: bottom;"> </td> <td style="padding-bottom: 3pt; white-space: nowrap; vertical-align: bottom; text-align: right;">7.30</td> <td style="padding-bottom: 3pt; border-right: 0.75pt solid #7fb8e6; white-space: nowrap; vertical-align: bottom;">% </td> <td style="vertical-align: bottom;">    </td> <td style="padding-bottom: 3pt; white-space: nowrap; vertical-align: bottom;"> </td> <td style="padding-bottom: 3pt; white-space: nowrap; vertical-align: bottom; text-align: right;">1.37</td> <td style="padding-bottom: 3pt; white-space: nowrap; vertical-align: bottom;">% </td> <td style="border-left: 0.75pt solid #7fb8e6; vertical-align: bottom;">    </td> <td style="padding-bottom: 3pt; white-space: nowrap; vertical-align: bottom;"> </td> <td style="padding-bottom: 3pt; white-space: nowrap; vertical-align: bottom; text-align: right;">2.43</td> <td style="padding-bottom: 3pt; border-right: 0.75pt solid #7fb8e6; padding-right: 2pt; white-space: nowrap; vertical-align: bottom;">% </td> </tr> <tr style="font-size: 1pt;"> <td style="border-left: 0.75pt solid #7fb8e6; border-top: 0.75pt solid #7fb8e6; padding-left: 8pt; height: 3pt;"> </td> <td colspan="4" style="border-left: 0.75pt solid #7fb8e6; border-top: 0.75pt solid #7fb8e6; border-right: 0.75pt solid #7fb8e6; height: 3pt;"> </td> <td colspan="4" style="border-top: 0.75pt solid #7fb8e6; height: 3pt;"> </td> <td colspan="4" style="border-left: 0.75pt solid #7fb8e6; border-top: 0.75pt solid #7fb8e6; border-right: 0.75pt solid #7fb8e6; height: 3pt;"> </td> </tr> <tr style="page-break-inside: avoid; font-family: arial; font-size: 8pt;"> <td style="padding-bottom: 3pt; border-left: 0.75pt solid #7fb8e6; border-bottom: 0.75pt solid #7fb8e6; padding-left: 8pt; vertical-align: top;"> <div style="margin-top: 0pt; margin-bottom: 0pt; margin-left: 1.00em; text-indent: -1.00em; font-size: 8pt; font-family: arial;">Lipper Other States Municipal Debt Funds Classification Average</div> </td> <td style="border-left: 0.75pt solid #7fb8e6; border-bottom: 0.75pt solid #7fb8e6; vertical-align: bottom;">    </td> <td style="padding-bottom: 3pt; border-bottom: 0.75pt solid #7fb8e6; white-space: nowrap; vertical-align: bottom;"> </td> <td style="padding-bottom: 3pt; border-bottom: 0.75pt solid #7fb8e6; white-space: nowrap; vertical-align: bottom; text-align: right;">7.08</td> <td style="padding-bottom: 3pt; border-right: 0.75pt solid #7fb8e6; border-bottom: 0.75pt solid #7fb8e6; white-space: nowrap; vertical-align: bottom;">% </td> <td style="border-bottom: 0.75pt solid #7fb8e6; vertical-align: bottom;">    </td> <td style="padding-bottom: 3pt; border-bottom: 0.75pt solid #7fb8e6; white-space: nowrap; vertical-align: bottom;"> </td> <td style="padding-bottom: 3pt; border-bottom: 0.75pt solid #7fb8e6; white-space: nowrap; vertical-align: bottom; text-align: right;">0.43</td> <td style="padding-bottom: 3pt; border-bottom: 0.75pt solid #7fb8e6; white-space: nowrap; vertical-align: bottom;">% </td> <td style="border-left: 0.75pt solid #7fb8e6; border-bottom: 0.75pt solid #7fb8e6; vertical-align: bottom;">    </td> <td style="padding-bottom: 3pt; border-bottom: 0.75pt solid #7fb8e6; white-space: nowrap; vertical-align: bottom;"> </td> <td style="padding-bottom: 3pt; border-bottom: 0.75pt solid #7fb8e6; white-space: nowrap; vertical-align: bottom; text-align: right;">1.54</td> <td style="padding-bottom: 3pt; border-right: 0.75pt solid #7fb8e6; border-bottom: 0.75pt solid #7fb8e6; padding-right: 2pt; white-space: nowrap; vertical-align: bottom;">% </td> </tr> </table> Class C Shares at NAV (excluding maximum sales charge) 0.0606 -0.0002 0.0143 S&P Municipal Bond Index 0.0657 0.0114 0.0230 S&P Municipal Bond Missouri Index 0.0730 0.0137 0.0243 Lipper Other States Municipal Debt Funds Classification Average 0.0708 0.0043 0.0154 For most recent month-end performance, go to https://www.nuveen.com/en-us/mutual-funds/prospectuses or call (800) 257‑8787. <div style="margin-top: 0pt; margin-bottom: 0pt; margin-left: 2%; font-size: 11pt; font-family: arial;"><span style="color: #0071ce;"><span style="font-weight: bold;">Fund Statistics (as of May 31, 2026) </span></span></div> <table cellpadding="0" cellspacing="0" style="border-collapse: collapse; font-family: arial; font-size: 8pt; width: 96%; border-spacing: 0px; margin: 0 auto;"> <tr> <td style="width: 87%;"></td> <td style="vertical-align: bottom; width: 2%;"></td> <td></td> <td></td> <td style="vertical-align: bottom; width: 2%;"></td> </tr> <tr style="font-size: 1pt;"> <td style="height: 3pt;"></td> <td colspan="4" style="height: 3pt;"></td> </tr> <tr style="page-break-inside: avoid; font-family: arial; font-size: 8pt;"> <td style="padding-bottom: 3pt; border-bottom: 0.75pt solid #7fb8e6; vertical-align: top;"> <div style="margin-top: 0pt; margin-bottom: 0pt; margin-left: 1.00em; text-indent: -1.00em; font-size: 8pt; font-family: arial;">Fund net assets</div> </td> <td style="border-bottom: 0.75pt solid #7fb8e6; vertical-align: bottom;">  </td> <td style="padding-bottom: 3pt; border-bottom: 0.75pt solid #7fb8e6; white-space: nowrap; vertical-align: bottom;">$</td> <td style="padding-bottom: 3pt; border-bottom: 0.75pt solid #7fb8e6; white-space: nowrap; vertical-align: bottom; text-align: right;">504,501,374</td> <td style="padding-bottom: 3pt; border-bottom: 0.75pt solid #7fb8e6; white-space: nowrap; vertical-align: bottom;"> </td> </tr> <tr style="font-size: 1pt;"> <td style="height: 3pt;"></td> <td colspan="4" style="height: 3pt;"></td> </tr> <tr style="page-break-inside: avoid; font-family: arial; font-size: 8pt;"> <td style="padding-bottom: 3pt; border-bottom: 0.75pt solid #7fb8e6; vertical-align: top;"> <div style="margin-top: 0pt; margin-bottom: 0pt; margin-left: 1.00em; text-indent: -1.00em; font-size: 8pt; font-family: arial;">Total number of portfolio holdings</div> </td> <td style="border-bottom: 0.75pt solid #7fb8e6; vertical-align: bottom;">  </td> <td style="padding-bottom: 3pt; border-bottom: 0.75pt solid #7fb8e6; white-space: nowrap; vertical-align: bottom;"> </td> <td style="padding-bottom: 3pt; border-bottom: 0.75pt solid #7fb8e6; white-space: nowrap; vertical-align: bottom; text-align: right;">251</td> <td style="padding-bottom: 3pt; border-bottom: 0.75pt solid #7fb8e6; white-space: nowrap; vertical-align: bottom;"> </td> </tr> <tr style="font-size: 1pt;"> <td style="height: 3pt;"></td> <td colspan="4" style="height: 3pt;"></td> </tr> <tr style="page-break-inside: avoid; font-family: arial; font-size: 8pt;"> <td style="padding-bottom: 3pt; border-bottom: 0.75pt solid #7fb8e6; vertical-align: top;"> <div style="margin-top: 0pt; margin-bottom: 0pt; margin-left: 1.00em; text-indent: -1.00em; font-size: 8pt; font-family: arial;">Portfolio turnover (%)</div> </td> <td style="border-bottom: 0.75pt solid #7fb8e6; vertical-align: bottom;">  </td> <td style="padding-bottom: 3pt; border-bottom: 0.75pt solid #7fb8e6; white-space: nowrap; vertical-align: bottom;"> </td> <td style="padding-bottom: 3pt; border-bottom: 0.75pt solid #7fb8e6; white-space: nowrap; vertical-align: bottom; text-align: right;">7%</td> <td style="padding-bottom: 3pt; border-bottom: 0.75pt solid #7fb8e6; white-space: nowrap; vertical-align: bottom;"> </td> </tr> <tr style="font-size: 1pt;"> <td style="height: 3pt;"></td> <td colspan="4" style="height: 3pt;"></td> </tr> <tr style="page-break-inside: avoid; font-family: arial; font-size: 8pt;"> <td style="padding-bottom: 3pt; border-bottom: 0.75pt solid #7fb8e6; vertical-align: top;"> <div style="margin-top: 0pt; margin-bottom: 0pt; margin-left: 1.00em; text-indent: -1.00em; font-size: 8pt; font-family: arial;">Total management fees paid for the year</div> </td> <td style="border-bottom: 0.75pt solid #7fb8e6; vertical-align: bottom;">  </td> <td style="padding-bottom: 3pt; border-bottom: 0.75pt solid #7fb8e6; white-space: nowrap; vertical-align: bottom;">$</td> <td style="padding-bottom: 3pt; border-bottom: 0.75pt solid #7fb8e6; white-space: nowrap; vertical-align: bottom; text-align: right;">2,457,683</td> <td style="padding-bottom: 3pt; border-bottom: 0.75pt solid #7fb8e6; white-space: nowrap; vertical-align: bottom;"> </td> </tr> </table> 504501374 251 0.07 2457683 <table cellpadding="0" cellspacing="0" style="border-collapse: collapse; font-family: arial; font-size: 9pt; width: 100%; border-spacing: 0px; margin: 0 auto;"> <tr> <td style="width: 50%;"></td> <td style="vertical-align: bottom; width: 1%;"></td> <td style="width: 49%;"></td> </tr> <tr style="page-break-inside: avoid; font-family: arial; font-size: 9pt;"> <td style="vertical-align: top;"> <div style="margin: 0pt 1.11em 0pt 1.11em;"> <img alt="LOGO" src="g133061g38t87.jpg"/> </div> </td> <td style="vertical-align: bottom;"> </td> <td style="vertical-align: top;"> <div style="margin: 0pt 1.11em 0pt 1.11em;"> <img alt="LOGO" src="g133061g32w80.jpg"/> </div> </td> </tr> </table> <table cellpadding="0" cellspacing="0" style="border-collapse: collapse; font-family: arial; font-size: 8pt; border-spacing: 0px; width: 100%;"> <tr style="page-break-inside: avoid;"> <td style="width: 1%;"> </td> <td style="width: 4%; vertical-align: top; text-align: left;">(1)</td> <td style="vertical-align: top; text-align: left;"> <div style="margin-top: 0pt; margin-bottom: 0pt; font-size: 8pt; font-family: arial; text-align: left;">The ratings disclosed are the highest rating given by one of the following national rating agencies: Standard &amp; Poor’s (S&amp;P), Moody’s Investors Service, Inc. (Moody’s) or Fitch, Inc (Fitch). This treatment of split-rated securities may differ from that used for other purposes, such as for Fund investment policies. Credit ratings are subject to change. AAA, AA, A, and BBB are investment grade ratings; BB, B, CCC, CC, C and D are below-investment grade ratings. Holdings designated N/R are not rated by these national ratings agencies.</div> </td> </tr> </table> The ratings disclosed are the highest rating given by one of the following national rating agencies: Standard &amp; Poor’s (S&amp;P), Moody’s Investors Service, Inc. (Moody’s) or Fitch, Inc (Fitch). This treatment of split-rated securities may differ from that used for other purposes, such as for Fund investment policies. Credit ratings are subject to change. AAA, AA, A, and BBB are investment grade ratings; BB, B, CCC, CC, C and D are below-investment grade ratings. Holdings designated N/R are not rated by these national ratings agencies. <div style="margin-top: 0pt; margin-bottom: 0pt; margin-left: 2%; font-size: 11pt; font-family: arial;"><span style="color: #0071ce;"><span style="font-weight: bold;">How has the Fund changed? </span></span></div> <div style="margin-top: 6pt; margin-bottom: 0pt; margin-left: 2%; font-size: 9pt; font-family: arial; font-weight: bold;">For more complete information, you may review the Fund’s next prospectus, which is expected to be available by September 30, 2026 at https://www.nuveen.com/en-us/mutual-funds/prospectuses or upon request at (800) 257-8787.</div> <div style="margin-top: 6pt; margin-bottom: 0pt; margin-left: 2%; font-size: 9pt; font-family: arial; font-weight: bold;">For more complete information, you may review the Fund’s next prospectus, which is expected to be available by September 30, 2026 at https://www.nuveen.com/en-us/mutual-funds/prospectuses or upon request at (800) 257-8787.</div> https://www.nuveen.com/en-us/mutual-funds/prospectuses (800) 257-8787 Nuveen Missouri Municipal Bond Fund Class I Shares FMMRX This annual shareholder report contains important information about the Class I Shares of the Nuveen Missouri Municipal Bond Fund for the period of June 1, 2025 to May 31, 2026. annual shareholder report You can find additional information at https://www.nuveen.com/en-us/mutual-funds/prospectuses. You can also request this information by contacting us at (800) 257-8787. https://www.nuveen.com/en-us/mutual-funds/prospectuses (800) 257-8787 <div style="font-size: 9pt; font-family: arial; font-weight: bold; margin: 18pt 2% 0pt 2%;">This report describes changes to the Fund that occurred during the reporting period.</div> <div style="margin-top: 0pt; margin-bottom: 0pt; margin-left: 2%; font-size: 11pt; font-family: arial;"><span style="color: #0071ce;"><span style="font-weight: bold;">What were the Fund costs for the last year? </span></span><span style="font-family: arial;">(based on a hypothetical $10,000 investment)</span><span style="font-family: arial; color: #0071ce;"><span style="font-weight: bold;"> </span></span></div> <table cellpadding="0" cellspacing="0" style="border-collapse: collapse; font-family: arial; font-size: 8pt; width: 96%; border-spacing: 0px; margin: 0 auto;"> <tr> <td style="width: 33%;"></td> <td style="vertical-align: bottom;"></td> <td style="width: 33%;"></td> <td style="vertical-align: bottom;"></td> <td style="width: 32%;"></td> </tr> <tr style="font-size: 1pt;"> <td style="height: 3pt;"></td> <td colspan="2" style="border-left: 0.75pt solid #7fb8e6; border-top: 0.75pt solid #7fb8e6; height: 3pt;"> </td> <td colspan="2" style="border-left: 0.75pt solid #7fb8e6; border-top: 0.75pt solid #7fb8e6; border-right: 0.75pt solid #7fb8e6; height: 3pt;"> </td> </tr> <tr style="page-break-inside: avoid; font-family: arial; font-size: 8pt;"> <td style="vertical-align: bottom;"> </td> <td style="border-left: 0.75pt solid #7fb8e6; vertical-align: bottom;"> </td> <td style="padding-bottom: 3pt; vertical-align: middle; text-align: right;"><span style="font-weight: bold;">Cost of a $10,000 investment </span></td> <td style="border-left: 0.75pt solid #7fb8e6; vertical-align: bottom;"> </td> <td style="padding-bottom: 3pt; border-right: 0.75pt solid #7fb8e6; padding-right: 2pt; vertical-align: bottom; text-align: right;"><span style="font-weight: bold;">Costs paid as a percentage of<br/>$10,000 investment*</span></td> </tr> <tr style="font-size: 1pt;"> <td style="border-left: 0.75pt solid #7fb8e6; border-top: 0.75pt solid #7fb8e6; padding-left: 8pt; height: 3pt;"> </td> <td colspan="2" style="border-left: 0.75pt solid #7fb8e6; border-top: 0.75pt solid #7fb8e6; height: 3pt;"> </td> <td colspan="2" style="border-left: 0.75pt solid #7fb8e6; border-top: 0.75pt solid #7fb8e6; border-right: 0.75pt solid #7fb8e6; height: 3pt;"> </td> </tr> <tr style="page-break-inside: avoid; font-family: arial; font-size: 8pt;"> <td style="padding-bottom: 3pt; border-left: 0.75pt solid #7fb8e6; border-bottom: 0.75pt solid #7fb8e6; padding-left: 8pt; vertical-align: top;"> <div style="margin-top: 0pt; margin-bottom: 0pt; margin-left: 1.00em; text-indent: -1.00em; font-size: 8pt; font-family: arial;">Class I Shares</div> </td> <td style="border-left: 0.75pt solid #7fb8e6; border-bottom: 0.75pt solid #7fb8e6; vertical-align: bottom;"> </td> <td style="padding-bottom: 3pt; border-bottom: 0.75pt solid #7fb8e6; vertical-align: bottom; white-space: nowrap; text-align: right;">$59 </td> <td style="border-left: 0.75pt solid #7fb8e6; border-bottom: 0.75pt solid #7fb8e6; vertical-align: bottom;"> </td> <td style="padding-bottom: 3pt; border-right: 0.75pt solid #7fb8e6; border-bottom: 0.75pt solid #7fb8e6; padding-right: 2pt; vertical-align: bottom; white-space: nowrap; text-align: right;">0.57%</td> </tr> </table> <table cellpadding="0" cellspacing="0" style="border-collapse: collapse; font-family: arial; font-size: 8pt; border-spacing: 0px; width: 100%;"> <tr style="page-break-inside: avoid;"> <td style="width: 3%;"> </td> <td style="width: 1%; vertical-align: top; text-align: right;">*</td> <td style="width: 1%; vertical-align: top;"> </td> <td style="vertical-align: top; text-align: left;"> <div style="margin-top: 0pt; margin-bottom: 0pt; font-family: arial; font-size: 8pt; text-align: justify;">Annualized for period less than one year.</div> </td> <td style="width: 2%;"> </td> </tr> </table> 59 0.0057 <div style="margin-top: 0pt; margin-bottom: 0pt; margin-left: 2%; font-size: 11pt; font-family: arial;"><span style="color: #0071ce;"><span style="font-weight: bold;">How did the Fund perform last year? What affected the Fund’s performance? </span></span></div> <table cellpadding="0" cellspacing="0" style="border-collapse: collapse; font-family: arial; font-size: 9pt; width: 96%; border-spacing: 0px; margin: 0 auto;"> <tr> <td style="width: 100%;"></td> </tr> <tr style="page-break-inside: avoid; font-family: arial; font-size: 9pt;"> <td style="vertical-align: top;"> <div style="margin-top: 0pt; margin-bottom: 0pt; font-size: 9pt; font-family: arial; font-weight: bold;">Performance Highlights</div> <div style="font-size: 6pt; margin-top: 0pt; margin-bottom: 0pt;"> </div> <div style="margin-top: 0pt; margin-bottom: 0pt; margin-right: 1.11em; font-size: 9pt; font-family: arial;">The Nuveen Missouri Municipal Bond Fund returned 7.21% for Class I Shares at net asset value (NAV) for the 12 months ended May 31, 2026. The Fund performed in line with the S&amp;P Municipal Bond Missouri Index, which returned 7.30%.</div> <div style="font-size: 6pt; margin-top: 0pt; margin-bottom: 0pt;"> </div> <div style="margin-top: 0pt; margin-bottom: 0pt; margin-right: 1.11em; font-size: 9pt; font-family: arial;">Top contributors to relative performance</div> <div style="font-size: 6pt; margin-top: 0pt; margin-bottom: 0pt;"> </div> <div style="margin-top: 0pt; margin-bottom: 0pt; margin-right: 1.67em; display: table-row;"> <div style="display: table-cell;"> <div style="margin-top: 0pt; margin-bottom: 0pt; margin-left: 2.222222em; font-family: arial;">•</div> </div> <div style="display: table-cell;"> <div style="margin-top: 0pt; margin-bottom: 0pt; margin-left: 0.538889em; font-family: arial;">Duration positioning, especially an overweight to bonds with durations of 10 years and longer and an underweight to bonds with durations of six years and shorter.</div> </div> </div> <div style="font-size: 6pt; margin-top: 0pt; margin-bottom: 0pt;"> </div> <div style="margin-top: 0pt; margin-bottom: 0pt; margin-right: 1.11em; font-size: 9pt; font-family: arial;">Top detractors from relative performance</div> <div style="font-size: 6pt; margin-top: 0pt; margin-bottom: 0pt;"> </div> <div style="margin-top: 0pt; margin-bottom: 0pt; margin-right: 1.67em; display: table-row;"> <div style="display: table-cell;"> <div style="margin-top: 0pt; margin-bottom: 0pt; margin-left: 2.222222em; font-family: arial;">•</div> </div> <div style="display: table-cell;"> <div style="margin-top: 0pt; margin-bottom: 0pt; margin-left: 0.538889em; font-family: arial;">Security selection.</div> </div> </div> <div style="font-size: 6pt; margin-top: 0pt; margin-bottom: 0pt;"> </div> <div style="margin-top: 0pt; margin-bottom: 0pt; margin-right: 1.67em; display: table-row;"> <div style="display: table-cell;"> <div style="margin-top: 0pt; margin-bottom: 0pt; margin-left: 2.222222em; font-family: arial;">•</div> </div> <div style="display: table-cell;"> <div style="margin-top: 0pt; margin-bottom: 0pt; margin-left: 0.538889em; font-family: arial;">Shorter-duration health care bonds.</div> </div> </div> </td> </tr> </table> Performance data shown represents past performance and does not predict or guarantee future results. The<span style="font-weight: bold;"> </span>graph and table do not reflect the deduction of taxes that a shareholder would pay on Fund distributions or redemption of Fund Shares. <div style="margin: 0pt 2% 0pt 2%;"> <img alt="LOGO" src="g133061g35g35.jpg"/> </div> <div style="font-size: 9pt; font-family: arial; font-weight: bold; margin: 0pt 2% 0pt 2%;">Average Annual Total Returns</div> <table cellpadding="0" cellspacing="0" style="border-collapse: collapse; font-family: arial; font-size: 8pt; width: 96%; border-spacing: 0px; margin: 0 auto;"> <tr> <td style="width: 64%;"></td> <td style="vertical-align: bottom; width: 6%;"></td> <td></td> <td></td> <td style="vertical-align: bottom; width: 3%;"></td> <td style="vertical-align: bottom; width: 6%;"></td> <td></td> <td></td> <td style="vertical-align: bottom; width: 3%;"></td> <td style="vertical-align: bottom; width: 6%;"></td> <td></td> <td></td> <td style="vertical-align: bottom; width: 3%;"></td> </tr> <tr style="font-size: 1pt;"> <td style="height: 3pt;"></td> <td colspan="4" style="border-left: 0.75pt solid #7fb8e6; border-top: 0.75pt solid #7fb8e6; border-right: 0.75pt solid #7fb8e6; height: 3pt;"> </td> <td colspan="4" style="border-top: 0.75pt solid #7fb8e6; height: 3pt;"> </td> <td colspan="4" style="border-left: 0.75pt solid #7fb8e6; border-top: 0.75pt solid #7fb8e6; border-right: 0.75pt solid #7fb8e6; height: 3pt;"> </td> </tr> <tr style="page-break-inside: avoid; font-family: arial; font-size: 8pt;"> <td style="vertical-align: top;"> </td> <td style="border-left: 0.75pt solid #7fb8e6; vertical-align: bottom;">    </td> <td colspan="2" style="padding-bottom: 3pt; vertical-align: bottom; white-space: nowrap; text-align: center;"><span style="font-weight: bold;">1-Year</span></td> <td style="border-right: 0.75pt solid #7fb8e6; vertical-align: bottom;"> </td> <td style="vertical-align: bottom;">    </td> <td colspan="2" style="padding-bottom: 3pt; vertical-align: bottom; white-space: nowrap; text-align: center;"><span style="font-weight: bold;">5-Year</span></td> <td style="vertical-align: bottom;"> </td> <td style="border-left: 0.75pt solid #7fb8e6; vertical-align: bottom;">    </td> <td colspan="2" style="padding-bottom: 3pt; vertical-align: bottom; white-space: nowrap; text-align: center;"><span style="font-weight: bold;">10-Year</span></td> <td style="border-right: 0.75pt solid #7fb8e6; padding-right: 2pt; vertical-align: bottom;"> </td> </tr> <tr style="font-size: 1pt;"> <td style="border-left: 0.75pt solid #7fb8e6; border-top: 0.75pt solid #7fb8e6; padding-left: 8pt; height: 3pt;"> </td> <td colspan="4" style="border-left: 0.75pt solid #7fb8e6; border-top: 0.75pt solid #7fb8e6; border-right: 0.75pt solid #7fb8e6; height: 3pt;"> </td> <td colspan="4" style="border-top: 0.75pt solid #7fb8e6; height: 3pt;"> </td> <td colspan="4" style="border-left: 0.75pt solid #7fb8e6; border-top: 0.75pt solid #7fb8e6; border-right: 0.75pt solid #7fb8e6; height: 3pt;"> </td> </tr> <tr style="page-break-inside: avoid; font-family: arial; font-size: 8pt;"> <td style="padding-bottom: 3pt; border-left: 0.75pt solid #7fb8e6; padding-left: 8pt; vertical-align: top;"> <div style="margin-top: 0pt; margin-bottom: 0pt; margin-left: 1.00em; text-indent: -1.00em; font-size: 8pt; font-family: arial;">Class I Shares at NAV</div> </td> <td style="border-left: 0.75pt solid #7fb8e6; vertical-align: bottom;">    </td> <td style="padding-bottom: 3pt; white-space: nowrap; vertical-align: bottom;"> </td> <td style="padding-bottom: 3pt; white-space: nowrap; vertical-align: bottom; text-align: right;">7.21</td> <td style="padding-bottom: 3pt; border-right: 0.75pt solid #7fb8e6; white-space: nowrap; vertical-align: bottom;">% </td> <td style="vertical-align: bottom;">    </td> <td style="padding-bottom: 3pt; white-space: nowrap; vertical-align: bottom;"> </td> <td style="padding-bottom: 3pt; white-space: nowrap; vertical-align: bottom; text-align: right;">1.00</td> <td style="padding-bottom: 3pt; white-space: nowrap; vertical-align: bottom;">% </td> <td style="border-left: 0.75pt solid #7fb8e6; vertical-align: bottom;">    </td> <td style="padding-bottom: 3pt; white-space: nowrap; vertical-align: bottom;"> </td> <td style="padding-bottom: 3pt; white-space: nowrap; vertical-align: bottom; text-align: right;">2.29</td> <td style="padding-bottom: 3pt; border-right: 0.75pt solid #7fb8e6; padding-right: 2pt; white-space: nowrap; vertical-align: bottom;">% </td> </tr> <tr style="font-size: 1pt;"> <td style="border-left: 0.75pt solid #7fb8e6; border-top: 0.75pt solid #7fb8e6; padding-left: 8pt; height: 3pt;"> </td> <td colspan="4" style="border-left: 0.75pt solid #7fb8e6; border-top: 0.75pt solid #7fb8e6; border-right: 0.75pt solid #7fb8e6; height: 3pt;"> </td> <td colspan="4" style="border-top: 0.75pt solid #7fb8e6; height: 3pt;"> </td> <td colspan="4" style="border-left: 0.75pt solid #7fb8e6; border-top: 0.75pt solid #7fb8e6; border-right: 0.75pt solid #7fb8e6; height: 3pt;"> </td> </tr> <tr style="page-break-inside: avoid; font-family: arial; font-size: 8pt;"> <td style="padding-bottom: 3pt; border-left: 0.75pt solid #7fb8e6; padding-left: 8pt; vertical-align: top;"> <div style="margin-top: 0pt; margin-bottom: 0pt; margin-left: 1.00em; text-indent: -1.00em; font-size: 8pt; font-family: arial;">S&amp;P Municipal Bond Index</div> </td> <td style="border-left: 0.75pt solid #7fb8e6; vertical-align: bottom;">    </td> <td style="padding-bottom: 3pt; white-space: nowrap; vertical-align: bottom;"> </td> <td style="padding-bottom: 3pt; white-space: nowrap; vertical-align: bottom; text-align: right;">6.57</td> <td style="padding-bottom: 3pt; border-right: 0.75pt solid #7fb8e6; white-space: nowrap; vertical-align: bottom;">% </td> <td style="vertical-align: bottom;">    </td> <td style="padding-bottom: 3pt; white-space: nowrap; vertical-align: bottom;"> </td> <td style="padding-bottom: 3pt; white-space: nowrap; vertical-align: bottom; text-align: right;">1.14</td> <td style="padding-bottom: 3pt; white-space: nowrap; vertical-align: bottom;">% </td> <td style="border-left: 0.75pt solid #7fb8e6; vertical-align: bottom;">    </td> <td style="padding-bottom: 3pt; white-space: nowrap; vertical-align: bottom;"> </td> <td style="padding-bottom: 3pt; white-space: nowrap; vertical-align: bottom; text-align: right;">2.30</td> <td style="padding-bottom: 3pt; border-right: 0.75pt solid #7fb8e6; padding-right: 2pt; white-space: nowrap; vertical-align: bottom;">% </td> </tr> <tr style="font-size: 1pt;"> <td style="border-left: 0.75pt solid #7fb8e6; border-top: 0.75pt solid #7fb8e6; padding-left: 8pt; height: 3pt;"> </td> <td colspan="4" style="border-left: 0.75pt solid #7fb8e6; border-top: 0.75pt solid #7fb8e6; border-right: 0.75pt solid #7fb8e6; height: 3pt;"> </td> <td colspan="4" style="border-top: 0.75pt solid #7fb8e6; height: 3pt;"> </td> <td colspan="4" style="border-left: 0.75pt solid #7fb8e6; border-top: 0.75pt solid #7fb8e6; border-right: 0.75pt solid #7fb8e6; height: 3pt;"> </td> </tr> <tr style="page-break-inside: avoid; font-family: arial; font-size: 8pt;"> <td style="padding-bottom: 3pt; border-left: 0.75pt solid #7fb8e6; padding-left: 8pt; vertical-align: top;"> <div style="margin-top: 0pt; margin-bottom: 0pt; margin-left: 1.00em; text-indent: -1.00em; font-size: 8pt; font-family: arial;">S&amp;P Municipal Bond Missouri Index</div> </td> <td style="border-left: 0.75pt solid #7fb8e6; vertical-align: bottom;">    </td> <td style="padding-bottom: 3pt; white-space: nowrap; vertical-align: bottom;"> </td> <td style="padding-bottom: 3pt; white-space: nowrap; vertical-align: bottom; text-align: right;">7.30</td> <td style="padding-bottom: 3pt; border-right: 0.75pt solid #7fb8e6; white-space: nowrap; vertical-align: bottom;">% </td> <td style="vertical-align: bottom;">    </td> <td style="padding-bottom: 3pt; white-space: nowrap; vertical-align: bottom;"> </td> <td style="padding-bottom: 3pt; white-space: nowrap; vertical-align: bottom; text-align: right;">1.37</td> <td style="padding-bottom: 3pt; white-space: nowrap; vertical-align: bottom;">% </td> <td style="border-left: 0.75pt solid #7fb8e6; vertical-align: bottom;">    </td> <td style="padding-bottom: 3pt; white-space: nowrap; vertical-align: bottom;"> </td> <td style="padding-bottom: 3pt; white-space: nowrap; vertical-align: bottom; text-align: right;">2.43</td> <td style="padding-bottom: 3pt; border-right: 0.75pt solid #7fb8e6; padding-right: 2pt; white-space: nowrap; vertical-align: bottom;">% </td> </tr> <tr style="font-size: 1pt;"> <td style="border-left: 0.75pt solid #7fb8e6; border-top: 0.75pt solid #7fb8e6; padding-left: 8pt; height: 3pt;"> </td> <td colspan="4" style="border-left: 0.75pt solid #7fb8e6; border-top: 0.75pt solid #7fb8e6; border-right: 0.75pt solid #7fb8e6; height: 3pt;"> </td> <td