mutual funds · shares of oppenheimer funds are not deposits or obligations of any bank, are not...

Year-End Tax Tables This document contains general information to assist you in completing your 2018 tax returns. You

should consult your tax advisor to determine the appropriate use of these tables. This information is

subject to change.

Year-End Tax Tables Applicable to Form 1099-DIV

Page 2 - 3 Mutual Funds: Qualified Dividend Income

Page 4 ETFs: Qualified Dividend Income

Page 5 Return of Capital Page 6 Taxable/Exempt Interest Income and Private Activity Bond Interest Percentage Page 7 Mutual Funds: Foreign Taxes Paid Page 8 ETFs: Foreign Taxes Paid Page 9 Mutual Funds: Corporate Dividend Received Deduction (DRD) Percentage 0 ETFs: Corporate Dividend Received Deduction (DRD) Percentage

Page 11 U.S. Government Securities

Page 12 - 14

Page 15

State Income Information

Mutual Funds: Unrecaptured Section 1250 Gain

Year-End Tax Tables Applicable to Form 1042-S (Foreign Shareholders)

Page 17 Mutual Funds: Qualified Interest Income and Qualified Short Term Capital Gains

Page 19 ETFs: Qualified Interest Income and Qualified Short Term Capital Gains

Shares of Oppenheimer Funds are not deposits or obligations of any bank, are not guaranteed by any bank, are not insured by the FDIC or any other agency, and involve investment risks, including the possible loss of the principal amount invested.

This material is provided for general and educational purposes only, and is not intended to provide legal, tax or investment advice, or to avoid penalties that may be imposed under U.S. federal tax laws. Contact your attorney or other advisor regarding your specific legal, investment or tax situation.

Before investing in any of the Oppenheimer funds, investors should carefully consider a fund's investment objectives, risks, charges and expenses. Fund prospectuses and summary prospectuses contain this and other information about the funds, and may be obtained by asking your financial advisor, visiting oppenheimerfunds.com, or calling 1.800.CALL OPP (225.5677). Read prospectuses and summary prospectuses carefully before investing.

OppenheimerFunds are distributed by OppenheimerFunds Distributor, Inc. 225 Liberty Street, New York, NY 10281-1008 ©2019 OppenheimerFunds Distributor, Inc. All rights reserved.

ETFs: Unrecaptured Section 1250 Gain Page 16

2018 Qualified Dividend Income For Mutual Funds. ETFs are listed on page 4.

The table below is used primarily by payees that are not eligible to receive a Form 1099-DIV. Use this table to figure the amount of your taxable dividends that are qualified dividends eligible for reduced tax rates. This is the percentage of Box 1a Ordinary Dividends that is reported in Box 1b Qualified Dividends on Form 1099-DIV. Box 1a Ordinary Dividends includes taxable dividends, short term capital gains, and any foreign tax gross-up. It does not include return of capital which is reported in Box 3 of Form 1099-DIV.

Fund Qualified Dividend Income OFI Pictet Global Environmental Solutions Fund 100.0000% Oppenheimer Capital Appreciation Fund 100.0000% Oppenheimer Capital Income Fund 46.7115% Oppenheimer Developing Markets Fund 100.0000% Oppenheimer Discovery Fund 24.4509% Oppenheimer Discovery Mid Cap Growth Fund 100.0000% Oppenheimer Dividend Opportunity Fund 100.0000%

Oppenheimer Equity Income Fund 100.0000% Oppenheimer Fundamental Alternatives Fund 100.0000% Oppenheimer Global Allocation Fund 57.4445% Oppenheimer Global Focus Fund 100.0000% Oppenheimer Global Fund 100.0000% Oppenheimer Global High Yield Fund 0.0854%

Oppenheimer Global Multi-Asset Income Fund 17.5115% Oppenheimer Global Opportunities Fund 62.0675% Oppenheimer Global Real Estate Fund 29.0150% Oppenheimer Global Strategic Income Fund 4.6860% Oppenheimer Global Unconstrained Bond Fund 0.0235% Oppenheimer International Bond Fund 20.1696%

Oppenheimer International Diversified Fund 100.0000% Oppenheimer International Equity Fund 100.0000% Oppenheimer International Growth and Income Fund 100.0000% Oppenheimer International Growth Fund 100.0000% Oppenheimer International Small-Mid Company Fund 53.8380% Oppenheimer Macquarie Global Infrastructure Fund 100.0000%

Oppenheimer Main Street All Cap Fund 100.0000% Oppenheimer Main Street Fund 100.0000% Oppenheimer Main Street Mid Cap Fund 36.2621% Oppenheimer Main Street Small Cap Fund 93.1767%

Oppenheimer Mid Cap Value Fund 100.0000% Oppenheimer Portfolio Series Active Allocation Fund 74.5119% Oppenheimer Portfolio Series Conservative Investor Fund 22.5190% Oppenheimer Portfolio Series Equity Investor Fund1 100.0000% Oppenheimer Portfolio Series Moderate Investor Fund 58.3907% Oppenheimer Preferred Securities and Income Fund 88.7461% Oppenheimer Real Estate Fund 8.4650% Oppenheimer Rising Dividends Fund 100.0000% Oppenheimer Senior Floating Rate Fund 2.6507%

Continued on next page.

