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Semi-Annual Report 30 September 2020

Wells Fargo (Lux) Worldwide Fund

▪ Alternative Risk Premia Fund ▪ China Equity Fund ▪ Emerging Markets Equity Fund ▪ Emerging Markets Equity Income Fund ▪ EUR Investment Grade Credit Fund ▪ EUR Short Duration Credit Fund ▪ Global Equity Fund ▪ Global Equity Absolute Return Fund ▪ Global Equity Enhanced Income Fund ▪ Global Factor Enhanced Equity Fund ▪ Global Investment Grade Credit Fund ▪ Global Long/Short Equity Fund ▪ Global Low Volatility Equity Fund ▪ Global Multi-Asset Income Fund ▪ Global Opportunity Bond Fund ▪ Global Small Cap Equity Fund ▪ Small Cap Innovation Fund ▪ U.S. All Cap Growth Fund ▪ U.S. High Yield Bond Fund ▪ U.S. Large Cap Growth Fund ▪ U.S. Select Equity Fund ▪ U.S. Short-Term High Yield Bond Fund ▪ U.S. Small Cap Value Fund ▪ USD Government Money Market Fund ▪ USD Investment Grade Credit Fund

Alternative Risk Premia Fund, China Equity Fund, EUR Short Duration Credit Fund, Global Equity Enhanced Income Fund, Global Factor Enhanced Equity Fund, Global Investment Grade Credit Fund, Global Small Cap Equity Fund, Small Cap Innovation Fund and USD Government Money Market Fund have not been authorised by the Hong Kong Securities and Futures Commission and are not available for investment by Hong Kong retail investors. Wells Fargo (Lux) Worldwide Fund is incorporated with limited liability in the Grand Duchy of Luxembourg as a Société d’Investissement à Capital Variable under number RCS Luxembourg B 137.479. Registered office of Wells Fargo (Lux) Worldwide Fund: 80, route d’Esch, L-1470 Luxembourg, Grand Duchy of Luxembourg.

Table of Contents

Portfolio of investments Alternative Risk Premia Fund ...... 1 China Equity Fund ...... 2 Emerging Markets Equity Fund ...... 5 Emerging Markets Equity Income Fund ...... 10 EUR Investment Grade Credit Fund ...... 15 EUR Short Duration Credit Fund ...... 22 Global Equity Fund ...... 28 Global Equity Enhanced Income Fund ...... 30 Global Factor Enhanced Equity Fund ...... 33 Global Investment Grade Credit Fund ...... 45 Global Long/Short Equity Fund ...... 52 Global Low Volatility Equity Fund ...... 56 Global Small Cap Equity Fund ...... 63 Small Cap Innovation Fund ...... 67 U.S. All Cap Growth Fund ...... 70 U.S. High Yield Bond Fund ...... 73 U.S. Large Cap Growth Fund ...... 80 U.S. Select Equity Fund ...... 82 U.S. Short-Term High Yield Bond Fund ...... 84 U.S. Small Cap Value Fund ...... 87 USD Government Money Market Fund ...... 91 USD Investment Grade Credit Fund ...... 93

Statement of assets and liabilities ...... 99

Statement of operations and changes in net assets ...... 108

Statistics ...... 114

Notes to financial statements ...... 124

Other information ...... 161

Directors, administration and management ...... 162

General information ...... 164

Appendix I: Total expense ratios ...... 165

Appendix II: Performance ...... 171

Appendix III: Risk Management ...... 178

Appendix IV: Securities financing transactions ...... 179

Alternative Risk Premia Fund, China Equity Fund, EUR Short Duration Credit Fund, Global Equity Enhanced Income Fund, Global Factor Enhanced Equity Fund, Global Investment Grade Credit Fund, Global Small Cap Equity Fund, Small Cap Innovation Fund and USD Government Money Market Fund have not been authorised by the Hong Kong Securities and Futures Commission and are not available for investment by Hong Kong retail investors. Subscriptions are only valid if made on the basis of the current prospectus and the Key Investor Information Document (KIID) together with the last annual report, including audited financial statements or the last unaudited semi-annual report if it is more recent.

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Portfolio of investments as at 30 September 2020 (unaudited)

ALTERNATIVE RISK PREMIA FUND Interest Market % of Rate Maturity Nominal Value Net % Date USD USD Assets

Transferable securities and money market instruments admitted to an official stock exchange listing or dealt in on another regulated market

Government Bonds

United States United States Treasury Bill * 0.12 11/2/2021 4,300,000 4,298,332 12.63 United States Treasury Bill * 0.14 19/11/2020 2,000,000 1,999,631 5.88 United States Treasury Bill * 0.14 10/12/2020 2,000,000 1,999,630 5.88 United States Treasury Bill * 0.15 24/12/2020 2,000,000 1,999,533 5.88 United States Treasury Bill * 0.15 28/1/2021 2,000,000 1,999,331 5.88 United States Treasury Bill * 0.15 25/2/2021 2,000,000 1,999,173 5.88 United States Treasury Bill * 1.50 8/10/2020 4,300,000 4,298,762 12.63 United States Treasury Bill *+ 1.51 5/11/2020 170,000 169,755 0.50 United States Treasury Bill *+ 1.53 3/12/2020 3,200,000 3,199,468 9.40 Total Government Bonds 21,963,615 64.56 Total Investments in Securities 21,963,615 64.56

Nominal @

Cash at Banks

Time Deposits

Cayman Islands BBH Grand Cayman (o) 0.01 260 GBP 336 0.00

Singapore DBS Bank Limited (o) 0.01 134,262 USD 134,262 0.40

Sweden Skandinaviska Enskilda Banken AB (o) 0.01 4,238,533 USD 4,238,533 12.46

United Kingdom ANZ (o) 0.01 2,294,661 USD 2,294,661 6.74

United States Citibank (o) 0.01 750,000 USD 750,000 2.20 Total Time Deposits 7,417,792 21.80 Current Accounts at Bank 4,569,765 13.43 Total Cash at Banks 11,987,557 35.23

Other Assets and Liabilities, Net 72,229 0.21

Total Net Assets 34,023,401 100.00

* The interest rate represents the yield to maturity at time of purchase. + All or a portion of the security is segregated as collateral for investments in contracts for difference. @ Nominal amount is denominated in currency indicated. (o) Overnight deposit.

Key: GBP British Pound USD United States Dollar

The securities have been classified based upon country of incorporation/domiciliation.

The accompanying notes are an integral part of these financial statements.

Wells Fargo (Lux) Worldwide Fund | 1

Portfolio of investments as at 30 September 2020 (unaudited)

CHINA EQUITY FUND Market % of Value Net Industry Shares USD Assets

Transferable securities and money market instruments admitted to an official stock exchange listing or dealt in on another regulated market

Common Shares China Aier Eye Hospital Group Company Limited Healthcare – Services 58,370 444,097 2.66 Alibaba Group Holding Limited Internet 5,100 187,227 1.12 Beijing Oriental Yuhong Waterproof Technology Company Limited Building Materials 26,000 207,816 1.24 Beijing-Shanghai High Speed Railway Company Limited Transportation 244,800 211,830 1.27 BTG Hotels Group Company Limited Lodging 93,815 246,651 1.47 C&S Paper Company Limited Cosmetics/Personal Care 107,374 340,527 2.04 China Construction Bank Corporation Banks 456,600 414,784 2.48 China International Capital Corporation Limited Diversified Financial Services 69,600 161,872 0.97 China Merchants Bank Company Limited Banks 67,300 358,633 2.14 China Merchants Shekou Industrial Zone Holdings Company Limited Real Estate 110,800 248,802 1.49 China Telecom Corporation Limited Internet 686,000 206,107 1.23 China Tourism Group Duty Free Corporation Limited Retail 13,600 448,553 2.68 China Vanke Company Limited Real Estate 43,900 182,347 1.09 Chow Tai Seng Jewellery Company Limited Retail 44,500 164,000 0.98 CITIC Securities Company Limited Diversified Financial Services 142,000 319,378 1.91 Contemporary Amperex Technology Company Limited Electrical Components & Equipment 11,300 351,160 2.10 Ecovacs Robotics Company Limited Home Furnishings 39,894 273,526 1.64 Foxconn Industrial Internet Company Limited Electronics 97,700 196,794 1.18 GoerTek Incorporated Electronics 28,592 171,635 1.03 Gree Electric Appliances Incorporated of Zhuhai Home Furnishings 21,200 167,584 1.00 Hangzhou Hikvision Digital Technology Company Limited Electronics 61,343 346,652 2.07 Han’s Laser Technology Industry Group Company Limited Electronics 52,800 257,573 1.54 Hengli Petrochemical Company Limited Chemicals 68,200 187,526 1.12 Hundsun Technologies Incorporated Software 17,550 256,438 1.53 Iflytek Company Limited Software 45,700 232,055 1.39 Industrial Bank Company Limited Banks 122,400 291,996 1.75 Inner Mongolia Yili Industrial Group Company Limited Food 51,100 291,257 1.74 Jiangsu Hengrui Medicine Company Limited Pharmaceuticals 26,240 348,765 2.09 Jiangsu Yangnong Chemical Company Limited Chemicals 11,900 154,263 0.92 Kweichow Moutai Company Limited Beverages 2,500 617,308 3.69 Lepu Medical Technology Beijing Company Limited Healthcare – Products 60,598 302,020 1.81 Lomon Billions Group Company Limited Chemicals 81,750 282,133 1.69 Luxshare Precision Industry Company Limited Electronics 43,200 366,243 2.19 Midea Group Company Limited Home Furnishings 33,804 363,745 2.17 NARI Technology Company Limited Machinery – Diversified 63,588 185,605 1.11 Oppein Home Group Incorporated Home Furnishings 20,078 320,216 1.91 Ping An Bank Company Limited Banks 145,800 327,520 1.96 Ping An Insurance Group Company of China Limited Insurance 46,900 529,466 3.17 SF Holding Company Limited Transportation 27,994 337,188 2.02 Shanghai International Airport Company Limited Engineering & Construction 21,100 215,087 1.29

The accompanying notes are an integral part of these financial statements.

2 | Wells Fargo (Lux) Worldwide Fund

Portfolio of investments as at 30 September 2020 (unaudited)

CHINA EQUITY FUND Market % of Value Net Industry Shares USD Assets

Transferable securities and money market instruments admitted to an official stock exchange listing or dealt in on another regulated market

Common Shares (continued) China (continued) Shenzhen Gas Corporation Limited Oil & Gas Services 235,058 238,298 1.42 Shenzhen Inovance Technology Company Limited Electronics 31,500 270,370 1.62 Shenzhen Mindray Bio-Medical Electronics Company Limited Healthcare – Products 6,800 349,707 2.09 Shenzhen Sunway Communication Company Limited Telecommunications 33,000 267,254 1.60 Spring Airlines Company Limited Airlines 37,100 246,616 1.47 Toly Bread Company Limited Food 19,000 167,460 1.00 Universal Scientific Industrial Shanghai Company Limited Home Furnishings 54,100 205,395 1.23 Venustech Group Incorporated Computers 43,300 221,461 1.32 Vipshop Holdings Limited ADR Internet 10,600 165,784 0.99 Wanhua Chemical Group Company Limited Chemicals 16,400 168,605 1.01 Weichai Power Company Limited Auto Parts & Equipment 98,400 219,866 1.31 Wingtech Technology Company Limited Electronics 8,500 147,248 0.88 Wuhu Sanqi Interactive Entertainment Network Technology Group Company Limited Software 55,100 323,972 1.94 WuXi AppTec Company Limited Healthcare – Services 15,300 230,129 1.38 Wuxi Lead Intelligent Equipment Company Limited Electrical Components & Equipment 30,508 219,264 1.31 Yantai Jereh Oilfield Services Group Company Limited Oil & Gas Services 32,258 142,472 0.85 Yonghui Superstores Company Limited Food 323,200 374,173 2.24 Yonyou Network Technology Company Limited Software 30,949 175,173 1.05 Yum China Holdings Incorporated Retail 4,100 217,095 1.30 Zhongji Innolight Company Limited Distribution/Wholesale 31,374 233,949 1.40 Total Common Shares 16,100,670 96.29 Total Investments in Securities 16,100,670 96.29

Interest Rate % Nominal @ Cash at Banks Time Deposits Cayman Islands BBH Grand Cayman (o) (0.25) 58 SEK 6 0.00 BBH Grand Cayman (o) 0.01 6 HKD 1 0.00 7 0.00

United States Citibank (o) 0.01 661,316 USD 661,316 3.95 Total Time Deposits 661,323 3.95 Current Accounts at Bank 1,264 0.01 Total Cash at Banks 662,587 3.96

Other Assets and Liabilities, Net (40,976) (0.25) Total Net Assets 16,722,281 100.00

The accompanying notes are an integral part of these financial statements.

Wells Fargo (Lux) Worldwide Fund | 3

Portfolio of investments as at 30 September 2020 (unaudited)

@ Nominal amount is denominated in currency indicated. (o) Overnight deposit.

Key: ADR American Depository Receipt HKD Hong Kong Dollar SEK Swedish Krona USD United StatesDollar

The securities have been classified based upon country of incorporation/domiciliation.

The accompanying notes are an integral part of these financial statements.

4 | Wells Fargo (Lux) Worldwide Fund

Portfolio of investments as at 30 September 2020 (unaudited)

EMERGING MARKETS EQUITY FUND Market % of Value Net Industry Shares USD Assets

Transferable securities and money market instruments admitted to an official stock exchange listing or dealt in on another regulated market

Common Shares Argentina MercadoLibre Incorporated Internet 906 980,727 0.23

Brazil AmBev SA ADR Beverages 442,200 999,372 0.23 Atacadao SA Retail 486,000 1,773,205 0.41 B2W Companhia Digital Internet 418,799 6,710,150 1.55 B3 SA – Brasil Bolsa Balcao Diversified Financial Services 434,300 4,254,143 0.98 Banco Bradesco SA ADR Banks 438,470 1,503,952 0.35 BK Brasil Operacao e Assessoria a Restaurantes SA Retail 252,411 481,369 0.11 BRF SA ADR Food 856,150 2,808,172 0.65 Cogna Educacao Commercial Services 262,700 242,310 0.06 Hapvida Participacoes e Investimentos SA Healthcare – Services 175,886 1,946,181 0.45 Lojas Renner SA Retail 273,899 1,933,812 0.45 Multiplan Empreendimentos Imobiliarios SA Real Estate 128,506 444,608 0.10 Raia Drogasil SA Retail 140,500 585,927 0.14 23,683,201 5.48

Chile Banco Santander Chile ADR Banks 105,664 1,464,503 0.34 Falabella SA Retail 994,745 2,913,667 0.67 4,378,170 1.01

China 51job Incorporated ADR Internet 52,920 4,127,231 0.95 Agora Incorporated ADR Software 8,539 367,006 0.08 Alibaba Group Holding Limited Internet 65,000 2,386,223 0.55 Alibaba Group Holding Limited ADR Internet 48,518 14,263,322 3.30 BEST Incorporated ADR Transportation 352,507 1,057,521 0.24 Bilibili Incorporated ADR Software 259,839 10,809,302 2.50 China Distance Education Holdings Limited ADR Commercial Services 75,017 718,663 0.17 China Life Insurance Company Limited Insurance 2,190,000 4,964,678 1.15 China Literature Limited Internet 198,879 1,499,848 0.35 China Meidong Auto Holdings Limited Retail 1,072,000 4,129,955 0.95 CNOOC Limited Oil & Gas Services 3,032,000 2,916,415 0.67 FinVolution Group ADR Diversified Financial Services 340,173 625,918 0.14 GreenTree Hospitality Group Limited ADR Lodging 103,551 1,407,258 0.33 Hua Medicine Pharmaceuticals 642,611 413,756 0.10 Huami Corporation ADR Home Furnishings 228,233 2,932,794 0.68 iQIYI Incorporated ADR Internet 52,382 1,182,786 0.27 Jianpu Technology Incorporated ADR Diversified Financial Services 299,941 152,550 0.04 Koolearn Technology Holding Limited Commercial Services 723,445 3,108,305 0.72 Li Ning Company Limited Retail 2,569,827 12,091,805 2.80 Meituan Dianping Internet 406,800 12,814,731 2.96 New Oriental Education & Technology Group Incorporated ADR Commercial Services 51,788 7,742,306 1.79 Pinduoduo Incorporated ADR Internet 25,896 1,920,188 0.44 Shandong Weigao Group Medical Polymer Company Limited Healthcare – Products 1,620,000 3,241,332 0.75 SINA Corporation Internet 63,745 2,716,174 0.63 Tencent Holdings Limited Internet 332,600 22,464,932 5.19

The accompanying notes are an integral part of these financial statements.

Wells Fargo (Lux) Worldwide Fund | 5

Portfolio of investments as at 30 September 2020 (unaudited)

EMERGING MARKETS EQUITY FUND Market % of Value Net Industry Shares USD Assets

Transferable securities and money market instruments admitted to an official stock exchange listing or dealt in on another regulated market

Common Shares (continued) China (continued) Tongdao Liepin Group Internet 229,159 573,042 0.13 Trip.com Group Limited ADR Internet 153,885 4,791,979 1.11 Tsingtao Brewery Company Limited Beverages 435,520 3,563,824 0.82 Uxin Limited ADR Internet 305,000 265,258 0.06 Vipshop Holdings Limited ADR Internet 546,705 8,550,466 1.98 Want Want China Holdings Limited Food 5,443,000 3,803,457 0.88 Weibo Corporation ADR Internet 136,394 4,968,833 1.15 Xiaomi Corporation Telecommunications 2,696,800 7,300,306 1.69 Zhou Hei Ya International Holdings Company Limited Food 1,772,437 1,858,081 0.43 155,730,245 36.00

Colombia Bancolombia SA ADR Banks 46,500 1,188,075 0.27

Hong Kong AIA Group Limited Insurance 790,000 7,852,677 1.81 China Mobile Limited Telecommunications 1,551,000 9,956,312 2.30 Johnson Electric Holdings Limited Electrical Components & Equipment 350,825 764,511 0.18 Sun Art Retail Group Limited Retail 3,157,500 3,505,631 0.81 WH Group Limited Food 9,633,000 7,857,706 1.82 29,936,837 6.92

India Axis Bank Limited Banks 367,248 2,125,402 0.49 Bajaj Finance Limited Diversified Financial Services 30,752 1,377,750 0.32 Bandhan Bank Limited Banks 108,780 406,164 0.09 Bharti Airtel Limited Telecommunications 392,576 2,244,569 0.52 Dalmia Bharat Limited Building Materials 50,724 538,109 0.12 Fortis Healthcare Limited Healthcare – Services 413,989 759,925 0.18 HDFC Bank Limited ADR Banks 55,622 2,778,875 0.64 Housing Development Finance Corporation Limited Diversified Financial Services 83,400 1,976,805 0.46 ITC Limited Agriculture 1,386,500 3,239,100 0.75 Kotak Mahindra Bank Limited Banks 87,921 1,518,037 0.35 Max Financial Services Limited Insurance 72,844 606,198 0.14 Oberoi Realty Limited Real Estate 59,250 317,379 0.07 Reliance Industries Limited Oil & Gas Services 22,386 410,693 0.10 Reliance Industries Limited Oil & Gas Services 375,800 11,397,229 2.63 Reliance Industries Limited GDR Oil & Gas Services 29,000 1,761,197 0.41 SBI Life Insurance Company Limited Insurance 68,076 749,148 0.17 Spandana Sphoorty Financial Limited Diversified Financial Services 34,544 240,034 0.06 32,446,614 7.50

Indonesia PT Astra International Tbk Retail 4,217,700 1,269,911 0.29 PT Bank Central Asia Tbk Banks 1,054,000 1,923,978 0.45 PT Blue Bird Tbk Transportation 1,052,410 60,838 0.01 PT Link Net Tbk Media 2,128,993 252,784 0.06 PT Telekomunikasi Indonesia Persero Tbk ADR Telecommunications 131,860 2,290,408 0.53 5,797,919 1.34

The accompanying notes are an integral part of these financial statements.

6 | Wells Fargo (Lux) Worldwide Fund Portfolio of investments as at 30 September 2020 (unaudited)

EMERGING MARKETS EQUITY FUND Market % of Value Net Industry Shares USD Assets

Transferable securities and money market instruments admitted to an official stock exchange listing or dealt in on another regulated market

Common Shares (continued) Mexico America Movil SAB de CV ADR Telecommunications 271,890 3,395,906 0.79 Banco Santander Mexico SA Institucion de Banca Multiple Grupo Financiero Santand Banks 200,000 127,988 0.03 Banco Santander Mexico SA Institucion de Banca Multiple Grupo Financiero Santand ADR Banks 370,683 1,186,186 0.27 Becle SAB de CV Beverages 1,149,314 2,336,936 0.54 Cemex SAB de CV ADR Building Materials 363,129 1,379,890 0.32 Fibra Uno Administracion SA de CV REIT 4,910,832 3,877,762 0.90 Fomento Economico Mexicano SAB de CV ADR Beverages 135,866 7,634,310 1.76 Grupo Financiero Banorte SAB de CV Banks 367,544 1,269,777 0.29 Wal-Mart de Mexico SAB de CV Retail 590,700 1,413,470 0.33 22,622,225 5.23

Peru Companhia de Minas Buenaventura SAA ADR Mining 76,660 936,785 0.22

Philippines Ayala Corporation Real Estate 111,652 1,596,483 0.37 San Miguel Food & Beverage Incorporated Food 320,119 421,085 0.10 SM Investments Corporation Retail 90,900 1,657,767 0.38 3,675,335 0.85

Russia HeadHunter Group plc ADR Internet 22,325 546,516 0.12 LUKOIL PJSC ADR Oil & Gas Services 42,690 2,466,668 0.57 Magnit PJSC GDR Food 69,000 1,028,579 0.24 Sberbank of Russia PJSC ADR Banks 166,800 1,947,300 0.45 Yandex NV Internet 98,600 6,433,650 1.49 12,422,713 2.87

South Africa MTN Group Limited Telecommunications 394,586 1,323,890 0.31 Shoprite Holdings Limited Food 249,100 2,032,210 0.47 Standard Bank Group Limited Banks 175,208 1,125,320 0.26 Tiger Brands Limited Food 126,980 1,446,207 0.33 5,927,627 1.37

South Korea KT Corporation ADR Telecommunications 403,526 3,877,885 0.90 KT&G Corporation Agriculture 29,557 2,087,375 0.48 Naver Corporation Internet 40,650 10,330,025 2.39 Samsung Electronics Company Limited Semiconductors 448,450 22,262,925 5.15 Samsung Life Insurance Company Limited Insurance 58,471 3,051,519 0.70 SK Hynix Incorporated Semiconductors 56,000 4,014,234 0.93 45,623,963 10.55

Taiwan 104 Corporation Commercial Services 131,357 659,818 0.15 MediaTek Incorporated Semiconductors 369,880 7,837,377 1.81

The accompanying notes are an integral part of these financial statements.

Wells Fargo (Lux) Worldwide Fund | 7

Portfolio of investments as at 30 September 2020 (unaudited)

EMERGING MARKETS EQUITY FUND Market % of Value Net Industry Shares USD Assets

Transferable securities and money market instruments admitted to an official stock exchange listing or dealt in on another regulated market

Common Shares (continued) Taiwan (continued) President Chain Store Corporation Retail 262,000 2,384,755 0.55 Taiwan Semiconductor Manufacturing Company Limited ADR Semiconductors 331,760 26,895,783 6.22 Uni-President Enterprises Corporation Food 3,505,071 7,591,144 1.76 45,368,877 10.49

Thailand PTT Exploration & Production PCL Oil & Gas Services 176,957 441,171 0.10 PTT PCL Oil & Gas Services 1,684,300 1,733,407 0.40 Siam Commercial Bank PCL Banks 787,700 1,615,795 0.37 Thai Beverage PCL Beverages 5,605,850 2,494,200 0.58 6,284,573 1.45

Turkey AvivaSA Emeklilik ve Hayat AS Insurance 251,636 456,163 0.11 Total Common Shares 397,460,049 91.89

Dividend Yield % Preferred Shares Brazil Lojas Americanas SA 0.62 Retail 1,156,055 5,844,193 1.35 Total Preferred Shares 5,844,193 1.35 Total Investments in Securities 403,304,242 93.24

Interest Rate % Nominal @ Cash at Banks Time Deposits Cayman Islands BBH Grand Cayman (o) 3.00 2 ZAR 0 0.00

Netherlands ING Bank NV (o) 0.01 2,340,481 HKD 301,996 0.07

United States Citibank (o) 0.01 27,885,032 USD 27,885,032 6.45 Total Time Deposits 28,187,028 6.52 Current Accounts at Bank 1,441,668 0.33 Total Cash at Banks 29,628,696 6.85

Other Assets and Liabilities, Net (377,896) (0.09) Total Net Assets 432,555,042 100.00

The accompanying notes are an integral part of these financial statements.

8 | Wells Fargo (Lux) Worldwide Fund

Portfolio of investments as at 30 September 2020 (unaudited)

@ Nominal amount is denominated in currency indicated. (o) Overnight deposit.

Key: ADR American Depository Receipt GDR Global Depository Receipt HKD Hong KongDollar REIT Real Estate Investment Trust USD United States Dollar ZAR South AfricanRand

The securities have been classified based upon country of incorporation/domiciliation.

The accompanying notes are an integral part of these financial statements.

Wells Fargo (Lux) Worldwide Fund | 9

Portfolio of investments as at 30 September 2020 (unaudited)

EMERGING MARKETS EQUITY INCOME FUND Market % of Value Net Industry Shares USD Assets

Transferable securities and money market instruments admitted to an official stock exchange listing or dealt in on another regulated market

Common Shares Brazil B3 SA – Brasil Bolsa Balcao Diversified Financial Services 180,800 1,771,009 0.83 Banco BTG Pactual SA Diversified Financial Services 143,035 1,855,464 0.87 Cury Construtora e Incorporadora SA Engineering & Construction 586,058 1,084,268 0.51 Petrobras Distribuidora SA Oil & Gas Services 296,900 1,065,285 0.50 Vale SA Iron/Steel 302,010 3,178,798 1.49 8,954,824 4.20

China China Communications Services Corporation Limited Engineering & Construction 1,422,000 839,486 0.39 China Construction Bank Corporation Banks 6,148,000 3,994,802 1.87 China Life Insurance Company Limited Insurance 637,000 1,444,064 0.68 China Merchants Bank Company Limited Banks 423,500 2,009,684 0.94 China Merchants Shekou Industrial Zone Holdings Company Limited Real Estate 466,931 1,048,495 0.49 China Telecom Corporation Limited Internet 4,994,000 1,500,436 0.70 China Yongda Automobiles Services Holdings Limited Retail 1,644,000 1,962,820 0.92 CITIC Securities Company Limited Diversified Financial Services 1,112,500 2,502,167 1.17 CNOOC Limited Oil & Gas Services 1,882,000 1,810,255 0.85 ENN Energy Holdings Limited Oil & Gas Services 194,200 2,131,006 1.00 Gree Electric Appliances Incorporated of Zhuhai Home Furnishings 269,100 2,127,205 1.00 Hengan International Group Company Limited Healthcare – Products 118,000 863,768 0.41 Inner Mongolia Yili Industrial Group Company Limited Food 360,900 2,057,041 0.96 Lenovo Group Limited Computers 3,140,000 2,076,052 0.97 Lomon Billions Group Company Limited Chemicals 516,700 1,783,217 0.84 Midea Group Company Limited Home Furnishings 442,745 4,764,117 2.24 Minth Group Limited Auto Parts & Equipment 338,000 1,475,959 0.69 NARI Technology Company Limited Machinery – Diversified 535,642 1,563,466 0.73 NetEase Incorporated Software 156,125 2,803,141 1.32 Ping An Insurance Group Company of China Limited Insurance 400,000 4,152,339 1.95 Sinopharm Group Company Limited Pharmaceuticals 864,800 1,827,497 0.86 Suofeiya Home Collection Company Limited Home Furnishings 326,600 1,274,591 0.60 Tingyi Cayman Islands Holding Corporation Food 982,000 1,738,822 0.82 Topsports International Holdings Limited Apparel 1,730,000 2,405,142 1.13 Wanhua Chemical Group Company Limited Chemicals 103,653 1,065,636 0.50 Weichai Power Company Limited Auto Parts & Equipment 1,051,000 2,126,650 1.00 Yonghui Superstores Company Limited Food 856,600 991,698 0.47 54,339,556 25.50

Greece Hellenic Telecommunications Organization SA Telecommunications 73,761 1,062,323 0.50

Hong Kong ASM Pacific Technology Limited Semiconductors 123,900 1,268,383 0.60 China Merchants Port Holdings Company Limited Commercial Services 1,358,000 1,395,002 0.65 China Mobile Limited Telecommunications 643,665 4,131,870 1.94 China Resources Land Limited Real Estate 698,000 3,183,456 1.49 Chow Tai Fook Jewellery Group Limited Retail 1,497,200 1,958,290 0.92 Geely Automobile Holdings Limited Auto Manufacturers 965,000 1,935,811 0.91

The accompanying notes are an integral part of these financial statements.

10 | Wells Fargo (Lux) Worldwide Fund

Portfolio of investments as at 30 September 2020 (unaudited)

EMERGING MARKETS EQUITY INCOME FUND Market % of Value Net Industry Shares USD Assets

Transferable securities and money market instruments admitted to an official stock exchange listing or dealt in on another regulated market

Common Shares (continued) Hong Kong (continued) Hong Kong Exchanges & Clearing Limited Diversified Financial Services 52,400 2,466,651 1.16 Kunlun Energy Company Limited Oil & Gas Services 2,660,000 1,756,457 0.82 Nine Dragons Paper Holdings Limited Forest Products & Paper 1,522,000 1,921,583 0.90 Shimao Group Holdings Limited Real Estate 514,500 2,146,466 1.01 22,163,969 10.40

India Bharat Petroleum Corporation Limited Oil & Gas Services 415,503 1,988,642 0.93 Bharti Infratel Limited Telecommunications 693,124 1,650,778 0.77 Embassy Office Parks REIT REIT 421,200 2,066,682 0.97 Hero MotoCorp Limited Leisure Time 33,548 1,431,944 0.67 Hindustan Petroleum Corporation Limited Oil & Gas Services 599,368 1,467,184 0.69 Infosys Limited ADR Computers 258,460 3,569,333 1.67 Mahanagar Gas Limited Electric 146,320 1,651,523 0.78 Manappuram Finance Limited Diversified Financial Services 1,370,644 2,941,941 1.38 Tech Mahindra Limited Software 203,171 2,186,634 1.03 18,954,661 8.89

Indonesia PT Bank Rakyat Indonesia Persero Tbk Banks 4,761,200 976,781 0.46 PT Telekomunikasi Indonesia Persero Tbk Telecommunications 9,798,000 1,691,760 0.79 2,668,541 1.25

Macau Sands China Limited Lodging 223,200 865,171 0.41

Malaysia Bursa Malaysia Bhd Diversified Financial Services 549,900 1,124,129 0.53 Top Glove Corporation Bhd Healthcare – Products 806,800 1,617,641 0.76 2,741,770 1.29

Mexico America Movil SAB de CV ADR Telecommunications 84,601 1,056,667 0.49 Kimberly-Clark de Mexico SAB de CV Household Products/Wares 562,794 889,312 0.42 Wal-Mart de Mexico SAB de CV Retail 523,372 1,252,362 0.59 3,198,341 1.50

Peru Credicorp Limited Banks 7,177 889,876 0.42 Southern Copper Corporation Mining 29,074 1,316,180 0.62 2,206,056 1.04

Poland Powszechna Kasa Oszczednosci Bank Polski SA Banks 239,037 1,311,935 0.62

Russia Detsky Mir PJSC Retail 592,504 896,820 0.42 Detsky Mir PJSC Retail 111,246 167,846 0.08 LUKOIL PJSC ADR Oil & Gas Services 14,845 857,758 0.40 Magnit PJSC Food 17,139 1,095,436 0.51 MMC Norilsk Nickel PJSC Mining 5,906 1,429,208 0.67

The accompanying notes are an integral part of these financial statements.

Wells Fargo (Lux) Worldwide Fund | 11

Portfolio of investments as at 30 September 2020 (unaudited)

EMERGING MARKETS EQUITY INCOME FUND Market % of Value Net Industry Shares USD Assets

Transferable securities and money market instruments admitted to an official stock exchange listing or dealt in on another regulated market

Common Shares (continued) Russia (continued) Mobile TeleSystems PJSC ADR Telecommunications 176,216 1,538,366 0.72 Moscow Exchange MICEX-RTS PJSC Diversified Financial Services 368,660 697,039 0.33 Novatek PJSC GDR Oil & Gas Services 3,232 442,411 0.21 Polymetal International plc Mining 81,283 1,771,092 0.83 Sberbank of Russia PJSC ADR Banks 92,760 1,082,923 0.51 9,978,899 4.68

Saudi Arabia Jarir Marketing Company Retail 24,642 1,233,666 0.58 National Commercial Bank Banks 110,555 1,098,203 0.51 2,331,869 1.09

Singapore BOC Aviation Limited Diversified Financial Services 227,200 1,556,799 0.73

South Africa Gold Fields Limited ADR Mining 134,170 1,648,949 0.77 MTN Group Limited Telecommunications 335,744 1,126,467 0.53 Naspers Limited Internet 19,450 3,435,335 1.61 Standard Bank Group Limited Banks 161,085 1,034,611 0.49 7,245,362 3.40

South Korea KB Financial Group Incorporated Diversified Financial Services 51,349 1,653,437 0.78 Kia Motors Corporation Auto Manufacturers 69,146 2,772,889 1.30 POSCO Iron/Steel 12,922 2,163,321 1.01 Samsung Electronics Company Limited Semiconductors 192,326 9,547,863 4.48 Samsung Fire & Marine Insurance Company Limited Insurance 10,353 1,612,835 0.76 SK Hynix Incorporated Semiconductors 33,043 2,368,613 1.11 SK Telecom Company Limited Telecommunications 9,951 2,022,854 0.95 22,141,812 10.39

Taiwan Advantech Company Limited Computers 167,000 1,689,929 0.79 ASE Technology Holding Company Limited Semiconductors 525,000 1,080,912 0.51 Delta Electronics Incorporated Electrical Components & Equipment 167,000 1,096,596 0.51 Giant Manufacturing Company Limited Leisure Time 68,000 644,323 0.30 Hon Hai Precision Industry Company Limited Electronics 817,600 2,198,127 1.03 Largan Precision Company Limited Miscellaneous Manufacturers 8,600 1,007,142 0.47 MediaTek Incorporated Semiconductors 94,000 1,991,763 0.94 Quanta Computer Incorporated Computers 650,000 1,706,867 0.80 Realtek Semiconductor Corporation Semiconductors 86,000 1,102,378 0.52 Taiwan Semiconductor Manufacturing Company Limited Semiconductors 1,104,500 16,616,184 7.80 29,134,221 13.67

Thailand Advanced Info Service PCL Telecommunications 150,700 811,058 0.38 Bangkok Commercial Asset Management PCL Investment Companies 1,245,600 778,316 0.36 Thai Beverage PCL Beverages 3,772,100 1,678,313 0.79 3,267,687 1.53

The accompanying notes are an integral part of these financial statements.

12 | Wells Fargo (Lux) Worldwide Fund

Portfolio of investments as at 30 September 2020 (unaudited)

EMERGING MARKETS EQUITY INCOME FUND Market % of Value Net Industry Shares USD Assets

Transferable securities and money market instruments admitted to an official stock exchange listing or dealt in on another regulated market

Common Shares (continued)

United Arab Emirates Aldar Properties PJSC Real Estate 2,774,177 1,531,070 0.72

Total Common Shares 195,654,866 91.81

Dividend Yield %

Preferred Shares

Brazil Banco Bradesco SA 8.86 Banks 276,041 954,069 0.45 Banco BTG Pactual SA 2.24 Diversified Financial Services 35,735 108,174 0.05 Itausa SA 3.41 Investment Companies 700,267 1,097,304 0.51 Petroleo Brasileiro SA ADR 4.09 Oil & Gas Services 142,240 1,001,370 0.47 3,160,917 1.48

South Korea Samsung Electronics Company Limited 2.10 Semiconductors 80,131 3,448,919 1.62

Total Preferred Shares 6,609,836 3.10

Total Investments in Securities 202,264,702 94.91

Interest Rate % Nominal @

Cash at Banks

Time Deposits

Cayman Islands BBH Grand Cayman (o) 0.01 6 GBP 8 0.00 BBH Grand Cayman (o) 0.01 16 SGD 12 0.00 BBH Grand Cayman (o) 3.00 2 ZAR 0 0.00 20 0.00

China Bank of Shanghai (o) 0.01 1,246,477 HKD 160,834 0.08

United States JPMorgan Chase (o) 0.01 8,727,656 USD 8,727,656 4.09

Total Time Deposits 8,888,510 4.17

Current Accounts at Bank 2,813,596 1.32

Total Cash at Banks 11,702,106 5.49

Other Assets and Liabilities, Net (847,032) (0.40)

Total Net Assets 213,119,776 100.00

The accompanying notes are an integral part of these financial statements.

Wells Fargo (Lux) Worldwide Fund | 13

Portfolio of investments as at 30 September 2020 (unaudited)

@ Nominal amount is denominated in currency indicated. (o) Overnight deposit.

Key: ADR American Depository Receipt GBP British Pound GDR Global Depository Receipt HKD Hong KongDollar REIT Real Estate InvestmentTrust SGD SingaporeDollar USD United StatesDollar ZAR South AfricanRand

The securities have been classified based upon country of incorporation/domiciliation.

The accompanying notes are an integral part of these financial statements.

14 | Wells Fargo (Lux) Worldwide Fund

Portfolio of investments as at 30 September 2020 (unaudited)

EUR INVESTMENT GRADE CREDIT FUND Interest Market % of Rate Maturity Value Net % Date Industry Nominal @ EUR Assets

Transferable securities and money market instruments admitted to an official stock exchange listing or dealt in on another regulated market

Corporate Bonds and Notes Australia APT Pipelines Limited 2.00 15/7/2030 Oil & Gas Services 300,000 EUR 324,681 0.31 Santos Finance Limited 4.13 14/9/2027 Oil & Gas Services 600,000 USD 529,198 0.51 Transurban Finance Company Proprietary Limited 1.75 29/3/2028 Commercial Services 400,000 EUR 417,367 0.40 1,271,246 1.22

Austria BAWAG Group AG ± 2.38 26/3/2029 Banks 700,000 EUR 714,962 0.69 Raiffeisen Bank International AG ± 2.88 18/6/2032 Banks 600,000 EUR 614,417 0.59 1,329,379 1.28

Belgium Argenta Spaarbank NV 1.00 6/2/2024 Banks 500,000 EUR 512,178 0.49 Argenta Spaarbank NV ± 3.88 24/5/2026 Banks 800,000 EUR 812,082 0.78 Ethias SA 5.00 14/1/2026 Insurance 500,000 EUR 567,500 0.55 KBC Group NV ± 0.13 10/9/2026 Banks 400,000 EUR 396,998 0.38 Lonza Finance International NV 1.63 21/4/2027 Healthcare – Services 300,000 EUR 321,703 0.31 Solvay SA ^± 4.25 4/12/2023 Chemicals 600,000 EUR 630,000 0.61 3,240,461 3.12

Czech Republic Ceske Drahy AS 1.50 23/5/2026 Transportation 100,000 EUR 101,393 0.10

Denmark Carlsberg Breweries AS 0.38 30/6/2027 Beverages 500,000 EUR 500,890 0.48 Jyske Bank AS ± 2.25 5/4/2029 Banks 600,000 EUR 615,977 0.59 Nykredit Realkredit AS 0.13 10/7/2024 Banks 600,000 EUR 593,828 0.57 Nykredit Realkredit AS 0.88 17/1/2024 Banks 700,000 EUR 713,314 0.69 Nykredit Realkredit AS ^± 6.25 26/10/2020 Banks 500,000 EUR 501,250 0.48 Orsted AS ± 6.25 26/6/3013 Electric 500,000 EUR 565,625 0.55 Sydbank AS 1.25 4/2/2022 Banks 400,000 EUR 404,139 0.39 3,895,023 3.75

Finland CRH Finland Services OYJ 0.88 5/11/2023 Building Materials 300,000 EUR 307,485 0.30 Mandatum Life Insurance Company Limited ± 1.88 4/10/2049 Insurance 800,000 EUR 797,920 0.77 OP Corporate Bank plc 0.60 18/1/2027 Banks 700,000 EUR 709,142 0.68 Sampo OYJ ± 2.50 3/9/2052 Insurance 500,000 EUR 505,530 0.49 Sampo OYJ ± 3.38 23/5/2049 Insurance 400,000 EUR 441,126 0.42 2,761,203 2.66

France ALD SA 0.88 18/7/2022 Commercial Services 400,000 EUR 403,336 0.39 Arkema SA 0.75 3/12/2029 Chemicals 400,000 EUR 401,700 0.39 Arkema SA ^± 1.50 21/10/2025 Chemicals 500,000 EUR 476,297 0.46 Arkema SA 1.50 20/4/2027 Chemicals 500,000 EUR 533,151 0.51 Arkema SA ^± 2.75 17/6/2024 Chemicals 300,000 EUR 306,075 0.29 Banque Federative du Credit Mutuel SA 0.75 8/6/2026 Banks 400,000 EUR 415,138 0.40 BNP Paribas SA 1.25 19/3/2025 Banks 1,100,000 EUR 1,144,717 1.10

The accompanying notes are an integral part of these financial statements.

Wells Fargo (Lux) Worldwide Fund | 15

Portfolio of investments as at 30 September 2020 (unaudited)

EUR INVESTMENT GRADE CREDIT FUND Interest Market % of Rate Maturity Value Net % Date Industry Nominal @ EUR Assets

Transferable securities and money market instruments admitted to an official stock exchange listing or dealt in on another regulated market

Corporate Bonds and Notes (continued) France (continued) BPCE SA 1.00 1/4/2025 Banks 200,000 EUR 205,924 0.20 BPCE SA 3.50 23/10/2027 Banks 600,000 USD 562,291 0.54 Capgemini SE 1.13 23/6/2030 Computers 900,000 EUR 927,722 0.89 Carrefour SA 2.63 15/12/2027 Food 200,000 EUR 227,983 0.22 CNP Assurances ± 4.25 5/6/2045 Insurance 500,000 EUR 561,542 0.54 Credit Agricole Assurances SA 2.00 17/7/2030 Insurance 600,000 EUR 611,342 0.59 Credit Agricole SA 0.12 6/3/2023 Banks 400,000 EUR 401,411 0.39 Credit Agricole SA ± 1.00 22/4/2026 Banks 500,000 EUR 513,350 0.49 Edenred 1.38 18/6/2029 Commercial Services 600,000 EUR 620,731 0.60 Electricite de France SA 2.00 2/10/2030 Electric 500,000 EUR 563,420 0.54 Electricite de France SA ^± 2.88 15/12/2026 Electric 800,000 EUR 780,440 0.75 La Mondiale SAM ^± 5.05 17/12/2025 Insurance 305,000 EUR 338,733 0.33 Orange SA 0.50 4/9/2032 Telecommunications 500,000 EUR 492,088 0.47 Peugeot SA 2.75 15/5/2026 Auto Manufacturers 700,000 EUR 749,786 0.72 RCI Banque SA 1.00 17/5/2023 Auto Manufacturers 300,000 EUR 297,780 0.29 Societe Generale SA ± 0.88 22/9/2028 Banks 200,000 EUR 199,156 0.19 Thales SA 1.00 15/5/2028 Aerospace/Defense 300,000 EUR 311,001 0.30 Worldline SA 0.25 18/9/2024 Commercial Services 600,000 EUR 601,214 0.58 12,646,328 12.17

Germany Aareal Bank AG ± 4.25 18/3/2026 Diversified Financial Services 500,000 EUR 492,375 0.47 Albemarle New Holding GmbH 1.63 25/11/2028 Chemicals 500,000 EUR 506,706 0.49 Allianz SE ± 2.12 8/7/2050 Insurance 300,000 EUR 317,183 0.31 Bayer AG 0.75 6/1/2027 Pharmaceuticals 700,000 EUR 707,262 0.68 Bayer AG ± 2.38 12/11/2079 Pharmaceuticals 400,000 EUR 393,213 0.38 Bayer AG ± 3.13 12/11/2079 Pharmaceuticals 300,000 EUR 302,007 0.29 Covestro AG 0.88 3/2/2026 Chemicals 200,000 EUR 201,936 0.19 Covestro AG 1.38 12/6/2030 Chemicals 300,000 EUR 304,686 0.29 Deutsche Bank AG 0.38 18/1/2021 Banks 1,400,000 EUR 1,400,700 1.35 Deutsche Telekom AG 0.88 25/3/2026 Telecommunications 300,000 EUR 312,373 0.30 Deutsche Telekom AG 1.75 9/12/2049 Telecommunications 400,000 EUR 425,066 0.41 E.ON SE 0.88 20/8/2031 Electric 300,000 EUR 311,919 0.30 Evonik Industries AG 0.63 18/9/2025 Chemicals 400,000 EUR 409,237 0.39 Fresenius Medical Care AG & Company KGaA 1.50 29/5/2030 Healthcare – Services 600,000 EUR 629,777 0.61 MTU Aero Engines AG 3.00 1/7/2025 Aerospace/Defense 500,000 EUR 522,809 0.50 Muenchener Rueckversicherungs- Gesellschaft AG in Muenchen ± 1.25 26/5/2041 Insurance 500,000 EUR 493,331 0.48 Vier Gas Transport GmbH 1.50 25/9/2028 Pipelines 300,000 EUR 332,391 0.32 Volkswagen Bank GmbH 0.63 8/9/2021 Auto Manufacturers 800,000 EUR 804,713 0.78 Volkswagen Financial Services AG 1.50 1/10/2024 Auto Manufacturers 750,000 EUR 771,187 0.74 9,638,871 9.28

Iceland Landsbankinn HF 1.38 14/3/2022 Banks 200,000 EUR 203,303 0.20

Ireland Abbott Ireland Financing DAC 1.50 27/9/2026 Healthcare – Products 400,000 EUR 432,471 0.41 AIB Group plc 2.25 3/7/2025 Banks 300,000 EUR 319,568 0.31 Bank of Ireland Group plc ± 4.13 19/9/2027 Banks 400,000 USD 339,175 0.33 ESB Finance DAC 1.13 11/6/2030 Electric 600,000 EUR 644,846 0.62 1,736,060 1.67

The accompanying notes are an integral part of these financial statements.

16 | Wells Fargo (Lux) Worldwide Fund

Portfolio of investments as at 30 September 2020 (unaudited)

EUR INVESTMENT GRADE CREDIT FUND Interest Market % of Rate Maturity Value Net % Date Industry Nominal @ EUR Assets

Transferable securities and money market instruments admitted to an official stock exchange listing or dealt in on another regulated market

Corporate Bonds and Notes (continued) Italy Banco BPM SpA 2.50 21/6/2024 Banks 300,000 EUR 306,328 0.30 FCA Bank SpA 0.50 13/9/2024 Diversified Financial Services 500,000 EUR 497,591 0.48 FCA Bank SpA 1.00 21/2/2022 Diversified Financial Services 400,000 EUR 403,892 0.39 Intesa Sanpaolo SpA 0.75 4/12/2024 Banks 100,000 EUR 101,115 0.10 Intesa Sanpaolo SpA 1.00 4/7/2024 Banks 300,000 EUR 304,844 0.29 UniCredit SpA ± 2.73 15/1/2032 Banks 500,000 EUR 471,250 0.45 UniCredit SpA 6.57 14/1/2022 Banks 400,000 USD 362,052 0.35 2,447,072 2.36

Japan Mizuho Financial Group Incorporated 0.52 10/6/2024 Banks 600,000 EUR 607,106 0.59 Nissan Motor Company Limited 2.65 17/3/2026 Auto Manufacturers 200,000 EUR 201,864 0.19 Takeda Pharmaceutical Company Limited 2.00 9/7/2040 Pharmaceuticals 600,000 EUR 635,501 0.61 1,444,471 1.39

Luxembourg DH Europe Finance II Sarl 0.20 18/3/2026 Healthcare – Products 600,000 EUR 597,782 0.58 Medtronic Global Holdings SCA (z) 0.00 15/10/2025 Healthcare – Products 500,000 EUR 498,290 0.48 Prologis International Funding II SA 0.88 9/7/2029 Real Estate 600,000 EUR 616,926 0.59 SELP Finance Sarl 1.50 20/11/2025 REIT 400,000 EUR 413,137 0.40 SES SA 1.63 22/3/2026 Telecommunications 400,000 EUR 414,179 0.40 SES SA 2.00 2/7/2028 Telecommunications 500,000 EUR 518,764 0.50 SIG Combibloc PurchaseCo Sarl 2.13 18/6/2025 Packaging & Containers 200,000 EUR 205,253 0.20 Swiss Re Finance Luxembourg SA ± 2.53 30/4/2050 Insurance 500,000 EUR 533,770 0.51 3,798,101 3.66

Netherlands Ashland Services BV 2.00 30/1/2028 Chemicals 200,000 EUR 190,000 0.18 ASR Nederland NV ± 3.38 2/5/2049 Insurance 300,000 EUR 320,104 0.31 BAT Netherlands Finance BV 2.38 7/10/2024 Agriculture 500,000 EUR 537,836 0.52 Compass Group Finance Netherlands BV 1.50 5/9/2028 Food Service 400,000 EUR 436,723 0.42 Cooperatieve Rabobank UA 0.63 27/2/2024 Banks 500,000 EUR 509,237 0.49 Cooperatieve Rabobank UA ^± 6.63 29/6/2021 Banks 400,000 EUR 412,000 0.40 de Volksbank NV 0.75 25/6/2023 Banks 400,000 EUR 407,256 0.39 de Volksbank NV ± 1.75 22/10/2030 Banks 400,000 EUR 410,436 0.40 de Volksbank NV ± 3.75 5/11/2025 Banks 400,000 EUR 401,183 0.39 Deutsche Telekom International Finance BV 0.63 1/12/2022 Telecommunications 400,000 EUR 406,254 0.39 Digital Dutch Finco BV 1.50 15/3/2030 REIT 300,000 EUR 313,200 0.30 Enel Finance International NV 0.38 17/6/2027 Electric 450,000 EUR 451,712 0.43 Enel Finance International NV 2.75 6/4/2023 Electric 200,000 USD 178,242 0.17 Enexis Holding NV 0.63 17/6/2032 Electric 400,000 EUR 413,808 0.40 Heimstaden Bostad Treasury BV 1.38 3/3/2027 Real Estate 400,000 EUR 401,177 0.39 Heineken NV 1.75 17/3/2031 Beverages 600,000 EUR 671,496 0.65 Heineken NV 1.75 7/5/2040 Beverages 500,000 EUR 522,772 0.50 Koninklijke Philips NV 0.50 22/5/2026 Healthcare – Products 500,000 EUR 511,575 0.49 LeasePlan Corporation NV 0.75 3/10/2022 Diversified Financial Services 600,000 EUR 602,493 0.58 LeasePlan Corporation NV 1.38 7/3/2024 Diversified Financial Services 200,000 EUR 201,976 0.19 NIBC Bank NV 1.50 31/1/2022 Banks 400,000 EUR 406,272 0.39 NIBC Bank NV 2.00 9/4/2024 Banks 200,000 EUR 202,138 0.19

The accompanying notes are an integral part of these financial statements.

Wells Fargo (Lux) Worldwide Fund | 17

Portfolio of investments as at 30 September 2020 (unaudited)

EUR INVESTMENT GRADE CREDIT FUND Interest Market % of Rate Maturity Value Net % Date Industry Nominal @ EUR Assets

Transferable securities and money market instruments admitted to an official stock exchange listing or dealt in on another regulated market

Corporate Bonds and Notes (continued) Netherlands (continued) Phoenix PIB Dutch Finance BV 2.38 5/8/2025 Pharmaceuticals 500,000 EUR 503,660 0.49 Repsol International Finance BV 0.13 5/10/2024 Oil & Gas Services 400,000 EUR 399,221 0.38 Repsol International Finance BV ^± 3.75 11/3/2026 Oil & Gas Services 500,000 EUR 502,518 0.48 Shell International Finance BV 1.25 11/11/2032 Oil & Gas Services 750,000 EUR 794,100 0.76 Syngenta Finance NV 3.38 16/4/2026 Chemicals 200,000 EUR 214,644 0.21 Upjohn Finance BV 1.91 23/6/2032 Pharmaceuticals 800,000 EUR 832,200 0.80 Volkswagen International Finance NV 0.88 22/9/2028 Auto Manufacturers 300,000 EUR 298,408 0.29 Vonovia Finance BV 0.50 14/9/2029 Real Estate 700,000 EUR 691,460 0.67 13,144,101 12.65

New Zealand Chorus Limited 0.88 5/12/2026 Telecommunications 200,000 EUR 205,460 0.20

Norway Aker BP ASA 3.00 15/1/2025 Oil & Gas Services 200,000 USD 171,078 0.16 Equinor ASA 1.38 22/5/2032 Oil & Gas Services 400,000 EUR 435,196 0.42 606,274 0.58

Portugal Caixa Geral de Depositos SA ± 5.75 28/6/2028 Banks 300,000 EUR 324,729 0.31

Slovakia Eustream AS 1.63 25/6/2027 Oil & Gas Services 600,000 EUR 626,126 0.60

Spain Amadeus IT Group SA (z) 0.00 18/3/2022 Commercial Services 100,000 EUR 98,693 0.09 Banco de Sabadell SA 1.13 27/3/2025 Banks 400,000 EUR 383,036 0.37 Bankia SA ± 3.75 15/2/2029 Banks 400,000 EUR 422,577 0.41 Bankinter SA 0.63 6/10/2027 Banks 400,000 EUR 390,714 0.38 CaixaBank SA 0.63 1/10/2024 Banks 600,000 EUR 595,200 0.57 FCC Aqualia SA 1.41 8/6/2022 Water 800,000 EUR 809,902 0.78 IE2 Holdco SAU 2.38 27/11/2023 Electric 400,000 EUR 424,412 0.41 Inmobiliaria Colonial Socimi SA 1.45 28/10/2024 REIT 300,000 EUR 308,619 0.30 Kutxabank SA 0.50 25/9/2024 Banks 400,000 EUR 397,144 0.38 Telefonica Emisiones SA 1.46 13/4/2026 Telecommunications 1,000,000 EUR 1,066,916 1.03 Unicaja Banco SA ± 2.88 13/11/2029 Banks 200,000 EUR 190,000 0.18 5,087,213 4.90

Sweden Akelius Residential Property AB ± 2.25 17/5/2081 Real Estate 500,000 EUR 472,670 0.45 Akelius Residential Property AB ± 3.88 5/10/2078 Real Estate 400,000 EUR 411,000 0.40 Heimstaden Bostad AB 1.13 21/1/2026 Real Estate 300,000 EUR 299,282 0.29 Svenska Handelsbanken AB ^± 4.38 1/3/2027 Banks 400,000 USD 347,085 0.33 Tele2 AB 2.13 15/5/2028 Telecommunications 800,000 EUR 880,564 0.85 Vattenfall AB 0.05 15/10/2025 Electric 100,000 EUR 100,048 0.10 Volvo Treasury AB 0.13 17/9/2024 Auto Manufacturers 300,000 EUR 300,336 0.29 2,810,985 2.71

Switzerland UBS AG ± 4.75 12/2/2026 Banks 300,000 EUR 303,375 0.29 UBS Group AG ± 0.25 29/1/2026 Banks 300,000 EUR 299,906 0.29 UBS Group AG 1.75 16/11/2022 Banks 800,000 EUR 830,253 0.80 1,433,534 1.38

The accompanying notes are an integral part of these financial statements.

18 | Wells Fargo (Lux) Worldwide Fund

Portfolio of investments as at 30 September 2020 (unaudited)

EUR INVESTMENT GRADE CREDIT FUND Interest Market % of Rate Maturity Value Net % Date Industry Nominal @ EUR Assets

Transferable securities and money market instruments admitted to an official stock exchange listing or dealt in on another regulated market

Corporate Bonds and Notes (continued) United Kingdom Aviva plc ± 6.13 5/7/2043 Insurance 356,000 EUR 403,615 0.39 Babcock International Group plc 1.38 13/9/2027 Commercial Services 400,000 EUR 398,162 0.38 Babcock International Group plc 1.75 6/10/2022 Commercial Services 400,000 EUR 407,024 0.39 Barclays plc ± 3.38 2/4/2025 Banks 600,000 EUR 651,019 0.63 BP Capital Markets plc 2.52 7/4/2028 Oil & Gas Services 900,000 EUR 1,023,518 0.98 BP Capital Markets plc ^± 3.25 22/3/2026 Oil & Gas Services 400,000 EUR 410,746 0.39 BP Capital Markets plc ^± 4.25 22/3/2027 Oil & Gas Services 600,000 GBP 691,701 0.67 Brambles Finance plc 1.50 4/10/2027 Packaging & Containers 300,000 EUR 313,203 0.30 British Telecommunications plc 0.50 12/9/2025 Telecommunications 600,000 EUR 596,059 0.57 Coca-Cola European Partners plc 1.50 8/11/2027 Beverages 800,000 EUR 871,392 0.84 DS Smith plc 2.25 16/9/2022 Packaging & Containers 500,000 EUR 515,784 0.50 G4S International Finance plc 1.50 2/6/2024 Commercial Services 950,000 EUR 951,714 0.92 Lloyds Banking Group plc ± 0.50 12/11/2025 Banks 400,000 EUR 398,029 0.38 Mondi Finance plc 1.50 15/4/2024 Forest Products & Paper 500,000 EUR 521,373 0.50 Mondi Finance plc 1.63 27/4/2026 Forest Products & Paper 400,000 EUR 426,767 0.41 NatWest Markets plc 0.63 2/3/2022 Banks 600,000 EUR 602,741 0.58 Pinewood Finance Company Limited 3.25 30/9/2025 Entertainment 300,000 GBP 328,715 0.32 Sky Limited 2.50 15/9/2026 Media 400,000 EUR 455,774 0.44 Tesco Corporate Treasury Services plc 0.88 29/5/2026 Food 600,000 EUR 610,281 0.59 Virgin Money UK plc ± 2.88 24/6/2025 Banks 200,000 EUR 203,016 0.20 Vodafone Group plc 2.50 24/5/2039 Telecommunications 700,000 EUR 801,143 0.77 11,581,776 11.15

United States Altria Group Incorporated 3.13 15/6/2031 Agriculture 600,000 EUR 685,080 0.66 American Tower Corporation 0.50 15/1/2028 REIT 500,000 EUR 494,781 0.48 AT&T Incorporated 0.25 4/3/2026 Telecommunications 600,000 EUR 595,243 0.57 AT&T Incorporated 1.80 14/9/2039 Telecommunications 400,000 EUR 396,031 0.38 Bank of America Corporation ± 1.78 4/5/2027 Banks 500,000 EUR 536,602 0.52 Booking Holdings Incorporated 1.80 3/3/2027 Internet 600,000 EUR 632,051 0.61 Capital One Financial Corporation 0.80 12/6/2024 Diversified Financial Services 600,000 EUR 600,360 0.58 Celanese US Holdings LLC 1.13 26/9/2023 Chemicals 640,000 EUR 645,133 0.62 Citigroup Incorporated ± 1.50 24/7/2026 Banks 600,000 EUR 629,640 0.61 Coca-Cola Company 0.13 15/3/2029 Beverages 600,000 EUR 595,514 0.57 Comcast Corporation 1.25 20/2/2040 Media 300,000 EUR 301,569 0.29 Digital Euro Finco LLC 2.63 15/4/2024 REIT 900,000 EUR 973,526 0.94 Discovery Communications LLC 1.90 19/3/2027 Media 1,200,000 EUR 1,252,822 1.21 Fidelity National Information Services Incorporated 1.00 3/12/2028 Software 400,000 EUR 409,600 0.39 Fidelity National Information Services Incorporated 2.95 21/5/2039 Software 300,000 EUR 362,721 0.35 Goldman Sachs Group Incorporated 0.13 19/8/2024 Banks 600,000 EUR 595,074 0.57 Goldman Sachs Group Incorporated 1.38 15/5/2024 Banks 550,000 EUR 565,455 0.54 Jefferies Group LLC 1.00 19/7/2024 Diversified Financial Services 500,000 EUR 495,171 0.48 JPMorgan Chase & Company ± 0.39 24/2/2028 Banks 600,000 EUR 593,201 0.57 Morgan Stanley ± 0.64 26/7/2024 Banks 400,000 EUR 404,730 0.39 Morgan Stanley ± 1.34 23/10/2026 Banks 400,000 EUR 418,557 0.40 PepsiCo Incorporated 0.50 6/5/2028 Beverages 400,000 EUR 410,459 0.40 Philip Morris International Incorporated 1.45 1/8/2039 Agriculture 700,000 EUR 691,705 0.67 Thermo Fisher Scientific Incorporated 1.40 23/1/2026 Healthcare – Products 400,000 EUR 425,039 0.41 Thermo Fisher Scientific Incorporated 2.38 15/4/2032 Healthcare – Products 100,000 EUR 116,190 0.11

The accompanying notes are an integral part of these financial statements.

Wells Fargo (Lux) Worldwide Fund | 19

Portfolio of investments as at 30 September 2020 (unaudited)

EUR INVESTMENT GRADE CREDIT FUND Interest Market % of Rate Maturity Value Net % Date Industry Nominal @ EUR Assets

Transferable securities and money market instruments admitted to an official stock exchange listing or dealt in on another regulated market

Corporate Bonds and Notes (continued) United States (continued) Verizon Communications Incorporated 0.88 19/3/2032 Telecommunications 500,000 EUR 500,643 0.48 Verizon Communications Incorporated 1.88 26/10/2029 Telecommunications 300,000 EUR 333,287 0.32 Westlake Chemical Corporation 1.63 17/7/2029Chemicals 700,000 EUR 687,8340.66 15,348,018 14.78 Total Corporate Bonds and Notes 95,681,127 92.12

Mortgage- and Asset-Backed Securities Ireland BAMS CMBS 2018-1 DAC 2.12 17/5/2028 200,000 GBP 210,5220.20 European Loan Conduit 0.75 26/10/2028 384,243 EUR 381,057 0.37 FROSN-2018 DAC 0.75 21/5/2028 215,413 EUR 214,047 0.21 Scorpio European Loan Conduit No 34 DAC ± 1.96 17/5/2029 199,967 GBP 217,007 0.21 Taurus 2019-1 FR DAC 0.90 2/2/2031 429,139 EUR 425,827 0.41 1,448,460 1.40

Italy Taurus 2018-1 IT SRL 1.00 18/5/2030 133,673 EUR 128,547 0.12

United Kingdom Cold Finance plc 1.32 20/8/2029 498,750 GBP 547,419 0.53 Income Contingent Student Loans 1 2002-2006 plc 1.32 24/7/2056 415,270 GBP 452,279 0.44 Income Contingent Student Loans 2 2007-2009 plc ± 1.86 24/7/2058 395,692 GBP 431,126 0.41 Paragon Mortgages No 0.4711 plc 15/10/2041 347,418 EUR 347,343 0.33 1,778,167 1.71 Total Mortgage- and Asset-Backed Securities 3,355,174 3.23 Total Transferable Securities and Money Market Instruments 99,036,301 95.35

Other Transferable Securities Corporate Bonds and Notes United States AbbVie Incorporated 1.25 1/6/2024 Pharmaceuticals 600,000 EUR 621,320 0.60 AbbVie Incorporated 2.63 15/11/2028 Pharmaceuticals 500,000 EUR 582,401 0.56 Total Other Transferable Securities 1,203,721 1.16 Total Investments in Securities 100,240,022 96.51

Cash at Banks Time Deposits France HSBC Bank plc (o) (0.69) 4,742,969 EUR 4,742,969 4.57

The accompanying notes are an integral part of these financial statements.

20 | Wells Fargo (Lux) Worldwide Fund

Portfolio of investments as at 30 September 2020 (unaudited)

EUR INVESTMENT GRADE CREDIT FUND Interest Market % of Rate Value Net % Nominal @ EUR Assets

Cash at Banks (continued) Time Deposits (continued) United Kingdom Sumitomo Mitsui Banking Corporation (o) 0.01 464,482 GBP 511,189 0.49

United States Citibank (o) 0.01 234,246 USD 199,792 0.19 Total Time Deposits 5,453,950 5.25 Current Accounts at Bank 2,529 0.00 Total Cash at Banks 5,456,479 5.25

Other Assets and Liabilities, Net (1,828,198) (1.76)

Total Net Assets 103,868,303 100.00

± Variable rate investment. The rate shown is the rate in effect at period end. ^ Investment is perpetual and, thus, does not have a predetermined maturity date. The date shown reflects the next call date. (z) Zero coupon security. @ Nominal amount is denominated in currency indicated. (o) Overnight deposit.

Key: EUR Euro GBP BritishPound REIT Real Estate InvestmentTrust USD United StatesDollar

The securities have been classified based upon country of incorporation/domiciliation.

The accompanying notes are an integral part of these financial statements.

Wells Fargo (Lux) Worldwide Fund | 21

Portfolio of investments as at 30 September 2020 (unaudited)

EUR SHORT DURATION CREDIT FUND Interest Market % of Rate Maturity Value Net % Date Industry Nominal @ EUR Assets

Transferable securities and money market instruments admitted to an official stock exchange listing or dealt in on another regulated market

Corporate Bonds and Notes Austria BAWAG Group AG ± 2.38 26/3/2029 Banks 2,400,000 EUR 2,451,298 0.87 Raiffeisen Bank International AG 6.63 18/5/2021 Banks 1,100,000 EUR 1,141,760 0.40 3,593,058 1.27

Belgium Argenta Spaarbank NV 1.00 6/2/2024 Banks 1,500,000 EUR 1,536,534 0.54 Argenta Spaarbank NV ± 3.88 24/5/2026 Banks 1,800,000 EUR 1,827,184 0.64 Ethias SA 5.00 14/1/2026 Insurance 1,700,000 EUR 1,929,500 0.68 KBC Group NV ± 0.13 10/9/2026 Banks 1,100,000 EUR 1,091,745 0.38 Solvay SA ^± 4.25 4/12/2023 Chemicals 1,300,000 EUR 1,365,000 0.48 7,749,963 2.72

Canada Royal Bank of Canada 0.25 2/5/2024 Banks 2,100,000 EUR 2,119,291 0.75

Denmark Jyske Bank AS ± 2.25 5/4/2029 Banks 2,900,000 EUR 2,977,221 1.05 Nykredit Realkredit AS 0.13 10/7/2024 Banks 700,000 EUR 692,799 0.24 Nykredit Realkredit AS 0.88 17/1/2024 Banks 600,000 EUR 611,412 0.22 Nykredit Realkredit AS ± 4.00 3/6/2036 Banks 1,000,000 EUR 1,017,640 0.36 Orsted AS ± 6.25 26/6/3013 Electric 1,000,000 EUR 1,131,250 0.40 Sydbank AS 1.25 4/2/2022 Banks 1,300,000 EUR 1,313,453 0.46 Sydbank AS 1.38 18/9/2023 Banks 400,000 EUR 409,200 0.14 8,152,975 2.87

Finland CRH Finland Services OYJ 0.88 5/11/2023 Building Materials 800,000 EUR 819,960 0.29 Fortum OYJ 0.88 27/2/2023 Electric 1,850,000 EUR 1,883,181 0.66 Mandatum Life Insurance Company Limited ± 1.88 4/10/2049 Insurance 1,300,000 EUR 1,296,620 0.46 Nordea Bank Abp 0.88 26/6/2023 Banks 1,400,000 EUR 1,435,440 0.50 OP Corporate Bank plc 0.38 29/8/2023 Banks 300,000 EUR 304,512 0.11 OP Corporate Bank plc 0.38 19/6/2024 Banks 1,500,000 EUR 1,507,560 0.53 7,247,273 2.55

France ALD SA 0.88 18/7/2022 Commercial Services 700,000 EUR 705,837 0.25 ALD SA 1.25 11/10/2022 Commercial Services 1,100,000 EUR 1,120,460 0.39 Arkema SA ^± 2.75 17/6/2024 Chemicals 700,000 EUR 714,175 0.25 Banque Federative du Credit Mutuel SA 3.00 21/5/2024 Banks 1,450,000 EUR 1,577,702 0.56 Capgemini SE 0.63 23/6/2025 Computers 1,000,000 EUR 1,018,176 0.36 Capgemini SE 1.25 15/4/2022 Computers 800,000 EUR 814,432 0.29 Credit Agricole SA 0.12 6/3/2023 Banks 900,000 EUR 903,175 0.32 Credit Agricole SA ± 1.00 22/4/2026 Banks 2,100,000 EUR 2,156,070 0.76 Credit Agricole SA ^± 6.50 23/6/2021 Banks 1,700,000 EUR 1,737,998 0.61 Danone SA ^± 1.75 27/3/2023 Food 900,000 EUR 900,472 0.32 Edenred 1.38 10/3/2025 Commercial Services 1,000,000 EUR 1,039,996 0.37 Electricite de France SA ^± 2.88 15/12/2026 Electric 1,400,000 EUR 1,365,770 0.48 Electricite de France SA 3.63 13/10/2025 Electric 300,000 USD 286,504 0.10 Orange SA 1.13 15/7/2024 Telecommunications 2,100,000 EUR 2,181,463 0.77

The accompanying notes are an integral part of these financial statements.

22 | Wells Fargo (Lux) Worldwide Fund

Portfolio of investments as at 30 September 2020 (unaudited)

EUR SHORT DURATION CREDIT FUND Interest Market % of Rate Maturity Value Net % Date Industry Nominal @ EUR Assets

Transferable securities and money market instruments admitted to an official stock exchange listing or dealt in on another regulated market

Corporate Bonds and Notes (continued) France (continued) Peugeot SA 2.75 15/5/2026 Auto Manufacturers 1,600,000 EUR 1,713,797 0.60 PSA Banque France SA 0.63 21/6/2024 Diversified Financial Services 2,300,000 EUR 2,316,855 0.82 RCI Banque SA 0.25 8/3/2023 Auto Manufacturers 160,000 EUR 156,108 0.05 RCI Banque SA 0.63 10/11/2021 Auto Manufacturers 400,000 EUR 398,354 0.14 TOTAL SE ^± 3.88 18/5/2022 Oil & Gas Services 700,000 EUR 731,500 0.26 Worldline SA 0.25 18/9/2024 Commercial Services 1,400,000 EUR 1,402,834 0.49 23,241,678 8.19

Germany Aareal Bank AG ± 4.25 18/3/2026 Diversified Financial Services 1,550,000 EUR 1,526,362 0.54 adidas AG (z) 0.00 9/9/2024 Apparel 1,300,000 EUR 1,304,849 0.46 Albemarle New Holding GmbH 1.13 25/11/2025 Chemicals 700,000 EUR 707,818 0.25 Bayer AG 0.38 6/7/2024 Pharmaceuticals 1,000,000 EUR 1,008,300 0.36 Bayer AG ± 2.38 12/11/2079 Pharmaceuticals 900,000 EUR 884,729 0.31 Commerzbank AG 0.50 28/8/2023 Banks 1,600,000 EUR 1,621,113 0.57 Covestro AG 0.88 3/2/2026 Chemicals 600,000 EUR 605,809 0.21 Deutsche Bank AG 0.38 18/1/2021 Banks 2,100,000 EUR 2,101,050 0.74 Deutsche Bank AG 2.63 16/12/2024 Banks 800,000 GBP 891,901 0.31 E.ON SE 0.38 20/4/2023 Electric 3,000,000 EUR 3,029,760 1.07 Eurogrid GmbH 1.63 3/11/2023 Electric 1,700,000 EUR 1,781,899 0.63 Evonik Industries AG 0.63 18/9/2025 Chemicals 1,300,000 EUR 1,330,020 0.47 Infineon Technologies AG 1.13 24/6/2026 Semiconductors 500,000 EUR 514,875 0.18 Landesbank Baden-Wuerttemberg ± 2.88 27/5/2026 Banks 1,500,000 EUR 1,490,607 0.52 Merck Financial Services GmbH 0.01 15/12/2023 Pharmaceuticals 400,000 EUR 400,727 0.14 Merck KGaA ± 1.63 25/6/2079 Pharmaceuticals 1,200,000 EUR 1,207,817 0.43 MTU Aero Engines AG 3.00 1/7/2025 Aerospace/Defense 1,000,000 EUR 1,045,619 0.37 Muenchener Rueckversicherungs- Gesellschaft AG in Muenchen ± 6.00 26/5/2041 Insurance 1,500,000 EUR 1,550,976 0.54 Volkswagen Bank GmbH 0.63 8/9/2021 Auto Manufacturers 1,500,000 EUR 1,508,838 0.53 24,513,069 8.63

Iceland Landsbankinn HF 0.50 20/5/2024 Banks 800,000 EUR 789,800 0.28 Landsbankinn HF 1.38 14/3/2022 Banks 600,000 EUR 609,910 0.21 1,399,710 0.49

Ireland Abbott Ireland Financing DAC 0.10 19/11/2024 Healthcare – Products 1,300,000 EUR 1,307,020 0.46 Abbott Ireland Financing DAC 0.88 27/9/2023 Healthcare – Products 600,000 EUR 617,209 0.22 AIB Group plc 1.50 29/3/2023 Banks 1,600,000 EUR 1,629,616 0.58 Liberty Mutual Finance Europe DAC 1.75 27/3/2024 Insurance 2,100,000 EUR 2,196,159 0.77 5,750,004 2.03

Italy Banco BPM SpA 2.50 21/6/2024 Banks 1,200,000 EUR 1,225,313 0.43 FCA Bank SpA 0.50 13/9/2024 Diversified Financial Services 1,200,000 EUR 1,194,218 0.42 Intesa Sanpaolo SpA 1.00 4/7/2024 Banks 1,600,000 EUR 1,625,834 0.57 Intesa Sanpaolo SpA 1.13 4/3/2022 Banks 600,000 EUR 608,177 0.21 UniCredit SpA 0.50 9/4/2025 Banks 600,000 EUR 594,276 0.21 Unione di Banche Italiane SpA 2.63 20/6/2024 Banks 500,000 EUR 523,900 0.19 5,771,718 2.03

The accompanying notes are an integral part of these financial statements.

