EX-99.N 18F-3 PLAN 12 rule18f3multclas.htm RULE 18F-3 MULTI CLASS PLAN

WELLS FARGO FUNDS TRUST

RULE 18f-3 MULTI-CLASS PLAN

I. Introduction.

Pursuant to Rule 18f-3 under the Investment Company Act of 1940, as amended (the “1940 Act”), this Rule 18f-3 Multi-Class Plan (the “Plan”) sets forth the method for allocating fees and expenses among each class of shares in the separate investment portfolios (the “Funds”) of Wells Fargo Funds Trust (the “Trust”). In addition, the Plan sets forth the maximum initial sales charges, contingent deferred sales charges (“CDSCs”), Rule 12b-1 distribution fees, shareholder servicing fees, conversion features, exchange privileges and other shareholder services applicable to each class of shares of the Funds.

The Trust is an open-end series investment company registered under the 1940 Act, the shares of which are registered on Form N-1A under the Securities Act of 1933. The Trust hereby elects to offer multiple classes of shares of the Funds pursuant to the provisions of Rule 18f-3 and the Plan. Appendix A, as it may be amended from time to time, lists the Funds that have approved the Plan and the classes of each such Fund. Each such Fund that has authorized the issuance of multiple classes of shares is referred to as a “Multi-Class Fund” hereunder.

II. Allocation of Expenses.

A. Mandatory Class Expenses. Pursuant to Rule 18f-3, the Trust allocates to each class of shares of a Multi-Class Fund: (i) any fees and expenses incurred by the Fund in connection with the distribution of such class of shares under a distribution plan adopted for such class of shares pursuant to Rule 12b-1; and (ii) any fees and expenses incurred by the Fund under a shareholder servicing plan in connection with the provision of shareholder administrative or liaison services to the holders of such class of shares.

B. Board-Approved Class Expenses. The Trust’s Board of Trustees has approved the allocation of class-level administration fees incurred by a particular class of shares for administration services provided by the Multi-Class Funds’ administrator at the class level. Appendix B, as it may be amended from time to time, lists the class-level administration fees payable by each class of the Multi-Class Funds.

C. Discretionary Class Expenses. In addition, pursuant to Rule 18f-3, the Trust may allocate the following fees and expenses to a particular class of shares of a Multi-Class Fund:

(i)

transfer agent fees that are attributable to such class of shares;

(ii)

printing and postage expenses related to preparing and distributing materials such as shareholder reports, notices, prospectuses, reports, and proxies to current shareholders of that class or to regulatory agencies with respect to such class of shares;

(iii)

blue sky notification or other filing fees incurred with respect to such class of shares;

(iv)

Securities and Exchange Commission registration fees incurred with respect to such class of shares;

(v)

the expense of administrative personnel and services (including, but not limited to, those of a portfolio accountant, custodian or dividend paying agent charged with calculating net asset values or determining or paying dividends) as required to support the shareholders of such class of shares;

(vi)

litigation or other legal expenses incurred with respect to such class of shares;

(vii)

fees of the Trust’s Trustees incurred with respect to matters affecting such class of shares;

(viii)

independent accountants’ fees incurred with respect to such class of shares; and

(ix)

any other fees and expenses, not including advisory or custodial fees or other expenses related to the management of the Fund’s assets, incurred with respect to such class of shares.

For all purposes under this Plan, fees and expenses incurred “with respect to” a class of shares are those fees and expenses that are actually incurred in a different amount by the class or that relate to a different kind or degree of services provided to the class. Any decision to treat expenses referenced in this Subsection C as class expenses and any subsequent changes to such decision will be reviewed and approved by the Board of Trustees of the Trust, including a majority of the Trustees who are not interested persons of the Trust.

C. Relative Net Asset Value Allocation. Income, realized and unrealized capital gains and losses, and any expenses of a Multi-Class Fund not allocable to a particular class of the Fund pursuant to this Plan shall be allocated to each class of the Fund based upon the relative net asset value of that class in relation to the aggregate net asset value of the Fund. In certain cases, a service provider for a Multi-Class Fund may waive or reimburse all or a portion of the expenses of a specific class of shares of the Multi-Class Fund. The Board of Trustees will monitor any such waivers or reimbursements to ensure that they do not generate inappropriate cross-subsidization between classes.

III. Class Arrangements.

The following summarizes the maximum initial sales charges, CDSCs, Rule 12b-1 distribution fees, shareholder servicing fees, conversion features, exchange privileges and other shareholder services applicable to a particular class of shares of the Multi-Class Funds. Appendix A sets forth the actual sales charges, Rule 12b-1 fees and shareholder servicing fees of each class of shares of each Multi-Class Fund. Additional details and restrictions regarding such fees and services are set forth in the relevant Fund’s current Prospectus and Statement of Additional Information.

A. Class A Shares -- Multi-Class Funds.

Maximum Initial Sales Charge: Not to exceed 5.75% of the net asset value (“NAV”) at the time of purchase, as further specified in Appendix A.

