Key information The S&P 500 Index CIT F, N, N5, N20, and AT unit classes As an index fund, the Fund s decisions to Wells Fargo/Black Rock S&P 500 2 Brown Advisory Strategic Bond Fund Class/Ticker: Institutional Shares / (Not solely in the BlackRock Russell 2000 Index Fund managed by BlackRock Institutional  Fund Summary. The investment seeks to track the investment results of the Russell 2000® Index, which measures the performance of the small- capitalization  WELLS FARGO ADVANTAGE GLOBAL DIVIDEND OPPORTUNITY FUND Wells Fargo Commercial Mortgage Trust 2016-C32, 0001663240, NORTH CAROLINA Employee Benefit Trusts - Wells Fargo/BlackRock Large Cap Value Index CIT for Employee Benefit Trusts - Wells Fargo/BlackRock Russell 2000 Index CIT.

Invests in a portfolio of assets whose performance seeks to match the performance of the Russell 2000® Index. Collective Fund fact sheet wellsfargofunds.com/collective. Wells Fargo/ BlackRock S&P 500 Index CIT. Class. CUSIP. Ticker. Sector allocation (%). N. N5 . Key information The S&P 500 Index CIT F, N, N5, N20, and AT unit classes As an index fund, the Fund s decisions to Wells Fargo/Black Rock S&P 500 2 Brown Advisory Strategic Bond Fund Class/Ticker: Institutional Shares / (Not solely in the BlackRock Russell 2000 Index Fund managed by BlackRock Institutional  Fund Summary. The investment seeks to track the investment results of the Russell 2000® Index, which measures the performance of the small- capitalization  WELLS FARGO ADVANTAGE GLOBAL DIVIDEND OPPORTUNITY FUND Wells Fargo Commercial Mortgage Trust 2016-C32, 0001663240, NORTH CAROLINA Employee Benefit Trusts - Wells Fargo/BlackRock Large Cap Value Index CIT for Employee Benefit Trusts - Wells Fargo/BlackRock Russell 2000 Index CIT.

Fund Summary. The investment seeks to track the investment results of the Russell 2000® Index, which measures the performance of the small- capitalization 

Collective Fund fact sheet wellsfargofunds.com/collective. Wells Fargo/ BlackRock S&P 500 Index CIT. Class. CUSIP. Ticker. Sector allocation (%). N. N5 . Key information The S&P 500 Index CIT F, N, N5, N20, and AT unit classes As an index fund, the Fund s decisions to Wells Fargo/Black Rock S&P 500 2 Brown Advisory Strategic Bond Fund Class/Ticker: Institutional Shares / (Not solely in the BlackRock Russell 2000 Index Fund managed by BlackRock Institutional  Fund Summary. The investment seeks to track the investment results of the Russell 2000® Index, which measures the performance of the small- capitalization  WELLS FARGO ADVANTAGE GLOBAL DIVIDEND OPPORTUNITY FUND Wells Fargo Commercial Mortgage Trust 2016-C32, 0001663240, NORTH CAROLINA Employee Benefit Trusts - Wells Fargo/BlackRock Large Cap Value Index CIT for Employee Benefit Trusts - Wells Fargo/BlackRock Russell 2000 Index CIT.

Wells Fargo/Multi-Manager Sm Cap CIT F. Wells Fargo/BlackRock Russell 2000 Index Fund N. International Stock. Oakmark International I. Target Date Funds.

Invests in a portfolio of assets whose performance seeks to match the performance of the Russell 2000® Index. Collective Fund fact sheet wellsfargofunds.com/collective. Wells Fargo/ BlackRock S&P 500 Index CIT. Class. CUSIP. Ticker. Sector allocation (%). N. N5 . Key information The S&P 500 Index CIT F, N, N5, N20, and AT unit classes As an index fund, the Fund s decisions to Wells Fargo/Black Rock S&P 500 2 Brown Advisory Strategic Bond Fund Class/Ticker: Institutional Shares / (Not solely in the BlackRock Russell 2000 Index Fund managed by BlackRock Institutional  Fund Summary. The investment seeks to track the investment results of the Russell 2000® Index, which measures the performance of the small- capitalization 

Wells Fargo/Multi-Manager Sm Cap CIT F. Wells Fargo/BlackRock Russell 2000 Index Fund N. International Stock. Oakmark International I. Target Date Funds.

Key information The S&P 500 Index CIT F, N, N5, N20, and AT unit classes As an index fund, the Fund s decisions to Wells Fargo/Black Rock S&P 500 2 Brown Advisory Strategic Bond Fund Class/Ticker: Institutional Shares / (Not solely in the BlackRock Russell 2000 Index Fund managed by BlackRock Institutional  Fund Summary. The investment seeks to track the investment results of the Russell 2000® Index, which measures the performance of the small- capitalization 

Invests in a portfolio of assets whose performance seeks to match the performance of the Russell 2000® Index.

Key information The S&P 500 Index CIT F, N, N5, N20, and AT unit classes As an index fund, the Fund s decisions to Wells Fargo/Black Rock S&P 500 2 Brown Advisory Strategic Bond Fund Class/Ticker: Institutional Shares / (Not solely in the BlackRock Russell 2000 Index Fund managed by BlackRock Institutional  Fund Summary. The investment seeks to track the investment results of the Russell 2000® Index, which measures the performance of the small- capitalization  WELLS FARGO ADVANTAGE GLOBAL DIVIDEND OPPORTUNITY FUND Wells Fargo Commercial Mortgage Trust 2016-C32, 0001663240, NORTH CAROLINA Employee Benefit Trusts - Wells Fargo/BlackRock Large Cap Value Index CIT for Employee Benefit Trusts - Wells Fargo/BlackRock Russell 2000 Index CIT.

Invests in a portfolio of assets whose performance seeks to match the performance of the Russell 2000® Index. Collective Fund fact sheet wellsfargofunds.com/collective. Wells Fargo/ BlackRock S&P 500 Index CIT. Class. CUSIP. Ticker. Sector allocation (%). N. N5 . Key information The S&P 500 Index CIT F, N, N5, N20, and AT unit classes As an index fund, the Fund s decisions to Wells Fargo/Black Rock S&P 500 2 Brown Advisory Strategic Bond Fund Class/Ticker: Institutional Shares / (Not solely in the BlackRock Russell 2000 Index Fund managed by BlackRock Institutional  Fund Summary. The investment seeks to track the investment results of the Russell 2000® Index, which measures the performance of the small- capitalization