Wells Fargo (Lux) Worldwide Fund | 23

Portfolio of investments as at 30 September 2020 (unaudited)

EUR SHORT DURATION CREDIT FUND Interest Market % of Rate Maturity Value Net % Date Industry Nominal @ EUR Assets

Transferable securities and money market instruments admitted to an official stock exchange listing or dealt in on another regulated market

Corporate Bonds and Notes (continued)

Japan Mizuho Financial Group Incorporated 0.52 10/6/2024 Banks 1,500,000 EUR 1,517,766 0.54 Nissan Motor Company Limited 1.94 15/9/2023 Auto Manufacturers 1,100,000 EUR 1,118,326 0.39 Nissan Motor Company Limited 2.65 17/3/2026 Auto Manufacturers 600,000 EUR 605,591 0.21 3,241,683 1.14

Luxembourg Bevco Lux Sarl 1.75 9/2/2023 Diversified Financial Services 2,450,000 EUR 2,504,371 0.88 CK Hutchison Group Telecom Finance SA 0.38 17/10/2023 Telecommunications 1,600,000 EUR 1,612,832 0.57 DH Europe Finance II Sarl 0.20 18/3/2026 Healthcare – Products 200,000 EUR 199,261 0.07 Grand City Properties SA 1.70 9/4/2024 Real Estate 2,000,000 EUR 2,092,760 0.74 Medtronic Global Holdings SCA (z) 0.00 15/3/2023 Healthcare – Products 700,000 EUR 701,646 0.25 Medtronic Global Holdings SCA 0.38 7/3/2023 Healthcare – Products 1,100,000 EUR 1,111,112 0.39 SIG Combibloc PurchaseCo Sarl 1.88 18/6/2023 Packaging & Containers 600,000 EUR 610,320 0.21 8,832,302 3.11

Netherlands Achmea Bank NV 1.13 25/4/2022 Banks 1,400,000 EUR 1,422,506 0.50 Allianz Finance II BV (z) 0.00 14/1/2025 Insurance 300,000 EUR 302,492 0.11 BAT Netherlands Finance BV 2.38 7/10/2024 Agriculture 1,800,000 EUR 1,936,211 0.68 Bayer Capital Corporation BV 0.63 15/12/2022 Pharmaceuticals 1,100,000 EUR 1,115,838 0.39 BMW Finance NV (z) 0.00 24/3/2023 Auto Manufacturers 850,000 EUR 849,626 0.30 Cooperatieve Rabobank UA 0.63 27/2/2024 Banks 1,800,000 EUR 1,833,254 0.65 Cooperatieve Rabobank UA 1.25 14/1/2025 Banks 1,500,000 GBP 1,686,467 0.59 Cooperatieve Rabobank UA ^± 6.63 29/6/2021 Banks 1,200,000 EUR 1,236,000 0.44 Daimler International Finance BV 0.25 6/11/2023 Auto Manufacturers 1,650,000 EUR 1,648,201 0.58 de Volksbank NV 0.75 25/6/2023 Banks 400,000 EUR 407,256 0.14 de Volksbank NV ± 3.75 5/11/2025 Banks 2,300,000 EUR 2,306,803 0.81 Deutsche Telekom International Finance BV 0.63 1/12/2022 Telecommunications 2,250,000 EUR 2,285,181 0.81 Digital Dutch Finco BV 0.63 15/7/2025 REIT 1,500,000 EUR 1,517,627 0.53 Enel Finance International NV (z) 0.00 17/6/2024 Electric 1,600,000 EUR 1,596,492 0.56 Heimstaden Bostad Treasury BV 1.38 3/3/2027 Real Estate 1,200,000 EUR 1,203,530 0.42 Heineken NV 1.63 30/3/2025 Beverages 900,000 EUR 960,952 0.34 Iberdrola International BV ^± 3.25 12/11/2024 Electric 1,200,000 EUR 1,279,490 0.45 ING Groep NV 1.13 14/2/2025 Banks 2,400,000 EUR 2,497,277 0.88 Koninklijke KPN NV 0.63 9/4/2025 Telecommunications 1,000,000 EUR 1,017,200 0.36 Koninklijke Philips NV 1.38 30/3/2025 Healthcare – Products 1,100,000 EUR 1,160,335 0.41 LeasePlan Corporation NV 0.75 3/10/2022 Diversified Financial Services 2,350,000 EUR 2,359,764 0.83 NIBC Bank NV 1.13 19/4/2023 Banks 1,500,000 EUR 1,521,156 0.54 NIBC Bank NV 1.50 31/1/2022 Banks 2,300,000 EUR 2,336,066 0.82 Phoenix PIB Dutch Finance BV 2.38 5/8/2025 Pharmaceuticals 1,200,000 EUR 1,208,784 0.43 Repsol International Finance BV 0.13 5/10/2024 Oil & Gas Services 1,300,000 EUR 1,297,468 0.46 Repsol International Finance BV ^± 3.75 11/3/2026 Oil & Gas Services 1,000,000 EUR 1,005,036 0.35 Shell International Finance BV 0.50 11/5/2024 Oil & Gas Services 1,200,000 EUR 1,225,536 0.43 Shell International Finance BV 1.13 7/4/2024 Oil & Gas Services 1,000,000 EUR 1,042,448 0.37 Siemens Financieringsmaatschappij NV 0.13 5/6/2022 Miscellaneous Manufacturers 1,300,000 EUR 1,305,622 0.46 Syngenta Finance NV 3.38 16/4/2026 Chemicals 900,000 EUR 965,898 0.34 Telefonica Europe BV ^± 5.88 31/3/2024 Telecommunications 1,000,000 EUR 1,099,506 0.39 Upjohn Finance BV 0.82 23/6/2022 Pharmaceuticals 2,700,000 EUR 2,728,559 0.96

The accompanying notes are an integral part of these financial statements.

24 | Wells Fargo (Lux) Worldwide Fund

Portfolio of investments as at 30 September 2020 (unaudited)

EUR SHORT DURATION CREDIT FUND Interest Market % of Rate Maturity Value Net % Date Industry Nominal @ EUR Assets

Transferable securities and money market instruments admitted to an official stock exchange listing or dealt in on another regulated market

Corporate Bonds and Notes (continued) Netherlands (continued) Volkswagen International Finance NV 0.50 30/3/2021 Auto Manufacturers 1,100,000 EUR 1,102,790 0.39 Vonovia Finance BV 0.13 6/4/2023 Real Estate 1,700,000 EUR 1,704,882 0.60 49,166,253 17.32

New Zealand Chorus Limited 1.13 18/10/2023 Telecommunications 2,100,000 EUR 2,163,911 0.76

Norway Aker BP ASA 3.00 15/1/2025 Oil & Gas Services 400,000 USD 342,156 0.12 DNB Bank ASA 0.05 14/11/2023 Banks 1,850,000 EUR 1,858,954 0.66 2,201,110 0.78

Spain Amadeus IT Group SA (z) 0.00 18/3/2022 Commercial Services 1,500,000 EUR 1,480,395 0.52 Banco de Sabadell SA 1.13 27/3/2025 Banks 1,800,000 EUR 1,723,662 0.61 Bankia SA 1.13 12/11/2026 Banks 200,000 EUR 200,069 0.07 Bankia SA ± 3.75 15/2/2029 Banks 1,500,000 EUR 1,584,663 0.56 Bankinter SA 0.88 5/3/2024 Banks 1,400,000 EUR 1,439,676 0.51 CaixaBank SA 0.63 1/10/2024 Banks 1,600,000 EUR 1,587,200 0.56 FCC Aqualia SA 1.41 8/6/2022 Water 2,500,000 EUR 2,530,945 0.89 Iberdrola Finanzas SA 0.88 16/6/2025 Electric 700,000 EUR 726,958 0.26 IE2 Holdco SAU 2.38 27/11/2023 Electric 1,400,000 EUR 1,485,443 0.52 Inmobiliaria Colonial Socimi SA 1.45 28/10/2024 REIT 1,000,000 EUR 1,028,729 0.36 Kutxabank SA 0.50 25/9/2024 Banks 1,200,000 EUR 1,191,432 0.42 Telefonica Emisiones SA 0.32 17/10/2020 Telecommunications 1,000,000 EUR 1,000,172 0.35 Telefonica Emisiones SA 1.07 5/2/2024 Telecommunications 800,000 EUR 826,803 0.29 Unicaja Banco SA ± 2.88 13/11/2029 Banks 600,000 EUR 570,000 0.20 17,376,147 6.12

Sweden Akelius Residential Property AB 1.13 14/3/2024 Real Estate 1,600,000 EUR 1,628,366 0.57 Akelius Residential Property AB ± 3.88 5/10/2078 Real Estate 1,200,000 EUR 1,233,000 0.44 Heimstaden Bostad AB 1.13 21/1/2026 Real Estate 1,400,000 EUR 1,396,651 0.49 Molnlycke Holding AB 1.75 28/2/2024 Healthcare – Products 1,300,000 EUR 1,364,036 0.48 Svenska Handelsbanken AB 1.00 15/4/2025 Banks 400,000 EUR 418,678 0.15 Svenska Handelsbanken AB ± 1.63 5/3/2029 Banks 2,400,000 EUR 2,485,973 0.88 Tele2 AB 1.13 15/5/2024 Telecommunications 2,800,000 EUR 2,888,547 1.02 Vattenfall AB 0.05 15/10/2025 Electric 800,000 EUR 800,384 0.28 Volvo Treasury AB 0.13 17/9/2024 Auto Manufacturers 1,400,000 EUR 1,401,568 0.49 13,617,203 4.80

Switzerland Credit Suisse Group Funding Guernsey Limited 1.25 14/4/2022 Banks 2,050,000 EUR 2,089,975 0.73 UBS AG ± 4.75 12/2/2026 Banks 2,100,000 EUR 2,123,625 0.75 UBS Group AG ± 0.25 29/1/2026 Banks 700,000 EUR 699,781 0.25 UBS Group AG 1.75 16/11/2022 Banks 1,500,000 EUR 1,556,724 0.55 6,470,105 2.28

United Kingdom Aviva plc ± 6.13 5/7/2043 Insurance 1,100,000 EUR 1,247,125 0.44 Barclays plc ± 3.38 2/4/2025 Banks 1,400,000 EUR 1,519,045 0.54

The accompanying notes are an integral part of these financial statements.

Wells Fargo (Lux) Worldwide Fund | 25

Portfolio of investments as at 30 September 2020 (unaudited)

EUR SHORT DURATION CREDIT FUND Interest Market % of Rate Maturity Value Net % Date Industry Nominal @ EUR Assets

Transferable securities and money market instruments admitted to an official stock exchange listing or dealt in on another regulated market

Corporate Bonds and Notes (continued) United Kingdom (continued) BP Capital Markets plc 1.88 7/4/2024 Oil & Gas Services 2,400,000 EUR 2,550,210 0.90 BP Capital Markets plc ^± 3.25 22/3/2026 Oil & Gas Services 2,300,000 EUR 2,361,792 0.83 British Telecommunications plc 0.50 12/9/2025 Telecommunications 400,000 EUR 397,373 0.14 DS Smith plc 2.25 16/9/2022 Packaging & Containers 1,700,000 EUR 1,753,666 0.62 FCE Bank plc 1.88 24/6/2021 Auto Manufacturers 2,500,000 EUR 2,474,650 0.87 G4S International Finance plc 1.50 9/1/2023 Commercial Services 2,300,000 EUR 2,308,229 0.81 GlaxoSmithKline Capital plc 0.13 12/5/2023 Pharmaceuticals 1,750,000 EUR 1,762,512 0.62 Lloyds Banking Group plc ± 0.50 12/11/2025 Banks 1,400,000 EUR 1,393,101 0.49 Mondi Finance plc 1.50 15/4/2024 Forest Products & Paper 1,500,000 EUR 1,564,119 0.55 NatWest Markets plc 0.63 2/3/2022 Banks 1,850,000 EUR 1,858,451 0.66 Pinewood Finance Company Limited 3.25 30/9/2025 Entertainment 800,000 GBP 876,573 0.31 Rentokil Initial plc 0.95 22/11/2024 Commercial Services 1,200,000 EUR 1,231,538 0.43 SSE plc 1.25 16/4/2025 Electric 1,450,000 EUR 1,511,180 0.53 Tesco Corporate Treasury Services plc 0.88 29/5/2026 Food 700,000 EUR 711,994 0.25 Virgin Money UK plc ± 2.88 24/6/2025 Banks 600,000 EUR 609,048 0.21 Vodafone Group plc 0.50 30/1/2024 Telecommunications 500,000 EUR 506,990 0.18 Vodafone Group plc 1.75 25/8/2023 Telecommunications 2,100,000 EUR 2,205,486 0.78 28,843,082 10.16

United States AbbVie Incorporated 1.38 17/5/2024 Pharmaceuticals 1,500,000 EUR 1,559,697 0.55 Altria Group Incorporated 1.00 15/2/2023 Agriculture 1,900,000 EUR 1,936,385 0.68 American Express Credit Corporation 0.63 22/11/2021 Diversified Financial Services 1,500,000 EUR 1,513,080 0.53 AT&T Incorporated 1.30 5/9/2023 Telecommunications 2,500,000 EUR 2,581,045 0.91 Berkshire Hathaway Incorporated (z) 0.00 12/3/2025 Insurance 750,000 EUR 748,162 0.26 Booking Holdings Incorporated 2.38 23/9/2024 Internet 2,400,000 EUR 2,560,349 0.90 Capital One Financial Corporation 0.80 12/6/2024 Diversified Financial Services 1,950,000 EUR 1,951,170 0.69 Celanese US Holdings LLC 1.13 26/9/2023 Chemicals 1,740,000 EUR 1,753,955 0.62 Citigroup Incorporated 0.75 26/10/2023 Banks 1,200,000 EUR 1,222,862 0.43 Digital Euro Finco LLC 2.63 15/4/2024 REIT 1,300,000 EUR 1,406,205 0.50 Discovery Communications LLC 2.38 7/3/2022 Media 600,000 EUR 616,588 0.22 Ecolab Incorporated 1.00 15/1/2024 Chemicals 500,000 EUR 516,096 0.18 Fidelity National Information Services Incorporated 0.75 21/5/2023 Software 2,300,000 EUR 2,341,543 0.83 Fiserv Incorporated 0.38 1/7/2023 Software 1,500,000 EUR 1,512,063 0.53 Goldman Sachs Group Incorporated 0.13 19/8/2024 Banks 1,300,000 EUR 1,289,327 0.45 Goldman Sachs Group Incorporated 1.38 15/5/2024 Banks 1,600,000 EUR 1,644,960 0.58 Goldman Sachs Group Incorporated 4.75 12/10/2021 Banks 500,000 EUR 522,509 0.18 Jefferies Group LLC 1.00 19/7/2024 Diversified Financial Services 2,400,000 EUR 2,376,821 0.84 JPMorgan Chase & Company 0.63 25/1/2024 Banks 1,600,000 EUR 1,625,600 0.57 Morgan Stanley ± 0.64 26/7/2024 Banks 1,400,000 EUR 1,416,554 0.50 Morgan Stanley 1.75 11/3/2024 Banks 2,100,000 EUR 2,212,388 0.78 PepsiCo Incorporated 0.25 6/5/2024 Beverages 1,000,000 EUR 1,012,322 0.36 Thermo Fisher Scientific Incorporated 0.13 1/3/2025 Healthcare – Products 1,900,000 EUR 1,900,952 0.67 36,220,633 12.76 Total Corporate Bonds and Notes 257,671,168 90.76 Total Transferable Securities and Money Market Instruments 257,671,168 90.76

The accompanying notes are an integral part of these financial statements.

26 | Wells Fargo (Lux) Worldwide Fund

Portfolio of investments as at 30 September 2020 (unaudited)

EUR SHORT DURATION CREDIT FUND Interest Market % of Rate Maturity Value Net % Date Industry Nominal @ EUR Assets

Other Transferable Securities

Corporate Bonds and Notes United States AbbVie Incorporated 1.25 1/6/2024 Pharmaceuticals 1,300,000 EUR 1,346,194 0.48 Total Corporate Bonds and Notes 1,346,194 0.48 Total Other Transferable Securities 1,346,194 0.48 Total Investments in Securities 259,017,362 91.24

Cash at Banks Time Deposits Japan Sumitomo Mitsui Banking Corporation (o) (0.69) 16,878,121 EUR 16,878,121 5.94

United Kingdom Citibank (o) 0.01 182,378 GBP 200,718 0.07 ANZ (o) 0.01 156,268 USD 133,283 0.05 334,001 0.12 Total Time Deposits 17,212,122 6.06 Total Cash at Banks 17,212,122 6.06

Other Assets and Liabilities, Net 7,662,011 2.70 Total Net Assets 283,891,495 100.00

Key: EUR Euro GBP BritishPound REIT Real Estate InvestmentTrust USD United States Dollar

The securities have been classified based upon country of incorporation/domiciliation.

The accompanying notes are an integral part of these financial statements.

Wells Fargo (Lux) Worldwide Fund | 27

Portfolio of investments as at 30 September 2020 (unaudited)

GLOBAL EQUITY FUND Market % of Value Net Industry Shares USD Assets

Transferable securities and money market instruments admitted to an official stock exchange listing or dealt in on another regulated market

Common Shares France Air Liquide SA Chemicals 10,360 1,642,161 2.26 Airbus SE Aerospace/Defense 12,500 906,570 1.25 AXA SA Insurance 46,540 861,361 1.18 Capgemini SE Computers 14,480 1,857,718 2.56 5,267,810 7.25

Germany Deutsche Telekom AG Telecommunications 82,460 1,372,963 1.89 SAP SE Software 5,980 931,195 1.28 2,304,158 3.17

Hong Kong AIA Group Limited Insurance 158,800 1,578,487 2.17

Ireland AerCap Holdings NV Diversified Financial Services 27,470 691,969 0.95 Medtronic plc Healthcare – Products 17,310 1,798,855 2.48 2,490,824 3.43

Japan Nidec Corporation Electronics 16,000 1,500,447 2.07 ORIX Corporation Diversified Financial Services 82,300 1,027,949 1.42 Renesas Electronics Corporation Semiconductors 209,300 1,536,187 2.11 Sony Corporation Home Furnishings 24,900 1,908,387 2.63 5,972,970 8.23

Switzerland Nestle SA Food 12,870 1,531,685 2.11 Novartis AG ADR Pharmaceuticals 14,530 1,263,529 1.74 Roche Holding AG Pharmaceuticals 3,290 1,126,958 1.55 3,922,172 5.40

United Kingdom Unilever NV Cosmetics/Personal Care 26,290 1,587,916 2.19

United States Advance Auto Parts Incorporated Retail 8,810 1,352,335 1.86 Alphabet Incorporated Internet 1,810 2,659,976 3.66 Amazon.com Incorporated Internet 910 2,865,344 3.94 American International Group Incorporated Insurance 35,750 984,197 1.36 Apple Incorporated Computers 13,360 1,547,222 2.13 Bank of America Corporation Banks 51,350 1,237,021 1.70 Chevron Corporation Oil & Gas Services 13,300 957,600 1.32 Cigna Corporation Pharmaceuticals 9,720 1,646,665 2.27 Coca-Cola Company Beverages 30,190 1,490,480 2.05 Comcast Corporation Media 40,880 1,891,109 2.60 Dollar Tree Incorporated Retail 13,520 1,234,917 1.70 Eli Lilly & Company Pharmaceuticals 5,230 774,145 1.07 EOG Resources Incorporated Oil & Gas Services 10,840 389,590 0.54 Fiserv Incorporated Software 15,080 1,553,994 2.14 Goldman Sachs Group Incorporated Banks 3,550 713,443 0.98 Honeywell International Incorporated Electronics 10,630 1,749,804 2.41

The accompanying notes are an integral part of these financial statements.

28 | Wells Fargo (Lux) Worldwide Fund

Portfolio of investments as at 30 September 2020 (unaudited)

GLOBAL EQUITY FUND Market % of Value Net Industry Shares USD Assets

Transferable securities and money market instruments admitted to an official stock exchange listing or dealt in on another regulated market

Common Shares (continued)

United States (continued) Intercontinental Exchange Incorporated Diversified Financial Services 17,630 1,763,882 2.43 Marsh & McLennan Companies Incorporated Insurance 12,020 1,378,694 1.90 Merck & Company Incorporated Pharmaceuticals 21,270 1,764,347 2.43 Microsoft Corporation Software 17,900 3,764,907 5.18 Mondelez International Incorporated Food 28,910 1,660,880 2.29 Motorola Solutions Incorporated Telecommunications 12,130 1,902,105 2.62 Northrop Grumman Corporation Aerospace/Defense 4,810 1,517,507 2.09 ON Semiconductor Corporation Semiconductors 93,200 2,021,508 2.78 Samsonite International SA Apparel 611,200 620,621 0.85 Stryker Corporation Healthcare – Products 6,300 1,312,731 1.81 Truist Financial Corporation Banks 27,250 1,036,863 1.43 Visa Incorporated Diversified Financial Services 13,520 2,703,594 3.72 Vulcan Materials Company Building Materials 8,550 1,158,867 1.60 Walt Disney Company Media 12,020 1,491,442 2.05 Waste Management Incorporated Environmental Control 9,730 1,101,144 1.52 48,246,934 66.43 Total Common Shares 71,371,271 98.27 Total Investments in Securities 71,371,271 98.27

Interest Rate % Nominal @

Cash at Banks

Time Deposits

Cayman Islands BBH Grand Cayman (o) 0.01 56,281 HKD 7,262 0.01 BBH Grand Cayman (o) 0.01 40 SGD 29 0.00 7,291 0.01

Singapore DBS Bank Limited (o) 0.01 1,142,046 USD 1,142,046 1.57 Total Time Deposits 1,149,337 1.58 Total Cash at Banks 1,149,337 1.58

Other Assets and Liabilities, Net 111,836 0.15

Total Net Assets 72,632,444 100.00

@ Nominal amount is denominated in currency indicated. (o) Overnight deposit.

Key: ADR American Depository Receipt HKD Hong KongDollar SGD Singapore Dollar USD United States Dollar

The securities have been classified based upon country of incorporation/domiciliation.

The accompanying notes are an integral part of these financial statements.

Wells Fargo (Lux) Worldwide Fund | 29

Portfolio of investments as at 30 September 2020 (unaudited)

GLOBAL EQUITY ENHANCED INCOME FUND Market % of Value Net Industry Shares USD Assets

Transferable securities and money market instruments admitted to an official stock exchange listing or dealt in on another regulated market

Common Shares Australia Fortescue Metals Group Limited Iron/Steel 34,964 410,758 1.32

Belgium Euronav NV Transportation 35,847 317,407 1.02

Canada Barrick Gold Corporation Mining 16,562 465,186 1.49 TFI International Incorporated Transportation 6,894 288,279 0.93 753,465 2.42

China Alibaba Group Holding Limited Internet 9,100 334,071 1.07 Lenovo Group Limited Computers 470,000 310,746 1.00 Logan Group Company Limited Real Estate 208,000 330,968 1.06 NetEase Incorporated ADR Software 925 420,570 1.35 1,396,355 4.48

France Eutelsat Communications SA Telecommunications 26,217 255,345 0.82 Sanofi Pharmaceuticals 3,881 388,922 1.25 Schneider Electric SE Electrical Components & Equipment 4,006 497,941 1.59 1,142,208 3.66

Germany Brenntag AG Chemicals 4,259 270,795 0.87 SAP SE Software 1,879 292,595 0.94 563,390 1.81

Hong Kong China Mobile Limited Telecommunications 43,000 276,029 0.88 China Resources Cement Holdings Limited Building Materials 190,000 261,203 0.84 WH Group Limited Food 403,500 329,138 1.06 866,370 2.78

Israel Plus500 Limited Diversified Financial Services 17,624 356,256 1.14

Japan KDDI Corporation Telecommunications 16,200 407,455 1.30 Nintendo Company Limited Toys/Games/Hobbies 600 340,015 1.09 Obayashi Corporation Engineering & Construction 30,300 276,618 0.89 ORIX Corporation Diversified Financial Services 19,200 239,813 0.77 1,263,901 4.05

Netherlands Adyen NV Commercial Services 165 304,340 0.98 Akzo Nobel NV Chemicals 3,115 314,835 1.01 ASML Holding NV Semiconductors 1,127 416,284 1.33 ING Groep NV Banks 38,580 275,340 0.88 Koninklijke Ahold Delhaize NV Food 13,303 393,209 1.26 1,704,008 5.46

The accompanying notes are an integral part of these financial statements.

30 | Wells Fargo (Lux) Worldwide Fund

Portfolio of investments as at 30 September 2020 (unaudited)

GLOBAL EQUITY ENHANCED INCOME FUND Market % of Value Net Industry Shares USD Assets

Transferable securities and money market instruments admitted to an official stock exchange listing or dealt in on another regulated market

Common Shares (continued) South Korea Samsung Electronics Company Limited GDR Semiconductors 348 441,238 1.41

Spain Red Electrica Corporation SA Electric 20,785 389,830 1.25

Switzerland Nestle SA Food 2,603 309,788 0.99 Roche Holding AG Pharmaceuticals 1,135 388,784 1.25 698,572 2.24

Taiwan Taiwan Semiconductor Manufacturing Company Limited ADR Semiconductors 5,831 472,719 1.52

United Kingdom Berkeley Group Holdings plc Home Builders 5,594 304,944 0.98 Drax Group plc Electric 113,743 390,496 1.25 GlaxoSmithKline plc Pharmaceuticals 15,049 282,131 0.90 Intermediate Capital Group plc Private Equity 17,856 274,623 0.88 Rio Tinto plc Mining 7,395 444,976 1.43 1,697,170 5.44

United States AbbVie Incorporated Pharmaceuticals 4,167 364,987 1.17 AGNC Investment Corporation REIT 21,667 301,388 0.97 Alphabet Incorporated Internet 320 468,992 1.50 Amazon.com Incorporated Internet 196 617,151 1.98 Amgen Incorporated Biotechnology 1,538 390,898 1.25 Apple Incorporated Computers 7,213 835,338 2.68 Ares Capital Corporation Investment Companies 20,351 283,896 0.91 Artisan Partners Asset Management Incorporated Diversified Financial Services 9,846 383,896 1.23 Best Buy Company Incorporated Retail 3,674 408,879 1.31 BlackRock Incorporated Diversified Financial Services 734 413,646 1.33 Bristol-Myers Squibb Company Pharmaceuticals 6,816 410,937 1.32 Citigroup Incorporated Banks 5,026 216,671 0.69 ConocoPhillips Oil & Gas Services 6,615 217,237 0.70 Cummins Incorporated Auto Manufacturers 2,048 432,456 1.39 CVS Health Corporation Pharmaceuticals 7,101 414,698 1.33 eBay Incorporated Internet 7,961 414,768 1.33 Facebook Incorporated Internet 1,015 265,828 0.85 Home Depot Incorporated Retail 2,139 594,022 1.91 Honeywell International Incorporated Electronics 2,985 491,361 1.58 Johnson & Johnson Pharmaceuticals 2,923 435,176 1.40 JPMorgan Chase & Company Banks 5,555 534,780 1.72 Keysight Technologies Incorporated Electronics 3,483 344,051 1.10 KLA Corporation Semiconductors 2,145 415,572 1.33 Leidos Holdings Incorporated Computers 3,568 318,087 1.02 LyondellBasell Industries NV Chemicals 3,633 256,090 0.82 Microsoft Corporation Software 4,533 953,426 3.06 Morgan Stanley Banks 8,577 414,698 1.33 National Fuel Gas Company Oil & Gas Services 7,753 314,694 1.01 New Residential Investment Corporation REIT 35,158 279,506 0.90 NVIDIA Corporation Semiconductors 590 319,320 1.02

The accompanying notes are an integral part of these financial statements.

Wells Fargo (Lux) Worldwide Fund | 31

Portfolio of investments as at 30 September 2020 (unaudited)

GLOBAL EQUITY ENHANCED INCOME FUND Market % of Value Net Industry Shares USD Assets

Transferable securities and money market instruments admitted to an official stock exchange listing or dealt in on another regulated market

Common Shares (continued) United States (continued) Procter & Gamble Company Cosmetics/Personal Care 3,882 539,559 1.73 PulteGroup Incorporated Home Builders 7,619 352,683 1.13 Qualcomm Incorporated Semiconductors 3,321 390,815 1.25 Target Corporation Retail 2,943 463,287 1.49 Texas Instruments Incorporated Semiconductors 3,343 477,347 1.53 Union Pacific Corporation Transportation 2,388 470,126 1.51 UnitedHealth Group Incorporated Healthcare – Services 1,207 376,306 1.21 Valero Energy Corporation Oil & Gas Services 5,368 232,542 0.75 Valvoline Incorporated Chemicals 14,144 269,302 0.86 Verizon Communications Incorporated Telecommunications 10,597 630,416 2.02 Walmart Incorporated Retail 3,510 491,084 1.58 17,205,916 55.20 Total Common Shares 29,679,563 95.20 Total Investments in Securities 29,679,563 95.20

Interest Rate % Nominal @ Cash at Banks Time Deposits Cayman Islands BBH Grand Cayman (o) 0.01 59,211 HKD 7,640 0.03

Sweden Skandinaviska Enskilda Banken AB (o) 0.01 1,459,368 USD 1,459,368 4.68 Total Time Deposits 1,467,008 4.71 Current Accounts at Bank 85,483 0.27 Total Cash at Banks 1,552,491 4.98

Other Assets and Liabilities, Net (54,728) (0.18)

Total Net Assets 31,177,326 100.00

@ Nominal amount is denominated in currency indicated. (o) Overnight deposit.

Key: ADR American Depository Receipt GDR Global Depository Receipt HKD Hong Kong Dollar REIT Real Estate Investment Trust USD United States Dollar

The securities have been classified based upon country of incorporation/domiciliation.

The accompanying notes are an integral part of these financial statements.

32 | Wells Fargo (Lux) Worldwide Fund

Portfolio of investments as at 30 September 2020 (unaudited)

GLOBAL FACTOR ENHANCED EQUITY FUND Market % of Value Net Industry Shares USD Assets

Transferable securities and money market instruments admitted to an official stock exchange listing or dealt in on another regulated market

Common Shares Australia AGL Energy Limited Electric 3,379 33,017 0.10 Coca-Cola Amatil Limited Beverages 5,225 35,790 0.10 Coles Group Limited Food 4,723 57,579 0.17 CSL Limited Biotechnology 289 59,740 0.17 Fortescue Metals Group Limited Iron/Steel 8,915 104,807 0.30 Goodman Group REIT 2,115 27,403 0.08 Lendlease Corporation Limited Engineering & Construction 5,019 40,122 0.12 Magellan Financial Group Limited Diversified Financial Services 1,519 62,693 0.18 Mirvac Group REIT 30,581 47,972 0.14 469,123 1.36

Austria Erste Group Bank AG Banks 1,377 28,840 0.08 OMV AG Oil & Gas Services 2,968 81,221 0.24 Raiffeisen Bank International AG Banks 4,853 74,293 0.21 184,354 0.53

Belgium Elia Group SA Electric 495 49,493 0.14 Sofina SA Investment Companies 367 100,210 0.29 UCB SA Pharmaceuticals 386 43,847 0.13 Umicore SA Chemicals 1,961 81,581 0.23 275,131 0.79

Bermuda RenaissanceRe Holdings Limited Insurance 191 32,420 0.09

Canada Air Canada Airlines 5,400 63,429 0.18 Algonquin Power & Utilities Corporation Electric 6,800 98,455 0.28 Alimentation Couche-Tard Incorporated Retail 1,700 59,015 0.17 Atco Limited Electric 2,600 74,920 0.22 Barrick Gold Corporation Mining 1,200 33,599 0.10 Brookfield Asset Management Incorporated Private Equity 1,100 36,284 0.10 Canadian Natural Resources Limited Oil & Gas Services 2,000 31,952 0.09 Cenovus Energy Incorporated Oil & Gas Services 11,400 44,294 0.13 CGI Incorporated Computers 800 54,130 0.16 CI Financial Corporation Diversified Financial Services 6,500 82,190 0.24 Empire Company Limited Food 2,900 83,912 0.24 Imperial Oil Limited Oil & Gas Services 2,700 32,220 0.09 Keyera Corporation Pipelines 2,900 43,638 0.13 Lululemon Athletica Incorporated Retail 189 62,251 0.18 Magna International Incorporated Auto Parts & Equipment 2,200 100,353 0.29 900,642 2.60

Denmark Carlsberg AS Beverages 226 30,458 0.09 Coloplast AS Healthcare – Products 602 95,443 0.28 Novo Nordisk AS Pharmaceuticals 2,143 148,527 0.43 Pandora AS Retail 539 38,895 0.11 313,323 0.91

The accompanying notes are an integral part of these financial statements.

Wells Fargo (Lux) Worldwide Fund | 33

Portfolio of investments as at 30 September 2020 (unaudited)

GLOBAL FACTOR ENHANCED EQUITY FUND Market % of Value Net Industry Shares USD Assets

Transferable securities and money market instruments admitted to an official stock exchange listing or dealt in on another regulated market

Common Shares (continued) Finland Elisa OYJ Telecommunications 1,770 104,078 0.30 Neste OYJ Oil & Gas Services 1,927 101,492 0.29 Orion OYJ Pharmaceuticals 1,793 81,249 0.24 286,819 0.83

France Arkema SA Chemicals 327 34,676 0.10 Atos SE Computers 388 31,183 0.09 BNP Paribas SA Banks 908 32,852 0.09 Covivio REIT 188 13,203 0.04 Faurecia SE Auto Parts & Equipment 1,003 43,241 0.13 Gecina SA REIT 510 67,243 0.19 Iliad SA Internet 756 138,700 0.40 L’Oreal SA Cosmetics/Personal Care 154 50,125 0.14 Sartorius Stedim Biotech Healthcare – Products 192 66,283 0.19 Sodexo SA Food Service 514 36,646 0.11 Teleperformance Computers 110 33,919 0.10 548,071 1.58

Germany Deutsche Wohnen SE Real Estate 934 46,689 0.14 E.ON SE Electric 3,009 33,172 0.10 Hannover Rueck SE Insurance 136 21,058 0.06 Henkel AG & Company KGaA Household Products/Wares 425 39,756 0.11 Merck KGaA Pharmaceuticals 1,073 156,462 0.45 Muenchener Rueckversicherungs-Gesellschaft AG in Muenchen Insurance 313 79,584 0.23 Nemetschek SE Software 631 46,128 0.13 Puma SE Apparel 869 78,132 0.23 Uniper SE Electric 5,224 168,655 0.49 United Internet AG Internet 744 28,458 0.08 Zalando SE Retail 453 42,331 0.12 740,425 2.14

Hong Kong CK Asset Holdings Limited Real Estate 7,000 34,396 0.10 CK Hutchison Holdings Limited Holding Companies – Diversified 5,000 30,299 0.08 Galaxy Entertainment Group Limited Lodging 5,000 33,804 0.10 98,499 0.28

Ireland Accenture plc Computers 935 211,301 0.61 Allegion plc Electronics 316 31,255 0.09 DCC plc Oil & Gas Services 268 20,786 0.06 Jazz Pharmaceuticals plc Pharmaceuticals 246 35,077 0.10 Trane Technologies plc Miscellaneous Manufacturers 188 22,795 0.07 321,214 0.93

Israel Check Point Software Technologies Limited Computers 556 66,909 0.20 Nice Limited Telecommunications 171 38,831 0.11 105,740 0.31

The accompanying notes are an integral part of these financial statements.

34 | Wells Fargo (Lux) Worldwide Fund

Portfolio of investments as at 30 September 2020 (unaudited)

GLOBAL FACTOR ENHANCED EQUITY FUND Market % of Value Net Industry Shares USD Assets

Transferable securities and money market instruments admitted to an official stock exchange listing or dealt in on another regulated market

Common Shares (continued) Italy Enel SpA Electric 4,329 37,565 0.11 Mediobanca Banca di Credito Finanziario SpA Banks 3,168 24,828 0.07 Poste Italiane SpA Transportation 2,204 19,535 0.06 Prysmian SpA Electrical Components & Equipment 1,864 54,117 0.16 Recordati Industria Chimica e Farmaceutica SpA Pharmaceuticals 2,932 150,217 0.43 Terna Rete Elettrica Nazionale SpA Electric 6,015 42,093 0.12 328,355 0.95

Japan Advantest Corporation Semiconductors 1,100 53,472 0.15 Astellas Pharma Incorporated Pharmaceuticals 3,600 53,631 0.16 Brother Industries Limited Electrical Components & Equipment 1,700 27,026 0.08 Chugai Pharmaceutical Company Limited Pharmaceuticals 1,500 67,272 0.19 Chugoku Electric Power Company Incorporated Electric 9,700 121,203 0.35 Cosmos Pharmaceutical Corporation Retail 300 52,249 0.15 Daicel Corporation Chemicals 4,500 32,414 0.09 Daifuku Company Limited Machinery – Diversified 400 40,350 0.12 Daito Trust Construction Company Limited Real Estate 400 35,436 0.10 ENEOS Holdings Incorporated Oil & Gas Services 9,200 32,804 0.10 Fujitsu Limited Computers 1,100 150,187 0.43 Fukuoka Financial Group Incorporated Banks 3,600 60,471 0.18 Hakuhodo DY Holdings Incorporated Advertising 3,100 40,062 0.12 Hino Motors Limited Auto Manufacturers 6,000 38,908 0.11 Hitachi Limited Machinery-Construction & Mining 1,000 33,839 0.10 Hoya Corporation Electronics 400 45,139 0.13 ITOCHU Corporation Distribution/Wholesale 1,600 40,944 0.12 Itochu Techno-Solutions Corporation Computers 3,600 136,483 0.39 JSR Corporation Miscellaneous Manufacturers 1,500 35,630 0.10 Kamigumi Company Limited Transportation 1,600 31,509 0.09 KAO Corporation Cosmetics/Personal Care 400 30,010 0.09 KDDI Corporation Telecommunications 3,600 90,490 0.26 Mazda Motor Corporation Auto Manufacturers 5,700 33,414 0.10 Mitsubishi Gas Chemical Company Incorporated Chemicals 1,900 35,325 0.10 Murata Manufacturing Company Limited Electronics 700 45,491 0.13 Nexon Company Limited Software 1,900 47,364 0.14 NH Foods Limited Food 800 35,737 0.10 Nippon Express Company Limited Transportation 1,900 110,803 0.32 Nippon Telegraph & Telephone Corporation Telecommunications 2,100 42,849 0.12 Nomura Research Institute Limited Computers 3,900 114,763 0.33 NTT DOCOMO Incorporated Telecommunications 1,400 51,413 0.15 Obayashi Corporation Engineering & Construction 3,300 30,108 0.09 Omron Corporation Electronics 500 39,069 0.11 Oracle Corporation Japan Software 600 64,746 0.19 Osaka Gas Company Limited Oil & Gas Services 1,700 33,077 0.10 Otsuka Corporation Computers 4,000 204,280 0.59 Pan Pacific International Holdings Corporation Retail 1,600 37,238 0.11 SCSK Corporation Computers 700 39,140 0.11 Shimizu Corporation Engineering & Construction 3,500 26,332 0.08 SoftBank Corporation Telecommunications 2,900 32,386 0.09 Square Enix Holdings Company Limited Software 700 46,298 0.13 Sundrug Company Limited Retail 1,000 37,672 0.11 Taiheiyo Cement Corporation Building Materials 1,900 48,484 0.14

The accompanying notes are an integral part of these financial statements.

Wells Fargo (Lux) Worldwide Fund | 35

Portfolio of investments as at 30 September 2020 (unaudited)

GLOBAL FACTOR ENHANCED EQUITY FUND Market % of Value Net Industry Shares USD Assets

Transferable securities and money market instruments admitted to an official stock exchange listing or dealt in on another regulated market

Common Shares (continued) Japan (continued) TIS Incorporated Software 2,000 42,454 0.12 Toho Gas Company Limited Oil & Gas Services 500 24,725 0.07 Tohoku Electric Power Company Incorporated Electric 4,400 44,070 0.13 Tokyo Electron Limited Semiconductors 300 78,328 0.23 Tosoh Corporation Chemicals 9,500 154,147 0.45 Toyo Suisan Kaisha Limited Food 600 31,664 0.09 Toyoda Gosei Company Limited Auto Parts & Equipment 3,800 87,198 0.25 Trend Micro Incorporated Internet 600 36,541 0.11 Tsuruha Holdings Incorporated Retail 400 56,672 0.16 Welcia Holdings Company Limited Retail 1,000 43,826 0.13 Z Holdings Corporation Internet 5,600 37,382 0.11 ZOZO Incorporated Internet 1,400 39,042 0.11 3,081,567 8.91

Jordan Hikma Pharmaceuticals plc Pharmaceuticals 1,188 39,894 0.11

Netherlands Koninklijke Ahold Delhaize NV Food 1,535 45,379 0.13 Koninklijke DSM NV Chemicals 182 29,968 0.09 Koninklijke Vopak NV Pipelines 735 41,423 0.12 Randstad NV Commercial Services 2,671 139,304 0.40 256,074 0.74

New Zealand Fisher & Paykel Healthcare Corporation Limited Healthcare – Products 1,728 38,106 0.11 Spark New Zealand Limited Telecommunications 32,834 102,367 0.30 140,473 0.41

Portugal Jeronimo Martins SGPS SA Food 2,719 43,730 0.13

Singapore Ascendas Real Estate Investment Trust REIT 35,200 84,228 0.25 Singapore Technologies Engineering Limited Engineering & Construction 7,200 18,347 0.05 Venture Corporation Limited Electronics 6,400 90,870 0.26 Wilmar International Limited Food 24,300 78,896 0.23 272,341 0.79

Spain Aena SME SA Engineering & Construction 267 37,180 0.11 Bankinter SA Banks 6,652 28,642 0.08 CaixaBank SA Banks 14,663 31,133 0.09 Grifols SA Pharmaceuticals 1,716 49,352 0.14 Iberdrola SA Electric 9,460 116,459 0.34 Mapfre SA Insurance 7,095 11,133 0.03 273,899 0.79

Sweden Atlas Copco AB Class A Machinery – Diversified 782 37,309 0.11 Atlas Copco AB Class B Machinery – Diversified 4,644 193,939 0.56 Autoliv Incorporated Auto Parts & Equipment 1,115 81,261 0.23

The accompanying notes are an integral part of these financial statements.

36 | Wells Fargo (Lux) Worldwide Fund

Portfolio of investments as at 30 September 2020 (unaudited)

GLOBAL FACTOR ENHANCED EQUITY FUND Market % of Value Net Industry Shares USD Assets

Transferable securities and money market instruments admitted to an official stock exchange listing or dealt in on another regulated market

Common Shares (continued) Sweden (continued) Boliden AB Mining 2,669 0.23 79,243 Epiroc AB Class A Machinery-Construction & Mining 2,568 0.11 37,225 Epiroc AB Class B Machinery-Construction & Mining 9,136 0.37 126,897 Evolution Gaming Group AB Entertainment 729 0.14 48,199 Investor AB Investment Companies 2,270 0.43 148,373 Kinnevik AB Investment Companies 3,479 0.41 141,299 L E Lundbergforetagen AB Investment Companies 2,549 0.36 126,026 Skanska AB Engineering & Construction 1,817 0.11 38,398 SKF AB Metal Fabricate/Hardware 1,182 0.07 24,401 Swedish Match AB Agriculture 938 0.22 76,747 Volvo AB Auto Manufacturers 1,996 0.11 38,368 1,197,685 3.46

Switzerland Adecco Group AG Commercial Services 2,097 0.32110,926 Banque Cantonale Vaudoise Banks 439 0.13 44,662 Barry Callebaut AG Food 14 0.09 31,261 Coca-Cola HBC AG Beverages 1,302 0.09 32,211 Kuehne + Nagel International AG Transportation 610 0.34 118,742 Roche Holding AG Pharmaceuticals 626 0.62 214,967 Schindler Holding AG Hand/Machine Tools 616 0.49 168,577 Schindler Holding AG Hand/Machine Tools 314 0.25 85,432 STMicroelectronics NV Semiconductors 1,182 0.11 36,258 Swatch Group AG Retail 1,023 0.13 46,183 Swisscom AG Telecommunications 210 0.32 111,528 TE Connectivity Limited Electronics 632 0.18 61,772 1,062,519 3.07

United Kingdom Anglo American plc Mining 3,050 0.2173,931 BAE Systems plc Aerospace/Defense 6,210 0.11 38,641 Capri Holdings Limited Apparel 507 0.039,126 Compass Group plc Food Service 864 13,003 0.04 Fiat Chrysler Automobiles NV Auto Manufacturers 5,417 66,505 0.19 GlaxoSmithKline plc Pharmaceuticals 3,004 0.1656,424 Johnson Matthey plc Chemicals 3,232 98,400 0.29 Rio Tinto Limited Mining 1,153 0.23 78,806 Rio Tinto plc Mining 575 0.10 34,665 Sage Group plc Software 3,781 0.10 35,204 Segro plc REIT 6,755 0.24 81,333 Unilever NV Cosmetics/Personal Care 570 0.1034,621 Unilever plc Cosmetics/Personal Care 2,308 0.41 142,566 763,225 2.21

United States 3M Company Miscellaneous Manufacturers 440 0.20 70,479 AbbVie Incorporated Pharmaceuticals 1,372 0.35 120,174 Activision Blizzard Incorporated Software 1,281 0.30 103,697 Adobe Incorporated Software 236 0.33 115,742 Advanced Micro Devices Incorporated Semiconductors 987 0.23 80,924 AGNC Investment Corporation REIT 4,198 0.17 58,394 Akamai Technologies Incorporated Software 379 0.12 41,895

The accompanying notes are an integral part of these financial statements.

Wells Fargo (Lux) Worldwide Fund | 37

Portfolio of investments as at 30 September 2020 (unaudited)

GLOBAL FACTOR ENHANCED EQUITY FUND Market % of Value Net Industry Shares USD Assets

Transferable securities and money market instruments admitted to an official stock exchange listing or dealt in on another regulated market

Common Shares (continued) United States (continued) Alexion Pharmaceuticals Incorporated Biotechnology 494 56,528 0.16 Align Technology Incorporated Healthcare – Products 105 34,373 0.10 Alliant Energy Corporation Electric 636 32,849 0.09 Allstate Corporation Insurance 1,333 125,489 0.36 Ally Financial Incorporated Diversified Financial Services 1,147 28,755 0.08 Alphabet Incorporated Class A Internet 141 206,650 0.60 Alphabet Incorporated Class C Internet 138 202,805 0.59 Amazon.com Incorporated Internet 175 551,028 1.59 AMERCO Commercial Services 118 42,006 0.12 American International Group Incorporated Insurance 1,119 30,806 0.09 American Tower Corporation REIT 219 52,939 0.15 Ameriprise Financial Incorporated Diversified Financial Services 776 119,589 0.35 Amgen Incorporated Biotechnology 570 144,871 0.42 ANSYS Incorporated Software 192 62,828 0.18 Anthem Incorporated Healthcare – Services 126 33,842 0.10 Apple Incorporated Computers 7,115 823,988 2.38 Applied Materials Incorporated Semiconductors 1,980 117,711 0.34 Arch Capital Group Limited Insurance 1,137 33,257 0.10 Archer-Daniels-Midland Company Agriculture 2,894 134,542 0.39 Arista Networks Incorporated Telecommunications 233 48,215 0.14 Arrow Electronics Incorporated Electronics 435 34,217 0.10 Arthur J Gallagher & Company Insurance 251 26,501 0.08 AT&T Incorporated Telecommunications 2,370 67,569 0.20 Athene Holding Limited Insurance 2,697 91,914 0.27 Avery Dennison Corporation Household Products/Wares 624 79,772 0.23 Bank of America Corporation Banks 2,072 49,914 0.14 Best Buy Company Incorporated Retail 1,380 153,580 0.44 Biogen Incorporated Biotechnology 491 139,287 0.40 Bio-Rad Laboratories Incorporated Biotechnology 360 185,566 0.54 BlackRock Incorporated Diversified Financial Services 79 44,520 0.13 Booking Holdings Incorporated Internet 33 56,452 0.16 Booz Allen Hamilton Holding Corporation Commercial Services 2,233 185,294 0.54 BorgWarner Incorporated Auto Parts & Equipment 1,776 68,802 0.20 Bristol-Myers Squibb Company Pharmaceuticals 585 35,270 0.10 Broadridge Financial Solutions Incorporated Software 574 75,768 0.22 Brown & Brown Incorporated Insurance 1,298 58,760 0.17 Brown-Forman Corporation Beverages 2,095 157,795 0.46 Cable One Incorporated Media 29 54,677 0.16 Cadence Design Systems Incorporated Software 1,671 178,179 0.52 Caterpillar Incorporated Machinery-Construction & Mining 234 34,901 0.10 CDK Global Incorporated Software 1,926 83,954 0.24 CDW Corporation Internet 1,699 203,081 0.59 Celanese Corporation Chemicals 363 39,004 0.11 Centene Corporation Healthcare – Services 500 29,165 0.08 CenturyLink Incorporated Telecommunications 3,287 33,166 0.10 CH Robinson Worldwide Incorporated Transportation 708 72,351 0.21 Chipotle Mexican Grill Incorporated Retail 44 54,723 0.16 Cigna Corporation Pharmaceuticals 379 64,206 0.19 Cisco Systems Incorporated Telecommunications 1,982 78,071 0.23 Citigroup Incorporated Banks 1,084 46,731 0.14 Citizens Financial Group Incorporated Banks 2,068 52,279 0.15 Citrix Systems Incorporated Software 623 85,793 0.25

The accompanying notes are an integral part of these financial statements.

38 | Wells Fargo (Lux) Worldwide Fund Portfolio of investments as at 30 September 2020 (unaudited)

GLOBAL FACTOR ENHANCED EQUITY FUND Market % of Value Net Industry Shares USD Assets

Transferable securities and money market instruments admitted to an official stock exchange listing or dealt in on another regulated market

Common Shares (continued) United States (continued) Clorox Company Household Products/Wares 661 0.40 138,922 Coca-Cola Company Beverages 2,155 0.31 106,392 Cognizant Technology Solutions Corporation Computers 1,205 0.24 83,651 Colgate-Palmolive Company Cosmetics/Personal Care 455 0.10 35,103 Comcast Corporation Media 1,022 0.14 47,278 Comerica Incorporated Banks 859 0.09 32,857 ConocoPhillips Oil & Gas Services 818 0.08 26,863 Copart Incorporated Distribution/Wholesale 334 0.10 35,123 Costco Wholesale Corporation Retail 370 0.38 131,350 Crown Castle International Corporation REIT 188 0.09 31,302 Crown Holdings Incorporated Packaging & Containers 1,229 0.27 94,461 CSX Corporation Transportation 543 0.12 42,175 Cummins Incorporated Auto Manufacturers 647 0.39 136,621 CVS Health Corporation Pharmaceuticals 1,170 0.20 68,328 DaVita Incorporated Healthcare – Services 630 53,960 0.16 Delta Air Lines Incorporated Airlines 1,012 0.09 30,947 Discovery Incorporated Class A Media 6,284 0.40 136,803 Discovery Incorporated Class C Media 3,846 0.22 75,382 DISH Network Corporation Media 1,854 0.16 53,822 Dollar General Corporation Retail 572 0.35 119,903 Domino’s Pizza Incorporated Retail 348 0.43 147,997 DR Horton Incorporated Home Builders 812 0.18 61,412 Duke Realty Corporation REIT 1,673 0.18 61,734 East West Bancorp Incorporated Banks 1,701 0.16 55,691 Eastman Chemical Company Chemicals 607 0.1447,419 Eaton Corporation plc Miscellaneous Manufacturers 371 0.11 37,853 eBay Incorporated Internet 1,542 0.23 80,338 Edwards Lifesciences Corporation Healthcare – Products 478 0.11 38,154 Electronic Arts Incorporated Software 1,577 0.59 205,657 Eli Lilly & Company Pharmaceuticals 738 0.32 109,239 Entergy Corporation Electric 315 0.09 31,037 EOG Resources Incorporated Oil & Gas Services 880 0.09 31,627 EPAM Systems Incorporated Computers 449 0.42 145,153 Equinix Incorporated REIT 67 0.1550,929 Equitable Holdings Incorporated Insurance 4,844 0.26 88,355 Equity LifeStyle Properties Incorporated REIT 486 0.09 29,792 Erie Indemnity Company Insurance 233 0.14 48,995 Estee Lauder Companies Incorporated Cosmetics/Personal Care 169 0.11 36,884 Everest Re Group Limited Insurance 256 50,570 0.15 Expeditors International of Washington Incorporated Transportation 1,126 101,926 0.29 F5 Networks Incorporated Internet 627 76,977 0.22 Facebook Incorporated Internet 877 229,686 0.66 FactSet Research Systems Incorporated Media 340 113,859 0.33 Fair Isaac Corporation Software 220 93,584 0.27 Fifth Third Bancorp Banks 2,834 60,421 0.17 Flex Limited Electronics 3,477 38,734 0.11 Fortinet Incorporated Computers 623 73,396 0.21 Fortune Brands Home & Security Incorporated Building Materials 604 52,258 0.15 Fox Corporation Media 4,274 119,544 0.35 Genuine Parts Company Retail 186 17,702 0.05 Gilead Sciences Incorporated Biotechnology 1,155 72,984 0.21

The accompanying notes are an integral part of these financial statements.

Wells Fargo (Lux) Worldwide Fund | 39

Portfolio of investments as at 30 September 2020 (unaudited)

GLOBAL FACTOR ENHANCED EQUITY FUND Market % of Value Net Industry Shares USD Assets

Transferable securities and money market instruments admitted to an official stock exchange listing or dealt in on another regulated market

Common Shares (continued) United States (continued) Globe Life Incorporated Insurance 415 0.10 33,159 Halliburton Company Oil & Gas Services 3,261 39,2950.11 Hartford Financial Services Group Incorporated Insurance 1,571 57,907 0.17 HEICO Corporation Aerospace/Defense 340 0.10 35,584 HEICO Corporation Class A Aerospace/Defense 421 37,3260.11 Henry Schein Incorporated Healthcare – Products 602 0.1035,386 Hershey Company Food 304 43,5750.13 Home Depot Incorporated Retail 489 135,800 0.39 Honeywell International Incorporated Electronics 401 66,009 0.19 Hormel Foods Corporation Food 749 36,6190.11 HP Incorporated Computers 2,953 56,077 0.16 Humana Incorporated Healthcare – Services 210 86,9170.25 Huntington Bancshares Incorporated Banks 3,239 0.09 29,702 IAC/InterActiveCorporation Internet 114 0.04 13,655 IDEXX Laboratories Incorporated Healthcare – Products 188 73,905 0.21 Illinois Tool Works Incorporated Miscellaneous Manufacturers 187 0.10 36,130 Intel Corporation Semiconductors 2,734 141,5670.41 International Business Machines Corporation Computers 667 81,1540.23 Interpublic Group of Companies Incorporated Advertising 5,954 99,2530.29 Intuit Incorporated Software 407 132,767 0.38 Invesco Limited Diversified Financial Services 3,244 37,0140.11 Iron Mountain Incorporated REIT 1,207 0.09 32,336 JB Hunt Transport Services Incorporated Transportation 1,380 0.50 174,404 Johnson & Johnson Pharmaceuticals 651 96,9210.28 JPMorgan Chase & Company Banks 876 84,3330.24 Juniper Networks Incorporated Telecommunications 1,434 0.09 30,831 Kansas City Southern Transportation 233 42,1330.12 Kellogg Company Food 563 36,3640.11 KeyCorporation Banks 2,523 30,099 0.09 Keysight Technologies Incorporated Electronics 330 0.09 32,597 Kimberly-Clark Corporation Household Products/Wares 486 71,763 0.21 KLA Corporation Semiconductors 591 114,500 0.33 Knight-Swift Transportation Holdings Incorporated Transportation 1,711 0.20 69,638 Kroger Company Food 5,389 182,7410.53 Lam Research Corporation Semiconductors 380 126,065 0.36 LEAR Corporation Auto Parts & Equipment 955 0.30 104,143 Leidos Holdings Incorporated Computers 2,050 182,758 0.53 LKQ Corporation Distribution/Wholesale 1,691 46,8910.14 Lowe’s Companies Incorporated Retail 618 0.30 102,501 LyondellBasell Industries NV Chemicals 1,458 102,774 0.30 Marathon Petroleum Corporation Oil & Gas Services 845 24,792 0.07 MarketAxess Holdings Incorporated Commercial Services 71 0.10 34,193 Marsh & McLennan Companies Incorporated Insurance 538 61,709 0.18 Marvell Technology Group Limited Semiconductors 903 0.10 35,849 Masco Corporation Building Materials 857 47,2460.14 MasterCard Incorporated Diversified Financial Services 364 123,094 0.36 Match Group Incorporated Internet 370 40,9410.12 Maxim Integrated Products Incorporated Semiconductors 516 0.10 34,887 Medical Properties Trust Incorporated REIT 2,918 51,4440.15 Merck & Company Incorporated Pharmaceuticals 910 75,4850.22 MetLife Incorporated Insurance 2,154 80,064 0.23

The accompanying notes are an integral part of these financial statements.

40 | Wells Fargo (Lux) Worldwide Fund

Portfolio of investments as at 30 September 2020 (unaudited)

GLOBAL FACTOR ENHANCED EQUITY FUND Market % of Value Net Industry Shares USD Assets

Transferable securities and money market instruments admitted to an official stock exchange listing or dealt in on another regulated market

Common Shares (continued) United States (continued) Mettler-Toledo International Incorporated Electronics 100 96,575 0.28 MGM Resorts International Lodging 4,113 89,458 0.26 Micron Technology Incorporated Semiconductors 809 37,991 0.11 Microsoft Corporation Software 2,424 509,840 1.47 Molina Healthcare Incorporated Healthcare – Services 442 80,904 0.23 Monster Beverage Corporation Beverages 1,487 119,257 0.34 Moody’s Corporation Commercial Services 305 88,404 0.26 MSCI Incorporated Software 107 38,175 0.11 Nasdaq Incorporated Diversified Financial Services 266 32,641 0.09 Netflix Incorporated Internet 253 126,508 0.37 Neurocrine Biosciences Incorporated Pharmaceuticals 341 32,791 0.09 Newmont Corporation Mining 2,033 128,994 0.37 NIKE Incorporated Apparel 1,029 129,181 0.37 Norfolk Southern Corporation Transportation 157 33,596 0.10 NortonLifeLock Incorporated Internet 4,880 101,699 0.29 NRG Energy Incorporated Electric 4,724 145,216 0.42 Nucor Corporation Iron/Steel 812 36,426 0.11 NVIDIA Corporation Semiconductors 330 178,603 0.52 NVR Incorporated Home Builders 21 85,746 0.25 Old Dominion Freight Line Incorporated Transportation 1,153 208,601 0.60 Omega Healthcare Investors Incorporated REIT 1,055 31,587 0.09 Oracle Corporation Software 1,639 97,848 0.28 O’Reilly Automotive Incorporated Retail 55 25,359 0.07 PACCAR Incorporated Auto Manufacturers 670 57,138 0.17 Packaging Corporation of America Packaging & Containers 682 74,372 0.22 PepsiCo Incorporated Beverages 1,505 208,593 0.60 Pfizer Incorporated Pharmaceuticals 1,744 64,005 0.19 Philip Morris International Incorporated Agriculture 1,058 79,339 0.23 Phillips 66 Oil & Gas Services 591 30,637 0.09 PNC Financial Services Group Incorporated Banks 278 30,555 0.09 Progressive Corporation Insurance 1,340 126,858 0.37 Prologis Incorporated REIT 454 45,681 0.13 PulteGroup Incorporated Home Builders 893 41,337 0.12 Qualcomm Incorporated Semiconductors 438 51,544 0.15 Raytheon Technologies Corporation Aerospace/Defense 604 34,754 0.10 Regeneron Pharmaceuticals Incorporated Biotechnology 211 118,114 0.34 Regions Financial Corporation Banks 2,808 32,376 0.09 ResMed Incorporated Healthcare – Products 538 92,229 0.27 Robert Half International Incorporated Commercial Services 3,125 165,438 0.48 Rockwell Automation Incorporated Machinery – Diversified 177 39,060 0.11 RPM International Incorporated Chemicals 749 62,047 0.18 S&P Global Incorporated Commercial Services 360 129,816 0.38 SEI Investments Company Diversified Financial Services 2,055 104,230 0.30 Sempra Energy Electric 248 29,353 0.08 ServiceNow Incorporated Software 95 46,075 0.13 Sherwin-Williams Company Chemicals 85 59,223 0.17 Signature Bank Banks 546 45,313 0.13 Simon Property Group Incorporated REIT 559 36,156 0.10 Skyworks Solutions Incorporated Semiconductors 663 96,467 0.28 Snap-on Incorporated Hand/Machine Tools 128 18,833 0.05 Southern Company Electric 1,011 54,816 0.16 Square Incorporated Commercial Services 231 37,549 0.11

The accompanying notes are an integral part of these financial statements.

Wells Fargo (Lux) Worldwide Fund | 41

Portfolio of investments as at 30 September 2020 (unaudited)

GLOBAL FACTOR ENHANCED EQUITY FUND Market % of Value Net Industry Shares USD Assets

Transferable securities and money market instruments admitted to an official stock exchange listing or dealt in on another regulated market

Common Shares (continued) United States (continued) SS&C Technologies Holdings Incorporated Software 570 0.1034,496 State Street Corporation Banks 546 0.09 32,394 Steel Dynamics Incorporated Iron/Steel 4,781 0.40 136,880 STERIS plc Healthcare – Products 178 0.09 31,362 SVB Financial Group Banks 162 0.11 38,980 Synchrony Financial Diversified Financial Services 1,944 0.15 50,874 Synopsys Incorporated Software 457 0.28 97,789 Sysco Corporation Food 521 0.09 32,417 T Rowe Price Group Incorporated Diversified Financial Services 1,160 0.43 148,735 Take-Two Interactive Software Incorporated Software 211 0.10 34,861 Target Corporation Retail 583 0.27 91,776 Teledyne Technologies Incorporated Aerospace/Defense 301 0.27 93,373 Teradyne Incorporated Semiconductors 1,545 0.35 122,766 Texas Instruments Incorporated Semiconductors 690 0.2898,525 Thermo Fisher Scientific Incorporated Healthcare – Products 81 0.10 35,763 TJX Companies Incorporated Retail 880 0.14 48,972 T-Mobile US Incorporated Telecommunications 324 0.11 37,053 Tractor Supply Company Retail 265 0.11 37,985 Tyler Technologies Incorporated Software 249 0.25 86,791 Tyson Foods Incorporated Food 586 0.10 34,855 Union Pacific Corporation Transportation 285 0.16 56,108 United Airlines Holdings Incorporated Airlines 245 0.02 8,514 United Parcel Service Incorporated Transportation 351 0.17 58,487 UnitedHealth Group Incorporated Healthcare – Services 393 0.35 122,526 US Bancorp Banks 385 0.04 13,802 Valero Energy Corporation Oil & Gas Services 460 0.06 19,927 Verizon Communications Incorporated Telecommunications 2,852 0.49 169,665 Vertex Pharmaceuticals Incorporated Biotechnology 428 0.34 116,467 ViacomCBS Incorporated Media 3,318 0.27 92,937 Visa Incorporated Diversified Financial Services 157 0.09 31,395 VMware Incorporated Software 1,123 0.47 161,341 Vornado Realty Trust REIT 4,630 156,077 0.45 Walmart Incorporated Retail 936 130,956 0.38 Wayfair Incorporated Internet 247 71,879 0.21 West Pharmaceutical Services Incorporated Healthcare – Products 455 125,080 0.36 Western Union Company Diversified Financial Services 3,891 0.24 83,384 Westrock Company Packaging & Containers 1,307 45,405 0.13 Whirlpool Corporation Home Furnishings 362 66,568 0.19 Zebra Technologies Corporation Office/Business Equipment 125 31,558 0.09 Zions Bancorp NA Banks 940 27,467 0.08 Zoetis Incorporated Pharmaceuticals 559 92,442 0.27 21,045,025 60.84 Total Common Shares 32,780,548 94.76

Dividend Yield %

Preferred Shares Germany Bayerische Motoren Werke AG 5.30 Auto Manufacturers 1,397 76,362 0.22 Fuchs Petrolub SE 2.22 Chemicals 2,432 123,678 0.36

The accompanying notes are an integral part of these financial statements.

42 | Wells Fargo (Lux) Worldwide Fund

Portfolio of investments as at 30 September 2020 (unaudited)

GLOBAL FACTOR ENHANCED EQUITY FUND Dividend Market % of Yield Value Net % Industry Shares USD Assets

Transferable securities and money market instruments admitted to an official stock exchange listing or dealt in on another regulated market

Preferred Shares (continued) Germany (continued) Henkel AG & Company KGaA 2.06 Household Products/Wares 562 58,7880.17 Sartorius AG 0.10 Electronics 114 46,7340.13 Total Preferred Shares 305,562 0.88 Total Transferable Securities and Money Market Instruments 33,086,110 95.64

Other Transferable Securities Common Shares Canada AltaGas Limited Oil & Gas Services 6,700 80,656 0.24 Canadian Apartment Properties REIT REIT 3,100 107,801 0.31 Canadian Utilities Limited Electric 1,200 28,532 0.08 iA Financial Corporation Incorporated Insurance 1,600 55,519 0.16 IGM Financial Incorporated Diversified Financial Services 800 18,285 0.05 National Bank of Canada Banks 500 24,758 0.07 Onex Corporation Private Equity 2,100 93,386 0.27 Parkland Corporation Oil & Gas Services 5,500 144,978 0.42 Quebecor Incorporated Media 2,700 67,331 0.20 Total Common Shares 621,246 1.80 Total Other Transferable Securities 621,246 1.80 Total Investments in Securities 33,707,356 97.44

Interest Rate % Nominal @ Cash at Banks Time Deposits Cayman Islands BBH Grand Cayman (o) (1.51) 326 CHF 354 0.00 BBH Grand Cayman (o) (0.69) 803 EUR 942 0.00 BBH Grand Cayman (o) (0.08) 1 NOK 0 0.00 BBH Grand Cayman (o) 0.01 1,229 AUD 881 0.00 BBH Grand Cayman (o) 0.01 1,126 GBP 1,456 0.01 BBH Grand Cayman (o) 0.01 60,019 HKD 7,745 0.02 BBH Grand Cayman (o) 0.01 1 NZD 1 0.00 BBH Grand Cayman (o) 0.03 2 CAD 1 0.00 11,380 0.03

Japan MUFG Bank (o) (0.25) 9,599,886 JPY 90,968 0.27

United Kingdom Sumitomo Mitsui Banking Corporation (o) 0.01 567,510 USD 567,510 1.64 Total Time Deposits 669,858 1.94 Current Accounts at Bank 165,746 0.48 Total Cash at Banks 835,604 2.42 Other Assets and Liabilities, Net 49,099 0.14 Total Net Assets 34,592,059 100.00

The accompanying notes are an integral part of these financial statements.

Wells Fargo (Lux) Worldwide Fund | 43

Portfolio of investments as at 30 September 2020 (unaudited)

@ Nominal amount is denominated in currency indicated. (o) Overnight deposit.

Key: AUD Australian Dollar CAD Canadian Dollar CHF Swiss Franc EUR Euro GBP British Pound HKD Hong Kong Dollar JPY JapaneseYen NOK Norwegian Krone NZD New Zealand Dollar REIT Real Estate Investment Trust USD United States Dollar

The securities have been classified based upon country of incorporation/domiciliation.

The accompanying notes are an integral part of these financial statements.

44 | Wells Fargo (Lux) Worldwide Fund

Portfolio of investments as at 30 September 2020 (unaudited)

GLOBAL INVESTMENT GRADE CREDIT FUND Interest Market % of Rate Maturity Value Net % Date Industry Nominal @ USD Assets

Transferable securities and money market instruments admitted to an official stock exchange listing or dealt in on another regulated market

Corporate Bonds and Notes Australia APT Pipelines Limited 2.00 15/7/2030 Oil & Gas Services 120,000 EUR 152,269 0.33 Macquarie Group Limited ± 3.19 28/11/2023 Banks 145,000 USD 151,617 0.33 National Australia Bank Limited 2.33 21/8/2030 Banks 250,000 USD 247,118 0.53 Scentre Group Trust 2 ± 5.13 24/9/2080 REIT 145,000 USD 142,354 0.31 Transurban Finance Company Proprietary Limited 1.75 29/3/2028 Commercial Services 150,000 EUR 183,503 0.40 Westpac Banking Corporation 3.65 15/5/2023 Banks 255,000 USD 275,874 0.60 1,152,735 2.50

Austria BAWAG Group AG ± 2.38 26/3/2029 Banks 200,000 EUR 239,502 0.52 Raiffeisen Bank International AG ± 2.88 18/6/2032 Banks 100,000 EUR 120,062 0.26 359,564 0.78

Belgium Argenta Spaarbank NV ± 3.88 24/5/2026 Banks 100,000 EUR 119,016 0.26 Lonza Finance International NV 1.63 21/4/2027 Healthcare – Services 100,000 EUR 125,727 0.27 Solvay SA ^± 4.25 4/12/2023 Chemicals 100,000 EUR 123,107 0.27 367,850 0.80

Canada Rogers Communications Incorporated 5.34 22/3/2021 Telecommunications 100,000 CAD 76,785 0.17 Royal Bank of Canada 1.97 2/3/2022 Banks 100,000 CAD 76,631 0.17 Toronto-Dominion Bank 3.23 24/7/2024 Banks 600,000 CAD 491,013 1.06 644,429 1.40

China Tencent Holdings Limited 3.60 19/1/2028 Internet 380,000 USD 418,152 0.91

Denmark Jyske Bank AS ± 2.25 5/4/2029 Banks 100,000 EUR 120,367 0.26 Nykredit Realkredit AS 0.88 17/1/2024 Banks 100,000 EUR 119,475 0.26 Orsted AS ± 1.75 9/12/3019 Electric 100,000 EUR 117,157 0.25 356,999 0.77

Finland Fortum OYJ 0.88 27/2/2023 Electric 100,000 EUR 119,348 0.26 Mandatum Life Insurance Company Limited ± 1.88 4/10/2049 Insurance 100,000 EUR 116,940 0.25 Sampo OYJ 1.63 21/2/2028 Insurance 100,000 EUR 128,500 0.28 Sampo OYJ ± 3.38 23/5/2049 Insurance 100,000 EUR 129,299 0.28 494,087 1.07

France ALD SA 1.25 11/10/2022 Commercial Services 100,000 EUR 119,426 0.26 Arkema SA ^± 1.50 21/10/2025 Chemicals 200,000 EUR 223,374 0.48 Arkema SA ^± 2.75 17/6/2024 Chemicals 100,000 EUR 119,619 0.26 Banque Federative du Credit Mutuel SA 3.00 21/5/2024 Banks 100,000 EUR 127,571 0.28 BNP Paribas SA 1.25 19/3/2025 Banks 100,000 EUR 122,011 0.26 Credit Agricole Assurances SA 2.00 17/7/2030 Insurance 100,000 EUR 119,462 0.26 Edenred 1.38 18/6/2029 Commercial Services 300,000 EUR 363,888 0.79

The accompanying notes are an integral part of these financial statements.

Wells Fargo (Lux) Worldwide Fund | 45

Portfolio of investments as at 30 September 2020 (unaudited)

GLOBAL INVESTMENT GRADE CREDIT FUND Interest Market % of Rate Maturity Value Net % Date Industry Nominal @ USD Assets

Transferable securities and money market instruments admitted to an official stock exchange listing or dealt in on another regulated market

Corporate Bonds and Notes (continued) France (continued) Electricite de France SA ^± 2.88 15/12/2026 Electric 200,000 EUR 228,757 0.49 Electricite de France SA 5.50 17/10/2041 Electric 100,000 GBP 189,565 0.41 PSA Banque France SA 0.63 21/6/2024 Diversified Financial Services 100,000 EUR 118,104 0.26 TOTAL SE ^± 2.71 5/5/2023 Oil & Gas Services 100,000 EUR 121,197 0.26 1,852,974 4.01

Germany Aareal Bank AG ± 4.25 18/3/2026 Diversified Financial Services 200,000 EUR 230,914 0.50 Bayer AG 0.38 6/7/2024 Pharmaceuticals 100,000 EUR 118,218 0.26 Bayer AG ± 2.38 12/11/2079 Pharmaceuticals 100,000 EUR 115,255 0.25 Covestro AG 1.38 12/6/2030 Chemicals 100,000 EUR 119,076 0.26 Deutsche Bank AG 0.38 18/1/2021 Banks 100,000 EUR 117,304 0.25 E.ON SE 0.88 20/8/2031 Electric 100,000 EUR 121,903 0.26 Fresenius Medical Care AG & Company KGaA 1.50 29/5/2030 Healthcare – Services 100,000 EUR 123,064 0.27 Hannover Rueck SE ± 1.13 9/10/2039 Insurance 100,000 EUR 114,058 0.25 Merck KGaA ± 1.63 25/6/2079 Pharmaceuticals 100,000 EUR 118,009 0.26 MTU Aero Engines AG 3.00 1/7/2025 Aerospace/Defense 100,000 EUR 122,594 0.27 Muenchener Rueckversicherungs- Gesellschaft AG in Muenchen ± 6.63 26/5/2042 Insurance 100,000 GBP 140,344 0.30 Volkswagen Bank GmbH 0.63 8/9/2021 Auto Manufacturers 100,000 EUR 117,936 0.25 1,558,675 3.38

Ireland AerCap Ireland Capital DAC 4.50 15/9/2023 Diversified Financial Services 170,000 USD 175,140 0.38 ESB Finance DAC 1.13 11/6/2030 Electric 100,000 EUR 126,008 0.27 GE Capital International Funding Company Unlimited Company 4.42 15/11/2035 Diversified Financial Services 250,000 USD 264,211 0.57 565,359 1.22

Italy Banco BPM SpA 1.75 28/1/2025 Banks 100,000 EUR 116,189 0.25 Banco BPM SpA 2.50 21/6/2024 Banks 100,000 EUR 119,718 0.26 UniCredit SpA ± 2.73 15/1/2032 Banks 200,000 EUR 221,007 0.48 456,914 0.99

Japan Mizuho Financial Group Incorporated 0.80 15/4/2030 Banks 300,000 EUR 356,825 0.77 Nissan Motor Company Limited 3.52 17/9/2025 Auto Manufacturers 130,000 USD 131,364 0.29 Nissan Motor Company Limited 4.35 17/9/2027 Auto Manufacturers 130,000 USD 130,513 0.28 Sumitomo Mitsui Financial Group Incorporated 3.10 17/1/2023 Banks 245,000 USD 258,649 0.56 877,351 1.90

Luxembourg Bevco Lux Sarl 1.75 9/2/2023 Diversified Financial Services 100,000 EUR 119,847 0.26 SELP Finance Sarl 1.50 20/11/2025 REIT 100,000 EUR 121,096 0.26 Swiss Re Finance Luxembourg SA ± 2.53 30/4/2050 Insurance 200,000 EUR 250,327 0.54 491,270 1.06

The accompanying notes are an integral part of these financial statements.

