# EDGAR Filing Document

**Accession Number:** 0001355064
**File Stem:** 0001580642-25-007014
**Filing Date:** 2025-11
**Character Count:** 977838
**Document Hash:** 94b0ec31e31de4a688dc892c5d5a9b8e
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0001580642-25-007014.hdr.sgml**: 20251105

**ACCESSION NUMBER**: 0001580642-25-007014

**CONFORMED SUBMISSION TYPE**: 497

**PUBLIC DOCUMENT COUNT**: 33

**FILED AS OF DATE**: 20251105

**DATE AS OF CHANGE**: 20251105

**EFFECTIVENESS DATE**: 20251105

**FILER**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** MUTUAL FUND SERIES TRUST
- **CENTRAL INDEX KEY:** 0001355064

**ORGANIZATION NAME:**
- **EIN:** 000000000
- **STATE OF INCORPORATION:** OH
- **FISCAL YEAR END:** 0630

**FILING VALUES:**
- **FORM TYPE:** 497
- **SEC ACT:** 1933 Act
- **SEC FILE NUMBER:** 333-132541
- **FILM NUMBER:** 251453244

**BUSINESS ADDRESS:**
- **STREET 1:** C/O GEMINI FUND SERVICES LLC
- **STREET 2:** 4221 NORTH 203RD STREET, SUITE 100
- **CITY:** ELKHORN
- **STATE:** NE
- **ZIP:** 68022-3474
- **BUSINESS PHONE:** 631 549 1859

**MAIL ADDRESS:**
- **STREET 1:** C/O GEMINI FUND SERVICES LLC
- **STREET 2:** 4221 NORTH 203RD STREET, SUITE 100
- **CITY:** ELKHORN
- **STATE:** NE
- **ZIP:** 68022-3474

**FORMER COMPANY:**
- **FORMER CONFORMED NAME:** CATALYST FUNDS
- **DATE OF NAME CHANGE:** 20060303

## Series and Classes Contracts Data

### Eventide Gilead Fund (Series ID: S000022598)

---

|  |  |  |
|:---|:---|:---|
| Class Name                   | Ticker Symbol | Class ID   |
| Eventide Gilead Fund Class N | ETGLX         | C000065340 |
| Eventide Gilead Fund Class A | ETAGX         | C000080457 |
| Eventide Gilead Fund Class C | ETCGX         | C000080458 |
| Eventide Gilead Fund Class I | ETILX         | C000080459 |

---

### Eventide Healthcare & Life Sciences Fund (Series ID: S000039514)

---

|  |  |  |
|:---|:---|:---|
| Class Name                                              | Ticker Symbol | Class ID   |
| Eventide Healthcare & Life Sciences Fund Class A Shares | ETAHX         | C000121707 |
| Eventide Healthcare & Life Sciences Fund Class C Shares | ETCHX         | C000121708 |
| Eventide Healthcare & Life Sciences Fund Class N Shares | ETNHX         | C000121709 |
| Eventide Healthcare & Life Sciences Fund Class I Shares | ETIHX         | C000121710 |

---

### Eventide Balanced Fund (Series ID: S000049985)

---

|  |  |  |
|:---|:---|:---|
| Class Name                     | Ticker Symbol | Class ID   |
| Eventide Balanced Fund Class A | ETAMX         | C000157835 |
| Eventide Balanced Fund Class C | ETCMX         | C000157836 |
| Eventide Balanced Fund Class I | ETIMX         | C000157837 |
| Eventide Balanced Fund Class N | ETNMX         | C000157838 |

---

### Eventide Dividend Growth Fund (Series ID: S000059102)

---

|  |  |  |
|:---|:---|:---|
| Class Name                                   | Ticker Symbol | Class ID   |
| Eventide Dividend Growth Fund Class A Shares | ETADX         | C000193764 |
| Eventide Dividend Growth Fund Class C Shares | ETCDX         | C000193765 |
| Eventide Dividend Growth Fund Class I Shares | ETIDX         | C000193766 |
| Eventide Dividend Growth Fund Class N Shares | ETNDX         | C000193767 |

---

### Eventide Limited-Term Bond Fund (Series ID: S000062486)

---

|  |  |  |
|:---|:---|:---|
| Class Name                              | Ticker Symbol | Class ID   |
| Eventide Limited-Term Bond Fund Class A | ETABX         | C000202730 |
| Eventide Limited-Term Bond Fund Class C | ETCBX         | C000202731 |
| Eventide Limited-Term Bond Fund Class I | ETIBX         | C000202732 |
| Eventide Limited-Term Bond Fund Class N | ETNBX         | C000202733 |

---

### Eventide Exponential Technologies Fund (Series ID: S000068813)

---

|  |  |  |
|:---|:---|:---|
| Class Name                                           | Ticker Symbol | Class ID   |
| Eventide Exponential Technologies Fund Class N Share | ETNEX         | C000219891 |
| Eventide Exponential Technologies Fund Class A Share | ETAEX         | C000219892 |
| Eventide Exponential Technologies Fund Class C Share | ETCEX         | C000219893 |
| Eventide Exponential Technologies Fund Class I Share | ETIEX         | C000219894 |

---

### Eventide Core Bond Fund (Series ID: S000069085)

---

|  |  |  |
|:---|:---|:---|
| Class Name                             | Ticker Symbol | Class ID   |
| Eventide Core Bond Fund Class N Shares | ETNRX         | C000220843 |
| Eventide Core Bond Fund Class A Shares | ETARX         | C000220844 |
| Eventide Core Bond Fund Class C Shares | ETCRX         | C000220845 |
| Eventide Core Bond Fund Class I Shares | ETIRX         | C000220846 |

---

### Eventide Large Cap Focus Fund (Series ID: S000076523)

---

|  |  |  |
|:---|:---|:---|
| Class Name                            | Ticker Symbol | Class ID   |
| Eventide Large Cap Focus Fund Class N | ETLNX         | C000236479 |
| Eventide Large Cap Focus Fund Class A | ETLAX         | C000236480 |
| Eventide Large Cap Focus Fund Class C | ETLCX         | C000236481 |
| Eventide Large Cap Focus Fund Class I | ETLIX         | C000236482 |

---

## Series and Classes Contracts Data

### Eventide Gilead Fund (Series ID: S000022598)

| Class ID   | Class Name                   | Ticker Symbol   |
|:---|:---|:---|
| C000065340 | Eventide Gilead Fund Class N | ETGLX           |
| C000080457 | Eventide Gilead Fund Class A | ETAGX           |
| C000080458 | Eventide Gilead Fund Class C | ETCGX           |
| C000080459 | Eventide Gilead Fund Class I | ETILX           |

### Eventide Healthcare & Life Sciences Fund (Series ID: S000039514)

| Class ID   | Class Name                                              | Ticker Symbol   |
|:---|:---|:---|
| C000121707 | Eventide Healthcare & Life Sciences Fund Class A Shares | ETAHX           |
| C000121708 | Eventide Healthcare & Life Sciences Fund Class C Shares | ETCHX           |
| C000121709 | Eventide Healthcare & Life Sciences Fund Class N Shares | ETNHX           |
| C000121710 | Eventide Healthcare & Life Sciences Fund Class I Shares | ETIHX           |

### Eventide Balanced Fund (Series ID: S000049985)

| Class ID   | Class Name                     | Ticker Symbol   |
|:---|:---|:---|
| C000157835 | Eventide Balanced Fund Class A | ETAMX           |
| C000157836 | Eventide Balanced Fund Class C | ETCMX           |
| C000157837 | Eventide Balanced Fund Class I | ETIMX           |
| C000157838 | Eventide Balanced Fund Class N | ETNMX           |

### Eventide Dividend Growth Fund (Series ID: S000059102)

| Class ID   | Class Name                                   | Ticker Symbol   |
|:---|:---|:---|
| C000193764 | Eventide Dividend Growth Fund Class A Shares | ETADX           |
| C000193765 | Eventide Dividend Growth Fund Class C Shares | ETCDX           |
| C000193766 | Eventide Dividend Growth Fund Class I Shares | ETIDX           |
| C000193767 | Eventide Dividend Growth Fund Class N Shares | ETNDX           |

### Eventide Limited-Term Bond Fund (Series ID: S000062486)

| Class ID   | Class Name                              | Ticker Symbol   |
|:---|:---|:---|
| C000202730 | Eventide Limited-Term Bond Fund Class A | ETABX           |
| C000202731 | Eventide Limited-Term Bond Fund Class C | ETCBX           |
| C000202732 | Eventide Limited-Term Bond Fund Class I | ETIBX           |
| C000202733 | Eventide Limited-Term Bond Fund Class N | ETNBX           |

### Eventide Exponential Technologies Fund (Series ID: S000068813)

| Class ID   | Class Name                                           | Ticker Symbol   |
|:---|:---|:---|
| C000219891 | Eventide Exponential Technologies Fund Class N Share | ETNEX           |
| C000219892 | Eventide Exponential Technologies Fund Class A Share | ETAEX           |
| C000219893 | Eventide Exponential Technologies Fund Class C Share | ETCEX           |
| C000219894 | Eventide Exponential Technologies Fund Class I Share | ETIEX           |

### Eventide Core Bond Fund (Series ID: S000069085)

| Class ID   | Class Name                             | Ticker Symbol   |
|:---|:---|:---|
| C000220843 | Eventide Core Bond Fund Class N Shares | ETNRX           |
| C000220844 | Eventide Core Bond Fund Class A Shares | ETARX           |
| C000220845 | Eventide Core Bond Fund Class C Shares | ETCRX           |
| C000220846 | Eventide Core Bond Fund Class I Shares | ETIRX           |

### Eventide Large Cap Focus Fund (Series ID: S000076523)

| Class ID   | Class Name                            | Ticker Symbol   |
|:---|:---|:---|
| C000236479 | Eventide Large Cap Focus Fund Class N | ETLNX           |
| C000236480 | Eventide Large Cap Focus Fund Class A | ETLAX           |
| C000236481 | Eventide Large Cap Focus Fund Class C | ETLCX           |
| C000236482 | Eventide Large Cap Focus Fund Class I | ETLIX           |

?xml version='1.0' encoding='ASCII'?

![(EVENTIDE LOGO)](ev001_v1.jpg)

Prospectus November 1, 2025 <br>

---

| | | | |
|:---|:---|:---|:---|
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Gilead Fund | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Gilead Fund | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Gilead Fund | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Gilead Fund |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;ETAGX | Class A Shares | ETCGX | Class C Shares |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;ETGLX | Class N Shares | ETILX | Class I Shares |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Healthcare & Life Sciences Fund | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Healthcare & Life Sciences Fund |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;ETAHX | Class A Shares | ETCHX | Class C Shares |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;ETNHX | Class N Shares | ETIHX | Class I Shares |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Balanced Fund | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Balanced Fund |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;ETAMX | Class A Shares | ETCMX | Class C Shares |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;ETNMX | Class N Shares | ETIMX | Class I Shares |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Dividend Growth Fund | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Dividend Growth Fund |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;ETADX | Class A Shares | ETCDX | Class C Shares |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;ETNDX | Class N Shares | ETIDX | Class I Shares |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Limited-Term Bond Fund | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Limited-Term Bond Fund |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;ETABX | Class A Shares | ETCBX | Class C Shares |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;ETNBX | Class N Shares | ETIBX | Class I Shares |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Exponential Technologies Fund | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Exponential Technologies Fund |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;ETAEX | Class A Shares | ETCEX | Class C Shares |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;ETNEX | Class N Shares | ETIEX | Class I Shares |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Core Bond Fund | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Core Bond Fund |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;ETARX | Class A Shares | ETCRX | Class C Shares |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;ETNRX | Class N Shares | ETIRX | Class I Shares |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Large Cap Focus Fund | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Large Cap Focus Fund |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;ETLAX | Class A Shares | ETLCX | Class C Shares |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;ETLNX | Class N Shares | ETLIX | Class I Shares |

---

This Prospectus provides important information about the Funds that you should know before investing. Please read it carefully and keep it for future reference. The Securities and Exchange Commission has not approved or disapproved these securities or determined if this Prospectus is truthful or complete. Any representation to the contrary is a criminal offense.

---

| | |
|:---|:---|
| **EVENTIDE** | **1** |
| **EVENTIDE** | **1** |

---

---

| | |
|:---|:---|
| **P r o s p e c t u s**  | **N o v e m b e r 1, 2 0 2 5** |

---

**Table of Contents**

---

| | |
|:---|:---|
| Eventide Gilead Fund Summary | 3.0 |
| Eventide Healthcare & Life Sciences Fund Summary | 11.0 |
| Eventide Balanced Fund Summary | 19.0 |
| Eventide Dividend Growth Fund Summary | 29.0 |
| Eventide Limited-Term Bond Fund Summary | 38.0 |
| Eventide Exponential Technologies Fund Summary | 48.0 |
| Eventide Core Bond Fund Summary | 58.0 |
| Eventide Large Cap Focus Fund Summary | 67.0 |
| Additional Information about Each Fund's Principal Investment Strategies and Related Risks | 77.0 |
| How to Buy Shares | 116.0 |
| How to Redeem Shares | 124.0 |
| Valuing Each Fund's Assets | 129.0 |
| Dividends, Distributions, & Taxes | 130.0 |
| Advisory Services of the Funds | 131.0 |
| Financial Highlights | 135.0 |
| Appendix A: Intermediary-Specific Sales Charge Reducations and Waivers | 167.0 |
| Privacy Notice: Mutual Fund Series Trust | 179.0 |
| For More Information | 181.0 |

---

---

| | |
|:---|:---|
| **EVENTIDE** | **2** |
| **EVENTIDE** | **2** |

---

---

| | |
|:---|:---|
| **P r o s p e c t u s**  | **N o v e m b e r 1, 2 0 2 5** |

---

<u>Eventide Gilead Fund</u> <u>Fund Summary</u>

**Investment Objective.**

The Eventide Gilead Fund (the "Gilead Fund" or the "Fund") seeks to provide long-term capital appreciation.

**Fees and Expenses of the Fund.**

The tables describe the fees and expenses that you may pay if you buy, hold, and sell shares of the Fund. **You may pay other fees, such as brokerage commissions and other fees to financial intermediaries, which are not reflected in the table and Example below.** You may qualify for sales charge discounts on purchases of Class A shares if you and your family invest, or agree to invest in the future, at least $50,000 in the Fund. More information about these and other discounts is available from your financial professional and is included in the section of the Fund's prospectus entitled **How to Buy Shares** on page 114 and **Appendix A – Intermediary-Specific Sales Charge Reductions and Waivers**, and in the sections of the Fund's Statement of Additional Information entitled **Reduction of Up-Front Sales Charge on Class A Shares** on page 70, and **Waivers of Up-Front Sales Charge on Class A Shares** on page 71.

---

| | | | | |
|:---|:---|:---|:---|:---|
| **Shareholder Fees***<br> Fees paid directly from your investment* | *Class A* | *Class C* | *Class N* | *Class I* |
| Maximum Sales Charge (Load) Imposed on Purchases (as a % of offering price) | 5.75% |  |  |  |
| Maximum Deferred Sales Charge (Load) (as a % of the lesser of the NAV of the shares redeemed or the original purchase price) | 1.00%<sup>1</sup> | 1.00%<sup>2</sup> |  |  |
| Maximum Sales Charge (Load) Imposed on Reinvested Dividends and other Distributions |  |  |  |  |
| Redemption Fee for Shares Redeemed by Wire Transfer | $15 | $15 | $15 | $15 |

---

---

| | | | | |
|:---|:---|:---|:---|:---|
| **Annual Fund Operating Expenses***<br>Expenses that you pay each year as a percentage of the value of your investment* | | | | |
| Management Fees<sup>3</sup> | 0.98% | 0.98% | 0.98% | 0.98% |
| Distribution and/or Service (12b-1) Fees | 0.25% | 1.00% | 0.20% |  |
| Other Expenses | 0.20% | 0.20% | 0.20% | 0.20% |
| Total Annual Fund Operating Expenses | 1.43% | 2.18% | 1.38% | 1.18% |

---

1. The
maximum deferred sales charge on Class A shares (as a % of NAV at the time of purchase) applies only to purchases of $250,000 or more
and applies to shares sold within 18 months of purchase.

2. The
maximum deferred sales charge on Class C shares (as a % of the lesser of NAV of the shares redeemed or the original purchase price) applies
to shares sold within 12 months of purchase.

3. Reflects
breakpoint in management fee based on Fund's asset level.

**Example of Hypothetical Fund Costs.**

This Example is intended to help you compare the cost of investing in the Fund with the cost of investing in other mutual funds.

The Example assumes that you invest $10,000 in the Fund for the time periods indicated and then redeem all of your shares at the end of those periods. The Example also assumes that your investment has a 5% return each year and that the Fund's operating expenses remain the same. Although your actual costs may be higher or lower, based on these assumptions your costs would be:

---

| | | | | |
|:---|:---|:---|:---|:---|
| | *1 Year* | *3 Years* | *5 Years* | *10 Years* |
| Class A | $713 | $1003 | $1314 | $2194 |
| Class C – no redemption | $221 | $683 | $1172 | $2518 |
| Class C - with redemption | $321 | $683 | $1172 | $2518 |
| Class N | $141 | $438 | $757 | $1662 |
| Class I | $121 | $376 | $651 | $1436 |

---

---

| | |
|:---|:---|
| **EVENTIDE** | **3** |
| **EVENTIDE** | **3** |

---

---

| | |
|:---|:---|
| **P r o s p e c t u s**  | **N o v e m b e r 1, 2 0 2 5** |

---

**Portfolio Turnover.**

The Fund pays transaction costs, such as commissions, when it buys and sells securities (or "turns over" its portfolio). A higher portfolio turnover rate may indicate higher transaction costs and may result in higher taxes when Fund shares are held in a taxable account. These costs, which are not reflected in annual fund operating expenses or in the Example, affect the Fund's performance. The portfolio turnover rate of the Fund for the fiscal year ended June 30, 2025, was 60% of the average value of its portfolio.

Principal Investment Strategies

Normally, the Gilead Fund invests primarily in a broad range of equity securities of any market capitalization. The Fund may invest without limitation in securities in companies domiciled outside the United States either directly or through American Depositary Receipts ("ADRs").

The Fund's investment adviser, Eventide Asset Management, LLC ("Eventide" or the "Adviser") analyzes the performance of potential investments not only for financial strength and outlook, but also for companies that are capable of serving well the needs of customers, employees, suppliers, communities, the environment and society broadly using the Adviser's faith-based screening criteria as more fully described below under "Faith-Based Screening." From time to time, the Fund may invest a substantial portion of its assets in the stock of companies in one or more sectors of the economy, such as the technology, industrial, healthcare and life sciences sectors. The Fund may invest in private companies and other issuers whose securities may have legal or contractual restrictions on resale or are otherwise illiquid ("Illiquid Investments"), which can impact their valuation. The Fund will not invest more than 15% of the Fund's net assets in Illiquid Investments. The Fund may invest in development stage companies. The Adviser may use options strategies, such as puts and covered calls on individual securities, as well as options on securities indices, to generate income, to reduce portfolio volatility, or to reduce downside risk when the Adviser believes adverse market, political or other conditions are likely. The Adviser may also utilize a combination of puts and/or calls on the same security (sometimes referred to as "straddles," "collars" or "spreads") or utilize puts and calls on related securities.

**Faith-Based Screening.** The Adviser uses its proprietary screening methodology to analyze all potential investments for the company's ability to operate with integrity and to create value for customers, employees, and other stakeholders by reflecting the values described below. The values assessed in the Adviser's screening process are inspired by the Christian faith and rooted in a biblical worldview. While few companies may reach these ideals in every area of their business, these principles articulate the Adviser's highest expectations for the companies in which the Fund invests. The Adviser uses its screening process in connection with other fundamental research processes to establish the Fund's eligible investment universe. Securities are generally ineligible within the Fund's portfolio unless the Adviser believes that the faith-based screens are met. If the Adviser's research identifies events and/or business changes suggesting that a portfolio company no longer meets the faith-based criteria, the Fund may hold the company's securities while the Adviser performs additional research, including possible direct engagement with the company to assess practices. The Adviser's faith-based screening process for potential investments does not apply relative weights between values-based factors and financial factors. There is no guarantee that the Adviser will be able to successfully screen out all companies that are inconsistent with the following principles which help to guide the Adviser's research and investment framework. Specifically, the Adviser seeks to invest in companies that reflect the following values:

&nbsp;&nbsp;&nbsp;&nbsp;■ Respecting
the value and freedom of all people: this includes the right to life at all stages and freedom from addictive behaviors caused by gambling,
pornography, tobacco, and alcohol.

---

| | |
|:---|:---|
| **EVENTIDE** | **4** |
| **EVENTIDE** | **4** |

---

---

| | |
|:---|:---|
| **P r o s p e c t u s**  | **N o v e m b e r 1, 2 0 2 5** |

---

&nbsp;&nbsp;&nbsp;&nbsp;■ Demonstrating
a concern for justice and peace: this includes fair and ethical relationships with customers, suppliers, and business partners and avoiding
products and services that promote weapons production and proliferation.

&nbsp;&nbsp;&nbsp;&nbsp;■ Promoting
 family and community: this includes protecting children from violent forms of entertainment
 and serving low-income communities.

&nbsp;&nbsp;&nbsp;&nbsp;■ Exhibiting
responsible management practices: this includes fair dealing with employees, communities, competitors, suppliers, and customers as demonstrated
by a company's record regarding litigation, regulatory actions against the company, and its record of providing products and services
that improve the lives of people.

&nbsp;&nbsp;&nbsp;&nbsp;■ Practicing
environmental stewardship: this includes practices considered more sustainable than those of industry peers, reduction in environmental
impact when compared to previous periods, and/or the use of more efficient and cleaner energy sources.

Consistent with the Adviser's values, the Fund may invest in domestic and/or foreign fixed-income securities, such as notes (including standalone notes not rated by any agency), to help fund community development institutions and projects aimed at serving human needs such as those of low-to-moderate income families and communities.

Securities may be sold when the Adviser believes that they no longer represent relatively attractive investment opportunities or when the Adviser believes the underlying company is no longer consistent with the Adviser's faith-based values.

Principal Risks of Investing in the Fund

As with any mutual fund, there is no guarantee that the Fund will achieve its objective. Investment markets are unpredictable and there will be certain market conditions where the Fund will not meet its investment objective and will lose money. The Fund's net asset value and returns will vary and you could lose money on your investment in the Fund and those losses could be significant.

The following summarizes the principal risks of investing in the Fund. These risks could adversely affect the net asset value, total return and the value of the Fund and your investment.

**ADRs Risk.** ADRs, which are typically issued by a bank, are certificates that evidence ownership of shares of a foreign company and are alternatives to purchasing foreign securities directly in their national markets and currencies. ADRs are subject to the same risks as direct investment in foreign companies and involve risks that are not found in investments in U.S. companies. Although an ADR is priced in U.S. dollars, movements in the exchange rate of the local currency versus the U.S. dollar are automatically reflected in the price of the ADR in U.S. dollars. Therefore, even if the price of the foreign security does not change on its market, if the exchange rate of the local currency relative to the U.S. dollar declines, the ADR price would decline by a similar measure.

**Development Stage Company Risk.** The Fund may invest a substantial portion of the portfolio in development stage companies that are not generating meaningful revenue.

---

| | |
|:---|:---|
| **EVENTIDE** | **5** |
| **EVENTIDE** | **5** |

---

---

| | |
|:---|:---|
| **P r o s p e c t u s**  | **N o v e m b e r 1, 2 0 2 5** |

---

**Equity Security Risk.** Common and preferred stocks are susceptible to general stock market fluctuations and to volatile increases and decreases in value as market confidence in and perceptions of their issuers change. Warrants and rights may expire worthless if the price of a common stock is below the conversion price of the warrant or right. Convertible bonds may decline in value if the price of a common stock falls below the conversion price. Investor perceptions are based on various and unpredictable factors, including expectations regarding government, economic, monetary and fiscal policies; inflation and interest rates; economic expansion or contraction and global or regional political, economic and banking crises.

**Ethical Investment Risk.** The Fund's ethical values screening criteria could cause it to underperform similar funds that do not have such screening criteria. This could be due to ethically acceptable companies falling out of favor with investors or failing to perform as well as companies that do not meet the Fund's ethical screening guidelines.

To supplement its efforts in ethical investing, the Adviser may engage with portfolio companies to encourage consideration of corporate strategies aligned with the Adviser's values, including pricing and/or business practices that may be beneficial within particular industries. The Adviser believes these activities will help promote ethical and effective corporate governance and long-term strategy for companies, and potentially create a positive effect on the particular businesses and/or industries, their consumers, and the Fund. There is no guarantee that the Adviser's corporate engagements and related-activities will achieve their intended results. There is a risk that the Adviser's activities in this regard could limit the Fund's investment universe and reduce the amount of profits that could be realized by affected companies, limiting the Fund's investment returns. Furthermore, the U.S. government or any agency thereof, may enact rules or legislation that, directly or indirectly, materially impacts the Adviser's activities in this regard, or materially affects the value of companies or opportunities for investment within particular industries.

**Foreign Securities Risk.** Since the Fund's investments may include ADRs and foreign securities, the Fund is subject to risks beyond those associated with investing in domestic securities. The value of foreign securities is subject to currency fluctuations. Foreign companies are generally not subject to the same regulatory requirements as U.S. companies thereby resulting in less publicly available information about these companies. In addition, foreign investing involves other risks not typically associated with U.S. investments, including adverse political, social and economic developments, less liquidity, greater volatility, less developed or less efficient trading markets, political instability and differing accounting, auditing, financial reporting and legal standards.

**Growth Stock Risk.** "Growth" stocks can react differently to issuer, political, market, and economic developments than the market as a whole and other types of stocks. "Growth" stocks also tend to be more expensive relative to their earnings or assets compared to other types of stocks. As a result, "growth" stocks tend to be sensitive to changes in their earnings and more volatile in price than the stock market as a whole. In addition, companies that the Adviser believes have significant growth potential are often companies with new, limited or cyclical product lines, markets or financial resources and the management of such companies may be dependent upon one or a few key people. The stocks of such companies can therefore be subject to more abrupt or erratic market movements than stocks of larger, more established companies or the stock market in general.

**Large Capitalization Company Risk.** Large capitalization companies may be less able than smaller capitalization companies to adapt to changing market conditions. Large capitalization companies may be more mature and subject to more limited growth potential compared with smaller capitalization companies. During different market cycles, the performance of large capitalization companies has trailed the overall performance of the broader securities markets.

---

| | |
|:---|:---|
| **EVENTIDE** | **6** |
| **EVENTIDE** | **6** |

---

---

| | |
|:---|:---|
| **P r o s p e c t u s**  | **N o v e m b e r 1, 2 0 2 5** |

---

**Liquidity Risk.** Some investments held by the Fund may be difficult to sell, or illiquid, particularly during times of market turmoil. Illiquid investments may also lack a readily observable or market-corroborated price and be difficult to value. If the Fund is forced to sell an illiquid asset to meet redemption requests or other cash needs, the Fund may be forced to sell at an unexpected loss.

**Management Risk.** The portfolio manager's judgments about the attractiveness, value and potential appreciation of particular securities in which the Fund invests may prove to be incorrect, and there is no guarantee that the portfolio manager's judgments will produce the desired results.

**Market Risk.** Overall stock or bond market volatility may also affect the value of the Fund. Factors such as domestic and/or foreign economic growth and market conditions, interest rate levels, political events and terrorism affect the securities markets.

**Medium (Mid) Capitalization Company Risk.** To the extent the Fund invests in the stocks of mid-sized companies, the Fund may be subject to additional risks. The earnings and prospects of these companies are more volatile than larger companies. These companies may experience higher failure rates than larger companies. Mid-sized companies normally have a lower trading volume than larger companies, which may tend to make their market price fall more disproportionately than larger companies in response to selling pressures. Mid-sized companies may also have limited markets, product lines or financial resources and may lack management experience.

**Options Market Risk.** Markets for options and options on futures may not always operate on a fair and orderly basis. At times, prices for options and options on futures may not represent fair market value and prices may be subject to manipulation, which may be extreme under some circumstances. The dysfunction and manipulation of volatility and options markets may make it difficult for the Fund to effectively implement its investment strategy and achieve its objectives and could potentially lead to significant losses.

**Options Risk.** As the seller (writer) of a covered call option, the Fund assumes the risk of a decline in the market price of the underlying security below the purchase price of the underlying security less the premium received and gives up the opportunity for gain on the underlying security above the exercise option price. As the buyer of a put or call option, the Fund risks losing the entire premium invested in the option if the Fund does not exercise the option. As the seller (writer) of a put option, the Fund will lose money if the value of the security falls below the strike price. The use of derivative instruments, such as options, involves risks different from, or possibly greater than, the risks associated with investing directly in securities and other traditional investments, including the risk that the counterparty to an options transaction may not fulfill its contractual obligations.

**Sector Exposure Risk.** The Fund may focus its investments in securities of a particular sector. Economic, legislative or regulatory developments may occur that significantly affect the sector. This may cause the Fund's net asset value to fluctuate more than that of a fund that does not focus in a particular sector.

---

| | |
|:---|:---|
| **EVENTIDE** | **7** |
| **EVENTIDE** | **7** |

---

---

| | |
|:---|:---|
| **P r o s p e c t u s**  | **N o v e m b e r 1, 2 0 2 5** |

---

***Healthcare & Life Sciences Sector Risk.*** Companies in the healthcare and life sciences sectors may be heavily dependent on clinical trials with uncertain outcomes and decisions made by the governments and regulatory authorities. Further, these companies are dependent on patent protection, and the expiration of patents may adversely affect the profitability of the companies. Additionally, the profitability of some healthcare and life sciences companies may be dependent on a relatively limited number of products, and their products can become obsolete due to sector innovation, changes in technologies or other market developments.

***Industrial Sector Risk.*** Industrial companies are affected by supply and demand both for their specific product or service and for industrial sector products in general. Government regulation, world events, exchange rates and economic conditions, technological developments and liabilities for environmental damage and general civil liabilities will likewise affect the performance of these companies.

***Technology Sector Risk.*** Technology companies face intense competition, both domestically and internationally, which may have an adverse effect on profit margins. Technology companies may have limited product lines, markets, financial resources or personnel. The products of technology companies may face obsolescence due to rapid technological developments and frequent new product introduction, unpredictable changes in growth rates and competition for the services of qualified personnel. Companies in the technology sector are heavily dependent on patent and intellectual property rights. The loss or impairment of these rights may adversely affect the profitability of these companies.

**Security Risk.** The value of the Fund may decrease in response to the activities and financial prospects of an individual security or group of securities in the Fund's portfolio. There can be no guarantee the securities held by the Fund will appreciate in value.

**Small Capitalization Company Risk.** Smaller-sized companies may experience higher failure rates than larger companies and normally have a lower trading volume than larger companies, which may tend to make their market price fall more disproportionately than larger companies in response to selling pressures and companies may have limited markets, product lines or financial resources and lack management experience.

**Stock Value Risk.** Stocks involve the risk that they may never reach what the Adviser believes is their full market value, either because the market fails to recognize the stock's intrinsic worth, or the Adviser misgauged that worth. Stocks also may decline in price, even though, in theory, they are already undervalued. Investments in private companies that lack readily observable or market-corroborated prices generally increase stock valuation risk because they are more difficult to value. Many private companies are not required to file periodic financial reports, leading to challenges in the Adviser's ability to evaluate a company's business prospects and the fair value of its securities. The fair valued prices assigned to the Fund's investments in private companies are based on a variety of factors, reviewed regularly, and updated as additional information becomes available. However, fair value pricing includes subjective judgments, and it is possible that the fair value assigned to a security may differ materially from the value the Fund would realize if the security were sold.

---

| | |
|:---|:---|
| **EVENTIDE** | **8** |
| **EVENTIDE** | **8** |

---

---

| | |
|:---|:---|
| **P r o s p e c t u s**  | **N o v e m b e r 1, 2 0 2 5** |

---

Performance

The bar chart and accompanying table shown below provide an indication of the risks of investing in the Fund. The bar chart shows the performance of the Fund's Class N shares for each of the last ten full calendar years. Although Class A, C, and I shares have similar annual returns to Class N shares because the classes are invested in the same portfolio of securities, the returns for Class A, C, and I shares are different from Class N shares because Class A, C, and I shares have different expenses than Class N shares. The performance table shows how the average returns of Class A, C, I and N shares compare over time with those of a broad-based market index and a supplemental index (strategy benchmark) that the Adviser believes is more representative of the Fund's investment universe. How the Fund has performed in the past (before and after taxes) is not necessarily an indication of how it will perform in the future. Updated performance information is available at no cost by calling 1-877-771-3836 and on the Fund's website at <u>www.eventidefunds.com</u>.

Eventide Gilead Class N Annual Total Returns for the Years Ended December 31

![(BAR GRAPH)](ev002_v1.jpg)

------

During the period shown in the bar chart, for Class N shares, the highest return for a quarter was 41.62% (quarter ended June 30, 2020), and the lowest return for a quarter was (20.09)% (quarter ended June 30, 2022). The Fund's Class N year-to-date return as of September 30, 2025, was 17.65%.

---

| | | | |
|:---|:---|:---|:---|
| **Average Annual Total Returns** *(periods ended December 31, 2024)* |  |  |  |
| *Class N Shares* | *1 Year* | *5 Years* | *10 Years* |
| Return Before Taxes | (0.22)% | 6.86% | 9.08% |
| Return After Taxes on Distributions | (0.51)% | 6.17% | 8.48% |
| Return After Taxes on Distributions and Sale of Fund Shares | 0.09% | 5.41% | 7.39% |
| *Class A Shares* | 1 Year | 5 Years | 10 Year |
| Return Before Taxes | (5.99)% | 5.56% | 8.38% |
| *Class C Shares* | 1 Year | 5 Years | 10 Years |
| Return Before Taxes | (2.00)% | 6.00% | 8.20% |
| *Class I Shares* |  |  |  |
| Return Before Taxes | (0.02)% | 7.07% | 9.30% |
| Bloomberg US 3000 Equal Weight Total Return Index (reflects no deduction for fees, expenses or taxes) | 11.89% | 8.10% | 7.95% |
| Bloomberg US Mid Cap Growth Total Return Index (reflects no deduction for fees, expenses or taxes) | 15.76% | 10.82% | 10.74% |

---

After-tax returns are calculated using the highest historical individual federal marginal income tax rate and do not reflect the impact of state and local taxes. Actual after-tax returns depend on a shareholder's tax situation and may differ from those shown. After-tax returns are not relevant for shareholders who hold Fund shares in tax-deferred accounts or to shares held by non-taxable entities. After-tax returns are only shown for Class N shares. After-tax returns for other share classes, which are not shown, will vary from those of Class N shares.

**Adviser.** Eventide Asset Management, LLC is the Fund's investment adviser.

---

| | |
|:---|:---|
| **EVENTIDE** | **9** |
| **EVENTIDE** | **9** |

---

---

| | |
|:---|:---|
| **P r o s p e c t u s**  | **N o v e m b e r 1, 2 0 2 5** |

---

**Portfolio Manager.** Dr. Finny Kuruvilla, Co-Chief Investment Officer and Senior Portfolio Manager of the Adviser, serves as Portfolio Manager of the Fund. Dr. Kuruvilla has served the Fund in this capacity since the Fund commenced operations in 2008.

**Purchase and Sale of Fund Shares.** The minimum initial investment in Class A, Class C and Class N Shares of the Fund, as well as Class I shares purchased directly from the Fund, is $1,000 for a regular account and for an IRA account, or $100 for an automatic investment plan account. The minimum initial investment in Class I shares purchased through a financial intermediary is $100,000 for all accounts. You may purchase and redeem shares of the Fund on any day that the New York Stock Exchange is open. Redemption requests may be made in writing, online, by telephone or through a financial intermediary to the Fund or the Fund's transfer agent and will be paid by check or wire transfer.

**Tax Information.** Dividends and capital gain distributions you receive from the Fund, whether you reinvest your distributions in additional Fund shares or receive them in cash, are taxable to you at either ordinary income or capital gains tax rates unless you are investing through a tax-deferred plan. If you are investing in a tax-deferred plan, distributions may be taxable upon withdrawal from the plan.

**Payments to Broker-Dealers and Other Financial Intermediaries.** If you purchase the Fund through a broker-dealer or other financial intermediary (such as a bank), the Fund and its related companies may pay the intermediary for the sale of Fund shares and related services. These payments may create a conflict of interest by influencing the broker-dealer or other intermediary and your salesperson to recommend the Fund over another investment. Ask your salesperson or visit your financial intermediary's website for more information.

---

| | |
|:---|:---|
| **EVENTIDE** | **10** |
| **EVENTIDE** | **10** |

---

---

| | |
|:---|:---|
| **P r o s p e c t u s**  | **N o v e m b e r 1, 2 0 2 5** |

---

<u>Eventide Healthcare & Life Sciences Fund</u> <u>Fund Summary</u>

**Investment Objective.**

The Eventide Healthcare & Life Sciences Fund (the "Healthcare & Life Sciences Fund" or the "Fund") seeks to achieve long-term capital appreciation.

**Fees and Expenses of the Fund.**

The tables describe the fees and expenses that you may pay if you buy, hold, and sell shares of the Fund. **You may pay other fees, such as brokerage commissions and other fees to financial intermediaries, which are not reflected in the table and Example below.** You may qualify for sales charge discounts on purchases of Class A shares if you and your family invest, or agree to invest in the future, at least $50,000 in the Fund. More information about these and other discounts is available from your financial professional and is included in the section of the Fund's prospectus entitled **How to Buy Shares** on page 114 and **Appendix A – Intermediary-Specific Sales Charge Reductions and Waivers**, and in the sections of the Fund's Statement of Additional Information entitled **Reduction of Up-Front Sales Charge on Class A Shares** on page 70, and **Waivers of Up-Front Sales Charge on Class A Shares** on page 71.

---

| | | | | |
|:---|:---|:---|:---|:---|
| **Shareholder Fees***<br> Fees paid directly from your investment* | *Class A* | *Class C* | *Class N* | *Class I* |
| Maximum Sales Charge (Load) Imposed on Purchases (as a % of offering price) | 5.75% |  |  |  |
| Maximum Deferred Sales Charge (Load)(as a % of the lesser of the NAV of the shares redeemed or the original purchase price) | 1.00%<sup>1</sup> | 1.00%<sup>2</sup> |  |  |
| Maximum Sales Charge (Load) Imposed on Reinvested Dividends and other Distributions |  |  |  |  |
| Redemption Fee for Shares Redeemed by Wire Transfer | $15 | $15 | $15 | $15 |

---

---

| | | | | |
|:---|:---|:---|:---|:---|
| **Annual Fund Operating Expenses***<br> Expenses that you pay each year as a percentage of the value of your investment* | | | | |
| Management Fees | 1.10% | 1.10% | 1.10% | 1.10% |
| Distribution and/or Service (12b-1) Fees | 0.25% | 1.00% | 0.20% |  |
| Other Expenses | 0.21% | 0.21% | 0.21% | 0.21% |
| Total Annual Fund Operating Expenses | 1.56% | 2.31% | 1.51% | 1.31% |

---

1. The
maximum deferred sales charge on Class A shares (as a % of NAV at the time of purchase) applies only to purchases of $250,000 or more
and applies to shares sold within 18 months of purchase.

2. The
maximum deferred sales charge on Class C shares (as a % of the lesser of NAV of the shares redeemed or the original purchase price) applies
to shares sold within 12 months of purchase.

**Example of Hypothetical Fund Costs.**

This Example is intended to help you compare the cost of investing in the Fund with the cost of investing in other mutual funds.

The Example assumes that you invest $10,000 in the Fund for the time periods indicated and then redeem all of your shares at the end of those periods. The Example also assumes that your investment has a 5% return each year and that the Fund's operating expenses remain the same. Although your actual costs may be higher or lower, based on these assumptions your costs would be:

---

| | | | | |
|:---|:---|:---|:---|:---|
| | *1 Year* | *3 Years* | *5 Years* | *10 Years* |
| Class A | $725 | $1039 | $1376 | $2325 |
| Class C – no redemption | $234 | $721 | $1235 | $2646 |
| Class C – with redemption | $334 | $721 | $1235 | $2646 |
| Class N | $154 | $477 | $824 | $1802 |
| Class I | $133 | $415 | $718 | $1579 |

---

---

| | |
|:---|:---|
| **EVENTIDE** | **11** |
| **EVENTIDE** | **11** |

---

---

| | |
|:---|:---|
| **P r o s p e c t u s**  | **N o v e m b e r 1, 2 0 2 5** |

---

**Portfolio Turnover.**

The Fund pays transaction costs, such as commissions, when it buys and sells securities (or "turns over" its portfolio). A higher portfolio turnover rate may indicate higher transaction costs and may result in higher taxes when Fund shares are held in a taxable account. These costs, which are not reflected in annual fund operating expenses or in the Example, affect the Fund's performance. The portfolio turnover rate of the Fund for the fiscal year ended June 30, 2025, was 41% of the average value of its portfolio.

Principal Investment Strategies

Under normal market conditions, the Fund invests at least 80% of its net assets (plus borrowings for investment purposes) in equity and equity-related securities of companies in the healthcare and life sciences sectors, including common stock, options, preferred stock and convertible debt. Healthcare and life sciences companies include those companies that derive or are expected to derive 50% or more of their revenue from healthcare and life science products and services including, but not limited to, biotechnology, pharmaceuticals, diagnostics, life science tools, medical devices, healthcare information technology, healthcare services, synthetic biology, agricultural and environmental management, and pharmaceutical manufacturing products and services. These companies may include private and other companies whose securities may have legal or contractual restrictions on resale or are otherwise illiquid ("Illiquid Investments"), which can impact their valuation. The Fund will not invest more than 15% of the Fund's net assets in Illiquid Investments. These companies may include development stage companies. The Fund may invest without limitation in securities of companies domiciled outside the United States either directly or through American Depositary Receipts ("ADRs"). The Fund may invest in securities of companies of any market capitalization.

The Fund's investment adviser, Eventide Asset Management, LLC ("Eventide" or the "Adviser") utilizes a fundamental "bottom-up" analysis to evaluate investments for inclusion in the Fund's portfolio. The Adviser seeks to invest in attractively valued securities that, in its opinion, represent above-average long-term investment opportunities or have significant near-term appreciation potential and that are capable of serving well the needs of customers, employees, suppliers, communities, the environment, and society broadly using the Adviser's faith-based screening criteria as more fully described below under "Faith-Based Screening." The Adviser favors investments that it believes will have relatively low correlation to the overall market. The valuation of these investments may respond dramatically to clinical trial outcomes or regulatory decisions, providing atypical upside or downside volatility.

The Adviser uses options strategies, such as calls, covered calls, and puts on individual securities, as well as options on securities indices, to enhance returns, generate income, to reduce portfolio volatility, or to reduce downside risk when the Adviser believes adverse market, political or other conditions are likely. The Adviser may also utilize a combination of puts and/or calls on the same security (sometimes referred to as "straddles," "collars" or "spreads") or utilize puts and calls on related securities. The Adviser only makes use of these derivative strategies where the derivatives' underlying security is within or related to the sectors in which the Fund normally invests.

---

| | |
|:---|:---|
| **EVENTIDE** | **12** |
| **EVENTIDE** | **12** |

---

---

| | |
|:---|:---|
| **P r o s p e c t u s**  | **N o v e m b e r 1, 2 0 2 5** |

---

The Fund concentrates investments in drug-related industries by investing, under normal circumstances, over 25% of its assets in drug-related industries. This group of industries includes pharmaceutical, biotech and similar companies that primarily develop, produce or distribute drugs, medicines, diagnostic chemicals and biological products used to diagnose, prevent or treat diseases or maintain health.

**Faith-Based Screening.** The Adviser uses its proprietary screening methodology to analyze all potential investments for the company's ability to operate with integrity and to create value for customers, employees, and other stakeholders by reflecting the values described below. The values assessed in the Adviser's screening process are inspired by the Christian faith and rooted in a biblical worldview. While few companies may reach these ideals in every area of their business, these principles articulate the Adviser's highest expectations for the companies in which the Fund invests. The Adviser uses its screening process in connection with other fundamental research processes to establish the Fund's eligible investment universe. Securities are generally ineligible within the Fund's portfolio unless the Adviser believes that the faith-based screens are met. If the Adviser's research identifies events and/or business changes suggesting that a portfolio company no longer meets the faith-based criteria, the Fund may hold the company's securities while the Adviser performs additional research, including possible direct engagement with the company to assess practices. The Adviser's faith-based screening process for potential investments does not apply relative weights between values-based factors and financial factors. There is no guarantee that the Adviser will be able to successfully screen out all companies that are inconsistent with the following principles which help to guide the Adviser's research and investment framework. Specifically, the Adviser seeks to invest in companies that reflect the following values:

&nbsp;&nbsp;&nbsp;&nbsp;■ Respecting
the value and freedom of all people: this includes the right to life at all stages and freedom from addictive behaviors caused by gambling,
pornography, tobacco, and alcohol.

&nbsp;&nbsp;&nbsp;&nbsp;■ Demonstrating
a concern for justice and peace: this includes fair and ethical relationships with customers, suppliers, and business partners and avoiding
products and services that promote weapons production and proliferation.

&nbsp;&nbsp;&nbsp;&nbsp;■ Promoting
family and community: this includes protecting children from violent forms of entertainment and serving low-income communities.

&nbsp;&nbsp;&nbsp;&nbsp;■ Exhibiting
responsible management practices: this includes fair dealing with employees, communities, competitors, suppliers, and customers as demonstrated
by a company's record regarding litigation, regulatory actions against the company, and its record of providing products and services
that improve the lives of people.

&nbsp;&nbsp;&nbsp;&nbsp;■ Practicing
environmental stewardship: this includes practices considered more sustainable than those of industry peers, reduction in environmental
impact when compared to previous periods, and/or the use of more efficient and cleaner energy sources.

Consistent with the Adviser's values, the Fund may invest in domestic and/or foreign fixed-income securities, such as notes (including standalone notes not rated by any agency), to help fund community development institutions and projects aimed at serving human needs such as those of low-to-moderate income families and communities.

Securities may be sold when the Adviser believes that they no longer represent relatively attractive investment opportunities or when the Adviser believes the underlying company's practices are no longer consistent with the Adviser's faith-based values.

Principal Risks of Investing in the Fund

As with any mutual fund, there is no guarantee that the Fund will achieve its objective. Investment markets are unpredictable and there will be certain market conditions where the Fund will not meet its investment objective and will lose money. The Fund's net asset value and returns will vary, and you could lose money on your investment in the Fund and those losses could be significant.

---

| | |
|:---|:---|
| **EVENTIDE** | **13** |
| **EVENTIDE** | **13** |

---

---

| | |
|:---|:---|
| **P r o s p e c t u s**  | **N o v e m b e r 1, 2 0 2 5** |

---

The following summarizes the principal risks of investing in the Fund. These risks could adversely affect the net asset value, total return and the value of the Fund and your investment.

**ADRs Risk.** ADRs, which are typically issued by a bank, are certificates that evidence ownership of shares of a foreign company and are alternatives to purchasing foreign securities directly in their national markets and currencies. ADRs are subject to the same risks as direct investment in foreign companies and involve risks that are not found in investments in U.S. companies. Although an ADR is priced in U.S. dollars, movements in the exchange rate of the local currency versus the U.S. dollar are automatically reflected in the price of the ADR in U.S. dollars. Therefore, even if the price of the foreign security does not change on its market, if the exchange rate of the local currency relative to the U.S. Dollar declines, the ADR price would decline by a similar measure.

**Development Stage Company Risk.** The Fund may invest a substantial portion of the portfolio in development stage companies that are not generating meaningful revenue.

**Equity Security Risk.** Common and preferred stocks are susceptible to general stock market fluctuations and to volatile increases and decreases in value as market confidence in and perceptions of their issuers change. Warrants and rights may expire worthless if the price of a common stock is below the conversion price of the warrant or right. Convertible bonds may decline in value if the price of a common stock falls below the conversion price. Investor perceptions are based on various and unpredictable factors, including expectations regarding government, economic, monetary and fiscal policies; inflation and interest rates; economic expansion or contraction and global or regional political, economic and banking crises.

**Ethical Investment Risk.** The Fund's ethical values screening criteria could cause it to underperform similar funds that do not have such screening criteria. This could be due to ethically acceptable companies falling out of favor with investors or failing to perform as well as companies that do not meet the Fund's ethical screening guidelines.

To supplement its efforts in ethical investing, the Adviser may engage with portfolio companies to encourage consideration of corporate strategies aligned with the Adviser's values, including pricing and/or business practices that may be beneficial within particular industries. The Adviser believes these activities will help promote ethical and effective corporate governance and long-term strategy for companies, and potentially create a positive effect on the particular businesses and/or industries, their consumers, and the Fund. There is no guarantee that the Adviser's corporate engagements and related-activities will achieve their intended results. There is a risk that the Adviser's activities in this regard could limit the Fund's investment universe and reduce the amount of profits that could be realized by affected companies, limiting the Fund's investment returns. Furthermore, the U.S. government or any agency thereof, may enact rules or legislation that, directly or indirectly, materially impacts the Adviser's activities in this regard, or materially affects the value of companies or opportunities for investment within particular industries.

**Foreign Securities Risk.** Since the Fund's investments may include ADRs and foreign securities, the Fund is subject to risks beyond those associated with investing in domestic securities. The value of foreign securities is subject to currency fluctuations. Foreign companies are generally not subject to the same regulatory requirements as U.S. companies thereby resulting in less publicly available information about these companies. In addition, foreign investing involves other risks not typically associated with U.S. investments, including adverse political, social and economic developments, less liquidity, greater volatility, less developed or less efficient trading markets, political instability and differing accounting, auditing, financial reporting and legal standards.

---

| | |
|:---|:---|
| **EVENTIDE** | **14** |
| **EVENTIDE** | **14** |

---

---

| | |
|:---|:---|
| **P r o s p e c t u s**  | **N o v e m b e r 1, 2 0 2 5** |

---

**Growth Stock Risk.** "Growth" stocks can react differently to issuer, political, market, and economic developments than the market as a whole and other types of stocks. "Growth" stocks also tend to be more expensive relative to their earnings or assets compared to other types of stocks. As a result, "growth" stocks tend to be sensitive to changes in their earnings and more volatile in price than the stock market as a whole. In addition, companies that the Adviser believes have significant growth potential are often companies with new, limited or cyclical product lines, markets or financial resources and the management of such companies may be dependent upon one or a few key people. The stocks of such companies can therefore be subject to more abrupt or erratic market movements than stocks of larger, more established companies or the stock market in general.

**Industry Concentration Risk.** The Fund may be susceptible to an increased risk of loss, including losses due to adverse occurrences affecting the Fund more than the market as a whole, because the Fund's investments are concentrated in the drug-related industries.

**Large Capitalization Company Risk.** Large capitalization companies may be less able than smaller capitalization companies to adapt to changing market conditions. Large capitalization companies may be more mature and subject to more limited growth potential compared with smaller capitalization companies. During different market cycles, the performance of large capitalization companies has trailed the overall performance of the broader securities markets.

**Liquidity Risk.** Some investments held by the Fund may be difficult to sell, or illiquid, particularly during times of market turmoil. Illiquid investments may also lack a readily observable or market-corroborated price and be difficult to value. If the Fund is forced to sell an illiquid asset to meet redemption requests or other cash needs, the Fund may be forced to sell at an unexpected loss.

**Management Risk.** The portfolio managers' judgments about the attractiveness, value and potential appreciation of particular securities in which the Fund invests may prove to be incorrect, and there is no guarantee that the portfolio managers' judgments will produce the desired results.

**Market Risk.** Overall stock or bond market volatility may also affect the value of the Fund. Factors such as domestic and/or foreign economic growth and market conditions, interest rate levels, political events and terrorism affect the securities markets.

**Medium (Mid) Capitalization Company Risk.** To the extent the Fund invests in the stocks of mid-sized companies, the Fund may be subject to additional risks. The earnings and prospects of these companies are more volatile than larger companies. These companies may experience higher failure rates than larger companies. Mid-sized companies normally have a lower trading volume than larger companies, which may tend to make their market price fall more disproportionately than larger companies in response to selling pressures. Mid-sized companies may also have limited markets, product lines or financial resources and may lack management experience.

**Options Market Risk.** Markets for options and options on futures may not always operate on a fair and orderly basis. At times, prices for options and options on futures may not represent fair market value and prices may be subject to manipulation, which may be extreme under some circumstances. The dysfunction and manipulation of volatility and options markets may make it difficult for the Fund to effectively implement its investment strategy and achieve its objectives and could potentially lead to significant losses.

---

| | |
|:---|:---|
| **EVENTIDE** | **15** |
| **EVENTIDE** | **15** |

---

---

| | |
|:---|:---|
| **P r o s p e c t u s**  | **N o v e m b e r 1, 2 0 2 5** |

---

**Options Risk.** As the seller (writer) of a covered call option, the Fund assumes the risk of a decline in the market price of the underlying security below the purchase price of the underlying security less the premium received and gives up the opportunity for gain on the underlying security above the exercise option price because the Fund will no longer hold the underlying security. As the buyer of a put or call option, the Fund risks losing the entire premium invested in the option if the Fund does not exercise the option. As the seller (writer) of a put option, the Fund will lose money if the value of the security falls below the strike price. The use of derivative instruments, such as options, involves risks different from, or possibly greater than, the risks associated with investing directly in securities and other traditional investments, including the risk that the counterparty to an options transaction may not fulfill its contractual obligations.

**Sector Exposure Risk.** The Fund may focus its investments in securities of a particular sector. Economic, legislative or regulatory developments may occur that significantly affect the sector. This may cause the Fund's net asset value to fluctuate more than that of a fund that does not focus in a particular sector.

***Healthcare & Life Sciences Sector Risk.*** Companies in the healthcare and life sciences sectors may be heavily dependent on clinical trials with uncertain outcomes and decisions made by the governments and regulatory authorities. Further, these companies are dependent on patent protection, and the expiration of patents may adversely affect the profitability of the companies. Additionally, the profitability of some healthcare and life sciences companies may be dependent on a relatively limited number of products, and their products can become obsolete due to sector innovation, changes in technologies or other market developments.

**Security Risk.** The value of the Fund may decrease in response to the activities and financial prospects of an individual security or group of securities in the Fund's portfolio. There can be no guarantee the securities held by the Fund will appreciate in value.

**Small Capitalization Company Risk.** Smaller-sized companies may experience higher failure rates than larger companies and normally have a lower trading volume than larger companies, which may tend to make their market price fall more disproportionately than larger companies in response to selling pressures and companies may have limited markets, product lines or financial resources and lack management experience.

**Stock Value Risk.** Stocks involve the risk that they may never reach what the Adviser believes is their full market value, either because the market fails to recognize the stock's intrinsic worth, or the Adviser misgauged that worth. Stocks also may decline in price, even though, in theory, they are already undervalued. Investments in private companies that lack readily observable or market-corroborated prices generally increase stock valuation risk because they are more difficult to value. Many private companies are not required to file periodic financial reports, leading to challenges in the Adviser's ability to evaluate a company's business prospects and the fair value of its securities. The fair valued prices assigned to the Fund's investments in private companies are based on a variety of factors, reviewed regularly, and updated as additional information becomes available. However, fair value pricing includes subjective judgments, and it is possible that the fair value assigned to a security may differ materially from the value the Fund would realize if the security were sold.

---

| | |
|:---|:---|
| **EVENTIDE** | **16** |
| **EVENTIDE** | **16** |

---

---

| | |
|:---|:---|
| **P r o s p e c t u s**  | **N o v e m b e r 1, 2 0 2 5** |

---

Performance

The bar chart and accompanying table shown below provide an indication of the risks of investing in the Fund. The bar chart shows the performance of the Fund's Class A shares for each of the last ten full calendar years. Although Class C, N and I shares have similar annual returns to Class A shares because the classes are invested in the same portfolio of securities, the returns for Class C, N, and I shares are different from Class A shares because Class C, N and I shares have different expenses than Class A shares. The performance table shows how the average annual returns of Class A, C, I and N shares compare over time with those of a broad-based market index and a supplemental index (strategy benchmark) that the Adviser believes is more representative of the Fund's investment universe. How the Fund has performed in the past (before and after taxes) is not necessarily an indication of how it will perform in the future. Updated performance information is available at no cost by calling 1-877-771-3836 and on the Fund's website at <u>www.eventidefunds.com</u>.

Eventide Healthcare & Life Sciences Class A Annual Total Returns for the Years Ended December 31

![(BAR GRAPH)](ev003_v1.jpg)

Figures do not reflect sales charges. If they did, returns would be lower.

During the period shown in the bar chart, for Class A shares, the highest return for a quarter was 46.37% (quarter ended December 31, 2019), and the lowest return for a quarter was (24.43)% (quarter ended December 31, 2018). The Fund's Class A year-to-date return as of September 30, 2025, was 24.25%.

---

| | | | |
|:---|:---|:---|:---|
| **Average Annual Total Returns** *(periods ended December 31, 2024)* | | | |
| *Class A Shares* | *1 Year* | *5 Years* | *10 Years* |
| Return Before Taxes | (15.51)% | (3.12)% | 6.53% |
| Return After Taxes on Distributions | (15.51)% | (3.82)% | 5.77% |
| Return After Taxes on Distributions and Sale of Fund Shares | (9.18)% | (2.28)% | 5.17% |
| *Class C Shares* | | | |
| Return Before Taxes | (11.91)% | (2.70)% | 6.36% |
| *Class N Shares* | | | |
| Return Before Taxes | (10.31)% | (1.92)% | 7.22% |
| *Class I Shares* | | | |
| Return Before Taxes | (10.13)% | (1.73)% | 7.43% |
| Bloomberg US 3000 Equal Weight Total Return Index (reflects no deduction for fees, expenses or taxes) | 11.89% | 8.10% | 7.95% |
| S&P Biotechnology Select Industry Index (reflects no deduction for fees, expenses or taxes) | 1.18% | (0.89)% | 3.98% |

---

---

| | |
|:---|:---|
| **EVENTIDE** | **17** |
| **EVENTIDE** | **17** |

---

---

| | |
|:---|:---|
| **P r o s p e c t u s**  | **N o v e m b e r 1, 2 0 2 5** |

---

After-tax returns are calculated using the highest historical individual federal marginal income tax rate and do not reflect the impact of state and local taxes. Actual after-tax returns depend on a shareholder's tax situation and may differ from those shown. After-tax returns are not relevant for shareholders who hold Fund shares in tax-deferred accounts or to shares held by non-taxable entities. After-tax returns are only shown for Class A shares. After-tax returns for other share classes, which are not shown, will vary from those of Class A shares.

**Adviser.** Eventide Asset Management, LLC is the Fund's investment adviser.

**Portfolio Manager**. Dr. Finny Kuruvilla, Co-Chief Investment Officer and Senior Portfolio Manager of the Adviser, and Dr. I-hung Shih, Portfolio Manager of the Adviser, serve as Portfolio Managers of the Fund and are primarily responsible for the day-to-day management of the Fund's portfolio. Dr. Kuruvilla is the Lead Portfolio Manager of the Fund. Dr. Kuruvilla has served the Fund as a Portfolio Manager since the Fund commenced operations in 2012. Dr. Shih has served the Fund as a Co-Portfolio Manager since September 2024.

**Purchase and Sale of Fund Shares.** The minimum initial investment in Class A, Class C and Class N Shares of the Fund, as well as Class I shares purchased directly from the Fund, is $1,000 for a regular account and for an IRA account, or $100 for an automatic investment plan account. The minimum initial investment in Class I shares purchased through a financial intermediary is $100,000 for all accounts. You may purchase and redeem shares of the Fund on any day that the New York Stock Exchange is open. Redemptions requests may be made in writing, online, by telephone or through a financial intermediary to the Fund or the Fund's transfer agent and will be paid by check or wire transfer.

**Tax Information.** Dividends and capital gain distributions you receive from the Fund, whether you reinvest your distributions in additional Fund shares or receive them in cash, are taxable to you at either ordinary income or capital gains tax rates unless you are investing through a tax-deferred plan. If you are investing in a tax-deferred plan, distributions may be taxable upon withdrawal from the plan.

