ALLSPRING UTILITIES & HIGH INCOME FUND

Allspring Utilities and High Income Fund is a closed-ended balanced mutual fund that invests in both public equities and fixed income securities within the United States. The fund is managed by Wells Fargo Funds Management LLC, with co-management from Crow Point Partners LLC and Wells Capital Management Incorporated. Its equity portfolio focuses on utility sector companies, including those operating in water, gas, electric, and telecommunications services across all market capitalizations. The fund's fixed income component targets non-investment grade securities to enhance yield.

The fund's dual-strategy approach generates returns through two primary revenue streams: capital appreciation from equity holdings and income from fixed income investments. The utility sector allocation provides exposure to essential service providers, while the high-yield bond component seeks to amplify income distribution. The fund was established in April 2004 and operates as a Delaware corporation.

As a closed-ended fund structure managed by the Wells Fargo asset management platform, the fund's scale reflects its position within the broader Wells Fargo Funds Management business, which operates across multiple investment strategies and distribution channels. The fund is listed on the NYSE and maintains operations centered in Charlotte, North Carolina, where Wells Fargo's headquarters is located.