colspan="4" style="border-top: 0.75pt solid #7fb8e6; height: 3pt;"> </td> <td colspan="4" style="border-left: 0.75pt solid #7fb8e6; border-top: 0.75pt solid #7fb8e6; border-right: 0.75pt solid #7fb8e6; height: 3pt;"> </td> </tr> <tr style="page-break-inside: avoid; font-family: arial; font-size: 8pt;"> <td style="padding-bottom: 3pt; border-left: 0.75pt solid #7fb8e6; border-bottom: 0.75pt solid #7fb8e6; padding-left: 8pt; vertical-align: top;"> <div style="margin-top: 0pt; margin-bottom: 0pt; margin-left: 1.00em; text-indent: -1.00em; font-size: 8pt; font-family: arial;">Lipper Other States Municipal Debt Funds Classification Average</div> </td> <td style="border-left: 0.75pt solid #7fb8e6; border-bottom: 0.75pt solid #7fb8e6; vertical-align: bottom;">    </td> <td style="padding-bottom: 3pt; border-bottom: 0.75pt solid #7fb8e6; white-space: nowrap; vertical-align: bottom;"> </td> <td style="padding-bottom: 3pt; border-bottom: 0.75pt solid #7fb8e6; white-space: nowrap; vertical-align: bottom; text-align: right;">7.08</td> <td style="padding-bottom: 3pt; border-right: 0.75pt solid #7fb8e6; border-bottom: 0.75pt solid #7fb8e6; white-space: nowrap; vertical-align: bottom;">% </td> <td style="border-bottom: 0.75pt solid #7fb8e6; vertical-align: bottom;">    </td> <td style="padding-bottom: 3pt; border-bottom: 0.75pt solid #7fb8e6; white-space: nowrap; vertical-align: bottom;"> </td> <td style="padding-bottom: 3pt; border-bottom: 0.75pt solid #7fb8e6; white-space: nowrap; vertical-align: bottom; text-align: right;">0.43</td> <td style="padding-bottom: 3pt; border-bottom: 0.75pt solid #7fb8e6; white-space: nowrap; vertical-align: bottom;">% </td> <td style="border-left: 0.75pt solid #7fb8e6; border-bottom: 0.75pt solid #7fb8e6; vertical-align: bottom;">    </td> <td style="padding-bottom: 3pt; border-bottom: 0.75pt solid #7fb8e6; white-space: nowrap; vertical-align: bottom;"> </td> <td style="padding-bottom: 3pt; border-bottom: 0.75pt solid #7fb8e6; white-space: nowrap; vertical-align: bottom; text-align: right;">1.54</td> <td style="padding-bottom: 3pt; border-right: 0.75pt solid #7fb8e6; border-bottom: 0.75pt solid #7fb8e6; padding-right: 2pt; white-space: nowrap; vertical-align: bottom;">% </td> </tr> </table> Class I Shares at NAV 0.0721 0.0100 0.0229 S&P Municipal Bond Index 0.0657 0.0114 0.0230 S&P Municipal Bond Missouri Index 0.0730 0.0137 0.0243 Lipper Other States Municipal Debt Funds Classification Average 0.0708 0.0043 0.0154 For most recent month-end performance, go to https://www.nuveen.com/en-us/mutual-funds/prospectuses or call (800) 257‑8787. <div style="margin-top: 0pt; margin-bottom: 0pt; margin-left: 2%; font-size: 11pt; font-family: arial;"><span style="color: #0071ce;"><span style="font-weight: bold;">Fund Statistics (as of May 31, 2026) </span></span></div> <table cellpadding="0" cellspacing="0" style="border-collapse: collapse; font-family: arial; font-size: 8pt; width: 96%; border-spacing: 0px; margin: 0 auto;"> <tr> <td style="width: 87%;"></td> <td style="vertical-align: bottom; width: 2%;"></td> <td></td> <td></td> <td style="vertical-align: bottom; width: 2%;"></td> </tr> <tr style="font-size: 1pt;"> <td style="height: 3pt;"></td> <td colspan="4" style="height: 3pt;"></td> </tr> <tr style="page-break-inside: avoid; font-family: arial; font-size: 8pt;"> <td style="padding-bottom: 3pt; border-bottom: 0.75pt solid #7fb8e6; vertical-align: top;"> <div style="margin-top: 0pt; margin-bottom: 0pt; margin-left: 1.00em; text-indent: -1.00em; font-size: 8pt; font-family: arial;">Fund net assets</div> </td> <td style="border-bottom: 0.75pt solid #7fb8e6; vertical-align: bottom;">  </td> <td style="padding-bottom: 3pt; border-bottom: 0.75pt solid #7fb8e6; white-space: nowrap; vertical-align: bottom;">$</td> <td style="padding-bottom: 3pt; border-bottom: 0.75pt solid #7fb8e6; white-space: nowrap; vertical-align: bottom; text-align: right;">504,501,374</td> <td style="padding-bottom: 3pt; border-bottom: 0.75pt solid #7fb8e6; white-space: nowrap; vertical-align: bottom;"> </td> </tr> <tr style="font-size: 1pt;"> <td style="height: 3pt;"></td> <td colspan="4" style="height: 3pt;"></td> </tr> <tr style="page-break-inside: avoid; font-family: arial; font-size: 8pt;"> <td style="padding-bottom: 3pt; border-bottom: 0.75pt solid #7fb8e6; vertical-align: top;"> <div style="margin-top: 0pt; margin-bottom: 0pt; margin-left: 1.00em; text-indent: -1.00em; font-size: 8pt; font-family: arial;">Total number of portfolio holdings</div> </td> <td style="border-bottom: 0.75pt solid #7fb8e6; vertical-align: bottom;">  </td> <td style="padding-bottom: 3pt; border-bottom: 0.75pt solid #7fb8e6; white-space: nowrap; vertical-align: bottom;"> </td> <td style="padding-bottom: 3pt; border-bottom: 0.75pt solid #7fb8e6; white-space: nowrap; vertical-align: bottom; text-align: right;">251</td> <td style="padding-bottom: 3pt; border-bottom: 0.75pt solid #7fb8e6; white-space: nowrap; vertical-align: bottom;"> </td> </tr> <tr style="font-size: 1pt;"> <td style="height: 3pt;"></td> <td colspan="4" style="height: 3pt;"></td> </tr> <tr style="page-break-inside: avoid; font-family: arial; font-size: 8pt;"> <td style="padding-bottom: 3pt; border-bottom: 0.75pt solid #7fb8e6; vertical-align: top;"> <div style="margin-top: 0pt; margin-bottom: 0pt; margin-left: 1.00em; text-indent: -1.00em; font-size: 8pt; font-family: arial;">Portfolio turnover (%)</div> </td> <td style="border-bottom: 0.75pt solid #7fb8e6; vertical-align: bottom;">  </td> <td style="padding-bottom: 3pt; border-bottom: 0.75pt solid #7fb8e6; white-space: nowrap; vertical-align: bottom;"> </td> <td style="padding-bottom: 3pt; border-bottom: 0.75pt solid #7fb8e6; white-space: nowrap; vertical-align: bottom; text-align: right;">7%</td> <td style="padding-bottom: 3pt; border-bottom: 0.75pt solid #7fb8e6; white-space: nowrap; vertical-align: bottom;"> </td> </tr> <tr style="font-size: 1pt;"> <td style="height: 3pt;"></td> <td colspan="4" style="height: 3pt;"></td> </tr> <tr style="page-break-inside: avoid; font-family: arial; font-size: 8pt;"> <td style="padding-bottom: 3pt; border-bottom: 0.75pt solid #7fb8e6; vertical-align: top;"> <div style="margin-top: 0pt; margin-bottom: 0pt; margin-left: 1.00em; text-indent: -1.00em; font-size: 8pt; font-family: arial;">Total management fees paid for the year</div> </td> <td style="border-bottom: 0.75pt solid #7fb8e6; vertical-align: bottom;">  </td> <td style="padding-bottom: 3pt; border-bottom: 0.75pt solid #7fb8e6; white-space: nowrap; vertical-align: bottom;">$</td> <td style="padding-bottom: 3pt; border-bottom: 0.75pt solid #7fb8e6; white-space: nowrap; vertical-align: bottom; text-align: right;">2,457,683</td> <td style="padding-bottom: 3pt; border-bottom: 0.75pt solid #7fb8e6; white-space: nowrap; vertical-align: bottom;"> </td> </tr> </table> 504501374 251 0.07 2457683 <table cellpadding="0" cellspacing="0" style="border-collapse: collapse; font-family: arial; font-size: 9pt; width: 100%; border-spacing: 0px; margin: 0 auto;"> <tr> <td style="width: 50%;"></td> <td style="vertical-align: bottom; width: 1%;"></td> <td style="width: 49%;"></td> </tr> <tr style="page-break-inside: avoid; font-family: arial; font-size: 9pt;"> <td style="vertical-align: top;"> <div style="margin: 0pt 1.11em 0pt 1.11em;"> <img alt="LOGO" src="g133061g52_60.jpg"/> </div> </td> <td style="vertical-align: bottom;"> </td> <td style="vertical-align: top;"> <div style="margin: 0pt 1.11em 0pt 1.11em;"> <img alt="LOGO" src="g133061g46_93.jpg"/> </div> </td> </tr> </table> <table cellpadding="0" cellspacing="0" style="border-collapse: collapse; font-family: arial; font-size: 8pt; border-spacing: 0px; width: 100%;"> <tr style="page-break-inside: avoid;"> <td style="width: 1%;"> </td> <td style="width: 4%; vertical-align: top; text-align: left;">(1)</td> <td style="vertical-align: top; text-align: left;"> <div style="margin-top: 0pt; margin-bottom: 0pt; font-size: 8pt; font-family: arial; text-align: left;">The ratings disclosed are the highest rating given by one of the following national rating agencies: Standard &amp; Poor’s (S&amp;P), Moody’s Investors Service, Inc. (Moody’s) or Fitch, Inc (Fitch). This treatment of split-rated securities may differ from that used for other purposes, such as for Fund investment policies. Credit ratings are subject to change. AAA, AA, A, and BBB are investment grade ratings; BB, B, CCC, CC, C and D are below-investment grade ratings. Holdings designated N/R are not rated by these national ratings agencies.</div> </td> </tr> </table> The ratings disclosed are the highest rating given by one of the following national rating agencies: Standard &amp; Poor’s (S&amp;P), Moody’s Investors Service, Inc. (Moody’s) or Fitch, Inc (Fitch). This treatment of split-rated securities may differ from that used for other purposes, such as for Fund investment policies. Credit ratings are subject to change. AAA, AA, A, and BBB are investment grade ratings; BB, B, CCC, CC, C and D are below-investment grade ratings. Holdings designated N/R are not rated by these national ratings agencies. <div style="margin-top: 0pt; margin-bottom: 0pt; margin-left: 2%; font-size: 11pt; font-family: arial;"><span style="color: #0071ce;"><span style="font-weight: bold;">How has the Fund changed? </span></span></div> <div style="margin-top: 6pt; margin-bottom: 0pt; margin-left: 2%; font-size: 9pt; font-family: arial; font-weight: bold;">For more complete information, you may review the Fund’s next prospectus, which is expected to be available by September 30, 2026 at https://www.nuveen.com/en-us/mutual-funds/prospectuses or upon request at (800) 257-8787.</div> <div style="margin-top: 6pt; margin-bottom: 0pt; margin-left: 2%; font-size: 9pt; font-family: arial; font-weight: bold;">For more complete information, you may review the Fund’s next prospectus, which is expected to be available by September 30, 2026 at https://www.nuveen.com/en-us/mutual-funds/prospectuses or upon request at (800) 257-8787.</div> https://www.nuveen.com/en-us/mutual-funds/prospectuses (800) 257-8787 Nuveen Ohio Municipal Bond Fund Class A Shares FOHTX This annual shareholder report contains important information about the Class A Shares of the Nuveen Ohio Municipal Bond Fund for the period of June 1, 2025 to May 31, 2026. annual shareholder report You can find additional information at https://www.nuveen.com/en-us/mutual-funds/prospectuses. You can also request this information by contacting us at (800) 257-8787. https://www.nuveen.com/en-us/mutual-funds/prospectuses (800) 257-8787 <div style="margin-top:18pt;margin-bottom:0pt;margin-left:2%;margin-right:2%;font-size:9pt;font-family:arial;font-weight:bold;">This report describes changes to the Fund that occurred during the reporting period. </div> <div style="margin-top:0pt;margin-bottom:0pt;margin-left:2%;font-size:11pt;font-family:arial;"><span style="color:#0071ce"><span style="font-weight:bold">What were the Fund costs for the last year? </span></span><span style="font-family:arial">(based on a hypothetical $10,000 investment)</span><span style="font-family:arial;color:#0071ce"><span style="font-weight:bold"> </span></span></div> <table cellpadding="0" cellspacing="0" style="border-collapse:collapse;font-family:arial;font-size:8pt;width:96%;border-spacing:0px;margin:0 auto"> <tr> <td style="width:33%;"></td> <td style="vertical-align:bottom;"></td> <td style="width:33%;"></td> <td style="vertical-align:bottom;"></td> <td style="width:32%;"></td> </tr> <tr style="font-size:1pt"> <td style="height:3pt;"></td> <td colspan="2" style="BORDER-LEFT:0.75pt solid #7fb8e6; BORDER-TOP:0.75pt solid #7fb8e6;height:3pt;"> </td> <td colspan="2" style="BORDER-LEFT:0.75pt solid #7fb8e6; BORDER-TOP:0.75pt solid #7fb8e6; BORDER-RIGHT:0.75pt solid #7fb8e6;height:3pt;"> </td> </tr> <tr style="page-break-inside:avoid;font-family:arial;font-size:8pt"> <td style="vertical-align:bottom;"> </td> <td style=" BORDER-LEFT:0.75pt solid #7fb8e6;vertical-align:bottom;"> </td> <td style="padding-bottom:3pt ;vertical-align:middle;text-align:right;"><span style="font-weight:bold">Cost of a $10,000 investment </span></td> <td style=" BORDER-LEFT:0.75pt solid #7fb8e6;vertical-align:bottom;"> </td> <td style="padding-bottom:3pt ;BORDER-RIGHT:0.75pt solid #7fb8e6; padding-right:2pt;vertical-align:bottom;text-align:right;"><span style="font-weight:bold">Costs paid as a percentage of<br/> $10,000 investment*</span></td> </tr> <tr style="font-size:1pt"> <td style="BORDER-LEFT:0.75pt solid #7fb8e6; BORDER-TOP:0.75pt solid #7fb8e6; padding-left:8pt;height:3pt;"> </td> <td colspan="2" style="BORDER-LEFT:0.75pt solid #7fb8e6; BORDER-TOP:0.75pt solid #7fb8e6;height:3pt;"> </td> <td colspan="2" style="BORDER-LEFT:0.75pt solid #7fb8e6; BORDER-TOP:0.75pt solid #7fb8e6; BORDER-RIGHT:0.75pt solid #7fb8e6;height:3pt;"> </td> </tr> <tr style="page-break-inside:avoid;font-family:arial;font-size:8pt"> <td style="padding-bottom:3pt ;BORDER-LEFT:0.75pt solid #7fb8e6; BORDER-BOTTOM:0.75pt solid #7fb8e6; padding-left:8pt;vertical-align:top;"> <div style="margin-top:0pt;margin-bottom:0pt;margin-left:1.00em;text-indent:-1.00em;font-size:8pt;font-family:arial;">Class A Shares</div></td> <td style=" BORDER-LEFT:0.75pt solid #7fb8e6; BORDER-BOTTOM:0.75pt solid #7fb8e6;vertical-align:bottom;"> </td> <td style="padding-bottom:3pt ;BORDER-BOTTOM:0.75pt solid #7fb8e6;vertical-align:bottom;white-space:nowrap;text-align:right;">$78 </td> <td style=" BORDER-LEFT:0.75pt solid #7fb8e6; BORDER-BOTTOM:0.75pt solid #7fb8e6;vertical-align:bottom;"> </td> <td style="padding-bottom:3pt ;BORDER-RIGHT:0.75pt solid #7fb8e6; BORDER-BOTTOM:0.75pt solid #7fb8e6; padding-right:2pt;vertical-align:bottom;white-space:nowrap;text-align:right;">0.76%</td> </tr> </table> <table cellpadding="0" cellspacing="0" style="border-collapse:collapse;font-family:arial;font-size:8pt;border-spacing:0px;width:100%"> <tr style="page-break-inside:avoid"> <td style="width:3%;"> </td> <td style="width:1%;vertical-align:top;text-align:right;">*</td> <td style="width:1%;vertical-align:top;"> </td> <td style="vertical-align:top;text-align:left;"> <div style="margin-top:0pt;margin-bottom:0pt;font-family:arial;font-size:8pt;text-align:justify;">Annualized for period less than one year. </div></td> <td style="width:2%;"> </td> </tr></table> 78 0.0076 <div style="margin-top:0pt;margin-bottom:0pt;margin-left:2%;font-size:11pt;font-family:arial;"><span style="color:#0071ce"><span style="font-weight:bold">How did the Fund perform last year? What affected the Fund’s performance? </span></span></div> <table cellpadding="0" cellspacing="0" style="border-collapse:collapse;font-family:arial;font-size:9pt;width:96%;border-spacing:0px;margin:0 auto"> <tr> <td style="width:100%;"></td> </tr> <tr style="page-break-inside:avoid;font-family:arial;font-size:9pt"> <td style="vertical-align:top;"> <div style="margin-top:0pt;margin-bottom:0pt;font-size:9pt;font-family:arial;font-weight:bold;">Performance Highlights</div> <div style="font-size:6pt;margin-top:0pt;margin-bottom:0pt;"> </div> <div style="margin-top:0pt;margin-bottom:0pt;margin-right:1.11em;font-size:9pt;font-family:arial;">The Nuveen Ohio Municipal Bond Fund returned 6.28% for Class A Shares at net asset value (NAV) for the 12 months ended May 31, 2026. The Fund outperformed the S&amp;P Municipal Bond Ohio Index, which returned 5.96%.</div> <div style="font-size:6pt;margin-top:0pt;margin-bottom:0pt;"> </div> <div style="margin-top:0pt;margin-bottom:0pt;margin-right:1.11em;font-size:9pt;font-family:arial;">Top contributors to relative performance</div> <div style="font-size:6pt;margin-top:0pt;margin-bottom:0pt;"> </div> <div style="margin-top:0pt;margin-bottom:0pt;margin-right:1.67em;display:table-row;"> <div style="display:table-cell;"> <div style="margin-top:0pt;margin-bottom:0pt;margin-left:2.222222em;font-family:arial;">•</div></div> <div style="display:table-cell;"> <div style="margin-top:0pt;margin-bottom:0pt;margin-left:0.538889em;font-family:arial;">Duration positioning, especially an overweight to longer-duration bonds and an underweight to shorter-duration bonds.</div></div></div> <div style="font-size:6pt;margin-top:0pt;margin-bottom:0pt;"> </div> <div style="margin-top:0pt;margin-bottom:0pt;margin-right:1.67em;display:table-row;"> <div style="display:table-cell;"> <div style="margin-top:0pt;margin-bottom:0pt;margin-left:2.222222em;font-family:arial;">•</div></div> <div style="display:table-cell;"> <div style="margin-top:0pt;margin-bottom:0pt;margin-left:0.538889em;font-family:arial;">Credit quality positioning, especially an overweight to non-rated bonds.</div></div></div> <div style="font-size:6pt;margin-top:0pt;margin-bottom:0pt;"> </div> <div style="margin-top:0pt;margin-bottom:0pt;margin-right:1.67em;display:table-row;"> <div style="display:table-cell;"> <div style="margin-top:0pt;margin-bottom:0pt;margin-left:2.222222em;font-family:arial;">•</div></div> <div style="display:table-cell;"> <div style="margin-top:0pt;margin-bottom:0pt;margin-left:0.538889em;font-family:arial;">Sector positioning, especially an overweight to dedicated-tax bonds.</div></div></div> <div style="font-size:6pt;margin-top:0pt;margin-bottom:0pt;"> </div> <div style="margin-top:0pt;margin-bottom:0pt;margin-right:1.11em;font-size:9pt;font-family:arial;">Top detractors from relative performance</div> <div style="font-size:6pt;margin-top:0pt;margin-bottom:0pt;"> </div> <div style="margin-top:0pt;margin-bottom:0pt;margin-right:1.67em;display:table-row;"> <div style="display:table-cell;"> <div style="margin-top:0pt;margin-bottom:0pt;margin-left:2.222222em;font-family:arial;">•</div></div> <div style="display:table-cell;"> <div style="margin-top:0pt;margin-bottom:0pt;margin-left:0.538889em;font-family:arial;">An underweight to the housing bond sector.</div></div></div> <div style="font-size:6pt;margin-top:0pt;margin-bottom:0pt;"> </div> <div style="margin-top:0pt;margin-bottom:0pt;margin-right:1.67em;display:table-row;"> <div style="display:table-cell;"> <div style="margin-top:0pt;margin-bottom:0pt;margin-left:2.222222em;font-family:arial;">•</div></div> <div style="display:table-cell;"> <div style="margin-top:0pt;margin-bottom:0pt;margin-left:0.538889em;font-family:arial;">Security selection.</div></div></div></td> </tr> </table> Performance data shown represents past performance and does not predict or guarantee future results. The<span style="font-weight:bold"> </span>graph and table do not reflect the deduction of taxes that a shareholder would pay on Fund distributions or redemption of Fund Shares. <div style="margin-top:0pt;margin-bottom:0pt;margin-left:2%;margin-right:2%;"> <img alt="LOGO" src="g133061g38g38.jpg"/> </div> <div style="margin-top:0pt;margin-bottom:0pt;margin-left:2%;margin-right:2%;font-size:9pt;font-family:arial;font-weight:bold;">Average Annual Total Returns </div> <table cellpadding="0" cellspacing="0" style="border-collapse:collapse;font-family:arial;font-size:8pt;width:96%;border-spacing:0px;margin:0 auto"> <tr> <td style="width:64%;"></td> <td style="vertical-align:bottom;width:6%;"></td> <td></td> <td></td> <td style="vertical-align:bottom;width:3%;"></td> <td style="vertical-align:bottom;width:6%;"></td> <td></td> <td></td> <td style="vertical-align:bottom;width:3%;"></td> <td style="vertical-align:bottom;width:6%;"></td> <td></td> <td></td> <td style="vertical-align:bottom;width:3%;"></td> </tr> <tr style="font-size:1pt"> <td style="height:3pt;"></td> <td colspan="4" style="BORDER-LEFT:0.75pt solid #7fb8e6; BORDER-TOP:0.75pt solid #7fb8e6; BORDER-RIGHT:0.75pt solid #7fb8e6;height:3pt;"> </td> <td colspan="4" style="BORDER-TOP:0.75pt solid #7fb8e6;height:3pt;"> </td> <td colspan="4" style="BORDER-LEFT:0.75pt solid #7fb8e6; BORDER-TOP:0.75pt solid #7fb8e6; BORDER-RIGHT:0.75pt solid #7fb8e6;height:3pt;"> </td> </tr> <tr style="page-break-inside:avoid;font-family:arial;font-size:8pt"> <td style="vertical-align:top;"> </td> <td style=" BORDER-LEFT:0.75pt solid #7fb8e6;vertical-align:bottom;">    </td> <td colspan="2" style="padding-bottom:3pt ;vertical-align:bottom;white-space:nowrap;text-align:center;"><span style="font-weight:bold">1-Year</span></td> <td style=" BORDER-RIGHT:0.75pt solid #7fb8e6;vertical-align:bottom;"> </td> <td style="vertical-align:bottom;">    </td> <td colspan="2" style="padding-bottom:3pt ;vertical-align:bottom;white-space:nowrap;text-align:center;"><span style="font-weight:bold">5-Year</span></td> <td style="vertical-align:bottom;"> </td> <td style=" BORDER-LEFT:0.75pt solid #7fb8e6;vertical-align:bottom;">    </td> <td colspan="2" style="padding-bottom:3pt ;vertical-align:bottom;white-space:nowrap;text-align:center;"><span style="font-weight:bold">10-Year</span></td> <td style=" BORDER-RIGHT:0.75pt solid #7fb8e6; padding-right:2pt;vertical-align:bottom;"> </td> </tr> <tr style="font-size:1pt"> <td style="BORDER-LEFT:0.75pt solid #7fb8e6; BORDER-TOP:0.75pt solid #7fb8e6; padding-left:8pt;height:3pt;"> </td> <td colspan="4" style="BORDER-LEFT:0.75pt solid #7fb8e6; BORDER-TOP:0.75pt solid #7fb8e6; BORDER-RIGHT:0.75pt solid #7fb8e6;height:3pt;"> </td> <td colspan="4" style="BORDER-TOP:0.75pt solid #7fb8e6;height:3pt;"> </td> <td colspan="4" style="BORDER-LEFT:0.75pt solid #7fb8e6; BORDER-TOP:0.75pt solid #7fb8e6; BORDER-RIGHT:0.75pt solid #7fb8e6;height:3pt;"> </td> </tr> <tr style="page-break-inside:avoid;font-family:arial;font-size:8pt"> <td style="padding-bottom:3pt ;BORDER-LEFT:0.75pt solid #7fb8e6; padding-left:8pt;vertical-align:top;"> <div style="margin-top:0pt;margin-bottom:0pt;margin-left:1.00em;text-indent:-1.00em;font-size:8pt;font-family:arial;">Class A Shares at NAV (excluding maximum sales charge)</div></td> <td style=" BORDER-LEFT:0.75pt solid #7fb8e6;vertical-align:bottom;">    </td> <td style="padding-bottom:3pt ;white-space:nowrap;vertical-align:bottom;"> </td> <td style="padding-bottom:3pt ;white-space:nowrap;vertical-align:bottom;text-align:right;">6.28</td> <td style="padding-bottom:3pt ;BORDER-RIGHT:0.75pt solid #7fb8e6;white-space:nowrap;vertical-align:bottom;">% </td> <td style="vertical-align:bottom;">    </td> <td style="padding-bottom:3pt ;white-space:nowrap;vertical-align:bottom;"> </td> <td style="padding-bottom:3pt ;white-space:nowrap;vertical-align:bottom;text-align:right;">0.47</td> <td style="padding-bottom:3pt ;white-space:nowrap;vertical-align:bottom;">% </td> <td style=" BORDER-LEFT:0.75pt solid #7fb8e6;vertical-align:bottom;">    </td> <td style="padding-bottom:3pt ;white-space:nowrap;vertical-align:bottom;"> </td> <td style="padding-bottom:3pt ;white-space:nowrap;vertical-align:bottom;text-align:right;">1.74</td> <td style="padding-bottom:3pt ;BORDER-RIGHT:0.75pt solid #7fb8e6; padding-right:2pt;white-space:nowrap;vertical-align:bottom;">% </td> </tr> <tr style="font-size:1pt"> <td style="BORDER-LEFT:0.75pt solid #7fb8e6; BORDER-TOP:0.75pt solid #7fb8e6; padding-left:8pt;height:3pt;"> </td> <td colspan="4" style="BORDER-LEFT:0.75pt solid #7fb8e6; BORDER-TOP:0.75pt solid #7fb8e6; BORDER-RIGHT:0.75pt solid #7fb8e6;height:3pt;"> </td> <td colspan="4" style="BORDER-TOP:0.75pt solid #7fb8e6;height:3pt;"> </td> <td colspan="4" style="BORDER-LEFT:0.75pt solid #7fb8e6; BORDER-TOP:0.75pt solid #7fb8e6; BORDER-RIGHT:0.75pt solid #7fb8e6;height:3pt;"> </td> </tr> <tr style="page-break-inside:avoid;font-family:arial;font-size:8pt"> <td style="padding-bottom:3pt ;BORDER-LEFT:0.75pt solid #7fb8e6; padding-left:8pt;vertical-align:top;"> <div style="margin-top:0pt;margin-bottom:0pt;margin-left:1.00em;text-indent:-1.00em;font-size:8pt;font-family:arial;">Class A Shares at maximum sales charge (Offering Price)</div></td> <td style=" BORDER-LEFT:0.75pt solid #7fb8e6;vertical-align:bottom;">    </td> <td style="padding-bottom:3pt ;white-space:nowrap;vertical-align:bottom;"> </td> <td style="padding-bottom:3pt ;white-space:nowrap;vertical-align:bottom;text-align:right;">1.80</td> <td style="padding-bottom:3pt ;BORDER-RIGHT:0.75pt solid #7fb8e6;white-space:nowrap;vertical-align:bottom;">% </td> <td style="vertical-align:bottom;">    </td> <td style="padding-bottom:3pt ;white-space:nowrap;vertical-align:bottom;"> </td> <td style="padding-bottom:3pt ;white-space:nowrap;vertical-align:bottom;text-align:right;">(0.38</td> <td style="padding-bottom:3pt ;white-space:nowrap;vertical-align:bottom;">)% </td> <td style=" BORDER-LEFT:0.75pt solid #7fb8e6;vertical-align:bottom;">    </td> <td style="padding-bottom:3pt ;white-space:nowrap;vertical-align:bottom;"> </td> <td style="padding-bottom:3pt ;white-space:nowrap;vertical-align:bottom;text-align:right;">1.31</td> <td style="padding-bottom:3pt ;BORDER-RIGHT:0.75pt solid #7fb8e6; padding-right:2pt;white-space:nowrap;vertical-align:bottom;">% </td> </tr> <tr style="font-size:1pt"> <td style="BORDER-LEFT:0.75pt solid #7fb8e6; BORDER-TOP:0.75pt solid #7fb8e6; padding-left:8pt;height:3pt;"> </td> <td colspan="4" style="BORDER-LEFT:0.75pt solid #7fb8e6; BORDER-TOP:0.75pt solid #7fb8e6; BORDER-RIGHT:0.75pt solid #7fb8e6;height:3pt;"> </td> <td colspan="4" style="BORDER-TOP:0.75pt solid #7fb8e6;height:3pt;"> </td> <td colspan="4" style="BORDER-LEFT:0.75pt solid #7fb8e6; BORDER-TOP:0.75pt solid #7fb8e6; BORDER-RIGHT:0.75pt solid #7fb8e6;height:3pt;"> </td> </tr> <tr style="page-break-inside:avoid;font-family:arial;font-size:8pt"> <td style="padding-bottom:3pt ;BORDER-LEFT:0.75pt solid #7fb8e6; padding-left:8pt;vertical-align:top;"> <div style="margin-top:0pt;margin-bottom:0pt;margin-left:1.00em;text-indent:-1.00em;font-size:8pt;font-family:arial;">S&amp;P Municipal Bond Index</div></td> <td style=" BORDER-LEFT:0.75pt solid #7fb8e6;vertical-align:bottom;">    </td> <td style="padding-bottom:3pt ;white-space:nowrap;vertical-align:bottom;"> </td> <td style="padding-bottom:3pt ;white-space:nowrap;vertical-align:bottom;text-align:right;">6.57</td> <td style="padding-bottom:3pt ;BORDER-RIGHT:0.75pt solid #7fb8e6;white-space:nowrap;vertical-align:bottom;">% </td> <td style="vertical-align:bottom;">    </td> <td style="padding-bottom:3pt ;white-space:nowrap;vertical-align:bottom;"> </td> <td style="padding-bottom:3pt ;white-space:nowrap;vertical-align:bottom;text-align:right;">1.14</td> <td style="padding-bottom:3pt ;white-space:nowrap;vertical-align:bottom;">% </td> <td style=" BORDER-LEFT:0.75pt solid #7fb8e6;vertical-align:bottom;">    </td> <td style="padding-bottom:3pt ;white-space:nowrap;vertical-align:bottom;"> </td> <td style="padding-bottom:3pt ;white-space:nowrap;vertical-align:bottom;text-align:right;">2.30</td> <td style="padding-bottom:3pt ;BORDER-RIGHT:0.75pt solid #7fb8e6; padding-right:2pt;white-space:nowrap;vertical-align:bottom;">% </td> </tr> <tr style="font-size:1pt"> <td style="BORDER-LEFT:0.75pt solid #7fb8e6; BORDER-TOP:0.75pt solid #7fb8e6; padding-left:8pt;height:3pt;"> </td> <td colspan="4" style="BORDER-LEFT:0.75pt solid #7fb8e6; BORDER-TOP:0.75pt solid #7fb8e6; BORDER-RIGHT:0.75pt solid #7fb8e6;height:3pt;"> </td> <td colspan="4" style="BORDER-TOP:0.75pt solid #7fb8e6;height:3pt;"> </td> <td colspan="4" style="BORDER-LEFT:0.75pt solid #7fb8e6; BORDER-TOP:0.75pt solid #7fb8e6; BORDER-RIGHT:0.75pt solid #7fb8e6;height:3pt;"> </td> </tr> <tr style="page-break-inside:avoid;font-family:arial;font-size:8pt"> <td style="padding-bottom:3pt ;BORDER-LEFT:0.75pt solid #7fb8e6; padding-left:8pt;vertical-align:top;"> <div style="margin-top:0pt;margin-bottom:0pt;margin-left:1.00em;text-indent:-1.00em;font-size:8pt;font-family:arial;">S&amp;P Municipal Bond Ohio Index</div></td> <td style=" BORDER-LEFT:0.75pt solid #7fb8e6;vertical-align:bottom;">    </td> <td style="padding-bottom:3pt ;white-space:nowrap;vertical-align:bottom;"> </td> <td style="padding-bottom:3pt ;white-space:nowrap;vertical-align:bottom;text-align:right;">5.96</td> <td style="padding-bottom:3pt ;BORDER-RIGHT:0.75pt solid #7fb8e6;white-space:nowrap;vertical-align:bottom;">% </td> <td