**Payments to Broker-Dealers and Other Financial Intermediaries.** If you purchase the Fund through a broker-dealer or other financial intermediary (such as a bank), the Fund and its related companies may pay the intermediary for the sale of Fund shares and related services. These payments may create a conflict of interest by influencing the broker-dealer or other intermediary and your salesperson to recommend the Fund over another investment. Ask your salesperson or visit your financial intermediary's website for more information.

---

| | |
|:---|:---|
| **EVENTIDE** | **18** |
| **EVENTIDE** | **18** |

---

---

| | |
|:---|:---|
| **P r o s p e c t u s**  | **N o v e m b e r 1, 2 0 2 5** |

---

<u>Eventide Balanced Fund</u> <u>Fund Summary</u>

**Investment Objective.**

The Eventide Balanced Fund (the "Balanced Fund" or the "Fund") seeks current income while maintaining the potential for capital appreciation.

**Fees and Expenses of the Fund.**

The tables describe the fees and expenses that you may pay if you buy, hold, and sell shares of the Fund. **You may pay other fees, such as brokerage commissions and other fees to financial intermediaries, which are not reflected in the table and Example below.** You may qualify for sales charge discounts on purchases of Class A shares if you and your family invest, or agree to invest in the future, at least $50,000 in the Fund. More information about these and other discounts is available from your financial professional and is included in the section of the Fund's prospectus entitled **How to Buy Shares** on page 114 and **Appendix A – Intermediary-Specific Sales Charge Reductions and Waivers**, and in the sections of the Fund's Statement of Additional Information entitled **Reduction of Up-Front Sales Charge on Class A Shares** on page 70, and **Waivers of Up-Front Sales Charge on Class A Shares** on page 71.

---

| | | | | |
|:---|:---|:---|:---|:---|
| **Shareholder Fees***<br> Fees paid directly from your investment* | *Class A* | *Class C* | *Class N* | *Class I* |
| Maximum Sales Charge<br> (Load) Imposed on Purchases (as a % of offering price) | 5.75% |  |  |  |
| Maximum Deferred Sales Charge (Load) <br> (as a % of the lesser of the NAV of the shares redeemed or the original purchase price) | 1.00%<sup>1</sup> | 1.00%<sup>2</sup> |  |  |
| Maximum Sales Charge (Load) Imposed <br> on Reinvested Dividends and other Distributions |  |  |  |  |
| Redemption Fee for Shares Redeemed by Wire Transfer | $15 | $15 | $15 | $15 |

---

---

| | | | | |
|:---|:---|:---|:---|:---|
| **Annual Fund Operating Expenses***<br> Expenses that you pay each year as a percentage of the value of your investment* | | | | |
| Management Fees | 0.60% | 0.60% | 0.60% | 0.60% |
| Distribution and/or Service (12b-1) Fees | 0.25% | 1.00% | 0.20% |  |
| Other Expenses | 0.22% | 0.22% | 0.22% | 0.22% |
| Total Annual Fund Operating Expenses | 1.07% | 1.82% | 1.02% | 0.82% |

---

1. The
maximum deferred sales charge on Class A shares (as a % of NAV at the time of purchase) applies only to purchases of $250,000 or more
and applies to shares sold within 18 months of purchase.

2. The
maximum deferred sales charge on Class C shares (as a % of the lesser of NAV of the shares redeemed or the original purchase price) applies
to shares sold within 12 months of purchase.

**Example of Hypothetical Fund Costs.**

This Example is intended to help you compare the cost of investing in the Fund with the cost of investing in other mutual funds.

The Example assumes that you invest $10,000 in the Fund for the time periods indicated and then hold or redeem all of your shares at the end of those periods. The Example also assumes that your investment has a 5% return each year and that the Fund's operating expenses remain the same. Although your actual costs may be higher or lower, based on these assumptions your costs would be:

---

| | | | | |
|:---|:---|:---|:---|:---|
| | 1 Year | 3 Years | 5 Years | 10 Years |
| Class A | $678 | $896 | $1132 | $1808 |
| Class C – no redemption | $185 | $573 | $986 | $2139 |
| Class C – with redemption | $285 | $573 | $986 | $2139 |
| Class N | $104 | $325 | $564 | $1250 |
| Class I | $84 | $262 | $456 | $1016 |

---

---

| | |
|:---|:---|
| **EVENTIDE** | **19** |
| **EVENTIDE** | **19** |

---

---

| | |
|:---|:---|
| **P r o s p e c t u s**  | **N o v e m b e r 1, 2 0 2 5** |

---

**Portfolio Turnover.**

The Fund pays transaction costs, such as commissions, when it buys and sells securities (or "turns over" its portfolio). A higher portfolio turnover rate may indicate higher transaction costs and may result in higher taxes when Fund shares are held in a taxable account. These costs, which are not reflected in annual fund operating expenses or in the Example, affect the Fund's performance. The portfolio turnover rate of the Fund for the fiscal year ended June 30, 2025, was 55% of the average value of its portfolio.

Principal Investment Strategies

The Fund has significant flexibility to achieve its investment objective by primarily investing in a broad universe of income-producing securities. These securities include debt and equity securities of companies in the U.S. and other markets around the world. The Fund's investments in foreign securities may be made, without limitation, directly or through American Depository Receipts ("ADRs").

The Fund's investment adviser, Eventide Asset Management, LLC ("Eventide" or the "Adviser"), utilizes a fundamental "bottom-up" analysis to evaluate investments for inclusion in the Fund's portfolio. The Adviser seeks to invest in attractively valued securities that, in its opinion, represent above-average long-term investment opportunities. The Adviser favors investments that it believes will have relatively lower correlation or volatility to the overall market. The Adviser seeks to invest in securities that, in its opinion, are attractively valued, provide attractive current income, provide income appreciation potential, provide capital appreciation potential, and/or help to reduce overall portfolio volatility.

---

| | |
|:---|:---|
| **EVENTIDE** | **20** |
| **EVENTIDE** | **20** |

---

---

| | |
|:---|:---|
| **P r o s p e c t u s**  | **N o v e m b e r 1, 2 0 2 5** |

---

The Adviser may use options, such as puts or calls on individual securities, as well as options on securities indices, to enhance returns, generate income, to reduce portfolio volatility, or to reduce downside risk when the Adviser believes prudent. To enhance income, the Adviser has the ability to sell call options on stocks held in the portfolio (covered call writing). In exchange for the option premium received, the Fund gives up potential upside in the underlying stock. The Adviser also has the ability to write put options on stocks deemed to be attractive purchases at lower price levels. The Adviser may also utilize a combination of puts and/or calls regarding the same security (sometimes referred to as "straddles," "collars" or "spreads") or utilize puts and calls on related securities.

The Adviser has retained Boyd Watterson Asset Management, LLC (the "Sub-Adviser") to manage some of the Fund's assets allocated for investment in the fixed income portion of the Fund's portfolio. In selecting securities for investment by the Fund, the Sub-Adviser employs a top-down approach to determine how to structure the bond allocation taking into consideration duration, maturity, and sector allocation. The Sub-Adviser then initiates a process of security analysis based on several factors including, but not limited to, economic trends, industry assessments and issuer specific credit fundamentals.

**Faith-Based Screening.** The Adviser uses its proprietary screening methodology to analyze all potential investments for the company's ability to operate with integrity and to create value for customers, employees, and other stakeholders by reflecting the values described below. The values assessed in the Adviser's screening process are inspired by the Christian faith and rooted in a biblical worldview. While few companies may reach these ideals in every area of their business, these principles articulate the Adviser's highest expectations for the companies in which the Fund invests. The Adviser uses its screening process in connection with other fundamental research processes to establish the Fund's eligible investment universe. Securities are generally ineligible within the Fund's portfolio unless the Adviser believes that the faith-based screens are met. If the Adviser's research identifies events and/or business changes suggesting that a portfolio company no longer meets the faith-based criteria, the Fund may hold the company's securities while the Adviser performs additional research, including possible direct engagement with the company to assess practices. The Adviser's faith-based screening process for potential investments does not apply relative weights between values-based factors and financial factors. There is no guarantee that the Adviser will be able to successfully screen out all companies that are inconsistent with the following principles which help to guide the Adviser's research and investment framework. Specifically, the Adviser seeks to invest in companies that reflect the following values:

&nbsp;&nbsp;&nbsp;&nbsp;■ Respecting
the value and freedom of all people: this includes the right to life at all stages and freedom from addictive behaviors caused by gambling,
pornography, tobacco, and alcohol.

&nbsp;&nbsp;&nbsp;&nbsp;■ Demonstrating
a concern for justice and peace: this includes fair and ethical relationships with customers, suppliers, and business partners and avoiding
products and services that promote weapons production and proliferation.

&nbsp;&nbsp;&nbsp;&nbsp;■ Promoting
family and community: this includes protecting children from violent forms of entertainment and serving low-income communities.

&nbsp;&nbsp;&nbsp;&nbsp;■ Exhibiting
responsible management practices: this includes fair dealing with employees, communities, competitors, suppliers, and customers as demonstrated
by a company's record regarding litigation, regulatory actions against the company, and its record of providing products and services
that improve the lives of people.

---

| | |
|:---|:---|
| **EVENTIDE** | **21** |
| **EVENTIDE** | **21** |

---

---

| | |
|:---|:---|
| **P r o s p e c t u s**  | **N o v e m b e r 1, 2 0 2 5** |

---

&nbsp;&nbsp;&nbsp;&nbsp;■ Practicing
environmental stewardship: this includes practices considered more sustainable than those of industry peers, reduction in environmental
impact when compared to previous periods, and/or the use of more efficient and cleaner energy sources.

Consistent with the Adviser's values, the Fund may invest in domestic and/or foreign fixed-income securities, such as notes (including standalone notes not rated by any agency), to help fund community development institutions and projects aimed at serving human needs such as those of low-to-moderate income families and communities.

Securities may be sold when the Adviser or Sub-Adviser believes that they no longer represent relatively attractive investment opportunities or when the Adviser believes the underlying company is no longer consistent with the Adviser's faith-based values.

**Distribution Policy.** The Fund's distribution policy is to make approximately twelve distributions to shareholders per calendar year. The frequency of distributions is based on the availability of distributable income and the investment needs of the Fund. The level of periodic distributions (including any return of capital) is not fixed and is not designed to generate, and is not expected to result in, distributions that equal a fixed percentage of the Fund's current net asset value per share. Shareholders receiving periodic payments from the Fund may be under the impression that they are receiving net profits. However, all or a portion of a distribution may consist of a return of capital. Shareholders should not assume that the Fund's distribution rate or the source of a distribution from the Fund is net profit. For more information about the Fund's distribution policy, please turn to "Additional Information About Each Fund's Principal Investment Strategies and Related Risks – Principal Investment Strategies - Distribution Policy and Goals."

Principal Risks of Investing in the Fund

As with any mutual fund, there is no guarantee that the Fund will achieve its objective. Investment markets are unpredictable and there will be certain market conditions where the Fund will not meet its investment objective and will lose money. The Fund's net asset value and returns will vary and you could lose money on your investment in the Fund and those losses could be significant.

The following summarizes the principal risks of investing in the Fund. These risks could adversely affect the net asset value, total return and the value of the Fund and your investment.

**ADRs Risk.** ADRs, which are typically issued by a bank, are certificates that evidence ownership of shares of a foreign company and are alternatives to purchasing foreign securities directly in their national markets and currencies. ADRs are subject to the same risks as direct investment in foreign companies and involve risks that are not found in investments in U.S. companies. Although an ADR is priced in U.S. dollars, movements in the exchange rate of the local currency versus the U.S. dollar are automatically reflected in the price of the ADR in U.S. dollars. Therefore, even if the price of the foreign security does not change on its market, if the exchange rate of the local currency relative to the U.S. dollar declines, the ADR price would decline by a similar measure.

**Allocation Risk.** If the Fund's strategy for allocating assets among different assets classes does not work as intended, the Fund may not achieve its objective or may underperform other funds with the same or similar investment strategy.

---

| | |
|:---|:---|
| **EVENTIDE** | **22** |
| **EVENTIDE** | **22** |

---

---

| | |
|:---|:---|
| **P r o s p e c t u s**  | **N o v e m b e r 1, 2 0 2 5** |

---

**Asset-Backed and Mortgage-Backed Security Risk.** When the Fund invests in asset-backed securities, mortgage-backed securities or collateralized mortgage obligations, the Fund is subject to the risk that, if the issuer fails to pay interest or repay principal, the assets backing these securities may not be sufficient to support payments on the securities.

Mortgage-backed securities represent participating interests in pools of residential mortgage loans, some of which are guaranteed by the U.S. government, its agencies or instrumentalities. However, the guarantee of these types of securities relates to the principal and interest payments and not the market value of such securities. In addition, the guarantee only relates to the mortgage-backed securities held by a Fund and not the purchase of shares of the Fund. Mortgage-backed securities do not have a fixed maturity and their expected maturities may vary when interest rates rise or fall.

Mortgage-backed securities issued or guaranteed by private issuers are also known as "non-agency MBS." Non-agency MBS generally are a greater credit risk than MBS issued by the U.S. government, and the market for non-agency MBS is smaller and may be less liquid that the market for government MBS.

**Convertible Securities Risk.** Convertible securities are hybrid securities that have characteristics of both fixed income and equity securities, and are therefore subject to the risks associated with both fixed income and equity securities. The market value of convertible securities and other debt securities tends to fall when prevailing interest rates rise. The market value of convertible securities also tends to change whenever the market value of the underlying common or preferred stock fluctuates.

**Credit Risk.** Credit risk is the risk that an issuer of a security will fail to pay principal and interest in a timely manner, reducing the Fund's total return. The Fund may invest in high-yield, unrated, or otherwise high-risk securities, commonly called "junk bonds," that are not investment grade and are generally considered speculative because they present a greater risk of loss, including default, than higher quality debt securities.

**Distribution Policy Risk.** The Fund's distribution policy is not designed to generate, and is not expected to result in, distributions that equal a fixed percentage of the Fund's current net asset value per share. Shareholders receiving periodic payments from the Fund may be under the impression that they are receiving net profits. However, all or a portion of a distribution may consist of a return of capital (i.e., from your original investment). Shareholders should not assume that the Fund's distribution rate or the source of a distribution from the Fund is net profit. Shareholders should note that a return of capital will reduce the tax basis of their shares and potentially increase the taxable gain, if any, upon disposition of their shares.

**Duration Risk.** Longer-term securities may be more sensitive to interest rate changes. Rising interest rates pose a heightened risk to the Fund's longer-term fixed income securities. Effective duration estimates price changes for relatively small changes in rates. If rates rise significantly, effective duration may tend to understate the drop in a security's price. If rates drop significantly, effective duration may tend to overstate the rise in a security's price.

**Equity Security Risk.** Common and preferred stocks are susceptible to general stock market fluctuations and to volatile increases and decreases in value as market confidence in and perceptions of their issuers change. Warrants and rights may expire worthless if the price of a common stock is below the conversion price of the warrant or right. Convertible bonds may decline in value if the price of a common stock falls below the conversion price. Investor perceptions are based on various and unpredictable factors, including expectations regarding government, economic, monetary and fiscal policies; inflation and interest rates; economic expansion or contraction and global or regional political, economic and banking crises.

---

| | |
|:---|:---|
| **EVENTIDE** | **23** |
| **EVENTIDE** | **23** |

---

---

| | |
|:---|:---|
| **P r o s p e c t u s**  | **N o v e m b e r 1, 2 0 2 5** |

---

**Ethical Investment Risk.** The Fund's ethical values screening criteria could cause it to underperform similar funds that do not have such screening criteria. This could be due to ethically acceptable companies falling out of favor with investors or failing to perform as well as companies that do not meet the Fund's ethical screening guidelines.

To supplement its efforts in ethical investing, the Adviser may engage with portfolio companies to encourage consideration of corporate strategies aligned with the Adviser's values, including pricing and/or business practices that may be beneficial within particular industries. The Adviser believes these activities will help promote ethical and effective corporate governance and long-term strategy for companies, and potentially create a positive effect on the particular businesses and/or industries, their consumers, and the Fund. There is no guarantee that the Adviser's corporate engagements and related-activities will achieve their intended results. There is a risk that the Adviser's activities in this regard could limit the Fund's investment universe and reduce the amount of profits that could be realized by affected companies, limiting the Fund's investment returns. Furthermore, the U.S. government or any agency thereof, may enact rules or legislation that, directly or indirectly, materially impacts the Adviser's activities in this regard, or materially affects the value of companies or opportunities for investment within particular industries.

**Extension Risk.** If interest rates rise, repayments of principal on certain debt securities, including, but not limited to, floating rate loans and mortgage-related securities, may occur at a slower rate than expected and the expected maturity of those securities could lengthen as a result. Securities that are subject to extension risk generally have a greater potential for loss when prevailing interest rates rise, which could cause their values to fall sharply.

**Fixed Income Risk.** When the Fund invests in fixed income securities, the value of your investment in the Fund will fluctuate with changes in interest rates. Typically, a rise in interest rates causes a decline in the value of fixed income securities owned by the Fund. In general, the market price of fixed income securities with longer maturities will increase or decrease more in response to changes in interest rates than shorter-term securities. Federal Reserve policy changes may expose fixed-income and related markets to heightened volatility and may reduce liquidity for certain Fund investments, which could cause the value of the Fund's investments and share price to decline. Other risk factors include credit risk (the debtor may default), extension risk (an issuer may exercise its right to repay principal on a fixed rate obligation held by the Fund later than expected), and prepayment risk (the debtor may pay its obligation early, reducing the amount of interest payments). These risks could affect the value of a particular investment by the Fund, possibly causing the Fund's share price and total return to be reduced and fluctuate more than other types of investments.

**Foreign Securities Risk.** Since the Fund's investments may include ADRs and foreign securities, the Fund is subject to risks beyond those associated with investing in domestic securities. The value of foreign securities is subject to currency fluctuations. Foreign companies are generally not subject to the same regulatory requirements as U.S. companies thereby resulting in less publicly available information about these companies. In addition, foreign investing involves other risks not typically associated with U.S. investments, including adverse political, social and economic developments, less liquidity, greater volatility, less developed or less efficient trading markets, political instability and differing accounting, auditing, financial reporting and legal standards.

---

| | |
|:---|:---|
| **EVENTIDE** | **24** |
| **EVENTIDE** | **24** |

---

---

| | |
|:---|:---|
| **P r o s p e c t u s**  | **N o v e m b e r 1, 2 0 2 5** |

---

**Income Risk.** Income risk is the risk that the income from the Fund's portfolio will decline because of falling market interest rates. This can result when the Fund invests the proceeds from new share sales, or from matured or called bonds, at market interest rates that are below the portfolio's current earnings rate.

**Interest Rate Risk.** Changes in short-term market interest rates will directly affect the yield on the shares of a fund whose investments are normally invested in floating rate debt. If short-term market interest rates fall, the yield on the Fund's shares will also fall. Conversely, when short-term market interest rates rise, because of the lag between changes in such short-term rates and the resetting of the floating rates on the floating rate debt in the Fund's portfolio, the impact of rising rates will be delayed to the extent of such lag. Rising interest rates pose a heightened risk to any longer-term fixed income securities held by the Fund.

**Junk Bond Risk.** Lower-quality or unrated bonds, known as "high yield" or "junk" bonds, present greater risk than bonds of higher quality, including an increased risk of default. An economic downturn or period of rising interest rates could adversely affect the market for these bonds and reduce the Fund's ability to sell its bonds. The lack of a liquid market for these bonds could decrease the Fund's share price.

**Large Capitalization Company Risk.** Large capitalization companies may be less able than smaller capitalization companies to adapt to changing market conditions. Large capitalization companies may be more mature and subject to more limited growth potential compared with smaller capitalization companies. During different market cycles, the performance of large capitalization companies has trailed the overall performance of the broader securities markets.

**Liquidity Risk.** Some securities held by the Fund may be difficult to sell, or illiquid, particularly during times of market turmoil. Illiquid investments may also lack a readily observable or market-corroborated price and be difficult to value. If the Fund is forced to sell an illiquid asset to meet redemption requests or other cash needs, the Fund may be forced to sell at an unexpected loss.

**Management Risk.** The portfolio managers' judgments about the attractiveness, value and potential appreciation of particular securities in which the Fund invests may prove to be incorrect, and there is no guarantee that the portfolio managers' judgment will produce the desired results.

**Market Risk.** Overall stock or bond market risks may also affect the value of the Fund. Factors such as domestic and/or foreign economic growth and market conditions, interest rate levels, political events and terrorism affect the securities markets.

**Medium (Mid) Capitalization Company Risk.** To the extent the Fund invests in the stocks of mid-sized companies, the Fund may be subject to additional risks. The earnings and prospects of these companies are more volatile than larger companies. These companies may experience higher failure rates than larger companies. Mid-sized companies normally have a lower trading volume than larger companies, which may tend to make their market price fall more disproportionately than larger companies in response to selling pressures. Mid-sized companies may also have limited markets, product lines or financial resources and may lack management experience.

**Options Market Risk.** Markets for options and options on futures may not always operate on a fair and orderly basis. At times, prices for options and options on futures may not represent fair market value and prices may be subject to manipulation, which may be extreme under some circumstances. The dysfunction and manipulation of volatility and options markets may make it difficult for the Fund to effectively implement its investment strategy and achieve its objectives and could potentially lead to significant losses.

---

| | |
|:---|:---|
| **EVENTIDE** | **25** |
| **EVENTIDE** | **25** |

---

---

| | |
|:---|:---|
| **P r o s p e c t u s**  | **N o v e m b e r 1, 2 0 2 5** |

---

**Options Risk.** There are risks associated with the sale and purchase of call and put options. As the seller (writer) of a covered call option, the Fund assumes the risk of a decline in the market price of the underlying security below the purchase price of the underlying security less the premium received and gives up the opportunity for gain on the underlying security above the exercise option price because the Fund will no longer hold the underlying security. The use of derivative instruments, such as options, involves risks different from, or possibly greater than, the risks associated with investing directly in securities and other traditional investments, including the risk that the counterparty to an options transaction may not fulfill its contractual obligations.

**Preferred Stock Risk.** Dividends on preferred stocks are generally payable at the discretion of the issuer's board of directors and Fund shareholders may lose money if dividends are not paid. Preferred stock prices may fall if interest rates rise or the issuer's creditworthiness becomes impaired.

**Prepayment Risk.** The Fund may invest in debt securities that may be paid off early when the issuer of a debt security can repay the principal prior to a security's maturity. If interest rates are falling, the Fund may have to reinvest the unanticipated proceeds at lower interest rates, resulting in a decline in the Fund's income.

**Real Estate and REIT Risk.** Investing in REITs involves certain unique risks in addition to those risks associated with investing in the real estate industry in general. Equity REITs may be affected by changes in the value of the underlying property owned by the REITs, while mortgage REITs may be affected by the quality of any credit extended.

**Security Risk.** The value of the Fund may decrease in response to the activities and financial prospects of an individual security or group of securities in the Fund's portfolio. There can be no guarantee the securities held by the Fund will appreciate in value.

**Small Capitalization Company Risk.** Smaller-sized companies may experience higher failure rates than larger companies and normally have a lower trading volume than larger companies, which may tend to make their market price fall more disproportionately than larger companies in response to selling pressures and companies may have limited markets, product lines or financial resources and lack management experience.

**Stock Value Risk.** Stocks involve the risk that they may never reach what the Adviser believes is their full market value, either because the market fails to recognize the stock's intrinsic worth, or the Adviser misgauged that worth. Stocks also may decline in price, even though, in theory, they are already undervalued. Investments in private companies that lack readily observable or market-corroborated prices generally increase stock valuation risk because they are more difficult to value. Many private companies are not required to file periodic financial reports, leading to challenges in the Adviser's ability to evaluate a company's business prospects and the fair value of its securities. The fair valued prices assigned to the Fund's investments in private companies are based on a variety of factors, reviewed regularly, and updated as additional information becomes available. However, fair value pricing includes subjective judgments, and it is possible that the fair value assigned to a security may differ materially from the value the Fund would realize if the security were sold.

---

| | |
|:---|:---|
| **EVENTIDE** | **26** |
| **EVENTIDE** | **26** |

---

---

| | |
|:---|:---|
| **P r o s p e c t u s**  | **N o v e m b e r 1, 2 0 2 5** |

---

**U.S. Government Obligations Risk.** The Fund's investments in securities issued or guaranteed by federal agencies and U.S. government sponsored entities may or may not be backed by the full faith and credit of the U.S. government.

**Yieldcos Risk.** Investments in securities of yieldcos involve risks that differ from investments in traditional operating companies, including risks related to the relationship between the yieldco and the company responsible for the formation of the yieldco (the "Yieldco Sponsor"). Yieldcos typically remain dependent on the management and administration services provided by or under the direction of the Yieldco Sponsor and on the ability of the Yieldco Sponsor to identify and present the yieldco with acquisition opportunities, which may often be assets of the Yieldco Sponsor itself. To the extent that the yieldco relies on the Yieldco Sponsor for developing new assets for potential future acquisitions, the yieldco may be dependent on the development capabilities and financial health of the Yieldco Sponsor. Yieldco Sponsors may have interests that conflict with the interests of the yieldco and may retain control of the yieldco via classes of stock held by the Yieldco Sponsor. Any event that limits the yieldco's ability to maintain or grow its distributable cash flow would likely have a negative impact on the yieldco's share price.

Performance

The bar chart and accompanying table shown below provide an indication of the risks of investing in the Fund. The bar chart shows the performance of its Class A shares for each full calendar year since the Fund's Class A shares commenced operations. Although Class C, N and I shares have similar annual returns to Class A shares because the classes are invested in the same portfolio of securities, the returns for Class C, N and I shares are different from Class A shares because Class C, N and I shares have different expenses than Class A shares. The performance table shows how the average annual returns of Class A, C, I and N shares compare over time with a broad-based market index and a supplemental index (strategy benchmark) that the Adviser believes is more representative of the Fund's investment universe. How the Fund has performed in the past (before and after taxes) is not necessarily an indication of how it will perform in the future. Updated performance information is available at no cost by calling 1-877-771-3836 and on the Fund's website at <u>www.eventidefunds.com</u>.

Eventide Balanced Fund Class A Annual Total Returns for the Years Ended December 31

![(BAR GRAPH)](ev004_v1.jpg)

Figures do not reflect sales charges. If they did, returns would be lower.

During the period shown in the bar chart, for Class A shares, the highest return for a quarter was 12.02% (quarter ended June 30, 2020), and the lowest return for a quarter was (9.98)% (quarter ended March 31, 2020). The Fund's Class A year-to-date return as of September 30, 2025, was 7.43%.

---

| | |
|:---|:---|
| **EVENTIDE** | **27** |
| **EVENTIDE** | **27** |

---

---

| | |
|:---|:---|
| **P r o s p e c t u s**  | **N o v e m b e r 1, 2 0 2 5** |

---

---

| | | | |
|:---|:---|:---|:---|
| **Average Annual Total Returns** *(periods ended December 31, 2024)* |  |  |  |
| *Class A Shares* | *1 Year* | *5 Years* | *Since inception<br> (7/15/2015)* |
| Return Before Taxes | 3.16% | 6.04% | 6.12% |
| Return After Taxes on Distributions | 2.60% | 5.28% | 5.31% |
| Return After Taxes on Distributions and Sale of Fund Shares | 1.97% | 4.50% | 4.61% |
| *Class C Shares* | | | |
| Return Before Taxes | 8.67% | 6.45% | 5.97% |
| *Class N Shares* | | | |
| Return Before Taxes | 9.56% | 7.30% | 6.82% |
| *Class I Shares* | | | |
| Return Before Taxes | 9.79% | 7.51% | 7.03% |
| Bloomberg US Aggregate Bond Index (reflects no deduction for fees, expenses or taxes) | 1.25% | (0.33)% | 1.43% |
| Bloomberg Mid Cap/Intermediate US Aggregate 50/50 TR Index (reflects no deduction for fees, expenses or taxes) | 8.54% | 5.75% | 6.14% |

---

After-tax returns are calculated using the highest historical individual federal marginal income tax rate and do not reflect the impact of state and local taxes. Actual after-tax returns depend on a shareholder's tax situation and may differ from those shown. After-tax returns are not relevant for shareholders who hold Fund shares in tax-deferred accounts or to shares held by non-taxable entities. After-tax returns are only shown for Class A shares. After-tax returns for other share classes, which are not shown, will vary from those of Class A shares.

**Adviser.** Eventide Asset Management, LLC is the Fund's investment adviser.

**Sub-Adviser.** Boyd Watterson Asset Management, LLC is the Fund's investment sub-adviser.

**Portfolio Managers.** Dolores S. Bamford, CFA, Co-Chief Investment Officer and Senior Portfolio Manager of the Adviser, serves as the Lead Portfolio Manager of the Fund. David M. Dirk, CFA, Director of Portfolio Management and Trading of the Sub-Adviser, serves as a portfolio manager for those assets allocated to the Sub-Adviser. Ms. Bamford has served the Fund in this capacity since 2019 and Mr. Dirk has served the Fund in this capacity since the Fund commenced operations in 2015.

**Purchase and Sale of Fund Shares.** The minimum initial investment in Class A, Class C and Class N Shares of the Fund is $1,000 for a regular account and for an IRA account, or $100 for an automatic investment plan account. The minimum initial investment in Class I shares purchased through a financial intermediary is $100,000 for all accounts. Class I shares purchased directly from the Fund are not subject to minimum initial or subsequent investment requirements. You may purchase and redeem shares of the Fund on any day that the New York Stock Exchange is open. Redemptions requests may be made in writing, online, by telephone or through a financial intermediary to the Fund or the Fund's transfer agent and will be paid by check or wire transfer.

**Tax Information.** Dividends and capital gain distributions you receive from the Fund, whether you reinvest your distributions in additional Fund shares or receive them in cash, are taxable to you at either ordinary income or capital gains tax rates unless you are investing through a tax-deferred plan. If you are investing in a tax-deferred plan, distributions may be taxable upon withdrawal from the plan.

**Payments to Broker-Dealers and Other Financial Intermediaries.** If you purchase the Fund through a broker-dealer or other financial intermediary (such as a bank), the Fund and its related companies may pay the intermediary for the sale of Fund shares and related services. These payments may create a conflict of interest by influencing the broker-dealer or other intermediary and your salesperson to recommend the Fund over another investment. Ask your salesperson or visit your financial intermediary's website for more information.

---

| | |
|:---|:---|
| **EVENTIDE** | **28** |
| **EVENTIDE** | **28** |

---

---

| | |
|:---|:---|
| **P r o s p e c t u s**  | **N o v e m b e r 1, 2 0 2 5** |

---

<u>Eventide Dividend Growth Fund</u> <u>Fund Summary</u>

**Investment Objectives.**

The investment objective of the Eventide Dividend Growth Fund (the "Dividend Growth Fund" or the "Fund") is dividend growth and long-term capital appreciation.

The Fund's secondary objective is dividend income.

**Fees and Expenses of the Fund.**

The tables describe the fees and expenses that you may pay if you buy, hold, and sell shares of the Fund. **You may pay other fees, such as brokerage commissions and other fees to financial intermediaries, which are not reflected in the table and Example below.** You may qualify for sales charge discounts on purchases of Class A shares if you and your family invest, or agree to invest in the future, at least $50,000 in the Fund. More information about these and other discounts is available from your financial professional and is included in the section of the Fund's prospectus entitled **How to Buy Shares** on page 114 and **Appendix A – Intermediary-Specific Sales Charge Reductions and Waivers**, and in the sections of the Fund's Statement of Additional Information entitled **Reduction of Up-Front Sales Charge on Class A Shares** on page 70, and **Waivers of Up-Front Sales Charge on Class A Shares** on page 71.

---

| | | | | |
|:---|:---|:---|:---|:---|
| **Shareholder Fees***<br> Fees paid directly from your investment* | *Class A* | *Class C* | *Class N* | *Class I* |
| Maximum Sales Charge (Load) Imposed on Purchases (as a % of offering price) | 5.75% |  |  |  |
| Maximum Deferred Sales Charge (Load) (as a % of the lesser of the NAV of the shares redeemed or the original purchase price) | 1.00%<sup>1</sup> | 1.00%<sup>2</sup> |  |  |
| Maximum Sales Charge (Load) Imposed on Reinvested Dividends and other Distributions |  |  |  |  |
| Redemption Fee for Shares Redeemed by Wire Transfer | $15 | $15 | $15 | $15 |

---

---

| | | | | |
|:---|:---|:---|:---|:---|
| **Annual Fund Operating Expenses***<br> Expenses that you pay each year as a percentage of the value of your investment* | | | | |
| Management Fees | 0.73% | 0.73% | 0.73% | 0.73% |
| Distribution and/or Service (12b-1) Fees | 0.25% | 1.00% | 0.20% |  |
| Other Expenses | 0.21% | 0.21% | 0.21% | 0.21% |
| Total Annual Fund Operating Expenses | 1.19% | 1.94% | 1.14% | 0.94% |
| Expense Recapture<sup>3</sup> | 0.01% | 0.01% | 0.01% | 0.01% |
| Total Annual Fund Operating Expenses After Fee Waiver and/or Expense Reimbursement<sup>3</sup> | 1.20% | 1.95% | 1.15% | 0.95% |

---

1. The
maximum deferred sales charge on Class A shares (as a % of NAV at the time of purchase) applies only to purchases of $250,000 or more
and applies to shares sold within 18 months of purchase.

2. The
maximum deferred sales charge on Class C shares (as a % of the lesser of NAV of the shares redeemed or the original purchase price) applies
to shares sold within 12 months of purchase.

3. The
Fund's adviser has contractually agreed to waive fees and/or reimburse expenses of the Fund to the extent necessary to limit operating
expenses (excluding front-end or contingent deferred loads, taxes, leverage interest, brokerage commissions, expenses incurred in connection
with any merger or reorganization, dividend expense on securities sold short, underlying fund fees and expenses or extraordinary expenses
such as litigation) at 1.20%, 1.95%, 1.15% and 0.95% for Class A shares, Class C shares, Class N shares and Class I shares, respectively,
through October 31, 2026 . This agreement may only be terminated by the Board of Trustees on 60 days' written notice to the adviser
and upon the termination of the advisory agreement between the Trust and the adviser. Fee waivers and expense reimbursements are subject
to possible recoupment by the adviser from the Fund in future years on a rolling three-year basis (within the three years after the fees
have been waived or reimbursed) if, after the recoupment is taken into account, such recoupment can be achieved within the lesser of
the expense limitation in place at the time of waiver/reimbursement and the expense limitation in place at the time of recapture.

---

| | |
|:---|:---|
| **EVENTIDE** | **29** |
| **EVENTIDE** | **29** |

---

---

| | |
|:---|:---|
| **P r o s p e c t u s**  | **N o v e m b e r 1, 2 0 2 5** |

---

**Example of Hypothetical Fund Costs.**

This Example is intended to help you compare the cost of investing in the Fund with the cost of investing in other mutual funds.

The Example assumes that you invest $10,000 in the Fund for the time periods indicated and then hold or redeem all of your shares at the end of those periods. The Example only accounts for the Fund's expense limitation through its expiration period, October 31, 2026, and then depicts the Fund's total annual expenses thereafter. The Example also assumes that your investment has a 5% return each year and that the Fund's operating expenses remain the same. Although your actual costs may be higher or lower, based on these assumptions your costs would be:

---

| | | | | |
|:---|:---|:---|:---|:---|
| | 1 Year | 3 Years | 5 Years | 10 Years |
| Class A | $690 | $934 | $1198 | $1950 |
| Class C – no redemption | $197 | $613 | $1054 | $2279 |
| Class C – with redemption | $297 | $613 | $1054 | $2279 |
| Class N | $117 | $366 | $634 | $1402 |
| Class I | $96 | $303 | $527 | $1171 |

---

**Portfolio Turnover.**

The Fund pays transaction costs, such as commissions, when it buys and sells securities (or "turns over" its portfolio). A higher portfolio turnover rate may indicate higher transaction costs and may result in higher taxes when Fund shares are held in a taxable account. These costs, which are not reflected in annual fund operating expenses or in the Example, affect the Fund's performance. The portfolio turnover rate of the Fund for the fiscal year ended June 30, 2025, was 58% of the average value of its portfolio.

Principal Investment Strategies

The Fund seeks to achieve its investment objective by investing in securities with dividend growth attributes, which may include historical dividend growth characteristics and/or strong free cash flow generation and healthy balance sheet characteristics. The Fund has broad discretion to invest in securities selected by the Fund's investment adviser, Eventide Asset Management, LLC ("Eventide" or the "Adviser"), in the pursuit of the Fund's objectives and to maintain flexibility for investing in domestic and foreign securities across all market capitalizations and economic sectors without limitation. The Fund's investments in foreign securities may be made either directly or through American Depository Receipts ("ADRs"). The Fund is focused on identifying and investing in companies capable of increasing profitability, growth, and dividend growth by serving well the needs of customers, employees, suppliers, communities, the environment, and society broadly.

---

| | |
|:---|:---|
| **EVENTIDE** | **30** |
| **EVENTIDE** | **30** |

---

---

| | |
|:---|:---|
| **P r o s p e c t u s**  | **N o v e m b e r 1, 2 0 2 5** |

---

The Fund may invest in a particular type of security without limitation but limits its investment in a particular industry to less than 25% of the Fund's net assets. The Fund may invest in private and other issuers whose securities may have legal or contractual restrictions on resale or are otherwise illiquid ("Illiquid Investments"), which can impact their valuation. The Fund will not invest more than 15% of the Fund's net assets in Illiquid Investments.

The Adviser utilizes a fundamental "bottom-up" analysis to evaluate investments for inclusion in the Fund's portfolio. The Adviser seeks to invest in attractively valued securities that, in its opinion, represent above-average long-term investment opportunities. The Adviser favors investments that it believes will have relatively lower correlation or volatility to the overall market. The Adviser seeks to invest in securities that, in its opinion, are attractively valued, provide attractive current income, provide income appreciation potential, provide capital appreciation potential, and/or help to reduce overall portfolio volatility.

The Adviser may use options, such as puts or calls on individual securities, as well as options on securities indices, to enhance returns, generate income, to reduce portfolio volatility, or to reduce downside risk when the Adviser believes it to be prudent. To enhance income, the Adviser has the ability to sell call options on stocks held in the portfolio (covered call writing). In exchange for the option premium received, the Fund gives up potential upside in the underlying stock. The Adviser also has the ability to write put options on stocks that it has deemed to be attractive purchases at lower price levels.

The Adviser may also utilize a combination of puts and/or calls on the same security (sometimes referred to as "straddles," "collars" or "spreads") or utilize puts and calls on related securities.

**Faith-Based Screening.** The Adviser uses its proprietary screening methodology to analyze all potential investments for the company's ability to operate with integrity and to create value for customers, employees, and other stakeholders by reflecting the values described below. The values assessed in the Adviser's screening process are inspired by the Christian faith and rooted in a biblical worldview. While few companies may reach these ideals in every area of their business, these principles articulate the Adviser's highest expectations for the companies in which the Fund invests. The Adviser uses its screening process in connection with other fundamental research processes to establish the Fund's eligible investment universe. Securities are generally ineligible within the Fund's portfolio unless the Adviser believes that the faith-based screens are met. If the Adviser's research identifies events and/or business changes suggesting that a portfolio company no longer meets the faith-based criteria, the Fund may hold the company's securities while the Adviser performs additional research, including possible direct engagement with the company to assess practices. The Adviser's faith-based screening process for potential investments does not apply relative weights between values-based factors and financial factors. There is no guarantee that the Adviser will be able to successfully screen out all companies that are inconsistent with the following principles which help to guide the Adviser's research and investment framework. Specifically, the Adviser seeks to invest in companies that reflect the following values:

&nbsp;&nbsp;&nbsp;&nbsp;■ Respecting
the value and freedom of all people: this includes the right to life at all stages and freedom from addictive behaviors caused by gambling,
pornography, tobacco, and alcohol.

&nbsp;&nbsp;&nbsp;&nbsp;■ Demonstrating
a concern for justice and peace: this includes fair and ethical relationships with customers, suppliers, and business partners and avoiding
products and services that promote weapons production and proliferation.

&nbsp;&nbsp;&nbsp;&nbsp;■ Promoting
family and community: this includes protecting children from violent forms of entertainment and serving low-income communities.

---

| | |
|:---|:---|
| **EVENTIDE** | **31** |
| **EVENTIDE** | **31** |

---

---

| | |
|:---|:---|
| **P r o s p e c t u s**  | **N o v e m b e r 1, 2 0 2 5** |

---

&nbsp;&nbsp;&nbsp;&nbsp;■ Exhibiting
responsible management practices: this includes fair dealing with employees, communities, competitors, suppliers, and customers as demonstrated
by a company's record regarding litigation, regulatory actions against the company, and its record of providing products and services
that improve the lives of people.

&nbsp;&nbsp;&nbsp;&nbsp;■ Practicing
environmental stewardship: this includes practices considered more sustainable than those of industry peers, reduction in environmental
impact when compared to previous periods, and/or the use of more efficient and cleaner energy sources.

Consistent with the Adviser's values, the Fund may invest in domestic and/or foreign fixed-income securities, such as notes (including standalone notes not rated by any agency), to help fund community development institutions and projects aimed at serving human needs such as those of low-to-moderate income families and communities.

Securities may be sold when the Adviser believes that they no longer represent relatively attractive investment opportunities or when the Adviser believes the underlying company is no longer consistent with the Adviser's faith-based values.

**Distribution Policy.** The Fund's distribution policy is to make approximately four distributions to shareholders per calendar year. The frequency of distributions is based on the availability of distributable income and the investment needs of the Fund. The level of periodic distributions (including any return of capital) is not fixed and is not designed to generate, and is not expected to result in, distributions that equal a fixed percentage of the Fund's current net asset value per share. Shareholders receiving periodic payments from the Fund may be under the impression that they are receiving net profits. However, all or a portion of a distribution may consist of a return of capital. Shareholders should not assume that the Fund's distribution rate or the source of a distribution from the Fund is net profit. For more information about the Fund's distribution policy, please turn to "Additional Information About Each Fund's Principal Investment Strategies and Related Risks – Principal Investment Strategies – Distribution Policy and Goals."

Principal Risks of Investing in the Fund

As with any mutual fund, there is no guarantee that the Fund will achieve its objective. Investment markets are unpredictable and there will be certain market conditions where the Fund will not meet its investment objective and will lose money. The Fund's net asset value and returns will vary and you could lose money on your investment in the Fund and those losses could be significant.

The following summarizes the principal risks of investing in the Fund. These risks could adversely affect the net asset value, total return and the value of the Fund and your investment.

**ADRs Risk.** ADRs, which are typically issued by a bank, are certificates that evidence ownership of shares of a foreign company and are alternatives to purchasing foreign securities directly in their national markets and currencies. ADRs are subject to the same risks as direct investment in foreign companies and involve risks that are not found in investments in U.S. companies. Although an ADR is priced in U.S. dollars, movements in the exchange rate of the local currency versus the U.S. dollar are automatically reflected in the price of the ADR in U.S. dollars. Therefore, even if the price of the foreign security does not change on its market, if the exchange rate of the local currency relative to the U.S. Dollar declines, the ADR price would decline by a similar measure.

---

| | |
|:---|:---|
| **EVENTIDE** | **32** |
| **EVENTIDE** | **32** |

---

---

| | |
|:---|:---|
| **P r o s p e c t u s**  | **N o v e m b e r 1, 2 0 2 5** |

---

**Convertible Securities Risk.** Convertible securities are hybrid securities that have characteristics of both fixed income and equity securities, and are therefore subject to the risks associated with both fixed income and equity securities. The market value of convertible securities and other debt securities tends to fall when prevailing interest rates rise. The market value of convertible securities also tends to change whenever the market value of the underlying common or preferred stock fluctuates.

**Distribution Policy Risk.** The Fund's distribution policy is not designed to generate, and is not expected to result in, distributions that equal a fixed percentage of the Fund's current net asset value per share. Shareholders receiving periodic payments from the Fund may be under the impression that they are receiving net profits. However, all or a portion of a distribution may consist of a return of capital (i.e., from your original investment). Shareholders should not assume that the Fund's distribution rate or the source of a distribution from the Fund is net profit. Shareholders should note that a return of capital will reduce the tax basis of their shares and potentially increase the taxable gain, if any, upon disposition of their shares.

**Equity Security Risk.** Stocks are susceptible to general stock market fluctuations and to volatile increases and decreases in value as market confidence in and perceptions of their issuers change. Warrants and rights may expire worthless if the price of a common stock is below the conversion price of the warrant or right. Convertible bonds may decline in value if the price of a common stock falls below the conversion price. Investor perceptions are based on various and unpredictable factors, including expectations regarding government, economic, monetary and fiscal policies; inflation and interest rates; economic expansion or contraction and global or regional political, economic and banking crises.

**Ethical Investment Risk.** The Fund's ethical values screening criteria could cause it to underperform similar funds that do not have such screening criteria. This could be due to ethically acceptable companies falling out of favor with investors or failing to perform as well as companies that do not meet the Fund's ethical screening guidelines.

To supplement its efforts in ethical investing, the Adviser may engage with portfolio companies to encourage consideration of corporate strategies aligned with the Adviser's values, including pricing and/or business practices that may be beneficial within particular industries. The Adviser believes these activities will help promote ethical and effective corporate governance and long-term strategy for companies, and potentially create a positive effect on the particular businesses and/or industries, their consumers, and the Fund. There is no guarantee that the Adviser's corporate engagements and related-activities will achieve their intended results. There is a risk that the Adviser's activities in this regard could limit the Fund's investment universe and reduce the amount of profits that could be realized by affected companies, limiting the Fund's investment returns. Furthermore, the U.S. government or any agency thereof, may enact rules or legislation that, directly or indirectly, materially impacts the Adviser's activities in this regard, or materially affects the value of companies or opportunities for investment within particular industries.

**Foreign Securities Risk.** Since the Fund's investments may include ADRs and foreign securities, the Fund is subject to risks beyond those associated with investing in domestic securities. The value of foreign securities is subject to currency fluctuations. Foreign companies are generally not subject to the same regulatory requirements as U.S. companies thereby resulting in less publicly available information about these companies. In addition, foreign investing involves other risks not typically associated with U.S. investments, including adverse political, social and economic developments, less liquidity, greater volatility, less developed or less efficient trading markets, political instability and differing accounting, auditing, financial reporting and legal standards.

---

| | |
|:---|:---|
| **EVENTIDE** | **33** |
| **EVENTIDE** | **33** |

---

---

| | |
|:---|:---|
| **P r o s p e c t u s**  | **N o v e m b e r 1, 2 0 2 5** |

---

**Junk Bond Risk.** Lower-quality or unrated bonds, known as "high yield" or "junk" bonds, present greater risk than bonds of higher quality, including an increased risk of default. An economic downturn or period of rising interest rates could adversely affect the market for these bonds and reduce the Fund's ability to sell its bonds. The lack of a liquid market for these bonds could decrease the Fund's share price.

**Large Capitalization Company Risk.** Large capitalization companies may be less able than smaller capitalization companies to adapt to changing market conditions. Large capitalization companies may be more mature and subject to more limited growth potential compared with smaller capitalization companies. During different market cycles, the performance of large capitalization companies has trailed the overall performance of the broader securities markets.

**Liquidity Risk.** Some investments held by the Fund may be difficult to sell, or illiquid, particularly during times of market turmoil. Illiquid investments may also lack a readily observable or market-corroborated price and be difficult to value. If the Fund is forced to sell an illiquid asset to meet redemption requests or other cash needs, the Fund may be forced to sell at an unexpected loss.

**Management Risk.** The portfolio managers' judgments about the attractiveness, value and potential appreciation of particular securities in which the Fund invests may prove to be incorrect, and there is no guarantee that the portfolio managers' judgment will produce the desired results.

**Market Risk**. Overall stock or bond market risks may also affect the value of the Fund. Factors such as domestic and/or foreign economic growth and market conditions, interest rate levels, political events and terrorism affect the securities markets.

**Medium (Mid) Capitalization Company Risk.** To the extent the Fund invests in the stocks of mid-sized companies, the Fund may be subject to additional risks. The earnings and prospects of these companies are more volatile than larger companies. These companies may experience higher failure rates than larger companies. Mid-sized companies normally have a lower trading volume than larger companies, which may tend to make their market price fall more disproportionately than larger companies in response to selling pressures. Mid-sized companies may also have limited markets, product lines or financial resources and may lack management experience.

**Options Market Risk.** Markets for options and options on futures may not always operate on a fair and orderly basis. At times, prices for options and options on futures may not represent fair market value and prices may be subject to manipulation, which may be extreme under some circumstances. The dysfunction and manipulation of volatility and options markets may make it difficult for the Fund to effectively implement its investment strategy and achieve its objectives and could potentially lead to significant losses.

**Options Risk.** There are risks associated with the sale and purchase of call and put options. As the seller (writer) of a covered call option, the Fund assumes the risk of a decline in the market price of the underlying security below the purchase price of the underlying security less the premium received and gives up the opportunity for gain on the underlying security above the exercise option price because the Fund will no longer hold the underlying security. The seller of an uncovered call option assumes the risk of a theoretically unlimited increase in the market price of the underlying security above the exercise price of the option. The seller of an uncovered put option assumes the risk of a decline in the market price of the underlying security below the exercise price of the option. The buyer of a put option assumes the risk of losing his entire premium invested in the put option. The use of derivative instruments, such as options, involves risks different from, or possibly greater than, the risks associated with investing directly in securities and other traditional investments, including the risk that the counterparty to an options transaction may not fulfill its contractual obligations.

---

| | |
|:---|:---|
| **EVENTIDE** | **34** |
| **EVENTIDE** | **34** |

---

---

| | |
|:---|:---|
| **P r o s p e c t u s**  | **N o v e m b e r 1, 2 0 2 5** |

---

**Preferred Stock Risk.** Dividends on preferred stocks are generally payable at the discretion of the issuer's board of directors and Fund shareholders may lose money if dividends are not paid. Preferred stock prices may fall if interest rates rise or the issuer's creditworthiness becomes impaired.

**Real Estate and REIT Risk.** Investing in REITs involves certain unique risks in addition to those risks associated with investing in the real estate industry in general. Equity REITs may be affected by changes in the value of the underlying property owned by the REITs, while mortgage REITs may be affected by the quality of any credit extended.

**Security Risk.** The value of the Fund may decrease in response to the activities and financial prospects of an individual security or group of securities in the Fund's portfolio. There can be no guarantee the securities held by the Fund will appreciate in value.

**Small Capitalization Company Risk.** Smaller-sized companies may experience higher failure rates than larger companies and normally have a lower trading volume than larger companies, which may tend to make their market price fall more disproportionately than larger companies in response to selling pressures and companies may have limited markets, product lines or financial resources and lack management experience.

**Stock Value Risk.** Stocks involve the risk that they may never reach what the Adviser believes is their full market value, either because the market fails to recognize the stock's intrinsic worth, or the Adviser misgauged that worth. Stocks also may decline in price, even though, in theory, they are already undervalued. Investments in private companies that lack readily observable or market-corroborated prices generally increase stock valuation risk because they are more difficult to value. Many private companies are not required to file periodic financial reports, leading to challenges in the Adviser's ability to evaluate a company's business prospects and the fair value of its securities. The fair valued prices assigned to the Fund's investments in private companies are based on a variety of factors, reviewed regularly, and updated as additional information becomes available. However, fair value pricing includes subjective judgments, and it is possible that the fair value assigned to a security may differ materially from the value the Fund would realize if the security were sold.

**Yieldcos Risk.** Investments in securities of yieldcos involve risks that differ from investments in traditional operating companies, including risks related to the relationship between the yieldco and the company responsible for the formation of the yieldco (the "Yieldco Sponsor"). Yieldcos typically remain dependent on the management and administration services provided by or under the direction of the Yieldco Sponsor and on the ability of the Yieldco Sponsor to identify and present the yieldco with acquisition opportunities, which may often be assets of the Yieldco Sponsor itself. To the extent that the yieldco relies on the Yieldco Sponsor for developing new assets for potential future acquisitions, the yieldco may be dependent on the development capabilities and financial health of the Yieldco Sponsor. Yieldco Sponsors may have interests that conflict with the interests of the yieldco and may retain control of the yieldco via classes of stock held by the Yieldco Sponsor. Any event that limits the yieldco's ability to maintain or grow its distributable cash flow would likely have a negative impact on the yieldco's share price.

---

| | |
|:---|:---|
| **EVENTIDE** | **35** |
| **EVENTIDE** | **35** |

---

---

| | |
|:---|:---|
| **P r o s p e c t u s**  | **N o v e m b e r 1, 2 0 2 5** |

---

Performance

The bar chart and accompanying table shown below provide an indication of the risks of investing in the Fund. The bar chart shows the performance of its Class A shares for each full calendar year since the Fund's Class A shares commenced operations. Although Class C, N and I shares have similar annual returns to Class A shares because the classes are invested in the same portfolio of securities, the returns for Class C, N and I shares are different from Class A shares because Class C, N and I shares have different expenses than Class A shares. The performance table shows how the average annual returns of Class A, C, I and N shares compare over time with those of a broad-based market index and a supplemental index (strategy benchmark) that the Adviser believes is more representative of the Fund's investment universe. How the Fund has performed in the past (before and after taxes) is not necessarily an indication of how it will perform in the future. Updated performance information is available at no cost by calling 1-877-771-3836 and on the Fund's website at <u>www.eventidefunds.com</u>.

Eventide Dividend Growth Fund Class A Annual Total Returns for the Years Ended December 31

![(BAR GRAPH)](ev005_v1.jpg)

Figures do not reflect sales charges. If they did, returns would be lower.

During the period shown in the bar chart, for Class A shares, the highest return for a quarter was 18.30% (quarter ended June 30, 2020), and the lowest return for a quarter was (16.95)% (quarter ended March 31, 2020). The Fund's Class A year-to-date return as of September 30, 2025, was 7.62%.

---

| | | | |
|:---|:---|:---|:---|
| **Average Annual Total Returns** *(periods ended December 31, 2024)<br> Class A Shares* | *1 Year* | *5 Years* | *Since<br> inception<br> (9/27/2017)* |
| Return Before Taxes | 9.62% | 11.00% | 9.68% |
| Return After Taxes on Distributions | 9.52% | 10.66% | 9.30% |
| Return After Taxes on Distributions and Sale of Fund Shares | 5.77% | 8.67% | 7.69% |
| *Class C Shares* | | | |
| Return Before Taxes | 15.34% | 11.44% | 9.74% |
| *Class N Shares* | | | |
| Return Before Taxes | 16.27% | 12.32% | 10.61% |
| *Class I Shares* | | | |
| Return Before Taxes | 16.56% | 12.55% | 10.83% |
| Bloomberg US 3000 Equal Weight Total Return Index (reflects no deduction for fees, expenses or taxes) | 11.89% | 8.10% | 7.55% |
| Bloomberg US Mid Cap Total Return Index (reflects no deduction for fees, expenses or taxes) | 14.46% | 10.40% | 10.57% |

---

---

| | |
|:---|:---|
| **EVENTIDE** | **36** |
| **EVENTIDE** | **36** |

---

---

| | |
|:---|:---|
| **P r o s p e c t u s**  | **N o v e m b e r 1, 2 0 2 5** |

---

After-tax returns are calculated using the highest historical individual federal marginal income tax rate and do not reflect the impact of state and local taxes. Actual after-tax returns depend on a shareholder's tax situation and may differ from those shown. After-tax returns are not relevant for shareholders who hold Fund shares in tax-deferred accounts or to shares held by non-taxable entities. After-tax returns are only shown for Class A shares. After-tax returns for other share classes, which are not shown, will vary from those of Class A shares.

**Adviser.** Eventide Asset Management, LLC is the Fund's investment adviser.

**Portfolio Managers.** Dolores S. Bamford, CFA, Co-Chief Investment Officer and Senior Portfolio Manager of the Adviser, and Andrew Singer, CFA, Portfolio Manager and Senior Research Analyst of the Adviser, serve as Portfolio Managers of the Fund. Ms. Bamford is the Lead Portfolio Manager of the Fund. Ms. Bamford has served the Fund in this capacity since 2019. Mr. Singer has served the Fund in this capacity since January 2022.

**Purchase and Sale of Fund Shares.** The minimum initial investment in Class A, Class C and Class N Shares of the Fund, as well as Class I shares purchased directly from the Fund, is $1,000 for a regular account and for an IRA account, or $100 for an automatic investment plan account. The minimum initial investment in Class I shares purchased through a financial intermediary is $100,000 for all accounts. You may purchase and redeem shares of the Fund on any day that the New York Stock Exchange is open. Redemptions requests may be made in writing, online, by telephone or through a financial intermediary to the Fund or the Fund's transfer agent and will be paid by check or wire transfer.

**Tax Information.** Dividends and capital gain distributions you receive from the Fund, whether you reinvest your distributions in additional Fund shares or receive them in cash, are taxable to you at either ordinary income or capital gains tax rates unless you are investing through a tax-deferred plan. If you are investing in a tax-deferred plan, distributions may be taxable upon withdrawal from the plan.

**Payments to Broker-Dealers and Other Financial Intermediaries.** If you purchase the Fund through a broker-dealer or other financial intermediary (such as a bank), the Fund and its related companies may pay the intermediary for the sale of Fund shares and related services. These payments may create a conflict of interest by influencing the broker-dealer or other intermediary and your salesperson to recommend the Fund over another investment. Ask your salesperson or visit your financial intermediary's website for more information.

---

| | |
|:---|:---|
| **EVENTIDE** | **37** |
| **EVENTIDE** | **37** |

---

---

| | |
|:---|:---|
| **P r o s p e c t u s**  | **N o v e m b e r 1, 2 0 2 5** |

---

<u>Eventide Limited-Term Bond Fund</u> <u>Fund Summary</u>

**Investment Objective.**

The investment objective of the Eventide Limited-Term Bond Fund (the "Limited-Term Bond Fund" or the "Fund") is income.

**Fees and Expenses of the Fund.**

The tables describe the fees and expenses that you may pay if you buy, hold, and sell shares of the Fund. **You may pay other fees, such as brokerage commissions and other fees to financial intermediaries, which are not reflected in the table and Example below.** You may qualify for sales charge discounts on purchases of Class A shares if you and your family invest, or agree to invest in the future, at least $50,000 in the Fund. More information about these and other discounts is available from your financial professional and is included in the section of the Fund's prospectus entitled **How to Buy Shares** on page 114 and **Appendix A – Intermediary-Specific Sales Charge Reductions and Waivers**, and in the sections of the Fund's Statement of Additional Information entitled **Reduction of Up-Front Sales Charge on Class A Shares** on page 70, and **Waivers of Up-Front Sales Charge on Class A Shares** on page 71.

---

| | | | | |
|:---|:---|:---|:---|:---|
| **Shareholder Fees***<br> Fees paid directly from your investment* | *Class A* | *Class C* | *Class N* | *Class I* |
| Maximum Sales Charge (Load) Imposed on Purchases (as a % of offering price) | 5.75% |  |  |  |
| Maximum Deferred Sales Charge (Load) (as a % of the lesser of the NAV of the shares redeemed or the original purchase price) | 1.00%<sup>1</sup> | 1.00%<sup>2</sup> |  |  |
| Maximum Sales Charge (Load) Imposed <br> on Reinvested Dividends and other Distributions |  |  |  |  |
| Redemption Fee for Shares Redeemed by Wire Transfer | $15 | $15 | $15 | $15 |

---

---

| | | | | |
|:---|:---|:---|:---|:---|
| **Annual Fund Operating Expenses***<br> Expenses that you pay each year as a percentage of the value of your investment* | | | | |
| Management Fees | 0.31% | 0.31% | 0.31% | 0.31% |
| Distribution and/or Service (12b-1) Fees | 0.25% | 1.00% | 0.20% |  |
| Other Expenses | 0.29% | 0.29% | 0.29% | 0.29% |
| Total Annual Fund Operating Expenses | 0.85% | 1.60% | 0.80% | 0.60% |
| Fee Waiver and/or Expense Reimbursement<sup>3,4</sup> | (0.15)% | (0.15)% | (0.15)% | (0.15)% |
| Total Annual Fund Operating Expenses After Fee Waiver and/or Expense Reimbursement<sup>3,4</sup> | 0.70% | 1.45% | 0.65% | 0.45% |

---

1. The
maximum deferred sales charge on Class A shares (as a % of NAV at the time of purchase) applies only to purchases of $250,000 or more
and applies to shares sold within 18 months of purchase.

