Gabelli Healthcare & WellnessRx Trust Reaffirms Its Quarterly Distribution Policy and Declares Second Quarter Distribution of $0.14 Per Share

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The Board of Trustees of The Gabelli Healthcare & WellnessRx Trust (NYSE:GRX) (the Fund) reaffirmed its quarterly distribution policy and declared a $0.14 per share cash distribution payable on June 23, 2020 to common shareholders of record on June 16, 2020.

The Fund intends to pay a quarterly distribution of an amount determined each quarter by the Board of Trustees. The Board of Trustees may change the amount of the quarterly distribution at any time. In addition to the quarterly distributions, and in accordance with the minimum distribution requirements of the Internal Revenue Code for regulated investment companies, the Fund may pay an adjusting distribution in December which includes any additional income and net realized capital gains in excess of the quarterly distributions for that year.

Each quarter, the Board of Trustees reviews the amount of any potential distribution and the income, realized capital gain, or capital available. The Board of Trustees will continue to monitor the Funds distribution level, taking into consideration the Funds net asset value and the financial market environment. The Funds distribution policy is subject to modification or termination by the Board of Trustees at any time, and there can be no guarantee that the policy will continue. The distribution rate should not be considered the dividend yield or total return on an investment in the Fund.

All or part of the distribution may be treated as long-term capital gain or qualified dividend income (or a combination of both) for individuals, each subject up to the maximum federal income tax rate, which is currently 20% in taxable accounts for individuals (or less depending on an individuals tax bracket). In addition, certain U.S. shareholders who are individuals, estates or trusts and whose income exceeds certain thresholds will be required to pay a 3.8% Medicare surcharge on their “net investment income”, which includes dividends received from the Fund and capital gains from the sale or other disposition of shares of the Fund.

If the Fund does not generate sufficient earnings (dividends and interest income, less expenses, and realized net capital gain) equal to or in excess of the aggregate distributions paid by the Fund in a given year, then the amount distributed in excess of the Funds earnings would be deemed a return of capital. Since this would be considered a return of a portion of a shareholders original investment, it is generally not taxable and would be treated as a reduction in the shareholders cost basis.

Long-term capital gains, qualified dividend income, investment company taxable income, and return of capital, if any, will be allocated on a pro-rata basis to all distributions to common shareholders for the year. Based on the accounting records of the Fund currently available, each of the distributions paid to common shareholders in 2020 would include approximately 100% from net capital gains on a book basis. This does not represent information for tax reporting purposes. The estimated components of each distribution are updated and provided to shareholders of record in a notice accompanying the distribution and are available on our website (www.gabelli.com). The final determination of the sources of all distributions in 2020 will be made after year end and can vary from the quarterly estimates. Shareholders should not draw any conclusions about the Funds investment performance from the amount of the current distribution. All individual shareholders with taxable accounts will receive written notification regarding the components and tax treatment for all 2020 distributions in early 2021 via Form 1099-DIV.

Investors should carefully consider the investment objectives, risks, charges, and expenses of the Fund before investing. More information regarding the Funds distribution policy and other information is available by calling 800-GABELLI (800-422-3554) or visiting www.gabelli.com.

About The Gabelli Healthcare & WellnessRx Trust

The Gabelli Healthcare & WellnessRx Trust is a diversified, closed-end management investment company with $246 million in total net assets whose primary investment objective is long-term growth of capital. The Fund is managed by Gabelli Funds, LLC, a subsidiary of GAMCO Investors, Inc. (NYSE:GBL).

NYSE “ GRX

CUSIP “ 36246K103

Investor:

Bethany Uhlein at (914) 921-5070 or [email protected]