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2018 Qualified Dividend Income For Mutual Funds. ETFs are listed on page 4.

Fund Qualified Dividend Income Oppenheimer Senior Floating Rate Plus Fund 2.2204% Oppenheimer Small Cap Value Fund 100.0000% Oppenheimer SteelPath MLP & Energy Infrastructure Fund 93.8264% Oppenheimer SteelPath MLP Alpha Fund 100.0000%

Oppenheimer SteelPath MLP Income Fund 100.0000% Oppenheimer SteelPath MLP Select 40 Fund 100.0000% Oppenheimer SteelPath Panoramic Fund 100.0000% Oppenheimer Value Fund 100.0000%

1. On February 1, 2019, Oppenheimer Portfolio Series Equity Investor Fund was renamedOppenheimer Portfolio Series Growth Investor Fund.

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2018 Qualified Dividend Income For ETFs.

The table below is used primarily by payees that are not eligible to receive a Form 1099-DIV. Use this table to figure the amount of your taxable dividends that are qualified dividends eligible for reduced tax rates. This is the percentage of Box 1a Ordinary Dividends that is reported in Box 1b Qualified Dividends on Form 1099-DIV. Box 1a Ordinary Dividends includes taxable dividends, short term capital gains, and any foreign tax gross-up. It does not include return of capital which is reported in Box 3 of Form 1099-DIV.

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Fund Qualified Dividend Income

Oppenheimer Emerging Markets Revenue ETF 54.16%Oppenheimer Emerging Markets Ultra Dividend Revenue ETF 64.52%Oppenheimer ESG Revenue ETF 94.91%Oppenheimer Global ESG Revenue ETF 82.50%Oppenheimer Global Revenue ETF 90.95%Oppenheimer International Revenue ETF 88.39%Oppenheimer International Ultra Dividend Revenue ETF 100.00%Oppenheimer Russell 1000 Dynamic Multifactor ETF 84.40%Oppenheimer Russell 1000 Low Volatility Factor ETF 100.00%Oppenheimer Russell 1000 Momentum Factor ETF 100.00%Oppenheimer Russell 1000 Quality Factor ETF 100.00%Oppenheimer Russell 1000 Size Factor ETF 66.02%Oppenheimer Russell 1000 Value Factor ETF 100.00%Oppenheimer Russell 1000 Yield Factor ETF 100.00%Oppenheimer Russell 2000 Dynamic Multifactor ETF 83.92%Oppenheimer S&P 500 Revenue ETF 100.00%Oppenheimer S&P Financials Revenue ETF 100.00%Oppenheimer S&P MidCap 400 Revenue ETF 100.00%Oppenheimer S&P SmallCap 600 Revenue ETF 100.00%Oppenheimer S&P Ultra Dividend Revenue ETF 93.55%

2018 Return of Capital

Return of capital is a distribution from a fund not attributable to the Fund's earnings. Itgenerally occurs when a Fund's distributions during a fiscal year exceed current earningsand profits as defined in the IRS regulations. Fund distributions are paid based on earningsas defined by SEC accounting standards, which may differ from how the IRS definesearnings.

This table is used primarily by payees that are not eligible to receive a Form 1099-DIV.Multiply the amount of ordinary dividends (including short-term capital gains, if any) timesthe return of capital rate below.

Fund Return of Capital1

Oppenheimer Emerging Markets Local Debt Fund 5.3126%

Oppenheimer Global Real Estate Fund 6.3375%

Oppenheimer International Bond Fund 45.5262%

Oppenheimer Rochester Arizona Municipal Fund 100.0000%

Oppenheimer Rochester Maryland Municipal Fund 100.0000%

Oppenheimer Rochester Massachusetts Municipal Fund 100.0000%

Oppenheimer Rochester Michigan Municipal Fund 100.0000%

Oppenheimer Rochester North Carolina Municipal Fund 100.0000%

Oppenheimer Rochester Ohio Municipal Fund 1.9597%

Oppenheimer Rochester Virginia Municipal Fund 100.0000%

Oppenheimer SteelPath MLP & Energy Infrastructure Fund 23.7597%

Oppenheimer SteelPath MLP Alpha Fund 94.7052%

Oppenheimer SteelPath MLP Alpha Plus Fund 100.0000%

Oppenheimer SteelPath MLP Income Fund 99.9939%

Oppenheimer SteelPath MLP Select 40 Fund 72.1141%

1. This rate may vary from the rate reported on Form 8937 under Organizational Actions atoppenheimerfunds.com/taxcenter. The rate reported on Form 8937 is calculated as of fiscalyear end of the Fund. The rate reported in this table is for the calendar year.