2. The
 maximum deferred sales charge on Class C shares (as a % of the lesser of NAV of the shares
 redeemed or the original purchase price) applies to shares sold within 12 months of purchase.

3. Restated
to reflect current fees.

4. The Fund's adviser
 has contractually agreed to waive fees and/or reimburse expenses of the Fund to the extent necessary to limit operating expenses
 (excluding front-end or contingent deferred loads, taxes, leverage interest, brokerage commissions, expenses incurred in connection
 with any merger or reorganization, dividend expense on securities sold short, underlying fund fees and expenses or extraordinary
 expenses such as litigation) at 0.70%, 1.45%, 0.65% and 0.45% for Class A shares, Class C shares, Class N shares, and Class I
 shares, respectively, through October 31, 2026 . This agreement may only be terminated by the Trust's Board of Trustees on 60
 days' written notice to the adviser and upon the termination of the advisory agreement between the Trust and the adviser. Fee
 waivers and expense reimbursements are subject to possible recoupment by the adviser from the Fund in future years on a rolling
 three-year basis (within the three years after the fees have been waived or reimbursed) if, after the recoupment is taken into
 account, such recoupment can be achieved within the lesser of the expense limitation in place at the time of waiver/reimbursement
 and the expense limitation in place at the time of recapture.

---

| | |
|:---|:---|
| **EVENTIDE** | **38** |
| **EVENTIDE** | **38** |

---

---

| | |
|:---|:---|
| **P r o s p e c t u s**  | **N o v e m b e r 1, 2 0 2 5** |

---

**Example of Hypothetical Fund Costs.**

This Example is intended to help you compare the cost of investing in the Fund with the cost of investing in other mutual funds.

The Example assumes that you invest $10,000 in the Fund for the time periods indicated and then hold or redeem all of your shares at the end of those periods. The Example only accounts for the Fund's expense limitation through its expiration period, October 31, 2026, and then depicts the Fund's total expense thereafter. The Example also assumes that your investment has a 5% return each year and that the Fund's operating expenses remain the same. Although your actual costs may be higher or lower, based on these assumptions your costs would be:

---

| | | | | |
|:---|:---|:---|:---|:---|
| | 1 Year | 3 Years | 5 Years | 10 Years |
| Class A | $642 | $817 | $1006 | $1552 |
| Class C – no redemption | $148 | $491 | $857 | $1888 |
| Class C – with redemption | $248 | $491 | $857 | $1888 |
| Class N | $67 | $241 | $430 | $977 |
| Class I | $46 | $177 | $320 | $737 |

---

**Portfolio Turnover.**

The Fund pays transaction costs, such as commissions, when it buys and sells securities (or "turns over" its portfolio). A higher portfolio turnover rate may indicate higher transaction costs and may result in higher taxes when Fund shares are held in a taxable account. These costs, which are not reflected in annual fund operating expenses or in the Example, affect the Fund's performance. The portfolio turnover rate of the Fund for the fiscal year ended June 30, 2025, was 7% of the average value of its portfolio.

Principal Investment Strategies

The Fund seeks to achieve its objective through investments in income-producing securities issued by entities deemed by the Fund's investment adviser, Eventide Asset Management, LLC ("Eventide" or the "Adviser") to be serving well the needs of customers, employees, suppliers, communities, the environment, and society broadly using the Adviser's faith-based screening criteria as more fully described below under "Faith-Based Screening." Income-producing securities that the Fund may invest in include, but are not limited to, corporate bonds; preferred stocks, convertible debt and other hybrid securities that have debt and equity characteristics but are predominantly debt in nature; agency and non-agency residential and commercial mortgage-backed securities; asset-backed securities (including auto loans and leases, equipment loans and leases, and credit cards); green bonds (i.e., bonds that allow issuers to use proceeds for environmental projects); social bonds (i.e., bonds that allow issuers to use proceeds for social projects); sustainable bonds (i.e. bonds that are a combination of green and social bonds); government agency debt instruments; and municipal bonds (collectively, "Bonds"). Under normal circumstances, the Fund invests at least 80% of its net assets (plus borrowings for investment purposes) in Bonds.

---

| | |
|:---|:---|
| **EVENTIDE** | **39** |
| **EVENTIDE** | **39** |

---

---

| | |
|:---|:---|
| **P r o s p e c t u s**  | **N o v e m b e r 1, 2 0 2 5** |

---

Fixed income investments may be of any maturity, but the Fund's weighted average effective portfolio duration will not exceed five years. Duration is a measure of the expected life of a fixed income instrument that is used to determine the sensitivity of a security's price to changes in interest rates. Effective duration is a measure of the Fund's portfolio duration adjusted for the anticipated effect of interest rate changes on bond and mortgage pre-payment rates. The longer a security's duration, the more sensitive it will be to changes in interest rates. The more sensitive a security is to changes in interest rates, the higher its volatility risk. For example, if a bond has a duration of 5 years, a 1% rise in rates would result in approximately a 5% decline in the bond's price. If a bond has a duration of 10 years, a 1% rise in interest rates would result in approximately a 10% decline in the bond's price. The Fund may invest in bonds of any credit quality, including, without limitation, non-investment grade bonds rated below Baa3 by Moody's or below BBB- by S&P (also known as "junk" bonds) but expects to invest predominantly in investment grade securities. With respect to both fixed income and equity securities, the Fund may invest in the securities of foreign entities and may invest in companies of any market capitalization. The Fund may invest in private and other issuers whose securities may have legal or contractual restrictions on resale or are otherwise illiquid ("Illiquid Investments"), which can impact their valuation. The Fund will not invest more than 15% of the Fund's net assets in Illiquid Investments.

**Faith-Based Screening.** The Adviser uses its proprietary screening methodology to analyze all potential investments for the company's ability to operate with integrity and to create value for customers, employees, and other stakeholders by reflecting the values described below. The values assessed in the Adviser's screening process are inspired by the Christian faith and rooted in a biblical worldview. While few companies may reach these ideals in every area of their business, these principles articulate the Adviser's highest expectations for the companies in which the Fund invests. The Adviser uses its screening process in connection with other fundamental research processes to establish the Fund's eligible investment universe. Securities are generally ineligible within the Fund's portfolio unless the Adviser believes that the faith-based screens are met. If the Adviser's research identifies events and/or business changes suggesting that a portfolio company no longer meets the faith-based criteria, the Fund may hold the company's securities while the Adviser performs additional research, including possible direct engagement with the company to assess practices. The Adviser's faith-based screening process for potential investments does not apply relative weights between values-based factors and financial factors. There is no guarantee that the Adviser will be able to successfully screen out all companies that are inconsistent with the following principles which help to guide the Adviser's research and investment framework. Specifically, the Adviser seeks to invest in companies that reflect the following values:

&nbsp;&nbsp;&nbsp;&nbsp;■ Respecting
the value and freedom of all people: this includes the right to life at all stages and freedom from addictive behaviors caused by gambling,
pornography, tobacco, and alcohol.

&nbsp;&nbsp;&nbsp;&nbsp;■ Demonstrating
a concern for justice and peace: this includes fair and ethical relationships with customers, suppliers, and business partners and avoiding
products and services that promote weapons production and proliferation.

&nbsp;&nbsp;&nbsp;&nbsp;■ Promoting
family and community: this includes protecting children from violent forms of entertainment and serving low-income communities.

&nbsp;&nbsp;&nbsp;&nbsp;■ Exhibiting
responsible management practices: this includes fair dealing with employees, communities, competitors, suppliers, and customers as demonstrated
by a company's record regarding litigation, regulatory actions against the company, and its record of providing products and services
that improve the lives of people.

&nbsp;&nbsp;&nbsp;&nbsp;■ Practicing
environmental stewardship: this includes practices considered more sustainable than those of industry peers, reduction in environmental
impact when compared to previous periods, and/or the use of more efficient and cleaner energy sources.

Consistent with the Adviser's values, the Fund may invest in domestic and/or foreign fixed-income securities, such as notes (including standalone notes not rated by any agency), to help fund community development institutions and projects aimed at serving human needs such as those of low-to-moderate income families and communities.

---

| | |
|:---|:---|
| **EVENTIDE** | **40** |
| **EVENTIDE** | **40** |

---

---

| | |
|:---|:---|
| **P r o s p e c t u s**  | **N o v e m b e r 1, 2 0 2 5** |

---

Investments that meet the Adviser's faith-based criteria are analyzed by the Fund's investment sub-adviser, Boyd Watterson Asset Management, LLC (the "Sub-Adviser") for possible inclusion in the Fund's portfolio. The Sub-Adviser builds the Fund's portfolio based on macroeconomic trends and forecasts in economic growth, inflation expectations, and monetary policy. The Sub-Adviser strives to generate excess return through sector allocation (adjusting allocations across major sectors of the bond market based on assessments of fundamentals and current versus historical valuation relationships), duration management (holding securities to optimize interest rates), yield curve positioning (adjusting holdings to capitalize on expected changes in the Treasury yield curve), and security selection. The ability of the Sub-Adviser to deliver returns varies according to the economic and market environment. The Sub-Adviser's methods are intended to accumulate value over a full market cycle.

Securities may be sold when the Adviser or the Sub-Adviser believes that they no longer represent relatively attractive investment opportunities or when the Adviser believes the underlying company's practices are no longer consistent with the Adviser's faith-based values.

Principal Risks of Investing in the Fund

As with any mutual fund, there is no guarantee that the Fund will achieve its objective. Investment markets are unpredictable and there will be certain market conditions where the Fund will not meet its investment objective and will lose money. The Fund's net asset value and returns will vary and you could lose money on your investment in the Fund and those losses could be significant.

The following summarizes the principal risks of investing in the Fund. These risks could adversely affect the net asset value, total return and the value of the Fund and your investment.

**Asset-Backed and Mortgage-Backed Security Risk.** When the Fund invests in asset-backed securities, mortgage-backed securities or collateralized mortgage obligations, the Fund is subject to the risk that, if the issuer fails to pay interest or repay principal, the assets backing these securities may not be sufficient to support payments on the securities.

Mortgage-backed securities represent participating interests in pools of residential mortgage loans, some of which are guaranteed by the U.S. government, its agencies or instrumentalities. However, the guarantee of these types of securities relates to the principal and interest payments and not the market value of such securities. In addition, the guarantee only relates to the mortgage-backed securities held by a Fund and not the purchase of shares of the Fund. Mortgage-backed securities do not have a fixed maturity and their expected maturities may vary when interest rates rise or fall.

Commercial mortgage-backed securities ("CMBS") are subject to credit risk because underlying loan borrowers may default. Subordinate tranches of CMBS are more sensitive to defaults. Previously non-defaulting borrowers may not be able to refinance their loans when due, resulting in higher default rates. CMBS, in general, may become illiquid. Recently, hospitality, retail, and office properties have become subject to heightened vacancy rates and an accompanying increase in the risk of default.

Mortgage-backed securities issued or guaranteed by private issuers are also known as "non-agency MBS." Non-agency MBS generally are a greater credit risk than MBS issued by the U.S. government, and the market for non-agency MBS is smaller and may be less liquid that the market for government MBS.

---

| | |
|:---|:---|
| **EVENTIDE** | **41** |
| **EVENTIDE** | **41** |

---

---

| | |
|:---|:---|
| **P r o s p e c t u s**  | **N o v e m b e r 1, 2 0 2 5** |

---

**Convertible Securities Risk.** Convertible securities are hybrid securities that have characteristics of both fixed income and equity securities, and are therefore subject to the risks associated with both fixed income and equity securities. The market value of convertible securities and other debt securities tends to fall when prevailing interest rates rise. The market value of convertible securities also tends to change whenever the market value of the underlying common or preferred stock fluctuates.

**Credit Risk.** Credit risk is the risk that an issuer of a security will fail to pay principal and interest in a timely manner, reducing the Fund's total return. The Fund may invest in high-yield, unrated or otherwise high-risk securities, commonly called "junk bonds," that are not investment grade and are generally considered speculative because they present a greater risk of loss, including default, than higher quality debt securities.

**Duration Risk.** Longer-term securities may be more sensitive to interest rate changes. Rising interest rates pose a heightened risk to the Fund's longer-term fixed income securities. Effective duration estimates price changes for relatively small changes in rates. If rates rise significantly, effective duration may tend to understate the drop in a security's price. If rates drop significantly, effective duration may tend to overstate the rise in a security's price.

**Ethical Investment Risk**. The Fund's ethical values screening criteria could cause it to underperform similar funds that do not have such screening criteria. This could be due to ethically acceptable companies falling out of favor with investors or failing to perform as well as companies that do not meet the Fund's ethical screening guidelines.

To supplement its efforts in ethical investing, the Adviser may engage with portfolio companies to encourage consideration of corporate strategies aligned with the Adviser's values, including pricing and/or business practices that may be beneficial within particular industries. The Adviser believes these activities will help promote ethical and effective corporate governance and long-term strategy for companies, and potentially create a positive effect on the particular businesses and/or industries, their consumers, and the Fund. There is no guarantee that the Adviser's corporate engagements and related-activities will achieve their intended results. There is a risk that the Adviser's activities in this regard could limit the Fund's investment universe and reduce the amount of profits that could be realized by affected companies, limiting the Fund's investment returns. Furthermore, the U.S. government or any agency thereof, may enact rules or legislation that, directly or indirectly, materially impacts the Adviser's activities in this regard, or materially affects the value of companies or opportunities for investment within particular industries.

**Extension Risk.** If interest rates rise, repayments of principal on certain debt securities, including, but not limited to, floating rate loans and mortgage-related securities, may occur at a slower rate than expected and the expected maturity of those securities could lengthen as a result. Securities that are subject to extension risk generally have a greater potential for loss when prevailing interest rates rise, which could cause their values to fall sharply.

**Fixed Income Risk.** When the Fund invests in fixed income securities, the value of your investment in the Fund will fluctuate with changes in interest rates. Typically, a rise in interest rates causes a decline in the value of fixed income securities owned by the Fund. In general, the market price of fixed income securities with longer maturities will increase or decrease more in response to changes in interest rates than shorter-term securities. Federal Reserve policy changes may expose fixed-income and related markets to heightened volatility and may reduce liquidity for certain Fund investments, which could cause the value of the Fund's investments and share price to decline. Other risk factors include credit risk (the debtor may default), extension risk (an issuer may exercise its right to repay principal on a fixed rate obligation held by the Fund later than expected), and prepayment risk (the debtor may pay its obligation early, reducing the amount of interest payments). These risks could affect the value of a particular investment by the Fund, possibly causing the Fund's share price and total return to be reduced and fluctuate more than other types of investments.

---

| | |
|:---|:---|
| **EVENTIDE** | **42** |
| **EVENTIDE** | **42** |

---

---

| | |
|:---|:---|
| **P r o s p e c t u s**  | **N o v e m b e r 1, 2 0 2 5** |

---

**Foreign Securities Risk.** Since the Fund's investments may include ADRs and foreign securities, the Fund is subject to risks beyond those associated with investing in domestic securities. The value of foreign securities is subject to currency fluctuations. Foreign companies are generally not subject to the same regulatory requirements as U.S. companies thereby resulting in less publicly available information about these companies. In addition, foreign investing involves other risks not typically associated with U.S. investments, including adverse political, social and economic developments, less liquidity, greater volatility, less developed or less efficient trading markets, political instability and differing accounting, auditing, financial reporting and legal standards.

**Income Risk.** Income risk is the risk that the income from the Fund's portfolio will decline because of falling market interest rates. This can result when the Fund invests the proceeds from new share sales, or from matured or called bonds, at market interest rates that are below the portfolio's current earnings rate.

**Interest Rate Risk.** Changes in short-term market interest rates will directly affect the yield on the shares of a fund whose investments are normally invested in floating rate debt. If short-term market interest rates fall, the yield on the Fund's shares will also fall. Conversely, when short-term market interest rates rise, because of the lag between changes in such short-term rates and the resetting of the floating rates on the floating rate debt in the Fund's portfolio, the impact of rising rates will be delayed to the extent of such lag. Rising interest rates pose a heightened risk to any longer-term fixed income securities held by the Fund.

**Junk Bond Risk.** Lower-quality or unrated bonds, known as "high yield" or "junk" bonds, present greater risk than bonds of higher quality, including an increased risk of default. An economic downturn or period of rising interest rates could adversely affect the market for these bonds and reduce the Fund's ability to sell its bonds. The lack of a liquid market for these bonds could decrease the Fund's share price.

**Large Capitalization Company Risk.** Large capitalization companies may be less able than smaller capitalization companies to adapt to changing market conditions. Large capitalization companies may be more mature and subject to more limited growth potential compared with smaller capitalization companies. During different market cycles, the performance of large capitalization companies has trailed the overall performance of the broader securities markets.

**Liquidity Risk.** Some investments held by the Fund may be difficult to sell, or illiquid, particularly during times of market turmoil. Illiquid investments may also lack a readily observable or market-corroborated price and be difficult to value. If the Fund is forced to sell an illiquid asset to meet redemption requests or other cash needs, the Fund may be forced to sell at an unexpected loss.

**Management Risk.** The portfolio managers' judgments about the attractiveness, value and potential appreciation of particular securities in which the Fund invests may prove to be incorrect, and there is no guarantee that the portfolio managers' judgment will produce the desired results.

**Market Risk.** Overall stock or bond market risks may also affect the value of the Fund. Factors such as domestic and/or foreign economic growth and market conditions, interest rate levels, political events and terrorism affect the securities markets.

---

| | |
|:---|:---|
| **EVENTIDE** | **43** |
| **EVENTIDE** | **43** |

---

---

| | |
|:---|:---|
| **P r o s p e c t u s**  | **N o v e m b e r 1, 2 0 2 5** |

---

**Medium (Mid) Capitalization Company Risk.** To the extent the Fund invests in the stocks of mid-sized companies, the Fund may be subject to additional risks. The earnings and prospects of these companies are more volatile than larger companies. These companies may experience higher failure rates than larger companies. Mid-sized companies normally have a lower trading volume than larger companies, which may tend to make their market price fall more disproportionately than larger companies in response to selling pressures. Mid-sized companies may also have limited markets, product lines or financial resources and may lack management experience.

**Municipal Bond Risk.** The value of municipal bonds may fluctuate as a result of changes in the cash flows generated by the revenue source(s), changes in the priority of the municipal obligation to receive the cash flows generated by the revenue source(s), or changes in federal tax laws or the activity of an issuer which may adversely affect the tax-exempt status of municipal bonds.

**Preferred Stock Risk.** Dividends on preferred stocks are generally payable at the discretion of the issuer's board of directors and Fund shareholders may lose money if dividends are not paid. Preferred stock prices may fall if interest rates rise or the issuer's creditworthiness becomes impaired.

**Prepayment Risk.** The Fund may invest in debt securities that may be paid off early when the issuer of a debt security can repay the principal prior to a security's maturity. If interest rates are falling, the Fund may have to reinvest the unanticipated proceeds at lower interest rates, resulting in a decline in the Fund's income.

**Security Risk.** The value of the Fund may decrease in response to the activities and financial prospects of individual securities or group of securities in the Fund's portfolio. There can be no guarantee the securities held by the Fund will appreciate in value.

**Small Capitalization Company Risk.** Smaller-sized companies may experience higher failure rates than larger companies and normally have a lower trading volume than larger companies, which may tend to make their market price fall more disproportionately than larger companies in response to selling pressures and companies may have limited markets, product lines or financial resources and lack management experience.

**Sovereign Debt Risk.** The Fund may invest in sovereign debt obligations. Investment in sovereign debt obligations involves special risks not present in corporate debt obligations. The issuer of the sovereign debt or the governmental authorities that control the repayment of the debt may be unable or unwilling to repay principal or interest when due, and the Fund may have limited recourse in the event of a default.

**U.S. Government Obligations Risk.** The Fund's investments in securities issued or guaranteed by federal agencies and U.S. government sponsored entities may or may not be backed by the full faith and credit of the U.S. government.

---

| | |
|:---|:---|
| **EVENTIDE** | **44** |
| **EVENTIDE** | **44** |

---

---

| | |
|:---|:---|
| **P r o s p e c t u s**  | **N o v e m b e r 1, 2 0 2 5** |

---

Performance

The bar chart and performance table below show the variability of the Fund's returns, which is some indication of the risks of investing in the Fund. The bar chart shows performance of the Fund's Class A shares for the past ten years and includes the performance of the Fund's Predecessor Fund (as defined below). Although Class C, Class N and Class I shares have similar annual returns to Class A shares because the classes are invested in the same portfolio of securities, the returns for Class C, Class N and Class I shares are different than Class A shares because Class C, Class N and Class I shares have different expenses than Class A shares. The performance table compares the performance of the Fund's Class A, Class C, Class N and Class I shares over time to the performance of a broad-based market index and a supplemental index (strategy benchmark) that the Adviser believes is more representative of the Fund's investment universe. You should be aware that the Fund's past performance (before and after taxes) may not be an indication of how the Fund will perform in the future.

The Fund acquired all of the assets and liabilities of Epiphany FFV Strategic Income Fund, a series of Epiphany Funds (the "Predecessor Fund"), in a tax-free reorganization on December 14, 2018. In connection with this acquisition, shares of the Predecessor Fund's Class A Shares and Class I Shares were exchanged for Class A Shares and Class I Shares of the Fund, respectively. Prior to May 31, 2017, the Predecessor Fund's Class I shares were called Class C shares, and the fee structure was different. The Predecessor Fund had an investment objective and strategies that were, in all material respects, the same as those of the Fund, and was managed in a manner that, in all material respects, complied with the investment guidelines and restrictions of the Fund. The performance information set forth below prior to December 14, 2018, reflects the historical performance of the Predecessor Fund. Updated performance information is available at no cost by calling 1-877-771-3836 and on the Fund's website at <u>www.eventidefunds.com</u>.

Eventide Limited-Term Bond Fund Class A Annual Total Returns for the Years Ended December 31

![(BAR GRAPH)](ev006_v1.jpg)

Figures do not reflect sales charges. If they did, returns would be lower.

During the period shown in the bar chart, the highest return for a quarter was 3.54% (quarter ended December 31, 2023), and the lowest return for a quarter was (3.39)% (quarter ended March 31, 2022). The Fund's Class A year-to-date return as of September 30, 2025, was 4.85%.

Prior to May 31, 2017, the Fund's Class I shares were called Class C shares, and the fee structure was different. Those shares sold before May 31, 2017, were subject to a contingent deferred sales load, which is not reflected in returns set forth in the table below. If the contingent deferred sales load was included, the returns would be less than those shown.

---

| | |
|:---|:---|
| **EVENTIDE** | **45** |
| **EVENTIDE** | **45** |

---

---

| | |
|:---|:---|
| **P r o s p e c t u s**  | **N o v e m b e r 1, 2 0 2 5** |

---

---

| | | | |
|:---|:---|:---|:---|
| **Average Annual Total Returns** *(for the periods ended December 31, 2024)<br> Class A Shares* | *1 Year* | *5 Years* | *10 Years* |
| Return Before Taxes | (2.38)% | (0.19)% | 0.88% |
| Return After Taxes on Distributions | (3.66)% | (0.90)% | 0.10% |
| Return After Taxes on Distributions and Sale of Fund Shares | (1.42)% | (0.44)% | 0.33% |
| *Class I Shares* | | | |
| Return Before Taxes | 3.90% | 1.25% | 1.49% |
| *Class C Shares* | *1 Year* | *5 Years* | *Since inception<br> (12/14/2018)* |
| Return Before Taxes | 2.88% | 0.25% | 1.11% |
| *Class N Shares* | | | |
| Return Before Taxes | 3.69% | 1.04% | 1.91% |
| | *1 Year* | *5 Years* | *10 Years* |
| Bloomberg U.S. Aggregate Bond Index (reflects no deduction for fees, expenses or taxes) | 1.25% | (0.33)% | 1.35% |
| | | | *Since inception<br> (12/14/2018)* |
|  |  |  | 1.27% |
| Bloomberg 1-5 Year Government/Credit Index (reflects no deduction for fees, expenses or taxes) | 3.76% | 1.29% | 1.66% |
| | | | *Since inception<br> (12/14/2018)* |
|  |  |  | 2.00% |

---

After-tax returns are calculated using the highest historical individual federal marginal income tax rate and do not reflect the impact of state and local taxes. Actual after-tax returns depend on a shareholder's tax situation and may differ from those shown. After-tax returns are not relevant for shareholders who hold Fund shares in tax-deferred accounts or to shares held by non-taxable entities. After-tax returns are only shown for Class A shares. After-tax returns for Class C, Class N and Class I shares will vary.

**Adviser.** Eventide Asset Management, LLC is the Fund's investment adviser.

**Sub-Adviser.** Boyd Watterson Asset Management, LLC is the Fund's investment sub-adviser.

**Portfolio Managers.** Christopher Grogan, CFA, Director of Investment Consulting and Portfolio Manager of the Adviser, serves as a Co-Portfolio Manager of the Fund. Mr. Grogan has served the Fund in this capacity since April 2023. Mr. Grogan provides oversight of the Sub-Adviser and manages those assets allocated to domestic and/or foreign fixed-income securities to help fund community development institutions and projects aimed at serving human needs such as those of low-to-moderate income families and communities. The Sub-Adviser manages assets of the Fund at the direction of the Adviser.

David M. Dirk, CFA, Director of Portfolio Management and Trading of the Sub-Adviser, has served as a Co-Portfolio Manager of the Fund since May 2020.

Mr. Grogan and Mr. Dirk are jointly and primarily responsible for the day-to-day management of the Fund.

---

| | |
|:---|:---|
| **EVENTIDE** | **46** |
| **EVENTIDE** | **46** |

---

---

| | |
|:---|:---|
| **P r o s p e c t u s**  | **N o v e m b e r 1, 2 0 2 5** |

---

**Purchase and Sale of Fund Shares.** The minimum initial investment in Class A, Class C and Class N Shares of the Fund, as well as Class I shares purchased directly from the Fund, is $1,000 for a regular account and for an IRA account, or $100 for an automatic investment plan account. The minimum initial investment in Class I shares purchased through a financial intermediary is $100,000 for all accounts. You may purchase and redeem shares of the Fund on any day that the New York Stock Exchange is open. Redemptions requests may be made in writing, online, by telephone or through a financial intermediary to the Fund or the Fund's transfer agent and will be paid by check or wire transfer.

**Tax Information.** Dividends and capital gain distributions you receive from the Fund, whether you reinvest your distributions in additional Fund shares or receive them in cash, are taxable to you at either ordinary income or capital gains tax rates unless you are investing through a tax-deferred plan. If you are investing in a tax-deferred plan, distributions may be taxable upon withdrawal from the plan.

**Payments to Broker-Dealers and Other Financial Intermediaries.** If you purchase the Fund through a broker-dealer or other financial intermediary (such as a bank), the Fund and its related companies may pay the intermediary for the sale of Fund shares and related services. These payments may create a conflict of interest by influencing the broker-dealer or other intermediary and your salesperson to recommend the Fund over another investment. Ask your salesperson or visit your financial intermediary's website for more information.

---

| | |
|:---|:---|
| **EVENTIDE** | **47** |
| **EVENTIDE** | **47** |

---

---

| | |
|:---|:---|
| **P r o s p e c t u s**  | **N o v e m b e r 1, 2 0 2 5** |

---

<u>Eventide Exponential Technologies Fund</u> <u>Fund Summary</u>

**Investment Objective.**

The Eventide Exponential Technologies Fund (the "Exponential Technologies Fund" or the "Fund") seeks to provide long-term capital appreciation.

**Fees and Expenses of the Fund.**

The tables describe the fees and expenses that you may pay if you buy, hold, and sell shares of the Fund. **You may pay other fees, such as brokerage commissions and other fees to financial intermediaries, which are not reflected in the table and Example below.** You may qualify for sales charge discounts on purchases of Class A shares if you and your family invest, or agree to invest in the future, at least $50,000 in the Fund. More information about these and other discounts is available from your financial professional and is included in the section of the Fund's prospectus entitled **How to Buy Shares** on page 114 and **Appendix A – Intermediary-Specific Sales Charge Reductions and Waivers**, and in the sections of the Fund's Statement of Additional Information entitled **Reduction of Up-Front Sales Charge on Class A Shares** on page 70, and **Waivers of Up-Front Sales Charge on Class A Shares** on page 71.

---

| | | | | |
|:---|:---|:---|:---|:---|
| **Shareholder Fees***<br> Fees paid directly from your investment* | *Class A* | *Class C* | *Class N* | *Class I* |
| Maximum Sales Charge<br> (Load) Imposed on Purchases (as a % of offering price) | 5.75% |  |  |  |
| Maximum Deferred Sales Charge (Load) <br> (as a % of the lesser of the NAV of the shares redeemed or the original purchase price) | 1.00%<sup>1</sup> | 1.00%<sup>2</sup> |  |  |
| Maximum Sales Charge (Load) Imposed <br> on Reinvested Dividends and other Distributions |  |  |  |  |
| Redemption Fee (as a % of amount redeemed if held less than 180 days) |  |  |  |  |
| Redemption Fee for Shares Redeemed by Wire Transfer | $15 | $15 | $15 | $15 |

---

---

| | | | | |
|:---|:---|:---|:---|:---|
| **Annual Fund Operating Expenses***<br> Expenses that you pay each year as a percentage of the value of your investment* | | | | |
| Management Fees<sup>3</sup> | 0.95% | 0.95% | 0.95% | 0.95% |
| Distribution and/or Service (12b-1) Fees | 0.25% | 1.00% | 0.20% |  |
| Other Expenses | 0.59% | 0.59% | 0.59% | 0.59% |
| Total Annual Fund Operating Expenses<sup>3</sup> | 1.79% | 2.54% | 1.74% | 1.54% |
| Fee Waiver and/or Expense Reimbursement<sup>3,4</sup> | (0.19)% | (0.19)% | (0.19)% | (0.19)% |
| Total Annual Fund Operating Expenses After Fee Waiver and/or Expense Reimbursement<sup>3,4</sup> | 1.60% | 2.35% | 1.55% | 1.35% |

---

1. The
maximum deferred sales charge on Class A shares (as a % of NAV at the time of purchase) applies only to purchases of $250,000 or more
and applies to shares sold within 18 months of purchase.

2. The
maximum deferred sales charge on Class C shares (as a % of the lesser of NAV of the shares redeemed or the original purchase price) applies
to shares sold within 12 months of purchase.

3. Restated
to reflect current fees.

4. The
Fund's adviser has contractually agreed to waive fees and/or reimburse expenses of the Fund to the extent necessary to limit operating
expenses (excluding front-end or contingent deferred loads, taxes, leverage interest, brokerage commissions, expenses incurred in connection
with any merger or reorganization, dividend expense on securities sold short, underlying fund fees and expenses or extraordinary expenses
such as litigation) at 1.60%, 2.35%, 1.55% and 1.35% for Class A shares, Class C shares, Class N shares, and Class I shares, respectively,
through October 31, 2026 . This agreement may only be terminated by the Trust's Board of Trustees on 60 days' written notice
to the adviser and upon the termination of the advisory agreement between the Trust and the adviser. Fee waivers and expense reimbursements
are subject to possible recoupment by the adviser from the Fund in future years on a rolling three-year basis (within the three years
after the fees have been waived or reimbursed) if, after the recoupment is taken into account, such recoupment can be achieved within
the lesser of the expense limitation in place at the time of waiver/reimbursement and the expense limitation in place at the time of
recapture.

---

| | |
|:---|:---|
| **EVENTIDE** | **48** |
| **EVENTIDE** | **48** |

---

---

| | |
|:---|:---|
| **P r o s p e c t u s**  | **N o v e m b e r 1, 2 0 2 5** |

---

**Example of Hypothetical Fund Costs.**

This Example is intended to help you compare the cost of investing in the Fund with the cost of investing in other mutual funds.

The Example assumes that you invest $10,000 in the Fund for the time periods indicated and then hold or redeem all of your shares at the end of those periods. The Example only accounts for the Fund's expense limitation in place through its expiration period, October 31, 2026, and then depicts the Fund's total annual expenses thereafter. The Example also assumes that your investment has a 5% return each year and that the Fund's operating expenses remain the same. Although your actual costs may be higher or lower, based on these assumptions your costs would be:

---

| | | | | |
|:---|:---|:---|:---|:---|
| | 1 Year | 3 Years | 5 Years | 10 Years |
| Class A | $728 | $1089 | $1472 | $2544 |
| Class C – no redemption | $238 | $772 | $1333 | $2861 |
| Class C – with redemption | $338 | $772 | $1333 | $2861 |
| Class N | $158 | $530 | $926 | $2036 |
| Class I | $137 | $468 | $821 | $1818 |

---

**Portfolio Turnover.**

The Fund pays transaction costs, such as commissions, when it buys and sells securities (or "turns over" its portfolio). A higher portfolio turnover rate may indicate higher transaction costs and may result in higher taxes when Fund shares are held in a taxable account. These costs, which are not reflected in annual fund operating expenses or in the Example, affect the Fund's performance. The portfolio turnover rate of the Fund for the fiscal year ended June 30, 2025, was 126% of the average value of its portfolio.

Principal Investment Strategies

Under normal market conditions, the Fund invests at least 80% of its net assets (plus borrowings for investment purposes) in companies that the Fund's investment adviser, Eventide Asset Management, LLC ("Eventide" or the "Adviser") believes are participating in and benefitting from technologies, innovations, technology themes, or technology trends. The types of companies represented in the Fund's portfolio include, but are not limited to, companies falling within the information technology, internet media and services, healthcare technology, healthcare devices, or financial technology (i.e., Fintech) industries. The Fund invests primarily in companies that the Adviser believes are participating in and benefitting from technologies, innovations, themes, or trends that have long-term exponential characteristics and that serve well the needs of customers, employees, suppliers, communities, the environment, and society broadly using the Adviser's faith-based screening criteria as more fully described below under "Faith-Based Screening." The term "exponential" means the potential for accelerated advancements in technologies that can positively impact capabilities and development cycles of a company's products and services. Not every company in the Fund's portfolio will experience exponential growth, and the Fund is not expected to deliver exponential returns.

---

| | |
|:---|:---|
| **EVENTIDE** | **49** |
| **EVENTIDE** | **49** |

---

---

| | |
|:---|:---|
| **P r o s p e c t u s**  | **N o v e m b e r 1, 2 0 2 5** |

---

The Adviser utilizes a fundamental "bottom-up" analysis and quantitative screening to find and evaluate investments for the Fund's portfolio. The Adviser seeks attractively valued securities that, in its opinion, represent above-average long-term investment opportunities or have significant near-term appreciation potential. The Adviser's investment opportunity screening considers strong organic revenue growth, growing market share, superior unit economics (e.g., considering metrics and lifecycles unique to particular businesses), defensible competitive advantages and quality management teams. Valuation is an integral part of the investment process and purchase decisions are based on the potential reward relative to risk of each security which, in turn, is partly based on the Adviser's earnings calculations.

The Fund gains exposure to technology companies primarily through investing in equity securities including common stock, options, and preferred stock. The Fund may invest in private and other issuers whose securities may have legal or contractual restrictions on resale or are otherwise illiquid, which can impact their valuation. The Fund will not invest more than 15% of the Fund's net assets in these illiquid investments. These companies include development stage companies that have not commenced business operations or have not generated significant revenue. The Fund invests without limitation in securities of companies domiciled outside the United States either directly or through American Depositary Receipts ("ADRs"). The Fund may invest in securities of companies of any market capitalization.

The Adviser uses options strategies to enhance returns, generate income, reduce portfolio volatility, or reduce downside risk when the Adviser believes adverse market, political or other conditions are likely. The Adviser may also utilize a combination of puts and/or calls regarding the same security or puts and calls on related securities.

The Fund is classified as "non-diversified" for purposes of the Investment Company Act of 1940, as amended (the "1940 Act"), which means that it is not limited by the 1940 Act with regard to the portion of its assets that may be invested in the securities of a single issuer. The Fund concentrates investments in the software, technology hardware and equipment, semiconductor, and communications group of industries because, under normal circumstances, it invests over 25% of its net assets in companies in this group of industries.

**Faith-Based Screening.** The Adviser uses its proprietary screening methodology to analyze all potential investments for the company's ability to operate with integrity and to create value for customers, employees, and other stakeholders by reflecting the values described below. The values assessed in the Adviser's screening process are inspired by the Christian faith and rooted in a biblical worldview. While few companies may reach these ideals in every area of their business, these principles articulate the Adviser's highest expectations for the companies in which the Fund invests. The Adviser uses its screening process in connection with other fundamental research processes to establish the Fund's eligible investment universe. Securities are generally ineligible within the Fund's portfolio unless the Adviser believes that the faith-based screens are met. If the Adviser's research identifies events and/or business changes suggesting that a portfolio company no longer meets the faith-based criteria, the Fund may hold the company's securities while the Adviser performs additional research, including possible direct engagement with the company to assess practices. The Adviser's faith-based screening process for potential investments does not apply relative weights between values-based factors and financial factors. There is no guarantee that the Adviser will be able to successfully screen out all companies that are inconsistent with the following principles which help to guide the Adviser's research and investment framework. Specifically, the Adviser seeks to invest in companies that reflect the following values:

&nbsp;&nbsp;&nbsp;&nbsp;■ Respecting
the value and freedom of all people: this includes the right to life at all stages and freedom from addictive behaviors caused by gambling,
pornography, tobacco, and alcohol.

&nbsp;&nbsp;&nbsp;&nbsp;■ Demonstrating
a concern for justice and peace: this includes fair and ethical relationships with customers, suppliers, and business partners and avoiding
products and services that promote weapons production and proliferation.

---

| | |
|:---|:---|
| **EVENTIDE** | **50** |
| **EVENTIDE** | **50** |

---

---

| | |
|:---|:---|
| **P r o s p e c t u s**  | **N o v e m b e r 1, 2 0 2 5** |

---

&nbsp;&nbsp;&nbsp;&nbsp;■ Promoting
family and community: this includes protecting children from violent forms of entertainment and serving low-income communities.

&nbsp;&nbsp;&nbsp;&nbsp;■ Exhibiting
responsible management practices: this includes fair dealing with employees, communities, competitors, suppliers, and customers as demonstrated
by a company's record regarding litigation, regulatory actions against the company, and its record of providing products and services
that improve the lives of people.

&nbsp;&nbsp;&nbsp;&nbsp;■ Practicing
environmental stewardship: this includes practices considered more sustainable than those of industry peers, reduction in environmental
impact when compared to previous periods, and/or the use of more efficient and cleaner energy sources.

Consistent with the Adviser's values, the Fund may invest in domestic and/or foreign fixed-income securities, such as notes (including standalone notes not rated by any agency), to help fund community development institutions and projects aimed at serving human needs such as those of low-to-moderate income families and communities.

Securities may be sold when the Adviser believes that they no longer represent relatively attractive investment opportunities or when the Adviser believes the underlying company's practices are no longer consistent with the Adviser's faith-based values.

Principal Risks of Investing in the Fund

As with any mutual fund, there is no guarantee that the Fund will achieve its objective. Investment markets are unpredictable and there will be certain market conditions where the Fund will not meet its investment objective and will lose money. The Fund's net asset value and returns will vary and you could lose money on your investment in the Fund and those losses could be significant.

The following summarizes the principal risks of investing in the Fund. These risks could adversely affect the net asset value, total return and the value of the Fund and your investment.

**ADRs Risk.** ADRs, which are typically issued by a bank, are certificates that evidence ownership of shares of a foreign company and are alternatives to purchasing foreign securities directly in their national markets and currencies. ADRs are subject to the same risks as direct investment in foreign companies and involve risks that are not found in investments in U.S. companies. Although an ADR is priced in the U.S. dollar, movements in the exchange rate of the local currency versus the U.S. dollar are automatically reflected in the price of the ADR in U.S. dollars. Therefore, even if the price of the foreign security does not change on its market, if the exchange rate of the local currency relative to the U.S. dollar declines, the ADR price would decline by a similar measure.

**Convertible Securities Risk.** Convertible securities are hybrid securities that have characteristics of both fixed income and equity securities, and are therefore subject to the risks associated with both fixed income and equity securities. The market value of convertible securities and other debt securities tends to fall when prevailing interest rates rise. The market value of convertible securities also tends to change whenever the market value of the underlying common or preferred stock fluctuates.

**Development Stage Company Risk.** The Fund may invest a portion of the portfolio in development stage companies that are not generating meaningful revenue.

---

| | |
|:---|:---|
| **EVENTIDE** | **51** |
| **EVENTIDE** | **51** |

---

---

| | |
|:---|:---|
| **P r o s p e c t u s**  | **N o v e m b e r 1, 2 0 2 5** |

---

**Equity Security Risk.** Common and preferred stocks are susceptible to general stock market fluctuations and to volatile increases and decreases in value as market confidence in and perceptions of their issuers change. Warrants and rights may expire worthless if the price of a common stock is below the conversion price of the warrant or right. Convertible bonds may decline in value if the price of a common stock falls below the conversion price. Investor perceptions are based on various and unpredictable factors, including expectations regarding government, economic, monetary and fiscal policies; inflation and interest rates; economic expansion or contraction and global or regional political, economic and banking crises.

**Ethical Investment Risk.** The Fund's ethical values screening criteria could cause it to underperform similar funds that do not have such screening criteria. This could be due to ethically acceptable companies falling out of favor with investors or failing to perform as well as companies that do not meet the Fund's ethical screening guidelines.

To supplement its efforts in ethical investing, the Adviser may engage with portfolio companies to encourage consideration of corporate strategies aligned with the Adviser's values, including pricing and/or business practices that may be beneficial within particular industries. The Adviser believes these activities will help promote ethical and effective corporate governance and long-term strategy for companies, and potentially create a positive effect on the particular businesses and/or industries, their consumers, and the Fund. There is no guarantee that the Adviser's corporate engagements and related-activities will achieve their intended results. There is a risk that the Adviser's activities in this regard could limit the Fund's investment universe and reduce the amount of profits that could be realized by affected companies, limiting the Fund's investment returns. Furthermore, the U.S. government or any agency thereof, may enact rules or legislation that, directly or indirectly, materially impacts the Adviser's activities in this regard, or materially affects the value of companies or opportunities for investment within particular industries.

**Foreign Securities Risk.** Since the Fund's investments may include ADRs and foreign securities, the Fund is subject to risks beyond those associated with investing in domestic securities. The value of foreign securities is subject to currency fluctuations. Foreign companies are generally not subject to the same regulatory requirements as U.S. companies thereby resulting in less publicly available information about these companies. In addition, investing involves other risks not typically associated with U.S. investments, including adverse political, social and economic developments, less liquidity, greater volatility, less developed or less efficient trading markets, political instability and differing accounting, auditing, financial reporting and legal standards.

**Growth Stock Risk.** Not all companies in the Fund's portfolio will experience growth. "Growth" stocks can react differently to issuer, political, market, and economic developments than the market as a whole and other types of stocks. "Growth" stocks also tend to be more expensive relative to their earnings or assets compared to other types of stocks. As a result, "growth" stocks tend to be sensitive to changes in their earnings and more volatile in price than the stock market as a whole. In addition, companies that the Adviser believes have significant growth potential are often companies with new, limited or cyclical product lines, markets or financial resources and the management of such companies may be dependent upon one or a few key people. The stocks of such companies can therefore be subject to more abrupt or erratic market movements than stocks of larger, more established companies or the stock market in general.

**Industry Concentration Risk.** The Fund may be susceptible to an increased risk of loss, including losses due to adverse occurrences affecting the Fund more than the market as a whole, because the Fund's investments are concentrated in technology industries.

---

| | |
|:---|:---|
| **EVENTIDE** | **52** |
| **EVENTIDE** | **52** |

---

---

| | |
|:---|:---|
| **P r o s p e c t u s**  | **N o v e m b e r 1, 2 0 2 5** |

---

**Investment Style Risk.** Different types of investment styles, for example growth or value, tend to perform differently and shift into and out of favor with investors depending on changes in market and economic sentiment and conditions. As a result, the Fund's performance may at times be worse than the performance of other mutual funds that invest more broadly or that have different investment styles.

**Junk Bond Risk.** Lower-quality or unrated bonds, known as "high yield" or "junk" bonds, present greater risk than bonds of higher quality, including an increased risk of default. An economic downturn or period of rising interest rates could adversely affect the market for these bonds and reduce the Fund's ability to sell its bonds. The lack of a liquid market for these bonds could decrease the Fund's share price.

**Large Capitalization Company Risk.** Large capitalization companies may be less able than smaller capitalization companies to adapt to changing market conditions. Large capitalization companies may be more mature and subject to more limited growth potential compared with smaller capitalization companies. During different market cycles, the performance of large capitalization companies has trailed the overall performance of the broader securities markets.

**Liquidity Risk.** Some investments held by the Fund may be difficult to sell, or illiquid, particularly during times of market turmoil. Illiquid investments may also lack a readily observable or market-corroborated price and be difficult to value. If the Fund is forced to sell an illiquid asset to meet redemption requests or other cash needs, the Fund may be forced to sell at an unexpected loss.

**Management Risk.** The portfolio managers' judgments about the attractiveness, value and potential appreciation of particular securities in which the Fund invests may prove to be incorrect, and there is no guarantee that the portfolio managers' judgments will produce the desired results. "Exponential" in the Fund's name is not intended to suggest exponential returns or any level of returns.

**Market Risk.** Overall stock or bond market risks may also affect the value of the Fund. Factors such as domestic and/or foreign economic growth and market conditions, interest rate levels, political events and terrorism affect the securities markets.

**Medium (Mid) Capitalization Company Risk.** To the extent the Fund invests in the stocks of mid-sized companies, the Fund may be subject to additional risks. The earnings and prospects of these companies are more volatile than larger companies. These companies may experience higher failure rates than larger companies. Mid-sized companies normally have a lower trading volume than larger companies, which may tend to make their market price fall more disproportionately than larger companies in response to selling pressures. Mid-sized companies may also have limited markets, product lines or financial resources and may lack management experience.

**Non-Diversification Risk.** Because a relatively high percentage of a non-diversified fund's assets may be invested in the securities of a limited number of companies that could be in the same or related economic sectors, the Fund's portfolio may be more susceptible to any single economic, technological or regulatory occurrence than the portfolio of a diversified fund.

---

| | |
|:---|:---|
| **EVENTIDE** | **53** |
| **EVENTIDE** | **53** |

---

---

| | |
|:---|:---|
| **P r o s p e c t u s**  | **N o v e m b e r 1, 2 0 2 5** |

---

**Options Market Risk.** Markets for options and options on futures may not always operate on a fair and orderly basis. At times, prices for options and options on futures may not represent fair market value and prices may be subject to manipulation, which may be extreme under some circumstances. The dysfunction and manipulation of volatility and options markets may make it difficult for the Fund to effectively implement its investment strategy and achieve its objectives and could potentially lead to significant losses.

**Options Risk.** As the seller (writer) of a covered call option, the Fund assumes the risk of a decline in the market price of the underlying security below the purchase price of the underlying security less the premium received and gives up the opportunity for gain on the underlying security above the exercise option price because the Fund will no longer hold the underlying security. As the buyer of a put or call option, the Fund risks losing the entire premium invested in the option if the Fund does not exercise the option. As the seller (writer) of a put option, the Fund will lose money if the value of the security falls below the strike price. The use of derivative instruments, such as options, involves risks different from, or possibly greater than, the risks associated with investing directly in securities and other traditional investments, including the risk that the counterparty to an options transaction may not fulfill its contractual obligations.

**Preferred Stock Risk.** Dividends on preferred stocks are generally payable at the discretion of the issuer's board of directors and Fund shareholders may lose money if dividends are not paid. Preferred stock prices may fall if interest rates rise or the issuer's creditworthiness becomes impaired.

**Sector Exposure Risk.** The Fund may focus its investments in securities of a particular sector. Economic, legislative or regulatory developments may occur that significantly affect the sector. This may cause the Fund's net asset value to fluctuate more than that of a fund that does not focus in a particular sector.

**Security Risk.** The value of the Fund may decrease in response to the activities and financial prospects of an individual security or group of securities in the Fund's portfolio. There can be no guarantee the securities held by the Fund will appreciate in value.

**Small Capitalization Company Risk.** Smaller-sized companies may experience higher failure rates than larger companies and normally have a lower trading volume than larger companies, which may tend to make their market price fall more disproportionately than larger companies in response to selling pressures and companies may have limited markets, product lines or financial resources and lack management experience.

**Stock Value Risk.** Stocks involve the risk that they may never reach what the Adviser believes is their full market value, either because the market fails to recognize the stock's intrinsic worth, or the Adviser misgauged that worth. Stocks also may decline in price, even though, in theory, they are already undervalued. Investments in private companies that lack readily observable or market-corroborated prices generally increase stock valuation risk because they are more difficult to value. Many private companies are not required to file periodic financial reports, leading to challenges in the Adviser's ability to evaluate a company's business prospects and the fair value of its securities. The fair valued prices assigned to the Fund's investments in private companies are based on a variety of factors, reviewed regularly, and updated as additional information becomes available. However, fair value pricing includes subjective judgments, and it is possible that the fair value assigned to a security may differ materially from the value the Fund would realize if the security were sold.

---

| | |
|:---|:---|
| **EVENTIDE** | **54** |
| **EVENTIDE** | **54** |

---

---

| | |
|:---|:---|
| **P r o s p e c t u s**  | **N o v e m b e r 1, 2 0 2 5** |

---

**Technology Sector Risk.** Technology companies face intense competition, both domestically and internationally, which may have an adverse effect on profit margins. These companies may have limited product lines, markets, financial resources or personnel. The products of these companies may face obsolescence or adoption challenges due to rapid technological developments and frequent new product introduction, unpredictable changes in growth rates and competition for the services of qualified personnel. Companies in the technology sector can be heavily dependent on patent and intellectual property rights. The loss or impairment of these rights may adversely affect the profitability of these companies. Investments in this sector can be highly volatile. Their values may be adversely affected by such factors as, for example, rapid technological change, changes in management personnel, changes in the competitive environment, and changes in investor sentiment. Many technologies companies are small or mid-sized companies and may be newly organized.

***Financial Technology Companies Risk.*** Fintech companies could result in new business models, applications, processes or products with an associated effect on the provision of financial services. Certain fintech companies may seek to disrupt or displace established financial institutions and may face competition from larger and more established companies. Fintech companies that utilize disruptive technologies may not be able to capitalize on them when facing political and/or legal attacks from competitors, industry groups or local and national governments. Newer or smaller fintech companies may not currently be profitable, and there can be no assurance that these companies will be profitable in the future. Additionally, fintech companies may be adversely impacted by potential rapid product obsolescence, cybersecurity attacks and disruptions in the technology they depend on. Legal and regulatory changes, particularly related to information privacy and data protection, may impact the products or services of fintech companies. Similarly, the collection and storage of data from consumers and other sources may face increased scrutiny as regulators consider how data may be collected, stored, safeguarded and used.

***Healthcare Technology and Devices Companies Risk.*** Companies in this sector may be heavily dependent on clinical trials with uncertain outcomes and decisions made by the governments and regulatory authorities. Further, these companies are dependent on patent protection, and the expiration of patents may adversely affect the profitability of the companies. Additionally, the profitability of some of these companies may be dependent on a relatively limited number of products, and their products can become obsolete due to sector innovation, changes in technologies or other market developments.

***Information Technology Companies Risk.*** Information technology companies face intense competition, potentially rapid product obsolescence, short product cycles, falling prices and profits, and competition from new market entrants.

***Internet and Direct Marketing Retail Risk.*** Internet and Direct Marketing Retail companies provide retail services primarily on the Internet, through mail order, and TV home shopping retailers. These companies are dependent upon consumer spending, general economic conditions, the availability of disposable income, changing consumer tastes and preferences, and consumer demographics. These companies are subject to the risk that they will underperform as a whole due to legislative or regulatory changes, or increased government supervision.

**Volatility Risk.** The Fund's performance may be volatile, which means that the Fund's performance may be subject to substantial short-term changes up or down.

---

| | |
|:---|:---|
| **EVENTIDE** | **55** |
| **EVENTIDE** | **55** |

---

---

| | |
|:---|:---|
| **P r o s p e c t u s**  | **N o v e m b e r 1, 2 0 2 5** |

---

Performance

The bar chart and accompanying table shown below provide an indication of the risks of investing in the Fund. The bar chart shows the performance of its Class A shares for each full calendar year since the Fund's Class A shares commenced operations. Although Class C, N and I shares have similar annual returns to Class A shares because the classes are invested in the same portfolio of securities, the returns for Class C, N and I shares are different from Class A shares because Class C, N and I shares have different expenses than Class A shares. The performance table shows how the average annual returns of Class A, C, I and N shares compare over time with a broad-based market index and a supplemental index (strategy benchmark) that the Adviser believes is more representative of the Fund's investment universe. How the Fund has performed in the past (before and after taxes) is not necessarily an indication of how it will perform in the future. Updated performance information is available at no cost by calling 1-877-771-3836 and on the Fund's website at www.eventidefunds.com.

Eventide Exponential Technologies Fund Class A Annual Total Return for the Years Ended December 31

![(BAR GRAPH)](ev007_v1.jpg)

Figures do not reflect sales charges. If they did, returns would be lower.

During the period shown in the bar chart, for the Class A shares, the highest return for a quarter was 14.65% (quarter ended December 31, 2023), and the lowest return for a quarter was (28.09)% (quarter ended June 30, 2022). The Fund's Class A year-to-date return as of September 30, 2025, was 7.53%.

---

| | | |
|:---|:---|:---|
| **Average Annual Total Returns** *(periods ended December 31, 2024)* |  |  |
| *Class A Shares* | *1 Year* | *Since<br> inception<br> (6/30/2020)* |
| Return Before Taxes | (3.63)% | 5.45% |
| Return After Taxes on Distributions | (3.63)% | 5.31% |
| Return After Taxes on Distributions and Sale of Fund Shares | (2.15)% | 4.20% |
| *Class C Shares* | | |
| Return Before Taxes | 1.42% | 6.05% |
| *Class N Shares* | | |
| Return Before Taxes | 2.31% | 6.86% |
| *Class I Shares* | | |
| Return Before Taxes | 2.52% | 7.09% |
| Bloomberg US 3000 Equal Weight Total Return Index (reflects no deduction for fees, expenses or taxes) | 11.89% | 12.02% |
| Bloomberg US 2500 Technology Total Return Index (reflects no deduction for fees, expenses or taxes) | 18.48% | 10.86% |

---

---

| | |
|:---|:---|
| **EVENTIDE** | **56** |
| **EVENTIDE** | **56** |

---

---

| | |
|:---|:---|
| **P r o s p e c t u s**  | **N o v e m b e r 1, 2 0 2 5** |

---

After-tax returns are calculated using the highest historical individual federal marginal income tax rate and do not reflect the impact of state and local taxes. Actual after-tax returns depend on a shareholder's tax situation and may differ from those shown. After-tax returns are not relevant for shareholders who hold Fund shares in tax-deferred accounts or to shares held by non-taxable entities. After-tax returns are only shown for Class A shares. After-tax returns for other share classes, which are not shown, will vary from those of Class A shares.

**Adviser.** Eventide Asset Management, LLC is the Fund's investment adviser.

**Portfolio Managers.** Dr. Finny Kuruvilla, Co-Chief Investment Officer and Senior Portfolio Manager of the Adviser, and Darric White, Portfolio Manager and Senior Research Analyst of the Adviser, serve as Portfolio Managers of the Fund and are jointly and primarily responsible for the day-to-day management of the Fund's portfolio. Dr. Kuruvilla has served the Fund in this capacity since July 2024 and Mr. White has served in this capacity since July 2025.

**Purchase and Sale of Fund Shares.** The minimum initial investment in Class A, Class C and Class N Shares of the Fund, as well as Class I shares purchased directly from the Fund, is $1,000 for a regular account and for an IRA account, or $100 for an automatic investment plan account. The minimum initial investment in Class I shares purchased through a financial intermediary is $100,000 for all accounts. You may purchase and redeem shares of the Fund on any day that the New York Stock Exchange is open. Redemptions requests may be made in writing, online, by telephone or through a financial intermediary to the Fund or the Fund's transfer agent and will be paid by check or wire transfer.

**Tax Information.** Dividends and capital gain distributions you receive from the Fund, whether you reinvest your distributions in additional Fund shares or receive them in cash, are taxable to you at either ordinary income or capital gains tax rates unless you are investing through a tax-deferred plan. If you are investing in a tax-deferred plan, distributions may be taxable upon withdrawal from the plan.

**Payments to Broker-Dealers and Other Financial Intermediaries.** If you purchase the Fund through a broker-dealer or other financial intermediary (such as a bank), the Fund and its related companies may pay the intermediary for the sale of Fund shares and related services. These payments may create a conflict of interest by influencing the broker-dealer or other intermediary and your salesperson to recommend the Fund over another investment. Ask your salesperson or visit your financial intermediary's website for more information.

---

| | |
|:---|:---|
| **EVENTIDE** | **57** |
| **EVENTIDE** | **57** |

---

---

| | |
|:---|:---|
| **P r o s p e c t u s**  | **N o v e m b e r 1, 2 0 2 5** |

---

<u>Eventide Core Bond Fund</u> <u>Fund Summary</u>

**Investment Objective.**

The Eventide Core Bond Fund's (the "Core Bond Fund" or the "Fund") investment objective is total return consistent with income generation.

**Fees and Expenses of the Fund.**

The tables describe the fees and expenses that you may pay if you buy, hold, and sell shares of the Fund. **You may pay other fees, such as brokerage commissions and other fees to financial intermediaries, which are not reflected in the table and Example below.** You may qualify for sales charge discounts on purchases of Class A shares if you and your family invest, or agree to invest in the future, at least $50,000 in the Fund. More information about these and other discounts is available from your financial professional and is included in the section of the Fund's prospectus entitled **How to Buy Shares** on page 114 and **Appendix A – Intermediary-Specific Sales Charge Reductions and Waivers**, and in the sections of the Fund's Statement of Additional Information entitled **Reduction of Up-Front Sales Charge on Class A Shares** on page 70, and **Waivers of Up-Front Sales Charge on Class A Shares** on page 71.

---

| | | | | |
|:---|:---|:---|:---|:---|
| **Shareholder Fees***<br> Fees paid directly from your investment* | *Class A* | *Class C* | *Class N* | *Class I* |
| Maximum Sales Charge<br> (Load) Imposed on Purchases (as a % of offering price) | 5.75% |  |  |  |
| Maximum Deferred Sales Charge (Load) <br> (as a % of the lesser of the NAV of the shares redeemed or the original purchase price) | 1.00%<sup>1</sup> | 1.00%<sup>2</sup> |  |  |
| Maximum Sales Charge (Load) Imposed <br> on Reinvested Dividends and other Distributions |  |  |  |  |
| Redemption Fee for Shares Redeemed by Wire Transfer | $15 | $15 | $15 | $15 |

---

---

| | | | | |
|:---|:---|:---|:---|:---|
| **Annual Fund Operating Expenses***<br> Expenses that you pay each year as a percentage of the value of your investment* | | | | |
| Management Fees | 0.34% | 0.34% | 0.34% | 0.34% |
| Distribution and/or Service (12b-1) Fees | 0.25% | 1.00% | 0.20% |  |
| Other Expenses | 0.34% | 0.34% | 0.34% | 0.34% |
| Total Annual Fund Operating Expenses | 0.93% | 1.68% | 0.88% | 0.68% |
| Fee Waiver and/or Expense Reimbursement<sup>3,4</sup> | (0.20)% | (0.20)% | (0.20)% | (0.20)% |
| Total Annual Fund Operating Expenses After Fee Waiver and/or Expense Reimbursement<sup>3,4</sup> | 0.73% | 1.48% | 0.68% | 0.48% |

---

1. The
maximum deferred sales charge on Class A shares (as a % of NAV at the time of purchase) applies only to purchases of $250,000 or more
and applies to shares sold within 18 months of purchase.