46 | Wells Fargo (Lux) Worldwide Fund Portfolio of investments as at 30 September 2020 (unaudited)

GLOBAL INVESTMENT GRADE CREDIT FUND Interest Market % of Rate Maturity Value Net % Date Industry Nominal @ USD Assets

Transferable securities and money market instruments admitted to an official stock exchange listing or dealt in on another regulated market

Corporate Bonds and Notes (continued) Netherlands ASML Holding NV 0.63 7/5/2029 Semiconductors 100,000 EUR 120,780 0.26 Cooperatieve Rabobank UA 0.63 27/2/2024 Banks 100,000 EUR 119,411 0.26 Deutsche Telekom International Finance BV 2.25 13/4/2029 Telecommunications 100,000 GBP 137,826 0.30 Heimstaden Bostad Treasury BV 1.38 3/3/2027 Real Estate 100,000 EUR 117,590 0.25 NIBC Bank NV 2.00 9/4/2024 Banks 100,000 EUR 118,498 0.26 NXP BV 3.88 18/6/2026 Semiconductors 280,000 USD 313,690 0.68 Phoenix PIB Dutch Finance BV 2.38 5/8/2025 Pharmaceuticals 100,000 EUR 118,103 0.26 Shell International Finance BV 1.00 10/12/2030 Oil & Gas Services 300,000 GBP 382,382 0.83 Siemens Financieringsmaatschappij NV 2.35 15/10/2026 Miscellaneous Manufacturers 250,000 USD 268,159 0.58 Swisscom Finance BV 0.38 14/11/2028 Telecommunications 100,000 EUR 119,622 0.26 Syngenta Finance NV 3.38 16/4/2026 Chemicals 100,000 EUR 125,830 0.27 1,941,891 4.21

Spain Banco de Sabadell SA 1.13 27/3/2025 Banks 100,000 EUR 112,273 0.24 Bankia SA 1.13 12/11/2026 Banks 100,000 EUR 117,285 0.26 Bankinter SA 0.63 6/10/2027 Banks 100,000 EUR 114,523 0.25 CaixaBank SA 0.63 1/10/2024 Banks 100,000 EUR 116,307 0.25 Inmobiliaria Colonial Socimi SA 1.45 28/10/2024 REIT 200,000 EUR 241,227 0.52 Telefonica Emisiones SA 4.10 8/3/2027 Telecommunications 250,000 USD 284,228 0.62 Unicaja Banco SA ± 2.88 13/11/2029 Banks 100,000 EUR 111,383 0.24 1,097,226 2.38

Sweden Akelius Residential Property AB ± 2.25 17/5/2081 Real Estate 100,000 EUR 110,836 0.24 Akelius Residential Property AB ± 3.88 5/10/2078 Real Estate 100,000 EUR 120,469 0.26 Heimstaden Bostad AB 1.13 21/1/2026 Real Estate 100,000 EUR 116,965 0.25 Tele2 AB 2.13 15/5/2028 Telecommunications 100,000 EUR 129,052 0.28 477,322 1.03

Switzerland Credit Suisse AG 3.63 9/9/2024 Banks 320,000 USD 354,186 0.77 Credit Suisse Group AG ± 2.25 9/6/2028 Banks 200,000 GBP 264,816 0.57 UBS Group AG ± 0.25 29/1/2026 Banks 200,000 EUR 234,417 0.51 853,419 1.85

United Kingdom AstraZeneca plc 1.38 6/8/2030 Pharmaceuticals 175,000 USD 170,225 0.37 Aviva plc ± 6.13 5/7/2043 Insurance 100,000 EUR 132,927 0.29 AXIS Specialty Finance plc 4.00 6/12/2027 Insurance 145,000 USD 158,639 0.34 Barclays plc ± 2.38 6/10/2023 Banks 100,000 GBP 131,728 0.29 BP Capital Markets plc ^± 3.25 22/3/2026 Oil & Gas Services 100,000 EUR 120,395 0.26 BP Capital Markets plc ^± 4.25 22/3/2027 Oil & Gas Services 100,000 GBP 135,164 0.29 Brambles Finance plc 1.50 4/10/2027 Packaging & Containers 100,000 EUR 122,405 0.27 Burberry Group plc 1.13 21/9/2025 Apparel 100,000 GBP 127,975 0.28 DS Smith plc 2.25 16/9/2022 Packaging & Containers 100,000 EUR 120,946 0.26 FCE Bank plc 1.88 24/6/2021 Auto Manufacturers 100,000 EUR 116,056 0.25 GlaxoSmithKline Capital plc 1.63 12/5/2035 Pharmaceuticals 100,000 GBP 131,600 0.28 HSBC Holdings plc 4.30 8/3/2026 Banks 240,000 USD 270,748 0.59 Legal & General Group plc ± 10.00 23/7/2041 Insurance 100,000 GBP 138,229 0.30 Lloyds Banking Group plc 2.25 16/10/2024 Banks 100,000 GBP 133,420 0.29

The accompanying notes are an integral part of these financial statements.

Wells Fargo (Lux) Worldwide Fund | 47

Portfolio of investments as at 30 September 2020 (unaudited)

GLOBAL INVESTMENT GRADE CREDIT FUND Interest Market % of Rate Maturity Value Net % Date Industry Nominal @ USD Assets

Transferable securities and money market instruments admitted to an official stock exchange listing or dealt in on another regulated market

Corporate Bonds and Notes (continued) United Kingdom (continued) Mondi Finance plc 1.63 27/4/2026 Forest Products & Paper 100,000 EUR 125,091 0.27 Motability Operations Group plc 2.38 3/7/2039 Commercial Services 100,000 GBP 145,483 0.32 Natwest Group plc ± 2.88 19/9/2026 Banks 100,000 GBP 136,147 0.29 Natwest Group plc 3.88 12/9/2023 Banks 270,000 USD 289,969 0.63 Reckitt Benckiser Treasury Services plc 2.75 26/6/2024 Household Products/Wares 310,000 USD 330,005 0.71 Royalty Pharma plc 2.20 2/9/2030 Biotechnology 265,000 USD 263,451 0.57 Tesco Corporate Treasury Services plc 0.88 29/5/2026 Food 100,000 EUR 119,254 0.26 Vodafone Group plc 4.38 30/5/2028 Telecommunications 305,000 USD 360,951 0.78 WPP Finance 2010 3.75 19/9/2024 Advertising 155,000 USD 170,121 0.37 3,950,929 8.56

United States AbbVie Incorporated 2.60 21/11/2024 Pharmaceuticals 285,000 USD 302,240 0.65 AbbVie Incorporated 4.25 21/11/2049 Pharmaceuticals 125,000 USD 147,644 0.32 American Airlines 2015-1 Class A Pass- Through Trust 3.38 1/5/2027 Airlines 75,238 USD 61,867 0.13 American Airlines 2016-3 Class AA Pass- Through Trust 3.00 15/10/2028 Airlines 139,725 USD 130,520 0.28 American Campus Communities Operating Partnership LP 3.88 30/1/2031 REIT 145,000 USD 158,226 0.34 American Express Credit Corporation 3.30 3/5/2027 Diversified Financial Services 255,000 USD 287,876 0.62 American International Group Incorporated 4.75 1/4/2048 Insurance 420,000 USD 513,810 1.11 Anheuser-Busch InBev Finance Incorporated 3.65 1/2/2026 Beverages 495,000 USD 552,712 1.20 Apple Incorporated 2.95 11/9/2049 Computers 165,000 USD 180,411 0.39 Apple Incorporated 3.60 31/7/2042 Computers 100,000 GBP 187,746 0.41 AT&T Incorporated 3.65 1/6/2051 Telecommunications 280,000 USD 282,601 0.61 AT&T Incorporated 4.25 1/3/2027 Telecommunications 315,000 USD 365,562 0.79 Aviation Capital Group LLC 2.88 20/1/2022 Trucking & Leasing 240,000 USD 238,170 0.52 Aviation Capital Group LLC 5.50 15/12/2024 Trucking & Leasing 225,000 USD 232,100 0.50 Bank of America Corporation 4.13 22/1/2024 Banks 225,000 USD 249,172 0.54 BAT Capital Corporation 4.54 15/8/2047 Agriculture 240,000 USD 256,496 0.56 Belrose Funding Trust 2.33 15/8/2030 Insurance 145,000 USD 143,194 0.31 Booking Holdings Incorporated 1.80 3/3/2027 Internet 100,000 EUR 123,508 0.27 BP Capital Markets America Incorporated 2.75 10/5/2023 Oil & Gas Services 205,000 USD 216,104 0.47 Brighthouse Financial Incorporated 4.70 22/6/2047 Insurance 210,000 USD 200,816 0.44 British Airways 2019-1 Class AA Pass- Through Trust 3.30 15/12/2032 Airlines 467,408 USD 438,068 0.95 Broadcom Incorporated 3.15 15/11/2025 Semiconductors 90,000 USD 97,071 0.21 Broadcom Incorporated 4.15 15/11/2030 Semiconductors 160,000 USD 179,630 0.39 Cantor Fitzgerald LP 4.88 1/5/2024 Diversified Financial Services 475,000 USD 519,739 1.13 Capital One Financial Corporation 0.80 12/6/2024 Diversified Financial Services 100,000 EUR 117,315 0.25 Celanese US Holdings LLC 1.13 26/9/2023 Chemicals 100,000 EUR 118,185 0.26 Charter Communications Operating LLC 4.91 23/7/2025 Media 280,000 USD 323,644 0.70 Citigroup Incorporated ± 1.50 24/7/2026 Banks 100,000 EUR 123,037 0.27 Citigroup Incorporated 3.30 27/4/2025 Banks 590,000 USD 649,553 1.41 Coca-Cola Company 0.13 15/3/2029 Beverages 200,000 EUR 232,737 0.50 Cox Communications Incorporated 4.60 15/8/2047 Media 210,000 USD 262,038 0.57 CVS Health Corporation 3.70 9/3/2023 Pharmaceuticals 212,000 USD 227,085 0.49 CVS Health Corporation 4.30 25/3/2028 Pharmaceuticals 100,000 USD 116,982 0.25 Dell International LLC 5.45 15/6/2023 Computers 535,000 USD 586,542 1.27

The accompanying notes are an integral part of these financial statements.

48 | Wells Fargo (Lux) Worldwide Fund

Portfolio of investments as at 30 September 2020 (unaudited)

GLOBAL INVESTMENT GRADE CREDIT FUND Interest Market % of Rate Maturity Value Net % Date Industry Nominal @ USD Assets

Transferable securities and money market instruments admitted to an official stock exchange listing or dealt in on another regulated market

Corporate Bonds and Notes (continued) United States (continued) Delta Air Lines 2019-1 Class AA Pass- Through Trust 3.20 25/4/2024 Airlines 250,000 USD 249,106 0.54 Delta Air Lines Incorporated 4.75 20/10/2028 Airlines 30,000 USD 31,125 0.07 Digital Euro Finco LLC 2.63 15/4/2024 REIT 100,000 EUR 126,823 0.27 Discovery Communications LLC 5.30 15/5/2049 Media 105,000 USD 128,634 0.28 Duke Energy Carolinas LLC 2.45 15/8/2029 Electric 300,000 USD 324,589 0.70 Empower Finance 2020 LP 1.78 17/3/2031 Insurance 250,000 USD 249,846 0.54 Energy Transfer Operating LP 3.75 15/5/2030 Pipelines 130,000 USD 125,824 0.27 Energy Transfer Operating LP 6.25 15/4/2049 Pipelines 365,000 USD 375,600 0.81 Equifax Incorporated 2.60 1/12/2024 Commercial Services 280,000 USD 298,834 0.65 Equinix Incorporated 2.15 15/7/2030 REIT 250,000 USD 253,083 0.55 Exxon Mobil Corporation 2.61 15/10/2030 Oil & Gas Services 265,000 USD 285,835 0.62 FirstEnergy Corporation 2.25 1/9/2030 Electric 130,000 USD 127,052 0.28 Fiserv Incorporated 3.50 1/7/2029 Software 265,000 USD 301,605 0.65 Ford Motor Company 9.00 22/4/2025 Auto Manufacturers 135,000 USD 154,779 0.34 Fox Corporation 4.71 25/1/2029 Media 345,000 USD 413,175 0.90 General Electric Company 3.63 1/5/2030 Miscellaneous Manufacturers 265,000 USD 274,817 0.60 General Motors Company 6.13 1/10/2025 Auto Manufacturers 195,000 USD 226,477 0.49 Goldman Sachs Group Incorporated 3.63 22/1/2023 Banks 490,000 USD 523,757 1.13 Harley-Davidson Financial Services Incorporated 3.35 8/6/2025 Auto Manufacturers 30,000 USD 31,377 0.07 Hyundai Capital America 1.80 15/10/2025 Auto Manufacturers 250,000 USD 248,621 0.54 Intercontinental Exchange Incorporated 2.10 15/6/2030 Diversified Financial Services 300,000 USD 310,048 0.67 Intercontinental Exchange Incorporated 3.75 1/12/2025 Diversified Financial Services 475,000 USD 536,369 1.16 Jabil Incorporated 3.60 15/1/2030 Electronics 215,000 USD 228,654 0.50 JPMorgan Chase & Company ± 3.21 1/4/2023 Banks 210,000 USD 218,196 0.47 JPMorgan Chase & Company ± 3.78 1/2/2028 Banks 150,000 USD 169,576 0.37 Keurig Dr Pepper Incorporated 4.60 25/5/2028 Beverages 315,000 USD 378,075 0.82 Kinder Morgan Energy Partners LP 5.40 1/9/2044 Pipelines 230,000 USD 266,483 0.58 Linde Incorporated 1.10 10/8/2030 Chemicals 160,000 USD 154,915 0.34 Marathon Petroleum Corporation 3.80 1/4/2028 Oil & Gas Services 315,000 USD 341,998 0.74 Mars Incorporated 3.95 1/4/2049 Food 435,000 USD 525,396 1.14 McDonald’s Corporation 1.45 1/9/2025 Retail 350,000 USD 360,351 0.78 Microchip Technology Incorporated 2.67 1/9/2023 Semiconductors 130,000 USD 134,574 0.29 Morgan Stanley 3.13 27/7/2026 Banks 535,000 USD 590,601 1.28 Morgan Stanley 3.70 23/10/2024 Banks 550,000 USD 609,593 1.32 Motorola Solutions Incorporated 4.60 23/2/2028 Telecommunications 335,000 USD 390,938 0.85 MPLX LP 4.00 15/3/2028 Pipelines 285,000 USD 310,978 0.67 Nevada Power Company 2.40 1/5/2030 Electric 105,000 USD 112,713 0.24 New York State Electric & Gas Corporation 3.25 1/12/2026 Electric 150,000 USD 168,625 0.37 Nutrition & Biosciences Incorporated 2.30 1/11/2030 Chemicals 250,000 USD 251,610 0.55 Nuveen LLC 4.00 1/11/2028 Diversified Financial Services 250,000 USD 296,848 0.64 Oglethorpe Power Corporation 3.75 1/8/2050 Electric 100,000 USD 99,376 0.22 PacifiCorporation 3.50 15/6/2029 Electric 280,000 USD 325,151 0.70 Penske Truck Leasing Company LP 3.45 1/7/2024 Trucking & Leasing 270,000 USD 292,218 0.63 Qualcomm Incorporated 3.25 20/5/2027 Semiconductors 285,000 USD 319,381 0.69 Ralph Lauren Corporation 2.95 15/6/2030 Apparel 90,000 USD 93,903 0.20 Raymond James Financial Incorporated 4.95 15/7/2046 Diversified Financial Services 135,000 USD 174,239 0.38 Raytheon Technologies Corporation 4.13 16/11/2028 Aerospace/Defense 245,000 USD 289,937 0.63 S&P Global Incorporated 1.25 15/8/2030 Commercial Services 80,000 USD 78,648 0.17 S&P Global Incorporated 2.30 15/8/2060 Commercial Services 75,000 USD 67,164 0.15

The accompanying notes are an integral part of these financial statements.

Wells Fargo (Lux) Worldwide Fund | 49

Portfolio of investments as at 30 September 2020 (unaudited)

GLOBAL INVESTMENT GRADE CREDIT FUND Interest Market % of Rate Maturity Value Net % Date Industry Nominal @ USD Assets

Transferable securities and money market instruments admitted to an official stock exchange listing or dealt in on another regulated market

Corporate Bonds and Notes (continued) United States (continued) Sabine Pass Liquefaction LLC 5.75 15/5/2024Pipelines 355,000 USD 401,872 0.87 Sabra Health Care LP 4.80 1/6/2024REIT 90,000 USD 94,5540.20 Santander Holdings USA Incorporated 4.40 13/7/2027Banks 210,000 USD 231,1990.50 Simon Property Group LP 3.25 13/9/2049REIT 285,000 USD 260,7740.56 Smithfield Foods Incorporated 3.00 15/10/2030Food 110,000 USD 111,109 0.24 State Street Corporation 2.40 24/1/2030Banks 130,000 USD 141,623 0.31 Thermo Fisher Scientific Incorporated 1.50 1/10/2039Healthcare – Products 100,000 EUR 116,971 0.25 T-Mobile USA Incorporated 3.30 15/2/2051Telecommunications 120,000 USD 118,278 0.26 T-Mobile USA Incorporated 3.75 15/4/2027Telecommunications 195,000 USD 218,310 0.47 Union Electric Company 3.50 15/3/2029Electric 150,000 USD 172,881 0.37 Union Pacific Corporation 2.40 5/2/2030Transportation 205,000 USD 220,510 0.48 UnitedHealth Group Incorporated 2.90 15/5/2050Healthcare – Services 115,000 USD 119,848 0.26 Unum Group 4.50 15/12/2049Insurance 85,000 USD 82,201 0.18 US Airways 2012-2 Class A Pass-Through Trust Airlines 4.63 203,7323/6/2025 USD 168,818 0.37 Verizon Communications Incorporated 2.88 15/1/2038Telecommunications 100,000 EUR 144,926 0.31 Verizon Communications Incorporated 4.13 15/8/2046Telecommunications 310,000 USD 381,647 0.83 ViacomCBS Incorporated 3.70 1/6/2028Media 170,000 USD 188,761 0.41 Walmart Incorporated 3.70 26/6/2028Retail 130,000 USD 153,636 0.33 Walt Disney Company 3.60 13/1/2051Media 75,000 USD 84,454 0.18 Western Union Company 2.85 10/1/2025Diversified Financial Services 265,000 USD 279,302 0.61 Western Union Company 4.25 9/6/2023Diversified Financial Services 245,000 USD 264,4930.57 Westlake Chemical Corporation 1.63 17/7/2029Chemicals 200,000 EUR 230,4150.50 25,856,500 56.02 Total Corporate Bonds and Notes 43,773,646 94.84

Government Bonds United States United States Treasury Bond 2.00 15/2/2050 515,000 USD 582,513 1.26 Total Government Bonds 582,513 1.26

Municipal Obligations United States New Jersey Transportation Trust Fund Authority 4.13 15/6/2042 130,000 USD 123,898 0.27 Total Municipal Obligations 123,898 0.27 Total Transferable Securities and Money Market Instruments 44,480,057 96.37

Other Transferable Securities Corporate Bonds and Notes Canada Royal Bank of Canada 2.00 21/3/2022 Banks 300,000 CAD 230,193 0.50 Total Corporate Bonds and Notes 230,193 0.50 Total Other Transferable Securities 230,193 0.50 Total Investments in Securities 44,710,250 96.87

The accompanying notes are an integral part of these financial statements.

50 | Wells Fargo (Lux) Worldwide Fund

Portfolio of investments as at 30 September 2020 (unaudited)

GLOBAL INVESTMENT GRADE CREDIT FUND Interest Market % of Rate Value Net % Nominal @ USD Assets

Cash at Banks Time Deposits France BNP Paribas (o) (0.69) 153,019 EUR 179,408 0.39

United Kingdom Barclays (o) 0.01 34,335 GBP 44,304 0.10 ANZ (o) 0.01 262,636 USD 262,636 0.57 306,940 0.67

United States Citibank (o) 0.01 566,887 USD 566,887 1.22 Total Time Deposits 1,053,235 2.28 Total Cash at Banks 1,053,235 2.28

Other Assets and Liabilities, Net 392,666 0.85

Total Net Assets 46,156,151 100.00

± Variable rate investment. The rate shown is the rate in effect at period end. ^ Investment is perpetual and, thus, does not have a predetermined maturity date. The date shown reflects the next call date. @ Nominal amount is denominated in currency indicated. (o) Overnight deposit

Key: CAD Canadian Dollar EUR Euro GBP British Pound REIT Real Estate Investment Trust USD United States Dollar

The securities have been classified based upon country of incorporation/domiciliation.

The accompanying notes are an integral part of these financial statements.

Wells Fargo (Lux) Worldwide Fund | 51

Portfolio of investments as at 30 September 2020 (unaudited)

GLOBAL LONG/SHORT EQUITY FUND Market % of Value Net Industry Shares USD Assets

Transferable securities and money market instruments admitted to an official stock exchange listing or dealt in on another regulated market

Common Shares Australia Fortescue Metals Group Limited Iron/Steel 127,888 1,502,432 1.17 Kogan.com Limited Internet 63,074 920,832 0.72 Magellan Financial Group Limited Diversified Financial Services 3,009 124,103 0.10 Silver Lake Resources Limited Mining 266,506 447,356 0.35 2,994,723 2.34

Canada B2Gold Corporation Mining 227,200 1,479,347 1.15 Barrick Gold Corporation Mining 60,000 1,685,254 1.32 Kinross Gold Corporation Mining 182,000 1,606,023 1.25 Lululemon Athletica Incorporated + Retail 4,601 1,515,431 1.18 Pan American Silver Corporation Mining 38,900 1,250,655 0.98 7,536,710 5.88

Denmark Genmab AS Biotechnology 385 139,719 0.11

France ICADE REIT 8,910 499,231 0.39 Klepierre SA REIT 65,793 920,969 0.72 Peugeot SA Auto Manufacturers 75,409 1,367,502 1.07 Sartorius Stedim Biotech Healthcare – Products 2,315 799,052 0.62 3,586,754 2.80

Germany HelloFresh SE Food 14,521 806,988 0.63 Knorr-Bremse AG Miscellaneous Manufacturers 13,109 1,543,737 1.21 Nemetschek SE Software 20,648 1,509,189 1.18 Zalando SE Retail 18,984 1,773,673 1.38 5,633,587 4.40

Hong Kong NWS Holdings Limited Engineering & Construction 92,000 70,270 0.05 Techtronic Industries Company Limited Hand/Machine Tools 28,500 378,927 0.30 WH Group Limited Food 2,041,500 1,665,266 1.30 2,114,463 1.65

Israel Plus500 Limited Diversified Financial Services 18,330 370,527 0.29

Italy DiaSorin SpA Healthcare – Products 7,620 1,533,083 1.20

Jordan Hikma Pharmaceuticals plc Pharmaceuticals 54,843 1,838,189 1.44

Netherlands Adyen NV Commercial Services 940 1,733,815 1.35

New Zealand a2 Milk Company Limited Food 87,115 886,612 0.69 Fisher & Paykel Healthcare Corporation Limited Healthcare – Products 14,338 316,447 0.25 1,203,059 0.94

The accompanying notes are an integral part of these financial statements.

52 | Wells Fargo (Lux) Worldwide Fund

Portfolio of investments as at 30 September 2020 (unaudited)

GLOBAL LONG/SHORT EQUITY FUND Market % of Value Net Industry Shares USD Assets

Transferable securities and money market instruments admitted to an official stock exchange listing or dealt in on another regulated market

Common Shares (continued) Spain Pharma Mar SA Biotechnology 8,326 1,056,366 0.82

Sweden Essity AB Cosmetics/Personal Care 1,249 42,168 0.04 Evolution Gaming Group AB Entertainment 247 16,320 0.01 Swedish Match AB Agriculture 22,404 1,831,902 1.43 1,890,390 1.48

Switzerland Logitech International SA Computers 25,613 1,984,038 1.55 STMicroelectronics NV Semiconductors 7,614 233,521 0.18 2,217,559 1.73

United Kingdom Auto Trader Group plc Internet 124,898 906,810 0.71 boohoo Group plc Apparel 223,540 1,079,185 0.84 Go-Ahead Group plc Transportation 3,564 26,513 0.02 GVC Holdings plc Entertainment 78,668 985,257 0.77 ITV plc Media 1,148,616 1,001,312 0.78 J Sainsbury plc Food 88,694 218,376 0.17 4,217,453 3.29

United States 1-800-Flowers.com Incorporated + Internet 27,886 695,477 0.54 Advanced Micro Devices Incorporated + Semiconductors 18,308 1,501,073 1.17 Amazon.com Incorporated + Internet 1,310 4,124,836 3.22 Apple Incorporated + Computers 45,513 5,270,861 4.12 Arrow Electronics Incorporated + Electronics 22,217 1,747,589 1.36 Atkore International Group Incorporated + Electronics 6,168 140,199 0.11 Best Buy Company Incorporated + Retail 18,189 2,024,254 1.58 Biogen Incorporated + Biotechnology 7,662 2,173,556 1.70 Booz Allen Hamilton Holding Corporation + Commercial Services 20,179 1,674,453 1.31 CDW Corporation + Internet 17,444 2,085,081 1.63 Cigna Corporation + Pharmaceuticals 7,828 1,326,142 1.04 Citrix Systems Incorporated + Software 14,402 1,983,299 1.55 Clorox Company + Household Products/Wares 12,063 2,535,281 1.98 Domino’s Pizza Incorporated + Retail 4,622 1,965,644 1.53 DR Horton Incorporated + Home Builders 21,486 1,624,986 1.27 Dropbox Incorporated + Software 42,695 822,306 0.64 eBay Incorporated + Internet 29,200 1,521,320 1.19 Expeditors International of Washington Incorporated + Transportation 23,104 2,091,374 1.63 Facebook Incorporated + Internet 11,096 2,906,042 2.27 Fortinet Incorporated + Computers 12,866 1,515,743 1.18 HP Incorporated + Computers 31,346 595,261 0.46 Humana Incorporated + Healthcare – Services 5,673 2,347,998 1.83 Intuit Incorporated + Software 7,195 2,347,081 1.83 JB Hunt Transport Services Incorporated + Transportation 15,583 1,969,380 1.54 Kroger Company + Food 64,128 2,174,581 1.70 Masco Corporation + Building Materials 25,295 1,394,513 1.09 Microsoft Corporation + Software 4,053 852,468 0.67 NeoPhotonics Corporation + Telecommunications 18,786 114,407 0.09

The accompanying notes are an integral part of these financial statements.

Wells Fargo (Lux) Worldwide Fund | 53

Portfolio of investments as at 30 September 2020 (unaudited)

GLOBAL LONG/SHORT EQUITY FUND Market % of Value Net Industry Shares USD Assets

Transferable securities and money market instruments admitted to an official stock exchange listing or dealt in on another regulated market

Common Shares (continued) United States (continued) NetApp Incorporated + Computers 32,087 1,406,694 1.10 NortonLifeLock Incorporated + Internet 76,518 1,594,635 1.24 NRG Energy Incorporated + Electric 483 14,847 0.01 NVIDIA Corporation + Semiconductors 4,020 2,175,704 1.70 NVR Incorporated + Home Builders 340 1,388,261 1.08 Old Dominion Freight Line Incorporated + Transportation 9,898 1,790,746 1.40 PetMed Express Incorporated + Retail 19,032 601,792 0.47 PulteGroup Incorporated + Home Builders 30,780 1,424,806 1.11 Quidel Corporation + Healthcare – Products 2,179 478,029 0.37 Regeneron Pharmaceuticals Incorporated + Biotechnology 2,428 1,359,146 1.06 Renewable Energy Group Incorporated + Energy-Alternate Sources 13,971 746,331 0.58 Revolve Group Incorporated + Internet 27,000 443,610 0.35 Seagate Technology plc + Computers 37,831 1,863,933 1.46 SEI Investments Company + Diversified Financial Services 7,369 373,756 0.29 Tesla Incorporated + Auto Manufacturers 3,787 1,624,661 1.27 Vertex Pharmaceuticals Incorporated + Biotechnology 8,803 2,395,472 1.87 Wayfair Incorporated + Internet 5,678 1,652,355 1.29 Zoom Video Communications Incorporated + Software 3,263 1,533,969 1.20 Zynex Incorporated + Healthcare – Products 29,687 518,038 0.40 74,911,990 58.48 Total Common Shares 112,978,387 88.20 Total Investments in Securities 112,978,387 88.20

Interest Rate % Nominal @

Cash at Banks Time Deposits Cayman Islands BBH Grand Cayman (o) 0.01 21 AUD 15 0.00 BBH Grand Cayman (o) 0.01 38 GBP 49 0.00 BBH Grand Cayman (o) 0.01 32 HKD 4 0.00 BBH Grand Cayman (o) 0.01 20 NZD 13 0.00 BBH Grand Cayman (o) 0.01 53 SGD 39 0.00 BBH Grand Cayman (o) 0.03 388 CAD 292 0.00 412 0.00

United States Citibank (o) 0.01 12,641,047 USD 12,641,047 9.87 Total Time Deposits 12,641,459 9.87 Current Accounts at Bank 2,339,836 1.83 Total Cash at Banks 14,981,295 11.70

Other Assets and Liabilities, Net 129,199 0.10 Total Net Assets 128,088,881 100.00

The accompanying notes are an integral part of these financial statements.

54 | Wells Fargo (Lux) Worldwide Fund

Portfolio of investments as at 30 September 2020 (unaudited)

+ All or a portion of the security is segregated as collateral for investments in contracts for difference. @ Nominal amount is denominated in currency indicated. (o) Overnight deposit.

Key: AUD Australian Dollar CAD Canadian Dollar GBP British Pound HKD Hong Kong Dollar NZD New Zealand Dollar REIT Real Estate Investment Trust SGD Singapore Dollar USD United States Dollar

The securities have been classified based upon country of incorporation/domiciliation.

The accompanying notes are an integral part of these financial statements.

Wells Fargo (Lux) Worldwide Fund | 55

Portfolio of investments as at 30 September 2020 (unaudited)

GLOBAL LOW VOLATILITY EQUITY FUND Market % of Value Net Industry Shares USD Assets

Transferable securities and money market instruments admitted to an official stock exchange listing or dealt in on another regulated market

Common Shares Australia Coles Group Limited Food 5,230 63,760 0.88

Belgium Colruyt SA Food 1,242 80,615 1.11

Brazil Atacadao SA Retail 4,000 14,541 0.20 Raia Drogasil SA Retail 2,500 10,388 0.14 24,929 0.34

Canada B2Gold Corporation Mining 2,700 17,525 0.24 Barrick Gold Corporation Mining 2,800 78,398 1.08 Empire Company Limited Food 1,900 54,977 0.76 Kinross Gold Corporation Mining 6,000 52,779 0.72 Lululemon Athletica Incorporated Retail 179 58,957 0.81 262,636 3.61

Chile Colbun SA Electric 145,844 23,492 0.32

China Anhui Conch Cement Company Limited Building Materials 1,000 6,926 0.09 China Conch Venture Holdings Limited Environmental Control 4,000 18,609 0.26 China Telecom Corporation Limited Internet 42,000 12,619 0.17 Country Garden Services Holdings Company Limited Real Estate 2,000 12,989 0.18 Dali Foods Group Company Limited Food 28,500 17,455 0.24 ENN Energy Holdings Limited Oil & Gas Services 1,300 14,265 0.20 Haitian International Holdings Limited Machinery – Diversified 3,000 6,983 0.10 Hengan International Group Company Limited Healthcare – Products 2,000 14,640 0.20 Jiangsu Expressway Company Limited Commercial Services 26,000 26,247 0.36 Longfor Group Holdings Limited Real Estate 3,000 16,999 0.23 NetEase Incorporated ADR Software 50 22,734 0.31 Ping An Healthcare & Technology Company Limited Healthcare – Services 1,000 12,903 0.18 Shandong Weigao Group Medical Polymer Company Limited Healthcare – Products 8,000 16,007 0.22 Shanghai Pharmaceuticals Holding Company Limited Retail 2,500 4,193 0.06 Shenzhen Expressway Company Limited Commercial Services 12,000 10,482 0.14 Sinotruk Hong Kong Limited Auto Manufacturers 6,000 15,463 0.21 Tencent Music Entertainment Group ADR Internet 272 4,017 0.05 Tingyi Cayman Islands Holding Corporation Food 10,000 17,707 0.24 Uni-President China Holdings Limited Food 15,000 13,757 0.19 Zhaojin Mining Industry Company Limited Mining 13,000 15,989 0.22 Zhongsheng Group Holdings Limited Retail 2,500 15,726 0.22 Zijin Mining Group Company Limited Mining 8,000 5,114 0.07 301,824 4.14

Czech Republic CEZ AS Electric 513 9,691 0.13

The accompanying notes are an integral part of these financial statements.

56 | Wells Fargo (Lux) Worldwide Fund Portfolio of investments as at 30 September 2020 (unaudited)

GLOBAL LOW VOLATILITY EQUITY FUND Market % of Value Net Industry Shares USD Assets

Transferable securities and money market instruments admitted to an official stock exchange listing or dealt in on another regulated market

Common Shares (continued) Denmark Coloplast AS Healthcare – Products 651 103,211 1.42

Egypt Eastern Company SAE Agriculture 19,599 14,980 0.21

Finland Orion OYJ Pharmaceuticals 1,765 79,980 1.10

France BioMerieux Healthcare – Services 388 60,744 0.83 Danone SA Food 454 29,413 0.40 Sartorius Stedim Biotech Healthcare – Products 80 27,618 0.38 SEB SA Home Furnishings 34 5,532 0.08 123,307 1.69

Germany Knorr-Bremse AG Miscellaneous Manufacturers 577 67,960 0.93 Scout24 AG Internet 449 39,172 0.54 Zalando SE Retail 159 14,858 0.21 121,990 1.68

Greece Hellenic Telecommunications Organization SA Telecommunications 740 10,659 0.15

Hong Kong China Mobile Limited Telecommunications 1,500 9,629 0.13 China Overseas Property Holdings Limited Real Estate 20,000 16,470 0.23 China Resources Cement Holdings Limited Building Materials 14,000 19,247 0.26 China Resources Gas Group Limited Oil & Gas Services 4,000 17,960 0.25 Far East Horizon Limited Diversified Financial Services 22,000 17,953 0.25 Guangdong Investment Limited Water 14,000 22,260 0.30 HKT Trust & HKT Limited Telecommunications 23,000 30,528 0.42 Lee & Man Paper Manufacturing Limited Packaging & Containers 34,000 24,739 0.34 NWS Holdings Limited Engineering & Construction 12,000 9,166 0.13 Shenzhen International Holdings Limited Commercial Services 13,000 20,741 0.28 Sun Art Retail Group Limited Retail 13,000 14,433 0.20 Vinda International Holdings Limited Cosmetics/Personal Care 6,000 19,768 0.27 WH Group Limited Food 95,000 77,493 1.06 300,387 4.12

Hungary Richter Gedeon Nyrt Pharmaceuticals 782 16,523 0.23

India Dr Reddy’s Laboratories Limited ADR Pharmaceuticals 487 33,876 0.46 Infosys Limited ADR Computers 2,403 33,185 0.46 67,061 0.92

Indonesia PT Indofood CBP Sukses Makmur Tbk Food 21,900 14,844 0.20

The accompanying notes are an integral part of these financial statements.

Wells Fargo (Lux) Worldwide Fund | 57

Portfolio of investments as at 30 September 2020 (unaudited)

GLOBAL LOW VOLATILITY EQUITY FUND Market % of Value Net Industry Shares USD Assets

Transferable securities and money market instruments admitted to an official stock exchange listing or dealt in on another regulated market

(continued) Common Shares

Italy DiaSorin SpA Healthcare – Products 134 26,9640.37

Japan Konica Minolta Incorporated Office/Business Equipment 4,000 11,338 0.15 Maruichi Steel Tube Limited Metal Fabricate/Hardware 2,200 0.7655,044 McDonald’s Holdings Co. Japan Limited Retail 100 0.074,861 Nintendo Company Limited Toys/Games/Hobbies 100 56,634 0.78 Oracle Corporation Japan Software 332 35,8260.49 SoftBank Corporation Telecommunications 11,400 127,3091.75 Sundrug Company Limited Retail 2,000 1.0375,344 Tsuruha Holdings Incorporated Retail 600 85,008 1.17 451,364 6.20

Jordan Hikma Pharmaceuticals plc Pharmaceuticals 1,766 59,3040.81

Luxembourg Eurofins Scientific SE Healthcare – Services 33 26,1460.36

Malaysia QL Resources Bhd Agriculture 5,600 13,228 0.18 Telekom Malaysia Bhd Telecommunications 12,300 12,253 0.17 25,481 0.35

Mexico Gruma SAB de CV Food 1,755 19,4530.27 Wal-Mart de Mexico SAB de CV Retail 1,500 0.053,595 23,048 0.32

Netherlands Koninklijke Ahold Delhaize NV Food 4,689 1.90 138,621

New Zealand a2 Milk Company Limited Food 1,942 19,748 0.27 Fisher & Paykel Healthcare Corporation Limited Healthcare – Products 1,505 33,189 0.46 52,937 0.73

Norway Orkla ASA Food 6,912 0.95 69,542

Peru Companhia de Minas Buenaventura SAA ADR Mining 692 8,4560.12 Southern Copper Corporation Mining 70 0.043,169 11,625 0.16

Philippines Globe Telecom Incorporated Telecommunications 550 23,591 0.32

Poland Cyfrowy Polsat SA Media 2,336 16,3450.22

The accompanying notes are an integral part of these financial statements.

58 | Wells Fargo (Lux) Worldwide Fund Portfolio of investments as at 30 September 2020 (unaudited)

GLOBAL LOW VOLATILITY EQUITY FUND Market % of Value Net Industry Shares USD Assets

Transferable securities and money market instruments admitted to an official stock exchange listing or dealt in on another regulated market

(continued) Common Shares Russia Magnit PJSC GDR Food 293 0.06 4,368 Mobile TeleSystems PJSC ADR Telecommunications 637 0.08 5,561 PhosAgro PJSC GDR Chemicals 2,115 0.35 25,423 35,352 0.49

Singapore Singapore Exchange Limited Diversified Financial Services 4,920 0.46 33,183 Venture Corporation Limited Electronics 580 0.11 8,235 41,418 0.57

South Africa AngloGold Ashanti Limited Mining 162 0.06 4,256 SPAR Group Limited Food 1,926 0.30 21,898 Vodacom Group Limited Telecommunications 2,367 0.24 17,431 43,585 0.60

South Korea CJ Logistics Corporation Transportation 182 0.38 27,596 E-MART Incorporated Retail 188 0.31 22,714 GS Retail Company Limited Retail 421 12,066 0.17 KT&G Corporation Agriculture 301 0.29 21,257 Orion Corporation Food 152 0.23 17,032 SK Telecom Company Limited Telecommunications 59 0.1711,994 Yuhan Corporation Pharmaceuticals 214 0.16 11,753 124,412 1.71

Sweden Evolution Gaming Group AB Entertainment 463 0.42 30,612

Switzerland Logitech International SA Computers 1,229 1.31 95,439 Schindler Holding AG Hand/Machine Tools 164 0.62 44,881 140,320 1.93

Taiwan ASE Technology Holding Company Limited ADR Semiconductors 3,000 0.1712,240 Chunghwa Telecom Company Limited ADR Telecommunications 700 0.3525,361 Taiwan Semiconductor Manufacturing Company Limited ADR Semiconductors 200 0.2216,214 United Microelectronics Corporation ADR Semiconductors 6,000 0.3928,740 82,555 1.13

Thailand Advanced Info Service PCL Telecommunications 1,300 0.107,043 Charoen Pokphand Foods PCL Food 6,900 0.086,116 Intouch Holdings PCL Telecommunications 7,200 0.1611,687 24,846 0.34

Turkey BIM Birlesik Magazalar AS Food 1,999 0.25 17,967

The accompanying notes are an integral part of these financial statements.

Wells Fargo (Lux) Worldwide Fund | 59

Portfolio of investments as at 30 September 2020 (unaudited)

GLOBAL LOW VOLATILITY EQUITY FUND Market % of Value Net Industry Shares USD Assets

Transferable securities and money market instruments admitted to an official stock exchange listing or dealt in on another regulated market

Common Shares (continued)

United Kingdom J Sainsbury plc Food 29,185 71,994 0.99 Wm Morrison Supermarkets plc Food 21,713 47,749 0.65 119,743 1.64

United States AbbVie Incorporated Pharmaceuticals 422 36,963 0.51 Activision Blizzard Incorporated Software 966 78,198 1.07 Advanced Micro Devices Incorporated Semiconductors 182 14,922 0.21 Akamai Technologies Incorporated Software 25 2,764 0.04 Amazon.com Incorporated Internet 22 69,272 0.95 American Electric Power Company Incorporated Electric 1,321 107,965 1.48 Apple Incorporated Computers 482 55,821 0.77 Arrow Electronics Incorporated Electronics 146 11,484 0.16 AT&T Incorporated Telecommunications 3,161 90,120 1.24 Biogen Incorporated Biotechnology 263 74,608 1.02 Bio-Rad Laboratories Incorporated Biotechnology 190 97,937 1.34 Campbell Soup Company Food 3,098 149,851 2.06 Cerner Corporation Software 977 70,627 0.97 CH Robinson Worldwide Incorporated Transportation 1,022 104,438 1.43 Citrix Systems Incorporated Software 682 93,918 1.29 Clorox Company Household Products/Wares 571 120,007 1.65 Colgate-Palmolive Company Cosmetics/Personal Care 801 61,797 0.85 Consolidated Edison Incorporated Electric 1,114 86,669 1.19 Costco Wholesale Corporation Retail 300 106,500 1.46 CVS Health Corporation Pharmaceuticals 903 52,735 0.72 DaVita Incorporated Healthcare – Services 57 4,882 0.07 Dollar General Corporation Retail 497 104,181 1.43 Domino’s Pizza Incorporated Retail 219 93,136 1.28 eBay Incorporated Internet 774 40,325 0.55 Expeditors International of Washington Incorporated Transportation 1,090 98,667 1.36 F5 Networks Incorporated Internet 61 7,489 0.10 Facebook Incorporated Internet 263 68,880 0.95 Fox Corporation Media 1,459 40,808 0.56 Hershey Company Food 35 5,017 0.07 Hormel Foods Corporation Food 607 29,676 0.41 Humana Incorporated Healthcare – Services 41 16,970 0.23 IDEXX Laboratories Incorporated Healthcare – Products 148 58,180 0.80 JB Hunt Transport Services Incorporated Transportation 702 88,719 1.22 JM Smucker Company Food 977 112,863 1.55 Johnson & Johnson Pharmaceuticals 481 71,611 0.98 Kellogg Company Food 25 1,615 0.02 Kimberly-Clark Corporation Household Products/Wares 764 112,812 1.55 Kroger Company Food 2,724 92,371 1.27 Lennox International Incorporated Building Materials 75 20,446 0.28 Lowe’s Companies Incorporated Retail 229 37,982 0.52 Merck & Company Incorporated Pharmaceuticals 1,349 111,900 1.54 NetApp Incorporated Computers 1,418 62,165 0.85 Newmont Corporation Mining 1,180 74,871 1.03 Northrop Grumman Corporation Aerospace/Defense 195 61,521 0.85 NortonLifeLock Incorporated Internet 3,229 67,292 0.92

The accompanying notes are an integral part of these financial statements.

60 | Wells Fargo (Lux) Worldwide Fund Portfolio of investments as at 30 September 2020 (unaudited)

GLOBAL LOW VOLATILITY EQUITY FUND Market % of Value Net Industry Shares USD Assets

Transferable securities and money market instruments admitted to an official stock exchange listing or dealt in on another regulated market

(continued) Common Shares

United States (continued) NVR Incorporated Home Builders 8 32,665 0.45 Old Dominion Freight Line Incorporated Transportation 40 7,2370.10 PPL Corporation Electric 2,065 56,1890.77 Progressive Corporation Insurance 655 62,009 0.85 Regeneron Pharmaceuticals Incorporated Biotechnology 161 90,1251.24 Robert Half International Incorporated Commercial Services 1,344 71,151 0.98 Rollins Incorporated Commercial Services 1,516 82,1521.13 Target Corporation Retail 358 56,356 0.77 VeriSign Incorporated Internet 154 31,5470.43 Verizon Communications Incorporated Telecommunications 1,095 65,142 0.89 Vertex Pharmaceuticals Incorporated Biotechnology 355 96,6031.33 Walmart Incorporated Retail 410 0.79 57,363 Waters Corporation Electronics 102 19,9590.27 West Pharmaceutical Services Incorporated Healthcare – Products 372 1.40 102,262 Zoom Video Communications Incorporated Software 146 68,6360.94 3,870,371 53.14

Total Common Shares 7,076,038 97.16

Dividend Yield %

Preferred Shares

Brazil Telefonica Brasil SA 7.75 Telecommunications 1,900 14,637 0.20

Total Preferred Shares 14,637 0.20

Total Transferable Securities and Money Market Instruments 7,090,675 97.36

Other Transferable Securities

Common Shares

Canada Hydro One Limited Electric 800 16,901 0.23 Metro Incorporated Food 700 33,482 0.46

Total Common Shares 50,383 0.69

Total Other Transferable Securities 50,383 0.69

Total Investments in Securities 7,141,058 98.05

The accompanying notes are an integral part of these financial statements.

Wells Fargo (Lux) Worldwide Fund | 61

Portfolio of investments as at 30 September 2020 (unaudited)

GLOBAL LOW VOLATILITY EQUITY FUND Interest Market % of Rate Value Net % Nominal @ USD Assets

Cash at Banks Time Deposits Cayman Islands BBH Grand Cayman (o) (1.51) 394 CHF 428 0.01 BBH Grand Cayman (o) (0.25) 2,222 JPY 21 0.00 BBH Grand Cayman (o) (0.08) 1 NOK 0 0.00 BBH Grand Cayman (o) 0.01 2,748 AUD 1,970 0.03 BBH Grand Cayman (o) 0.01 2,083 HKD 269 0.00 BBH Grand Cayman (o) 0.01 1 SGD 1 0.00 BBH Grand Cayman (o) 0.03 993 CAD 743 0.01 BBH Grand Cayman (o) 3.00 1 ZAR 0 0.00 3,432 0.05

United Kingdom Barclays (o) 0.01 151,192 USD 151,192 2.07 Total Time Deposits 154,624 2.12 Current Accounts at Bank 312 0.01 Total Cash at Banks 154,936 2.13

Other Assets and Liabilities, Net (12,619) (0.18)

Total Net Assets 7,283,375 100.00

@ Nominal amount is denominated in currency indicated. (o) Overnight deposit.

Key: ADR American Depository Receipt AUD AustralianDollar CAD CanadianDollar CHF SwissFranc GDR Global DepositoryReceipt HKD Hong KongDollar JPY JapaneseYen NOK NorwegianKrone SGD SingaporeDollar USD United States Dollar ZAR South AfricanRand

The securities have been classified based upon country of incorporation/domiciliation.

The accompanying notes are an integral part of these financial statements.

62 | Wells Fargo (Lux) Worldwide Fund

Portfolio of investments as at 30 September 2020 (unaudited)

GLOBAL SMALL CAP EQUITY FUND Market % of Value Net Industry Shares USD Assets

Transferable securities and money market instruments admitted to an official stock exchange listing or dealt in on another regulated market

Common Shares Australia Ansell Limited Healthcare – Products 3,076 1.7681,829 Domino’s Pizza Enterprises Limited Retail 802 0.99 45,856 Inghams Group Limited Agriculture 3,604 7,7390.17 Orora Limited Packaging & Containers 6,926 11,9590.26 147,383 3.18

Austria Mayr Melnhof Karton AG Packaging & Containers 165 28,6240.62

Belgium Barco NV Electronics 3,099 65,028 1.40

Canada BlackBerry Limited Software 11,300 51,861 1.12

China iClick Interactive Asia Group Limited ADR Internet 1,052 7,0170.15

France Alten SA Engineering & Construction 922 87,3451.88 Mersen SA Miscellaneous Manufacturers 645 19,790 0.42 Metropole Television SA Media 2,593 0.67 30,958 138,093 2.97

Germany CANCOM SE Computers 483 24,9480.54 Gerresheimer AG Packaging & Containers 834 2.01 93,333 Krones AG Machinery – Diversified 412 0.55 25,478 TAG Immobilien AG Real Estate 2,544 1.65 76,712 220,471 4.75

Hong Kong Sunlight REIT REIT 13,000 5,850 0.13

Ireland Irish Residential Properties REIT plc REIT 24,308 40,1850.87

Israel CyberArk Software Limited Computers 1,055 109,108 2.35

Italy De’ Longhi SpA Home Furnishings 1,153 39,4240.85 GVS SpA Environmental Control 3,454 1.00 46,571 Interpump Group SpA Machinery – Diversified 1,290 1.03 47,839 133,834 2.88

Japan Aeon Delight Company Limited Commercial Services 1,900 52,724 1.14 Daiseki Company Limited Environmental Control 1,900 1.0247,546 DTS Corporation Computers 3,200 68,100 1.47 Fuji Seal International Incorporated Packaging & Containers 2,500 48,075 1.04 Horiba Limited Electronics 500 0.5626,151

The accompanying notes are an integral part of these financial statements.

Wells Fargo (Lux) Worldwide Fund | 63

Portfolio of investments as at 30 September 2020 (unaudited)

GLOBAL SMALL CAP EQUITY FUND Market % of Value Net Industry Shares USD Assets

Transferable securities and money market instruments admitted to an official stock exchange listing or dealt in on another regulated market

(continued) Common Shares Japan (continued) Meitec Corporation Engineering & Construction 1,100 56,100 1.21 Nihon Parkerizing Company Limited Chemicals 5,000 48,9831.05 Orix JREIT Incorporated REIT 36 1.19 55,390 San-A Company Limited Food 600 0.5726,450 Sumitomo Warehouse Company Limited Storage/Warehousing 3,400 0.9343,110 Taikisha Limited Engineering & Construction 800 0.4822,190 494,819 10.66

Luxembourg Stabilus SA Machinery – Diversified 213 0.27 12,469

Netherlands Brunel International NV Commercial Services 1,364 0.22 10,331 IMCD NV Chemicals 290 0.7534,491 TKH Group NV Electronics 255 0.20 9,303 54,125 1.17

Norway Atea ASA Internet 1,629 0.43 20,071

Singapore CapitaLand Commercial Trust REIT 24,300 0.6329,465

Spain Vidrala SA Packaging & Containers 283 0.67 30,858 Viscofan SA Food 949 1.36 63,310 94,168 2.03

Sweden AAK AB Food 2,040 0.8237,967 Hexpol AB Miscellaneous Manufacturers 2,768 24,760 0.53 62,727 1.35

Switzerland Bossard Holding AG Distribution/Wholesale 90 0.3516,257 Bucher Industries AG Machinery – Diversified 82 0.67 31,235 47,492 1.02

United Kingdom Britvic plc Beverages 5,967 1.36 63,228 Domino’s Pizza Group plc Retail 10,312 1.05 48,529 Elementis plc Chemicals 18,690 0.3918,329 Lancashire Holdings Limited Insurance 1,567 14,007 0.30 Morgan Advanced Materials plc Miscellaneous Manufacturers 5,895 0.39 18,078 NCC Group plc Computers 7,990 0.3918,122 Nomad Foods Limited Food 1,758 0.97 44,794 S4 Capital plc Advertising 17,013 1.86 86,274 Spectris plc Electronics 2,048 1.39 64,297 Tate & Lyle plc Food 2,837 0.52 24,347 THG Holdings Limited Internet 4,864 0.81 37,545 437,550 9.43

The accompanying notes are an integral part of these financial statements.

64 | Wells Fargo (Lux) Worldwide Fund Portfolio of investments as at 30 September 2020 (unaudited)

GLOBAL SMALL CAP EQUITY FUND Market % of Value Net Industry Shares USD Assets

Transferable securities and money market instruments admitted to an official stock exchange listing or dealt in on another regulated market

Common Shares (continued) United States ACI Worldwide Incorporated Software 3,239 84,635 1.82 Apogee Enterprises Incorporated Building Materials 784 16,754 0.36 Balchem Corporation Chemicals 540 52,720 1.14 Blackbaud Incorporated Software 1,132 63,200 1.36 Bottomline Technologies DE Incorporated Software 1,251 52,742 1.14 CBIZ Incorporated Commercial Services 5,336 122,034 2.63 Central Garden & Pet Company Household Products/Wares 2,401 86,772 1.87 CorVel Corporation Commercial Services 1,375 117,466 2.53 CSW Industrials Incorporated Machinery – Diversified 1,771 136,810 2.95 Denny’s Corporation Retail 11,954 119,540 2.57 EnPro Industries Incorporated Miscellaneous Manufacturers 1,368 77,169 1.66 Euronet Worldwide Incorporated Commercial Services 803 73,153 1.58 Freshpet Incorporated Retail 94 10,495 0.23 Gibraltar Industries Incorporated Building Materials 1,535 99,990 2.15 Healthcare Services Group Incorporated Food Service 3,844 82,761 1.78 Helen of Troy Limited Household Products/Wares 486 94,051 2.03 HMS Holdings Corporation Commercial Services 1,151 27,566 0.59 ICU Medical Incorporated Healthcare – Products 304 55,559 1.20 Ingevity Corporation Chemicals 1,355 66,991 1.44 Innospec Incorporated Chemicals 2,075 131,389 2.83 Mayville Engineering Company Incorporated Metal Fabricate/Hardware 11,771 108,176 2.33 MGE Energy Incorporated Electric 748 46,870 1.01 Natus Medical Incorporated Healthcare – Products 4,056 69,479 1.50 Neogen Corporation Pharmaceuticals 437 34,195 0.74 Novanta Incorporated Electrical Components & Equipment 1,408 148,319 3.19 NuVasive Incorporated Healthcare – Products 250 12,143 0.26 PAE Incorporated Computers 3,559 30,252 0.65 Primo Water Corporation Beverages 3,100 44,025 0.95 Progress Software Corporation Software 1,415 51,902 1.12 Rogers Corporation Chemicals 514 50,403 1.09 Standex International Corporation Metal Fabricate/Hardware 636 37,651 0.81 Stepan Company Chemicals 1,000 109,000 2.35 Varex Imaging Corporation Healthcare – Products 4,093 52,063 1.12 Vital Farms Incorporated Agriculture 360 14,591 0.31 2,380,866 51.29 Total Common Shares 4,581,206 98.70 Total Investments in Securities 4,581,206 98.70

The accompanying notes are an integral part of these financial statements.

Wells Fargo (Lux) Worldwide Fund | 65

Portfolio of investments as at 30 September 2020 (unaudited)

GLOBAL SMALL CAP EQUITY FUND Interest Market % of Rate Value Net % Nominal @ USD Assets

Cash at Banks

Time Deposits

Cayman Islands BBH Grand Cayman (o) (1.51) 2,913 CHF 3,1630.07 BBH Grand Cayman (o) (0.69) 6,514 EUR 7,637 0.17 BBH Grand Cayman (o) (0.60) 5,191 DKK 818 0.02 BBH Grand Cayman (o) (0.25) 747,451 JPY 7,087 0.15 BBH Grand Cayman (o) 0.01 3,840 AUD 2,750 0.06 BBH Grand Cayman (o) 0.01 1,425 GBP 1,8380.04 BBH Grand Cayman (o) 0.01 10,962 HKD 1,415 0.03 BBH Grand Cayman (o) 0.01 598 SGD 438 0.01 BBH Grand Cayman (o) 0.03 760 CAD 571 0.01 25,717 0.56

United Kingdom ANZ (o) 0.01 82,736 USD 82,736 1.78 Total Time Deposits 108,453 2.34 Total Cash at Banks 108,453 2.34

Other Assets and Liabilities, Net (48,102) (1.04)

Total Net Assets 4,641,557 100.00

@ Nominal amount is denominated in currency indicated. (o) Overnight deposit.

Key: ADR American Depository Receipt AUD AustralianDollar CAD CanadianDollar CHF SwissFranc DKK DanishKrone EUR Euro GBP BritishPound HKD Hong KongDollar JPY JapaneseYen REIT Real Estate InvestmentTrust SGD SingaporeDollar USD United States Dollar

The securities have been classified based upon country of incorporation/domiciliation.

The accompanying notes are an integral part of these financial statements.

66 | Wells Fargo (Lux) Worldwide Fund

Portfolio of investments as at 30 September 2020 (unaudited)

SMALL CAP INNOVATION FUND Market % of Value Net Industry Shares USD Assets

Transferable securities and money market instruments admitted to an official stock exchange listing or dealt in on another regulated market

Common Shares Argentina Globant SA Computers 514 92,119 1.57

Canada Cargojet Incorporated Transportation 544 77,914 1.33 Sandstorm Gold Limited Mining 7,329 61,857 1.05 Zymeworks Incorporated Biotechnology 621 28,926 0.49 168,697 2.87

China Zai Lab Limited ADR Biotechnology 616 51,233 0.87

India WNS Holdings Limited ADR Computers 1,221 78,095 1.33

Ireland Keywords Studios plc Computers 3,021 84,824 1.44

Poland CD Projekt SA Software 675 73,087 1.25

Switzerland CRISPR Therapeutics AG Biotechnology 336 28,103 0.48

United Kingdom Clarivate plc Software 3,015 93,435 1.59 Games Workshop Group plc Toys/Games/Hobbies 672 88,167 1.50 GAN Limited Entertainment 2,196 37,112 0.63 218,714 3.72

United States Advanced Drainage Systems Incorporated Metal Fabricate/Hardware 1,669 1.77 104,212 Allied Motion Technologies Incorporated Electronics 1,166 48,1330.82 Amedisys Incorporated Healthcare – Services 375 88,6611.51 Avalara Incorporated Commercial Services 491 1.06 62,524 Axonics Modulation Technologies Incorporated Healthcare – Products 1,127 57,5220.98 Berkeley Lights Incorporated Biotechnology 734 0.95 56,048 Bill.com Holdings Incorporated Software 622 1.06 62,393 BioLife Solutions Incorporated Healthcare – Products 1,702 49,2560.84 Black Diamond Therapeutics Incorporated Biotechnology 706 21,342 0.36 Bluebird Bio Incorporated Biotechnology 394 21,2560.36 Cardlytics Incorporated Software 755 53,2800.91 CareDx Incorporated Healthcare – Products 1,982 75,1971.28 Casella Waste Systems Incorporated Environmental Control 2,482 138,6202.36 Chegg Incorporated Commercial Services 1,157 82,6561.41 ChemoCentryx Incorporated Biotechnology 699 0.65 38,305 Coherus Biosciences Incorporated Pharmaceuticals 1,993 36,5520.62 Construction Partners Incorporated Engineering & Construction 3,645 66,3391.13 Deciphera Pharmaceuticals Incorporated Biotechnology 606 31,088 0.53 Elastic NV Software 855 1.57 92,246 Envestnet Incorporated Software 1,230 94,907 1.62 EPAM Systems Incorporated Computers 268 86,6391.48 Etsy Incorporated Internet 554 67,3831.15

The accompanying notes are an integral part of these financial statements.

Wells Fargo (Lux) Worldwide Fund | 67

Portfolio of investments as at 30 September 2020 (unaudited)

SMALL CAP INNOVATION FUND Market % of Value Net Industry Shares USD Assets

Transferable securities and money market instruments admitted to an official stock exchange listing or dealt in on another regulated market

Common Shares (continued) United States (continued) Euronet Worldwide Incorporated Commercial Services 442 40,266 0.69 Everbridge Incorporated Software 461 57,962 0.99 Five9 Incorporated Software 1,001 129,810 2.21 Goosehead Insurance Incorporated Insurance 997 86,330 1.47 Haemonetics Corporation Healthcare – Products 748 65,263 1.11 Halozyme Therapeutics Incorporated Biotechnology 1,926 50,615 0.86 HealthEquity Incorporated Commercial Services 1,168 60,000 1.02 IAA Incorporated Distribution/Wholesale 1,364 71,024 1.21 Inari Medical Incorporated Healthcare – Products 1,237 85,378 1.45 Innovative Industrial Properties Incorporated REIT 466 57,835 0.99 Inspire Medical Systems Incorporated Healthcare – Products 653 84,270 1.44 iRhythm Technologies Incorporated Healthcare – Products 764 181,916 3.10 Kratos Defense & Security Solutions Incorporated Aerospace/Defense 1,969 37,962 0.65 Lattice Semiconductor Corporation Semiconductors 3,023 87,546 1.49 LendingTree Incorporated Diversified Financial Services 159 48,796 0.83 Littelfuse Incorporated Electrical Components & Equipment 296 52,493 0.89 LivePerson Incorporated Software 1,358 70,602 1.20 Mercury Systems Incorporated Aerospace/Defense 1,038 80,403 1.37 Mirati Therapeutics Incorporated Biotechnology 322 53,468 0.91 MKS Instruments Incorporated Semiconductors 584 63,790 1.09 Model N Incorporated Software 2,381 84,002 1.43 MongoDB Incorporated Software 286 66,212 1.13 MSA Safety Incorporated Hand/Machine Tools 600 80,502 1.37 Natera Incorporated Healthcare – Products 1,429 103,231 1.76 NCR Corporation Computers 2,011 44,524 0.76 Novanta Incorporated Electrical Components & Equipment 877 92,383 1.57 Novocure Limited Healthcare – Products 428 47,641 0.81 Nurix Therapeutics Incorporated Biotechnology 1,245 43,463 0.74 ORIC Pharmaceuticals Incorporated Pharmaceuticals 540 13,505 0.23 OrthoPediatrics Corporation Healthcare – Products 1,276 58,594 1.00 Phreesia Incorporated Software 1,580 50,765 0.86 Progyny Incorporated Commercial Services 1,346 39,613 0.67 Purple Innovation Incorporated Home Furnishings 4,188 104,114 1.77 QTS Realty Trust Incorporated REIT 1,593 100,391 1.71 Quidel Corporation Healthcare – Products 310 68,008 1.16 Relay Therapeutics Incorporated Biotechnology 361 15,375 0.26 Rexford Industrial Realty Incorporated REIT 1,568 71,752 1.22 Saia Incorporated Transportation 629 79,342 1.35 Shift4 Payments Incorporated Commercial Services 1,451 70,170 1.19 Shockwave Medical Incorporated Healthcare – Products 1,187 89,975 1.53 Simulations Plus Incorporated Software 1,065 80,258 1.37 SiteOne Landscape Supply Incorporated Distribution/Wholesale 976 119,023 2.03 Smartsheet Incorporated Software 602 29,751 0.51 Sprout Social Incorporated Software 1,366 52,591 0.90 Stoneridge Incorporated Electronics 1,866 34,278 0.58 Tetra Tech Incorporated Environmental Control 1,002 95,691 1.63 Trex Company Incorporated Building Materials 1,020 73,032 1.24 Turning Point Therapeutics Incorporated Biotechnology 579 50,581 0.86 Twist Bioscience Corporation Biotechnology 1,011 76,806 1.31 Universal Display Corporation Electrical Components & Equipment 271 48,981 0.83 Veracyte Incorporated Biotechnology 2,043 66,377 1.13

The accompanying notes are an integral part of these financial statements.

68 | Wells Fargo (Lux) Worldwide Fund

Portfolio of investments as at 30 September 2020 (unaudited)

SMALL CAP INNOVATION FUND Market % of Value Net Industry Shares USD Assets

Transferable securities and money market instruments admitted to an official stock exchange listing or dealt in on another regulated market

Common Shares (continued) United States (continued) WEX Incorporated Commercial Services 462 64,204 1.09 Workiva Incorporated Software 1,025 57,154 0.97 5,072,577 86.36 Total Common Shares 5,867,449 99.89 Total Investments in Securities 5,867,449 99.89

Interest Rate % Nominal @

Cash at Banks Time Deposits Cayman Islands BBH Grand Cayman (o) 0.01 203 GBP 261 0.01 BBH Grand Cayman (o) 0.03 65 CAD 49 0.00 310 0.01

Netherlands ING Bank NV (o) 0.01 75,760 USD 75,760 1.29 Total Time Deposits 76,070 1.30 Total Cash at Banks 76,070 1.30

Other Assets and Liabilities, Net (69,645) (1.19) Total Net Assets 5,873,874 100.00

@ Nominal amount is denominated in currency indicated. (o) Overnight deposit.

Key: ADR American Depository Receipt CAD CanadianDollar GBP BritishPound REIT Real Estate InvestmentTrust USD United StatesDollar

The securities have been classified based upon country of incorporation/domiciliation.

The accompanying notes are an integral part of these financial statements.

Wells Fargo (Lux) Worldwide Fund | 69

Portfolio of investments as at 30 September 2020 (unaudited)

U.S. ALL CAP GROWTH FUND Market % of Value Net Industry Shares USD Assets

Transferable securities and money market instruments admitted to an official stock exchange listing or dealt in on another regulated market

Common Shares Australia Atlassian Corporation plc Software 17,170 3,121,334 0.28

Canada Shopify Incorporated Internet 600 613,782 0.06

Israel Fiverr International Limited Internet 31,540 4,383,429 0.40

Sweden Spotify Technology SA Internet 8,780 2,129,765 0.19

United Kingdom Linde plc Chemicals 49,505 11,788,626 1.07

United States Adaptive Biotechnologies Corporation Healthcare – Products 145,955 7,097,792 0.65 Air Products & Chemicals Incorporated Chemicals 15,340 4,569,172 0.42 Alphabet Incorporated Class A Internet 31,315 45,895,264 4.18 Alphabet Incorporated Class C Internet 2,138 3,142,005 0.29 Amazon.com Incorporated Internet 31,880 100,381,512 9.13 Anaplan Incorporated Internet 45,166 2,826,488 0.26 Apple Incorporated Computers 366,660 42,462,895 3.86 Assetmark Financial Holdings Incorporated Diversified Financial Services 205,388 4,465,135 0.41 AZEK Company Incorporated Building Materials 62,363 2,170,856 0.20 Biohaven Pharmaceutical Holding Company Limited Biotechnology 127,525 8,290,400 0.75 Bio-Techne Corporation Healthcare – Products 9,360 2,318,753 0.21 Bloom Energy Corporation Machinery-Construction & Mining 107,150 1,925,485 0.18 Boston Scientific Corporation Healthcare – Products 482,116 18,421,652 1.68 Bright Horizons Family Solutions Incorporated Commercial Services 22,800 3,466,512 0.32 Burlington Stores Incorporated Retail 59,150 12,190,223 1.11 Cardlytics Incorporated Software 105,260 7,428,198 0.68 CarMax Incorporated Retail 102,680 9,437,319 0.86 Casella Waste Systems Incorporated Environmental Control 110,779 6,187,007 0.56 Chegg Incorporated Commercial Services 66,723 4,766,691 0.43 Chipotle Mexican Grill Incorporated Retail 5,160 6,417,544 0.58 Cloudflare Incorporated Software 151,367 6,215,129 0.57 Copart Incorporated Distribution/Wholesale 154,720 16,270,355 1.48 CoStar Group Incorporated Commercial Services 12,325 10,457,886 0.95 CSX Corporation Transportation 176,010 13,670,697 1.24 DexCom Incorporated Pharmaceuticals 20,550 8,471,327 0.77 Dynatrace Incorporated Software 401,904 16,486,102 1.50 Edwards Lifesciences Corporation Healthcare – Products 165,300 13,194,246 1.20 Emergent BioSolutions Incorporated Biotechnology 30,730 3,175,331 0.29 Envestnet Incorporated Software 331,437 25,573,679 2.33 Estee Lauder Companies Incorporated Cosmetics/Personal Care 24,245 5,291,471 0.48 Etsy Incorporated Internet 28,885 3,513,283 0.32 Everbridge Incorporated Software 157,637 19,819,700 1.80 Facebook Incorporated Internet 140,200 36,718,380 3.34 Five Below Incorporated Retail 66,324 8,423,148 0.77 Generac Holdings Incorporated Electrical Components & Equipment 10,450 2,023,538 0.18 Global Payments Incorporated Commercial Services 92,495 16,425,262 1.49

The accompanying notes are an integral part of these financial statements.

70 | Wells Fargo (Lux) Worldwide Fund

Portfolio of investments as at 30 September 2020 (unaudited)

U.S. ALL CAP GROWTH FUND Market % of Value Net Industry Shares USD Assets

Transferable securities and money market instruments admitted to an official stock exchange listing or dealt in on another regulated market

Common Shares (continued) United States (continued) Grand Canyon Education Incorporated Commercial Services 47,435 3,791,954 0.34 Home Depot Incorporated Retail 11,315 3,142,289 0.29 HubSpot Incorporated Software 26,720 7,808,386 0.71 Insulet Corporation Healthcare – Products 37,335 8,833,088 0.80 Intuitive Surgical Incorporated Healthcare – Products 6,290 4,463,007 0.41 iRhythm Technologies Incorporated Healthcare – Products 22,217 5,290,090 0.48 Jamf Holding Corporation Software 172,882 6,502,092 0.59 Lemonade Incorporated Insurance 77,937 3,875,028 0.35 LendingTree Incorporated Diversified Financial Services 3,546 1,088,232 0.10 MarketAxess Holdings Incorporated Commercial Services 64,233 30,933,970 2.81 MasterCard Incorporated Diversified Financial Services 110,695 37,433,728 3.41 Microchip Technology Incorporated Semiconductors 208,980 21,474,785 1.95 Microsoft Corporation Software 317,370 66,752,432 6.07 MongoDB Incorporated Software 54,284 12,567,289 1.14 Monolithic Power Systems Incorporated Semiconductors 65,097 18,201,772 1.66 MyoKardia Incorporated Pharmaceuticasls 37,960 5,175,087 0.47 Natera Incorporated Healthcare – Products 277,633 20,056,208 1.82 Norfolk Southern Corporation Transportation 65,140 13,939,309 1.27 Novocure Limited Healthcare – Products 128,870 14,344,520 1.30 Pacira BioSciences Incorporated Pharmaceuticals 46,485 2,794,678 0.25 PayPal Holdings Incorporated Commercial Services 163,255 32,166,133 2.93 Pinterest Incorporated Internet 551,092 22,875,829 2.08 Q2 Holdings Incorporated Internet 86,190 7,865,699 0.72 Rapid7 Incorporated Computers 155,710 9,535,680 0.87 Repligen Corporation Healthcare – Products 68,845 10,157,391 0.92 RingCentral Incorporated Software 15,385 4,224,875 0.38 Roku Incorporated Internet 57,275 10,813,520 0.98 Salesforce.com Incorporated Software 25,101 6,308,383 0.57 ServiceNow Incorporated Software 13,055 6,331,675 0.58 Snowflake Incorporated Software 15,109 3,792,359 0.35 Splunk Incorporated Software 91,609 17,234,401 1.57 Sumo Logic Incorporated Software 64,563 1,407,473 0.13 Switch Incorporated Telecommunications 641,805 10,018,576 0.91 Texas Instruments Incorporated Semiconductors 54,515 7,784,197 0.71 Trade Desk Incorporated Advertising 15,530 8,056,653 0.73 Tradeweb Markets Incorporated Diversified Financial Services 201,342 11,677,836 1.06 TransUnion Commercial Services 27,725 2,332,504 0.21 Twilio Incorporated Software 77,028 19,032,849 1.73 Union Pacific Corporation Transportation 66,052 13,003,657 1.18 Unity Software Incorporated Software 21,419 1,869,450 0.17 Veeva Systems Incorporated Software 63,154 17,758,273 1.62 Vertex Incorporated Software 236,125 5,430,875 0.49 Visa Incorporated Diversified Financial Services 116,265 23,249,512 2.12 Waste Connections Incorporated Environmental Control 135,715 14,087,217 1.28 Zendesk Incorporated Internet 90,370 9,300,880 0.85 Zoetis Incorporated Pharmaceuticals 22,753 3,762,664 0.34 ZoomInfo Technologies Incorporated Software 112,244 4,825,370 0.44 1,072,962,312 97.61 Total Common Shares 1,094,999,248 99.61 Total Investments in Securities 1,094,999,248 99.61

The accompanying notes are an integral part of these financial statements.