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2018 Taxable/Exempt Interest Income and Private Activity Bond Interest Percentage

The Taxable Income percentage in the table below may be used to determine the percentage of dividends that are taxable in the Rochester funds. The table also reports the percentages of tax-exempt dividends that may be treated as a tax preference item for the alternative minimum tax (AMT). For many shareholders, this information is provided on Form 1099-DIV.

Some states do not tax federally tax-exempt dividends. To find the percentage of dividends attributed to specific state or municipal securities, see the State Income Information table.

Fund Taxable Income Alternative Minimum Tax

Oppenheimer Municipal Fund 0.5920% 6.6431%

Oppenheimer Rochester AMT-Free Municipal Fund 1.8353% 0.0000%

Oppenheimer Rochester AMT-Free New York Municipal Fund 1.2884% 0.0000%

Oppenheimer Rochester Arizona Municipal Fund 5.7540% 16.5597%

Oppenheimer Rochester California Municipal Fund 1.9049% 12.4060%

Oppenheimer Rochester Fund Municipals 1.8410% 9.9625%

Oppenheimer Rochester High Yield Municipal Fund 4.7235% 7.3594%

Oppenheimer Rochester Limited Term California Muni Fund 0.5381% 12.0944%

Oppenheimer Rochester Limited Term New York Municipal Fund 0.8596% 19.0304%

Oppenheimer Rochester Maryland Municipal Fund 6.5041% 0.2230%

Oppenheimer Rochester Massachusetts Municipal Fund 3.6930% 8.6581%

Oppenheimer Rochester Michigan Municipal Fund 7.2581% 5.1398%

Oppenheimer Rochester New Jersey Municipal Fund 1.6436% 17.8574%

Oppenheimer Rochester North Carolina Municipal Fund 3.4669% 5.8586%

Oppenheimer Rochester Ohio Municipal Fund 11.9782% 1.8186%

Oppenheimer Rochester Pennsylvania Municipal Fund 1.2720% 4.2050%

Oppenheimer Rochester Short Duration High Yield Muni Fund 1.3104% 13.6666%

Oppenheimer Rochester Virginia Municipal Fund 9.4259% 2.3508%

Oppenheimer Short Term Municipal Fund 1.5172% 2.1435%

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2018 Foreign Taxes Paid For Mutual Funds. ETFs are listed on next page.

Mutual funds that invest in foreign securities and meet certain requirements can elect to pass certain foreign taxes paid through to their shareholders. This permits shareholders to take a federal income tax credit or a deduction from gross income at their discretion. For many shareholders, this information is provided on Form 1099-DIV.

The table summarizes the Foreign Taxes Paid per share and the Foreign Source Gross Income Percentage for each Oppenheimer fund making the election.

Country-by-country reporting of income is no longer required on mutual fund distributions.

Fund Foreign Tax Paid

Foreign Source Gross Income Percentage1

OFI Pictet Global Environmental Solutions Fund $0.0004 6.024770% Oppenheimer Developing Markets Fund $0.0700 97.135027% Oppenheimer Global Fund $0.1361 66.833592% Oppenheimer International Diversified Fund $0.0343 95.435638% Oppenheimer International Equity Fund $0.0452 97.606087% Oppenheimer International Growth and Income Fund $0.0363 97.221330% Oppenheimer International Growth Fund $0.1117 93.514832% Oppenheimer International Small-Mid Company Fund $0.0539 24.075362% Oppenheimer Macquarie Global Infrastructure Fund $0.0096 32.973143% Oppenheimer Portfolio Series Active Allocation Fund $0.0098 18.461233% Oppenheimer Portfolio Series Conservative Investor Fund $0.0017 4.380196% Oppenheimer Portfolio Series Equity Investor Fund2 $0.0203 45.458360% Oppenheimer Portfolio Series Moderate Investor Fund $0.0057 13.690245%

1. Foreign Source Gross Income Percentage includes ordinary dividends, short-term capitalgain dividends and foreign tax gross-up.


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2018 Foreign Taxes Paid For ETFs

Exchange-Traded Funds (ETFs) that invest in foreign securities and meet certain requirements can elect to pass certain foreign taxes paid through to their shareholders. This permits shareholders to take a federal income tax credit or a deduction from gross income at their discretion. For many shareholders, this information is provided on Form 1099-DIV.

The table summarizes the Foreign Taxes Paid per share and the Foreign Source Gross Income Percentage for each Oppenheimer ETF making the election.

Country-by-country reporting of income is no longer required on ETF distributions.