Contingent Deferred Sales Charge: Class A shares that are purchased at NAV in amounts of $1,000,000 or more will be assessed a CDSC of 1.00% if they are redeemed within one year from the date of purchase. Effective February 1, 2008, such Class A share purchases may be assessed such CDSC if they are redeemed within eighteen months from the date of purchase. The CDSC will be calculated based upon the NAV at the time of purchase of the Class A shares being redeemed.

Maximum Annual Rule 12b-1 Distribution Fee: Not to exceed 0.25% of average daily net assets attributable to Class A shares, as further specified in Appendix A.

Maximum Annual Shareholder Servicing Fee: Not to exceed 0.25% of average daily net assets attributable to Class A shares, as further specified in Appendix A.

Conversion Features: None

Exchange Privileges: As described in the current prospectus for each Fund.

B. Class A2 Shares – Multi-Class Funds.

Maximum Initial Sales Charge: Not to exceed 5.75% of the net asset value (“NAV”) at the time of purchase, as further specified in Appendix A.

Maximum Annual Rule 12b-1 Distribution Fee: Not to exceed 0.25% of average daily net assets attributable to Class A shares, as further specified in Appendix A.

Maximum Annual Shareholder Servicing Fee: Not to exceed 0.25% of average daily net assets attributable to Class A shares, as further specified in Appendix A.

Conversion Features: None

Exchange Privileges: As described in the current prospectus for each Fund.

C. Class B Shares -- Multi-Class Funds.

	1.	Maximum Initial Sales Charge: None

	2.	Contingent Deferred Sales Charge: Class B shares that are redeemed within six years from the receipt of a purchase order affecting such shares are subject to a CDSC equal to the percentage indicated below of the dollar amount of the applicable NAV. For Class B shares purchased prior to June 9, 2003, the CDSC will be calculated based upon the lesser of the NAV at the time of purchase of the Class B shares being redeemed or the NAV of such shares at the time of redemption. For Class B shares purchased on or after June 9, 2003, the CDSC will be calculated based upon the NAV at the time of purchase of the Class B shares being redeemed. No CDSC is imposed on Class B shares purchased through reinvestment of dividends or capital gain distributions. No CDSC is imposed on annual redemptions totaling 10% or less of an investor’s holdings through the systematic withdrawal program.

		Redemption Within: 1 Year 2 Years 3 Years 4 Years 5 Years 6 Years 7 Years CDSC: 5.0% 4.0% 3.0% 3.0% 2.0% 1.0% 0.0%

Maximum Annual Rule 12b-1 Distribution Fee: Not to exceed 0.75% of average daily net assets attributable to Class B shares, as further specified in Appendix A.

Maximum Annual Shareholder Servicing Fee: Not to exceed 0.25% of average daily net assets attributable to Class B shares, as further specified in Appendix A.

Conversion Features: Class B shares of a Multi-Class Fund that have been outstanding for seven years after the end of the month in which the shares were initially purchased automatically convert to Class A shares of such Fund. Such conversion is on the basis of the relative NAVs of the two classes, without the imposition of any sales charge or other charge.

Exchange Privileges: As described in the current prospectus for each Fund.

D. Class C Shares— Multi-Class Funds.

	1.	Maximum Initial Sales Charge: None

	2.	Contingent Deferred Sales Charge: Class C shares that are redeemed within one year of a receipt of a purchase order affecting such shares are subject to a CDSC of 1.00%. For Class C shares purchased prior to June 9, 2003, the CDSC will be calculated based upon

		the lesser of NAV at the time of purchase of the Class C shares being redeemed or the NAV of such shares at the time of redemption. For Class C shares purchased on or after June 9, 2003, the CDSC will be calculated based upon the NAV at the time of purchase of the Class C shares being redeemed. No CDSC is imposed on Class C shares purchased through reinvestment of dividends or capital gain distributions. No CDSC is imposed on annual redemptions totaling 10% or less of an investor’s holdings through the systematic withdrawal program.

	3.	Maximum Annual Rule 12b-1 Distribution Fee: Not to exceed 0.75% of average daily net assets attributable to Class C shares, as further specified in Appendix A.

Maximum Annual Shareholder Servicing Fee: Not to exceed 0.25% of average daily net assets attributable to Class C shares, as further specified in Appendix A.

Conversion Features: Effective February 5, 2019, Class C shares of a Multi-Class Fund that have been outstanding for ten¹ years after the end of the month in which the shares were initially purchased or otherwise acquired automatically convert to Class A shares of such Fund. Such conversions to Class A shares will be made at net asset value minus any applicable CDSC, without the imposition of any sales charge or other charge.

Exchange Privileges: As described in the current prospectus for each Fund.

E. Class R Shares – Multi-Class Funds.

	1.	Maximum Initial Sales Charge: None

	2.	Contingent Deferred Sales Charge: None

	3.	Maximum Annual Rule 12b-1 Distribution Fee: Not to exceed 0.25% of average daily net assets attributable to Class R shares, as further specified in Appendix A.