style="vertical-align:bottom;">    </td> <td style="padding-bottom:3pt ;white-space:nowrap;vertical-align:bottom;"> </td> <td style="padding-bottom:3pt ;white-space:nowrap;vertical-align:bottom;text-align:right;">0.90</td> <td style="padding-bottom:3pt ;white-space:nowrap;vertical-align:bottom;">% </td> <td style=" BORDER-LEFT:0.75pt solid #7fb8e6;vertical-align:bottom;">    </td> <td style="padding-bottom:3pt ;white-space:nowrap;vertical-align:bottom;"> </td> <td style="padding-bottom:3pt ;white-space:nowrap;vertical-align:bottom;text-align:right;">2.46</td> <td style="padding-bottom:3pt ;BORDER-RIGHT:0.75pt solid #7fb8e6; padding-right:2pt;white-space:nowrap;vertical-align:bottom;">% </td> </tr> <tr style="font-size:1pt"> <td style="BORDER-LEFT:0.75pt solid #7fb8e6; BORDER-TOP:0.75pt solid #7fb8e6; padding-left:8pt;height:3pt;"> </td> <td colspan="4" style="BORDER-LEFT:0.75pt solid #7fb8e6; BORDER-TOP:0.75pt solid #7fb8e6; BORDER-RIGHT:0.75pt solid #7fb8e6;height:3pt;"> </td> <td colspan="4" style="BORDER-TOP:0.75pt solid #7fb8e6;height:3pt;"> </td> <td colspan="4" style="BORDER-LEFT:0.75pt solid #7fb8e6; BORDER-TOP:0.75pt solid #7fb8e6; BORDER-RIGHT:0.75pt solid #7fb8e6;height:3pt;"> </td> </tr> <tr style="page-break-inside:avoid;font-family:arial;font-size:8pt"> <td style="padding-bottom:3pt ;BORDER-LEFT:0.75pt solid #7fb8e6; BORDER-BOTTOM:0.75pt solid #7fb8e6; padding-left:8pt;vertical-align:top;"> <div style="margin-top:0pt;margin-bottom:0pt;margin-left:1.00em;text-indent:-1.00em;font-size:8pt;font-family:arial;">Lipper Ohio Municipal Debt Funds Classification Average</div></td> <td style=" BORDER-LEFT:0.75pt solid #7fb8e6; BORDER-BOTTOM:0.75pt solid #7fb8e6;vertical-align:bottom;">    </td> <td style="padding-bottom:3pt ;BORDER-BOTTOM:0.75pt solid #7fb8e6;white-space:nowrap;vertical-align:bottom;"> </td> <td style="padding-bottom:3pt ;BORDER-BOTTOM:0.75pt solid #7fb8e6;white-space:nowrap;vertical-align:bottom;text-align:right;">6.75</td> <td style="padding-bottom:3pt ;BORDER-RIGHT:0.75pt solid #7fb8e6; BORDER-BOTTOM:0.75pt solid #7fb8e6;white-space:nowrap;vertical-align:bottom;">% </td> <td style=" BORDER-BOTTOM:0.75pt solid #7fb8e6;vertical-align:bottom;">    </td> <td style="padding-bottom:3pt ;BORDER-BOTTOM:0.75pt solid #7fb8e6;white-space:nowrap;vertical-align:bottom;"> </td> <td style="padding-bottom:3pt ;BORDER-BOTTOM:0.75pt solid #7fb8e6;white-space:nowrap;vertical-align:bottom;text-align:right;">0.45</td> <td style="padding-bottom:3pt ;BORDER-BOTTOM:0.75pt solid #7fb8e6;white-space:nowrap;vertical-align:bottom;">% </td> <td style=" BORDER-LEFT:0.75pt solid #7fb8e6; BORDER-BOTTOM:0.75pt solid #7fb8e6;vertical-align:bottom;">    </td> <td style="padding-bottom:3pt ;BORDER-BOTTOM:0.75pt solid #7fb8e6;white-space:nowrap;vertical-align:bottom;"> </td> <td style="padding-bottom:3pt ;BORDER-BOTTOM:0.75pt solid #7fb8e6;white-space:nowrap;vertical-align:bottom;text-align:right;">1.70</td> <td style="padding-bottom:3pt ;BORDER-RIGHT:0.75pt solid #7fb8e6; BORDER-BOTTOM:0.75pt solid #7fb8e6; padding-right:2pt;white-space:nowrap;vertical-align:bottom;">% </td> </tr> </table> Class A Shares at NAV (excluding maximum sales charge) 0.0628 0.0047 0.0174 Class A Shares at maximum sales charge (Offering Price) 0.0180 -0.0038 0.0131 S&P Municipal Bond Index 0.0657 0.0114 0.0230 S&P Municipal Bond Ohio Index 0.0596 0.0090 0.0246 Lipper Ohio Municipal Debt Funds Classification Average 0.0675 0.0045 0.0170 For most recent month-end performance, go to https://www.nuveen.com/en-us/mutual-funds/prospectuses or call (800) 257‑8787. <div style="margin-top:0pt;margin-bottom:0pt;margin-left:2%;font-size:11pt;font-family:arial;"><span style="color:#0071ce"><span style="font-weight:bold">Fund Statistics (as of May 31, 2026) </span></span></div> <table cellpadding="0" cellspacing="0" style="border-collapse:collapse;font-family:arial;font-size:8pt;width:96%;border-spacing:0px;margin:0 auto"> <tr> <td style="width:87%;"></td> <td style="vertical-align:bottom;width:2%;"></td> <td></td> <td></td> <td style="vertical-align:bottom;width:2%;"></td> </tr> <tr style="font-size:1pt"> <td style="height:3pt;"></td> <td colspan="4" style="height:3pt;"></td> </tr> <tr style="page-break-inside:avoid;font-family:arial;font-size:8pt"> <td style="padding-bottom:3pt ;BORDER-BOTTOM:0.75pt solid #7fb8e6;vertical-align:top;"> <div style="margin-top:0pt;margin-bottom:0pt;margin-left:1.00em;text-indent:-1.00em;font-size:8pt;font-family:arial;">Fund net assets</div></td> <td style=" BORDER-BOTTOM:0.75pt solid #7fb8e6;vertical-align:bottom;">  </td> <td style="padding-bottom:3pt ;BORDER-BOTTOM:0.75pt solid #7fb8e6;white-space:nowrap;vertical-align:bottom;">$</td> <td style="padding-bottom:3pt ;BORDER-BOTTOM:0.75pt solid #7fb8e6;white-space:nowrap;vertical-align:bottom;text-align:right;">426,973,140</td> <td style="padding-bottom:3pt ;BORDER-BOTTOM:0.75pt solid #7fb8e6;white-space:nowrap;vertical-align:bottom;"> </td> </tr> <tr style="font-size:1pt"> <td style="height:3pt;"></td> <td colspan="4" style="height:3pt;"></td> </tr> <tr style="page-break-inside:avoid;font-family:arial;font-size:8pt"> <td style="padding-bottom:3pt ;BORDER-BOTTOM:0.75pt solid #7fb8e6;vertical-align:top;"> <div style="margin-top:0pt;margin-bottom:0pt;margin-left:1.00em;text-indent:-1.00em;font-size:8pt;font-family:arial;">Total number of portfolio holdings</div></td> <td style=" BORDER-BOTTOM:0.75pt solid #7fb8e6;vertical-align:bottom;">  </td> <td style="padding-bottom:3pt ;BORDER-BOTTOM:0.75pt solid #7fb8e6;white-space:nowrap;vertical-align:bottom;"> </td> <td style="padding-bottom:3pt ;BORDER-BOTTOM:0.75pt solid #7fb8e6;white-space:nowrap;vertical-align:bottom;text-align:right;">196</td> <td style="padding-bottom:3pt ;BORDER-BOTTOM:0.75pt solid #7fb8e6;white-space:nowrap;vertical-align:bottom;"> </td> </tr> <tr style="font-size:1pt"> <td style="height:3pt;"></td> <td colspan="4" style="height:3pt;"></td> </tr> <tr style="page-break-inside:avoid;font-family:arial;font-size:8pt"> <td style="padding-bottom:3pt ;BORDER-BOTTOM:0.75pt solid #7fb8e6;vertical-align:top;"> <div style="margin-top:0pt;margin-bottom:0pt;margin-left:1.00em;text-indent:-1.00em;font-size:8pt;font-family:arial;">Portfolio turnover (%)</div></td> <td style=" BORDER-BOTTOM:0.75pt solid #7fb8e6;vertical-align:bottom;">  </td> <td style="padding-bottom:3pt ;BORDER-BOTTOM:0.75pt solid #7fb8e6;white-space:nowrap;vertical-align:bottom;"> </td> <td style="padding-bottom:3pt ;BORDER-BOTTOM:0.75pt solid #7fb8e6;white-space:nowrap;vertical-align:bottom;text-align:right;">19%</td> <td style="padding-bottom:3pt ;BORDER-BOTTOM:0.75pt solid #7fb8e6;white-space:nowrap;vertical-align:bottom;"> </td> </tr> <tr style="font-size:1pt"> <td style="height:3pt;"></td> <td colspan="4" style="height:3pt;"></td> </tr> <tr style="page-break-inside:avoid;font-family:arial;font-size:8pt"> <td style="padding-bottom:3pt ;BORDER-BOTTOM:0.75pt solid #7fb8e6;vertical-align:top;"> <div style="margin-top:0pt;margin-bottom:0pt;margin-left:1.00em;text-indent:-1.00em;font-size:8pt;font-family:arial;">Total management fees paid for the year</div></td> <td style=" BORDER-BOTTOM:0.75pt solid #7fb8e6;vertical-align:bottom;">  </td> <td style="padding-bottom:3pt ;BORDER-BOTTOM:0.75pt solid #7fb8e6;white-space:nowrap;vertical-align:bottom;">$</td> <td style="padding-bottom:3pt ;BORDER-BOTTOM:0.75pt solid #7fb8e6;white-space:nowrap;vertical-align:bottom;text-align:right;">2,181,795</td> <td style="padding-bottom:3pt ;BORDER-BOTTOM:0.75pt solid #7fb8e6;white-space:nowrap;vertical-align:bottom;"> </td> </tr> </table> 426973140 196 0.19 2181795 <table cellpadding="0" cellspacing="0" style="border-collapse:collapse;font-family:arial;font-size:9pt;width:100%;border-spacing:0px;margin:0 auto"> <tr> <td style="width:50%;"></td> <td style="vertical-align:bottom;width:1%;"></td> <td style="width:49%;"></td> </tr> <tr style="page-break-inside:avoid;font-family:arial;font-size:9pt"> <td style="vertical-align:top;"> <div style="margin-top:0pt;margin-bottom:0pt;margin-left:1.11em;margin-right:1.11em;"> <img alt="LOGO" src="g133061g39s16.jpg"/> </div></td> <td style="vertical-align:bottom;"> </td> <td style="vertical-align:top;"> <div style="margin-top:0pt;margin-bottom:0pt;margin-left:1.11em;margin-right:1.11em;"> <img alt="LOGO" src="g133061g62g73.jpg"/> </div></td> </tr> </table> <table cellpadding="0" cellspacing="0" style="border-collapse:collapse;font-family:arial;font-size:8pt;border-spacing:0px;width:100%"> <tr style="page-break-inside:avoid"> <td style="width:1%;"> </td> <td style="width:4%;vertical-align:top;text-align:left;">(1)</td> <td style="vertical-align:top;text-align:left;"> <div style="margin-top:0pt;margin-bottom:0pt;font-size:8pt;font-family:arial;text-align:left;">The ratings disclosed are the highest rating given by one of the following national rating agencies: Standard &amp; Poor’s (S&amp;P), Moody’s Investors Service, Inc. (Moody’s) or Fitch, Inc (Fitch). This treatment of split-rated securities may differ from that used for other purposes, such as for Fund investment policies. Credit ratings are subject to change. AAA, AA, A, and BBB are investment grade ratings; BB, B, CCC, CC, C and D are below-investment grade ratings. Holdings designated N/R are not rated by these national ratings agencies. </div></td> </tr></table> The ratings disclosed are the highest rating given by one of the following national rating agencies: Standard &amp; Poor’s (S&amp;P), Moody’s Investors Service, Inc. (Moody’s) or Fitch, Inc (Fitch). This treatment of split-rated securities may differ from that used for other purposes, such as for Fund investment policies. Credit ratings are subject to change. AAA, AA, A, and BBB are investment grade ratings; BB, B, CCC, CC, C and D are below-investment grade ratings. Holdings designated N/R are not rated by these national ratings agencies. <div style="margin-top:0pt;margin-bottom:0pt;margin-left:2%;font-size:11pt;font-family:arial;"><span style="color:#0071ce"><span style="font-weight:bold">How has the Fund changed? </span></span></div><div style="margin-top:6pt;margin-bottom:0pt;margin-left:2%;font-size:9pt;font-family:arial;font-weight:bold;">For more complete information, you may review the Fund’s next prospectus, which is expected to be available by September 30, 2026 at https://www.nuveen.com/en-us/mutual-funds/prospectuses or upon request at (800) 257-8787. </div> <div style="margin-top:6pt;margin-bottom:0pt;margin-left:2%;font-size:9pt;font-family:arial;font-weight:bold;">For more complete information, you may review the Fund’s next prospectus, which is expected to be available by September 30, 2026 at https://www.nuveen.com/en-us/mutual-funds/prospectuses or upon request at (800) 257-8787. </div> https://www.nuveen.com/en-us/mutual-funds/prospectuses (800) 257-8787 Nuveen Ohio Municipal Bond Fund Class C Shares FAFMX This annual shareholder report contains important information about the Class C Shares of the Nuveen Ohio Municipal Bond Fund for the period of June 1, 2025 to May 31, 2026. annual shareholder report You can find additional information at https://www.nuveen.com/en-us/mutual-funds/prospectuses. You can also request this information by contacting us at (800) 257-8787. https://www.nuveen.com/en-us/mutual-funds/prospectuses (800) 257-8787 <div style="font-size: 9pt; font-family: arial; font-weight: bold; margin: 18pt 2% 0pt 2%;">This report describes changes to the Fund that occurred during the reporting period.</div> <div style="margin-top: 0pt; margin-bottom: 0pt; margin-left: 2%; font-size: 11pt; font-family: arial;"><span style="color: #0071ce;"><span style="font-weight: bold;">What were the Fund costs for the last year? </span></span><span style="font-family: arial;">(based on a hypothetical $10,000 investment)</span><span style="font-family: arial; color: #0071ce;"><span style="font-weight: bold;"> </span></span></div> <table cellpadding="0" cellspacing="0" style="border-collapse: collapse; font-family: arial; font-size: 8pt; width: 96%; border-spacing: 0px; margin: 0 auto;"> <tr> <td style="width: 33%;"></td> <td style="vertical-align: bottom;"></td> <td style="width: 33%;"></td> <td style="vertical-align: bottom;"></td> <td style="width: 32%;"></td> </tr> <tr style="font-size: 1pt;"> <td style="height: 3pt;"></td> <td colspan="2" style="border-left: 0.75pt solid #7fb8e6; border-top: 0.75pt solid #7fb8e6; height: 3pt;"> </td> <td colspan="2" style="border-left: 0.75pt solid #7fb8e6; border-top: 0.75pt solid #7fb8e6; border-right: 0.75pt solid #7fb8e6; height: 3pt;"> </td> </tr> <tr style="page-break-inside: avoid; font-family: arial; font-size: 8pt;"> <td style="vertical-align: bottom;"> </td> <td style="border-left: 0.75pt solid #7fb8e6; vertical-align: bottom;"> </td> <td style="padding-bottom: 3pt; vertical-align: middle; text-align: right;"><span style="font-weight: bold;">Cost of a $10,000 investment </span></td> <td style="border-left: 0.75pt solid #7fb8e6; vertical-align: bottom;"> </td> <td style="padding-bottom: 3pt; border-right: 0.75pt solid #7fb8e6; padding-right: 2pt; vertical-align: bottom; text-align: right;"><span style="font-weight: bold;">Costs paid as a percentage of<br/>$10,000 investment*</span></td> </tr> <tr style="font-size: 1pt;"> <td style="border-left: 0.75pt solid #7fb8e6; border-top: 0.75pt solid #7fb8e6; padding-left: 8pt; height: 3pt;"> </td> <td colspan="2" style="border-left: 0.75pt solid #7fb8e6; border-top: 0.75pt solid #7fb8e6; height: 3pt;"> </td> <td colspan="2" style="border-left: 0.75pt solid #7fb8e6; border-top: 0.75pt solid #7fb8e6; border-right: 0.75pt solid #7fb8e6; height: 3pt;"> </td> </tr> <tr style="page-break-inside: avoid; font-family: arial; font-size: 8pt;"> <td style="padding-bottom: 3pt; border-left: 0.75pt solid #7fb8e6; border-bottom: 0.75pt solid #7fb8e6; padding-left: 8pt; vertical-align: top;"> <div style="margin-top: 0pt; margin-bottom: 0pt; margin-left: 1.00em; text-indent: -1.00em; font-size: 8pt; font-family: arial;">Class C Shares</div> </td> <td style="border-left: 0.75pt solid #7fb8e6; border-bottom: 0.75pt solid #7fb8e6; vertical-align: bottom;"> </td> <td style="padding-bottom: 3pt; border-bottom: 0.75pt solid #7fb8e6; vertical-align: bottom; white-space: nowrap; text-align: right;">$160 </td> <td style="border-left: 0.75pt solid #7fb8e6; border-bottom: 0.75pt solid #7fb8e6; vertical-align: bottom;"> </td> <td style="padding-bottom: 3pt; border-right: 0.75pt solid #7fb8e6; border-bottom: 0.75pt solid #7fb8e6; padding-right: 2pt; vertical-align: bottom; white-space: nowrap; text-align: right;">1.56%</td> </tr> </table> <table cellpadding="0" cellspacing="0" style="border-collapse: collapse; font-family: arial; font-size: 8pt; border-spacing: 0px; width: 100%;"> <tr style="page-break-inside: avoid;"> <td style="width: 3%;"> </td> <td style="width: 1%; vertical-align: top; text-align: right;">*</td> <td style="width: 1%; vertical-align: top;"> </td> <td style="vertical-align: top; text-align: left;"> <div style="margin-top: 0pt; margin-bottom: 0pt; font-family: arial; font-size: 8pt; text-align: justify;">Annualized for period less than one year.</div> </td> <td style="width: 2%;"> </td> </tr> </table> 160 0.0156 <div style="margin-top: 0pt; margin-bottom: 0pt; margin-left: 2%; font-size: 11pt; font-family: arial;"><span style="color: #0071ce;"><span style="font-weight: bold;">How did the Fund perform last year? What affected the Fund’s performance? </span></span></div> <table cellpadding="0" cellspacing="0" style="border-collapse: collapse; font-family: arial; font-size: 9pt; width: 96%; border-spacing: 0px; margin: 0 auto;"> <tr> <td style="width: 100%;"></td> </tr> <tr style="page-break-inside: avoid; font-family: arial; font-size: 9pt;"> <td style="vertical-align: top;"> <div style="margin-top: 0pt; margin-bottom: 0pt; font-size: 9pt; font-family: arial; font-weight: bold;">Performance Highlights</div> <div style="font-size: 6pt; margin-top: 0pt; margin-bottom: 0pt;"> </div> <div style="margin-top: 0pt; margin-bottom: 0pt; margin-right: 1.11em; font-size: 9pt; font-family: arial;">The Nuveen Ohio Municipal Bond Fund returned 5.53% for Class C Shares at net asset value (NAV) for the 12 months ended May 31, 2026. The Fund underperformed the S&amp;P Municipal Bond Ohio Index, which returned 5.96%.</div> <div style="font-size: 6pt; margin-top: 0pt; margin-bottom: 0pt;"> </div> <div style="margin-top: 0pt; margin-bottom: 0pt; margin-right: 1.11em; font-size: 9pt; font-family: arial;">Top contributors to relative performance</div> <div style="font-size: 6pt; margin-top: 0pt; margin-bottom: 0pt;"> </div> <div style="margin-top: 0pt; margin-bottom: 0pt; margin-right: 1.67em; display: table-row;"> <div style="display: table-cell;"> <div style="margin-top: 0pt; margin-bottom: 0pt; margin-left: 2.222222em; font-family: arial;">•</div> </div> <div style="display: table-cell;"> <div style="margin-top: 0pt; margin-bottom: 0pt; margin-left: 0.538889em; font-family: arial;">Duration positioning, especially an overweight to longer-duration bonds and an underweight to shorter-duration bonds.</div> </div> </div> <div style="font-size: 6pt; margin-top: 0pt; margin-bottom: 0pt;"> </div> <div style="margin-top: 0pt; margin-bottom: 0pt; margin-right: 1.67em; display: table-row;"> <div style="display: table-cell;"> <div style="margin-top: 0pt; margin-bottom: 0pt; margin-left: 2.222222em; font-family: arial;">•</div> </div> <div style="display: table-cell;"> <div style="margin-top: 0pt; margin-bottom: 0pt; margin-left: 0.538889em; font-family: arial;">Credit quality positioning, especially an overweight to non-rated bonds.</div> </div> </div> <div style="font-size: 6pt; margin-top: 0pt; margin-bottom: 0pt;"> </div> <div style="margin-top: 0pt; margin-bottom: 0pt; margin-right: 1.67em; display: table-row;"> <div style="display: table-cell;"> <div style="margin-top: 0pt; margin-bottom: 0pt; margin-left: 2.222222em; font-family: arial;">•</div> </div> <div style="display: table-cell;"> <div style="margin-top: 0pt; margin-bottom: 0pt; margin-left: 0.538889em; font-family: arial;">Sector positioning, especially an overweight to dedicated-tax bonds.</div> </div> </div> <div style="font-size: 6pt; margin-top: 0pt; margin-bottom: 0pt;"> </div> <div style="margin-top: 0pt; margin-bottom: 0pt; margin-right: 1.11em; font-size: 9pt; font-family: arial;">Top detractors from relative performance</div> <div style="font-size: 6pt; margin-top: 0pt; margin-bottom: 0pt;"> </div> <div style="margin-top: 0pt; margin-bottom: 0pt; margin-right: 1.67em; display: table-row;"> <div style="display: table-cell;"> <div style="margin-top: 0pt; margin-bottom: 0pt; margin-left: 2.222222em; font-family: arial;">•</div> </div> <div style="display: table-cell;"> <div style="margin-top: 0pt; margin-bottom: 0pt; margin-left: 0.538889em; font-family: arial;">An underweight to the housing bond sector.</div> </div> </div> <div style="font-size: 6pt; margin-top: 0pt; margin-bottom: 0pt;"> </div> <div style="margin-top: 0pt; margin-bottom: 0pt; margin-right: 1.67em; display: table-row;"> <div style="display: table-cell;"> <div style="margin-top: 0pt; margin-bottom: 0pt; margin-left: 2.222222em; font-family: arial;">•</div> </div> <div style="display: table-cell;"> <div style="margin-top: 0pt; margin-bottom: 0pt; margin-left: 0.538889em; font-family: arial;">Security selection.</div> </div> </div> </td> </tr> </table> Performance data shown represents past performance and does not predict or guarantee future results. The<span style="font-weight: bold;"> </span>graph and table do not reflect the deduction of taxes that a shareholder would pay on Fund distributions or redemption of Fund Shares. <div style="margin: 0pt 2% 0pt 2%;"> <img alt="LOGO" src="g133061g41g41.jpg"/> </div> <div style="font-size: 9pt; font-family: arial; font-weight: bold; margin: 0pt 2% 0pt 2%;">Average Annual Total Returns</div> <table cellpadding="0" cellspacing="0" style="border-collapse: collapse; font-family: arial; font-size: 8pt; width: 96%; border-spacing: 0px; margin: 0 auto;"> <tr> <td style="width: 64%;"></td> <td style="vertical-align: bottom; width: 6%;"></td> <td></td> <td></td> <td style="vertical-align: bottom; width: 3%;"></td> <td style="vertical-align: bottom; width: 6%;"></td> <td></td> <td></td> <td style="vertical-align: bottom; width: 3%;"></td> <td style="vertical-align: bottom; width: 6%;"></td> <td></td> <td></td> <td style="vertical-align: bottom; width: 3%;"></td> </tr> <tr style="font-size: 1pt;"> <td style="height: 3pt;"></td> <td colspan="4" style="border-left: 0.75pt solid #7fb8e6; border-top: 0.75pt solid #7fb8e6; border-right: 0.75pt solid #7fb8e6; height: 3pt;"> </td> <td colspan="4" style="border-top: 0.75pt solid #7fb8e6; height: 3pt;"> </td> <td colspan="4" style="border-left: 0.75pt solid #7fb8e6; border-top: 0.75pt solid #7fb8e6; border-right: 0.75pt solid #7fb8e6; height: 3pt;"> </td> </tr> <tr style="page-break-inside: avoid; font-family: arial; font-size: 8pt;"> <td style="vertical-align: top;"> </td> <td style="border-left: 0.75pt solid #7fb8e6; vertical-align: bottom;">    </td> <td colspan="2" style="padding-bottom: 3pt; vertical-align: bottom; white-space: nowrap; text-align: center;"><span style="font-weight: bold;">1-Year</span></td> <td style="border-right: 0.75pt solid #7fb8e6; vertical-align: bottom;"> </td> <td style="vertical-align: bottom;">    </td> <td colspan="2" style="padding-bottom: 3pt; vertical-align: bottom; white-space: nowrap; text-align: center;"><span style="font-weight: bold;">5-Year</span></td> <td style="vertical-align: bottom;"> </td> <td style="border-left: 0.75pt solid #7fb8e6; vertical-align: bottom;">    </td> <td colspan="2" style="padding-bottom: 3pt; vertical-align: bottom; white-space: nowrap; text-align: center;"><span style="font-weight: bold;">10-Year</span></td> <td style="border-right: 0.75pt solid #7fb8e6; padding-right: 2pt; vertical-align: bottom;"> </td> </tr> <tr style="font-size: 1pt;"> <td style="border-left: 0.75pt solid #7fb8e6; border-top: 0.75pt solid #7fb8e6; padding-left: 8pt; height: 3pt;"> </td> <td colspan="4" style="border-left: 0.75pt solid #7fb8e6; border-top: 0.75pt solid #7fb8e6; border-right: 0.75pt solid #7fb8e6; height: 3pt;"> </td> <td colspan="4" style="border-top: 0.75pt solid #7fb8e6; height: 3pt;"> </td> <td colspan="4" style="border-left: 0.75pt solid #7fb8e6; border-top: 0.75pt solid #7fb8e6; border-right: 0.75pt solid #7fb8e6; height: 3pt;"> </td> </tr> <tr style="page-break-inside: avoid; font-family: arial; font-size: 8pt;"> <td style="padding-bottom: 3pt; border-left: 0.75pt solid #7fb8e6; padding-left: 8pt; vertical-align: top;"> <div style="margin-top: 0pt; margin-bottom: 0pt; margin-left: 1.00em; text-indent: -1.00em; font-size: 8pt; font-family: arial;">Class C Shares at NAV (excluding maximum sales charge)</div> </td> <td style="border-left: 0.75pt solid #7fb8e6; vertical-align: bottom;">    </td> <td style="padding-bottom: 3pt; white-space: nowrap; vertical-align: bottom;"> </td> <td style="padding-bottom: 3pt; white-space: nowrap; vertical-align: bottom; text-align: right;">5.53</td> <td style="padding-bottom: 3pt; border-right: 0.75pt solid #7fb8e6; white-space: nowrap; vertical-align: bottom;">% </td> <td style="vertical-align: bottom;">    </td> <td style="padding-bottom: 3pt; white-space: nowrap; vertical-align: bottom;"> </td> <td style="padding-bottom: 3pt; white-space: nowrap; vertical-align: bottom; text-align: right;">(0.34</td> <td style="padding-bottom: 3pt; white-space: nowrap; vertical-align: bottom;">)% </td> <td style="border-left: 0.75pt solid #7fb8e6; vertical-align: bottom;">    </td> <td style="padding-bottom: 3pt; white-space: nowrap; vertical-align: bottom;"> </td> <td style="padding-bottom: 3pt; white-space: nowrap; vertical-align: bottom; text-align: right;">1.08</td> <td style="padding-bottom: 3pt; border-right: 0.75pt solid #7fb8e6; padding-right: 2pt; white-space: nowrap; vertical-align: bottom;">% </td> </tr> <tr style="font-size: 1pt;"> <td style="border-left: 0.75pt solid #7fb8e6; border-top: 0.75pt solid #7fb8e6; padding-left: 8pt; height: 3pt;"> </td> <td colspan="4" style="border-left: 0.75pt solid #7fb8e6; border-top: 0.75pt solid #7fb8e6; border-right: 0.75pt solid #7fb8e6; height: 3pt;"> </td> <td colspan="4" style="border-top: 0.75pt solid #7fb8e6; height: 3pt;"> </td> <td colspan="4" style="border-left: 0.75pt solid #7fb8e6; border-top: 0.75pt solid #7fb8e6; border-right: 0.75pt solid #7fb8e6; height: 3pt;"> </td> </tr> <tr style="page-break-inside: avoid; font-family: arial; font-size: 8pt;"> <td style="padding-bottom: 3pt; border-left: 0.75pt solid #7fb8e6; padding-left: 8pt; vertical-align: top;"> <div style="margin-top: 0pt; margin-bottom: 0pt; margin-left: 1.00em; text-indent: -1.00em; font-size: 8pt; font-family: arial;">S&amp;P Municipal Bond Index</div> </td> <td style="border-left: 0.75pt solid #7fb8e6; vertical-align: bottom;">    </td> <td style="padding-bottom: 3pt; white-space: nowrap; vertical-align: bottom;"> </td> <td style="padding-bottom: 3pt; white-space: nowrap; vertical-align: bottom; text-align: right;">6.57</td> <td style="padding-bottom: 3pt; border-right: 0.75pt solid #7fb8e6; white-space: nowrap; vertical-align: bottom;">% </td> <td style="vertical-align: bottom;">    </td> <td style="padding-bottom: 3pt; white-space: nowrap; vertical-align: bottom;"> </td> <td style="padding-bottom: 3pt; white-space: nowrap; vertical-align: bottom; text-align: right;">1.14</td> <td style="padding-bottom: 3pt; white-space: nowrap; vertical-align: bottom;">% </td> <td style="border-left: 0.75pt solid #7fb8e6; vertical-align: bottom;">    </td> <td style="padding-bottom: 3pt; white-space: nowrap; vertical-align: bottom;"> </td> <td style="padding-bottom: 3pt; white-space: nowrap; vertical-align: bottom; text-align: right;">2.30</td> <td style="padding-bottom: 3pt; border-right: 0.75pt solid #7fb8e6; padding-right: 2pt; white-space: nowrap; vertical-align: bottom;">% </td> </tr> <tr style="font-size: 1pt;"> <td style="border-left: 0.75pt solid #7fb8e6; border-top: 0.75pt solid #7fb8e6; padding-left: 8pt; height: 3pt;"> </td> <td colspan="4" style="border-left: 0.75pt solid #7fb8e6; border-top: 0.75pt solid #7fb8e6; border-right: 0.75pt solid #7fb8e6; height: 3pt;"> </td> <td colspan="4" style="border-top: 0.75pt solid #7fb8e6; height: 3pt;"> </td> <td colspan="4" style="border-left: 0.75pt solid #7fb8e6; border-top: 0.75pt solid #7fb8e6; border-right: 0.75pt solid #7fb8e6; height: 3pt;"> </td> </tr> <tr style="page-break-inside: avoid; font-family: arial; font-size: 8pt;"> <td style="padding-bottom: 3pt; border-left: 0.75pt solid #7fb8e6; padding-left: 8pt; vertical-align: top;"> <div style="margin-top: 0pt; margin-bottom: 0pt; margin-left: 1.00em; text-indent: -1.00em; font-size: 8pt; font-family: arial;">S&amp;P Municipal Bond Ohio Index</div> </td> <td style="border-left: 0.75pt solid #7fb8e6; vertical-align: bottom;">    </td> <td style="padding-bottom: 3pt; white-space: nowrap; vertical-align: bottom;"> </td> <td style="padding-bottom: 3pt; white-space: nowrap; vertical-align: bottom; text-align: right;">5.96</td> <td style="padding-bottom: 3pt; border-right: 0.75pt solid #7fb8e6; white-space: nowrap; vertical-align: bottom;">% </td> <td style="vertical-align: bottom;">    </td> <td style="padding-bottom: 3pt; white-space: nowrap; vertical-align: bottom;"> </td> <td style="padding-bottom: 3pt; white-space: nowrap; vertical-align: bottom; text-align: right;">0.90</td> <td style="padding-bottom: 3pt; white-space: nowrap; vertical-align: bottom;">% </td> <td style="border-left: 0.75pt solid #7fb8e6; vertical-align: bottom;">    </td> <td style="padding-bottom: 3pt; white-space: nowrap; vertical-align: bottom;"> </td> <td style="padding-bottom: 3pt; white-space: nowrap; vertical-align: bottom; text-align: right;">2.46</td> <td