1. Foreign Source Gross Income Percentage includes ordinary dividends, short-term capital gain dividends and foreign tax gross-up.

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Fund Foreign Tax Paid

Foreign Source Gross Income Percentage1

Oppenheimer International Revenue ETF $0.10 100.0000%Oppenheimer Global Revenue ETF $0.07 75.4403%Oppenheimer Global ESG Revenue ETF $0.09 74.1767%Oppenheimer Emerging Markets Revenue ETF $0.09 79.6026%

2018 Corporate Dividend Received Deduction (DRD) Percentage For Mutual Funds. ETFs are listed on next page.

U.S. corporations may exclude 70% of certain dividends they receive from other domestic corporations of which they own less than 20%. The percentage below reflects the amount of the dividend received by a corporation (ordinary dividends, short-term capital gain dividends, if any, and foreign tax gross-up, if any) that may be eligible for this 70% deduction.

Fund DRD Percentage

OFI Pictet Global Environmental Solutions Fund 31.65% Oppenheimer Capital Appreciation Fund 100% Oppenheimer Capital Income Fund 41.7% Oppenheimer Developing Markets Fund 0.29% Oppenheimer Discovery Fund 22.53% Oppenheimer Discovery Mid Cap Growth Fund 100% Oppenheimer Dividend Opportunity Fund 84.92% Oppenheimer Equity Income Fund 100% Oppenheimer Fundamental Alternatives Fund 100% Oppenheimer Global Allocation Fund 27.56% Oppenheimer Global Focus Fund 25.15% Oppenheimer Global Fund 66.23% Oppenheimer Global High Yield Fund 0.09% Oppenheimer Global Multi-Asset Income Fund 12.96% Oppenheimer Global Opportunities Fund 11.01% Oppenheimer Global Real Estate Fund 0.36% Oppenheimer Global Strategic Income Fund 2.21% Oppenheimer Global Unconstrained Bond Fund 0.05% Oppenheimer International Bond Fund 0.46% Oppenheimer International Diversified Fund 1.14% Oppenheimer International Equity Fund 1.85% Oppenheimer International Small-Mid Company Fund 0.17% Oppenheimer Macquarie Global Infrastructure Fund 32.64% Oppenheimer Main Street All Cap Fund 100% Oppenheimer Main Street Fund 83.43% Oppenheimer Main Street Mid Cap Fund 33.78% Oppenheimer Main Street Small Cap Fund 42.54% Oppenheimer Mid Cap Value Fund 100% Oppenheimer Portfolio Series: Active Allocation Fund 80.24% Oppenheimer Portfolio Series Conservative Investor Fund 20.64% Oppenheimer Portfolio Series Equity Investor Fund1 68.86% Oppenheimer Portfolio Series Moderate Investor Fund 48.88% Oppenheimer Preferred Securities and Income Fund 54.25% Oppenheimer Real Estate Fund 1.15% Oppenheimer Rising Dividends Fund 100% Oppenheimer Senior Floating Rate Fund 2.89% Oppenheimer Senior Floating Rate Plus Fund 2.47% Oppenheimer Small Cap Value Fund 100% Oppenheimer SteelPath MLP & Energy Infrastructure Fund 83.67% Oppenheimer Value Fund 85.95%

Oppenheimer SteelPath MLP Alpha Fund, Oppenheimer SteelPath MLP Income Fund, Oppenheimer SteelPath MLP Select 40 Fund, and Oppenheimer SteelPath MLP Alpha Plus Fund are structured as C Corporations. They do not pass through a Dividend Received Deduction attribute but instead are eligible for the Dividend Received Deduction as a direct investment. Please consult your tax advisor for more information. 1. On February 1, 2019, Oppenheimer Portfolio Series Equity Investor Fund was renamed Oppenheimer Portfolio Series

Growth Investor Fund.

9

2018 Corporate Dividend Received Deduction (DRD) Percentage For ETFs

U.S. corporations may exclude 70% of certain dividends they receive from other domestic corporations of which they own less than 20%. The percentage below reflects the amount of the dividend received by a corporation (ordinary dividends, short-term capital gain dividends, if any, and foreign tax gross-up, if any) that may be eligible for this 70% deduction.