	4.	Maximum Annual Shareholder Servicing Fee: Not to exceed 0.25% of the average daily net assets attributable to Class R shares, as further specified in Appendix A.

	5.	Conversion Features: None

	6.	Exchange Privileges: As described in the current prospectus for each Fund.

F. Class T Shares -- Multi-Class Funds.

Maximum Initial Sales Charge: Not to exceed 2.5% of the net asset value (“NAV”) at the time of purchase, as further specified in Appendix A.

Contingent Deferred Sales Charge: None

Maximum Annual Rule 12b-1 Distribution Fee: None

Maximum Annual Shareholder Servicing Fee: Not to exceed 0.25% of average daily net assets attributable to Class T shares, as further specified in Appendix A.

10.

Conversion Features: None

11.

Exchange Privileges: As described in the current prospectus for each Fund.

G. Administrator Class Shares -- Multi-Class Non-Money Market Funds.

Maximum Initial Sales Charge: None

On August 11, 2020, the Board of Trustees of Wells Fargo Funds Trust approved a change in the automatic conversion feature of Class C shares to Class A shares to shorten the holding period from 10 years to 8 years, effective November 5, 2020.

Contingent Deferred Sales Charge: None

Maximum Annual Rule 12b-1 Distribution Fee: None

Maximum Annual Shareholder Servicing Fee: Not to exceed 0.25% of average daily net assets attributable to Administrator Class shares, as further specified in Appendix A.

Conversion Features: None

Exchange Privileges: As described in the current prospectus for each Fund.

H. Administrator Class Shares – Multi-Class Money Market Funds.

1. Maximum Initial Sales Charge: None

2. Contingent Deferred Sales Charge: None

3. Maximum Annual Rule 12b-1 Distribution Fee: None

Maximum Annual Shareholder Servicing Fee: Not to exceed 0.10% of the average daily net assets attributable to Administrator Class shares, as further specified in Appendix A.

5. Conversion Features: None

6. Exchange Privileges: As described in the current prospectus for each Fund.

I. Institutional Class Shares -- Multi-Class Funds.

Maximum Initial Sales Charge: None

Contingent Deferred Sales Charge: None

Maximum Annual Rule 12b-1 Distribution Fee: None

Maximum Annual Shareholder Servicing Fee: None

Conversion Features: None

Exchange Privileges: As described in the current prospectus for the Fund.

J. Class R4 Shares – Multi-Class Funds.

1. Maximum Initial Sales Charge: None

2. Contingent Deferred Sales Charge: None

3. Maximum Annual Rule 12b-1 Distribution Fee: None

Maximum Annual Shareholder Servicing Fee: Not to exceed 0.10% of the average daily net assets attributable to Administrator Class shares, as further specified in Appendix A.

Conversion Features: None

6. Exchange Privileges: As described in the current prospectus for each Fund.

K. Class R6 Shares – Multi-Class Funds.

1. Maximum Initial Sales Charge: None

2. Contingent Deferred Sales Charge: None

3. Maximum Annual Rule 12b-1 Distribution Fee: None

Maximum Annual Shareholder Servicing Fee: None

Conversion Features: None

Exchange Privileges: As described in the current prospectus for each Fund.

L. Select Class Shares – Multi-Class Money Market Funds.

1. Maximum Initial Sales Charge: None

2. Contingent Deferred Sales Charge: None

3. Maximum Annual Rule 12b-1 Distribution Fee: None

Maximum Annual Shareholder Servicing Fee: None

Conversion Features: None

6. Exchange Privileges: As described in the current prospectus for each Fund.

M. Service Class Shares -- Multi-Class Funds.

Maximum Initial Sales Charge: None

Contingent Deferred Sales Charge: None

Maximum Annual Rule 12b-1 Distribution Fee: None

Maximum Annual Shareholder Servicing Fee: Not to exceed 0.25% of the average daily net assets attributable to Service Class shares, as further specified in Appendix A.

Conversion Features: None

Exchange Privileges: As described in the current prospectus for each Fund.

N. Sweep Class Shares – Multi-Class Money Market Funds.

1. Maximum Initial Sales Charge: None

2. Contingent Deferred Sales Charge: None

Maximum Annual Rule 12b-1 Distribution Fee: Not to exceed 0.35% of the average daily net assets attributable to Sweep Class shares, as further specified in Appendix A.

Maximum Annual Shareholder Servicing Fee: Not to exceed 0.25% of the average daily net assets attributable to Sweep Class shares, as further specified in Appendix A.

5. Conversion Features: None

6. Exchange Privileges: As described in the current prospectus for each Fund.

O. Premier Class Shares – Money Market Funds.

Maximum Initial Sales Charge: None

Contingent Deferred Sales Charge: None

Maximum Annual Rule 12b-1 Distribution Fee: None

Maximum Annual Shareholder Servicing Fee: None

Conversion Features: None

Exchange Privileges: As described in the current prospectus for the Fund.

IV.

Board Review.