2. The
maximum deferred sales charge on Class C shares (as a % of the lesser of NAV of the shares redeemed or the original purchase price) applies
to shares sold within 12 months of purchase.

3. Restated
to reflect current fees.

4. The
Fund's adviser has contractually agreed to waive fees and/or reimburse expenses of the Fund to the extent necessary to limit operating
expenses (excluding front-end or contingent deferred loads, taxes, leverage interest, brokerage commissions, expenses incurred in connection
with any merger or reorganization, dividend expense on securities sold short, underlying fund fees and expenses or extraordinary expenses
such as litigation) at 0.73%, 1.48%, 0.68% and 0.48% for Class A shares, Class C shares, Class N shares, and Class I shares, respectively,
through October 31, 2026 . This agreement may only be terminated by the Board of Trustees on 60 days' written notice to the adviser
and upon the termination of the advisory agreement between Mutual Fund Series Trust (the "Trust") and the adviser. Fee waivers
and expense reimbursements are subject to possible recoupment by the adviser from the Fund in future years on a rolling three-year basis
(within the three years after the fees have been waived or reimbursed) if, after the recoupment is taken into account, such recoupment
can be achieved within the lesser of the expense limitation in place at the time of waiver/reimbursement and the expense limitation in
place at the time of recapture.

---

| | |
|:---|:---|
| **EVENTIDE** | **58** |
| **EVENTIDE** | **58** |

---

---

| | |
|:---|:---|
| **P r o s p e c t u s**  | **N o v e m b e r 1, 2 0 2 5** |

---

**Example of Hypothetical Fund Costs.**

This Example is intended to help you compare the cost of investing in the Fund with the cost of investing in other mutual funds.

The Example assumes that you invest $10,000 in the Fund for the time periods indicated and then hold or redeem all of your shares at the end of those periods. The Example only accounts for the Fund's expense limitation in place through its expiration period, October 31, 2026, and then depicts the Fund's total annual expenses thereafter. The Example also assumes that your investment has a 5% return each year and that the Fund's operating expenses remain the same. Although your actual costs may be higher or lower, based on these assumptions your costs would be:

---

| | | | | |
|:---|:---|:---|:---|:---|
| | 1 Year | 3 Years | 5 Years | 10 Years |
| Class A | $645 | $836 | $1043 | $1637 |
| Class C – no redemption | $151 | $511 | $895 | $1972 |
| Class C – with redemption | $251 | $511 | $895 | $1972 |
| Class N | $70 | $261 | $469 | $1068 |
| Class I | $49 | $198 | $360 | $830 |

---

**Portfolio Turnover.**

The Fund pays transaction costs, such as commissions, when it buys and sells securities (or "turns over" its portfolio). A higher portfolio turnover rate may indicate higher transaction costs and may result in higher taxes when Fund shares are held in a taxable account. These costs, which are not reflected in annual fund operating expenses or in the Example, affect the Fund's performance. The portfolio turnover rate of the Fund for the fiscal year ended June 30, 2025, was 24% of the average value of its portfolio.

Principal Investment Strategies

The Fund seeks to achieve its objective through investments in income-producing securities issued by entities deemed by the Fund's investment adviser, Eventide Asset Management, LLC ("Eventide" or the "Adviser"), to be serving well the needs of customers, employees, suppliers, communities, the environment, and society broadly using the Adviser's faith-based screening criteria as more fully described below under "Faith-Based Screening." Income producing securities that the Fund may invest in include, but are not limited to, corporate bonds; preferred stocks, convertible debt and other hybrid securities that have debt and equity characteristics but are predominantly debt in nature; agency and non-agency residential and commercial mortgage-backed securities; asset-backed securities (including auto loans and leases, equipment loans and leases, and credit cards); green bonds (i.e., bonds that allow issuers to use proceeds for environmental projects); social bonds (i.e., bonds that allow issuers to use proceeds for social projects); sustainable bonds (i.e., bonds that are a combination of green and social bonds); government agency debt instruments; and municipal bonds (collectively, "Bonds"). Under normal circumstances, the Fund invests at least 80% of its net assets (plus borrowings for investment purposes) in Bonds.

---

| | |
|:---|:---|
| **EVENTIDE** | **59** |
| **EVENTIDE** | **59** |

---

---

| | |
|:---|:---|
| **P r o s p e c t u s**  | **N o v e m b e r 1, 2 0 2 5** |

---

The Fund may invest in Bonds of any maturity and, under normal market conditions, the Bonds held by the Fund have a weighted average duration between three years and nine years. Duration is a measure of the expected life of a fixed income instrument that is used to determine the sensitivity of a security's price to changes in interest rates. Effective duration is a measure of the Fund's portfolio duration adjusted for the anticipated effect of interest rate changes on bond and mortgage pre-payment rates. The longer a security's duration, the more sensitive it will be to changes in interest rates. The more sensitive a security is to changes in interest rates, the higher its volatility risk. For example, if a bond has a duration of 5 years, a 1% rise in rates would result in approximately a 5% decline in the bond's price. If a bond has a duration of 10 years, a 1% rise in interest rates would result in approximately a 10% decline in the bond's price. The Fund invests predominantly in investment grade securities. With respect to both fixed income and equity securities, the Fund may invest in the securities of foreign entities and may invest in companies of any market capitalization. The Fund may invest in private and other issuers whose securities may have legal or contractual restrictions on resale or are otherwise illiquid ("Illiquid Investments"), which can impact their valuation. The Fund will not invest more than 15% of the Fund's net assets in Illiquid Investments.

**Faith-Based Screening.** The Adviser uses its proprietary screening methodology to analyze all potential investments for the company's ability to operate with integrity and to create value for customers, employees, and other stakeholders by reflecting the values described below. The values assessed in the Adviser's screening process are inspired by the Christian faith and rooted in a biblical worldview. While few companies may reach these ideals in every area of their business, these principles articulate the Adviser's highest expectations for the companies in which the Fund invests. The Adviser uses its screening process in connection with other fundamental research processes to establish the Fund's eligible investment universe. Securities are generally ineligible within the Fund's portfolio unless the Adviser believes that the faith-based screens are met. If the Adviser's research identifies events and/or business changes suggesting that a portfolio company no longer meets the faith-based criteria, the Fund may hold the company's securities while the Adviser performs additional research, including possible direct engagement with the company to assess practices. The Adviser's faith-based screening process for potential investments does not apply relative weights between values-based factors and financial factors. There is no guarantee that the Adviser will be able to successfully screen out all companies that are inconsistent with the following principles which help to guide the Adviser's research and investment framework. Specifically, the Adviser seeks to invest in companies that reflect the following values:

&nbsp;&nbsp;&nbsp;&nbsp;■ Respecting
the value and freedom of all people: this includes the right to life at all stages and freedom from addictive behaviors caused by gambling,
pornography, tobacco, and alcohol.

&nbsp;&nbsp;&nbsp;&nbsp;■ Demonstrating
a concern for justice and peace: this includes fair and ethical relationships with customers, suppliers, and business partners and avoiding
products and services that promote weapons production and proliferation.

&nbsp;&nbsp;&nbsp;&nbsp;■ Promoting
family and community: this includes protecting children from violent forms of entertainment and serving low-income communities.

&nbsp;&nbsp;&nbsp;&nbsp;■ Exhibiting
responsible management practices: this includes fair dealing with employees, communities, competitors, suppliers, and customers as demonstrated
by a company's record regarding litigation, regulatory actions against the company, and its record of providing products and services
that improve the lives of people.

&nbsp;&nbsp;&nbsp;&nbsp;■ Practicing
environmental stewardship: this includes practices considered more sustainable than those of industry peers, reduction in environmental
impact when compared to previous periods, and/or the use of more efficient and cleaner energy sources.

Consistent with the Adviser's values, the Fund may invest in domestic and/or foreign fixed-income securities, such as notes (including standalone notes not rated by any agency), to help fund community development institutions and projects aimed at serving human needs such as those of low-to-moderate income families and communities.

---

| | |
|:---|:---|
| **EVENTIDE** | **60** |
| **EVENTIDE** | **60** |

---

---

| | |
|:---|:---|
| **P r o s p e c t u s**  | **N o v e m b e r 1, 2 0 2 5** |

---

Investments that meet the Adviser's faith-based criteria are analyzed by the Fund's investment sub-adviser, Boyd Watterson Asset Management, LLC (the "Sub-Adviser") for possible inclusion in the Fund's portfolio. The Sub-Adviser builds the Fund's portfolio based on macroeconomic trends and forecasts in economic growth, inflation expectations, and monetary policy. The Sub-Adviser strives to generate excess return through sector allocation (adjusting allocations across major sectors of the bond market based on assessments of fundamentals and current versus historical valuation relationships), duration management (holding securities to optimize interest rates), yield curve positioning (adjusting holdings to capitalize on expected changes in the Treasury yield curve), and security selection. The ability of the Sub-Adviser to deliver returns varies according to the economic and market environment. The Sub-Adviser's methods are intended to accumulate value over a full market cycle.

Securities may be sold when the Adviser or the Sub-Adviser believes that they no longer represent relatively attractive investment opportunities or when the Adviser believes the underlying company's practices are no longer consistent with the Adviser's faith-based values.

Principal Risks of Investing in the Fund

As with any mutual fund, there is no guarantee that the Fund will achieve its objective. Investment markets are unpredictable and there will be certain market conditions where the Fund will not meet its investment objective and will lose money. The Fund's net asset value and returns will vary and you could lose money on your investment in the Fund and those losses could be significant.

The following summarizes the principal risks of investing in the Fund. These risks could adversely affect the net asset value, total return and the value of the Fund and your investment.

**Asset-Backed and Mortgage-Backed Security Risk.** When the Fund invests in asset-backed securities, mortgage-backed securities or collateralized mortgage obligations, the Fund is subject to the risk that, if the issuer fails to pay interest or repay principal, the assets backing these securities may not be sufficient to support payments on the securities.

Mortgage-backed securities represent participating interests in pools of residential mortgage loans, some of which are guaranteed by the U.S. government, its agencies or instrumentalities. However, the guarantee of these types of securities relates to the principal and interest payments and not the market value of such securities. In addition, the guarantee only relates to the mortgage-backed securities held by a Fund and not the purchase of shares of the Fund. Mortgage-backed securities do not have a fixed maturity and their expected maturities may vary when interest rates rise or fall.

Commercial mortgage-backed securities ("CMBS") are subject to credit risk because underlying loan borrowers may default. Subordinate tranches of CMBS are more sensitive to defaults. Previously non-defaulting borrowers may not be able to refinance their loans when due, resulting in higher default rates. CMBS, in general, may become illiquid. Recently, hospitality, retail, and office properties have become subject to heightened vacancy rates and an accompanying increase in the risk of default.

Mortgage-backed securities issued or guaranteed by private issuers are also known as "non-agency MBS." Non-agency MBS generally are a greater credit risk than MBS issued by the U.S. government, and the market for non-agency MBS is smaller and may be less liquid that the market for government MBS.

---

| | |
|:---|:---|
| **EVENTIDE** | **61** |
| **EVENTIDE** | **61** |

---

---

| | |
|:---|:---|
| **P r o s p e c t u s**  | **N o v e m b e r 1, 2 0 2 5** |

---

**Convertible Securities Risk.** Convertible securities are hybrid securities that have characteristics of both fixed income and equity securities, and are therefore subject to risks associated with both fixed income and equity securities. The market value of convertible securities and other debt securities tends to fall when prevailing interest rates rise. The market value of convertible securities also tends to change whenever the market value of the underlying common or preferred stock fluctuates.

**Credit Risk.** Credit risk is the risk that an issuer of a security will fail to pay principal and interest in a timely manner, reducing the Fund's total return. The Fund may invest in high-yield, unrated or otherwise high-risk securities, commonly called "junk bonds," that are not investment grade and are generally considered speculative because they present a greater risk of loss, including default, than higher quality debt securities.

**Duration Risk.** Longer-term securities may be more sensitive to interest rate changes. Rising interest rates pose a heightened risk to the Fund's longer-term fixed income securities. Effective duration estimates price changes for relatively small changes in rates. If rates rise significantly, effective duration may tend to understate the drop in a security's price. If rates drop significantly, effective duration may tend to overstate the rise in a security's price.

**Ethical Investment Risk.** The Fund's ethical values screening criteria could cause it to underperform similar funds that do not have such screening criteria. This could be due to ethically acceptable companies falling out of favor with investors or failing to perform as well as companies that do not meet the Fund's ethical screening guidelines.

To supplement its efforts in ethical investing, the Adviser may engage with portfolio companies to encourage consideration of corporate strategies aligned with the Adviser's values, including pricing and/or business practices that may be beneficial within particular industries. The Adviser believes these activities will help promote ethical and effective corporate governance and long-term strategy for companies, and potentially create a positive effect on the particular businesses and/or industries, their consumers, and the Fund. There is no guarantee that the Adviser's corporate engagements and related-activities will achieve their intended results. There is a risk that the Adviser's activities in this regard could limit the Fund's investment universe and reduce the amount of profits that could be realized by affected companies, limiting the Fund's investment returns. Furthermore, the U.S. government or any agency thereof, may enact rules or legislation that, directly or indirectly, materially impacts the Adviser's activities in this regard, or materially affects the value of companies or opportunities for investment within particular industries.

**Extension Risk.** If interest rates rise, repayments of principal on certain debt securities, including, but not limited to, floating rate loans and mortgage-related securities, may occur at a slower rate than expected and the expected maturity of those securities could lengthen as a result. Securities that are subject to extension risk generally have a greater potential for loss when prevailing interest rates rise, which could cause their values to fall sharply.

**Fixed Income Risk.** When the Fund invests in fixed income securities, the value of your investment in the Fund will fluctuate with changes in interest rates. Typically, a rise in interest rates causes a decline in the value of fixed income securities owned by the Fund. In general, the market price of fixed income securities with longer maturities will increase or decrease more in response to changes in interest rates than shorter-term securities. Federal Reserve policy changes may expose fixed-income and related markets to heightened volatility and may reduce liquidity for certain Fund investments, which could cause the value of the Fund's investments and share price to decline. Other risk factors include credit risk (the debtor may default), extension risk (an issuer may exercise its right to repay principal on a fixed rate obligation held by the Fund later than expected), and prepayment risk (the debtor may pay its obligation early, reducing the amount of interest payments). These risks could affect the value of a particular investment by the Fund, possibly causing the Fund's share price and total return to be reduced and fluctuate more than other types of investments.

---

| | |
|:---|:---|
| **EVENTIDE** | **62** |
| **EVENTIDE** | **62** |

---

---

| | |
|:---|:---|
| **P r o s p e c t u s**  | **N o v e m b e r 1, 2 0 2 5** |

---

**Foreign Securities Risk.** Since the Fund's investments may include foreign securities, the Fund is subject to risks beyond those associated with investing in domestic securities. The value of foreign securities is subject to currency fluctuations. Foreign companies are generally not subject to the same regulatory requirements as U.S. companies thereby resulting in less publicly available information about these companies. In addition, foreign investing involves other risks not typically associated with U.S. investments, including adverse political, social and economic developments, less liquidity, greater volatility, less developed or less efficient trading markets, political instability and differing accounting, auditing, financial reporting and legal standards.

**Income Risk.** Income risk is the risk that the income from the Fund's portfolio will decline because of falling market interest rates. This can result when the Fund invests the proceeds from new share sales, or from matured or called bonds, at market interest rates that are below the portfolio's current earnings rate.

**Interest Rate Risk.** Changes in short-term market interest rates will directly affect the yield on the shares of a fund whose investments are normally invested in floating rate debt. If short-term market interest rates fall, the yield on the Fund's shares will also fall. Conversely, when short-term market interest rates rise, because of the lag between changes in such short-term rates and the resetting of the floating rates on the floating rate debt in the Fund's portfolio, the impact of rising rates will be delayed to the extent of such lag. Rising interest rates pose a heightened risk to any longer-term fixed income securities held by the Fund.

**Junk Bond Risk.** Lower-quality or unrated bonds, known as "high yield" or "junk" bonds, present greater risk than bonds of higher quality, including an increased risk of default. An economic downturn or period of rising interest rates could adversely affect the market for these bonds and reduce the Fund's ability to sell its bonds. The lack of a liquid market for these bonds could decrease the Fund's share price.

**Large Capitalization Company Risk.** Large capitalization companies may be less able than smaller capitalization companies to adapt to changing market conditions. Large capitalization companies may be more mature and subject to more limited growth potential compared with smaller capitalization companies. During different market cycles, the performance of large capitalization companies has trailed the overall performance of the broader securities markets.

**Liquidity Risk.** Some investments held by the Fund may be difficult to sell, or illiquid, particularly during times of market turmoil. Illiquid investments may also lack a readily observable or market-corroborated price and be difficult to value. If the Fund is forced to sell an illiquid asset to meet redemption requests or other cash needs, the Fund may be forced to sell at an unexpected loss.

**Management Risk.** The portfolio managers' judgments about the attractiveness, value and potential appreciation of particular securities in which the Fund invests may prove to be incorrect, and there is no guarantee that the portfolio managers' judgment will produce the desired results.

**Market Risk.** Overall stock or bond market risks may also affect the value of the Fund. Factors such as domestic and/or foreign economic growth and market conditions, interest rate levels, political events and terrorism affect the securities markets.

---

| | |
|:---|:---|
| **EVENTIDE** | **63** |
| **EVENTIDE** | **63** |

---

---

| | |
|:---|:---|
| **P r o s p e c t u s**  | **N o v e m b e r 1, 2 0 2 5** |

---

**Medium (Mid) Capitalization Company Risk.** To the extent the Fund invests in the securities of mid-sized companies, the Fund may be subject to additional risks. The earnings and prospects of these companies are more volatile than larger companies. These companies may experience higher failure rates than larger companies. Mid-sized companies normally have a lower trading volume than larger companies, which may tend to make their market price fall more disproportionately than larger companies in response to selling pressures. Mid-sized companies may also have limited markets, product lines or financial resources and may lack management experience.

**Municipal Bond Risk.** The value of municipal bonds may fluctuate as a result of changes in the cash flows generated by the revenue source(s), changes in the priority of the municipal obligation to receive the cash flows generated by the revenue source(s), or changes in federal tax laws or the activity of an issuer which may adversely affect the tax-exempt status of municipal bonds.

**Preferred Stock Risk.** Dividends on preferred stocks are generally payable at the discretion of the issuer's board of directors and Fund shareholders may lose money if dividends are not paid. Preferred stock prices may fall if interest rates rise or the issuer's creditworthiness becomes impaired. Preferred stocks are susceptible to general stock market fluctuations and to volatile increases and decreases in value as market confidence in and perceptions of their issuers change.

**Prepayment Risk.** The Fund may invest in debt securities that may be paid off early when the issuer of a debt security can repay the principal prior to a security's maturity. If interest rates are falling, the Fund may have to reinvest the unanticipated proceeds at lower interest rates, resulting in a decline in the Fund's income.

**Security Risk.** The value of the Fund may decrease in response to the activities and financial prospects of an individual security or group of securities in the Fund's portfolio. There can be no guarantee the securities held by the Fund will appreciate in value.

**Small Capitalization Company Risk.** Smaller-sized companies may experience higher failure rates than larger companies and normally have a lower trading volume than larger companies, which may tend to make their market price fall more disproportionately than larger companies in response to selling pressures and companies may have limited markets, product lines or financial resources and lack management experience.

**Sovereign Debt Risk.** Investment in sovereign debt obligations involves special risks not present in corporate debt obligations. The issuer of the sovereign debt or the governmental authorities that control the repayment of the debt may be unable or unwilling to repay principal or interest when due, and the Fund may have limited recourse in the event of a default.

**U.S. Government Obligations Risk.** The Fund's investments in securities issued or guaranteed by federal agencies and U.S. government sponsored entities may or may not be backed by the full faith and credit of the U.S. government.

---

| | |
|:---|:---|
| **EVENTIDE** | **64** |
| **EVENTIDE** | **64** |

---

---

| | |
|:---|:---|
| **P r o s p e c t u s**  | **N o v e m b e r 1, 2 0 2 5** |

---

Performance

The bar chart and accompanying table shown below provide an indication of the risks of investing in the Fund. The bar chart shows the performance of its Class A shares for each full calendar year since the Fund's Class A shares commenced operations. Although Class C, N and I shares have similar annual returns to Class A shares because the classes are invested in the same portfolio of securities, the returns for Class C, N and I shares are different from Class A shares because Class C, N and I shares have different expenses than Class A shares. The performance table shows how the average annual returns of Class A, C, I and N shares compare over time with a broad-based market index. How the Fund has performed in the past (before and after taxes) is not necessarily an indication of how it will perform in the future. Updated performance information is available at no cost by calling 1-877-771-3836 and on the Fund's website at <u>www.eventidefunds.com</u>.

Eventide Core Bond Fund Class A Annual Total Returns for the Years Ended December 31

![(BAR GRAPH)](ev008_v1.jpg)

Figures do not reflect sales charges. If they did, returns would be lower.

During the period shown in the bar chart, for the Class A shares, the highest return for a quarter was 6.46% (quarter ended December 31, 2023), and the lowest return for a quarter was (6.31)% (quarter ended March 31, 2022). The Fund's Class A year-to-date return as of September 30, 2025, was 6.04%.

---

| | | |
|:---|:---|:---|
| **Average Annual Total Returns** *(periods ended December 31, 2024)* |  |  |
| *Class A Shares* | *1 Year* | *Since<br> inception<br> (7/31/2020)* |
| Return Before Taxes | (4.59)% | (3.89)% |
| Return After Taxes on Distributions | (6.01)% | (4.69)% |
| Return After Taxes on Distributions and Sale of Fund Shares | (2.72)% | (3.24)% |
| *Class C Shares* | | |
| Return Before Taxes | 0.50% | (3.31)% |
| *Class N Shares* | | |
| Return Before Taxes | 1.42% | (2.54)% |
| *Class I Shares* | | |
| Return Before Taxes | 1.62% | (2.35)% |
| Bloomberg US Aggregate Bond Index (reflects no deduction for fees, expenses or taxes) | 1.25% | (2.03)% |

---

---

| | |
|:---|:---|
| **EVENTIDE** | **65** |
| **EVENTIDE** | **65** |

---

---

| | |
|:---|:---|
| **P r o s p e c t u s**  | **N o v e m b e r 1, 2 0 2 5** |

---

After-tax returns are calculated using the highest historical individual federal marginal income tax rate and do not reflect the impact of state and local taxes. Actual after-tax returns depend on a shareholder's tax situation and may differ from those shown. After-tax returns are not relevant for shareholders who hold Fund shares in tax-deferred accounts or to shares held by non-taxable entities. After-tax returns are only shown for Class A shares. After-tax returns for other share classes, which are not shown, will vary from those of Class A shares.

**Adviser.** Eventide Asset Management, LLC is the Fund's investment adviser.

**Sub-Adviser.** Boyd Watterson Asset Management, LLC is the Fund's investment sub-adviser.

**Portfolio Managers.** Christopher Grogan, CFA, Director of Investment Consulting, and Portfolio Manager of the Adviser, serves as a Co-Portfolio Manager of the Fund. Mr. Grogan has served the Fund in this capacity since April 2023. Mr. Grogan provides oversight of the Sub-Adviser and manages those assets allocated to domestic and/or foreign fixed-income securities to help fund community development institutions and projects aimed at serving human needs such as those of low-to-moderate income families and communities. The Sub-Adviser manages assets of the Fund at the direction of the Adviser.

David M. Dirk, CFA, Director of Portfolio Management and Trading of the Sub-Adviser, has served as a Co-Portfolio Manager of the Fund since the Fund commenced operations in July 2020.

Mr. Grogan and Mr. Dirk are jointly and primarily responsible for the day-to-day management of the Fund.

**Purchase and Sale of Fund Shares.** The minimum initial investment in Class A, Class C and Class N Shares of the Fund, as well as Class I shares purchased directly from the Fund, is $1,000 for a regular account and for an IRA account, or $100 for an automatic investment plan account. The minimum initial investment in Class I shares purchased through a financial intermediary is $100,000 for all accounts. You may purchase and redeem shares of the Fund on any day that the New York Stock Exchange is open. Redemptions requests may be made in writing, online, by telephone or through a financial intermediary to the Fund or the Fund's transfer agent and will be paid by check or wire transfer.

**Tax Information.** Dividends and capital gain distributions you receive from the Fund, whether you reinvest your distributions in additional Fund shares or receive them in cash, are taxable to you at either ordinary income or capital gains tax rates unless you are investing through a tax-deferred plan. If you are investing in a tax-deferred plan, distributions may be taxable upon withdrawal from the plan.

**Payments to Broker-Dealers and Other Financial Intermediaries.** If you purchase the Fund through a broker-dealer or other financial intermediary (such as a bank), the Fund and its related companies may pay the intermediary for the sale of Fund shares and related services. These payments may create a conflict of interest by influencing the broker-dealer or other intermediary and your salesperson to recommend the Fund over another investment. Ask your salesperson or visit your financial intermediary's website for more information.

---

| | |
|:---|:---|
| **EVENTIDE** | **66** |
| **EVENTIDE** | **66** |

---

---

| | |
|:---|:---|
| **P r o s p e c t u s**  | **N o v e m b e r 1, 2 0 2 5** |

---

<u>Eventide Large Cap Focus Fund</u> <u>Fund Summary</u>

**Investment Objective.**

The Eventide Large Cap Focus Fund (the "Large Cap Focus Fund" or the "Fund") seeks to provide long-term capital appreciation.

**Fees and Expenses of the Fund.**

The tables describe the fees and expenses that you may pay if you buy, hold, and sell shares of the Fund. **You may pay other fees, such as brokerage commissions and other fees to financial intermediaries, which are not reflected in the table and Example below.** You may qualify for sales charge discounts on purchases of Class A shares if you and your family invest, or agree to invest in the future, at least $50,000 in the Fund. More information about these and other discounts is available from your financial professional and is included in the section of the Fund's prospectus entitled **How to Buy Shares** on page 114 and **Appendix A: Intermediary-Specific Sales Charge Reductions and Waivers,** and in the sections of the Fund's Statement of Additional Information entitled **Reduction of Up-Front Sales Charge on Class A Shares** on page 70, and **Waivers of Up-Front Sales Charge on Class A Shares** on page 71.

---

| | | | | |
|:---|:---|:---|:---|:---|
| **Shareholder Fees**<br> *Fees paid directly from your investment* | *Class A* | *Class C* | *Class N* | *Class I* |
| Maximum Sales Charge (Load) Imposed on Purchases (as a % of offering price) | 5.75% |  |  |  |
| Maximum Deferred Sales Charge (Load) (as a % of the lesser of the NAV of the shares redeemed or the original purchase price) | 1.00%<sup>1</sup> | 1.00%<sup>2</sup> |  |  |
| Maximum Sales Charge (Load) Imposed on Reinvested Dividends and other Distributions |  |  |  |  |
| Redemption Fee for Shares Redeemed by Wire Transfer | $15 | $15 | $15 | $15 |

---

---

| | | | | |
|:---|:---|:---|:---|:---|
| **Annual Fund Operating Expenses**<br> *Expenses that you pay each year as a percentage of the value of your investment* | | | | |
| Management Fees | 0.73% | 0.73% | 0.73% | 0.73% |
| Distribution and/or Service (12b-1) Fees | 0.25% | 1.00% | 0.20% |  |
| Other Expenses | 0.40% | 0.40% | 0.40% | 0.40% |
| Total Annual Fund Operating Expenses | 1.38% | 2.13% | 1.33% | 1.13% |
| Fee Waiver/Expense Reimbursement<sup>3</sup> | (0.19)% | (0.19)% | (0.19)% | (0.19)% |
| Total Annual Fund Operating Expenses After Fee Waiver/Expense Reimbursement<sup>3</sup> | 1.19% | 1.94% | 1.14% | 0.94% |

---

*1.* *The maximum deferred sales charge on Class A shares (as a % of NAV at the time of purchase) applies only to purchases of $250,000 or more and applies to shares sold within 18 months of purchase.* 

2. The
maximum deferred sales charge on Class C shares (as a % of the lesser of NAV of the shares redeemed or the original purchase price) applies
to shares sold within 12 months of purchase.

3. The
Fund's adviser has contractually agreed to waive fees and/or reimburse expenses of the Fund to the extent necessary to limit operating
expenses (excluding front-end or contingent deferred loads, taxes, leverage interest, brokerage commissions, expenses incurred in connection
with any merger or reorganization, dividend expense on securities sold short, underlying fund fees and expenses or extraordinary expenses
such as litigation) at 1.19%, 1.94%, 1.14% and 0.94% for Class A shares, Class C shares, Class N shares, and Class I shares, respectively,
through October 31, 2026 . This agreement may only be terminated by the Board of Trustees on 60 days' written notice to the adviser
and upon the termination of the advisory agreement between Mutual Fund Series Trust (the "Trust") and the adviser. Fee waivers
and expense reimbursements are subject to possible recoupment by the adviser from the Fund in future years on a rolling three-year basis
(within the three years after the fees have been waived or reimbursed) if, after the recoupment is taken into account, such recoupment
can be achieved within the lesser of the expense limitation in place at the time of waiver/reimbursement and the expense limitation in
place at the time of recapture.

---

| | |
|:---|:---|
| **EVENTIDE** | **67** |
| **EVENTIDE** | **67** |

---

---

| | |
|:---|:---|
| **P r o s p e c t u s**  | **N o v e m b e r 1, 2 0 2 5** |

---

**Example of Hypothetical Fund Costs**.

This Example is intended to help you compare the cost of investing in the Fund with the cost of investing in other mutual funds.

The Example assumes that you invest $10,000 in the Fund for the time periods indicated and then redeem or hold all of your shares at the end of those periods. The Example only accounts for the Fund's expense limitation in place through its expiration period, October 31, 2026, and then depicts the Fund's total annual expenses thereafter. The Example also assumes that your investment has a 5% return each year and that the Fund's operating expenses remain the same. Although your actual costs may be higher or lower, based on these assumptions your costs would be:

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | *1 Year* | *3 Years* | *5 Years* | *10 Years* |
| Class A | $689 | $969 | $1270 | $2122 |
| Class C – no redemption | $197 | $649 | $1127 | $2447 |
| Class C – with redemption | $297 | $649 | $1127 | $2447 |
| Class N | $116 | $403 | $711 | $1585 |
| Class I | $96 | $340 | $604 | $1358 |

---

**Portfolio Turnover.**

The Fund pays transaction costs, such as commissions, when it buys and sells securities (or "turns over" its portfolio). A higher portfolio turnover rate may indicate higher transaction costs and may result in higher taxes when Fund shares are held in a taxable account. These costs, which are not reflected in annual fund operating expenses or in the Example, affect the Fund's performance. The portfolio turnover rate of the Fund for the fiscal year ended June 30, 2025, was 50% of the average value of its portfolio.

Principal Investment Strategies

---

| | |
|:---|:---|
| **EVENTIDE** | **68** |
| **EVENTIDE** | **68** |

---

---

| | |
|:---|:---|
| **P r o s p e c t u s**  | **N o v e m b e r 1, 2 0 2 5** |

---

The Fund may invest without limitation in securities in companies domiciled outside the United States either directly or through ADRs. The Fund may invest a substantial portion of its assets in the stock of companies in one or more sectors of the economy, such as the technology, industrial, consumer discretionary and healthcare sectors. The Fund concentrates investments in the software and semiconductor industries by investing, under normal circumstances, over 25% of its assets in companies in this group of industries.

The Fund may invest in private companies and other companies whose shares may have legal or contractual restrictions on resale or are otherwise illiquid ("Illiquid Investments"), which can impact their valuation. The Fund will not invest more than 15% of the Fund's net assets in Illiquid Investments. The Adviser may use options strategies, such as puts and covered calls on individual securities, as well as options on securities indices, to generate income, to reduce portfolio volatility, or to reduce downside risk when the Adviser believes adverse market, political or other conditions are likely. The Adviser may also utilize a combination of puts and/or calls on the same security (sometimes referred to as "straddles," "collars" or "spreads") or utilize puts and calls on related securities.

**Faith-Based Screening,** The Adviser uses its proprietary screening methodology to analyze all potential investments for the company's ability to operate with integrity and to create value for customers, employees, and other stakeholders by reflecting the values described below. The values assessed in the Adviser's screening process are inspired by the Christian faith and rooted in a biblical worldview. While few companies may reach these ideals in every area of their business, these principles articulate the Adviser's highest expectations for the companies in which the Fund invests. The Adviser uses its screening process in connection with other fundamental research processes to establish the Fund's eligible investment universe. Securities are generally ineligible within the Fund's portfolio unless the Adviser believes that the faith-based screens are met. If the Adviser's research identifies events and/or business changes suggesting that a portfolio company no longer meets the faith-based criteria, the Fund may hold the company's securities while the Adviser performs additional research, including possible direct engagement with the company to assess practices. The Adviser's faith-based screening process for potential investments does not apply relative weights between values-based factors and financial factors. There is no guarantee that the Adviser will be able to successfully screen out all companies that are inconsistent with the following principles which help to guide the Adviser's research and investment framework. Specifically, the Adviser seeks to invest in companies that reflect the following values:

&nbsp;&nbsp;&nbsp;&nbsp;■ Respecting
the value and freedom of all people: this includes the right to life at all stages and freedom from addictive behaviors caused by gambling,
pornography, tobacco, and alcohol.

&nbsp;&nbsp;&nbsp;&nbsp;■ Demonstrating
a concern for justice and peace: this includes fair and ethical relationships with customers, suppliers, and business partners and avoiding
products and services that promote weapons production and proliferation.

&nbsp;&nbsp;&nbsp;&nbsp;■ Promoting
family and community: this includes protecting children from violent forms of entertainment and serving low-income communities.

&nbsp;&nbsp;&nbsp;&nbsp;■ Exhibiting
responsible management practices: this includes fair dealing with employees, communities, competitors, suppliers, and customers as demonstrated
by a company's record regarding litigation, regulatory actions against the company, and its record of providing products and services
that improve the lives of people.

&nbsp;&nbsp;&nbsp;&nbsp;■ Practicing
environmental stewardship: this includes practices considered more sustainable than those of industry peers, reduction in environmental
impact when compared to previous periods, and/or the use of more efficient and cleaner energy sources.

---

| | |
|:---|:---|
| **EVENTIDE** | **69** |
| **EVENTIDE** | **69** |

---

---

| | |
|:---|:---|
| **P r o s p e c t u s**  | **N o v e m b e r 1, 2 0 2 5** |

---

Consistent with the Adviser's values, the Fund may invest in domestic and/or foreign fixed-income securities, such as notes (including standalone notes not rated by any agency), to help fund community development institutions and projects aimed at serving human needs such as those of low-to-moderate income families and communities.

Securities may be sold when the Adviser believes that they no longer represent relatively attractive investment opportunities or when the Adviser believes the underlying company is no longer consistent with the Adviser's faith-based values.

Principal Risks of Investing in the Fund

As with any mutual fund, there is no guarantee that the Fund will achieve its objective. Investment markets are unpredictable and there will be certain market conditions where the Fund will not meet its investment objective and will lose money. The Fund's net asset value and returns will vary and you could lose money on your investment in the Fund and those losses could be significant.

The following summarizes the principal risks of investing in the Fund. These risks could adversely affect the net asset value, total return and the value of the Fund and your investment.

**ADRs Risk.** ADRs, which are typically issued by a bank, are certificates that evidence ownership of shares of a foreign company and are alternatives to purchasing foreign securities directly in their national markets and currencies. ADRs are subject to the same risks as direct investment in foreign companies and involve risks that are not found in investments in U.S. companies. Although an ADR is priced in the U.S. dollar, movements in the exchange rate of the local currency versus the U.S. dollar are automatically reflected in the price of the ADR in US dollars. Therefore, even if the price of the foreign security does not change on its market, if the exchange rate of the local currency relative to the U.S. Dollar declines, the ADR price would decline by a similar measure.

**Convertible Securities Risk.** Convertible securities are hybrid securities that have characteristics of both fixed income and equity securities, and are therefore subject to the risks associated with both fixed income and equity securities. The market value of convertible securities and other debt securities tends to fall when prevailing interest rates rise. The market value of convertible securities also tends to change whenever the market value of the underlying common or preferred stock fluctuates.

**Equity Security Risk.** Common and preferred stocks are susceptible to general stock market fluctuations and to volatile increases and decreases in value as market confidence in and perceptions of their issuers change. Warrants and rights may expire worthless if the price of a common stock is below the conversion price of the warrant or right. Convertible bonds may decline in value if the price of a common stock falls below the conversion price. Investor perceptions are based on various and unpredictable factors, including expectations regarding government, economic, monetary and fiscal policies; inflation and interest rates; economic expansion or contraction and global or regional political, economic and banking crises.

**Ethical Investment Risk.** The Fund's ethical values screening criteria could cause it to underperform similar funds that do not have such screening criteria. This could be due to ethically acceptable companies falling out of favor with investors or failing to perform as well as companies that do not meet the Fund's ethical screening guidelines.

---

| | |
|:---|:---|
| **EVENTIDE** | **70** |
| **EVENTIDE** | **70** |

---

---

| | |
|:---|:---|
| **P r o s p e c t u s**  | **N o v e m b e r 1, 2 0 2 5** |

---

To supplement its efforts in ethical investing, the Adviser may engage with portfolio companies to encourage consideration of corporate strategies aligned with the Adviser's values, including pricing and/or business practices that may be beneficial within particular industries. The Adviser believes these activities will help promote ethical and effective corporate governance and long-term strategy for companies, and potentially create a positive effect on the particular businesses and/or industries, their consumers, and the Fund. There is no guarantee that the Adviser's corporate engagements and related-activities will achieve their intended results. There is a risk that the Adviser's activities in this regard could limit the Fund's investment universe and reduce the amount of profits that could be realized by affected companies, limiting the Fund's investment returns. Furthermore, the U.S. government or any agency thereof, may enact rules or legislation that, directly or indirectly, materially impacts the Adviser's activities in this regard, or materially affects the value of companies or opportunities for investment within particular industries.

**Foreign Securities Risk.** Since the Fund's investments may include ADRs and foreign securities, the Fund is subject to risks beyond those associated with investing in domestic securities. The value of foreign securities is subject to currency fluctuations. Foreign companies are generally not subject to the same regulatory requirements of U.S. companies thereby resulting in less publicly available information about these companies. In addition, foreign investing involves other risks not typically associated with U.S. investments, including adverse political, social and economic developments, less liquidity, greater volatility, less developed or less efficient trading markets, political instability and differing accounting, auditing, financial reporting and legal standards.

**Growth Stock Risk.** "Growth" stocks can react differently to issuer, political, market, and economic developments than the market as a whole and other types of stocks. "Growth" stocks also tend to be more expensive relative to their earnings or assets compared to other types of stocks. As a result, "growth" stocks tend to be sensitive to changes in their earnings and more volatile in price than the stock market as a whole. In addition, companies that the Adviser believes have significant growth potential are often companies with new, limited or cyclical product lines, markets or financial resources and the management of such companies may be dependent upon one or a few key people. The stocks of such companies can therefore be subject to more abrupt or erratic market movements than stocks of larger, more established companies or the stock market in general.

**Industry Concentration Risk.** The Fund may be susceptible to an increased risk of loss, including losses due to adverse occurrences affecting the Fund more than the market as a whole, because the Fund's investments are concentrated in the semiconductor and software industries.

***Semiconductor Industry Risk.*** Semiconductor companies face intense competition, both domestically and internationally, and such competition may have an adverse effect on profit margins. Semiconductor companies may have limited product lines, markets, financial resources or personnel. The products of semiconductor companies may face obsolescence due to rapid technological developments and frequent new product introduction, unpredictable changes in growth rates and competition for the services of qualified personnel. Capital equipment expenditures could be substantial, and equipment generally suffers from rapid obsolescence. Companies in the semiconductor industry are heavily dependent on patent and intellectual property rights. The loss or impairment of these rights would adversely affect the profitability of these companies.

***Software Industry Risk.*** Software companies can be significantly affected by competitive pressures, aggressive pricing, technological developments, changing domestic demand, the ability to attract and retain skilled employees and availability and price of components. The market for products produced by software companies is characterized by rapidly changing technology, rapid product obsolescence, cyclical market patterns, evolving industry standards and frequent new product introductions.

---

| | |
|:---|:---|
| **EVENTIDE** | **71** |
| **EVENTIDE** | **71** |

---

---

| | |
|:---|:---|
| **P r o s p e c t u s**  | **N o v e m b e r 1, 2 0 2 5** |

---

**Junk Bond Risk.** Lower-quality or unrated bonds, known as "high yield" or "junk" bonds, present greater risk than bonds of higher quality, including an increased risk of default. An economic downturn or period of rising interest rates could adversely affect the market for these bonds and reduce the Fund's ability to sell its bonds. The lack of a liquid market for these bonds could decrease the Fund's share price.

**Large Capitalization Company Risk**. Large capitalization companies may be less able than smaller capitalization companies to adapt to changing market conditions. Large capitalization companies may be more mature and subject to more limited growth potential compared with smaller capitalization companies. During different market cycles, the performance of large capitalization companies has trailed the overall performance of the broader securities markets.

**Liquidity Risk**. Some securities held by the Fund may be difficult to sell, or illiquid, particularly during times of market turmoil. Illiquid investments may also lack a readily observable or market-corroborated price and be difficult to value. If the Fund is forced to sell an illiquid asset to meet redemption requests or other cash needs, the Fund may be forced to sell at an unexpected loss.

**Management Risk**. The portfolio managers' judgments about the attractiveness, value and potential appreciation of particular securities in which the Fund invests may prove to be incorrect, and there is no guarantee that the portfolio managers' judgments will produce the desired results.

**Market Risk**. Overall stock or bond market volatility may also affect the value of the Fund. Factors such as domestic and/or foreign economic growth and market conditions, interest rate levels and political events and terrorism affect the securities markets.

**MLP and MLP-Related Securities.** Investments in MLPs and MLP-related securities involve risks different from those of investing in common stock including risks related to limited control and limited rights to vote on matters affecting the MLP or MLP-related security, risks related to potential conflicts of interest between an MLP and the MLP's general partner, cash flow risks, dilution risks (which could occur if the MLP raises capital and then invests it in projects whose return fails to exceed the cost of capital raised) and risks related to the general partner's limited call right. MLPs and MLP-related securities are generally considered interest-rate sensitive investments. During periods of interest rate volatility, these investments may not provide attractive returns. During periods of rising interest rates, the use of MLPs or MLP-related securities could hinder the overall performance of the Fund.

**MLP Tax Risk.** MLPs, typically, do not pay U.S. federal income tax at the partnership level. Instead, each partner is allocated a share of the partnership's income, gains, losses, deductions and expenses. A change in current tax law or in the underlying business mix of a given MLP could result in an MLP being treated as a corporation for U.S. federal income tax purposes, which would result in such MLP being required to pay U.S. federal income tax on its taxable income. The classification of an MLP as a corporation for U.S. federal income tax purposes would have the effect of reducing the amount of cash available for distribution by the MLP. Thus, if any of the MLPs owned by the Fund were treated as corporations for U.S. federal income tax purposes, it could result in a reduction of the value of your investment in the Fund and lower income, as compared to an MLP that is not taxed as a corporation.

---

| | |
|:---|:---|
| **EVENTIDE** | **72** |
| **EVENTIDE** | **72** |

---

---

| | |
|:---|:---|
| **P r o s p e c t u s**  | **N o v e m b e r 1, 2 0 2 5** |

---

**Options Market Risk.** Markets for options and options on futures may not always operate on a fair and orderly basis. At times, prices for options and options on futures may not represent fair market value and prices may be subject to manipulation, which may be extreme under some circumstances. The dysfunction and manipulation of volatility and options markets may make it difficult for the Fund to effectively implement its investment strategy and achieve its objectives and could potentially lead to significant losses.

**Options Risk**. As the seller (writer) of a covered call option, the Fund assumes the risk of a decline in the market price of the underlying security below the purchase price of the underlying security less the premium received and gives up the opportunity for gain on the underlying security above the exercise option price. As the buyer of a put or call option, the Fund risks losing the entire premium invested in the option if the Fund does not exercise the option. As the seller (writer) of a put option, the Fund will lose money if the value of the security falls below the strike price. The use of derivative instruments, such as options, involves risks different from, or possibly greater than, the risks associated with investing directly in securities and other traditional investments, including the risk that the counterparty to an options transaction may not fulfill its contractual obligations.

**Preferred Stock Risk.** Dividends on preferred stocks are generally payable at the discretion of the issuer's board of directors and Fund shareholders may lose money if dividends are not paid. Preferred stock prices may fall if interest rates rise or the issuer's creditworthiness becomes impaired.

**Real Estate and REIT Risk.** Investing in REITs involves certain unique risks in addition to those risks associated with investing in the real estate industry in general. Equity REITs may be affected by changes in the value of the underlying property owned by the REITs, while mortgage REITs may be affected by the quality of any credit extended.

**Sector Exposure Risk.** The Fund may focus its investments in securities of a particular sector. Economic, legislative or regulatory developments may occur that significantly affect the sector. This may cause the Fund's net asset value to fluctuate more than that of a fund that does not focus in a particular sector.

***Consumer Discretionary Sector Risk.*** The success of consumer product manufacturers and retailers is tied closely to the performance of domestic and international economies, interest rates, trade policies, exchange rates, competition, consumer confidence, changes in demographics and consumer preferences. Companies in the consumer discretionary sector depend heavily on disposable household income and consumer spending and may be strongly affected by social trends and marketing campaigns. These companies may be subject to severe competition, which may have an adverse impact on their profitability.

***Healthcare & Life Sciences Sector Risk.*** Companies in the healthcare and life sciences sectors may be heavily dependent on clinical trials with uncertain outcomes and decisions made by the governments and regulatory authorities. Further, these companies are dependent on patent protection, and the expiration of patents may adversely affect the profitability of the companies. Additionally, the profitability of some healthcare and life sciences companies may be dependent on a relatively limited number of products, and their products can become obsolete due to sector innovation, changes in technologies or other market developments.

***Industrial Sector Risk.*** Industrial companies are affected by supply and demand both for their specific product or service and for industrial sector products in general. Government regulation, world events, exchange rates and economic conditions, technological developments and liabilities for environmental damage and general civil liabilities will likewise affect the performance of these companies.

---

| | |
|:---|:---|
| **EVENTIDE** | **73** |
| **EVENTIDE** | **73** |

---

---

| | |
|:---|:---|
| **P r o s p e c t u s**  | **N o v e m b e r 1, 2 0 2 5** |

---

***Technology Sector Risk.*** Technology companies face intense competition, both domestically and internationally, which may have an adverse effect on profit margins. Technology companies may have limited product lines, markets, financial resources or personnel. The products of technology companies may face obsolescence due to rapid technological developments and frequent new product introduction, unpredictable changes in growth rates and competition for the services of qualified personnel. Companies in the technology sector are heavily dependent on patent and intellectual property rights. The loss or impairment of these rights may adversely affect the profitability of these companies.

**Security Risk**. The value of the Fund may decrease in response to the activities and financial prospects of an individual security or group of securities in the Fund's portfolio. There can be no guarantee the securities held by the Fund will appreciate in value.

**Stock Value Risk**. Stocks involve the risk that they may never reach what the Adviser believes is their full market value, either because the market fails to recognize the stock's intrinsic worth, or the Adviser misgauged that worth. Stocks also may decline in price, even though, in theory, they are already undervalued. Investments in private companies that lack readily observable or market-corroborated prices generally increase stock valuation risk because they are more difficult to value. Many private companies are not required to file periodic financial reports, leading to challenges in the Adviser's ability to evaluate a company's business prospects and the fair value of its securities. The fair valued prices assigned to the Fund's investments in private companies are based on a variety of factors, reviewed regularly, and updated as additional information becomes available. However, fair value pricing includes subjective judgments, and it is possible that the fair value assigned to a security may differ materially from the value the Fund would realize if the security were sold.

**Yieldcos Risk.** Investments in securities of yieldcos involve risks that differ from investments in traditional operating companies, including risks related to the relationship between the yieldco and the company responsible for the formation of the yieldco (the "Yieldco Sponsor"). Yieldcos typically remain dependent on the management and administration services provided by or under the direction of the Yieldco Sponsor and on the ability of the Yieldco Sponsor to identify and present the yieldco with acquisition opportunities, which may often be assets of the Yieldco Sponsor itself. To the extent that the yieldco relies on the Yieldco Sponsor for developing new assets for potential future acquisitions, the yieldco may be dependent on the development capabilities and financial health of the Yieldco Sponsor. Yieldco Sponsors may have interests that conflict with the interests of the yieldco and may retain control of the yieldco via classes of stock held by the Yieldco Sponsor. Any event that limits the yieldco's ability to maintain or grow its distributable cash flow would likely have a negative impact on the yieldco's share price.

---

| | |
|:---|:---|
| **EVENTIDE** | **74** |
| **EVENTIDE** | **74** |

---

---

| | |
|:---|:---|
| **P r o s p e c t u s**  | **N o v e m b e r 1, 2 0 2 5** |

---

Performance

The bar chart and accompanying table shown below provide an indication of the risks of investing in the Fund. The bar chart shows the performance of the Fund's Class A shares for each full calendar year since the Fund's Class A shares commenced operations. Although Class C, N and I shares have similar annual returns to Class A shares because the classes are invested in the same portfolio of securities, the returns for Class C, N, and I shares are different from Class A shares because Class C, N and I shares have different expenses than Class A shares. The performance table shows how the average annual returns of Class A, C, I and N shares compare over time with those of a broad-based market index. How the Fund has performed in the past (before and after taxes) is not necessarily an indication of how it will perform in the future. Updated performance information is available at no cost by calling 1-877-771-3836 and on the Fund's website at <u>www.eventidefunds.com</u>.

Eventide Large Cap Focus Fund Class A Annual Total Returns for the Year Ended December 31

![(BAR GRAPH)](ev009_v1.jpg)

Figures do not reflect sales charges. If they did, returns would be lower.

During the period shown in the bar chart, for the Class A shares, the highest return for a quarter was 15.36% (quarter ended December 31, 2023), and the lowest return for a quarter was (5.95)% (quarter ended September 30, 2023). The Fund's Class A year-to-date return as of September 30, 2025, was 13.42%.

---

| | | |
|:---|:---|:---|
| **Average Annual Total Returns** *(periods ended December 31, 2024)* | | |
| *Class A Shares* | *1 Year* | *Since<br> inception<br> (6/30/2022)* |
| Return Before Taxes | 9.09% | 12.83% |
| Return After Taxes on Distributions | 8.05% | 12.39% |
| Return After Taxes on Distributions and Sale of Fund Shares | 5.89% | 9.91% |
| *Class C Shares* | | |
| Return Before Taxes | 14.99% | 14.74% |
| *Class N Shares* | | |
| Return Before Taxes | 15.86% | 15.62% |
| *Class I Shares* | | |
| Return Before Taxes | 16.11% | 15.84% |
| S&P 500 Total Return Index (reflects no deduction for fees, expenses or taxes) | 25.02% | 21.11% |

---

---

| | |
|:---|:---|
| **EVENTIDE** | **75** |
| **EVENTIDE** | **75** |

---

---

| | |
|:---|:---|
| **P r o s p e c t u s**  | **N o v e m b e r 1, 2 0 2 5** |

---

After-tax returns are calculated using the highest historical individual federal marginal income tax rate and do not reflect the impact of state and local taxes. Actual after-tax returns depend on a shareholder's tax situation and may differ from those shown. After-tax returns are not relevant for shareholders who hold Fund shares in tax-deferred accounts or to shares held by non-taxable entities. After-tax returns are only shown for Class A shares. After-tax returns for other share classes, which are not shown, will vary from those of Class A shares.

**Adviser.** Eventide Asset Management, LLC is the Fund's investment adviser.

**Portfolio Managers.** Andrew Singer, CFA, Portfolio Manager and Senior Research Analyst of the Adviser, and Dolores S. Bamford, CFA, Co-Chief Investment Officer and Senior Portfolio Manager of the Adviser, serve as Portfolio Managers of the Fund. Mr. Singer has served the Fund in this capacity since the Fund commenced operations in June 2022. Ms. Bamford has served the Fund as a Portfolio Manager since May 2024.

**Purchase and Sale of Fund Shares.** The minimum initial investment in Class A, Class C and Class N Shares of the Fund, as well as Class I shares purchased directly from the Fund, is $1,000 for a regular account and for an IRA account, or $100 for an automatic investment plan account. The minimum initial investment in Class I shares purchased through a financial intermediary is $100,000 for all accounts. You may purchase and redeem shares of the Fund on any day that the New York Stock Exchange is open. Redemptions requests may be made in writing, online, by telephone or through a financial intermediary to the Fund or the Fund's transfer agent and will be paid by check or wire transfer.

**Tax Information.** Dividends and capital gain distributions you receive from the Fund, whether you reinvest your distributions in additional Fund shares or receive them in cash, are taxable to you at either ordinary income or capital gains tax rates unless you are investing through a tax-deferred plan. If you are investing in a tax-deferred plan, distributions may be taxable upon withdrawal from the plan.

**Payments to Broker-Dealers and Other Financial Intermediaries.** If you purchase the Fund through a broker-dealer or other financial intermediary (such as a bank), the Fund and its related companies may pay the intermediary for the sale of Fund shares and related services. These payments may create a conflict of interest by influencing the broker-dealer or other intermediary and your salesperson to recommend the Fund over another investment. Ask your salesperson or visit your financial intermediary's website for more information.

---

| | |
|:---|:---|
| **EVENTIDE** | **76** |
| **EVENTIDE** | **76** |

---

---

| | |
|:---|:---|
| **P r o s p e c t u s**  | **N o v e m b e r 1, 2 0 2 5** |

---

Additional Information about Each Fund's Principal Investment Strategies and Related Risks

---

| | |
|:---|:---|
| Fund | Objective |
| Eventide Gilead Fund | Long-term capital appreciation. |
| Eventide Healthcare & Life Sciences Fund | Long-term capital appreciation. |
| Eventide Balanced Fund | Current income while maintaining the potential for capital appreciation. |
| Eventide Dividend Growth Fund | Dividend growth and long-term capital appreciation. The Fund's secondary objective is dividend income. |
| Eventide Limited-Term Bond Fund | Income. |
| Eventide Exponential Technologies Fund | Long-term capital appreciation. |
| Eventide Core Bond Fund | Total return consistent with income generation. |
| Eventide Large Cap Focus Fund | Long-term capital appreciation. |

---

The investment objective of each Fund is non-fundamental and may be changed by the Board of Trustees without shareholder approval.

Shareholders will be given 60 days' advance notice if the Board decides to change any of the following:

&nbsp;&nbsp;&nbsp;&nbsp;■ a
Fund's investment objective;

&nbsp;&nbsp;&nbsp;&nbsp;■ the
Healthcare & Life Sciences Fund's policy to invest at least 80% of its net assets (plus borrowings for investment purposes)
in equity and equity-related securities of healthcare and life sciences companies;

&nbsp;&nbsp;&nbsp;&nbsp;■ the
Dividend Growth Fund's policy to invest at least 80% of the Fund's net assets (plus the amount of borrowings for investment
purposes) in the companies that the Adviser believes have the ability to increase dividends over the long term;

&nbsp;&nbsp;&nbsp;&nbsp;■ the
Limited-Term Bond Fund's policy and the Core Bond Fund's policy to invest at least 80% of Fund net assets (plus borrowings
for investment purposes) in bonds;

&nbsp;&nbsp;&nbsp;&nbsp;■ the
Exponential Technologies Fund's policy to invest at least 80% of its net assets (plus borrowings for investment purposes) in technology
companies; or

&nbsp;&nbsp;&nbsp;&nbsp;■ the
Large Cap Focus Fund's policy to invest at least 80% of its net assets (plus borrowings for investment purposes) in large capitalization
companies.

The Healthcare & Life Sciences Fund's policy to invest over 25% of its assets in drug-related industries is fundamental and may not be changed without shareholder approval. The Exponential Technologies Fund's policy to invest over 25% of its net assets in the software, technology hardware and equipment, semiconductor, and communications group of industries is fundamental and may not be changed without shareholder approval. The Large Cap Focus Fund's policy to invest over 25% in the software and semiconductor industries is fundamental and may not be changed without shareholder approval.

Principal Investment Strategies

Each Fund's main investment strategies described in this prospectus are the strategies that the Adviser believes are most likely to be important in trying to achieve the Fund's investment objective. You should note, however, that each Fund may use other non-principal strategies and invest in other securities not described in this prospectus,

---

| | |
|:---|:---|
| **EVENTIDE** | **77** |
| **EVENTIDE** | **77** |

---

---

| | |
|:---|:---|
| **P r o s p e c t u s**  | **N o v e m b e r 1, 2 0 2 5** |

---

which are disclosed in detail in the Funds' Statement of Additional Information ("SAI"). For a copy of the SAI please call toll free at 877-771-3836 or visit the Funds' website <u>www.eventidefunds.com</u>.

**Faith-Based Screening.** The Adviser uses its proprietary screening methodology to analyze all potential investments for the company's ability to operate with integrity and to create value for customers, employees, and other stakeholders by reflecting the values described below. The values assessed in the Adviser's screening process are inspired by the Christian faith and rooted in a biblical worldview. While few companies may reach these ideals in every area of their business, these principles articulate the Adviser's highest expectations for the companies in which the Fund invests. The Adviser uses its screening process in connection with other fundamental research processes to establish the Fund's eligible investment universe. Securities are generally ineligible within the Fund's portfolio unless the Adviser believes that the faith-based screens are met. If the Adviser's research identifies events and/or business changes suggesting that a portfolio company no longer meets the faith-based criteria, the Fund may hold the company's securities while the Adviser performs additional research, including possible direct engagement with the company to assess practices. The Adviser's faith-based screening process for potential investments does not apply relative weights between values-based factors and financial factors. There is no guarantee that the Adviser will be able to successfully screen out all companies that are inconsistent with the following principles which help to guide the Adviser's research and investment framework. Specifically, the Adviser seeks to invest in companies that reflect the following values:

&nbsp;&nbsp;&nbsp;&nbsp;■ Respecting
the value and freedom of all people: this includes the right to life at all stages and freedom from addictive behaviors caused by gambling,
pornography, tobacco, and alcohol.

&nbsp;&nbsp;&nbsp;&nbsp;■ Demonstrating
a concern for justice and peace: this includes fair and ethical relationships with customers, suppliers, and business partners and avoiding
products and services that promote weapons production and proliferation.

&nbsp;&nbsp;&nbsp;&nbsp;■ Promoting
family and community: this includes protecting children from violent forms of entertainment and serving low-income communities.

&nbsp;&nbsp;&nbsp;&nbsp;■ Exhibiting
responsible management practices: this includes fair dealing with employees, communities, competitors, suppliers, and customers as demonstrated
by a company's record regarding litigation, regulatory actions against the company, and its record of providing products and services
that improve the lives of people.

&nbsp;&nbsp;&nbsp;&nbsp;■ Practicing
environmental stewardship: this includes practices considered more sustainable than those of industry peers, reduction in environmental
impact when compared to previous periods, and/or the use of more efficient and cleaner energy sources.

Consistent with the Adviser's values, the Funds may invest in domestic and/or foreign fixed-income securities, such as notes (including standalone notes that are not rated by any agency), to help fund community development institutions and projects aimed at serving human needs such as those of low-to-moderate income families and communities.

Securities may be sold when the Adviser (or Sub-Adviser, if applicable) believes that they no longer represent relatively attractive investment opportunities or when the Adviser believes the underlying company is no longer consistent with the Adviser's faith-based values.

---

| | |
|:---|:---|
| **EVENTIDE** | **78** |
| **EVENTIDE** | **78** |

---

---

| | |
|:---|:---|
| **P r o s p e c t u s**  | **N o v e m b e r 1, 2 0 2 5** |

---

GILEAD FUND

Normally, the Fund invests primarily in a broad range of equity securities without limitation to market capitalization. The Fund may invest without limitation in securities in companies domiciled outside the United States either directly or through ADRs.