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Fund DRD Percentage

Oppenheimer Emerging Markets Revenue ETF 0.32%Oppenheimer ESG Revenue ETF 97.47%Oppenheimer Global ESG Revenue ETF 24.76%Oppenheimer Global Revenue ETF 28.56%Oppenheimer International Revenue ETF 0.08%Oppenheimer Russell 1000 Dynamic Multifactor ETF 81.93%Oppenheimer Russell 1000 Low Volatility Factor ETF 99.55%Oppenheimer Russell 1000 Momentum Factor ETF 98.73%Oppenheimer Russell 1000 Quality Factor ETF 100.00%Oppenheimer Russell 1000 Size Factor ETF 67.37%Oppenheimer Russell 1000 Value Factor ETF 99.72%Oppenheimer Russell 1000 Yield Factor ETF 91.59%Oppenheimer Russell 2000 Dynamic Multifactor ETF 81.97%Oppenheimer S&P 500 Revenue ETF 100.00%Oppenheimer S&P Financials Revenue ETF 100.00%Oppenheimer S&P MidCap 400 Revenue ETF 100.00%Oppenheimer S&P SmallCap 600 Revenue ETF 95.24%Oppenheimer S&P Ultra Dividend Revenue ETF 91.59%

2018 U.S. Government Securities U.S. Government securities generate income that is fully taxable at the federal income tax level but may be tax exempt at the state income tax level. As a result, any distributions you receive from funds investing in U.S. Government securities are included as taxable income on your IRS Form 1099-DIV Box 1a. To find out if the income distributed by U.S. Government securities in your Oppenheimer funds is exempt from state income taxes, first consult your tax advisor. If certain dividends are not taxable in your state, you can use the table below to determine how much of your distribution might be exempt from state income tax.

The table lists every Oppenheimer fund that distributed income attributable to U.S. Treasury and Agency securities. It also lists the type of security that generated the income. Finally, it lists what percentage of the dividends (taxable dividends, short-term capital gain dividends and foreign tax gross-up, if any) distributed by each fund was attributable to these various types of U.S. Government securities.

Fund Federal Home Loan Bank

Federal Home Loan Mortgage

Corporation

Federal National

Mortgage Association

Government National

Mortgage Association

U.S. Treasury Notes & Bonds

Repurchase Agreements

Other Investments

Capital Income .30% 5.40% 1.40% .10% 92.80% Emerging Markets Local Debt .10% 99.90% Global Allocation 4.80% 95.20% Global Multi-Asset Income .30% .30% .20% 99.20% Global Strategic Income .30% 1.80% .40% 97.50% Global Unconstrained Bond .30% 99.70% Government Cash Reserves 49.40% 1.50% 4.30% .20% 38.60% 6.00% Government Money Market 50.00% 1.20% 4.10% .20% 39.30% 5.20% International Bond .80% 99.20% Limited-Term Bond 1.60% 7.60% 1.30% 89.50% Limited-Term Government .10% 24.40% 47.70% 3.90% 3.60% 20.30% Portfolio Series Active Allocation .20% 1.20% 3.90% .60% .20% .10% 93.80% Portfolio Series Conservative Investor Investor Fund

.50% 4.10% 12.90% 2.00% .70% .30% 79.50% Portfolio Series Moderate Investor Fund

.30% 2.70% 8.30% 1.30% .50% .20% 86.70% Total Return Bond .90% 12.20% 3.00% .10% 83.80%

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2018 State Income Information

The table below is a state-by-state summary of the sources of municipal interest from which tax-exempt dividends were paid by certain Oppenheimer municipal funds during 2018. The percentages shown reflect, for each fund, the portion of tax-exempt dividends attributable to income the fund earned on securities issued by each state or municipality thereof. Whether your dividends were reinvested or taken in cash, they are free of federal income taxation. This summary is available each year, and we suggest that you keep it for future reference. Depending upon the tax laws of your state, you may find it helpful when preparing your state or local tax returns.