The Board of Trustees of the Trust shall review the Plan as it deems necessary. Prior to any material amendment(s) to the Plan with respect to any Multi-Class Fund’s shares, the Trust’s Board of Trustees, including a majority of the Trustees that are not interested persons of the Trust, shall find that the Plan, as proposed to be amended (including any proposed amendments to the method of allocating class and/or fund expenses), is in the best interest of each class of shares of the Fund individually and the Fund as a whole. In considering whether to approve any proposed amendment(s) to the Plan, the Trustees of the Trust shall request and evaluate such information as they consider reasonably necessary to evaluate the proposed amendment(s) to the Plan.

Adopted: March 26, 1999

Most recently amended: August 11, 2020

APPENDIX A

RULE 18f-3 MULTI-CLASS PLAN

WELLS FARGO FUNDS TRUST

Funds Trust Multi Class

Funds and Share Classes

Maximum Initial Sales Charge^{^}

Maximum

CDSC^±^{,^}

Maximum 12b-1 Fee

Maximum Shareholder Servicing Fee

Absolute Return Fund

Class A

Class C

Class R

Class R6

Administrator Class

Institutional Class

5.75

None

1.00

None

0.75

0.25

None

0.25

None

0.25

None

Adjustable Rate Government Fund

Class A

Class C

Administrator Class

Institutional Class

2.00

None

1.00

None

0.75

None

0.25

None

Alternative Risk Premia Fund

Class R6

Institutional Class

None

Asset Allocation Fund

Class A

Class C

Class R

Administrator Class

Institutional Class

5.75

None

1.00

None

0.75

0.25

None

0.25

None

C&B Large Cap Value Fund

Class A

Class C

Class R6

Administrator Class

Institutional Class

5.75

None

1.00

None

0.75

None

0.25

None

0.25

None

C&B Mid Cap Value Fund

Class A

Class C

Class R6

Administrator Class

Institutional Class

5.75

None

1.00

None

0.75

None

0.25

None

0.25

None

California Limited-Term Tax-Free Fund

Class A

Class C

Administrator Class

Institutional Class

2.00

None

1.00

None

0.75

None

0.25

None

California Tax-Free Fund

Class A

Class C

Administrator Class

Institutional Class

4.50

None

1.00

None

0.75

None

0.25

None

A-1

Funds Trust Multi Class

Funds and Share Classes

Maximum Initial Sales Charge^{^}

Maximum

CDSC^±^{,^}

Maximum 12b-1 Fee

Maximum Shareholder Servicing Fee

Cash Investment Money Market Fund

Administrator Class

Institutional Class

Select Class

Service Class

None

0.10

None

0.25

Classic Value Fund

Class A

Class C

Class R

Class R6

Administrator Class

Institutional Class

5.75

None

1.00

None

0.75

0.25

None

0.25

None

0.25

None

Common Stock Fund

Class A

Class C

Class R6

Administrator Class

Institutional Class

5.75

None

1.00

None

0.75

None

0.25

None

0.25

None

Conservative Income Fund

Class A2

Institutional Class

2.00

None

0.25

None

Core Bond Fund

Class A

Class C

Class R

Class R4

Class R6

Administrator Class

Institutional Class

4.50

None

1.00

None

0.75

0.25

None

0.25

0.10

None

0.25

None

Core Plus Bond Fund

Class A

Class C

Class R6

Administrator Class

Institutional Class

4.50

None

1.00

None

0.75

None

0.25

None

0.25

None

Disciplined Small Cap Fund

Class A

Class R6

Administrator Class

Institutional Class

5.75

None

0.25

None

0.25

None

Disciplined U.S. Core Fund

Class A

Class C

Class R

Class R6

Administrator Class

Institutional Class

5.75

None

1.00

None

0.75

0.25

None

0.25

None

0.25

None

A-2

Funds Trust Multi Class

Funds and Share Classes

Maximum Initial Sales Charge^{^}

Maximum

CDSC^±^{,^}

Maximum 12b-1 Fee

Maximum Shareholder Servicing Fee

Discovery Fund

Class A

Class C

Class R6

Administrator Class

Institutional Class

5.75

None

1.00

None

0.75

None

0.25

None

0.25

None

Diversified Capital Builder Fund

Class A

Class C

Administrator Class

Institutional Class

5.75

None

1.00

None

0.75

None

0.25

None

Diversified Equity Fund

Class A

Class C

Administrator Class

5.75

None

1.00

None

0.75

None

0.25

Diversified Income Builder Fund

Class A

Class C

Class R6

Administrator Class

Institutional Class

5.75

None

1.00

None

0.75

None

0.25

None

0.25

None

Diversified International Fund

Class A

Class C

Class R6

Administrator Class

Institutional Class

5.75

None

1.00

None

0.75

None

0.25

None

0.25

None

Dynamic Target Today Fund

