BNY Mellon Investment Adviser, Inc. Announces Closing of Reorganization of BNY Mellon Municipal Income, Inc. With and Into a BNY Mellon Municipal Open-end Fund

NEW YORK--(BUSINESS WIRE)-- BNY Mellon Investment Adviser, Inc. announced today the completion of the reorganization of BNY Mellon Municipal Income, Inc. (the "Fund"), a registered closed-end fund, with and into BNY Mellon AMT-Free Municipal Bond Fund (the "Acquiring Fund"), a series of BNY Mellon Municipal Funds, Inc., a registered open-end fund, effective as of the close of business on Friday, June 20, 2025. As previously announced, Fund stockholders approved the reorganization at a Special Meeting of Stockholders held on June 2, 2025.

Accordingly, common stockholders that were remaining in the Fund as of the market close on Tuesday, June 17, 2025 are now shareholders of the Acquiring Fund having received Class A shares of the Acquiring Fund in an amount equal in value to the aggregate net asset value of their holdings of the Fund's common stock as determined as of the close of business on June 20, 2025. Fractional shares of Acquiring Fund common stock were not issued in the reorganization and consequently cash will be distributed for any such fractional shares.

Relevant details pertaining to the reorganization, as of the close of business on June 20, 2025, are as follows:

Fund	Ticker	Net Asset Value/Share ($)	Share Conversion Ratio
BNY Mellon Municipal Income, Inc.	DMF	$6.98	0.540666150
BNY Mellon AMT-Free Municipal Bond Fund – Class A Shares	DMUAX	$12.91	N/A

Important Information

BNY Mellon Investment Adviser, Inc., the investment adviser for the Fund and the Acquiring Fund, is part of BNY Investments, one of the world's largest asset managers, managing over $2 trillion across a range of traditional and alternative assets through seven specialist investment firms — ARX Investimentos, Dreyfus, Insight Investment, Mellon Investments Corporation, Newton Investment Management, Siguler Guff & Company, and Walter Scott & Partners. BNY Investments is part of BNY, a global financial services company that helps make money work for the world – managing it, moving it and keeping it safe. For more than 240 years BNY has partnered alongside clients, putting its expertise and platforms to work to help them achieve their ambitions. Today BNY helps over 90% of Fortune 100 companies and nearly all the top 100 banks globally to access the money they need. BNY supports governments in funding local projects and works with over 90% of the top 100 pension plans to safeguard investments for millions of individuals, and so much more. As of March 31, 2025, BNY oversees $53.1 trillion in assets under custody and/or administration. Additional information is available on www.bny.com. Follow on LinkedIn or visit the BNY Newsroom for the latest company news.

Closed-end funds generally are traded on the secondary market through one of the stock exchanges. The Fund's investment returns and principal values will fluctuate so that an investor's shares may be worth more or less than the original cost. Shares of closed-end funds may trade above (a premium) or below (a discount) the net asset value of the Fund's portfolio. There is no assurance that the Fund will achieve its investment objective.

This release is for informational purposes only and should not be considered as investment advice or a recommendation of any particular security. This release is not intended to, and shall not, constitute an offer to purchase or sell shares of any of the BNY Funds, including the Fund or the Acquiring Fund.

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For Press Inquiries:

BNY Mellon Investment Adviser, Inc.

Jessica Greaney

jessica.greaney@bny.com



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BNY Mellon Securities Corporation

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New York, New York 10286

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Source: BNY Mellon Investment Adviser, Inc.