Oppenheimer Intermediate

Term Municipal

Fund

Oppenheimer Municipal Fund

Oppenheimer Rochester AMT-Free Municipal

Fund

Oppenheimer Rochester AMT-Free New York Municipal

Fund

Oppenheimer Rochester

Arizona Municipal

Fund

Oppenheimer Rochester California Municipal

Fund

Oppenheimer Rochester Fund

Municipals

Oppenheimer Rochester High Yield Municipal

Fund


Limited Term California Municipal

Fund

ALABAMA 1.3% 4.5% .1% 3.6% ALASKA .1% 0.10% .4% ARIZONA 3.6% .4% 2.6% 98.1% 1.9% ARKANSAS .1% .1% CALIFORNIA 17.5% 1.3% 11.8% 98.8% 14.7% 94.3% COLORADO .9% .1% 2.7% 3.6% CONNECTICUT .2% 1.1% .9% DELAWARE .3% .2% FLORIDA 5.8% 1.2% .2% 5.9% GEORGIA 1.1% .2% 1.2% HAWAII .1% .1% IDAHO ILLINOIS 5.9% 8.8% .7% 5.1% INDIANA .6% 2.0% 2.0% IOWA .2% .2% .1% KANSAS .1% .1% KENTUCKY .8% .1% 1.6% .2% LOUISIANA 2.9% 2.8% .4% MAINE .6% .5% MARYLAND 1.6% .5% .3% MASSACHUSETTS .4% .3% .9% 1.0% MICHIGAN 2.6% .1% 5.7% 3.7% MINNESOTA 1.6% 94.8% .1% .2% .8% MISSISSIPPI 1.2% .5% .3% MISSOURI 1.5% .4% 2.7% 1.3% MONTANA .5% .1% NEBRASKA .7% .4% NEVADA .3% .5% .3% NEW HAMPSHIRE .1% .8% .2% NEW JERSEY 8.2% 5.1% 2.4% NEW MEXICO .4% .2% .2% NEW YORK 8.2% .7% 6.7% 99.8% 90.8% 10.1% NORTH CAROLINA .5% .1% .2% NORTH DAKOTA OHIO 3.7% .1% 11.9% 10.2% OKLAHOMA .4% 1.0% .4% OREGON .4% .1% .1% PENNSYLVANIA 12.2% .1% 6.0% 2.0% RHODE ISLAND .3% .1% .1% SOUTH CAROLINA 1.20% .1% .4% .2% .9% SOUTH DAKOTA .3% .1% TENNESSEE .9% .9% .5% TEXAS 9.2% .5% 3.9% .1% 8.7% UTAH .1% .3% .6% VERMONT 1.0% .1% VIRGINIA 2.2% .3% .9% WASHINGTON 1.0% 1.9% 1.7% WEST VIRGINIA .3% 1.0% WISCONSIN 1.6% .4% 1.5% 3.0% WYOMING DIST OF COLUMBIA .2% .1% 1.7% 6.0% GUAM .1% .5% .2% .7% PUERTO RICO 2.4% 8.0% 1.0% 4.8% VIRGIN ISLANDS .1% .4% .3% .2% NORTHERN MARIANA ISLANDS .1% .3% .7% .5%

Total 100% 100% 100% 100% 100% 100% 100% 100% 100%

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2018 State Income Information continued


Limited Term New York

Municipal Fund

Oppenheimer Rochester Maryland

Municipal Fund


Massachusetts Municipal

Fund

Oppenheimer Rochester Michigan Municipal

Fund


New Jersey Municipal

Fund


North Carolina Municipal

Fund

Oppenheimer Rochester Ohio Municipal Fund


Pennsylvania Municipal

Fund

Oppenheimer Rochester Short Duration High

Yield Municipal Fund

ALABAMA 6.2% .1% .1% .8% ALASKA ARIZONA .3% 1.5% ARKANSAS .1% CALIFORNIA .1% .1% 17.5% COLORADO .7% CONNECTICUT .1% DELAWARE FLORIDA 3.9% .7% .4% 4.9% GEORGIA .1% 2.0% HAWAII 1.3% IDAHO .1% ILLINOIS .1% 21.5% INDIANA 8.6% 1.8% IOWA .1% KANSAS .1% KENTUCKY 4.1% .8% LOUISIANA 4.0% 1.5% MAINE MARYLAND 58.9% MASSACHUSETTS 98.9% 1.6% MICHIGAN 98.6% .6% MINNESOTA .1% .9% MISSISSIPPI .1% .2% .1% 2.2% MISSOURI 3.1% .1% 1.1% MONTANA .1% NEBRASKA .2% NEVADA 2.3% NEW HAMPSHIRE 1.0% NEW JERSEY 97.5% 4.9% NEW MEXICO NEW YORK 94.9% .1% .2% .4% .1% 9.5% NORTH CAROLINA 98.8% .1% .2% NORTH DAKOTA OHIO 98.2% 1.8% OKLAHOMA .1% OREGON PENNSYLVANIA 3.9% .2% 81.7% 2.1% RHODE ISLAND .1% SOUTH CAROLINA .1% .2% SOUTH DAKOTA TENNESSEE .2% TEXAS .1% .2% .2% .4% 3.4% UTAH .1% VERMONT .4% VIRGINIA .1% .8% WASHINGTON .2% WEST VIRGINIA .3% WISCONSIN 1.8% WYOMING DIST OF COLUMBIA 9.3% GUAM 2.5% .2% .3% PUERTO RICO 15.4% VIRGIN ISLANDS 2.6% 7.3% .3% 1.0% .2% 2.0% NORTHERN MARIANA ISLANDS 1.3% .6% Total 100% 100% 100% 100% 100% 100% 100% 100% 100%

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2018 State Income Information continued


