Allspring (Lux) Worldwide Fund - Global High Yield Fund Class S GBP Gross Hdg Inc

Objectives and Investment Policy The Sub-Fund seeks total return, by investing, under normal circumstances, at least two-thirds of its total assets in credit debtsecurities rated below-investment grade (i.e., BB+ or lower by Standard & Poor’s or Ba1 or lower by Moody’s or an equivalentquality rating from another internationally recognised credit ratings organisation or are deemed by the Sub-InvestmentManagers to be of comparable quality) at the time of purchase, which may include Green Bonds and perpetual bonds, issuedby corporate issuers domiciled anywhere in the world. The Sub-Fund promotes environmental and/or social characteristics butdoes not have a sustainable investment objective. The Sub-Fund will invest no more than 10% of its net assets in securitiesissued or guaranteed by a single government issuer. The Sub-Fund may also invest up to 10% of its total assets in equitysecurities including those acquired as a result of an issuer’s compulsory conversion of its debt instruments into equity,participation in a rights offering, or the Sub-Investment Managers’ decision to convert convertible debt instruments intoequities. The Sub-Fund may invest up to 15% of its total assets in contingent convertible bonds. The Sub-Fund may invest no more than10% of its net assets in unrated, distressed or defaulted debt securities. Distressed securities are those debt securities ratedbelow Caa2 by Moody’s or CCC by Standard & Poor’s. Defaulted securities are those debt securities rated C by Moody’s or Dby Standard & Poor’s.The Sub-Fund will target to decarbonise by 2050. This is intended to be achieved by setting a decarbonisation profile for theSub-Fund at inception that has a carbon intensity that is at least 30% lower than the ICE BofA Developed Markets High YieldConstrained Index (USD Hedged). The assets within the Sub-Fund are then managed such that the decarbonisation profile willdecline annually with a trajectory to decarbonise by 2050. Through the use of a negative screening process, the Sub-Fundseeks to exclude certain securities in accordance with its exclusion policy. A copy of the methodology and list of excludedinvestments (including the revenue thresholds) is available under allspringglobal.com. Shareholders may also request a copyfrom the Fund or the Management Company.The Sub-Fund will hedge non-US Dollar-denominated investments to the US Dollar. The Sub-Fund may also use futures,forward contracts, options, or swap agreements, as well as other derivatives, for hedging, efficient portfolio management orinvestment purposes. The Sub-Fund focuses on bottom-up credit research with a focus on well-underwritten credits andrelative value, with security selection as the primary driver of returns, and seeks to balance income while targeting acompetitive yield to drive total returns. This share class intends to distribute dividends gross of expenses monthly. This shareclass will seek to be 100% hedged against the base currency of the fund with the objective ofminimising currency riskexposure. It may not be possible to always hedge the class 100% against fluctuations of the reference currency. You may sellyour shares on each business day when banks in Luxembourg are open for normal business and the New York Stock Exchangeis open for trading (a “Business Day”). The Sub-Fund is actively managed but uses the ICE BofA Developed Markets High Yield Constrained Index (USD Hedged)as areference for selecting investments and for performance comparison. The investments of the Sub-Fund may deviatesignificantly from the components of and their respective weightings in the benchmark.