The Adviser seeks to invest in attractively valued securities that, in its opinion, represent above-average long-term investment opportunities or have significant near-term appreciation potential and that are capable of serving well the needs of customers, employees, suppliers, communities, the environment, and society broadly. The Adviser primarily considers securities for the Fund's portfolio based on analysis of the holdings and recommendations of investors, analysts, firms or strategies that, in the Adviser's opinion, have exhibited superior results, but the Adviser also considers securities that the Adviser believes are undervalued based on indicators such as the price-to-sales ratio or future free cash flow estimates. This pool of securities represents the potential universe of securities for the Fund. The Adviser analyzes these securities to identify what it believes are the most attractive investment opportunities for the Fund. From time to time, the Fund may invest a substantial portion of its assets in the stock of companies in one or more sectors of the economy, such as the technology, industrials, healthcare and life sciences sectors. The Fund may invest in Illiquid Investments, but will not invest more than 15% of the Fund's net assets in Illiquid Investments. Illiquid Investments are investments that are not reasonably expected to be sold or disposed of in seven calendar days or less without the sale or disposition significantly changing the market value of the investment.

The Fund may invest in development stage companies. The Adviser may use options strategies, such as puts and covered calls on individual securities, as well as options on securities indices, to generate income, to reduce portfolio volatility, or to reduce downside risk when the Adviser believes adverse market, political or other conditions are likely. The Adviser may also utilize a combination of puts and/or calls on the same security (sometimes referred to as "straddles," "collars" or "spreads") or utilize puts and calls on related securities.

Puts and Calls

The Fund may buy and sell (write) call options on individual securities. The purchaser of a call option has the right to buy a security from the seller at a predetermined price (exercise price) during the life of the option. An option is considered "covered" if the seller owns the security against which the option is written. As the seller of a call option, the Fund receives a premium from the purchaser of the option, which provides additional income to the Fund. The Fund may also buy and sell (write) put options. A put option gives the buyer the right to sell (or "put") a security at a fixed price within a given time frame in exchange for a premium paid by the buyer. If the market price drops below the strike price, the buyer will be able to sell the security for the strike price, thereby limiting the buyer's potential loss until the option expires.

Securities index options are designed to reflect price fluctuations in a group of securities or segment of the securities market rather than price fluctuations in a single security. Options on securities indices are similar to options on securities, except that the exercise of securities index options requires cash payments and does not involve the actual purchase or sale of securities. The Fund will engage in transactions in put and call options on securities indices for the same purposes as it engages in transactions in options on securities.

---

| | |
|:---|:---|
| **EVENTIDE** | **79** |
| **EVENTIDE** | **79** |

---

---

| | |
|:---|:---|
| **P r o s p e c t u s**  | **N o v e m b e r 1, 2 0 2 5** |

---

HEALTHCARE & LIFE SCIENCES FUND

Under normal market conditions, the Fund invests at least 80% of its net assets (plus borrowings for investment purposes) in equity and equity-related securities of companies in the healthcare and life sciences sectors, including common stock, options, preferred stock and convertible debt. Healthcare and life sciences companies include those companies that derive or are expected to derive 50% or more of their revenue from healthcare and life science products and services including, but not limited to, biotechnology, pharmaceuticals, diagnostics, life science tools, medical devices, healthcare information technology, healthcare services, synthetic biology, agricultural and environmental management, and pharmaceutical manufacturing products and services. These investments may include Illiquid Investments. The Fund will not invest more than 15% of the Fund's net assets in Illiquid Investments. These companies may include development stage companies and special purpose acquisition companies. The Fund may invest without limitation in securities of companies domiciled outside the United States either directly or through ADRs. The Fund may invest in securities of companies of any market capitalization.

The Adviser utilizes a fundamental "bottom-up" analysis to evaluate investments for inclusion in the Fund's portfolio. The Adviser seeks to invest in attractively valued securities that, in its opinion, represent above-average long-term investment opportunities or have significant near-term appreciation potential and that are capable of serving well the needs of customers, employees, suppliers, communities, the environment, and society broadly. The Adviser favors investments that it believes will have relatively low correlation to the overall market. The valuation of these investments may respond dramatically to clinical trial outcomes or regulatory decisions, providing atypical upside or downside volatility.

The Adviser uses options strategies, such as calls, covered calls, and puts on individual securities, as well as options on securities indices, to enhance returns, generate income, to reduce portfolio volatility, or to reduce downside risk when the Adviser believes adverse market, political or other conditions are likely. The Adviser may also utilize a combination of puts and/or calls on the same security (sometimes referred to as "straddles," "collars" or "spreads") or utilize puts and calls on related securities. The Adviser only makes use of these derivative strategies where the derivatives' underlying security is within or related to the sectors in which the Fund normally invests.

The Fund concentrates investments in the drug-related industries by investing over 25% of its assets in drug-related industries. This group of industries includes pharmaceutical, biotech and similar companies that primarily develop, produce or distribute drugs, medicines, diagnostic chemicals and biological products used to diagnose, prevent or treat diseases or maintain health.

BALANCED FUND

The Fund has significant flexibility to achieve its investment objective by primarily investing in a broad universe of income-producing securities. These securities include debt and equity securities of companies in the U.S. and other markets around the world. The Fund's investments in foreign securities may be made without limitation, directly or through ADRs.

The Fund uses a balanced strategy allocating approximately equally between equity income and fixed income with a bottom-up quality investing and secular theme focus seeking to achieve consistent returns and lower volatility than the markets. There is no guarantee that the Fund will achieve this goal. The Fund's balanced strategy means that

---

| | |
|:---|:---|
| **EVENTIDE** | **80** |
| **EVENTIDE** | **80** |

---

---

| | |
|:---|:---|
| **P r o s p e c t u s**  | **N o v e m b e r 1, 2 0 2 5** |

---

equity investments will not typically represent more than 55% of the Fund's portfolio. The Fund's balanced strategy also means that the Fund invests at least 25% of its assets in equity securities and at least 25% of its assets in fixed income securities. The Fund is focused on identifying and investing in companies capable of increasing profitability, growth, and income distribution by serving well the needs of customers, employees, suppliers, communities, the environment, and society broadly. The Fund has broad discretion to invest in securities in the pursuit of the Fund's objectives. These securities may include but are not limited to common stocks, yieldcos, REITs, preferred stocks, corporate bonds, government agency bonds, municipal bonds, mortgage-backed securities, asset-backed securities (including auto loans and leases, equipment loans and leases, and credit cards); convertible securities and options. The Fund may invest in a particular type of security without limitation but limits its investment in a particular industry to less than 25% of the Fund's net assets. The Fund may invest in companies of any market capitalization. The Fund may invest in bonds of any maturity and, under normal market conditions, the bonds held in the Fund's portfolio have an average duration of between two and eight years. The Fund may invest in bonds of any credit quality, including, without limitation, non-investment grade bonds rated below Baa3 by Moody's or below BBB- by S&P (also known as "junk" bonds). The Fund may invest in Illiquid Investments, but will not invest more than 15% of the Fund's net assets in Illiquid Investments. Illiquid Investments are investments that are not reasonably expected to be sold or disposed of in seven calendar days or less without the sale or disposition significantly changing the market value of the investment. The Adviser utilizes a fundamental "bottom-up" analysis to evaluate investments for inclusion in the Fund's portfolio. The Adviser seeks to invest in attractively valued securities that, in its opinion, represent above-average long-term investment opportunities. The Adviser favors investments that it believes will have relatively low correlation or volatility to the overall market. The Adviser seeks to invest in securities that, in its opinion, are attractively valued, provide attractive current income, provide income appreciation potential, provide capital appreciation potential, and/or help to reduce overall portfolio volatility.

The Adviser may use options, such as puts or calls on individual securities, as well as options on securities indices, to enhance returns, generate income, to reduce portfolio volatility, or to reduce downside risk when the Adviser believes prudent. To enhance income the Adviser has the ability to sell call options on stocks held in the portfolio (covered call writing). In exchange for the option premium received, the Fund gives up potential upside in the underlying stock. The Adviser also has the ability to write put options on stocks deemed to be attractive purchases at lower price levels. The Adviser may also utilize a combination of puts and/or calls regarding the same security (sometimes referred to as "straddles," "collars" or "spreads") or utilize puts and calls on related securities.

The Adviser has retained the Sub-Adviser to manage some of the Fund's assets allocated for investment in the fixed income portion of the Fund's portfolio. In selecting securities for investment by the Fund, the Sub-Adviser employs a top-down approach to determine how to structure the bond allocation taking into consideration duration, maturity, and sector allocation. The Sub-Adviser then initiates a process of security analysis based on several factors including, but not limited to, economic trends, industry assessments and issuer specific credit fundamentals.

DIVIDEND GROWTH FUND

The Fund seeks to achieve its investment objective by investing in securities with dividend growth attributes, which may include historical dividend growth characteristics and/or strong free cash flow generation and healthy balance sheet characteristics. The Fund has broad discretion to invest in securities selected by the Adviser in the pursuit of the Fund's objectives and to maintain flexibility for investing in domestic and foreign securities across all market capitalizations and economic sectors without limitation. The Fund's investments in foreign securities may be made either directly or through ADRs. The Fund is focused on identifying and investing in companies capable of increasing

---

| | |
|:---|:---|
| **EVENTIDE** | **81** |
| **EVENTIDE** | **81** |

---

---

| | |
|:---|:---|
| **P r o s p e c t u s**  | **N o v e m b e r 1, 2 0 2 5** |

---

profitability, growth, and dividend growth by serving well the needs of customers, employees, suppliers, communities, the environment, and society broadly.

The Fund may invest in a particular type of security without limitation but limits its investment in a particular industry to less than 25% of the Fund's net assets. The Fund may invest in Illiquid Investments, but will not invest more than 15% of the Fund's net assets in Illiquid Investments. Illiquid Investments are investments that are not reasonably expected to be sold or disposed of in seven calendar days or less without the sale or disposition significantly changing the market value of the investment. The Adviser utilizes a fundamental "bottom-up" analysis to evaluate investments for inclusion in the Fund's portfolio. The Adviser seeks to invest in attractively valued securities that, in its opinion, represent above-average long-term investment opportunities or have significant near-term appreciation potential. The Adviser favors investments that it believes will have relatively low correlation or volatility to the overall market. The Adviser seeks to invest in securities that, in its opinion, are attractively valued, provide attractive current income, provide income appreciation potential, provide capital appreciation potential, and/or help to reduce overall portfolio volatility.

The Adviser may use options, such as puts or calls on individual securities, as well as options on securities indices, to enhance returns, generate income, to reduce portfolio volatility, or to reduce downside risk when the Adviser believes it to be prudent. To enhance income the Adviser has the ability to sell call options on stocks held in the portfolio (covered call writing). In exchange for the option premium received, the Fund gives up potential upside in the underlying stock. The Adviser also has the ability to write put options on stocks it has deemed to be attractive purchases at lower price levels.

The Adviser may also utilize a combination of puts and/or calls on the same security (sometimes referred to as "straddles," "collars" or "spreads") or utilize puts and calls on related securities.

Distribution Policy and Goals (Balanced Fund and Dividend Growth Fund Only)

The Balanced Fund's distribution policy is to make approximately twelve distributions to shareholders per calendar year and the Dividend Growth Fund's distribution policy is to make approximately four distributions to shareholders per calendar year. The frequency of distributions will be based on the availability of distributable income and the investment needs of the relevant Fund. The level of periodic distributions (including any return of capital) is not fixed and is not designed to generate, and is not expected to result in, distributions that equal a fixed percentage of a Fund's current net asset value per share. Income may be distributed regardless of whether such income will be treated as return of capital.

The Balanced Fund and Dividend Growth Fund generally distribute to shareholders substantially all of their net income (for example, interest and dividends) approximately twelve times per year and four times a year, respectively, and each Fund generally distributes to shareholders substantially all of its net capital gains (that is, long-

---

| | |
|:---|:---|
| **EVENTIDE** | **82** |
| **EVENTIDE** | **82** |

---

---

| | |
|:---|:---|
| **P r o s p e c t u s**  | **N o v e m b e r 1, 2 0 2 5** |

---

term capital gains from the sale of portfolio securities and short-term capital gains from both the sale of portfolio securities and option premium earned) annually. In addition, pursuant to its distribution policy, each Fund may make distributions that are treated as a return of capital. Return of capital is the portion of a distribution that is the return of your original investment dollars in a Fund. A return of capital is not taxable to a shareholder unless it exceeds a shareholder's tax basis in the shares.

Returns of capital reduce a shareholder's tax cost (or "tax basis"). Once a shareholder's tax basis is reduced to zero, any further return of capital would be taxable. Shareholders receiving periodic payments from either Fund may be under the impression that they are receiving net profits. However, all or a portion of a distribution may consist of a return of capital (i.e., from your original investment). Shareholders should not assume that a Fund's distribution rate or the source of a distribution from the Fund is net profit. Shareholders should note that return of capital will reduce the tax basis of their shares and potentially increase the taxable gain, if any, upon disposition of their shares. As required under the 1940 Act, the Funds provide a notice to shareholders at the time of distribution when such distribution does not consist solely of net income. Additionally, each distribution payment will be accompanied by a written statement which discloses the estimated source or sources of each distribution. The Internal Revenue Service (the "IRS") requires you to report these amounts, excluding returns of capital, on your income tax return for the year declared. The Balanced Fund will provide disclosures with each monthly distribution and the Dividend Growth Fund will provide disclosures with each quarterly distribution, that estimate the percentages of the current and year-to-date distributions that represent (1) net investment income, (2) capital gains and (3) return of capital. At the end of the year, the Funds may be required under applicable law to re-characterize distributions made previously during that year among (1) ordinary income, (2) capital gains and (3) return of capital for tax purposes. An additional distribution may be made in December, and other additional distributions may be made with respect to a particular fiscal year in order to comply with applicable law. Distributions declared in December, if paid to shareholders by the end of January, are treated for federal income tax purposes as if received in December.

LIMITED-TERM BOND FUND

The Fund seeks to achieve its objective through investments in income-producing securities issued by entities deemed by the Adviser to be serving well the needs of customers, employees, suppliers, communities, the environment, and society broadly. Income producing securities that the Fund may invest in include, but are not limited to, corporate bonds; preferred stocks, convertible debt and other hybrid securities that have debt and equity characteristics but are predominantly debt in nature; agency and non-agency residential and commercial mortgage-backed securities; asset-backed securities (including auto loans and leases, equipment loans and leases, and credit cards); green bonds (i.e., bonds that allow issuers to use proceeds for environmental projects); social bonds (i.e., bonds that allow issuers to use proceeds for social projects); sustainable bonds (i.e., bonds that are a combination of green and social bonds); government agency debt instruments; and municipal bonds (collectively, "Bonds"). Under normal circumstances, the Fund invests at least 80% of its net assets (plus borrowings for investment purposes) in Bonds. Fixed income investments may be of any maturity, but the Fund's weighted average effective portfolio duration will not exceed five years. Duration is a measure of the expected life of a fixed income instrument that is used to determine the sensitivity of a security's price to changes in interest rates. Effective duration is a measure of the Fund's portfolio duration adjusted for the anticipated effect of interest rate changes on bond and mortgage pre-payment rates. The longer a security's duration, the more sensitive it will be to changes in interest rates. The more sensitive a security is to changes in interest rates, the higher its volatility risk. For example, if a bond has a duration of 5 years, a 1% rise in rates would result in approximately a 5% decline in the bond's price. If a bond has a duration of 10 years, a 1% rise in interest rates would result in approximately a 10% decline in the bond's price. The Fund may

---

| | |
|:---|:---|
| **EVENTIDE** | **83** |
| **EVENTIDE** | **83** |

---

---

| | |
|:---|:---|
| **P r o s p e c t u s**  | **N o v e m b e r 1, 2 0 2 5** |

---

invest in bonds of any credit quality, including, without limitation, non-investment grade bonds rated below Baa3 by Moody's or below BBB- by S&P (also known as "junk" bonds) but expects to invest predominantly in investment grade securities. With respect to both fixed income and equity securities, the Fund may invest in the securities of foreign entities and may invest in companies of any market capitalization. The Fund may invest in Illiquid Investments, but will not invest more than 15% of the Fund's net assets in Illiquid Investments. Illiquid Investments are investments that are not reasonably expected to be sold or disposed of in seven calendar days or less without the sale or disposition significantly changing the market value of the investment.

Investments that meet the Adviser's faith-based criteria are analyzed by the Sub-Adviser for possible inclusion in the Fund's portfolio. The Sub-Adviser builds the Fund's portfolio based on macroeconomic trends and forecasts in economic growth, inflation expectations, and monetary policy. The Sub-Adviser strives to generate excess return through sector allocation (adjusting allocations across major sectors of the bond market based on assessments of fundamentals and current versus historical valuation relationships), duration management (holding securities to optimize interest rates), yield curve positioning (adjusting holdings to capitalize on expected changes in the Treasury yield curve), and security selection. The ability of the Sub-Adviser to deliver returns varies according to the economic and market environment. The Sub-Adviser's methods are intended to accumulate value over a full market cycle.

EXPONENTIAL TECHNOLOGIES FUND

Under normal market conditions, the Fund invests at least 80% of its net assets (plus borrowings for investment purposes) in companies that the Adviser believes are participating in and benefitting from technologies, innovations, technology themes, or technology trends. The types of companies represented in the Fund's portfolio include, but are not limited to, companies falling within the information technology, internet media and services, healthcare technology, healthcare devices, or financial technology (i.e., Fintech) industries. The Fund invests primarily in companies that the Adviser believes are participating in and benefitting from technologies, innovations, themes, or trends that have long-term exponential characteristics and that serve well the needs of customers, employees, suppliers, communities, the environment, and society broadly. The term "exponential" means the potential for accelerated advancements in technologies that can positively impact capabilities and development cycles of a company's products and services. Not every company in the Fund's portfolio will experience exponential growth, and the Fund is not expected to deliver exponential returns.

The Adviser utilizes a fundamental "bottom-up" analysis and quantitative screening to find and evaluate investments for inclusion in the Fund's portfolio. The Adviser seeks to invest in attractively valued securities that, in its opinion, represent above-average long-term investment opportunities or have significant near-term appreciation potential. Characteristics the Adviser incorporates in its investment opportunity screening considerations include strong organic revenue growth, growing market share, superior unit economics (e.g., considering metrics and lifecycles unique to particular businesses), defensible competitive advantages and quality management teams. Valuation is an integral part of the investment process and purchase decisions are based on the potential reward relative to risk of each security which, in turn, is partly based on the Adviser's earnings calculations.

The Fund gains exposure to technology companies primarily through investing in equity securities including common stock, options, and preferred stock. These companies include development stage companies, some of which have not commenced business operations or have not generated significant revenue. The Fund may invest without limitation in securities of companies domiciled outside the United States either directly or through ADRs. The Fund may invest in securities of companies of any market capitalization. The Fund may invest in Illiquid Investments, but will not

---

| | |
|:---|:---|
| **EVENTIDE** | **84** |
| **EVENTIDE** | **84** |

---

---

| | |
|:---|:---|
| **P r o s p e c t u s**  | **N o v e m b e r 1, 2 0 2 5** |

---

invest more than 15% of the Fund's net assets in Illiquid Investments. Illiquid Investments are investments that are not reasonably expected to be sold or disposed of in seven calendar days or less without the sale or disposition significantly changing the market value of the investment.

The Adviser uses options strategies, such as calls, covered calls, and puts on individual securities, as well as options on securities indices, to enhance returns, generate income, to reduce portfolio volatility, or to reduce downside risk when the Adviser believes adverse market, political or other conditions are likely. The Adviser may also utilize a combination of puts and/or calls regarding the same security (sometimes referred to as "straddles," "collars" or "spreads") or utilize puts and calls on related securities. The Adviser only makes use of these derivative strategies where the derivative's underlying security is within or related to the sectors in which the Fund normally invests.

The Fund is classified as "non-diversified" for purposes of the 1940 Act, which means that it is not limited by the 1940 Act with regard to the portion of its assets that may be invested in the securities of a single issuer. The Fund concentrates investments in the software, technology hardware and equipment, semiconductor, and communications group of industries because, under normal circumstances, it invests over 25% of its net assets in companies in this group of industries.

CORE BOND FUND

The Fund seeks to achieve its objective through investments in income producing securities issued by entities deemed by the Adviser to be serving well the needs of customers, employees, suppliers, communities, the environment, and society broadly. Income producing securities that the Fund may invest in include, but are not limited to, corporate bonds; preferred stocks, convertible debt and other hybrid securities that have debt and equity characteristics but are predominantly debt in nature; agency and non-agency residential and commercial mortgage-backed securities; asset-backed securities (including auto loans and leases, equipment loans and leases, and credit cards); green bonds (i.e., bonds that allow issuers to use proceeds for environmental projects); social bonds (i.e., bonds that allow issuers to use proceeds for social projects); sustainable bonds (i.e., bonds that are a combination of green and social bonds); government agency debt instruments; and municipal bonds (collectively, "Bonds"). Under normal market circumstances, the Fund invests at least 80% of its net assets (plus borrowings for investment purposes) in Bonds.

The Fund may invest in Bonds of any maturity and, under normal market conditions, the Bonds held by the Fund have a weighted average duration between three years and nine years. Duration is a measure of the expected life of a fixed income instrument that is used to determine the sensitivity of a security's price to changes in interest rates. Effective duration is a measure of the Fund's portfolio duration adjusted for the anticipated effect of interest rate changes on bond and mortgage pre-payment rates. The longer a security's duration, the more sensitive it will be to changes in interest rates. The more sensitive a security is to changes in interest rates, the higher its volatility risk. For example, if a bond has a duration of 5 years, a 1% rise in rates would result in approximately a 5% decline in the bond's price. If a bond has a duration of 10 years, a 1% rise in interest rates would result in approximately a 10% decline in the bond's price. The Fund may invest in bonds of any credit quality, including, without limitation, non-investment grade bonds rated below Baa3 by Moody's or below BBB- by S&P (also known as "junk" bonds) but invests predominantly in investment grade securities. With respect to both fixed income and equity securities, the Fund may invest in the securities of foreign entities and may invest in companies of any market capitalization. The Fund may invest in Illiquid Investments, but will not invest more than 15% of the Fund's net assets in Illiquid

---

| | |
|:---|:---|
| **EVENTIDE** | **85** |
| **EVENTIDE** | **85** |

---

---

| | |
|:---|:---|
| **P r o s p e c t u s**  | **N o v e m b e r 1, 2 0 2 5** |

---

Investments. Illiquid Investments are investments that are not reasonably expected to be sold or disposed of in seven calendar days or less without the sale or disposition significantly changing the market value of the investment.

Investments that meet the Adviser's faith-based criteria are analyzed by the Sub-Adviser for possible inclusion in the Fund's portfolio. The Sub-Adviser builds the Fund's portfolio based on macroeconomic trends and forecasts in economic growth, inflation expectations, and monetary policy. The Sub-Adviser strives to generate excess return through sector allocation (adjusting allocations across major sectors of the bond market based on assessments of fundamentals and current versus historical valuation relationships), duration management (holding securities to optimize interest rates), yield curve positioning (adjusting holdings to capitalize on expected changes in the Treasury yield curve), and security selection. The ability of the Sub-Adviser to deliver returns varies according to the economic and market environment. The Sub-Adviser's methods are intended to accumulate value over a full market cycle.

Sector allocation decisions involve examining fundamentals, historical spread and cross-sector spread relationships, and supply and demand. Through duration management, the Sub-Adviser applies fundamental and technical analysis to manage interest rate exposures relative to short-and long-term expectations. Yield curve positioning is developed by examining monetary policy, inflation expectations, and supply and demand relative to expectations for curve reshaping. Security selection involves applying a top-down, bottom-up approach that blends quantitative screening and fundamental credit research to achieve optimal risk/reward characteristics.

LARGE CAP FOCUS FUND

The Fund may invest without limitation in securities in companies domiciled outside the United States either directly or through ADRs. The Fund may invest a substantial portion of its assets in the stock of companies in one or more sectors of the economy, such as the technology, industrial, consumer discretionary and healthcare sectors. The Fund concentrates investments in the software and semiconductor industries by investing, under normal circumstances, over 25% of its assets in companies in this group of industries.

---

| | |
|:---|:---|
| **EVENTIDE** | **86** |
| **EVENTIDE** | **86** |

---

---

| | |
|:---|:---|
| **P r o s p e c t u s**  | **N o v e m b e r 1, 2 0 2 5** |

---

The Fund may invest in Illiquid Investments, but will not invest more than 15% of the Fund's net assets in Illiquid Investments. Illiquid Investments are investments that are not reasonably expected to be sold or disposed of in seven calendar days or less without the sale or disposition significantly changing the market value of the investment. The Adviser may use options strategies, such as puts and covered calls on individual securities, as well as options on securities indices, to generate income, to reduce portfolio volatility, or to reduce downside risk when the Adviser believes adverse market, political or other conditions are likely. The Adviser may also utilize a combination of puts and/or calls regarding the same security (sometimes referred to as "straddles," "collars" or "spreads") or utilize puts and calls on related securities.

The Adviser applies a combination of methods within its fundamental research process and systems to help cover a range of company-related information. This includes qualitative and quantitative data that can inform the Adviser's investment decisions, such as company reports, news and research offered by third parties. This information can reflect on a company's financial and competitive position, risks, and business reputation and ethical standing in the marketplace. The Adviser typically obtains values-based data from multiple third-party providers, which the Adviser changes from time to time based on research needs and industry developments. Values-based data offers additional inputs to the Adviser's fundamental research process and investment framework. The Adviser views third-party information as part of its overall research rather than assigning any particular data source as the determinative factor in investment decisions. The Adviser believes that considering a broad range of research information, from multiple sources, can help to mitigate risks associated with misinterpreting data or relying on inaccurate information provided by third parties, but cannot guarantee that any third-party information it receives is accurate or free of defects. The Adviser maintains research supporting its investment decisions.

Securities may be sold when the Adviser believes that they no longer represent relatively attractive investment opportunities or when the Adviser believes the underlying company is no longer consistent with the Adviser's values.

Non-Principal Investment Strategy

Each Fund may engage in short selling with respect to up to 10% of its assets.

Manager-of-Managers Order (Balanced Fund*,* Dividend Growth Fund, Limited-Term Bond Fund, Exponential Technologies Fund, Core Bond Fund, and Large Cap Focus Fund Only)

The Trust and the Adviser have applied for and obtained an exemptive order (the "Order") from the SEC that would permit the Adviser, with the Board's approval, to enter into sub-advisory agreements with one or more sub-advisers with respect to one of the above-named Funds without obtaining shareholder approval. The Order permits the Adviser, subject to the approval of the Board, to replace sub-advisers or amend sub-advisory agreements, including fees, without shareholder approval whenever the Adviser and the Board believe such action will benefit the Fund and its shareholders.

Temporary Defensive Positions

From time to time, a Fund may take temporary defensive positions, which are inconsistent with the Fund's principal investment strategies, in attempting to respond to adverse market, economic, political, or other conditions. For example, a Fund may hold all or a portion of its assets in money market instruments, including cash, cash equivalents, U.S. government securities, other investment grade fixed income securities, certificates of deposit, banker's acceptances, commercial paper, money market funds and repurchase agreements. A Fund may also use options strategies that the Adviser believes may mitigate the effects of adverse conditions in order to continue to

---

| | |
|:---|:---|
| **EVENTIDE** | **87** |
| **EVENTIDE** | **87** |

---

---

| | |
|:---|:---|
| **P r o s p e c t u s**  | **N o v e m b e r 1, 2 0 2 5** |

---

pursue its investment objective. If a Fund invests in a money market fund, the shareholders of the Fund generally will be subject to duplicative advisory fees. Although a Fund would do this only in seeking to avoid losses, the Fund will not be able to pursue its investment objective during that time, and it could reduce the benefit from any upswing in the market. A Fund may also invest in money market instruments at any time to maintain liquidity or pending selection of investments in accordance with its policies.

Principal Risks of Investing in the Funds

All mutual funds carry a certain amount of risk. As with any mutual fund, there is no guarantee that a Fund will achieve its objective. Investment markets are unpredictable and there will be certain market conditions where the Fund will not meet its investment objective and will lose money. Each Fund's net asset value and returns will vary and you could lose money on your investment in the Fund and those losses could be significant. An investment in a Fund is not a deposit of any bank and is not insured or guaranteed by the Federal Deposit Insurance Corporation or any other government agency. Also, an investment in a Fund is not a complete investment program.

The following table identifies the principal and non-principal risks of the Funds. These risks could adversely affect the net asset value, total return and the value of the Fund and your investment. The principal risks of a Fund are identified by a "✔."

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| | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| **<br> Risks** | **<br> Gilead<br> Fund** | **Healthcare<br> &<br> Life<br> Sciences<br> Fund** | **Balanced<br> Fund** | **Dividend<br> Growth<br> Fund** | **Limited-<br> Term<br> Bond<br> Fund** | **Exponential<br> Technologies<br> Fund** | **Core<br> Bond<br> Fund** | **Large<br> Cap<br> Focus<br> Fund** |
| **ADRs Risk** | ✔ | ✔ | ✔ | ✔ |  | ✔ |  | ✔ |
| **Allocation Risk** |  |  | ✔ |  |  |  |  |  |
| **Asset-Backed and Mortgage-Backed Security Risk** |  |  | ✔ |  | ✔ |  | ✔ |  |
| **Bank Loans Risk** |  |  |  |  |  |  |  |  |
| **Basic Materials Industry Risk** |  |  |  |  |  |  |  |  |
| **Business Development Companies ("BDC") Risk** |  |  |  |  |  |  |  |  |
| **Call Options Risk** |  |  |  |  |  |  |  |  |
| **Capacity Risk** |  |  |  |  |  |  |  |  |
| **Cash or Cash Equivalents Risk** |  |  |  |  |  |  |  |  |
| **Cash Strategy Risk** |  |  |  |  |  |  |  |  |
| **CDOs and CLOs Risk** |  |  |  |  |  |  |  |  |
| **Collateralized Bond Obligation Risk** |  |  |  |  |  |  |  |  |
| **Commodity Risk** |  |  |  |  |  |  |  |  |
| **Communications Companies Risk** |  |  |  |  |  |  |  |  |
| **Conflict of Interest – Adviser/Sub-Adviser Risk** |  |  |  |  |  |  |  |  |
| **Conflict of Interest – Portfolio Manager Risk** |  |  |  |  |  |  |  |  |
| **Consumer Discretionary Risk** |  |  |  |  |  |  |  | ✔ |
| **Convertible Securities Risk** |  |  | ✔ | ✔ | ✔ | ✔ | ✔ | ✔ |
| **Counterparty Risk** |  |  |  |  |  |  |  |  |
| **Credit Default Swap Risk** |  |  |  |  |  |  |  |  |
| **Credit Risk** |  |  | ✔ |  | ✔ |  | ✔ |  |
| **Credit Risk (for Floating Rate Loans)** |  |  |  |  |  |  |  |  |
| **Currency Risk** |  |  |  |  |  |  |  |  |

---

---

| | |
|:---|:---|
| **EVENTIDE** | **88** |
| **EVENTIDE** | **88** |

---

---

| | |
|:---|:---|
| **P r o s p e c t u s**  | **N o v e m b e r 1, 2 0 2 5** |

---

---

| | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| **Derivatives Risk** |  |  |  |  |  |  |  |  |
| **Development Stage Company Risk** | ✔ | ✔ |  |  |  | ✔ |  |  |
| **Distribution Policy Risk** |  |  | ✔ | ✔ |  |  |  |  |
| **Dividend Yield Risk** |  |  |  |  |  |  |  |  |
| **Duration Risk** |  |  | ✔ |  | ✔ |  | ✔ |  |
| **Emerging Markets Risk** |  |  |  |  |  |  |  |  |
| **Equity Security Risk** | ✔ | ✔ | ✔ | ✔ |  | ✔ |  | ✔ |
| **ETFs Risk** |  |  |  |  |  |  |  |  |
| **Ethical Investment Risk** | ✔ | ✔ | ✔ | ✔ | ✔ | ✔ | ✔ | ✔ |
| **Exchange Traded Notes Risk** |  |  |  |  |  |  |  |  |
| **Extension Risk** |  |  | ✔ |  | ✔ |  | ✔ |  |
| **Fixed Income Risk** |  |  | ✔ |  | ✔ |  | ✔ |  |
| **Foreign Currency Risk** |  |  |  |  |  |  |  |  |
| **Foreign Exchanges Risk** |  |  |  |  |  |  |  |  |
| **Foreign Securities Risk** | ✔ | ✔ | ✔ | ✔ | ✔ | ✔ | ✔ | ✔ |
| **Forwards Risk** |  |  |  |  |  |  |  |  |
| **Futures Contract Risk** |  |  |  |  |  |  |  |  |
| **Geographic Concentration Risk** |  |  |  |  |  |  |  |  |
| **Growth Stock Risk** | ✔ | ✔ |  |  |  | ✔ |  | ✔ |
| **Healthcare & Life Sciences Sector Risk** | ✔ | ✔ |  |  |  |  |  | ✔ |
| **Hedging Risk** |  |  |  |  |  |  |  |  |
| **Income Risk** |  |  | ✔ |  | ✔ |  | ✔ |  |
| **Index Risk** |  |  |  |  |  |  |  |  |
| **Industrial Sector Risk** | ✔ |  |  |  |  |  |  | ✔ |
| **Industry Concentration Risk** |  | ✔ |  |  |  | ✔ |  | ✔ |
| **Inflation-Indexed Bond Risk** |  |  |  |  |  |  |  |  |
| **Inflation Protected Securities Risk** |  |  |  |  |  |  |  |  |
| **Interest Rate Risk** |  |  | ✔ |  | ✔ |  | ✔ |  |
| **Interest Rate Risk (for Floating Rate Loans)** |  |  |  |  |  |  |  |  |

---

---

| | |
|:---|:---|
| **EVENTIDE** | **89** |
| **EVENTIDE** | **89** |

---

---

| | |
|:---|:---|
| **P r o s p e c t u s**  | **N o v e m b e r 1, 2 0 2 5** |

---

---

| | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| **Inverse ETF Risk** |  |  |  |  |  |  |  |  |
| **Investment Style Risk** |  |  |  |  |  | ✔ |  |  |
| **Issuer Specific Risk** |  |  |  |  |  |  |  |  |
| **Junk Bond Risk** | ✔ | ✔ | ✔ | ✔ | ✔ | ✔ | ✔ | ✔ |
| **Large Capitalization Company Risk** | ✔ | ✔ | ✔ | ✔ | ✔ | ✔ | ✔ | ✔ |
| **Leverage Risk** |  |  |  |  |  |  |  |  |
| **Leveraged ETF Risk** |  |  |  |  |  |  |  |  |
| **Limited History of Operations Risk** |  |  |  |  |  |  |  |  |
| **Liquidity Risk** | ✔ | ✔ | ✔ | ✔ | ✔ | ✔ | ✔ | ✔ |
| **Litigation Risk** |  |  |  |  |  |  |  |  |
| **Loan Risk** |  |  |  |  |  |  |  |  |
| **Lower Quality Debt Risk** |  |  |  |  |  |  |  |  |
| **Machinery and Electrical Equipment Industry Risk** |  |  |  |  |  |  |  |  |
| **Management Risk** | ✔ | ✔ | ✔ | ✔ | ✔ | ✔ | ✔ | ✔ |
| **Market Risk** | ✔ | ✔ | ✔ | ✔ | ✔ | ✔ | ✔ | ✔ |
| **Market Volatility-Linked ETFs Risk** |  |  |  |  |  |  |  |  |
| **Medium (Mid) Capitalization Company Risk** | ✔ | ✔ | ✔ | ✔ | ✔ | ✔ | ✔ |  |
| **Micro Capitalization Risk** |  |  |  |  |  |  |  |  |
| **MLP and MLP-Related Securities Risk** |  |  |  |  |  |  |  | ✔ |
| **MLP Tax Risk** |  |  |  |  |  |  |  | ✔ |
| **Municipal Bond Risk** |  |  |  |  | ✔ |  | ✔ |  |
| **Non-Diversification Risk** |  |  |  |  |  | ✔ |  |  |
| **Options Market Risk** | ✔ | ✔ | ✔ | ✔ |  | ✔ |  | ✔ |
| **Options Risk** | ✔ | ✔ | ✔ | ✔ |  | ✔ |  | ✔ |
| **Over-the-Counter ("** **OTC") Trading Risk** |  |  |  |  |  |  |  |  |
| **Preferred Stock Risk** |  |  | ✔ | ✔ | ✔ | ✔ | ✔ | ✔ |
| **Prepayment and Extension Risk for Floating Rate Loans** |  |  |  |  |  |  |  |  |
| **Prepayment Risk** |  |  | ✔ |  | ✔ |  | ✔ |  |
| **Real Estate and REIT Risk** |  |  | ✔ | ✔ |  |  |  | ✔ |
| **Regulatory Risk** |  |  |  |  |  |  |  |  |
| **Repurchase and Reverse Repurchase Agreement Risk** |  |  |  |  |  |  |  |  |
| **Restricted Securities Risk** |  |  |  |  |  |  |  |  |
| **Risk Management Risk** |  |  |  |  |  |  |  |  |
| **Sector Exposure Risk** | ✔ | ✔ |  |  |  | ✔ |  | ✔ |

---

---

| | |
|:---|:---|
| **EVENTIDE** | **90** |
| **EVENTIDE** | **90** |

---

---

| | |
|:---|:---|
| **P r o s p e c t u s**  | **N o v e m b e r 1, 2 0 2 5** |

---

---

| | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| **Security Risk** | ✔ | ✔ | ✔ | ✔ | ✔ | ✔ | ✔ | ✔ |
| **Segregation Risk** |  |  |  |  |  |  |  |  |
| **Semiconductor Industry Risk** |  |  |  |  |  |  |  | ✔ |
| **Short Position Risk** |  |  |  |  |  |  |  |  |
| **Short Selling Risk** |  |  |  |  |  |  |  |  |
| **Small Capitalization Company Risk** | ✔ | ✔ | ✔ | ✔ | ✔ | ✔ | ✔ |  |
| **Software Industry Risk** |  |  |  |  |  |  |  | ✔ |
| **Sovereign Debt Risk** |  |  |  |  | ✔ |  | ✔ |  |
| **Stock Value Risk** | ✔ | ✔ | ✔ | ✔ |  | ✔ |  | ✔ |
| **Structured Note Risk** |  |  |  |  |  |  |  |  |
| **Sub-Prime Mortgage Risk** |  |  |  |  |  |  |  |  |
| **Swaps Risk** |  |  |  |  |  |  |  |  |
| **Technology Sector Risk** | ✔ |  |  |  |  | ✔ |  | ✔ |
| **Tracking Risk of ETFs** |  |  |  |  |  |  |  |  |
| **Turnover Risk** |  |  |  |  |  | ✔ |  | ✔ |
| **Underlying Fund Risk** |  |  |  |  |  |  |  |  |
| **U.S. Government Obligations Risk** |  |  | ✔ |  | ✔ |  | ✔ |  |
| **Volatility Risk** |  |  |  |  |  | ✔ |  |  |
| **Yieldcos Risk** |  |  | ✔ | ✔ |  |  |  | ✔ |

---

**ADRs Risk.** ADRs, which are typically issued by a bank, are certificates that evidence ownership of shares of a foreign company and are alternatives to purchasing foreign securities directly in their national markets and currencies. ADRs are subject to the same risks as direct investment in foreign companies and involve risks that are not found in investments in U.S. companies. In addition to the risks of investing in foreign securities discussed below, there is no guarantee that an ADR issuer will continue to offer a particular ADR. As a result, a Fund may have difficulty selling the ADR, or selling them quickly and efficiently at the prices at which they have been valued. In a sponsored ADR arrangement, the foreign company assumes the obligation to pay some or all of the depositary's transaction fees. Under an unsponsored ADR arrangement, the foreign company assumes no obligations and the depositary's transaction fees are paid directly by the ADR holders. Because unsponsored ADR arrangements are organized independently and without the cooperation of the foreign company, available information concerning the foreign company may not be as current as for sponsored ADRs and voting rights with respect to the deposited securities are not passed through. ADRs may not track the price of the underlying foreign securities on which they are based, and their value may change materially at times when U.S. markets are not open for trading. Certain ADRs are not listed on an exchange and therefore may be considered to be illiquid.

To establish a value for the shares, the issuer establishes a "conversion rate" equal to one share of an ADR for a certain number of shares of the stock of a foreign company. This "conversion rate" establishes a universal monetary relationship between the value of the ADR and the local currency of the foreign company stock. Although an ADR is priced in the U.S. dollar, in order to preserve the uniformity of the established "conversion rate," movements in the exchange rate of the local currency versus the U.S. dollar are automatically reflected in the price of the ADR in U.S. dollars. Therefore, even if the price of the foreign security does not change on its market, if the exchange rate of the local currency relative to the U.S. dollar declines, the ADR price would decline by a similar measure.

---

| | |
|:---|:---|
| **EVENTIDE** | **91** |
| **EVENTIDE** | **91** |

---

---

| | |
|:---|:---|
| **P r o s p e c t u s**  | **N o v e m b e r 1, 2 0 2 5** |

---

**Allocation Risk.** If a Fund's strategy for allocating assets among different assets classes does not work as intended, the Fund may not achieve its objective or may underperform other funds with the same or similar investment strategy.

**Asset-Backed and Mortgage-Backed Security Risk.** Mortgage-backed securities ("MBS") represent participating interests in pools of residential mortgage loans, some of which are guaranteed by the U.S. government, its agencies or instrumentalities. However, the guarantee of these types of securities relates to the principal and interest payments and not the market value of such securities. In addition, the guarantee only relates to the MBS held by a Fund and not the purchase of shares of the Fund.

MBS do not have a fixed maturity and their expected maturities may vary when interest rates rise or fall. When the Fund invests in asset-backed securities, MBS and collateralized mortgage obligations ("CMOs"), a Fund is subject to the risk that, if the issuer fails to pay interest or repay principal, the assets backing these securities may not be sufficient to support payments on the securities. Mortgage-backed securities issued or guaranteed by private issuers are also known as "non-agency MBS." Non-agency MBS generally are a greater credit risk than MBS issued by the U.S. government, and the market for non-agency MBS is smaller and may be less liquid than the market for government MBS.

MBS, commercial mortgage-backed securities ("CMBS") and CMOs are subject to credit risk because underlying loan borrowers may default. Subordinate tranches of CMBS are more sensitive to defaults. Previously non-defaulting borrowers may not be able to refinance their loans when due, resulting in higher default rates. CMBS, in general, may become illiquid. Recently, hospitality, retail, and office properties have become subject to heightened vacancy rates and an accompanying increase in the risk of default. MBS and CMO default rates tend to be sensitive to overall economic conditions and to localized property vacancy rates and prices. Borrower default rates may be significantly higher than estimated. Certain individual securities may be more sensitive to default rates because payments may be subordinated to other securities of the same issuer. The Adviser's and/or Sub-Adviser's assessment, or a rating agency's assessment, of borrower credit quality, default rates and loss rates may prove to be overly optimistic.

Additionally, MBS and CMOs are subject to prepayment risk because the underlying loans held by the issuers may be paid off prior to maturity at faster or lower rates than expected. The value of these securities may go down as a result of changes in prepayment rates on the underlying mortgages or loans. During periods of declining interest rates, prepayment rates usually increases and the Funds may have to reinvest prepayment proceeds at a lower interest rate. CMOs may be less susceptible to this risk because payment priorities within the CMO may have the effect of a prepayment lock out period.

**Bank Loans Risk.** The market for bank loans may not be highly liquid and a Fund may have difficulty selling them. These investments expose a Fund to the credit risk of both the financial institution and the underlying borrower. Bank loans settle on a delayed basis, potentially leading to the sale proceeds of such loans not being available to meet redemptions for a substantial period of time after the sale of the bank loans. Certain bank loans may not be considered "securities," and purchasers, such as a Fund, therefore may not be entitled to rely on the protections of federal securities laws, including anti-fraud provisions.

**Basic Materials Industry Risk.** To the extent that a Fund's investments are exposed to issuers conducting business in basic materials, the Fund is subject to the risk that the securities of such issuers will underperform the market as a whole due to legislative or regulatory changes, adverse market conditions and/or increased competition affecting

---

| | |
|:---|:---|
| **EVENTIDE** | **92** |
| **EVENTIDE** | **92** |

---

---

| | |
|:---|:---|
| **P r o s p e c t u s**  | **N o v e m b e r 1, 2 0 2 5** |

---

that economic sector. The prices of the securities of basic materials companies also may fluctuate widely in response to such events.

**BDC.** BDCs may carry risks similar to those of a private equity or venture capital fund. BDC company securities are not redeemable at the option of the shareholder and they may trade in the market at a discount to their net asset value. A BDC is a form of investment company that is required to invest at least 70% of its total assets in securities (typically debt) of private companies, thinly traded U.S. public companies, or short-term high-quality debt securities. The BDCs held by a Fund may leverage their portfolios through borrowings or the issuance of preferred stock. While leverage often serves to increase the yield of a BDC, this leverage also subjects a BDC to increased risks, including the likelihood of increased volatility and the possibility that a BDC's common share income will fall if the dividend rate of the preferred shares or the interest rate on any borrowings rises. A significant portion of a BDC's investments are recorded at fair value as determined by its board of directors, which may create uncertainty as to the value of the BDC's investments. Non-traded BDCs are illiquid, and it may not be possible to redeem shares or to do so without paying a substantial penalty. Publicly traded BDCs usually trade at a discount to their net asset value because they invest in unlisted securities and have limited access to capital markets. BDCs are subject to high failure rates among the companies in which they invest, and federal securities laws impose restraints upon the organization and operations of BDCs that can limit or negatively impact the performance of a BDC. However, each Fund does not believe it would be liable for the actions of any entity in which it invests and that only its investment is at risk. Also, BDCs may engage in certain principal and joint transactions that a mutual fund or closed-end fund may not without an exemptive order from the SEC.

**Call Options Risk.** As the seller (writer) of a covered call option, a Fund assumes the risk of a decline in the market price of the underlying security below the purchase price of the underlying security less the premium received and gives up the opportunity for gain on the underlying security above the exercise option price. A Fund continues to bear the risk that it will lose money if the value of the security falls below the strike price. Option premiums are treated as short-term capital gains and when distributed to shareholders, are usually taxable as ordinary income, which may have a higher tax rate than long-term capital gains for shareholders holding Fund shares in a taxable account. As the buyer of a call option, a Fund assumes the risk that the market price of the underlying security will not increase above the strike price plus the premiums paid, so the Fund bears the risk that it will lose the premium paid for the option.

**Capacity Risk.** The markets and securities in which a Fund invests may, at times, have limited capacity, and the Adviser may not be able to allocate as much of the Fund's assets to a particular investment or type of investment as it desires. Under such conditions, the execution of the Fund's strategy may be affected, and the Fund may not achieve its investment objective. In addition, the Fund may not be able to purchase or sell securities at favorable market prices.

**Cash or Cash Equivalents Risk.** At any time, a Fund may have significant investments in cash or cash equivalents. When a substantial portion of a portfolio is held in cash or cash equivalents, there is the risk that the value of the cash account, including interest, will not keep pace with inflation, thus reducing purchasing power over time.

**Cash Strategy Risk.** A Fund may, from time to time, invest a substantial portion of its assets in cash or cash equivalents. If the stock market were to appreciate substantially during the time when a Fund is holding a substantial portion of its assets in cash, the Fund may underperform the market.

---

| | |
|:---|:---|
| **EVENTIDE** | **93** |
| **EVENTIDE** | **93** |

---

---

| | |
|:---|:---|
| **P r o s p e c t u s**  | **N o v e m b e r 1, 2 0 2 5** |

---

**CDOs and CLOs Risk.** CDOs and CLOs are securities backed by an underlying portfolio of debt and loan obligations, respectively. CDOs and CLOs issue classes or "tranches" that vary in risk and yield and may experience substantial losses due to actual defaults, decrease of market value due to collateral defaults and removal of subordinate tranches, market anticipation of defaults and investor aversion to CDO and CLO securities as a class. The risks of investing in CDOs and CLOs depend largely on the tranche invested in and the type of the underlying debts and loans in the tranche of the CDO or CLO, respectively, in which a Fund invests. CDOs and CLOs also carry risks including, but not limited to, interest rate risk and credit risk.

**Collateralized Bond Obligation Risk.** The pool of securities underlying collateralized bond obligations is typically separated in groupings called tranches representing different degrees of credit quality. The higher quality tranches have greater degrees of protection and pay lower interest rates. The lower tranches, with greater risk, pay higher interest rates.

**Commodity Risk.** A Fund's exposure to the commodities futures markets may subject the Fund to greater volatility than investments in traditional securities. The value of commodity-linked derivative instruments, commodity-based notes may be affected by changes in overall market movements, commodity index volatility, changes in interest rates, or sectors affecting a particular industry or commodity, such as drought, floods, weather, livestock disease, embargoes, tariffs, and international economic, political and regulatory developments.

**Communications Companies Risk*.*** Communications companies are subject to the risk that they will underperform the market as a whole due to legislative or regulatory changes, adverse market conditions and/or increased competition.

**Conflict of Interest - Adviser/Sub-Adviser Risk.** The Adviser, Sub-Adviser, portfolio managers and other individuals associated with the Adviser and Sub-Adviser may have compensation and/or other arrangements that may be in conflict to the interests of a Fund.

**Conflict of Interest - Portfolio Manager Risk.** Actual or apparent conflicts of interest may arise when a portfolio manager has day-to-day management responsibilities with respect to more than one fund or other accounts. More specifically, portfolio managers who manage multiple funds are presented with the following potential conflicts:

The management of multiple accounts may result in a portfolio manager devoting unequal time and attention to the management of each account. The management of multiple funds and accounts also may give rise to potential conflicts of interest if the funds and accounts have different objectives, benchmarks, time horizons, and fees as the portfolio manager must allocate his time and investment ideas across multiple funds and accounts.

With respect to securities transactions for the Funds, the Adviser or Sub-Adviser determines which broker to use to execute each order, consistent with the duty to seek best execution of the transaction. A Fund's portfolio manager may execute transactions for another fund or account that may adversely impact the value of securities held by the Funds. Securities selected for funds or accounts other than the Funds may outperform the securities selected for the Funds.

The appearance of a conflict of interest may arise where the Adviser or Sub-Adviser has an incentive, such as a performance-based advisory fee. The management of personal accounts may give rise to potential conflicts of interest; there is no assurance that the Funds' code of ethics will adequately address such conflicts. One of a portfolio manager's numerous responsibilities is to assist in the sale of Fund shares. Because a portfolio manager's

---

| | |
|:---|:---|
| **EVENTIDE** | **94** |
| **EVENTIDE** | **94** |

---

---

| | |
|:---|:---|
| **P r o s p e c t u s**  | **N o v e m b e r 1, 2 0 2 5** |

---

compensation is linked to the sale of Fund shares, they may have an incentive to devote time to marketing efforts designed to increase sales of Fund shares.

Each of the Adviser and Sub-Adviser has adopted a code of ethics that, among other things, permits personal trading by employees under conditions where it has been determined that such trades would not adversely impact client accounts. Nevertheless, the management of personal accounts may give rise to potential conflicts of interest, and there is no assurance that these codes of ethics will adequately address such conflicts.

Please refer to the section of the Funds' SAI entitled "Adviser and Sub-Adviser-Potential Conflicts of Interest" for additional information regarding potential conflicts of interest.

**Consumer Discretionary Risk.** The success of consumer product manufacturers and retailers is tied closely to the performance of domestic and international economies, interest rates, trade policies, exchange rates, competition, consumer confidence, changes in demographics and consumer preferences. Companies in the consumer discretionary sector depend heavily on disposable household income and consumer spending and may be strongly affected by social trends and marketing campaigns. These companies may be subject to severe competition, which may have an adverse impact on their profitability.

**Convertible Securities Risk.** Convertible bonds are hybrid securities that have characteristics of both bonds and common stocks and are subject to fixed income security risks and conversion value-related equity risk. Convertible bonds are similar to other fixed-income securities because they usually pay a fixed interest rate and are obligated to repay principal on a given date in the future. The market value of fixed-income securities tends to decline as interest rates increase. Convertible bonds are particularly sensitive to changes in interest rates when their conversion to equity feature is small relative to the interest and principal value of the bond. If a convertible security's investment value is greater than its conversion value, its price will likely increase when interest rates fall and decrease when interest rates rise. If the conversion value exceeds the investment value, the price of the convertible security will tend to fluctuate directly with the price of the underlying equity security. Convertible issuers may not be able to make principal and interest payments on the bond as they become due. Convertible bonds may also be subject to prepayment or redemption risk. If a convertible security is called for redemption, the Funds will be required to surrender the security for redemption, and convert it into the issuing company's common stock or cash at a time that may be unfavorable to the Funds. Convertible securities have characteristics similar to common stocks especially when their conversion value is greater than the interest and principal value of the bond. The price of equity securities may rise or fall because of economic or political changes. Stock prices in general may decline over short or even extended periods of time. Market prices of equity securities in broad market segments may be adversely affected by a prominent issuer having experienced losses or by the lack of earnings or such an issuer's failure to meet the market's expectations with respect to new products or services, or even by factors wholly unrelated to the value or condition of the issuer, such as changes in interest rates. When a convertible bond's value is more closely tied to its conversion to stock feature, it is sensitive to the underlying stock's price.

**Counterparty Risk.** A Fund may engage in transactions in securities and financial instruments that involve counterparties. Counterparty risk is the risk that a counterparty (the other party to a transaction or an agreement or the party with whom a Fund executes transactions) to a transaction with a Fund may be unable or unwilling to make timely principal, interest or settlement payments, or otherwise honor its obligations.

---

| | |
|:---|:---|
| **EVENTIDE** | **95** |
| **EVENTIDE** | **95** |

---

---

| | |
|:---|:---|
| **P r o s p e c t u s**  | **N o v e m b e r 1, 2 0 2 5** |

---

**Credit Default Swap Risk.** Credit default swaps ("CDS") are typically two-party financial contracts that transfer credit exposure between the two parties. Under a typical CDS, one party (the "seller") receives pre-determined periodic payments from the other party (the "buyer"). The seller agrees to make compensating specific payments to the buyer if a negative credit event occurs, such as the bankruptcy or default by the issuer of the underlying debt instrument. The use of CDS involves investment techniques and risks different from those associated with ordinary portfolio security transactions, such as potentially heightened counterparty, concentration and exposure risks.

**Credit Risk.** Credit risk is the risk that an issuer of a security will fail to pay principal and interest in a timely manner, reducing a Fund's total return. A Fund may invest in high-yield, unrated or otherwise high-risk securities commonly called "junk bonds," that are not investment grade and are generally considered speculative because they present a greater risk of loss, including default, than higher quality debt securities. Credit risk may be substantial for a Fund.

**Credit Risk (for Floating Rate Loans).** Credit risk is the risk that the issuer of a security and other instrument will not be able to make principal and interest payments when due. The value of a Fund's shares, and the Fund's ability to pay dividends, is dependent upon the performance of the assets in its portfolio. Prices of a Fund's investments can fall if the actual or perceived financial health of the borrowers on, or issuers of, such investments deteriorates, whether because of broad economic or issuer-specific reasons. In severe cases, the borrower or issuer could be late in paying interest or principal or could fail to pay altogether.

In the event a borrower fails to pay scheduled interest or principal payments on an investment held by a Fund, the Fund will experience a reduction in its income and a decline in the market value of such investment. This will likely reduce the dividends paid by a Fund and likely lead to a decline in the net asset value of the Fund's shares.

A Fund may invest in floating rate loans that are senior in the capital structure of the borrower or issuer, and that are secured with specific collateral. Loans that are senior and secured generally involve less risk than unsecured or subordinated debt and equity instruments of the same borrower because the payment of principal and interest on senior loans is an obligation of the borrower that, in most instances, takes precedence over the payment of dividends or the return of capital to the borrower's shareholders, and payments to bond holders; and because of the collateral supporting the repayment of the debt instrument. However, the value of the collateral may not equal a Fund's investment when the debt instrument is acquired or may decline below the principal amount of the debt instrument subsequent to the Fund's investment. Also, to the extent that collateral consists of stocks of the borrower, or its subsidiaries or affiliates, a Fund bears the risk that the stocks may decline in value, be relatively illiquid, or may lose all or substantially all of their value, causing the Fund's investment to be undercollateralized. Therefore, the liquidation of the collateral underlying a floating rate loan in which a Fund has invested, may not satisfy the borrower's obligation to the Fund in the event of non-payment of scheduled interest or principal, and the collateral may not be able to be readily liquidated.

In the event of the bankruptcy of a borrower or issuer, a Fund could experience delays and limitations on its ability to realize the benefits of the collateral securing the Fund's investment. Among the risks involved in a bankruptcy are assertions that the pledge of collateral to secure a loan constitutes a fraudulent conveyance or preferential transfer that would have the effect of nullifying or subordinating a Fund's rights to the collateral.

The floating rate debt in which a Fund invests may be generally rated lower than investment-grade credit quality, i.e., rated lower than "Baa3" by Moody's Investors Service, Inc. ("Moody's") or "BBB-" by S&P Global Ratings ("S&P"), or have been made to borrowers who have issued debt securities that are rated lower than investment-grade in quality

---

| | |
|:---|:---|
| **EVENTIDE** | **96** |
| **EVENTIDE** | **96** |

---

---

| | |
|:---|:---|
| **P r o s p e c t u s**  | **N o v e m b e r 1, 2 0 2 5** |

---

or, if unrated, would be rated lower than investment-grade credit quality. Investment decisions for a Fund will be based largely on the credit analysis performed by the Adviser or Sub-Adviser, and not entirely on rating agency evaluation. This analysis may be difficult to perform. Information about a loan and its borrower generally is not in the public domain. Many borrowers have not issued securities to the public and are not subject to reporting requirements under federal securities laws. Generally, however, borrowers are required to provide financial information to lenders and information may be available from other loan market participants or agents that originate or administer loans.

**Currency Risk.** Currency trading involves significant risks, including market risk, interest rate risk, country risk, counterparty credit risk and short sale risk. Market risk results from the price movement of foreign currency values in response to shifting market supply and demand. Since exchange rate changes can readily move in one direction, a currency position carried overnight or over a number of days may involve greater risk than one carried a few minutes or hours. Interest rate risk arises whenever a country changes its stated interest rate target associated with its currency. Country risk arises because virtually every country has interfered with international transactions in its currency. Interference has taken the form of regulation of the local exchange market, restrictions on foreign investment by residents or limits on inflows of investment funds from abroad. Restrictions on the exchange market or on international transactions are intended to affect the level or movement of the exchange rate. This risk could include the country issuing a new currency, effectively making the "old" currency worthless. A Fund may also take short positions, through derivatives, if the Adviser believes the value of a currency is likely to depreciate in value. A "short" position is, in effect, similar to a sale in which a Fund sells a currency it does not own but, has borrowed in anticipation that the market price of the currency will decline. A Fund must replace a short currency position by purchasing it at the market price at the time of replacement, which may be more or less than the price at which the Fund took a short position in the currency.

**Derivatives Risk.** A Fund may use derivatives to enhance returns or hedge against market declines. A Fund's use of derivative instruments involves risks different from, or possibly greater than, the risks associated with investing directly in securities and other traditional investments. These risks include (i) the risk that the counterparty to a derivative transaction may not fulfill its contractual obligations; (ii) the risk of mispricing or improper valuation; and (iii) the risk that changes in the value of the derivative may not correlate perfectly with the underlying asset, rate or index. Derivative prices are highly volatile and may fluctuate substantially during a short period of time. Such prices are influenced by numerous factors that affect the markets, including, but not limited to: changing supply and demand relationships; government programs and policies; national and international political and economic events, changes in interest rates, inflation and deflation and changes in supply and demand relationships. Trading derivative instruments involves risks different from, or possibly greater than, the risks associated with investing directly in securities including:

***Leverage and Volatility Risk.*** Derivative contracts ordinarily have leverage inherent in their terms. The low margin deposits normally required in trading derivatives, including futures contracts, permit a high degree of leverage. In addition, it is anticipated that the Underlying Pools will be "notionally funded" - that is, their nominal trading level will exceed the cash deposited in the trading accounts. Accordingly, a relatively small price movement may result in an immediate and substantial loss to a Fund. The use of leverage may also cause a Fund to liquidate portfolio positions when it would not be advantageous to do so in order to satisfy its obligations. The use of leveraged derivatives can magnify a Fund's potential for gain or loss and, therefore, amplify the effects of market volatility on the Fund's share price.