Virginia Municipal Fund

Oppenheimer Short Term

Municipal Fund

ALABAMA 1.6% ALASKA .5%

ARIZONA 1.9%

ARKANSAS

CALIFORNIA 9.7%

COLORADO 2.9%

CONNECTICUT 2.3%

DELAWARE

FLORIDA 4.9%

GEORGIA 1.8%

HAWAII

IDAHO

ILLINOIS 15.0%

INDIANA 2.3%

IOWA

KANSAS .1%

KENTUCKY 1.6%

LOUISIANA .2%

MAINE

MARYLAND .2%

MASSACHUSETTS 1.4%

MICHIGAN 1.6%

MINNESOTA 1.2%

MISSISSIPPI .3%

MISSOURI 1.5%

MONTANA

NEBRASKA

NEVADA .5%

NEW HAMPSHIRE .1%

NEW JERSEY 12.2%

NEW MEXICO .1%

NEW YORK 5.7%

NORTH CAROLINA .2%

NORTH DAKOTA .1%

OHIO 1.5%

OKLAHOMA .5%

OREGON .2%

PENNSYLVANIA 5.8%

RHODE ISLAND

SOUTH CAROLINA 1.1%

SOUTH DAKOTA .6%

TENNESSEE 1.7%

TEXAS 12.5%

UTAH

VERMONT .1%

VIRGINIA 96.8% .8%

WASHINGTON .5%

WEST VIRGINIA .2%

WISCONSIN 1.4%

WYOMING

DIST OF COLUMBIA 3.2% .6%

GUAM

PUERTO RICO 2.6%

VIRGIN ISLANDS

NORTHERN MARIANA ISLANDS

Total 100% 100%

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2018 Unrecaptured Section 1250 Gain For Mutual Funds. ETFs are listed on next page.

Unrecaptured Section 1250 gain is the portion of a long-term capital gain distribution that is attributed to gains from certain depreciable real property. For many shareholders, this information is provided on Form 1099-DIV. You may need this information to complete your Form 1040 Schedule D.

1. On February 1, 2019, Oppenheimer Portfolio Series Equity Investor Fund was renamed Oppenheimer Portfolio SeriesGrowth Investor Fund.

Fund 1250 Gain Oppenheimer Capital Appreciation Fund 0.0311% Oppenheimer Dividend Opportunity Fund 0.1283% Oppenheimer Equity Income Fund 0.6879% Oppenheimer Global Allocation Fund 0.0145% Oppenheimer Global Multi-Asset Growth Fund 0.0143% Oppenheimer Global Real Estate Fund 1.5673% Oppenheimer Main Street All Cap Fund 0.1219% Oppenheimer Main Street Fund 0.0304% Oppenheimer Main Street Mid Cap Fund 0.0898% Oppenheimer Main Street Small Cap Fund 0.2314% Oppenheimer Mid Cap Value Fund 0.1377% Oppenheimer Portfolio Series Equity Investor Fund1 0.0270% Oppenheimer Portfolio Series Moderate Investor Fund 0.4764% Oppenheimer Real Estate Fund 8.3579% Oppenheimer Rising Dividends Fund 0.1142% Oppenheimer Small Cap Value Fund 0.2768% Oppenheimer Value Fund 0.0322%

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2018 Unrecaptured Section 1250 Gain For ETFs.

Unrecaptured Section 1250 gain is the portion of a long-term capital gain distribution that is attributed to gains from certain depreciable real property. For many shareholders, this information is provided on Form 1099-DIV. You may need this information to complete your Form 1040 Schedule D.

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Fund 1250 GainOppenheimer Russell 1000 Size Factor ETF 32.9107%

2018 QII and QSTCG for Foreign Shareholders For Mutual Funds. ETFs are listed on page 18.

Certain mutual funds generate qualified interest income (QII) and/or qualified short-term capital gains (QSTCG) that may be exempt from tax withholding when distributed to foreign (non-U.S.) shareholders. The table below lists every Oppenheimer fund that distributed QII and/or QSTCG and may be exempt from U.S. withholding tax. Please consult your tax advisor for further information.

Continued on next page.

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Fund QII QSTCGOFI Carlyle Private Credit Fund 98.12% 0.00%OFI Pictet Global Environmental Solutions Fund 1.48% 100.00%Oppenheimer Capital Appreciation Fund 1.08% 100.00%Oppenheimer Capital Income Fund 52.48% 0.00%Oppenheimer Corporate Bond Fund1 78.87% 0.00%Oppenheimer Developing Markets Fund 3.28% 0.00%Oppenheimer Discovery Fund 0.00% 100.00%Oppenheimer Discovery Mid Cap Growth Fund 0.00% 100.00%Oppenheimer Dividend Opportunity Fund 0.87% 100.00%Oppenheimer Emerging Markets Local Debt Fund 3.59% 0.00%Oppenheimer Equity Income Fund 1.19% 0.00%Oppenheimer Fundamental Alternatives Fund 30.98% 0.00%Oppenheimer Global Allocation Fund 12.72% 100.00%Oppenheimer Global Focus Fund 0.00% 100.00%Oppenheimer Global Fund 0.61% 100.00%Oppenheimer Global High Yield Fund 73.60% 0.00%Oppenheimer Global Multi-Asset Income Fund 39.74% 0.00%Oppenheimer Global Opportunities Fund 0.00% 100.00%Oppenheimer Global Real Estate Fund 0.82% 100.00%Oppenheimer Global Strategic Income Fund 50.35% 0.00%Oppenheimer Global Unconstrained Bond Fund 12.60% 0.00%Oppenheimer Government Cash Reserves 99.95% 0.00%Oppenheimer Government Money Market Fund 99.94% 0.00%Oppenheimer International Bond Fund 6.57% 0.00%Oppenheimer International Diversified Fund 1.07% 0.00%Oppenheimer International Equity Fund 7.96% 0.00%Oppenheimer International Growth and Income Fund 2.03% 0.00%Oppenheimer International Growth Fund 2.67% 0.00%Oppenheimer International Small-Mid Company Fund 7.39% 100.00%Oppenheimer Limited-Term Bond Fund 79.00% 0.00%Oppenheimer Limited-Term Government Fund 91.00% 0.00%Oppenheimer Macquarie Global Infrastructure Fund 0.84% 100.00%Oppenheimer Main Street All Cap Fund 1.29% 100.00%Oppenheimer Main Street Fund 1.47% 100.00%Oppenheimer Main Street Mid Cap Fund 3.93% 100.00%Oppenheimer Main Street Small Cap Fund 2.10% 100.00%