Wells Fargo (Lux) Worldwide Fund | 71

Portfolio of investments as at 30 September 2020 (unaudited)

U.S. ALL CAP GROWTH FUND Interest Market % of Rate Value Net % Nominal @ USD Assets

Cash at Banks Time Deposits Cayman Islands BBH Grand Cayman (o) (1.51) 21 CHF 23 0.00 BBH Grand Cayman (o) 0.01 435 GBP 562 0.00 585 0.00

United Kingdom ANZ (o) 0.01 2,282,297 USD 2,282,297 0.21 Total Time Deposits 2,282,882 0.21 Total Cash at Banks 2,282,882 0.21

Other Assets and Liabilities, Net 1,981,520 0.18

Total Net Assets 1,099,263,650 100.00

@ Nominal amount is denominated in currency indicated. (o) Overnight deposit.

Key: CHF Swiss Franc GBP BritishPound USD United StatesDollar

The securities have been classified based upon country of incorporation/domiciliation.

The accompanying notes are an integral part of these financial statements.

72 | Wells Fargo (Lux) Worldwide Fund

Portfolio of investments as at 30 September 2020 (unaudited)

U.S. HIGH YIELD BOND FUND Interest Market % of Rate Maturity Nominal Value Net % Date Industry USD USD Assets

Transferable securities and money market instruments admitted to an official stock exchange listing or dealt in on another regulated market

Corporate Bonds and Notes Canada Air Canada 7.75 15/4/2021 Airlines 150,000 150,375 0.21 Bausch Health Companies Incorporated 5.00 30/1/2028 Pharmaceuticals 75,000 72,844 0.10 Bausch Health Companies Incorporated 5.25 30/1/2030 Pharmaceuticals 50,000 49,263 0.07 Bausch Health Companies Incorporated 5.50 1/3/2023 Pharmaceuticals 38,000 37,858 0.05 Bausch Health Companies Incorporated 5.50 1/11/2025 Pharmaceuticals 175,000 179,156 0.26 Bausch Health Companies Incorporated 5.88 15/5/2023 Pharmaceuticals 35,000 34,825 0.05 Bausch Health Companies Incorporated 6.13 15/4/2025 Pharmaceuticals 250,000 255,938 0.36 Bausch Health Companies Incorporated 6.25 15/2/2029 Pharmaceuticals 150,000 154,284 0.22 Bausch Health Companies Incorporated 7.00 15/3/2024 Pharmaceuticals 350,000 362,250 0.52 Bausch Health Companies Incorporated 7.00 15/1/2028 Pharmaceuticals 75,000 79,312 0.11 Baytex Energy Corporation 5.63 1/6/2024 Oil & Gas Services 775,000 437,875 0.62 Baytex Energy Corporation 8.75 1/4/2027 Oil & Gas Services 250,000 112,812 0.16 Cenovus Energy Incorporated 5.38 15/7/2025 Oil & Gas Services 25,000 24,056 0.04 Clarios Global LP 6.75 15/5/2025 Auto Parts & Equipment 25,000 26,312 0.04 Ritchie Bros Auctioneers Incorporated 5.38 15/1/2025 Commercial Services 750,000 771,563 1.10 Telesat Canada 6.50 15/10/2027 Telecommunications 175,000 176,260 0.25 2,924,983 4.16

Luxembourg Intelsat Connect Finance SA (d) 9.50 15/2/2023 Telecommunications 200,000 66,000 0.10 Intelsat Jackson Holdings SA (d) 5.50 1/8/2023 Telecommunications 975,000 611,813 0.87 Intelsat Jackson Holdings SA (d) 8.50 15/10/2024 Telecommunications 175,000 112,875 0.16 Intelsat Luxembourg SA (d) 8.13 1/6/2023 Telecommunications 175,000 7,437 0.01 Nielsen Company Luxembourg Sarl 5.00 1/2/2025 Commercial Services 175,000 177,844 0.25 975,969 1.39

Netherlands OI European Group BV 4.00 15/3/2023 Packaging & Containers 75,000 76,125 0.11 Sensata Technologies BV 5.00 1/10/2025 Electronics 35,000 37,625 0.05 Sensata Technologies BV 5.63 1/11/2024 Electronics 225,000 244,125 0.35 Teva Pharmaceutical Finance Netherlands III BV 4.10 1/10/2046 Pharmaceuticals 375,000 311,887 0.44 Teva Pharmaceutical Finance Netherlands III BV 6.75 1/3/2028 Pharmaceuticals 425,000 443,063 0.63 1,112,825 1.58

United Kingdom Sensata Technologies UK Financing Company plc 6.25 15/2/2026 Semiconductors 100,000 104,750 0.15 Virgin Media Finance plc 5.00 15/7/2030 Media 200,000 199,000 0.28 303,750 0.43

United States ACCO Brands Corporation 5.25 15/12/2024 Household Products/Wares 125,000 127,969 0.18 Allison Transmission Incorporated 4.75 1/10/2027 Auto Manufacturers 100,000 102,875 0.15 Allison Transmission Incorporated 5.00 1/10/2024 Auto Manufacturers 925,000 934,305 1.33 Allison Transmission Incorporated 5.88 1/6/2029 Auto Manufacturers 100,000 108,150 0.15 AmWINS Group Incorporated 7.75 1/7/2026 Insurance 425,000 454,750 0.65 Antero Midstream Partners LP 5.75 15/1/2028 Pipelines 725,000 596,312 0.85 Apache Corporation 4.75 15/4/2043 Oil & Gas Services 225,000 199,890 0.28 Apache Corporation 4.88 15/11/2027 Oil & Gas Services 25,000 23,625 0.03

The accompanying notes are an integral part of these financial statements.

Wells Fargo (Lux) Worldwide Fund | 73

Portfolio of investments as at 30 September 2020 (unaudited)

U.S. HIGH YIELD BOND FUND Interest Market % of Rate Maturity Nominal Value Net % Date Industry USD USD Assets

Transferable securities and money market instruments admitted to an official stock exchange listing or dealt in on another regulated market

Corporate Bonds and Notes (continued) United States (continued) Archrock Partners LP 6.25 1/4/2028 Oil & Gas Services 75,000 70,687 0.10 Archrock Partners LP 6.88 1/4/2027 Oil & Gas Services 250,000 240,052 0.34 Ardagh Packaging Finance plc 5.25 30/4/2025 Packaging & Containers 50,000 52,250 0.07 Asbury Automotive Group Incorporated 4.50 1/3/2028 Retail 179,000 180,119 0.26 Asbury Automotive Group Incorporated 4.75 1/3/2030 Retail 164,000 165,230 0.23 Bausch Health Americas Incorporated 8.50 31/1/2027 Pharmaceuticals 100,000 109,875 0.16 Berry Global Incorporated 4.88 15/7/2026 Packaging & Containers 100,000 104,875 0.15 Berry Global Incorporated 5.13 15/7/2023 Packaging & Containers 75,000 76,132 0.11 Berry Global Incorporated 5.63 15/7/2027 Packaging & Containers 25,000 26,219 0.04 Black Knight InfoServ LLC 3.63 1/9/2028 Software 25,000 25,266 0.04 Block Communications Incorporated 4.88 1/3/2028 Media 100,000 102,000 0.14 Bristow Group Incorporated 7.75 15/12/2022 Transportation 1,361,000 1,299,891 1.85 Buckeye Partners LP 5.85 15/11/2043 Pipelines 225,000 208,428 0.30 Cablevision Lightpath LLC 3.88 15/9/2027 Internet 50,000 50,000 0.07 Cablevision Lightpath LLC 5.63 15/9/2028 Internet 175,000 177,817 0.25 Callon Petroleum Company 6.13 1/10/2024 Oil & Gas Services 250,000 71,250 0.10 Callon Petroleum Company 8.25 15/7/2025 Oil & Gas Services 277,000 74,790 0.11 Cardtronics Incorporated 5.50 1/5/2025 Commercial Services 899,000 899,000 1.28 Carnival Corporation 11.50 1/4/2023 Leisure Time 325,000 364,318 0.52 Carriage Services Incorporated 6.63 1/6/2026 Commercial Services 525,000 551,250 0.78 CCM Merger Incorporated 6.00 15/3/2022 Entertainment 1,225,000 1,207,580 1.72 CCO Holdings LLC 4.50 15/8/2030 Media 725,000 761,283 1.08 CCO Holdings LLC 4.50 1/5/2032 Media 350,000 365,312 0.52 CCO Holdings LLC 5.00 1/2/2028 Media 150,000 157,687 0.22 CCO Holdings LLC 5.13 1/5/2027 Media 75,000 78,916 0.11 CCO Holdings LLC 5.75 15/2/2026 Media 425,000 442,000 0.63 Change Healthcare Holdings LLC 5.75 1/3/2025 Software 600,000 607,500 0.86 Cheniere Corpus Christi Holdings LLC 5.13 30/6/2027 Pipelines 75,000 83,505 0.12 Cheniere Energy Incorporated 4.63 15/10/2028 Pipelines 45,000 46,181 0.07 Cheniere Energy Partners LP 4.50 1/10/2029 Pipelines 125,000 128,187 0.18 Cheniere Energy Partners LP 5.25 1/10/2025 Pipelines 1,025,000 1,048,575 1.49 Cheniere Energy Partners LP 5.63 1/10/2026 Pipelines 100,000 104,000 0.15 CHS/Community Health Systems Incorporated 6.25 31/3/2023 Healthcare – Services 100,000 97,750 0.14 CHS/Community Health Systems Incorporated 6.63 15/2/2025 Healthcare – Services 550,000 532,070 0.76 Cinemark USA Incorporated 4.88 1/6/2023 Entertainment 550,000 470,250 0.67 Cinemark USA Incorporated 5.13 15/12/2022 Entertainment 175,000 155,750 0.22 Cinemark USA Incorporated 8.75 1/5/2025 Entertainment 25,000 26,500 0.04 Clarios Global LP 6.25 15/5/2026 Auto Parts & Equipment 75,000 78,641 0.11 Clearwater Paper Corporation 4.75 15/8/2028 Forest Products & Paper 50,000 50,125 0.07 Clearwater Paper Corporation 5.38 1/2/2025 Forest Products & Paper 125,000 131,013 0.19 CommScope Incorporated 8.25 1/3/2027 Telecommunications 200,000 208,000 0.30 CommScope Technologies LLC 6.00 15/6/2025 Telecommunications 94,000 95,274 0.13 Consolidated Communications Incorporated 6.50 1/10/2028 Telecommunications 170,000 173,400 0.25 CoreCivic Incorporated 4.63 1/5/2023 REIT 130,000 123,500 0.18 CoreCivic Incorporated 5.00 15/10/2022 REIT 150,000 147,521 0.21 Covanta Holding Corporation 5.00 1/9/2030 Environmental Control 25,000 25,232 0.04 Covanta Holding Corporation 5.88 1/7/2025 Environmental Control 25,000 25,844 0.04 Crown Americas LLC 4.25 30/9/2026 Packaging & Containers 225,000 233,437 0.33 Crown Americas LLC 4.50 15/1/2023 Packaging & Containers 225,000 233,437 0.33 Crown Americas LLC 4.75 1/2/2026 Packaging & Containers 50,000 51,875 0.07

The accompanying notes are an integral part of these financial statements.

74 | Wells Fargo (Lux) Worldwide Fund

Portfolio of investments as at 30 September 2020 (unaudited)

U.S. HIGH YIELD BOND FUND Interest Market % of Rate Maturity Nominal Value Net % Date Industry USD USD Assets

Transferable securities and money market instruments admitted to an official stock exchange listing or dealt in on another regulated market

Corporate Bonds and Notes (continued) United States (continued) Crown Cork & Seal Company Incorporated 7.38 15/12/2026 Packaging & Containers 208,000 247,287 0.35 CSC Holdings LLC 4.13 1/12/2030 Media 75,000 76,444 0.11 CSC Holdings LLC 4.63 1/12/2030 Media 200,000 200,946 0.29 CSC Holdings LLC 5.38 1/2/2028 Media 325,000 343,281 0.49 CSC Holdings LLC 5.50 15/5/2026 Media 200,000 208,000 0.30 CSC Holdings LLC 7.50 1/4/2028 Media 250,000 276,182 0.39 Darling Ingredients Incorporated 5.25 15/4/2027 Agriculture 175,000 183,750 0.26 DaVita Incorporated 3.75 15/2/2031 Healthcare – Services 100,000 96,355 0.14 DaVita Incorporated 4.63 1/6/2030 Healthcare – Services 150,000 153,960 0.22 Dell International LLC 5.88 15/6/2021 Computers 116,000 116,222 0.16 Dell International LLC 7.13 15/6/2024 Computers 675,000 702,202 1.00 Delta Air Lines Incorporated 4.75 20/10/2028 Airlines 655,000 679,563 0.97 Diamond Sports Group LLC 5.38 15/8/2026 Media 85,000 60,137 0.08 Diamond Sports Group LLC 6.63 15/8/2027 Media 225,000 117,000 0.17 Encompass Health Corporation 4.50 1/2/2028 Healthcare – Services 25,000 25,125 0.04 Encompass Health Corporation 4.75 1/2/2030 Healthcare – Services 75,000 76,090 0.11 Encompass Health Corporation 5.75 1/11/2024 Healthcare – Services 100,000 100,150 0.14 Encompass Health Corporation 5.75 15/9/2025 Healthcare – Services 96,000 98,880 0.14 EnLink Midstream Partners LP 4.15 1/6/2025 Pipelines 28,000 24,109 0.03 EnLink Midstream Partners LP 4.40 1/4/2024 Pipelines 75,000 67,555 0.10 EnLink Midstream Partners LP 5.05 1/4/2045 Pipelines 300,000 191,079 0.27 EnLink Midstream Partners LP 5.45 1/6/2047 Pipelines 1,025,000 642,531 0.91 EnLink Midstream Partners LP 5.60 1/4/2044 Pipelines 300,000 192,750 0.27 Enviva Partners LP 6.50 15/1/2026 Energy – Alternate Sources 675,000 711,281 1.01 EQM Midstream Partners LP 6.00 1/7/2025 Pipelines 25,000 25,781 0.04 EQM Midstream Partners LP 6.50 1/7/2027 Pipelines 50,000 53,001 0.07 EQM Midstream Partners LP 6.50 15/7/2048 Pipelines 100,000 94,187 0.13 EW Scripps Company 5.13 15/5/2025 Media 650,000 635,375 0.90 Fair Isaac Corporation 4.00 15/6/2028 Software 75,000 77,344 0.11 Fair Isaac Corporation 5.25 15/5/2026 Software 150,000 166,500 0.24 FirstCash Incorporated 4.63 1/9/2028 Retail 125,000 127,812 0.18 Flex Acquisition Company Incorporated 6.88 15/1/2025 Packaging & Containers 300,000 299,815 0.43 Flex Acquisition Company Incorporated 7.88 15/7/2026 Packaging & Containers 50,000 50,500 0.07 Ford Motor Company 4.75 15/1/2043 Auto Manufacturers 375,000 339,534 0.48 Ford Motor Company 9.00 22/4/2025 Auto Manufacturers 50,000 57,325 0.08 Ford Motor Company 9.63 22/4/2030 Auto Manufacturers 50,000 64,562 0.09 Ford Motor Credit Company LLC 4.39 8/1/2026 Auto Manufacturers 400,000 395,436 0.56 Ford Motor Credit Company LLC 5.11 3/5/2029 Auto Manufacturers 575,000 590,812 0.84 Ford Motor Credit Company LLC 5.13 16/6/2025 Auto Manufacturers 75,000 77,344 0.11 Fortress Transportation & Infrastructure Investors LLC 6.50 1/10/2025 Trucking & Leasing 500,000 491,250 0.70 Fortress Transportation & Infrastructure Investors LLC 9.75 1/8/2027 Trucking & Leasing 40,000 42,650 0.06 Freeport-McMoRan Incorporated 4.13 1/3/2028 Mining 225,000 227,812 0.32 Gartner Incorporated 3.75 1/10/2030 Commercial Services 45,000 45,520 0.06 Genworth Mortgage Holdings Incorporated 6.50 15/8/2025 Diversified Financial Services 30,000 31,341 0.04 Geo Group Incorporated 5.13 1/4/2023 REIT 150,000 121,875 0.17 Geo Group Incorporated 5.88 15/1/2022 REIT 250,000 241,495 0.34 Geo Group Incorporated 5.88 15/10/2024 REIT 150,000 114,750 0.16 Geo Group Incorporated 6.00 15/4/2026 REIT 75,000 53,625 0.08 Gray Television Incorporated 5.13 15/10/2024 Media 350,000 357,000 0.51 Gray Television Incorporated 5.88 15/7/2026 Media 350,000 363,125 0.52

The accompanying notes are an integral part of these financial statements.

Wells Fargo (Lux) Worldwide Fund | 75

Portfolio of investments as at 30 September 2020 (unaudited)

U.S. HIGH YIELD BOND FUND Interest Market % of Rate Maturity Nominal Value Net % Date Industry USD USD Assets

Transferable securities and money market instruments admitted to an official stock exchange listing or dealt in on another regulated market

Corporate Bonds and Notes (continued) United States (continued) Gray Television Incorporated 7.00 15/5/2027 Media 225,000 243,931 0.35 Group 1 Automotive Incorporated 4.00 15/8/2028 Retail 150,000 147,375 0.21 Harvest Midstream I LP 7.50 1/9/2028 Pipelines 100,000 99,500 0.14 HCA Incorporated 3.50 1/9/2030 Healthcare – Services 150,000 152,732 0.22 Hilcorp Energy I LP 5.00 1/12/2024 Oil & Gas Services 325,000 294,937 0.42 Hilcorp Energy I LP 5.75 1/10/2025 Oil & Gas Services 455,000 411,775 0.59 Hilcorp Energy I LP 6.25 1/11/2028 Oil & Gas Services 150,000 136,500 0.19 Hill-Rom Holdings Incorporated 4.38 15/9/2027 Healthcare – Products 175,000 181,117 0.26 Hill-Rom Holdings Incorporated 5.00 15/2/2025 Healthcare – Products 200,000 206,500 0.29 Hilton Domestic Operating Company Incorporated 4.25 1/9/2024 Lodging 100,000 100,250 0.14 Hilton Domestic Operating Company Incorporated 4.88 15/1/2030 Lodging 75,000 77,250 0.11 Hologic Incorporated 3.25 15/2/2029 Healthcare – Products 235,000 236,469 0.34 Hologic Incorporated 4.63 1/2/2028 Healthcare – Products 125,000 131,297 0.19 HUB International Limited 7.00 1/5/2026 Insurance 150,000 155,437 0.22 IAA Incorporated 5.50 15/6/2027 Distribution/Wholesale 600,000 624,750 0.89 Indigo Natural Resources LLC 6.88 15/2/2026 Oil & Gas Services 150,000 145,992 0.21 IQVIA Incorporated 5.00 15/10/2026 Healthcare – Services 150,000 156,750 0.22 Kaiser Aluminum Corporation 4.63 1/3/2028 Mining 100,000 93,250 0.13 Kaiser Aluminum Corporation 6.50 1/5/2025 Mining 50,000 51,539 0.07 KAR Auction Services Incorporated 5.13 1/6/2025 Distribution/Wholesale 975,000 974,980 1.39 KFC Holding Company 5.00 1/6/2024 Retail 175,000 179,427 0.25 KFC Holding Company 5.25 1/6/2026 Retail 150,000 155,850 0.22 Ladder Capital Finance Holdings LLLP 4.25 1/2/2027 REIT 50,000 43,250 0.06 Ladder Capital Finance Holdings LLLP 5.25 15/3/2022 REIT 50,000 49,015 0.07 Ladder Capital Finance Holdings LLLP 5.25 1/10/2025 REIT 350,000 324,187 0.46 Lamar Media Corporation 3.75 15/2/2028 Advertising 125,000 124,375 0.18 Lamar Media Corporation 4.00 15/2/2030 Advertising 175,000 175,000 0.25 Level 3 Financing Incorporated 3.63 15/1/2029 Telecommunications 245,000 241,937 0.34 Level 3 Financing Incorporated 4.25 1/7/2028 Telecommunications 125,000 126,915 0.18 Level 3 Financing Incorporated 5.38 15/1/2024 Telecommunications 125,000 126,150 0.18 Levi Strauss & Company 5.00 1/5/2025 Apparel 75,000 76,734 0.11 Lithia Motors Incorporated 4.63 15/12/2027 Retail 75,000 77,438 0.11 Lithia Motors Incorporated 5.25 1/8/2025 Retail 375,000 385,313 0.55 Live Nation Entertainment Incorporated 6.50 15/5/2027 Entertainment 50,000 53,962 0.08 Logan Merger Sub Incorporated 5.50 1/9/2027 Software 45,000 45,675 0.06 LPL Holdings Incorporated 4.63 15/11/2027 Diversified Financial Services 300,000 303,000 0.43 LPL Holdings Incorporated 5.75 15/9/2025 Diversified Financial Services 425,000 440,379 0.63 Match Group Holdings II LLC 4.13 1/8/2030 Internet 75,000 75,867 0.11 Michaels Stores Incorporated 4.75 1/10/2027 Retail 50,000 49,563 0.07 Mileage Plus Holdings LLC 6.50 20/6/2027 Airlines 675,000 702,844 1.00 MPH Acquisition Holdings LLC 7.13 1/6/2024 Commercial Services 625,000 642,188 0.91 MPT Operating Partnership LP 4.63 1/8/2029 REIT 100,000 104,047 0.15 MPT Operating Partnership LP 5.00 15/10/2027 REIT 75,000 78,203 0.11 MPT Operating Partnership LP 5.25 1/8/2026 REIT 200,000 206,000 0.29 MPT Operating Partnership LP 5.50 1/5/2024 REIT 150,000 151,875 0.22 MPT Operating Partnership LP 6.38 1/3/2024 REIT 30,000 30,810 0.04 MSCI Incorporated 4.75 1/8/2026 Software 150,000 155,625 0.22 Murphy Oil Corporation 5.75 15/8/2025 Oil & Gas Services 90,000 78,514 0.11 Murphy Oil Corporation 5.88 1/12/2027 Oil & Gas Services 250,000 213,510 0.30 NCR Corporation 6.13 1/9/2029 Computers 225,000 237,740 0.34

The accompanying notes are an integral part of these financial statements.

76 | Wells Fargo (Lux) Worldwide Fund

Portfolio of investments as at 30 September 2020 (unaudited)

U.S. HIGH YIELD BOND FUND Interest Market % of Rate Maturity Nominal Value Net % Date Industry USD USD Assets

Transferable securities and money market instruments admitted to an official stock exchange listing or dealt in on another regulated market

Corporate Bonds and Notes (continued) United States (continued) NCR Corporation 8.13 15/4/2025 Computers 50,000 55,263 0.08 New Fortress Energy Incorporated 6.75 15/9/2025 Pipelines 85,000 88,868 0.13 Nexstar Broadcasting Incorporated 4.75 1/11/2028 Media 140,000 142,800 0.20 Nexstar Broadcasting Incorporated 5.63 15/7/2027 Media 575,000 603,146 0.86 NextEra Energy Operating Partners LP 4.25 15/7/2024 Electric 375,000 391,013 0.56 NextEra Energy Operating Partners LP 4.25 15/9/2024 Electric 100,000 104,250 0.15 NextEra Energy Operating Partners LP 4.50 15/9/2027 Electric 200,000 215,000 0.31 Nielsen Finance LLC 5.00 15/4/2022 Commercial Services 244,000 244,610 0.35 Nielsen Finance LLC 5.63 1/10/2028 Commercial Services 140,000 143,850 0.20 Nielsen Finance LLC 5.88 1/10/2030 Commercial Services 875,000 905,625 1.29 NortonLifeLock Incorporated 5.00 15/4/2025 Internet 225,000 230,272 0.33 Novelis Corporation 5.88 30/9/2026 Mining 150,000 154,125 0.22 NSG Holdings LLC 7.75 15/12/2025 Electric 688,481 729,790 1.04 Occidental Petroleum Corporation 4.63 15/6/2045 Oil & Gas Services 1,085,000 784,043 1.11 Occidental Petroleum Corporation 6.20 15/3/2040 Oil & Gas Services 125,000 102,500 0.15 Occidental Petroleum Corporation 6.45 15/9/2036 Oil & Gas Services 835,000 709,767 1.01 Oceaneering International Incorporated 6.00 1/2/2028 Oil & Gas Services 375,000 234,563 0.33 OneMain Finance Corporation 5.38 15/11/2029 Diversified Financial Services 150,000 156,000 0.22 OneMain Finance Corporation 6.13 15/3/2024 Diversified Financial Services 100,000 104,750 0.15 OneMain Finance Corporation 6.63 15/1/2028 Diversified Financial Services 75,000 83,235 0.12 OneMain Finance Corporation 7.13 15/3/2026 Diversified Financial Services 350,000 391,020 0.56 Ortho-Clinical Diagnostics Incorporated 7.25 1/2/2028 Healthcare – Products 100,000 104,000 0.15 Outfront Media Capital LLC 4.63 15/3/2030 Advertising 300,000 288,000 0.41 Owens-Brockway Glass Container Incorporated 5.88 15/8/2023 Packaging & Containers 100,000 105,000 0.15 Pacific Gas & Electric Company 2.50 1/2/2031 Electric 400,000 380,855 0.54 Pacific Gas & Electric Company 3.50 1/8/2050 Electric 400,000 360,342 0.51 Pattern Energy Operations LP 4.50 15/8/2028 Electric 675,000 700,313 1.00 Penske Automotive Group Incorporated 3.50 1/9/2025 Retail 25,000 24,781 0.03 Penske Automotive Group Incorporated 5.38 1/12/2024 Retail 250,000 253,878 0.36 Penske Automotive Group Incorporated 5.50 15/5/2026 Retail 250,000 257,895 0.37 PG&E Corporation 5.00 1/7/2028 Electric 50,000 48,500 0.07 PG&E Corporation 5.25 1/7/2030 Electric 50,000 48,375 0.07 Pike Corporation 5.50 1/9/2028 Electric 40,000 40,248 0.06 Pilgrim’s Pride Corporation 5.75 15/3/2025 Food 250,000 254,688 0.36 Pilgrim’s Pride Corporation 5.88 30/9/2027 Food 100,000 103,250 0.15 Plastipak Holdings Incorporated 6.25 15/10/2025 Packaging & Containers 150,000 150,000 0.21 Polaris Intermediate Corporation 8.50 1/12/2022 Healthcare – Services 125,000 127,188 0.18 Prestige Brands Incorporated 5.13 15/1/2028 Household Products/Wares 75,000 77,438 0.11 Prestige Brands Incorporated 6.38 1/3/2024 Household Products/Wares 25,000 25,625 0.04 Prime Security Services Borrower LLC 3.38 31/8/2027 Commercial Services 375,000 360,469 0.51 Qorvo Incorporated 4.38 15/10/2029 Semiconductors 50,000 53,125 0.08 QVC Incorporated 4.75 15/2/2027 Retail 100,000 102,701 0.15 RBS Global Incorporated 4.88 15/12/2025 Machinery – Diversified 575,000 582,906 0.83 Reynolds Group Issuer Incorporated 5.13 15/7/2023 Packaging & Containers 250,000 253,125 0.36 Rockies Express Pipeline LLC 6.88 15/4/2040 Pipelines 250,000 260,183 0.37 Royal Caribbean Cruises Limited 9.13 15/6/2023 Leisure Time 150,000 159,000 0.23 Salem Media Group Incorporated 6.75 1/6/2024 Media 675,000 583,875 0.83 SBA Communications Corporation 3.88 15/2/2027 REIT 75,000 76,125 0.11 Scripps Escrow Incorporated 5.88 15/7/2027 Media 100,000 96,500 0.14 Sealed Air Corporation 4.88 1/12/2022 Packaging & Containers 100,000 104,288 0.15 Sealed Air Corporation 5.13 1/12/2024 Packaging & Containers 150,000 162,469 0.23

The accompanying notes are an integral part of these financial statements.

Wells Fargo (Lux) Worldwide Fund | 77

Portfolio of investments as at 30 September 2020 (unaudited)

U.S. HIGH YIELD BOND FUND Interest Market % of Rate Maturity Nominal Value Net % Date Industry USD USD Assets

Transferable securities and money market instruments admitted to an official stock exchange listing or dealt in on another regulated market

Corporate Bonds and Notes (continued) United States (continued) Select Medical Corporation 6.25 15/8/2026 Healthcare – Services 400,000 416,000 0.59 Sensata Technologies Incorporated 3.75 15/2/2031 Electronics 315,000 313,031 0.44 Service Corporation International 3.38 15/8/2030 Commercial Services 150,000 150,188 0.21 Service Corporation International 5.13 1/6/2029 Commercial Services 175,000 193,923 0.28 Service Corporation International 7.50 1/4/2027 Commercial Services 250,000 297,500 0.42 Service Corporation International 8.00 15/11/2021 Commercial Services 355,000 377,188 0.54 Service Properties Trust 3.95 15/1/2028 REIT 175,000 146,303 0.21 Service Properties Trust 4.38 15/2/2030 REIT 125,000 103,750 0.15 Service Properties Trust 4.75 1/10/2026 REIT 75,000 66,836 0.09 Service Properties Trust 4.95 15/2/2027 REIT 250,000 222,500 0.32 Service Properties Trust 5.25 15/2/2026 REIT 100,000 92,168 0.13 Service Properties Trust 7.50 15/9/2025 REIT 25,000 26,590 0.04 Signature Aviation US Holdings Incorporated 5.38 1/5/2026 Aerospace/Defense 600,000 606,000 0.86 Sonic Automotive Incorporated 6.13 15/3/2027 Retail 300,000 309,750 0.44 Southwestern Energy Company 7.50 1/4/2026 Oil & Gas Services 150,000 146,625 0.21 Southwestern Energy Company 7.75 1/10/2027 Oil & Gas Services 150,000 145,500 0.21 Southwestern Energy Company 8.38 15/9/2028 Oil & Gas Services 190,000 186,696 0.26 Spectrum Brands Incorporated 5.75 15/7/2025 Household Products/Wares 125,000 128,875 0.18 Sprint Capital Corporation 6.88 15/11/2028 Telecommunications 100,000 124,534 0.18 Sprint Capital Corporation 8.75 15/3/2032 Telecommunications 575,000 841,691 1.20 SS&C Technologies Incorporated 5.50 30/9/2027 Software 250,000 265,680 0.38 Starwood Property Trust Incorporated 5.00 15/12/2021 REIT 350,000 346,336 0.49 Stevens Holding Company Incorporated 6.13 1/10/2026 Machinery – Diversified 726,000 776,820 1.10 Surgery Center Holdings Incorporated 6.75 1/7/2025 Healthcare – Services 200,000 199,230 0.28 Switch Limited 3.75 15/9/2028 Telecommunications 55,000 55,550 0.08 Tallgrass Energy Partners LP 5.50 15/9/2024 Pipelines 750,000 705,000 1.00 Tallgrass Energy Partners LP 7.50 1/10/2025 Pipelines 245,000 245,992 0.35 Tempo Acquisition LLC 5.75 1/6/2025 Computers 25,000 26,188 0.04 Tenet Healthcare Corporation 4.63 15/6/2028 Healthcare – Services 50,000 50,421 0.07 Tenet Healthcare Corporation 4.88 1/1/2026 Healthcare – Services 300,000 304,500 0.43 Tenet Healthcare Corporation 5.13 1/11/2027 Healthcare – Services 125,000 128,575 0.18 Tenet Healthcare Corporation 6.25 1/2/2027 Healthcare – Services 100,000 103,221 0.15 Tenet Healthcare Corporation 7.00 1/8/2025 Healthcare – Services 125,000 128,663 0.18 Tenet Healthcare Corporation 7.50 1/4/2025 Healthcare – Services 50,000 53,875 0.08 TerraForm Power Operating LLC 4.25 31/1/2023 Energy – Alternate Sources 825,000 845,526 1.20 TerraForm Power Operating LLC 4.75 15/1/2030 Energy – Alternate Sources 250,000 265,625 0.38 TerraForm Power Operating LLC 5.00 31/1/2028 Energy – Alternate Sources 225,000 246,302 0.35 T-Mobile USA Incorporated 4.50 1/2/2026 Telecommunications 75,000 77,280 0.11 T-Mobile USA Incorporated 4.75 1/2/2028 Telecommunications 175,000 187,205 0.27 T-Mobile USA Incorporated 5.13 15/4/2025 Telecommunications 175,000 178,827 0.25 T-Mobile USA Incorporated 5.38 15/4/2027 Telecommunications 275,000 293,535 0.42 TriMas Corporation 4.88 15/10/2025 Packaging & Containers 575,000 582,188 0.83 USA Compression Partners LP 6.88 1/4/2026 Oil & Gas Services 275,000 272,594 0.39 USA Compression Partners LP 6.88 1/9/2027 Oil & Gas Services 25,000 24,791 0.03 USI Incorporated 6.88 1/5/2025 Insurance 150,000 151,875 0.22 Valvoline Incorporated 4.25 15/2/2030 Chemicals 75,000 76,500 0.11 Vertical US Newco Incorporated 5.25 15/7/2027 Machinery – Diversified 525,000 545,614 0.78 Vizient Incorporated 6.25 15/5/2027 Pharmaceuticals 75,000 78,563 0.11 Western Midstream Operating LP 5.30 1/3/2048 Pipelines 630,000 507,150 0.72 Western Midstream Operating LP 6.25 1/2/2050 Pipelines 25,000 23,156 0.03 William Carter Company 5.50 15/5/2025 Apparel 50,000 52,375 0.07 William Carter Company 5.63 15/3/2027 Apparel 125,000 130,469 0.19

The accompanying notes are an integral part of these financial statements.

78 | Wells Fargo (Lux) Worldwide Fund

Portfolio of investments as at 30 September 2020 (unaudited)

U.S. HIGH YIELD BOND FUND Interest Market % of Rate Maturity Nominal Value Net % Date Industry USD USD Assets

Transferable securities and money market instruments admitted to an official stock exchange listing or dealt in on another regulated market

Corporate Bonds and Notes (continued)

United States (continued) Windstream Escrow LLC 7.75 15/8/2028 Telecommunications 160,000 157,200 0.22 Wyndham Hotels & Resorts Incorporated 5.38 15/4/2026 Lodging 500,000 508,750 0.72 Yum! Brands Incorporated 7.75 1/4/2025 Retail 25,000 27,625 0.04 62,540,525 88.94 Total Corporate Bonds and Notes 67,858,052 96.50 Total Investments in Securities 67,858,052 96.50

Cash at Banks

Time Deposit

United States Citibank (o) 0.01 1,747,322 1,747,322 2.49 Total Cash at Banks 1,747,322 2.49

Other Assets and Liabilities, Net 708,404 1.01

Total Net Assets 70,313,778 100.00

(d) Defaulted security. (o) Overnight deposit.

Key: REIT Real Estate Investment Trust USD United StatesDollar

The securities have been classified based upon country of incorporation/domiciliation.

The accompanying notes are an integral part of these financial statements.

Wells Fargo (Lux) Worldwide Fund | 79

Portfolio of investments as at 30 September 2020 (unaudited)

U.S. LARGE CAP GROWTH FUND Market % of Value Net Industry Shares USD Assets

Transferable securities and money market instruments admitted to an official stock exchange listing or dealt in on another regulated market

Common Shares

Argentina MercadoLibre Incorporated Internet 3,813 4,127,496 2.24

Australia Atlassian Corporation plc Software 19,486 3,542,360 1.93

Ireland Aptiv plc Auto Parts & Equipment 26,520 2,431,354 1.32

Italy Ferrari NV Auto Manufacturers 13,800 2,540,442 1.38

Switzerland Alcon Incorporated Healthcare – Products 52,980 3,017,211 1.64

United States Air Products & Chemicals Incorporated Chemicals 13,912 4,143,828 2.25 Alphabet Incorporated Class A Internet 6,413 9,398,893 5.11 Alphabet Incorporated Class C Internet 757 1,112,487 0.61 Amazon.com Incorporated Internet 5,462 17,198,363 9.35 Autodesk Incorporated Software 15,411 3,560,095 1.94 Chipotle Mexican Grill Incorporated Retail 2,617 3,254,789 1.77 DexCom Incorporated Pharmaceuticals 7,350 3,029,891 1.65 Edwards Lifesciences Corporation Healthcare – Products 36,470 2,911,036 1.58 Exact Sciences Corporation Biotechnology 34,874 3,555,404 1.93 Fiserv Incorporated Software 36,159 3,726,185 2.03 Global Payments Incorporated Commercial Services 24,027 4,266,715 2.32 Home Depot Incorporated Retail 21,075 5,852,738 3.18 Intercontinental Exchange Incorporated Diversified Financial Services 47,246 4,726,962 2.57 Intuitive Surgical Incorporated Healthcare – Products 6,266 4,445,978 2.42 Match Group Incorporated Internet 21,713 2,402,544 1.31 Merck & Company Incorporated Pharmaceuticals 51,612 4,281,215 2.33 Microsoft Corporation Software 83,794 17,624,392 9.58 MongoDB Incorporated Software 13,414 3,105,475 1.69 Motorola Solutions Incorporated Telecommunications 17,810 2,792,786 1.52 Netflix Incorporated Internet 8,531 4,265,756 2.32 PayPal Holdings Incorporated Commercial Services 35,080 6,911,812 3.76 S&P Global Incorporated Commercial Services 12,164 4,386,338 2.39 SBA Communications Corporation REIT 11,992 3,819,212 2.08 ServiceNow Incorporated Software 13,281 6,441,285 3.50 Sherwin-Williams Company Chemicals 7,886 5,494,492 2.99 Union Pacific Corporation Transportation 24,282 4,780,397 2.60 United Parcel Service Incorporated Transportation 22,217 3,702,019 2.01 UnitedHealth Group Incorporated Healthcare – Services 21,851 6,812,486 3.70 Unity Software Incorporated Software 18,949 1,653,869 0.90 Visa Incorporated Diversified Financial Services 41,676 8,333,950 4.53 Waste Connections Incorporated Environmental Control 44,374 4,606,021 2.50 162,597,413 88.42

Total Common Shares 178,256,276 96.93

Total Transferable Securities and Money Market Instruments 178,256,276 96.93

The accompanying notes are an integral part of these financial statements.

80 | Wells Fargo (Lux) Worldwide Fund

Portfolio of investments as at 30 September 2020 (unaudited)

U.S. LARGE CAP GROWTH FUND Market % of Value Net Industry Shares USD Assets

Other Transferable Securities Common Shares China Tencent Holdings Limited ADR Internet 45,740 3,094,311 1.68 Total Common Shares 3,094,311 1.68 Total Other Transferable Securities 3,094,311 1.68 Total Investments in Securities 181,350,587 98.61

Interest Rate Nominal % USD

Cash at Banks Time Deposit Singapore DBS Bank Limited (o) 0.01 1,076,602 1,076,602 0.59 Total Cash at Banks 1,076,602 0.59

Other Assets and Liabilities, Net 1,474,757 0.80 Total Net Assets 183,901,946 100.00

(o) Overnight deposit.

Key: ADR American Depository Receipt REIT Real Estate InvestmentTrust USD United States Dollar

The securities have been classified based upon country of incorporation/domiciliation.

The accompanying notes are an integral part of these financial statements.

Wells Fargo (Lux) Worldwide Fund | 81

Portfolio of investments as at 30 September 2020 (unaudited)

U.S. SELECT EQUITY FUND Market % of Value Net Industry Shares USD Assets

Transferable securities and money market instruments admitted to an official stock exchange listing or dealt in on another regulated market

Common Shares Bermuda Bank of NT Butterfield & Son Limited Banks 158,967 3,541,785 2.32

Canada Agnico Eagle Mines Limited Mining 85,921 6,840,171 4.48 Norbord Incorporated Building Materials 156,733 4,623,623 3.03 11,463,794 7.51

United Kingdom Nomad Foods Limited Food 169,485 4,318,478 2.83

United States AdaptHealth Corporation Pharmaceuticals 98,841 2,155,722 1.41 Alexion Pharmaceuticals Incorporated Biotechnology 41,666 4,767,840 3.13 AllianceBernstein Holding LP Diversified Financial Services 164,350 4,444,024 2.91 Allison Transmission Holdings Incorporated Auto Parts & Equipment 103,575 3,639,626 2.39 American Eagle Outfitters Incorporated Retail 441,015 6,531,432 4.28 Arch Capital Group Limited Insurance 147,263 4,307,443 2.82 ASGN Incorporated Commercial Services 66,139 4,203,795 2.76 Avis Budget Group Incorporated Commercial Services 167,912 4,419,444 2.90 Axon Enterprise Incorporated Miscellaneous Manufacturers 53,237 4,828,596 3.16 Brooks Automation Incorporated Semiconductors 80,692 3,732,812 2.45 CACI International Incorporated Computers 17,291 3,685,750 2.42 Carlisle Companies Incorporated Miscellaneous Manufacturers 27,390 3,351,714 2.20 Change Healthcare Incorporated Software 333,631 4,840,986 3.17 Cheesecake Factory Incorporated Retail 149,364 4,143,357 2.72 Chewy Incorporated Internet 79,324 4,349,335 2.85 Concho Resources Incorporated Oil & Gas Services 80,485 3,550,998 2.33 Discovery Incorporated Media 197,497 3,870,941 2.54 Dropbox Incorporated Software 229,246 4,415,278 2.89 FLIR Systems Incorporated Electronics 82,556 2,959,633 1.94 Genpact Limited Computers 101,637 3,958,761 2.59 Integer Holdings Corporation Healthcare – Products 75,471 4,453,544 2.92 Jabil Incorporated Electronics 57,960 1,985,710 1.30 MDC Partners Incorporated Advertising 1,542,645 2,483,658 1.63 Mylan NV Pharmaceuticals 210,316 3,118,986 2.04 NCR Corporation Computers 181,527 4,019,008 2.63 Nordstrom Incorporated Retail 137,687 1,641,229 1.08 Palo Alto Networks Incorporated Internet 16,759 4,101,765 2.69 Parsley Energy Incorporated Oil & Gas Services 373,946 3,500,135 2.29 Pinnacle Financial Partners Incorporated Banks 101,783 3,622,457 2.37 Revolve Group Incorporated Internet 233,038 3,828,814 2.51 Sirius XM Holdings Incorporated Media 742,039 3,977,329 2.61 WEX Incorporated Commercial Services 18,659 2,593,041 1.70 YETI Holdings Incorporated Leisure Time 90,169 4,086,459 2.68 Zendesk Incorporated Internet 56,225 5,786,677 3.79 131,356,299 86.10 Total Common Shares 150,680,356 98.76 Total Investments in Securities 150,680,356 98.76

The accompanying notes are an integral part of these financial statements.

82 | Wells Fargo (Lux) Worldwide Fund

Portfolio of investments as at 30 September 2020 (unaudited)

U.S. SELECT EQUITY FUND Interest Market % of Rate Nominal Value Net % USD USD Assets

Cash at Banks

Time Deposit

Sweden Skandinaviska Enskilda Banken AB (o) 0.01 2,102,810 2,102,810 1.38

Total Cash at Banks 2,102,8101.38

Other Assets and Liabilities, Net (211,827) (0.14)

Total Net Assets 152,571,339 100.00

(o) Overnight deposit.

Key: USD United States Dollar

The securities have been classified based upon country of incorporation/domiciliation.

The accompanying notes are an integral part of these financial statements.

Wells Fargo (Lux) Worldwide Fund | 83

Portfolio of investments as at 30 September 2020 (unaudited)

U.S. SHORT-TERM HIGH YIELD BOND FUND Interest Market % of Rate Maturity Nominal Value Net % Date Industry USD USD Assets

Transferable securities and money market instruments admitted to an official stock exchange listing or dealt in on another regulated market

Corporate Bonds and Notes Canada Air Canada 7.75 15/4/2021 Airlines 2,400,000 2,406,000 1.36 Cenovus Energy Incorporated 5.38 15/7/2025 Oil & Gas Services 95,000 91,414 0.05 2,497,414 1.41

France Constellium SE 5.75 15/5/2024 Mining 2,000,000 2,035,000 1.15

Ireland Park Aerospace Holdings Limited 5.25 15/8/2022 Diversified Financial Services 2,480,000 2,489,861 1.41

Netherlands Alcoa Nederland Holding BV 6.75 30/9/2024 Mining 3,175,000 3,274,219 1.85 Fiat Chrysler Automobiles NV 5.25 15/4/2023 Auto Manufacturers 2,500,000 2,625,000 1.48 Sensata Technologies BV 4.88 15/10/2023 Electronics 2,500,000 2,637,500 1.49 Teva Pharmaceutical Finance Netherlands III BV 2.20 21/7/2021 Pharmaceuticals 1,615,000 1,601,272 0.90 Teva Pharmaceutical Finance Netherlands III BV 2.80 21/7/2023 Pharmaceuticals 1,940,000 1,855,125 1.05 11,993,116 6.77

United Kingdom Virgin Media Secured Finance plc 5.50 15/8/2026 Media 3,000,000 3,127,500 1.76

United States Allison Transmission Incorporated 5.00 1/10/2024 Auto Manufacturers 2,335,000 2,358,490 1.33 American Airlines Group Incorporated 5.00 1/6/2022 Airlines 1,370,000 931,600 0.53 Apache Corporation 4.63 15/11/2025 Oil & Gas Services 545,000 519,453 0.29 Aramark Services Incorporated 6.38 1/5/2025 Food Service 2,420,000 2,520,853 1.42 B&G Foods Incorporated 5.25 1/4/2025 Food 2,000,000 2,055,000 1.16 Blue Cube Spinco LLC 10.00 15/10/2025 Chemicals 3,050,000 3,225,375 1.82 Buckeye Partners LP 4.13 1/3/2025 Pipelines 315,000 300,825 0.17 Buckeye Partners LP 4.15 1/7/2023 Pipelines 2,000,000 1,974,580 1.11 Cardtronics Incorporated 5.50 1/5/2025 Commercial Services 2,500,000 2,500,000 1.41 CCO Holdings LLC 5.13 1/5/2027 Media 3,250,000 3,419,715 1.93 Centene Corporation 4.75 15/1/2025 Healthcare – Services 815,000 837,657 0.47 CenturyLink Incorporated 6.75 1/12/2023 Telecommunications 2,370,000 2,598,112 1.47 Charles River Laboratories International Incorporated 5.50 1/4/2026 Healthcare – Services 760,000 799,900 0.45 Chemours Company 6.63 15/5/2023 Chemicals 605,000 612,257 0.35 CIT Group Incorporated 5.00 15/8/2022 Banks 2,220,000 2,289,375 1.29 Commercial Metals Company 4.88 15/5/2023 Iron/Steel 3,250,000 3,380,000 1.91 CommScope Incorporated 5.50 1/3/2024 Telecommunications 2,620,000 2,692,233 1.52 CoreCivic Incorporated 4.63 1/5/2023 REIT 2,510,000 2,384,500 1.35 Covanta Holding Corporation 5.88 1/7/2025 Environmental Control 502,000 518,942 0.29 Crestwood Midstream Partners LP 6.25 1/4/2023 Pipelines 2,270,000 2,219,175 1.25 Crown Americas LLC 4.75 1/2/2026 Packaging & Containers 3,000,000 3,112,500 1.76 DAE Funding LLC 5.25 15/11/2021 Trucking & Leasing 2,185,000 2,206,850 1.25 DAE Funding LLC 5.75 15/11/2023 Trucking & Leasing 1,435,000 1,449,350 0.82 Dell International LLC 7.13 15/6/2024 Computers 645,000 670,993 0.38 Delta Air Lines Incorporated 4.50 20/10/2025 Airlines 1,530,000 1,570,163 0.89 Delta Air Lines Incorporated 7.00 1/5/2025 Airlines 2,000,000 2,195,640 1.24 Encompass Health Corporation 5.13 15/3/2023 Healthcare – Services 2,095,000 2,105,475 1.19 EnLink Midstream Partners LP 4.15 1/6/2025 Pipelines 3,810,000 3,280,524 1.85

The accompanying notes are an integral part of these financial statements.

84 | Wells Fargo (Lux) Worldwide Fund

Portfolio of investments as at 30 September 2020 (unaudited)

U.S. SHORT-TERM HIGH YIELD BOND FUND Interest Market % of Rate Maturity Nominal Value Net % Date Industry USD USD Assets

Transferable securities and money market instruments admitted to an official stock exchange listing or dealt in on another regulated market

Corporate Bonds and Notes (continued) United States (continued) Enviva Partners LP 6.50 15/1/2026 Energy-Alternate Sources 1,200,000 1,264,500 0.71 EQT Corporation 7.88 1/2/2025 Oil & Gas Services 565,000 626,274 0.35 Ford Motor Company 8.50 21/4/2023 Auto Manufacturers 2,950,000 3,215,500 1.81 Fortress Transportation & Infrastructure Investors LLC 6.75 15/3/2022 Trucking & Leasing 3,635,000 3,580,475 2.02 Gap Incorporated 8.63 15/5/2025 Retail 1,080,000 1,182,600 0.67 Genworth Mortgage Holdings Incorporated 6.50 15/8/2025 Diversified Financial Services 120,000 125,364 0.07 Goodyear Tire & Rubber Company 5.13 15/11/2023 Auto Parts & Equipment 1,965,000 1,960,087 1.11 Gray Television Incorporated 5.13 15/10/2024 Media 700,000 714,000 0.40 Great Lakes Dredge & Dock Corporation 8.00 15/5/2022 Engineering & Construction 2,345,000 2,418,281 1.36 Hologic Incorporated 4.38 15/10/2025 Healthcare – Products 210,000 214,725 0.12 KB Home 7.63 15/5/2023 Home Builders 1,500,000 1,646,250 0.93 L Brands Incorporated 5.63 15/2/2022 Retail 1,000,000 1,041,000 0.59 L Brands Incorporated 5.63 15/10/2023 Retail 320,000 334,400 0.19 L Brands Incorporated 9.38 1/7/2025 Retail 1,685,000 1,933,538 1.09 Ladder Capital Finance Holdings LLLP 5.25 15/3/2022 REIT 2,586,000 2,535,056 1.43 Levi Strauss & Company 5.00 1/5/2025 Apparel 2,770,000 2,834,056 1.60 Live Nation Entertainment Incorporated 4.88 1/11/2024 Entertainment 2,000,000 1,935,000 1.09 LPL Holdings Incorporated 5.75 15/9/2025 Diversified Financial Services 2,700,000 2,797,700 1.58 Macy’s Retail Holdings LLC 3.63 1/6/2024 Retail 1,155,000 832,928 0.47 Macy’s Retail Holdings LLC 4.38 1/9/2023 Retail 3,036,000 2,337,720 1.32 Magellan Health Incorporated 4.90 22/9/2024 Healthcare – Services 1,160,000 1,193,884 0.67 MEDNAX Incorporated 5.25 1/12/2023 Healthcare – Services 2,400,000 2,422,872 1.37 MGM Resorts International 7.75 15/3/2022 Lodging 1,250,000 1,317,563 0.74 Mileage Plus Holdings LLC 6.50 20/6/2027 Airlines 2,650,000 2,759,313 1.56 Molina Healthcare Incorporated 4.88 15/6/2025 Healthcare – Services 1,400,000 1,428,000 0.81 Navient Corporation 6.63 26/7/2021 Diversified Financial Services 850,000 862,750 0.49 NextEra Energy Operating Partners LP 4.25 15/7/2024 Electric 3,025,000 3,154,168 1.78 Nielsen Finance LLC 5.00 15/4/2022 Commercial Services 1,064,000 1,066,660 0.60 Nordstrom Incorporated 8.75 15/5/2025 Retail 2,940,000 3,221,580 1.82 NortonLifeLock Incorporated 5.00 15/4/2025 Internet 2,115,000 2,164,554 1.22 Occidental Petroleum Corporation 1.73 15/8/2022 Oil & Gas Services 1,430,000 1,304,875 0.74 Occidental Petroleum Corporation 8.00 15/7/2025 Oil & Gas Services 1,270,000 1,277,912 0.72 OneMain Finance Corporation 6.13 15/3/2024 Diversified Financial Services 1,245,000 1,304,138 0.74 OneMain Finance Corporation 7.75 1/10/2021 Diversified Financial Services 2,100,000 2,196,443 1.24 Penske Automotive Group Incorporated 3.50 1/9/2025 Retail 100,000 99,126 0.06 Plastipak Holdings Incorporated 6.25 15/10/2025 Packaging & Containers 1,140,000 1,140,000 0.64 QVC Incorporated 4.38 15/3/2023 Retail 1,570,000 1,632,203 0.92 QVC Incorporated 4.45 15/2/2025 Retail 1,000,000 1,027,500 0.58 RBS Global Incorporated 4.88 15/12/2025 Machinery – Diversified 2,433,000 2,466,454 1.39 Rockies Express Pipeline LLC 3.60 15/5/2025 Pipelines 1,740,000 1,705,548 0.96 Royal Caribbean Cruises Limited 9.13 15/6/2023 Leisure Time 1,180,000 1,250,800 0.71 Sealed Air Corporation 5.13 1/12/2024 Packaging & Containers 295,000 319,522 0.18 Service Properties Trust 4.35 1/10/2024 REIT 2,500,000 2,262,050 1.28 Service Properties Trust 7.50 15/9/2025 REIT 1,320,000 1,403,975 0.79 Sirius XM Radio Incorporated 3.88 1/8/2022 Media 3,450,000 3,486,656 1.97 Sprint Corporation 7.88 15/9/2023 Telecommunications 3,000,000 3,437,250 1.94 Starwood Property Trust Incorporated 3.63 1/2/2021 REIT 617,000 616,568 0.35 Starwood Property Trust Incorporated 5.00 15/12/2021 REIT 1,863,000 1,843,494 1.04 Suburban Propane Partners LP 5.50 1/6/2024 Retail 2,060,000 2,072,916 1.17 Tallgrass Energy Partners LP 4.75 1/10/2023 Pipelines 1,900,000 1,800,250 1.02

The accompanying notes are an integral part of these financial statements.

Wells Fargo (Lux) Worldwide Fund | 85

Portfolio of investments as at 30 September 2020 (unaudited)

U.S. SHORT-TERM HIGH YIELD BOND FUND Interest Market % of Rate Maturity Nominal Value Net % Date Industry USD USD Assets

Transferable securities and money market instruments admitted to an official stock exchange listing or dealt in on another regulated market

Corporate Bonds and Notes (continued)

United States (continued) Tallgrass Energy Partners LP 7.50 1/10/2025 Pipelines 800,000 0.45 803,240 Targa Resources Partners LP 4.2515/11/2023 Pipelines 1,620,000 1,603,800 0.91 Tenet Healthcare Corporation 4.6315/7/2024 Healthcare – Services 2,500,000 1.412,506,250 TerraForm Power Operating LLC 4.2531/1/2023 Energy-Alternate Sources 3,380,000 1.963,464,094 TriMas Corporation 4.8815/10/2025 Packaging & Containers 570,000 0.33 577,125 USA Compression Partners LP 6.881/9/2027 Oil & Gas Services 1,885,000 1.051,869,204 Electrical Components & WESCO Distribution Incorporated 7.13 15/6/2025Equipment 370,000 403,041 0.23 Western Midstream Operating LP 3.95 1/6/2025Pipelines 1,750,000 1,644,650 0.93 153,369,419 86.58

Total Corporate Bonds and Notes 175,512,310 99.08

Total Investments in Securities 175,512,310 99.08

Nominal @

Cash at Banks

Time Deposit

United Kingdom Sumitomo Mitsui Banking Corporation (o) 0.01 3,093,497 3,093,497 1.75

Total Cash at Banks 3,093,497 1.75

Other Assets and Liabilities, Net (1,474,086) (0.83)

Total Net Assets 177,131,721 100.00

(o) Overnight deposit.

Key: REIT Estate Real Investment Trust USD United States Dollar

The securities have been classified based upon country of incorporation/domiciliation.

The accompanying notes are an integral part of these financial statements.

86 | Wells Fargo (Lux) Worldwide Fund

Portfolio of investments as at 30 September 2020 (unaudited)

U.S. SMALL CAP VALUE FUND Market % of Value Net Industry Shares USD Assets

Transferable securities and money market instruments admitted to an official stock exchange listing or dealt in on another regulated market

Common Shares Puerto Rico OFG Bancorp Banks 9,049 112,750 0.75

United States ABM Industries Incorporated Commercial Services 4,080 149,573 1.00 AGNC Investment Corporation REIT 11,240 156,348 1.04 Agree Realty Corporation REIT 1,790 113,916 0.76 Alaska Air Group Incorporated Airlines 4,604 168,645 1.12 American Campus Communities Incorporated REIT 3,209 112,058 0.75 American Eagle Outfitters Incorporated Retail 13,311 197,136 1.31 American Equity Investment Life Holding Company Insurance 6,953 152,896 1.02 American Software Incorporated Software 6,172 86,655 0.58 American Woodmark Corporation Building Materials 1,993 156,530 1.04 Ameris Bancorp Banks 6,378 145,291 0.97 AMN Healthcare Services Incorporated Commercial Services 2,713 158,602 1.06 AngioDynamics Incorporated Healthcare – Products 5,124 61,795 0.41 Annaly Capital Management Incorporated REIT 20,967 149,285 0.99 ArcBest Corporation Transportation 4,639 144,087 0.96 Armada Hoffler Properties Incorporated REIT 9,836 91,081 0.61 Artesian Resources Corporation Water 1,514 52,188 0.35 Atkore International Group Incorporated Electronics 3,616 82,192 0.55 Atlantic Union Bankshares Corporation Banks 5,481 117,129 0.78 Axos Financial Incorporated Savings & Loans 6,045 140,909 0.94 Banc of California Incorporated Savings & Loans 6,529 66,073 0.44 Banner Corporation Banks 3,455 111,458 0.74 Beazer Homes USA Incorporated Home Builders 5,401 71,293 0.47 Big Lots Incorporated Retail 3,689 164,529 1.10 BMC Stock Holdings Incorporated Retail 3,713 159,028 1.06 CAI International Incorporated Commercial Services 3,556 97,897 0.65 Capstead Mortgage Corporation REIT 25,467 143,125 0.95 Carter’s Incorporated Apparel 1,850 160,173 1.07 CBIZ Incorporated Commercial Services 3,769 86,197 0.57 Central Garden & Pet Company Household Products/Wares 1,092 43,604 0.29 Cirrus Logic Incorporated Semiconductors 1,003 67,652 0.45 Collectors Universe Incorporated Commercial Services 1,901 94,080 0.63 Columbus McKinnon Corporation Machinery – Diversified 2,751 91,058 0.61 Comfort Systems USA Incorporated Engineering & Construction 2,011 103,587 0.69 Computer Programs & Systems Incorporated Software 1,760 48,594 0.32 Conduent Incorporated Computers 20,919 66,522 0.44 CSW Industrials Incorporated Machinery – Diversified 938 72,460 0.48 Customers Bancorp Incorporated Banks 7,733 86,610 0.58 Dana Incorporated Auto Parts & Equipment 14,407 177,494 1.18 Del Taco Restaurants Incorporated Retail 8,896 72,947 0.49 Denny’s Corporation Retail 11,279 112,790 0.75 Diamondback Energy Incorporated Oil & Gas Services 2,626 79,095 0.53 Dick’s Sporting Goods Incorporated Retail 3,247 187,936 1.25 Dine Brands Global Incorporated Retail 2,169 118,406 0.79 Diodes Incorporated Semiconductors 1,152 65,030 0.43 Ducommun Incorporated Aerospace/Defense 3,995 131,515 0.88 Eagle Materials Incorporated Building Materials 1,926 166,252 1.11 Encore Wire Corporation Electrical Components & Equipment 2,360 109,551 0.73 Ennis Incorporated Commercial Services 5,637 98,309 0.65

The accompanying notes are an integral part of these financial statements.

Wells Fargo (Lux) Worldwide Fund | 87

Portfolio of investments as at 30 September 2020 (unaudited)

U.S. SMALL CAP VALUE FUND Market % of Value Net Industry Shares USD Assets

Transferable securities and money market instruments admitted to an official stock exchange listing or dealt in on another regulated market

Common Shares (continued) United States (continued) Ensign Group Incorporated Healthcare – Services 1,962 111,952 0.75 ePlus Incorporated Internet 1,270 92,964 0.62 FB Financial Corporation Banks 4,879 122,560 0.82 FBL Financial Group Incorporated Insurance 2,085 100,497 0.67 Federal Signal Corporation Miscellaneous Manufacturers 3,182 93,073 0.62 First Foundation Incorporated Banks 8,781 114,768 0.76 First Interstate BancSystem Incorporated Banks 4,036 128,547 0.86 Five Prime Therapeutics Incorporated Biotechnology 2,664 12,521 0.08 FormFactor Incorporated Semiconductors 2,461 61,353 0.41 Global Medical REIT Incorporated REIT 8,550 115,425 0.77 GoPro Incorporated Electronics 15,901 72,032 0.48 Great Southern Bancorp Incorporated Banks 3,154 114,238 0.76 Hackett Group Incorporated Commercial Services 3,932 43,960 0.29 Hamilton Beach Brands Holding Company Home Furnishings 1,637 31,840 0.21 Hawkins Incorporated Chemicals 2,243 103,402 0.69 Healthcare Services Group Incorporated Food Service 6,184 133,142 0.89 Helen of Troy Limited Household Products/Wares 313 60,572 0.40 Helmerich & Payne Incorporated Oil & Gas Services 8,673 127,059 0.85 Heritage Financial Corporation Banks 6,770 124,500 0.83 Herman Miller Incorporated Office Furnishings 5,308 160,089 1.07 Hillenbrand Incorporated Miscellaneous Manufacturers 5,348 151,669 1.01 HomeStreet Incorporated Banks 5,042 129,882 0.86 Hooker Furniture Corporation Home Furnishings 6,848 176,884 1.18 Hostess Brands Incorporated Food 2,909 35,868 0.24 Ichor Holdings Limited Machinery – Diversified 2,430 52,415 0.35 ICU Medical Incorporated Healthcare – Products 481 87,908 0.59 Independence Realty Trust Incorporated REIT 10,577 122,587 0.82 Independent Bank Corporation Banks 5,521 69,399 0.46 Ingevity Corporation Chemicals 1,723 85,185 0.57 Ingles Markets Incorporated Food 1,817 69,119 0.46 Insight Enterprises Incorporated Computers 2,666 150,842 1.00 Investors Real Estate Trust REIT 1,179 76,835 0.51 iRobot Corporation Home Furnishings 1,414 107,323 0.71 Johnson Outdoors Incorporated Leisure Time 1,205 98,677 0.66 Kadant Incorporated Machinery – Diversified 1,259 138,012 0.92 Kaiser Aluminum Corporation Mining 2,396 128,402 0.85 Kelly Services Incorporated Commercial Services 6,862 116,928 0.78 Korn Ferry Commercial Services 2,669 77,401 0.52 Lakeland Industries Incorporated Apparel 5,841 115,652 0.77 Lexington Realty Trust REIT 7,193 75,167 0.50 LHC Group Incorporated Healthcare – Services 310 65,894 0.44 Ligand Pharmaceuticals Incorporated Biotechnology 364 34,696 0.23 Lydall Incorporated Miscellaneous Manufacturers 2,786 46,080 0.31 Malibu Boats Incorporated Leisure Time 1,576 78,107 0.52 Merit Medical Systems Incorporated Healthcare – Products 2,245 97,657 0.65 Methode Electronics Incorporated Auto Parts & Equipment 3,860 110,010 0.73 Midland States Bancorp Incorporated Banks 5,715 73,438 0.49 Miller Industries Incorporated Auto Parts & Equipment 4,427 135,333 0.90 Minerals Technologies Incorporated Chemicals 2,964 151,460 1.01 Monmouth Real Estate Investment Corporation REIT 5,583 77,325 0.51 Mueller Water Products Incorporated Machinery – Diversified 13,611 141,418 0.94

The accompanying notes are an integral part of these financial statements.

88 | Wells Fargo (Lux) Worldwide Fund

Portfolio of investments as at 30 September 2020 (unaudited)

U.S. SMALL CAP VALUE FUND Market % of Value Net Industry Shares USD Assets

Transferable securities and money market instruments admitted to an official stock exchange listing or dealt in on another regulated market

Common Shares (continued) United States (continued) NCR Corporation Computers 2,800 61,992 0.41 Neenah Incorporated Forest Products & Paper 1,805 67,633 0.45 NETGEAR Incorporated Telecommunications 3,869 119,243 0.79 Northwest Pipe Company Metal Fabricate/Hardware 2,089 55,275 0.37 Norwegian Cruise Line Holdings Limited Leisure Time 6,683 114,346 0.76 OceanFirst Financial Corporation Savings & Loans 7,589 103,893 0.69 One Liberty Properties Incorporated REIT 5,349 87,510 0.58 Onto Innovation Incorporated Semiconductors 1,841 54,825 0.36 Option Care Health Incorporated Pharmaceuticals 5,639 75,393 0.50 Orrstown Financial Services Incorporated Banks 2,586 33,101 0.22 Outfront Media Incorporated REIT 7,696 111,977 0.75 P H Glatfelter Company Forest Products & Paper 1,627 22,404 0.15 Pacific Premier Bancorp Incorporated Savings & Loans 2,243 45,174 0.30 Patrick Industries Incorporated Building Materials 1,978 113,775 0.76 Patterson-UTI Energy Incorporated Oil & Gas Services 33,270 94,820 0.63 PC Connection Incorporated Retail 2,114 86,801 0.58 Piper Sandler Companies Diversified Financial Services 2,497 182,281 1.21 PotlatchDeltic Corporation REIT 3,617 152,276 1.01 Prestige Consumer Healthcare Incorporated Pharmaceuticals 1,578 57,471 0.38 Radiant Logistics Incorporated Transportation 15,297 78,627 0.52 Regal Beloit Corporation Hand/Machine Tools 1,156 108,514 0.72 Rexnord Corporation Metal Fabricate/Hardware 3,155 94,145 0.63 Rocky Brands Incorporated Apparel 5,435 134,951 0.90 Schnitzer Steel Industries Incorporated Iron/Steel 9,500 182,685 1.22 Schweitzer-Mauduit International Incorporated Forest Products & Paper 3,296 100,165 0.67 Sculptor Capital Management Incorporated Diversified Financial Services 1,868 21,930 0.15 Shoe Carnival Incorporated Retail 4,737 159,068 1.06 Shyft Group Incorporated Auto Parts & Equipment 4,889 92,304 0.61 Silgan Holdings Incorporated Packaging & Containers 1,604 58,979 0.39 SkyWest Incorporated Airlines 1,113 33,234 0.22 Southwestern Energy Company Oil & Gas Services 36,459 85,679 0.57 STAG Industrial Incorporated REIT 4,306 131,290 0.87 Stamps.com Incorporated Internet 333 80,236 0.53 State Auto Financial Corporation Insurance 2,727 37,524 0.25 Stepan Company Chemicals 944 102,896 0.69 Stericycle Incorporated Environmental Control 2,255 142,200 0.95 Synovus Financial Corporation Banks 5,768 122,109 0.81 TTEC Holdings Incorporated Computers 1,470 80,189 0.53 UFP Technologies Incorporated Packaging & Containers 1,514 62,710 0.42 Umpqua Holdings Corporation Banks 8,075 85,757 0.57 Unisys Corporation Computers 4,022 42,915 0.29 United Fire Group Incorporated Insurance 1,321 26,843 0.18 Univest Financial Corporation Banks 6,397 91,925 0.61 W&T Offshore Incorporated Oil & Gas Services 42,165 75,897 0.51 Walker & Dunlop Incorporated Banks 3,048 161,544 1.08 Western Alliance Bancorp Banks 3,727 117,848 0.78 Wyndham Hotels & Resorts Incorporated Lodging 3,380 170,690 1.14 14,814,692 98.66 Total Common Shares 14,927,442 99.41 Total Investments in Securities 14,927,442 99.41

The accompanying notes are an integral part of these financial statements.

Wells Fargo (Lux) Worldwide Fund | 89

Portfolio of investments as at 30 September 2020 (unaudited)

U.S. SMALL CAP VALUE FUND Interest Market % of Rate Value Net % Nominal @ USD Assets

Cash at Banks

Time Deposits

Cayman Islands BBH Grand Cayman (o) (0.69) 1 EUR 1 0.00 BBH Grand Cayman (o) 0.01 1 GBP 1 0.00 2 0.00

United States Citibank (o) 0.01 124,312 USD 124,312 0.83 Total Time Deposits 124,314 0.83 Total Cash at Banks 124,314 0.83

Other Assets and Liabilities, Net (36,749) (0.24)

Total Net Assets 15,015,007 100.00

@ Nominal amount is denominated in currency indicated. (o) Overnight deposit.

Key: EUR Euro GBP BritishPound REIT Real Estate InvestmentTrust USD United States Dollar

The securities have been classified based upon country of incorporation/domiciliation.

The accompanying notes are an integral part of these financial statements.

90 | Wells Fargo (Lux) Worldwide Fund

Portfolio of investments as at 30 September 2020 (unaudited)

USD GOVERNMENT MONEY MARKET FUND Interest Market % of Rate Maturity Nominal Value Net % Date USD USD Assets

Transferable securities and money market instruments admitted to an official stock exchange listing or dealt in on another regulated market

Government Bonds United States United States Cash Management Bill * 0.10 12/1/2021 10,000,000 9,997,067 1.03 United States Cash Management Bill * 0.10 2/3/2021 5,000,000 4,997,889 0.51 United States Cash Management Bill * 0.11 5/1/2021 5,000,000 4,998,480 0.51 United States Cash Management Bill * 0.11 26/1/2021 10,000,000 9,996,328 1.03 United States Cash Management Bill * 0.11 2/2/2021 5,000,000 4,998,054 0.51 United States Cash Management Bill * 0.11 23/2/2021 5,000,000 4,997,724 0.51 United States Cash Management Bill * 0.12 19/1/2021 5,000,000 4,998,159 0.51 United States Cash Management Bill * 0.12 9/2/2021 5,000,000 4,997,817 0.51 United States Cash Management Bill * 0.13 15/12/2020 10,000,000 9,997,286 1.03 United States Cash Management Bill * 0.13 22/12/2020 10,000,000 9,997,010 1.03 United States Cash Management Bill * 0.13 29/12/2020 10,000,000 9,996,885 1.03 United States Cash Management Bill * 0.14 1/12/2020 10,000,000 9,997,696 1.03 United States Treasury Bill * 0.10 27/10/2020 20,000,000 19,998,501 2.05 United States Treasury Bill * 0.10 24/11/2020 15,000,000 14,997,836 1.54 United States Treasury Bill * 0.11 13/10/2020 28,000,000 27,998,973 2.87 United States Treasury Bill * 0.11 10/11/2020 5,000,000 4,999,386 0.51 United States Treasury Bill * 0.11 24/12/2020 15,000,000 14,996,313 1.54 United States Treasury Bill * 0.11 4/2/2021 5,000,000 4,998,162 0.51 United States Treasury Bill * 0.11 25/3/2021 5,000,000 4,997,326 0.51 United States Treasury Bill * 0.11 1/4/2021 10,000,000 9,994,540 1.03 United States Treasury Bill * 0.12 20/10/2020 20,000,000 19,998,786 2.05 United States Treasury Bill * 0.12 5/11/2020 20,000,000 19,997,703 2.05 United States Treasury Bill * 0.12 19/11/2020 15,000,000 14,997,468 1.54 United States Treasury Bill * 0.12 27/11/2020 20,000,000 19,996,101 2.05 United States Treasury Bill * 0.12 21/1/2021 10,000,000 9,996,414 1.03 United States Treasury Bill * 0.12 11/2/2021 5,000,000 4,997,783 0.51 United States Treasury Bill * 0.12 18/2/2021 5,000,000 4,997,706 0.51 United States Treasury Bill * 0.12 25/2/2021 5,000,000 4,997,550 0.51 United States Treasury Bill * 0.12 4/3/2021 5,000,000 4,997,476 0.51 United States Treasury Bill * 0.12 18/3/2021 5,000,000 4,997,177 0.51 United States Treasury Bill * 0.13 1/10/2020 15,000,000 15,000,000 1.54 United States Treasury Bill * 0.13 29/10/2020 18,000,000 17,998,196 1.85 United States Treasury Bill * 0.13 3/11/2020 15,000,000 14,998,281 1.54 United States Treasury Bill * 0.13 12/11/2020 15,000,000 14,997,664 1.54 United States Treasury Bill * 0.13 3/12/2020 10,000,000 9,997,655 1.03 United States Treasury Bill * 0.13 10/12/2020 20,000,000 19,994,896 2.05 United States Treasury Bill * 0.13 17/12/2020 20,000,000 19,994,407 2.05 United States Treasury Bill * 0.13 31/12/2020 15,000,000 14,995,185 1.54 United States Treasury Bill * 0.13 11/3/2021 5,000,000 4,997,205 0.51 United States Treasury Bill * 0.14 22/10/2020 15,000,000 14,998,741 1.54 United States Treasury Bill * 0.14 28/1/2021 10,000,000 9,995,323 1.03 United States Treasury Bill * 0.15 6/10/2020 14,000,000 13,999,701 1.44 United States Treasury Bill * 0.15 17/11/2020 10,000,000 9,998,042 1.03 United States Treasury Bill * 0.15 7/1/2021 15,000,000 14,993,943 1.54 United States Treasury Bill * 0.16 14/1/2021 5,000,000 4,997,740 0.51 United States Treasury Bill * 0.18 8/10/2020 20,000,000 19,999,314 2.05 United States Treasury Bill * 0.19 15/10/2020 30,000,000 29,997,811 3.08 United States Treasury Floating Rate Note ± 0.15 31/10/2020 30,000,000 29,996,596 3.08 United States Treasury Floating Rate Note ± 0.22 31/1/2021 20,000,000 20,000,824 2.05 United States Treasury Floating Rate Note ± 0.24 30/4/2021 35,000,000 35,021,929 3.60

The accompanying notes are an integral part of these financial statements.

