DWS MUNICIPAL INCOME TRUST Business Summary

DWS Municipal Income Trust (KTF) is a closed-end management investment company that generates revenue through asset-based advisory and administration fees. The Trust’s primary business model focuses on providing high current income exempt from federal income tax by investing at least 80% of its assets in a diversified portfolio of investment-grade municipal securities. Its portfolio is segmented primarily into revenue bonds, which constitute approximately 83% of holdings, and general obligation bonds at roughly 10%, utilizing a leveraged capital structure of approximately 35.7% to amplify yield for common shareholders. KTF competes directly with other national municipal bond closed-end funds such as Eaton Vance Municipal Bond Fund (EIM), BNY Mellon Strategic Municipals (LEO), BlackRock MuniHoldings Fund (MHD), and Invesco Trust for Investment Grade Municipals (VGM). In the current market, KTF distinguishes itself as a defensive, term-like vehicle, as it is currently executing a board-approved plan to terminate and distribute all liquidating assets to shareholders by November 30, 2026. The Trust is managed by DWS Investment Management Americas, Inc., a subsidiary of DWS Group, with a leadership team led by President and Chief Executive Officer Hepsen Uzcan and Treasurer and Chief Financial Officer Diane Kenneally. The investment strategy is executed by veteran portfolio managers Michael J. Generazo and Chad Farrington, CFA, who bring over 33 and 27 years of industry experience, respectively, in the municipal fixed-income space. Governance is provided by an independent Board of Trustees chaired by Keith R. Fox, alongside members including Catherine Schrand and Chad D. Perry. Notable institutional backing includes significant positions held by Sit Investment Associates and Karpus Investment Management, while JPMorgan Chase Bank serves as the sole holder of the Trust’s preferred shares. This leadership structure is currently focused on managing the fund's strategic wind-down and maintaining a target annualized distribution rate of at least 7% of net asset value through the final liquidation date.