ALLSPRING INCOME OPPORTUNITIES FUND

# Allspring Income Opportunities Fund

A closed-end fixed income mutual fund, Allspring Income Opportunities Fund (formerly Wells Fargo Advantage Funds) invests primarily in below-investment-grade debt securities, high-yield bonds, bank loans, and preferred stocks. The fund targets fixed income securities rated Ba or lower by Moody's Investors Service or BB or lower by Standard & Poor's Ratings Group, benchmarking performance against the Merrill Lynch High Yield Index. The fund was established in February 2003 and is domiciled in the United States.

The fund is launched and managed by Wells Fargo Funds Management, LLC, with co-management provided by Wells Capital Management Incorporated. As a closed-end fund structure, it issues a fixed number of shares that trade on the New York Stock Exchange under ticker EAD, distinguishing it from open-end mutual funds. The fund generates returns through interest income on its fixed income holdings and seeks to provide current income to shareholders, supplemented by capital appreciation potential inherent in high-yield securities.

The fund operates within the asset management sector as part of the Wells Fargo financial services ecosystem. As a specialized fixed income vehicle, it serves investors seeking exposure to higher-yielding debt markets with accompanying credit risk typical of non-investment-grade securities.