Charlotte, North Carolina, October 30th / PRNewswire / — Allspring Income Opportunities Fund (New York Stock Exchange American Market: EAD), Allspring Multi - Sector Income Fund (New York Stock Exchange American Market: ERC), as well as Allspring Utilities and High Income Fund (New York Stock Exchange American Market: ERH), have all announced a distribution.

The following dates apply to the distributions announced by each fund today:

These funds are distributed in accordance with a managed distribution plan, which stipulates monthly distributions to the shareholders of the fund's common shares. The minimum annualized fixed rates are as follows: Allspring Utilities, and, and High Income Fund at 8.00%; Allspring Income Opportunities Fund at 8.75%; and Allspring Multi to Sector Income Fund at 8.75%. The aforementioned rates are based on the average monthly net asset value per share of each fund over the past 12 months ( NAV ). According to this managed distribution plan, distributions can come from earnings, as well as from paid-in capital and/or capital gains. The amount distributed by the fund at any given time may be higher or lower than the net returns obtained from its investments; therefore, it should not be used as a measure of performance, nor should it be confused with yield or income. Distributions that exceed the fund's returns will lead to a decrease in the fund's net asset value. Investors should not make any judgments about the investment performance of the fund based solely on the amount distributed or on the terms of its managed distribution plan.

Allspring Income Opportunities Fund is a closed-end high-yield bond fund. Its investment objective is to seek a relatively high level of current income. As a secondary objective, the fund may also aim for capital appreciation, provided that this is consistent with its primary investment goals.

Allspring Multi - Sector Income Fund is a closed-end income fund. Its investment objective is to seek a higher level of current income while limiting the overall domestic interest rate risk exposure.

Allspring Utilities and High Income Fund is a closed-end stock and high-yield bond fund. Its investment objective is to seek a higher level of current income and moderate capital growth while emphasizing the provision of tax-advantaged dividend income.

The final determination of the sources for all dividend distributions for this year will be made after the end of the fiscal year. The actual amounts and their sources, which will be used for tax purposes, will depend on the investment performance of the fund during the remaining period of this fiscal year and may change due to tax regulations. Each fund will send a Form 1099- DIV form applicable to the calendar year to its shareholders, informing them on how to declare these distributions for federal income tax purposes.

For more information about the Allspring closed-end fund, please visit www.allspringglobal.com.

The shares of these closed-end funds can only be bought and sold at their current market prices on the exchanges where they are listed. The trading price of fund shares may be at a premium or discount relative to the net asset value of the fund, and there is no guarantee that the discount will narrow. The value of the securities held by the fund and/or the income generated therefrom may decline due to overall market conditions or other factors, including factors directly related to the issuers of those securities.

The value of stocks and securities can fluctuate due to specific factors of the issuer. Debt securities face credit risk and interest rate risk, while high-yield securities and unrated securities with similar credit quality carry a much greater risk of default, and their value is also more volatile than that of securities with similar maturities and higher ratings. Foreign investments may be subject to additional risks due to changes in the political environment, instability in overseas markets, and fluctuations in foreign exchange. The risks associated with international investments in emerging or developing markets are further amplified. Funds that concentrate their investments in a single industry or sector may face higher price volatility risks than more diversified funds due to adverse developments in that industry or sector. Small-cap and mid-cap securities may face unique risks compared to large-cap securities due to their narrower product lines and limited financial resources. Each fund utilizes leverage through revolving credit arrangements and may also increase leverage in the future by issuing preferred stocks.

The use of leverage carries several risks, including but not limited to a higher potential for volatility in the net asset value of funds and the market prices of common stocks. Derivatives involve additional risks, such as interest rate risk, credit risk, valuation risk, and risks that are not associated with the related instruments they are intended to hedge or closely track. There are also numerous risks associated with securities option trading.

Allspring Global Investments ™ is the trade name of an asset management company under Allspring Global Investments Holdings and LLC. This holding company is indirectly owned by several private funds managed by GTCR LLC, Reverence Capital Partners, and L.P. These companies include, but are not limited to, Allspring Global Investments, LLC, and Allspring Funds Management, LLC. Some products under Allspring are distributed by Allspring Funds Distributor and LLC (which is a brokerage firm and a member of FINRA / SIPC). Also associated with Allspring are Galliard Capital Management and LLC (this investment advisory firm is not part of the Allspring trade name or GIPS company).

This material is for general information and educational purposes only, and does not constitute nor intend to provide any form of investment advice or recommendations, including recommendations for any specific investment, strategy, or plan.

Some of the information may contain forward-looking statements regarding the fund's anticipated investment activities. These statements do not guarantee the actual investment activities or results of the fund. Readers must assess the information contained in this document on their own and consider it in conjunction with other factors they deem relevant to their own circumstances.

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