Reaves Utility Income Fund Section 19(A) Notice

Statement Pursuant to Section 19(a) of the Investment Company Act of 1940

DENVER, CO / ACCESSWIRE / November 30, 2022 / The Reaves Utility Income Fund (NYSE American:UTG) (the "Fund"), a closed-end sector fund, paid a monthly distribution on its common stock of $0.19 per share to shareholders of record at the close of business on November 18, 2022.

The following table sets forth the estimated amount of the sources of distribution for purposes of Section 19 of the Investment Company Act of 1940, as amended, and the related rules adopted thereunder. In accordance with generally accepted accounting principles ("GAAP"), the Fund estimates the following percentages, of the total distribution amount per share, attributable to (i) current and prior fiscal year net investment income, (ii) net realized short-term capital gain, (iii) net realized long-term capital gain and (iv) return of capital or other capital source as a percentage of the total distribution amount. These percentages are disclosed for the current distribution as well as the fiscal year-to-date cumulative distribution amount per share for the Fund.

Current Distribution from:
	Per Share ($)			%
Net Investment Income	0.05221			27.48	%
Net Realized Short-Term Capital Gain	0.00000			0.00	%
Net Realized Long-Term Capital Gain	0.13779			72.52	%
Return of Capital or other Capital Source	0.00000			0.00	%
Total (per common share)	0.19000			100.00	%
Fiscal Year-to-Date Cumulative
Distributions from:
	Per Share ($)			%
Net Investment Income	0.05221			27.48	%
Net Realized Short-Term Capital Gain	0.00000			0.00	%
Net Realized Long-Term Capital Gain	0.13779			72.52	%
Return of Capital or other Capital Source	0.00000			0.00	%
Total (per common share)	0.19000			100.00	%

The timing and character of distributions for federal income tax purposes are determined in accordance with income tax regulations which may differ from GAAP. As such, all or a portion of this distribution may be reportable as taxable income on your 2022 federal income tax return. The final tax character of any distribution declared in 2022 will be determined in January 2023 and reported to you on IRS Form 1099-DIV.