Wells Fargo (Lux) Worldwide Fund | 91

Portfolio of investments as at 30 September 2020 (unaudited)

USD GOVERNMENT MONEY MARKET FUND Interest Market % of Rate Maturity Nominal Value Net % Date USD USD Assets

Transferable securities and money market instruments admitted to an official stock exchange listing or dealt in on another regulated market

Government Bonds (continued) United States (continued) United States Treasury Note 2.00 30/11/2020 5,000,000 5,002,821 0.51 United States Treasury Note 2.13 31/1/2021 10,000,000 10,037,066 1.03 United States Treasury Note 2.25 31/3/2021 5,000,000 5,043,025 0.52 United States Treasury Note 3.63 15/2/2021 5,000,000 5,038,763 0.52 Total Government Bonds 665,020,724 68.25 Total Transferable Securities and Money Market Instruments 665,020,724 68.25 Total Investments in Securities 665,020,724 68.25

Reverse Repurchase Agreements Bank of America Securities, dated 29/9/2020, maturity value $60,000,100 (1) 0.06 1/10/2020 60,000,000 60,000,000 6.16 Barclays Bank plc, dated 29/9/2020, maturity value $40,000,067 (2) 0.06 1/10/2020 40,000,000 40,000,000 4.10 Bank of Montreal, dated 29/9/2020, maturity value $40,000,067 (3) 0.06 1/10/2020 40,000,000 40,000,000 4.10 Canadian Imperial Bank, dated 29/9/2020, maturity value $40,000,067 (4) 0.06 1/10/2020 40,000,000 40,000,000 4.10 Citigroup Global Markets, dated 29/9/2020, maturity value $40,000,067 (5) 0.06 1/10/2020 40,000,000 40,000,000 4.11 Credit Agricole, dated 29/9/2020, maturity value $40,000,067 (6) 0.06 1/10/2020 40,000,000 40,000,000 4.11 Morgan Stanley & Company, dated 29/9/2020, maturity value $40,000,067 (7) 0.06 1/10/2020 40,000,000 40,000,000 4.11 Total Reverse Repurchase Agreements 300,000,000 30.79

Cash at Banks Current Accounts at Bank 24,112,313 2.47 Total Cash at Banks 24,112,313 2.47

Other Assets and Liabilities, Net (14,770,200) (1.51) Total Net Assets 974,362,837 100.00

* The interest rate represents the yield to maturity at time of purchase. ± Variable rate investment. The rate shown in the rate in effect at period end. (1) Collateralised by U.S. Treasury Securities, 0.125% to 2.125%, 15/4/2021 to 15/1/2030, fair value including interest is $61,200,017. (2) Collateralised by U.S. Treasury Securities, 0.125% to 3.875%, 15/4/2021 to 15/2/2046, fair value including interest is $40,800,084. (3) Collateralised by U.S. Treasury Securities, 0.00% to 8.125%, 6/10/2020 to 15/2/2050, fair value including interest is $40,800,022. (4) Collateralised by U.S. Treasury Securities, 0.00% to 3.875%, 15/3/2022 to 15/11/2049, fair value including interest is $40,800,087. (5) Collateralised by U.S. Treasury Securities, 0.125% to 6.25%, 15/4/2029 to 15/5/2047, fair value including interest is $40,800,079. (6) Collateralised by U.S. Treasury Securities, 0.25% to 2.875%, 31/3/2023 to 15/5/2028, fair value including interest is $40,800,086. (7) Collateralised by U.S. Treasury Securities, 0.00% to 6.875%, 6/10/2020 to 15/11/2049, fair value including interest is $40,800,008.

Key: USD United States Dollar

The securities have been classified based upon country of incorporation/domiciliation.

The accompanying notes are an integral part of these financial statements.

92 | Wells Fargo (Lux) Worldwide Fund

Portfolio of investments as at 30 September 2020 (unaudited)

USD INVESTMENT GRADE CREDIT FUND Interest Market % of Rate Maturity Nominal Value Net % Date Industry USD USD Assets

Transferable securities and money market instruments admitted to an official stock exchange listing or dealt in on another regulated market

Corporate Bonds and Notes Australia Macquarie Group Limited ± Banks3.19 28/11/2023 4,700,000 1.544,914,494 National Australia Bank Limited 2.33 21/8/2030Banks 1,855,000 0.581,833,616 Scentre Group Trust 2 ± REIT 5.13 24/9/2080 1,760,000 0.541,727,876 Transurban Finance Company Proprietary Limited Commercial Services 2.45 1,230,00016/3/2031 0.391,254,733 9,730,719 3.05

Canada Air Canada 2017-1 Class AA Pass-Through Trust 3.30 15/1/2030 2,190,144 2,081,401 Airlines0.65

China Tencent Holdings Limited 3.60 19/1/2028 Internet 2,200,000 2,420,879 0.76

France Credit Agricole SA 3.25 14/1/2030 Banks 1,625,000 1,744,246 0.55

Ireland AerCap Ireland Capital DAC 4.50 15/9/2023Diversified Financial Services 1,235,000 0.401,272,342 AerCap Ireland Capital DAC 6.50 15/7/2025Diversified Financial Services 830,000 0.28 895,868 GE Capital International Funding Company Unlimited Company 4.42 15/11/2035Diversified Financial Services 2,130,000 0.702,251,072 4,419,282 1.38

Japan Mitsubishi UFJ Financial Group Incorporated 2.80 Banks 18/7/20242,000,000 0.672,134,980 Nissan Motor Company Limited 3.52 17/9/2025Auto Manufacturers 1,620,000 0.511,636,995 Nissan Motor Company Limited 4.35 17/9/2027Auto Manufacturers 1,620,000 0.511,626,393 Sumitomo Mitsui Financial Group Incorporated Banks 2.78 12/7/2022765,000 0.25 794,953 Sumitomo Mitsui Financial Group Incorporated Banks 2.85 11/1/2022700,000 0.23 720,853 Sumitomo Mitsui Financial Group Incorporated 3.10 Banks 17/1/20232,300,000 0.762,428,139 9,342,313 2.93

Luxembourg SES SA 3.60 4/4/2023 Telecommunications 1,312,000 1,344,813 0.42

Netherlands ING Groep NV 1.37 29/3/2022Banks 1,230,000 0.391,241,948 NXP BV 3.88 18/6/2026Semiconductors 1,680,000 0.591,882,140 NXP BV 4.30 18/6/2029Semiconductors 1,140,000 0.411,314,663 Siemens Financieringsmaatschappij NV 2.35 15/10/2026Miscellaneous Manufacturers 1,500,000 0.511,608,956 6,047,707 1.90

Norway Equinor ASA 2.38 22/5/2030 Oil & Gas Services 1,280,000 1,352,693 0.42

Saudi Arabia Saudi Arabian Oil Company 4.38 16/4/2049 Oil & Gas Services 1,130,000 1,358,509 0.43

The accompanying notes are an integral part of these financial statements.

Wells Fargo (Lux) Worldwide Fund | 93

Portfolio of investments as at 30 September 2020 (unaudited)

USD INVESTMENT GRADE CREDIT FUND Interest Market % of Rate Maturity Nominal Value Net % Date Industry USD USD Assets

Transferable securities and money market instruments admitted to an official stock exchange listing or dealt in on another regulated market

Corporate Bonds and Notes (continued) Singapore Flex Limited 5.00 15/2/2023 Electronics 340,000 370,024 0.12

Spain Banco Santander SA 3.49 28/5/2030 Banks 2,400,000 2,610,634 0.82

Switzerland Credit Suisse AG 3.63 9/9/2024 Banks 3,270,000 3,619,333 1.13

United Kingdom AstraZeneca plc 1.38 6/8/2030 Pharmaceuticals 2,470,000 2,402,610 0.75 AstraZeneca plc 2.13 6/8/2050 Pharmaceuticals 805,000 729,625 0.23 AXIS Specialty Finance plc 4.00 6/12/2027 Insurance 1,280,000 1,400,402 0.44 BP Capital Markets plc ^± 4.88 22/3/2030 Oil & Gas Services 760,000 813,200 0.26 HSBC Holdings plc 4.30 8/3/2026 Banks 2,365,000 2,667,998 0.84 Natwest Group plc 3.88 12/9/2023 Banks 3,190,000 3,425,933 1.07 Reckitt Benckiser Treasury Services plc 2.75 26/6/2024 Household Products/Wares 2,520,000 2,682,618 0.84 Royalty Pharma plc 1.75 2/9/2027 Biotechnology 1,450,000 1,448,739 0.45 Royalty Pharma plc 3.55 2/9/2050 Biotechnology 1,855,000 1,790,060 0.56 Vodafone Group plc 4.38 30/5/2028 Telecommunications 2,980,000 3,526,669 1.11 WPP Finance 2010 3.75 19/9/2024 Advertising 1,815,000 1,992,062 0.62 22,879,916 7.17

United States AbbVie Incorporated 2.95 21/11/2026 Pharmaceuticals 760,000 827,890 0.26 AbbVie Incorporated 4.25 21/11/2049 Pharmaceuticals 2,225,000 2,628,062 0.82 Aircastle Limited 5.25 11/8/2025 Diversified Financial Services 2,135,000 2,088,152 0.65 Ameren Illinois Company 3.80 15/5/2028 Electric 1,575,000 1,840,131 0.58 American Express Credit Corporation 3.30 3/5/2027 Diversified Financial Services 2,405,000 2,715,068 0.85 American International Group Incorporated 4.25 15/3/2029 Insurance 860,000 1,008,950 0.32 American International Group Incorporated 4.75 1/4/2048 Insurance 920,000 1,125,489 0.35 Anheuser-Busch InBev Finance Incorporated 3.65 1/2/2026 Beverages 1,000,000 1,116,590 0.35 Anheuser-Busch InBev Worldwide Incorporated 4.60 15/4/2048 Beverages 1,655,000 1,969,361 0.62 Anthem Incorporated 3.65 1/12/2027 Healthcare – Services 470,000 535,147 0.17 AT&T Incorporated 3.65 1/6/2051 Telecommunications 5,255,000 5,303,812 1.66 AT&T Incorporated 4.25 1/3/2027 Telecommunications 1,275,000 1,479,656 0.46 Aviation Capital Group LLC 2.88 20/1/2022 Trucking & Leasing 2,250,000 2,232,845 0.70 Aviation Capital Group LLC 5.50 15/12/2024 Trucking & Leasing 2,100,000 2,166,269 0.68 Bank of America Corporation 3.50 19/4/2026 Banks 1,855,000 2,078,775 0.65 Bank of America Corporation ± 3.82 20/1/2028 Banks 2,960,000 3,353,750 1.05 Belrose Funding Trust 2.33 15/8/2030 Insurance 2,040,000 2,014,596 0.63 Berkshire Hathaway Energy Company 3.25 15/4/2028 Electric 155,000 175,652 0.06 Berkshire Hathaway Energy Company 4.25 15/10/2050 Electric 840,000 1,044,913 0.33 BP Capital Markets America Incorporated 2.75 10/5/2023 Oil & Gas Services 920,000 969,834 0.30 Brighthouse Financial Incorporated 4.70 22/6/2047 Insurance 2,475,000 2,366,761 0.74 Broadcom Incorporated 3.15 15/11/2025 Semiconductors 1,015,000 1,094,750 0.34 Broadcom Incorporated 4.15 15/11/2030 Semiconductors 1,900,000 2,133,103 0.67 Machinery – Construction & Caterpillar Incorporated 3.25 9/4/2050 Mining 2,650,000 2,969,058 0.93 Charter Communications Operating LLC 2.80 1/4/2031 Media 1,545,000 1,602,523 0.50 Charter Communications Operating LLC 4.91 23/7/2025 Media 2,450,000 2,831,881 0.89

The accompanying notes are an integral part of these financial statements.

94 | Wells Fargo (Lux) Worldwide Fund

Portfolio of investments as at 30 September 2020 (unaudited)

USD INVESTMENT GRADE CREDIT FUND Interest Market % of Rate Maturity Nominal Value Net % Date Industry USD USD Assets

Transferable securities and money market instruments admitted to an official stock exchange listing or dealt in on another regulated market

Corporate Bonds and Notes (continued) United States (continued) Citigroup Incorporated 2.65 26/10/2020 Banks 250,000 250,402 0.08 Citigroup Incorporated ± 2.67 29/1/2031 Banks 685,000 720,470 0.23 Citigroup Incorporated 2.75 25/4/2022 Banks 790,000 816,363 0.26 Citigroup Incorporated 3.40 1/5/2026 Banks 2,310,000 2,567,497 0.80 Citigroup Incorporated 4.50 14/1/2022 Banks 635,000 667,345 0.21 Coca-Cola Company 2.60 1/6/2050 Beverages 2,205,000 2,252,515 0.71 Comcast Corporation 3.38 15/8/2025 Media 1,740,000 1,939,536 0.61 Comcast Corporation 3.40 1/4/2030 Media 645,000 744,015 0.23 Comcast Corporation 4.70 15/10/2048 Media 1,975,000 2,613,625 0.82 Continental Airlines 2012-2 Class A Pass- Through Trust 4.00 29/10/2024 Airlines 168,627 161,830 0.05 Cox Communications Incorporated 4.60 15/8/2047 Media 485,000 605,184 0.19 CVS Health Corporation 3.70 9/3/2023 Pharmaceuticals 253,000 271,002 0.08 CVS Health Corporation 4.30 25/3/2028 Pharmaceuticals 705,000 824,723 0.26 CVS Health Corporation 5.05 25/3/2048 Pharmaceuticals 2,545,000 3,236,497 1.01 Deere & Company 3.75 15/4/2050 Machinery – Diversified 870,000 1,078,908 0.34 Dell International LLC 4.42 15/6/2021 Computers 52,000 53,228 0.02 Dell International LLC 4.90 1/10/2026 Computers 2,600,000 2,938,387 0.92 Dell International LLC 5.45 15/6/2023 Computers 950,000 1,041,523 0.33 Dell International LLC 6.02 15/6/2026 Computers 2,300,000 2,701,254 0.85 Delta Air Lines Incorporated 4.75 20/10/2028 Airlines 425,000 440,937 0.14 Discovery Communications LLC 5.20 20/9/2047 Media 1,625,000 1,948,145 0.61 Discovery Communications LLC 5.30 15/5/2049 Media 720,000 882,060 0.28 Duke Energy Carolinas LLC 2.45 15/8/2029 Electric 2,315,000 2,504,744 0.79 Duke Energy Progress LLC 3.45 15/3/2029 Electric 1,580,000 1,824,107 0.57 Empower Finance 2020 LP 3.08 17/9/2051 Insurance 1,010,000 1,035,611 0.32 Energy Transfer Operating LP 5.00 15/5/2050 Pipelines 2,210,000 2,028,717 0.64 Energy Transfer Operating LP 6.25 15/4/2049 Pipelines 1,255,000 1,291,447 0.40 Energy Transfer Operating LP 6.50 1/2/2042 Pipelines 2,245,000 2,326,413 0.73 Equifax Incorporated 2.60 1/12/2024 Commercial Services 1,085,000 1,157,981 0.36 Equifax Incorporated 3.30 15/12/2022 Commercial Services 1,160,000 1,216,969 0.38 Exxon Mobil Corporation 3.45 15/4/2051 Oil & Gas Services 3,715,000 4,071,178 1.28 FirstEnergy Corporation 2.25 1/9/2030 Electric 1,635,000 1,597,927 0.50 Fiserv Incorporated 2.75 1/7/2024 Software 1,580,000 1,689,055 0.53 Fiserv Incorporated 3.50 1/7/2029 Software 1,610,000 1,832,394 0.57 Five Corners Funding Trust 4.42 15/11/2023 Insurance 1,260,000 1,399,974 0.44 Flowserve Corporation 3.50 1/10/2030 Machinery – Diversified 670,000 663,903 0.21 Ford Motor Company 9.00 22/4/2025 Auto Manufacturers 1,185,000 1,358,614 0.43 Fox Corporation 4.71 25/1/2029 Media 2,220,000 2,658,690 0.83 General Electric Company 3.63 1/5/2030 Miscellaneous Manufacturers 3,050,000 3,162,988 0.99 General Motors Company 6.13 1/10/2025 Auto Manufacturers 1,810,000 2,102,174 0.66 Goldman Sachs Group Incorporated 2.63 25/4/2021 Banks 1,760,000 1,779,195 0.56 Goldman Sachs Group Incorporated 3.63 22/1/2023 Banks 795,000 849,769 0.27 Goldman Sachs Group Incorporated 3.85 26/1/2027 Banks 2,395,000 2,691,065 0.84 Harley-Davidson Financial Services Incorporated 3.35 8/6/2025 Auto Manufacturers 435,000 454,960 0.14 Home Depot Incorporated 3.35 15/4/2050 Retail 1,550,000 1,786,228 0.56 Huntington Bancshares Incorporated 3.15 14/3/2021 Banks 1,250,000 1,263,384 0.40 Hyundai Capital America 2.38 15/10/2027 Auto Manufacturers 1,365,000 1,364,213 0.43 Intercontinental Exchange Incorporated 3.00 15/6/2050 Diversified Financial Services 800,000 838,762 0.26 Intercontinental Exchange Incorporated 4.25 21/9/2048 Diversified Financial Services 1,605,000 1,987,218 0.62 Jabil Incorporated 3.60 15/1/2030 Electronics 1,260,000 1,340,021 0.42

The accompanying notes are an integral part of these financial statements.

Wells Fargo (Lux) Worldwide Fund | 95

Portfolio of investments as at 30 September 2020 (unaudited)

USD INVESTMENT GRADE CREDIT FUND Interest Market % of Rate Maturity Nominal Value Net % Date Industry USD USD Assets

Transferable securities and money market instruments admitted to an official stock exchange listing or dealt in on another regulated market

Corporate Bonds and Notes (continued) United States (continued) JPMorgan Chase & Company 2.95 1/10/2026 Banks 1,025,000 1,127,697 0.35 JPMorgan Chase & Company ± 3.21 1/4/2023 Banks 1,295,000 1,345,544 0.42 JPMorgan Chase & Company ± 3.78 1/2/2028 Banks 2,670,000 3,018,460 0.95 Keurig Dr Pepper Incorporated 3.80 1/5/2050 Beverages 1,055,000 1,210,956 0.38 Keurig Dr Pepper Incorporated 4.60 25/5/2028 Beverages 2,670,000 3,204,635 1.00 Kinder Morgan Energy Partners LP 5.40 1/9/2044 Pipelines 900,000 1,042,758 0.33 Las Vegas Sands Corporation 3.50 18/8/2026 Lodging 800,000 810,491 0.25 Linde Incorporated 1.10 10/8/2030 Chemicals 2,300,000 2,226,898 0.70 Magellan Health Incorporated 4.90 22/9/2024 Healthcare – Services 1,000,000 1,029,210 0.32 Marathon Petroleum Corporation 3.80 1/4/2028 Oil & Gas Services 1,630,000 1,769,703 0.55 Marathon Petroleum Corporation 4.70 1/5/2025 Oil & Gas Services 1,560,000 1,760,841 0.55 Mars Incorporated 3.95 1/4/2049 Food 2,385,000 2,880,619 0.90 Microchip Technology Incorporated 2.67 1/9/2023 Semiconductors 1,615,000 1,671,827 0.52 Morgan Stanley 3.13 27/7/2026 Banks 1,590,000 1,755,243 0.55 Morgan Stanley 3.63 20/1/2027 Banks 4,545,000 5,134,102 1.61 Morgan Stanley 3.70 23/10/2024 Banks 1,075,000 1,191,477 0.37 Motorola Solutions Incorporated 2.30 15/11/2030 Telecommunications 2,045,000 2,028,615 0.64 Motorola Solutions Incorporated 4.60 23/2/2028 Telecommunications 1,526,000 1,780,812 0.56 MPLX LP 4.00 15/3/2028 Pipelines 1,810,000 1,974,985 0.62 NetApp Incorporated 2.70 22/6/2030 Computers 1,635,000 1,691,755 0.53 Nevada Power Company 2.40 1/5/2030 Electric 1,075,000 1,153,967 0.36 Nutrition & Biosciences Incorporated 1.83 15/10/2027 Chemicals 800,000 803,407 0.25 Nutrition & Biosciences Incorporated 3.47 1/12/2050 Chemicals 1,035,000 1,036,979 0.33 Nuveen LLC 4.00 1/11/2028 Diversified Financial Services 1,605,000 1,905,766 0.60 Oglethorpe Power Corporation 3.75 1/8/2050 Electric 2,065,000 2,052,118 0.64 Omega Healthcare Investors Incorporated 5.25 15/1/2026 REIT 1,500,000 1,638,123 0.51 OneAmerica Financial Partners Incorporated 4.25 15/10/2050 Insurance 480,000 485,834 0.15 Oracle Corporation 3.25 15/11/2027 Software 2,465,000 2,787,134 0.87 PacifiCorporation 3.50 15/6/2029 Electric 1,270,000 1,474,792 0.46 PartnerRe Finance II Incorporated ± 2.57 1/12/2066 Insurance 928,000 759,583 0.24 Peachtree Corners Funding Trust 3.98 15/2/2025 Insurance 1,580,000 1,739,929 0.55 Penske Truck Leasing Company LP 3.45 1/7/2024 Trucking & Leasing 900,000 974,061 0.31 Penske Truck Leasing Company LP 4.25 17/1/2023 Trucking & Leasing 1,305,000 1,404,341 0.44 Qualcomm Incorporated 3.25 20/5/2027 Semiconductors 1,730,000 1,938,697 0.61 Ralph Lauren Corporation 2.95 15/6/2030 Apparel 1,275,000 1,330,289 0.42 Raymond James Financial Incorporated 4.95 15/7/2046 Diversified Financial Services 1,378,000 1,778,528 0.56 Raytheon Technologies Corporation 3.65 16/8/2023 Aerospace/Defense 34,000 36,732 0.01 Raytheon Technologies Corporation 4.13 16/11/2028 Aerospace/Defense 2,995,000 3,544,333 1.11 S&P Global Incorporated 1.25 15/8/2030 Commercial Services 1,115,000 1,096,159 0.34 S&P Global Incorporated 2.30 15/8/2060 Commercial Services 1,040,000 931,334 0.29 Sabine Pass Liquefaction LLC 5.75 15/5/2024 Pipelines 3,685,000 4,171,548 1.31 Sabra Health Care LP 4.80 1/6/2024 REIT 760,000 798,458 0.25 Sammons Financial Group Incorporated 4.45 12/5/2027 Insurance 1,640,000 1,725,011 0.54 Santander Holdings USA Incorporated 4.40 13/7/2027 Banks 1,100,000 1,211,042 0.38 Simon Property Group LP 3.25 13/9/2049 REIT 2,985,000 2,731,260 0.86 Smithfield Foods Incorporated 3.00 15/10/2030 Food 1,360,000 1,373,709 0.43 Sprint Spectrum Company LLC 3.36 20/9/2021 Telecommunications 371,250 375,408 0.12 StanCorp Financial Group Incorporated 5.00 15/8/2022 Insurance 1,624,000 1,707,407 0.54 State Street Corporation 2.40 24/1/2030 Banks 1,565,000 1,704,919 0.53 TJX Companies Incorporated 4.50 15/4/2050 Retail 1,275,000 1,642,363 0.51 T-Mobile USA Incorporated 3.30 15/2/2051 Telecommunications 1,470,000 1,448,905 0.45

The accompanying notes are an integral part of these financial statements.

96 | Wells Fargo (Lux) Worldwide Fund

Portfolio of investments as at 30 September 2020 (unaudited)

USD INVESTMENT GRADE CREDIT FUND Interest Market % of Rate Maturity Nominal Value Net % Date Industry USD USD Assets

Transferable securities and money market instruments admitted to an official stock exchange listing or dealt in on another regulated market

Corporate Bonds and Notes (continued) United States (continued) T-Mobile USA Incorporated 3.50 15/4/2025Telecommunications 900,000 987,498 0.31 T-Mobile USA Incorporated 3.75 15/4/2027 Telecommunications 1,480,000 1,656,919 0.52 Toll Road Investors Partnership II LP (z) 0.00 15/2/2028Diversified Financial Services 2,500,000 1,749,648 0.55 Union Pacific Corporation 3.25 5/2/2050Transportation 1,755,000 1,945,744 0.61 United Airlines 2018-1 Class AA Pass- Through Trust 3.50 1/3/2030Airlines 1,684,793 1,595,500 0.50 UnitedHealth Group Incorporated 2.90 15/5/2050Healthcare – Services 1,315,000 1,370,438 0.43 Unum Group 4.50 15/12/2049Insurance 880,000 851,022 0.27 Verizon Communications Incorporated 4.13 15/8/2046Telecommunications 2,755,000 3,391,738 1.06 ViacomCBS Incorporated 3.70 1/6/2028Media 1,590,000 1,765,472 0.55 Walt Disney Company 3.60 13/1/2051Media 1,005,000 1,131,685 0.35 Western Union Company 4.25 9/6/2023Diversified Financial Services 1,675,000 1,808,270 0.57 WRKCo Incorporated 3.00 15/6/2033Packaging & Containers 1,110,000 1,206,413 0.38 232,585,276 72.89 Total Corporate Bonds and Notes 301,907,745 94.62

Government Bonds Qatar Qatar International Bond 5.10 23/4/2048 1,910,000 2,653,334 0.83

United States United States Treasury Bond 2.00 15/2/2050 4,175,000 4,722,316 1.48 United States Treasury Note 0.25 30/9/2025 1,555,000 1,552,935 0.49 6,275,251 1.97 Total Government Bonds 8,928,585 2.80

Municipal Obligations United States New Jersey Transportation Trust Fund Authority 4.13 15/6/2042 955,000 910,172 0.28 Total Municipal Obligations 910,172 0.28 Total Investments in Securities 311,746,502 97.70

Cash at Banks Time Deposit Netherlands ING Bank NV (o) 0.01 3,900,567 3,900,567 1.22 Total Cash at Banks 3,900,567 1.22

Other Assets and Liabilities, Net 3,441,832 1.08

Total Net Assets 319,088,901 100.00

The accompanying notes are an integral part of these financial statements.

Wells Fargo (Lux) Worldwide Fund | 97

Portfolio of investments as at 30 September 2020 (unaudited)

Key: REIT Real Estate Investment Trust USD United StatesDollar

The securities have been classified based upon country of incorporation/domiciliation.

The accompanying notes are an integral part of these financial statements.

98 | Wells Fargo (Lux) Worldwide Fund

Statement of assets and liabilities as at 30 September 2020 (unaudited)

Emerging EUR Alternative Emerging Markets Investment Risk China Markets Equity Grade Premia Equity Equity Income Credit Fund Fund Fund Fund Fund USD USD USD USD EUR

Assets Investments in securities, at cost ...... 21,954,490 13,232,250 339,004,998 189,114,136 97,865,616 Unrealised appreciation/(depreciation) ...... 9,125 2,868,420 64,299,244 13,150,566 2,374,406 Investments in securities, at market value ...... 21,963,615 16,100,670 403,304,242 202,264,702 100,240,022 Cash at banks ...... 11,987,557 662,587 29,628,696 11,702,106 5,456,479 Receivable for variation margin on futures contracts .. 185,875 0 0 0 81,775 Receivable from reverse repurchase agreements ...... 0 0 0 0 0 Unrealised appreciation on open forward foreign currency contracts ...... 254,631 0 0 0 0 Unrealised appreciation on futures contracts ...... 118,073 0 0 0 2,739 Unrealised appreciation on contracts for difference ... 450,700 0 0 0 0 Unrealised appreciation on swap contracts ...... 108,059 0 0 0 0 Interest receivable ...... 0 0 0 0 696,326 Dividends receivable ...... 58,316 0 478,331 726,891 0 Receivable for investments sold ...... 33,280,802 84,064 5,113 439,278 1,197,305 Receivable for shares issued ...... 0 0 706,651 144,935 0 Formation expenses ...... 67,250 0 0 0 0 Receivable from investment adviser ...... 9,207 0 0 0 0 Other assets ...... 4,732 2,965 5,463 32,591 13,935 Total assets ...... 68,488,817 16,850,286 434,128,496 215,310,503 107,688,581

Liabilities Payable for variation margin on futures contracts ..... 0 0 0 0 0 Dividends payable on contracts for difference ...... 27,707 0 0 0 0 Distributions payable ...... 0 0 0 0 0 Payable for investments purchased ...... 33,403,317 281 0 1,793,777 3,601,710 Payable for shares redeemed ...... 0 10,952 534,450 33,475 0 Payable for investment management fees ...... 0 15,663 403,832 186,369 20,957 Depositary bank and administration fees payable ..... 16,051 17,685 60,548 95,960 39,425 Performance fee payable ...... 0 0 0 0 0 Audit fees payable ...... 7,180 7,603 6,098 5,986 4,581 Miscellaneous fees payable ...... 9,082 30,061 33,360 33,644 9,219 Written option contracts, at market value ...... 0 0 0 0 0 Unrealised depreciation on open forward foreign currency contracts ...... 229,652 0 94 87 76,658 Unrealised depreciation on futures contracts ...... 298,420 0 0 0 19,637 Unrealised depreciation on contracts for difference ... 423,376 0 0 0 0 Subscription tax payable ...... 854 1,612 10,189 5,470 5,260 Value added tax payable ...... 4,688 12,000 15,146 12,565 5,653 Other liabilities ...... 45,089 32,148 509,737 23,394 37,178 Total liabilities ...... 34,465,416 128,005 1,573,454 2,190,727 3,820,278 Total net assets ...... 34,023,401 16,722,281 432,555,042 213,119,776 103,868,303

The accompanying notes are an integral part of these financial statements.

Wells Fargo (Lux) Worldwide Fund | 99

Statement of assets and liabilities as at 30 September 2020 (unaudited) (continued)

EUR Global Global Global Short Equity Factor Investment Duration Global Enhanced Enhanced Grade Credit Equity Income Equity Credit Fund Fund Fund Fund Fund EUR USD USD USD USD

Assets Investments in securities, at cost ...... 258,965,423 65,880,720 29,742,001 30,505,493 42,841,370 Unrealised appreciation/(depreciation) ...... 51,939 5,490,551 (62,438) 3,201,863 1,868,880 Investments in securities, at market value ...... 259,017,362 71,371,271 29,679,563 33,707,356 44,710,250 Cash at banks ...... 17,212,122 1,149,337 1,552,491 835,604 1,053,235 Receivable for variation margin on futures contracts ... 84,933 0 0 14,034 9,364 Receivable from reverse repurchase agreements ...... 0 0 0 0 0 Unrealised appreciation on open forward foreign currency contracts ...... 72 0 0 0 119,335 Unrealised appreciation on futures contracts ...... 0 0 13,570 0 2,579 Unrealised appreciation on contracts for difference .... 0 0 0 0 0 Unrealised appreciation on swap contracts ...... 0 0 0 0 0 Interest receivable ...... 1,793,017 384 0 1,445 390,941 Dividends receivable ...... 0 211,615 106,700 67,614 0 Receivable for investments sold ...... 0 0 2,025,517 0 41,542 Receivable for shares issued ...... 9,803,523 0 99,060 0 0 Formation expenses ...... 0 0 10,326 5,125 34,647 Receivable from investment adviser ...... 0 0 10,798 0 11,677 Other assets ...... 4,392 22,426 0 19,604 2,889 Total assets ...... 287,915,421 72,755,033 33,498,025 34,650,782 46,376,459

Liabilities Payable for variation margin on futures contracts ...... 0 0 11,470 0 0 Dividends payable on contracts for difference ...... 0 0 0 0 0 Distributions payable ...... 0 0 0 0 0 Payable for investments purchased ...... 3,532,883 0 2,029,163 0 119,752 Payable for shares redeemed ...... 288,503 1,213 186,409 0 0 Payable for investment management fees ...... 7,918 51,814 0 424 0 Depositary bank and administration fees payable ...... 14,616 22,470 8,666 3,377 34,353 Performance fee payable ...... 0 0 0 0 0 Audit fees payable ...... 13,326 6,143 1,705 884 4,029 Miscellaneous fees payable ...... 20,224 7,562 5,276 22,077 12,349 Written option contracts, at market value ...... 0 0 49,850 0 0 Unrealised depreciation on open forward foreign currency contracts ...... 38,651 38 0 124 12,204 Unrealised depreciation on futures contracts ...... 12,789 0 0 12,281 0 Unrealised depreciation on contracts for difference .... 0 0 0 0 0 Subscription tax payable ...... 31,716 1,515 3,875 571 1,140 Value added tax payable ...... 5,815 10,618 1,123 0 3,593 Other liabilities ...... 57,485 21,216 23,162 18,985 32,888 Total liabilities ...... 4,023,926 122,589 2,320,699 58,723 220,308 Total net assets ...... 283,891,495 72,632,444 31,177,326 34,592,059 46,156,151

The accompanying notes are an integral part of these financial statements.

100 | Wells Fargo (Lux) Worldwide Fund

Statement of assets and liabilities as at 30 September 2020 (unaudited) (continued)

Global Global Global U.S. Long/ Low Small Small All Short Volatility Cap Cap Cap Equity Equity Equity Innovation Growth Fund Fund Fund Fund Fund USD USD USD USD USD

Assets Investments in securities, at cost ...... 103,398,682 6,673,969 4,614,479 4,855,360 652,121,008 Unrealised appreciation/(depreciation) ...... 9,579,705 467,089 (33,273) 1,012,089 442,878,240 Investments in securities, at market value ...... 112,978,387 7,141,058 4,581,206 5,867,449 1,094,999,248 Cash at banks ...... 14,981,295 154,936 108,453 76,070 2,282,882 Receivable for variation margin on futures contracts .... 0 0 0 0 0 Receivable from reverse repurchase agreements ...... 0 0 0 0 0 Unrealised appreciation on open forward foreign currency contracts ...... 22 0 0 0 44 Unrealised appreciation on futures contracts ...... 0 0 0 0 0 Unrealised appreciation on contracts for difference ..... 995,723 0 0 0 0 Unrealised appreciation on swap contracts ...... 0 0 0 0 0 Interest receivable ...... 4,027 6,641 0 0 0 Dividends receivable ...... 385,406 25,472 7,743 1,676 113,866 Receivable for investments sold ...... 0 0 20,918 0 17,530,165 Receivable for shares issued ...... 0 0 0 0 575,669 Formation expenses ...... 413 7,357 29,827 29,989 0 Receivable from investment adviser ...... 0 5,198 14,731 6,634 0 Other assets ...... 2,261 24,447 0 0 56,234 Total assets ...... 129,347,534 7,365,109 4,762,878 5,981,818 1,115,558,108

Liabilities Payable for variation margin on futures contracts ...... 0 0 0 0 0 Dividends payable on contracts for difference ...... 15,517 0 0 0 0 Distributions payable ...... 0 0 0 0 0 Payable for investments purchased ...... 0 26 4,281 0 879,146 Payable for shares redeemed ...... 0 0 0 0 14,284,853 Payable for investment management fees ...... 82,550 0 0 0 799,835 Depositary bank and administration fees payable ...... 74,977 4,214 62,669 55,405 71,812 Performance fee payable ...... 1,167 0 0 0 0 Audit fees payable ...... 3,886 10,023 10,148 10,112 5,723 Miscellaneous fees payable ...... 17,780 21,148 8,602 9,634 40,556 Written option contracts, at market value ...... 0 0 0 0 0 Unrealised depreciation on open forward foreign currency contracts ...... 26,468 85 36 136 107,221 Unrealised depreciation on futures contracts ...... 0 0 0 0 0 Unrealised depreciation on contracts for difference ..... 990,813 0 0 0 0 Subscription tax payable ...... 5,993 746 112 147 55,456 Value added tax payable ...... 10,605 10,605 7,555 8,626 12,439 Other liabilities ...... 28,897 34,887 27,918 23,884 37,417 Total liabilities ...... 1,258,653 81,734 121,321 107,944 16,294,458 Total net assets ...... 128,088,881 7,283,375 4,641,557 5,873,874 1,099,263,650

The accompanying notes are an integral part of these financial statements.

Wells Fargo (Lux) Worldwide Fund | 101

Statement of assets and liabilities as at 30 September 2020 (unaudited) (continued)

U.S. Short- U.S. U.S. Term U.S. High Large U.S. High Small Yield Cap Select Yield Cap Bond Growth Equity Bond Value Fund Fund Fund Fund Fund USD USD USD USD USD

Assets Investments in securities, at cost ...... 67,224,483 105,302,247 154,101,382 175,875,893 16,019,179 Unrealised appreciation/(depreciation) ...... 633,569 76,048,340 (3,421,026) (363,583) (1,091,737) Investments in securities, at market value ...... 67,858,052 181,350,587 150,680,356 175,512,310 14,927,442 Cash at banks ...... 1,747,322 1,076,602 2,102,810 3,093,497 124,314 Receivable for variation margin on futures contracts ... 0 0 0 0 0 Receivable from reverse repurchase agreements ...... 0 0 0 0 0 Unrealised appreciation on open forward foreign currency contracts ...... 0 0 0 0 0 Unrealised appreciation on futures contracts ...... 0 0 0 0 0 Unrealised appreciation on contracts for difference .... 0 0 0 0 0 Unrealised appreciation on swap contracts ...... 0 0 0 0 0 Interest receivable ...... 1,027,049 0 0 2,892,066 0 Dividends receivable ...... 0 71,188 0 0 22,029 Receivable for investments sold ...... 34,749 1,549,922 666,867 4,854,566 75,261 Receivable for shares issued ...... 874 30,527 0 9,718 0 Formation expenses ...... 0 0 0 0 0 Receivable from investment adviser ...... 0 0 0 0 0 Other assets ...... 33,585 18,404 29,195 32,170 1,569 Total assets ...... 70,701,631 184,097,230 153,479,228 186,394,327 15,150,615

Liabilities Payable for variation margin on futures contracts ...... 0 0 0 0 0 Dividends payable on contracts for difference ...... 0 0 0 0 0 Distributions payable ...... 0 0 0 0 0 Payable for investments purchased ...... 265,844 0 618,969 0 65,644 Payable for shares redeemed ...... 191 6,068 0 9,012,516 0 Payable for investment management fees ...... 11,400 111,834 140,966 50,033 481 Depositary bank and administration fees payable ...... 48,205 10,151 28,310 33,853 15,014 Performance fee payable ...... 0 0 0 0 0 Audit fees payable ...... 5,282 6,295 5,576 5,252 5,820 Miscellaneous fees payable ...... 15,629 16,105 43,040 18,816 6,604 Written option contracts, at market value ...... 0 0 0 0 0 Unrealised depreciation on open forward foreign currency contracts ...... 575 44 78 101,847 60 Unrealised depreciation on futures contracts ...... 0 0 0 0 0 Unrealised depreciation on contracts for difference .... 0 0 0 0 0 Subscription tax payable ...... 2,273 5,268 5,247 6,062 296 Value added tax payable ...... 12,565 12,565 13,077 12,565 10,887 Other liabilities ...... 25,889 26,954 52,626 21,662 30,802 Total liabilities ...... 387,853 195,284 907,889 9,262,606 135,608 Total net assets ...... 70,313,778 183,901,946 152,571,339 177,131,721 15,015,007

The accompanying notes are an integral part of these financial statements.

102 | Wells Fargo (Lux) Worldwide Fund

Statement of assets and liabilities as at 30 September 2020 (unaudited) (continued)

USD USD Government Investment Money Grade Market Credit Fund Fund Combined USD USD USD

Assets Investments in securities, at cost ...... 665,020,724 3,396,492,353 290,642,938 Unrealised appreciation/(depreciation) ...... 0 21,103,564 640,483,957 Investments in securities, at market value ...... 665,020,724 311,746,502 4,036,976,310 Cash at banks ...... 24,112,313 3,900,567 138,910,475 Receivable for variation margin on futures contracts ...... 0 0 404,730 Receivable from reverse repurchase agreements ...... 300,000,000 0 300,000,000 Unrealised appreciation on open forward foreign currency contracts ...... 0 80,593 454,709 Unrealised appreciation on futures contracts ...... 0 0 137,433 Unrealised appreciation on contracts for difference ...... 0 0 1,446,423 Unrealised appreciation on swap contracts ...... 0 0 108,059 Interest receivable ...... 123,358 2,780,666 10,145,207 Dividends receivable ...... 0 0 2,276,847 Receivable for investments sold ...... 0 7,070,345 69,082,889 Receivable for shares issued ...... 0 272,435 13,334,010 Formation expenses ...... 0 1,587 186,521 Receivable from investment adviser ...... 0 0 58,245 Other assets ...... 452,389 32,090 794,502 Total assets ...... 989,708,784 325,884,785 4,574,316,360

Liabilities Payable for variation margin on futures contracts ...... 0 0 11,470 Dividends payable on contracts for difference ...... 0 0 43,224 Distributions payable ...... 9,583 0 9,583 Payable for investments purchased ...... 14,993,276 67,128,638 4,590,208 Payable for shares redeemed ...... 0 26,166,804 1,758,422 Payable for investment management fees ...... 22,143 69,707 1,980,905 Depositary bank and administration fees payable ...... 92,886 64,060 884,027 Performance fee payable ...... 0 0 1,167 Audit fees payable ...... 15,332 2,700 146,772 Miscellaneous fees payable ...... 0 392,961 7,115 Written option contracts, at market value ...... 0 0 49,850 Unrealised depreciation on open forward foreign currency contracts ...... 0 252,010 865,953 Unrealised depreciation on futures contracts ...... 0 0 348,718 Unrealised depreciation on contracts for difference ...... 0 0 1,414,189 Subscription tax payable ...... 25,013 183,713 8,522 Value added tax payable ...... 15,818 10,605 211,091 Other liabilities ...... 171,896 1,332,974 32,535 Total liabilities ...... 15,345,947 101,172,039 6,795,884 Total net assets ...... 974,362,837 4,473,144,321 319,088,901

The accompanying notes are an integral part of these financial statements.

Wells Fargo (Lux) Worldwide Fund | 103

Statement of assets and liabilities as at 30 September 2020 (unaudited) (continued)

Emerging EUR EUR Alternative Emerging Markets Investment Short Risk China Markets Equity Grade Duration Premia Equity Equity Income Credit Credit Fund Fund Fund Fund Fund Fund

Number of shares outstanding Class A (EUR) Shares-acc...... N/A N/A N/A N/A N/A 92 Class A (EUR) Shares-distr...... N/A N/A N/A N/A 92 92 Class A (SEK) Shares-acc...... N/A 76,614 N/A N/A N/A N/A Class A (USD) Shares-acc...... N/A 1,395 1,607 6,383 N/A N/A Class A (USD) Shares-gross distr...... N/A N/A N/A 134,897 N/A N/A Class I (AUD) Shares-distr...... N/A N/A 24 160,302 N/A N/A Class I (CHF) Shares-acc. (hedged) ...... 99 N/A 98 N/A 1,034,963 N/A Class I (CHF) Shares-distr. (hedged) ...... N/A N/A N/A 98 N/A N/A Class I (EUR) Shares-acc...... N/A 126 1,358,655 26,763 19,140 23,820 Class I (EUR) Shares-acc. (hedged) ...... 90 N/A N/A N/A N/A N/A Class I (EUR) Shares-distr...... N/A N/A N/A 92 90 10,718 Class I (GBP) Shares-acc...... N/A 31 914,543 N/A N/A N/A Class I (GBP) Shares-acc. (hedged) ...... 76 N/A N/A N/A N/A 1 Class I (GBP) Shares-distr...... N/A N/A N/A 77 N/A N/A Class I (USD) Shares-acc...... 399,700 28 1,070,947 1,048,889 N/A N/A Class I (USD) Shares-gross distr...... N/A N/A N/A 78 N/A N/A Class X (EUR) Shares-acc...... N/A N/A N/A N/A N/A 2,155,766 Class X (EUR) Shares-distr...... N/A N/A N/A N/A N/A 25,191 Class X (GBP) Shares-acc...... N/A N/A N/A 112 N/A N/A Class X (GBP) Shares-distr. (hedged) ...... N/A N/A N/A N/A N/A 77 Class X (USD) Shares-acc. (hedged) ...... N/A N/A N/A N/A N/A 100 Class X1 (EUR) Shares-acc...... N/A N/A N/A N/A N/A 206,914 Class X1 (USD) Shares-acc. (hedged) ...... N/A N/A N/A N/A N/A 100 Class Y (EUR) Shares-gross distr...... N/A N/A N/A 6,958 N/A N/A Class Y (GBP) Shares-gross distr...... N/A N/A N/A 424,170 N/A N/A Class Y (USD) Shares-gross distr...... N/A N/A N/A 741 N/A N/A Class Z (CHF) Shares-acc. (hedged) ...... N/A N/A 98 N/A N/A N/A Class Z (CHF) Shares-distr. (hedged) ...... N/A N/A N/A 98 N/A N/A Class Z (EUR) Shares-acc...... N/A N/A 92 N/A N/A 92 Class Z (EUR) Shares-distr...... N/A N/A N/A 92 92 92 Class Z (GBP) Shares-acc...... N/A 206 77 92 N/A N/A Class Z (GBP) Shares-distr...... N/A N/A N/A 77 N/A N/A Class Z (USD) Shares-acc...... N/A N/A 100 N/A N/A N/A Class Z (USD) Shares-distr...... N/A N/A N/A 100 N/A N/A

The accompanying notes are an integral part of these financial statements.

104 | Wells Fargo (Lux) Worldwide Fund

Statement of assets and liabilities as at 30 September 2020 (unaudited) (continued)

Global Global Global Global Global Equity Factor Investment Long/ Low Global Enhanced Enhanced Grade Short Volatility Equity Income Equity Credit Equity Equity Fund Fund Fund Fund Fund Fund

Number of shares outstanding Class A (USD) Shares-acc...... 179 N/A 100 N/A N/A 110 Class A (USD) Shares-distr...... N/A 100 N/A N/A N/A N/A Class AP (USD) Shares-acc...... N/A N/A N/A N/A 7,703 N/A Class I (CHF) Shares-acc. (hedged) ...... N/A N/A 98 N/A N/A 97 Class I (CHF) Shares-distr. (hedged) ...... N/A N/A N/A 100 N/A N/A Class I (EUR) Shares-acc...... N/A N/A N/A N/A N/A 550,131 Class I (EUR) Shares-acc. (hedged) ...... 92 N/A 92 N/A N/A N/A Class I (EUR) Shares-distr. (hedged) ...... N/A N/A N/A 91 N/A N/A Class I (GBP) Shares-acc...... N/A N/A 77 N/A N/A 506 Class I (GBP) Shares-distr. (hedged) ...... N/A N/A N/A 32,838 N/A N/A Class I (USD) Shares-acc...... 412,777 N/A 321,944 N/A N/A 43,498 Class I (USD) Shares-distr...... N/A 100 N/A 399,300 N/A N/A Class IP (CHF) Shares-acc. (hedged) ...... N/A N/A N/A N/A 97 N/A Class IP (EUR) Shares-acc. (hedged) ...... N/A N/A N/A N/A 137,309 N/A Class IP (EUR) Shares-distr...... N/A N/A N/A N/A 11,300 N/A Class IP (GBP) Shares-acc...... N/A N/A N/A N/A 45,671 N/A Class IP (USD) Shares-acc...... N/A N/A N/A N/A 974,564 N/A Class X (USD) Shares-gross distr...... N/A 306,530 N/A N/A N/A N/A Class Z (CHF) Shares-acc. (hedged) ...... N/A N/A 98 N/A N/A 97 Class Z (CHF) Shares-distr. (hedged) ...... N/A N/A N/A 100 N/A N/A Class Z (EUR) Shares-acc. (hedged) ...... N/A N/A 92 N/A N/A 95 Class Z (EUR) Shares-distr. (hedged) ...... N/A N/A N/A 91 N/A N/A Class Z (GBP) Shares-acc...... 608 N/A 77 N/A N/A 78 Class Z (GBP) Shares-distr. (hedged) ...... N/A N/A N/A 78 N/A N/A Class Z (USD) Shares-acc...... N/A N/A 100 N/A N/A 100 Class Z (USD) Shares-distr...... N/A N/A N/A 100 N/A N/A Class ZP (CHF) Shares-acc. (hedged) ...... N/A N/A N/A N/A 97 N/A Class ZP (EUR) Shares-acc. (hedged) ...... N/A N/A N/A N/A 641 N/A Class ZP (GBP) Shares-acc...... N/A N/A N/A N/A 78 N/A Class ZP (USD) Shares-acc...... N/A N/A N/A N/A 100 N/A

The accompanying notes are an integral part of these financial statements.

Wells Fargo (Lux) Worldwide Fund | 105

Statement of assets and liabilities as at 30 September 2020 (unaudited) (continued)

Global U.S. U.S. U.S. Small Small All High Large U.S. Cap Cap Cap Yield Cap Select Equity Innovation Growth Bond Growth Equity Fund Fund Fund Fund Fund Fund

Number of shares outstanding Class A (EUR) Shares-acc...... N/A N/A N/A N/A N/A 100 Class A (EUR) Shares-acc. (hedged) ...... N/A N/A 10,720 N/A N/A N/A Class A (GBP) Shares-acc...... N/A N/A 1,842 N/A N/A N/A Class A (SGD) Shares-acc. (hedged) ...... N/A N/A 139 N/A N/A N/A Class A (USD) Shares-acc...... N/A N/A 270,875 4,485 31,501 1,202 Class A (USD) Shares-gross distr...... N/A N/A N/A 30,999 N/A N/A Class I (CHF) Shares-acc. (hedged) ...... 98 98 97 N/A N/A N/A Class I (CHF) Shares-distr. (hedged) ...... N/A N/A N/A 97 N/A N/A Class I (EUR) Shares-acc...... 93 N/A 293,177 252,079 390,531 N/A Class I (EUR) Shares-acc. (hedged) ...... N/A 93 32,028 59 92 89 Class I (EUR) Shares-distr. (hedged) ...... N/A N/A N/A 91 N/A N/A Class I (GBP) Shares-acc...... 78 78 17,198 N/A N/A 77 Class I (GBP) Shares-acc. (hedged) ...... N/A N/A N/A 988 N/A N/A Class I (GBP) Shares-distr. (hedged) ...... N/A N/A N/A 78 N/A N/A Class I (USD) Shares-acc...... 49,700 49,400 1,257,558 48,698 62,309 1,136,484 Class I (USD) Shares-gross distr...... N/A N/A N/A 69 N/A N/A Class X (GBP) Shares-acc...... N/A N/A N/A 269 N/A N/A Class X (USD) Shares-distr...... N/A N/A N/A N/A N/A 194,847 Class Z (EUR) Shares-acc. (hedged) ...... N/A 93 152,424 N/A N/A 92 Class Z (EUR) Shares-distr. (hedged) ...... N/A N/A N/A 91 N/A N/A Class Z (GBP) Shares-acc...... N/A 173 33,579 266 153 77 Class Z (GBP) Shares-distr...... N/A N/A 1,505 N/A N/A N/A Class Z (GBP) Shares-distr. (hedged) ...... N/A N/A N/A 78 N/A N/A Class Z (USD) Shares-acc...... N/A 100 100,823 N/A N/A N/A Class Z (USD) Shares-distr...... N/A N/A 172,248 100 N/A N/A

The accompanying notes are an integral part of these financial statements.

106 | Wells Fargo (Lux) Worldwide Fund

Statement of assets and liabilities as at 30 September 2020 (unaudited) (continued)

U.S. Short- Term U.S. USD USD High Small Government Investment Yield Cap Money Grade Bond Value Market Credit Fund Fund Fund Fund

Number of shares outstanding Class A (USD) Shares-acc...... 10,310 N/A N/A 41,795 Class A (USD) Shares-distr...... N/A N/A N/A 100 Class I (CHF) Shares-distr. (hedged) ...... N/A N/A N/A 98 Class I (EUR) Shares-acc. (hedged) ...... N/A N/A N/A 100 Class I (EUR) Shares-distr. (hedged) ...... 80,933 N/A N/A 543,050 Class I (GBP) Shares-acc...... N/A 826 N/A N/A Class I (GBP) Shares-distr. (hedged) ...... 353,834 N/A N/A 1,714 Class I (JPY) Shares-acc. (hedged) ...... N/A N/A N/A 114,685 Class I (SGD) Shares-acc. (hedged) ...... N/A N/A N/A 100 Class I (USD) Shares-acc...... 981,712 137,758 N/A 613,979 Class I (USD) Shares-distr...... N/A N/A 14,167,318 979,577 Class I (USD) Shares-gross distr...... 144,147 N/A N/A N/A Class X (GBP) Shares-acc...... 178 N/A N/A N/A Class X (GBP) Shares-acc. (hedged) ...... N/A 76 N/A N/A Class Y (EUR) Shares-gross distr. (hedged) ...... N/A N/A N/A 15,893 Class Y (GBP) Shares-gross distr. (hedged) ...... N/A N/A N/A 5,295 Class Y (USD) Shares-gross distr...... N/A N/A N/A 318,769 Class Z (EUR) Shares-distr. (hedged) ...... 91 N/A N/A 92 Class Z (GBP) Shares-acc. (hedged) ...... N/A 114 N/A N/A Class Z (GBP) Shares-distr. (hedged) ...... N/A N/A N/A 77 Class Z (USD) Shares-acc...... N/A 146 N/A N/A Class Z (USD) Shares-distr...... N/A N/A N/A 100 Service Class (USD) Shares-distr...... N/A N/A 960,195,519 N/A

The accompanying notes are an integral part of these financial statements.

Wells Fargo (Lux) Worldwide Fund | 107

Statement of operations and changes in net assets for the six months ended 30 September 2020 (unaudited)

Emerging EUR Alternative Emerging Markets Investment Risk China Markets Equity Grade Premia Equity Equity Income Credit Fund Fund Fund Fund Fund USD USD USD USD EUR Income Dividends ...... 161,092 181,579 3,567,072 5,551,410 0 Interest ...... 110,777 0 0 0 728,709 Interest on reverse repurchase agreements ...... 0 0 0 0 0 Interest on contracts for difference ...... 1,409 0 0 0 0 Other income ...... 0 0 0 0 0 Total income ...... 273,278 181,579 3,567,072 5,551,410 728,709

Expenses Management company fees ...... 10,200 11,572 54,894 43,347 20,344 Investment management fees ...... 103,186 111,682 1,941,131 1,345,148 153,451 Depositary bank and administration fees ...... 68,779 34,109 104,269 194,936 77,403 Registrar, transfer agent and paying agent fees ...... 16,318 21,927 24,718 34,360 9,400 Directors fees and expenses ...... 4,255 2,717 2,789 2,789 2,599 Performance fees ...... 0 0 0 0 0 Dividend expense on contracts for difference ...... 219,843 0 0 0 0 Interest expense on swap contracts ...... 19,667 0 0 0 0 Audit fees and tax services ...... 6,619 967 1,334 1,218 1,232 Subscription tax ...... 1,695 3,830 18,676 12,721 5,160 Amortisation of formation expenses ...... 2,346 0 0 0 0 Legal expenses ...... 16,794 8,991 9,935 12,786 13,750 Shareholder report expenses ...... 9,851 15,009 16,862 23,941 13,814 Other expenses ...... 35,490 23,013 535,200 32,204 14,676 Total expenses ...... 515,043 233,817 2,709,808 1,703,450 311,829

Less Waived fees and/or reimbursed expenses ...... (148,045) (99,183) 0 (2,114) (80,774) Net expenses ...... 366,998 134,634 2,709,808 1,701,336 231,055 Net investment profit/(loss) ...... (93,720) 46,945 857,264 3,850,074 497,654

Realised and unrealised profit/(loss) Net realised profit/(loss) on Investments ...... 5,891 1,897,116 3,024,340 (21,093,148) 618,580 Forward foreign currency contracts ...... (899,944) 0 826 4,938 (1,771,923) Futures contracts ...... (616,860) 0 0 0 (133,985) Written option contracts ...... 0 0 0 0 0 Contracts for difference ...... (312,025) 0 0 0 0 Swap contracts ...... (69,757) 0 0 0 0 Foreign currency on other transactions ...... 7,595 (6,403) (48,451) (147,206) (44,814) Net realised profit/(loss) ...... (1,885,100) 1,890,713 2,976,715 (21,235,416) (1,332,142) Net change in unrealised appreciation/(depreciation) on Investments ...... (113,818) 2,372,295 77,053,758 70,699,515 7,252,586 Forward foreign currency contracts ...... 435,436 0 (26) (21) 146,360 Futures contracts ...... 67,535 0 0 0 96,236 Written option contracts ...... 0 0 0 0 0 Contracts for difference ...... (89,833) 0 0 0 0 Swap contracts ...... 176,718 0 0 0 0 Foreign currency on other transactions ...... (13,389) 6,038 40,184 127,909 3,399 Net change in unrealised appreciation/(depreciation) ...... 462,649 2,378,333 77,093,916 70,827,403 7,498,581 Net realised and unrealised profit/(loss) ...... (1,422,451) 4,269,046 80,070,631 49,591,987 6,166,439 Net increase/(decrease) in net assets as a result of operations ... (1,516,171) 4,315,991 80,927,895 53,442,061 6,664,093 Distributions to shareholders from profit/(loss) ...... 0 0 (93) (1,404,985) (1,550)

Capital share transactions Receipts from shares issued ...... 0 1,929,193 124,232,262 19,835,676 797,560 Reinvestment of distributions ...... 0 0 0 448,591 0 Payments from shares redeemed ...... 0 (1,611,769) (16,582,781) (175,788,623) (27,300) Net increase/(decrease) in net assets resulting from capital share transactions ...... 0 317,424 107,649,481 (155,504,356) 770,260 Total increase/(decrease) in net assets ...... (1,516,171) 4,633,415 188,577,283 (103,467,280) 7,432,803 Net assets at the beginning of the period ...... 35,539,572 12,088,866 243,977,759 316,587,056 96,435,500 Currency translation adjustment ...... Net assets at the end of the period ...... 34,023,401 16,722,281 432,555,042 213,119,776 103,868,303

The accompanying notes are an integral part of these financial statements.

108 | Wells Fargo (Lux) Worldwide Fund

Statement of operations and changes in net assets for the six months ended 30 September 2020 (unaudited) (continued)

EUR Global Global Global Short Equity Equity Factor Duration Global Absolute Enhanced Enhanced Credit Equity Return Income Equity Fund Fund Fund1 Fund2 Fund EUR USD USD USD USD Income Dividends ...... 0 530,815 15,178 250,572192,071 Interest ...... 621,043 0 0 0 0 Interest on reverse repurchase agreements ...... 0 0 0 0 0 Interest on contracts for difference ...... 0 0 0 0 0 Other income ...... 0 0 0 0 0 Total income ...... 621,043 530,815 15,178 192,071 250,572

Expenses Management company fees ...... 42,327 13,409 2,542 4,998 11,573 Investment management fees ...... 146,800 275,760 3,796 16,006 24,009 Depositary bank and administration fees ...... 81,297 23,629 4,444 8,666 24,581 Registrar, transfer agent and paying agent fees ...... 20,333 18,898 3,779 5,555 11,614 Directors fees and expenses ...... 2,251 3,593 209 474 2,650 Performance fees ...... 0 0 0 0 0 Dividend expense on contracts for difference ...... 0 0 4,176 0 0 Interest expense on swap contracts ...... 0 0 0 0 0 Audit fees and tax services ...... 0 1,105 0 1,705 1,486 Subscription tax ...... 57,945 3,644 114 3,875 1,664 Amortisation of formation expenses ...... 0 0 0 1,018 743 Legal expenses ...... 9,069 10,053 2,501 6,060 16,271 Shareholder report expenses ...... 17,563 13,471 2,051 9,439 22,955 Other expenses ...... 22,547 18,302 1,665 9,084 16,990 Total expenses ...... 400,132 381,864 25,277 66,880 134,536

Less Waived fees and/or reimbursed expenses ...... (119,352) (17,810) (23,444) (44,411) (93,883) Net expenses ...... 280,780 364,054 1,833 22,469 40,653 Net investment profit/(loss) ...... 340,263 166,761 13,345 169,602 209,919

Realised and unrealised profit/(loss) Net realised profit/(loss) on Investments ...... (357,341) (1,881,283) (940,829) 246,602 (1,543,325) Forward foreign currency contracts ...... 67,979 596 (6,438) 0 2,075 Futures contracts ...... (22,638) 0 0 5,255 214,299 Written option contracts ...... 0 0 0 59,275 0 Contracts for difference ...... 0 0 (2,101,366) 0 0 Swap contracts ...... 0 0 0 0 0 Foreign currency on other transactions ...... (27,641) 5,758 3,049 11,797 9,467 Net realised profit/(loss) ...... (339,641) (1,874,929) (3,045,584) 322,929 (1,317,484) Net change in unrealised appreciation/(depreciation) on Investments ...... 12,940,354 13,502,147 2,031,546 (62,438) 9,049,085 Forward foreign currency contracts ...... 60,533 (71) (2,147) 0 88 Futures contracts ...... (25,755) 0 0 13,570 (56,781) Written option contracts ...... 0 0 0 28,365 0 Contracts for difference ...... 0 0 397,630 0 0 Swap contracts ...... 0 0 0 0 0 Foreign currency on other transactions ...... (2,039) 6,663 809 (979) 1,886 Net change in unrealised appreciation/(depreciation) ...... 12,973,093 13,508,739 2,427,838 (21,482) 8,994,278 Net realised and unrealised profit/(loss) ...... 12,633,452 11,633,810 (617,746) 301,4477,676,794 Net increase/(decrease) in net assets as a result of operations ...... 12,973,715 11,800,571 (604,401) 471,049 7,886,713 Distributions to shareholders from profit/(loss) ...... (33,666) 0 0 0 0

Capital share transactions Receipts from shares issued ...... 67,990,404 21,195,400 0 31,354,186 1,333,330 Reinvestment of distributions ...... 0 0 0 0 0 Payments from shares redeemed ...... (16,262,702) (9,452,640) (9,867,366) (647,909) (15,080) Net increase/(decrease) in net assets resulting from capital share transactions ...... 51,727,702 11,742,760 (9,867,366) 30,706,277 1,318,250 Total increase/(decrease) in net assets ...... 64,667,751 23,543,331 (10,471,767) 31,177,326 9,204,963 Net assets at the beginning of the period ...... 219,223,744 49,089,113 10,471,767 0 25,387,096 Currency translation adjustment ...... Net assets at the end of the period ...... 283,891,495 72,632,444 0 31,177,326 34,592,059

1 For the period from 1 April 2020 to 12 May 2020. The Sub-Fund was liquidated on 12 May 2020. 2 For the period from 16 July 2020 (commencement of operations) to 30 September 2020.

The accompanying notes are an integral part of these financial statements.

Wells Fargo (Lux) Worldwide Fund | 109

Statement of operations and changes in net assets for the six months ended 30 September 2020 (unaudited) (continued)

Global Global Global Global Investment Long/ Low Multi- Global Grade Short Volatility Asset Opportunity Credit Equity Equity Income Bond Fund Fund Fund Fund1 Fund2 USD USD USD USD USD Income Dividends ...... 0 1,048,384 116,944 120,420 0 Interest ...... 504,262 0 0 139,828215,958 Interest on reverse repurchase agreements ...... 0 0 0 0 0 Interest on contracts for difference ...... 0 0 0 0 0 Other income ...... 0 0 0 0 0 Total income ...... 504,262 1,048,384 116,944 336,378 139,828

Expenses Management company fees ...... 10,200 24,820 11,573 4,209 9,335 Investment management fees ...... 67,003 482,203 26,358 52,621 24,782 Depositary bank and administration fees ...... 78,246 127,925 22,600 31,304 34,788 Registrar, transfer agent and paying agent fees ...... 19,777 16,627 15,628 10,501 18,566 Directors fees and expenses ...... 4,255 3,940 3,898 369 5,731 Performance fees ...... 0 1,167 0 0 0 Dividend expense on contracts for difference ...... 0 379,518 0 0 0 Interest expense on swap contracts ...... 0 0 0 0 0 Audit fees and tax services ...... 4,029 1,939 0 3,682 862 Subscription tax ...... 2,284 6,452 460 1,056 459 Amortisation of formation expenses ...... 4,577 0 1,706 0 0 Legal expenses ...... 18,576 16,353 20,736 5,453 13,970 Shareholder report expenses ...... 19,749 22,236 21,490 2,660 18,141 Other expenses ...... 24,602 17,904 52,128 5,388 22,130 Total expenses ...... 253,298 1,101,084 176,577 117,243 148,764

Less Waived fees and/or reimbursed expenses ...... (152,775) (78,468) (141,583) (53,428) (113,655) Net expenses ...... 100,523 1,022,616 34,994 63,815 35,109 Net investment profit/(loss) ...... 403,739 25,768 81,950 272,563 104,719

Realised and unrealised profit/(loss) Net realised profit/(loss) on Investments ...... 449,843 5,736,853 (546,092) (7,607,148) 1,223,361 Forward foreign currency contracts ...... (988,177) 1,168,860 1,402 (43,669) 371,997 Futures contracts ...... 1,279 0 0 462,459 0 Written option contracts ...... 0 0 0 (191,544) 0 Contracts for difference ...... 0 (16,396,000) 0 0 0 Swap contracts ...... 0 0 0 0 0 Foreign currency on other transactions ...... 28,598 (64,838) (728) (192,343) 29,751 Net realised profit/(loss) ...... (508,457) (9,555,125) (545,418) (7,572,245) 1,625,109 Net change in unrealised appreciation/(depreciation) on Investments ...... 4,026,588 29,683,122 2,282,073 10,741,740 (459,200) Forward foreign currency contracts ...... 372,678 (115,978) 108 123,157 (515,258) Futures contracts ...... 2,579 0 0 (162,183) 0 Written option contracts ...... 0 0 0 (48,906) 0 Contracts for difference ...... 0 1,850,337 0 0 0 Swap contracts ...... 0 0 0 0 0 Foreign currency on other transactions ...... 3,893 36,367 1,777 2,624 (11,953) Net change in unrealised appreciation/(depreciation) ...... 4,405,738 31,453,848 2,283,958 10,656,432(986,411) Net realised and unrealised profit/(loss) ...... 3,897,281 21,898,723 1,738,540 3,084,187638,698 Net increase/(decrease) in net assets as a result of operations ..... 4,301,020 21,924,491 1,820,490 3,356,750 743,417 Distributions to shareholders from profit/(loss) ...... (396,861) (50,549) 0 (571,960) 0

Capital share transactions Receipts from shares issued ...... 2,170,139 2,778,880 88,256 448 752,445 Reinvestment of distributions ...... 0 0 0 0 0 Payments from shares redeemed ...... 0 (39,090,546) (4,342,283) (92,216,979) (26,591,544) Net increase/(decrease) in net assets resulting from capital share transactions ...... 2,170,139 (36,311,666) (4,254,027) (92,216,531) (25,839,099) Total increase/(decrease) in net assets ...... 6,074,298 (14,437,724) (2,433,537) (89,431,741) (25,095,682) Net assets at the beginning of the period ...... 40,081,853 142,526,605 9,716,912 89,431,741 25,095,682 Currency translation adjustment ...... Net assets at the end of the period ...... 46,156,151 128,088,881 7,283,375 0 0

1 For the period from 1 April 2020 to 12 May 2020. The Sub-Fund was liquidated on 12 May 2020. 2 For the period from 1 April 2020 to 27 August 2020. The Sub-Fund was liquidated on 27 August 2020.

The accompanying notes are an integral part of these financial statements.

110 | Wells Fargo (Lux) Worldwide Fund

Statement of operations and changes in net assets for the six months ended 30 September 2020 (unaudited) (continued)

Global U.S. U.S. U.S. Small Small All High Large Cap Cap Cap Yield Cap Equity Innovation Growth Bond Growth Fund Fund Fund Fund Fund USD USD USD USD USD Income Dividends ...... 25,400 5,152 1,476,441 0 394,483 Interest ...... 0 0 0 1,842,149 0 Interest on reverse repurchase agreements ...... 0 0 0 0 0 Interest on contracts for difference ...... 0 0 0 0 0 Other income ...... 0 0 0 0 0 Total income ...... 25,400 5,152 1,476,441 1,842,149 394,483

Expenses Management company fees ...... 10,201 10,201 123,833 12,987 30,185 Investment management fees ...... 18,592 21,155 4,340,625 225,882 616,134 Depositary bank and administration fees ...... 69,196 59,037 170,203 86,585 22,404 Registrar, transfer agent and paying agent fees ...... 10,490 10,620 56,183 27,675 26,967 Directors fees and expenses ...... 4,554 4,553 3,598 3,580 3,901 Performance fees ...... 0 0 0 0 0 Dividend expense on contracts for difference ...... 0 0 0 0 0 Interest expense on swap contracts ...... 0 0 0 0 0 Audit fees and tax services ...... 11,185 11,149 1,278 2,101 1,529 Subscription tax ...... 224 277 108,637 4,375 11,016 Amortisation of formation expenses ...... 2,614 4,052 0 0 0 Legal expenses ...... 12,481 11,356 12,409 10,349 9,286 Shareholder report expenses ...... 8,288 8,288 23,896 19,839 15,428 Other expenses ...... 22,027 21,586 24,188 21,693 22,266 Total expenses ...... 169,852 162,274 4,864,850 415,066 759,116

Less Waived fees and/or reimbursed expenses ...... (147,985) (138,338) (5,969) (91,795) 0 Net expenses ...... 21,867 23,936 4,858,881 323,271 759,116 Net investment profit/(loss) ...... 3,533 (18,784) (3,382,440) 1,518,878 (364,633)

Realised and unrealised profit/(loss) Net realised profit/(loss) on Investments ...... (116,404) 20,984 66,698,619 (4,416,202) 6,059,524 Forward foreign currency contracts ...... 391 1,801 1,753,023 9,277 745 Futures contracts ...... 0 0 0 0 0 Written option contracts ...... 0 0 0 0 0 Contracts for difference ...... 0 0 0 0 0 Swap contracts ...... 0 0 0 0 0 Foreign currency on other transactions ...... 934 425 (28,212) (725) (467) Net realised profit/(loss) ...... (115,079) 23,210 68,423,430 (4,407,650) 6,059,802 Net change in unrealised appreciation/(depreciation) on Investments ...... 933,371 2,229,588 300,330,096 10,535,330 42,859,730 Forward foreign currency contracts ...... (37) (200) (138,783) (2,186) (80) Futures contracts ...... 0 0 0 0 0 Written option contracts ...... 0 0 0 0 0 Contracts for difference ...... 0 0 0 0 0 Swap contracts ...... 0 0 0 0 0 Foreign currency on other transactions ...... (75) (832) (218) 0 0 Net change in unrealised appreciation/(depreciation) ...... 933,259 2,228,556 300,191,095 10,533,144 42,859,650 Net realised and unrealised profit/(loss) ...... 818,180 2,251,766 368,614,525 6,125,494 48,919,452 Net increase/(decrease) in net assets as a result of operations ..... 821,713 2,232,982 365,232,085 7,644,372 48,554,819 Distributions to shareholders from profit/(loss) ...... 0 0 0 (78,256) 0

Capital share transactions Receipts from shares issued ...... 0 12,539 222,254,803 8,460,866 24,612,897 Reinvestment of distributions ...... 0 0 0 0 0 Payments from shares redeemed ...... 0 0 (196,879,374) (1,861,303) (9,737,249) Net increase/(decrease) in net assets resulting from capital share transactions ...... 0 12,539 25,375,429 6,599,563 14,875,648 Total increase/(decrease) in net assets ...... 821,713 2,245,521 390,607,514 14,165,679 63,430,467 Net assets at the beginning of the period ...... 3,819,844 3,628,353 708,656,136 56,148,099 120,471,479 Currency translation adjustment ...... Net assets at the end of the period ...... 4,641,557 5,873,874 1,099,263,650 70,313,778 183,901,946

The accompanying notes are an integral part of these financial statements.

Wells Fargo (Lux) Worldwide Fund | 111

Statement of operations and changes in net assets for the six months ended 30 September 2020 (unaudited) (continued)

U.S. Short- Term U.S. USD USD U.S. High Small Government Investment Select Yield Cap Money Grade Equity Bond Value Market Credit Fund Fund Fund Fund Fund USD USD USD USD USD Income Dividends ...... 716,281 0 131,6960 0 Interest ...... 0 5,096,056 0 5,327,2251,212,450 Interest on reverse repurchase agreements ...... 0 0 0 079,811 Interest on contracts for difference ...... 0 0 0 0 0 Other income ...... 0 0 17,974 0 0 Total income ...... 716,281 5,096,056 149,670 1,292,261 5,327,225

Expenses Management company fees ...... 33,172 39,731 11,572 71,116 54,788 Investment management fees ...... 980,980 572,143 74,406 2,096,575 502,975 Depositary bank and administration fees ...... 44,677 67,427 30,485 183,490 136,878 Registrar, transfer agent and paying agent fees ...... 16,809 22,567 16,275 28,346 30,426 Directors fees and expenses ...... 27,199 2,789 3,859 2,743 3,881 Performance fees ...... 0 0 0 0 0 Dividend expense on contracts for difference ...... 0 0 0 0 0 Interest expense on swap contracts ...... 0 0 0 0 0 Audit fees and tax services ...... 1,469 2,078 1,348 0 2,365 Subscription tax ...... 13,147 11,070 848 47,506 17,820 Amortisation of formation expenses ...... 0 0 0 0 0 Legal expenses ...... 10,206 12,233 13,195 55,112 13,018 Shareholder report expenses ...... 25,245 17,657 15,687 14,841 19,944 Other expenses ...... 102,315 18,871 16,967 50,428 20,373 Total expenses ...... 1,255,219 766,566 184,642 2,550,157 802,468

Less Waived fees and/or reimbursed expenses ...... (8,943) (4,609) (101,473) (1,347,365) (52,780) Net expenses ...... 1,246,276 761,957 83,169 1,202,792 749,688 Net investment profit/(loss) ...... (529,995) 4,334,099 66,501 89,469 4,577,537

Realised and unrealised profit/(loss) Net realised profit/(loss) on Investments ...... (6,780,041) 678,337 (1,025,837) 1,922 9,323,449 Forward foreign currency contracts ...... 1,252 1,622,545 865 0 6,123,245 Futures contracts ...... 0 0 0 0 0 Written option contracts ...... 0 0 0 0 0 Contracts for difference ...... 0 0 0 0 0 Swap contracts ...... 0 0 0 0 0 Foreign currency on other transactions ...... (4) (1,304) 0 0 2,206 Net realised profit/(loss) ...... (6,778,793) 2,299,578 (1,024,972) 1,922 15,448,900 Net change in unrealised appreciation/(depreciation) on Investments ...... 67,892,891 12,084,067 4,333,644 0 17,138,062 Forward foreign currency contracts ...... (139) (375,138) (239) 0 (602,850) Futures contracts ...... 0 0 0 0 0 Written option contracts ...... 0 0 0 0 0 Contracts for difference ...... 0 0 0 0 0 Swap contracts ...... 0 0 0 0 0 Foreign currency on other transactions ...... 0 0 0 0 25 Net change in unrealised appreciation/(depreciation) ...... 67,892,752 11,708,929 4,333,405 0 16,535,237 Net realised and unrealised profit/(loss) ...... 61,113,959 14,008,507 3,308,433 1,922 31,984,137 Net increase/(decrease) in net assets as a result of operations .. 60,583,964 18,342,606 3,374,934 91,391 36,561,674 Distributions to shareholders from profit/(loss) ...... (69,157) (782,467) 0 (91,391) (3,427,666)

Capital share transactions Receipts from shares issued ...... 563,842 75,519,949 135 497,913,839 97,356,727 Reinvestment of distributions ...... 68,767 465,398 0 420,980 4,892 Payments from shares redeemed ...... (49,630,922) (109,460,824) (5,731,848) (367,707,803) (79,315,804) Net increase/(decrease) in net assets resulting from capital share transactions ...... (48,998,313) (33,475,477) (5,731,713) 130,627,016 18,045,815 Total increase/(decrease) in net assets ...... 11,516,494 (15,915,338) (2,356,779) 130,627,016 51,179,823 Net assets at the beginning of the period ...... 141,054,845 193,047,059 17,371,786 843,735,821 267,909,078 Currency translation adjustment ...... Net assets at the end of the period ...... 152,571,339 177,131,721 15,015,007 974,362,837 319,088,901

The accompanying notes are an integral part of these financial statements.

