Allspring Closed-End Funds Declare Monthly Distributions and Announce a Portfolio Manager Change

, /PRNewswire/ -- The Allspring Income Opportunities Fund (NYSE American: EAD), the Allspring Multi-Sector Income Fund (NYSE American: ERC), and the Allspring Utilities and High Income Fund (NYSE American: ERH) have each announced a distribution. In addition, Andrew Reed, CFA, will be added as a portfolio manager to the Allspring Multi-Sector Income Fund, and Noah Wise, CFA, will be removed as a portfolio manager on the same fund, both effective on August 1, 2025. This fund will continue to be managed by Christopher Kauffman, CFA, Chris Lee, CFA, Michael Schueller, CFA, Lauren van Biljon, CFA, and Adam Hicks. There will be no change to the investment strategy of the fund. TICKER FUND NAME DISTRIBUTION PER SHARE FREQUENCY CHANGE FROM PRIOR DISTRIBUTION EAD Allspring Income Opportunities Fund $0.05352 Monthly +$0.00004 ERC Allspring Multi-Sector Income Fund $0.07221 Monthly +$0.00002 ERH Allspring Utilities and High Income Fund $0.08135 Monthly +$0.00073 The following dates apply to today's distribution declaration for each fund: Declaration date July 25, 2025 Ex-dividend date August 11, 2025 Record date August 11, 2025 Payable date September 2, 2025 About Andrew Reed, CFA Andrew Reed is a portfolio manager specializing in U.S. investment grade credit for the Plus Fixed Income team at Allspring Global Investments. In this capacity, he has oversight and portfolio management responsibilities for separate accounts, mutual funds, and commingled vehicles across a range of strategies. He joined Allspring from its predecessor firm, Wells Fargo Asset Management (WFAM). He joined WFAM as a credit research analyst on the Global Credit Research team, supporting multiple portfolio managers and fixed income strategies. Prior to this, Andrew served as a portfolio manager for BMO Asset Management and as a fixed income analyst for M&I Investment Management Corp. He began his investment industry career in 2000. Andrew earned a bachelor's degree in business administration with an emphasis in finance from the University of Wisconsin, Whitewater. He has earned the right to use the Chartered Financial Analyst® (CFA®) designation and is a member of CFA Institute and CFA Society Milwaukee. These funds make distributions in accordance with a managed distribution plan that provides for the declaration of monthly distributions to common shareholders of the fund at an annual minimum fixed rate of 8.00% for the Allspring Utilities and High Income Fund, 8.75% for the Allspring Income Opportunities Fund, and 8.75% for the Allspring Multi-Sector Income Fund based on the fund's average monthly net asset value (NAV) per share over the prior 12 months. Under the managed distribution plan, distributions are sourced from income and also may be sourced from paid-in capital and/or capital gains. The fund's distributions in any period may be more or less than the net return earned by the fund on its investments and therefore should not be used as a measure of performance or confused with yield or income. Distributions in excess of fund returns will cause the fund's NAV to decline. Investors should not draw any conclusions about the fund's investment performance from the amount of its distribution or from the terms of its managed distribution plan. The Allspring Income Opportunities Fund is a closed-end high-yield bond fund. The fund's investment objective is to seek a high level of current income. The fund may, as a secondary objective, seek capital appreciation to the extent it is consistent with its investment objective. The Allspring Multi-Sector Income Fund is a closed-end income fund. The fund's investment objective is to seek a high level of current income consistent with limiting its overall exposure to domestic interest rate risk. The Allspring Utilities and High Income Fund is a closed-end equity and high-yield bond fund. The fund's investment objective is to seek a high level of current income and moderate capital growth with an emphasis on providing tax-advantaged dividend income. The final determination of the source of all dividend distributions in the current year will be made after year-end. The actual amounts and sources of the amounts for tax-reporting purposes will depend upon a fund's investment experience during the remainder of the fiscal year and may be subject to change based on tax regulations. Each fund will send shareholders a Form 1099-DIV for the calendar year that will tell shareholders how to report these distributions for federal income tax purposes. For more information on Allspring's closed-end funds, please visit www.allspringglobal.com. These closed-end funds are no longer available in 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). Associated with Allspring is Galliard Capital Management, LLC (an investment advisor that is not part of the Allspring trade name/GIPS firm). 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. Some of the information contained herein may include forward-looking statements about the expected investment activities of the funds. These statements provide no assurance as to the funds' actual investment activities or results. Readers must make their own assessment of the information contained herein and consider such other factors as they may deem relevant to their individual circumstances. ALL-07212025-rasnw7r1 © 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

Allspring Closed-End Funds Declare Monthly Distributions and Announce a Portfolio Manager Change

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