Class A

Class C

Class R4

Class R6

5.75

None

1.00

None

0.75

None

0.25

0.10

None

Dynamic Target 2015 Fund

Class A

Class C

Class R4

Class R6

5.75

None

1.00

None

0.75

None

0.25

0.10

None

Dynamic Target 2020 Fund

Class A

Class C

Class R4

Class R6

5.75

None

1.00

None

0.75

None

0.25

0.10

None

Dynamic Target 2025 Fund

Class A

Class C

Class R4

Class R6

5.75

None

1.00

None

0.75

None

0.25

0.10

None

Dynamic Target 2030 Fund

Class A

Class C

Class R4

Class R6

5.75

None

1.00

None

0.75

None

0.25

0.10

None

A-3

Funds Trust Multi Class

Funds and Share Classes

Maximum Initial Sales Charge^{^}

Maximum

CDSC^±^{,^}

Maximum 12b-1 Fee

Maximum Shareholder Servicing Fee

Dynamic Target 2035 Fund

Class A

Class C

Class R4

Class R6

5.75

None

1.00

None

0.75

None

0.25

0.10

None

Dynamic Target 2040 Fund

Class A

Class C

Class R4

Class R6

5.75

None

1.00

None

0.75

None

0.25

0.10

None

Dynamic Target 2045 Fund

Class A

Class C

Class R4

Class R6

5.75

None

1.00

None

0.75

None

0.25

0.10

None

Dynamic Target 2050 Fund

Class A

Class C

Class R4

Class R6

5.75

None

1.00

None

0.75

None

0.25

0.10

None

Dynamic Target 2055 Fund

Class A

Class C

Class R4

Class R6

5.75

None

1.00

None

0.75

None

0.25

0.10

None

Dynamic Target 2060 Fund

Class A

Class C

Class R4

Class R6

5.75

None

1.00

None

0.75

None

0.25

0.10

None

Emerging Growth Fund

Class A

Class C

Class R6

Administrator Class

Institutional Class

5.75

None

1.00

None

0.75

None

0.25

None

0.25

None

Emerging Markets Equity Fund

Class A

Class C

Class R6

Administrator Class

Institutional Class

5.75

None

1.00

None

0.75

None

0.25

None

0.25

None

Emerging Markets Equity Income Fund

Class A

Class C

Class R

Class R6

Administrator Class

Institutional Class

5.75

None

1.00

None

0.75

0.25

None

0.25

None

0.25

None

A-4

Funds Trust Multi Class

Funds and Share Classes

Maximum Initial Sales Charge^{^}

Maximum

CDSC^±^{,^}

Maximum 12b-1 Fee

Maximum Shareholder Servicing Fee

Endeavor Select Fund

Class A

Class C

Class R6

Administrator Class

Institutional Class

5.75

None

1.00

None

0.75

None

0.25

None

0.25

None

Enterprise Fund

Class A

Class C

Class R6

Administrator Class

Institutional Class

5.75

None

1.00

None

0.75

None

0.25

None

0.25

None

Fundamental Small Cap Growth Fund

Class A

Class C

Class R6

Administrator Class

Institutional Class

5.75

None

1.00

None

0.75

None

0.25

None

0.25

None

Global Investment Grade Credit Fund

Class R6

Institutional Class

None

Global Small Cap Fund

Class A

Class C

Administrator Class

Institutional Class

5.75

None

1.00

None

0.75

None

0.25

None

Government Money Market Fund

Class A

Administrator Class

Institutional Class

Select Class

Service Class

Sweep Class

None

0.35

0.25

0.10

None

0.25

Government Securities Fund

Class A

Class C

Administrator Class

Institutional Class

4.50

None

1.00

None

0.75

None

0.25

None

Growth Balanced Fund

Class A

Class C

Administrator Class

5.75

None

1.00

None

0.75

None

0.25

Growth Fund

Class A

Class C

Class R6

Administrator Class

Institutional Class

5.75

None

1.00

None

0.75

None

0.25

None

0.25

None

A-5

Funds Trust Multi Class

Funds and Share Classes

Maximum Initial Sales Charge^{^}

Maximum

CDSC^±^{,^}

Maximum 12b-1 Fee

Maximum Shareholder Servicing Fee

Heritage Money Market Fund

Administrator Class

Institutional Class

Select Class

Service Class

None

0.10

None

0.25

High Yield Bond Fund

Class A

Class C

Administrator Class

Institutional Class

4.50

None

1.00

None

0.75

None

0.25

None

High Yield Municipal Bond Fund

Class A

Class C

Class R6

Administrator Class

Institutional Class

4.50

None

1.00

None

0.75

None

0.25

None

0.25

None

Income Plus Fund

Class A

Class C

Administrator Class

Institutional Class

4.00

None

1.00

None

0.75

None

0.25

None

Index Asset Allocation Fund

Class A

Class C

Administrator Class

Institutional Class

5.75

None

1.00

None

0.75

None

0.25

None

Index Fund

Class A

Class C

Administrator Class

5.75

None

1.00

None

0.75

None

0.25

0.10

Intermediate Tax/AMT-Free Fund

Class A

Class C

Class R6

Administrator Class

Institutional Class

3.00

None

1.00

None

0.75

None