2018 QII and QSTCG for Foreign Shareholders For Mutual Funds. ETFs are listed on page 18.

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Fund QII QSTCGOppenheimer Mid Cap Value Fund 3.09% 100.00%Oppenheimer Portfolio Series: Active Allocation Fund 18.39% 0.00%Oppenheimer Portfolio Series: Conservative Investor Fund 55.46% 0.00%Oppenheimer Portfolio Series: Equity Investor Fund2 1.48% 0.00%Oppenheimer Portfolio Series: Moderate Investor Fund 37.40% 0.00%Oppenheimer Preferred Securities and Income Fund 20.48% 0.00%Oppenheimer Real Estate Fund 0.09% 0.00%Oppenheimer Rising Dividends Fund 1.21% 0.00%Oppenheimer Senior Floating Rate Fund 81.94% 0.00%Oppenheimer Senior Floating Rate Plus Fund 81.16% 0.00%Oppenheimer Small Cap Value Fund 0.50% 0.00%Oppenheimer SteelPath MLP & Energy Infrastructure Fund 0.34% 0.00%

Oppenheimer Total Return Bond Fund 64.01% 0.00%

Oppenheimer Ultra-Short Duration Fund 78.59% 0.00%

Oppenheimer Value Fund 1.41% 100.00%


1. On January 14, 2019, Oppenheimer Corporate Bond Fund was renamed OppenheimerIntermediate Income Fund.

2018 QII and QSTCG for Foreign Shareholders For ETFs.

Certain Exchange-Traded Funds (ETFs) generate qualified interest income (QII) and/or qualified short-term capital gains (QSTCG) that may be exempt from tax withholding when distributed to foreign (non-U.S.) shareholders. The table below lists every Oppenheimer ETF that distributed QII and/or QSTCG and may be exempt from U.S. withholding tax. Please consult your tax advisor for further information.

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Fund QII QSTCG

Oppenheimer Emerging Markets Revenue ETF 0.09% 100.00%

Oppenheimer Emerging Markets Ultra Dividend Revenue ETF 0.09% 0.00%

Oppenheimer ESG Revenue ETF 0.15% 100.00%

Oppenheimer Global ESG Revenue ETF 0.08% 0.00%

Oppenheimer Global Revenue ETF 0.16% 0.00%

Oppenheimer International Revenue ETF 0.13% 0.00%

Oppenheimer International Ultra Dividend Revenue ETF 0.11% 0.00%

Oppenheimer Russell 1000 Dynamic Multifactor ETF 0.15% 0.00%

Oppenheimer Russell 1000 Low Volatility Factor ETF 0.14% 0.00%

Oppenheimer Russell 1000 Momentum Factor ETF 0.16% 0.00%

Oppenheimer Russell 1000 Quality Factor ETF 0.15% 0.00%

Oppenheimer Russell 1000 Size Factor ETF 0.19% 100.00%

Oppenheimer Russell 1000 Value Factor ETF 0.12% 0.00%

Oppenheimer Russell 1000 Yield Factor ETF 0.09% 0.00%

Oppenheimer Russell 2000 Dynamic Multifactor ETF 0.24% 0.00%

Oppenheimer S&P 500 Revenue ETF 0.14% 0.00%

Oppenheimer S&P Financials Revenue ETF 0.14% 0.00%

Oppenheimer S&P MidCap 400 Revenue ETF 0.16% 0.00%

Oppenheimer S&P SmallCap 600 Revenue ETF 0.16% 0.00%

Oppenheimer S&P Ultra Dividend Revenue ETF 0.07% 0.00%

mutual funds · shares of oppenheimer funds are not deposits or obligations of any bank, are not...

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