AVK Advent Convertible and Income Fund

Advent Convertible and Income Fund (“AVK” or the “Fund”) today announced a supplemental distribution of $1.387385 per share. The distribution is estimated to be characterized entirely as long-term capital gain. A final determination of the tax character of distributions paid by the Fund in 2021 will be reported to shareholders in January 2022 on Form 1099-DIV.

Relevant dates pertaining to the supplemental distribution are as follows:

Record Date: December 23, 2021Ex-Dividend Date: December 22, 2021Payable Date: December 31, 2021

About Advent Capital ManagementAdvent Capital Management, LLC (“Advent”) is a registered investment advisor dedicated to providing its clients with superior investment performance and client service. Advent invests primarily in convertible, high yield and equity securities offered through long only, alternative and NYSE-listed closed-end fund strategies. Since inception in 1995, Advent has grown into an $11 billion globally diversified investment management firm (as of September 30, 2021), and the firm’s growing client base includes some of the most sophisticated public and corporate pension plans, insurance companies, foundations, endowments and high net worth individuals.

About Guggenheim Investments

Guggenheim Investments includes Guggenheim Funds Distributors, LLC (the servicing agent for AVK). Advent Capital Management, LLC serves as Investment Adviser for AVK and is not affiliated with Guggenheim.

There can be no assurance that the Fund will achieve its investment objective. Investments in the Fund involve operating expenses and fees. The net asset value of the Fund will fluctuate with the value of the underlying securities. It is important to note that closed-end funds trade on their market value, not net asset value, and closed-end funds often trade at a discount to their net asset value.

Past performance is not indicative of future performance. An investment in the Fund is subject to certain risks and other considerations. Such risks and considerations may include, but are not limited to: Investment and Market Risk; Convertible Securities Risk; Structured and Synthetic Convertible Securities Risk; Lower Grade Securities Risk; Equity Securities Risk; Preferred Securities Risk; Derivatives Risk; Interest Rate Risk; Leverage Risk; Anti-Takeover Provisions; Foreign Securities Risk; Foreign Currency Risk; Market Disruption Risk; Risk Associated with the Fund’s Covered Call Option Writing Strategy; Senior and Second Lien Secured Loan Risk and Illiquidity Risk. See www.guggenheiminvestments.com/cef for a detailed discussion of fund-specific risks.

Investors should consider the investment objectives and policies, risk considerations, charges and expenses of any investment before they invest. For this and more information, visit www.guggenheiminvestments.com or contact a securities representative or Guggenheim Funds Distributors, LLC at 227 West Monroe Street, Chicago, IL 60606, 800-345-7999.

Analyst InquiriesWilliam T. Korvercefs@guggenheiminvestments.com

NOT FDIC-INSURED | NOT BANK-GUARANTEED | MAY LOSE VALUEMember FINRA/SIPC (12/21) #50731