F und shar es ar e NO T deposits or other obliga tions of ...

[Pages:5]Prospectus

December 1, 2021 as supplemented December 6, 2021, as supplemented January 28, 2022

U.S. Equity Funds

Fund Allspring Classic Value Fund Allspring Disciplined U.S. Core Fund Allspring Endeavor Select Fund Allspring Growth Fund Allspring Large Cap Core Fund Allspring Large Cap Growth Fund Allspring Large Company Value Fund Allspring Low Volatility U.S. Equity Fund Allspring Omega Growth Fund Allspring Premier Large Company Growth Fund

Class A EIVAX EVSAX STAEX SGRAX EGOAX STAFX WLCAX WLVLX EKOAX EKJAX

Class C EIVCX EVSTX WECCX WGFCX EGOCX STOFX WFLVX WLVKX EKOCX EKJCX

The U.S. Securities and Exchange Commission ("SEC") has not approved or disapproved these securities or passed upon the accuracy or adequacy of this Prospectus. Anyone who tells you otherwise is committing a crime.

SUPPLEMENT TO THE PROSPECTUSES, SUMMARY PROSPECTUSES AND STATEMENT OF ADDITIONAL INFORMATION OF ALLSPRING U.S. EQUITY FUNDS Allspring Large Company Value Fund (the "Fund")

Dennis Bein, CFA has announced his intention to retire from Allspring Global Investments, LLC on June 1, 2022. He will continue to serve as a portfolio manager of the Fund until June 1, 2022. After June 1, 2022, all references to Dennis Bein, CFA in the Fund's prospectuses and statement of additional are hereby removed.

March 15, 2022

LCR032/P101SP

SUPPLEMENT TO THE PROSPECTUSES, SUMMARY PROSPECTUSES AND STATEMENT OF ADDITIONAL INFORMATION OF ALLSPRING U.S. EQUITY FUNDS

For the Allspring Low Volatility U.S. Equity Fund (the "Fund")

At a meeting held on February 23-24, 2022, the Board of Trustees of Allspring Funds Trust unanimously approved the liquidation of the Fund.

Effective at the close of business on March 1, 2022, the Fund is closed to new investors and to additional investments from existing shareholders, except that existing retirement plans, benefit plans, retirement plan platforms and intermediary centrally managed (home office) model portfolios may continue to add new participants and make additional purchases until the Fund's liquidation.

The liquidation of the Fund is expected to occur after close of business on or about April 22, 2021. Shareholders of the Fund on the date of liquidation will receive a distribution of their account proceeds in complete redemption of their shares.

February 25, 2022

LCIT022/P104SP

SUPPLEMENT TO THE PROSPECTUSES, SUMMARY PROSPECTUSES AND STATEMENT OF ADDITIONAL INFORMATION OF ALLSPRING U.S. EQUITY FUNDS For the Allspring Classic Value Fund Allspring Omega Growth Fund (each a "Fund", together the "Funds")

At a meeting held February 23-24, 2022, the Board of Trustees of the Funds approved the following name changes, effective on or about May 2, 2022.

Current Fund Name

New Fund Name Effective on or about May 2, 2022

Allspring Classic Value Fund Allspring Omega Growth Fund

Allspring Special Large Cap Value Fund Allspring Discovery All Cap Growth Fund

February 25, 2022

SCIT022/P204SP

SUPPLEMENT TO THE PROSPECTUSES, SUMMARY PROSPECTUSES AND STATEMENT OF ADDITIONAL INFORMATION OF ALLSPRING U.S. EQUITY FUNDS

For the Allspring Endeavor Select Fund (the "Fund")

At a meeting held February 23-24, 2022, the Board of Trustees of the Fund approved the following changes, effective on or about May 2, 2022.

I. Name Change The Fund will change its name to the Allspring Discovery Large Cap Growth Fund.

II. Principal Investment Strategy Changes The section entitled "Fund Summary - Principal Investment Strategies" is deleted and replaced with the following:

Under normal circumstances, we invest:

? at least 80% of the Fund's total assets in large cap equity securities; and ? up to 25% of the Fund's total assets in equity securities of foreign issuers through ADRs and similar investments.

We may also invest in equity securities of foreign issuers, through ADRs and similar investments. We invest principally in the equity securities of approximately 30 to 40 large capitalization companies that we believe offer the potential for capital growth. We define large-capitalization companies as those with market capitalizations within the range of the Russell 1000? Index at the time of purchase. The market capitalization range of the Russell 1000? Index was approximately $568.72 million to $2.48 trillion, as of October 31, 2021, and is expected to change frequently. We may also invest in equity securities of foreign issuers through ADRs and similar investments.

