Market Overview

Wells Fargo Closed-End Funds Declare Monthly and Quarterly Distributions

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The Wells Fargo Income Opportunities Fund (NYSE:EAD), the
Wells Fargo Multi-Sector Income Fund (NYSE:ERC), the Wells
Fargo Utilities and High Income Fund (NYSE:ERH) and the Wells
Fargo Global Dividend Opportunity Fund (NYSE:EOD) have each announced a
distribution.

           
Ticker  

Fund name

 

Distribution
per share

  Frequency  

Change from
prior
distribution

EAD Wells Fargo Income Opportunities Fund $0.05197 Monthly
ERC* Wells Fargo Multi-Sector Income Fund $0.10613 Monthly -$0.00053
ERH Wells Fargo Utilities and High Income Fund $0.07500 Monthly
EOD* Wells Fargo Global Dividend Opportunity Fund $0.15956 Quarterly -$0.00411
 

The following dates apply to today's distribution declaration for each
fund:

Declaration date August 15, 2018
Ex-dividend date September 14, 2018
Record
date September 17, 2018
Payable date October 1, 2018

*This fund makes distributions in accordance with a managed distribution
plan that provides for the declaration of monthly distributions (in the
case of the Wells Fargo Multi-Sector Income Fund) or quarterly
distributions (in the case of the Wells Fargo Global Dividend
Opportunity Fund) to common shareholders of the fund at an annual
minimum fixed rate of 9% for the Wells Fargo Multi-Sector Income Fund
and 10% for the Wells Fargo Global Dividend Opportunity Fund based on
the fund's average monthly net asset value (NAV) per share over the
prior 12 months. Under the managed distribution plan, distributions are
sourced from income and also may be sourced from paid-in capital and/or
capital gains. The fund's distributions in any period may be more or
less than the net return earned by the fund on its investments and
therefore should not be used as a measure of performance or confused
with yield or income. Distributions in excess of fund returns will cause
the fund's NAV to decline. Investors should not draw any conclusions
about the fund's investment performance from the amount of its
distribution or from the terms of its managed distribution plan.

The Wells Fargo Income Opportunities Fund is a closed-end high-yield
bond fund. The fund's investment objective is to seek a high level of
current income. The fund may, as a secondary objective, seek capital
appreciation to the extent it is consistent with its investment
objective.

The Wells Fargo Multi-Sector Income Fund is a closed-end income fund.
The fund's investment objective is to seek a high level of current
income consistent with limiting its overall exposure to domestic
interest rate risk.

The Wells Fargo Utilities and High Income Fund is a closed-end equity
and high-yield bond fund. The fund's investment objective is to seek a
high level of current income and moderate capital growth, with an
emphasis on providing tax-advantaged dividend income.

The Wells Fargo Global Dividend Opportunity Fund is a closed-end equity
and high-yield bond fund. The fund's investment objective is to seek a
high level of current income. The fund's secondary objective is
long-term growth of capital.

The final determination of the source of all distributions is subject to
change and is made after year-end. Each fund will send shareholders a
Form 1099-DIV for the calendar year that will tell shareholders how to
report these distributions for federal income tax purposes.

For more information on Wells Fargo's closed-end funds, please visit
our website
.

These closed-end funds are no longer engaged in initial public
offerings, and shares are available only through broker/dealers on the
secondary market.
Unlike an open-end mutual fund, a closed-end fund
offers a fixed number of shares for sale. After the initial public
offering, shares are bought and sold through broker/dealers in the
secondary marketplace, and the market price of the shares is determined
by supply and demand, not by NAV, and is often lower than the NAV. A
closed-end fund is not required to buy its shares back from investors
upon request.

High-yield, lower-rated bonds may contain more risk due to the increased
possibility of default. Foreign investments may contain more risk due to
the inherent risks associated with changing political climates, foreign
market instability, and foreign currency fluctuations. Risks of
international investing are magnified in emerging or developing markets.
Funds that concentrate their investments in a single industry or sector
may face increased risk of price fluctuation over more diversified funds
due to adverse developments within that industry or sector. Small- and
mid-cap securities may be subject to special risks associated with
narrower product lines and limited financial resources compared with
their large-cap counterparts. When interest rates rise, the value of
debt securities tends to fall. When interest rates decline, interest
that a fund is able to earn on its investments in debt securities also
may decline, but the value of those securities may increase. Changes in
market conditions and government policies may lead to periods of
heightened volatility in the debt securities market and reduced
liquidity for certain fund investments. Interest rate changes and their
impact on the funds and their NAVs can be sudden and unpredictable.

The use of leverage results in certain risks, including, among others,
the likelihood of greater volatility of the NAV and the market price of
common shares. Derivatives involve additional risks, including interest
rate risk, credit risk, the risk of improper valuation, and the risk of
noncorrelation to the relevant instruments they are designed to hedge or
to closely track. There are numerous risks associated with transactions
in options on securities. Illiquid securities may be subject to wide
fluctuations in market value and may be difficult to sell.

Wells Fargo Asset Management (WFAM) is the trade name for certain
investment advisory/management firms owned by Wells Fargo & Company.
These firms include but are not limited to Wells Capital Management
Incorporated and Wells Fargo Funds Management, LLC. Certain products
managed by WFAM entities are distributed by Wells Fargo Funds
Distributor, LLC (a broker/dealer and Member FINRA).

This material is for general informational and educational purposes only
and is NOT intended to provide investment advice or a recommendation of
any kind—including a recommendation for any specific investment,
strategy, or plan.

315140 8-18

Some of the information contained herein may include forward-looking
statements about the expected investment activities of the funds. These
statements provide no assurance as to the funds' actual investment
activities or results. The reader must make his/her own assessment of
the information contained herein and consider such other factors as
he/she may deem relevant to his/her individual circumstances.

NOT FDIC INSURED • NO BANK GUARANTEE • MAY LOSE VALUE

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