---

| | |
|:---|:---|
| **EVENTIDE** | **97** |
| **EVENTIDE** | **97** |

---

---

| | |
|:---|:---|
| **P r o s p e c t u s**  | **N o v e m b e r 1, 2 0 2 5** |

---

***Liquidity Risk.*** Although it is anticipated that the derivatives traded by a Fund will be actively traded, it is possible that particular investments might be difficult to purchase or sell, possibly preventing the Fund from executing positions at an advantageous time or price, or possibly requiring them to dispose of other investments at unfavorable times or prices in order to satisfy their obligations. Most U.S. commodity futures exchanges impose daily limits regulating the maximum amount above or below the previous day's settlement price which a futures contract price may fluctuate during a single day. During a single trading day, no trades may be executed at prices beyond the daily limit. Once the price of a particular futures contract has increased or decreased to the limit point, it may be difficult, costly or impossible to liquidate a position. It is also possible that an exchange or the Commodity Futures Trading Commission ("CFTC"), which regulates commodity futures exchanges, may suspend trading in a particular contract, order immediate settlement of a contract or order that trading to the liquidation of open positions only.

**Development Stage Company Risk.** A Fund may invest a substantial portion of the portfolio in development stage companies that are not generating meaningful revenue. The prospects of development stage companies in the healthcare and life sciences sectors may depend entirely on the outcomes of research and development, clinical trials and uncertain regulatory outcomes for a small number of products. If these fail, these companies may decline in value substantially.

**Distribution Policy Risk.** A Fund's distribution policy is not designed to generate, and is not expected to result in, distributions that equal a fixed percentage of the Fund's current net asset value per share. Shareholders receiving periodic payments from the Fund may be under the impression that they are receiving net profits. However, all or a portion of a distribution may consist of a return of capital. Return of capital is the portion of distribution that is a return of your original investment dollars in a Fund. Shareholders should not assume that the source of a distribution from a Fund is net profit. Shareholders should note that a return of capital will reduce the tax basis of their shares and potentially increase the taxable gain, if any, upon disposition of their shares. Each applicable Fund will provide disclosures with each distribution that estimate the percentages of the current and year-to-date distributions that represent (1) net investment income, (2) capital gains and (3) return of capital. At the end of the year, the Fund may be required under applicable law to re-characterize distributions made previously during that year among (1) ordinary income, (2) capital gains and (3) return of capital for tax purposes.

**Dividend Yield Risk.** While a Fund may hold securities of companies that have historically paid a dividend, those companies may reduce or discontinue their dividends, thus reducing the yield of the Fund. Lower priced securities in the Fund may be more susceptible to these risks. Past dividend payments are not a guarantee of future dividend payments. Also, the market return of high dividend yield securities, in certain market conditions, may be worse than the market return of other investment strategies or the overall stock market.

**Duration Risk.** Longer-term securities may be more sensitive to interest rate changes. Rising interest rates pose a heightened risk to a Fund whose portfolio includes longer-term fixed income securities. Effective duration estimates price changes for relatively small changes in rates. If rates rise significantly, effective duration may tend to understate the drop in a security's price. If rates drop significantly, effective duration may tend to overstate the rise in a security's price.

**Emerging Markets Risk.** A Fund may invest in countries with newly organized or less developed securities markets. There are typically greater risks involved in investing in emerging markets securities. Generally, economic structures in these countries are less diverse and mature than those in developed countries and their political systems tend to be less stable. There may also be less reliable or publicly available information about emerging markets due to non-

---

| | |
|:---|:---|
| **EVENTIDE** | **98** |
| **EVENTIDE** | **98** |

---

---

| | |
|:---|:---|
| **P r o s p e c t u s**  | **N o v e m b e r 1, 2 0 2 5** |

---

uniform regulatory, auditing or financial recordkeeping standards (including material limits on PCAOB inspection, investigation and enforcement), which could cause errors in the implementation of a Fund's investment strategy. Emerging market economies may be based on only a few industries, therefore security issuers, including governments, may be more susceptible to economic weakness and more likely to default. Emerging market countries also may have relatively unstable governments, weaker economies, and less-developed legal systems with fewer security holder rights. A Fund's performance may depend on issues other than those that affect U.S. companies and may be adversely affected by different rights and remedies associated with emerging market investments, or the lack thereof, compared to those associated with U.S. companies. Investments in emerging markets countries may be affected by government policies that restrict foreign investment in certain issuers or industries. The potentially smaller size of their securities markets and lower trading volumes can make investments relatively illiquid and potentially more volatile than investments in developed countries, and such securities may be subject to abrupt and severe price declines. Due to this relative lack of liquidity, a Fund may have to accept a lower price or may not be able to sell a portfolio security at all. An inability to sell a portfolio position can adversely affect a Fund's value or prevent the Fund from being able to meet cash obligations or take advantage of other investment opportunities. Investing in emerging markets involves not only the risks described below with respect to investing in foreign securities, but also other risks, including exposure to economic structures that are generally less diverse and mature, and to political systems that can be expected to have less stability, than those of developed countries. For example, emerging markets may experience significant declines in value due to political and currency volatility. Other characteristics of emerging markets that may affect investment include certain national policies that may restrict investment by foreigners in issuers or industries deemed sensitive to relevant national interests and the absence of developed structures governing private and foreign investments and private property. The typically small size of the markets of securities of issuers located in emerging markets and the possibility of a low or nonexistent volume of trading in those securities may also result in a lack of liquidity and in price volatility of those securities.

**Equity Security Risk.** Common and preferred stocks are susceptible to general stock market fluctuations and to volatile increases and decreases in value as market confidence in and perceptions of their issuers change. Warrants and rights may expire worthless if the price of a common stock is below the conversion price of the warrant or right. Convertible bonds may decline in value if the price of a common stock falls below the conversion price. Investor perceptions are based on various and unpredictable factors, including expectations regarding government, economic, trade, monetary and fiscal policies; inflation and interest rates; economic expansion or contraction and global or regional political, economic and banking crises.

**ETFs Risk.** Like an open-end investment company (mutual fund), the value of an ETF can fluctuate based on the prices of the securities owned by the ETF, and ETFs are also subject to the following additional risks: (i) the ETF's market price may be less than its net asset value; (ii) an active market for the ETF may not develop; and (iii) market trading in the ETF may be halted under certain circumstances.

**Ethical Investment Risk.** Each Fund's ethical values screening criteria could cause it to underperform similar funds that do not have such screening criteria. This could be due to ethically acceptable companies falling out of favor with investors or failing to perform as well as companies that do not meet the Funds' ethical screening guidelines. The Funds' ethical screening criteria limits the potential universe of investments and could cause each Fund to avoid investments that subsequently perform well.

To supplement its efforts in ethical investing, the Adviser may engage with portfolio companies to encourage consideration of corporate strategies aligned with the Adviser's values, including pricing and/or business practices

---

| | |
|:---|:---|
| **EVENTIDE** | **99** |
| **EVENTIDE** | **99** |

---

---

| | |
|:---|:---|
| **P r o s p e c t u s**  | **N o v e m b e r 1, 2 0 2 5** |

---

that may be beneficial within particular industries. The Adviser believes these activities will help promote ethical and effective corporate governance and long-term strategy for companies, and potentially create a positive effect on the particular businesses and/or industries, their consumers, and the Fund. There is no guarantee that the Adviser's corporate engagements and related-activities will achieve their intended results. There is a risk that the Adviser's activities in this regard could limit the Fund's investment universe and reduce the amount of profits that could be realized by affected companies, limiting the Fund's investment returns. Furthermore, the U.S. government or any agency thereof, may enact rules or legislation that, directly or indirectly, materially impacts the Adviser's activities in this regard, or materially affects the value of companies or opportunities for investment within particular industries.

**Exchange Traded Notes Risk.** Similar to ETFs, owning an ETN generally reflects the risks of owning the assets that comprise the underlying market benchmark or strategy that the ETN is designed to reflect. ETNs also are subject to issuer and fixed-income risk.

**Extension Risk.** If interest rates rise, repayments of principal on certain debt securities, including, but not limited to, floating rate loans and mortgage-related securities, may occur at a slower rate than expected and the expected maturity of those securities could lengthen as a result. Securities that are subject to extension risk generally have a greater potential for loss when prevailing interest rates rise, which could cause their values to fall sharply.

**Fixed Income Risk.** When a Fund invests in fixed income securities, the value of your investment in the Fund will fluctuate with changes in interest rates. Typically, a rise in interest rates causes a decline in the value of fixed income securities owned by a Fund. In general, the market price of fixed income securities with longer maturities will increase or decrease more in response to changes in interest rates than shorter-term securities. Federal Reserve policy changes may expose fixed-income and related markets to heightened volatility and may reduce liquidity for certain Fund investments, which could cause the value of the Fund's investments and share price to decline. Other risk factors include credit risk (the debtor may default), extension risk (an issuer may exercise its right to repay principal on a fixed rate obligation held by a Fund later than expected), and prepayment risk (the debtor may pay its obligation early, reducing the amount of interest payments). These risks could affect the value of a particular investment by a Fund, possibly causing the Fund's share price and total return to be reduced and fluctuate more than other types of investments.

**Foreign Currency Risk.** Currency trading involves significant risks, including market risk, interest rate risk, country risk, counterparty credit risk and short sale risk. Market risk results from the price movement of foreign currency values in response to shifting market supply and demand. Since exchange rate changes can readily move in one direction, a currency position carried overnight or over a number of days may involve greater risk than one carried a few minutes or hours. Interest rate risk arises whenever a country changes its stated interest rate target associated with its currency. Country risk arises because virtually every country has interfered with international transactions in its currency. Interference has taken the form of regulation of the local exchange market, restrictions on foreign investment by residents or limits on inflows of investment funds from abroad. Restrictions on the exchange market or on international transactions are intended to affect the level or movement of the exchange rate. This risk could include the country issuing a new currency, effectively making the "old" currency worthless.

**Foreign Exchanges Risk.** A portion of the derivatives trades made by a Fund may take place on foreign markets. Neither existing CFTC regulations nor regulations of any other U.S. governmental agency apply to transactions on foreign markets. Some of these foreign markets, in contrast to U.S. exchanges, are so-called principals' markets in which performance is the responsibility only of the individual counterparty with whom the trader has entered into a

---

| | |
|:---|:---|
| **EVENTIDE** | **100** |
| **EVENTIDE** | **100** |

---

---

| | |
|:---|:---|
| **P r o s p e c t u s**  | **N o v e m b e r 1, 2 0 2 5** |

---

commodity interest transaction and not of the exchange or clearing corporation. In these kinds of markets, there is risk of bankruptcy or other failure or refusal to perform by the counterparty.

**Foreign Securities Risk.** Since a Fund's investments may include ADRs and foreign securities, the Fund is subject to risks beyond those associated with investing in domestic securities. The value of foreign securities is subject to currency fluctuations, adverse political, social and economic developments, less liquidity, greater volatility, less developed or less efficient trading markets, and political instability. Foreign companies are generally not subject to the same regulatory requirements as U.S. companies thereby resulting in less publicly available information about these companies. In addition, foreign accounting, auditing and financial reporting standards generally differ from those applicable to U.S. companies. Depository receipts maintain substantially the same risks as those associated with investments in foreign securities and may be under no obligation to distribute shareholder communications or pass through any voting rights with respect to the deposited securities. The departure of the United Kingdom and the potential departure of additional countries from the European Union may have significant political and financial consequences on global markets. Uncertainty relating to the withdrawal procedures and timeline may have adverse effects on valuations and the renegotiation of current trade agreements, as well as an increase in financial regulation in such markets.

Investing in securities of Chinese issuers involves certain risks and considerations not typically associated with investing in securities of U.S. issuers, including, among others, more frequent trading suspensions and government interventions (including by nationalization of assets), currency exchange rate fluctuations or blockages, limits on the use of brokers and on foreign ownership, different financial reporting standards, higher dependence on exports and international trade, potential for increased trade tariffs, sanctions, embargoes and other trade limitations, and custody risks. U.S. sanctions or other investment restrictions could preclude a Fund from investing in certain Chinese issuers or cause the Fund to sell investments at a disadvantageous time. Significant portions of the Chinese securities markets may become rapidly illiquid, as Chinese issuers have the ability to suspend the trading of their equity securities and have shown a willingness to exercise that option in response to market volatility and other events.

**Forwards Risk.** Derivative prices are highly volatile and may fluctuate substantially during a short period of time. Such prices are influenced by numerous factors that affect the markets, including, but not limited to: changing supply and demand relationships; government programs and policies; national and international political and economic events, changes in interest rates, inflation and deflation and changes in supply and demand relationships. Derivative contracts ordinarily have leverage inherent in their terms and low margin deposits normally required in trading derivatives permit a high degree of leverage. Accordingly, a relatively small price movement may result in an immediate and substantial loss to a Fund. The use of leverage may also cause a Fund to liquidate portfolio positions when it would not be advantageous to do so in order to satisfy its obligations. The use of leveraged derivatives can magnify a Fund's potential for gain or loss and, therefore, amplify the effects of market volatility on the Fund's share price.

***Foreign Forwards Risk.*** Foreign currency forward contracts are a type of derivative contract whereby the Fund may agree to buy or sell a country's or region's currency at a specific price on a specific date, usually 30, 60, or 90 days in the future. These contracts are subject to the risk of political and economic factors applicable to the countries issuing the underlying currencies and may fall in value due to foreign market downswings or foreign currency value fluctuations. Forward foreign currency contracts are individually negotiated and privately traded so they are dependent upon the creditworthiness of the counterparty and subject to counterparty risk. A Fund's investment or hedging strategies may not achieve their objective.

---

| | |
|:---|:---|
| **EVENTIDE** | **101** |
| **EVENTIDE** | **101** |

---

---

| | |
|:---|:---|
| **P r o s p e c t u s**  | **N o v e m b e r 1, 2 0 2 5** |

---

**Futures Contract Risk.** A Fund's use of futures contracts involves risks different from, or possibly greater than, the risks associated with investing directly in securities and other traditional investments. These risks include (i) leverage risk; (ii) the risk of mispricing or improper valuation; and (iii) the risk that changes in the value of the futures contract may not correlate perfectly with the underlying index. Investments in futures contracts involve leverage, which means a small percentage of assets invested in futures contracts can have a disproportionately large impact on a Fund. This risk could cause a Fund to lose more than the principal amount invested. Futures contracts may become mispriced or improperly valued when compared to the Adviser's expectation and may not produce the desired investment results. Additionally, changes in the value of futures contracts may not track or correlate perfectly with the underlying index because of temporary, or even long-term, supply and demand imbalances and because futures do not pay dividends unlike the stocks upon which they are based.

**Geographic Concentration Risk.** A Fund may be particularly susceptible to economic, political, regulatory or other events or conditions affecting countries within the specific geographic regions in which the Fund invests. Currency devaluations could occur in countries that have not yet experienced currency devaluation to date or could continue to occur in countries that have already experienced such devaluations. As a result, a Fund's net asset value may be more volatile than a more geographically diversified fund.

**Growth Stock Risk.** "Growth" stocks can react differently to issuer, political, market, and economic developments than the market as a whole and other types of stocks. "Growth" stocks also tend to be more expensive relative to their earnings or assets compared to other types of stocks. As a result, "growth" stocks tend to be sensitive to changes in their earnings and more volatile in price than the stock market as a whole. In addition, companies that the Adviser or Sub-Adviser believes have significant growth potential are often companies with new, limited or cyclical product lines, markets or financial resources and the management of such companies may be dependent upon one or a few key people. The stocks of such companies can therefore be subject to more abrupt or erratic market movements than stocks of larger, more established companies or the stock market in general.

**Healthcare & Life Sciences Sector Risk.** Companies in the healthcare and life sciences sectors, including drug related companies, may be heavily dependent on clinical trials with uncertain outcomes and decisions made by governments and regulatory authorities. Further, these companies are dependent on patent protection, and the expiration of patents may adversely affect the profitability of the companies. Healthcare and life sciences companies are also subject to litigation based on infringement claims. Additionally, the profitability of some healthcare and life sciences companies may be dependent on a relatively limited number of products, and their products can become obsolete due to sector innovation, changes in technologies or other market developments. In addition, companies in the healthcare and life sciences sectors group may not be financially profitable and thus subject to additional risks.

**Hedging Risk.** Hedging is a strategy in which a Fund uses a derivative to offset the risks associated with other Fund holdings. There can be no assurance that a Fund's hedging strategy will reduce risk or that hedging transactions will be either available or cost effective. A Fund is not required to use hedging and may choose not to do so.

**Income Risk.** Income risk is the risk that the income from a Fund's portfolio will decline because of falling market interest rates. This can result when a Fund invests the proceeds from new share sales, or from matured or called bonds, at market interest rates that are below the portfolio's current earnings rate.

**Index Risk.** If the derivative is linked to the performance of an index, it will be subject to the risks associated with changes in that index.

---

| | |
|:---|:---|
| **EVENTIDE** | **102** |
| **EVENTIDE** | **102** |

---

---

| | |
|:---|:---|
| **P r o s p e c t u s**  | **N o v e m b e r 1, 2 0 2 5** |

---

**Industrial Sector Risk.** Industrial companies are affected by supply and demand both for their specific product or service and for industrial sector products in general. Government regulation, world events, exchange rates and economic conditions, technological developments and liabilities for environmental damage and general civil liabilities will likewise affect the performance of these companies.

**Industry Concentration Risk.** A Fund may be susceptible to an increased risk of loss, including losses due to adverse occurrences affecting the Fund more than the market as a whole, because the Fund's investments are concentrated in the specific industries.

**Inflation-Indexed Bond Risk.** Inflation-indexed bonds are fixed income securities whose principal values are periodically adjusted according to a measure of inflation. If the index measuring inflation falls, the principal value of inflation-indexed bonds will be adjusted downward, and consequently the interest payable on these securities (calculated with respect to a smaller principal amount) will be reduced. Repayment of the original bond principal upon maturity (as adjusted for inflation) is guaranteed in the case of U.S. Treasury inflation indexed bonds. For bonds that do not provide a similar guarantee, the adjusted principal value of the bond repaid at maturity may be less than the original principal. With regard to municipal inflation-indexed bonds and certain corporate inflation-indexed bonds, the inflation adjustment is reflected in the semi-annual coupon payment. As a result, the principal value of municipal inflation-indexed bonds and such corporate inflation indexed bonds does not adjust according to the rate of inflation. The value of inflation-indexed bonds is expected to change in response to changes in real interest rates. Real interest rates are tied to the relationship between nominal interest rates and the rate of inflation. If nominal interest rates increase at a faster rate than inflation, real interest rates may rise, leading to a decrease in value of inflation-indexed bonds. Inflation-indexed bonds may cause a potential cash flow mismatch to investors, because an increase in the principal amount of an inflation-indexed bond will be treated as interest income currently subject to tax at ordinary income rates even though investors will not receive repayment of principal until maturity. If a Fund invests in such bonds, it will be required to distribute such interest income in order to qualify for treatment as a regulated investment company and eliminate the Fund-level tax, without a corresponding receipt of cash, and therefore may be required to dispose of portfolio securities at a time when it may not be desirable.

**Inflation Protected Securities Risk.** Inflation-protected debt securities tend to react to changes in real interest rates. Real interest rates represent nominal (stated) interest rates reduced by the expected impact of inflation. In general, the price of an inflation-protected debt security can fall when real interest rates rise and can rise when real interest rates fall. Interest payments on inflation-protected debt securities can be unpredictable and will vary as the principal and/or interest is adjusted for inflation.

**Interest Rate Risk.** Changes in short-term market interest rates will directly affect the yield on the shares of a Fund whose investments are normally invested in floating rate debt. If short-term market interest rates fall, the yield on the Fund's shares will also fall. Conversely, when short-term market interest rates rise, because of the lag between changes in such short-term rates and the resetting of the floating rates on the floating rate debt

---

| | |
|:---|:---|
| **EVENTIDE** | **103** |
| **EVENTIDE** | **103** |

---

---

| | |
|:---|:---|
| **P r o s p e c t u s**  | **N o v e m b e r 1, 2 0 2 5** |

---

in the Fund's portfolio, the impact of rising rates will be delayed to the extent of such lag. Rising interest rates pose a heightened risk to any longer-term fixed income securities held by the Fund.

**Interest Rate Risk (for Floating Rate Loans).** Changes in short-term market interest rates will directly affect the yield on the shares of a Fund whose investments are normally invested in floating rate debt. If short-term market interest rates fall, the yield on a Fund's shares will also fall. Conversely, when short-term market interest rates rise, because of the lag between changes in such short-term rates and the resetting of the floating rates on the floating rate debt in a Fund's portfolio, the impact of rising rates will be delayed to the extent of such lag. In addition, to the extent that the interest rate spreads on floating rate debt in a Fund's portfolio experience a general decline, the yield on the Fund's shares will fall and the value of the Fund's assets may decrease, which will cause the Fund's net asset value to decrease. With respect to a Fund's investments in fixed rate instruments, a rise in interest rates generally causes values to fall. The values of fixed rate securities with longer maturities or duration are more sensitive to changes in interest rates.

**Inverse ETF Risk.** Investing in inverse ETFs may result in increased volatility due to a Fund's possible use of short sales of securities and derivatives such as options and futures. The use of leverage by an ETF increases risk to a Fund. The more a Fund invests in leveraged instruments, the more the leverage will magnify any gains or losses on those investments. During periods of increased volatility, inverse ETFs may not perform in the manner they are designed.

**Investment Style Risk.** Different types of investment styles, for example growth or value, tend to perform differently and shift into and out of favor with investors depending on changes in market and economic sentiment and conditions. As a result, a Fund's performance may at times be worse than the performance of other mutual funds that invest more broadly or that have different investment styles.

**Issuer Specific Risk.** The value of a specific security can be more volatile than, and can perform differently from, the market as a whole. The value of securities of smaller issuers can be more volatile than those of larger issuers. The value of certain types of securities can be more volatile due to increased sensitivity to adverse issuer, political, regulatory, market, or economic developments. The value of each underlying pool will be dependent on the success of the strategies used by its manager or managers. Certain managers may be dependent upon a single individual or small group of individuals, the loss of which could adversely affect its success.

**Junk Bond Risk.** Lower-quality or unrated bonds, known as "high yield" or "junk" bonds, present a significant risk for loss of principal and interest. These bonds offer the potential for higher return, but also involve greater risk than bonds of higher quality, including an increased possibility that the bond's issuer, obligor or guarantor may not be able to make its payments of interest and principal (credit quality risk). If that happens, the value of the bond may decrease, and a Fund's share price may decrease, and its income distribution may be reduced. An economic downturn or period of rising interest rates (interest rate risk) could adversely affect the market for these bonds and reduce a Fund's ability to sell its bonds (liquidity risk). Such securities may also include "Rule 144A" securities, which are subject to resale restrictions. The lack of a liquid market for these bonds could result in a decrease in a Fund's share price.

**Large Capitalization Company Risk.** Large capitalization companies may be less able than smaller capitalization companies to adapt to changing market conditions. Large capitalization companies may be more mature and subject to more limited growth potential compared with smaller capitalization companies. During different market cycles, the performance of large capitalization companies has trailed the overall performance of the broader securities markets.

**Leverage Risk.** Using derivatives can create leverage, which can amplify the effects of market volatility on a Fund's share price and make the Fund's returns more volatile. The use of leverage may cause a Fund to liquidate portfolio positions when it would not be advantageous to do so in order to satisfy its obligations. The use of leverage may also cause the Fund to have higher expenses than those of mutual funds that do not use such techniques.

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| | |
|:---|:---|
| **EVENTIDE** | **104** |
| **EVENTIDE** | **104** |

---

---

| | |
|:---|:---|
| **P r o s p e c t u s**  | **N o v e m b e r 1, 2 0 2 5** |

---

**Leveraged ETF Risk.** Leveraged ETFs will amplify losses because they are designed to produce returns that are a multiple of the index to which they are linked. Most leveraged ETFs "reset" daily. Due to the effect of compounding, their performance over longer periods of time can differ significantly from the performance of their underlying index or benchmark during the same period of time.

**Limited History of Operations Risk.** A Fund may have a limited history of operations for investors to evaluate.

**Liquidity Risk.** Liquidity risk exists when particular investments are difficult to sell. Although most of the Funds' securities must be liquid at the time of investment, a Fund may purchase illiquid investments and securities may become illiquid after purchase by the Fund, particularly during periods of market turmoil. When a Fund holds illiquid investments, the Fund's investments may be harder to value, especially in changing markets, and if a Fund is forced to sell these investments to meet redemptions or for other cash needs, the Fund may suffer an unexpected loss. In addition, when there is illiquidity in the market for certain securities, a Fund, due to limitations on investments in illiquid investments, may be unable to achieve its desired level of exposure to a certain sector.

**Litigation Risk.** A Fund may be named in a lawsuit despite no wrongdoing by the Fund, its Adviser or Sub-Adviser or any other service provider to the Fund. The defense of a lawsuit may detrimentally impact the Fund and its shareholders, including incurring legal defense costs, regulatory costs, and increased insurance premiums.

**Loan Risk.** Investments in bank loans may subject the Funds to heightened credit risks because such loans tend to be highly leveraged and potentially more susceptible to the risks of interest deferral, default and/or bankruptcy. Senior floating rate loans are often rated below investment grade but may also be unrated. The risks associated with these loans can be similar to the risks of below-investment grade fixed income instruments. An economic downturn would generally lead to a higher non-payment rate, and a senior floating rate loan may lose significant market value before a default occurs. Moreover, any specific collateral used to secure a senior floating rate loan may decline in value or become illiquid, which would adversely affect the loan's value. Unlike the securities markets, there is no central clearinghouse for loan trades, and the loan market has not established enforceable settlement standards or remedies for failure to settle. Therefore, portfolio transactions in loans may have uncertain settlement time periods. Senior floating rate loans are subject to a number of risks described elsewhere in this Prospectus, including liquidity risk and the risk of investing in below-investment grade fixed income instruments.

**Lower Quality Debt Risk.** Lower-quality debt securities involve greater risk of default or price changes due to changes in the credit quality of the issuer. The value of lower-quality debt securities often fluctuates in response to company, political, or economic developments and can decline significantly over short periods of time or during periods of general or regional economic difficulty. Lower-quality debt securities can be thinly traded or have restrictions on resale, making them difficult to sell at an acceptable price. The default rate for lower-quality debt securities is likely to be higher during economic recessions or periods of high interest rates.

**Machinery and Electrical Equipment Industry Risk.** The machinery and electrical equipment industries can be significantly affected by general economic trends, including employment, economic growth, and interest rates; changes in consumer sentiment and spending; overall capital spending levels, which are influenced by an individual company's profitability and broader factors such as interest rates and foreign competition; commodity prices; technical obsolescence; labor relations legislation; government regulation and spending; import controls; and worldwide competition. Companies in these industries also can be adversely affected by liability for environmental damage, depletion of resources, and mandated expenditures for safety and pollution control.

---

| | |
|:---|:---|
| **EVENTIDE** | **105** |
| **EVENTIDE** | **105** |

---

---

| | |
|:---|:---|
| **P r o s p e c t u s**  | **N o v e m b e r 1, 2 0 2 5** |

---

**Management Risk.** The net asset value of a Fund changes daily based on the performance of the securities in which it invests. The portfolio managers' judgments about the attractiveness, value and potential appreciation of particular securities in which a Fund invests may prove to be incorrect, and there is no guarantee that the portfolio managers' judgments will produce the desired results.

**Market Risk.** Overall stock or bond market volatility may also affect the value of a Fund. Factors such as domestic and/or foreign economic growth and market conditions, interest rate levels, political events and terrorism affect the securities markets. A Fund's investments may decline in value if markets perform poorly. There is also a risk that a Fund's investments will underperform either the securities markets generally or particular segments of the securities markets. Unexpected local, regional or global events, such as war; acts of terrorism; financial, political or social disruptions; tariffs or trade wars; natural, environmental or man-made disasters; climate-change and climate-related events; the spread of infectious illnesses or other public health issues; recessions and depressions; or other events could have a significant impact on a Fund, and may impair market liquidity, thereby increasing liquidity risk. Such events can cause investor fear, which can adversely affect the economies of many companies, sectors, nations, regions and the market in general, in ways that cannot necessarily be foreseen.

The duration of these events, and their effects on the market, cannot be determined with certainty.

**Market Volatility-Linked ETFs Risk.** ETFs that are linked to market volatility have the risks associated with investing in futures. An ETF's use of futures involves risks different from, or possibly greater than, the risks associated with investing directly in securities and other traditional investments. These risks include (i) leverage risk; (ii) the risk of mispricing or improper valuation; and (iii) the risk that changes in the value of the futures contract may not correlate perfectly with the underlying index. Investments in futures involve leverage, which means a small percentage of assets invested in futures can have a disproportionately large impact on a Fund. This risk could cause the ETF to lose more than the principal amount invested. Futures contracts may become mispriced or improperly valued when compared to the adviser's expectation and may not produce the desired investment results. Additionally, changes in the value of futures contracts may not track or correlate perfectly with the underlying index because of temporary, or even long-term, supply and demand imbalances and because futures do not pay dividends unlike the stocks upon which they are based.

**Medium (Mid) Capitalization Company Risk.** To the extent a Fund invests in the stocks of medium-sized companies, the Fund may be subject to additional risks. The earnings and prospects of these companies are more volatile than larger companies. These companies may experience higher failure rates than larger companies. Medium-sized companies normally have a lower trading volume than larger companies, which may tend to make their market price fall more disproportionately than larger companies in response to selling pressures. Medium-sized companies may also have limited markets, product lines or financial resources and may lack management experience.

**Micro Capitalization Risk.** Micro capitalization companies may be newly formed or have limited product lines, distribution channels and financial and managerial resources. The risks associated with those investments are generally greater than those associated with investments in the securities of larger, more established companies. This may cause a Fund's net asset value to be more volatile when compared to investment companies that focus only on large capitalization companies.

Generally, securities of micro capitalization companies are more likely to experience sharper swings in market value, less liquid markets in which it may be more difficult for the Adviser and/or Sub-Adviser to sell at times and at prices

---

| | |
|:---|:---|
| **EVENTIDE** | **106** |
| **EVENTIDE** | **106** |

---

---

| | |
|:---|:---|
| **P r o s p e c t u s**  | **N o v e m b e r 1, 2 0 2 5** |

---

that the Adviser and/or Sub-Adviser believes appropriate and generally are more volatile than those of larger companies. Compared to large companies, micro capitalization companies are more likely to have (i) less information publicly available, (ii) more limited product lines or markets and less mature businesses, (iii) fewer capital resources, (iv) more limited management depth and (v) shorter operating histories. Further, the equity securities of micro capitalization companies are often traded over the counter and generally experience a lower trading volume than is typical for securities that are traded on a national securities exchange. Consequently, a Fund may be required to dispose of these securities over a larger period of time (and potentially at less favorable prices) than would be the case for securities of larger companies, offering greater potential for gains and losses and associated tax consequences.

**MLP and MLP-Related Securities Risk.** Investments in MLPs and MLP-related securities involve risks different from those of investing in common stock, including risks related to limited control and limited rights to vote on matters affecting the MLP or MLP-related security, risks related to potential conflicts of interest between an MLP and the MLP's general partner, cash flow risks, dilution risks (which could occur if the MLP raises capital and then invests it in projects whose return fails to exceed the cost of capital raised) and risks related to the general partner's limited call right. MLPs and MLP-related securities are generally considered interest-rate sensitive investments. During periods of interest rate volatility, these investments may not provide attractive returns. During periods of rising interest rates, the use of MLPs or MLP-related securities could hinder the overall performance of the Fund.

**MLP Tax Risk.** Typically, MLPs do not pay U.S. federal income tax at the partnership level. Instead, each partner is allocated a share of the partnership's income, gains, losses, deductions and expenses. A change in current tax law or in the underlying business mix of a given MLP could result in an MLP being treated as a corporation for U.S. federal income tax purposes, which would result in such MLP being required to pay U.S. federal income tax on its taxable income. The classification of an MLP as a corporation for U.S. federal income tax purposes would have the effect of reducing the amount of cash available for distribution by the MLP. Thus, if any of the MLPs owned by a Fund were treated as corporations for U.S. federal income tax purposes, it could result in a reduction in the value of your investment in the Fund and lower income, as compared to an MLP that is not taxed as a corporation.

**Municipal Bond Risk.** The value of municipal bonds that depend on a specific revenue source or general revenue source to fund their payment obligations may fluctuate as a result of changes in the cash flows generated by the revenue source(s) or changes in the priority of the municipal obligation to receive the cash flows generated by the revenue source(s). In addition, changes in federal tax laws or the activity of an issuer may adversely affect the tax-exempt status of municipal bonds. There is no guarantee that a municipality will pay interest or repay principal. In addition, the ability of an issuer to make payments or repay interest may be affected by litigation or bankruptcy. In the event of such an issuer's bankruptcy, a Fund could experience delays in collecting principal and interest, and may not, in all circumstances, be able to collect all principal and interest to which it is entitled. To enforce its rights in the event of a default in the payment of interest or repayment of principal, or both, a debt holder may, in some instances, take possession of, and manage, the assets securing the issuer's obligations on such securities, which may increase a Fund's operating expenses. Any income derived from a Fund's ownership or operation of such assets may not be tax-exempt. Municipal bonds are generally subject to interest rate, credit risk, and market risk.

Because many municipal bonds are issued to finance similar projects (such as those relating to education, health care, housing, transportation, and utilities), conditions in those sectors may affect the overall municipal securities market. In addition, changes in the financial condition of an individual municipal issuer can affect the overall municipal market. Municipal bonds backed by current or anticipated revenues from a specific project or specific

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|:---|:---|
| **EVENTIDE** | **107** |
| **EVENTIDE** | **107** |

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|:---|:---|
| **P r o s p e c t u s**  | **N o v e m b e r 1, 2 0 2 5** |

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assets can be negatively affected by the discontinuance of the supporting taxation or the inability to collect revenues for the specific project or specific assets. Municipal bonds are subject to the risk that the Internal Revenue Service (the "IRS") may determine that an issuer has not complied with applicable tax requirements and that interest from the municipal bond is taxable, which may result in a significant decline in the value of the security. Municipal bonds may be less liquid than taxable bonds and there may be less publicly available information on the financial condition of municipal bond issuers than for issuers of other securities, and the investment performance of a Fund may, therefore, be more dependent on the analytical abilities of the Sub-Adviser than if a Fund held other types of investments. The secondary market for municipal bonds also tends to be less well-developed or liquid than many other securities markets, a by-product of lower capital commitments to the asset class by the dealer community, which may adversely affect a Fund's ability to sell municipal bonds at attractive prices or value municipal bonds.

**Non-Diversification Risk.** Because a relatively high percentage of a non-diversified Fund's assets may be invested in the securities of a limited number of companies that could be in the same or related economic sectors, the Fund's portfolio may be more susceptible to any single economic, technological or regulatory occurrence than the portfolio of a diversified fund.

**Options Market Risk.** Markets for options and options on futures may not always operate on a fair and orderly basis. At times, prices for options and options on futures may not represent fair market value and prices may be subject to manipulation, which may be extreme under some circumstances. The dysfunction and manipulation of volatility and options markets may make it difficult for a Fund to effectively implement its investment strategy and achieve its objectives and could potentially lead to significant losses.

**Options Risk.** There are risks associated with the sale and purchase of call and put options. As the seller (writer) of a covered call option, a Fund assumes the risk of a decline in the market price of the underlying security below the purchase price of the underlying security less the premium received and gives up the opportunity for gain on the underlying security above the exercise option price. As the buyer of a put or call option, a Fund risks losing the entire premium invested in the option if the Fund does not exercise the option. As a seller (writer) of a put option, a Fund will lose money if the value of the underlying security falls below the strike price; the Fund's losses are potentially large in a written put transaction. If unhedged, the Fund's written call options expose the Fund to potentially unlimited losses. As a seller (writer) of a put option, the Fund will lose money if the value of the underlying reference instrument falls below the strike price. The Fund's losses are potentially large in a written put transaction. The use of derivative instruments, such as options, involves risks different from, or possibly greater than, the risks associated with investing directly in securities and other traditional investments, including the risk that the counterparty to an options transaction may not fulfill its contractual obligations.

**Over-the-Counter ("OTC") Trading Risk.** Certain of the derivatives in which a Fund may invest may be traded (and privately negotiated) in the OTC market. While the OTC derivatives market is the primary trading venue for many derivatives, it is largely unregulated. As a result and similar to other privately negotiated contracts, a Fund is subject to counterparty credit risk with respect to such derivative contracts.

**Preferred Stock Risk.** The value of preferred stocks will fluctuate with changes in interest rates. Typically, a rise in interest rates causes a decline in the value of preferred stock. Preferred stocks are also subject to credit risk, which is the possibility that an issuer of preferred stock will fail to make its dividend payments. Preferred stock prices tend to move more slowly upwards than common stock prices. In an issuer bankruptcy, preferred stockholders are subordinate to the claims of debtholders and may receive little or no recovery.

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|:---|:---|
| **EVENTIDE** | **108** |
| **EVENTIDE** | **108** |

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|:---|:---|
| **P r o s p e c t u s**  | **N o v e m b e r 1, 2 0 2 5** |

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**Prepayment and Extension Risk for Floating Rate Loans.** Prepayment risk is the risk that principal on a debt obligation may be repaid earlier than anticipated. Floating rate loans typically have no or limited call protection and may be prepaid partially or in full at certain times and, in certain circumstances, without penalty. If a floating rate loan is prepaid, a Fund may realize proceeds that are less than the value that had been assigned to the loan and/or may be forced to reinvest the proceeds in assets with lower yields than the loan that was repaid. Prepayment risk on fixed rate investments is the risk that principal on loans or other obligations underlying a security may be repaid prior to the stated maturity date, which may reduce the market value of the security and the anticipated yield-to-maturity. Extension risk is the risk that principal on a fixed rate obligation held by the Fund may be repaid later than anticipated, which may decrease the value of the obligation and prevent the Fund from investing expected repayment proceeds in instruments paying higher yields.

**Prepayment Risk.** During periods of declining interest rates, prepayment of loans underlying mortgage-backed and asset-backed securities usually accelerates. Prepayment may shorten the effective maturities of these securities, reducing their yield and market value, and a Fund may have to reinvest at a lower interest rate.

**Real Estate and REIT Risk.** A Fund is subject to the risks of the real estate market as a whole, such as taxation, regulations and economic and political factors that negatively impact the real estate market and the direct ownership of real estate. These may include decreases in real estate values, overbuilding, rising operating costs, interest rates and property taxes. In addition, some real estate related investments are not fully diversified and are subject to the risks associated with financing a limited number of projects. Investing in REITs involves certain unique risks in addition to those associated with the real estate sector generally. REITs whose underlying properties are concentrated in a particular industry or region are also subject to risks affecting such industries and regions. REITs (especially mortgage REITs) are also subject to interest rate risks. By investing in REITs through a Fund, a shareholder will bear expenses of the REITs in addition to Fund expenses. An entity that fails to qualify as a REIT would be subject to a corporate level tax, would not be entitled to a deduction for dividends paid to its shareholders and would not pass through to its shareholders the character of income earned by the entity. REITs are heavily dependent upon the management team and are subject to heavy cash flow dependency, defaults by borrowers and self-liquidation.

**Regulatory Risk.** Changes in the laws or regulations of the United States or other countries, including any changes to applicable tax laws and regulations, could impair the ability of a Fund to achieve its investment objective and could increase the operating expenses of the Fund.

**Repurchase and Reverse Repurchase Agreements Risk.** A Fund may enter into repurchase agreements in which it purchases a security (known as the "underlying security") from a securities dealer or bank. In the event of a bankruptcy or other default by the seller of are purchase agreement, a Fund could experience delays in liquidating the underlying security and losses in the event of a decline in the value of the underlying security while the Fund is seeking to enforce its rights under the repurchase agreement. Reverse repurchase agreements involve the sale of securities held by a Fund with an agreement to repurchase the securities at an agreed-upon price, date and interest payment, and involve the risk that (i) the other party may fail to return the securities in a timely manner, or at all, and (ii) the market value of assets that are required to be repurchased decline below the purchase price of the asset that has to be sold, resulting in losses to the Fund.

**Restricted Securities Risk.** A Fund may hold securities that are restricted as to resale under the U.S. federal securities laws. There can be no assurance that a trading market will exist at any time for any particular restricted security. Limitations on the resale of these securities may prevent the Fund from disposing of them promptly at reasonable

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|:---|:---|
| **EVENTIDE** | **109** |
| **EVENTIDE** | **109** |

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|:---|:---|
| **P r o s p e c t u s**  | **N o v e m b e r 1, 2 0 2 5** |

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prices or at all. A Fund may have to bear the expense of registering the securities for resale and the risk of substantial delays in effecting the registration. Also, restricted securities may be difficult to value because market quotations may not be readily available, and the values of restricted securities may have significant volatility.

**Risk Management Risk.** The measures that the Adviser, Sub-Adviser or portfolio manager use to monitor and manage the risks of a Fund may not accomplish the intended results and a Fund may experience losses significantly greater than expected.

**Sector Exposure Risk.** Sector exposure risk is the possibility that securities within the same sector may decline in price due to sector-specific market or economic developments. If the Fund invests more heavily in a particular sector, the value of its shares may be especially sensitive to factors and economic risks that specifically affect that sector. As a result, a Fund's share price may fluctuate more widely than the value of shares of a mutual fund that invests in a broader range of sectors. Additionally, some sectors could be subject to greater government regulation than other sectors. Therefore, changes in regulatory policies for those sectors may have a material effect on the value of securities issued by companies in those sectors.

**Security Risk.** The value of a Fund may decrease in response to the activities and financial prospects of an individual security or group of securities in the Fund's portfolio. The value of certain types of securities can be more volatile due to increased sensitivity to adverse issuer, political, regulatory, market, or economic developments. There can be no guarantee the securities held by a Fund will appreciate in value.

**Segregation Risk.** In order to secure its obligations to cover its short positions on options, a Fund will either own the underlying assets, enter into offsetting transactions or set aside cash or readily marketable securities. This requirement may cause a Fund to miss favorable trading opportunities, due to a lack of sufficient cash or readily marketable securities. This requirement may also cause a Fund to realize losses on offsetting or terminated derivative contracts or special transactions.

**Semiconductor Industry Risk.** Semiconductor companies face intense competition, both domestically and internationally, and such competition may have an adverse effect on profit margins. Semiconductor companies may have limited product lines, markets, financial resources or personnel. The products of semiconductor companies may face obsolescence due to rapid technological developments and frequent new product introduction, unpredictable changes in growth rates and competition for the services of qualified personnel. Capital equipment expenditures could be substantial, and equipment generally suffers from rapid obsolescence. Companies in the semiconductor industry are heavily dependent on patent and intellectual property rights. The loss or impairment of these rights would adversely affect the profitability of these companies.

**Short Position Risk.** A Fund's long positions could decline in value at the same time that the value of the short positions increase, thereby increasing the Fund's overall potential for loss. A Fund's short positions may result in a loss if the price of the short position instruments rise and it costs more to replace the short positions. In contrast to a Fund's long positions, for which the risk of loss is typically limited to the amount invested, the potential loss on the Fund's short positions is potentially large. Market factors may prevent a Fund from closing out a short position at the most desirable time or at a favorable price.

**Short Selling Risk.** If the price of the security sold short increases between the time of the short sale and the time a Fund covers its short position, the Fund will incur a loss. Also, the Fund is required to deposit collateral in connection

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|:---|:---|
| **EVENTIDE** | **110** |
| **EVENTIDE** | **110** |

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|:---|:---|
| **P r o s p e c t u s**  | **N o v e m b e r 1, 2 0 2 5** |

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with such short sales and may have to pay a fee to borrow particular securities and will often be obligated to pay over any dividends and accrued interest on borrowed securities. These aspects of short selling increase the costs to the Fund and will reduce its rate of return. Additionally, the successful use of short selling may be adversely affected by imperfect correlation between movements in the price of the security sold short and the securities being hedged.

**Small Capitalization Company Risk.** To the extent a Fund invests in the stocks of small and mid-sized companies, the Fund may be subject to additional risks. The earnings and prospects of these companies are more volatile than larger companies. Smaller-sized companies may experience higher failure rates than larger companies. Smaller-sized companies normally have a lower trading volume than larger companies, which may tend to make their market price fall more disproportionately than larger companies in response to selling pressures. Smaller-sized companies may have limited markets, product lines or financial resources and may lack management experience.

**Sovereign Debt Risk.** The issuer of the foreign debt or the governmental authorities that control the repayment of the debt may be unable or unwilling to repay principal or interest when due, and a Fund may have limited recourse in the event of a default. The market prices of sovereign debt, and a Fund's net asset value, may be more volatile than prices of U.S. debt obligations and certain emerging markets may encounter difficulties in servicing their debt obligations.

**Stock Value Risk.** Stocks involve the risk that they may never reach what the Adviser believes is their full market value, either because the market fails to recognize the stock's intrinsic worth, or the Adviser misgauged that worth. Stocks also may decline in price, even though, in theory, they are already undervalued. Because different types of stocks tend to shift in and out of favor depending on market and economic conditions, a Fund's performance may sometimes be lower or higher than that of other types of funds (such as those emphasizing only stocks of a particular market capitalization, sector or investment strategy). Investments in private companies that lack readily observable or market-corroborated prices generally increase stock valuation risk because they are more difficult to value. Many private companies are not required to file periodic financial reports, leading to challenges in the Adviser's ability to evaluate a company's business prospects and the fair value of its securities. The fair valued prices assigned to the Fund's investments in private companies are based on a variety of factors, reviewed regularly, and updated as additional information becomes available. However, fair value pricing includes subjective judgments, and it is possible that the fair value assigned to a security may differ materially from the value the Fund would realize if the security were sold.

**Structured Note Risk.** A Fund may seek investment exposure to sectors through structured notes that may be exchange traded or may trade in the over-the-counter market. These notes are typically issued by banks or brokerage firms and have interest and/or principal payments which are linked to changes in the price level of certain assets or to the price performance of certain indices. The value of a structured note will be influenced by time to maturity, level of supply and demand for this type of note, interest rate and market volatility, changes in the issuer's credit quality rating, and economic, legal, political, or other events that affect the industry. In addition, there may be a lag between a change in the value of the underlying reference asset and the value of the structured note. Structured notes may also be subject to counterparty risk. A Fund may also be exposed to increased transaction costs when it seeks to sell such notes in the secondary market.

**Sub-Prime Mortgage Risk.** Lower-quality notes, such as those considered "sub-prime" are more likely to default than those considered "prime" by a rating evaluation agency or service provider. An economic downturn or period of rising interest rates could adversely affect the market for sub-prime notes and reduce a Fund's ability to sell these

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|:---|:---|
| **EVENTIDE** | **111** |
| **EVENTIDE** | **111** |

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|:---|:---|
| **P r o s p e c t u s**  | **N o v e m b e r 1, 2 0 2 5** |

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securities. The lack of a liquid market for these securities could decrease a Fund's share price. Additionally, borrowers may seek bankruptcy protection which would delay resolution of security holder claims and may eliminate or materially reduce liquidity.

**Swaps Risk.** A Fund's use of total return swaps involves risks different from, or possibly greater than, the risks associated with investing directly in securities and other traditional investments. These risks include (i) the risk that the counterparty to a derivative transaction may not fulfill its contractual obligations; (ii) the risk of mispricing or improper valuation; and (iii) the risk that changes in the value of the derivative may not correlate perfectly with the underlying asset, rate or index. Derivative prices are highly volatile and may fluctuate substantially during a short period of time. Such prices are influenced by numerous factors that affect the markets, including, but not limited to: changing supply and demand relationships; government programs and policies; national and international political and economic events, changes in interest rates, inflation and deflation and changes in supply and demand relationships. Trading derivative instruments involves risks different from, or possibly greater than, the risks associated with investing directly in securities. Derivative contracts ordinarily have leverage inherent in their terms. The low margin deposits normally required in trading derivatives, including futures contracts, permit a high degree of leverage. Accordingly, a relatively small price movement may result in an immediate and substantial loss to a Fund. The use of leverage may also cause a Fund to liquidate portfolio positions when it would not be advantageous to do so in order to satisfy its obligations. The use of leveraged derivatives can magnify a Fund's potential for loss and, therefore, amplify the effects of market volatility on a Fund's share price.

**Technology Sector Risk.** Technology companies face intense competition, both domestically and internationally, which may have an adverse effect on profit margins. Technology companies may have limited product lines, markets, financial resources or personnel. The products of technology companies may face obsolescence or adoption challenges due to rapid technological developments and frequent new product introduction, unpredictable changes in growth rates and competition for the services of qualified personnel. Companies in the technology sector can be heavily dependent on patent and intellectual property rights. The loss or impairment of these rights may adversely affect the profitability of these companies. Investments in this sector can be highly volatile. Their values may be adversely affected by such factors as, for example, rapid technological change, changes in management personnel, changes in the competitive environment, and changes in investor sentiment. Many technologies companies are small or mid-sized companies and may be newly organized.

***Financial Technology Companies Risk.*** Fintech companies could result in new business models, applications, processes or products with an associated effect on the provision of financial services. Certain fintech companies may seek to disrupt or displace established financial institutions and may face competition from larger and more established companies. Fintech companies that utilize disruptive technologies may not be able to capitalize on them when facing political and/or legal attacks from competitors, industry groups or local and national governments. Newer or smaller fintech companies may not currently be profitable, and there can be no assurance that these companies will be profitable in the future. Additionally, fintech companies may be adversely impacted by potential rapid product obsolescence, cybersecurity attacks and disruptions in the technology they depend on.

Legal and regulatory changes, particularly related to information privacy and data protection, may impact the products or services of fintech companies. Increasing regulatory scrutiny and legal liability may limit the development and impede the growth of these companies. Similarly, the collection and storage of data from consumers and other sources may face increased scrutiny as regulators consider how data may be collected, stored, safeguarded and used.

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|:---|:---|
| **EVENTIDE** | **112** |
| **EVENTIDE** | **112** |

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|:---|:---|
| **P r o s p e c t u s**  | **N o v e m b e r 1, 2 0 2 5** |

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***Healthcare Technology and Devices Companies Risk.*** Companies in this sector may be heavily dependent on clinical trials with uncertain outcomes and decisions made by the governments and regulatory authorities. Further, these companies are dependent on patent protection, and the expiration of patents may adversely affect the profitability of the companies. Additionally, the profitability of some of these companies may be dependent on a relatively limited number of products, and their products can become obsolete due to sector innovation, changes in technologies or other market developments.

***Information Technology Companies Risk.*** Information technology companies face intense competition, potentially rapid product obsolescence, short product cycles, falling prices and profits, and competition from new market entrants.

***Internet and Direct Marketing Retail Risk.*** Internet and Direct Marketing Retail companies provide retail services primarily on the Internet, through mail order, and TV home shopping retailers. These companies are dependent upon consumer spending, general economic conditions, the availability of disposable income, changing consumer tastes and preferences, and consumer demographics. These companies are subject to the risk that they will underperform as a whole due to legislative or regulatory changes, or increased government supervision.

**Tracking Risk of ETFs.** The ETFs in which a Fund may invest will not be able to replicate exactly the performance of the indices or sector they track because the total return generated by the securities will be reduced by transaction costs incurred in adjusting the actual balance of the securities. In addition, the ETFs in which a Fund may invest will incur expenses not incurred by their applicable indices. Certain securities comprising the indices tracked by the ETFs may, from time to time, temporarily be unavailable, which may further impede the ETFs' ability to track their applicable indices.

**Turnover Risk.** A Fund may have a high turnover of the securities held in its portfolio. Increased portfolio turnover causes the Fund to incur higher brokerage costs, which may adversely affect the Fund's performance and may produce increased taxable distributions.

**Underlying Fund Risk.** Because a Fund may invest in other investment companies, including mutual funds, ETFs, closed-end funds or private funds, the value of your investment will fluctuate in response to the performance of the underlying funds. Investing in underlying funds involves certain additional expenses and certain tax results that would not arise if you invested directly in the underlying funds. By investing in underlying funds, you will bear not only your proportionate share of a Fund's expenses (including operating costs and investment advisory and administrative fees), but also, indirectly, similar expenses and charges of the underlying funds, including any contingent deferred sales charges and redemption charges. Finally, you may incur increased tax liabilities by investing in the Fund rather than directly in the underlying funds. Each underlying fund is subject to specific risks, depending on the nature of its investment strategy, including liquidity risk and default risk on the assets held by the underlying fund. Additional risks of investing in ETFs and mutual funds are described below:

***Closed-End Fund Risk.*** Closed-end funds are subject to investment advisory and other expenses, which will be indirectly paid by the Funds. As a result, your cost of investing will be higher than the cost of investing directly in a closed-end fund and may be higher than other mutual funds that invest directly in stocks and bonds. Closed-end funds are also subject to management risk because the Adviser to the underlying closed-end fund may be unsuccessful in meeting the fund's investment objective. These funds may also trade at a discount or premium to their net asset value and may trade at a larger discount or smaller premium subsequent to purchase by the Funds.

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| **EVENTIDE** | **113** |
| **EVENTIDE** | **113** |

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| **P r o s p e c t u s**  | **N o v e m b e r 1, 2 0 2 5** |

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Since closed-end funds trade on exchanges, a Fund will also incur brokerage expenses and commissions when it buys or sells closed-end fund shares.

***ETF Tracking Risk.*** Investment in a Fund should be made with the understanding that the passive ETFs in which the Fund invests will not be able to replicate exactly the performance of the indices they track because the total return generated by the securities will be reduced by transaction costs incurred in adjusting the actual balance of the securities. In addition, the passive ETFs in which a Fund invests will incur expenses not incurred by their applicable indices. Certain securities comprising the indices tracked by the passive ETFs may, from time to time, temporarily be unavailable, which may further impede the passive ETFs' ability to track their applicable indices.

***Inverse Correlation Risk.*** Underlying Funds that are inverse funds should lose value as the index or security tracked by such fund's benchmark increases in value; a result that is the opposite from traditional mutual funds. Successful use of inverse funds requires that the Adviser or Sub-Adviser correctly predict short term market movements. If a Fund invests in an inverse fund and markets rise, the Fund could lose money. Inverse funds may also employ leverage such that their returns are more than one times that of their benchmark.

***Management Risk.*** When a Fund invests in Underlying Funds there is a risk that the investment advisers of those Underlying Funds may make investment decisions that are detrimental to the performance of the Fund.

***Mutual Fund Risk.*** Mutual funds are subject to investment advisory and other expenses, which will be indirectly paid by the Funds. As a result, your cost of investing will be higher than the cost of investing directly in a mutual fund and may be higher than other mutual funds that invest directly in stocks and bonds. Mutual funds are also subject to management risk because the adviser to the underlying mutual fund may be unsuccessful in meeting the fund's investment objective and may temporarily pursue strategies which are inconsistent with a Fund's investment objective.

***Net Asset Value and Market Price Risk.*** The market value of ETF shares may differ from their net asset value. This difference in price may be due to the fact that the supply and demand in the market for fund shares at any point in time is not always identical to the supply and demand in the market for the underlying basket of securities. Accordingly, there may be times when shares trade at a premium or discount to net asset value.

***Strategies Risk.*** Each Underlying Fund is subject to specific risks, depending on the nature of the fund. These risks could include liquidity risk, sector risk, and foreign currency risk, as well as risks associated with fixed income securities and commodities.

**U.S. Government Obligations Risk.** U.S. Treasury obligations are backed by the "full faith and credit" of the U.S. government and generally have negligible credit risk. Securities issued or guaranteed by federal agencies or authorities and U.S. government-sponsored instrumentalities or enterprises may or may not be backed by the full faith and credit of the U.S. government. A Fund may be subject to such risk to the extent it invests in securities issued or guaranteed by federal agencies or authorities and U.S. government-sponsored instrumentalities or enterprises.

**Volatility Risk*.*** A Fund's performance may be volatile, which means that the Fund's performance may be subject to substantial short-term changes up or down.

**Yieldcos Risk.** Investments in securities of yieldcos involve risks that differ from investments in traditional operating companies, including risks related to the relationship between the yieldco and the company responsible for the formation of the yieldco (the "Yieldco Sponsor"). Yieldcos typically remain dependent on the management and

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|:---|:---|
| **EVENTIDE** | **114** |
| **EVENTIDE** | **114** |

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| **P r o s p e c t u s**  | **N o v e m b e r 1, 2 0 2 5** |

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administration services provided by or under the direction of the Yieldco Sponsor and on the ability of the Yieldco Sponsor to identify and present the yieldco with acquisition opportunities, which may often be assets of the Yieldco Sponsor itself. To the extent that the yieldco relies on the Yieldco Sponsor for developing new assets for potential future acquisitions, the yieldco may be dependent on the development capabilities and financial health of the Yieldco Sponsor. Yieldco Sponsors may have interests that conflict with the interests of the yieldco and may retain control of the yieldco via classes of stock held by the Yieldco Sponsor. Congress voted not to extend bonus depreciation in 2015 for qualifying capital equipment, meaning new yieldco assets could be subject to slower depreciation schedules and less ability to minimize tax liabilities. Additionally, Congress could vote to eliminate production tax credits ("PTCs") for green energy projects, which could reduce the profitability of companies, including yieldcos that operate in the renewable energy space. Yieldco securities can be affected by macro-economic and other factors affecting the stock market in general, expectations of interest rates, investor sentiment towards yieldcos or the energy sector, changes in a particular issuer's financial condition, or unfavorable or unanticipated poor performance of a particular issuer (in the case of yieldcos, generally measured in terms of distributable cash flow). A yieldco's share price is typically a multiple of its distributable cash flow. Therefore, any event that limits the yieldco's ability to maintain or grow its distributable cash flow would likely have a negative impact on the yieldco's share price. Prices of yieldco securities also can be affected by fundamentals unique to the company, including the robustness and consistency of its earnings and its ability to meet debt obligations including the payment of interest and principle to creditors. Yieldcos may distribute all or substantially all of the cash available for distribution, which may limit new acquisitions and future growth. Yieldcos may finance its growth strategy with debt, which may increase the yieldco's leverage and the risks associated with the yieldco. The ability of a yieldco to maintain or grow its dividend distributions may depend on the entity's ability to minimize its tax liabilities through the use of accelerated depreciation schedules, tax loss carryforwards, and tax incentives. Changes to the current tax code could result in greater tax liabilities, which would reduce the yieldco's distributable cash flow.

Portfolio Holdings Disclosure Policies

A description of the Funds' policies regarding disclosure of the securities in each Fund's portfolio is found in the SAI.

Cybersecurity

The computer systems, networks and devices used by the Funds and their service providers to carry out routine business operations employ a variety of protections designed to prevent damage or interruption from computer viruses, network failures, computer and telecommunication failures, infiltration by unauthorized persons and security breaches. Despite the various protections utilized by the Funds and their service providers, systems, networks, or devices potentially can be breached. The Funds and their shareholders could be negatively impacted as a result of a cybersecurity breach.

Cybersecurity breaches can include unauthorized access to systems, networks, or devices; infection from computer viruses or other malicious software code; and attacks that shut down, disable, slow, or otherwise disrupt operations, business processes, or website access or functionality. Cybersecurity breaches may cause disruptions and impact a Fund's business operations, potentially resulting in financial losses; interference with a Fund's ability to calculate its NAV; impediments to trading; the inability of a Fund, the Adviser or Sub-Adviser, and other service providers to transact business; violations of applicable privacy and other laws; regulatory fines, penalties, reputational damage, reimbursement or other compensation costs, or additional compliance costs; and the inadvertent release of confidential information.

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| **EVENTIDE** | **115** |
| **EVENTIDE** | **115** |

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| **P r o s p e c t u s**  | **N o v e m b e r 1, 2 0 2 5** |

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Similar adverse consequences could result from cybersecurity breaches affecting issuers of securities in which a Fund invests; counterparties with which a Fund engages in transactions; governmental and other regulatory authorities; exchange and other financial market operators, banks, brokers, dealers, insurance companies, and other financial institutions (including financial intermediaries and service providers for a Fund's shareholders); and other parties. In addition, substantial costs may be incurred by these entities in order to prevent any cybersecurity breaches in the future.