112 | Wells Fargo (Lux) Worldwide Fund

Statement of operations and changes in net assets for the six months ended 30 September 2020 (unaudited) (continued)

Combined USD Income Dividends ...... 14,484,990 Interest ...... 15,981,348 Interest on reverse repurchase agreements ...... 79,811 Interest on contracts for difference ...... 1,409 Other income ...... 17,974 Total income ...... 30,565,532

Expenses Management company fees ...... 681,621 Investment management fees ...... 14,264,087 Depositary bank and administration fees ...... 1,808,862 Registrar, transfer agent and paying agent fees ...... 498,388 Directors fees and expenses ...... 103,833 Performance fees ...... 1,167 Dividend expense on contracts for difference ...... 603,537 Interest expense on swap contracts ...... 19,667 Audit fees and tax services ...... 60,847 Subscription tax ...... 343,506 Amortisation of formation expenses ...... 17,056 Legal expenses ...... 344,035 Shareholder report expenses ...... 402,597 Other expenses ...... 1,157,080 Total expenses ...... 20,306,283

Less Waived fees and/or reimbursed expenses ...... (3,095,299) Net expenses ...... 17,210,984 Net investment profit/(loss) ...... 13,354,548

Realised and unrealised profit/(loss) Net realised profit/(loss) on Investments ...... 49,713,169 Forward foreign currency contracts ...... 7,190,781 Futures contracts ...... (111,413) Written option contracts ...... (132,269) Contracts for difference ...... (18,809,391) Swap contracts ...... (69,757) Foreign currency on other transactions ...... (473,373) Net realised profit/(loss) ...... 37,307,747 Net change in unrealised appreciation/(depreciation) on Investments ...... 702,072,275 Forward foreign currency contracts ...... (586,759) Futures contracts ...... (55,249) Written option contracts ...... (20,541) Contracts for difference ...... 2,158,134 Swap contracts ...... 176,718 Foreign currency on other transactions ...... 202,274 Net change in unrealised appreciation/(depreciation) ...... 703,946,852 Net realised and unrealised profit/(loss) ...... 741,254,599 Net increase/(decrease) in net assets as a result of operations ...... 754,609,147 Distributions to shareholders from profit/(loss) ...... (6,913,373)

Capital share transactions Receipts from shares issued ...... 1,210,474,545 Reinvestment of distributions ...... 1,408,628 Payments from shares redeemed ...... (1,215,029,944) Net increase/(decrease) in net assets resulting from capital share transactions ...... (3,146,771) Total increase/(decrease) in net assets ...... 744,549,003 Net assets at the beginning of the period ...... 3,703,977,102 Currency translation adjustment ...... 24,618,216 Net assets at the end of the period ...... 4,473,144,321

The accompanying notes are an integral part of these financial statements.

Wells Fargo (Lux) Worldwide Fund | 113

Statistics (unaudited)

30 September 2020 (unaudited) 31 March 2020 31 March 2019 Alternative Risk Premia Fund1 in CCY in CCY in CCY

Total net assets (USD) ...... 34,023,401 N/A 35,539,572 Total net assets Class I (CHF) Shares-acc. (hedged) ...... 8,298 N/A8,716 Class I (EUR) Shares-acc. (hedged) ...... 7,559 N/A7,928 Class I (GBP) Shares-acc. (hedged) ...... 6,408 N/A6,703 Class I (USD) Shares-acc...... 33,998,482 N/A 35,513,345 Net asset value per share Class I (CHF) Shares-acc. (hedged) ...... 83.82 88.04 N/A Class I (EUR) Shares-acc. (hedged) ...... 83.99 88.09 N/A Class I (GBP) Shares-acc. (hedged) ...... 84.32 88.20 N/A Class I (USD) Shares-acc...... 85.06 N/A88.85

China Equity Fund

Total net assets (USD) ...... 16,722,281 16,668,201 12,088,866 Total net assets Class A (SEK) Shares-acc...... 143,707,944 114,005,429141,157,738 Class A (USD) Shares-acc...... 528,314 1,032,413 456,753 Class I (EUR) Shares-acc...... 44,252 41,647 34,398 Class I (GBP) Shares-acc...... 8,773 257,9706,664 Class I (USD) Shares-acc...... 11,579 9,6598,466 Class Z (GBP) Shares-acc...... 56,584 46,764 42,982 Net asset value per share Class A (SEK) Shares-acc...... 1,875.74 1,640.32 1,519.89 Class A (USD) Shares-acc...... 378.72 319.04 277.83 Class I (EUR) Shares-acc...... 351.21 273.00 306.23 Class I (GBP) Shares-acc...... 282.99 214.96 233.88 Class I (USD) Shares-acc...... 413.53 344.97 302.37 Class Z (GBP) Shares-acc...... 274.68 208.65 227.01

Emerging Markets Equity Fund

Total net assets (USD) ...... 432,555,042 287,334,009 243,977,759 Total net assets Class A (USD) Shares-acc...... 192,454 381,048 370,513 Class I (AUD) Shares-distr...... 4,858 22,5354,438 Class I (CHF) Shares-acc. (hedged) ...... 10,426 N/A7,972 Class I (EUR) Shares-acc...... 149,764,541 105,465,486 94,299,838 Class I (GBP) Shares-acc...... 91,618,918 100,084,761 64,315,347 Class I (USD) Shares-acc...... 138,505,576 59,675,095 38,275,789 Class Z (CHF) Shares-acc. (hedged) ...... 10,424 N/A7,972 Class Z (EUR) Shares-acc...... 9,226 N/A7,430 Class Z (GBP) Shares-acc...... 8,318 N/A6,547 Class Z (USD) Shares-acc...... 10,802 N/A8,183 Net asset value per share Class A (USD) Shares-acc...... 119.76 91.08 106.26 Class I (AUD) Shares-distr...... 202.43 184.90 186.24 Class I (CHF) Shares-acc. (hedged) ...... 106.39 N/A 81.35 Class I (EUR) Shares-acc...... 110.23 88.77 101.02 Class I (GBP) Shares-acc...... 100.18 87.03 78.83 Class I (USD) Shares-acc...... 129.33 97.97 113.40 Class Z (CHF) Shares-acc. (hedged) ...... 106.37 N/A 81.35 Class Z (EUR) Shares-acc...... 100.28 80.76 N/A Class Z (GBP) Shares-acc...... 108.03 85.02 N/A Class Z (USD) Shares-acc...... 108.02 N/A81.83

1 The Sub-Fund commenced operations on 9 December 2019.

The accompanying notes are an integral part of these financial statements.

114 | Wells Fargo (Lux) Worldwide Fund

Statistics (unaudited) (continued)

30 September 2020 (unaudited) 31 March 2020 31 March 2019 Emerging Markets Equity Income Fund in CCY in CCY in CCY

Total net assets (USD) ...... 213,119,776 316,587,056 432,021,493 Total net assets Class A (USD) Shares-acc...... 767,875 737,948 1,416,648 Class A (USD) Shares-gross distr...... 13,527,471 5,334,165 576,157 Class I (AUD) Shares-distr...... 20,836,054 21,547,915 25,862,332 Class I (CHF) Shares-distr. (hedged) ...... 9,219 7,735 N/A Class I (EUR) Shares-acc...... 2,927,069 1,329,022 8,647,003 Class I (EUR) Shares-distr...... 8,136 7,191 N/A Class I (GBP) Shares-distr...... 7,369 6,366 N/A Class I (USD) Shares-acc...... 134,520,014 261,806,177 376,171,453 Class I (USD) Shares-gross distr...... 9,590 8,085 N/A Class X (GBP) Shares-acc...... 10,773 8,619 9,272 Class Y (EUR) Shares-gross distr...... 594,144 520,248 9,512 Class Y (GBP) Shares-gross distr...... 34,943,125 26,821,710 19,760,681 Class Y (USD) Shares-gross distr...... 62,303 9,926 13,124 Class Z (CHF) Shares-distr. (hedged) ...... 9,219 7,735 N/A Class Z (EUR) Shares-distr...... 8,135 7,191 N/A Class Z (GBP) Shares-acc...... 9,154 11,391 9,423 Class Z (GBP) Shares-distr...... 7,369 6,365 N/A Class Z (USD) Shares-distr...... 9,553 7,943 N/A Net asset value per share Class A (USD) Shares-acc...... 120.30 99.32 126.43 Class A (USD) Shares-gross distr...... 100.28 84.75 111.81 Class I (AUD) Shares-distr...... 129.98 128.98 145.41 Class I (CHF) Shares-distr. (hedged) ...... 94.07 78.93 N/A Class I (EUR) Shares-acc...... 109.37 95.62 118.74 Class I (EUR) Shares-distr...... 88.43 78.16 N/A Class I (GBP) Shares-distr...... 95.70 82.67 N/A Class I (USD) Shares-acc...... 128.25 105.47 133.21 Class I (USD) Shares-gross distr...... 122.95 103.65 N/A Class X (GBP) Shares-acc...... 96.19 82.09 98.64 Class Y (EUR) Shares-gross distr...... 85.39 75.86 97.06 Class Y (GBP) Shares-gross distr...... 82.38 71.63 89.29 Class Y (USD) Shares-gross distr...... 84.08 70.40 93.08 Class Z (CHF) Shares-distr. (hedged) ...... 94.07 78.93 N/A Class Z (EUR) Shares-distr...... 88.42 78.16 N/A Class Z (GBP) Shares-acc...... 99.50 85.01 102.42 Class Z (GBP) Shares-distr...... 95.70 82.66 N/A Class Z (USD) Shares-distr...... 95.53 79.43 N/A

EUR Investment Grade Credit Fund

Total net assets (EUR) ...... 103,868,303 96,435,500 109,230,544 Total net assets Class A (EUR) Shares-distr...... 9,124 8,423 N/A Class I (CHF) Shares-acc. (hedged) ...... 109,913,071 101,126,235 119,760,072 Class I (EUR) Shares-acc...... 2,064,249 1,148,683 9,250 Class I (EUR) Shares-distr...... 7,889 8,729 1,999,780 Class Z (EUR) Shares-distr...... 9,128 8,427 N/A Net asset value per share Class A (EUR) Shares-distr...... 99.17 91.55 N/A Class I (CHF) Shares-acc. (hedged) ...... 106.20 97.71 101.84 Class I (EUR) Shares-acc...... 107.85 99.05 102.78 Class I (EUR) Shares-distr...... 87.66 96.99 101.05 Class Z (EUR) Shares-distr...... 99.22 91.60 N/A

The accompanying notes are an integral part of these financial statements.

Wells Fargo (Lux) Worldwide Fund | 115

Statistics (unaudited) (continued)

30 September 2020 (unaudited) 31 March 2020 31 March 2019 EUR Short Duration Credit Fund in CCY in CCY in CCY

Total net assets (EUR) ...... 283,891,495 12,149,056 219,223,744 Total net assets Class A (EUR) Shares-acc...... 9,125 N/A8,667 Class A (EUR) Shares-distr...... 9,125 N/A8,667 Class I (EUR) Shares-acc...... 29,890,051 17,876,368486,051 Class I (EUR) Shares-distr...... 11,219,174 8,337,4329,060,174 Class I (GBP) Shares-acc. (hedged) ...... 1,215 1,148 2,240,736 Class X (EUR) Shares-acc...... 219,198,287 N/A 183,168,956 Class X (EUR) Shares-distr...... 2,516,329 N/A 2,187,698 Class X (GBP) Shares-distr. (hedged) ...... 7,891 N/A7,464 Class X (USD) Shares-acc. (hedged) ...... 10,520 N/A9,910 Class X1 (EUR) Shares-acc...... 21,005,909 7,594,798N/A Class X1 (USD) Shares-acc. (hedged) ...... 10,504 9,900 N/A Class Z (EUR) Shares-acc...... 9,151 N/A8,672 Class Z (EUR) Shares-distr...... 9,145 N/A8,672 Net asset value per share Class A (EUR) Shares-acc...... 99.18 N/A 94.21 Class A (EUR) Shares-distr...... 99.18 N/A 94.21 Class I (EUR) Shares-acc...... 1,254.83 1,189.30 1,236.77 Class I (EUR) Shares-distr...... 1,046.76 995.99 1,041.16 Class I (GBP) Shares-acc. (hedged) ...... 1,214.52 1,181.20 1,148.26 Class X (EUR) Shares-acc...... 101.68 96.30 N/A Class X (EUR) Shares-distr...... 99.89 N/A 94.64 Class X (GBP) Shares-distr. (hedged) ...... 102.48 N/A96.94 Class X (USD) Shares-acc. (hedged) ...... 105.20 99.10 N/A Class X1 (EUR) Shares-acc...... 101.52 96.20 N/A Class X1 (USD) Shares-acc. (hedged) ...... 105.04 99.00 N/A Class Z (EUR) Shares-acc...... 99.47 N/A 94.26 Class Z (EUR) Shares-distr...... 99.40 N/A94.26

Global Equity Fund

Total net assets (USD) ...... 72,632,444 49,089,113220,688,174 Total net assets Class A (USD) Shares-acc...... 28,534 152,159171,958 Class I (EUR) Shares-acc. (hedged) ...... 8,728 N/A7,024 Class I (USD) Shares-acc...... 72,396,958 48,762,831220,296,288 Class Z (GBP) Shares-acc...... 151,167 132,824169,951 Net asset value per share Class A (USD) Shares-acc...... 159.41 127.33152.31 Class I (EUR) Shares-acc. (hedged) ...... 94.87 N/A76.35 Class I (USD) Shares-acc...... 175.39 165.69 139.58 Class Z (GBP) Shares-acc...... 248.63 205.61232.81

Global Equity Absolute Return Fund1

Total net assets (USD) ...... N/A 10,471,767 114,822,652 Total net assets Class IP (EUR) Shares-acc. (hedged) ...... N/A N/A 10,313,974 Class IP (USD) Shares-acc...... N/A 9,988,214 9,518 Class Y (EUR) Shares-acc. (hedged) ...... N/A 91,764,950430,850 Class ZP (GBP) Shares-acc. (hedged) ...... N/A 7,101 235,031 Net asset value per share Class IP (EUR) Shares-acc. (hedged) ...... N/A N/A 97.32 Class IP (USD) Shares-acc...... N/A 91.33 95.18 Class Y (EUR) Shares-acc. (hedged) ...... N/A 92.9986.17 Class ZP (GBP) Shares-acc. (hedged) ...... N/A 91.04 96.88 1 The Sub-Fund liquidated on 12 May 2020.

The accompanying notes are an integral part of these financial statements.

116 | Wells Fargo (Lux) Worldwide Fund

Statistics (unaudited) (continued)

30 September 2020 (unaudited) 31 March 2020 31 March 2019 Global Equity Enhanced Income Fund1 in CCY in CCY in CCY

Total net assets (USD) ...... 31,177,326 N/A N/A Total net assets Class A (USD) Shares-distr...... 10,142 N/A N/A Class I (USD) Shares-distr...... 10,157 N/A N/A Class X (USD) Shares-gross distr...... 31,155,709 N/A N/A Net asset value per share Class A (USD) Shares-distr...... 101.42 N/A N/A Class I (USD) Shares-distr...... 101.57 N/A N/A Class X (USD) Shares-gross distr...... 101.64 N/A N/A

2 Global Factor Enhanced Equity Fund

Total net assets (USD) ...... 34,592,059 25,387,096 19,894,223 Total net assets Class A (USD) Shares-acc...... 10,413 8,001 N/A Class I (CHF) Shares-acc. (hedged) ...... 10,057 N/A7,796 Class I (EUR) Shares-acc. (hedged) ...... 9,441 N/A 7,316 Class I (GBP) Shares-acc...... 8,018 N/A 6,419 Class I (USD) Shares-acc...... 34,505,958 19,894,030 25,321,785 Class Z (CHF) Shares-acc. (hedged) ...... 10,057 N/A7,796 Class Z (EUR) Shares-acc. (hedged) ...... 9,441 N/A 7,316 Class Z (GBP) Shares-acc...... 8,018 N/A 6,419 Class Z (USD) Shares-acc...... 10,422 8,002 N/A Net asset value per share Class A (USD) Shares-acc...... 104.13 80.01 N/A Class I (CHF) Shares-acc. (hedged) ...... 102.62 79.55 N/A Class I (EUR) Shares-acc. (hedged) ...... 102.62 N/A 79.52 Class I (GBP) Shares-acc...... 104.13 N/A 83.36 Class I (USD) Shares-acc...... 107.18 99.97 82.29 Class Z (CHF) Shares-acc. (hedged) ...... 102.62 79.55 N/A Class Z (EUR) Shares-acc. (hedged) ...... 102.62 N/A 79.52 Class Z (GBP) Shares-acc...... 104.13 N/A 83.36 Class Z (USD) Shares-acc...... 104.22 80.02 N/A

Global Investment Grade Credit Fund3

Total net assets (USD) ...... 46,156,151 ,853 N/A 40,081 Total net assets Class I (CHF) Shares-distr. (hedged) ...... 10,234 N/A 9,438 Class I (EUR) Shares-distr. (hedged) ...... 9,335 N/A 8,595 Class I (GBP) Shares-distr. (hedged) ...... 3,389,210 N/A 1,461,827 Class I (USD) Shares-distr...... 41,718,864 N/A 38,209,017 Class Z (CHF) Shares-distr. (hedged) ...... 10,234 N/A 9,438 Class Z (EUR) Shares-distr. (hedged) ...... 9,335 N/A 8,595 Class Z (GBP) Shares-distr. (hedged) ...... 8,043 N/A 7,387 Class Z (USD) Shares-distr...... 10,448 N/A 9,569 Net asset value per share Class I (CHF) Shares-distr. (hedged) ...... 102.34 N/A 94.38 Class I (EUR) Shares-distr. (hedged) ...... 102.58 N/A 94.45 Class I (GBP) Shares-distr. (hedged) ...... 103.21 94.77 N/A Class I (USD) Shares-distr...... 104.48 95.69 N/A Class Z (CHF) Shares-distr. (hedged) ...... 102.34 N/A 94.38 Class Z (EUR) Shares-distr. (hedged) ...... 102.58 N/A 94.45 Class Z (GBP) Shares-distr. (hedged) ...... 103.11 94.70 N/A Class Z (USD) Shares-distr...... 104.48 95.69 N/A 1 The Sub-Fund commenced operations on 16 July 2020. 2 The Sub-Fund commenced operations on 15 March 2019. 3 The Sub-Fund commenced operations on 8 November 2019.

The accompanying notes are an integral part of these financial statements.

Wells Fargo (Lux) Worldwide Fund | 117

Statistics (unaudited) (continued)

30 September 2020 (unaudited) 31 March 2020 31 March 2019 Global Long/Short Equity Fund in CCY in CCY in CCY

Total net assets (USD) ...... 128,088,881 142,526,605 204,667,325 Total net assets Class AP (USD) Shares-acc...... 783,703 1,364,0833,900,866 Class IP (CHF) Shares-acc. (hedged) ...... 10,591 N/A9,158 Class IP (EUR) Shares-acc. (hedged) ...... 12,655,771 19,341,67211,920,502 Class IP (EUR) Shares-distr...... 987,846 7,853,555 938,126 Class IP (GBP) Shares-acc...... 3,816,269 2,808,9036,004,362 Class IP (USD) Shares-acc...... 106,256,713 115,255,939170,762,921 Class ZP (CHF) Shares-acc. (hedged) ...... 10,591 N/A9,158 Class ZP (EUR) Shares-acc. (hedged) ...... 69,811 N/A8,592 Class ZP (GBP) Shares-acc...... 8,564 N/A7,639 Class ZP (USD) Shares-acc...... 11,050 N/A9,488 Net asset value per share Class AP (USD) Shares-acc...... 101.74 96.94 86.68 Class IP (CHF) Shares-acc. (hedged) ...... 109.19 N/A 94.41 Class IP (EUR) Shares-acc. (hedged) ...... 92.17 90.19 78.78 Class IP (EUR) Shares-distr...... 87.42 83.02 91.70 Class IP (GBP) Shares-acc...... 83.56 78.0073.68 Class IP (USD) Shares-acc...... 109.03 92.55 102.74 Class ZP (CHF) Shares-acc. (hedged) ...... 109.19 N/A 94.41 Class ZP (EUR) Shares-acc. (hedged) ...... 108.91 N/A 94.42 Class ZP (GBP) Shares-acc...... 109.79 N/A97.94 Class ZP (USD) Shares-acc...... 110.50 N/A94.88

Global Low Volatility Equity Fund

Total net assets (USD) ...... 7,283,375 15,357,006 9,716,912 Total net assets Class A (USD) Shares-acc...... 11,107 N/A9,398 Class I (CHF) Shares-acc. (hedged) ...... 9,677 N/A8,246 Class I (EUR) Shares-acc...... 5,600,334 8,378,44013,654,587 Class I (GBP) Shares-acc...... 8,314 8,2357,192 Class I (USD) Shares-acc...... 640,291 460,78011,310 Class Z (CHF) Shares-acc. (hedged) ...... 9,677 N/A8,246 Class Z (EUR) Shares-acc. (hedged) ...... 9,491 N/A8,074 Class Z (GBP) Shares-acc...... 7,801 N/A6,868 Class Z (USD) Shares-acc...... 10,123 N/A8,547 Net asset value per share Class A (USD) Shares-acc...... 100.97 N/A85.44 Class I (CHF) Shares-acc. (hedged) ...... 99.76 85.01 N/A Class I (EUR) Shares-acc...... 10.18 10.819.19 Class I (GBP) Shares-acc...... 16.43 16.57 14.47 Class I (USD) Shares-acc...... 14.72 14.96 12.43 Class Z (CHF) Shares-acc. (hedged) ...... 99.76 85.01 N/A Class Z (EUR) Shares-acc. (hedged) ...... 99.90 84.99 N/A Class Z (GBP) Shares-acc...... 100.01 88.05 N/A Class Z (USD) Shares-acc...... 101.23 N/A 85.47

The accompanying notes are an integral part of these financial statements.

118 | Wells Fargo (Lux) Worldwide Fund

Statistics (unaudited) (continued)

30 September 2020 (unaudited) 31 March 2020 31 March 2019 Global Multi-Asset Income Fund1 in CCY in CCY in CCY

Total net assets (USD) ...... N/A 89,431,741 103,916,479 Total net assets Class A (EUR) Shares-distr. (hedged) ...... N/A 7,573 9,053 Class I (EUR) Shares-distr. (hedged) ...... N/A 8,551,055 9,057 Class I (GBP) Shares-distr. (hedged) ...... N/A 9,820,863 8,261 Class I (USD) Shares-distr...... N/A 67,787,078 103,878,432 Class Z (USD) Shares-distr...... N/A 8,848 10,392 Net asset value per share Class A (EUR) Shares-distr. (hedged) ...... N/A 86.06 102.87 Class I (EUR) Shares-distr. (hedged) ...... N/A 86.65 102.92 Class I (GBP) Shares-distr. (hedged) ...... N/A 87.41 103.26 Class I (USD) Shares-distr...... N/A 88.43 103.92 Class Z (USD) Shares-distr...... N/A 88.48 103.92

Global Opportunity Bond Fund2

Total net assets (USD) ...... N/A 25,095,682 19,223,577 Total net assets Class A (EUR) Shares-acc. (hedged) ...... N/A 121,243 116,557 Class A (USD) Shares-acc...... N/A 215,814 115,823 Class I (EUR) Shares-acc. (hedged) ...... N/A 8,523 8,157 Class I (GBP) Shares-acc. (hedged) ...... N/A 3,803,158 3,596,482 Class I (USD) Shares-acc...... N/A 20,013,068 14,283,389 Net asset value per share Class A (EUR) Shares-acc. (hedged) ...... N/A 84.08 80.83 Class A (USD) Shares-acc...... N/A 119.83 111.69 Class I (EUR) Shares-acc. (hedged) ...... N/A 85.23 81.57 Class I (GBP) Shares-acc. (hedged) ...... N/A 72.87 68.91 Class I (USD) Shares-acc...... N/A 124.55 115.51

Global Small Cap Equity Fund3

Total net assets (USD) ...... 4,641,557 3,819,844 N/A Total net assets Class I (CHF) Shares-acc. (hedged) ...... 8,967 7,449 N/A Class I (EUR) Shares-acc...... 7,943 6,950 N/A Class I (GBP) Shares-acc...... 7,227 6,180 N/A Class I (USD) Shares-acc...... 4,613,154 3,796,583 N/A Net asset value per share Class I (CHF) Shares-acc. (hedged) ...... 91.50 76.01 N/A Class I (EUR) Shares-acc...... 85.41 74.73 N/A Class I (GBP) Shares-acc...... 92.66 79.23 N/A Class I (USD) Shares-acc...... 92.82 76.39 N/A

1 The Sub-Fund liquidated on 12 May 2020. 2 The Sub-Fund liquidated on 27 August 2020. 3 The Sub-Fund commenced operations on 20 February 2020.

The accompanying notes are an integral part of these financial statements.

Wells Fargo (Lux) Worldwide Fund | 119

Statistics (unaudited) (continued)

30 September 2020 (unaudited) 31 March 2020 31 March 2019 Small Cap Innovation Fund1 in CCY in CCY in CCY

Total net assets (USD) ...... 5,873,874 3,628,353 N/A Total net assets Class I (CHF) Shares-acc. (hedged) ...... 11,295 7,071 N/A Class I (EUR) Shares-acc. (hedged) ...... 10,697 6,699 N/A Class I (GBP) Shares-acc...... 9,122 5,870 N/A Class I (USD) Shares-acc...... 5,787,210 3,584,464 N/A Class Z (EUR) Shares-acc. (hedged) ...... 10,697 6,699 N/A Class Z (GBP) Shares-acc...... 20,231 5,870 N/A Class Z (USD) Shares-acc...... 11,715 7,256 N/A Net asset value per share Class I (CHF) Shares-acc. (hedged) ...... 115.26 72.15 N/A Class I (EUR) Shares-acc. (hedged) ...... 115.02 72.03 N/A Class I (GBP) Shares-acc...... 116.95 75.25 N/A Class I (USD) Shares-acc...... 117.15 72.56 N/A Class Z (EUR) Shares-acc. (hedged) ...... 115.02 72.03 N/A Class Z (GBP) Shares-acc...... 116.94 75.25 N/A Class Z (USD) Shares-acc...... 117.15 72.56 N/A

U.S. All Cap Growth Fund

Total net assets (USD) ...... 1,099,263,650 708,656,136 707,262,516 Total net assets Class A (EUR) Shares-acc. (hedged) ...... 1,589,026 825,582 10,851 Class A (GBP) Shares-acc...... 1,030,488 791,558 816,511 Class A (SGD) Shares-acc. (hedged) ...... 17,867 11,976 N/A Class A (USD) Shares-acc...... 121,671,633 85,882,554 97,209,790 Class I (CHF) Shares-acc. (hedged) ...... 12,492 8,364 N/A Class I (EUR) Shares-acc...... 124,433,114 61,614,414 17,809,928 Class I (EUR) Shares-acc. (hedged) ...... 4,028,802 2,697,803 N/A Class I (GBP) Shares-acc...... 10,588,293 3,032,110 3,566,911 Class I (USD) Shares-acc...... 625,773,436 438,925,940 443,591,554 Class Z (EUR) Shares-acc. (hedged) ...... 22,485,588 3,215,731 174,906 Class Z (GBP) Shares-acc...... 20,091,323 13,632,948 14,918,430 Class Z (GBP) Shares-distr...... 900,216 622,010 944,886 Class Z (USD) Shares-acc...... 48,283,126 30,798,441 29,512,623 Class Z (USD) Shares-distr...... 82,587,749 55,187,863 90,390,125 Net asset value per share Class A (EUR) Shares-acc. (hedged) ...... 148.23 99.72 108.51 Class A (GBP) Shares-acc...... 559.44 387.07 389.00 Class A (SGD) Shares-acc. (hedged) ...... 128.54 86.16 N/A Class A (USD) Shares-acc...... 449.18 299.16 315.26 Class I (CHF) Shares-acc. (hedged) ...... 128.78 86.23 N/A Class I (EUR) Shares-acc...... 424.43 299.24 307.46 Class I (EUR) Shares-acc. (hedged) ...... 125.79 84.23 N/A Class I (GBP) Shares-acc...... 615.67 424.19 422.72 Class I (USD) Shares-acc...... 497.61 330.02 344.88 Class Z (EUR) Shares-acc. (hedged) ...... 147.52 98.83 106.65 Class Z (GBP) Shares-acc...... 598.33 412.32 411.01 Class Z (GBP) Shares-distr...... 598.15 412.20 410.82 Class Z (USD) Shares-acc...... 478.89 317.68 332.11 Class Z (USD) Shares-distr...... 479.47 318.06 332.50

1 The Sub-Fund commenced operations on 20 February 2020.

The accompanying notes are an integral part of these financial statements.

120 | Wells Fargo (Lux) Worldwide Fund

Statistics (unaudited) (continued)

30 September 2020 (unaudited) 31 March 2020 31 March 2019 U.S. High Yield Bond Fund in CCY in CCY in CCY

Total net assets (USD) ...... 70,313,778 56,148,099 180,745,290 Total net assets Class A (USD) Shares-acc...... 871,749 920,905 597,190 Class A (USD) Shares-gross distr...... 4,253,063 292,216 452,848 Class I (CHF) Shares-distr. (hedged) ...... 9,312 N/A 8,493 Class I (EUR) Shares-acc...... 46,395,140 36,243,232 40,548,234 Class I (EUR) Shares-acc. (hedged) ...... 10,006 1,617,3528,887 Class I (EUR) Shares-distr. (hedged) ...... 8,748 7,970 N/A Class I (GBP) Shares-acc. (hedged) ...... 97,407 N/A 86,272 Class I (GBP) Shares-distr. (hedged) ...... 7,514 N/A 6,829 Class I (USD) Shares-acc...... 10,487,114 133,187,144 10,095,383 Class I (USD) Shares-gross distr...... 6,478 3,813,993 31,996 Class X (GBP) Shares-acc...... 30,569 7,991 21,240 Class Z (EUR) Shares-distr. (hedged) ...... 8,748 7,970 N/A Class Z (GBP) Shares-acc...... 48,346 37,721 45,151 Class Z (GBP) Shares-distr. (hedged) ...... 7,514 N/A 6,829 Class Z (USD) Shares-distr...... 9,717 N/A 8,796 Net asset value per share Class A (USD) Shares-acc...... 194.37 172.20 189.02 Class A (USD) Shares-gross distr...... 137.20 144.59124.58 Class I (CHF) Shares-distr. (hedged) ...... 96.00 87.56 N/A Class I (EUR) Shares-acc...... 184.05 172.65 184.79 Class I (EUR) Shares-acc. (hedged) ...... 169.59 169.02150.62 Class I (EUR) Shares-distr. (hedged) ...... 96.13 N/A 87.58 Class I (GBP) Shares-acc. (hedged) ...... 98.59 N/A87.32 Class I (GBP) Shares-distr. (hedged) ...... 96.33 87.55 N/A Class I (USD) Shares-acc...... 215.35 190.02 206.83 Class I (USD) Shares-gross distr...... 93.88 171.40 148.82 Class X (GBP) Shares-acc...... 113.64 107.99 104.12 Class Z (EUR) Shares-distr. (hedged) ...... 96.13 N/A 87.58 Class Z (GBP) Shares-acc...... 181.75 173.03166.61 Class Z (GBP) Shares-distr. (hedged) ...... 96.33 87.55 N/A Class Z (USD) Shares-distr...... 97.17 87.96 N/A

U.S. Large Cap Growth Fund

Total net assets (USD) ...... 183,901,946 114,010,491 120,471,479 Total net assets Class A (USD) Shares-acc...... 10,813,348 5,310,353 6,535,532 Class I (EUR) Shares-acc...... 127,238,905 96,516,54297,109,126 Class I (EUR) Shares-acc. (hedged) ...... 10,843 7,907 N/A Class I (USD) Shares-acc...... 23,799,546 350,427 6,747,173 Class Z (GBP) Shares-acc...... 74,303 62,273 63,493 Net asset value per share Class A (USD) Shares-acc...... 343.27 242.87 249.21 Class I (EUR) Shares-acc...... 325.81 250.40 237.93 Class I (EUR) Shares-acc. (hedged) ...... 117.86 85.95 N/A Class I (USD) Shares-acc...... 381.96 266.89276.15 Class Z (GBP) Shares-acc...... 485.64 364.90 336.61

The accompanying notes are an integral part of these financial statements.

Wells Fargo (Lux) Worldwide Fund | 121

Statistics (unaudited) (continued)

30 September 2020 (unaudited) 31 March 2020 31 March 2019 U.S. Select Equity Fund in CCY in CCY in CCY

Total net assets (USD) ...... 152,571,339 257,723,756 141,054,845 Total net assets Class A (EUR) Shares-acc...... 10,510 37,614 15,863 Class A (USD) Shares-acc...... 131,391 5,136,865 138,360 Class I (EUR) Shares-acc. (hedged) ...... 9,027 10,4426,431 Class I (GBP) Shares-acc...... 7,529 N/A5,502 Class I (USD) Shares-acc...... 129,911,486 222,179,795 123,277,266 Class X (USD) Shares-distr...... 22,475,601 30,348,569 17,593,470 Class Z (EUR) Shares-acc. (hedged) ...... 8,819 N/A6,284 Class Z (GBP) Shares-acc...... 7,528 N/A5,502 Net asset value per share Class A (EUR) Shares-acc...... 105.10 122.9278.92 Class A (USD) Shares-acc...... 109.31 122.0177.21 Class I (EUR) Shares-acc. (hedged) ...... 101.43 117.3372.26 Class I (GBP) Shares-acc...... 97.78 N/A 71.46 Class I (USD) Shares-acc...... 114.31 126.3180.42 Class X (USD) Shares-distr...... 115.35 81.40 127.53 Class Z (EUR) Shares-acc. (hedged) ...... 95.86 68.30 N/A Class Z (GBP) Shares-acc...... 97.76 N/A71.46

U.S. Short-Term High Yield Bond Fund

Total net assets (USD) ...... 177,131,721 193,047,059 266,115,744 Total net assets Class A (USD) Shares-acc...... 1,236,066 1,105,706 1,755,587 Class I (EUR) Shares-distr. (hedged) ...... 4,134,058 3,799,3509,365 Class I (GBP) Shares-distr. (hedged) ...... 22,698,451 18,993,452 18,247,280 Class I (USD) Shares-acc...... 126,012,552 229,703,584 158,737,188 Class I (USD) Shares-gross distr...... 15,709,140 5,645,17410,506,329 Class X (GBP) Shares-acc...... 20,529 11,411 11,852 Class Z (EUR) Shares-distr. (hedged) ...... 9,099 N/A8,628 Net asset value per share Class A (USD) Shares-acc...... 119.89 114.46 111.35 Class I (EUR) Shares-distr. (hedged) ...... 51.08 72.3366.42 Class I (GBP) Shares-distr. (hedged) ...... 64.15 60.65 65.24 Class I (USD) Shares-acc...... 128.36 121.02 118.72 Class I (USD) Shares-gross distr...... 108.98 109.21 102.98 Class X (GBP) Shares-acc...... 115.33 110.77 107.65 Class Z (EUR) Shares-distr. (hedged) ...... 99.99 N/A94.81

U.S. Small Cap Value Fund

Total net assets (USD) ...... 15,015,007 32,168,88017,371,786 Total net assets Class I (GBP) Shares-acc...... 66,336 326,92866,190 Class I (USD) Shares-acc...... 14,894,395 27,646,084 17,260,472 Class X (GBP) Shares-acc. (hedged) ...... 5,909 382,6004,989 Class Z (GBP) Shares-acc. (hedged) ...... 8,496 14,0977,183 Class Z (USD) Shares-acc...... 15,829 3,579,585 13,207 Net asset value per share Class I (GBP) Shares-acc...... 80.31 69.60 94.08 Class I (USD) Shares-acc...... 108.12 127.9190.19 Class X (GBP) Shares-acc. (hedged) ...... 77.75 65.65 95.65 Class Z (GBP) Shares-acc. (hedged) ...... 74.53 63.01 92.14 Class Z (USD) Shares-acc...... 108.42 127.9290.46

The accompanying notes are an integral part of these financial statements.

122 | Wells Fargo (Lux) Worldwide Fund

Statistics (unaudited) (continued)

30 September 2020 (unaudited) 31 March 2020 31 March 2019 USD Government Money Market Fund in CCY in CCY in CCY

Total net assets (USD) ...... 974,362,837 843,735,821 631,101,597 Total net assets Class I (USD) Shares-distr...... 14,167,318 49,140,364 136,646,521 Service Class (USD) Shares-distr...... 960,195,519 794,595,457 494,455,077 Net asset value per share Class I (USD) Shares-distr...... 1.00 1.00 1.00 Service Class (USD) Shares-distr...... 1.00 1.00 1.00

USD Investment Grade Credit Fund

Total net assets (USD) ...... 319,088,901 267,909,078 275,757,702 Total net assets Class A (USD) Shares-acc...... 5,356,447 2,335,550 587,658 Class A (USD) Shares-distr...... 10,232 9,424 N/A Class I (CHF) Shares-distr. (hedged) ...... 9,898 9,180 N/A Class I (EUR) Shares-acc. (hedged) ...... 9,964 N/A N/A Class I (EUR) Shares-distr. (hedged) ...... 57,346,080 70,336,044 70,221,093 Class I (GBP) Shares-distr. (hedged) ...... 173,731 7,206 N/A Class I (JPY) Shares-acc. (hedged) ...... 1,348,924,970 1,042,194,949 870,677,746 Class I (SGD) Shares-acc. (hedged) ...... 11,015 10,016 N/A Class I (USD) Shares-acc...... 80,204,077 56,744,288 51,966,778 Class I (USD) Shares-distr...... 113,856,235 82,560,266 101,745,362 Class Y (EUR) Shares-gross distr. (hedged) ...... 1,587,552 1,971,668 4,803,383 Class Y (GBP) Shares-gross distr. (hedged) ...... 450,816 295,413 594,941 Class Y (USD) Shares-gross distr...... 36,903,887 36,399,325 28,666,617 Class Z (EUR) Shares-distr. (hedged) ...... 9,303 8,615 N/A Class Z (GBP) Shares-distr. (hedged) ...... 7,804 7,206 N/A Class Z (USD) Shares-distr...... 10,237 9,428 N/A Net asset value per share Class A (USD) Shares-acc...... 128.16 116.69 109.74 Class A (USD) Shares-distr...... 102.32 94.24 N/A Class I (CHF) Shares-distr. (hedged) ...... 101.00 93.67 N/A Class I (EUR) Shares-acc. (hedged) ...... 99.64 N/A N/A Class I (EUR) Shares-distr. (hedged) ...... 105.60 97.79 97.70 Class I (GBP) Shares-distr. (hedged) ...... 101.36 93.58 N/A Class I (JPY) Shares-acc. (hedged) ...... 11,762.00 10,732.66 10,379.05 Class I (SGD) Shares-acc. (hedged) ...... 110.15 100.16 N/A Class I (USD) Shares-acc...... 130.63 118.63 111.01 Class I (USD) Shares-distr...... 116.23 107.03 103.47 Class Y (EUR) Shares-gross distr. (hedged) ...... 99.89 92.78 95.19 Class Y (GBP) Shares-gross distr. (hedged) ...... 85.14 78.84 96.55 Class Y (USD) Shares-gross distr...... 115.77 106.66 103.64 Class Z (EUR) Shares-distr. (hedged) ...... 101.12 93.64 N/A Class Z (GBP) Shares-distr. (hedged) ...... 101.35 93.58 N/A Class Z (USD) Shares-distr...... 102.37 94.28 N/A

The accompanying notes are an integral part of these financial statements.

Wells Fargo (Lux) Worldwide Fund | 123

Notes to financial statements (unaudited)

1. ORGANISATION Wells Fargo (Lux) Worldwide Fund (the “Fund”) was incorporated for an unlimited period on 20 March 2008 as a société anonyme under the laws of the Grand Duchy of Luxembourg and qualifies as an open-ended Société d’Investissement à Capital Variable under part I of the Grand Duchy of Luxembourg law dated 17 December 2010 concerning undertakings for collective investment in transferable securities, as amended. The Fund is registered with the Registre de Commerce et des Sociétés of Luxembourg under Number B 137.479.

The Fund has adopted an umbrella structure, which allows its capital to be divided into different portfolios of securities and other assets permitted by law with specific investment objectives and various risks or other characteristics (each a “Sub-Fund”, collectively the “Sub-Funds”).

Since 21 March 2019, USD Government Money Market Fund qualifies as a money market fund within the meaning of Regulation (EU) 2017/1131 of 14 June 2017 on money market funds and more specifically as a short-term public debt constant net asset value (“NAV”) per share money market fund.

During the six months ended 30 September 2020, Global Equity Enhanced Income Fund commenced operations on 16 July 2020. During the six months ended 30 September 2020, the following Sub-Funds liquidated:

Sub-Fund Liquidation date Global Equity Absolute Return Fund 12/5/2020 Global Multi-Asset Income Fund 12/5/2020 Global Opportunity Bond Fund 27/8/2020

The liquidated Sub-Funds retained cash to pay post liquidation expense invoices. As at 30 September 2020, Global Multi-Asset Income Fund and Global Opportunity Bond Fund held USD 35,795 and USD 102,498, respectively.

2. SIGNIFICANT ACCOUNTING POLICIES The accompanying financial statements have been prepared in accordance with Luxembourg legal and regulatory requirements relating to undertakings for collective investment in transferable securities and with generally accepted accounting principles. The financial statements are expressed in the base currency of the Fund, which is USD. The base currency of each Sub-Fund, except EUR Investment Grade Credit Fund and EUR Short Duration Credit Fund, is USD. The base currency for EUR Investment Grade Credit Fund and EUR Short Duration Credit Fund is EUR. The NAV per share as calculated on 30 September 2020 is based on the last available market prices of the investments in which the respective Sub-Funds are invested as at 30 September 2020. Investment valuations Investments generally are valued each business day as of the close of regular trading on the New York Stock Exchange (“NYSE”) (generally 4:00 p.m. U.S. Eastern Time). The USD Government Money Market Fund is subject to the valuation principles as set out under the heading “Money Market Funds” in the Fund’s prospectus.

Equity securities, options and futures contracts that are listed on an exchange or market are valued at the official closing price or, if none, the last sales price. If no sale occurs on the primary exchange or market for the security that day, fair value price will be determined in accordance with the Fund’s Pricing and Valuation Policies & Procedures.

Unlisted securities, for which over-the-counter market quotations are readily available (including listed securities for which the primary market is believed to be the over-the-counter market), are valued at a price equal to the last reported price as supplied by the recognised quotation services or broker-dealers.

Forward foreign currency contracts are recorded at the forward rate provided by an independent foreign currency pricing source each business day.

Many securities markets and exchanges outside the U.S. close prior to the close of the NYSE and therefore may not fully reflect trading or events that occur after the close of the principal exchange in which the non-U.S. securities are traded, but before the close of the NYSE. If such trading or events are expected to materially affect the value of securities, then fair value pricing procedures approved by the Board of Directors of the Fund (the “Board of Directors”) are applied. These procedures take into account multiple factors, including movements in U.S. securities markets after non-U.S. exchanges close. Depending on market activity, such fair valuations may be frequent. Such fair value pricing may result in NAVs that are higher or lower than NAVs based on the last reported sales price or latest quoted bid price.

124 | Wells Fargo (Lux) Worldwide Fund

Notes to financial statements (unaudited) (continued)

Debt securities are valued at the evaluated bid price provided by an independent pricing service (e.g. taking into account various factors, including yields, maturities or credit ratings) or, if a reliable price is not available, the quoted bid price from an independent broker-dealer. Short-term securities, with remaining maturities of 60 days or less at the time of purchase, generally are valued at amortised cost which approximates fair value. The amortised cost method involves valuing a security at its cost, plus accretion of discount or minus amortisation of premium over the period until maturity. The values of securities not denominated in the base currency of each Sub-Fund are converted to the applicable currency at rates provided by an independent currency pricing source. Investments which are not valued using any of the methods discussed above are valued at their fair value, in accordance with the Fund’s Pricing and Valuation Policies & Procedures established in good faith and approved by the Board of Directors. Cash, bills and demand notes, accounts receivable, prepaid expenses, cash dividends, bank interest, dividends and bonds are valued at nominal value. Repurchase agreements and reverse repurchase agreements Certain Sub-Funds may enter into repurchase agreements and reverse repurchase agreements. Repurchase agreements are similar to secured borrowings of cash valued not more than the sales price of a portfolio of securities representing the collateral. The underlying securities are accounted for in the investment portfolio of a Sub-Fund, which remains exposed to the risk of depreciation in value. Reverse repurchase agreements are similar to secured lending of cash and must be fully collateralised based on values that are marked to market daily. The collateral may be held by an agent bank under a tri-party agreement. It is the responsibility of the Fund’s depositary bank and administrator to value the collateral daily and to take action to obtain additional collateral as necessary to maintain a market value equal to or greater than the resale price. The reverse repurchase agreements are fully collateralised by U.S. Government obligations and cash deposits. There could be potential loss to a Sub-Fund in the event that the Sub-Fund is delayed or prevented from exercising its rights to dispose of the collateral, including the risk of a possible decline in the value of the underlying obligations during the period in which the Sub-Fund seeks to assert its rights. The value of reverse repurchase agreements and repurchase agreements are recorded in the Statement of assets and liabilities as an asset or liability, respectively. The interest on repurchase agreements and reverse repurchase agreements, if any, is included in the Statement of operations and changes in net assets. Futures contracts Certain Sub-Funds may invest in futures contracts and may be subject to interest rate risk, equity price risk or foreign currency risk in the normal course of pursuing their investment objectives. A Sub-Fund may buy and sell futures contracts in order to gain exposure to, or protect against, changes in interest rates, security values and foreign exchange rates. The primary risks associated with the use of futures contracts are the imperfect correlation between changes in market values of securities held by the Sub-Fund and the prices of futures contracts, and the possibility of an illiquid market. The aggregate principal amounts of the futures contracts are not recorded in the financial statements. Fluctuations in the value of the contracts are recorded in the Statement of assets and liabilities as an asset or liability as unrealised and in the Statement of operations and changes in net assets as a net change in unrealised appreciation/(depreciation) until the futures contracts are closed, at which point they are recorded as net realised profits or losses on futures contracts. Variation margin on futures contracts is located in the Statement of assets and liabilities as either a receivable or payable for variation margin on futures contracts. With futures contracts, there is minimal counterparty risk to the Sub-Fund since futures are exchange traded and the exchange’s clearinghouse, as counterparty to all exchange traded futures, guarantees the futures against default. Forward foreign currency contracts Certain Sub-Funds may invest in forward foreign currency contracts and may be subject to foreign currency risk in the normal course of pursuing their investment objectives. A forward foreign currency contract is an agreement between two parties to purchase or sell a specific currency for an agreed-upon price at a future date. The Sub-Fund enters into forward foreign currency contracts to facilitate transactions in non-USD or non-EUR denominated securities and to attempt to minimise the risk to the Sub-Fund from adverse changes in the relationship between currencies. Forward foreign currency contracts are recorded at the forward rate and marked to market daily. When the contracts are closed, realised profits and losses arising from such transactions are recorded as net realised profit or loss on forward foreign currency contracts. The Sub-Fund could be exposed to risks if the counterparties to the contracts are unable to meet the terms of their contracts or if the value of the foreign currency changes unfavourably. The Sub-Fund’s maximum risk of loss from counterparty credit risk is the unrealised appreciation on the

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forward foreign currency contracts. This risk may be mitigated if there is a master netting arrangement between the Sub-Fund and the counterparty. The unrealised appreciation and unrealised depreciation of the forward foreign currency contracts are recorded in the Statement of assets and liabilities as an asset or liability, respectively, and in the Statement of operations and changes in net assets as unrealised appreciation/(depreciation) until the forward foreign currency contracts are closed, at which point they are recorded as net realised profits or losses on forward foreign currency contracts. Contracts for difference Certain Sub-Funds may purchase or sell contracts for difference and may be subject to equity risk in the normal course of pursuing its investment objectives to gain exposure to an underlying security. A contract for difference is an agreement where one party pays the other an amount determined by the difference between the opening and the closing price of the underlying security. The buyer of the contract for difference pays the seller the positive difference and the seller of the contract for difference pays the buyer the negative difference. The value of the contract for difference is marked to market daily based upon quotations from an independent pricing service or an independent broker-dealer, and any change in value is recorded as an unrealised appreciation or depreciation until the contract for difference is closed, at which point it is recorded as a net realised profit or loss. Any interest accrued or dividends recorded on any underlying security during the period of the contract for difference is recorded as income for a purchase contract and as expense for a sell contract. The Sub-Fund could be exposed to risks if the counterparty defaults on its obligation to perform, or if there are unfavourable changes in the fluctuation in the price of the underlying security. Options Certain Sub-Funds are subject to equity price risk in the normal course of pursuing their investment objectives. A Sub-Fund may write covered call options or secured put options on individual securities and/or indexes. When a Sub-Fund writes an option, an amount equal to the premium received is recorded as a liability and is subsequently adjusted to the current market value of the written option. Premiums received from written options that expire unexercised are recognised as net realised profit on the expiration date. For exercised options, the difference between the premium received and the amount paid on effecting a closing purchase transaction, including brokerage commissions, is treated as a net realised loss. If a call option is exercised, the premium is added to the proceeds from the sale of the underlying security in calculating the net realised profit or loss on the sale. If a put option is exercised, the premium reduces the cost of the security purchased. A Sub-Fund, as a writer of an option, bears the market risk of an unfavourable change in the price of the security and/or index underlying the written option.

A Sub-Fund may also purchase call or put options. Premiums paid are included in the Statement of assets and liabilities as investments, the values of which are subsequently adjusted based on the current market values of the options. Premiums paid for purchased options that expire are recognised as realised losses on the expiration date. Premiums paid for purchased options that are exercised or closed are added to the amount paid or offset against the proceeds received for the underlying security to determine the net realised profit or loss. The risk of loss associated with purchased options is limited to the premium paid.

Options traded on an exchange are regulated and terms of the options are standardised. Purchased options traded over-the- counter expose a Sub-Fund to counterparty risk in the event the counterparty does not perform. This risk can be mitigated by having a master netting arrangement between the Sub-Fund and the counterparty and by having the counterparty post collateral to cover the Sub-Fund’s exposure to the counterparty. Total return basket swaps Certain Sub-Funds may enter into total return basket swap contracts to obtain exposure to a custom basket of long and short securities without owning such securities. The Sub-Fund has the ability to trade in and out of the long and short positions within the swap and receives the economic benefits and risks equivalent to direct investments in these positions. Under the terms of the contract, the Sub-Fund and the counterparty exchange periodic payments based on the total return of reference assets within a basket for a specified interest rate. Benefits and risks include capital appreciation (depreciation), corporate actions and dividends received and paid, all of which are reflected in the swap’s market value. The market value also includes interest charges and credits (“financing fees”) related to the notional values of the long and short positions and cash balances within the swap. To the extent the total return of the reference assets exceeds or falls short of the offsetting interest rate obligation, the Sub-Fund will receive a payment from, or make a payment to, the counterparty. Positions within the swap are reset periodically. During a reset, any unrealised appreciation (depreciation) on positions and accrued financing fees become available for cash settlement between the Sub-Fund and the counterparty. The amounts that are available for cash settlement are recorded as realised profit or loss on swap contracts in the Statement of Operations and Changes in Net Assets. Cash settlement in and out of the swap may occur at a reset date or any other date, at the discretion of the Sub-Fund and the counterparty, over the life of the agreement. Certain swaps have no stated expiration and can be terminated by either party at any time.

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The Sub-Fund is exposed to risks if the counterparty defaults on its obligation to perform, or if there are unfavorable changes in the fluctuation of interest rates or in the price of the reference securities in the basket. In addition to counterparty credit risk, the Sub-Fund is subject to liquidity risk if there is no market for the contracts and is exposed to the market risk associated with the reference securities in the basket. Securities transactions and income recognition Securities transactions are recorded on a trade date basis. Net realised profit or loss is based on the average cost of the securities. Dividend income is recognised on the ex-dividend rate, net of any withholding tax. Interest income is accrued daily and bond discounts and premiums are amortised daily. Foreign currency Transactions expressed in currencies other than each Sub-Fund’s base currency are translated into each Sub-Fund’s base currency at the exchange rates at the date of the transactions. Assets and liabilities in currencies other than the base currency of each Sub-Fund are translated into each Sub-Fund’s base currency at the exchange rates at the end of the period. The combined figures of the Fund are expressed in USD and include the total amounts of the financial statements of each Sub-Fund. A currency translation adjustment is included in the Statement of operations and changes in net assets in determining the results for the accounting period. For each Sub-Fund, except Global Factor Enhanced Equity Fund and Global Low Volatility Equity Fund, transactions are translated at exchange rates as of the NYSE close. For Global Factor Enhanced Equity Fund and Global Low Volatility Equity Fund, transactions are translated at exchange rates as of the London Stock Exchange (“LSE”) close. The reference currency of the Fund as reflected in the financial statements is USD. As at 30 September 2020, the USD currency exchange rates applied to each Sub-Fund except EUR Investment Grade Credit Fund, EUR Short Duration Credit Fund, Global Factor Enhanced Equity Fund and Global Low Volatility Equity Fund were as follows:

USD exchange USD exchange rate as of NYSE rate as of NYSE Currency close Currency close

AED Emirati Dirham 3.6732 JPY Japanese Yen 105.4650 AUD Australian Dollar 1.3962 KRW South Korean Won 1,169.5000 BRL Brazilian Real 5.6159 MXN Mexican Peso 22.1115 CAD Canadian Dollar 1.3316 MYR Malaysian Ringgit 4.1555 CHF Swiss Franc 0.9211 NOK Norwegian Krone 9.3275 CLP Chilean Peso 785.0650 NZD New Zealand Dollar 1.5116 CNH Chinese Yuan Renminbi (Offshore) 6.7837 PHP Philippine Peso 48.4800 CNY Chinese Yuan Renminbi 6.8106 PLN Polish Zloty 3.8654 CZK Czech Koruna 23.0776 RUB Russian Ruble 77.7050 DKK Danish Krone 6.3499 SAR Saudi Arabia Riyal 3.7509 EUR Euro 0.8529 SEK Swedish Krona 8.9559 GBP British Pound 0.7750 SGD Singapore Dollar 1.3651 HKD Hong Kong Dollar 7.7501 THB Thailand Baht 31.6875 HUF Hungarian Forint 310.1096 TRY Turkish Lira 7.7228 IDR Indonesian Rupiah 14,880.0000 TWD Taiwan Dollar 28.9620 INR Indian Rupee 73.7800 ZAR South African Rand 16.7500

As at 30 September 2020, the EUR currency exchange rates for EUR Investment Grade Credit Fund and EUR Short Duration Credit Fund were as follows:

EUR exchange rate as of NYSE Currency close

CHF Swiss Franc 1.0799 GBP British Pound 0.9086 USD United States Dollar 1.1725

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Notes to financial statements (unaudited) (continued)

As at 30 September 2020, the USD currency exchange rates for Global Factor Enhanced Equity Fund and Global Low Volatility Equity Fund were as follows:

USD exchange USD exchange rate as of LSE rate as of LSE Currency close Currency close

AUD Australian Dollar 1.3952 JPY Japanese Yen 105.5300 BRL Brazilian Real 5.6365 KRW South Korean Won 1,169.5000 CAD Canadian Dollar 1.3358 MXN Mexican Peso 22.0758 CHF Swiss Franc 0.9188 MYR Malaysian Ringgit 4.1555 CLP Chilean Peso 787.8200 NOK Norwegian Krone 9.3566 CZK Czech Koruna 23.1003 NZD New Zealand Dollar 1.5129 DKK Danish Krone 6.3478 PHP Philippine Peso 48.4800 EGP Egyptian Pound 15.7600 PLN Polish Zloty 3.8664 EUR Euro 0.8528 SEK Swedish Krona 8.9500 GBP British Pound 0.7735 SGD Singapore Dollar 1.3651 HKD Hong Kong Dollar 7.7500 THB Thailand Baht 31.6875 HUF Hungarian Forint 309.7046 TRY Turkish Lira 7.7042 IDR Indonesian Rupiah 14,880.0000 ZAR South African Rand 16.6800 ILS Israeli Shekel 3.4203

Formation expenses Initial costs and expenses of the formation of the Fund were borne by the Fund and fully amortised. The formation costs of new Sub-Funds are borne by the relevant Sub-Fund and amortised over a period not exceeding five years. 3. MANAGEMENT FEES AND TRANSACTIONS WITH RELATED PARTIES Management company fees Wells Fargo Asset Management Luxembourg S.A. (the “Management Company” and “Principal Distributor”), a wholly owned subsidiary of Wells Fargo & Company and an affiliate of Wells Fargo Funds Management, LLC (the “Investment Adviser”, and with the ultimate parent, Wells Fargo & Company, and its affiliates, collectively referred to herein as the “Group”), has been appointed as the management company of the Fund. The Fund pays the Management Company a monthly fee which does not exceed 0.04% per annum of the net assets of the Fund. The fee is subject to a minimum monthly fee of EUR 1,700 per Sub-Fund. The list of funds managed by the Management Company may be obtained, on simple request, at the registered office of the Management Company. Investment management fees The Management Company also receives an investment management fee from each Sub-Fund, payable monthly in arrears, which does not exceed a percentage per annum of the net assets of each class as follows:

Class A Class AP Class I Class IP Class Z Class ZP Service Class

Alternative Risk Premia Fund N/A N/A 0.60% N/A N/A N/A N/A China Equity Fund 1.50% N/A 0.85 N/A 0.85% N/A N/A Emerging Markets Equity Fund 1.90 N/A 1.15 N/A 1.15 N/A N/A Emerging Markets Equity Income Fund 1.85 N/A 1.10 N/A 1.10 N/A N/A EUR Investment Grade Credit Fund 0.80 N/A 0.30 N/A 0.30 N/A N/A EUR Short Duration Credit Fund 0.70 N/A 0.20 N/A 0.20 N/A N/A Global Equity Fund 1.60 N/A 0.85 N/A 0.85 N/A N/A Global Equity Absolute Return Fund1 N/A N/A N/A 0.75% N/A 0.75% N/A Global Equity Enhanced Income Fund 1.20 N/A 0.60 N/A N/A N/A N/A Global Factor Enhanced Equity Fund 0.25 N/A 0.15 N/A 0.15 N/A N/A Global Investment Grade Credit Fund N/A N/A 0.30 N/A 0.30 N/A N/A

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Notes to financial statements (unaudited) (continued)

Class A Class AP Class I Class IP Class Z Class ZP Service Class

Global Long/Short Equity Fund N/A 1.50% N/A 0.75% N/A 0.75% N/A Global Low Volatility Equity Fund 0.95% N/A 0.50% N/A 0.50% N/A N/A Global Multi-Asset Income Fund1 1.00 N/A 0.50 N/A 0.50 N/A N/A Global Opportunity Bond Fund2 0.85 N/A 0.35 N/AN/A N/A N/A Global Small Cap Equity Fund N/A N/A 0.85 N/AN/A N/A N/A Small Cap Innovation Fund N/A N/A 0.85 N/A0.85 N/A N/A U.S. All Cap Growth Fund 1.60 N/A 0.80 N/A 0.80 N/A N/A U.S. High Yield Bond Fund 1.45 N/A 0.65 N/A 0.65 N/A N/A U.S. Large Cap Growth Fund 1.50 N/A 0.70 N/A 0.75 N/A N/A U.S. Select Equity Fund 1.90 N/A 1.10 N/A 1.10 N/A N/A U.S. Short-Term High Yield Bond Fund 1.30 N/A 0.50 N/A 0.60 N/A N/A U.S. Small Cap Value Fund N/A N/A 0.85 N/A0.85 N/A N/A USD Government Money Market Fund N/A N/A 0.20 N/A N/A N/A 0.45% USD Investment Grade Credit Fund 0.80 N/A 0.30 N/A 0.30 N/A N/A 1 The Sub-Fund liquidated on 12 May 2020. 2 The Sub-Fund liquidated on 27 August 2020.

Class X Shares may be purchased by retail investors, and Class Y Shares may be purchased by institutional investors, provided they or their financial intermediaries have an agreement with the Principal Distributor/Management Company or the Investment Adviser expressly providing them access to Class X Shares or Class Y Shares, as applicable. Successive Class X Shares and Class Y Shares may be issued in one or different Sub-Funds, numbered 1, 2, 3 etc. and named X1, X2, X3, etc. and Y1, Y2, Y3, etc. for the first, second and third Class X Shares and Class Y Shares launched, respectively. The investment management fees for these classes are based on designed to accommodate an alternative charging structure and the fees are a separate negotiated agreement and may include performance fees.

The Investment Adviser manages the investment and reinvestment of the assets of each Sub-Fund in accordance with the investment objectives and restrictions of each Sub-Fund, under the overall responsibility of the Board of Directors, and is remunerated for such services by the Management Company.

The Investment Adviser has delegated certain of its functions to sub-advisers within the Group (each a “Sub-Adviser”, collectively the “Sub-Advisers”). Each Sub-Adviser serves to assist in the day-to-day asset management of the respective Sub- Funds. The fees of the Sub-Advisers are borne by the Investment Adviser.

Wells Capital Management Incorporated serves as the Sub-Adviser for each Sub-Fund (except EUR Investment Grade Credit Fund and EUR Short Duration Credit Fund). Wells Fargo Asset Management (International) Limited serves as the Sub-Adviser for EUR Investment Grade Credit Fund and EUR Short Duration Credit Fund. Wells Capital Management Incorporated and Wells Fargo Asset Management (International) Limited both serves as Sub-Advisers for Alternative Risk Premia Fund and Global Investment Grade Credit Fund. Performance fee Class AP, Class IP and Class ZP Shares of Global Long/Short Equity Fund may each pay a performance fee to the Management Company. The Management Company may pay part or all of the performance fee to the Investment Adviser and the Investment Adviser may in turn pay part or all of any portion of the performance fee it receives from the Management Company to the Sub-Advisers. The performance fee is calculated in the Sub-Funds’ base currency, USD, for all share classes including those not denominated in USD. Under this method of performance fee calculation, unhedged non-base currency denominated classes may incur a performance fee at times when the NAV of this Share Class is lower than, and has depreciated over the time period of the performance fee, relative to the NAV of a comparable Share Class calculated in a Sub-Fund’s base currency. Conversely, a performance fee may not be incurred on an unhedged non-base currency denominated Share Class when the NAV of this Share Class has increased and appreciated over the time period of the performance fee relative to the NAV of a base currency denominated Share Class. The performance fee is equal to 20% of the appreciation of the NAV per share (prior to the deduction of the performance fee) calculated in USD at the end of each fiscal year when the NAV per share exceeds the high watermark after deduction of the hurdle rate. The high watermark is the highest end of fiscal year NAV per share for

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Notes to financial statements (unaudited) (continued)

the relevant class since inception of the Sub-Fund when the performance fee is paid. The first high watermark will be the initial NAV per share for the relevant class. The hurdle rate applied to the Global Long/Short Equity Fund is 50% MSCI World Index/ 50% 3 Month LIBOR. Both indexes are expressed in USD. A Performance Fee cap of 10% of the Net Asset Value per Share was implemented on 1 April 2020.

The performance fee is calculated and accrued daily and paid annually in arrears at the end of the fiscal year, except that, when a redemption is made on any valuation day other than the fiscal year end, a performance fee (if accrued as of the date of such redemption) shall be crystalised in respect of the shares being redeemed and paid to the Management Company on a quarterly basis. During the six months ended 30 September 2020, the amount and percent of net assets of each share class were as follows:

Amount USD % of net assets

Global Long/Short Equity Fund Class IP (CHF) Shares-acc. (hedged) 125 1.59% Class ZP (CHF) Shares-acc. (hedged) 125 1.59% Class ZP (EUR) Shares-acc. (hedged) 665 1.60% Class ZP (GBP) Shares-acc. 126 1.67% Class ZP (USD) Shares-acc. 126 1.68% Transactions with related parties The Management Company also acts as the principal distributor of the Fund. The Principal Distributor has entered into sub- distribution agreements with the following affiliated entities (each an “Affiliated Sub-Distributor”, collectively the “Affiliated Sub-Distributors”) pursuant to which each Affiliated Sub-Distributor has been appointed as a non-exclusive sub-distributor in respect of the promotion, marketing and sale of shares of one or more of the Sub-Funds:

▪ Wells Fargo Funds Distributor, LLC ▪ Wells Fargo Clearing Services, LLC (d/b/a Wells Fargo Advisors) ▪ Wells Fargo Securities, LLC ▪ Wells Capital Management Incorporated ▪ Wells Fargo Securities Asia Limited ▪ Wells Fargo Bank, National Association ▪ Wells Fargo Bank, National Association – Singapore Branch ▪ Wells Fargo Asset Management (International) Limited Each Affiliated Sub-Distributor is an affiliate of the Principal Distributor. All entities are indirect, wholly-owned subsidiaries of Wells Fargo & Company and the Affiliated Sub-Distributors and may receive compensation from the Principal Distributor for the services it provides, if any, in connection with the promotion, marketing and sale of shares.

The Directors who are also officers and/or directors of the Investment Adviser and/or its affiliates do not receive separate remuneration from the Fund. Richard Goddard, Jürgen Meisch and Yves Wagner, who are Directors with no affiliation with the Investment Adviser and/or its affiliates, each receive remuneration at a flat rate with no variable element. The accrued aggregate Directors’ remuneration relating to the Fund amounted to USD 103,833 for the six months ended 30 September 2020.

No transactions of the Fund were effected through a broker who is an affiliate of the Fund, the Management Company/ Principal Distributor, the Investment Adviser, the Sub-Advisers or the Directors of the Fund. All transactions with connected persons were entered into in the ordinary course of business and under normal commercial terms.

4. DEPOSITARY BANK AND ADMINISTRATION FEES Brown Brothers Harriman (Luxembourg) S.C.A. has been appointed as the depositary bank and administrator for the Fund. The depositary bank fee is calculated based on an agreed upon schedule. Under the depositary agreement, Brown Brothers Harriman (Luxembourg) S.C.A. receives annual safekeeping and servicing fees with rates varying according to the country of investment. Under the administrative agreement, Brown Brothers Harriman (Luxembourg) S.C.A. receives a fee for its services according to an agreed upon schedule and is reimbursed for out-of-pocket expenses. The depositary bank and administration fees are accrued on each valuation day based on the previous day’s NAV and are paid at the end of each month.

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Notes to financial statements (unaudited) (continued)

5. REGISTRAR, TRANSFER AGENT AND PAYING AGENT FEES Brown Brothers Harriman (Luxembourg) S.C.A. also serves as the registrar, transfer agent and paying agent of the Fund. For these services, Brown Brothers Harriman (Luxembourg) S.C.A. is responsible for the maintenance of the register of shareholders and for the distribution of documents (statements, reports and notices) to shareholders and is paid by the Fund. The registrar, transfer agent and paying agent fees are payable monthly in arrears in accordance with relevant agreements.

6. OTHER EXPENSES The other expenses of each Sub-Fund represented on the Statement of operations and changes in net assets primarily consist of shareholder report expenses, legal expenses, registration fees, tax expenses and other miscellaneous expenses of the Sub-Funds.

7. WAIVED FEES AND REIMBURSED EXPENSES The waived fees and/or reimbursed expenses represent amounts exceeding the total expense ratio caps of each Sub-Fund during the financial period. These amounts are reimbursed by the Investment Adviser to each relevant Sub-Fund when the actual total expense ratio of each class exceeds the following rates:

Class A Class AP Class I Class IP Class Z Class ZP Service Class

Alternative Risk Premia Fund N/A N/A 0.70% N/A N/A N/A N/A China Equity Fund 1.80% N/A 1.15 N/A 1.15% N/A N/A Emerging Markets Equity Fund 2.20 N/A 1.45 N/A 1.45 N/A N/A Emerging Markets Equity Income Fund 2.15 N/A 1.40 N/A 1.40 N/A N/A EUR Investment Grade Credit Fund 0.95 N/A 0.45 N/A 0.45 N/A N/A EUR Short Duration Credit Fund 0.85 N/A 0.35 N/A 0.35 N/A N/A Global Equity Fund 1.90 N/A 1.15 N/A 1.15 N/A N/A Global Equity Absolute Return Fund1 N/A N/A N/A 1.00% N/A 1.00% N/A Global Equity Enhanced Income Fund 1.40 N/A 0.70 N/A N/A N/A N/A Global Factor Enhanced Equity Fund 0.40 N/A 0.25 N/A 0.25 N/A N/A Global Investment Grade Credit Fund N/A N/A 0.45 N/A 0.45 N/A N/A Global Long/Short Equity Fund N/A 1.75% N/A 1.00 N/A 1.00 N/A Global Low Volatility Equity Fund 1.10 N/A 0.65 N/A 0.65 N/A N/A Global Multi-Asset Income Fund1 1.20 N/A 0.60 N/A 0.60 N/A N/A Global Opportunity Bond Fund2 1.00 N/A 0.50 N/A N/A N/A N/A Global Small Cap Equity Fund N/A N/A 0.95 N/A N/A N/A N/A Small Cap Innovation Fund N/A N/A 0.95 N/A 0.95 N/A N/A U.S. All Cap Growth Fund 1.90 N/A 1.10 N/A 1.10 N/A N/A U.S. High Yield Bond Fund 1.75 N/A 0.95 N/A 0.95 N/A N/A U.S. Large Cap Growth Fund 1.80 N/A 1.00 N/A 1.05 N/A N/A U.S. Select Equity Fund 2.20 N/A 1.40 N/A 1.40 N/A N/A U.S. Short-Term High Yield Bond Fund 1.60 N/A 0.80 N/A 0.90 N/A N/A U.S. Small Cap Value Fund N/A N/A 0.95 N/A 0.95 N/A N/A USD Government Money Market Fund N/A N/A 0.20 N/A N/A N/A 0.45% USD Investment Grade Credit Fund 0.95 N/A 0.45 N/A 0.45 N/A N/A 1 The Sub-Fund liquidated on 12 May 2020. 2 The Sub-Fund liquidated on 27 August 2020.

The total expense caps for Class X Shares and Class Y Shares are based on separate negotiated agreements.

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Notes to financial statements (unaudited) (continued)

8. DERIVATIVE TRANSACTIONS During the six months ended 30 September 2020, the Sub-Funds entered into written options, forward foreign currency contracts, futures contracts, contracts for difference and total return basket swaps.

As at 30 September 2020, Global Equity Enhanced Income Fund had the following written options outstanding:

USD USD USD Number of notional exercise USD Expiration market Description Counterparty contracts amount price commitment date value

Call MXEA Index Morgan Stanley & Company (14) (8,109) 1,975 23,920 02/10/2020 (350) MXEF Index Morgan Stanley & Company (7) (2,444) 1,170 24,812 02/10/2020 (700) NDX Index Morgan Stanley & Company (1) (1,889) 13,450 5,231 02/10/2020 (175) RUY Index Morgan Stanley & Company (3) (2,608) 1,670 8,581 02/10/2020 (180) SPX Index Morgan Stanley & Company (4) (5,077) 3,640 2,547 02/10/2020 (20) SPX Index Morgan Stanley & Company (3) (418) 3,850 1,221 02/10/2020 (15) MXEA Index Morgan Stanley & Company (13) (7,140) 1,970 39,442 09/10/2020 (390) MXEF Index Morgan Stanley & Company (9) (713) 1,170 30,890 09/10/2020 (720) NDX Index Morgan Stanley & Company (1) (509) 13,100 6,386 09/10/2020 (210) RUY Index Morgan Stanley & Company (3) (2,368) 1,610 27,751 09/10/2020 (495) SPX Index Morgan Stanley & Company (8) (11,674) 3,520 194,457 09/10/2020 (2,640) MXEA Index Morgan Stanley & Company (12) (5,751) 1,990 54,772 16/10/2020 (720) MXEF Index Morgan Stanley & Company (7) (204) 1,200 19,666 16/10/2020 (210) NDX Index Morgan Stanley & Company (1) (1,239) 12,600 26,661 16/10/2020 (650) SPX Index Morgan Stanley & Company (11) (12,861) 3,530 417,028 16/10/2020 (7,810) SX5E Index Morgan Stanley & Company (11) (607) 3,400 411,949 16/10/2020 (535) MXEA Index Morgan Stanley & Company (10) (3,792) 1,925 364,002 23/10/2020 (8,300) MXEF Index Morgan Stanley & Company (12) (2,571) 1,125 295,499 23/10/2020 (8,400) SPX Index Morgan Stanley & Company (4) (5,857) 3,430 470,027 23/10/2020 (14,680) SPX Index Morgan Stanley & Company (6) (865) 3,660 89,695 23/10/2020 (1,770) WSS5ED Index Morgan Stanley & Company (10) (1,520) 3,400 374,499 23/10/2020 (880) (49,850)

As at 30 September 2020, Global Equity Enhanced Income Fund had segregated cash of USD 8,221 for written options contracts. This amount is included in Cash at banks in the Statement of assets and liabilities.