0.25

None

0.25

None

International Bond Fund

Class A

Class C

Class R6

Administrator Class

Institutional Class

4.50

None

1.00

None

0.75

None

0.25

None

0.25

None

International Equity Fund

Class A

Class C

Class R

Class R6

Administrator Class

Institutional Class

5.75

None

1.00

None

0.75

0.25

None

0.25

None

0.25

None

A-6

Funds Trust Multi Class

Funds and Share Classes

Maximum Initial Sales Charge^{^}

Maximum

CDSC^±^{,^}

Maximum 12b-1 Fee

Maximum Shareholder Servicing Fee

International Value Fund

Class A

Class C

Class R6

Administrator Class

Institutional Class

5.75

None

1.00

None

0.75

None

0.25

None

0.25

None

Intrinsic Small Cap Value Fund

Class A

Class C

Class R6

Administrator Class

Institutional Class

5.75

None

1.00

None

0.75

None

0.25

None

0.25

None

Intrinsic World Equity Fund

Class A

Class C

Administrator Class

Institutional Class

5.75

None

1.00

None

0.75

None

0.25

None

Large Cap Core Fund

Class A

Class C

Class R

Class R6

Administrator Class

Institutional Class

5.75

None

1.00

None

0.75

0.25

None

0.25

None

0.25

None

Large Cap Growth Fund

Class A

Class C

Class R

Class R4

Class R6

Administrator Class

Institutional Class

5.75

None

1.00

None

0.75

0.25

None

0.25

0.10

None

0.25

None

Large Company Value Fund

Class A

Class C

Class R6

Administrator Class

Institutional Class

5.75

None

1.00

None

0.75

None

0.25

None

0.25

None

Low Volatility U.S. Equity Fund

Class A

Class C

Class R6

Administrator Class

Institutional Class

5.75

None

1.00

None

0.75

None

0.25

None

0.25

None

Minnesota Tax-Free Fund

Class A

Class C

Administrator Class

Institutional Class

4.50

None

1.00

None

0.75

None

0.25

None

A-7

Funds Trust Multi Class

Funds and Share Classes

Maximum Initial Sales Charge^{^}

Maximum

CDSC^±^{,^}

Maximum 12b-1 Fee

Maximum Shareholder Servicing Fee

Moderate Balanced Fund

Class A

Class C

Administrator Class

Institutional Class

5.75

None

1.00

None

0.75

None

0.25

None

Money Market Fund

Class A

Class C

Premier Class

Service Class

None

1.00

None

0.75

None

0.25

None

0.25

Municipal Bond Fund

Class A

Class C

Class R6

Administrator Class

Institutional Class

4.50

None

1.00

None

0.75

None

0.25

None

0.25

None

Municipal Cash Management Money Market Fund

Administrator Class

Institutional Class

Service Class

None

0.10

None

0.25

Municipal Sustainability Fund

Class A

Class C

Class R6

Administrator Class

Institutional Class

4.50

None

1.00

None

0.75

None

0.25

None

0.25

None

National Tax-Free Money Market Fund

Class A

Administrator Class

Premier Class

Service Class

None

0.25

0.10

None

0.25

Omega Growth Fund

Class A

Class C

Class R

Administrator Class

Institutional Class

5.75

None

1.00

None

0.75

0.25

None

0.25

None

Opportunity Fund

Class A

Class C

Class R6

Administrator Class

Institutional Class

5.75

None

1.00

None

0.75

None

0.25

None

0.25

None

Pennsylvania Tax-Free Fund

Class A

Class C

Institutional Class

4.50

None

1.00

None

0.75

None

0.25

None

A-8

Funds Trust Multi Class

Funds and Share Classes

Maximum Initial Sales Charge^{^}

Maximum

CDSC^±^{,^}

Maximum 12b-1 Fee

Maximum Shareholder Servicing Fee

Precious Metals Fund

Class A

Class C

Administrator Class

Institutional Class

5.75

None

1.00

None

0.75

None

0.25

None

Premier Large Company Growth Fund

Class A

Class C

Class R4

Class R6

Administrator Class

Institutional Class

5.75

None

1.00

None

0.75

None

0.25

0.10

None

0.25

None

Real Return Fund

Class A

Class C

Class R6

Administrator Class

Institutional Class

4.50

None

1.00

None

0.75

None

0.25

None

0.25

None

Short Duration Government Bond Fund

Class A

Class C

Class R6

Administrator Class

Institutional Class

2.00

None

1.00

None

0.75

None

0.25

None

0.25

None\

Short-Term Bond Plus Fund

Class A

Class C

Class R6

Institutional Class

2.00

None

1.00

None

0.75

None

0.25

None

Short-Term High Yield Bond Fund

Class A

Class C

Administrator Class

Institutional Class

3.00

None

1.00

None

0.75

None

0.25

None

Short-Term Municipal Bond Fund

Class A

Class C

Class R6

Administrator Class

Institutional Class

2.00

None

1.00

None

0.75

None

0.25

None

0.25

None

Small Company Growth Fund