style="padding-bottom: 3pt; border-right: 0.75pt solid #7fb8e6; padding-right: 2pt; white-space: nowrap; vertical-align: bottom;">% </td> </tr> <tr style="font-size: 1pt;"> <td style="border-left: 0.75pt solid #7fb8e6; border-top: 0.75pt solid #7fb8e6; padding-left: 8pt; height: 3pt;"> </td> <td colspan="4" style="border-left: 0.75pt solid #7fb8e6; border-top: 0.75pt solid #7fb8e6; border-right: 0.75pt solid #7fb8e6; height: 3pt;"> </td> <td colspan="4" style="border-top: 0.75pt solid #7fb8e6; height: 3pt;"> </td> <td colspan="4" style="border-left: 0.75pt solid #7fb8e6; border-top: 0.75pt solid #7fb8e6; border-right: 0.75pt solid #7fb8e6; height: 3pt;"> </td> </tr> <tr style="page-break-inside: avoid; font-family: arial; font-size: 8pt;"> <td style="padding-bottom: 3pt; border-left: 0.75pt solid #7fb8e6; border-bottom: 0.75pt solid #7fb8e6; padding-left: 8pt; vertical-align: top;"> <div style="margin-top: 0pt; margin-bottom: 0pt; margin-left: 1.00em; text-indent: -1.00em; font-size: 8pt; font-family: arial;">Lipper Ohio Municipal Debt Funds Classification Average</div> </td> <td style="border-left: 0.75pt solid #7fb8e6; border-bottom: 0.75pt solid #7fb8e6; vertical-align: bottom;">    </td> <td style="padding-bottom: 3pt; border-bottom: 0.75pt solid #7fb8e6; white-space: nowrap; vertical-align: bottom;"> </td> <td style="padding-bottom: 3pt; border-bottom: 0.75pt solid #7fb8e6; white-space: nowrap; vertical-align: bottom; text-align: right;">6.75</td> <td style="padding-bottom: 3pt; border-right: 0.75pt solid #7fb8e6; border-bottom: 0.75pt solid #7fb8e6; white-space: nowrap; vertical-align: bottom;">% </td> <td style="border-bottom: 0.75pt solid #7fb8e6; vertical-align: bottom;">    </td> <td style="padding-bottom: 3pt; border-bottom: 0.75pt solid #7fb8e6; white-space: nowrap; vertical-align: bottom;"> </td> <td style="padding-bottom: 3pt; border-bottom: 0.75pt solid #7fb8e6; white-space: nowrap; vertical-align: bottom; text-align: right;">0.45</td> <td style="padding-bottom: 3pt; border-bottom: 0.75pt solid #7fb8e6; white-space: nowrap; vertical-align: bottom;">% </td> <td style="border-left: 0.75pt solid #7fb8e6; border-bottom: 0.75pt solid #7fb8e6; vertical-align: bottom;">    </td> <td style="padding-bottom: 3pt; border-bottom: 0.75pt solid #7fb8e6; white-space: nowrap; vertical-align: bottom;"> </td> <td style="padding-bottom: 3pt; border-bottom: 0.75pt solid #7fb8e6; white-space: nowrap; vertical-align: bottom; text-align: right;">1.70</td> <td style="padding-bottom: 3pt; border-right: 0.75pt solid #7fb8e6; border-bottom: 0.75pt solid #7fb8e6; padding-right: 2pt; white-space: nowrap; vertical-align: bottom;">% </td> </tr> </table> Class C Shares at NAV (excluding maximum sales charge) 0.0553 -0.0034 0.0108 S&P Municipal Bond Index 0.0657 0.0114 0.0230 S&P Municipal Bond Ohio Index 0.0596 0.0090 0.0246 Lipper Ohio Municipal Debt Funds Classification Average 0.0675 0.0045 0.0170 For most recent month-end performance, go to https://www.nuveen.com/en-us/mutual-funds/prospectuses or call (800) 257‑8787. <div style="margin-top: 0pt; margin-bottom: 0pt; margin-left: 2%; font-size: 11pt; font-family: arial;"><span style="color: #0071ce;"><span style="font-weight: bold;">Fund Statistics (as of May 31, 2026) </span></span></div> <table cellpadding="0" cellspacing="0" style="border-collapse: collapse; font-family: arial; font-size: 8pt; width: 96%; border-spacing: 0px; margin: 0 auto;"> <tr> <td style="width: 87%;"></td> <td style="vertical-align: bottom; width: 2%;"></td> <td></td> <td></td> <td style="vertical-align: bottom; width: 2%;"></td> </tr> <tr style="font-size: 1pt;"> <td style="height: 3pt;"></td> <td colspan="4" style="height: 3pt;"></td> </tr> <tr style="page-break-inside: avoid; font-family: arial; font-size: 8pt;"> <td style="padding-bottom: 3pt; border-bottom: 0.75pt solid #7fb8e6; vertical-align: top;"> <div style="margin-top: 0pt; margin-bottom: 0pt; margin-left: 1.00em; text-indent: -1.00em; font-size: 8pt; font-family: arial;">Fund net assets</div> </td> <td style="border-bottom: 0.75pt solid #7fb8e6; vertical-align: bottom;">  </td> <td style="padding-bottom: 3pt; border-bottom: 0.75pt solid #7fb8e6; white-space: nowrap; vertical-align: bottom;">$</td> <td style="padding-bottom: 3pt; border-bottom: 0.75pt solid #7fb8e6; white-space: nowrap; vertical-align: bottom; text-align: right;">426,973,140</td> <td style="padding-bottom: 3pt; border-bottom: 0.75pt solid #7fb8e6; white-space: nowrap; vertical-align: bottom;"> </td> </tr> <tr style="font-size: 1pt;"> <td style="height: 3pt;"></td> <td colspan="4" style="height: 3pt;"></td> </tr> <tr style="page-break-inside: avoid; font-family: arial; font-size: 8pt;"> <td style="padding-bottom: 3pt; border-bottom: 0.75pt solid #7fb8e6; vertical-align: top;"> <div style="margin-top: 0pt; margin-bottom: 0pt; margin-left: 1.00em; text-indent: -1.00em; font-size: 8pt; font-family: arial;">Total number of portfolio holdings</div> </td> <td style="border-bottom: 0.75pt solid #7fb8e6; vertical-align: bottom;">  </td> <td style="padding-bottom: 3pt; border-bottom: 0.75pt solid #7fb8e6; white-space: nowrap; vertical-align: bottom;"> </td> <td style="padding-bottom: 3pt; border-bottom: 0.75pt solid #7fb8e6; white-space: nowrap; vertical-align: bottom; text-align: right;">196</td> <td style="padding-bottom: 3pt; border-bottom: 0.75pt solid #7fb8e6; white-space: nowrap; vertical-align: bottom;"> </td> </tr> <tr style="font-size: 1pt;"> <td style="height: 3pt;"></td> <td colspan="4" style="height: 3pt;"></td> </tr> <tr style="page-break-inside: avoid; font-family: arial; font-size: 8pt;"> <td style="padding-bottom: 3pt; border-bottom: 0.75pt solid #7fb8e6; vertical-align: top;"> <div style="margin-top: 0pt; margin-bottom: 0pt; margin-left: 1.00em; text-indent: -1.00em; font-size: 8pt; font-family: arial;">Portfolio turnover (%)</div> </td> <td style="border-bottom: 0.75pt solid #7fb8e6; vertical-align: bottom;">  </td> <td style="padding-bottom: 3pt; border-bottom: 0.75pt solid #7fb8e6; white-space: nowrap; vertical-align: bottom;"> </td> <td style="padding-bottom: 3pt; border-bottom: 0.75pt solid #7fb8e6; white-space: nowrap; vertical-align: bottom; text-align: right;">19%</td> <td style="padding-bottom: 3pt; border-bottom: 0.75pt solid #7fb8e6; white-space: nowrap; vertical-align: bottom;"> </td> </tr> <tr style="font-size: 1pt;"> <td style="height: 3pt;"></td> <td colspan="4" style="height: 3pt;"></td> </tr> <tr style="page-break-inside: avoid; font-family: arial; font-size: 8pt;"> <td style="padding-bottom: 3pt; border-bottom: 0.75pt solid #7fb8e6; vertical-align: top;"> <div style="margin-top: 0pt; margin-bottom: 0pt; margin-left: 1.00em; text-indent: -1.00em; font-size: 8pt; font-family: arial;">Total management fees paid for the year</div> </td> <td style="border-bottom: 0.75pt solid #7fb8e6; vertical-align: bottom;">  </td> <td style="padding-bottom: 3pt; border-bottom: 0.75pt solid #7fb8e6; white-space: nowrap; vertical-align: bottom;">$</td> <td style="padding-bottom: 3pt; border-bottom: 0.75pt solid #7fb8e6; white-space: nowrap; vertical-align: bottom; text-align: right;">2,181,795</td> <td style="padding-bottom: 3pt; border-bottom: 0.75pt solid #7fb8e6; white-space: nowrap; vertical-align: bottom;"> </td> </tr> </table> 426973140 196 0.19 2181795 <table cellpadding="0" cellspacing="0" style="border-collapse: collapse; font-family: arial; font-size: 9pt; width: 100%; border-spacing: 0px; margin: 0 auto;"> <tr> <td style="width: 50%;"></td> <td style="vertical-align: bottom; width: 1%;"></td> <td style="width: 49%;"></td> </tr> <tr style="page-break-inside: avoid; font-family: arial; font-size: 9pt;"> <td style="vertical-align: top;"> <div style="margin: 0pt 1.11em 0pt 1.11em;"> <img alt="LOGO" src="g133061g14l47.jpg"/> </div> </td> <td style="vertical-align: bottom;"> </td> <td style="vertical-align: top;"> <div style="margin: 0pt 1.11em 0pt 1.11em;"> <img alt="LOGO" src="g133061g02i93.jpg"/> </div> </td> </tr> </table> <table cellpadding="0" cellspacing="0" style="border-collapse: collapse; font-family: arial; font-size: 8pt; border-spacing: 0px; width: 100%;"> <tr style="page-break-inside: avoid;"> <td style="width: 1%;"> </td> <td style="width: 4%; vertical-align: top; text-align: left;">(1)</td> <td style="vertical-align: top; text-align: left;"> <div style="margin-top: 0pt; margin-bottom: 0pt; font-size: 8pt; font-family: arial; text-align: left;">The ratings disclosed are the highest rating given by one of the following national rating agencies: Standard &amp; Poor’s (S&amp;P), Moody’s Investors Service, Inc. (Moody’s) or Fitch, Inc (Fitch). This treatment of split-rated securities may differ from that used for other purposes, such as for Fund investment policies. Credit ratings are subject to change. AAA, AA, A, and BBB are investment grade ratings; BB, B, CCC, CC, C and D are below-investment grade ratings. Holdings designated N/R are not rated by these national ratings agencies.</div> </td> </tr> </table> The ratings disclosed are the highest rating given by one of the following national rating agencies: Standard &amp; Poor’s (S&amp;P), Moody’s Investors Service, Inc. (Moody’s) or Fitch, Inc (Fitch). This treatment of split-rated securities may differ from that used for other purposes, such as for Fund investment policies. Credit ratings are subject to change. AAA, AA, A, and BBB are investment grade ratings; BB, B, CCC, CC, C and D are below-investment grade ratings. Holdings designated N/R are not rated by these national ratings agencies. <div style="margin-top: 0pt; margin-bottom: 0pt; margin-left: 2%; font-size: 11pt; font-family: arial;"><span style="color: #0071ce;"><span style="font-weight: bold;">How has the Fund changed? </span></span></div> <div style="margin-top: 6pt; margin-bottom: 0pt; margin-left: 2%; font-size: 9pt; font-family: arial; font-weight: bold;">For more complete information, you may review the Fund’s next prospectus, which is expected to be available by September 30, 2026 at https://www.nuveen.com/en-us/mutual-funds/prospectuses or upon request at (800) 257-8787.</div> <div style="margin-top: 6pt; margin-bottom: 0pt; margin-left: 2%; font-size: 9pt; font-family: arial; font-weight: bold;">For more complete information, you may review the Fund’s next prospectus, which is expected to be available by September 30, 2026 at https://www.nuveen.com/en-us/mutual-funds/prospectuses or upon request at (800) 257-8787.</div> https://www.nuveen.com/en-us/mutual-funds/prospectuses (800) 257-8787 Nuveen Ohio Municipal Bond Fund Class I Shares NXOHX This annual shareholder report contains important information about the Class I Shares of the Nuveen Ohio Municipal Bond Fund for the period of June 1, 2025 to May 31, 2026. annual shareholder report You can find additional information at https://www.nuveen.com/en-us/mutual-funds/prospectuses. You can also request this information by contacting us at (800) 257-8787. https://www.nuveen.com/en-us/mutual-funds/prospectuses (800) 257-8787 <div style="font-size: 9pt; font-family: arial; font-weight: bold; margin: 18pt 2% 0pt 2%;">This report describes changes to the Fund that occurred during the reporting period.</div> <div style="margin-top: 0pt; margin-bottom: 0pt; margin-left: 2%; font-size: 11pt; font-family: arial;"><span style="color: #0071ce;"><span style="font-weight: bold;">What were the Fund costs for the last year? </span></span><span style="font-family: arial;">(based on a hypothetical $10,000 investment)</span><span style="font-family: arial; color: #0071ce;"><span style="font-weight: bold;"> </span></span></div> <table cellpadding="0" cellspacing="0" style="border-collapse: collapse; font-family: arial; font-size: 8pt; width: 96%; border-spacing: 0px; margin: 0 auto;"> <tr> <td style="width: 33%;"></td> <td style="vertical-align: bottom;"></td> <td style="width: 33%;"></td> <td style="vertical-align: bottom;"></td> <td style="width: 32%;"></td> </tr> <tr style="font-size: 1pt;"> <td style="height: 3pt;"></td> <td colspan="2" style="border-left: 0.75pt solid #7fb8e6; border-top: 0.75pt solid #7fb8e6; height: 3pt;"> </td> <td colspan="2" style="border-left: 0.75pt solid #7fb8e6; border-top: 0.75pt solid #7fb8e6; border-right: 0.75pt solid #7fb8e6; height: 3pt;"> </td> </tr> <tr style="page-break-inside: avoid; font-family: arial; font-size: 8pt;"> <td style="vertical-align: bottom;"> </td> <td style="border-left: 0.75pt solid #7fb8e6; vertical-align: bottom;"> </td> <td style="padding-bottom: 3pt; vertical-align: middle; text-align: right;"><span style="font-weight: bold;">Cost of a $10,000 investment </span></td> <td style="border-left: 0.75pt solid #7fb8e6; vertical-align: bottom;"> </td> <td style="padding-bottom: 3pt; border-right: 0.75pt solid #7fb8e6; padding-right: 2pt; vertical-align: bottom; text-align: right;"><span style="font-weight: bold;">Costs paid as a percentage of<br/>$10,000 investment*</span></td> </tr> <tr style="font-size: 1pt;"> <td style="border-left: 0.75pt solid #7fb8e6; border-top: 0.75pt solid #7fb8e6; padding-left: 8pt; height: 3pt;"> </td> <td colspan="2" style="border-left: 0.75pt solid #7fb8e6; border-top: 0.75pt solid #7fb8e6; height: 3pt;"> </td> <td colspan="2" style="border-left: 0.75pt solid #7fb8e6; border-top: 0.75pt solid #7fb8e6; border-right: 0.75pt solid #7fb8e6; height: 3pt;"> </td> </tr> <tr style="page-break-inside: avoid; font-family: arial; font-size: 8pt;"> <td style="padding-bottom: 3pt; border-left: 0.75pt solid #7fb8e6; border-bottom: 0.75pt solid #7fb8e6; padding-left: 8pt; vertical-align: top;"> <div style="margin-top: 0pt; margin-bottom: 0pt; margin-left: 1.00em; text-indent: -1.00em; font-size: 8pt; font-family: arial;">Class I Shares</div> </td> <td style="border-left: 0.75pt solid #7fb8e6; border-bottom: 0.75pt solid #7fb8e6; vertical-align: bottom;"> </td> <td style="padding-bottom: 3pt; border-bottom: 0.75pt solid #7fb8e6; vertical-align: bottom; white-space: nowrap; text-align: right;">$58 </td> <td style="border-left: 0.75pt solid #7fb8e6; border-bottom: 0.75pt solid #7fb8e6; vertical-align: bottom;"> </td> <td style="padding-bottom: 3pt; border-right: 0.75pt solid #7fb8e6; border-bottom: 0.75pt solid #7fb8e6; padding-right: 2pt; vertical-align: bottom; white-space: nowrap; text-align: right;">0.56%</td> </tr> </table> <table cellpadding="0" cellspacing="0" style="border-collapse: collapse; font-family: arial; font-size: 8pt; border-spacing: 0px; width: 100%;"> <tr style="page-break-inside: avoid;"> <td style="width: 3%;"> </td> <td style="width: 1%; vertical-align: top; text-align: right;">*</td> <td style="width: 1%; vertical-align: top;"> </td> <td style="vertical-align: top; text-align: left;"> <div style="margin-top: 0pt; margin-bottom: 0pt; font-family: arial; font-size: 8pt; text-align: justify;">Annualized for period less than one year.</div> </td> <td style="width: 2%;"> </td> </tr> </table> 58 0.0056 <div style="margin-top: 0pt; margin-bottom: 0pt; margin-left: 2%; font-size: 11pt; font-family: arial;"><span style="color: #0071ce;"><span style="font-weight: bold;">How did the Fund perform last year? What affected the Fund’s performance? </span></span></div> <table cellpadding="0" cellspacing="0" style="border-collapse: collapse; font-family: arial; font-size: 9pt; width: 96%; border-spacing: 0px; margin: 0 auto;"> <tr> <td style="width: 100%;"></td> </tr> <tr style="page-break-inside: avoid; font-family: arial; font-size: 9pt;"> <td style="vertical-align: top;"> <div style="margin-top: 0pt; margin-bottom: 0pt; font-size: 9pt; font-family: arial; font-weight: bold;">Performance Highlights</div> <div style="font-size: 6pt; margin-top: 0pt; margin-bottom: 0pt;"> </div> <div style="margin-top: 0pt; margin-bottom: 0pt; margin-right: 1.11em; font-size: 9pt; font-family: arial;">The Nuveen Ohio Municipal Bond Fund returned 6.50% for Class I Shares at net asset value (NAV) for the 12 months ended May 31, 2026. The Fund outperformed the S&amp;P Municipal Bond Ohio Index, which returned 5.96%.</div> <div style="font-size: 6pt; margin-top: 0pt; margin-bottom: 0pt;"> </div> <div style="margin-top: 0pt; margin-bottom: 0pt; margin-right: 1.11em; font-size: 9pt; font-family: arial;">Top contributors to relative performance</div> <div style="font-size: 6pt; margin-top: 0pt; margin-bottom: 0pt;"> </div> <div style="margin-top: 0pt; margin-bottom: 0pt; margin-right: 1.67em; display: table-row;"> <div style="display: table-cell;"> <div style="margin-top: 0pt; margin-bottom: 0pt; margin-left: 2.222222em; font-family: arial;">•</div> </div> <div style="display: table-cell;"> <div style="margin-top: 0pt; margin-bottom: 0pt; margin-left: 0.538889em; font-family: arial;">Duration positioning, especially an overweight to longer-duration bonds and an underweight to shorter-duration bonds.</div> </div> </div> <div style="font-size: 6pt; margin-top: 0pt; margin-bottom: 0pt;"> </div> <div style="margin-top: 0pt; margin-bottom: 0pt; margin-right: 1.67em; display: table-row;"> <div style="display: table-cell;"> <div style="margin-top: 0pt; margin-bottom: 0pt; margin-left: 2.222222em; font-family: arial;">•</div> </div> <div style="display: table-cell;"> <div style="margin-top: 0pt; margin-bottom: 0pt; margin-left: 0.538889em; font-family: arial;">Credit quality positioning, especially an overweight to non-rated bonds.</div> </div> </div> <div style="font-size: 6pt; margin-top: 0pt; margin-bottom: 0pt;"> </div> <div style="margin-top: 0pt; margin-bottom: 0pt; margin-right: 1.67em; display: table-row;"> <div style="display: table-cell;"> <div style="margin-top: 0pt; margin-bottom: 0pt; margin-left: 2.222222em; font-family: arial;">•</div> </div> <div style="display: table-cell;"> <div style="margin-top: 0pt; margin-bottom: 0pt; margin-left: 0.538889em; font-family: arial;">Sector positioning, especially an overweight to dedicated-tax bonds.</div> </div> </div> <div style="font-size: 6pt; margin-top: 0pt; margin-bottom: 0pt;"> </div> <div style="margin-top: 0pt; margin-bottom: 0pt; margin-right: 1.11em; font-size: 9pt; font-family: arial;">Top detractors from relative performance</div> <div style="font-size: 6pt; margin-top: 0pt; margin-bottom: 0pt;"> </div> <div style="margin-top: 0pt; margin-bottom: 0pt; margin-right: 1.67em; display: table-row;"> <div style="display: table-cell;"> <div style="margin-top: 0pt; margin-bottom: 0pt; margin-left: 2.222222em; font-family: arial;">•</div> </div> <div style="display: table-cell;"> <div style="margin-top: 0pt; margin-bottom: 0pt; margin-left: 0.538889em; font-family: arial;">An underweight to the housing bond sector.</div> </div> </div> <div style="font-size: 6pt; margin-top: 0pt; margin-bottom: 0pt;"> </div> <div style="margin-top: 0pt; margin-bottom: 0pt; margin-right: 1.67em; display: table-row;"> <div style="display: table-cell;"> <div style="margin-top: 0pt; margin-bottom: 0pt; margin-left: 2.222222em; font-family: arial;">•</div> </div> <div style="display: table-cell;"> <div style="margin-top: 0pt; margin-bottom: 0pt; margin-left: 0.538889em; font-family: arial;">Security selection.</div> </div> </div> </td> </tr> </table> Performance data shown represents past performance and does not predict or guarantee future results. The<span style="font-weight: bold;"> </span>graph and table do not reflect the deduction of taxes that a shareholder would pay on Fund distributions or redemption of Fund Shares. <div style="margin: 0pt 2% 0pt 2%;"> <img alt="LOGO" src="g133061g44g44.jpg"/> </div> <div style="font-size: 9pt; font-family: arial; font-weight: bold; margin: 0pt 2% 0pt 2%;">Average Annual Total Returns</div> <table cellpadding="0" cellspacing="0" style="border-collapse: collapse; font-family: arial; font-size: 8pt; width: 96%; border-spacing: 0px; margin: 0 auto;"> <tr> <td style="width: 64%;"></td> <td style="vertical-align: bottom; width: 6%;"></td> <td></td> <td></td> <td style="vertical-align: bottom; width: 3%;"></td> <td style="vertical-align: bottom; width: 6%;"></td> <td></td> <td></td> <td style="vertical-align: bottom; width: 3%;"></td> <td style="vertical-align: bottom; width: 6%;"></td> <td></td> <td></td> <td style="vertical-align: bottom; width: 3%;"></td> </tr> <tr style="font-size: 1pt;"> <td style="height: 3pt;"></td> <td colspan="4" style="border-left: 0.75pt solid #7fb8e6; border-top: 0.75pt solid #7fb8e6; border-right: 0.75pt solid #7fb8e6; height: 3pt;"> </td> <td colspan="4" style="border-top: 0.75pt solid #7fb8e6; height: 3pt;"> </td> <td colspan="4" style="border-left: 0.75pt solid #7fb8e6; border-top: 0.75pt solid #7fb8e6; border-right: 0.75pt solid #7fb8e6; height: 3pt;"> </td> </tr> <tr style="page-break-inside: avoid; font-family: arial; font-size: 8pt;"> <td style="vertical-align: top;"> </td> <td style="border-left: 0.75pt solid #7fb8e6; vertical-align: bottom;">    </td> <td colspan="2" style="padding-bottom: 3pt; vertical-align: bottom; white-space: nowrap; text-align: center;"><span style="font-weight: bold;">1-Year</span></td> <td style="border-right: 0.75pt solid #7fb8e6; vertical-align: bottom;"> </td> <td style="vertical-align: bottom;">    </td> <td colspan="2" style="padding-bottom: 3pt; vertical-align: bottom; white-space: nowrap; text-align: center;"><span style="font-weight: bold;">5-Year</span></td> <td style="vertical-align: bottom;"> </td> <td style="border-left: 0.75pt solid #7fb8e6; vertical-align: bottom;">    </td> <td colspan="2" style="padding-bottom: 3pt; vertical-align: bottom; white-space: nowrap; text-align: center;"><span style="font-weight: bold;">10-Year</span></td> <td style="border-right: 0.75pt solid #7fb8e6; padding-right: 2pt; vertical-align: bottom;"> </td> </tr> <tr style="font-size: 1pt;"> <td style="border-left: 0.75pt solid #7fb8e6; border-top: 0.75pt solid #7fb8e6; padding-left: 8pt; height: 3pt;"> </td> <td colspan="4" style="border-left: 0.75pt solid #7fb8e6; border-top: 0.75pt solid #7fb8e6; border-right: 0.75pt solid #7fb8e6; height: 3pt;"> </td> <td colspan="4" style="border-top: 0.75pt solid #7fb8e6; height: 3pt;"> </td> <td colspan="4" style="border-left: 0.75pt solid #7fb8e6; border-top: 0.75pt solid #7fb8e6; border-right: 0.75pt solid #7fb8e6; height: 3pt;"> </td> </tr> <tr style="page-break-inside: avoid; font-family: arial; font-size: 8pt;"> <td style="padding-bottom: 3pt; border-left: 0.75pt solid #7fb8e6; padding-left: 8pt; vertical-align: top;"> <div style="margin-top: 0pt; margin-bottom: 0pt; margin-left: 1.00em; text-indent: -1.00em; font-size: 8pt; font-family: arial;">Class I Shares at NAV</div> </td> <td style="border-left: 0.75pt solid #7fb8e6; vertical-align: bottom;">    </td> <td style="padding-bottom: 3pt; white-space: nowrap; vertical-align: bottom;"> </td> <td style="padding-bottom: 3pt; white-space: nowrap; vertical-align: bottom; text-align: right;">6.50</td> <td style="padding-bottom: 3pt; border-right: 0.75pt solid #7fb8e6; white-space: nowrap; vertical-align: bottom;">% </td> <td style="vertical-align: bottom;">    </td> <td style="padding-bottom: 3pt; white-space: nowrap; vertical-align: bottom;"> </td> <td style="padding-bottom: 3pt; white-space: nowrap; vertical-align: bottom; text-align: right;">0.67</td> <td style="padding-bottom: 3pt; white-space: nowrap; vertical-align: bottom;">% </td> <td style="border-left: 0.75pt solid #7fb8e6; vertical-align: bottom;">    </td> <td style="padding-bottom: 3pt; white-space: nowrap; vertical-align: bottom;"> </td> <td style="padding-bottom: 3pt; white-space: nowrap; vertical-align: bottom; text-align: right;">1.94</td> <td style="padding-bottom: 3pt; border-right: 0.75pt solid #7fb8e6; padding-right: 2pt; white-space: nowrap; vertical-align: bottom;">% </td> </tr> <tr style="font-size: 1pt;"> <td style="border-left: 0.75pt solid #7fb8e6; border-top: 0.75pt solid #7fb8e6; padding-left: 8pt; height: 3pt;"> </td> <td colspan="4" style="border-left: 0.75pt solid #7fb8e6; border-top: 0.75pt solid #7fb8e6; border-right: 0.75pt solid #7fb8e6; height: 3pt;"> </td> <td colspan="4" style="border-top: 0.75pt solid #7fb8e6; height: 3pt;"> </td> <td colspan="4" style="border-left: 0.75pt solid #7fb8e6; border-top: 0.75pt solid #7fb8e6; border-right: 0.75pt solid #7fb8e6; height: 3pt;"> </td> </tr> <tr style="page-break-inside: avoid; font-family: arial; font-size: 8pt;"> <td style="padding-bottom: 3pt; border-left: 0.75pt solid #7fb8e6; padding-left: 8pt; vertical-align: top;"> <div style="margin-top: 0pt; margin-bottom: 0pt; margin-left: 1.00em; text-indent: -1.00em; font-size: 8pt; font-family: arial;">S&amp;P Municipal Bond Index</div> </td> <td style="border-left: 0.75pt solid #7fb8e6; vertical-align: bottom;">    </td> <td style="padding-bottom: 3pt; white-space: nowrap; vertical-align: bottom;"> </td> <td style="padding-bottom: 3pt; white-space: nowrap; vertical-align: bottom; text-align: right;">6.57</td> <td style="padding-bottom: 3pt; border-right: 0.75pt solid #7fb8e6; white-space: nowrap; vertical-align: bottom;">% </td> <td style="vertical-align: bottom;">    </td> <td style="padding-bottom: 3pt; white-space: nowrap; vertical-align: bottom;"> </td> <td style="padding-bottom: 3pt; white-space: nowrap; vertical-align: bottom; text-align: right;">1.14</td> <td style="padding-bottom: 3pt; white-space: nowrap; vertical-align: bottom;">% </td> <td style="border-left: 0.75pt solid #7fb8e6; vertical-align: bottom;">    </td> <td style="padding-bottom: 3pt; white-space: nowrap; vertical-align: bottom;"> </td> <td style="padding-bottom: 3pt; white-space: nowrap; vertical-align: bottom; text-align: right;">2.30</td> <td style="padding-bottom: 3pt; border-right: 0.75pt solid #7fb8e6; padding-right: 2pt; white-space: nowrap; vertical-align: bottom;">% </td> </tr> <tr style="font-size: 1pt;"> <td style="border-left: 0.75pt solid #7fb8e6; border-top: 0.75pt solid #7fb8e6; padding-left: 8pt; height: 3pt;"> </td> <td colspan="4" style="border-left: 0.75pt solid #7fb8e6; border-top: 0.75pt solid #7fb8e6; border-right: 0.75pt solid #7fb8e6; height: 3pt;"> </td> <td colspan="4" style="border-top: 0.75pt solid #7fb8e6; height: 3pt;"> </td> <td colspan="4" style="border-left: 0.75pt solid #7fb8e6; border-top: 0.75pt solid #7fb8e6; border-right: 0.75pt solid #7fb8e6; height: 3pt;"> </td> </tr> <tr style="page-break-inside: avoid; font-family: arial; font-size: 8pt;"> <td style="padding-bottom: 3pt; border-left: 0.75pt solid #7fb8e6; padding-left: 8pt; vertical-align: top;"> <div style="margin-top: 0pt; margin-bottom: 0pt; margin-left: 1.00em; text-indent: -1.00em; font-size: 8pt; font-family: arial;">S&amp;P Municipal Bond Ohio Index</div> </td> <td style="border-left: 0.75pt solid #7fb8e6; vertical-align: bottom;">    </td> <td style="padding-bottom: 3pt; white-space: nowrap; vertical-align: bottom;"> </td> <td style="padding-bottom: 3pt; white-space: nowrap; vertical-align: bottom; text-align: right;">5.96</td> <td style="padding-bottom: 3pt; border-right: 0.75pt solid #7fb8e6; white-space: nowrap; vertical-align: bottom;">% </td> <td style="vertical-align: bottom;">    </td> <td style="padding-bottom: 3pt; white-space: nowrap; vertical-align: bottom;"> </td> <td style="padding-bottom: 3pt; white-space: nowrap; vertical-align: bottom; text-align: right;">0.90</td> <td style="padding-bottom: 3pt; white-space: nowrap; vertical-align: bottom;">% </td> <td style="border-left: 0.75pt solid #7fb8e6; vertical-align: bottom;">    </td> <td style="padding-bottom: 3pt; white-space: nowrap; vertical-align: bottom;"> </td> <td style="padding-bottom: 3pt; white-space: nowrap; vertical-align: bottom; text-align: right;">2.46</td> <td style="padding-bottom: 3pt; border-right: 0.75pt solid #7fb8e6; padding-right: 2pt; white-space: nowrap; vertical-align: bottom;">% </td> </tr> <tr style="font-size: 1pt;"> <td style="border-left: 0.75pt solid #7fb8e6; border-top: 0.75pt solid #7fb8e6; padding-left: 8pt; height: 3pt;"> </td> <td