Moody's Investors Service ("Moody's") has completed a periodic review of the ratings of GAMCO Natural Resources, Gold & Income Trust and other ratings that are associated with the same analytical unit. The review was conducted through a portfolio review in which Moody's reassessed the appropriateness of the ratings in the context of the relevant principal methodology(ies), recent developments, and a comparison of the financial and operating profile to similarly rated peers. This publication does not announce a credit rating action and is not an indication of whether or not a credit rating action is likely in the near future.

The Board of Trustees of GAMCO Natural Resources, Gold & Income Trust (NYSE:GNT) (the "Fund") approved the continuation of its policy of paying monthly cash distributions. The Board of Trustees has declared cash distributions of $0.03 per share for each of July, August, and September 2020. This equates to an expected total annual 2020 distribution of $0.48 per common share. Based on current dynamics, the Fund may make distributions in excess of the Fund’s earnings. It is currently expected that distributions to common shareholders in 2020 will receive mostly a return of capital for tax purposes.