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Allspring Closed-End Funds Announce Changes to their Portfolio Management Teams

1. Chris Lee, CFA, removed as a portfolio manager for the Allspring Funds. 2. Brian Keller, CFA, appointed as a new portfolio manager for Income Opportunities Fund. 3. Allspring manages over $611 billion, focusing on thoughtful investing. 4. The changes reflect a strategic shift in management for key funds. 5. The future performance of EOD may be influenced by new leadership.

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Why Neutral?

Management changes can affect performance, but long-term implications remain uncertain.

How important is it?

Portfolio manager changes can influence fund strategies and investor sentiment.

Why Short Term?

Immediate change may impact fund performance; longer-term effects depend on market conditions.

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EADERCERH
, /PRNewswire/ -- The Allspring Income Opportunities Fund (NYSE America: EAD), the Allspring Multi-Sector Income Fund (NYSE American: ERC), the Allspring Utilities and High Income Fund (NYSE American: ERH), and the Allspring Global Dividend Opportunities Fund (NYSE: EOD) announced today that Chris Lee, CFA, senior portfolio manager on Allspring Global Investments' Plus Fixed Income team will be removed as a portfolio manager from the funds as detailed in the table below. He will leave Allspring at the end of the year. At the same time, Brian Keller, CFA, will be named as a portfolio manager on the Income Opportunities Fund. Brian has been supporting high yield strategies at Allspring for 14 years in his capacity as a senior research analyst on the Global Fixed Income Research team. ALLSPRING FUND PORTFOLIO MANAGERS AS OF 01-OCT-25 PORTFOLIO MANAGERS AS OF 08-OCT-25 YEARS OF EXPERIENCE Global Dividend Opportunity Fund Justin Carr, CFA Vince Fioramonti, CFA Megan Miller, CFA Michael J. Schueller, CFA Steven Zhao Chris Lee, CFA Justin Carr, CFA Vince Fioramonti, CFA Megan Miller, CFA Michael J. Schueller, CFA Steven Zhao 24 36 19 26 16 24 Income Opportunities Fund Michael J. Schueller, CFA Chris Lee, CFA Michael J. Schueller, CFA Brian Keller, CFA 26 24 15 Multi-Sector Income Fund Adam Hicks Chris Kauffman, CFA Andrew Reed, CFA Michael J. Schueller, CFA Lauren van Biljon, CFA Chris Lee, CFA Adam Hicks Chris Kauffman, CFA Andrew Reed, CFA Michael J. Schueller, CFA Lauren van Biljon, CFA 17 27 24 26 17 24 Utilities and High Income Fund Kent Newcomb, CFA Michael J. Schueller, CFA Andy Smith, CFA Chris Lee, CFA Kent Newcomb, CFA Michael J. Schueller, CFA Andy Smith, CFA 39 26 29 24 About Brian Keller, CFA Brian Keller is a portfolio manager specializing in U.S. high yield for the Plus Fixed Income team at Allspring Global Investments. He joined Allspring from its predecessor firm, Wells Fargo Asset Management (WFAM). Prior to his current role, Brian was a senior research analyst for the Global Fixed Income Research team at Allspring. Previously he served as an intern for WFAM's Heritage Growth Equity team and for Bank of America/Merrill Lynch. He began his investment industry career in 2010. Brian earned bachelor's degrees in finance and accounting from the University of Wisconsin, Milwaukee. He has earned the right to use the Chartered Financial Analyst® (CFA®) designation. About Allspring Allspring Global Investments™ is an independent asset management firm with more than $611 billion in assets under advisement*, over 20 offices globally, and investment teams supported by 370+ investment professionals. Allspring is committed to thoughtful investing, purposeful planning, and inspiring a new era of investing that pursues both financial returns and positive outcomes. For more information, please visit www.allspringglobal.com. For more information on Allspring's closed-end funds, please visit www.allspringglobal.com. *As of June 30, 2025. Figures include discretionary and non-discretionary assets. CFA® and Chartered Financial Analyst® are trademarks owned by CFA Institute. These closed-end funds are no longer available in initial public offerings and are only offered through broker-dealers on the secondary market. A closed-end fund is not required to buy its shares back from investors upon request. Shares of a fund may trade at either a premium or discount relative to the fund's net asset value, and there can be no assurance that any discount will decrease. The values of, and/or the income generated by, securities held by a fund may decline due to general market conditions or other factors, including those directly involving the issuers of such securities. Equity securities fluctuate in value in response to factors specific to the issuer of the security. Debt securities are subject to credit risk and interest rate risk, and high-yield securities and unrated securities of similar credit quality have a much greater risk of default and their values tend to be more volatile than higher-rated securities with similar maturities. Foreign investments may contain more risk due to the inherent risks associated with changing political climates, foreign market instability, and foreign currency fluctuations. Risks of international investing are magnified in emerging or developing markets. Funds that concentrate their investments in a single industry or sector may face increased risk of price fluctuation over more diversified funds due to adverse developments within that industry or sector. Small- and mid-cap securities may be subject to special risks associated with narrower product lines and limited financial resources compared with their large-cap counterparts. Each fund is leveraged through a revolving credit facility and also may incur leverage by issuing preferred shares in the future. The use of leverage results in certain risks, including, among others, the likelihood of greater volatility of the net asset value and the market price of common shares. Derivatives involve additional risks, including interest rate risk, credit risk, the risk of improper valuation, and the risk of noncorrelation to the relevant instruments they are designed to hedge or closely track. There are numerous risks associated with transactions in options on securities. Allspring Global Investments™ is the trade name for the asset management firms of Allspring Global Investments Holdings, LLC, a holding company indirectly owned by certain private funds of GTCR LLC and Reverence Capital Partners, L.P. These firms include but are not limited to Allspring Global Investments, LLC, and Allspring Funds Management, LLC. Certain products managed by Allspring entities are distributed by Allspring Funds Distributor, LLC (a broker-dealer and Member FINRA/SIPC). This material is for general informational and educational purposes only and is NOT intended to provide investment advice or a recommendation of any kind—including a recommendation for any specific investment, strategy, or plan. ALL-10072025-6uei3rq4 © 2025 Allspring Global Investments Holdings, LLC. All rights reserved. SOURCE Allspring Global Investments WANT YOUR COMPANY'S NEWS FEATURED ON PRNEWSWIRE.COM? 440k+ Newsrooms & Influencers 9k+ Digital Media Outlets 270k+ Journalists Opted In

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