Class A

Class C

Class R6

Administrator Class

Institutional Class

5.75

None

1.00

None

0.75

None

0.25

None

0.25

None

Small Company Value Fund

Class A

Class C

Class R6

Administrator Class

Institutional Class

5.75

None

1.00

None

0.75

None

0.25

None

0.25

None

A-9

Funds Trust Multi Class

Funds and Share Classes

Maximum Initial Sales Charge^{^}

Maximum

CDSC^±^{,^}

Maximum 12b-1 Fee

Maximum Shareholder Servicing Fee

Specialized Technology Fund

Class A

Class C

Administrator Class

Institutional Class

5.75

None

1.00

None

0.75

None

0.25

None

Special International Small Cap Fund

Class R6

Institutional Class

None

Special Mid Cap Value Fund

Class A

Class C

Class R

Class R6

Administrator Class

Institutional Class

5.75

None

1.00

None

0.75

0.25

None

0.25

None

0.25

None

Special Small Cap Value Fund

Class A

Class C

Class R

Class R6

Administrator Class

Institutional Class

5.75

None

1.00

None

0.75

0.25

None

0.25

None

0.25

None

Strategic Municipal Bond Fund

Class A

Class C

Class R6

Administrator Class

Institutional Class

4.00

None

1.00

None

0.75

None

0.25

None

0.25

None

Target Today Fund

Class A

Class C

Class R

Class R4

Class R6

Administrator Class

5.75

None

1.00

None

0.75

0.25

None

0.25

0.10

None

0.25

Target 2010 Fund

Class A

Class C

Class R

Class R4

Class R6

Administrator Class

5.75

None

1.00

None

0.75

0.25

None

0.25

0.10

None

0.25

Target 2015 Fund

Class A

Class R

Class R4

Class R6

Administrator Class

5.75

None

0.25

None

0.25

0.10

None

0.25

A-10

Funds Trust Multi Class

Funds and Share Classes

Maximum Initial Sales Charge^{^}

Maximum

CDSC^±^{,^}

Maximum 12b-1 Fee

Maximum Shareholder Servicing Fee

Target 2020 Fund

Class A

Class C

Class R

Class R4

Class R6

Administrator Class

5.75

None

1.00

None

0.75

0.25

None

0.25

0.10

None

0.25

Target 2025 Fund

Class A

Class R

Class R4

Class R6

Administrator Class

5.75

None

0.25

None

0.25

0.10

None

0.25

Target 2030 Fund

Class A

Class C

Class R

Class R4

Class R6

Administrator Class

5.75

None

1.00

None

0.75

0.25

None

0.25

0.10

None

0.25

Target 2035 Fund

Class A

Class R

Class R4

Class R6

Administrator Class

5.75

None

0.25

None

0.25

0.10

None

0.25

Target 2040 Fund

Class A

Class C

Class R

Class R4

Class R6

Administrator Class

5.75

None

1.00

None

0.75

0.25

None

0.25

0.10

None

0.25

Target 2045 Fund

Class A

Class R

Class R4

Class R6

Administrator Class

5.75

None

0.25

None

0.25

0.10

None

0.25

Target 2050 Fund

Class A

Class C

Class R

Class R4

Class R6

Administrator Class

5.75

None

1.00

None

0.75

0.25

None

0.25

0.10

None

0.25

Target 2055 Fund

Class A

Class R

Class R4

Class R6

Administrator Class

5.75

None

0.25

None

0.25

0.10

None

0.25

A-11

Funds Trust Multi Class

Funds and Share Classes

Maximum Initial Sales Charge^{^}

Maximum

CDSC^±^{,^}

Maximum 12b-1 Fee

Maximum Shareholder Servicing Fee

Target 2060 Fund

Class A

Class C

Class R

Class R4

Class R6

Administrator Class

5.75

None

1.00

None

0.75

0.25

None

0.25

0.10

None

0.25

Treasury Plus Money Market Fund

Class A

Administrator Class

Institutional Class

Select Class

Service Class

None

0.25

0.10

None

0.25

Ultra Short-Term Income Fund

Class A

Class A2

Class C

Administrator Class

Institutional Class

2.00

None

1.00

None

0.75

None

0.25

None

Ultra Short-Term Municipal Income Fund

Class A

Class A2

Class C

Class R6

Administrator Class

Institutional Class

2.00

None

1.00

None

0.75

None

0.25

None

0.25

None

Utility and Telecommunications Fund

Class A

Class C

Administrator Class

Institutional Class

5.75

None

1.00

None

0.75

None

0.25

None

WealthBuilder Conservative Allocation Fund²

Class A

Class C

Institutional Class

5.75

None

1.00

None

0.75

None

0.25

None

WealthBuilder Equity Fund³

Class A

Class C

Institutional Class

5.75

None

1.00

None

0.75

None

0.25

None

WealthBuilder Growth Allocation Fund⁴

Class A

Class C

Institutional Class

5.75

None

1.00

None

0.75

None

0.25

None

On August 11, 2020 the Board of Trustees approved the fund name change of the WeathBuilder Conservative Allocation Fund to the Spectrum Income Allocation Fund, effective on or about October 30, 2020.

