Figures quoted represent past performance, which is no guarantee of future results, and do not reflect taxes that a shareholder may pay on a fund. Yields will fluctuate. Current performance may be lower or higher than the performance data quoted and assumes the reinvestment of dividends and capital gains. Current month-end performance is available at the funds’ website, allspringglobal.com. Money market funds are sold without a front-end sales charge or contingent deferred sales charge. Other fees and expenses apply to an investment in the fund and are described in the fund’s current prospectus.

All assets under management quoted include all share classes in the fund.

*Government Money Market Funds
For government money market funds: You could lose money by investing in the fund. Although the fund seeks to preserve the value of your investment at $1.00 per share, it cannot guarantee it will do so. An investment in the fund is not insured or guaranteed by the Federal Deposit Insurance Corporation or any other government agency. The fund’s sponsor has no legal obligation to provide financial support to the fund, and you should not expect that the sponsor will provide financial support to the fund at any time.

**Floating NAV (FNAV) Money Market Funds
For floating NAV money market funds: You could lose money by investing in the fund. Because the share price of the fund will fluctuate, when you sell your shares they may be worth more or less than what you originally paid for them. The fund may impose a fee upon sale of your shares or may temporarily suspend your ability to sell shares if the fund’s liquidity falls below required minimums because of market conditions or other factors. An investment in the fund is not insured or guaranteed by the Federal Deposit Insurance Corporation or any other government agency. The fund’s sponsor has no legal obligation to provide financial support to the fund, and you should not expect that the sponsor will provide financial support to the fund at any time. A portion of the Municipal Cash Management Money Market Fund’s income may be subject to federal, state, and/or local income taxes or the Alternative Minimum Tax (AMT).

Fund expense ratios: Government Money Market Fund - Select (Gross: 0.18%, Net: 0.14%), Government Money Market Fund – I (Gross: 0.22%, Net: 0.20%), Government Money Market Fund – Admin (Gross: 0.34%, Net: 0.32%), Government Money Market Fund - Service(Gross: 0.49%, Net: 0.49%), Treasury Plus Money Market Fund - Select (Gross: 0.19%, Net: 0.14%), Treasury Plus Money Market Fund – I (Gross: 0.23%, Net: 0.20%), Treasury Plus Money Market Fund – Admin (Gross: 0.35%, Net: 0.34%), Treasury Plus Money Market Fund – Service (Gross: 0.52%, Net: 0.45%), 100% Treasury Money Market Fund - I (Gross: 0.23%, Net: 0.20%), 100% Treasury Money Market Fund - Admin (Gross: 0.35%, Net: 0.30%), 100% Treasury Money Market Fund – Service (Gross: 0.51%, Net: 0.50%), Heritage Money Market Fund - Select (Gross: 0.20%, Net: 0.13%), Heritage Money Market Fund – I (Gross: 0.24%, Net: 0.20%), Heritage Money Market Fund – Admin (Gross: 0.36%, Net: 0.33%), Heritage Money Market Fund – Service (Gross: 0.53%, Net: 0.43%), Municipal Cash Management Money Market Fund - I (Gross: 0.31%, Net: 0.20%), Municipal Cash Management Money Market Fund – Admin (Gross: 0.43%, Net: 0.30%), Municipal Cash Management Money Market Fund – Service (Gross: 0.60%, Net: 0.45%).

For all listed Money Market funds, the manager has contractually committed, through May 31, 2024, to waive fees and/or reimburse expenses to the extent necessary to cap Total Annual Fund Operating Expenses After Fee Waiver at the amount shown above. Brokerage commissions, stamp duty fees, interest, taxes, acquired fund fees and expenses (if any), and extraordinary expenses are excluded from the expense cap. Prior to or after the commitment expiration date, the cap may be increased or the commitment to maintain the cap may be terminated only with the approval of the Board of Trustees. The Manager and/or its affiliates may also voluntarily waive all or a portion of any fees to which they are entitled and/or reimburse certain expenses as they may determine from time to time.

Carefully consider a fund’s investment objectives, risks, charges, and expenses before investing. For a current prospectus and, if available, a summary prospectus, containing this and other information, visit allspringglobal.com. Read it carefully before investing.