AFB · Alliancebernstein National Municipal Income Fund

The 3,531 preferred shares reported as disposed of in Table I represent 2018 Variable Rate MuniFund Term Preferred Shares (the "Preferred Shares") that were beneficially owned by Wells Fargo Municipal Capital Strategies, LLC ("Capital Strategies"). The Preferred Shares were disposed of as a result of a redemption by the Issuer for a redemption price of $25,068.69428 per share (which includes a liquidation preference of $25,000.00 per share and accrued dividends of $68.69428 per share). Capital Strategies is a wholly owned subsidiary of Wells Fargo & Company ("Wells Fargo").

This statement is jointly filed by Wells Fargo and Capital Strategies. Wells Fargo holds an indirect interest in the securities listed in Table I by virtue of its indirect ownership of its subsidiary Capital Strategies.

Each reporting person declares that neither the filing of this statement nor anything herein shall be construed as an admission that such person is, for the purposes of Section 13(d) of the US Securities Exchange Act of 1934 or any other purpose, (i) acting (or has agreed or is agreeing to act together with any other person) as a partnership, limited partnership, syndicate or other group for the purpose of acquiring, holding or disposing of securities of the Issuer or otherwise with respect to the Issuer or any securities of the Issuer or (ii) a member of any group with respect to the Issuer or any securities of the Issuer.

This statement is jointly filed by Bank of America Corporation, BAPFC and BofA Securities Inc. Each reporting person is currently analyzing additional trading activity and expect to file another Form 4 as promptly as reasonably practicable once that analysis is complete.

Bank of America Corporation held an indirect interest in the securities listed in Table I by virtue of its indirect ownership of its subsidiary BofA Securities Inc.

Each reporting person declares that neither the filing of this statement nor anything herein shall be construed as an admission that such person is, for the purposes of Section 13(d) of the US Securities Exchange Act of 1934 or any other purpose, (i) acting (or has agreed or is agreeing to act together with any other person) as a partnership, limited partnership, syndicate or other group for the purpose of acquiring, holding or disposing of securities of the Issuer or otherwise with respect to the Issuer or any securities of the Issuer or (ii) a member of any group with respect to the Issuer or any securities of the Issuer.

The 5,754 2019 VMTPS Variable Rate Muni Term Preferred Shares ("VMTP Shares") (CUSIP No. 46132H601) reported as disposed of in Table I represent shares that were beneficially owned by Banc of America Preferred Funding Corporation ("BAPFC"). The 5,754 VMTP Shares held by BAPFC were redeemed by the Issuer on June 06, 2024, as described in the Notice of Intention to Redeem Securities, N-23C-2, filed by AllianceBernstein National Municipal Income Fund. Inc with the SEC on May 15, 2024, for a redemption price of $25,014.5833003128259 per share (which includes a liquidation preference of $25,000.00 per share and final accumulated but unpaid dividends of $14.5833003128259 per share). BAPFC is a wholly owned subsidiary of Bank of America Corporation.

This statement is jointly filed by Bank of America Corporation, BAPFC and BofA Securities Inc. Each reporting person is currently analyzing additional trading activity and expect to file another Form 4 as promptly as reasonably practicable once that analysis is complete.

Bank of America Corporation held an indirect interest in the securities listed in Table I by virtue of its indirect ownership of its subsidiary BAPFC.

Each reporting person declares that neither the filing of this statement nor anything herein shall be construed as an admission that such person is, for the purposes of Section 13(d) of the US Securities Exchange Act of 1934 or any other purpose, (i) acting (or has agreed or is agreeing to act together with any other person) as a partnership, limited partnership, syndicate or other group for the purpose of acquiring, holding or disposing of securities of the Issuer or otherwise with respect to the Issuer or any securities of the Issuer or (ii) a member of any group with respect to the Issuer or any securities of the Issuer.

This statement is jointly filed by Bank of America Corporation, BAPFC and BofA Securities Inc. Each reporting person is currently analyzing additional trading activity and expect to file another Form 4 as promptly as reasonably practicable once that analysis is complete.

Bank of America Corporation held an indirect interest in the securities listed in Table I by virtue of its indirect ownership of its subsidiary BofA Securities Inc.

Each reporting person declares that neither the filing of this statement nor anything herein shall be construed as an admission that such person is, for the purposes of Section 13(d) of the US Securities Exchange Act of 1934 or any other purpose, (i) acting (or has agreed or is agreeing to act together with any other person) as a partnership, limited partnership, syndicate or other group for the purpose of acquiring, holding or disposing of securities of the Issuer or otherwise with respect to the Issuer or any securities of the Issuer or (ii) a member of any group with respect to the Issuer or any securities of the Issuer.

The variable rate munifund term preferred shares (the "VMTP Shares") shown reported as disposed of in Table I represent VMTP Shares (Series 2018) of the Issuer (CUSIP No. 01864U502) that were beneficially owned by Banc of America Preferred Funding Corporation ("PFC"). The VMTP Shares (Series 2018) were disposed of as a result of a transfer coordinated by the Issuer to a subsequent owner who is unaffiliated with PFC for a purchase price equal to $25,042.38356 per share (which includes a liquidation preference of $25,000 per share and accrued dividends of $42.383563 per share). PFC also owns 5,754 VMTP Shares (Series 2019) previously acquired and reported on prior to the date of this filing (CUSIP No. 01864U601). PFC is a wholly owned subsidiary of Bank of America Corporation.

This statement is jointly filed by BAC and PFC. BAC held an indirect interest in the securities listed in Table I by virtue of its indirect ownership of PFC.

Each reporting person declares that neither the filing of this statement nor anything herein shall be construed as an admission that such person is, for the purposes of Section 13(d) of the US Securities Exchange Act of 1934 or any other purpose, (i) acting (or has agreed or is agreeing to act together with any other person) as a partnership, limited partnership, syndicate or other group for the purpose of acquiring, holding or disposing of securities of the Issuer or otherwise with respect to the Issuer or any securities of the Issuer or (ii) a member of any group with respect to the Issuer or any securities of the Issuer.

This constitutes the weighted average purchase price. The prices range from $14.24 to $14.25. The Reporting Person will provide upon request by the Securities and Exchange Commission staff, the issuer, or a security holder of the issuer, full information regarding the number of shares purchased at each separate price.