As at 30 September 2020, the following Sub-Funds had forward foreign currency contracts outstanding:

Value of unrealised Contract Maturity Contracts to Market appreciation/ type Purpose Counterparty date receive/deliver Cost value (depreciation) Alternative Risk Premia Fund Buy Currency hedging Brown Brothers Harriman 12/10/2020 8,247 CHF 8,990 USD 8,956 USD (34) USD Currency hedging Brown Brothers Harriman 12/10/2020 7,562 EUR 8,900 USD 8,868 USD (32) USD Currency hedging Brown Brothers Harriman 12/10/2020 6,389 GBP 8,268 USD 8,245 USD (23) USD Economic hedging Barclays Bank PLC 21/10/2020 8,911,000 CAD 6,769,125 USD 6,692,603 USD (76,522) USD Economic hedging Barclays Bank PLC 21/10/2020 1,480,000 CZK 65,997 USD 64,131 USD (1,866) USD Economic hedging Barclays Bank PLC 21/10/2020 5,355,000 EUR 6,334,393 USD 6,280,972 USD (53,421) USD Economic hedging Barclays Bank PLC 21/10/2020 3,250,000 GBP 4,228,417 USD 4,194,046 USD (34,371) USD Economic hedging Barclays Bank PLC 21/10/2020 6,108,004,000 IDR 410,517 USD 409,756 USD (761) USD Economic hedging Barclays Bank PLC 21/10/2020 99,945,000 INR 1,356,124 USD 1,351,954 USD (4,170) USD Economic hedging Barclays Bank PLC 21/10/2020 427,060,000 JPY 4,021,815 USD 4,050,168 USD 28,353 USD

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Notes to financial statements (unaudited) (continued)

Value of unrealised Contract Maturity Contracts to Market appreciation/ type Purpose Counterparty date receive/deliver Cost value (depreciation) Alternative Risk Premia Fund (continued) Buy Economic hedging Barclays Bank PLC 21/10/2020 12,483,000 MXN 576,962 USD 563,240 USD (13,722) USD Economic hedging Barclays Bank PLC 21/10/2020 2,514,000 NZD 1,678,815 USD 1,663,142 USD (15,673) USD Economic hedging Barclays Bank PLC 21/10/2020 9,192,000 ZAR 550,825 USD 547,489 USD (3,336) USD

Sell Economic hedging Barclays Bank PLC 21/10/2020 (2,277,000) AUD 1,657,397 USD 1,630,961 USD 26,436 USD Economic hedging Barclays Bank PLC 21/10/2020 (2,085,000) BRL 393,777 USD 371,070 USD 22,707 USD Economic hedging Barclays Bank PLC 21/10/2020 (1,707,000) CHF 1,873,087 USD 1,854,318 USD 18,769 USD Economic hedging Barclays Bank PLC 21/10/2020 (142,560,000) CLP 186,260 USD 181,623 USD 4,637 USD Economic hedging Barclays Bank PLC 21/10/2020 (2,645,000) GBP 3,390,171 USD 3,413,308 USD (23,137) USD Economic hedging Barclays Bank PLC 21/10/2020 (89,843,000) HUF 297,727 USD 289,714 USD 8,013 USD Economic hedging Barclays Bank PLC 21/10/2020 (230,502,000) KRW 194,508 USD 197,092 USD (2,584) USD Economic hedging Barclays Bank PLC 21/10/2020 (24,846,000) NOK 2,755,053 USD 2,663,789 USD 91,264 USD Economic hedging Barclays Bank PLC 21/10/2020 (1,571,000) PLN 418,294 USD 406,442 USD 11,852 USD Economic hedging Barclays Bank PLC 21/10/2020 (16,572,000) SEK 1,893,372 USD 1,850,772 USD 42,600 USD Emerging Markets Equity Fund Buy Currency hedging Brown Brothers Harriman 12/10/2020 10,264 CHF 11,194 USD 11,147 USD (47) USD Currency hedging Brown Brothers Harriman 12/10/2020 10,262 CHF 11,191 USD 11,144 USD (47) USD Emerging Markets Equity Income Fund Buy Currency hedging Brown Brothers Harriman 12/10/2020 9,099 CHF 9,926 USD 9,882 USD (44) USD Currency hedging Brown Brothers Harriman 12/10/2020 9,100 CHF 9,927 USD 9,884 USD (43) USD EUR Investment Grade Credit Fund Buy Currency hedging Brown Brothers Harriman 12/10/2020 109,890,041 CHF 101,788,252 EUR 101,768,185 EUR (20,067) EUR

Sell State Street Bank and Economic hedging Trust Company 28/10/2020 (3,700,000) GBP 4,036,467 EUR 4,070,389 EUR (33,922) EUR State Street Bank and Economic hedging Trust Company 28/10/2020 (2,800,000) USD 2,364,181 EUR 2,386,850 EUR (22,669) EUR EUR Short Duration Credit Fund Buy Currency hedging Brown Brothers Harriman 12/10/2020 1,120 GBP 1,231 EUR 1,232 EUR 1 EUR Currency hedging Brown Brothers Harriman 12/10/2020 7,865 GBP 8,649 EUR 8,655 EUR 6 EUR Currency hedging Brown Brothers Harriman 12/10/2020 10,483 USD 8,907 EUR 8,939 EUR 32 EUR Currency hedging Brown Brothers Harriman 12/10/2020 10,498 USD 8,920 EUR 8,953 EUR 33 EUR

Sell State Street Bank and Economic hedging Trust Company 28/10/2020 (3,400,000) GBP 3,709,026 EUR 3,740,358 EUR (31,332) EUR State Street Bank and Economic hedging Trust Company 28/10/2020 (900,000) USD 759,883 EUR 767,202 EUR (7,319) EUR Global Equity Fund Buy Currency hedging Brown Brothers Harriman 12/10/2020 8,659 EUR 10,192 USD 10,154 USD (38) USD Global Factor Enhanced Equity Fund Buy Currency hedging Brown Brothers Harriman 12/10/2020 9,876 CHF 10,771 USD 10,752 USD (19) USD Currency hedging Brown Brothers Harriman 12/10/2020 9,876 CHF 10,771 USD 10,752 USD (19) USD Currency hedging Brown Brothers Harriman 12/10/2020 9,291 EUR 10,942 USD 10,899 USD (43) USD Currency hedging Brown Brothers Harriman 12/10/2020 9,291 EUR 10,942 USD 10,899 USD (43) USD Global Investment Grade Credit Fund Buy Currency hedging Brown Brothers Harriman 12/10/2020 10,250 CHF 11,173 USD 11,131 USD (42) USD Currency hedging Brown Brothers Harriman 12/10/2020 10,250 CHF 11,173 USD 11,131 USD (42) USD Currency hedging Brown Brothers Harriman 12/10/2020 9,323 EUR 10,971 USD 10,932 USD (39) USD

Wells Fargo (Lux) Worldwide Fund | 133

Notes to financial statements (unaudited) (continued)

Value of unrealised Contract Maturity Contracts to Market appreciation/ type Purpose Counterparty date receive/deliver Cost value (depreciation) Global Investment Grade Credit Fund (continued) Buy Currency hedging Brown Brothers Harriman 12/10/2020 9,323 EUR 10,971 USD 10,932 USD (39) USD Currency hedging Brown Brothers Harriman 12/10/2020 3,397,471 GBP 4,396,175 USD 4,384,161 USD (12,014) USD Currency hedging Brown Brothers Harriman 12/10/2020 8,076 GBP 10,450 USD 10,422 USD (28) USD

Sell State Street Bank and Economic hedging Trust Company 28/10/2020 (1,105,099) CAD 836,844 USD 830,004 USD 6,840 USD State Street Bank and Economic hedging Trust Company 28/10/2020 (9,600,000) EUR 11,371,675 USD 11,261,697 USD 109,978 USD State Street Bank and Economic hedging Trust Company 28/10/2020 (1,900,000) GBP 2,454,515 USD 2,451,998 USD 2,517 USD Global Long/Short Equity Fund Buy Currency hedging Brown Brothers Harriman 12/10/2020 10,379 CHF 11,310 USD 11,272 USD (38) USD Currency hedging Brown Brothers Harriman 12/10/2020 10,379 CHF 11,310 USD 11,273 USD (37) USD Currency hedging Brown Brothers Harriman 12/10/2020 12,311,003 EUR 14,463,708 USD 14,437,315 USD (26,393) USD Currency hedging Brown Brothers Harriman 12/10/2020 68,396 EUR 80,187 USD 80,209 USD 22 USD Global Low Volatility Equity Fund Buy Currency hedging Brown Brothers Harriman 12/10/2020 9,493 CHF 10,356 USD 10,336 USD (20) USD Currency hedging Brown Brothers Harriman 12/10/2020 9,493 CHF 10,356 USD 10,336 USD (20) USD Currency hedging Brown Brothers Harriman 12/10/2020 9,307 EUR 10,961 USD 10,916 USD (45) USD Global Small Cap Equity Fund Buy Currency hedging Brown Brothers Harriman 12/10/2020 8,874 CHF 9,674 USD 9,638 USD (36) USD Small Cap Innovation Fund Buy Currency hedging Brown Brothers Harriman 12/10/2020 11,186 CHF 12,195 USD 12,149 USD (46) USD Currency hedging Brown Brothers Harriman 12/10/2020 10,515 EUR 12,376 USD 12,331 USD (45) USD Currency hedging Brown Brothers Harriman 12/10/2020 10,515 EUR 12,376 USD 12,331 USD (45) USD U.S. All Cap Growth Fund Buy Currency hedging Brown Brothers Harriman 12/10/2020 12,383 CHF 13,499 USD 13,449 USD (50) USD Currency hedging Brown Brothers Harriman 12/10/2020 22,399,462 EUR 26,360,644 USD 26,268,225 USD (92,419) USD Currency hedging Brown Brothers Harriman 12/10/2020 4,013,067 EUR 4,713,899 USD 4,706,189 USD (7,710) USD Currency hedging Brown Brothers Harriman 12/10/2020 1,554,759 EUR 1,830,334 USD 1,823,292 USD (7,042) USD Currency hedging Brown Brothers Harriman 12/10/2020 17,834 SGD 13,021 USD 13,065 USD 44 USD U.S. High Yield Bond Fund Buy Currency hedging Brown Brothers Harriman 12/10/2020 9,276 CHF 10,112 USD 10,074 USD (38) USD Currency hedging Brown Brothers Harriman 12/10/2020 9,949 EUR 11,710 USD 11,668 USD (42) USD Currency hedging Brown Brothers Harriman 12/10/2020 8,724 EUR 10,267 USD 10,230 USD (37) USD Currency hedging Brown Brothers Harriman 12/10/2020 8,724 EUR 10,267 USD 10,230 USD (37) USD Currency hedging Brown Brothers Harriman 12/10/2020 97,030 GBP 125,573 USD 125,209 USD (364) USD Currency hedging Brown Brothers Harriman 12/10/2020 7,519 GBP 9,731 USD 9,703 USD (28) USD Currency hedging Brown Brothers Harriman 12/10/2020 7,519 GBP 9,732 USD 9,703 USD (29) USD U.S. Large Cap Growth Fund Buy Currency hedging Brown Brothers Harriman 12/10/2020 10,782 EUR 12,688 USD 12,644 USD (44) USD U.S. Select Equity Fund Buy Currency hedging Brown Brothers Harriman 12/10/2020 8,822 EUR 10,384 USD 10,345 USD (39) USD Currency hedging Brown Brothers Harriman 12/10/2020 8,996 EUR 10,589 USD 10,550 USD (39) USD U.S. Short-Term High Yield Bond Fund Buy Currency hedging Brown Brothers Harriman 12/10/2020 4,121,806 EUR 4,851,161 USD 4,833,712 USD (17,449) USD Currency hedging Brown Brothers Harriman 12/10/2020 9,038 EUR 10,637 USD 10,599 USD (38) USD Currency hedging Brown Brothers Harriman 12/10/2020 22,636,952 GBP 29,295,509 USD 29,211,149 USD (84,360) USD

134 | Wells Fargo (Lux) Worldwide Fund

Notes to financial statements (unaudited) (continued)

Value of unrealised Contract Maturity Contracts to Market appreciation/ type Purpose Counterparty date receive/deliver Cost value (depreciation) U.S. Small Cap Value Fund Buy Currency hedging Brown Brothers Harriman 12/10/2020 8,578 GBP 11,105 USD 11,070 USD (35) USD Currency hedging Brown Brothers Harriman 12/10/2020 5,947 GBP 7,699 USD 7,674 USD (25) USD USD Investment Grade Credit Fund Buy Currency hedging Brown Brothers Harriman 12/10/2020 9,943 CHF 10,839 USD 10,798 USD (41) USD Currency hedging Brown Brothers Harriman 12/10/2020 57,748,350 EUR 67,965,358 USD 67,722,461 USD (242,897) USD Currency hedging Brown Brothers Harriman 12/10/2020 1,598,783 EUR 1,881,636 USD 1,874,920 USD (6,716) USD Currency hedging Brown Brothers Harriman 12/10/2020 9,992 EUR 11,760 USD 11,719 USD (41) USD Currency hedging Brown Brothers Harriman 12/10/2020 9,371 EUR 11,029 USD 10,990 USD (39) USD Currency hedging Brown Brothers Harriman 12/10/2020 454,385 GBP 587,970 USD 586,347 USD (1,623) USD Currency hedging Brown Brothers Harriman 12/10/2020 175,305 GBP 226,843 USD 226,218 USD (625) USD Currency hedging Brown Brothers Harriman 12/10/2020 7,884 GBP 10,202 USD 10,174 USD (28) USD Currency hedging Brown Brothers Harriman 12/10/2020 1,354,966,414 JPY 12,768,516 USD 12,849,081 USD 80,565 USD Currency hedging Brown Brothers Harriman 12/10/2020 11,081 SGD 8,090 USD 8,118 USD 28 USD

As at 30 September 2020, the following Sub-Funds had open futures contracts:

Value of unrealised Contract Maturity Commitment appreciation/ type Type Counterparty date amount (depreciation) Alternative Risk Premia Fund 8 Short CAC40 10 Euro Futures Goldman Sachs & Company LLC 16/10/2020 (453,035) USD 21,995 USD 3 Short Hang Seng Index Futures Goldman Sachs & Company LLC 29/10/2020 (450,229) USD (5,110) USD 138 Short Euro-Bund Futures Goldman Sachs & Company LLC 8/12/2020 (17,041,708) USD (228,389) USD 45 Short Australian 10 Year Bond Futures Goldman Sachs & Company LLC 15/12/2020 (3,196,373) USD (48,536) USD 4 Short SPI 200 Futures Goldman Sachs & Company LLC 17/12/2020 (425,094) USD 1,433 USD 11 Short Euro STOXX 50 Futures Goldman Sachs & Company LLC 18/12/2020 (413,089) USD 13,735 USD 6 Short FTSE 100 Index Futures Goldman Sachs & Company LLC 18/12/2020 (454,539) USD 11,613 USD 4 Long TOPIX Index Futures Goldman Sachs & Company LLC 10/12/2020 629,213 USD 11,757 USD 8 Long Japanese 10 Year Bond (OSE) Futures Goldman Sachs & Company LLC 14/12/2020 7,696,885 USD 18,964 USD 3 Long S&P/TSX 60 Index Futures Goldman Sachs & Company LLC 17/12/2020 436,093 USD (240) USD 69 Long Canadian 10 Year Bond Futures Goldman Sachs & Company LLC 18/12/2020 5,954,349 USD (2,073) USD 1 Long DAX Index Futures Goldman Sachs & Company LLC 18/12/2020 375,096 USD (9,907) USD 4 Long E-Mini Russell 2000 Index Futures Goldman Sachs & Company LLC 18/12/2020 301,400 USD 3,020 USD 7 Long MSCI Emerging Markets Index Futures Goldman Sachs & Company LLC 18/12/2020 374,885 USD (4,165) USD 2 Long NASDAQ 100 E-Mini Futures Goldman Sachs & Company LLC 18/12/2020 453,510 USD 14,338 USD 2 Long S&P 500 E-Mini Futures Goldman Sachs & Company LLC 18/12/2020 333,370 USD 2,855 USD 33 Long 10 Year U.S. Treasury Note Goldman Sachs & Company LLC 21/12/2020 3,701,672 USD 11,860 USD 72 Long Long Gilt Futures Goldman Sachs & Company LLC 29/12/2020 13,515,291 USD 6,503 USD EUR Investment Grade Credit Fund 16 Short Euro-Bund Futures Société Générale S.A. 8/12/2020 (1,685,232) EUR (8,640) EUR 22 Short 10 Year U.S. Treasury Note Société Générale S.A. 21/12/2020 (2,104,807) EUR (10,262) EUR 37 Long Euro-BOBL Futures Société Générale S.A. 8/12/2020 4,017,904 EUR 740 EUR 49 Long Euro-Schatz Futures Société Générale S.A. 8/12/2020 4,968,306 EUR (735) EUR 10 Long 5 Year U.S. Treasury Note Société Générale S.A. 31/12/2020 886,165 EUR 1,999 EUR EUR Short Duration Credit Fund 22 Short Euro-BOBL Futures Société Générale S.A. 8/12/2020 (2,389,024) EUR (660) EUR 13 Short Long Gilt Futures Société Générale S.A. 29/12/2020 (2,081,335) EUR (9,729) EUR 160 Long Euro-Schatz Futures Société Générale S.A. 8/12/2020 16,223,040 EUR (2,400) EUR

Wells Fargo (Lux) Worldwide Fund | 135

Notes to financial statements (unaudited) (continued)

Value of unrealised Contract Maturity Commitment appreciation/ type Type Counterparty date amount (depreciation)

Global Equity Enhanced Income Fund 7 Long S&P 500 E-Mini Futures Goldman Sachs & Company LLC 18/12/2020 1,166,795 USD 13,570 USD Global Factor Enhanced Equity Fund 7 Long MSCI World Index Futures Goldman Sachs & Company LLC 18/12/2020 823,620 USD (12,281) USD Global Investment Grade Credit Fund 4 Long Euro-Bund Futures Société Générale S.A. 8/12/2020 493,963 USD 2,579 USD

As at 30 September 2020, Alternative Risk Premia Fund, Global Equity Enhanced Income Fund and Global Factor Enhanced Equity Fund had segregated cash of USD 1,981,799, USD 84,700 and USD 165,746, respectively, for open futures contracts. These amounts are included in Cash at banks in the Statement of assets and liabilities.

As at 30 September 2020, the following Sub-Funds had contracts for difference outstanding:

USD value of USD unrealised market appreciation/ Currency Security Shares value (depreciation)

Alternative Risk Premia Fund USD 1-800-Flowers.com Incorporated 427 10,649 598 USD A O Smith Corporation 813 42,926 748 USD A10 Networks Incorporated 953 6,071 (705) USD ABM Industries Incorporated 69 2,530 (30) USD Accelerate Diagnostics Incorporated (854) (9,104) 495 USD Acerinox SA 818 6,707 294 USD Addus HomeCare Corporation 22 2,079 2 USD Adecco Group AG 825 43,531 75 USD Adevinta ASA (1,568) (26,947) (1,481) USD adidas AG (250) (80,736) (1,138) USD ADO Properties SA (193) (5,340) 456 USD AEON Fantasy Company Limited 400 6,231 (258) USD Afterpay Limited (301) (17,742) (1,260) USD Agenus Incorporated 1,123 4,492 (764) USD Agilysys Incorporated 111 2,682 3 USD AGNC Investment Corporation 4,103 57,073 (1,559) USD Agnico Eagle Mines Limited (1,200) (95,609) (1,457) USD Ain Holdings Incorporated (300) (21,018) (380) USD Air Lease Corporation (519) (15,269) 218 USD Air Water Incorporated 7,500 101,435 (5,392) USD Akamai Technologies Incorporated 49 5,416 19 USD Akcea Therapeutics Incorporated 667 12,099 0 USD Aker Carbon Capture AS 8,303 5,296 (543) USD Aker Offshore Wind Holdings 8,303 4,502 150 USD Aker Solutions ASA 9,769 9,626 347 USD Akorn Incorporated 19,603 559 (104) USD Alcon Incorporated (1,637) (92,811) (724) USD Algonquin Power & Utilities Corporation 500 7,262 276

136 | Wells Fargo (Lux) Worldwide Fund

Notes to financial statements (unaudited) (continued)

USD value of USD unrealised market appreciation/ Currency Security Shares value (depreciation)

Alternative Risk Premia Fund (continued) USD Allegion plc 62 6,132 71 USD ALLETE Incorporated (145) (7,502) 1 USD Allogene Therapeutics Incorporated (216) (8,145) (631) USD Allstate Corporation 404 38,033 852 USD ALSO Holding AG 134 35,487 400 USD alstria office Real Estate Investment Trust -AG 1,232 17,131 (471) USD AltaGas Limited 7,500 90,571 (1,666) USD Altria Group Incorporated (2,439) (94,243) 439 USD AMAG Pharmaceuticals Incorporated 232 2,181 (86) USD Amazon.com Incorporated 5 15,744 941 USD American Equity Investment Life Holding Company (130) (2,859) (231) USD American Express Company (863) (86,516) (1,795) USD American Outdoor Brands Incorporated 37 482 (7) USD American Public Education Incorporated 38 1,071 20 USD AMP Limited (95,888) (90,295) 5,098 USD Amphastar Pharmaceuticals Incorporated 793 14,869 (28) USD Ampol Limited 10,580 182,597 (1,134) USD ams AG (604) (13,655) (2,139) USD ANA Holdings Incorporated (1,500) (34,696) 5,038 USD Analog Devices Incorporated (256) (29,885) (719) USD Anheuser-Busch InBev SA (2,059) (110,857) 578 USD ANI Pharmaceuticals Incorporated 92 2,595 (2) USD Anika Therapeutics Incorporated 517 18,297 527 USD Anterix Incorporated (103) (3,369) 442 USD Antero Midstream Corporation (378) (2,030) (8) USD Aoyama Trading Company Limited (1,700) (8,956) 328 USD Arata Corporation 600 29,949 (80) USD Arena Pharmaceuticals Incorporated 171 12,789 708 USD Arista Networks Incorporated 22 4,552 260 USD Armstrong World Industries Incorporated (303) (20,849) (854) USD Aroundtown SA 1,094 5,492 32 USD Arteria Networks Corporation 800 13,916 109 USD Asahi Holdings Incorporated 400 12,985 (754) USD Ashford Hospitality Trust Incorporated 492 812 (103) USD Ashland Global Holdings Incorporated (29) (2,057) (66) USD ASR Nederland NV (132) (4,440) 41 USD Astec Industries Incorporated 201 10,904 997 USD Aston Martin Lagonda Global Holdings plc (1,660) (1,091) 39 USD Atara Biotherapeutics Incorporated (1,017) (13,180) 1,902 USD Atco Limited 3,600 104,062 243 USD Atlas Arteria Limited (6,338) (27,835) 1,327 USD Atos SE 62 4,982 (68)

Wells Fargo (Lux) Worldwide Fund | 137

Notes to financial statements (unaudited) (continued)

USD value of USD unrealised market appreciation/ Currency Security Shares value (depreciation)

Alternative Risk Premia Fund (continued) USD Aurora Cannabis Incorporated (2,500) (11,641) 4,220 USD Aurubis AG 452 30,750 (781) USD Austal Limited 7,788 18,394 (178) USD Autoliv Incorporated 77 5,612 121 USD Avis Budget Group Incorporated (64) (1,684) 159 USD AXA SA (1,580) (29,243) 436 USD Axon Enterprise Incorporated (56) (5,079) (421) USD Axsome Therapeutics Incorporated (34) (2,423) 256 USD BAE Systems plc 10,277 63,825 (1,925) USD Banca Mediolanum SpA (1,259) (9,065) 247 USD Bandai Namco Holdings Incorporated 200 14,654 842 USD Bank Leumi Le-Israel BM 973 4,284 (137) USD Barrett Business Services Incorporated 66 3,461 135 USD Barry Callebaut AG 3 6,682 149 USD BASF SE (303) (18,452) (445) USD Bayer AG (552) (34,055) 849 USD Bayerische Motoren Werke AG 159 8,690 (102) USD BeiGene Limited (192) (54,996) (2,951) USD Bekaert SA 161 3,354 12 USD Belden Incorporated (43) (1,338) (47) USD Benchmark Electronics Incorporated 136 2,740 54 USD Benefit One Incorporated (400) (10,133) (143) USD Benesse Holdings Incorporated 300 7,722 (111) USD Best Buy Company Incorporated 724 80,574 3,852 USD Beyond Meat Incorporated (53) (8,801) (915) USD Biesse SpA 229 3,895 249 USD Big Lots Incorporated 57 2,542 (81) USD BioDelivery Sciences International Incorporated 2,437 9,090 (439) USD Biogen Incorporated 365 103,543 5,614 USD Biohaven Pharmaceutical Holding Company Limited (190) (12,352) (1,016) USD BioMerieux 39 6,105 143 USD Bio-Rad Laboratories Incorporated 353 181,957 (865) USD BioSpecifics Technologies Corporation 357 18,860 (243) USD Blackbaud Incorporated (21) (1,172) 38 USD Blackmores Limited 94 4,265 (556) USD Bluebird Bio Incorporated (335) (18,073) 184 USD BlueScope Steel Limited 13,033 120,084 (2,996) USD Boise Cascade Company 548 21,876 1,014 USD Booz Allen Hamilton Holding Corporation 1,733 143,804 (4,644) USD BorgWarner Incorporated 226 8,755 300 USD Boskalis Westminster (464) (9,205) 334 USD BP plc (18,562) (53,681) 2,361

138 | Wells Fargo (Lux) Worldwide Fund

Notes to financial statements (unaudited) (continued)

USD value of USD unrealised market appreciation/ Currency Security Shares value (depreciation)

Alternative Risk Premia Fund (continued) USD Briggs & Stratton Corporation 3,668 958 538 USD Brighthouse Financial Incorporated (536) (14,424) (214) USD British Land Company plc (17,852) (77,824) (1,857) USD Broadcom Incorporated (292) (106,381) (3,659) USD Broadleaf Company Limited 900 4,679 (65) USD Brown & Brown Incorporated 119 5,387 149 USD Brown-Forman Corporation 600 45,192 (312) USD BW LPG Limited 966 3,989 75 USD Cabot Oil & Gas Corporation 246 4,271 (514) USD CAE Incorporated 300 4,389 84 USD Caesars Entertainment Incorporated (76) (4,261) (124) USD Café de Coral Holdings Limited 12,000 25,350 (384) USD Calbee Incorporated 200 6,588 41 USD Campbell Soup Company 2,935 141,966 6,751 USD Canadian Apartment Properties Real Estate Investment Trust 3,700 129,071 4,589 USD Canadian Utilities Limited 300 7,156 78 USD Canon Incorporated (8,900) (147,620) (1,630) USD Canopy Growth Corporation (4,000) (57,347) 5,391 USD Capital & Counties Properties plc (12,252) (17,651) 151 USD Carvana Company (46) (10,261) (2,272) USD Catalyst Pharmaceuticals Incorporated 1,974 5,863 (474) USD Cato Corporation 1,399 10,940 (280) USD Cboe Global Markets Incorporated 59 5,177 (133) USD CBRE Group Incorporated 144 6,764 75 USD CDW Corporation 145 17,332 1,554 USD Centerra Gold Incorporated 200 2,327 59 USD Central Garden & Pet Company 582 23,239 1,577 USD Central Garden & Pet Company 84 3,036 170 USD Central Japan Railway Company (900) (129,006) 8,777 USD Ceridian HCM Holding Incorporated (221) (18,266) (1,414) USD CH Robinson Worldwide Incorporated 78 7,971 19 USD Change Healthcare Incorporated (2,390) (34,679) (1,554) USD Chart Industries Incorporated (188) (13,211) (615) USD Chegg Incorporated (62) (4,429) (210) USD Chemours Company (223) (4,663) (71) USD Chesapeake Energy Corporation 63 256 (38) USD Chocoladefabriken Lindt & Spruengli AG 10 84,410 (308) USD Chr Hansen Holding AS (346) (38,408) (93) USD Chubb Limited (302) (35,068) (39) USD Chubu Electric Power Company Incorporated 5,500 66,899 (3,565) USD Chugoku Electric Power Company Incorporated 17,300 216,299 (6,247) USD Churchill Downs Incorporated (77) (12,614) (722)

Wells Fargo (Lux) Worldwide Fund | 139

Notes to financial statements (unaudited) (continued)

USD value of USD unrealised market appreciation/ Currency Security Shares value (depreciation)

Alternative Risk Premia Fund (continued) USD Chuy’s Holdings Incorporated 93 1,821 19 USD CI Financial Corporation 4,400 55,812 (2,100) USD Cie Financiere Richemont SA (1,312) (88,091) (173) USD Cimarex Energy Company (97) (2,360) 60 USD Citrix Systems Incorporated 922 126,969 3,218 USD City Office Real Estate Investment Trust Incorporated 659 4,956 158 USD Clearwater Paper Corporation 72 2,732 186 USD Clearway Energy Incorporated 275 6,793 550 USD Clinuvel Pharmaceuticals Limited 136 2,284 (14) USD Clorox Company 405 85,119 664 USD CME Group Incorporated (528) (88,340) 201 USD Coca-Cola Amatil Limited 15,059 103,077 1,733 USD Coca-Cola Consolidated Incorporated 8 1,925 35 USD Coherent Incorporated (73) (8,098) (380) USD Coherus Biosciences Incorporated 861 15,791 (740) USD Coles Group Limited 5,761 70,185 (2,004) USD Collegium Pharmaceutical Incorporated 82 1,707 180 USD Coloplast AS 859 136,142 2,877 USD Commercial Metals Company 1,159 23,157 243 USD Commonwealth Bank of Australia (1,497) (68,886) 650 USD Computacenter plc 1,120 34,200 1,538 USD Computer Engineering & Consulting Limited 500 7,758 (87) USD Computer Programs and Systems Incorporated 767 21,177 1,281 USD Consolidated Communications Holdings Incorporated 300 1,707 (77) USD Constellation Brands Incorporated (153) (28,995) (681) USD Construction Partners Incorporated 724 13,177 529 USD Continental AG (884) (95,798) (8,019) USD Contura Energy Incorporated 1,703 12,466 (766) USD Corcept Therapeutics Incorporated 1,004 17,475 (587) USD CoreLogic Incorporated (65) (4,399) (12) USD Core-Mark Holding Company Incorporated 384 11,109 211 USD Corteva Incorporated (2,354) (67,819) (1,389) USD Cosmo Energy Holdings Company 800 11,437 (689) USD Coty Incorporated (3,274) (8,840) 1,048 USD Coupa Software Incorporated (10) (2,742) (90) USD Covivio 90 6,320 250 USD Cranswick plc 582 27,236 2,164 USD Credit Acceptance Corporation (30) (10,159) (891) USD Cree Incorporated (369) (23,520) (1,967) USD Crown Holdings Incorporated 1,358 104,376 5,025 USD CSL Limited 28 5,784 (18) USD CubeSmart (609) (19,677) (408)

140 | Wells Fargo (Lux) Worldwide Fund

Notes to financial statements (unaudited) (continued)

USD value of USD unrealised market appreciation/ Currency Security Shares value (depreciation)

Alternative Risk Premia Fund (continued) USD Customers Bancorp Incorporated 104 1,165 (26) USD Cutera Incorporated 562 10,661 (264) USD Cyberdyne Incorporated (6,000) (29,633) 509 USD Cybozu Incorporated 200 6,319 (361) USD Cymabay Therapeutics Incorporated (298) (2,158) (235) USD Daily Mail & General Trust plc 883 7,406 (25) USD Daimler AG (2,698) (145,544) (7,807) USD Dairy Farm International Holdings Limited (16,000) (60,473) 1,927 USD Daiwabo Holdings Company Limited 300 19,405 595 USD DaVita Incorporated 799 68,434 423 USD DCC plc 61 4,722 (99) USD Demae-Can Company Limited (200) (5,338) (771) USD Diamond Hill Investment Group Incorporated 121 15,285 252 USD Digital Realty Trust Incorporated (19) (2,788) (93) USD Digital Turbine Incorporated 418 13,685 13 USD Direct Line Insurance Group plc 11,115 38,766 (4,083) USD Discovery Incorporated 1,667 36,291 (1,084) USD Discovery Incorporated Class C 3,756 73,618 (3,005) USD Dolby Laboratories Incorporated (78) (5,170) (65) USD Domino’s Pizza Incorporated 89 37,850 1,808 USD Dow Incorporated (2,084) (98,052) 1,792 USD DR Horton Incorporated 158 11,950 555 USD Drax Group plc 3,640 12,497 168 USD Duke Realty Corporation 171 6,310 183 USD Dunkin’ Brands Group Incorporated (327) (26,785) (1,799) USD DuPont de Nemours Incorporated (1,865) (103,470) 1,306 USD Eagle Materials Incorporated (312) (26,932) (340) USD Eagle Pharmaceuticals Incorporated 355 15,080 994 USD East Japan Railway Company (2,000) (122,997) 7,355 USD East West Bancorp Incorporated 134 4,387 (23) USD Easterly Government Properties Incorporated 574 12,863 172 USD Eaton Vance Corporation 1,636 62,413 1,636 USD eBay Incorporated 102 5,314 200 USD Echo Global Logistics Incorporated 177 4,561 45 USD Eckert & Ziegler Strahle 248 12,689 368 USD Edion Corporation 1,300 13,620 (333) USD Eidos Therapeutics Incorporated 76 3,840 223 USD El Pollo Loco Holdings Incorporated 83 1,345 66 USD Elastic NV (42) (4,531) 24 USD Elders Limited 3,431 26,788 937 USD Electronic Arts Incorporated 722 94,156 1,531 USD Elisa Oyj 1,377 80,955 239

Wells Fargo (Lux) Worldwide Fund | 141

Notes to financial statements (unaudited) (continued)

USD value of USD unrealised market appreciation/ Currency Security Shares value (depreciation)

Alternative Risk Premia Fund (continued) USD Emergent BioSolutions Incorporated 158 16,326 526 USD Empire Company Limited 5,700 165,450 6,847 USD Employers Holdings Incorporated 66 1,997 17 USD ENAV SpA 645 2,449 (118) USD Enbridge Incorporated (2,700) (78,878) 2,149 USD Ennis Incorporated 1,001 17,457 90 USD Epiroc AB 2,947 40,906 496 USD Equitable Holdings Incorporated (3,653) (66,631) (2,192) USD Equity LifeStyle Properties Incorporated 97 5,946 94 USD eRex Company Limited 200 2,076 25 USD Erie Indemnity Company 27 5,678 (83) USD Etsy Incorporated (136) (16,542) (764) USD Euglena Company Limited (300) (2,517) 126 USD Eurofins Scientific SE 46 36,440 1,024 USD Euronet Worldwide Incorporated (178) (16,216) (162) USD EverQuote Incorporated 187 7,226 (367) USD Exact Sciences Corporation (753) (76,768) (21,415) USD Expeditors International of Washington Incorporated 79 7,151 173 USD EZCORP Incorporated 2,843 14,300 0 USD F5 Networks Incorporated 505 61,999 2,525 USD FANUC Corporation (700) (134,341) 1,663 USD Fast Retailing Company Limited (300) (188,526) (4,074) USD Faurecia SE 183 7,888 633 USD FedEx Corporation (841) (211,528) (10,748) USD Fidelity National Information Services Incorporated (690) (101,575) (2,201) USD FIH Mobile Limited 92,000 13,146 919 USD First Capital Real Estate Investment Trust 3,200 31,146 (1,506) USD First Solar Incorporated (344) (22,773) (1,558) USD Fisher & Paykel Healthcare Corporation Limited 269 5,937 257 USD Five Below Incorporated (173) (21,971) 398 USD Floor & Decor Holdings Incorporated (190) (14,212) (484) USD Ford Motor Company (8,700) (57,942) 1,827 USD Fortescue Metals Group Limited 2,354 27,655 (241) USD Foundation Building Materials Incorporated 270 4,244 311 USD Fox Corporation 1,972 55,157 2,130 USD Freeport-McMoRan Incorporated (3,386) (52,957) 34 USD Fresh Del Monte Produce Incorporated 423 9,695 152 USD Frontier Real Estate Investment Corporation (1) (3,406) (124) USD Fuchs Petrolub SE 3,356 170,638 12,253 USD Fuji Kyuko Company Limited (100) (3,727) 26 USD Fuji Seal International Incorporated (1,200) (23,076) (560) USD Fujitsu Limited 500 68,309 (102)

142 | Wells Fargo (Lux) Worldwide Fund

Notes to financial statements (unaudited) (continued)

USD value of USD unrealised market appreciation/ Currency Security Shares value (depreciation)

Alternative Risk Premia Fund (continued) USD Fukuoka Financial Group Incorporated 8,400 141,187 (10,909) USD G4S International Finance plc 4,611 11,893 923 USD Galenica AG 473 32,891 (1,427) USD Gaming and Leisure Properties Incorporated (42) (1,551) (35) USD GATX Corporation (169) (10,774) (275) USD Gecina SA 1,111 146,458 7,679 USD General Electric Company (9,217) (57,422) 1,106 USD Genus plc 880 43,641 1,499 USD Geo Holdings Corporation 1,700 27,016 (320) USD Gerresheimer AG 23 2,574 13 USD GlaxoSmithKline plc 277 5,193 (77) USD Global Blood Therapeutics Incorporated (138) (7,609) (144) USD Global Medical Real Estate Investment Trust Incorporated 102 1,377 32 USD Global Payments Incorporated (616) (109,389) (1,244) USD GNI Group Limited 200 7,128 382 USD Gold Road Resources Limited (6,090) (6,416) 845 USD Goosehead Insurance Incorporated 67 5,802 334 USD GrainCorp Limited 3,662 9,917 (798) USD Greif Incorporated 253 9,161 314 USD Grenke AG (101) (3,735) (71) USD Grifols SA 3,069 88,250 2,282 USD Group 1 Automotive Incorporated 52 4,596 182 USD Groupe Bruxelles Lambert SA (491) (44,265) (179) USD Guardant Health Incorporated (190) (21,238) (971) USD Gurunavi Incorporated 2,200 15,105 (218) USD Halma plc 223 6,737 348 USD Hammerson plc (1,478) (311) 58 USD Hammerson plc RTS (4,384) (74) 50 USD Hanesbrands Incorporated 5,612 88,389 2,582 USD Hang Seng Bank Limited (7,000) (103,703) 2,154 USD Hargreaves Lansdown plc (1,679) (33,774) 178 USD Harmonic Drive Systems Incorporated (100) (6,449) (197) USD Haverty Furniture Companies Incorporated 281 5,884 39 USD Haynes International Incorporated 114 1,948 (107) USD HCI Group Incorporated 668 32,926 (1,677) USD Healios KK (200) (3,576) 156 USD HealthEquity Incorporated (401) (20,599) (1,199) USD Heiwa Corporation (600) (9,868) 642 USD HelloFresh SE 117 6,502 868 USD Helmerich & Payne Incorporated (100) (1,465) 67 USD Hisamitsu Pharmaceutical Company Incorporated 100 5,112 (64) USD Hiscox Limited (467) (5,389) (80)

Wells Fargo (Lux) Worldwide Fund | 143

Notes to financial statements (unaudited) (continued)

USD value of USD unrealised market appreciation/ Currency Security Shares value (depreciation)

Alternative Risk Premia Fund (continued) USD Hitachi Zosen Corporation 2,900 12,294 (68) USD HollyFrontier Corporation 158 3,114 (237) USD HomeServe plc (667) (10,629) (33) USD Hong Kong & China Gas Company Limited (74,000) (107,451) 63 USD Hormel Foods Corporation 104 5,085 44 USD Hosiden Corporation 200 1,808 (62) USD Houlihan Lokey Incorporated 196 11,574 478 USD House Foods Group Incorporated (800) (28,436) (500) USD Howard Hughes Corporation (192) (11,059) (271) USD HSBC Holdings plc (9,549) (37,358) (2,183) USD Hub Group Incorporated 137 6,877 206 USD HubSpot Incorporated (50) (14,612) (378) USD Huntington Ingalls Industries Incorporated 587 82,620 (1,849) USD Hurricane Energy plc (90,564) (4,296) (1,110) USD Hysan Development Company Limited (10,000) (30,074) (10) USD Hyster-Yale Materials Handling Incorporated 383 14,228 (61) USD iA Financial Corporation Incorporated 3,100 107,908 447 USD IAA Incorporated (426) (22,182) (584) USD ICADE 1,159 64,939 2,730 USD IDOM Incorporated 1,400 8,446 (26) USD iHeartMedia Incorporated 236 1,916 (172) USD II-VI Incorporated (90) (3,650) (184) USD Immunomedics Incorporated (448) (38,093) 170 USD Independent Bank Corporation 206 2,589 (43) USD Informa plc (2,374) (11,506) (344) USD Ingles Markets Incorporated 501 19,058 1,303 USD Ingredion Incorporated 1,062 80,372 (3,260) USD Inovalon Holdings Incorporated 190 5,026 340 USD Insight Enterprises Incorporated 272 15,390 52 USD Insurance Australia Group Limited (32,905) (104,125) 5,153 USD Interactive Brokers Group Incorporated (220) (10,633) (95) USD InterDigital Incorporated (47) (2,682) 14 USD Intermediate Capital Group plc (1,165) (17,918) (573) USD Internet Initiative Japan Incorporated 700 31,514 (389) USD Intra-Cellular Therapies Incorporated (222) (5,697) 983 USD Intrum AB (67) (1,642) (85) USD Intu Properties plc (23,950) (549) (5) USD Iriso Electronics Company Limited (700) (28,461) (155) USD Iron Mountain Incorporated 174 4,661 (83) USD Ironwood Pharmaceuticals Incorporated 1,172 10,542 (826) USD Ishihara Sangyo Kaisha Limited 600 4,129 (141) USD Israel Discount Bank Limited 26,731 72,112 1,005

144 | Wells Fargo (Lux) Worldwide Fund

Notes to financial statements (unaudited) (continued)

USD value of USD unrealised market appreciation/ Currency Security Shares value (depreciation)

Alternative Risk Premia Fund (continued) USD iStar Incorporated 177 2,090 (3) USD Itochu Techno-Solutions Corporation 3,500 132,774 (2,930) USD ITV plc 121,184 105,643 12,890 USD Ivanhoe Mines Limited (12,300) (44,709) 6,361 USD Iwatani Corporation 1,100 41,241 (938) USD Izumi Company Limited (300) (10,939) (7) USD J Sainsbury plc 1,986 4,890 (108) USD JC Penney Company Incorporated 25,294 6,045 (329) USD Jack Henry & Associates Incorporated 337 54,793 1,139 USD Japan Airport Terminal Company Limited 1,400 62,023 (517) USD Japan Hotel Real Estate Investment Trust Investment Company (15) (7,412) (568) USD Japan Post Bank Company Limited (1,400) (10,920) 216 USD Japan Post Holdings Company Limited (21,800) (148,655) 5,583 USD JB Hunt Transport Services Incorporated 1,145 144,705 (5,542) USD John B Sanfilippo & Son Incorporated 338 25,478 301 USD Johnson Matthey plc 186 5,652 85 USD Jones Lang LaSalle Incorporated 994 95,086 (3,052) USD Juniper Networks Incorporated 268 5,762 (394) USD Just Group plc 9,228 5,354 90 USD K12 Incorporated 93 2,450 (150) USD Kadokawa Corporation 100 2,650 3 USD Kaken Pharmaceutical Company Limited 100 4,583 (32) USD Kamigumi Company Limited 400 7,882 (335) USD Karyopharm Therapeutics Incorporated 104 1,518 (154) USD KAZ Minerals plc (238) (1,609) 78 USD Keihan Holdings Company Limited 200 8,304 (307) USD Kelly Services Incorporated 1,398 23,822 629 USD Kennedy-Wilson Holdings Incorporated (132) (1,917) (4) USD Keppel DC Real Estate Investment Trust 11,800 25,222 (558) USD Kering SA (87) (57,711) 1,202 USD Kerry Properties Limited 2,000 5,144 (121) USD Keyence Corporation (400) (186,992) (10,741) USD Kforce Incorporated 649 20,878 (130) USD Kimberly-Clark Corporation 41 6,054 73 USD Kinder Morgan Incorporated (1,537) (18,951) 815 USD Kinnevik AB 3,445 140,268 13,223 USD KKR & Company Incorporated 166 5,700 (32) USD Klab Incorporated 1,600 14,377 128 USD Kloeckner & Company SE 3,700 23,585 3,465 USD Knight-Swift Transportation Holdings Incorporated 2,803 114,082 (2,354) USD Kogan.com Limited 803 11,723 81 USD Koninklijke Vopak NV 1,808 101,877 (1,748)

Wells Fargo (Lux) Worldwide Fund | 145

Notes to financial statements (unaudited) (continued)

USD value of USD unrealised market appreciation/ Currency Security Shares value (depreciation)

Alternative Risk Premia Fund (continued) USD Kratos Defense & Security Solutions Incorporated (449) (8,657) 216 USD Kroger Company 3,725 126,315 1,676 USD Kura Sushi Incorporated 300 16,356 200 USD Kurita Water Industries Limited 2,600 85,979 (1,966) USD Kusuri no Aoki Holdings (200) (16,282) 978 USD Kyocera Corporation (1,000) (57,257) 1,421 USD KYORIN Holdings Incorporated 1,700 34,461 (1,140) USD L Brands Incorporated (505) (16,064) (1,192) USD Land Securities Group plc (15,239) (102,594) (2,681) USD Lands’ End Incorporated 737 9,603 (1,334) USD Lannett Company Incorporated 1,215 7,424 (49) USD LANXESS AG 138 7,896 (82) USD Lear Corporation 167 18,211 (339) USD Learning Technologies Group 3,201 5,411 (239) USD Leidos Holdings Incorporated 1,193 106,356 859 USD LeMaitre Vascular Incorporated 94 3,058 37 USD Levi Strauss & Company 250 3,350 350 USD Lexicon Pharmaceuticals Incorporated 5,543 7,982 (665) USD Lightspeed POS Incorporated (100) (3,204) (195) USD Lincoln National Corporation (216) (6,767) 45 USD Littelfuse Incorporated (182) (32,276) (1,747) USD LiveRamp Holdings Incorporated (460) (23,814) (621) USD Luminex Corporation 215 5,644 135 USD LVMH Moet Hennessy Louis Vuitton SE (273) (127,737) (962) USD Macerich Company (101) (686) 8 USD Madrigal Pharmaceuticals Incorporated (29) (3,443) 68 USD MAG Silver Corporation (1,100) (17,885) 136 USD Magellan Health Incorporated 18 1,364 82 USD Manitowoc Company Incorporated 409 3,440 0 USD ManTech International Corporation 242 16,669 (278) USD Mapletree Commercial Trust 88,600 127,280 (3,509) USD MarineMax Incorporated 168 4,313 109 USD Match Group Incorporated 1,291 142,849 4,906 USD Matrix Service Company 1,381 11,531 (249) USD Matsui Securities Company Limited (8,000) (71,976) 717 USD MaxLinear Incorporated (582) (13,526) 122 USD MCJ Company Limited 900 8,234 159 USD Mebuki Financial Group Incorporated 2,200 4,992 (52) USD Medifast Incorporated 12 1,973 (93) USD Megmilk Snow Brand Company Limited 700 16,945 314 USD Meidensha Corporation 300 4,622 (140) USD Merck KGaA 88 12,830 19

146 | Wells Fargo (Lux) Worldwide Fund

Notes to financial statements (unaudited) (continued)

USD value of USD unrealised market appreciation/ Currency Security Shares value (depreciation)

Alternative Risk Premia Fund (continued) USD Meridian Bioscience Incorporated 113 1,919 (39) USD Meta Financial Group Incorporated 192 3,690 23 USD Microchip Technology Incorporated (82) (8,426) (349) USD Mirati Therapeutics Incorporated (50) (8,303) (195) USD Mirvac Group 3,093 4,849 188 USD Mitek Systems Incorporated 486 6,192 340 USD Mitsubishi Estate Company Limited (6,800) (103,004) 1,714 USD Mitsubishi Gas Chemical Company Incorporated 1,200 22,324 (374) USD Mitsubishi UFJ Lease & Finance Company Limited 22,200 103,149 (7,745) USD Mizuho Financial Group Incorporated (14,820) (184,978) 10,459 USD Model N Incorporated 252 8,891 (360) USD Monolithic Power Systems Incorporated (6) (1,678) (142) USD Monro Incorporated (48) (1,947) 40 USD Morinaga Milk Industry Company Limited 100 5,273 116 USD Mosaic Company (6,317) (115,412) (2,906) USD Mr Cooper Group Incorporated 208 4,643 243 USD Murphy USA Incorporated 198 25,397 (1,366) USD MyoKardia Incorporated (83) (11,315) (828) USD MYR Group Incorporated 619 23,014 1,832 USD Myriad Genetics Incorporated 87 1,134 40 USD Nagoya Railroad Company Limited 200 5,483 (203) USD Nankai Electric Railway (2,000) (44,389) 1,396 USD Natera Incorporated 29 2,095 275 USD National Instruments Corporation (244) (8,711) (239) USD National Vision Holdings Incorporated (242) (9,254) (215) USD Natus Medical Incorporated 56 959 (6) USD NEC Networks & System Integration Corporation 600 11,533 (284) USD Nektar Therapeutics (261) (4,330) 736 USD Network International Holdings plc (3,092) (10,875) (1,542) USD New Relic Incorporated (122) (6,876) (83) USD Newpark Resources Incorporated 564 592 (237) USD NexPoint Residential Trust Incorporated 92 4,080 371 USD Next plc 342 26,220 263 USD NIB Holdings Limited 404 1,184 (48) USD Nibe Industrier AB (616) (15,832) (632) USD Nichi-Iko Pharmaceutical Company Limited 2,600 29,555 (527) USD Nidec Corporation (2,000) (187,556) (3,198) USD Nielsen Holdings plc (7,811) (110,760) (859) USD Nihon M&A Center Incorporated (300) (17,163) (807) USD Nippon Electric Glass Company (2,000) (37,376) 1,825 USD Nippon Express Company Limited 2,800 163,389 (2,587) USD Nippon Gas Company Limited 300 15,162 2,260

Wells Fargo (Lux) Worldwide Fund | 147

Notes to financial statements (unaudited) (continued)

USD value of USD unrealised market appreciation/ Currency Security Shares value (depreciation)

Alternative Risk Premia Fund (continued) USD Nippon Steel Trading Corporation 1,000 28,567 (1,594) USD Nissan Motor Company Limited (37,200) (131,561) 107 USD Nisshin OilliO Group Limited 700 21,142 (404) USD Nobina AB 347 2,281 (22) USD Noble Energy Incorporated (3,212) (27,463) 1,413 USD Nokia Oyj (27,504) (107,647) 88 USD Nomura Real Estate Holdings Incorporated 400 7,612 (296) USD Nomura Research Institute Limited 200 5,889 (220) USD Nordson Corporation (107) (20,525) (439) USD Northview Apartment Real Estate Investment Trust 1,200 32,461 909 USD NortonLifeLock Incorporated 3,820 79,609 955 USD Norwegian Air Shuttle AS 2,213 223 (18) USD Novagold Resources Incorporated (1,500) (17,866) (984) USD Novanta Incorporated (25) (2,634) (90) USD NRG Energy Incorporated 2,635 81,000 4,190 USD Nutrien Limited (1,600) (62,736) 1,281 USD NXP Semiconductors NV (1,053) (131,425) (3,643) USD OC Oerlikon Corporation AG (398) (3,170) 139 USD Occidental Petroleum Corporation (482) (4,825) 617 USD Occidental Petroleum Corporation (60) (180) (4) USD OCI NV (922) (11,818) (1,048) USD Office Properties Income Trust 79 1,637 (70) USD Oil Refineries Limited 12,215 2,176 9 USD Oisix ra daichi Incorporated 200 6,475 243 USD Okinawa Electric Power Company Incorporated 2,300 36,033 (1,170) USD Okumura Corporation (800) (20,085) 459 USD Old Dominion Freight Line Incorporated 606 109,638 1,400 USD Ollie’s Bargain Outlet Holdings Incorporated (133) (11,618) (196) USD OMV AG 188 5,144 (365) USD Onex Corporation 2,100 93,680 292 USD Open Door Incorporated (400) (5,232) 146 USD OPKO Health Incorporated 1,214 4,480 534 USD Organo Corporation 300 16,265 195 USD Orica Limited 502 5,589 (312) USD Oriental Land Company Limited/Japan (800) (112,196) 2,970 USD Orion Oyj 2,867 129,894 (533) USD Orpea (115) (13,066) (37) USD OSG Corporation (600) (9,614) (74) USD Otsuka Corporation 2,000 102,203 (3,030) USD Overstock.com Incorporated 59 4,286 (108) USD Owens & Minor Incorporated 1,790 44,947 19,511 USD Owens Corning 142 9,771 358

148 | Wells Fargo (Lux) Worldwide Fund

Notes to financial statements (unaudited) (continued)

USD value of USD unrealised market appreciation/ Currency Security Shares value (depreciation)

Alternative Risk Premia Fund (continued) USD PACCAR Incorporated 67 5,714 229 USD Pacific Biosciences of California Incorporated (1,001) (9,880) (1,532) USD Pacific Century Premium Developments Limited 46,116 12,161 260 USD Packaging Corporation of America 1,022 111,449 1,042 USD PagerDuty Incorporated (55) (1,491) (17) USD Pandora AS 342 24,671 (185) USD Papa John’s International Incorporated 148 12,177 (324) USD Par Pacific Holdings Incorporated 1,634 11,062 (1,650) USD Parsley Energy Incorporated (390) (3,650) 62 USD Pasona Group Incorporated 200 3,052 82 USD PayPal Holdings Incorporated (615) (121,173) (8,499) USD PBF Energy Incorporated 483 2,748 (546) USD PC Connection Incorporated 458 18,805 362 USD PCCW Limited 427,000 255,441 (5,716) USD PDL BioPharma Incorporated 3,118 9,822 0 USD Pepper Food Service Company Limited 300 937 (82) USD Perseus Mining Limited 1,784 1,770 (214) USD PetMed Express Incorporated 361 11,415 357 USD Pharma Mar SA 117 14,815 1,272 USD Pharming Group NV 8,791 9,796 76 USD Phibro Animal Health Corporation 743 12,928 (193) USD Pilbara Minerals Limited (38,868) (9,260) 1,686 USD Pinterest Incorporated (1,567) (65,046) (7,271) USD PKSHA Technology Incorporated (100) (2,613) 54 USD Planet Fitness Incorporated (332) (20,458) (1,832) USD Pluralsight Incorporated (70) (1,199) 23 USD Plus500 Limited 455 9,197 346 USD Pola Orbis Holdings Incorporated (1,500) (28,283) 861 USD Polaris Incorporated 492 46,415 3,183 USD Porsche Automobil Holding SE (398) (23,678) (843) USD Post Holdings Incorporated (77) (6,622) (118) USD Prestige Consumer Healthcare Incorporated 443 16,134 487 USD Prima Meat Packers Limited 1,300 40,083 1,182 USD Progressive Corporation 63 5,964 (169) USD ProPetro Holding Corporation 360 1,462 (108) USD Prosus NV (622) (57,412) (1,886) USD Proto Labs Incorporated (19) (2,461) 97 USD Providence Service Corporation 16 1,487 96 USD Prysmian SpA 1,334 38,723 870 USD Puma Biotechnology Incorporated 253 2,553 47 USD Pure Storage Incorporated (689) (10,604) (482) USD QAD Incorporated 168 7,090 92

Wells Fargo (Lux) Worldwide Fund | 149

Notes to financial statements (unaudited) (continued)

USD value of USD unrealised market appreciation/ Currency Security Shares value (depreciation)

Alternative Risk Premia Fund (continued) USD Qantas Airways Limited 3,516 10,311 435 USD QBE Insurance Group Limited (26,418) (164,321) 7,283 USD QTS Realty Trust Incorporated 133 8,382 53 USD Quad/Graphics Incorporated 2,135 6,469 (341) USD Quebecor Incorporated 2,300 57,537 1,103 USD QuinStreet Incorporated 451 7,144 397 USD Quotient Limited (464) (2,385) 213 USD Raksul Incorporated (300) (12,233) 427 USD Randstad NV 2,432 126,818 3,532 USD Rational AG (20) (15,687) (1,670) USD Ratos AB 5,167 19,264 693 USD RBC Bearings Incorporated (102) (12,363) (549) USD Real Matters Incorporated 500 9,744 915 USD Reata Pharmaceuticals Incorporated (10) (974) 70 USD Recipharm AB 1,852 32,134 (43) USD Recordati Industria Chimica e Farmaceutica SpA 107 5,481 (91) USD Red Robin Gourmet Burgers Incorporated 113 1,487 (6) USD Regeneron Pharmaceuticals Incorporated 9 5,038 37 USD Relia Incorporated 200 2,524 (43) USD Renesas Electronics Corporation (7,800) (57,249) (623) USD Renewable Energy Group Incorporated 551 29,434 3,604 USD Renishaw plc (198) (14,317) (2,034) USD ResMed Incorporated 31 5,314 (2) USD Restaurant Brands International Incorporated (900) (51,693) (2,703) USD Retail Value Incorporated 454 5,707 341 USD REV Group Incorporated 351 2,769 116 USD Revance Therapeutics Incorporated (171) (4,299) 657 USD Revolve Group Incorporated 892 14,656 (919) USD RH (10) (3,826) (106) USD Rhythm Pharmaceuticals Incorporated (117) (2,535) 586 USD Rigel Pharmaceuticals Incorporated 2,755 6,612 28 USD RioCan Real Estate Investment Trust 4,300 45,404 (1,344) USD Rite Aid Corporation 202 1,917 (844) USD Robert Half International Incorporated 1,577 83,486 1,530 USD Rocket Internet SE (690) (15,109) (2) USD Rogers Corporation (28) (2,746) 59 USD Rolls-Royce Holdings plc (29,750) (49,395) 11,754 USD Royal Bank of Canada (900) (63,190) 565 USD Royal Gold Incorporated (17) (2,043) 42 USD RPA Holdings Incorporated (200) (1,620) 39 USD RPM International Incorporated 91 7,538 330 USD RR Donnelley & Sons Company 2,629 3,838 131

150 | Wells Fargo (Lux) Worldwide Fund

Notes to financial statements (unaudited) (continued)

USD value of USD unrealised market appreciation/ Currency Security Shares value (depreciation)

Alternative Risk Premia Fund (continued) USD RTS SAS 69,966 19,785 15,462 USD Rubius Therapeutics Incorporated (196) (982) (3) USD Rush Enterprises Incorporated 336 16,981 682 USD Russel Metals Incorporated 400 5,458 293 USD RWE AG (625) (23,406) (1,239) USD SAAB AB 4,391 14,582 487 USD Sage Group plc 2,933 27,257 389 USD Sage Therapeutics Incorporated (335) (20,475) (415) USD Salesforce.com Incorporated (394) (99,020) (2,470) USD Sanrio Company Limited (3,300) (59,548) 1,773 USD Saras SpA 24,945 13,030 (1,085) USD Sartorius AG 22 9,017 277 USD SAS AB 7,774 3,318 2,132 USD Savills plc 920 9,247 (120) USD ScanSource Incorporated 594 11,779 315 USD Scentre Group 3,220 5,127 (55) USD Schindler Holding AG 304 82,986 698 USD Schlumberger NV (4,115) (64,029) 7,037 USD Schneider National Incorporated 124 3,067 (72) USD Schnitzer Steel Industries Incorporated 1,545 29,710 (386) USD Scholastic Corporation 99 2,078 23 USD Seagate Technology plc 2,245 110,611 2,335 USD SecureWorks Corporation 983 11,196 (550) USD Segro plc 14,205 170,709 (1,023) USD Semtech Corporation (53) (2,807) (95) USD Senko Group Holdings Company Limited 400 3,729 (16) USD Service Corporation International (184) (7,761) (351) USD Service Stream Limited 2,412 3,566 346 USD Seven Bank Limited 46,300 112,210 (2,769) USD Seven Group Holdings Limited (661) (8,584) (268) USD Severn Trent plc 2,781 87,559 2,155 USD Shaftesbury plc (438) (2,808) 4 USD Shima Seiki Manufacturing Limited (700) (11,062) (59) USD Shimamura Company Limited 100 9,714 1,199 USD Shinsei Bank Limited 400 4,939 (165) USD Silicon Laboratories Incorporated (54) (5,284) (167) USD Sims Metal Management Limited 3,538 19,473 (1,982) USD Simulations Plus Incorporated 108 8,139 1,232 USD Singapore Telecommunications Limited (39,600) (61,977) 2,618 USD Six Flags Entertainment Corporation (99) (2,010) 171 USD SIXT SE (140) (12,617) (207) USD Skanska AB 84 1,774 49

Wells Fargo (Lux) Worldwide Fund | 151

Notes to financial statements (unaudited) (continued)

USD value of USD unrealised market appreciation/ Currency Security Shares value (depreciation)

Alternative Risk Premia Fund (continued) USD SkyWest Incorporated (36) (1,075) 60 USD SMART Global Holdings Incorporated 224 6,124 313 USD Smith & Wesson Brands Incorporated 149 2,312 45 USD SMS Company Limited (400) (11,615) (387) USD Snap Incorporated (240) (6,266) (535) USD SNC-Lavalin Group Incorporated (200) (3,207) 167 USD SoftBank Group Corporation (1,200) (74,250) (1,462) USD Softcat plc 1,141 17,742 419 USD Sojitz Corporation (10,100) (22,921) 1,007 USD Sonic Automotive Incorporated 134 5,381 265 USD Sonic Healthcare Limited 342 8,122 (202) USD Sotetsu Holdings Incorporated (300) (8,087) 305 USD Southern Company 103 5,585 123 USD SP Plus Corporation 86 1,544 65 USD Spark Infrastructure Group (17,551) (25,783) 1,563 USD Spark New Zealand Limited 34,215 106,761 209 USD SpartanNash Company 855 13,979 (829) USD Spin Master Corporation 500 10,792 (253) USD S-Pool Incorporated 200 1,603 85 USD Square Enix Holdings Company Limited 200 13,236 87 USD SSE plc 2,250 35,019 1,161 USD StarHub Limited 9,000 7,933 28 USD Steel Dynamics Incorporated 3,768 107,878 (2,713) USD Sterling Construction Company Incorporated 1,449 20,518 1,492 USD Stewart Information Services Corporation 481 21,034 1,145 USD Stitch Fix Incorporated 67 1,818 (129) USD StoneX Group Incorporated 961 49,165 884 USD Suez SA 523 9,663 555 USD SUMCO Corporation 400 5,644 79 USD Sumitomo Heavy Industries Limited 200 4,653 (131) USD Sunrun Incorporated (90) (6,936) (1,518) USD Superior Plus Corporation 400 3,533 (62) USD Swatch Group AG 1,268 57,100 850 USD Swedish Match AB 73 5,969 127 USD Swire Properties Limited (44,600) (118,171) (3,306) USD Swiss Prime Site AG 52 4,723 (66) USD Swiss Re AG (1,724) (127,884) 3,028 USD Swisscom AG 108 57,214 (1,607) USD Sykes Enterprises Incorporated 573 19,602 1,627 USD Synopsys Incorporated 41 8,773 492 USD Systena Corporation 200 3,489 (169) USD T Rowe Price Group Incorporated 55 7,052 191

152 | Wells Fargo (Lux) Worldwide Fund

Notes to financial statements (unaudited) (continued)

USD value of USD unrealised market appreciation/ Currency Security Shares value (depreciation)

Alternative Risk Premia Fund (continued) USD Taiheiyo Cement Corporation 300 7,660 (329) USD Taiyo Yuden Company Limited (100) (3,150) (43) USD Takara Holdings Incorporated (1,500) (16,657) (386) USD Take-Two Interactive Software Incorporated 36 5,948 32 USD Tama Home Company Limited 1,400 18,466 230 USD Target Corporation 54 8,501 408 USD TechTarget Incorporated 43 1,890 210 USD Teijin Limited 10,400 161,287 (5,845) USD Telecom Italia SpA 75,026 30,293 (182) USD Telenet Group Holding NV 168 6,521 340 USD Telenor ASA (5,920) (99,390) (5,556) USD Tellurian Incorporated (2,201) (1,754) (81) USD Tempur Sealy International Incorporated (127) (11,327) (308) USD Tenaris SA 4,860 24,213 (572) USD Tenneco Incorporated 156 1,083 (8) USD Tesla Incorporated (95) (40,756) 1,936 USD T-Gaia Corporation 1,100 20,702 (440) USD Thomson Reuters Corporation (1,500) (119,703) (4,434) USD Toa Corporation 300 4,819 49 USD Tobu Railway Company Limited 200 6,180 (242) USD Toho Gas Company Limited 2,100 103,910 2,406 USD Toho Holdings Company Limited 600 12,939 (277) USD Tohoku Electric Power Company Incorporated 11,900 119,263 (4,040) USD Tokai Tokyo Financial Holdings Incorporated (1,800) (4,684) 112 USD Token Corporation 500 36,959 (291) USD Toppan Printing Company Limited 7,200 101,771 (6,879) USD Torex Gold Resources Incorporated 100 1,414 (109) USD TORIDOLL Holdings Corporation 200 2,715 (261) USD Toronto-Dominion Bank (2,200) (101,859) (1,430) USD Tosei Corporation 200 1,862 52 USD Toshiba Corporation (1,100) (28,061) 1,695 USD Tosoh Corporation 9,500 154,242 (4,393) USD Towa Pharmaceutical Company Limited 300 6,021 (248) USD Toyoda Gosei Company Limited 5,000 114,805 3,768 USD Trade Desk Incorporated (23) (11,932) (1,316) USD Trainline plc (1,594) (7,434) (299) USD Transcontinental Incorporated 800 9,877 207 USD Transocean Limited (736) (594) 136 USD Transurban Group (3,382) (34,533) (541) USD Tricida Incorporated (440) (3,986) 655 USD Triple-S Management Corporation 551 9,846 (264) USD TrueBlue Incorporated 1,621 25,109 (875)

Wells Fargo (Lux) Worldwide Fund | 153

Notes to financial statements (unaudited) (continued)

USD value of USD unrealised market appreciation/ Currency Security Shares value (depreciation)

Alternative Risk Premia Fund (continued) USD TrueCar Incorporated 1,307 6,535 (288) USD Trupanion Incorporated 56 4,418 552 USD Turning Point Therapeutics Incorporated (35) (3,058) (140) USD Twilio Incorporated (25) (6,177) (220) USD Tyler Technologies Incorporated 363 126,527 7,115 USD Uber Technologies Incorporated (1,301) (47,460) 13 USD UFP Industries Incorporated 28 1,582 108 USD UMH Properties Incorporated 1,093 14,799 (481) USD Umicore SA 1,052 43,757 (4,051) USD Uniper SE 5,648 182,313 5,404 USD United Internet AG 123 4,704 300 USD United Natural Foods Incorporated 150 2,231 (320) USD United Therapeutics Corporation 82 8,282 (1) USD Universal Corporation 276 11,559 (174) USD Universal Display Corporation (136) (24,581) (1,855) USD Universal Electronics Incorporated 69 2,604 (29) USD Universal Entertainment (800) (14,622) 617 USD Upwork Incorporated (156) (2,721) (317) USD Valaris plc 1,361 118 (9) USD Vanda Pharmaceuticals Incorporated 1,038 10,027 332 USD VAT Group AG (38) (7,249) (188) USD Vectrus Incorporated 456 17,328 (593) USD Venture Corporation Limited 4,800 68,155 487 USD Veoneer Incorporated (602) (8,849) (765) USD VEREIT Incorporated (12,633) (82,115) (3,158) USD Vericel Corporation 542 10,043 70 USD Verra Mobility Corporation (108) (1,043) (44) USD Verso Corporation 509 4,016 (575) USD ViaSat Incorporated (246) (8,460) 121 USD Vinci SA (991) (82,805) 1,893 USD Visa Incorporated (502) (100,385) (1,265) USD Viva Energy Group Limited 6,536 7,569 (344) USD VMware Incorporated 37 5,316 126 USD Vodafone Group plc (43,668) (57,879) (204) USD Vontobel Holding AG (83) (5,477) 20 USD Vornado Realty Trust 2,063 69,544 784 USD Vtech Holdings Limited 3,000 18,713 248 USD WR Berkley Corporation 103 6,298 1 USD WR Grace & Company (187) (7,534) 406 USD Wabash National Corporation 791 9,460 728 USD Waddell & Reed Financial Incorporated 698 10,365 70 USD Washington Prime Group Incorporated 1,864 1,207 4

154 | Wells Fargo (Lux) Worldwide Fund

Notes to financial statements (unaudited) (continued)

USD value of USD unrealised market appreciation/ Currency Security Shares value (depreciation)

Alternative Risk Premia Fund (continued) USD Watford Holdings Limited 156 3,579 (356) USD Webjet Limited (2,101) (5,935) (80) USD Weis Markets Incorporated 189 9,072 79 USD Welcia Holdings Company Limited 200 8,771 93 USD WESCO International Incorporated 125 3,500 (4) USD WESCO International Incorporated 47 2,069 57 USD West Pharmaceutical Services Incorporated 845 232,291 (1,639) USD Western Asset Mortgage Capital Corporation 1,208 2,464 (24) USD Western Digital Corporation (2,256) (82,457) (1,038) USD Western Union Company 5,825 124,830 (2,913) USD Westinghouse Air Brake Technologies Corporation (112) (6,931) 122 USD Westpac Banking Corporation (6,096) (74,123) (992) USD Westrock Company 1,210 42,035 (545) USD WEX Incorporated (208) (28,906) (96) USD WH Group Limited 36,500 29,773 (1,028) USD Wheaton Precious Metals Corporation (1,100) (53,969) 432 USD Whirlpool Corporation 40 7,356 246 USD Whitestone Real Estate Investment Trust 279 1,674 8 USD Williams Companies Incorporated (1,353) (26,586) 1,380 USD WillScot Mobile Mini Holdings Corporation (124) (2,068) (22) USD WisdomTree Investments Incorporated (467) (1,494) 23 USD Wix.com Limited (226) (57,596) (74) USD Wm Morrison Supermarkets plc 13,007 28,550 (1,097) USD Woodward Incorporated (297) (23,808) (600) USD World Fuel Services Corporation 711 15,066 (1,280) USD Worley Limited 1,205 8,399 (319) USD WPX Energy Incorporated (546) (2,675) (213) USD Wyndham Destinations Incorporated (40) (1,230) (6) USD Wyndham Hotels & Resorts Incorporated (315) (15,908) (161) USD Yamada Denki Company Limited 1,000 4,987 (27) USD Yamazaki Baking Company Limited 4,800 83,669 320 USD Yoshinoya Holdings Company Limited 200 3,745 (135) USD Yue Yuen Industrial Holdings Limited 68,500 111,017 1,064 USD Zendesk Incorporated (344) (35,404) (2,009) USD Zenkoku Hosho Company Limited (300) (11,856) (524) USD Zions Bancorp NA 138 4,032 (81) USD Zogenix Incorporated (481) (8,624) 2,352 USD Zscaler Incorporated (39) (5,487) (225)

27,324

Global Long/Short Equity Fund USD Airbus SE (10,696) (775,734) (3,763) USD Allakos Incorporated (4,312) (351,212) (12,677)

Wells Fargo (Lux) Worldwide Fund | 155

Notes to financial statements (unaudited) (continued)

USD value of USD unrealised market appreciation/ Currency Security Shares value (depreciation)

Global Long/Short Equity Fund (continued) USD Altice Europe NV (179,924) (856,640) 8,169 USD American Airlines Group Incorporated (3,271) (40,201) (1,178) USD Applied Therapeutics Incorporated (6,957) (144,427) (2,087) USD Aprea Therapeutics Incorporated (12,736) (306,428) (27,637) USD Arrowhead Pharmaceuticals Incorporated (10,599) (456,393) 16,746 USD Avrobio Incorporated (7,812) (101,712) 3,828 USD Axsome Therapeutics Incorporated (7,668) (546,345) 48,615 USD Boeing Company (10,598) (1,751,425) (149,220) USD Cara Therapeutics Incorporated (21,181) (269,528) 21,287 USD Carnival Corporation (106,344) (1,614,302) (111,661) USD Cybozu Incorporated 5,700 180,077 (10,284) USD Daito Trust Construction Company Limited 34,300 3,040,517 (6,667) USD Electric Power Development Company Limited 129,300 1,994,355 (60,174) USD Ellington Financial Incorporated (13,497) (165,473) (1,350) USD Enerplus Corporation (214,300) (392,694) (13,090) USD Eni SpA (228,777) (1,788,137) 63,183 USD Hess Corporation (17,562) (718,813) (26,870) USD Inter Pipeline Limited (30,800) (302,321) (6,511) USD Isetan Mitsukoshi Holdings Limited (446,200) (2,368,827) (21,076) USD JFE Holdings Incorporated (274,800) (1,924,089) 123,184 USD Kobe Bussan Company Limited 27,300 1,503,443 61,816 USD Lasertec Corporation 23,800 1,956,334 11,120 USD M3 Incorporated 35,300 2,183,526 (16,426) USD Madrigal Pharmaceuticals Incorporated (5,504) (653,490) (7,320) USD MRC Global Incorporated (32,890) (140,769) 25,325 USD Natwest Group plc (275,496) (377,278) (31,970) USD Nintendo Company Limited 5,000 2,833,456 (40,949) USD Nissan Motor Company Limited (551,400) (1,950,080) 1,593 USD Norwegian Cruise Line Holdings Limited (52,362) (895,914) (101,582) USD Occidental Petroleum Corporation (118,423) (1,185,414) 47,369 USD Occidental Petroleum Corporation (2,897) (8,691) (58) USD Odonate Therapeutics Incorporated (20,883) (280,459) 22,554 USD Onex Corporation (13,400) (597,770) (7,566) USD Ovintiv Incorporated (81,251) (663,008) 22,750 USD Peabody Energy Corporation (75,799) (174,338) 92,475 USD Phathom Pharmaceuticals Incorporated (2,617) (95,965) (5,051) USD Provention Bio Incorporated (1,350) (17,321) (675) USD Reata Pharmaceuticals Incorporated (4,415) (430,109) 49,404 USD Redwood Trust Incorporated (16,229) (122,042) (6,492) USD Relia Incorporated 4,400 55,533 (943) USD Relmada Therapeutics Incorporated (2,882) (108,421) (3,891) USD Renault SA (45,321) (1,175,667) (2,314)

156 | Wells Fargo (Lux) Worldwide Fund

Notes to financial statements (unaudited) (continued)

USD value of USD unrealised market appreciation/ Currency Security Shares value (depreciation)

Global Long/Short Equity Fund (continued) USD Rolls-Royce Holdings plc (536,942) (891,512) 221,938 USD Royal Caribbean Cruises Limited (27,142) (1,756,902) (94,726) USD Rubius Therapeutics Incorporated (12,123) (60,736) (3,152) USD Scientific Games Corporation (15,025) (524,523) (67,012) USD Suncor Energy Incorporated (72,700) (887,764) 19,118 USD thyssenkrupp AG (180,992) (910,701) 104,267 USD Tricida Incorporated (40,849) (370,092) 11,029 USD Triumph Group Incorporated (49,309) (321,002) (16,272) USD Uchida Yoko Company Limited 12,200 606,525 7,553 USD Vallourec SA (955) (18,932) (317) USD voestalpine AG (35,461) (934,606) (15,905) USD Welcia Holdings Company Limited 26,600 1,166,501 12,400 USD Whitbread plc (55,141) (1,506,602) (47,012) USD WPX Energy Incorporated (89,737) (439,711) (49,355) USD Wynn Resorts Limited (12,934) (928,791) (14,486) USD ZIOPHARM Oncology Incorporated (61,881) (155,940) (3,094)

4,910

As at 30 September 2020, Alternative Risk Premia Fund and Global Long/Short Equity Fund had segregated securities as collateral of USD 3,369,223 and USD 76,427,421, respectively, for open contracts for difference. These securities are included in the Portfolio of investments. As at 30 September 2020, the following Sub-Fund had commodity swaps outstanding:

USD value of USD unrealised Payment Maturity notional appreciation/ Currency Reference asset/index frequency date value (depreciation)

Alternative Risk Premia Fund USD Goldman Sachs Synthetic Total Return Swap 1 month 2/7/2021 16,700,000 108,059

As at 30 September 2020, Alternative Risk Premia Fund had segregated cash of USD 2,700,000 for open commodity swap contracts. This amount is included in Cash at banks in the Statement of assets and liabilities.

