Allspring High Yield Municipal Bond Fund - ETF Class

The ETF Class of the Allspring High Yield Municipal Bond Fund is an actively managed, exchange-listed share class of an existing municipal bond mutual fund, a series of Allspring Funds Trust. ETF Class shares are listed on Nasdaq and are not individually redeemable. The Fund also offers mutual fund share classes in a separate prospectus. Its fund-level objective is high current income exempt from federal income tax, plus capital appreciation. Its principal strategy, per the fund's November 2024 summary prospectus, is to invest at least 50% of total assets in municipal securities rated BBB and below or comparable unrated securities, commonly called high yield or junk bonds, with duration and yield-curve management. Allspring Funds Management, LLC is the adviser and Allspring Global Investments, LLC is the sub-adviser.