Allspring Global Investments Singapore PTE Ltd

Item 5: Fees and compensation
Allspring Singapore acts as sub-adviser pursuant to an agreement with Allspring Investments rendering fully
discretionary investment management services in connection with certain accounts and funds for which Allspring
Investments serves as investment adviser. As sub-adviser, Allspring Singapore is entitled to receive from Allspring
Investments a portion of its annual advisory fee from the sub-advised clients. If Allspring Singapore sub-advises
accounts or funds that are charged a performance-based fee by Allspring Investments, Allspring Singapore will be
entitled to receive from Allspring Investments a portion of its performance-based fee as well.

Allspring Singapore may receive up to 50% of the gross fee that Allspring Investments charges its clients. The fee
that Allspring Singapore will receive will be paid by Allspring Investments, generally in arrears.

For additional information related to the performance-based fees Allspring Singapore may receive, refer to Item 6 –
Performance-based fees and side-by-side management.

Allspring Singapore also provides research services to Allspring Investments and may receive a fee equal to its cost
of preparing such research plus a mark-up equal to a percentage of its cost.

End clients may pay other fees and expenses in connection with Allspring Singapore’s management of all or a portion
of their account. These include both account-level and investment-level costs.

Account-level fees
The most common fees and expenses aside from the advisory fee that will apply if a client establishes a discretionary
account that is managed by Allspring Investments and sub-advised by Allspring Singapore are: brokerage
commissions (if applicable depending on type of securities) and transaction charges associated with buying and
selling securities; custody fees the client pays directly to the broker-dealer or bank that holds (a.k.a., “custodies”)
the assets; and other transactional fees (e.g., interest on margin balances, wire fees).

Allspring Singapore does not receive any of these non-advisory service fees (e.g., brokerage commissions and other
transaction charges, custodial fees, transfer taxes or sales loads or similar charges). In certain instances, however,
affiliates of Allspring Singapore may receive non-advisory service fees in connection with the sub-advisory or
portfolio management services Allspring Singapore provides in connection with end client accounts. For additional
information related to Allspring Singapore’s brokerage practices, refer to Item 12.

Investment-level fees
Different investments have different costs to buy, sell and hold. These costs are explained in product-specific
materials, which are available from Allspring Investments with respect to products for which Allspring Singapore
serves as sub-adviser. When considering account-level fees, end clients should be aware that client accounts
invested in mutual funds, money market funds, exchange-traded funds, private funds or similar securities, will also
bear their proportionate share of fees paid at the fund level.

Two-levels of fees
If an end client account is invested in a fund, including an exchange traded fund, sponsored, advised or otherwise
serviced by an Allspring company (i.e. an affiliated fund), Allspring Singapore and/or its affiliates will receive fees
that are paid at the fund-level. As a result, clients will pay Allspring Investments and, indirectly, Allspring Singapore
and its affiliates two levels of fees on the portion of a client's account invested in affiliated funds. The receipt of two
levels of fees creates an incentive for Allspring Singapore to select and retain affiliated funds, rather than unaffiliated
funds, for an end client’s account. In order to mitigate this potential conflict, Allspring Investments and, accordingly,

                                                              ALLSPRING GLOBAL INVESTMENTS (SINGAPORE) PTE. LTD.
                                                                                                    BROCHURE

Allspring Singapore generally will not receive advisory fees from both the end client’s separate account and the
affiliated fund in which the separate account is invested. Allspring Investments will exclude the portion of a client’s
account invested in affiliated funds when calculating its account-level advisory fee or otherwise offset the account-
level advisory fee by the advisory fees paid at the fund level. Such rebate or reduction will not eliminate the conflict
and Allspring Singapore may nevertheless have a financial incentive to favor affiliated fund investments (for example,
to increase the assets under management of, or otherwise provide support to certain funds, products or lines of
business). In limited instances, and when permitted and agreed upon with the end client, Allspring Investments and,
indirectly, Allspring Singapore may receive advisory fees from both the end client’s separate account and the
affiliated fund in which the separate account is invested.

End clients should consider all the foregoing additional compensation to Allspring companies when evaluating the
amount and appropriateness of the fees that are paid to Allspring Investments as adviser to their advisory account(s)
sub-advised by Allspring Singapore.

Sub-Advisory Fees
In connection with the investment advisory services Allspring Singapore provides, Allspring Singapore engages
affiliated investment advisers (each an affiliated “Sub-adviser”) at times to implement investment recommendations.
In accordance with its agreement with each affiliated Sub-adviser, Allspring Singapore pays a portion of the advisory
fees that it receives to the Sub-adviser for its sub-advisory services and retains the remainder as revenue. Allspring
Singapore has an incentive to select affiliated Sub-advisers over unaffiliated Sub-advisers because a greater portion
...

Item 7: Types of clients
Allspring Singapore is authorized to provide services in connection with a number of institutional end clients,
such as certain types of:
•   Corporations or other business entities
•   Banking or thrift institutions
•   Pooled investment vehicles, including registered and private funds
•   Insurance organizations
•   Financial intermediaries
•   Foundations, endowments and trusts
•   Pension and profit-sharing plans (other than plan participants)
•   Taft-Hartley plans, governmental plans, and unions
•   Governmental bodies, government owned entities, public funds, local authorities and municipalities
•   Charitable organizations and non-profit entities

Allspring Singapore does not provide advisory services directly to retail clients.

Client Account anti-money laundering & Privacy obligations
To help the government fight the funding of terrorism and money laundering activities, federal law requires certain
financial institutions to obtain, verify, and record information that identifies each client who opens an account or
establishes a relationship. Accordingly, when Allspring Investments establishes a relationship with a client, when
appropriate, it asks for the client’s name, address, and other information or documentation that will allow Allspring
Investments to identify and verify the client and the source of client funds that are being invested.

Allspring Singapore has adopted policies and procedures regarding the collection, use, disclosure and destruction
of personal information about Allspring’s clients. Consistent with its contractual obligations, privacy policies and
applicable laws, Allspring Singapore and its affiliates may share client information with affiliates and third-party
service providers throughout the world to the extent necessary and on a need-to-know basis. Allspring’s third-party
service providers are subject to security and confidentiality obligations and are only permitted to process client
information for a specified, legitimate business purpose and in accordance with our instructions. Allspring Singapore
has implemented appropriate physical, technical, organizational, and security measures to prevent client
information from unauthorized access and from being accidentally lost, altered, or misused. Additionally, Allspring
Singapore has put in place procedures to deal with any suspected data security breach and will notify clients and
any applicable regulator of a suspected breach where it is legally required to do so. For additional information on
how Allspring Singapore may process client information, please see our privacy notices at allspringglobal.com.

                                                               ALLSPRING GLOBAL INVESTMENTS (SINGAPORE) PTE. LTD.
                                                                                                     BROCHURE