9. TAX STATUS The Fund is not liable for any Luxembourg tax on income, profits or gains, but it is liable in Luxembourg for an annual subscription tax (taxe d’abonnement), which is calculated and paid quarterly. USD Government Money Market Fund is liable in Luxembourg for a taxe d’abonnement at a rate of 0.01% per annum of its net assets. Each institutional class of USD Government Money Market Fund is exempt from a taxe d’abonnement to the extent its weighted residual portfolio maturity does not exceed 90 days and it has obtained the highest possible rating from a recognised credit rating agency. Each Sub-Fund, except USD Government Money Market Fund, is liable in Luxembourg for a taxe d’abonnement at a rate of (i) 0.05% per annum of the net assets of each class which is available to all investors and (ii) 0.01% per annum of the net assets of each class which is restricted to institutional investors. Each Sub-Fund is liable for value added taxes applicable to certain services, which are applied and incorporated in the fees incurred by each Sub-Fund. No stamp duty or other tax is payable in Luxembourg on the issue or redemption of shares. Tax is not applicable on investment on undertakings for collective investment in Luxembourg. No Luxembourg tax is payable on the realised capital gains or unrealised capital appreciation of the assets of the Fund.

Wells Fargo (Lux) Worldwide Fund | 157

Notes to financial statements (unaudited) (continued)

Dividends and interest received by the Sub-Funds on their investments are in many cases subject to irrecoverable withholding taxes at their source.

10. DISTRIBUTION POLICY Under normal circumstances, the Board of Directors does not intend to declare and make distributions with respect to the net investment income and realised capital gains, if any, attributable to the Accumulating Classes, which are represented with the suffix “acc.”. Accordingly, the net investment income of the Accumulating Classes will neither be declared nor distributed. However, the NAV per share of these Accumulating Classes will reflect any net investment income or capital gains.

Under normal circumstances, the Board of Directors intends to make distributions at least annually as at the end of the financial year, or at other time(s) to be determined by the Board of Directors, with respect to the net income, if any, attributable to certain Distributing Classes and with respect to gross income, if any, attributable to certain other Distributing Classes. With respect to USD Government Money Market Fund, distributions made by Distributing Classes may include realised gains less realised losses in addition to net income. With respect to the Global Equity Enhanced Income Fund, distributions made by Distributing Classes will include net income and, if necessary, net realised gains in seeking to pay a targeted quarterly yield. Distributing Classes that distribute net income will be represented with the suffix “distr.” and Distributing Classes that distribute gross income will be represented with the suffix “gross distr.”. A Sub-Fund will re-invest all distributions in additional shares of the same class of shares of the Sub-Fund giving rise to the distribution, and not distribute cash to shareholders in connection with any distributions, unless otherwise expressly requested by the relevant shareholder. The frequency of distributions for each Sub-Fund is available under wellsfargoassetmanagement.com. Distributing Classes that distribute gross income may result in shareholders receiving a higher dividend than they would have otherwise received and therefore may be subject to a higher income tax liability as a result. Shareholders should seek their own professional tax advice in this regard.

Also, with respect to such gross income Distributing Classes, since fees and expenses are applied to capital rather than to income, the potential for future appreciation of NAV of such shares may be eroded, and, under normal circumstances, the NAV of a gross income Distributing Class will typically be smaller than the NAV of a net income Distributing Class. A smaller NAV can result in performance variance when comparing gross income versus net income Distributing Classes.

With respect to the Alternative Risk Premia Fund and the Global Investment Grade Credit Fund, the Sub-Funds use an accounting practice known as equalisation, by which a portion of the proceeds from the subscription of shares, conversion of shares and the costs from redemption of shares, equivalent on a per share basis to the amount of undistributed net investment income on the date of the transaction, is credited or charged to undistributed net income. As a result, issues, conversions and redemptions of shares do not impact undistributed net investment income per share.

With respect to the Global Equity Enhanced Income Fund, the Sub-Fund also uses equalisation, by which a portion of the proceeds from the subscription of shares, conversion of shares and the costs from redemption of shares, equivalent on a per share basis to the amount of undistributed net investment income and also net realised gains on the date of the transaction, is credited or charged to undistributed net income and net realised gains. As a result, issues, conversions and redemptions of shares do not impact undistributed net investment income and net realised gains per share.

The Board of Directors may amend this policy at any time upon notice without prior shareholder approval. No distribution may be made which would result in the net assets of the Fund falling below the minimum provided for by Luxembourg law.

Dividends not claimed within five years from their payment date will lapse and revert to the relevant Sub-Fund.

11. SOFT COMMISSION ARRANGEMENTS To the extent not prohibited by applicable laws or regulations, each Sub-Adviser may, in circumstances in which two or more broker-dealers are in a position to offer comparable results for a portfolio transaction, give preference to a broker-dealer that has provided statistical or other research services to the Sub-Adviser. In selecting a broker-dealer under these circumstances, each Sub-Adviser will consider, in addition to the factors listed above, the quality of the research provided by the broker-dealer. Each Sub-Adviser may cause a Sub-Fund to pay higher commissions than those obtainable from other broker-dealers in exchange for such research services. The research services generally include: (1) furnishing advice as to the value of securities, the advisability of investing in, purchasing, or selling securities, and the advisability of securities or purchasers or sellers of securities; (2) furnishing analyses and reports concerning issuers, industries, securities, economic factors and trends, portfolio

158 | Wells Fargo (Lux) Worldwide Fund Notes to financial statements (unaudited) (continued)

strategy, and the performance of accounts; and (3) effecting securities transactions and performing functions incidental thereto. By allocating transactions in this manner, each Sub-Adviser is able to supplement its research and analysis with the views and information of securities firms. Information so received will be in addition to, and not in lieu of, the services required to be performed by the Sub-Advisers under the sub-advisory contracts, and the expenses of each Sub-Adviser will not necessarily be reduced as a result of the receipt of this supplemental research information.

Furthermore, research services furnished by broker-dealers through which each Sub-Adviser places securities transactions for a Sub-Fund may be used by the Sub-Advisers in servicing its other accounts, and although not all of these services may be used by the Sub-Advisers in connection with advising the Sub-Fund, they will always be in the interest of the Sub-Fund.

During the six months ended 30 September 2020, the following Sub-Funds participated in soft commission arrangements:

Emerging Global Global U.S. U.S. U.S. Emerging Markets Equity Small Small All Large U.S. Small China Markets Equity Global Enhanced Cap Cap Cap Cap Select Cap Soft dollar Equity Equity Income Equity Income Equity Innovation Growth Growth Equity Value commissions Fund Fund Fund Fund Fund1 Fund Fund Fund Fund Fund Fund Amount (USD) 15,233 29,996 243,807 5,053 9,418 1,535 777 109,767 6,769 86,658 16,938 # of transactions 106 232 510 160 128 776 111 1,186 86 616 1,963 1 The Sub-Fund commenced operations on 16 July 2020.

12. TRANSACTION COSTS Transaction costs incurred by the Sub-Funds relate to the purchase or sale of transferable securities, derivatives or other eligible assets. Transaction costs include commission costs, settlement fees and broker fees. Any depositary transaction costs of each Sub-Fund are included on the Statement of operations and changes in net assets under “Depositary bank and administration fees”. Not all transaction costs are separately identifiable. For fixed income investments, forward currency contracts and other derivative contracts, transaction costs are included in the purchase and sales price of the investment. These transactions costs are captured within the performance of each Sub-Fund.

The transaction costs incurred by the Sub-Funds during the six months ended 30 September 2020 are as follows:

USD

China Equity Fund 39,611 Emerging Markets Equity Fund 123,645 Emerging Markets Equity Income Fund 844,490 Global Equity Fund 22,774 1 Global Equity Absolute Return Fund 5,065 2 Global Equity Enhanced Income Fund 34,731 Global Factor Enhanced Equity Fund 12,233 Global Long/Short Equity Fund 198,553 Global Low Volatility Equity Fund 11,853 1 Global Multi-Asset Income Fund 34,153 Global Opportunity Bond Fund3 2,132 Global Small Cap Equity Fund 3,312 Small Cap Innovation Fund 1,218 U.S. All Cap Growth Fund 193,112 U.S. Large Cap Growth Fund 11,314 U.S. Select Equity Fund 147,471 U.S. Small Cap Value Fund 27,369 1 The Sub-Fund liquidated on 12 May 2020. 2 The Sub-Fund commenced operations on 16 July 2020. 3 The Sub-Fund liquidated on 27 August 2020.

Wells Fargo (Lux) Worldwide Fund | 159

Notes to financial statements (unaudited) (continued)

13. PARTIAL SWING PRICING If on any valuation day the aggregate transactions in shares of a Sub-Fund result in a net increase or decrease in net assets which exceeds a certain percentage of total net assets (the “threshold”), as established by the Board of Directors, the NAV of the relevant Sub-Fund will be adjusted by an amount not exceeding 1.50% (the “adjustment factor”) of that NAV, which reflects the estimated dealing costs (including brokerage fees, taxes, and pricing/market impacts) that may be incurred by the Sub- Fund and the estimated bid/offer spread of the assets in which the Sub-Fund invests. This adjustment acts as a counter to the dilution effect on the relevant Sub-Fund arising from large net cash inflows and outflows and aims to enhance the protection of the existing shareholders in the relevant Sub-Fund. The swing pricing mechanism may be applied to any Sub-Fund except the USD Government Money Market Fund. The adjustment up or down will be determined mechanically based on the predetermined threshold and adjustment factors. The adjustment will be an addition when the net movement results in a net increase in total net assets of the Sub-Fund and as a result, investors who subscribe for shares on that valuation day will effectively contribute an additional amount to offset the estimated dealing costs. The adjustment will be a deduction when the net movement results in a net decrease in total net assets of the Sub-Fund and as a result, shareholders who redeem their shares on that valuation day will effectively receive a lesser amount to offset the estimated dealing costs. The adjusted NAV will be applicable to all subscriptions, redemptions or switches in shares of the relevant Sub-Fund on that valuation day and will not take into account the specific circumstances of any individual investor transaction. The threshold is set by the Board of Directors taking into account factors such as prevailing market conditions, estimated dilution costs and the size of the relevant Sub-Fund. The adjustment factor for each Sub-Fund is established by the Board of Directors based on the historical liquidity and costs of trading assets of the type held by the relevant Sub-Fund and may be different between Sub-Funds. The dealing costs actually incurred following an adjustment are compared to the estimated dealing costs on at least a quarterly basis and a recommendation to change the threshold or adjustment factor for a Sub-Fund may be made if the difference between the actual and estimated costs exceed a certain percentage for two consecutive quarters. Any changes in the threshold or adjustment factor for a Sub-Fund must be approved by the Board of Directors. In addition, the Board of Directors or any duly authorised delegate of the Board of Directors may elect not to apply the adjustment factor to subscriptions of shares for inflows which are in line with the target size of a Sub-Fund and in other cases which are in the interest of existing shareholders. In such cases the Management Company or an affiliate may pay the amount of the otherwise applicable adjustment from its own assets in order to prevent dilution of shareholder value. In these circumstances, redemption requests will be dealt with based on the unadjusted Net Asset Value. All Sub-Funds participate in swing pricing except USD Government Money Market Fund. During the six months ended 30 September 2020, Emerging Markets Equity Fund, Emerging Markets Equity Income Fund, Global Equity Fund, Global Equity Enhanced Income Fund, Global Low Volatility Equity Fund, Global Opportunity Bond Fund, U.S. Short-Term High Yield Bond Fund and U.S. Small Cap Value Fund applied swing pricing adjustments. As at 30 September 2020, the NAV of each share class of each Sub-Fund was not subject to a swing pricing adjustment. 14. CORONAVIRUS (COVID-19) PANDEMIC On 11 March 2020, the World Health Organization announced that it had made the assessment that coronavirus disease 2019 (“COVID-19”) is a pandemic. The impacts of COVID-19 are adversely affecting the entire global economy, individual companies and investment products, and the market in general. There is significant uncertainty around the extent and duration of business disruptions related to COVID-19 and the impacts may be short term or may last for an extended period of time. The risk of further spreading of COVID-19 has led to significant uncertainty and volatility in the financial markets. Each Sub-Fund has been operating without any disruption and managed in line with its investment objectives. 15. GOVERNANCE STATEMENT The Board of Directors adheres to the Association of the Luxembourg Fund Industry (“ALFI”) Code of Conduct for Luxembourg investment funds. The code of conduct sets a framework of high-level principles and best practice recommendations for the governance of Luxembourg investment funds. 16. SUBSEQUENT EVENTS Effective 16 October 2020, the Board of Directors of the Fund approved the liquidations of the Sub-Funds of Global Low Volatility Equity Fund and U.S. Small Cap Value Fund. The Sub-Funds were each liquidated on 17 November 2020. There were no other significant events occurring after the date of the Statement of assets and liabilities which would require revision of the figures or disclosure in the financial statements.

160 | Wells Fargo (Lux) Worldwide Fund

Other Information (unaudited)

Preparing for LIBOR Transition The global financial industry is preparing to transition away from the London Interbank Offered Rate (LIBOR), a key benchmark interest rate, to new alternative rates. LIBOR underpins more than $350 trillion of financial contracts. It is the benchmark rate for a wide spectrum of products ranging from residential mortgages to corporate bonds to derivatives. Regulators have called for a market-wide transition away from LIBOR to successor reference rates by the end of 2021, which requires proactive steps be taken by issuers, counterparties, and asset managers to identify impacted products and adopt new reference rates.

Although the transition process away from LIBOR has become increasingly well-defined in advance of the anticipated discontinuation date, there remains uncertainty regarding the nature of successor reference rates, and any potential effects of the transition away from LIBOR on investment instruments that use it as a benchmark rate. The transition process may result in, among other things, increased volatility or illiquidity in markets for instruments that currently rely on LIBOR and could negatively impact the value of certain of these instruments. As of period end, at least one security that uses LIBOR as a reference rate was held by EUR Investment Grade Credit Fund, Global Investment Grade Credit Fund, U.S. Short-Term High Yield Bond Fund and USD Investment Grade Credit Fund. Wells Fargo Asset Management is monitoring LIBOR exposure closely and has put resources and controls in place to manage this transition effectively. Each Sub-Fund’s portfolio management team is evaluating LIBOR holdings to understand what happens to those securities when LIBOR ceases to exist, including examining security documentation to identify the presence or absence of fallback language identifying a replacement rate to LIBOR. While the pace of transition away from LIBOR will differ by asset class and investment strategy, the portfolio management team will monitor market conditions for those holdings to identify and mitigate deterioration or volatility in pricing and liquidity and ensure appropriate actions are taken in a timely manner.

Wells Fargo (Lux) Worldwide Fund | 161

Directors, Administration and Management (unaudited)

Registered Office Principal Distributor 80, route d’Esch Wells Fargo Asset Management Luxembourg S.A. L-1470 Luxembourg 33, rue de Gasperich Grand Duchy of Luxembourg H2O Building Floor 2 L-5826 Hesperange Grand Duchy of Luxembourg Board of Directors Nancy Wiser Chairperson of the Board of Directors Legal Advisers Head of Asset Management Operations, Elvinger Hoss Prussen, Société anonyme Wells Fargo Asset Management 2, Place Winston Churchill L-1340 Luxembourg Grand Duchy of Luxembourg Martijn de Vree Senior Solutions Manager, Wells Fargo Asset Management Depositary Bank, Administrator, Domiciliary, Listing Agent, Paying Agent, Registrar and Transfer Agent Brown Brothers Harriman (Luxembourg) S.C.A. Jürgen Meisch 80, route d’Esch Achalm Capital GmbH L-1470 Luxembourg Grand Duchy of Luxembourg Yves Wagner The Directors’ Office S.A. Cabinet de Révision Agréé Deloitte Audit, Société à responsabilité limitée Richard Goddard 20, boulevard de Kockelscheuer The Directors’ Office S.A. L-1821 Luxembourg Grand Duchy of Luxembourg

Management Company Wells Fargo Asset Management Luxembourg S.A. Austrian Paying Agent 33, rue de Gasperich UniCredit Bank Austria AG H2O Building Floor 2 Schottengasse 6-8 L-5826 Hesperange 1010 Vienna Grand Duchy of Luxembourg Austria

Investment Adviser Belgian Financial Services Agent Wells Fargo Funds Management, LLC ABN AMRO Private Banking 525 Market Street Kortrijsesteenweg 302 San Francisco, CA 94105 9000 Gent United States of America Belgium

Sub-Advisers French Representative and Paying Agent Wells Fargo Asset Management (International) Limited CACEIS Bank France 33 King William Street 1-3 Place Valhubert London EC4R 9AT 75103 Paris United Kingdom France

Wells Capital Management Incorporated German Paying and Information Agent 525 Market Street Marcard, Stein & Co AG San Francisco, CA 94105 Ballindamm 36 United States of America 20095 Hamburg Germany

162 | Wells Fargo (Lux) Worldwide Fund

Directors, Administration and Management (unaudited)

Hong Kong Representative Swiss Paying and Representative Agent Brown Brothers Harriman (Hong Kong) Limited BNP Paribas Securities Services, Paris* 13/F Man Yee Building Succursale de Zurich 68 Des Voeux Road Central Selnaustrasse 16 Hong Kong 8002 Zurich Switzerland Irish Facilities Agent Société Générale, Dublin Branch UK Representative IFSC House, 3rd Floor Wells Fargo Securities International Limited IFSC 33 King William Street Dublin 1 London EC4R 9AT Ireland United Kingdom

Italian Paying Agent Société Générale Securities Services SpA Via Benigno Crespi 19/A – MAC 2 20159 Milan Italy

BNP Paribas Securities Services Piazza Lina Bo Bardi n.3 20124 Milan Italy

Portuguese Paying Agent Banco Electronico de Servico Total, S.A. Praça Marquês de Pombal 3 1250-161 Lisbon Portugal

Singapore Representative RBC Investor Services Trust Singapore Limited 8 Marina View #26-01 Asia Square Tower 1 Singapore 018960 Singapore

Spanish Representative Agent Allfunds Bank S.A. Estafeta, 6, La Moraleja Complejo Plaza de la Fuente Edificio 3 28109, Alcobendas Madrid Spain

Swedish Paying Agent Skandinaviska Enskilda Banken AB Sergels Torg H1, SE-106 40 Stockholm Sweden

* BNP Paribas Securities Services, Paris, Succursale de Zurich, Selnaustrasse 16, 8002 Zurich has been authorised by the Swiss Financial Market Supervisory Authority (FINMA) as Swiss Paying and Representative Agent of Wells Fargo (Lux) Worldwide Fund. Wells Fargo (Lux) Worldwide Fund’s prospectus, key investor information documents, articles of incorporation, and annual and unaudited semi-annual reports, as well as the list of subscriptions and redemptions, are available at the office of the Swiss Paying and Representative Agent, free of charge.

Wells Fargo (Lux) Worldwide Fund | 163

General information (unaudited)

Current Prospectus The Fund’s most recent prospectus and KIIDs may be obtained upon request and free of charge from the Investment Adviser, the Administrator and the registered office of the Fund or under www.wellsfargoassetmanagement.com. Publication of Prices and Notices to Shareholders Notice of general meetings and notices to shareholders are given in accordance with Luxembourg law and regulations. The issue and redemption prices are available from the registered office on each dealing day. Purchases and Sales A detailed list of investments purchased and sold for each Sub-Fund during the financial year is available upon request, free of charge, from the registered office of the Fund. Reports and Articles of Incorporation of the Fund Copies of the articles of incorporation of the Fund, this unaudited semi-annual report and the latest annual report including audited financial statements may also be obtained free of charge from the registered office of the Fund.

164 | Wells Fargo (Lux) Worldwide Fund

Appendix I (unaudited)

Total expense ratios Total expense ratio (TER) is calculated by dividing the expenses, excluding the bank interest, dividend expense and accrued transaction costs, by the average net assets of each class of shares and is then annualised. The total expense ratios of hedged shares classes include additional custodial fees associated with administering the hedge programs and as a result reflect higher Gross TER and Waiver amounts than the non-hedged share classes. The ratios are annualised and in the process of the average net assets calculation, week-ends are included. The TER excludes the transaction costs disclosed in Note 12 in the Notes to financial statements.

The annualised TER of each Sub-Fund for the six months ended 30 September 2020 and the capped expense ratios as at 30 September 2020 are included below for each active share class.

Capped Gross TER Waiver Net TER Expense Ratio

Alternative Risk Premia Fund

Class I (CHF) Shares-acc. (hedged) 144.44% (143.74)% 0.70% 0.70% Class I (EUR) Shares-acc. (hedged) 147.56% (146.86)% 0.70% 0.70% Class I (GBP) Shares-acc. (hedged) 156.63% (155.93)% 0.70% 0.70% Class I (USD) Shares-acc. 1.45% (0.75)% 0.70% 0.70% China Equity Fund

Class A (SEK) Shares-acc. 3.13% (1.33)% 1.80% 1.80% Class A (USD) Shares-acc. 3.13% (1.33)% 1.80% 1.80% Class I (EUR) Shares-acc. 2.43% (1.28)% 1.15% 1.15% Class I (GBP) Shares-acc. 2.42% (1.27)% 1.15% 1.15% Class I (USD) Shares-acc. 2.42% (1.27)% 1.15% 1.15% Class Z (GBP) Shares-acc. 2.48% (1.33)% 1.15% 1.15% Emerging Markets Equity Fund

Class A (USD) Shares-acc. 2.09% 0.00% 2.09% 2.20% Class I (AUD) Shares-distr. 1.18% 0.00% 1.18% 1.45% Class I (CHF) Shares-acc. (hedged) 1.32% 0.00% 1.32% 1.45% Class I (EUR) Shares-acc. 1.31% 0.00% 1.31% 1.45% Class I (GBP) Shares-acc. 1.31% 0.00% 1.31% 1.45% Class I (USD) Shares-acc. 1.30% 0.00% 1.30% 1.45% Class Z (CHF) Shares-acc. (hedged) 1.37% 0.00% 1.37% 1.45% Class Z (EUR) Shares-acc. 1.32% 0.00% 1.32% 1.45% Class Z (GBP) Shares-acc. 1.32% 0.00% 1.32% 1.45% Class Z (USD) Shares-acc. 1.32% 0.00% 1.32% 1.45% Emerging Markets Equity Income Fund

Class A (USD) Shares-acc. 2.17% (0.02)% 2.15% 2.15% Class A (USD) Shares-gross distr. 2.19% (0.04)% 2.15% 2.15% Class I (AUD) Shares-distr. 1.39% 0.00% 1.39% 1.40% Class I (CHF) Shares-distr. (hedged) 1.40% 0.00% 1.40% 1.40% Class I (EUR) Shares-acc. 1.47% (0.07)% 1.40% 1.40% Class I (EUR) Shares-distr. 1.37% 0.00% 1.37% 1.40% Class I (GBP) Shares-distr. 1.37% 0.00% 1.37% 1.40% Class I (USD) Shares-acc. 1.37% 0.00% 1.37% 1.40% Class I (USD) Shares-gross distr. 1.36% 0.00% 1.36% 1.40%

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Appendix I (unaudited)

Total expense ratios (continued)

Capped Gross TER Waiver Net TER Expense Ratio

Emerging Markets Equity Income Fund (continued) Class X (GBP) Shares-acc. 1.16% (0.01)% 1.15% N/A* Class Y (EUR) Shares-gross distr. 0.99% 0.00% 0.99% N/A* Class Y (GBP) Shares-gross distr. 0.99% 0.00% 0.99% N/A* Class Y (USD) Shares-gross distr. 1.00% 0.00% 1.00% N/A* Class Z (CHF) Shares-distr. (hedged) 1.45% (0.05)% 1.40% 1.40% Class Z (EUR) Shares-distr. 1.41% (0.01)% 1.40% 1.40% Class Z (GBP) Shares-acc. 1.39% 0.00% 1.39% 1.40% Class Z (GBP) Shares-distr. 1.41% (0.01)% 1.40% 1.40% Class Z (USD) Shares-distr. 1.41% (0.01)% 1.40% 1.40% EUR Investment Grade Credit Fund Class A (EUR) Shares-distr. 1.03% (0.08)% 0.95% 0.95% Class I (CHF) Shares-acc. (hedged) 0.61% (0.16)% 0.45% 0.45% Class I (EUR) Shares-acc. 0.55% (0.10)% 0.45% 0.45% Class I (EUR) Shares-distr. 0.47% (0.02)% 0.45% 0.45% Class Z (EUR) Shares-distr. 0.52% (0.07)% 0.45% 0.45% EUR Short Duration Credit Fund Class A (EUR) Shares-acc. 0.82% 0.00% 0.82% 0.85% Class A (EUR) Shares-distr. 0.82% 0.00% 0.82% 0.85% Class I (EUR) Shares-acc. 0.35% 0.00% 0.35% 0.35% Class I (EUR) Shares-distr. 0.35% 0.00% 0.35% 0.35% Class I (GBP) Shares-acc. (hedged) 927.01% (926.66)% 0.35% 0.35% Class X (EUR) Shares-acc. 0.29% (0.09)% 0.20% N/A* Class X (EUR) Shares-distr. 0.29% (0.09)% 0.20% N/A* Class X (GBP) Shares-distr. (hedged) 110.21% (110.01)% 0.20% N/A* Class X (USD) Shares-acc. (hedged) 104.45% (104.25)% 0.20% N/A* Class X1 (EUR) Shares-acc. 0.39% (0.09)% 0.30% N/A* Class X1 (USD) Shares-acc. (hedged) 104.68% (104.38)% 0.30% N/A* Class Z (EUR) Shares-acc. 0.33% 0.00% 0.33% 0.35% Class Z (EUR) Shares-distr. 0.33% 0.00% 0.33% 0.35% Global Equity Fund Class A (USD) Shares-acc. 1.97% (0.09)% 1.88% 1.90% Class I (EUR) Shares-acc. (hedged) 1.19% (0.07)% 1.12% 1.15% Class I (USD) Shares-acc. 1.18% (0.05)% 1.13% 1.15% Class Z (GBP) Shares-acc. 1.23% (0.08)% 1.15% 1.15% Global Equity Enhanced Income Fund1 Class A (USD) Shares-distr. 1.95% (0.58)% 1.37% 1.40% Class I (USD) Shares-distr. 1.30% (0.63)% 0.67% 0.70% Class X (USD) Shares-gross distr. 1.03% (0.69)% 0.34% N/A* * The capped expense ratio is based on a separately negotiated agreements. 1 The Sub-Fund and each class commenced operations on 16 July 2020. Data for the TER calculation is based on information for the period from 16 July 2020 to 30 September 2020 and annualised.

166 | Wells Fargo (Lux) Worldwide Fund

Appendix I (unaudited)

Total expense ratios (continued)

Capped Gross TER Waiver Net TER Expense Ratio

Global Factor Enhanced Equity Fund Class A (USD) Shares-acc. 0.93% (0.53)% 0.40% 0.40% Class I (CHF) Shares-acc. (hedged) 0.85% (0.60)% 0.25% 0.25% Class I (EUR) Shares-acc. (hedged) 0.85% (0.60)% 0.25% 0.25% Class I (GBP) Shares-acc. 0.79% (0.54)% 0.25% 0.25% Class I (USD) Shares-acc. 0.84% (0.59)% 0.25% 0.25% Class Z (CHF) Shares-acc. (hedged) 0.90% (0.65)% 0.25% 0.25% Class Z (EUR) Shares-acc. (hedged) 0.89% (0.64)% 0.25% 0.25% Class Z (GBP) Shares-acc. 0.83% (0.58)% 0.25% 0.25% Class Z (USD) Shares-acc. 0.83% (0.58)% 0.25% 0.25% Global Investment Grade Credit Fund Class I (CHF) Shares-distr. (hedged) 120.47% (120.02)% 0.45% 0.45% Class I (EUR) Shares-distr. (hedged) 123.75% (123.30)% 0.45% 0.45% Class I (GBP) Shares-distr. (hedged) 1.35% (0.90)% 0.45% 0.45% Class I (USD) Shares-distr. 0.96% (0.51)% 0.45% 0.45% Class Z (CHF) Shares-distr. (hedged) 120.52% (120.07)% 0.45% 0.45% Class Z (EUR) Shares-distr. (hedged) 123.80% (123.35)% 0.45% 0.45% Class Z (GBP) Shares-distr. (hedged) 128.24% (127.79)% 0.45% 0.45% Class Z (USD) Shares-distr. 0.98% (0.53)% 0.45% 0.45% Global Long/Short Equity Fund Class AP (USD) Shares-acc. 1.89% (0.14)% 1.75% 1.75% Class IP (CHF) Shares-acc. (hedged) 1.11% (0.11)% 1.00% 1.00% Class IP (EUR) Shares-acc. (hedged) 1.22% (0.22)% 1.00% 1.00% Class IP (EUR) Shares-distr. 1.11% (0.11)% 1.00% 1.00% Class IP (GBP) Shares-acc. 1.11% (0.11)% 1.00% 1.00% Class IP (USD) Shares-acc. 1.11% (0.11)% 1.00% 1.00% Class ZP (CHF) Shares-acc. (hedged) 1.16% (0.16)% 1.00% 1.00% Class ZP (EUR) Shares-acc. (hedged) 1.29% (0.29)% 1.00% 1.00% Class ZP (GBP) Shares-acc. 1.10% (0.10)% 1.00% 1.00% Class ZP (USD) Shares-acc. 1.10% (0.10)% 1.00% 1.00% Global Low Volatility Equity Fund Class A (USD) Shares-acc. 3.86% (2.76)% 1.10% 1.10% Class I (CHF) Shares-acc. (hedged) 3.42% (2.77)% 0.65% 0.65% Class I (EUR) Shares-acc. 3.34% (2.69)% 0.65% 0.65% Class I (GBP) Shares-acc. 3.38% (2.73)% 0.65% 0.65% Class I (USD) Shares-acc. 3.36% (2.71)% 0.65% 0.65% Class Z (CHF) Shares-acc. (hedged) 3.46% (2.82)% 0.64% 0.65% Class Z (EUR) Shares-acc. (hedged) 3.46% (2.81)% 0.65% 0.65% Class Z (GBP) Shares-acc. 3.45% (2.80)% 0.65% 0.65% Class Z (USD) Shares-acc. 3.45% (2.80)% 0.65% 0.65%

Wells Fargo (Lux) Worldwide Fund | 167

Appendix I (unaudited)

Total expense ratios (continued)

Capped Gross TER Waiver Net TER Expense Ratio

Global Small Cap Equity Fund Class I (CHF) Shares-acc. (hedged) 140.35% (139.45)% 0.90% 0.95% Class I (EUR) Shares-acc. 7.42% (6.47)% 0.95% 0.95% Class I (GBP) Shares-acc. 7.42% (6.47)% 0.95% 0.95% Class I (USD) Shares-acc. 7.44% (6.49)% 0.95% 0.95% Small Cap Innovation Fund Class I (CHF) Shares-acc. (hedged) 122.72% (121.78)% 0.94% 0.95% Class I (EUR) Shares-acc. (hedged) 121.64% (120.69)% 0.95% 0.95% Class I (GBP) Shares-acc. 5.77% (4.82)% 0.95% 0.95% Class I (USD) Shares-acc. 5.79% (4.84)% 0.95% 0.95% Class Z (EUR) Shares-acc. (hedged) 121.69% (120.74)% 0.95% 0.95% Class Z (GBP) Shares-acc. 4.58% (3.63)% 0.95% 0.95% Class Z (USD) Shares-acc. 5.81% (4.86)% 0.95% 0.95% U.S. All Cap Growth Fund Class A (EUR) Shares-acc. (hedged) 2.66% (0.76)% 1.90% 1.90% Class A (GBP) Shares-acc. 1.73% 0.00% 1.73% 1.90% Class A (SGD) Shares-acc. (hedged) 1.77% 0.00% 1.77% 1.90% Class A (USD) Shares-acc. 1.73% 0.00% 1.73% 1.90% Class I (CHF) Shares-acc. (hedged) 0.92% 0.00% 0.92% 1.10% Class I (EUR) Shares-acc. 0.89% 0.00% 0.89% 1.10% Class I (EUR) Shares-acc. (hedged) 0.94% 0.00% 0.94% 1.10% Class I (GBP) Shares-acc. 0.89% 0.00% 0.89% 1.10% Class I (USD) Shares-acc. 0.89% 0.00% 0.89% 1.10% Class Z (EUR) Shares-acc. (hedged) 1.06% 0.01% 1.05% 1.10% Class Z (GBP) Shares-acc. 0.93% 0.00% 0.93% 1.10% Class Z (GBP) Shares-distr. 0.93% 0.00% 0.93% 1.10% Class Z (USD) Shares-acc. 0.94% 0.00% 0.94% 1.10% Class Z (USD) Shares-distr. 0.93% 0.00% 0.93% 1.10% U.S. High Yield Bond Fund Class A (USD) Shares-acc. 2.04% (0.29)% 1.75% 1.75% Class A (USD) Shares-gross distr. 2.06% (0.31)% 1.75% 1.75% Class I (CHF) Shares-distr. (hedged) 1.21% (0.26)% 0.95% 0.95% Class I (EUR) Shares-acc. 1.20% (0.25)% 0.95% 0.95% Class I (EUR) Shares-acc. (hedged) 110.15% (109.20)% 0.95% 0.95% Class I (EUR) Shares-distr. (hedged) 1.21% (0.26)% 0.95% 0.95% Class I (GBP) Shares-acc. (hedged) 9.36% (8.41)% 0.95% 0.95% Class I (GBP) Shares-distr. (hedged) 1.21% (0.26)% 0.95% 0.95% Class I (USD) Shares-acc. 1.19% (0.24)% 0.95% 0.95% Class I (USD) Shares-gross distr. 1.19% (0.24)% 0.95% 0.95% Class X (GBP) Shares-acc. 1.14% (0.29)% 0.85% N/A* Class Z (EUR) Shares-distr. (hedged) 1.26% (0.31)% 0.95% 0.95% * The capped expense ratio is based on a separately negotiated agreements.

168 | Wells Fargo (Lux) Worldwide Fund

Appendix I (unaudited)

Total expense ratios (continued)

Capped Gross TER Waiver Net TER Expense Ratio

U.S. High Yield Bond Fund (continued) Class Z (GBP) Shares-acc. 1.23% (0.28)% 0.95% 0.95% Class Z (GBP) Shares-distr. (hedged) 1.25% (0.30)% 0.95% 0.95% Class Z (USD) Shares-distr. 1.20% (0.25)% 0.95% 0.95% U.S. Large Cap Growth Fund Class A (USD) Shares-acc. 1.71% 0.00% 1.71% 1.80% Class I (EUR) Shares-acc. 0.87% 0.00% 0.87% 1.00% Class I (EUR) Shares-acc. (hedged) 0.88% 0.00% 0.88% 1.00% Class I (USD) Shares-acc. 0.87% 0.00% 0.87% 1.00% Class Z (GBP) Shares-acc. 0.96% 0.00% 0.96% 1.05% U.S. Select Equity Fund Class A (EUR) Shares-acc. 2.10% 0.00% 2.10% 2.20% Class A (USD) Shares-acc. 2.11% 0.00% 2.11% 2.20% Class I (EUR) Shares-acc. (hedged) 113.82% (112.50)% 1.32% 1.40% Class I (GBP) Shares-acc. 1.25% 0.00% 1.25% 1.40% Class I (USD) Shares-acc. 1.30% 0.00% 1.30% 1.40% Class X (USD) Shares-distr. 1.09% (0.03)% 1.06% N/A* Class Z (EUR) Shares-acc. (hedged) 1.34% (0.02)% 1.32% 1.40% Class Z (GBP) Shares-acc. 1.30% 0.00% 1.30% 1.40% U.S. Short-Term High Yield Bond Fund Class A (USD) Shares-acc. 1.50% 0.00% 1.50% 1.60% Class I (EUR) Shares-distr. (hedged) 1.08% (0.28)% 0.80% 0.80% Class I (GBP) Shares-distr. (hedged) 0.75% 0.00% 0.75% 0.80% Class I (USD) Shares-acc. 0.65% 0.00% 0.65% 0.80% Class I (USD) Shares-gross distr. 0.66% 0.00% 0.66% 0.80% Class X (GBP) Shares-acc. 0.58% 0.00% 0.58% N/A* Class Z (EUR) Shares-distr. (hedged) 0.79% 0.00% 0.79% 0.90% U.S. Small Cap Value Fund Class I (GBP) Shares-acc. 1.98% (1.03)% 0.95% 0.95% Class I (USD) Shares-acc. 1.97% (1.02)% 0.95% 0.95% Class X (GBP) Shares-acc. (hedged) 166.02% (165.32)% 0.70% N/A* Class Z (GBP) Shares-acc. (hedged) 116.59% (115.64)% 0.95% 0.95% Class Z (USD) Shares-acc. 2.00% (1.05)% 0.95% 0.95% USD Government Money Market Fund Class I (USD) Shares-distr. 0.29% (0.10)% 0.19% 0.20% Service Class (USD) Shares-distr. 0.55% (0.29)% 0.26% 0.45% USD Investment Grade Credit Fund Class A (USD) Shares-acc. 1.00% (0.05)% 0.95% 0.95% Class A (USD) Shares-distr. 0.94% 0.00% 0.94% 0.95% Class I (CHF) Shares-distr. (hedged) 0.44% 0.00% 0.44% 0.45% * The capped expense ratio is based on a separately negotiated agreements.

Wells Fargo (Lux) Worldwide Fund | 169

Appendix I (unaudited)

Total expense ratios (continued)

Capped Gross TER Waiver Net TER Expense Ratio

USD Investment Grade Credit Fund (continued) Class I (EUR) Shares-acc. (hedged)1 102.29% (101.84)% 0.45% 0.45% Class I (EUR) Shares-distr. (hedged) 0.51% (0.06)% 0.45% 0.45% Class I (GBP) Shares-distr. (hedged) 0.51% (0.06)% 0.45% 0.45% Class I (JPY) Shares-acc. (hedged) 0.59% (0.14)% 0.45% 0.45% Class I (SGD) Shares-acc. (hedged) 138.42% (137.97)% 0.45% 0.45% Class I (USD) Shares-acc. 0.45% 0.00% 0.45% 0.45% Class I (USD) Shares-distr. 0.45% 0.00% 0.45% 0.45% Class Y (EUR) Shares-gross distr. (hedged) 1.11% (0.71)% 0.40% N/A* Class Y (GBP) Shares-gross distr. (hedged) 2.54% (2.14)% 0.40% N/A* Class Y (USD) Shares-gross distr. 0.39% 0.00% 0.39% N/A* Class Z (EUR) Shares-distr. (hedged) 0.49% (0.04)% 0.45% 0.45% Class Z (GBP) Shares-distr. (hedged) 0.48% (0.03)% 0.45% 0.45% Class Z (USD) Shares-distr. 0.43% 0.00% 0.43% 0.45% 1 Class commenced operations on 31 August 2020. Data for the TER calculation is based on information for the period from 31 August 2020 to 30 September 2020 and annualised. * The capped expense ratio is based on a separately negotiated agreements.

170 | Wells Fargo (Lux) Worldwide Fund

Appendix II (unaudited)

Performance Past performance is no guarantee of future performance. The value of investments and the income from them can fall as well as rise and is not guaranteed. Income may fluctuate in accordance with market conditions and taxation arrangements. Investors may not get back the amount originally invested. The performance figures do not consider charges and fees that may be levied at the time of subscription or redemption of shares. Levels and bases of taxation may change from time to time. Subscriptions may be made only on the basis of the current prospectus, of which the most current unaudited interim report and accounts form an integral part, and key investor information documents of the Fund. Copies are available from the registered office of the Fund. Calculation methodology is based on industry standards. Returns for periods of less than one year are not annualised. All returns are as at 30 September 2020 unless otherwise noted.

Returns excluding sales charges 1 year Since (from Actual inception 1/1/2019 to inception 1 year 5 years 10 years date 31/12/2019)1 date

Alternative Risk Premia Fund Class I (CHF) Shares-acc. (hedged) - - - (16.18)% 2.43% 9/12/2019 Class I (EUR) Shares-acc. (hedged) - - - (16.01)% 2.42% 9/12/2019 Class I (GBP) Shares-acc. (hedged) - - - (15.68)% 2.33% 9/12/2019 Class I (USD) Shares-acc. - - - (14.94)% 2.25% 9/12/2019 China Equity Fund Class A (SEK) Shares-acc.2 22.06% 12.99% - 15.23% 23.00% 28/6/2013 Class A (USD) Shares-acc.2 34.16% 11.47% 6.98% 12.09% 16.39% 30/1/2009 Class I (EUR) Shares-acc.2 25.54% 11.15% 9.41% 13.81% 19.66% 30/1/2009 Class I (GBP) Shares-acc.2 28.67% 15.85% 10.01% 12.75% 12.73% 2/4/2009 Class I (USD) Shares-acc.2 35.04% 12.32% 7.79% 12.94% 16.78% 30/1/2009 Class Z (GBP) Shares-acc.2 28.67% 15.85% - 13.96% 12.73% 31/10/2012 Emerging Markets Equity Fund Class A (USD) Shares-acc. 13.03% 10.42% - 1.86% 26.33% 15/12/2010 Class I (AUD) Shares-distr. 7.41% 11.73% - 9.24% 27.84% 30/9/2011 Class I (CHF) Shares-acc. (hedged) - - - 6.39% - 26/2/2020 Class I (EUR) Shares-acc. 5.91% 10.22% - 3.99% 30.06% 15/12/2010 Class I (GBP) Shares-acc. 8.56% 14.88% - 4.73% 22.52% 15/12/2010 Class I (USD) Shares-acc. 13.92% 11.30% - 2.66% 27.32% 15/12/2010 Class Z (CHF) Shares-acc. (hedged) - - - 6.37% - 26/2/2020 Class Z (EUR) Shares-acc. - - - 0.28% - 26/2/2020 Class Z (GBP) Shares-acc. - - - 8.03% - 26/2/2020 Class Z (USD) Shares-acc. - - - 8.02% - 26/2/2020 Emerging Markets Equity Income Fund Class A (USD) Shares-acc. (1.97)% 3.95% - 2.26% 16.13% 29/6/2012 Class A (USD) Shares-gross distr. (1.98)% - - 5.03% 16.12% 29/2/2016 Class I (AUD) Shares-distr. (6.98)% 4.34% - 5.50% 17.44% 2/6/2014 Class I (CHF) Shares-distr. (hedged) - - - (4.91)% - 24/2/2020 1 If a class is less than 1 year old as of 31 December 2019, then inception date through 31 December 2019 return is shown. 2 The total return presented is calculated based on the NAV at which the shareholder transactions were processed. The NAV reported within the financial statements in Statistics reflects certain adjustments made to the net assets of the Fund in accordance with Luxembourg legal and regulatory requirements relating to the preparation and presentation of the financial statements.

Wells Fargo (Lux) Worldwide Fund | 171

Appendix II (unaudited)

Performance (continued)

Returns excluding sales charges 1 year Since (from Actual inception 1/1/2019 to inception 1 year 5 years 10 years date 31/12/2019)1 date

Emerging Markets Equity Income Fund (continued) Class I (EUR) Shares-acc. (8.16)% 3.76% - 4.02% 19.57% 29/6/2012 Class I (EUR) Shares-distr. - - - (10.60)% - 24/2/2020 Class I (GBP) Shares-distr. - - - (3.24)% - 24/2/2020 Class I (USD) Shares-acc. (1.21)% 4.77% - 3.06% 17.05% 29/6/2012 Class I (USD) Shares-gross distr. (1.18)% - - 5.93% - 29/2/2016 Class X (GBP) Shares-acc. (5.65)% - - (1.62)% 12.90% 16/5/2018 Class Y (EUR) Shares-gross distr. (7.79)% - - (3.01)% 20.05% 16/5/2018 Class Y (GBP) Shares-gross distr. (5.49)% 8.46% - 4.56% 13.05% 29/5/2015 Class Y (USD) Shares-gross distr. (0.79)% - - (3.26)% 17.56% 16/5/2018 Class Z (CHF) Shares-distr. (hedged) - - - (4.93)% - 24/2/2020 Class Z (EUR) Shares-distr. - - - (10.62)% - 24/2/2020 Class Z (GBP) Shares-acc. (5.88)% 8.15% - 5.09% 12.61% 31/10/2012 Class Z (GBP) Shares-distr. - - - (3.25)% - 24/2/2020 Class Z (USD) Shares-distr. - - - (3.43)% - 24/2/2020 EUR Investment Grade Credit Fund Class A (EUR) Shares-distr.2 - - - (0.57)% - 24/2/2020 Class I (CHF) Shares-acc. (hedged)2 0.39% - - 1.85% 6.63% 19/6/2017 Class I (EUR) Shares-acc.2 0.77% - - 2.33% 7.12% 19/6/2017 Class I (EUR) Shares-distr.2 1.31% - - 2.49% 7.12% 19/6/2017 Class Z (EUR) Shares-distr. - - - (0.27)% - 24/2/2020 EUR Short Duration Credit Fund Class A (EUR) Shares-acc. - - - (0.82)% - 26/2/2020 Class A (EUR) Shares-distr. - - - (0.82)% - 26/2/2020 Class I (EUR) Shares-acc. (0.25)% 1.53% - 2.58% 3.55% 4/11/2011 Class I (EUR) Shares-distr. (0.25)% 1.51% - 1.62% 3.58% 20/11/2013 Class I (GBP) Shares-acc. (hedged) 0.53% 2.36% - 2.54% 4.78% 31/12/2012 Class X (EUR) Shares-acc. (0.10)% - - 1.11% 1.83% 29/3/2019 Class X (EUR) Shares-distr. - - - (0.06)% 0.08% 6/12/2019 Class X (GBP) Shares-distr. (hedged) 0.69% - - 2.02% 2.73% 29/3/2019 Class X (USD) Shares-acc. (hedged) 1.81% - - 3.42% 4.10% 29/3/2019 Class X1 (EUR) Shares-acc. (0.20)% - - 1.01% 1.75% 29/3/2019 Class X1 (USD) Shares-acc. (hedged) 1.70% - - 3.32% 4.02% 29/3/2019 Class Z (EUR) Shares-acc. - - - (0.53)% - 26/2/2020 Class Z (EUR) Shares-distr. - - - (0.53)% - 26/2/2020 1 If a class is less than 1 year old as of 31 December 2019, then inception date through 31 December 2019 return is shown. 2 The total return presented is calculated based on the NAV at which the shareholder transactions were processed. The NAV reported within the financial statements in Statistics reflects certain adjustments made to the net assets of the Fund in accordance with Luxembourg legal and regulatory requirements relating to the preparation and presentation of the financial statements.

172 | Wells Fargo (Lux) Worldwide Fund

Appendix II (unaudited)

Performance (continued)

Returns excluding sales charges 1 year Since (from Actual inception 1/1/2019 to inception 1 year 5 years 10 years date 31/12/2019)1 date

Global Equity Fund3 Class A (USD) Shares-acc. (2.12)% 7.42% 7.07% 7.58% 24.10% 1/4/2008 Class I (EUR) Shares-acc. (hedged) - - - (5.13)% - 24/2/2020 Class I (USD) Shares-acc. (1.40)% 8.26% 7.90% 8.41% 25.09% 1/4/2008 Class Z (GBP) Shares-acc. (6.07)% 11.72% - 10.80% 20.31% 31/10/2012 Global Equity Enhanced Income Fund Class A (USD) Shares-distr.2 - - - 1.42% - 16/7/2020 Class I (USD) Shares-distr.2 - - - 1.57% - 16/7/2020 Class X (USD) Shares-gross distr.2 - - - 1.64% - 16/7/2020 Global Factor Enhanced Equity Fund Class A (USD) Shares-acc.2 - - - 4.13% - 26/2/2020 Class I (CHF) Shares-acc. (hedged)2 - - - 2.62% - 26/2/2020 Class I (EUR) Shares-acc. (hedged)2 - - - 2.62% - 26/2/2020 Class I (GBP) Shares-acc.2 - - - 4.13% - 26/2/2020 Class I (USD) Shares-acc. 2 5.50% - - 4.59% 9.23% 15/3/2019 Class Z (CHF) Shares-acc. (hedged)2 - - - 2.62% - 26/2/2020 Class Z (EUR) Shares-acc. (hedged)2 - - - 2.62% - 26/2/2020 Class Z (GBP) Shares-acc.2 - - - 4.13% - 26/2/2020 Class Z (USD) Shares-acc.2 - - - 4.22% - 26/2/2020 Global Investment Grade Credit Fund Class I (CHF) Shares-distr. (hedged) - - - 3.80% 0.46% 8/11/2019 Class I (EUR) Shares-distr. (hedged) - - - 4.04% 0.51% 8/11/2019 Class I (GBP) Shares-distr. (hedged) - - - 4.59% 0.68% 8/11/2019 Class I (USD) Shares-distr. - - - 5.99% 0.90% 8/11/2019 Class Z (CHF) Shares-distr. (hedged) - - - 3.80% 0.46% 8/11/2019 Class Z (EUR) Shares-distr. (hedged) - - - 4.04% 0.51% 8/11/2019 Class Z (GBP) Shares-distr. (hedged) - - - 4.58% 0.68% 8/11/2019 Class Z (USD) Shares-distr. - - - 5.98% 0.90% 8/11/2019 1 If a class is less than 1 year old as of 31 December 2019, then inception date through 31 December 2019 return is shown. 2 The total return presented is calculated based on the NAV at which the shareholder transactions were processed. The NAV reported within the financial statements in Statistics reflects certain adjustments made to the net assets of the Fund in accordance with Luxembourg legal and regulatory requirements relating to the preparation and presentation of the financial statements. 3 Global Equity Fund was renamed and repositioned on 17 May 2010. Performance figures, excluding sales charges, include the performance of the Sub- Fund prior to its repositioning. The performance of each share class prior to and after the repositioning is as follows:

Returns excluding sales charges Inception through 17/5/2010 through 16/5/2010 30/9/2020

Class A (USD) Shares-acc. (12.75)% 7.58% Class I (USD) Shares-acc. (12.09)% 8.41%

Wells Fargo (Lux) Worldwide Fund | 173

Appendix II (unaudited)

Performance (continued)

Returns excluding sales charges 1 year Since (from Actual inception 1/1/2019 to inception 1 year 5 years 10 years date 31/12/2019)1 date

Global Long/Short Equity Fund Class AP (USD) Shares-acc.2 6.20% - - 0.59% 7.08% 20/10/2017 Class IP (CHF) Shares-acc. (hedged)2 - - - 9.19% - 28/2/2020 Class IP (EUR) Shares-acc. (hedged)2 4.64% - - (3.02)% 4.69% 31/1/2018 Class IP (EUR) Shares-distr.2 (0.54)% - - 3.12% 10.21% 31/7/2017 Class IP (GBP) Shares-acc.2 1.95% - - 2.55% 4.17% 31/8/2017 Class IP (USD) Shares-acc.2 6.98% - - 2.77% 7.89% 31/7/2017 Class ZP (CHF) Shares-acc. (hedged)2 - - - 9.19% - 28/2/2020 Class ZP (EUR) Shares-acc. (hedged)2 - - - 8.91% - 28/2/2020 Class ZP (GBP) Shares-acc.2 - - - 9.79% - 28/2/2020 Class ZP (USD) Shares-acc.2 - - - 10.50% - 28/2/2020 Global Low Volatility Equity Fund Class A (USD) Shares-acc.2 - - - 0.97% - 28/2/2020 Class I (CHF) Shares-acc. (hedged)2 - - - (0.24)% - 28/2/2020 Class I (EUR) Shares-acc.2 (10.86)% - - 0.52% 19.11% 28/4/2017 Class I (GBP) Shares-acc.2 (8.52)% 8.89% - 6.73% 12.42% 1/3/2013 Class I (USD) Shares-acc.2 (4.04)% 5.48% - 5.14% 16.86% 14/1/2013 Class Z (CHF) Shares-acc. (hedged)2 - - - (0.24)% - 28/2/2020 Class Z (EUR) Shares-acc. (hedged)2 - - - (0.10)% - 28/2/2020 Class Z (GBP) Shares-acc.2 - - - 0.01% - 28/2/2020 Class Z (USD) Shares-acc.2 - - - 1.23% - 28/2/2020 Global Small Cap Equity Fund Class I (CHF) Shares-acc. (hedged) - - - (8.50)% - 20/2/2020 Class I (EUR) Shares-acc. - - - (14.59)% - 20/2/2020 Class I (GBP) Shares-acc. - - - (7.34)% - 20/2/2020 Class I (USD) Shares-acc. - - - (7.18)% - 20/2/2020 Small Cap Innovation Fund Class I (CHF) Shares-acc. (hedged) - - - 15.26% - 20/2/2020 Class I (EUR) Shares-acc. (hedged) - - - 15.02% - 20/2/2020 Class I (GBP) Shares-acc. - - - 16.95% - 20/2/2020 Class I (USD) Shares-acc. - - - 17.15% - 20/2/2020 Class Z (EUR) Shares-acc. (hedged) - - - 15.02% - 20/2/2020 Class Z (GBP) Shares-acc. - - - 16.94% - 20/2/2020 Class Z (USD) Shares-acc. - - - 17.15% - 20/2/2020 U.S. All Cap Growth Fund Class A (EUR) Shares-acc. (hedged) 31.85% - - 23.41% 32.07% 16/11/2018 Class A (GBP) Shares-acc. 29.00% 22.61% 18.49% 20.01% 31.14% 2/4/2009 1 If a class is less than 1 year old as of 31 December 2019, then inception date through 31 December 2019 return is shown. 2 The total return presented is calculated based on the NAV at which the shareholder transactions were processed. The NAV reported within the financial statements in Statistics reflects certain adjustments made to the net assets of the Fund in accordance with Luxembourg legal and regulatory requirements relating to the preparation and presentation of the financial statements.

174 | Wells Fargo (Lux) Worldwide Fund

Appendix II (unaudited)

Performance (continued)

Returns excluding sales charges 1 year Since (from Actual inception 1/1/2019 to inception 1 year 5 years 10 years date 31/12/2019)1 date

U.S. All Cap Growth Fund (continued) Class A (SGD) Shares-acc. (hedged) - - - 28.54% - 28/2/2020 Class A (USD) Shares-acc. 35.38% 18.77% 16.05% 12.86% 36.28% 2/5/2008 Class I (CHF) Shares-acc. (hedged) 34.58% 18.52% - 15.32% 37.42% 20/2/2020 Class I (EUR) Shares-acc. 26.92% 18.62% 18.83% 16.37% 40.37% 2/5/2008 Class I (EUR) Shares-acc. (hedged) - - - 25.79% 1.85% 6/12/2019 Class I (GBP) Shares-acc. 30.09% 23.64% 19.49% 21.01% 32.25% 2/4/2009 Class I (USD) Shares-acc. 36.52% 19.77% 17.02% 13.80% 37.42% 2/5/2008 Class Z (EUR) Shares-acc. (hedged) 32.97% - - 15.72% 32.68% 31/1/2018 Class Z (GBP) Shares-acc. 30.03% 23.60% - 19.92% 32.21% 31/10/2012 Class Z (GBP) Shares-distr. 30.04% 23.60% - 19.07% 32.23% 13/1/2014 Class Z (USD) Shares-acc. 36.46% 19.72% - 16.57% 37.37% 31/10/2012 Class Z (USD) Shares-distr. 36.47% 19.68% - 16.39% 37.37% 29/5/2015 U.S. High Yield Bond Fund Class A (USD) Shares-acc. (0.49)% 4.66% 4.68% 5.46% 12.04% 1/4/2008 Class A (USD) Shares-gross distr. (0.50)% - - 5.90% 12.01% 29/2/2016 Class I (CHF) Shares-distr. (hedged) - - - (1.56)% - 28/2/2020 Class I (EUR) Shares-acc. (6.73)% 4.57% 7.20% 8.82% 15.39% 1/4/2008 Class I (EUR) Shares-acc. (hedged) (1.80)% - - 3.08% 9.53% 29/4/2016 Class I (EUR) Shares-distr. (hedged) - - - (1.43)% - 28/2/2020 Class I (GBP) Shares-acc. (hedged) - - - (1.41)% 1.76% 31/10/2019 Class I (GBP) Shares-distr. (hedged) - - - (1.23)% - 28/2/2020 Class I (USD) Shares-acc. 0.33% 5.54% 5.55% 6.33% 12.99% 1/4/2008 Class I (USD) Shares-gross distr. 0.53% - - 6.81% 12.96% 29/2/2016 Class X (GBP) Shares-acc. (4.30)% - - 5.53% 8.82% 16/5/2018 Class Z (EUR) Shares-distr. (hedged) - - - (1.43)% - 28/2/2020 Class Z (GBP) Shares-acc. (4.42)% 8.91% - 7.71% 8.67% 31/10/2012 Class Z (GBP) Shares-distr. (hedged) - - - (1.23)% - 28/2/2020 Class Z (USD) Shares-distr. - - - (0.35)% - 28/2/2020 U.S. Large Cap Growth Fund Class A (USD) Shares-acc. 30.69% 19.09% 15.28% 10.37% 36.91% 1/4/2008 Class I (EUR) Shares-acc. 22.52% 18.94% 18.09% 13.91% 41.02% 1/4/2008 Class I (EUR) Shares-acc. (hedged) - - - 17.86% - 26/2/2020 Class I (USD) Shares-acc. 31.79% 20.09% 16.30% 11.32% 38.06% 1/4/2008 Class Z (GBP) Shares-acc. 25.47% 23.87% - 21.27% 32.73% 31/10/2012 U.S. Select Equity Fund Class A (EUR) Shares-acc. (12.29)% 2.25% - 0.88% 22.43% 30/1/2015 Class A (USD) Shares-acc. (5.44)% 3.29% - 1.58% 19.88% 30/1/2015 Class I (EUR) Shares-acc. (hedged) (7.70)% 1.67% - 0.25% 17.04% 30/1/2015 1 If a class is less than 1 year old as of 31 December 2019, then inception date through 31 December 2019 return is shown.

Wells Fargo (Lux) Worldwide Fund | 175

Appendix II (unaudited)

Performance (continued)

Returns excluding sales charges 1 year Since (from Actual inception 1/1/2019 to inception 1 year 5 years 10 years date 31/12/2019)1 date

U.S. Select Equity Fund (continued) Class I (GBP) Shares-acc. - - - (2.22)% - 26/2/2020 Class I (USD) Shares-acc. (4.88)% 4.11% - 2.39% 20.87% 30/1/2015 Class X (USD) Shares-distr. (4.67)% 4.35% - 2.66% 21.18% 30/1/2015 Class Z (EUR) Shares-acc. (hedged) - - - (4.14)% - 26/2/2020 Class Z (GBP) Shares-acc. - - - (2.24)% - 26/2/2020 U.S. Short-Term High Yield Bond Fund Class A (USD) Shares-acc. 2.78% 2.59% - 2.22% 5.72% 29/6/2012 Class I (EUR) Shares-distr. (hedged) 0.84% 1.08% - 1.34% 3.21% 31/7/2013 Class I (GBP) Shares-distr. (hedged) 2.15% 2.14% - 2.13% 4.53% 31/7/2013 Class I (USD) Shares-acc. 3.64% 3.45% - 3.07% 6.59% 29/6/2012 Class I (USD) Shares-gross distr. 3.64% - - 3.56% 6.54% 29/2/2016 Class X (GBP) Shares-acc. (1.16)% - - 6.19% 2.60% 16/5/2018 Class Z (EUR) Shares-distr. (hedged) - - - 1.81% - 28/2/2020 U.S. Small Cap Value Fund Class I (GBP) Shares-acc.2 (19.33)% - - (5.27)% 16.84% 26/4/2017 Class I (USD) Shares-acc.2 (15.38)% - - 1.85% 21.42% 30/6/2016 Class X (GBP) Shares-acc. (hedged) (17.96)% - - (11.99)% 19.62% 11/10/2018 Class Z (GBP) Shares-acc. (hedged)2 (18.23)% - - (0.19)% 19.09% 30/6/2016 Class Z (USD) Shares-acc.2 (15.10)% - - 1.92% 21.37% 30/6/2016 USD Government Money Market Fund3 Class I (USD) Shares-distr. 0.73% 1.09% - 0.60% 1.98% 20/6/2011 Service Class (USD) Shares-distr. 0.56% 0.87% - 0.47% 1.73% 20/6/2011 USD Investment Grade Credit Fund Class A (USD) Shares-acc.2 8.46% - - 6.76% 14.63% 15/12/2016 Class A (USD) Shares-distr.2 - - - 3.51% - 24/2/2020 Class I (CHF) Shares-distr. (hedged)2 - - - 2.43% - 24/2/2020 Class I (EUR) Shares-acc. (hedged) - - - (0.36)% - 31/8/2020 Class I (EUR) Shares-distr. (hedged)2 6.51% - - 4.61% 11.78% 15/12/2016 1 If a class is less than 1 year old as of 31 December 2019, then inception date through 31 December 2019 return is shown. 2 The total return presented is calculated based on the NAV at which the shareholder transactions were processed. The NAV reported within the financial statements in Statistics reflects certain adjustments made to the net assets of the Fund in accordance with Luxembourg legal and regulatory requirements relating to the preparation and presentation of the financial statements. 3 USD Government Money Market Fund was renamed and repositioned on 21 March 2019. Performance figures, excluding sales charges, include the performance of the Sub-Fund prior to its repositioning. The performance of each share class prior to and after the repositioning is as follows:

Returns excluding sales charges Inception through 21/3/2019 through 20/3/2019 30/9/2020

Class I (USD) Shares-distr. 0.48% 1.19% Service Class (USD) Shares-distr. 0.37% 1.00%

176 | Wells Fargo (Lux) Worldwide Fund

Appendix II (unaudited)

Performance (continued)

Returns excluding sales charges 1 year Since (from Actual inception 1/1/2019 to inception 1 year 5 years 10 years date 31/12/2019)1 date

USD Investment Grade Credit Fund (continued)

2 Class I (GBP) Shares-distr.- (hedged)- - 2.76% - 24/2/2020 Class I (JPY) Shares-acc. (hedged) 6.63% - - 10.09% 10.84% 22/1/2019 Class I (SGD) Shares-acc. (hedged) 8.37% - - 8.68% 2.72% 2/8/2019 2 Class I (USD) Shares-acc.9.01% - - 7.30% 15.20% 15/12/2016 2 Class I (USD) Shares-distr.9.02% - - 7.30% 15.20% 15/12/2016 2 Class 6.59%Y (EUR) Shares-gross- distr. (hedged)- 4.31% 11.85% 18/12/2017 Class Y (GBP) Shares-gross distr. (hedged) 7.37% - - 5.27% 12.83% 18/12/2017 2 Class Y (USD) Shares-gross9.07% distr.- - 6.81% 15.25% 24/8/2017 2 Class Z (EUR) Shares-distr.- (hedged)- - 2.54% - 24/2/2020 2 Class Z (GBP) Shares-distr.- (hedged)- - 2.77% - 24/2/2020 2 Class Z (USD) Shares-distr.- - - 3.82% - 24/2/2020 1 If a class is less than 1 year old as of 31 December 2019, then inception date through 31 December 2019 return is shown. 2 The total return presented is calculated based on the NAV at which the shareholder transactions were processed. The NAV reported within the financial statements in Statistics reflects certain adjustments made to the net assets of the Fund in accordance with Luxembourg legal and regulatory requirements relating to the preparation and presentation of the financial statements.

USD Government Money Market Fund

Class I (USD) Service Class (USD) (As at 30 September 2020) Shares-distr. Shares-distr.

7-day current yield1 0.01% 0.01% 7-day compound yield 0.01% 0.01% 30-day simple yield 0.01% 0.01% 30-day compound yield 0.01% 0.01% 1 Without waived fees and/or reimbursed expenses, the Sub-Fund’s 7-day current yield would have been (0.08)% and (0.08)% for Class I (USD) Shares-distr. and Service Class (USD) Shares-distr., respectively.

Wells Fargo (Lux) Worldwide Fund | 177

Appendix III (unaudited)

Revised 31 March 2020 VaR utilisation information The VaR utilisation information for applicable Sub-Funds presented in unaudited Appendix III Risk management section of the 31 March 2020 annual report of the Fund contained incorrect calculations. The corrected VaR utilisation information as of 31 March 2020 is as follows:

Lowest Highest Average Utilisation Utilisation Utilisation

Alternative Risk Premia Fund 2.29% 3.67% 3.06% EUR Short Duration Credit Fund 0.62% 3.21% 1.25% Global Equity Absolute Return Fund 1.90% 4.92% 3.17% Global Long/Short Equity Fund 3.19% 8.23% 3.97%

178 | Wells Fargo (Lux) Worldwide Fund

Appendix IV (unaudited)

Securities financing transactions Regulation (EU) 2015/2365 of the European Parliament and the Council of 25 November 2015 on transparency of securities financing transactions and of reuse (“SFTR”) introduced reporting requirements for securities financing transactions (“SFTs”), total return swaps and any financial instruments received as collateral and that are intended to be reused.

SFTs as defined as per Article 3(11) of the SFTR include:

▪ repurchase/reverse repurchase agreements, ▪ securities or commodities lending and securities or commodities borrowing, ▪ buy-sell back transactions or sell-buy back transactions and ▪ margin lending transactions As at 30 September 2020, Alternative Risk Premia Fund and Global Long/Short Equity Fund held contracts for difference, Alternative Risk Premia Fund held total return swap and USD Government Money Market Fund held reverse repurchase agreements, which are under the scope of the SFTR. Global data The amount of assets across all SFTs as at 30 September 2020 is as follows:

Description

Net unrealised appreciation/(depreciation) USD % of net assets

Contracts for difference Alternative Risk Premia Fund 27,324 0.08% Global Long/Short Equity Fund 4,910 0.00% Total return swap Alternative Risk Premia Fund 108,059 0.32% Market value (USD)

Reverse repurchase agreements USD Government Money Market Fund 300,000,000 30.79%

Concentration data Securities that are pledged as collateral are disclosed in the Portfolio of investments of the respective Sub-Funds. As at 30 September 2020, the aggregate value of these securities, notated with a “+” in its description on the Portfolio of investments of the respective Sub-Funds, amounted to USD 385,797,027.

The issuers for collateral securities received/pledged as at 30 September 2020, are as follows:

Collateral issuer Amount of collateral USD

Alternative Risk Premia Fund United States Government Securities 3,369,223 USD Government Money Market Fund United States Government Securities 306,000,383

Wells Fargo (Lux) Worldwide Fund | 179

Appendix IV (unaudited)

Securities financing transactions (continued) The counterparties as at 30 September 2020 are as follows:

Counterparty Market value USD

Alternative Risk Premia Fund Goldman Sachs International 27,324 Global Long/Short Equity Fund Goldman Sachs International 4,910 USD Government Money Market Fund Bank of America Securities 61,200,017 Bank of Montreal 40,800,022 Barclays Bank PLC 40,800,084 Canadian Imperial Bank 40,800,087 Citigroup Global Markets 40,800,079 Credit Agricole 40,800,086 Morgan Stanley & Company 40,800,008

Safekeeping of collateral received As at 30 September 2020, collateral received is as follow:

Depositary Amount of collateral USD

USD Government Money Market Fund Bank of New York Mellon Security collateral 306,000,383

Safekeeping of collateral pledged As at 30 September 2020, collateral pledged is as follow:

Depositary Amount of collateral USD

Alternative Risk Premia Fund Brown Brothers Harriman (Luxembourg) S.C.A. United States Government Securities 3,369,223 Global Long/Short Equity Fund Brown Brothers Harriman (Luxembourg) S.C.A. Common Stock 76,427,421

Data on reuse of collateral There were no collateral securities reused during the six months ended 30 September 2020.

Returns Returns of reverse repurchase agreement for the six months ended 30 September 2020 are as follows:

Returns Amount USD % of overall returns

USD Government Money Market Fund 79,811 100.00

The returns for the contracts for difference in Alternative Risk Premia Fund and Global Long/Short Equity Fund are identified as the net realised profit/(loss) on contracts for difference and the net change in unrealised appreciation/ (depreciation) on contracts for difference during the reporting period. The transaction costs are not separately identifiable.

180 | Wells Fargo (Lux) Worldwide Fund

Appendix IV (unaudited)

Securities financing transactions (continued) Aggregate transaction data The aggregate transaction data for collateral positions as at 30 September 2020 is as follows:

Type of Amount of Quality of Maturity of Country of Settlement Counterparty collateral collateral Currency collateral collateral counterparty and clearing

Alternative Risk Premia Fund Goldman Sachs International U.S. Treasury Securities 3,369,223 USD N/A N/A United States Bilateral Global Long/Short Equity Fund Goldman Sachs International Common Stock 76,427,421 USD N/A N/A United States Bilateral USD Government Money Market Fund Bank of America Securities U.S. Treasury Securities 47,999,770 USD Aaa Above one year United States Triparty Bank of America Securities U.S. Treasury Securities 13,200,247 USD Aaa Below one year United States Triparty Bank of Montreal U.S. Treasury Securities 28,281,516 USD Aaa Above one year United States Triparty Bank of Montreal U.S. Treasury Securities 3,041 USD Aaa One year United States Triparty Bank of Montreal U.S. Treasury Securities 12,515,465 USD Aaa Below one year United States Triparty Barclays Bank PLC U.S. Treasury Securities 34,400,103 USD Aaa Above one year United States Triparty Barclays Bank PLC U.S. Treasury Securities 6,399,981 USD Aaa Below one year United States Triparty Canadian Imperial Bank U.S. Treasury Securities 40,800,087 USD Aaa Above one year United States Triparty Citigroup Global Markets U.S. Treasury Securities 40,800,079 USD Aaa Above one year United States Triparty Credit Agricole U.S. Treasury Securities 40,800,086 USD Aaa Above one year United States Triparty Morgan Stanley & Company U.S. Treasury Securities 29,716,546 USD Aaa Above one year United States Triparty Morgan Stanley & Company U.S. Treasury Securities 11,083,462 USD Aaa Below one year United States Triparty

USD Government Money Market Fund’s reverse repurchase agreements held as at 30 September 2020 mature within one day.

Wells Fargo (Lux) Worldwide Fund | 181

More information about the Wells Fargo (Lux) Worldwide Fund is available free upon request at its registered office.