How to Buy Shares

Purchasing Shares

You may buy shares on any business day. This includes any day that a Fund is open for business, other than weekends and days on which the New York Stock Exchange ("NYSE") is closed, including the following holidays: New Year's Day, Martin Luther King, Jr. Day, Presidents' Day, Good Friday, Memorial Day, Juneteenth National Independence Day, Independence Day, Labor Day, Thanksgiving Day and Christmas Day.

Each Fund calculates its net asset value ("NAV") per share as of the close of regular trading on the NYSE every day the NYSE is open. The NYSE normally closes at 4:00 p.m. Eastern Time ("ET"). Each Fund's NAV is calculated by taking the total value of the Fund's assets, subtracting its liabilities, and then dividing by the total number of shares outstanding, rounded to the nearest cent.

All shares will be purchased at the NAV per share (plus applicable sales charges, if any) next determined after a Fund receives your application or request in good order. All requests received in good order by a Fund before 4:00 p.m. (ET) will be processed on that same day. Requests received after 4:00 p.m. will be processed on the next business day.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Good Order:** When making a purchase request, make sure your request is in good order. "Good order" means your purchase request includes:<br>■ a completed and signed account application (for new accounts)<br>■ the exact dollar amount of the investment<br>■ for existing accounts, the account number and the name(s) exactly as registered on the account<br>■ payment in U.S. dollars, payable to the Fund<br>■ any documentation reasonably required by the Fund or its transfer agent to verify the identity or authority of the purchaser, if applicable.<br>Requests that are incomplete, unclear, or submitted without the required documentation may be delayed or rejected. The Fund and its transfer agent are not responsible for delays or losses due to requests that are not received in good order.<br>

Sales Charge Waivers and Reductions Available Through Certain Financial Intermediaries

The availability of certain sales charge waivers and discounts may depend on whether you purchase your shares directly from the Funds or through a financial intermediary. Intermediaries may impose different sales charges other than those listed below for Class A and Class C shares and may have different policies and procedures regarding the availability of sales load and waivers or reductions. Such intermediary-specific sales charge variations are described

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| | |
|:---|:---|
| **EVENTIDE** | **116** |
| **EVENTIDE** | **116** |

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| | |
|:---|:---|
| **P r o s p e c t u s**  | **N o v e m b e r 1, 2 0 2 5** |

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in Appendix A to this prospectus, titled "Intermediary-Specific Sales Charge Reductions and Waivers." Appendix A is incorporated by reference into (or legally considered part of) this prospectus.

In all instances, it is the shareholder's responsibility to notify a Fund or the shareholder's financial intermediary at the time of purchase of any relationship or other facts qualifying the shareholder for sales charge reductions or waivers. For reductions and waivers not available through a particular intermediary, shareholders will have to purchase Fund shares directly from the Fund or through another intermediary to receive these reductions or waivers.

Multiple Classes

Each Fund offers Class A, Class C, Class N, and Class I shares in the prospectus. Each class of shares has a different distribution arrangement and expenses to provide for different investment needs. Additionally, Class I shares that are purchased through a financial intermediary have a minimum initial investment amount of $100,000. This allows you to choose the class of shares most suitable for you depending on the amount and length of investment and other relevant factors. Sales personnel may receive different compensation for selling each class of shares. Each class of shares represents an interest in the same portfolio of investments in the Fund. Not all share classes may be available in all states.

Unless a financial adviser is associated with your account when purchasing directly from a Fund, as indicated by records of the Fund's transfer agent, your investment will be made in the Fund's Class I shares regardless of the share class you may have designated on your Shareholder Account Application.

Class A Shares

You can buy Class A shares at the public offering price, which is the NAV plus an up-front sales charge. You may qualify for a reduced sales charge as described below. The up-front sales charge also does not apply to Class A shares acquired through reinvestment of dividends and capital gains distributions. Intermediaries may impose different sales charges other than those listed below for Class A shares and may have different policies and procedures regarding the availability of sales load and waivers or reductions. Such intermediary-specific sales charge variations are described in Appendix A to this prospectus, titled "Intermediary-Specific Sales Charge Reductions and Waivers." Class A shares are subject to a 12b-1 fee of 0.25% that is lower than the 12b-1 fee for the Class C shares of 1.00%, and higher than the 12b-1 fee for Class N shares of 0.20%.

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| | |
|:---|:---|
| **EVENTIDE** | **117** |
| **EVENTIDE** | **117** |

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| | |
|:---|:---|
| **P r o s p e c t u s**  | **N o v e m b e r 1, 2 0 2 5** |

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The up-front Class A sales charge and the commissions payable by you at the time of investment to dealers for the Funds are as follows:

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| | | | |
|:---|:---|:---|:---|
| Amount of Purchase | Sales Charge<br> (% of Public Offering<br> Price) | Sales Charge<br> (% of Net Amount Invested) | Authorized Dealer Commission<br> (% of Public Offering Price) |
| Less than $50,000 | 5.75% | 6.10% | 5.00% |
| $50,000 but less than $100,000 | 4.75% | 4.99% | 4.00% |
| $100,000 but less than $250,000 | 4.00% | 4.17% | 3.25% |
| $250,000 and above <sup>1</sup> | 0.00% | 0.00% | 0.00% <sup>2</sup> |

---

------

*1.* *In the case of investments at or above the $250,000 breakpoint (where you do not pay an initial sales charge), a 1.00% contingent deferred sales charge ("CDSC") may be assessed on shares redeemed within eighteen months of purchase. As explained below, the CDSC for these Class A shares is based on the NAV at the time of purchase. The holding period for the CDSC begins on the day you buy your shares. Some intermediaries may waive or discount the CDSC under certain circumstances. Please refer to Appendix A to this prospectus, titled "Intermediary-Specific Sales Charge Reductions and Waivers" for more information.* 

*2.* *The Adviser may pay a 1% commission out of its own resources to broker-dealers who initiate and are responsible for the purchase of shares of $250,000 or more.* 

Class A Sales Charge Reductions.

There are a number of ways to reduce or eliminate the up-front sales charge on Class A shares. Reduced sales charges are available to shareholders with investments of $50,000 or more. In addition, you may qualify for reduced sales charges under the following circumstances.

***Letter of Intent.*** An investor may qualify for a reduced sales charge immediately by stating his or her intention to invest in one or more of the Funds, during a 13-month period, an amount that would qualify for a reduced sales charge and by signing a Letter of Intent, which may be signed at any time within 90 days after the first investment to be included under the Letter of Intent. However, if an investor does not buy enough shares to qualify for the lower sales charge by the end of the 13-month period (or when you sell your shares, if earlier), the additional shares that were purchased due to the reduced sales charge credit the investor received will be liquidated to pay the additional sales charge owed.

***Rights of Accumulation.*** You may add the current value of all of your existing Fund shares to determine the front-end sales charge to be applied to your current Class A purchase. Only balances currently held entirely at the Funds or, if held in an account through a financial services firm, at the same firm through whom you are making your current purchase, will be eligible to be added to your current purchase for purposes of determining your Class A sales charge. You may include the value of Fund investments held by the members of your immediate family, including the value of Fund investments held by you or them in individual retirement plans, such as individual retirement accounts, or IRAs, provided such balances are also currently held entirely at the Funds or, if held in an account through a financial services firm, at the same financial services firm through whom you are making your current purchase. The value of shares eligible for a cumulative quantity discount equals the cumulative cost of the shares purchased (not including reinvested dividends) or the current account market value; whichever is greater. The current market value of the shares is determined by multiplying the number of shares by the previous day's NAV. If you believe there are cumulative quantity discount eligible shares that can be combined with your current purchase to achieve a sales charge breakpoint, you must, at the time of your purchase (including at the time of any future purchase) specifically identify those shares to your current purchase broker-dealer.

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| | |
|:---|:---|
| **EVENTIDE** | **118** |
| **EVENTIDE** | **118** |

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| | |
|:---|:---|
| **P r o s p e c t u s**  | **N o v e m b e r 1, 2 0 2 5** |

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***Class A Sales Charge Waivers.*** Each Fund may sell Class A shares at NAV (i.e. without the investor paying any initial sales charge) to certain categories of investors, including: (1) investment advisory clients or investors referred by the Adviser or its affiliates; (2) officers and present or former Trustees; directors and employees of selected dealers or agents; the spouse, sibling, direct ancestor or direct descendant (collectively "relatives") of any such person; any trust, individual retirement account or retirement plan account for the benefit of any such person or relative; or the estate of any such person or relative; if such shares are purchased for investment purposes (such shares may not be resold except to the Fund); (3) the Adviser or its affiliates and certain employee benefit plans for employees of the Adviser; (4) fee-based financial planners and registered investment advisers who are purchasing on behalf of their clients where there is an agreement in place with respect to such purchases; (5) registered representatives of broker-dealers who have entered into selling agreements with the Adviser for their own accounts; and (6) participants in no-transaction-fee programs of broker dealers that that have entered into an agreement with the Fund, Adviser or distributor with respect to such purchases.

For more information regarding which intermediaries may have agreements with the Fund or distributor and their policies and procedures with respect to purchases at NAV, see Appendix A to this prospectus, titled "Intermediary-Specific Sales Charge Reductions and Waivers." In addition, certain intermediaries may also provide for different sales charge discounts, which are also described in Appendix A to this prospectus.

***Reinvestment Privilege.*** Within 90 days of redeeming certain Class A shares, the redemption proceeds may be reinvested without a sales charge in Class A shares of any Fund in the Eventide family of funds. This privilege applies to redemptions of Class A shares that were subject to an initial sales charge. You or your financial adviser must ask the Funds' transfer agent for this privilege in writing at the time of reinvestment and must identify the account from which the redemption was made.

***Sales Charge.*** For each Fund, with respect to Class A shares, if you invest $1 million or more, either as a lump sum or through our rights of accumulation quantity discount or letter of intent programs, you can buy Class A shares without an initial sales charge. For investments of $250,000 or more, you may be subject to a 1.00% CDSC on shares redeemed within eighteen months of purchase (excluding shares purchased with reinvested dividends and/or distributions). The CDSC for these Class A shares is based on the NAV at the time of purchase. The holding period for the CDSC begins on the day you buy your shares. Your shares will age one month on that same date the next month and each following month. For example, if you buy shares on the 15th of the month, they will age one month on the 15th day of the next month and each following month. To keep your CDSC as low as possible, each time you place a request to sell shares we will first sell any shares in your account that are not subject to a CDSC. If there are not enough of these to meet your request, we will sell the shares in the order they were purchased.

Additional information is available by calling 877-771-3836. Your financial adviser can also help you prepare any necessary application forms. You or your financial adviser must notify the Funds at the time of each purchase if you are eligible for any of these programs. The Funds may modify or discontinue these programs at any time. Information on sales charge reductions and/or waivers is not separately available on the Funds' website because it is contained in this Prospectus.

Certain intermediaries may provide for different sales charge discounts which are described in Appendix A to this prospectus, entitled "Intermediary-Specific Charge Reductions and Waivers."

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| | |
|:---|:---|
| **EVENTIDE** | **119** |
| **EVENTIDE** | **119** |

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| | |
|:---|:---|
| **P r o s p e c t u s**  | **N o v e m b e r 1, 2 0 2 5** |

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Class C Shares

You can buy class C shares at NAV. A deferred sales charge of 1.00% applies, however, if Class C shares are sold within 12 months of purchase. Class C shares are subject to a 12b-1 fee of 1.00% of each Fund's average daily net assets, payable to the adviser or selected dealers. Because Class C shares pay a higher 12b-1 fee than Class A shares, Class C shares have higher ongoing expenses than Class A shares.

Shares acquired through reinvestment of dividends or capital gains distributions are not subject to a deferred sales charge. In addition, the deferred sales charge may be waived in certain circumstances. See "Waiver of Deferred Sales Charge" below. The deferred sales charge is based upon the lesser of: (1) the NAV of the shares redeemed or (2) the original purchase price of such shares. The holding period for the deferred sales charge begins on the day you buy your shares. Your shares will age one month on that same date the next month and each following month. For example, if you buy shares on the 15th of the month, they will age one month on the 15th day of the next month and each following month. To keep your deferred sales charges as low as possible, each time you place a request to sell shares, we will first sell any shares in your account that are not subject to a deferred sales charge. If there are not enough of these shares available, we will sell shares that have the lowest deferred sales charge. For purposes of the deferred sales charge, we use the effective date for each individual purchase.

Waiver of Deferred Sales Charge

Certain intermediaries may provide for sales charge discounts, which are described in Appendix A to this prospectus, entitled "Intermediary-Specific Charge Waivers."

Class N Shares

You can buy Class N shares at NAV. Class N shares are subject to a 12b-1 fee of 0.20% of each Fund's average daily net assets, payable to the Adviser or selected dealers.

Class I Shares

You can buy Class I shares at NAV. Sales of Class I shares are not subject to a sales charge or an annual 12b-1 fee. Availability of Class I shares through a financial intermediary is subject to an agreement between the distributor and financial intermediary. Class I shares may also be available on certain brokerage platforms. An investor transacting in Class I shares through a broker acting as an agent for the investor may be required to pay a commission and/or other forms of compensation to the broker.

Distribution Plans

The Funds have adopted distribution and service plans under Rule 12b-1 of the 1940 Act that allows the Funds to pay distribution and/or service fees in connection with the distribution of its Class A, Class C and Class N shares and for services provided to shareholders (the "Plan"). Because these fees are paid out of Fund assets on an ongoing basis, over time these fees will increase the cost of your investment and may cost you more than paying other types of sales charges.

***Class A Shares.*** Under the Plan related to the Class A shares, each Fund may pay an annual fee of up to 0.50% of the average daily net assets of the Fund's Class A shares for shareholder services and distribution related expenses. Each Fund is currently paying a 12b-1 fee of up to 0.25% of its average daily net assets. If authorized by the Board and upon notice to shareholders, the Fund may increase the percentage paid under the Plan up to the Class A 12b-1 Fee

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| | |
|:---|:---|
| **EVENTIDE** | **120** |
| **EVENTIDE** | **120** |

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|:---|:---|
| **P r o s p e c t u s**  | **N o v e m b e r 1, 2 0 2 5** |

---

amount. All or a portion of the distribution and services fees may be paid to your financial adviser for providing ongoing services to you.

***Class C Shares.*** Under the Plan related to the Class C shares, each Fund may pay an annual fee of up to 1.00% of the average daily net assets of the Fund's Class C shares. A portion of the distribution and services fees may be paid to your financial adviser for providing ongoing service to you.

***Class N Shares.*** Under the Plan related to the Class N shares, each Fund may pay an annual fee of up to 0.25% of the average daily net assets of the Fund's Class N shares for shareholder services and distribution related expenses. Each Fund is currently paying a 12b-1 fee of up to 0.20% for the Class N shares.

Opening an Account

You may purchase shares directly through the Funds' transfer agent or through a brokerage firm or other financial institution that has agreed to sell Fund shares. If you purchase shares through a brokerage firm or other financial institution, you may be charged a fee by the firm or institution.

If you are investing in a Fund for the first time through the Fund's transfer agent, you need to establish an account with the Fund. Accounts may be opened online at or by mailing a completed Shareholder Account Application along with payment (in the form of a check or wire transfer) to the Eventide Funds to the appropriate address below. Shareholder Account Applications may be obtained on the Funds' website at <u>www.eventidefunds.com</u> or by calling 877-771-3836. Be sure to sign up for all the account options that you plan to take advantage of. For example, if you would like to be able to redeem your shares by telephone, you should select this option on your application. Doing so when you open your account means that you will not need to complete additional paperwork later.

Send the completed Shareholder Account Application and payment to the Eventide Funds to the following address:

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| | |
|:---|:---|
| **<br> Regular Mail**<br> **Eventide Funds**<br> c/o Ultimus Fund Solutions, LLC<br> P.O. Box 46707<br> Cincinnati, OH 45246 | **<br> Express/Overnight Mail**<br> **Eventide Funds**<br> c/o Ultimus Fund Solutions, LLC<br> 225 Pictoria Dr, Suite 450<br> Cincinnati, OH 45246 |

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All purchases must be made in U.S. dollars and checks must be drawn on U.S. banks. Payment for purchases made online may only be made through an ACH (Automated Clearing House) debit of your bank account. Only bank accounts held at domestic financial institutions that are ACH members can be used for transactions with the Funds. ACH payments will not be accepted for initial purchases except those made online. Cash equivalents, for example, cash, cashier's checks, bank official checks, certified checks, bank money orders, third party checks (except for properly endorsed IRA transfer and rollover checks), counter checks, starter checks, traveler's checks, money orders, credit card checks, and checks drawn on non-U.S. financial institutions will generally not be accepted. Redemptions of shares of the Fund purchased by check may be subject to a hold period until the check has been cleared by the issuing bank. To avoid such holding periods, shares may be purchased through a broker or by wire, as described in this section. A $20 fee will be charged against your account for any payment check returned to the transfer agent or for any incomplete electronic funds transfer, or for insufficient funds, stop payment, closed account or other reasons. If a check does not clear your bank or a Fund is unable to debit your predesignated bank account on the day

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| | |
|:---|:---|
| **EVENTIDE** | **121** |
| **EVENTIDE** | **121** |

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| | |
|:---|:---|
| **P r o s p e c t u s**  | **N o v e m b e r 1, 2 0 2 5** |

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of purchase, the Fund reserves the right to cancel the purchase. If your purchase is canceled, you will be responsible for any losses or fees imposed by your bank and losses that may be incurred as a result of a decline in the value of the canceled purchase. Your investment in a Fund should be intended to serve as a long-term investment vehicle. The Funds are not designed to provide you with a means of speculating on the short-term fluctuations in the stock market. Each Fund reserves the right to reject any purchase request that it regards as disruptive to the efficient management of the Fund, which includes investors with a history of excessive trading. Each Fund also reserves the right to stop offering shares at any time.

If you choose to pay by wire, you must call the Funds' transfer agent, at 877-771-3836 to obtain instructions on how to set up your account and to obtain an account number and wire instructions.

Wire orders will be accepted only on a day on which the Funds' custodian and transfer agent are open for business. A wire purchase will not be considered made until the wired money and purchase order are received by the Fund. Any delays that may occur in wiring money, including delays that may occur in processing by the banks, are not the responsibility of the Fund or the transfer agent. The Funds presently do not charge a fee for the receipt of wired funds, but the Funds may charge shareholders for this service in the future.

To help the government fight the funding of terrorism and money laundering activities, federal law requires all financial institutions to obtain, verify, and record information that identifies each person who opens an account. This means that when you open an account, we will ask for your name, address, date of birth, and other information that will allow us to identify you. We may also ask for other identifying documents or information and may take additional steps to verify your identity. We may not be able to open your account or complete a transaction for you until we are able to verify your identity.

Minimum Purchase Amount

The minimum initial investment in Class A, Class C and Class N shares of the Funds, as well as Class I shares purchased directly from the Fund, is $1,000 for a regular account, $1,000 for an IRA account, or $100 for an automatic investment plan account. The minimum initial investment in Class I shares that are purchased through a financial intermediary is $100,000 for all accounts. Each Fund reserves the right to change the amount of these minimums from time to time or to waive them in whole or in part for certain accounts. Investment minimums may be higher or lower for investors purchasing shares through a brokerage firm or other financial institution. To the extent investments of individual investors are aggregated into an omnibus account established by an investment adviser, broker or other intermediary, the account minimums apply to the omnibus account, not to the account of the individual investor.

Automatic Investment Plan

You may open an automatic investment plan account with a $100 initial purchase and at least $100 investments made on specified days each month. If you have an existing account that does not include the automatic investment plan, you can contact the Funds' transfer agent to establish an automatic investment plan. The automatic investment plan provides a convenient method to have monies deducted directly from your bank account for investment in the Funds. You may authorize the automatic withdrawal of funds from your bank account for a minimum amount of $100. The Funds may alter, modify or terminate this plan at any time. To begin participating in this plan, please complete the Automatic Investment Plan Section found on the Shareholder Account Application or contact the Funds at 877-771-3836.

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|:---|:---|
| **EVENTIDE** | **122** |
| **EVENTIDE** | **122** |

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|:---|:---|
| **P r o s p e c t u s**  | **N o v e m b e r 1, 2 0 2 5** |

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Additional Investments

You may purchase additional shares of a Fund by check, wire or ACH debit of your bank account of record. Payment for shares purchased online may be made only through an ACH debit of your bank account of record. Your bank wire should be sent as outlined above. You also may purchase Fund shares by making automatic periodic investments from your bank account. To use this feature, select the automatic investment option in the account application and provide the necessary information about the bank account from which your investments will be made. You may revoke your election to make automatic investments by calling 877-771-3836 or by writing to the Funds at:

&nbsp;&nbsp;**<br> Eventide Funds**<br> c/o Ultimus Fund Solutions, LLC<br> P.O. Box 46707<br> Cincinnati, OH 45246<br>

Other Purchase Information

The Funds may limit the amount of purchases and refuse to sell to any person. If your electronic funds transfer is incomplete, payment is not completed due to insufficient funds, stop payment, closed account, a check does not clear your bank, or a Fund is unable to debit your predesignated bank account, you will be responsible for any loss incurred by the Fund. If you are already a shareholder, a Fund can, with notice, redeem shares from any identically registered account in the Fund as reimbursement for any loss incurred. You may be prohibited or restricted from making future purchases in the Funds.

Each Fund has authorized certain broker-dealers and other financial institutions (including their designated intermediaries) to accept on its behalf purchase and sell orders. These broker-dealers and financial institutions may charge a fee for their services. The Funds are deemed to have received an order when the authorized person or designee receives the order, and the order is processed at the NAV next calculated thereafter. It is the responsibility of the broker-dealer or other financial institution to transmit orders promptly to the Funds' transfer agent.

You must contact the Fund in writing regarding any errors or discrepancies within 60 days after the date of the statement confirming a transaction. The Fund may deny your ability to refute a transaction if it does not hear from you within 60 days after the confirmation statement date.

Market Timing

The Funds discourage market timing. Market timing is an investment strategy using frequent purchases, redemptions and/or exchanges in an attempt to profit from short term market movements. To the extent that the Funds significantly invest in small or mid-capitalization equity securities or derivative investments, because these securities are often infrequently traded, investors may seek to trade Fund shares in an effort to benefit from their understanding of the value of these securities (referred to as price arbitrage). Market timing may result in dilution of the value of Fund shares held by long term shareholders, disrupt portfolio management and increase Fund expenses for all shareholders. The Board of Trustees has adopted a policy directing the Funds to reject any purchase order with respect to one investor, a related group of investors or their agent(s), where it detects a pattern of purchases and sales of the Fund that indicates market timing or trading that it determines is abusive. This policy applies uniformly to all Fund shareholders. While the Funds attempt to deter market timing, there is no assurance that they will be able

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|:---|:---|
| **EVENTIDE** | **123** |
| **EVENTIDE** | **123** |

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|:---|:---|
| **P r o s p e c t u s**  | **N o v e m b e r 1, 2 0 2 5** |

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to identify and eliminate all market timers. For example, certain accounts called "omnibus accounts" include multiple shareholders. Omnibus accounts typically provide the Funds with a net purchase or redemption request on any given day where purchasers of Fund shares and redeemers of Fund shares are netted against one another and the identities of individual purchasers and redeemers whose orders are aggregated are not known by the Funds. The netting effect often makes it more difficult for the Funds to detect market timing, and there can be no assurance that the Funds will be able to do so.

Additional Payments to Financial Intermediaries

The Adviser and/or its affiliates may pay out of their own profits and reasonable resources amounts (including items of material value) to certain financial intermediaries that support the sale of shares or provide services to Fund shareholders. The amounts of these payments could be significant and may create an incentive for the financial intermediaries or their employees or associated persons to recommend or sell shares of a Fund to you. These payments are not reflected in the fees and expenses listed in the fee table section of the Prospectus because they are not paid by the Fund.

These payments are negotiated and may be based on such factors as the number or value of shares that the financial intermediary sells or may sell; the value of client assets invested; or the type and nature of services or support furnished by the financial intermediary. These payments may be in addition to payments made by a Fund to the financial intermediary under a Rule 12b-1 Plan and/or shareholder service fees arrangement. You can ask your financial intermediary for information about any payments it receives from the Adviser, its affiliates, or the Fund and any services the financial intermediary provides. The SAI contains additional information on the types of additional payments that may be paid.

How to Redeem Shares

You may redeem your shares on any business day. Redemption orders received in proper order by the Funds' transfer agent or by a brokerage firm or other financial institution that sells Fund shares, authorized to accept redemption orders on a Fund's behalf, before 4:00 p.m. ET (or before the NYSE closes if the NYSE closes before 4:00 p.m. ET) will be effective at that day's NAV. If you purchased shares using a check and soon after request a redemption, your redemption proceeds, which are payable at the next determined NAV following the receipt your redemption request in "good order," as described below, will not be sent until the check used for your purchase has cleared your bank.

The Funds typically expect that it will take up to seven calendar days following the receipt of your redemption request by any method to pay out redemption proceeds by check or electronic transfer. If you own an IRA or other retirement plan, you must indicate on your redemption request whether the Fund should withhold federal income tax. Unless you elect in your redemption request that you do not want to have federal tax withheld, the redemption will be subject to withholding.

The Funds typically expect to pay redemptions from cash, cash equivalents, proceeds from the sale of Fund shares, any lines of credit, and then from the sale of portfolio securities. These redemption payment methods will be used in regular and stressed market conditions.

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| | |
|:---|:---|
| **EVENTIDE** | **124** |
| **EVENTIDE** | **124** |

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| | |
|:---|:---|
| **P r o s p e c t u s**  | **N o v e m b e r 1, 2 0 2 5** |

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Shares of the Funds may be redeemed by mail, telephone or online. You may receive redemption payments in the form of a check, federal wire transfer or ACH transfer to the address or bank account of record, subject to any applicable redemption fee. Only bank accounts held at domestic financial institutions that are ACH members can be used for transactions with the Funds. A wire transfer fee of $15 may be charged to defray custodial charges for redemptions paid by wire transfer. Any charges for wire redemptions will be deducted from your account by redemption of shares. If you redeem your shares through a broker-dealer or other institution, you may be charged a fee by that institution.

**By Mail.** You may redeem any part of your account in a Fund at no charge by mail. Your request, in good order, should be addressed to:

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| | |
|:---|:---|
| **<br> Regular Mail**<br> **Eventide Funds**<br> c/o Ultimus Fund Solutions, LLC<br> P.O. Box 46707<br> Cincinnati, OH 45246 | **<br> Express/Overnight Mail**<br> **Eventide Funds**<br> c/o Ultimus Fund Solutions, LLC<br> 225 Pictoria Dr, Suite 450<br> Cincinnati, OH 45246 |

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&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**Good Order** means your request for redemption must include:<br>■ the name of the Fund and the account number<br>■ the exact dollar amount or number of shares to be redeemed<br>■ the name(s) of the registered account owner(s), exactly as they appear on the account<br>■ signature(s) of all registered owner(s)<br>■ any required signature guarantee or medallion signature guarantee, if applicable<br>■ any documentation reasonably required by the Fund or its transfer agent to verify the identity or authority of the person(s) requesting the redemption<br>Redemption requests that are incomplete, unclear, unsigned, or submitted without the required documentation or signature guarantees may be delayed or rejected. The Fund and its transfer agent are not responsible for processing delays or losses resulting from requests not received in good order.<br>

The Funds may require that the signatures be guaranteed. A medallion signature guarantee assures that a signature is genuine and protects you from unauthorized transfers. You may need your signature guaranteed if:

&nbsp;&nbsp;&nbsp;&nbsp;■ you
request the redemption check be mailed to an address other than the address of record;

&nbsp;&nbsp;&nbsp;&nbsp;■ if
you request the redemption check be mailed to a mailing address that has been changed within 30 days of the redemption request;

&nbsp;&nbsp;&nbsp;&nbsp;■ if
you request that the redemption be sent electronically to a bank account other than bank account on record;

&nbsp;&nbsp;&nbsp;&nbsp;■ if
the redemption request is in the amount of $100,000 or more; or

&nbsp;&nbsp;&nbsp;&nbsp;■ in
other circumstances such as to prevent an unauthorized account transfer or redemption.

You can obtain a signature guarantee from most banks and securities dealers, but not from a notary public. For joint accounts, both signatures must be guaranteed. Please call the transfer agent at 877-771-3836 if you have questions. At the discretion of the Funds, you may be required to furnish additional legal documents to insure proper authorization. The Funds will not make checks payable to anyone other than the shareholder of record.

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| | |
|:---|:---|
| **EVENTIDE** | **125** |
| **EVENTIDE** | **125** |

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| | |
|:---|:---|
| **P r o s p e c t u s**  | **N o v e m b e r 1, 2 0 2 5** |

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**By Telephone.** The telephone redemption privilege is automatically available to all new accounts. If you do not want the telephone redemption privilege, you must indicate this in the appropriate area on your account application or you must write to the Funds and instruct it to remove this privilege from your account. If you own an IRA, you will be asked whether or not the Fund(s) should withhold federal income tax.

The proceeds will be sent by mail to the address designated on your account or wired directly to your existing account in a bank or brokerage firm in the United States as designated on your application. To redeem by telephone, call 877-771-3836. The redemption proceeds normally will be sent by mail or by wire within three business days after receipt of your telephone instructions. You may redeem shares up to $100,000.

During periods of high market activity, you may encounter higher than usual wait times. Please allow sufficient time to ensure that you will be able to complete your telephone transaction prior to market close. Neither the Fund nor its Transfer Agent will be held liable if you are unable to place your trade due to high call volume.

The Funds reserve the right to suspend the telephone redemption privileges with respect to your account if the name(s), the address, or bank account information was changed within the previous 30 days. Neither the Funds, the Transfer Agent, nor their respective affiliates will be liable for complying with telephone instructions they reasonably believe to be genuine or for any such loss. The Funds or the transfer agent, or both, will employ reasonable procedures to determine that telephone instructions are genuine. The Funds or the transfer agent do not employ these procedures, they may be liable to you for losses due to unauthorized or fraudulent instructions. These procedures may include, among others, requiring forms of personal identification prior to acting upon telephone instructions, providing written confirmation of the transactions and/or recording telephone.

**Redemption Fee.** The Funds do not charge a redemption fee. However, a shareholder of a Fund who requests that the proceeds of a redemption be sent by wire will be charged a $15 wire fee. Each Fund reserves the right to impose a redemption fee at any time. If there is a material change to a Fund's redemption fee policy, the Fund will notify you at least 60 days prior to the effective date of the change.

**Systematic Withdrawal Plan.** You may participate in the Funds' Systematic Withdrawal Plan, an investment plan that automatically moves money to your bank account from a Fund through the use of electronic funds transfers.

**Redemptions in Kind.** Each Fund reserves the right to honor requests for redemption or repurchase orders by making payment in whole or in part in readily marketable securities ("redemption in-kind") if the amount is greater than the lesser of $250,000 or 1% of the Fund's assets. The securities will be chosen by the Fund and valued under the Fund's net asset value procedures. A shareholder will be exposed to market risk until these securities are converted to cash and may incur transaction expenses in converting these securities to cash.

**Additional Information.** If you are not certain of the requirements for redemption please call the transfer agent at 877-771-3836. Redemptions specifying a certain date or share price cannot be accepted and will be returned. You may be assessed a fee if a Fund incurs bank charges because you request that the Fund re-issue a redemption check. Also, when the NYSE is closed (or when trading is restricted) for any reason other than its customary weekend or holiday closing or under any emergency circumstances, as determined by the SEC, the Funds may suspend redemptions or postpone payment dates.

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| | |
|:---|:---|
| **EVENTIDE** | **126** |
| **EVENTIDE** | **126** |

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| | |
|:---|:---|
| **P r o s p e c t u s**  | **N o v e m b e r 1, 2 0 2 5** |

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Because the Funds incur certain fixed costs in maintaining shareholder accounts, a Fund may require you to redeem all of your shares in the Fund on 30 days written notice if the value of your shares in the Fund is less than $1,000 due to redemption, or such other minimum amount as the Fund may determine from time to time. You may increase the value of your shares in the Fund to the minimum amount within the 30-day period. All shares of a Fund are also subject to involuntary redemption if the Board determines to liquidate the Fund. An involuntary redemption will create a capital gain or a capital loss, which may have tax consequences about which you should consult your tax adviser.

An account may be turned over as unclaimed property to the investor's last known state of tax residence if the account is deemed "inactive" or "lost" during the time frame specified within the applicable state's unclaimed property laws. Investors who are residents of the state of Texas may designate a representative to receive legislatively required unclaimed property due diligence notifications. A Texas Designation of Representative Form is available for making such an election.

You must contact the Fund in writing regarding any errors or discrepancies within 60 days after the date of the statement confirming a transaction. The Fund may deny your ability to refute a transaction if it does not hear from you within 60 days after the confirmation statement date.

If you elect to receive your dividend and capital gain distributions via check, ACH or wire, and the distribution amount is $50 or less, then the amount will be automatically reinvested as additional shares into your account. For non-retirement and non-educational accounts, any dividend and capital gain distributions sent by check which are not cashed within 180 days will be reinvested into your account at the current day's NAV. When reinvested, those amounts are subject to market risk like any other investment. Your distribution option will automatically be converted to having all dividends and capital gain distributions reinvested into your account as additional shares if any of the following occur:

● Postal or other delivery service is unable to deliver mail or checks to the address of record thereby designating your account as "lost"

● Dividends and capital gain distributions checks are not cashed within 180 days; or

● Bank account of record is no longer valid

For non-retirement and non-educational accounts, redemption proceeds sent by check which are not cashed within 180 days will be reinvested into your account at the current day's NAV. When reinvested, redemption proceeds are subject to market risk like any other investment.

Online Transactions

To establish online transaction privileges, you must enroll through the website at www.eventidefunds.com. You automatically have the ability to establish online transaction privileges unless you decline the privileges on your Shareholder Account Application or IRA Application. You will be required to enter into a user's agreement through the website in order to enroll in these privileges. To purchase shares online, you must also have ACH instructions on your account. Redemption proceeds may be sent to you by check to the address or record, or if your account has existing bank information, by wire or ACH. Only bank accounts held at domestic financial institutions that are ACH members can be used for transactions through the Funds' website. Transactions through the website are subject to the same minimums and maximums as other transaction methods. Online transactions are subject to the same

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| | |
|:---|:---|
| **EVENTIDE** | **127** |
| **EVENTIDE** | **127** |

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| | |
|:---|:---|
| **P r o s p e c t u s**  | **N o v e m b e r 1, 2 0 2 5** |

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purchase minimums and maximums as other purchase methods. However, the maximum online redemption amount is $100,000.

You should be aware that the internet is an unsecured, unstable, unregulated and unpredictable environment. Your ability to perform online transactions is dependent upon the internet and equipment, software, systems, data and services provided by various vendors and third parties. While the Funds and their service providers have established certain security procedures, the Funds, their distributor and their transfer agent cannot assure you that trading information will be completely secure. There may also be delays, malfunctions, or other inconveniences generally associated with this medium. There also may be times when the website is unavailable for Fund transactions or other purposes. Should this happen, you should consider purchasing or redeeming shares by another method. Neither the Funds nor their transfer agent, distributor, or Adviser will be liable for any such delays or malfunctions or unauthorized interception or access to communications or account information.

Exchange Privilege

You may exchange shares of a particular class of a Fund only for shares of the same class of another fund in the Eventide family of funds, provided the account registration information of the other Fund is the same. For example, you can exchange Class A shares of the Healthcare & Life Sciences Fund for Class A shares of the Gilead Fund. Shares of the Fund selected for exchange must be available for sale in your state of residence. You must meet the minimum purchase requirements for the fund you purchase by exchange. For tax purposes, exchanges of shares involve a sale of shares of the Fund you own and a purchase of the shares of the other Fund, which may result in a capital gain or loss. In order to exchange shares of a Fund on a particular day, the Fund or its designated agent must receive your request before the close of regular trading on the NYSE (normally 4:00 p.m. Eastern Time) that day. Exchanges are made at the NAV determined after the order is considered received. You will not be charged the upfront sales charge or the CDSC on exchanges of Class A shares.

Converting Shares

Shareholders of a Fund may elect on a voluntary basis to convert their shares in one class of the Fund into shares of a different class of the Fund, subject to satisfying the eligibility requirements for investment in the new share class.

Shares held through a financial intermediary offering different programs and fee structures that has an agreement with the Adviser or the Fund's distributor may be converted by the financial intermediary, without notice, to another share class of the Fund, including share classes with a higher expense ratio than the original share class, if such conversion is consistent with the fee-based or wrap fee program's policies.

An investor may directly, or through his or her financial intermediary, contact a Fund to request a voluntary conversion between share classes of the Fund as described above. You may be required to provide sufficient information to establish eligibility to convert to the new share class.

Class C shares convert automatically to Class A shares after eight years (unless otherwise provided by your financial intermediary), provided that the financial intermediary through which you purchased Class C shares has records verifying that the Class C shares have been held for at least eight years. Under the Funds' Plan related to Class A shares, each Fund may pay an annual fee of up to 0.50% of the average daily net assets of its Class A shares (the "Class A 12b-1 Fee") for shareholder services and distribution related expenses (Class C shares presently pay a 1.00% 12b-1 fee). Each Fund is currently paying a Class A 12b-1 Fee of 0.25% of its average daily net assets. If authorized by

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| | |
|:---|:---|
| **EVENTIDE** | **128** |
| **EVENTIDE** | **128** |

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| | |
|:---|:---|
| **P r o s p e c t u s**  | **N o v e m b e r 1, 2 0 2 5** |

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the Board and upon notice to the shareholders, a Fund may increase the percentage paid under the 12b-1 Plan up to the Class A 12b-1 Fee amount. Because these fees are paid out of each Fund's assets on an on-going basis, over time these fees will increase the cost of your investment and may cost you more than paying other types of sales charges. You should consult your financial intermediary for more information about eligibility for Class C share conversion. All permissible conversions will be made on the basis of the relevant NAVs of the two classes without the imposition of any front-end sales load. A share conversion within a Fund will not result in a capital gain or loss for federal income tax purposes. The Funds may change, suspend or terminate these conversion features at any time.

Valuing Each Fund's Assets

Each Fund's assets are generally valued at their market value. If market prices are not available or, in the Adviser's opinion, market prices do not reflect fair value, or if an event occurs after the close of trading on the domestic or foreign exchange or market on which the security is principally traded (but prior to the time the NAV is calculated) that materially affects fair value, the Adviser, as the Funds' valuation designee, will value the Funds' assets at their fair value according to policies approved by the Board. For example, if trading in a portfolio security is halted and does not resume before a Fund calculates its NAV, the Adviser may need to price the security using the Fund's fair value pricing guidelines. In these cases, the Fund's NAV will reflect certain portfolio securities' fair value rather than at a readily observable market price. Fair value pricing involves subjective judgments and it is possible that the fair value determined for a security is materially different than the value that could be realized upon the sale of that security. The fair value prices can differ from market prices when they become available or when a price becomes available. Without a fair value price, short term traders could take advantage of the arbitrage opportunity and dilute the NAV of long-term investors. Securities trading on overseas markets present time zone arbitrage opportunities when events effecting portfolio security values occur after the close of the overseas market, bur prior to the close of the U.S. market. Fair valuation of a Fund's securities can serve to reduce arbitrage opportunities available to short term traders, but there is no assurance that fair value pricing policies will prevent dilution of the Fund's NAV by short term traders. The Funds may use pricing services to determine market value. The NAV for the Funds investing in other investment companies is calculated based upon the NAV of the underlying mutual funds in its portfolio, and the prospectuses of those companies explain the circumstances under which they will use fair value pricing and the effects of using fair value pricing. Because the Funds may invest in securities primarily listed on foreign exchanges, and these exchanges may trade on weekends or other days when a Fund does not price its shares, the value of some of the Funds' portfolio securities may change on days when you may not be able to buy or sell Fund shares.

Many private companies are not required to file periodic financial reports, leading to challenges in the Adviser's ability to evaluate a company's business prospects and assign a fair value to its securities. The fair valued prices assigned to the Funds' investments in private companies are based on a variety of factors, reviewed regularly, and updated as additional information becomes available. As noted above, fair value pricing includes subjective judgments and it is possible that the fair value assigned to a security may differ materially from the value the Fund would realize if the security were sold.

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|:---|:---|
| **EVENTIDE** | **129** |
| **EVENTIDE** | **129** |

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|:---|:---|
| **P r o s p e c t u s**  | **N o v e m b e r 1, 2 0 2 5** |

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Dividends, Distributions, & Taxes

Dividends and Distributions

Each Fund typically distributes substantially all of its net investment income in the form of dividends, interest and taxable capital gains to its shareholders. These distributions are automatically reinvested in the Fund unless you request cash distributions on your application or through a written request to the Fund. Each Fund expects that its distributions will consist of both capital gains, interest and dividend income. Each Fund may make distributions of its net realized capital gains (after any reductions for capital loss carry forwards) annually except for the Balanced Fund and Limited-Term Bond Fund, which are monthly, and the Dividend Growth Fund and Core Bond Fund, which are quarterly.

Please refer to the sections heading "Additional Information About the Fund's Principal Investment Strategies and Related Risks – Principal Investment Strategies –Distribution Policy and Goals (Balanced Fund & Dividend Growth Fund Only) and "Additional Information About the Fund's Principal Investment Strategies and Related Risks – Principal Investment Risks" for a detailed description of the Balanced Fund and Dividend Growth Fund's distribution policy and tax consequences.

**Taxes**

In general, selling shares of the Funds and receiving distributions (whether reinvested or taken in cash) are taxable events. Depending on the purchase price and the sale price, you may have a gain or a loss on any shares sold. Any tax liabilities generated by your transactions or by receiving distributions are your responsibility. You may want to avoid making a substantial investment when a Fund is about to make a taxable distribution because you would be responsible for any taxes on the distribution regardless of how long you have owned your shares. A Fund may produce capital gains even if it does not have income to distribute and performance has been poor.

Early each year, the Funds will mail to you a statement setting forth the federal income tax information for all distributions made during the previous year. If you do not provide your taxpayer identification number, your account will be subject to backup withholding.

The Funds must report to the IRS and furnish to shareholders the cost basis information for shares purchased and sold. The Funds use average cost as its standing (default) tax lot identification method for all shareholders, which means this method is used to determine which specific shares are deemed to be sold when there are multiple purchases on different dates at differing NAVs, and the entire position is not sold at one time. Shareholders may, however, choose a method other than a Fund's standing method at the time of their purchase or upon sale of covered shares. Shareholders should consult their tax advisors to determine the best IRS-accepted cost basis method for their tax situation and to obtain more information about how cost basis reporting applies to them. Shareholders also should carefully review the cost basis information provided to them by a Fund and make any additional basis, holding period or other adjustments that are required when reporting these amounts on their federal income tax returns.

The tax considerations described in this section do not apply to tax-deferred accounts or other non-taxable entities. Because each investor's tax circumstances are unique, please consult with your tax adviser about your investment.

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|:---|:---|
| **EVENTIDE** | **130** |
| **EVENTIDE** | **130** |

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|:---|:---|
| **P r o s p e c t u s**  | **N o v e m b e r 1, 2 0 2 5** |

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Advisory Services of the Funds

Adviser

Eventide Asset Management, LLC, a Delaware limited liability company located at One International Place, Suite 4210, Boston, Massachusetts 02110, serves as Adviser to each Fund. The Adviser was formed in April 2008 and provides a range of investment advisory services, including management of the Funds. Under the terms of the advisory agreement, the Adviser is responsible for formulating each Fund's investment policies, making ongoing investment decisions and engaging in portfolio transactions.

Sub-Adviser: Balanced Fund, Limited-Term Bond Fund and Core Bond Fund

Boyd Watterson Asset Management, LLC ("Boyd Watterson"), an Ohio limited liability company, headquartered at 1301 E. 9th Street, Suite 2900, Cleveland, Ohio 44114 serves as sub-adviser to all or a portion of the Balanced Fund, Limited-Term Bond Fund and Core Bond Fund's portfolios. Through its predecessor firms, Boyd Watterson has been in continuous business since 1928 and provides investment advisory services to individuals, pooled investment vehicles and profit and non-profit organizations. Subject to the oversight and approval of the Adviser, Boyd Watterson serves as sub-adviser to the aforementioned Funds and is primarily responsible for the day-to-day management of all or a portion of these Funds' assets. In addition, Boyd Watterson is responsible for maintaining certain transaction and compliance related records of these Funds.

As compensation for the sub-advisory services it provides to the applicable Funds and other mutual funds and investment products offered by the Adviser and sub-advised by Boyd Watterson (collectively, the "Sub-Advised Products"), the Adviser, and not these Funds, pays Boyd Watterson an annual fee of 0.15% of the first $100,000,000, 0.07% in excess of $100,000,000 up to $500,000,000; and 0.06% thereafter of the average daily net assets of each Sub-Advised Product in the aggregate.

Portfolio Managers

Dr. Finny Kuruvilla serves as Portfolio Manager of the Gilead Fund.

Dr. Finny Kuruvilla and Dr. I-hung Shih serve as Portfolio Managers of the Healthcare & Life Sciences Fund. Dr. Kuruvilla is the Lead Portfolio Manager of the Fund.

Dolores S. Bamford, CFA, is the Lead Portfolio Manager of the Balanced Fund. David M. Dirk, CFA serves as a portfolio manager for those assets of the Balanced Fund allocated to Boyd Watterson.

Dolores S. Bamford, CFA and Andrew Singer, CFA serve as Portfolio Managers of the Dividend Growth Fund. Ms. Bamford is the Lead Portfolio Manager of the Fund.

Christopher Grogan, CFA and David M. Dirk, CFA serve as Portfolio Managers of the Limited-Term Bond Fund.

Dr. Finny Kuruvilla and Darric White serve as Portfolio Managers of the Exponential Technologies Fund.

Christopher Grogan, CFA and David M. Dirk, CFA serve as Portfolio Managers of the Core Bond Fund.

Andrew Singer, CFA and Dolores S. Bamford, CFA, serve as Portfolio Managers of the Large Cap Focus Fund.

*Dolores S. Bamford (Balanced Fund, Dividend Growth Fund, and Large Cap Focus Fund)* 

Dolores S. Bamford, CFA, has served as a portfolio manager of the Adviser since 2019. Ms. Bamford has more than 25 years of experience in investment management, including as a portfolio manager and managing partner at Goldman

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|:---|:---|
| **EVENTIDE** | **131** |
| **EVENTIDE** | **131** |

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|:---|:---|
| **P r o s p e c t u s**  | **N o v e m b e r 1, 2 0 2 5** |

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Sachs (2002-2015), portfolio manager at Putnam Investments (1992-2002), and as a research analyst at Fidelity Investments (1988-1990). Ms. Bamford has a S.M. in Management from the MIT Sloan School of Management, a dual M.A. in Theology and Church History from Gordon Conwell Theological Seminary, and a B.A. in Economics from Wellesley College. She worked for almost 14 years at Goldman Sachs, managing U.S. Midcap Value and U.S. and Global Responsible Equity strategies. Ms. Bamford also has expertise in corporate sustainability and responsibility practices as well as in energy and industrials research and analysis. She focused on the Social Impact Investing field for her Doctor of Ministry work at Gordon-Conwell Theological Seminary (2015-2019).

*Christopher Grogan (Limited-Term Bond Fund and Core Bond Fund)*

Christopher Grogan, CFA, serves as the Portfolio Manager for the Eventide Limited-Term Bond Fund and the Eventide Core Bond Fund, and as the Adviser's Director of Investment Consulting. Mr. Grogan has over 10 years of investment experience. Prior to joining Eventide in 2019, Mr. Grogan was an Associate Portfolio Manager with Boston Advisors, LLC. In this role, he was tasked with conducting asset allocation strategy, equity portfolio management, fixed income portfolio management, open architecture due diligence, and building custom portfolio solutions using both internal and third-party strategies. Before that, he was a Financial Planning Analyst with Raymond James. Mr. Grogan has a dual B.A. in Economics and Finance from Gordon College. He holds the Chartered Financial Analyst designation and is a member of the CFA Society Boston and CFA Institute.

*David M. Dirk (Balanced Fund, Limited-Term Bond Fund and Core Bond Fund)* 

David M. Dirk, CFA, is Director of Portfolio Management and Trading at Boyd Watterson and has been responsible for directing the firm's Portfolio Management and Trading activity since 2011. This includes the implementation, execution and evaluation of all strategies across Boyd Watterson's suite of fixed income products. Mr. Dirk joined Duff & Phelps, predecessor to Boyd Watterson Asset Management, in 1996. David holds a CFA Charter from CFA Institute, an MBA from Case Western Reserve University, and a BA from Baldwin-Wallace University. He is also a member of the CFA Society of Cleveland and CFA Institute.

*Dr. Finny Kuruvilla (Gilead Fund, Healthcare & Life Sciences Fund and Exponential Technologies Fund)*

Finny Kuruvilla, M.D., Ph.D., has been primarily responsible for the day-to-day management of the Gilead Fund and Healthcare & Life Sciences Fund since inception. Dr. Kuruvilla has been primarily responsible for the day-to-day management of the Exponential Technologies Fund since July 2024. Dr. Kuruvilla has been the Managing Partner of the Adviser since its inception in 2008. Since November 2022, Dr. Kuruvilla has served as a Managing Director for Eventide Ventures®, the Adviser's private investing line of business.

Dr. Kuruvilla possesses a diverse background in quantitative methods, with applications focused on innovations in science, engineering, and medicine. He holds an MD from Harvard Medical School, a PhD in Chemistry and Chemical Biology from Harvard University, a master's degree in Electrical Engineering and Computer Science from MIT, and a bachelor's degree from Caltech in Chemistry. From 2005-2008, Dr. Kuruvilla was a clinical fellow at the Brigham and Women's Hospital and a postdoctoral scientist at MIT. As an avid proponent of faith-based investing, Dr. Kuruvilla has established rigorous standards in seeking out the most ethical companies at the outset of the stock selection process. In addition to his role with the Adviser, Dr. Kuruvilla is a founder, financial sponsor, and Board Director and Interim President of Sattler College, a four-year college in Boston, Massachusetts, opened in 2018. Dr. Kuruvilla also contributes to the college in a limited faculty role. From 2008-2016, Dr. Kuruvilla provided research services as an employee of Clarus Ventures, a healthcare and life sciences venture capital firm. From 2006-2008, Dr. Kuruvilla was a research fellow at the Broad Institute of Harvard and MIT.

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|:---|:---|
| **EVENTIDE** | **132** |
| **EVENTIDE** | **132** |

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|:---|:---|
| **P r o s p e c t u s**  | **N o v e m b e r 1, 2 0 2 5** |

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*Dr. I-hung Shih (Healthcare & Life Sciences Fund)*

I-hung Shih, PhD, Biochemistry, joined Eventide in July 2024 and has led Eventide's Healthcare team as Managing Director and Co-Portfolio Manager since September 2024 under the supervision of the Adviser's Co-Chief Investment Officers. Since September 1, 2024, Dr. Shih has served as a Managing Director for Eventide Ventures®, Eventide's private investing line of business.

Dr. Shih has over 20 years of professional experience. Before starting at Eventide she was Portfolio Manager and a Global Industry Analyst before being promoted as Co-Head of Wellington Biotech Private Investments at Wellington Management Company. Prior to her time at Wellington, Dr. Shih held investment management roles on teams at T.Rowe Price, Temasek International, and Credit Suisse. She began her career in research, working as a Research Fellow at the NIH and Whitehead Institute at MIT. Following those experiences, she joined Gilead Sciences where she started as a Research Scientist, and then worked as a Senior Manager in Commercial Strategy, before entering the investment management industry.

Dr. Shih holds a PhD in Biochemistry from Duke University. She also holds an MBA from The Wharton School at the University of Pennsylvania and a BS in Chemistry from the National Taiwan University.

*Andrew Singer (Dividend Growth Fund and Large Cap Focus Fund)*

Andrew Singer has served the Adviser as a Portfolio Manager since January 2022, an Associate Portfolio Manager since July 2020 and Senior Analyst since 2016. Prior to joining the Adviser, Mr. Singer was an Investment Analyst for Manulife (John Hancock) Asset Management from 2014 to 2016; Research Analyst for Cramer Rosenthal McGlynn from 2009-2013; Equity Analyst for BlackRock from 2006-2009; Equity Analyst for Evergreen Investments from 2004-2006; and Equity Research Associate for Credit Suisse First Boston from 1997-2002. He has a bachelor's degree in Quantitative Economics from Tufts University and an MBA from Babson College. He holds the Chartered Financial Analyst designation and is a member of the CFA Society Boston and CFA Institute.

*Darric White (Exponential Technologies Fund)*

Darric White serves as a Portfolio Manager and Senior Research Analyst for Eventide. Prior to joining Eventide in 2024, Mr. White was a Senior Research Analyst at JAT Capital from 2023 - 2024, primarily covering the software sector. Prior to that position, he was an Analyst at Shellback Capital from 2014 - 2022. Mr. White holds a B.A. in Political Science from Middlebury College.

The SAI provides additional information about each portfolio manager's compensation, other accounts managed and ownership of securities in the Funds.

Advisory Fees

Each Fund is authorized to pay the Adviser an annual fee based on its average daily net assets. The advisory fee is paid monthly. The Adviser has contractually agreed to waive fees and/or reimburse expenses, but only to the extent necessary to maintain each Fund's total annual operating expenses (excluding front-end or contingent deferred loads, leverage interest, brokerage commissions, expenses incurred in connection with any merger or reorganization, dividend expense on securities sold short, underlying fund fees and expenses or extraordinary expenses such as litigation) at a certain level through October 31, 2026. This agreement may only be terminated by the Board on 60 days' written notice to the Adviser and upon the termination of the advisory agreement between the Trust and the

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|:---|:---|
| **EVENTIDE** | **133** |
| **EVENTIDE** | **133** |

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|:---|:---|
| **P r o s p e c t u s**  | **N o v e m b e r 1, 2 0 2 5** |

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Adviser. Fee waivers and expense reimbursements are subject to possible recoupment by the Adviser from the Funds in future years on a rolling three-year basis (within the three years after the fees have been waived or reimbursed) if, after the recoupment is taken into account, such recoupment can be achieved within the lesser of the expense limitation in place at the time of waiver/reimbursement and the expense limitation in place at the time of recapture.

The following table describes (i) the contractual advisory fee, (ii) the advisory fees, after waivers, as a percentage of each Fund's average net assets, received by the Adviser for the Fund's most recent fiscal year, (iii) the expense limitation for each Fund and (iv) waivers or repayments to the Adviser during the Fund's most recent fiscal year or period of fees and expenses previously waived/reimbursed by the Adviser.

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| | | | |
|:---|:---|:---|:---|
|  | &nbsp;&nbsp;Contractual<br> Advisory Fee | &nbsp;&nbsp;Net Advisory Fee<br> Received | &nbsp;&nbsp;Expense Limitation |
| Gilead Fund | &nbsp;&nbsp;1.00% of the first $2 billion;<br>0.95% on the next $1 billion;<br>0.90% on the next $1 billion; and 0.85% thereafter | &nbsp;&nbsp;0.98% | &nbsp;&nbsp;Class A: 1.67%<br>Class C: 2.42%<br>Class N: 1.62%<br>Class I:&nbsp;&nbsp;&nbsp;&nbsp; 1.42% |
| Healthcare & Life Sciences Fund | &nbsp;&nbsp;1.10% | &nbsp;&nbsp;1.10% | &nbsp;&nbsp;Class A: 1.68%<br>Class C: 2.43%<br>Class N: 1.63%<br>Class I:&nbsp;&nbsp;&nbsp;&nbsp; 1.43% |
| Balanced Fund | &nbsp;&nbsp;0.60% | &nbsp;&nbsp;0.60% | &nbsp;&nbsp;Class A: 1.07%<br>Class C: 1.82%<br>Class N: 1.02%<br>Class I:&nbsp;&nbsp;&nbsp;&nbsp; 0.82% |
| Dividend Growth Fund | &nbsp;&nbsp;0.73% | &nbsp;&nbsp;0.74% | &nbsp;&nbsp;Class A: 1.20%<br>Class C: 1.95%<br>Class N: 1.15%<br>Class I:&nbsp;&nbsp;&nbsp;&nbsp; 0.95% |
| Limited-Term Bond Fund<sup>1</sup> | &nbsp;&nbsp;0.31% | &nbsp;&nbsp;0.26% | &nbsp;&nbsp;Class A: 0.70%<br>Class C: 1.45%<br>Class N: 0.65%<br>Class I:&nbsp;&nbsp;&nbsp;&nbsp;0.45% |
| Exponential Technologies Fund<sup>1,2</sup> | &nbsp;&nbsp;0.95% | &nbsp;&nbsp;1.00% | &nbsp;&nbsp;Class A: 1.60%<br>Class C: 2.35%<br>Class N: 1.55%<br>Class I:&nbsp;&nbsp;&nbsp;&nbsp;1.35% |
| Core Bond Fund<sup>1</sup> | &nbsp;&nbsp;0.34% | &nbsp;&nbsp;0.24% | &nbsp;&nbsp;Class A: 0.73%<br>Class C: 1.48%<br>Class N: 0.68%<br>Class I:&nbsp;&nbsp;&nbsp;&nbsp;0.48% |
| Large Cap Focus Fund | &nbsp;&nbsp;0.73% | &nbsp;&nbsp;0.54% | &nbsp;&nbsp;Class A: 1.19%<br>Class C: 1.94%<br>Class N: 1.14%<br>Class I:&nbsp;&nbsp;&nbsp;&nbsp; 0.94% |

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*1.* *Effective September 1, 2025, the expense limitations of the Limited-Term Bond Fund, Exponential Technologies Fund, and Core Bond Fund changed.* 

2. Effective
 September 1, 2025, the contractual advisory fee of the Exponential Technologies Fund changed
 from 1.10% to 0.95%.

The Adviser intends that a portion of its profits from managing the Funds will be contributed to charities and service organizations. The Adviser may pay certain financial institutions (which may include banks, brokers, securities dealers and other industry professionals) a fee for providing distribution related services to each Fund's shareholders to the extent these institutions are allowed to do so by applicable statute, rule or regulation. A discussion regarding the basis of the Board of Trustees' renewal of the advisory agreement with the Adviser on behalf of the Funds is available in the Funds' annual financial statements to shareholders for the fiscal year ended June 30, 2025. A discussion regarding the basis of the Board of Trustees' approval of the sub-advisory agreement between the Adviser and Boyd Watterson on behalf of the Balanced Fund, Limited-Term Bond Fund and Core Bond Fund is available in the Funds' annual financial statements for the semi-annual period ended December 31, 2024.

---

| | |
|:---|:---|
| **EVENTIDE** | **134** |
| **EVENTIDE** | **134** |

---

---

| | |
|:---|:---|
| **P r o s p e c t u s**  | **N o v e m b e r 1, 2 0 2 5** |

---

Financial Highlights

**EVENTIDE GILEAD FUND**

The following tables are intended to help you better understand the financial performance of the Fund's Class A, Class C, Class N and Class I shares for the last five fiscal years. Certain information reflects financial results for a single Fund share. Total return represents the rate you would have earned (or lost) on an investment in each Fund's Class A, Class C, Class N and Class I shares, assuming reinvestment of all dividends and distributions. The information for the fiscal years ended June 30, 2025, June 30, 2024 and June 30, 2023, has been audited by Cohen & Company, Ltd., the Fund's independent registered public accounting firm, whose report, along with the Fund's financial statements, is available upon request. The information for each fiscal period ended prior to June 30, 2023 has been audited by the Fund's former independent registered public accounting firm.