We seek to identify companies that have the prospect for strong sales and earnings growth rates, that enjoy a competitive advantage (for example, dominant market share) and that we believe have effective management with a history of making investments that are in the best interests of shareholders (for example, companies with a history of earnings and sales growth that are in excess of total asset growth). Furthermore, we seek to identify companies that embrace innovation and foster disruption using technology to maximize efficiencies, gain pricing advantages, and take market share from competitors. We view innovative companies as those that, among other characteristics, have the ability to advance new products or services through investment in research and development, that operate a business model that is displacing legacy industry incumbents, that are pursuing a large unmet need or total available market, and/ or that are benefitting from changes in demographic, lifestyle, or environmental trends. We believe innovation found in companies on the "right side of change" is often mispriced in today's public equity markets and is a frequent signal or anomaly that we seek to exploit through our investment process. We pay particular attention to how management teams allocate capital in order to drive future cash flow. Price objectives are determined based on industry-specific valuation methodologies, including relative price-to-earnings multiples, price-to-book value, operating profit margin trends, enterprise value to EBITDA (earnings before interest, taxes, depreciation and amortization) and free cash flow yield. In addition to meeting with management, we take a surround the company approach by surveying a company's vendors, distributors, competitors and customers to obtain multiple perspectives that help us make better investment decisions. Portfolio holdings are continuously monitored for changes in fundamentals. The team seeks a favorable risk/reward relationship to fair valuation, which we define as the value of the company (i.e., our price target for the stock) relative to where the stock is currently trading. We may invest in any sector, and at times the Fund may emphasize one or more particular sectors. We may choose to sell a holding when it no longer offers favorable growth prospects, reaches our target price, or to take advantage of a better investment opportunity.

February 25, 2022

LCNR022/P107SP

SUPPLEMENT TO THE PROSPECTUSES OF

Allspring Omega Growth Fund Allspring Precious Metals Fund Allspring Spectrum Growth Fund

Allspring Target 2045 Fund Allspring Target 2055 Fund

(the "Funds")

At a meeting held on January 27, 2022, shareholders of the Funds approved new investment management and sub-advisory agreements that will replace the interim investment management and sub-advisory agreements that went into effect upon the closing of the sale of Wells Fargo Asset Management (the "Interim Agreements"). Effective immediately, all references in the prospectuses to the Interim Agreements are deleted.

January 28, 2022

WBIT012/P804SP

Table of Contents

Fund Summaries

Classic Value Fund Summary................................................................................................................. 3 Disciplined U.S. Core Fund Summary ..................................................................................................... 7 Endeavor Select Fund Summary ............................................................................................................ 11 Growth Fund Summary......................................................................................................................... 15 Large Cap Core Fund Summary ............................................................................................................. 19 Large Cap Growth Fund Summary ......................................................................................................... 23 Large Company Value Fund Summary.................................................................................................... 27 Low Volatility U.S. Equity Fund Summary............................................................................................... 31 Omega Growth Fund Summary ............................................................................................................. 35 Premier Large Company Growth Fund Summary .................................................................................... 39

Details About the Funds

Classic Value Fund................................................................................................................................ 43 Disciplined U.S. Core Fund .................................................................................................................... 44 Endeavor Select Fund ........................................................................................................................... 45 Growth Fund ....................................................................................................................................... 46 Large Cap Core Fund ............................................................................................................................ 47 Large Cap Growth Fund ........................................................................................................................ 48 Large Company Value Fund................................................................................................................... 49 Low Volatility U.S. Equity Fund.............................................................................................................. 50 Omega Growth Fund ............................................................................................................................ 51 Premier Large Company Growth Fund ................................................................................................... 52 Description of Principal Investment Risks .............................................................................................. 53 Portfolio Holdings Information ............................................................................................................. 54 Pricing Fund Shares.............................................................................................................................. 55

Management of the Funds

The Manager ....................................................................................................................................... 56 The Sub-Adviser and Portfolio Managers ............................................................................................... 58 Multi-Manager Arrangement ................................................................................................................ 59

Table of Contents

Account Information

Share Class Eligibility............................................................................................................................ 60 Share Class Features ............................................................................................................................ 60 Reductions and Waivers of Sales Charges............................................................................................... 61 Compensation to Financial Professional and Intermediaries .................................................................... 63 Buying and Selling Fund Shares ............................................................................................................. 65 Exchanging Fund Shares ....................................................................................................................... 67 Frequent Purchases and Redemptions of Fund Shares ............................................................................ 67 Account Policies................................................................................................................................... 69 Distributions........................................................................................................................................ 70

Other Information

Taxes .................................................................................................................................................. 71 Financial Highlights .............................................................................................................................. 72

Appendix A - Sales Charge Reductions and Waivers for Certain Intermediaries

Merrill Lynch........................................................................................................................................ 83 Ameriprise Financial ............................................................................................................................. 84 Morgan Stanley ................................................................................................................................... 84 Raymond James................................................................................................................................... 85 Janney Montgomery Scott LLC ............................................................................................................. 85 Edward Jones....................................................................................................................................... 86 Oppenheimer & Co. Inc. ........................................................................................................................ 88 Robert W. Baird & Co. ........................................................................................................................... 89

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