As of June 30, 2021 Collective Fund fact sheet wellsfargoassetmanagement.com/collective /Lazard International Equity CIT

Asset class: International Equity

Class CUSIP Ticker Sector allocation (%) F 94987Q334 LZINTF 25 20 FUND OBJECTIVE This Collective Trust ("CIT", "the 15 Fund", or "collective fund") seeks -term 10 growth of capital. 5 FUND STRATEGY 0 The Fund invests primarily in equity securities, principally common , of non-U.S. -5 with market capitalizations Communication Consumer Consumer Information services discretionary staples Energy Financials Health care Industria ls technolo gy Materials Real estate Utilities generally greater than $3 billion, that the Investment Advisor believes are undervalued Fund 7.0 11.2 8.8 4.6 14.3 8.9 23.2 5.7 6.6 3.4 6.3 based on their earnings, cash flow, or asset Index 5.0 13.0 10.5 3.2 16.9 12.4 15.5 9.1 7.9 3.0 3.4 values. Performance is measured relative to the Allocation 2.0 -1.8 -1.7 1.4 -2.6 -3.5 7.7 -3.4 -1.3 0.4 2.9 Morgan Stanley Capital International ("MSCI") variance Europe, Australasia, and Far East ("EAFE") Index. Sector allocations are as of the date specified above and subject to change without notice. Due to rounding, fund and index sums may not add up to exactly 100%. Excludes any cash or cash equivalents that may be held by the fund. TOP HOLDINGS (%) Geographic allocation (%) Hitachi,Ltd. 3.25 Europe(63) Medtronic Plc 2.94 Japan(16) RELX plc 2.78 North America(9) Asia/Pacific ex-Japan(7) Sanofi 2.52 Africa/Middle East(1) Vivendi SE 2.34 Latin America(1) ENGIE SA. 2.30 Vestas Wind Systems A/S 2.26 Geographic allocation is subject to change and may have changed since the date specified. Percent total may not add to 100% due to rounding and/or Volkswagen AG Pref 2.18 excluding cash and cash equivalents held by the fund. Enel SpA 1.99 ANNUALIZED ABB Ltd. 1.94 Year to Since Expense 3 Month 1 year 3 year 5 year 10 year Portfolio holdings are as-of the date specified above and are Total returns (%) date incep. ratio subject to change without notice. The holdings listed should not __ be considered recommendations to purchase or sell a particular Class F units 3.50 5.28 30.19 7.84 8.13 5.09 0.673 ______security. MSCI EAFE Index (Net)1 5.17 8.83 32.35 8.27 10.28 DEFINITIONS Past performance is no guarantee of future results. Current performance may be higher or lower than that quoted. Investment return and principal value will fluctuate so that units, when redeemed, may be worth more or less than their original costs. Performance for other unit classes will Class F: The F unit class is primarily available to differ due to different fee structures and other factors. All values are unaudited and subject to revision. The Fund’s total return for each period is plans when Wells Fargo exercises full calculated based on the change in the Fund’s daily which includes the aggregate of all of the investment contracts’ individual crediting investment discretion or acts in a 3(21) or 3(38) rates plus the yield on the cash portion of the Fund’s portfolio, net of fund expenses, primarily including audit, custody, fund accounting and fiduciary capacity. investment advisory expenses, charged to the Fund during the relevant period, but does not include the potential impact of taxes applicable to an investment in the fund. All income is reinvested in the Fund and reflected in the unit value. All investing involves risk, including the possible loss of principal. Benchmarks are provided for illustrative purposes only. Comparisons to benchmarks have limitations because benchmarks have volatility and other material characteristics that may differ from those of the fund. Because of these differences, benchmarks should not be relied upon as an accurate measure of comparison. The performance shown is compared to a broad-based index. Broad-based securities indices are unmanaged and are not subject to fees and expenses typically associated with investment products.

1. The Morgan Stanley Capital International (MSCI) Europe, Australasia, Far East (EAFE) Index (Net) is a free-float-adjusted market-capitalization-weighted index that is designed to measure the equity market performance of developed markets, excluding the U.S. and Canada. You cannot invest directly in an index. Source: MSCI. MSCI makes no express or implied warranties or representations and shall have no liability whatsoever with respect to any MSCI data contained herein. The MSCI data may not be further redistributed or used as a basis for other indexes or any securities or financial products. This report is not approved, reviewed, or produced by MSCI.

