16:06 ET AllianceBernstein National Municipal Income Fund, Inc. RELEASES MONTHLY PORTFOLIO UPDATE

, /PRNewswire/ -- AllianceBernstein National Municipal Income Fund, Inc.[NYSE: AFB] (the "Fund") today released its monthly portfolio update as of November 30, 2025.AllianceBernstein National Municipal Income Fund, Inc. Top 10 Fixed-Income Holdings Portfolio % 1) Melissa Independent School District Series 2024-2 4.25%, 02/01/53 2.15 % 2) Commonwealth of Massachusetts Series 2025-2 5.00%, 01/01/54 2.00 % 3) Oklahoma Turnpike Authority Series 2023 4.50%, 01/01/53 1.96 % 4) New York Transportation Development Corp. Series 2024 Zero Coupon, 12/31/54 1.93 % 5) Dallas Independent School District Series 2024-2 4.00%, 02/15/54 1.92 % 6) State of Hawaii Airports System Revenue Series 2025-2 5.50%, 07/01/54 1.86 % 7) Metropolitan Washington Airports Authority Aviation Revenue Series 2025-2 5.50%, 10/01/55 1.86 % 8) Worthington City School District Series 2025-2 5.50%, 12/01/54 1.86 % 9) City of Atlanta GA Department of Aviation Series 2025-2 5.50%, 07/01/55 1.85 % 10) County of Miami-Dade FL Aviation Revenue Series 2025-2 5.50%, 10/01/55 1.83 % Sector/Industry Breakdown Portfolio % Revenue Health Care - Not-for-Profit 13.42 % Airport 10.28 % Revenue - Miscellaneous 7.20 % Toll Roads/Transit 5.51 % Prepay Energy 4.70 % Industrial Development - Airline 4.14 % Primary/Secondary Ed. - Public 3.56 % Higher Education - Private 3.49 % Port 2.61 % Industrial Development - Industry 2.18 % Higher Education - Public 1.78 % Electric Utility 1.47 % Senior Living 1.34 % Water & Sewer 0.80 % Tobacco Securitization 0.30 % Primary/Secondary Ed. - Private 0.18 % SUBTOTAL 62.96 % Tax Supported Local G.O. 11.03 % State G.O. 6.42 % Special Tax 3.69 % Local Lease 1.49 % Assessment District 0.18 % SUBTOTAL 22.81 % Guaranteed 11.83 % Asset-Backed Housing - Multi-Family 0.86 % SUBTOTAL 0.86 % Commercial Mortgage-Backed Securities Non-Agency Fixed Rate CMBS 0.49 % Non-Agency Floating Rate CMBS 0.35 % SUBTOTAL 0.84 % Prerefunded/ETM 0.36 % Cash & Cash Equivalents Funds and Investment Trusts 0.34 % SUBTOTAL 0.34 % Total 100.00 % State Breakdown Portfolio % Texas 14.45 % California 8.95 % Florida 8.58 % Illinois 8.14 % New York 6.97 % Massachusetts 5.85 % Wisconsin 5.50 % Georgia 4.59 % Ohio 4.20 % Pennsylvania 3.02 % South Carolina 2.98 % District of Columbia 2.60 % New Hampshire 2.55 % Oklahoma 2.35 % Arizona 2.04 % Louisiana 1.96 % Michigan 1.91 % Hawaii 1.86 % Colorado 1.74 % Minnesota 1.31 % Alabama 0.97 % Nebraska 0.93 % Indiana 0.86 % North Carolina 0.76 % Virginia 0.76 % Washington 0.69 % Tennessee 0.51 % Alaska 0.49 % Maryland 0.37 % North Dakota 0.36 % Arkansas 0.35 % New Jersey 0.35 % Oregon 0.24 % Connecticut 0.20 % South Dakota 0.14 % Other 0.47 % Total Investments 100.00 % Credit Quality Breakdown Portfolio % AAA 12.40 % AA 38.51 % A 19.95 % BBB 16.55 % BB 7.13 % B 0.53 % Not Rated 4.23 % Pre-refunded Bonds 0.36 % Short Term Investments 0.34 % Total 100.00 % Bonds by Maturity Portfolio % Less than 1 Year 0.84 % 1 to 5 Years 0.13 % 5 to 10 Years 2.29 % 10 to 20 Years 12.52 % 20 to 30 Years 65.74 % More than 30 Years 18.48 % Other 0.00 % Total Net Assets 100.00 % Portfolio Statistics: AMT Percent: 17.93 % Average Coupon: 4.96 % Percentage of Leverage: Bank Borrowing: 0.00 % Investment Operations: 0.00 % Auction Preferred Shares (APS): 0.00 % Tender Option Bonds: 23.05 % VMTP Shares: 0.00 % VRDP Shares: 17.38 % Total Fund Leverage: 40.43%* Average Maturity: 13.26 Years Effective Duration: 11.57 Years Total Net Assets: $349.99 Million** Common Stock Net Asset Value: $12.18 Total Number of Holdings: 173 Portfolio Turnover: 32.00 % SOURCE AllianceBernstein National Municipal Income Fund, Inc.