The Board of Trustees of Reaves Utility Income Fund have appointed Jill Kerschen, Christopher Moore, and Bradley Swenson to serve as Treasurer, Secretary, and Chief Compliance Officer, respectively, of the Fund effective as of September 19, 2022. Each officer appointed are employees of Paralel and/or its affiliates. The Paralel officer appointments were made in connection with the resignations of Jennell Panell, Sareena Khwaja-Dixon, and Ted Uhl, the Fund's prior Treasurer, Secretary, and Chief Compliance Officer, respectively, that were tendered in connection to the termination of ALPS as the Fund's administrator.

Ms. Kerschen, born in 1975, joined Paralel in 2021 and currently serves as Director of Fund Administration. Prior to joining Paralel, Ms. Kerschen was Vice President at ALPS Advisors Inc. from 2019 to 2021, and served as Vice President and Fund Controller at ALPS Fund Services Inc. from 2013 to 2019. Ms. Kerschen also has served as the Treasurer and Vice President of the SRH Total Return Fund Inc. since 2021.

Mr. Moore, born in 1984, serves as the General Counsel and Chief Compliance Officer of Paralel and Paralel Advisors LLC, and General Counsel of Paralel Distributors since 2021. Mr. Moore served as Deputy General Counsel and Legal Operations Manager of RiverNorth Capital Management, LLC from 2020 to 2021; VP and Senior Counsel of ALPS Fund Services Inc. from 2016 to 2020; and associate at Thompson Hine LLP from 2013 to 2016. Mr. Moore previously obtained his CPA at Ernst & Young from 2007 to 2009.

Mr. Moore also has served as the Secretary, Chief Compliance Officer and Vice President of the SRH Total Return Fund Inc. since 2021. Mr. Swenson, born in 1972, serves as Director of Compliance Services of Paralel, and President and Chief Compliance Officer of Paralel Distributors since 2022. Mr. Swenson also served as President of TruePeak Consulting, LLC from 2021 to present; and President from 2019 to 2021 and Chief Operating Officer from 2015 to 2021 of ALPS and ADI, respectively.

Mr. Swenson also has served as the Chief Compliance Officer of Cullen Funds Trust since 2022.