I NSTITUTIONAL USE ONLY As of June 30, 2021 Collective Fund fact sheet wellsfargoassetmanagement.com/collective Wells Fargo/Lazard International Equity CIT

Asset class: International Equity

EQUITY STYLE BOX Fund MSCI EAFE Index Performance and Fund ‡ INVESTMENT STYLE characteristics Fund (Net) volatility measures (Class F) Value Blend Growth yield 1.99% 2.30% -0.21 Large MARKET CAPITALIZATION P/E (trailing 12 month) 24.16x 24.49x 0.98 P/B 2.12x 1.95x Sharpe ratio 0.38

Medium Median market cap. ($B) 32.10 14.25 Standard deviation 17.38 5 year earnings growth (historic) 5.71% 6.08% R-squared 0.97 Portfolio turnover 46% – Information ratio -0.14 Number of holdings 70 845 Small Annual portfolio turnover as of 12-31-2020.

Fund information Fund sponsor and manager: Wells Fargo , N.A. Advisor: Lazard Asset Management, LLC Portfolio managers: Team Managed Class F Fiscal year-end Dec 31 Class inception date 09-17-2014 Expense ratio 0.673% Net asset value $14.01 Class assets ($M) $71.53 Fund assets ($M) $71.89 Units outstanding 5,106,362

Definitions and Risks: Dividend Yield is a financial ratio that shows how much a pays out in each year relative to its price. Price/Earnings (P/E) is the price of a share of a divided by earnings per share, usually calculated using the latest year’s earnings. Price/Book (P/B) is the ratio used to compare a stock’s market value with its book value. It is calculated by dividing the current closing price of the stock by the latest quarter’s book value per share. Median Market Cap is the midpoint of market capitalization (marketprice multiplied bythe number of shares outstanding) of the stocks in a portfolio. Halfthe stocks inthe portfoliowill have higher marketcapitalizations; half will have lower. 5-year earnings growth rate of a fund is the weighted median of the annualized rate of earnings-per-share growth over the trailing five-year period for the stocks held within a fund. . Portfolio turnover is calculated by taking either the total amount of new securities purchased or the amount of securities sold (whichever is less) over a particular period, divided by the total net asset value of the fund. Alpha measures the excess return of an investment vehicle, such as a mutual fund, relative to the return of its benchmark, given its level of risk (as measured by beta). Beta measures fund volatility relative to general market movements. It is a standardized measure of systematic risk in comparison to a specified index. The benchmark beta is 1.00 by definition. Sharpe ratio measures the potential reward offered by a mutual fund relative to its risk level. The ratio uses a fund’s standard deviation and its excess return to determine reward per unit of risk. The higher the Sharpe ratio, the better the fund’s historical risk-adjusted performance. Standard deviation of return measures the average deviations of a return series from its mean and is often used as a measure of risk. R-squared is a measurement of how similar a fund’s historical performance has been to that of the benchmark. The measure ranges from 0.00, which means that the fund’s performance bears no relationship to the performance of the index, to 1.00, which means that the fund’s performance was perfectly synchronized with the performance of the benchmark. Information ratio measures how much the fund outperformed the benchmark per unit of additional risk taken. This value is determined by taking the annualized excess return over a benchmark and dividing it by the standard deviation of excess return. ‡Calculated based on a three-year period. Relative measures are compared with the MSCI EAFE Index (Net) (USD). Risks: Investing in foreign securities involves certain risks that may not be present in domestic securities. For example, in foreign and emerging markets present special risks including currency fluctuation, the potential for diplomatic and political instability, regulatory and liquidity risks, foreign taxation and differences in auditing and other financial standards.

Wells Fargo & Company is not affiliated with Lazard Asset Management, LLC. For more complete information concerning this Fund, including risks and expenses, please obtain a copy of the most recent Disclosure Statement at wellsfargoassetmanagement.com/collective and read it carefully before investing in the Fund. A collective fund (CIT) is a pooled investment vehicle that is exempt from SEC registration as an under Section 3(c)(11) of the Investment Company Act of 1940 and maintained by a bank or trust company for the collective investment of qualified retirement plans. CITs are authorized by the Office of the Comptroller of the Currency (OCC) and are also known as “A2” funds, referring to the section in OCC rules that defines them. The Fund is not a mutual fund and not subject to the same registration requirements and restrictions as mutual funds. © 2021 Wells Fargo Bank, N.A. All rights reserved. CAR-1118-02882-CF064-F07-21