colspan="4" style="border-left: 0.75pt solid #7fb8e6; border-top: 0.75pt solid #7fb8e6; border-right: 0.75pt solid #7fb8e6; height: 3pt;"> </td> <td colspan="4" style="border-top: 0.75pt solid #7fb8e6; height: 3pt;"> </td> <td colspan="4" style="border-left: 0.75pt solid #7fb8e6; border-top: 0.75pt solid #7fb8e6; border-right: 0.75pt solid #7fb8e6; height: 3pt;"> </td> </tr> <tr style="page-break-inside: avoid; font-family: arial; font-size: 8pt;"> <td style="padding-bottom: 3pt; border-left: 0.75pt solid #7fb8e6; border-bottom: 0.75pt solid #7fb8e6; padding-left: 8pt; vertical-align: top;"> <div style="margin-top: 0pt; margin-bottom: 0pt; margin-left: 1.00em; text-indent: -1.00em; font-size: 8pt; font-family: arial;">Lipper Ohio Municipal Debt Funds Classification Average</div> </td> <td style="border-left: 0.75pt solid #7fb8e6; border-bottom: 0.75pt solid #7fb8e6; vertical-align: bottom;">    </td> <td style="padding-bottom: 3pt; border-bottom: 0.75pt solid #7fb8e6; white-space: nowrap; vertical-align: bottom;"> </td> <td style="padding-bottom: 3pt; border-bottom: 0.75pt solid #7fb8e6; white-space: nowrap; vertical-align: bottom; text-align: right;">6.75</td> <td style="padding-bottom: 3pt; border-right: 0.75pt solid #7fb8e6; border-bottom: 0.75pt solid #7fb8e6; white-space: nowrap; vertical-align: bottom;">% </td> <td style="border-bottom: 0.75pt solid #7fb8e6; vertical-align: bottom;">    </td> <td style="padding-bottom: 3pt; border-bottom: 0.75pt solid #7fb8e6; white-space: nowrap; vertical-align: bottom;"> </td> <td style="padding-bottom: 3pt; border-bottom: 0.75pt solid #7fb8e6; white-space: nowrap; vertical-align: bottom; text-align: right;">0.45</td> <td style="padding-bottom: 3pt; border-bottom: 0.75pt solid #7fb8e6; white-space: nowrap; vertical-align: bottom;">% </td> <td style="border-left: 0.75pt solid #7fb8e6; border-bottom: 0.75pt solid #7fb8e6; vertical-align: bottom;">    </td> <td style="padding-bottom: 3pt; border-bottom: 0.75pt solid #7fb8e6; white-space: nowrap; vertical-align: bottom;"> </td> <td style="padding-bottom: 3pt; border-bottom: 0.75pt solid #7fb8e6; white-space: nowrap; vertical-align: bottom; text-align: right;">1.70</td> <td style="padding-bottom: 3pt; border-right: 0.75pt solid #7fb8e6; border-bottom: 0.75pt solid #7fb8e6; padding-right: 2pt; white-space: nowrap; vertical-align: bottom;">% </td> </tr> </table> Class I Shares at NAV 0.0650 0.0067 0.0194 S&P Municipal Bond Index 0.0657 0.0114 0.0230 S&P Municipal Bond Ohio Index 0.0596 0.0090 0.0246 Lipper Ohio Municipal Debt Funds Classification Average 0.0675 0.0045 0.0170 For most recent month-end performance, go to https://www.nuveen.com/en-us/mutual-funds/prospectuses or call (800) 257‑8787. <div style="margin-top: 0pt; margin-bottom: 0pt; margin-left: 2%; font-size: 11pt; font-family: arial;"><span style="color: #0071ce;"><span style="font-weight: bold;">Fund Statistics (as of May 31, 2026) </span></span></div> <table cellpadding="0" cellspacing="0" style="border-collapse: collapse; font-family: arial; font-size: 8pt; width: 96%; border-spacing: 0px; margin: 0 auto;"> <tr> <td style="width: 87%;"></td> <td style="vertical-align: bottom; width: 2%;"></td> <td></td> <td></td> <td style="vertical-align: bottom; width: 2%;"></td> </tr> <tr style="font-size: 1pt;"> <td style="height: 3pt;"></td> <td colspan="4" style="height: 3pt;"></td> </tr> <tr style="page-break-inside: avoid; font-family: arial; font-size: 8pt;"> <td style="padding-bottom: 3pt; border-bottom: 0.75pt solid #7fb8e6; vertical-align: top;"> <div style="margin-top: 0pt; margin-bottom: 0pt; margin-left: 1.00em; text-indent: -1.00em; font-size: 8pt; font-family: arial;">Fund net assets</div> </td> <td style="border-bottom: 0.75pt solid #7fb8e6; vertical-align: bottom;">  </td> <td style="padding-bottom: 3pt; border-bottom: 0.75pt solid #7fb8e6; white-space: nowrap; vertical-align: bottom;">$</td> <td style="padding-bottom: 3pt; border-bottom: 0.75pt solid #7fb8e6; white-space: nowrap; vertical-align: bottom; text-align: right;">426,973,140</td> <td style="padding-bottom: 3pt; border-bottom: 0.75pt solid #7fb8e6; white-space: nowrap; vertical-align: bottom;"> </td> </tr> <tr style="font-size: 1pt;"> <td style="height: 3pt;"></td> <td colspan="4" style="height: 3pt;"></td> </tr> <tr style="page-break-inside: avoid; font-family: arial; font-size: 8pt;"> <td style="padding-bottom: 3pt; border-bottom: 0.75pt solid #7fb8e6; vertical-align: top;"> <div style="margin-top: 0pt; margin-bottom: 0pt; margin-left: 1.00em; text-indent: -1.00em; font-size: 8pt; font-family: arial;">Total number of portfolio holdings</div> </td> <td style="border-bottom: 0.75pt solid #7fb8e6; vertical-align: bottom;">  </td> <td style="padding-bottom: 3pt; border-bottom: 0.75pt solid #7fb8e6; white-space: nowrap; vertical-align: bottom;"> </td> <td style="padding-bottom: 3pt; border-bottom: 0.75pt solid #7fb8e6; white-space: nowrap; vertical-align: bottom; text-align: right;">196</td> <td style="padding-bottom: 3pt; border-bottom: 0.75pt solid #7fb8e6; white-space: nowrap; vertical-align: bottom;"> </td> </tr> <tr style="font-size: 1pt;"> <td style="height: 3pt;"></td> <td colspan="4" style="height: 3pt;"></td> </tr> <tr style="page-break-inside: avoid; font-family: arial; font-size: 8pt;"> <td style="padding-bottom: 3pt; border-bottom: 0.75pt solid #7fb8e6; vertical-align: top;"> <div style="margin-top: 0pt; margin-bottom: 0pt; margin-left: 1.00em; text-indent: -1.00em; font-size: 8pt; font-family: arial;">Portfolio turnover (%)</div> </td> <td style="border-bottom: 0.75pt solid #7fb8e6; vertical-align: bottom;">  </td> <td style="padding-bottom: 3pt; border-bottom: 0.75pt solid #7fb8e6; white-space: nowrap; vertical-align: bottom;"> </td> <td style="padding-bottom: 3pt; border-bottom: 0.75pt solid #7fb8e6; white-space: nowrap; vertical-align: bottom; text-align: right;">19%</td> <td style="padding-bottom: 3pt; border-bottom: 0.75pt solid #7fb8e6; white-space: nowrap; vertical-align: bottom;"> </td> </tr> <tr style="font-size: 1pt;"> <td style="height: 3pt;"></td> <td colspan="4" style="height: 3pt;"></td> </tr> <tr style="page-break-inside: avoid; font-family: arial; font-size: 8pt;"> <td style="padding-bottom: 3pt; border-bottom: 0.75pt solid #7fb8e6; vertical-align: top;"> <div style="margin-top: 0pt; margin-bottom: 0pt; margin-left: 1.00em; text-indent: -1.00em; font-size: 8pt; font-family: arial;">Total management fees paid for the year</div> </td> <td style="border-bottom: 0.75pt solid #7fb8e6; vertical-align: bottom;">  </td> <td style="padding-bottom: 3pt; border-bottom: 0.75pt solid #7fb8e6; white-space: nowrap; vertical-align: bottom;">$</td> <td style="padding-bottom: 3pt; border-bottom: 0.75pt solid #7fb8e6; white-space: nowrap; vertical-align: bottom; text-align: right;">2,181,795</td> <td style="padding-bottom: 3pt; border-bottom: 0.75pt solid #7fb8e6; white-space: nowrap; vertical-align: bottom;"> </td> </tr> </table> 426973140 196 0.19 2181795 <table cellpadding="0" cellspacing="0" style="border-collapse: collapse; font-family: arial; font-size: 9pt; width: 100%; border-spacing: 0px; margin: 0 auto;"> <tr> <td style="width: 50%;"></td> <td style="vertical-align: bottom; width: 1%;"></td> <td style="width: 49%;"></td> </tr> <tr style="page-break-inside: avoid; font-family: arial; font-size: 9pt;"> <td style="vertical-align: top;"> <div style="margin: 0pt 1.11em 0pt 1.11em;"> <img alt="LOGO" src="g133061g58m66.jpg"/> </div> </td> <td style="vertical-align: bottom;"> </td> <td style="vertical-align: top;"> <div style="margin: 0pt 1.11em 0pt 1.11em;"> <img alt="LOGO" src="g133061g49d24.jpg"/> </div> </td> </tr> </table> <table cellpadding="0" cellspacing="0" style="border-collapse: collapse; font-family: arial; font-size: 8pt; border-spacing: 0px; width: 100%;"> <tr style="page-break-inside: avoid;"> <td style="width: 1%;"> </td> <td style="width: 4%; vertical-align: top; text-align: left;">(1)</td> <td style="vertical-align: top; text-align: left;"> <div style="margin-top: 0pt; margin-bottom: 0pt; font-size: 8pt; font-family: arial; text-align: left;">The ratings disclosed are the highest rating given by one of the following national rating agencies: Standard &amp; Poor’s (S&amp;P), Moody’s Investors Service, Inc. (Moody’s) or Fitch, Inc (Fitch). This treatment of split-rated securities may differ from that used for other purposes, such as for Fund investment policies. Credit ratings are subject to change. AAA, AA, A, and BBB are investment grade ratings; BB, B, CCC, CC, C and D are below-investment grade ratings. Holdings designated N/R are not rated by these national ratings agencies.</div> </td> </tr> </table> The ratings disclosed are the highest rating given by one of the following national rating agencies: Standard &amp; Poor’s (S&amp;P), Moody’s Investors Service, Inc. (Moody’s) or Fitch, Inc (Fitch). This treatment of split-rated securities may differ from that used for other purposes, such as for Fund investment policies. Credit ratings are subject to change. AAA, AA, A, and BBB are investment grade ratings; BB, B, CCC, CC, C and D are below-investment grade ratings. Holdings designated N/R are not rated by these national ratings agencies. <div style="margin-top: 0pt; margin-bottom: 0pt; margin-left: 2%; font-size: 11pt; font-family: arial;"><span style="color: #0071ce;"><span style="font-weight: bold;">How has the Fund changed? </span></span></div> <div style="margin-top: 6pt; margin-bottom: 0pt; margin-left: 2%; font-size: 9pt; font-family: arial; font-weight: bold;">For more complete information, you may review the Fund’s next prospectus, which is expected to be available by September 30, 2026 at https://www.nuveen.com/en-us/mutual-funds/prospectuses or upon request at (800) 257-8787.</div> <div style="margin-top: 6pt; margin-bottom: 0pt; margin-left: 2%; font-size: 9pt; font-family: arial; font-weight: bold;">For more complete information, you may review the Fund’s next prospectus, which is expected to be available by September 30, 2026 at https://www.nuveen.com/en-us/mutual-funds/prospectuses or upon request at (800) 257-8787.</div> https://www.nuveen.com/en-us/mutual-funds/prospectuses (800) 257-8787 Nuveen Wisconsin Municipal Bond Fund Class A Shares FWIAX This annual shareholder report contains important information about the Class A Shares of the Nuveen Wisconsin Municipal Bond Fund for the period of June 1, 2025 to May 31, 2026. annual shareholder report You can find additional information at https://www.nuveen.com/en-us/mutual-funds/prospectuses. You can also request this information by contacting us at (800) 257-8787. https://www.nuveen.com/en-us/mutual-funds/prospectuses (800) 257-8787 <div style="font-size: 9pt; font-family: arial; font-weight: bold; margin: 18pt 2% 0pt 2%;">This report describes changes to the Fund that occurred during the reporting period.</div> <div style="margin-top: 0pt; margin-bottom: 0pt; margin-left: 2%; font-size: 11pt; font-family: arial;"><span style="color: #0071ce;"><span style="font-weight: bold;">What were the Fund costs for the last year? </span></span><span style="font-family: arial;">(based on a hypothetical $10,000 investment)</span><span style="font-family: arial; color: #0071ce;"><span style="font-weight: bold;"> </span></span></div> <table cellpadding="0" cellspacing="0" style="border-collapse: collapse; font-family: arial; font-size: 8pt; width: 96%; border-spacing: 0px; margin: 0 auto;"> <tr> <td style="width: 33%;"></td> <td style="vertical-align: bottom;"></td> <td style="width: 33%;"></td> <td style="vertical-align: bottom;"></td> <td style="width: 32%;"></td> </tr> <tr style="font-size: 1pt;"> <td style="height: 3pt;"></td> <td colspan="2" style="border-left: 0.75pt solid #7fb8e6; border-top: 0.75pt solid #7fb8e6; height: 3pt;"> </td> <td colspan="2" style="border-left: 0.75pt solid #7fb8e6; border-top: 0.75pt solid #7fb8e6; border-right: 0.75pt solid #7fb8e6; height: 3pt;"> </td> </tr> <tr style="page-break-inside: avoid; font-family: arial; font-size: 8pt;"> <td style="vertical-align: bottom;"> </td> <td style="border-left: 0.75pt solid #7fb8e6; vertical-align: bottom;"> </td> <td style="padding-bottom: 3pt; vertical-align: middle; text-align: right;"><span style="font-weight: bold;">Cost of a $10,000 investment </span></td> <td style="border-left: 0.75pt solid #7fb8e6; vertical-align: bottom;"> </td> <td style="padding-bottom: 3pt; border-right: 0.75pt solid #7fb8e6; padding-right: 2pt; vertical-align: bottom; text-align: right;"><span style="font-weight: bold;">Costs paid as a percentage of<br/>$10,000 investment*</span></td> </tr> <tr style="font-size: 1pt;"> <td style="border-left: 0.75pt solid #7fb8e6; border-top: 0.75pt solid #7fb8e6; padding-left: 8pt; height: 3pt;"> </td> <td colspan="2" style="border-left: 0.75pt solid #7fb8e6; border-top: 0.75pt solid #7fb8e6; height: 3pt;"> </td> <td colspan="2" style="border-left: 0.75pt solid #7fb8e6; border-top: 0.75pt solid #7fb8e6; border-right: 0.75pt solid #7fb8e6; height: 3pt;"> </td> </tr> <tr style="page-break-inside: avoid; font-family: arial; font-size: 8pt;"> <td style="padding-bottom: 3pt; border-left: 0.75pt solid #7fb8e6; border-bottom: 0.75pt solid #7fb8e6; padding-left: 8pt; vertical-align: top;"> <div style="margin-top: 0pt; margin-bottom: 0pt; margin-left: 1.00em; text-indent: -1.00em; font-size: 8pt; font-family: arial;">Class A Shares</div> </td> <td style="border-left: 0.75pt solid #7fb8e6; border-bottom: 0.75pt solid #7fb8e6; vertical-align: bottom;"> </td> <td style="padding-bottom: 3pt; border-bottom: 0.75pt solid #7fb8e6; vertical-align: bottom; white-space: nowrap; text-align: right;">$114 </td> <td style="border-left: 0.75pt solid #7fb8e6; border-bottom: 0.75pt solid #7fb8e6; vertical-align: bottom;"> </td> <td style="padding-bottom: 3pt; border-right: 0.75pt solid #7fb8e6; border-bottom: 0.75pt solid #7fb8e6; padding-right: 2pt; vertical-align: bottom; white-space: nowrap; text-align: right;">1.10%</td> </tr> </table> <table cellpadding="0" cellspacing="0" style="border-collapse: collapse; font-family: arial; font-size: 8pt; border-spacing: 0px; width: 100%;"> <tr style="page-break-inside: avoid;"> <td style="width: 3%;"> </td> <td style="width: 1%; vertical-align: top; text-align: right;">*</td> <td style="width: 1%; vertical-align: top;"> </td> <td style="vertical-align: top; text-align: left;"> <div style="margin-top: 0pt; margin-bottom: 0pt; font-family: arial; font-size: 8pt; text-align: justify;">Annualized for period less than one year.</div> </td> <td style="width: 2%;"> </td> </tr> </table> 114 0.0110 <div style="margin-top: 0pt; margin-bottom: 0pt; margin-left: 2%; font-size: 11pt; font-family: arial;"><span style="color: #0071ce;"><span style="font-weight: bold;">How did the Fund perform last year? What affected the Fund’s performance? </span></span></div> <table cellpadding="0" cellspacing="0" style="border-collapse: collapse; font-family: arial; font-size: 9pt; width: 96%; border-spacing: 0px; margin: 0 auto;"> <tr> <td style="width: 100%;"></td> </tr> <tr style="page-break-inside: avoid; font-family: arial; font-size: 9pt;"> <td style="vertical-align: top;"> <div style="margin-top: 0pt; margin-bottom: 0pt; font-size: 9pt; font-family: arial; font-weight: bold;">Performance Highlights</div> <div style="font-size: 6pt; margin-top: 0pt; margin-bottom: 0pt;"> </div> <div style="margin-top: 0pt; margin-bottom: 0pt; margin-right: 1.11em; font-size: 9pt; font-family: arial;">The Nuveen Wisconsin Municipal Bond Fund returned 7.98% for Class A Shares at net asset value (NAV) for the 12 months ended May 31, 2026. The Fund outperformed the S&amp;P Municipal Bond Wisconsin Index, which returned 6.74%.</div> <div style="font-size: 6pt; margin-top: 0pt; margin-bottom: 0pt;"> </div> <div style="margin-top: 0pt; margin-bottom: 0pt; margin-right: 1.11em; font-size: 9pt; font-family: arial;">Top contributors to relative performance</div> <div style="font-size: 6pt; margin-top: 0pt; margin-bottom: 0pt;"> </div> <div style="margin-top: 0pt; margin-bottom: 0pt; margin-right: 1.67em; display: table-row;"> <div style="display: table-cell;"> <div style="margin-top: 0pt; margin-bottom: 0pt; margin-left: 2.222222em; font-family: arial;">•</div> </div> <div style="display: table-cell;"> <div style="margin-top: 0pt; margin-bottom: 0pt; margin-left: 0.538889em; font-family: arial;">Duration positioning, especially an overweight to longer-duration bonds.</div> </div> </div> <div style="font-size: 6pt; margin-top: 0pt; margin-bottom: 0pt;"> </div> <div style="margin-top: 0pt; margin-bottom: 0pt; margin-right: 1.67em; display: table-row;"> <div style="display: table-cell;"> <div style="margin-top: 0pt; margin-bottom: 0pt; margin-left: 2.222222em; font-family: arial;">•</div> </div> <div style="display: table-cell;"> <div style="margin-top: 0pt; margin-bottom: 0pt; margin-left: 0.538889em; font-family: arial;">Credit-quality positioning, especially an overweight to BBB-rated bonds.</div> </div> </div> <div style="font-size: 6pt; margin-top: 0pt; margin-bottom: 0pt;"> </div> <div style="margin-top: 0pt; margin-bottom: 0pt; margin-right: 1.67em; display: table-row;"> <div style="display: table-cell;"> <div style="margin-top: 0pt; margin-bottom: 0pt; margin-left: 2.222222em; font-family: arial;">•</div> </div> <div style="display: table-cell;"> <div style="margin-top: 0pt; margin-bottom: 0pt; margin-left: 0.538889em; font-family: arial;">Sector positioning, especially an overweight to appropriation, health care and housing bonds and an underweight to state general obligation bonds.</div> </div> </div> <div style="font-size: 6pt; margin-top: 0pt; margin-bottom: 0pt;"> </div> <div style="margin-top: 0pt; margin-bottom: 0pt; margin-right: 1.67em; display: table-row;"> <div style="display: table-cell;"> <div style="margin-top: 0pt; margin-bottom: 0pt; margin-left: 2.222222em; font-family: arial;">•</div> </div> <div style="display: table-cell;"> <div style="margin-top: 0pt; margin-bottom: 0pt; margin-left: 0.538889em; font-family: arial;">Security selection, especially among non-rated and out-of-state bonds.</div> </div> </div> <div style="font-size: 6pt; margin-top: 0pt; margin-bottom: 0pt;"> </div> <div style="margin-top: 0pt; margin-bottom: 0pt; margin-right: 1.11em; font-size: 9pt; font-family: arial;">Top detractors from relative performance</div> <div style="font-size: 6pt; margin-top: 0pt; margin-bottom: 0pt;"> </div> <div style="margin-top: 0pt; margin-bottom: 0pt; margin-right: 1.67em; display: table-row;"> <div style="display: table-cell;"> <div style="margin-top: 0pt; margin-bottom: 0pt; margin-left: 2.222222em; font-family: arial;">•</div> </div> <div style="display: table-cell;"> <div style="margin-top: 0pt; margin-bottom: 0pt; margin-left: 0.538889em; font-family: arial;">Overweights to dedicated-tax and utility bonds.</div> </div> </div> </td> </tr> </table> Performance data shown represents past performance and does not predict or guarantee future results. The<span style="font-weight: bold;"> </span>graph and table do not reflect the deduction of taxes that a shareholder would pay on Fund distributions or redemption of Fund Shares. <div style="margin: 0pt 2% 0pt 2%;"> <img alt="LOGO" src="g133061g00v01.jpg"/> </div> <div style="font-size: 9pt; font-family: arial; font-weight: bold; margin: 0pt 2% 0pt 2%;">Average Annual Total Returns</div> <table cellpadding="0" cellspacing="0" style="border-collapse: collapse; font-family: arial; font-size: 8pt; width: 96%; border-spacing: 0px; margin: 0 auto;"> <tr> <td style="width: 64%;"></td> <td style="vertical-align: bottom; width: 6%;"></td> <td></td> <td></td> <td style="vertical-align: bottom; width: 3%;"></td> <td style="vertical-align: bottom; width: 6%;"></td> <td></td> <td></td> <td style="vertical-align: bottom; width: 3%;"></td> <td style="vertical-align: bottom; width: 6%;"></td> <td></td> <td></td> <td style="vertical-align: bottom; width: 3%;"></td> </tr> <tr style="font-size: 1pt;"> <td style="height: 3pt;"></td> <td colspan="4" style="border-left: 0.75pt solid #7fb8e6; border-top: 0.75pt solid #7fb8e6; border-right: 0.75pt solid #7fb8e6; height: 3pt;"> </td> <td colspan="4" style="border-top: 0.75pt solid #7fb8e6; height: 3pt;"> </td> <td colspan="4" style="border-left: 0.75pt solid #7fb8e6; border-top: 0.75pt solid #7fb8e6; border-right: 0.75pt solid #7fb8e6; height: 3pt;"> </td> </tr> <tr style="page-break-inside: avoid; font-family: arial; font-size: 8pt;"> <td style="vertical-align: top;"> </td> <td style="border-left: 0.75pt solid #7fb8e6; vertical-align: bottom;">    </td> <td colspan="2" style="padding-bottom: 3pt; vertical-align: bottom; white-space: nowrap; text-align: center;"><span style="font-weight: bold;">1-Year</span></td> <td style="border-right: 0.75pt solid #7fb8e6; vertical-align: bottom;"> </td> <td style="vertical-align: bottom;">    </td> <td colspan="2" style="padding-bottom: 3pt; vertical-align: bottom; white-space: nowrap; text-align: center;"><span style="font-weight: bold;">5-Year</span></td> <td style="vertical-align: bottom;"> </td> <td style="border-left: 0.75pt solid #7fb8e6; vertical-align: bottom;">    </td> <td colspan="2" style="padding-bottom: 3pt; vertical-align: bottom; white-space: nowrap; text-align: center;"><span style="font-weight: bold;">10-Year</span></td> <td style="border-right: 0.75pt solid #7fb8e6; padding-right: 2pt; vertical-align: bottom;"> </td> </tr> <tr style="font-size: 1pt;"> <td style="border-left: 0.75pt solid #7fb8e6; border-top: 0.75pt solid #7fb8e6; padding-left: 8pt; height: 3pt;"> </td> <td colspan="4" style="border-left: 0.75pt solid #7fb8e6; border-top: 0.75pt solid #7fb8e6; border-right: 0.75pt solid #7fb8e6; height: 3pt;"> </td> <td colspan="4" style="border-top: 0.75pt solid #7fb8e6; height: 3pt;"> </td> <td colspan="4" style="border-left: 0.75pt solid #7fb8e6; border-top: 0.75pt solid #7fb8e6; border-right: 0.75pt solid #7fb8e6; height: 3pt;"> </td> </tr> <tr style="page-break-inside: avoid; font-family: arial; font-size: 8pt;"> <td style="padding-bottom: 3pt; border-left: 0.75pt solid #7fb8e6; padding-left: 8pt; vertical-align: top;"> <div style="margin-top: 0pt; margin-bottom: 0pt; margin-left: 1.00em; text-indent: -1.00em; font-size: 8pt; font-family: arial;">Class A Shares at NAV (excluding maximum sales charge)</div> </td> <td style="border-left: 0.75pt solid #7fb8e6; vertical-align: bottom;">    </td> <td style="padding-bottom: 3pt; white-space: nowrap; vertical-align: bottom;"> </td> <td style="padding-bottom: 3pt; white-space: nowrap; vertical-align: bottom; text-align: right;">7.98</td> <td style="padding-bottom: 3pt; border-right: 0.75pt solid #7fb8e6; white-space: nowrap; vertical-align: bottom;">% </td> <td style="vertical-align: bottom;">    </td> <td style="padding-bottom: 3pt; white-space: nowrap; vertical-align: bottom;"> </td> <td style="padding-bottom: 3pt; white-space: nowrap; vertical-align: bottom; text-align: right;">0.98</td> <td style="padding-bottom: 3pt; white-space: nowrap; vertical-align: bottom;">% </td> <td style="border-left: 0.75pt solid #7fb8e6; vertical-align: bottom;">    </td> <td style="padding-bottom: 3pt; white-space: nowrap; vertical-align: bottom;"> </td> <td style="padding-bottom: 3pt; white-space: nowrap; vertical-align: bottom; text-align: right;">2.08</td> <td style="padding-bottom: 3pt; border-right: 0.75pt solid #7fb8e6; padding-right: 2pt; white-space: nowrap; vertical-align: bottom;">% </td> </tr> <tr style="font-size: 1pt;"> <td style="border-left: 0.75pt solid #7fb8e6; border-top: 0.75pt solid #7fb8e6; padding-left: 8pt; height: 3pt;"> </td> <td colspan="4" style="border-left: 0.75pt solid #7fb8e6; border-top: 0.75pt solid #7fb8e6; border-right: 0.75pt solid #7fb8e6; height: 3pt;"> </td> <td colspan="4" style="border-top: 0.75pt solid #7fb8e6; height: 3pt;"> </td> <td colspan="4" style="border-left: 0.75pt solid #7fb8e6; border-top: 0.75pt solid #7fb8e6; border-right: 0.75pt solid #7fb8e6; height: 3pt;"> </td> </tr> <tr style="page-break-inside: avoid; font-family: arial; font-size: 8pt;"> <td style="padding-bottom: 3pt; border-left: 0.75pt solid #7fb8e6; padding-left: 8pt; vertical-align: top;"> <div style="margin-top: 0pt; margin-bottom: 0pt; margin-left: 1.00em; text-indent: -1.00em; font-size: 8pt; font-family: arial;">Class A Shares at maximum sales charge (Offering Price)</div> </td> <td style="border-left: 0.75pt solid #7fb8e6; vertical-align: bottom;">    </td> <td style="padding-bottom: 3pt; white-space: nowrap; vertical-align: bottom;"> </td> <td style="padding-bottom: 3pt; white-space: nowrap; vertical-align: bottom; text-align: right;">3.49</td> <td style="padding-bottom: 3pt; border-right: 0.75pt solid #7fb8e6; white-space: nowrap; vertical-align: bottom;">% </td> <td style="vertical-align: bottom;">    </td> <td style="padding-bottom: 3pt; white-space: nowrap; vertical-align: bottom;"> </td> <td style="padding-bottom: 3pt; white-space: nowrap; vertical-align: bottom; text-align: right;">0.11</td> <td style="padding-bottom: 3pt; white-space: nowrap; vertical-align: bottom;">% </td> <td style="border-left: 0.75pt solid #7fb8e6; vertical-align: bottom;">    </td> <td style="padding-bottom: 3pt; white-space: nowrap; vertical-align: bottom;"> </td> <td style="padding-bottom: 3pt; white-space: nowrap; vertical-align: bottom; text-align: right;">1.65</td> <td style="padding-bottom: 3pt; border-right: 0.75pt solid #7fb8e6; padding-right: 2pt; white-space: nowrap; vertical-align: bottom;">% </td> </tr> <tr style="font-size: 1pt;"> <td style="border-left: 0.75pt solid #7fb8e6; border-top: 0.75pt solid #7fb8e6; padding-left: 8pt; height: 3pt;"> </td> <td colspan="4" style="border-left: 0.75pt solid #7fb8e6; border-top: 0.75pt solid #7fb8e6; border-right: 0.75pt solid #7fb8e6; height: 3pt;"> </td> <td colspan="4" style="border-top: 0.75pt solid #7fb8e6; height: 3pt;"> </td> <td colspan="4" style="border-left: 0.75pt solid #7fb8e6; border-top: 0.75pt solid #7fb8e6; border-right: 0.75pt solid #7fb8e6; height: 3pt;"> </td> </tr> <tr style="page-break-inside: avoid; font-family: arial; font-size: 8pt;"> <td style="padding-bottom: 3pt; border-left: 0.75pt solid #7fb8e6; padding-left: 8pt; vertical-align: top;"> <div style="margin-top: 0pt; margin-bottom: 0pt; margin-left: 1.00em; text-indent: -1.00em; font-size: 8pt; font-family: arial;">S&amp;P Municipal Bond Index</div> </td> <td style="border-left: 0.75pt solid #7fb8e6; vertical-align: bottom;">    </td> <td style="padding-bottom: 3pt; white-space: nowrap; vertical-align: bottom;"> </td> <td style="padding-bottom: 3pt; white-space: nowrap; vertical-align: bottom; text-align: right;">6.57</td> <td style="padding-bottom: 3pt; border-right: 0.75pt solid #7fb8e6; white-space: nowrap; vertical-align: bottom;">% </td> <td style="vertical-align: bottom;">    </td> <td style="padding-bottom: 3pt; white-space: nowrap; vertical-align: bottom;"> </td> <td style="padding-bottom: 3pt; white-space: nowrap; vertical-align: bottom; text-align: right;">1.14</td> <td style="padding-bottom: 3pt; white-space: nowrap; vertical-align: bottom;">% </td> <td style="border-left: 0.75pt solid #7fb8e6; vertical-align: bottom;">    </td> <td style="padding-bottom: 3pt; white-space: nowrap; vertical-align: bottom;"> </td> <td style="padding-bottom: 3pt; white-space: nowrap; vertical-align: bottom; text-align: right;">2.30</td> <td style="padding-bottom: 3pt; border-right: 0.75pt solid #7fb8e6; padding-right: 2pt; white-space: nowrap; vertical-align: bottom;">% </td> </tr> <tr style="font-size: 1pt;"> <td style="border-left: 0.75pt solid #7fb8e6; border-top: 0.75pt solid #7fb8e6; padding-left: 8pt; height: 3pt;"> </td> <td colspan="4" style="border-left: 0.75pt solid #7fb8e6; border-top: 0.75pt solid #7fb8e6; border-right: 0.75pt solid #7fb8e6; height: 3pt;"> </td> <td colspan="4" style="border-top: 0.75pt solid #7fb8e6; height: 3pt;"> </td> <td colspan="4" style="border-left: 0.75pt solid #7fb8e6; border-top: 0.75pt solid #7fb8e6; border-right: 0.75pt solid #7fb8e6; height: 3pt;"> </td> </tr> <tr style="page-break-inside: avoid; font-family: arial; font-size: 8pt;"> <td style="padding-bottom: 3pt; border-left: 0.75pt solid #7fb8e6; padding-left: 8pt; vertical-align: top;"> <div style="margin-top: 0pt; margin-bottom: 0pt; margin-left: 1.00em; text-indent: -1.00em; font-size: 8pt; font-family: arial;">S&amp;P Municipal Bond Wisconsin Index</div> </td> <td style="border-left: 0.75pt solid #7fb8e6; vertical-align: bottom;">    </td> <td style="padding-bottom: 3pt; white-space: nowrap; vertical-align: bottom;"> </td> <td style="padding-bottom: 3pt; white-space: nowrap; vertical-align: bottom; text-align: right;">6.74</td> <td style="padding-bottom: 3pt; border-right: 0.75pt solid #7fb8e6; white-space: nowrap; vertical-align: bottom;">% </td> <td style="vertical-align: bottom;">    </td> <td style="padding-bottom: 3pt; white-space: nowrap; vertical-align: bottom;"> </td> <td style="padding-bottom: 3pt; white-space: nowrap; vertical-align: bottom; text-align: right;">1.45</td> <td style="padding-bottom: 3pt; white-space: nowrap; vertical-align: bottom;">% </td> <td style="border-left: 0.75pt solid #7fb8e6; vertical-align: bottom;">    </td> <td style="padding-bottom: 3pt; white-space: nowrap; vertical-align: bottom;"> </td> <td style="padding-bottom: 3pt; white-space: nowrap; vertical-align: bottom; text-align: right;">2.42</td> <td style="padding-bottom: 3pt; border-right: 0.75pt solid #7fb8e6; padding-right: 2pt; white-space: nowrap; vertical-align: bottom;">% </td> </tr> <tr style="font-size: 1pt;"> <td style="border-left: 0.75pt solid #7fb8e6; border-top: 0.75pt solid #7fb8e6; padding-left: 8pt; height: 3pt;"> </td> <td colspan="4" style="border-left: 0.75pt solid #7fb8e6; border-top: 0.75pt solid #7fb8e6; border-right: 0.75pt solid #7fb8e6; height: 3pt;"> </td> <td colspan="4" style="border-top: 0.75pt solid #7fb8e6; height: 3pt;"> </td> <td colspan="4" style="border-left: 0.75pt solid #7fb8e6; border-top: 0.75pt solid #7fb8e6; border-right: 0.75pt solid #7fb8e6; height: 3pt;"> </td> </tr> <tr style="page-break-inside: avoid; font-family: arial; font-size: 8pt;"> <td style="padding-bottom: 3pt; border-left: 0.75pt solid #7fb8e6; border-bottom: 0.75pt solid #7fb8e6; padding-left: 8pt; vertical-align: top;"> <div style="margin-top: 0pt; margin-bottom: 0pt; margin-left: 1.00em; text-indent: -1.00em; font-size: 8pt; font-family: arial;">Lipper Other States Municipal Debt Funds Classification Average</div> </td> <td style="border-left: 0.75pt solid #7fb8e6; border-bottom: 0.75pt solid #7fb8e6; vertical-align: bottom;">    </td> <td style="padding-bottom: 3pt; border-bottom: 0.75pt solid #7fb8e6; white-space: nowrap; vertical-align: bottom;"> </td> <td style="padding-bottom: 3pt; border-bottom: 0.75pt solid #7fb8e6; white-space: nowrap; vertical-align: bottom; text-align: right;">7.08</td> <td style="padding-bottom: 3pt; border-right: 0.75pt solid #7fb8e6; border-bottom: 0.75pt solid #7fb8e6; white-space: nowrap; vertical-align: bottom;">% </td> <td style="border-bottom: 0.75pt solid #7fb8e6; vertical-align: bottom;">    </td> <td style="padding-bottom: 3pt; border-bottom: 0.75pt solid #7fb8e6; white-space: nowrap; vertical-align: bottom;"> </td> <td style="padding-bottom: 3pt; border-bottom: 0.75pt solid #7fb8e6; white-space: nowrap; vertical-align: bottom; text-align: right;">0.43</td> <td style="padding-bottom: 3pt; border-bottom: 0.75pt solid #7fb8e6; white-space: nowrap; vertical-align: bottom;">% </td> <td style="border-left: 0.75pt solid #7fb8e6; border-bottom: 0.75pt solid #7fb8e6; vertical-align: bottom;">    </td> <td style="padding-bottom: 3pt; border-bottom: 0.75pt solid #7fb8e6; white-space: nowrap; vertical-align: bottom;"> </td> <td style="padding-bottom: 3pt; border-bottom: 0.75pt solid #7fb8e6; white-space: nowrap; vertical-align: bottom; text-align: right;">1.54</td> <td style="padding-bottom: 3pt; border-right: 0.75pt solid #7fb8e6; border-bottom: 0.75pt solid #7fb8e6; padding-right: 2pt; white-space: nowrap; vertical-align: bottom;">% </td> </tr> </table> Class A Shares at NAV (excluding maximum sales charge) 0.0798 0.0098 0.0208 Class A Shares at maximum sales charge (Offering Price) 0.0349 0.0011 0.0165 S&P Municipal Bond Index 0.0657 0.0114 0.0230 S&P Municipal Bond Wisconsin Index 0.0674 0.0145 0.0242 Lipper Other States Municipal Debt Funds Classification Average 0.0708 0.0043 0.0154 For most recent month-end performance, go to https://www.nuveen.com/en-us/mutual-funds/prospectuses or call (800) 257‑8787. <div style="margin-top: 0pt; margin-bottom: 0pt; margin-left: 2%; font-size: 11pt; font-family: arial;"><span style="color: #0071ce;"><span style="font-weight: bold;">Fund Statistics (as of May 31, 2026) </span></span></div> <table cellpadding="0" cellspacing="0" style="border-collapse: collapse; font-family: arial; font-size: 8pt; width: 96%; border-spacing: 0px; margin: 0 auto;"> <tr> <td style="width: 87%;"></td> <td style="vertical-align: bottom; width: 2%;"></td> <td></td> <td></td> <td style="vertical-align: bottom; width: 2%;"></td> </tr> <tr style="font-size: 1pt;"> <td style="height: 3pt;"></td> <td colspan="4" style="height: 3pt;"></td> </tr> <tr style="page-break-inside: avoid; font-family: arial; font-size: 8pt;"> <td style="padding-bottom: 3pt; border-bottom: 0.75pt solid #7fb8e6; vertical-align: top;"> <div style="margin-top: 0pt; margin-bottom: 0pt; margin-left: 1.00em; text-indent: -1.00em; font-size: 8pt; font-family: arial;">Fund net assets</div> </td> <td style="border-bottom: 0.75pt solid #7fb8e6; vertical-align: bottom;">  </td> <td style="padding-bottom: 3pt; border-bottom: 0.75pt solid #7fb8e6; white-space: nowrap; vertical-align: bottom;">$</td> <td style="padding-bottom: 3pt; border-bottom: 0.75pt solid #7fb8e6; white-space: nowrap; vertical-align: bottom; text-align: right;">102,921,015</td> <td style="padding-bottom: 3pt; border-bottom: 0.75pt solid #7fb8e6; white-space: nowrap; vertical-align: bottom;"> </td> </tr> <tr style="font-size: 1pt;"> <td style="height: 3pt;"></td> <td colspan="4" style="height: 3pt;"></td> </tr> <tr style="page-break-inside: avoid; font-family: arial; font-size: 8pt;"> <td style="padding-bottom: 3pt; border-bottom: 0.75pt solid #7fb8e6; vertical-align: top;"> <div style="margin-top: 0pt; margin-bottom: 0pt; margin-left: 1.00em; text-indent: -1.00em; font-size: 8pt; font-family: arial;">Total number of portfolio holdings</div> </td> <td style="border-bottom: 0.75pt solid #7fb8e6; vertical-align: bottom;">  </td> <td style="padding-bottom: 3pt; border-bottom: 0.75pt solid #7fb8e6; white-space: nowrap; vertical-align: bottom;"> </td> <td style="padding-bottom: 3pt; border-bottom: 0.75pt solid #7fb8e6; white-space: nowrap; vertical-align: bottom; text-align: right;">91</td> <td style="padding-bottom: 3pt; border-bottom: 0.75pt solid #7fb8e6; white-space: nowrap; vertical-align: bottom;"> </td> </tr> <tr style="font-size: 1pt;"> <td style="height: 3pt;"></td> <td colspan="4" style="height: 3pt;"></td> </tr> <tr style="page-break-inside: avoid; font-family: arial; font-size: 8pt;"> <td style="padding-bottom: 3pt; border-bottom: 0.75pt solid #7fb8e6; vertical-align: top;"> <div style="margin-top: 0pt; margin-bottom: 0pt; margin-left: 1.00em; text-indent: -1.00em; font-size: 8pt; font-family: arial;">Portfolio turnover (%)</div> </td> <td style="border-bottom: 0.75pt solid #7fb8e6; vertical-align: bottom;">  </td> <td style="padding-bottom: 3pt; border-bottom: 0.75pt solid #7fb8e6; white-space: nowrap; vertical-align: bottom;"> </td> <td style="padding-bottom: 3pt; border-bottom: 0.75pt solid #7fb8e6; white-space: nowrap; vertical-align: bottom; text-align: right;">8%</td> <td style="padding-bottom: 3pt; border-bottom: 0.75pt solid #7fb8e6; white-space: nowrap; vertical-align: bottom;"> </td> </tr> <tr style="font-size: 1pt;"> <td style="height: 3pt;"></td> <td colspan="4" style="height: 3pt;"></td> </tr> <tr style="page-break-inside: avoid; font-family: arial; font-size: 8pt;"> <td style="padding-bottom: 3pt; border-bottom: 0.75pt solid #7fb8e6; vertical-align: top;"> <div style="margin-top: 0pt; margin-bottom: 0pt; margin-left: 1.00em; text-indent: -1.00em; font-size: 8pt; font-family: arial;">Total management fees paid for the year</div> </td> <td style="border-bottom: 0.75pt solid #7fb8e6; vertical-align: bottom;">  </td> <td style="padding-bottom: 3pt; border-bottom: 0.75pt solid #7fb8e6; white-space: nowrap; vertical-align: bottom;">$</td> <td style="padding-bottom: 3pt; border-bottom: 0.75pt solid #7fb8e6; white-space: nowrap; vertical-align: bottom; text-align: right;">413,794</td> <td style="padding-bottom: 3pt; border-bottom: 0.75pt solid #7fb8e6; white-space: nowrap; vertical-align: bottom;"> </td> </tr> </table> 102921015 91 0.08 413794 <table cellpadding="0" cellspacing="0" style="border-collapse: collapse; font-family: arial; font-size: 9pt; width: 100%; border-spacing: 0px; margin: 0 auto;"> <tr> <td style="width: 50%;"></td> <td style="vertical-align: bottom; width: 1%;"></td> <td style="width: 49%;"></td> </tr> <tr style="page-break-inside: avoid; font-family: arial; font-size: 9pt;"> <td style="vertical-align: top;"> <div style="margin: 0pt 1.11em 0pt 1.11em;"> <img alt="LOGO" src="g133061g81e02.jpg"/> </div> </td> <td style="vertical-align: bottom;"> </td> <td style="vertical-align: top;"> <div style="margin: 0pt 1.11em 0pt 1.11em;"> <img alt="LOGO" src="g133061g50o00.jpg"/> </div> </td> </tr> </table> <table cellpadding="0" cellspacing="0" style="border-collapse: collapse; font-family: arial; font-size: 8pt; border-spacing: 0px; width: 100%;"> <tr style="page-break-inside: avoid;"> <td style="width: 1%;"> </td> <td style="width: 4%; vertical-align: top; text-align: left;">(1)</td> <td style="vertical-align: top; text-align: left;"> <div style="margin-top: 0pt; margin-bottom: 0pt; font-size: 8pt; font-family: arial; text-align: left;">Affiliated investment.</div> </td> </tr> </table> <table cellpadding="0" cellspacing="0" style="border-collapse: collapse; font-family: arial; font-size: 8pt; border-spacing: 0px; width: 100%;"> <tr style="page-break-inside: avoid;"> <td style="width: 1%;"> </td> <td style="width: 4%; vertical-align: top; text-align: left;">(2)</td> <td style="vertical-align: top; text-align: left;"> <div style="margin-top: 0pt; margin-bottom: 0pt; font-size: 8pt; font-family: arial; text-align: left;">The ratings disclosed are the highest rating given by one of the following national rating agencies: Standard &amp; Poor’s (S&amp;P), Moody’s Investors Service, Inc. (Moody’s) or Fitch, Inc (Fitch). This treatment of split-rated securities may differ from that used for other purposes, such as for Fund investment policies. Credit ratings are subject to change. AAA, AA, A, and BBB are investment grade ratings; BB, B, CCC, CC, C and D are below-investment grade ratings. Holdings designated N/R are not rated by these national ratings agencies.</div> </td> </tr> </table> <table cellpadding="0" cellspacing="0" style="border-collapse: collapse; font-family: arial; font-size: 8pt; border-spacing: 0px; width: 100%;"> <tr style="page-break-inside: avoid;"> <td style="width: 1%;"> </td> <td style="width: 4%; vertical-align: top; text-align: left;">(3)</td> <td style="vertical-align: top; text-align: left;"> <div style="margin-top: 0pt; margin-bottom: 0pt; font-size: 8pt; font-family: arial; text-align: left;">Total investments include the Fund’s assets attributable to financial leverage. For these purposes, financial leverage includes the Fund’s investments in the residual interest certificates (also called inverse floating rate securities) in tender option bond (TOB) trusts, including the portion of assets held by a TOB trust that has been effectively financed by the trust’s issuance of floating rate securities.</div> </td> </tr> </table> The ratings disclosed are the highest rating given by one of the following national rating agencies: Standard &amp; Poor’s (S&amp;P), Moody’s Investors Service, Inc. (Moody’s) or Fitch, Inc (Fitch). This treatment of split-rated securities may differ from that used for other purposes, such as for Fund investment policies. Credit ratings are subject to change. AAA, AA, A, and BBB are investment grade ratings; BB, B, CCC, CC, C and D are below-investment grade ratings. Holdings designated N/R are not rated by these national ratings agencies. Total investments include the Fund’s assets attributable to financial leverage. For these purposes, financial leverage includes the Fund’s investments in the residual interest certificates (also called inverse floating rate securities) in tender option bond (TOB) trusts, including the portion of assets held by a TOB trust that has been effectively financed by the trust’s issuance of floating rate securities. <div style="margin-top: 0pt; margin-bottom: 0pt; margin-left: 2%; font-size: 11pt; font-family: arial;"><span style="color: #0071ce;"><span style="font-weight: bold;">How has the Fund changed? </span></span></div> <div style="margin-top: 6pt; margin-bottom: 0pt; margin-left: 2%; font-size: 9pt; font-family: arial; font-weight: bold;">For more complete information, you may review the Fund’s next prospectus, which is expected to be available by September 30, 2026 at https://www.nuveen.com/en-us/mutual-funds/prospectuses or upon request at (800) 257-8787.</div> <div style="margin-top: 6pt; margin-bottom: 0pt; margin-left: 2%; font-size: 9pt; font-family: arial; font-weight: bold;">For more complete information, you may review the Fund’s next prospectus, which is expected to be available by September 30, 2026 at https://www.nuveen.com/en-us/mutual-funds/prospectuses or upon request at (800) 257-8787.</div> https://www.nuveen.com/en-us/mutual-funds/prospectuses (800) 257-8787 Nuveen Wisconsin Municipal Bond Fund Class C Shares FWCCX This annual shareholder report contains important information about the Class C Shares of the Nuveen Wisconsin Municipal Bond Fund for the period of June 1, 2025 to May 31, 2026. annual shareholder report You can find additional information at https://www.nuveen.com/en-us/mutual-funds/prospectuses. You can also request this information by contacting us at (800) 257-8787. https://www.nuveen.com/en-us/mutual-funds/prospectuses (800) 257-8787 <div style="margin-top:18pt;margin-bottom:0pt;margin-left:2%;margin-right:2%;font-size:9pt;font-family:arial;font-weight:bold;">This report describes changes to the Fund that occurred during the reporting period. </div> <div style="margin-top:0pt;margin-bottom:0pt;margin-left:2%;font-size:11pt;font-family:arial;"><span style="color:#0071ce"><span style="font-weight:bold">What were the Fund costs for the last year? </span></span><span style="font-family:arial">(based on a hypothetical $10,000 investment)</span><span style="font-family:arial;color:#0071ce"><span style="font-weight:bold"> </span></span></div> <table cellpadding="0" cellspacing="0" style="border-collapse:collapse;font-family:arial;font-size:8pt;width:96%;border-spacing:0px;margin:0 auto"> <tr> <td style="width:33%;"></td> <td style="vertical-align:bottom;"></td> <td style="width:33%;"></td> <td style="vertical-align:bottom;"></td> <td style="width:32%;"></td> </tr> <tr style="font-size:1pt"> <td style="height:3pt;"></td> <td colspan="2" style="BORDER-LEFT:0.75pt solid #7fb8e6; BORDER-TOP:0.75pt solid #7fb8e6;height:3pt;"> </td> <td colspan="2" style="BORDER-LEFT:0.75pt solid #7fb8e6; BORDER-TOP:0.75pt solid #7fb8e6; BORDER-RIGHT:0.75pt solid #7fb8e6;height:3pt;"> </td> </tr> <tr style="page-break-inside:avoid;font-family:arial;font-size:8pt"> <td style="vertical-align:bottom;"> </td> <td style=" BORDER-LEFT:0.75pt solid #7fb8e6;vertical-align:bottom;"> </td> <td style="padding-bottom:3pt ;vertical-align:middle;text-align:right;"><span style="font-weight:bold">Cost of a $10,000 investment </span></td> <td style=" BORDER-LEFT:0.75pt solid #7fb8e6;vertical-align:bottom;"> </td> <td style="padding-bottom:3pt ;BORDER-RIGHT:0.75pt solid #7fb8e6; padding-right:2pt;vertical-align:bottom;text-align:right;"><span style="font-weight:bold">Costs paid as a percentage of<br/> $10,000 investment*</span></td> </tr> <tr style="font-size:1pt"> <td style="BORDER-LEFT:0.75pt solid #7fb8e6; BORDER-TOP:0.75pt solid #7fb8e6; padding-left:8pt;height:3pt;"> </td> <td colspan="2" style="BORDER-LEFT:0.75pt solid #7fb8e6; BORDER-TOP:0.75pt solid #7fb8e6;height:3pt;"> </td> <td colspan="2" style="BORDER-LEFT:0.75pt solid #7fb8e6; BORDER-TOP:0.75pt solid #7fb8e6; BORDER-RIGHT:0.75pt solid #7fb8e6;height:3pt;"> </td> </tr> <tr style="page-break-inside:avoid;font-family:arial;font-size:8pt"> <td style="padding-bottom:3pt ;BORDER-LEFT:0.75pt solid #7fb8e6; BORDER-BOTTOM:0.75pt solid #7fb8e6; padding-left:8pt;vertical-align:top;"> <div style="margin-top:0pt;margin-bottom:0pt;margin-left:1.00em;text-indent:-1.00em;font-size:8pt;font-family:arial;">Class C Shares</div></td> <td style=" BORDER-LEFT:0.75pt solid #7fb8e6; BORDER-BOTTOM:0.75pt solid #7fb8e6;vertical-align:bottom;"> </td> <td style="padding-bottom:3pt ;BORDER-BOTTOM:0.75pt solid #7fb8e6;vertical-align:bottom;white-space:nowrap;text-align:right;">$197 </td> <td style=" BORDER-LEFT:0.75pt solid #7fb8e6; BORDER-BOTTOM:0.75pt solid #7fb8e6;vertical-align:bottom;"> </td> <td style="padding-bottom:3pt ;BORDER-RIGHT:0.75pt solid #7fb8e6; BORDER-BOTTOM:0.75pt solid #7fb8e6; padding-right:2pt;vertical-align:bottom;white-space:nowrap;text-align:right;">1.90%</td> </tr> </table> <table cellpadding="0" cellspacing="0" style="border-collapse:collapse;font-family:arial;font-size:8pt;border-spacing:0px;width:100%"> <tr style="page-break-inside:avoid"> <td style="width:3%;"> </td> <td style="width:1%;vertical-align:top;text-align:right;">*</td> <td style="width:1%;vertical-align:top;"> </td> <td style="vertical-align:top;text-align:left;"> <div style="margin-top:0pt;margin-bottom:0pt;font-family:arial;font-size:8pt;text-align:justify;">Annualized for period less than one year. </div></td> <td style="width:2%;"> </td> </tr></table> 197 0.0190 <div style="margin-top:0pt;margin-bottom:0pt;margin-left:2%;font-size:11pt;font-family:arial;"><span style="color:#0071ce"><span style="font-weight:bold">How did the Fund perform last year? What affected the Fund’s performance? </span></span></div> <table cellpadding="0" cellspacing="0" style="border-collapse:collapse;font-family:arial;font-size:9pt;width:96%;border-spacing:0px;margin:0 auto"> <tr> <td style="width:100%;"></td> </tr> <tr style="page-break-inside:avoid;font-family:arial;font-size:9pt"> <td style="vertical-align:top;"> <div style="margin-top:0pt;margin-bottom:0pt;font-size:9pt;font-family:arial;font-weight:bold;">Performance Highlights</div> <div style="font-size:6pt;margin-top:0pt;margin-bottom:0pt;"> </div> <div style="margin-top:0pt;margin-bottom:0pt;margin-right:1.11em;font-size:9pt;font-family:arial;">The Nuveen Wisconsin Municipal Bond Fund returned 7.12% for Class C Shares at net asset value (NAV) for the 12 months ended May 31, 2026. The Fund outperformed the S&amp;P Municipal Bond Wisconsin Index, which returned 6.74%.</div> <div style="font-size:6pt;margin-top:0pt;margin-bottom:0pt;"> </div> <div style="margin-top:0pt;margin-bottom:0pt;margin-right:1.11em;font-size:9pt;font-family:arial;">Top contributors to relative performance</div> <div style="font-size:6pt;margin-top:0pt;margin-bottom:0pt;"> </div> <div style="margin-top:0pt;margin-bottom:0pt;margin-right:1.67em;display:table-row;"> <div style="display:table-cell;"> <div style="margin-top:0pt;margin-bottom:0pt;margin-left:2.222222em;font-family:arial;">•</div></div> <div style="display:table-cell;"> <div style="margin-top:0pt;margin-bottom:0pt;margin-left:0.538889em;font-family:arial;">Duration positioning, especially an overweight to longer-duration bonds.</div></div></div> <div style="font-size:6pt;margin-top:0pt;margin-bottom:0pt;"> </div> <div style="margin-top:0pt;margin-bottom:0pt;margin-right:1.67em;display:table-row;"> <div style="display:table-cell;"> <div style="margin-top:0pt;margin-bottom:0pt;margin-left:2.222222em;font-family:arial;">•</div></div> <div style="display:table-cell;"> <div style="margin-top:0pt;margin-bottom:0pt;margin-left:0.538889em;font-family:arial;">Credit-quality positioning, especially an overweight to BBB-rated bonds.</div></div></div> <div style="font-size:6pt;margin-top:0pt;margin-bottom:0pt;"> </div> <div style="margin-top:0pt;margin-bottom:0pt;margin-right:1.67em;display:table-row;"> <div style="display:table-cell;"> <div style="margin-top:0pt;margin-bottom:0pt;margin-left:2.222222em;font-family:arial;">•</div></div> <div style="display:table-cell;"> <div style="margin-top:0pt;margin-bottom:0pt;margin-left:0.538889em;font-family:arial;">Sector positioning, especially an overweight to appropriation, health care and housing bonds and an underweight to state general obligation bonds.</div></div></div> <div style="font-size:6pt;margin-top:0pt;margin-bottom:0pt;"> </div> <div style="margin-top:0pt;margin-bottom:0pt;margin-right:1.67em;display:table-row;"> <div style="display:table-cell;"> <div style="margin-top:0pt;margin-bottom:0pt;margin-left:2.222222em;font-family:arial;">•</div></div> <div style="display:table-cell;"> <div style="margin-top:0pt;margin-bottom:0pt;margin-left:0.538889em;font-family:arial;">Security selection, especially among non-rated and out-of-state bonds.</div></div></div> <div style="font-size:6pt;margin-top:0pt;margin-bottom:0pt;"> </div> <div style="margin-top:0pt;margin-bottom:0pt;margin-right:1.11em;font-size:9pt;font-family:arial;">Top detractors from relative performance</div> <div style="font-size:6pt;margin-top:0pt;margin-bottom:0pt;"> </div> <div style="margin-top:0pt;margin-bottom:0pt;margin-right:1.67em;display:table-row;"> <div style="display:table-cell;"> <div style="margin-top:0pt;margin-bottom:0pt;margin-left:2.222222em;font-family:arial;">•</div></div> <div style="display:table-cell;"> <div style="margin-top:0pt;margin-bottom:0pt;margin-left:0.538889em;font-family:arial;">Overweights to dedicated-tax and utility bonds.</div></div></div></td> </tr> </table> Performance data shown represents past performance and does not predict or guarantee future results. The<span style="font-weight:bold"> </span>graph and table do not reflect the deduction of taxes that a shareholder would pay on Fund distributions or redemption of Fund Shares. <div style="margin-top:0pt;margin-bottom:0pt;margin-left:2%;margin-right:2%;"> <img alt="LOGO" src="g133061g00v02.jpg"/> </div> <div style="margin-top:0pt;margin-bottom:0pt;margin-left:2%;margin-right:2%;font-size:9pt;font-family:arial;font-weight:bold;">Average Annual Total Returns </div> <table cellpadding="0" cellspacing="0" style="border-collapse:collapse;font-family:arial;font-size:8pt;width:96%;border-spacing:0px;margin:0 auto"> <tr> <td style="width:64%;"></td> <td style="vertical-align:bottom;width:6%;"></td> <td></td> <td></td> <td style="vertical-align:bottom;width:3%;"></td> <td style="vertical-align:bottom;width:6%;"></td> <td></td> <td></td> <td style="vertical-align:bottom;width:3%;"></td> <td style="vertical-align:bottom;width:6%;"></td> <td></td> <td></td> <td style="vertical-align:bottom;width:3%;"></td> </tr> <tr style="font-size:1pt"> <td style="height:3pt;"></td> <td colspan="4" style="BORDER-LEFT:0.75pt solid #7fb8e6; BORDER-TOP:0.75pt solid #7fb8e6; BORDER-RIGHT:0.75pt solid #7fb8e6;height:3pt;"> </td> <td colspan="4" style="BORDER-TOP:0.75pt solid #7fb8e6;height:3pt;"> </td> <td colspan="4" style="BORDER-LEFT:0.75pt solid #7fb8e6; BORDER-TOP:0.75pt solid #7fb8e6; BORDER-RIGHT:0.75pt solid #7fb8e6;height:3pt;"> </td> </tr> <tr style="page-break-inside:avoid;font-family:arial;font-size:8pt"> <td style="vertical-align:top;"> </td> <td style=" BORDER-LEFT:0.75pt solid #7fb8e6;vertical-align:bottom;">    </td> <td colspan="2" style="padding-bottom:3pt ;vertical-align:bottom;white-space:nowrap;text-align:center;"><span style="font-weight:bold">1-Year</span></td> <td style=" BORDER-RIGHT:0.75pt solid #7fb8e6;vertical-align:bottom;"> </td> <td style="vertical-align:bottom;">    </td> <td colspan="2" style="padding-bottom:3pt ;vertical-align:bottom;white-space:nowrap;text-align:center;"><span style="font-weight:bold">5-Year</span></td> <td style="vertical-align:bottom;"> </td> <td style=" BORDER-LEFT:0.75pt solid #7fb8e6;vertical-align:bottom;">    </td> <td colspan="2" style="padding-bottom:3pt ;vertical-align:bottom;white-space:nowrap;text-align:center;"><span style="font-weight:bold">10-Year</span></td> <td style=" BORDER-RIGHT:0.75pt solid #7fb8e6; padding-right:2pt;vertical-align:bottom;"> </td> </tr> <tr style="font-size:1pt"> <td style="BORDER-LEFT:0.75pt solid #7fb8e6; BORDER-TOP:0.75pt solid #7fb8e6; padding-left:8pt;height:3pt;"> </td> <td colspan="4" style="BORDER-LEFT:0.75pt solid #7fb8e6; BORDER-TOP:0.75pt solid #7fb8e6; BORDER-RIGHT:0.75pt solid #7fb8e6;height:3pt;"> </td> <td colspan="4" style="BORDER-TOP:0.75pt solid #7fb8e6;height:3pt;"> </td> <td colspan="4" style="BORDER-LEFT:0.75pt solid #7fb8e6; BORDER-TOP:0.75pt solid #7fb8e6; BORDER-RIGHT:0.75pt solid #7fb8e6;height:3pt;"> </td> </tr> <tr style="page-break-inside:avoid;font-family:arial;font-size:8pt"> <td style="padding-bottom:3pt ;BORDER-LEFT:0.75pt solid #7fb8e6; padding-left:8pt;vertical-align:top;"> <div style="margin-top:0pt;margin-bottom:0pt;margin-left:1.00em;text-indent:-1.00em;font-size:8pt;font-family:arial;">Class C Shares at NAV (excluding maximum sales charge)</div></td> <td style=" BORDER-LEFT:0.75pt solid #7fb8e6;vertical-align:bottom;">    </td> <td style="padding-bottom:3pt ;white-space:nowrap;vertical-align:bottom;"> </td> <td style="padding-bottom:3pt ;white-space:nowrap;vertical-align:bottom;text-align:right;">7.12</td> <td style="padding-bottom:3pt ;BORDER-RIGHT:0.75pt solid #7fb8e6;white-space:nowrap;vertical-align:bottom;">% </td> <td style="vertical-align:bottom;">    </td> <td style="padding-bottom:3pt ;white-space:nowrap;vertical-align:bottom;"> </td> <td style="padding-bottom:3pt ;white-space:nowrap;vertical-align:bottom;text-align:right;">0.17</td> <td style="padding-bottom:3pt ;white-space:nowrap;vertical-align:bottom;">% </td> <td style=" BORDER-LEFT:0.75pt solid #7fb8e6;vertical-align:bottom;">    </td> <td style="padding-bottom:3pt ;white-space:nowrap;vertical-align:bottom;"> </td> <td style="padding-bottom:3pt ;white-space:nowrap;vertical-align:bottom;text-align:right;">1.44</td> <td style="padding-bottom:3pt ;BORDER-RIGHT:0.75pt solid #7fb8e6; padding-right:2pt;white-space:nowrap;vertical-align:bottom;">% </td> </tr> <tr style="font-size:1pt"> <td style="BORDER-LEFT:0.75pt solid #7fb8e6; BORDER-TOP:0.75pt solid #7fb8e6; padding-left:8pt;height:3pt;"> </td> <td colspan="4" style="BORDER-LEFT:0.75pt solid #7fb8e6; BORDER-TOP:0.75pt solid #7fb8e6; BORDER-RIGHT:0.75pt solid #7fb8e6;height:3pt;"> </td> <td colspan="4" style="BORDER-TOP:0.75pt solid #7fb8e6;height:3pt;"> </td> <td colspan="4" style="BORDER-LEFT:0.75pt solid #7fb8e6; BORDER-TOP:0.75pt solid #7fb8e6; BORDER-RIGHT:0.75pt solid #7fb8e6;height:3pt;"> </td> </tr> <tr style="page-break-inside:avoid;font-family:arial;font-size:8pt"> <td style="padding-bottom:3pt ;BORDER-LEFT:0.75pt solid #7fb8e6; padding-left:8pt;vertical-align:top;"> <div style="margin-top:0pt;margin-bottom:0pt;margin-left:1.00em;text-indent:-1.00em;font-size:8pt;font-family:arial;">S&amp;P Municipal Bond Index</div></td> <td style=" BORDER-LEFT:0.75pt solid #7fb8e6;vertical-align:bottom;">    </td> <td style="padding-bottom:3pt ;white-space:nowrap;vertical-align:bottom;"> </td> <td style="padding-bottom:3pt ;white-space:nowrap;vertical-align:bottom;text-align:right;">6.57</td> <td style="padding-bottom:3pt ;BORDER-RIGHT:0.75pt