On August 11, 2020 the Board of Trustees approved the fund name change of the WeathBuilder Equity Fund to the Spectrum Aggressive Growth Fund, effective on or about October 30, 2020.

⁴

On August 11, 2020 the Board of Trustees approved the fund name change of the WeathBuilder Growth Allocation Fund to the Spectrum Growth Fund, effective on or about October 30, 2020.

A-12

Funds Trust Multi Class

Funds and Share Classes

Maximum Initial Sales Charge^{^}

Maximum

CDSC^±^{,^}

Maximum 12b-1 Fee

Maximum Shareholder Servicing Fee

WealthBuilder Growth Balanced Fund⁵

Class A

Class C

Institutional Class

5.75

None

1.00

None

0.75

None

0.25

None

WealthBuilder Moderate Balanced Fund⁶

Class A

Class C

Institutional Class

5.75

None

1.00

None

0.75

None

0.25

None

Wisconsin Tax-Free Fund

Class A

Class C

Institutional Class

4.50

None

1.00

None

0.75

None

0.25

None

100% Treasury Money Market Fund

Class A

Administrator Class

Institutional Class

Service Class

None

0.25

0.10

None

0.25

Appendix A amended: August 11, 2020

^± Class A shares that are purchased at NAV in amounts of $1,000,000 or more have no initial sales charge and will be assessed a 1.00% CDSC if they are redeemed within eighteen months from the date of purchase, unless the dealer of record waives its commission (except for those Funds identified in the table as having Class A shares that are not subject to any CDSC). Class A shares purchased at NAV in amounts of less than $1,000,000 have an initial sales charge and will not be assessed a CDSC.

Class A shares for the, Intermediate Tax/AMT-Free Fund and Short-Term Municipal Bond Fund that are purchased at NAV in amounts of $1,000,000 will be assessed a 0.50% if they are redeemed within eighteen months from the date of purchase, unless the dealer of record waives its commission. Effective November 1, 2012, Class A shares for the Intermediate Tax/AMT-Free Fund that are purchased at NAV in amounts of $500,000 or more will be assessed a 0.50% CDSC if the shares are redeemed within 12 months of purchase. In addition,

Class A shares for the Short-Term High Yield Bond Fund that are purchased at NAV in amounts of $500,000 will be assessed a 0.40% if they are redeemed within twelve months from the date of purchase, unless the dealer of record waives its commission. Effective November 1, 2012, Class A shares for the Short-Term High Yield Bond Fund that are purchased at NAV in amounts of $500,000 or more will be assessed a 0.50% CDSC if the shares are redeemed within 12 months of purchase.

Class A shares for the Adjustable Rate Government Fund, California Limited-Term Tax-Free Fund, Short Duration Government Bond Fund and Short-Term Bond Fund that are purchased at NAV in amounts of $500,000 or more will be assessed a 0.40% if they are redeemed within twelve months from the date of purchase, unless the dealer of record waives its commission.

^{^}

Front-end sales load waivers and/or discounts with respect to Class A, Class B, Class C and/or Class T and waivers of contingent deferred sales charge (“CDSC”) waivers with respect to Class A, Class B, Class C may be made available only to customers of a specific financial intermediary selling shares of a Fund (“Intermediary”) or to shareholders purchasing through an Intermediary platform or account, in each case, as disclosed in a Fund’s Prospectus.

⁵

On August 11, 2020 the Board of Trustees approved the fund name change of the WeathBuilder Growth Balanced Fund to the Spectrum Moderate Balanced Fund, effective on or about October 30, 2020.

⁶

On August 11, 2020 the Board of Trustees approved the fund name change of the WeathBuilder Moderate Balanced Fund to the Spectrum Conservative Growth Fund, effective on or about October 30, 2020.

A-13

APPENDIX B

Multi-Class Funds and Classes

Class-Level

Administration Fee

Multi-Class Non-Money Market/Non-Fixed Income Funds and Classes (other than Asset Allocation Fund)

Class A, Class C, Class R	0.21%
Administrator Class	0.13%
Institutional Class and Class R4	0.13%
Class R4	0.08%
Class R6	0.03%

Absolute Return Fund

Class A, Class C, Class R	0.21%
Administrator Class	0.13%
Institutional Class	0.13%
Class R6	0.03%

Asset Allocation Fund

Class A, Class C, Class R	0.21%
Administrator Class	0.13%
Institutional Class	0.13%

Multi-Class Fixed Income Funds and Classes (Non-Money Market Funds)

Class A, Class A2, Class C, Class R	0.16%
Administrator Class	0.10%
Institutional Class and Class R4	0.08%
Class R6	0.03%

Multi-Class Money Market Funds and Classes

Class A and Class C	0.22%
Administrator Class	0.10%
Premier Class	0.08%
Institutional Class	0.08%
Select Class	0.04%
Service Class	0.12%
Sweep Class	0.03%

Appendix B amended: April 14, 2020

A-14