DWS Closed-End Funds Announce Results of Annual Meeting of Shareholders

NEW YORK–(COMMERCIAL THREAD) –DWS Municipal Income Trust (NYSE: KTF) and DWS Strategic Municipal Income Trust (NYSE: KSM) (each, a “Fund” and collectively the “Funds”) today announced the results of the 2021 Joint Annual Meeting of Shareholders of the Funds held on September 24, 2021.

For each of KTF and KSM, a quorum was present and the Class I Trustee nominees (Dr. Richard J. Herring and Mr. William N. Searcy, Jr.) and the Preferred Share Trustee nominees (Mr. Keith R. Fox and Ms. Dawn-Marie Driscoll) received a sufficient number of votes from common shareholders and preferred shareholders, voting together as one class, and preferred shareholders only, voting as a separate class, respectively, to be elected trustees.

For more information on the Funds, including their most recent month-end performance, visit dws.com or call (800) 349-4281.

Important information

DWS Municipal Income Trust. Bond investments are subject to varying degrees to interest rate, credit, liquidity and market risks. When interest rates rise, bond prices generally fall. Credit risk refers to the ability of an issuer to make timely payments of principal and interest. Municipal securities are subject to the risk that litigation, legislation or other political events, local business or economic conditions or the bankruptcy of the issuer could have a material effect on an issuer’s ability to make payments. principal and / or interest. The municipal bond market may be less liquid than the taxable bond market and there may be less information available on the financial condition of issuers of municipal securities than for public companies. Investing in derivatives involves specific liquidity, leverage and credit risks which may reduce returns and / or increase volatility. Leverage comes with additional risk and can magnify the effect of any gain or loss. Although the fund seeks income that is exempt from federal income tax, a portion of the fund’s distributions may be subject to federal, state and local taxes, including alternative minimum tax.

DWS Strategic Municipal Income Trust. Bond investments are subject to varying degrees to interest rate, credit, liquidity and market risks. When interest rates rise, bond prices generally fall. Credit risk refers to the ability of an issuer to make timely payments of principal and interest. Municipal securities are subject to the risk that litigation, legislation or other political events, local business or economic conditions or the bankruptcy of the issuer could have a material effect on an issuer’s ability to make payments. principal and / or interest. The municipal bond market may be less liquid than the taxable bond market and there may be less information available on the financial condition of issuers of municipal securities than for public companies. Investing in derivatives involves specific liquidity, leverage and credit risks which may reduce returns and / or increase volatility. Leverage comes with additional risk and can magnify the effect of any gain or loss. Although the fund seeks income that is exempt from federal income tax, a portion of the fund’s distributions may be subject to federal, state and local taxes, including alternative minimum tax.

Closed funds, unlike open funds, are not offered on a continuous basis. There is a one-time public offering and once issued, closed-end fund shares are bought and sold in the open market through an exchange. Closed-end fund stocks frequently trade for less than net asset value. The price of shares in a fund is determined by a number of factors, many of which are beyond the control of the fund. Therefore, the fund cannot predict whether its shares will trade at, below or above net asset value.

Past performance is no guarantee of future results.

This press release does not constitute an offer to sell or a solicitation to buy, and there will be no sale of such securities in any state or jurisdiction in which such an offer or solicitation or sale would be illegal prior to registration. or qualification under the laws of such state or jurisdiction.

War, terrorism, economic uncertainty, trade disputes, public health crises (including the recent pandemic spread of the novel coronavirus) and related geopolitical events could lead to increased market volatility, disruption to economies and markets. US and global markets and could have material adverse effects on the funds and their investments.

NOT FDIC / NCUA INSURED • MAY LOSE IN VALUE • NO BANK GUARANTEE

NOT A DEPT • NOT INSURED BY ANY FEDERAL GOVERNMENT AGENCY

DWS Distributors, Inc.

222 Place Riverside South

Chicago, IL 60606-5808

www.dws.com

Phone (800) 621-1148

© 2021 DWS Group GmbH & Co. KGaA. All rights reserved

The DWS brand represents DWS Group GmbH & Co. KGaA and one of its subsidiaries such as DWS Distributors, Inc. which offers investment products or DWS Investment Management Americas, Inc. and RREEF America LLC which offer advisory services. . (R-085542-1) (09/21/21)

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