solid #7fb8e6;white-space:nowrap;vertical-align:bottom;">% </td> <td style="vertical-align:bottom;">    </td> <td style="padding-bottom:3pt ;white-space:nowrap;vertical-align:bottom;"> </td> <td style="padding-bottom:3pt ;white-space:nowrap;vertical-align:bottom;text-align:right;">1.14</td> <td style="padding-bottom:3pt ;white-space:nowrap;vertical-align:bottom;">% </td> <td style=" BORDER-LEFT:0.75pt solid #7fb8e6;vertical-align:bottom;">    </td> <td style="padding-bottom:3pt ;white-space:nowrap;vertical-align:bottom;"> </td> <td style="padding-bottom:3pt ;white-space:nowrap;vertical-align:bottom;text-align:right;">2.30</td> <td style="padding-bottom:3pt ;BORDER-RIGHT:0.75pt solid #7fb8e6; padding-right:2pt;white-space:nowrap;vertical-align:bottom;">% </td> </tr> <tr style="font-size:1pt"> <td style="BORDER-LEFT:0.75pt solid #7fb8e6; BORDER-TOP:0.75pt solid #7fb8e6; padding-left:8pt;height:3pt;"> </td> <td colspan="4" style="BORDER-LEFT:0.75pt solid #7fb8e6; BORDER-TOP:0.75pt solid #7fb8e6; BORDER-RIGHT:0.75pt solid #7fb8e6;height:3pt;"> </td> <td colspan="4" style="BORDER-TOP:0.75pt solid #7fb8e6;height:3pt;"> </td> <td colspan="4" style="BORDER-LEFT:0.75pt solid #7fb8e6; BORDER-TOP:0.75pt solid #7fb8e6; BORDER-RIGHT:0.75pt solid #7fb8e6;height:3pt;"> </td> </tr> <tr style="page-break-inside:avoid;font-family:arial;font-size:8pt"> <td style="padding-bottom:3pt ;BORDER-LEFT:0.75pt solid #7fb8e6; padding-left:8pt;vertical-align:top;"> <div style="margin-top:0pt;margin-bottom:0pt;margin-left:1.00em;text-indent:-1.00em;font-size:8pt;font-family:arial;">S&amp;P Municipal Bond Wisconsin Index</div></td> <td style=" BORDER-LEFT:0.75pt solid #7fb8e6;vertical-align:bottom;">    </td> <td style="padding-bottom:3pt ;white-space:nowrap;vertical-align:bottom;"> </td> <td style="padding-bottom:3pt ;white-space:nowrap;vertical-align:bottom;text-align:right;">6.74</td> <td style="padding-bottom:3pt ;BORDER-RIGHT:0.75pt solid #7fb8e6;white-space:nowrap;vertical-align:bottom;">% </td> <td style="vertical-align:bottom;">    </td> <td style="padding-bottom:3pt ;white-space:nowrap;vertical-align:bottom;"> </td> <td style="padding-bottom:3pt ;white-space:nowrap;vertical-align:bottom;text-align:right;">1.45</td> <td style="padding-bottom:3pt ;white-space:nowrap;vertical-align:bottom;">% </td> <td style=" BORDER-LEFT:0.75pt solid #7fb8e6;vertical-align:bottom;">    </td> <td style="padding-bottom:3pt ;white-space:nowrap;vertical-align:bottom;"> </td> <td style="padding-bottom:3pt ;white-space:nowrap;vertical-align:bottom;text-align:right;">2.42</td> <td style="padding-bottom:3pt ;BORDER-RIGHT:0.75pt solid #7fb8e6; padding-right:2pt;white-space:nowrap;vertical-align:bottom;">% </td> </tr> <tr style="font-size:1pt"> <td style="BORDER-LEFT:0.75pt solid #7fb8e6; BORDER-TOP:0.75pt solid #7fb8e6; padding-left:8pt;height:3pt;"> </td> <td colspan="4" style="BORDER-LEFT:0.75pt solid #7fb8e6; BORDER-TOP:0.75pt solid #7fb8e6; BORDER-RIGHT:0.75pt solid #7fb8e6;height:3pt;"> </td> <td colspan="4" style="BORDER-TOP:0.75pt solid #7fb8e6;height:3pt;"> </td> <td colspan="4" style="BORDER-LEFT:0.75pt solid #7fb8e6; BORDER-TOP:0.75pt solid #7fb8e6; BORDER-RIGHT:0.75pt solid #7fb8e6;height:3pt;"> </td> </tr> <tr style="page-break-inside:avoid;font-family:arial;font-size:8pt"> <td style="padding-bottom:3pt ;BORDER-LEFT:0.75pt solid #7fb8e6; BORDER-BOTTOM:0.75pt solid #7fb8e6; padding-left:8pt;vertical-align:top;"> <div style="margin-top:0pt;margin-bottom:0pt;margin-left:1.00em;text-indent:-1.00em;font-size:8pt;font-family:arial;">Lipper Other States Municipal Debt Funds Classification Average</div></td> <td style=" BORDER-LEFT:0.75pt solid #7fb8e6; BORDER-BOTTOM:0.75pt solid #7fb8e6;vertical-align:bottom;">    </td> <td style="padding-bottom:3pt ;BORDER-BOTTOM:0.75pt solid #7fb8e6;white-space:nowrap;vertical-align:bottom;"> </td> <td style="padding-bottom:3pt ;BORDER-BOTTOM:0.75pt solid #7fb8e6;white-space:nowrap;vertical-align:bottom;text-align:right;">7.08</td> <td style="padding-bottom:3pt ;BORDER-RIGHT:0.75pt solid #7fb8e6; BORDER-BOTTOM:0.75pt solid #7fb8e6;white-space:nowrap;vertical-align:bottom;">% </td> <td style=" BORDER-BOTTOM:0.75pt solid #7fb8e6;vertical-align:bottom;">    </td> <td style="padding-bottom:3pt ;BORDER-BOTTOM:0.75pt solid #7fb8e6;white-space:nowrap;vertical-align:bottom;"> </td> <td style="padding-bottom:3pt ;BORDER-BOTTOM:0.75pt solid #7fb8e6;white-space:nowrap;vertical-align:bottom;text-align:right;">0.43</td> <td style="padding-bottom:3pt ;BORDER-BOTTOM:0.75pt solid #7fb8e6;white-space:nowrap;vertical-align:bottom;">% </td> <td style=" BORDER-LEFT:0.75pt solid #7fb8e6; BORDER-BOTTOM:0.75pt solid #7fb8e6;vertical-align:bottom;">    </td> <td style="padding-bottom:3pt ;BORDER-BOTTOM:0.75pt solid #7fb8e6;white-space:nowrap;vertical-align:bottom;"> </td> <td style="padding-bottom:3pt ;BORDER-BOTTOM:0.75pt solid #7fb8e6;white-space:nowrap;vertical-align:bottom;text-align:right;">1.54</td> <td style="padding-bottom:3pt ;BORDER-RIGHT:0.75pt solid #7fb8e6; BORDER-BOTTOM:0.75pt solid #7fb8e6; padding-right:2pt;white-space:nowrap;vertical-align:bottom;">% </td> </tr> </table> Class C Shares at NAV (excluding maximum sales charge) 0.0712 0.0017 0.0144 S&P Municipal Bond Index 0.0657 0.0114 0.0230 S&P Municipal Bond Wisconsin Index 0.0674 0.0145 0.0242 Lipper Other States Municipal Debt Funds Classification Average 0.0708 0.0043 0.0154 For most recent month-end performance, go to https://www.nuveen.com/en-us/mutual-funds/prospectuses or call (800) 257‑8787. <div style="margin-top:0pt;margin-bottom:0pt;margin-left:2%;font-size:11pt;font-family:arial;"><span style="color:#0071ce"><span style="font-weight:bold">Fund Statistics (as of May 31, 2026) </span></span></div> <table cellpadding="0" cellspacing="0" style="border-collapse:collapse;font-family:arial;font-size:8pt;width:96%;border-spacing:0px;margin:0 auto"> <tr> <td style="width:87%;"></td> <td style="vertical-align:bottom;width:2%;"></td> <td></td> <td></td> <td style="vertical-align:bottom;width:2%;"></td> </tr> <tr style="font-size:1pt"> <td style="height:3pt;"></td> <td colspan="4" style="height:3pt;"></td> </tr> <tr style="page-break-inside:avoid;font-family:arial;font-size:8pt"> <td style="padding-bottom:3pt ;BORDER-BOTTOM:0.75pt solid #7fb8e6;vertical-align:top;"> <div style="margin-top:0pt;margin-bottom:0pt;margin-left:1.00em;text-indent:-1.00em;font-size:8pt;font-family:arial;">Fund net assets</div></td> <td style=" BORDER-BOTTOM:0.75pt solid #7fb8e6;vertical-align:bottom;">  </td> <td style="padding-bottom:3pt ;BORDER-BOTTOM:0.75pt solid #7fb8e6;white-space:nowrap;vertical-align:bottom;">$</td> <td style="padding-bottom:3pt ;BORDER-BOTTOM:0.75pt solid #7fb8e6;white-space:nowrap;vertical-align:bottom;text-align:right;">102,921,015</td> <td style="padding-bottom:3pt ;BORDER-BOTTOM:0.75pt solid #7fb8e6;white-space:nowrap;vertical-align:bottom;"> </td> </tr> <tr style="font-size:1pt"> <td style="height:3pt;"></td> <td colspan="4" style="height:3pt;"></td> </tr> <tr style="page-break-inside:avoid;font-family:arial;font-size:8pt"> <td style="padding-bottom:3pt ;BORDER-BOTTOM:0.75pt solid #7fb8e6;vertical-align:top;"> <div style="margin-top:0pt;margin-bottom:0pt;margin-left:1.00em;text-indent:-1.00em;font-size:8pt;font-family:arial;">Total number of portfolio holdings</div></td> <td style=" BORDER-BOTTOM:0.75pt solid #7fb8e6;vertical-align:bottom;">  </td> <td style="padding-bottom:3pt ;BORDER-BOTTOM:0.75pt solid #7fb8e6;white-space:nowrap;vertical-align:bottom;"> </td> <td style="padding-bottom:3pt ;BORDER-BOTTOM:0.75pt solid #7fb8e6;white-space:nowrap;vertical-align:bottom;text-align:right;">91</td> <td style="padding-bottom:3pt ;BORDER-BOTTOM:0.75pt solid #7fb8e6;white-space:nowrap;vertical-align:bottom;"> </td> </tr> <tr style="font-size:1pt"> <td style="height:3pt;"></td> <td colspan="4" style="height:3pt;"></td> </tr> <tr style="page-break-inside:avoid;font-family:arial;font-size:8pt"> <td style="padding-bottom:3pt ;BORDER-BOTTOM:0.75pt solid #7fb8e6;vertical-align:top;"> <div style="margin-top:0pt;margin-bottom:0pt;margin-left:1.00em;text-indent:-1.00em;font-size:8pt;font-family:arial;">Portfolio turnover (%)</div></td> <td style=" BORDER-BOTTOM:0.75pt solid #7fb8e6;vertical-align:bottom;">  </td> <td style="padding-bottom:3pt ;BORDER-BOTTOM:0.75pt solid #7fb8e6;white-space:nowrap;vertical-align:bottom;"> </td> <td style="padding-bottom:3pt ;BORDER-BOTTOM:0.75pt solid #7fb8e6;white-space:nowrap;vertical-align:bottom;text-align:right;">8%</td> <td style="padding-bottom:3pt ;BORDER-BOTTOM:0.75pt solid #7fb8e6;white-space:nowrap;vertical-align:bottom;"> </td> </tr> <tr style="font-size:1pt"> <td style="height:3pt;"></td> <td colspan="4" style="height:3pt;"></td> </tr> <tr style="page-break-inside:avoid;font-family:arial;font-size:8pt"> <td style="padding-bottom:3pt ;BORDER-BOTTOM:0.75pt solid #7fb8e6;vertical-align:top;"> <div style="margin-top:0pt;margin-bottom:0pt;margin-left:1.00em;text-indent:-1.00em;font-size:8pt;font-family:arial;">Total management fees paid for the year</div></td> <td style=" BORDER-BOTTOM:0.75pt solid #7fb8e6;vertical-align:bottom;">  </td> <td style="padding-bottom:3pt ;BORDER-BOTTOM:0.75pt solid #7fb8e6;white-space:nowrap;vertical-align:bottom;">$</td> <td style="padding-bottom:3pt ;BORDER-BOTTOM:0.75pt solid #7fb8e6;white-space:nowrap;vertical-align:bottom;text-align:right;">413,794</td> <td style="padding-bottom:3pt ;BORDER-BOTTOM:0.75pt solid #7fb8e6;white-space:nowrap;vertical-align:bottom;"> </td> </tr> </table> 102921015 91 0.08 413794 <table cellpadding="0" cellspacing="0" style="border-collapse:collapse;font-family:arial;font-size:9pt;width:100%;border-spacing:0px;margin:0 auto"> <tr> <td style="width:50%;"></td> <td style="vertical-align:bottom;width:1%;"></td> <td style="width:49%;"></td> </tr> <tr style="page-break-inside:avoid;font-family:arial;font-size:9pt"> <td style="vertical-align:top;"> <div style="margin-top:0pt;margin-bottom:0pt;margin-left:1.11em;margin-right:1.11em;"> <img alt="LOGO" src="g133061g31h58.jpg"/> </div></td> <td style="vertical-align:bottom;"> </td> <td style="vertical-align:top;"> <div style="margin-top:0pt;margin-bottom:0pt;margin-left:1.11em;margin-right:1.11em;"> <img alt="LOGO" src="g133061g78e97.jpg"/> </div></td> </tr> </table> <table cellpadding="0" cellspacing="0" style="border-collapse:collapse;font-family:arial;font-size:8pt;border-spacing:0px;width:100%"> <tr style="page-break-inside:avoid"> <td style="width:1%;"> </td> <td style="width:4%;vertical-align:top;text-align:left;">(1)</td> <td style="vertical-align:top;text-align:left;"> <div style="margin-top:0pt;margin-bottom:0pt;font-size:8pt;font-family:arial;text-align:left;">Affiliated investment. </div></td> </tr></table> <table cellpadding="0" cellspacing="0" style="border-collapse:collapse;font-family:arial;font-size:8pt;border-spacing:0px;width:100%"> <tr style="page-break-inside:avoid"> <td style="width:1%;"> </td> <td style="width:4%;vertical-align:top;text-align:left;">(2)</td> <td style="vertical-align:top;text-align:left;"> <div style="margin-top:0pt;margin-bottom:0pt;font-size:8pt;font-family:arial;text-align:left;">The ratings disclosed are the highest rating given by one of the following national rating agencies: Standard &amp; Poor’s (S&amp;P), Moody’s Investors Service, Inc. (Moody’s) or Fitch, Inc (Fitch). This treatment of split-rated securities may differ from that used for other purposes, such as for Fund investment policies. Credit ratings are subject to change. AAA, AA, A, and BBB are investment grade ratings; BB, B, CCC, CC, C and D are below-investment grade ratings. Holdings designated N/R are not rated by these national ratings agencies. </div></td> </tr></table> <table cellpadding="0" cellspacing="0" style="border-collapse:collapse;font-family:arial;font-size:8pt;border-spacing:0px;width:100%"> <tr style="page-break-inside:avoid"> <td style="width:1%;"> </td> <td style="width:4%;vertical-align:top;text-align:left;">(3)</td> <td style="vertical-align:top;text-align:left;"> <div style="margin-top:0pt;margin-bottom:0pt;font-size:8pt;font-family:arial;text-align:left;">Total investments include the Fund’s assets attributable to financial leverage. For these purposes, financial leverage includes the Fund’s investments in the residual interest certificates (also called inverse floating rate securities) in tender option bond (TOB) trusts, including the portion of assets held by a TOB trust that has been effectively financed by the trust’s issuance of floating rate securities. </div></td> </tr></table> The ratings disclosed are the highest rating given by one of the following national rating agencies: Standard &amp; Poor’s (S&amp;P), Moody’s Investors Service, Inc. (Moody’s) or Fitch, Inc (Fitch). This treatment of split-rated securities may differ from that used for other purposes, such as for Fund investment policies. Credit ratings are subject to change. AAA, AA, A, and BBB are investment grade ratings; BB, B, CCC, CC, C and D are below-investment grade ratings. Holdings designated N/R are not rated by these national ratings agencies. Total investments include the Fund’s assets attributable to financial leverage. For these purposes, financial leverage includes the Fund’s investments in the residual interest certificates (also called inverse floating rate securities) in tender option bond (TOB) trusts, including the portion of assets held by a TOB trust that has been effectively financed by the trust’s issuance of floating rate securities. <div style="margin-top:0pt;margin-bottom:0pt;margin-left:2%;font-size:11pt;font-family:arial;"><span style="color:#0071ce"><span style="font-weight:bold">How has the Fund changed? </span></span></div><div style="margin-top:6pt;margin-bottom:0pt;margin-left:2%;font-size:9pt;font-family:arial;font-weight:bold;">For more complete information, you may review the Fund’s next prospectus, which is expected to be available by September 30, 2026 at https://www.nuveen.com/en-us/mutual-funds/prospectuses or upon request at (800) 257-8787. </div> <div style="margin-top:6pt;margin-bottom:0pt;margin-left:2%;font-size:9pt;font-family:arial;font-weight:bold;">For more complete information, you may review the Fund’s next prospectus, which is expected to be available by September 30, 2026 at https://www.nuveen.com/en-us/mutual-funds/prospectuses or upon request at (800) 257-8787. </div> https://www.nuveen.com/en-us/mutual-funds/prospectuses (800) 257-8787 Nuveen Wisconsin Municipal Bond Fund Class I Shares FWIRX This annual shareholder report contains important information about the Class I Shares of the Nuveen Wisconsin Municipal Bond Fund for the period of June 1, 2025 to May 31, 2026. annual shareholder report You can find additional information at https://www.nuveen.com/en-us/mutual-funds/prospectuses. You can also request this information by contacting us at (800) 257-8787. https://www.nuveen.com/en-us/mutual-funds/prospectuses (800) 257-8787 <div style="margin-top:18pt;margin-bottom:0pt;margin-left:2%;margin-right:2%;font-size:9pt;font-family:arial;font-weight:bold;">This report describes changes to the Fund that occurred during the reporting period. </div> <div style="margin-top:0pt;margin-bottom:0pt;margin-left:2%;font-size:11pt;font-family:arial;"><span style="color:#0071ce"><span style="font-weight:bold">What were the Fund costs for the last year? </span></span><span style="font-family:arial">(based on a hypothetical $10,000 investment)</span><span style="font-family:arial;color:#0071ce"><span style="font-weight:bold"> </span></span></div> <table cellpadding="0" cellspacing="0" style="border-collapse:collapse;font-family:arial;font-size:8pt;width:96%;border-spacing:0px;margin:0 auto"> <tr> <td style="width:33%;"></td> <td style="vertical-align:bottom;"></td> <td style="width:33%;"></td> <td style="vertical-align:bottom;"></td> <td style="width:32%;"></td> </tr> <tr style="font-size:1pt"> <td style="height:3pt;"></td> <td colspan="2" style="BORDER-LEFT:0.75pt solid #7fb8e6; BORDER-TOP:0.75pt solid #7fb8e6;height:3pt;"> </td> <td colspan="2" style="BORDER-LEFT:0.75pt solid #7fb8e6; BORDER-TOP:0.75pt solid #7fb8e6; BORDER-RIGHT:0.75pt solid #7fb8e6;height:3pt;"> </td> </tr> <tr style="page-break-inside:avoid;font-family:arial;font-size:8pt"> <td style="vertical-align:bottom;"> </td> <td style=" BORDER-LEFT:0.75pt solid #7fb8e6;vertical-align:bottom;"> </td> <td style="padding-bottom:3pt ;vertical-align:middle;text-align:right;"><span style="font-weight:bold">Cost of a $10,000 investment </span></td> <td style=" BORDER-LEFT:0.75pt solid #7fb8e6;vertical-align:bottom;"> </td> <td style="padding-bottom:3pt ;BORDER-RIGHT:0.75pt solid #7fb8e6; padding-right:2pt;vertical-align:bottom;text-align:right;"><span style="font-weight:bold">Costs paid as a percentage of<br/> $10,000 investment*</span></td> </tr> <tr style="font-size:1pt"> <td style="BORDER-LEFT:0.75pt solid #7fb8e6; BORDER-TOP:0.75pt solid #7fb8e6; padding-left:8pt;height:3pt;"> </td> <td colspan="2" style="BORDER-LEFT:0.75pt solid #7fb8e6; BORDER-TOP:0.75pt solid #7fb8e6;height:3pt;"> </td> <td colspan="2" style="BORDER-LEFT:0.75pt solid #7fb8e6; BORDER-TOP:0.75pt solid #7fb8e6; BORDER-RIGHT:0.75pt solid #7fb8e6;height:3pt;"> </td> </tr> <tr style="page-break-inside:avoid;font-family:arial;font-size:8pt"> <td style="padding-bottom:3pt ;BORDER-LEFT:0.75pt solid #7fb8e6; BORDER-BOTTOM:0.75pt solid #7fb8e6; padding-left:8pt;vertical-align:top;"> <div style="margin-top:0pt;margin-bottom:0pt;margin-left:1.00em;text-indent:-1.00em;font-size:8pt;font-family:arial;">Class I Shares</div></td> <td style=" BORDER-LEFT:0.75pt solid #7fb8e6; BORDER-BOTTOM:0.75pt solid #7fb8e6;vertical-align:bottom;"> </td> <td style="padding-bottom:3pt ;BORDER-BOTTOM:0.75pt solid #7fb8e6;vertical-align:bottom;white-space:nowrap;text-align:right;">$94 </td> <td style=" BORDER-LEFT:0.75pt solid #7fb8e6; BORDER-BOTTOM:0.75pt solid #7fb8e6;vertical-align:bottom;"> </td> <td style="padding-bottom:3pt ;BORDER-RIGHT:0.75pt solid #7fb8e6; BORDER-BOTTOM:0.75pt solid #7fb8e6; padding-right:2pt;vertical-align:bottom;white-space:nowrap;text-align:right;">0.90%</td> </tr> </table> <table cellpadding="0" cellspacing="0" style="border-collapse:collapse;font-family:arial;font-size:8pt;border-spacing:0px;width:100%"> <tr style="page-break-inside:avoid"> <td style="width:3%;"> </td> <td style="width:1%;vertical-align:top;text-align:right;">*</td> <td style="width:1%;vertical-align:top;"> </td> <td style="vertical-align:top;text-align:left;"> <div style="margin-top:0pt;margin-bottom:0pt;font-family:arial;font-size:8pt;text-align:justify;">Annualized for period less than one year. </div></td> <td style="width:2%;"> </td> </tr></table> 94 0.0090 <div style="margin-top:0pt;margin-bottom:0pt;margin-left:2%;font-size:11pt;font-family:arial;"><span style="color:#0071ce"><span style="font-weight:bold">How did the Fund perform last year? What affected the Fund’s performance? </span></span></div> <table cellpadding="0" cellspacing="0" style="border-collapse:collapse;font-family:arial;font-size:9pt;width:96%;border-spacing:0px;margin:0 auto"> <tr> <td style="width:100%;"></td> </tr> <tr style="page-break-inside:avoid;font-family:arial;font-size:9pt"> <td style="vertical-align:top;"> <div style="margin-top:0pt;margin-bottom:0pt;font-size:9pt;font-family:arial;font-weight:bold;">Performance Highlights</div> <div style="font-size:6pt;margin-top:0pt;margin-bottom:0pt;"> </div> <div style="margin-top:0pt;margin-bottom:0pt;margin-right:1.11em;font-size:9pt;font-family:arial;">The Nuveen Wisconsin Municipal Bond Fund returned 8.17% for Class I Shares at net asset value (NAV) for the 12 months ended May 31, 2026. The Fund outperformed the S&amp;P Municipal Bond Wisconsin Index, which returned 6.74%.</div> <div style="font-size:6pt;margin-top:0pt;margin-bottom:0pt;"> </div> <div style="margin-top:0pt;margin-bottom:0pt;margin-right:1.11em;font-size:9pt;font-family:arial;">Top contributors to relative performance</div> <div style="font-size:6pt;margin-top:0pt;margin-bottom:0pt;"> </div> <div style="margin-top:0pt;margin-bottom:0pt;margin-right:1.67em;display:table-row;"> <div style="display:table-cell;"> <div style="margin-top:0pt;margin-bottom:0pt;margin-left:2.222222em;font-family:arial;">•</div></div> <div style="display:table-cell;"> <div style="margin-top:0pt;margin-bottom:0pt;margin-left:0.538889em;font-family:arial;">Duration positioning, especially an overweight to longer-duration bonds.</div></div></div> <div style="font-size:6pt;margin-top:0pt;margin-bottom:0pt;"> </div> <div style="margin-top:0pt;margin-bottom:0pt;margin-right:1.67em;display:table-row;"> <div style="display:table-cell;"> <div style="margin-top:0pt;margin-bottom:0pt;margin-left:2.222222em;font-family:arial;">•</div></div> <div style="display:table-cell;"> <div style="margin-top:0pt;margin-bottom:0pt;margin-left:0.538889em;font-family:arial;">Credit-quality positioning, especially an overweight to BBB-rated bonds.</div></div></div> <div style="font-size:6pt;margin-top:0pt;margin-bottom:0pt;"> </div> <div style="margin-top:0pt;margin-bottom:0pt;margin-right:1.67em;display:table-row;"> <div style="display:table-cell;"> <div style="margin-top:0pt;margin-bottom:0pt;margin-left:2.222222em;font-family:arial;">•</div></div> <div style="display:table-cell;"> <div style="margin-top:0pt;margin-bottom:0pt;margin-left:0.538889em;font-family:arial;">Sector positioning, especially an overweight to appropriation, health care and housing bonds and an underweight to state general obligation bonds.</div></div></div> <div style="font-size:6pt;margin-top:0pt;margin-bottom:0pt;"> </div> <div style="margin-top:0pt;margin-bottom:0pt;margin-right:1.67em;display:table-row;"> <div style="display:table-cell;"> <div style="margin-top:0pt;margin-bottom:0pt;margin-left:2.222222em;font-family:arial;">•</div></div> <div style="display:table-cell;"> <div style="margin-top:0pt;margin-bottom:0pt;margin-left:0.538889em;font-family:arial;">Security selection, especially among non-rated and out-of-state bonds.</div></div></div> <div style="font-size:6pt;margin-top:0pt;margin-bottom:0pt;"> </div> <div style="margin-top:0pt;margin-bottom:0pt;margin-right:1.11em;font-size:9pt;font-family:arial;">Top detractors from relative performance</div> <div style="font-size:6pt;margin-top:0pt;margin-bottom:0pt;"> </div> <div style="margin-top:0pt;margin-bottom:0pt;margin-right:1.67em;display:table-row;"> <div style="display:table-cell;"> <div style="margin-top:0pt;margin-bottom:0pt;margin-left:2.222222em;font-family:arial;">•</div></div> <div style="display:table-cell;"> <div style="margin-top:0pt;margin-bottom:0pt;margin-left:0.538889em;font-family:arial;">Overweights to dedicated-tax and utility bonds.</div></div></div></td> </tr> </table> Performance data shown represents past performance and does not predict or guarantee future results. The<span style="font-weight:bold"> </span>graph and table do not reflect the deduction of taxes that a shareholder would pay on Fund distributions or redemption of Fund Shares. <div style="margin-top:0pt;margin-bottom:0pt;margin-left:2%;margin-right:2%;"> <img alt="LOGO" src="g133061g00v03.jpg"/> </div> <div style="margin-top:0pt;margin-bottom:0pt;margin-left:2%;margin-right:2%;font-size:9pt;font-family:arial;font-weight:bold;">Average Annual Total Returns </div> <table cellpadding="0" cellspacing="0" style="border-collapse:collapse;font-family:arial;font-size:8pt;width:96%;border-spacing:0px;margin:0 auto"> <tr> <td style="width:64%;"></td> <td style="vertical-align:bottom;width:6%;"></td> <td></td> <td></td> <td style="vertical-align:bottom;width:3%;"></td> <td style="vertical-align:bottom;width:6%;"></td> <td></td> <td></td> <td style="vertical-align:bottom;width:3%;"></td> <td style="vertical-align:bottom;width:6%;"></td> <td></td> <td></td> <td style="vertical-align:bottom;width:3%;"></td> </tr> <tr style="font-size:1pt"> <td style="height:3pt;"></td> <td colspan="4" style="BORDER-LEFT:0.75pt solid #7fb8e6; BORDER-TOP:0.75pt solid #7fb8e6; BORDER-RIGHT:0.75pt solid #7fb8e6;height:3pt;"> </td> <td colspan="4" style="BORDER-TOP:0.75pt solid #7fb8e6;height:3pt;"> </td> <td colspan="4" style="BORDER-LEFT:0.75pt solid #7fb8e6; BORDER-TOP:0.75pt solid #7fb8e6; BORDER-RIGHT:0.75pt solid #7fb8e6;height:3pt;"> </td> </tr> <tr style="page-break-inside:avoid;font-family:arial;font-size:8pt"> <td style="vertical-align:top;"> </td> <td style=" BORDER-LEFT:0.75pt solid #7fb8e6;vertical-align:bottom;">    </td> <td colspan="2" style="padding-bottom:3pt ;vertical-align:bottom;white-space:nowrap;text-align:center;"><span style="font-weight:bold">1-Year</span></td> <td style=" BORDER-RIGHT:0.75pt solid #7fb8e6;vertical-align:bottom;"> </td> <td style="vertical-align:bottom;">    </td> <td colspan="2" style="padding-bottom:3pt ;vertical-align:bottom;white-space:nowrap;text-align:center;"><span style="font-weight:bold">5-Year</span></td> <td style="vertical-align:bottom;"> </td> <td style=" BORDER-LEFT:0.75pt solid #7fb8e6;vertical-align:bottom;">    </td> <td colspan="2" style="padding-bottom:3pt ;vertical-align:bottom;white-space:nowrap;text-align:center;"><span style="font-weight:bold">10-Year</span></td> <td style=" BORDER-RIGHT:0.75pt solid #7fb8e6; padding-right:2pt;vertical-align:bottom;"> </td> </tr> <tr style="font-size:1pt"> <td style="BORDER-LEFT:0.75pt solid #7fb8e6; BORDER-TOP:0.75pt solid #7fb8e6; padding-left:8pt;height:3pt;"> </td> <td colspan="4" style="BORDER-LEFT:0.75pt solid #7fb8e6; BORDER-TOP:0.75pt solid #7fb8e6; BORDER-RIGHT:0.75pt solid #7fb8e6;height:3pt;"> </td> <td colspan="4" style="BORDER-TOP:0.75pt solid #7fb8e6;height:3pt;"> </td> <td colspan="4" style="BORDER-LEFT:0.75pt solid #7fb8e6; BORDER-TOP:0.75pt solid #7fb8e6; BORDER-RIGHT:0.75pt solid #7fb8e6;height:3pt;"> </td> </tr> <tr style="page-break-inside:avoid;font-family:arial;font-size:8pt"> <td style="padding-bottom:3pt ;BORDER-LEFT:0.75pt solid #7fb8e6; padding-left:8pt;vertical-align:top;"> <div style="margin-top:0pt;margin-bottom:0pt;margin-left:1.00em;text-indent:-1.00em;font-size:8pt;font-family:arial;">Class I Shares at NAV</div></td> <td style=" BORDER-LEFT:0.75pt solid #7fb8e6;vertical-align:bottom;">    </td> <td style="padding-bottom:3pt ;white-space:nowrap;vertical-align:bottom;"> </td> <td style="padding-bottom:3pt ;white-space:nowrap;vertical-align:bottom;text-align:right;">8.17</td> <td style="padding-bottom:3pt ;BORDER-RIGHT:0.75pt solid #7fb8e6;white-space:nowrap;vertical-align:bottom;">% </td> <td style="vertical-align:bottom;">    </td> <td style="padding-bottom:3pt ;white-space:nowrap;vertical-align:bottom;"> </td> <td style="padding-bottom:3pt ;white-space:nowrap;vertical-align:bottom;text-align:right;">1.16</td> <td style="padding-bottom:3pt ;white-space:nowrap;vertical-align:bottom;">% </td> <td style=" BORDER-LEFT:0.75pt solid #7fb8e6;vertical-align:bottom;">    </td> <td style="padding-bottom:3pt ;white-space:nowrap;vertical-align:bottom;"> </td> <td style="padding-bottom:3pt ;white-space:nowrap;vertical-align:bottom;text-align:right;">2.27</td> <td style="padding-bottom:3pt ;BORDER-RIGHT:0.75pt solid #7fb8e6; padding-right:2pt;white-space:nowrap;vertical-align:bottom;">% </td> </tr> <tr style="font-size:1pt"> <td style="BORDER-LEFT:0.75pt solid #7fb8e6; BORDER-TOP:0.75pt solid #7fb8e6; padding-left:8pt;height:3pt;"> </td> <td colspan="4" style="BORDER-LEFT:0.75pt solid #7fb8e6; BORDER-TOP:0.75pt solid #7fb8e6; BORDER-RIGHT:0.75pt solid #7fb8e6;height:3pt;"> </td> <td colspan="4" style="BORDER-TOP:0.75pt solid #7fb8e6;height:3pt;"> </td> <td colspan="4" style="BORDER-LEFT:0.75pt solid #7fb8e6; BORDER-TOP:0.75pt solid #7fb8e6; BORDER-RIGHT:0.75pt solid #7fb8e6;height:3pt;"> </td> </tr> <tr style="page-break-inside:avoid;font-family:arial;font-size:8pt"> <td style="padding-bottom:3pt ;BORDER-LEFT:0.75pt solid #7fb8e6; padding-left:8pt;vertical-align:top;"> <div style="margin-top:0pt;margin-bottom:0pt;margin-left:1.00em;text-indent:-1.00em;font-size:8pt;font-family:arial;">S&amp;P Municipal Bond Index</div></td> <td style=" BORDER-LEFT:0.75pt solid #7fb8e6;vertical-align:bottom;">    </td> <td style="padding-bottom:3pt ;white-space:nowrap;vertical-align:bottom;"> </td> <td style="padding-bottom:3pt ;white-space:nowrap;vertical-align:bottom;text-align:right;">6.57</td> <td style="padding-bottom:3pt ;BORDER-RIGHT:0.75pt solid #7fb8e6;white-space:nowrap;vertical-align:bottom;">% </td> <td style="vertical-align:bottom;">    </td> <td style="padding-bottom:3pt ;white-space:nowrap;vertical-align:bottom;"> </td> <td style="padding-bottom:3pt ;white-space:nowrap;vertical-align:bottom;text-align:right;">1.14</td> <td style="padding-bottom:3pt ;white-space:nowrap;vertical-align:bottom;">% </td> <td style=" BORDER-LEFT:0.75pt solid #7fb8e6;vertical-align:bottom;">    </td> <td style="padding-bottom:3pt ;white-space:nowrap;vertical-align:bottom;"> </td> <td style="padding-bottom:3pt ;white-space:nowrap;vertical-align:bottom;text-align:right;">2.30</td> <td style="padding-bottom:3pt ;BORDER-RIGHT:0.75pt solid #7fb8e6; padding-right:2pt;white-space:nowrap;vertical-align:bottom;">% </td> </tr> <tr style="font-size:1pt"> <td style="BORDER-LEFT:0.75pt solid #7fb8e6; BORDER-TOP:0.75pt solid #7fb8e6; padding-left:8pt;height:3pt;"> </td> <td colspan="4" style="BORDER-LEFT:0.75pt solid #7fb8e6; BORDER-TOP:0.75pt solid #7fb8e6; BORDER-RIGHT:0.75pt solid #7fb8e6;height:3pt;"> </td> <td colspan="4" style="BORDER-TOP:0.75pt solid #7fb8e6;height:3pt;"> </td> <td colspan="4" style="BORDER-LEFT:0.75pt solid #7fb8e6; BORDER-TOP:0.75pt solid #7fb8e6; BORDER-RIGHT:0.75pt solid #7fb8e6;height:3pt;"> </td> </tr> <tr style="page-break-inside:avoid;font-family:arial;font-size:8pt"> <td style="padding-bottom:3pt ;BORDER-LEFT:0.75pt solid #7fb8e6; padding-left:8pt;vertical-align:top;"> <div style="margin-top:0pt;margin-bottom:0pt;margin-left:1.00em;text-indent:-1.00em;font-size:8pt;font-family:arial;">S&amp;P Municipal Bond Wisconsin Index</div></td> <td style=" BORDER-LEFT:0.75pt solid #7fb8e6;vertical-align:bottom;">    </td> <td style="padding-bottom:3pt ;white-space:nowrap;vertical-align:bottom;"> </td> <td style="padding-bottom:3pt ;white-space:nowrap;vertical-align:bottom;text-align:right;">6.74</td> <td style="padding-bottom:3pt ;BORDER-RIGHT:0.75pt solid #7fb8e6;white-space:nowrap;vertical-align:bottom;">% </td> <td style="vertical-align:bottom;">    </td> <td style="padding-bottom:3pt ;white-space:nowrap;vertical-align:bottom;"> </td> <td style="padding-bottom:3pt ;white-space:nowrap;vertical-align:bottom;text-align:right;">1.45</td> <td style="padding-bottom:3pt ;white-space:nowrap;vertical-align:bottom;">% </td> <td style=" BORDER-LEFT:0.75pt solid #7fb8e6;vertical-align:bottom;">    </td> <td style="padding-bottom:3pt ;white-space:nowrap;vertical-align:bottom;"> </td> <td style="padding-bottom:3pt ;white-space:nowrap;vertical-align:bottom;text-align:right;">2.42</td> <td style="padding-bottom:3pt ;BORDER-RIGHT:0.75pt solid #7fb8e6; padding-right:2pt;white-space:nowrap;vertical-align:bottom;">% </td> </tr> <tr style="font-size:1pt"> <td style="BORDER-LEFT:0.75pt solid #7fb8e6; BORDER-TOP:0.75pt solid #7fb8e6; padding-left:8pt;height:3pt;"> </td> <td colspan="4" style="BORDER-LEFT:0.75pt solid #7fb8e6; BORDER-TOP:0.75pt solid #7fb8e6; BORDER-RIGHT:0.75pt solid #7fb8e6;height:3pt;"> </td> <td colspan="4" style="BORDER-TOP:0.75pt solid #7fb8e6;height:3pt;"> </td> <td colspan="4" style="BORDER-LEFT:0.75pt solid #7fb8e6; BORDER-TOP:0.75pt solid #7fb8e6; BORDER-RIGHT:0.75pt solid #7fb8e6;height:3pt;"> </td> </tr> <tr style="page-break-inside:avoid;font-family:arial;font-size:8pt"> <td style="padding-bottom:3pt ;BORDER-LEFT:0.75pt solid #7fb8e6; BORDER-BOTTOM:0.75pt solid #7fb8e6; padding-left:8pt;vertical-align:top;"> <div style="margin-top:0pt;margin-bottom:0pt;margin-left:1.00em;text-indent:-1.00em;font-size:8pt;font-family:arial;">Lipper Other States Municipal Debt Funds Classification Average</div></td> <td style=" BORDER-LEFT:0.75pt solid #7fb8e6; BORDER-BOTTOM:0.75pt solid #7fb8e6;vertical-align:bottom;">    </td> <td style="padding-bottom:3pt ;BORDER-BOTTOM:0.75pt solid #7fb8e6;white-space:nowrap;vertical-align:bottom;"> </td> <td style="padding-bottom:3pt ;BORDER-BOTTOM:0.75pt solid #7fb8e6;white-space:nowrap;vertical-align:bottom;text-align:right;">7.08</td> <td style="padding-bottom:3pt ;BORDER-RIGHT:0.75pt solid #7fb8e6; BORDER-BOTTOM:0.75pt solid #7fb8e6;white-space:nowrap;vertical-align:bottom;">% </td> <td style=" BORDER-BOTTOM:0.75pt solid #7fb8e6;vertical-align:bottom;">    </td> <td style="padding-bottom:3pt ;BORDER-BOTTOM:0.75pt solid #7fb8e6;white-space:nowrap;vertical-align:bottom;"> </td> <td style="padding-bottom:3pt ;BORDER-BOTTOM:0.75pt solid #7fb8e6;white-space:nowrap;vertical-align:bottom;text-align:right;">0.43</td> <td style="padding-bottom:3pt ;BORDER-BOTTOM:0.75pt solid #7fb8e6;white-space:nowrap;vertical-align:bottom;">% </td> <td style=" BORDER-LEFT:0.75pt solid #7fb8e6; BORDER-BOTTOM:0.75pt solid #7fb8e6;vertical-align:bottom;">    </td> <td style="padding-bottom:3pt ;BORDER-BOTTOM:0.75pt solid #7fb8e6;white-space:nowrap;vertical-align:bottom;"> </td> <td style="padding-bottom:3pt ;BORDER-BOTTOM:0.75pt solid #7fb8e6;white-space:nowrap;vertical-align:bottom;text-align:right;">1.54</td> <td style="padding-bottom:3pt ;BORDER-RIGHT:0.75pt solid #7fb8e6; BORDER-BOTTOM:0.75pt solid #7fb8e6; padding-right:2pt;white-space:nowrap;vertical-align:bottom;">% </td> </tr> </table> Class I Shares at NAV 0.0817 0.0116 0.0227 S&P Municipal Bond Index 0.0657 0.0114 0.0230 S&P Municipal Bond Wisconsin Index 0.0674 0.0145 0.0242 Lipper Other States Municipal Debt Funds Classification Average 0.0708 0.0043 0.0154 For most recent month-end performance, go to https://www.nuveen.com/en-us/mutual-funds/prospectuses or call (800) 257‑8787. <div style="margin-top:0pt;margin-bottom:0pt;margin-left:2%;font-size:11pt;font-family:arial;"><span style="color:#0071ce"><span style="font-weight:bold">Fund Statistics (as of May 31, 2026) </span></span></div> <table cellpadding="0" cellspacing="0" style="border-collapse:collapse;font-family:arial;font-size:8pt;width:96%;border-spacing:0px;margin:0 auto"> <tr> <td style="width:87%;"></td> <td style="vertical-align:bottom;width:2%;"></td> <td></td> <td></td> <td style="vertical-align:bottom;width:2%;"></td> </tr> <tr style="font-size:1pt"> <td style="height:3pt;"></td> <td colspan="4" style="height:3pt;"></td> </tr> <tr style="page-break-inside:avoid;font-family:arial;font-size:8pt"> <td style="padding-bottom:3pt ;BORDER-BOTTOM:0.75pt solid #7fb8e6;vertical-align:top;"> <div style="margin-top:0pt;margin-bottom:0pt;margin-left:1.00em;text-indent:-1.00em;font-size:8pt;font-family:arial;">Fund net assets</div></td> <td style=" BORDER-BOTTOM:0.75pt solid #7fb8e6;vertical-align:bottom;">  </td> <td style="padding-bottom:3pt ;BORDER-BOTTOM:0.75pt solid #7fb8e6;white-space:nowrap;vertical-align:bottom;">$</td> <td style="padding-bottom:3pt ;BORDER-BOTTOM:0.75pt solid #7fb8e6;white-space:nowrap;vertical-align:bottom;text-align:right;">102,921,015</td> <td style="padding-bottom:3pt ;BORDER-BOTTOM:0.75pt solid #7fb8e6;white-space:nowrap;vertical-align:bottom;"> </td> </tr> <tr style="font-size:1pt"> <td style="height:3pt;"></td> <td colspan="4" style="height:3pt;"></td> </tr> <tr style="page-break-inside:avoid;font-family:arial;font-size:8pt"> <td style="padding-bottom:3pt ;BORDER-BOTTOM:0.75pt solid #7fb8e6;vertical-align:top;"> <div style="margin-top:0pt;margin-bottom:0pt;margin-left:1.00em;text-indent:-1.00em;font-size:8pt;font-family:arial;">Total number of portfolio holdings</div></td> <td style=" BORDER-BOTTOM:0.75pt solid #7fb8e6;vertical-align:bottom;">  </td> <td style="padding-bottom:3pt ;BORDER-BOTTOM:0.75pt solid #7fb8e6;white-space:nowrap;vertical-align:bottom;"> </td> <td style="padding-bottom:3pt ;BORDER-BOTTOM:0.75pt solid #7fb8e6;white-space:nowrap;vertical-align:bottom;text-align:right;">91</td> <td style="padding-bottom:3pt ;BORDER-BOTTOM:0.75pt solid #7fb8e6;white-space:nowrap;vertical-align:bottom;"> </td> </tr> <tr style="font-size:1pt"> <td style="height:3pt;"></td> <td colspan="4" style="height:3pt;"></td> </tr> <tr style="page-break-inside:avoid;font-family:arial;font-size:8pt"> <td style="padding-bottom:3pt ;BORDER-BOTTOM:0.75pt solid #7fb8e6;vertical-align:top;"> <div style="margin-top:0pt;margin-bottom:0pt;margin-left:1.00em;text-indent:-1.00em;font-size:8pt;font-family:arial;">Portfolio turnover (%)</div></td> <td style=" BORDER-BOTTOM:0.75pt solid #7fb8e6;vertical-align:bottom;">  </td> <td style="padding-bottom:3pt ;BORDER-BOTTOM:0.75pt solid #7fb8e6;white-space:nowrap;vertical-align:bottom;"> </td> <td style="padding-bottom:3pt ;BORDER-BOTTOM:0.75pt solid #7fb8e6;white-space:nowrap;vertical-align:bottom;text-align:right;">8%</td> <td style="padding-bottom:3pt ;BORDER-BOTTOM:0.75pt solid #7fb8e6;white-space:nowrap;vertical-align:bottom;"> </td> </tr> <tr style="font-size:1pt"> <td style="height:3pt;"></td> <td colspan="4" style="height:3pt;"></td> </tr> <tr style="page-break-inside:avoid;font-family:arial;font-size:8pt"> <td style="padding-bottom:3pt ;BORDER-BOTTOM:0.75pt solid #7fb8e6;vertical-align:top;"> <div style="margin-top:0pt;margin-bottom:0pt;margin-left:1.00em;text-indent:-1.00em;font-size:8pt;font-family:arial;">Total management fees paid for the year</div></td> <td style=" BORDER-BOTTOM:0.75pt solid #7fb8e6;vertical-align:bottom;">  </td> <td style="padding-bottom:3pt ;BORDER-BOTTOM:0.75pt solid #7fb8e6;white-space:nowrap;vertical-align:bottom;">$</td> <td style="padding-bottom:3pt ;BORDER-BOTTOM:0.75pt solid #7fb8e6;white-space:nowrap;vertical-align:bottom;text-align:right;">413,794</td> <td style="padding-bottom:3pt ;BORDER-BOTTOM:0.75pt solid #7fb8e6;white-space:nowrap;vertical-align:bottom;"> </td> </tr> </table> 102921015 91 0.08 413794 <table cellpadding="0" cellspacing="0" style="border-collapse:collapse;font-family:arial;font-size:9pt;width:100%;border-spacing:0px;margin:0 auto"> <tr> <td style="width:50%;"></td> <td style="vertical-align:bottom;width:1%;"></td> <td style="width:49%;"></td> </tr> <tr style="page-break-inside:avoid;font-family:arial;font-size:9pt"> <td style="vertical-align:top;"> <div style="margin-top:0pt;margin-bottom:0pt;margin-left:1.11em;margin-right:1.11em;"> <img alt="LOGO" src="g133061g39o06.jpg"/> </div></td> <td style="vertical-align:bottom;"> </td> <td style="vertical-align:top;"> <div style="margin-top:0pt;margin-bottom:0pt;margin-left:1.11em;margin-right:1.11em;"> <img alt="LOGO" src="g133061g97l11.jpg"/> </div></td> </tr> </table> <table cellpadding="0" cellspacing="0" style="border-collapse:collapse;font-family:arial;font-size:8pt;border-spacing:0px;width:100%"> <tr style="page-break-inside:avoid"> <td style="width:1%;"> </td> <td style="width:4%;vertical-align:top;text-align:left;">(1)</td> <td style="vertical-align:top;text-align:left;"> <div style="margin-top:0pt;margin-bottom:0pt;font-size:8pt;font-family:arial;text-align:left;">Affiliated investment. </div></td> </tr></table> <table cellpadding="0" cellspacing="0" style="border-collapse:collapse;font-family:arial;font-size:8pt;border-spacing:0px;width:100%"> <tr style="page-break-inside:avoid"> <td style="width:1%;"> </td> <td style="width:4%;vertical-align:top;text-align:left;">(2)</td> <td style="vertical-align:top;text-align:left;"> <div style="margin-top:0pt;margin-bottom:0pt;font-size:8pt;font-family:arial;text-align:left;">The ratings disclosed are the highest rating given by one of the following national rating agencies: Standard &amp; Poor’s (S&amp;P), Moody’s Investors Service, Inc. (Moody’s) or Fitch, Inc (Fitch). This treatment of split-rated securities may differ from that used for other purposes, such as for Fund investment policies. Credit ratings are subject to change. AAA, AA, A, and BBB are investment grade ratings; BB, B, CCC, CC, C and D are below-investment grade ratings. Holdings designated N/R are not rated by these national ratings agencies. </div></td> </tr></table> <table cellpadding="0" cellspacing="0" style="border-collapse:collapse;font-family:arial;font-size:8pt;border-spacing:0px;width:100%"> <tr style="page-break-inside:avoid"> <td style="width:1%;"> </td> <td style="width:4%;vertical-align:top;text-align:left;">(3)</td> <td style="vertical-align:top;text-align:left;"> <div style="margin-top:0pt;margin-bottom:0pt;font-size:8pt;font-family:arial;text-align:left;">Total investments include the Fund’s assets attributable to financial leverage. For these purposes, financial leverage includes the Fund’s investments in the residual interest certificates (also called inverse floating rate securities) in tender option bond (TOB) trusts, including the portion of assets held by a TOB trust that has been effectively financed by the trust’s issuance of floating rate securities. </div></td> </tr></table> The ratings disclosed are the highest rating given by one of the following national rating agencies: Standard &amp; Poor’s (S&amp;P), Moody’s Investors Service, Inc. (Moody’s) or Fitch, Inc (Fitch). This treatment of split-rated securities may differ from that used for other purposes, such as for Fund investment policies. Credit ratings are subject to change. AAA, AA, A, and BBB are investment grade ratings; BB, B, CCC, CC, C and D are below-investment grade ratings. Holdings designated N/R are not rated by these national ratings agencies. Total investments include the Fund’s assets attributable to financial leverage. For these purposes, financial leverage includes the Fund’s investments in the residual interest certificates (also called inverse floating rate securities) in tender option bond (TOB) trusts, including the portion of assets held by a TOB trust that has been effectively financed by the trust’s issuance of floating rate securities. <div style="margin-top:0pt;margin-bottom:0pt;margin-left:2%;font-size:11pt;font-family:arial;"><span style="color:#0071ce"><span style="font-weight:bold">How has the Fund changed? </span></span></div><div style="margin-top:6pt;margin-bottom:0pt;margin-left:2%;font-size:9pt;font-family:arial;font-weight:bold;">For more complete information, you may review the Fund’s next prospectus, which is expected to be available by September 30, 2026 at https://www.nuveen.com/en-us/mutual-funds/prospectuses or upon request at (800) 257-8787. </div> <div style="margin-top:6pt;margin-bottom:0pt;margin-left:2%;font-size:9pt;font-family:arial;font-weight:bold;">For more complete information, you may review the Fund’s next prospectus, which is expected to be available by September 30, 2026 at https://www.nuveen.com/en-us/mutual-funds/prospectuses or upon request at (800) 257-8787. </div> https://www.nuveen.com/en-us/mutual-funds/prospectuses (800) 257-8787 The ratings disclosed are the highest rating given by one of the following national rating agencies: Standard & Poor’s (S&P), Moody’s Investors Service, Inc. (Moody’s) or Fitch, Inc (Fitch). This treatment of split-rated securities may differ from that used for other purposes, such as for Fund investment policies. Credit ratings are subject to change. AAA, AA, A, and BBB are investment grade ratings; BB, B, CCC, CC, C and D are below-investment grade ratings. Holdings designated N/R are not rated by these national ratings agencies. The ratings disclosed are the highest rating given by one of the following national rating agencies: Standard & Poor’s (S&P), Moody’s Investors Service, Inc. (Moody’s) or Fitch, Inc (Fitch). This treatment of split-rated securities may differ from that used for other purposes, such as for Fund investment policies. Credit ratings are subject to change. AAA, AA, A, and BBB are investment grade ratings; BB, B, CCC, CC, C and D are below-investment grade ratings. Holdings designated N/R are not rated by these national ratings agencies. The ratings disclosed are the highest rating given by one of the following national rating agencies: Standard & Poor’s (S&P), Moody’s Investors Service, Inc. (Moody’s) or Fitch, Inc (Fitch). This treatment of split-rated securities may differ from that used for other purposes, such as for Fund investment policies. Credit ratings are subject to change. AAA, AA, A, and BBB are investment grade ratings; BB, B, CCC, CC, C and D are below-investment grade ratings. Holdings designated N/R are not rated by these national ratings agencies. The ratings disclosed are the highest rating given by one of the following national rating agencies: Standard & Poor’s (S&P), Moody’s Investors Service, Inc. (Moody’s) or Fitch, Inc (Fitch). This treatment of split-rated securities may differ from that used for other purposes, such as for Fund investment policies. Credit ratings are subject to change. AAA, AA, A, and BBB are investment grade ratings; BB, B, CCC, CC, C and D are below-investment grade ratings. Holdings designated N/R are not rated by these national ratings agencies. The ratings disclosed are the highest rating given by one of the following national rating agencies: Standard & Poor’s (S&P), Moody’s Investors Service, Inc. (Moody’s) or Fitch, Inc (Fitch). This treatment of split-rated securities may differ from that used for other purposes, such as for Fund investment policies. Credit ratings are subject to change. AAA, AA, A, and BBB are investment grade ratings; BB, B, CCC, CC, C and D are below-investment grade ratings. Holdings designated N/R are not rated by these national ratings agencies. Annualized for period less than one year. The ratings disclosed are the highest rating given by one of the following national rating agencies: Standard & Poor’s (S&P), Moody’s Investors Service, Inc. (Moody’s) or Fitch, Inc (Fitch). This treatment of split-rated securities may differ from that used for other purposes, such as for Fund investment policies. Credit ratings are subject to change. AAA, AA, A, and BBB are investment grade ratings; BB, B, CCC, CC, C and D are below-investment grade ratings. Holdings designated N/R are not rated by these national ratings agencies. Annualized for period less than one year. The ratings disclosed are the highest rating given by one of the following national rating agencies: Standard & Poor’s (S&P), Moody’s Investors Service, Inc. (Moody’s) or Fitch, Inc (Fitch). This treatment of split-rated securities may differ from that used for other purposes, such as for Fund investment policies. Credit ratings are subject to change. AAA, AA, A, and BBB are investment grade ratings; BB, B, CCC, CC, C and D are below-investment grade ratings. Holdings designated N/R are not rated by these national ratings agencies. Annualized for period less than one year. Annualized for period less than one year. The ratings disclosed are the highest rating given by one of the following national rating agencies: Standard & Poor’s (S&P), Moody’s Investors Service, Inc. (Moody’s) or Fitch, Inc (Fitch). This treatment of split-rated securities may differ from that used for other purposes, such as for Fund investment policies. Credit ratings are subject to change. AAA, AA, A, and BBB are investment grade ratings; BB, B, CCC, CC, C and D are below-investment grade ratings. Holdings designated N/R are not rated by these national ratings agencies. Annualized for period less than one year. The ratings disclosed are the highest rating given by one of the following national rating agencies: Standard & Poor’s (S&P), Moody’s Investors Service, Inc. (Moody’s) or Fitch, Inc (Fitch). This treatment of split-rated securities may differ from that used for other purposes, such as for Fund investment policies. Credit ratings are subject to change. AAA, AA, A, and BBB are investment grade ratings; BB, B, CCC, CC, C and D are below-investment grade ratings. Holdings designated N/R are not rated by these national ratings agencies. Total investments include the Fund’s assets attributable to financial leverage. For these purposes, financial leverage includes the Fund’s investments in the residual interest certificates (also called inverse floating rate securities) in tender option bond (TOB) trusts, including the portion of assets held by a TOB trust that has been effectively financed by the trust’s issuance of floating rate securities. The ratings disclosed are the highest rating given by one of the following national rating agencies: Standard & Poor’s (S&P), Moody’s Investors Service, Inc. (Moody’s) or Fitch, Inc (Fitch). This treatment of split-rated securities may differ from that used for other purposes, such as for Fund investment policies. Credit ratings are subject to change. AAA, AA, A, and BBB are investment grade ratings; BB, B, CCC, CC, C and D are below-investment grade ratings. Holdings designated N/R are not rated by these national ratings agencies. Annualized for period less than one year. Annualized for period less than one year. Annualized for period less than one year. The ratings disclosed are the highest rating given by one of the following national rating agencies: Standard & Poor’s (S&P), Moody’s Investors Service, Inc. (Moody’s) or Fitch, Inc (Fitch). This treatment of split-rated securities may differ from that used for other purposes, such as for Fund investment policies. Credit ratings are subject to change. AAA, AA, A, and BBB are investment grade ratings; BB, B, CCC, CC, C and D are below-investment grade ratings. Holdings designated N/R are not rated by these national ratings agencies. Annualized for period less than one year. Annualized for period less than one year. Annualized for period less than one year. Annualized for period less than one year. Annualized for period less than one year. The ratings disclosed are the highest rating given by one of the following national rating agencies: Standard & Poor’s (S&P), Moody’s Investors Service, Inc. (Moody’s) or Fitch, Inc (Fitch). This treatment of split-rated securities may differ from that used for other purposes, such as for Fund investment policies. Credit ratings are subject to change. AAA, AA, A, and BBB are investment grade ratings; BB, B, CCC, CC, C and D are below-investment grade ratings. Holdings designated N/R are not rated by these national ratings agencies. Total investments include the Fund’s assets attributable to financial leverage. For these purposes, financial leverage includes the Fund’s investments in the residual interest certificates (also called inverse floating rate securities) in tender option bond (TOB) trusts, including the portion of assets held by a TOB trust that has been effectively financed by the trust’s issuance of floating rate securities. Annualized for period less than one year. The ratings disclosed are the highest rating given by one of the following national rating agencies: Standard & Poor’s (S&P), Moody’s Investors Service, Inc. (Moody’s) or Fitch, Inc (Fitch). This treatment of split-rated securities may differ from that used for other purposes, such as for Fund investment policies. Credit ratings are subject to change. AAA, AA, A, and BBB are investment grade ratings; BB, B, CCC, CC, C and D are below-investment grade ratings. Holdings designated N/R are not rated by these national ratings agencies. Total investments include the Fund’s assets attributable to financial leverage. For these purposes, financial leverage includes the Fund’s investments in the residual interest certificates (also called inverse floating rate securities) in tender option bond (TOB) trusts, including the portion of assets held by a TOB trust that has been effectively financed by the trust’s issuance of floating rate securities. The ratings disclosed are the highest rating given by one of the following national rating agencies: Standard & Poor’s (S&P), Moody’s Investors Service, Inc. (Moody’s) or Fitch, Inc (Fitch). This treatment of split-rated securities may differ from that used for other purposes, such as for Fund investment policies. Credit ratings are subject to change. AAA, AA, A, and BBB are investment grade ratings; BB, B, CCC, CC, C and D are below-investment grade ratings. Holdings designated N/R are not rated by these national ratings agencies. Total investments include the Fund’s assets attributable to financial leverage. For these purposes, financial leverage includes the Fund’s investments in the residual interest certificates (also called inverse floating rate securities) in tender option bond (TOB) trusts, including the portion of assets held by a TOB trust that has been effectively financed by the trust’s issuance of floating rate securities. The ratings disclosed are the highest rating given by one of the following national rating agencies: Standard & Poor’s (S&P), Moody’s Investors Service, Inc. (Moody’s) or Fitch, Inc (Fitch). This treatment of split-rated securities may differ from that used for other purposes, such as for Fund investment policies. Credit ratings are subject to change. AAA, AA, A, and BBB are investment grade ratings; BB, B, CCC, CC, C and D are below-investment grade ratings. Holdings designated N/R are not rated by these national ratings agencies. Annualized for period less than one year. The ratings disclosed are the highest rating given by one of the following national rating agencies: Standard & Poor’s (S&P), Moody’s Investors Service, Inc. (Moody’s) or Fitch, Inc (Fitch). This treatment of split-rated securities may differ from that used for other purposes, such as for Fund investment policies. Credit ratings are subject to change. AAA, AA, A, and BBB are investment grade ratings; BB, B, CCC, CC, C and D are below-investment grade ratings. Holdings designated N/R are not rated by these national ratings agencies. The ratings disclosed are the highest rating given by one of the following national rating agencies: Standard & Poor’s (S&P), Moody’s Investors Service, Inc. (Moody’s) or Fitch, Inc (Fitch). This treatment of split-rated securities may differ from that used for other purposes, such as for Fund investment policies. Credit ratings are subject to change. AAA, AA, A, and BBB are investment grade ratings; BB, B, CCC, CC, C and D are below-investment grade ratings. Holdings designated N/R are not rated by these national ratings agencies. Total investments include the Fund’s assets attributable to financial leverage. For these purposes, financial leverage includes the Fund’s investments in the residual interest certificates (also called inverse floating rate securities) in tender option bond (TOB) trusts, including the portion of assets held by a TOB trust that has been effectively financed by the trust’s issuance of floating rate securities. Annualized for period less than one year. Affiliated investment. Annualized for period less than one year. Affiliated investment. The ratings disclosed are the highest rating given by one of the following national rating agencies: Standard & Poor’s (S&P), Moody’s Investors Service, Inc. (Moody’s) or Fitch, Inc (Fitch). This treatment of split-rated securities may differ from that used for other purposes, such as for Fund investment policies. Credit ratings are subject to change. AAA, AA, A, and BBB are investment grade ratings; BB, B, CCC, CC, C and D are below-investment grade ratings. Holdings designated N/R are not rated by these national ratings agencies. Total investments include the Fund’s assets attributable to financial leverage. For these purposes, financial leverage includes the Fund’s investments in the residual interest certificates (also called inverse floating rate securities) in tender option bond (TOB) trusts, including the portion of assets held by a TOB trust that has been effectively financed by the trust’s issuance of floating rate securities. Affiliated investment. Annualized for period less than one year.