Per Share Data and Ratios for a Share of Beneficial Interest Outstanding Throughout Each of the Years Presented

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
|  | **Class N** | **Class N** | **Class N** | **Class N** | **Class N** |
|  | **Year Ended**<br>**June 30, 2025** | **Year Ended**<br>**June 30, 2024** | **Year Ended**<br>**June 30, 2023** | **Year Ended**<br>**June 30, 2022** | **Year Ended**<br>**June 30, 2021** |
| Net asset value, beginning of year | $48.15 | $48.25 | $44.10 | $69.91 | $47.16 |
| Activity from investment operations: |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;Net investment loss (1) | (0.46) | (0.38) | (0.27) | (0.53) | (0.51) |
| &nbsp;&nbsp;&nbsp;Net realized and unrealized gain (loss) on investments | 6.99 | 0.28 | 6.70 | (21.01) | 23.77 |
| Total from investment operations | 6.53 | (0.10) | 6.43 | (21.54) | 23.26 |
| Less distributions from: |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;Net realized gains | (0.64) |  | (2.28) | (4.27) | (0.51) |
| Total distributions | (0.64) |  | (2.28) | (4.27) | (0.51) |
| Net asset value, end of year | $54.04 | $48.15 | $48.25 | $44.10 | $69.91 |
| Total return (2) | 13.63% | (0.21)% (5) | 15.29% (5) | (32.65)% | 49.43% |
| Net assets, at end of year (000s) | $288736 | $427768 | $526825 | $529869 | $827811 |
| Ratio of net expenses to average net assets (3) | 1.38% | 1.36% | 1.38% | 1.31% | 1.31% |
| Ratio of net investment loss to average net assets (3)(4) | (0.91)% | (0.79)% | (0.59)% | (0.86)% | (0.85)% |
| Portfolio Turnover Rate | 60% | 36% | 34% | 27% | 19% |

---

(1) Per share amounts calculated using the average shares method.

(2) Total return in the above table is historical in nature and represents the rate that the investor would have earned or lost on an investment in the Fund assuming reinvestment of dividends and capital gain distributions, if any.

(3) The ratios of expenses to average net assets and net investment loss to average net assets do not reflect the expenses of the underlying investment companies in which the Fund invests.

(4) Recognition of net investment loss is affected by the timing and declaration of dividends by the underlying investment companies in which the Fund invests.

(5) Includes adjustments in accordance with accounting principles generally accepted in the United States of America and, consequently, the net asset values for financial reporting purposes and the returns based upon those net asset values may differ from the net asset values and returns for shareholder transactions.

---

| | |
|:---|:---|
| **EVENTIDE** | **135** |
| **EVENTIDE** | **135** |

---

---

| | |
|:---|:---|
| **P r o s p e c t u s**  | **N o v e m b e r 1, 2 0 2 5** |

---

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
|  | **Class A** | **Class A** | **Class A** | **Class A** | **Class A** |
|  | **Year Ended**<br>**June 30, 2025** | **Year Ended**<br>**June 30, 2024** | **Year Ended**<br>**June 30, 2023** | **Year Ended**<br>**June 30, 2022** | **Year Ended**<br>**June 30, 2021** |
| Net asset value, beginning of year | $47.80 | $47.94 | $43.83 | $69.53 | $46.92 |
| Activity from investment operations: |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;Net investment loss (1) | (0.48) | (0.41) | (0.29) | (0.55) | (0.54) |
| &nbsp;&nbsp;&nbsp;Net realized and unrealized gain (loss) on investments | 6.93 | 0.27 | 6.68 | (20.88) | 23.66 |
| Total from investment operations | 6.45 | (0.14) | 6.39 | (21.43) | 23.12 |
| Less distributions from: |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;Net realized gains | (0.64) |  | (2.28) | (4.27) | (0.51) |
| Total distributions | (0.64) |  | (2.28) | (4.27) | (0.51) |
| Net asset value, end of year | $53.61 | $47.80 | $47.94 | $43.83 | $69.53 |
| Total return (2) | 13.56% | (0.29)% (5) | 15.30% (5) | (32.67)% | 49.39% |
| Net assets, at end of year (000s) | $307538 | $320983 | $351924 | $302171 | $458726 |
| Ratio of net expenses to average net assets (3) | 1.43% | 1.41% | 1.43% | 1.36% | 1.36% |
| Ratio of net investment loss to average net assets (3)(4) | (0.96)% | (0.85)% | (0.65)% | (0.91)% | (0.91)% |
| Portfolio Turnover Rate | 60% | 36% | 34% | 27% | 19% |

---

(1) Per share amounts calculated using the average shares method.

(2) Total return in the above table is historical in nature and represents the rate that the investor would have earned or lost on an investment in the Fund assuming reinvestment of dividends and capital gain distributions, if any and does not reflect the impact of sales charges.

(3) The ratios of expenses to average net assets and net investment loss to average net assets do not reflect the expenses of the underlying investment companies in which the Fund invests.

(4) Recognition of net investment loss is affected by the timing and declaration of dividends by the underlying investment companies in which the Fund invests.

(5) Includes adjustments in accordance with accounting principles generally accepted in the United States of America and, consequently, the net asset values for financial reporting purposes and the returns based upon those net asset values may differ from the net asset values and returns for shareholder transactions.

---

| | |
|:---|:---|
| **EVENTIDE** | **136** |
| **EVENTIDE** | **136** |

---

---

| | |
|:---|:---|
| **P r o s p e c t u s**  | **N o v e m b e r 1, 2 0 2 5** |

---

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
|  | **Class C** | **Class C** | **Class C** | **Class C** | **Class C** |
|  | **Year Ended**<br>**June 30, 2025** | **Year Ended**<br>**June 30, 2024** | **Year Ended**<br>**June 30, 2023** | **Year Ended**<br>**June 30, 2022** | **Year Ended**<br>**June 30, 2021** |
| Net asset value, beginning of year | $41.71 | $42.13 | $39.09 | $62.97 | $42.86 |
| Activity from investment operations: |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;Net investment loss (1) | (0.74) | (0.67) | (0.55) | (0.91) | (0.89) |
| &nbsp;&nbsp;&nbsp;Net realized and unrealized gain (loss) on investments | 6.02 | 0.25 | 5.87 | (18.70) | 21.51 |
| Total from investment operations | 5.28 | (0.42) | 5.32 | (19.61) | 20.62 |
| Less distributions from: |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;Net realized gains | (0.64) |  | (2.28) | (4.27) | (0.51) |
| Total distributions | (0.64) |  | (2.28) | (4.27) | (0.51) |
| Net asset value, end of year | $46.35 | $41.71 | $42.13 | $39.09 | $62.97 |
| Total return (2) | 12.73% | (1.00)% (5) | 14.38% (5) | (33.21)% | 48.23% |
| Net assets, at end of year (000s) | $139105 | $166155 | $218201 | $235967 | $404272 |
| Ratio of net expenses to average net assets (3) | 2.18% | 2.16% | 2.18% | 2.11% | 2.11% |
| Ratio of net investment loss to average net assets (3)(4) | (1.71)% | (1.59)% | (1.40)% | (1.67)% | (1.65)% |
| Portfolio Turnover Rate | 60% | 36% | 34% | 27% | 19% |

---

(1) Per share amounts calculated using the average shares method.

(2) Total return in the above table is historical in nature and represents the rate that the investor would have earned or lost on an investment in the Fund assuming reinvestment of dividends and capital gain distributions, if any.

(3) The ratios of expenses to average net assets and net investment loss to average net assets do not reflect the expenses of the underlying investment companies in which the Fund invests.

(4) Recognition of net investment loss is affected by the timing and declaration of dividends by the underlying investment companies in which the Fund invests.

(5) Includes adjustments in accordance with accounting principles generally accepted in the United States of America and, consequently, the net asset values for financial reporting purposes and the returns based upon those net asset values may differ from the net asset values and returns for shareholder transactions.

---

| | |
|:---|:---|
| **EVENTIDE** | **137** |
| **EVENTIDE** | **137** |

---

---

| | |
|:---|:---|
| **P r o s p e c t u s**  | **N o v e m b e r 1, 2 0 2 5** |

---

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
|  | **Class I** | **Class I** | **Class I** | **Class I** | **Class I** |
|  | **Year Ended**<br>**June 30, 2025** | **Year Ended**<br>**June 30, 2024** | **Year Ended**<br>**June 30, 2023** | **Year Ended**<br>**June 30, 2022** | **Year Ended**<br>**June 30, 2021** |
| Net asset value, beginning of year | $49.80 | $49.82 | $45.36 | $71.65 | $48.22 |
| Activity from investment operations: |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;Net investment loss (1) | (0.37) | (0.30) | (0.19) | (0.41) | (0.40) |
| &nbsp;&nbsp;&nbsp;Net realized and unrealized gain (loss) on investments | 7.24 | 0.28 | 6.93 | (21.61) | 24.34 |
| Total from investment operations | 6.87 | (0.02) | 6.74 | (22.02) | 23.94 |
| Less distributions from: |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;Net realized gains | (0.64) |  | (2.28) | (4.27) | (0.51) |
| Total distributions | (0.64) |  | (2.28) | (4.27) | (0.51) |
| Net asset value, end of year | $56.03 | $49.80 | $49.82 | $45.36 | $71.65 |
| Total return (2) | 13.86% | (0.04)% (5) | 15.56% (5) | (32.52)% | 49.76% |
| Net assets, at end of year (000s) | $2054852 | $2434432 | $2663688 | $2408991 | $3522353 |
| Ratio of net expenses to average net assets (3) | 1.18% | 1.16% | 1.18% | 1.11% | 1.11% |
| Ratio of net investment loss to average net assets (3)(4) | (0.71)% | (0.60)% | (0.40)% | (0.66)% | (0.65)% |
| Portfolio Turnover Rate | 60% | 36% | 34% | 27% | 19% |

---

(1) Per share amounts calculated using the average shares method.

(2) Total return in the above table is historical in nature and represents the rate that the investor would have earned or lost on an investment in the Fund assuming reinvestment of dividends and capital gain distributions, if any.

(3) The ratios of expenses to average net assets and net investment loss to average net assets do not reflect the expenses of the underlying investment companies in which the Fund invests.

(4) Recognition of net investment loss is affected by the timing and declaration of dividends by the underlying investment companies in which the Fund invests.

(5) Includes adjustments in accordance with accounting principles generally accepted in the United States of America and, consequently, the net asset values for financial reporting purposes and the returns based upon those net asset values may differ from the net asset values and returns for shareholder transactions.

---

| | |
|:---|:---|
| **EVENTIDE** | **138** |
| **EVENTIDE** | **138** |

---

---

| | |
|:---|:---|
| **P r o s p e c t u s**  | **N o v e m b e r 1, 2 0 2 5** |

---

**EVENTIDE HEALTHCARE & LIFE SCIENCES FUND**

The following tables are intended to help you better understand the financial performance of the Fund's Class A, Class C, Class N and Class I shares for the last five fiscal years. Certain information reflects financial results for a single Fund share. Total return represents the rate you would have earned (or lost) on an investment in each Fund's Class A, Class C, Class N and Class I shares, assuming reinvestment of all dividends and distributions. The information for the fiscal years ended June 30, 2025, June 30, 2024 and June 30, 2023, has been audited by Cohen & Company, Ltd., the Fund's independent registered public accounting firm, whose report, along with the Fund's financial statements, is available upon request. The information for each fiscal period ended prior to June 30, 2023 has been audited by the Fund's former independent registered public accounting firm.

Per Share Data and Ratios for a Share of Beneficial Interest Outstanding Throughout Each of the Years Presented

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
|  | **Class N** | **Class N** | **Class N** | **Class N** | **Class N** |
|  | **Year Ended**<br>**June 30, 2025** | **Year Ended**<br>**June 30, 2024** | **Year Ended**<br>**June 30, 2023** | **Year Ended**<br>**June 30, 2022** | **Year Ended**<br>**June 30, 2021** |
| Net asset value, beginning of year | $33.30 | $36.63 | $26.52 | $46.19 | $43.33 |
| Activity from investment operations: |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;Net investment loss (1) | (0.44) | (0.42) | (0.37) | (0.57) | (0.72) |
| &nbsp;&nbsp;&nbsp;Net realized and unrealized gain (loss) on investments | 0.35 | (2.91) | 10.48 | (14.74) | 5.52 |
| Total from investment operations | (0.09) | (3.33) | 10.11 | (15.31) | 4.80 |
| Less distributions from: |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;Net investment income |  |  |  | (0.63) |  |
| &nbsp;&nbsp;&nbsp;Net realized gains |  |  |  | (3.73) | (1.94 |
| Total distributions |  |  |  | (4.36) | (1.94 |
| Paid-in-capital from redemption fees (1) |  |  |  |  | 0.00 |
| Net asset value, end of year | $33.21 | $33.30 | $36.63 | $26.52 | $46.19 |
| Total return (2) | (0.27)% | (9.09)% (6) | 38.12% (6) | (35.99)% (6) | 10.34 |
| Net assets, at end of year (000s) | $59748 | $93027 | $133006 | $115954 | $227441 |
| Ratio of net expenses to average net assets (3) | 1.51% | 1.52% | 1.50% | 1.50% | 1.48 |
| Ratio of net investment loss to average net assets (3)(4) | (1.31)% | (1.24)% | (1.14)% | (1.49)% | (1.47) |
| Portfolio Turnover Rate | 41% | 71% | 79% | 59% | 62 |

---

(1) Per share amounts calculated using the average shares method.

(2) Total return in the above table is historical in nature and represents the rate that the investor would have earned or lost on an investment in the Fund assuming reinvestment of dividends and capital gain distributions, if any.

(3) The ratios of expenses to average net assets and net investment loss to average net assets do not reflect the expenses of the underlying investment companies in which the Fund invests.

(4) Recognition of net investment loss is affected by the timing and declaration of dividends by the underlying investment companies in which the Fund invests.

(5) Amount represents less than $0.01 per share.

(6) Includes adjustments in accordance with accounting principles generally accepted in the United States of America and, consequently, the net asset values for financial reporting purposes and the returns based upon those net asset values may differ from the net asset values and returns for shareholder transactions.

---

| | |
|:---|:---|
| **EVENTIDE** | **139** |
| **EVENTIDE** | **139** |

---

---

| | |
|:---|:---|
| **P r o s p e c t u s**  | **N o v e m b e r 1, 2 0 2 5** |

---

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
|  | **Class A** | **Class A** | **Class A** | **Class A** | **Class A** |
|  | **Year Ended**<br>**June 30, 2025** | **Year Ended**<br>**June 30, 2024** | **Year Ended**<br>**June 30, 2023** | **Year Ended**<br>**June 30, 2022** | **Year Ended**<br>**June 30, 2021** |
| Net asset value, beginning of year | $33.04 | $36.37 | $26.34 | $45.91 | $43.10 |
| Activity from investment operations: |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;Net investment loss (1) | (0.45) | (0.44) | (0.38) | (0.58) | (0.74) |
| &nbsp;&nbsp;&nbsp;Net realized and unrealized gain (loss) on investments | 0.34 | (2.89) | 10.41 | (14.64) | 5.49 |
| Total from investment operations | (0.11) | (3.33) | 10.03 | (15.22) | 4.75 |
| Less distributions from: |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;Net investment income |  |  |  | (0.62) |  |
| &nbsp;&nbsp;&nbsp;Net realized gains |  |  |  | (3.73) | (1.94 |
| Total distributions |  |  |  | (4.35) | (1.94 |
| Paid-in-capital from redemption fees (1) |  |  |  |  | 0.00 |
| Net asset value, end of year | $32.93 | $33.04 | $36.37 | $26.34 | $45.91 |
| Total return (2) | (0.33)% | (9.16)% (6) | 38.08% (6) | (36.02)% (6) | 10.28 |
| Net assets, at end of year (000s) | $97510 | $122423 | $151885 | $114642 | $191709 |
| Ratio of net expenses to average net assets (3) | 1.56% | 1.57% | 1.55% | 1.55% | 1.53 |
| Ratio of net investment loss to average net assets (3)(4) | (1.35)% | (1.29)% | (1.19)% | (1.54)% | (1.52) |
| Portfolio Turnover Rate | 41% | 71% | 79% | 59% | 62 |

---

(1) Per share amounts calculated using the average shares method.

(2) Total return in the above table is historical in nature and represents the rate that the investor would have earned or lost on an investment in the Fund assuming reinvestment of dividends and capital gain distributions, if any and does not reflect the impact of sales charges.

(3) The ratios of expenses to average net assets and net investment loss to average net assets do not reflect the expenses of the underlying investment companies in which the Fund invests.

(4) Recognition of net investment loss is affected by the timing and declaration of dividends by the underlying investment companies in which the Fund invests.

(5) Amount represents less than $0.01 per share.

(6) Includes adjustments in accordance with accounting principles generally accepted in the United States of America and, consequently, the net asset values for financial reporting purposes and the returns based upon those net asset values may differ from the net asset values and returns for shareholder transactions.

---

| | |
|:---|:---|
| **EVENTIDE** | **140** |
| **EVENTIDE** | **140** |

---

---

| | |
|:---|:---|
| **P r o s p e c t u s**  | **N o v e m b e r 1, 2 0 2 5** |

---

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
|  | **Class C** | **Class C** | **Class C** | **Class C** | **Class C** |
|  | **Year Ended**<br>**June 30, 2025** | **Year Ended**<br>**June 30, 2024** | **Year Ended**<br>**June 30, 2023** | **Year Ended**<br>**June 30, 2022** | **Year Ended**<br>**June 30, 2021** |
| Net asset value, beginning of year | $30.11 | $33.39 | $24.37 | $42.78 | $40.56 |
| Activity from investment operations: |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;Net investment loss (1) | (0.64) | (0.63) | (0.57) | (0.80) | (1.04) |
| &nbsp;&nbsp;&nbsp;Net realized and unrealized gain (loss) on investments | 0.32 | (2.65) | 9.59 | (13.60) | 5.20 |
| Total from investment operations | (0.32) | (3.28) | 9.02 | (14.40) | 4.16 |
| Less distributions from: |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;Net investment income |  |  |  | (0.28) |  |
| &nbsp;&nbsp;&nbsp;Net realized gains |  |  |  | (3.73) | (1.94 |
| Total distributions |  |  |  | (4.01) | (1.94 |
| Paid-in-capital from redemption fees (1) |  |  |  |  | 0.00 |
| Net asset value, end of year | $29.79 | $30.11 | $33.39 | $24.37 | $42.78 |
| Total return (2) | (1.06)% | (9.82)% (6) | 37.01% (6) | (36.51)% (6) | 9.45 |
| Net assets, at end of year (000s) | $37460 | $55661 | $76849 | $66540 | $120351 |
| Ratio of net expenses to average net assets (3) | 2.31% | 2.32% | 2.30% | 2.30% | 2.28 |
| Ratio of net investment loss to average net assets (3)(4) | (2.10)% | (2.04)% | (1.94)% | (2.29)% | (2.27) |
| Portfolio Turnover Rate | 41% | 71% | 79% | 59% | 62 |

---

(1) Per share amounts calculated using the average shares method.

(2) Total return in the above table is historical in nature and represents the rate that the investor would have earned or lost on an investment in the Fund assuming reinvestment of dividends and capital gain distributions, if any.

(3) The ratios of expenses to average net assets and net investment loss to average net assets do not reflect the expenses of the underlying investment companies in which the Fund invests.

(4) Recognition of net investment loss is affected by the timing and declaration of dividends by the underlying investment companies in which the Fund invests.

(5) Amount represents less than $0.01 per share.

(6) Includes adjustments in accordance with accounting principles generally accepted in the United States of America and, consequently, the net asset values for financial reporting purposes and the returns based upon those net asset values may differ from the net asset values and returns for shareholder transactions.

---

| | |
|:---|:---|
| **EVENTIDE** | **141** |
| **EVENTIDE** | **141** |

---

---

| | |
|:---|:---|
| **P r o s p e c t u s**  | **N o v e m b e r 1, 2 0 2 5** |

---

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
|  | **Class I** | **Class I** | **Class I** | **Class I** | **Class I** |
|  | **Year Ended**<br>**June 30, 2025** | **Year Ended**<br>**June 30, 2024** | **Year Ended**<br>**June 30, 2023** | **Year Ended**<br>**June 30, 2022** | **Year Ended**<br>**June 30, 2021** |
| Net asset value, beginning of year | $34.09 | $37.45 | $27.05 | $47.04 | $44.02 |
| Activity from investment operations: |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;Net investment loss (1) | (0.38) | (0.37) | (0.31) | (0.49) | (0.64) |
| &nbsp;&nbsp;&nbsp;Net realized and unrealized gain (loss) on investments | 0.35 | (2.99) | 10.71 | (15.03) | 5.60 |
| Total from investment operations | (0.03) | (3.36) | 10.40 | (15.52) | 4.96 |
| Less distributions from: |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;Net investment income |  |  |  | (0.74) |  |
| &nbsp;&nbsp;&nbsp;Net realized gains |  |  |  | (3.73) | (1.94 |
| Total distributions |  |  |  | (4.47) | (1.94 |
| Paid-in-capital from redemption fees (1) |  |  |  |  | 0.00 |
| Net asset value, end of year | $34.06 | $34.09 | $37.45 | $27.05 | $47.04 |
| Total return (2) | (0.09)% | (8.97)% (6) | 38.45% (6) | (35.85)% (6) | 10.54 |
| Net assets, at end of year (000s) | $951152 | $1168805 | $1441422 | $1024430 | $1573091 |
| Ratio of net expenses to average net assets (3) | 1.31% | 1.32% | 1.30% | 1.30% | 1.28 |
| Ratio of net investment loss to average net assets (3)(4) | (1.10)% | (1.04)% | (0.94)% | (1.29)% | (1.28) |
| Portfolio Turnover Rate | 41% | 71% | 79% | 59% | 62 |

---

(1) Per share amounts calculated using the average shares method.

(2) Total return in the above table is historical in nature and represents the rate that the investor would have earned or lost on an investment in the Fund assuming reinvestment of dividends and capital gain distributions, if any.

(3) The ratios of expenses to average net assets and net investment loss to average net assets do not reflect the expenses of the underlying investment companies in which the Fund invests.

(4) Recognition of net investment loss is affected by the timing and declaration of dividends by the underlying investment companies in which the Fund invests.

(5) Amount represents less than $0.01 per share.

(6) Includes adjustments in accordance with accounting principles generally accepted in the United States of America and, consequently, the net asset values for financial reporting purposes and the returns based upon those net asset values may differ from the net asset values and returns for shareholder transactions.

---

| | |
|:---|:---|
| **EVENTIDE** | **142** |
| **EVENTIDE** | **142** |

---

---

| | |
|:---|:---|
| **P r o s p e c t u s**  | **N o v e m b e r 1, 2 0 2 5** |

---

**EVENTIDE Balanced Fund**

The following tables are intended to help you better understand the financial performance of the Fund's Class A, Class C, Class N and Class I shares for the last five years. Certain information reflects financial results for a single Fund share. Total return represents the rate you would have earned (or lost) on an investment in each Fund's Class A, Class C, Class N and Class I shares, assuming reinvestment of all dividends and distributions. The information for the fiscal years ended June 30, 2025, June 30, 2024 and June 30, 2023, has been audited by Cohen & Company, Ltd., the Fund's independent registered public accounting firm, whose report, along with the Fund's financial statements, is available upon request. The information for each fiscal period ended prior to June 30, 2023 has been audited by the Fund's former independent registered public accounting firm.

Per Share Data and Ratios for a Share of Beneficial Interest Outstanding Throughout Each of the Years Presented

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
|  | **Class N** | **Class N** | **Class N** | **Class N** | **Class N** |
|  | **Year Ended**<br>**June 30, 2025** | **Year Ended**<br>**June 30, 2024** | **Year Ended**<br>**June 30, 2023** | **Year Ended**<br>**June 30, 2022** | **Year Ended**<br>**June 30, 2021** |
| Net asset value, beginning of year | $13.78 | $12.44 | $12.12 | $14.21 | $11.38 |
| Activity from investment operations: |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;Net investment income (1) | 0.25 | 0.19 | 0.16 | 0.10 | 0.08 |
| &nbsp;&nbsp;&nbsp;Net realized and unrealized gain (loss) on investments | 0.89 | 1.35 | 0.47 | (1.35) | 2.95 |
| Total from investment operations | 1.14 | 1.54 | 0.63 | (1.25) | 3.03 |
| Less distributions from: |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;Net investment income | (0.26) | (0.20) | (0.15) | (0.21) | (0.18) |
| &nbsp;&nbsp;&nbsp;Net realized gains |  |  | (0.12) | (0.63) | (0.02) |
| &nbsp;&nbsp;&nbsp;Return of capital |  |  | (0.04) |  |  |
| Total distributions | (0.26) | (0.20) | (0.31) | (0.84) | (0.20) |
| Net asset value, end of year | $14.66 | $13.78 | $12.44 | $12.12 | $14.21 |
| Total return (2) | 8.34% | 12.52% | 5.35% | (9.58)% | 26.81% |
| Net assets, at end of year (000s) | $18547 | $22308 | $30618 | $34856 | $39947 |
| Ratio of gross expenses to average net assets |  |  |  |  |  |
| before expense reimbursement/recapture (3)(4) | 1.02% | 1.09% | 1.10% | 1.01% | 1.05% |
| Ratio of net expenses to average net assets after expense reimbursement/recapture (4) | 1.02% | 1.02% | 1.02% | 1.02% | 1.02% |
| Ratio of net investment income |  |  |  |  |  |
| to average net assets (4)(5) | 1.74% | 1.51% | 1.34% | 0.69% | 0.59% |
| Portfolio Turnover Rate | 55% | 43% | 48% | 66% | 73% |

---

(1) Per share amounts calculated using the average shares method.

(2) Total return in the above table is historical in nature and represents the rate that the investor would have earned or lost on an investment in the Fund assuming reinvestment of dividends and capital gain distributions, if any. Had the advisor not waived a portion of the Fund's expenses in certain periods, total returns would have been lower.

(3) Represents the ratio of expenses to average net assets absent fee waivers and/or expense reimbursements/recapture by the advisor.

(4) The ratios of expenses to average net assets and net investment income to average net assets do not reflect the expenses of the underlying investment companies in which the Fund invests.

(5) Recognition of net investment income is affected by the timing and declaration of dividends by the underlying investment companies in which the Fund invests.

---

| | |
|:---|:---|
| **EVENTIDE** | **143** |
| **EVENTIDE** | **143** |

---

---

| | |
|:---|:---|
| **P r o s p e c t u s**  | **N o v e m b e r 1, 2 0 2 5** |

---

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
|  | **Class A** | **Class A** | **Class A** | **Class A** | **Class A** |
|  | **Year Ended**<br>**June 30, 2025** | **Year Ended**<br>**June 30, 2024** | **Year Ended**<br>**June 30, 2023** | **Year Ended**<br>**June 30, 2022** | **Year Ended**<br>**June 30, 2021** |
| Net asset value, beginning of year | $13.81 | $12.46 | $12.14 | $14.22 | $11.38 |
| Activity from investment operations: |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;Net investment income (1) | 0.25 | 0.19 | 0.16 | 0.09 | 0.07 |
| &nbsp;&nbsp;&nbsp;Net realized and unrealized gain (loss) on investments | 0.88 | 1.36 | 0.47 | (1.33) | 2.96 |
| Total from investment operations | 1.13 | 1.55 | 0.63 | (1.24) | 3.03 |
| Less distributions from: |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;Net investment income | (0.25) | (0.20) | (0.15) | (0.21) | (0.17) |
| &nbsp;&nbsp;&nbsp;Net realized gains |  |  | (0.12) | (0.63) | (0.02) |
| &nbsp;&nbsp;&nbsp;Return of capital |  |  | (0.04) |  |  |
| Total distributions | (0.25) | (0.20) | (0.31) | (0.84) | (0.19) |
| Net asset value, end of year | $14.69 | $13.81 | $12.46 | $12.14 | $14.22 |
| Total return (2) | 8.27% | 12.53% (6) | 5.29% | (9.55)% | 26.84% |
| Net assets, at end of year (000s) | $37205 | $30175 | $25577 | $25744 | $23139 |
| Ratio of gross expenses to average net assets |  |  |  |  |  |
| before expense reimbursement/recapture (3)(4) | 1.07% | 1.14% | 1.15% | 1.06% | 1.10% |
| Ratio of net expenses to average net assets after expense reimbursement/recapture (4) | 1.07% | 1.07% | 1.07% | 1.07% | 1.07% |
| Ratio of net investment income |  |  |  |  |  |
| to average net assets (4)(5) | 1.72% | 1.47% | 1.32% | 0.65% | 0.55% |
| Portfolio Turnover Rate | 55% | 43% | 48% | 66% | 73% |

---

(1) Per share amounts calculated using the average shares method.

(2) Total return in the above table is historical in nature and represents the rate that the investor would have earned or lost on an investment in the Fund assuming reinvestment of dividends and capital gain distributions, if any and does not reflect the impact of sales charges. Had the advisor not waived a portion of the Fund's expenses in certain periods, total returns would have been lower.

(3) Represents the ratio of expenses to average net assets absent fee waivers and/or expense reimbursements/recapture by the advisor.

(4) The ratios of expenses to average net assets and net investment income to average net assets do not reflect the expenses of the underlying investment companies in which the Fund invests.

(5) Recognition of net investment income is affected by the timing and declaration of dividends by the underlying investment companies in which the Fund invests.

(6) Includes adjustments in accordance with accounting principles generally accepted in the United States of America and, consequently, the net asset values for financial reporting purposes and the returns based upon those net asset values may differ from the net asset values and returns for shareholder transactions.

---

| | |
|:---|:---|
| **EVENTIDE** | **144** |
| **EVENTIDE** | **144** |

---

---

| | |
|:---|:---|
| **P r o s p e c t u s**  | **N o v e m b e r 1, 2 0 2 5** |

---

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
|  | **Class C** | **Class C** | **Class C** | **Class C** | **Class C** |
|  | **Year Ended**<br>**June 30, 2025** | **Year Ended**<br>**June 30, 2024** | **Year Ended**<br>**June 30, 2023** | **Year Ended**<br>**June 30, 2022** | **Year Ended**<br>**June 30, 2021** |
| Net asset value, beginning of year | $13.70 | $12.38 | $12.06 | $14.15 | $11.34 |
| Activity from investment operations: |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;Net investment income (loss) (1) | 0.14 | 0.09 | 0.07 | (0.01) | (0.03) |
| &nbsp;&nbsp;&nbsp;Net realized and unrealized gain (loss) on investments | 0.89 | 1.34 | 0.47 | (1.35) | 2.95 |
| Total from investment operations | 1.03 | 1.43 | 0.54 | (1.36) | 2.92 |
| Less distributions from: |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;Net investment income | (0.15) | (0.11) | (0.06) | (0.10) | (0.09) |
| &nbsp;&nbsp;&nbsp;Net realized gains |  |  | (0.12) | (0.63) | (0.02) |
| &nbsp;&nbsp;&nbsp;Return of capital |  |  | (0.04) |  |  |
| Total distributions | (0.15) | (0.11) | (0.22) | (0.73) | (0.11) |
| Net asset value, end of year | $14.58 | $13.70 | $12.38 | $12.06 | $14.15 |
| Total return (2) | 7.52% | 11.58% | 4.54% | (10.33)% | 25.85% |
| Net assets, at end of year (000s) | $16869 | $16020 | $16181 | $18146 | $18883 |
| Ratio of gross expenses to average net assets |  |  |  |  |  |
| before expense reimbursement/recapture (3)(4) | 1.82% | 1.89% | 1.90% | 1.81% | 1.85% |
| Ratio of net expenses to average net assets after expense reimbursement/recapture (4) | 1.82% | 1.82% | 1.82% | 1.82% | 1.82% |
| Ratio of net investment income (loss) |  |  |  |  |  |
| to average net assets (4)(5) | 0.96% | 0.72% | 0.56% | (0.10)% | (0.21)% |
| Portfolio Turnover Rate | 55% | 43% | 48% | 66% | 73% |

---

(1) Per share amounts calculated using the average shares method.

(2) Total return in the above table is historical in nature and represents the rate that the investor would have earned or lost on an investment in the Fund assuming reinvestment of dividends and capital gain distributions, if any. Had the advisor not waived a portion of the Fund's expenses in certain periods, total returns would have been lower.

(3) Represents the ratio of expenses to average net assets absent fee waivers and/or expense reimbursements/recapture by the advisor.

(4) The ratios of expenses to average net assets and net investment income (loss) to average net assets do not reflect the expenses of the underlying investment companies in which the Fund invests.

(5) Recognition of net investment income (loss) is affected by the timing and declaration of dividends by the underlying investment companies in which the Fund invests.

---

| | |
|:---|:---|
| **EVENTIDE** | **145** |
| **EVENTIDE** | **145** |

---

---

| | |
|:---|:---|
| **P r o s p e c t u s**  | **N o v e m b e r 1, 2 0 2 5** |

---

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
|  | **Class I** | **Class I** | **Class I** | **Class I** | **Class I** |
|  | **Year Ended**<br>**June 30, 2025** | **Year Ended**<br>**June 30, 2024** | **Year Ended**<br>**June 30, 2023** | **Year Ended**<br>**June 30, 2022** | **Year Ended**<br>**June 30, 2021** |
| Net asset value, beginning of year | $13.78 | $12.44 | $12.12 | $14.22 | $11.38 |
| Activity from investment operations: |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;Net investment income (1) | 0.28 | 0.22 | 0.19 | 0.12 | 0.11 |
| &nbsp;&nbsp;&nbsp;Net realized and unrealized gain (loss) on investments | 0.89 | 1.35 | 0.47 | (1.35) | 2.95 |
| Total from investment operations | 1.17 | 1.57 | 0.66 | (1.23) | 3.06 |
| Less distributions from: |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;Net investment income | (0.29) | (0.23) | (0.18) | (0.24) | (0.20) |
| &nbsp;&nbsp;&nbsp;Net realized gains |  |  | (0.12) | (0.63) | (0.02) |
| &nbsp;&nbsp;&nbsp;Return of capital |  |  | (0.04) |  |  |
| Total distributions | (0.29) | (0.23) | (0.34) | (0.87) | (0.22) |
| Net asset value, end of year | $14.66 | $13.78 | $12.44 | $12.12 | $14.22 |
| Total return (2) | 8.55% | 12.75% | 5.57% | (9.46)% | 27.12% |
| Net assets, at end of year (000s) | $314422 | $311017 | $260688 | $269421 | $279142 |
| Ratio of gross expenses to average net assets before expense reimbursement/recapture (3)(4) | 0.82% | 0.89% | 0.90% | 0.81% | 0.85% |
| Ratio of net expenses to average net assets after expense reimbursement/recapture (4) | 0.82% | 0.82% | 0.82% | 0.82% | 0.82% |
| Ratio of net investment income to average net assets (4)(5) | 1.95% | 1.72% | 1.57% | 0.90% | 0.81% |
| Portfolio Turnover Rate | 55% | 43% | 48% | 66% | 73% |

---

(1) Per share amounts calculated using the average shares method.

(2) Total return in the above table is historical in nature and represents the rate that the investor would have earned or lost on an investment in the Fund assuming reinvestment of dividends and capital gain distributions, if any. Had the advisor not waived a portion of the Fund's expenses in certain periods, total returns would have been lower.

(3) Represents the ratio of expenses to average net assets absent fee waivers and/or expense reimbursements/recapture by the advisor.

(4) The ratios of expenses to average net assets and net investment income to average net assets do not reflect the expenses of the underlying investment companies in which the Fund invests.

(5) Recognition of net investment income is affected by the timing and declaration of dividends by the underlying investment companies in which the Fund invests.

---

| | |
|:---|:---|
| **EVENTIDE** | **146** |
| **EVENTIDE** | **146** |

---

---

| | |
|:---|:---|
| **P r o s p e c t u s**  | **N o v e m b e r 1, 2 0 2 5** |

---

**EVENTIDE DIVIDEND GROWTH FUND**

The following tables are intended to help you better understand the financial performance of the Fund's Class A, Class C, Class N and Class I shares for the last five fiscal years. Certain information reflects financial results for a single Fund share. Total return represents the rate you would have earned (or lost) on an investment in each Fund's Class A, Class C, Class N and Class I shares, assuming reinvestment of all dividends and distributions. The information for the fiscal years ended June 30, 2025, June 30, 2024 and June 30, 2023, has been audited by Cohen & Company, Ltd., the Fund's independent registered public accounting firm, whose report, along with the Fund's financial statements, is available upon request. The information for each fiscal period ended prior to June 30, 2023 has been audited by the Fund's former independent registered public accounting firm.

Per Share Data and Ratios for a Share of Beneficial Interest Outstanding Throughout Each of the Years Presented

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
|  | **Class N** | **Class N** | **Class N** | **Class N** | **Class N** |
|  | **Year Ended**<br>**June 30, 2025** | **Year Ended**<br>**June 30, 2024** | **Year Ended**<br>**June 30, 2023** | **Year Ended**<br>**June 30, 2022** | **Year Ended**<br>**June 30, 2021** |
| Net asset value, beginning of year | $17.72 | $14.65 | $13.43 | $15.86 | $10.88 |
| Activity from investment operations: |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;Net investment income (1) | 0.08 | 0.06 | 0.11 | 0.05 | 0.04 |
| &nbsp;&nbsp;&nbsp;Net realized and unrealized gain (loss) on investments | 1.70 | 3.07 | 1.31 | (2.01) | 5.08 |
| Total from investment operations | 1.78 | 3.13 | 1.42 | (1.96) | 5.12 |
| Less distributions from: |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;Net investment income | (0.09) | (0.06) | (0.10) | (0.18) | (0.14) |
| &nbsp;&nbsp;&nbsp;Net realized gains |  |  | (0.09) | (0.29) |  |
| &nbsp;&nbsp;&nbsp;Return of capital |  |  | (0.01) |  |  |
| Total distributions | (0.09) | (0.06) | (0.20) | (0.47) | (0.14) |
| Net asset value, end of year | $19.41 | $17.72 | $14.65 | $13.43 | $15.86 |
| Total return (2) | 10.08% | 21.40% | 10.66% | (12.90)% | 47.21% |
| Net assets, at end of year (000s) | $77293 | $87873 | $91912 | $74940 | $70566 |
| Ratio of gross expenses to average net assets before expense reimbursement/recapture (3)(4) | 1.14% | 1.16% | 1.23% | 1.14% | 1.19% |
| Ratio of net expenses to average net assets after expense reimbursement/recapture (4) | 1.15% | 1.15% | 1.15% | 1.15% | 1.15% |
| Ratio of net investment income to average net assets (4)(5) | 0.45% | 0.40% | 0.75% | 0.34% | 0.27% |
| Portfolio Turnover Rate | 58% | 38% | 50% | 50% | 35% |

---

(1) Per share amounts calculated using the average shares method.

(2) Total return in the above table is historical in nature and represents the rate that the investor would have earned or lost on an investment in the Fund assuming reinvestment of dividends and capital gain distributions, if any. Had the advisor not waived or recaptured a portion of the Fund's expenses in certain periods, total returns would have been lower/higher.

(3) Represents the ratio of expenses to average net assets absent fee waivers and/or expense reimbursements/recapture by the advisor.

(4) The ratios of expenses to average net assets and net investment income to average net assets do not reflect the expenses of the underlying investment companies in which the Fund invests.

(5) Recognition of net investment income is affected by the timing and declaration of dividends by the underlying investment companies in which the Fund invests.

---

| | |
|:---|:---|
| **EVENTIDE** | **147** |
| **EVENTIDE** | **147** |

---

---

| | |
|:---|:---|
| **P r o s p e c t u s**  | **N o v e m b e r 1, 2 0 2 5** |

---

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
|  | **Class A** | **Class A** | **Class A** | **Class A** | **Class A** |
|  | **Year Ended**<br>**June 30, 2025** | **Year Ended**<br>**June 30, 2024** | **Year Ended**<br>**June 30, 2023** | **Year Ended**<br>**June 30, 2022** | **Year Ended**<br>**June 30, 2021** |
| Net asset value, beginning of year | $17.73 | $14.66 | $13.43 | $15.85 | $10.87 |
| Activity from investment operations: |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;Net investment income (1) | 0.07 | 0.05 | 0.10 | 0.05 | 0.03 |
| &nbsp;&nbsp;&nbsp;Net realized and unrealized gain (loss) on investments | 1.71 | 3.07 | 1.32 | (2.01) | 5.08 |
| Total from investment operations | 1.78 | 3.12 | 1.42 | (1.96) | 5.11 |
| Less distributions from: |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;Net investment income | (0.09) | (0.05) | (0.06) | (0.17) | (0.13) |
| &nbsp;&nbsp;&nbsp;Net realized gains |  |  | (0.09) | (0.29) |  |
| &nbsp;&nbsp;&nbsp;Return of capital |  |  | (0.04) |  |  |
| Total distributions | (0.09) | (0.05) | (0.19) | (0.46) | (0.13) |
| Net asset value, end of year | $19.42 | $17.73 | $14.66 | $13.43 | $15.85 |
| Total return (2) | 10.03% | 21.35% | 10.68% | (12.88)% | 47.22% |
| Net assets, at end of year (000s) | $65648 | $50563 | $36722 | $29243 | $17865 |
| Ratio of gross expenses to average net assets before expense reimbursement/recapture (3)(4) | 1.19% | 1.21% | 1.28% | 1.19% | 1.24% |
| Ratio of net expenses to average net assets after expense reimbursement/recapture (4) | 1.20% | 1.20% | 1.20% | 1.20% | 1.20% |
| Ratio of net investment income to average net assets (4)(5) | 0.40% | 0.34% | 0.69% | 0.31% | 0.22% |
| Portfolio Turnover Rate | 58% | 38% | 50% | 50% | 35% |

---

(1) Per share amounts calculated using the average shares method.

(2) Total return in the above table is historical in nature and represents the rate that the investor would have earned or lost on an investment in the Fund assuming reinvestment of dividends and capital gain distributions, if any and does not reflect the impact of sales charges. Had the advisor not waived or recaptured a portion of the Fund's expenses in certain periods, total returns would have been lower/higher.

(3) Represents the ratio of expenses to average net assets absent fee waivers and/or expense reimbursements/recapture by the advisor.

(4) The ratios of expenses to average net assets and net investment income to average net assets do not reflect the expenses of the underlying investment companies in which the Fund invests.

(5) Recognition of net investment income is affected by the timing and declaration of dividends by the underlying investment companies in which the Fund invests.

---

| | |
|:---|:---|
| **EVENTIDE** | **148** |
| **EVENTIDE** | **148** |

---

---

| | |
|:---|:---|
| **P r o s p e c t u s**  | **N o v e m b e r 1, 2 0 2 5** |

---

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
|  | **Class C** | **Class C** | **Class C** | **Class C** | **Class C** |
|  | **Year Ended**<br>**June 30, 2025** | **Year Ended**<br>**June 30, 2024** | **Year Ended**<br>**June 30, 2023** | **Year Ended**<br>**June 30, 2022** | **Year Ended**<br>**June 30, 2021** |
| Net asset value, beginning of year | $17.52 | $14.54 | $13.34 | $15.77 | $10.86 |
| Activity from investment operations: |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;Net investment income (loss) (1) | (0.07) | (0.06) | (0.01) | (0.07) | (0.08) |
| &nbsp;&nbsp;&nbsp;Net realized and unrealized gain (loss) on investments | 1.66 | 3.04 | 1.31 | (2.00) | 5.06 |
| Total from investment operations | 1.59 | 2.98 | 1.30 | (2.07) | 4.98 |
| Less distributions from: |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;Net investment income |  |  |  | (0.07) | (0.07) |
| &nbsp;&nbsp;&nbsp;Net realized gains |  |  | (0.09) | (0.29) |  |
| &nbsp;&nbsp;&nbsp;Return of capital |  |  | (0.01) |  |  |
| Total distributions |  |  | (0.10) | (0.36) | (0.07) |
| Net asset value, end of year | $19.11 | $17.52 | $14.54 | $13.34 | $15.77 |
| Total return (2) | 9.19 | 20.50 | 9.78% | (13.57)% | 45.93% |
| Net assets, at end of year (000s) | $27018 | $19564 | $14889 | $9975 | $4508 |
| Ratio of gross expenses to average net assets before expense reimbursement/recapture (3)(4) | 1.94 | 1.96 | 2.03% | 1.94% | 1.99% |
| Ratio of net expenses to average net assets after expense reimbursement/recapture (4) | 1.95 | 1.95 | 1.95% | 1.95% | 1.95% |
| Ratio of net investment income (loss) to average net assets (4)(5) | (0.36) | (0.40) | (0.05)% | (0.42)% | (0.53)% |
| Portfolio Turnover Rate | 58 | 38 | 50% | 50% | 35% |

---

(1) Per share amounts calculated using the average shares method.

(2) Total return in the above table is historical in nature and represents the rate that the investor would have earned or lost on an investment in the Fund assuming reinvestment of dividends and capital gain distributions, if any. Had the advisor not waived or recaptured a portion of the Fund's expenses in certain periods, total returns would have been lower/higher.

(3) Represents the ratio of expenses to average net assets absent fee waivers and/or expense reimbursements/recapture by the advisor.

(4) The ratios of expenses to average net assets and net investment income/(loss) to average net assets do not reflect the expenses of the underlying investment companies in which the Fund invests.

(5) Recognition of net investment income (loss) is affected by the timing and declaration of dividends by the underlying investment companies in which the Fund invests.

(6) As required by SEC standard per share data calculation methodology, this represents a balancing figure derived from the other amounts in the financial highlights tables that captures all other changes affecting net asset value per share. This per share loss amount does not correlate to the aggregate of the net investment income in the Statement of Operations for the fiscal year, primarily due to the timing of sales and repurchases of the Fund's shares in relation to underlying income.

---

| | |
|:---|:---|
| **EVENTIDE** | **149** |
| **EVENTIDE** | **149** |

---

---

| | |
|:---|:---|
| **P r o s p e c t u s**  | **N o v e m b e r 1, 2 0 2 5** |

---

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
|  | **Class I** | **Class I** | **Class I** | **Class I** | **Class I** |
|  | **Year Ended**<br>**June 30, 2025** | **Year Ended**<br>**June 30, 2024** | **Year Ended**<br>**June 30, 2023** | **Year Ended**<br>**June 30, 2022** | **Year Ended**<br>**June 30, 2021** |
| Net asset value, beginning of year | $17.74 | $14.66 | $13.44 | $15.87 | $10.88 |
| Activity from investment operations: |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;Net investment income (1) | 0.12 | 0.09 | 0.13 | 0.09 | 0.07 |
| &nbsp;&nbsp;&nbsp;Net realized and unrealized gain (loss) on investments | 1.70 | 3.08 | 1.32 | (2.02) | 5.07 |
| Total from investment operations | 1.82 | 3.17 | 1.45 | (1.93) | 5.14 |
| Less distributions from: |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;Net investment income | (0.13) | (0.09) | (0.11) | (0.21) | (0.15) |
| &nbsp;&nbsp;&nbsp;Net realized gains |  |  | (0.09) | (0.29) |  |
| &nbsp;&nbsp;&nbsp;Return of capital |  |  | (0.03) |  |  |
| Total distributions | (0.13) | (0.09) | (0.23) | (0.50) | (0.15) |
| Net asset value, end of year | $19.43 | $17.74 | $14.66 | $13.44 | $15.87 |
| Total return (2) | 10.30% | 21.70% | 10.87% | (12.72)% | 47.49% |
| Net assets, at end of year (000s) | $1032728 | $705913 | $430286 | $305801 | $237256 |
| Ratio of gross expenses to average net assets before |  |  |  |  |  |
| expense reimbursement/recapture (3)(4) | 0.94% | 0.96% | 1.03% | 0.94% | 0.99% |
| Ratio of net expenses to average net assets after expense reimbursement/recapture (4) | 0.95% | 0.95% | 0.95% | 0.95% | 0.95% |
| Ratio of net investment income to average net assets (4)(5) | 0.65% | 0.61% | 0.96% | 0.55% | 0.48% |
| Portfolio Turnover Rate | 58% | 38% | 50% | 50% | 35% |

---

(1) Per share amounts calculated using the average shares method.

(2) Total return in the above table is historical in nature and represents the rate that the investor would have earned or lost on an investment in the Fund assuming reinvestment of dividends and capital gain distributions, if any. Had the advisor not waived or recaptured a portion of the Fund's expenses in certain periods, total returns would have been lower/higher.

(3) Represents the ratio of expenses to average net assets absent fee waivers and/or expense reimbursements/recapture by the advisor.

(4) The ratios of expenses to average net assets and net investment income to average net assets do not reflect the expenses of the underlying investment companies in which the Fund invests.

(5) Recognition of net investment income is affected by the timing and declaration of dividends by the underlying investment companies in which the Fund invests.

---

| | |
|:---|:---|
| **EVENTIDE** | **150** |
| **EVENTIDE** | **150** |

---

---

| | |
|:---|:---|
| **P r o s p e c t u s**  | **N o v e m b e r 1, 2 0 2 5** |

---

**EVENTIDE LIMITED-TERM BOND FUND**

The following tables are intended to help you better understand the financial performance of the Fund's Class A, Class C, Class N and Class I shares for the last five fiscal years. Certain information reflects financial results for a single Fund share. Total return represents the rate you would have earned (or lost) on an investment in each Fund's Class A, Class C, Class N and Class I shares, assuming reinvestment of all dividends and distributions. The information for the fiscal years ended June 30, 2025, June 30, 2024 and June 30, 2023, has been audited by Cohen & Company, Ltd., the Fund's independent registered public accounting firm, whose report, along with the Fund's financial statements, is available upon request. The information for each fiscal period ended prior to June 30, 2023 has been audited by the Fund's former independent registered public accounting firm.

Per Share Data and Ratios for a Share of Beneficial Interest Outstanding Throughout Each of the Years Presented

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
|  | **Class N** | **Class N** | **Class N** | **Class N** | **Class N** |
|  | **Year Ended**<br>**June 30, 2025** | **Year Ended**<br>**June 30, 2024** | **Year Ended**<br>**June 30, 2023** | **Year Ended**<br>**June 30, 2022** | **Year Ended**<br>**June 30, 2021** |
| Net asset value, beginning of year | $9.89 | $9.68 | $9.72 | $10.49 | $10.62 |
| Activity from investment operations: |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;Net investment income (1) | 0.35 | 0.28 | 0.16 | 0.04 | 0.06 |
| &nbsp;&nbsp;&nbsp;Net realized and unrealized gain (loss) on investments | 0.22 | 0.22 | (0.04 | (0.69) | (0.01) |
| Total from investment operations | 0.57 | 0.50 | 0.12 | (0.65) | 0.05 |
| Less distributions from: |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;Net investment income | (0.36) | (0.29) | (0.16) | (0.07) | (0.07) |
| &nbsp;&nbsp;&nbsp;Net realized gains |  |  |  |  | (0.07) |
| &nbsp;&nbsp;&nbsp;Return of capital |  |  | (0.00 | (0.05) | (0.04) |
| Total distributions | (0.36) | (0.29) | (0.16 | (0.12) | (0.18) |
| Net asset value, end of year | $10.10 | $9.89 | $9.68 | $9.72 | $10.49 |
| Total return (2) | 5.80% | 5.18% | 1.29 | (6.26)% | 0.48% |
| Net assets, at end of year (000s) | $17359 | $17949 | $17698 | $5622 | $6906 |
| Ratio of gross expenses to average net assets before expense reimbursement (3)(4) | 0.80% | 0.89% | 0.91 | 0.84% | 0.86% |
| Ratio of net expenses to average net assets after expense reimbursement (4) | 0.75% | 0.75% | 0.75 | 0.75% | 0.75% |
| Ratio of net investment income to average net assets (4)(5) | 3.50% | 2.87% | 1.66 | 0.42% | 0.54% |
| Portfolio Turnover Rate | 7% | 33% | 34 | 48% | 72% |

---

(1) Per share amounts calculated using the average shares method.

(2) Total return in the above table is historical in nature and represents the rate that the investor would have earned or lost on an investment in the Fund assuming reinvestment of dividends and capital gain distributions, if any. Had the advisor not waived a portion of the Fund's expenses in certain periods, total returns would have been lower.

(3) Represents the ratio of expenses to average net assets absent fee waivers and/or expense reimbursements by the advisor.

(4) The ratios of expenses to average net assets and net investment income to average net assets do not reflect the expenses of the underlying investment companies in which the Fund invests.

(5) Recognition of net investment income is affected by the timing and declaration of dividends by the underlying investment companies in which the Fund invests.

(6) Amount represents less than $0.01 per share.

---

| | |
|:---|:---|
| **EVENTIDE** | **151** |
| **EVENTIDE** | **151** |

---

---

| | |
|:---|:---|
| **P r o s p e c t u s**  | **N o v e m b e r 1, 2 0 2 5** |

---

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
|  | **Class A** | **Class A** | **Class A** | **Class A** | **Class A** |
|  | **Year Ended**<br>**June 30, 2025** | **Year Ended**<br>**June 30, 2024** | **Year Ended**<br>**June 30, 2023** | **Year Ended**<br>**June 30, 2022** | **Year Ended**<br>**June 30, 2021** |
| Net asset value, beginning of year | $9.91 | $9.70 | $9.75 | $10.51 | $10.65 |
| Activity from investment operations: |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;Net investment income (1) | 0.35 | 0.27 | 0.14 | 0.04 | 0.03 |
| &nbsp;&nbsp;&nbsp;Net realized and unrealized gain (loss) on investments | 0.22 | 0.22 | (0.03 | (0.69) | 0.01 |
| Total from investment operations | 0.57 | 0.49 | 0.11 | (0.65) | 0.04 |
| Less distributions from: |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;Net investment income | (0.35) | (0.28) | (0.16) | (0.06) | (0.07) |
| &nbsp;&nbsp;&nbsp;Net realized gains |  |  |  |  | (0.07) |
| &nbsp;&nbsp;&nbsp;Return of capital |  |  | (0.00 | (0.05) | (0.04 |
| Total distributions | (0.35) | (0.28) | (0.16 | (0.11) | (0.18 |
| Paid-in-capital from redemption fees (1) |  |  |  |  |  |
| Net asset value, end of year | $10.13 | $9.91 | $9.70 | $9.75 | $10.51 |
| Total return (2) | 5.84% | 5.09% | 1.14 | (6.20)% | 0.45 |
| Net assets, at end of year (000s) | $4378 | $4612 | $19390 | $22210 | $29596 |
| Ratio of gross expenses to average net assets before expense reimbursement (3)(4) | 0.85% | 0.94% | 0.96 | 0.89% | 0.91 |
| Ratio of net expenses to average net assets after expense reimbursement (4) | 0.80% | 0.80% | 0.80 | 0.80% | 0.80 |
| Ratio of net investment income to average net assets (4)(5) | 3.45% | 2.70% | 1.47 | 0.37% | 0.27 |
| Portfolio Turnover Rate | 7% | 33% | 34 | 48% | 72 |

---

(1) Per share amounts calculated using the average shares method.

(2) Total return in the above table is historical in nature and represents the rate that the investor would have earned or lost on an investment in the Fund assuming reinvestment of dividends and capital gain distributions, if any and does not reflect the impact of sales charges. Had the advisor not waived a portion of the Fund's expenses in certain periods, total returns would have been lower.

(3) Represents the ratio of expenses to average net assets absent fee waivers and/or expense reimbursements by the advisor.

(4) The ratios of expenses to average net assets and net investment income to average net assets do not reflect the expenses of the underlying investment companies in which the Fund invests.

(5) Recognition of net investment income is affected by the timing and declaration of dividends by the underlying investment companies in which the Fund invests.

(6) Due to the timing of shareholder transactions, and allocations of expenses among share classes, the per unit amounts presented may not coincide with the aggregate presentation on the Statements of Operations.

(7) Amount represents less than $0.01 per share.

---

| | |
|:---|:---|
| **EVENTIDE** | **152** |
| **EVENTIDE** | **152** |

---

---

| | |
|:---|:---|
| **P r o s p e c t u s**  | **N o v e m b e r 1, 2 0 2 5** |

---

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
|  | **Class C** | **Class C** | **Class C** | **Class C** | **Class C** |
|  | **Year Ended**<br>**June 30, 2025** | **Year Ended**<br>**June 30, 2024** | **Year Ended**<br>**June 30, 2023** | **Year Ended**<br>**June 30, 2022** | **Year Ended**<br>**June 30, 2021** |
| Net asset value, beginning of year | $9.84 | $9.64 | $9.68 | $10.44 | $10.60 |
| Activity from investment operations: |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;Net investment income (loss) (1) | 0.27 | 0.20 | 0.07 | (0.04) | (0.05) |
| &nbsp;&nbsp;&nbsp;Net realized and unrealized gain (loss) on investments | 0.22 | 0.21 | (0.02 | (0.68) | 0.01 |
| Total from investment operations | 0.49 | 0.41 | 0.05 | (0.72) | (0.04 |
| Less distributions from: |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;Net investment income | (0.27) | (0.21) | (0.09) | (0.02) | (0.01) |
| &nbsp;&nbsp;&nbsp;Net realized gains |  |  |  |  | (0.07) |
| &nbsp;&nbsp;&nbsp;Return of capital |  |  | (0.00 | (0.02) | (0.04 |
| Total distributions | (0.27) | (0.21) | (0.09 | (0.04) | (0.12 |
| Net asset value, end of year | $10.06 | $9.84 | $9.64 | $9.68 | $10.44 |
| Total return (2) | 5.10% | 4.26% | 0.49 | (6.94)% | (0.38 |
| Net assets, at end of year (000s) | $1603 | $1564 | $1618 | $1678 | $1545 |
| Ratio of gross expenses to average net assets before expense reimbursement (3)(4) | 1.60% | 1.69% | 1.71 | 1.64% | 1.66 |
| Ratio of net expenses to average net assets after expense reimbursement (4) | 1.55% | 1.55% | 1.55 | 1.55% | 1.55 |
| Ratio of net investment income (loss)to average net assets (4)(5) | 2.70% | 2.05% | 0.74 | (0.37)% | (0.50) |
| Portfolio Turnover Rate | 7% | 33% | 34 | 48% | 72 |

---

(1) Per share amounts calculated using the average shares method.

(2) Total return in the above table is historical in nature and represents the rate that the investor would have earned or lost on an investment in the Fund assuming reinvestment of dividends and capital gain distributions, if any. Had the advisor not waived a portion of the Fund's expenses in certain periods, total returns would have been lower.

(3) Represents the ratio of expenses to average net assets absent fee waivers and/or expense reimbursements/recapture by the advisor.

(4) The ratios of expenses to average net assets and net investment income to average net assets do not reflect the expenses of the underlying investment companies in which the Fund invests.

(5) Recognition of net investment income (loss) is affected by the timing and declaration of dividends by the underlying investment companies in which the Fund invests.

(6) Due to the timing of shareholder transactions, and allocations of expenses among share classes, the per unit amounts presented may not coincide with the aggregate presentation on the Statements of Operations.

(7) Amount represents less than $0.01 per share.

---

| | |
|:---|:---|
| **EVENTIDE** | **153** |
| **EVENTIDE** | **153** |

---

---

| | |
|:---|:---|
| **P r o s p e c t u s**  | **N o v e m b e r 1, 2 0 2 5** |

---

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
|  | **Class I** | **Class I** | **Class I** | **Class I** | **Class I** |
|  | **Year Ended**<br>**June 30, 2025** | **Year Ended**<br>**June 30, 2024** | **Year Ended**<br>**June 30, 2023** | **Year Ended**<br>**June 30, 2022** | **Year Ended**<br>**June 30, 2021** |
| Net asset value, beginning of year | $10.15 | $9.93 | $9.97 | $10.75 | $10.89 |
| Activity from investment operations: |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;Net investment income (1) | 0.38 | 0.31 | 0.16 | 0.07 | 0.05 |
| &nbsp;&nbsp;&nbsp;Net realized and unrealized gain (loss) on investments | 0.23 | 0.22 | (0.02 | (0.71) | 0.01 |
| Total from investment operations | 0.61 | 0.53 | 0.14 | (0.64) | 0.06 |
| Less distributions from: |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;Net investment income | (0.38) | (0.31) | (0.18) | (0.08) | (0.09) |
| &nbsp;&nbsp;&nbsp;Net realized gains |  |  |  |  | (0.07) |
| &nbsp;&nbsp;&nbsp;Return of capital |  |  | (0.00 | (0.06) | (0.04 |
| Total distributions | (0.38) | (0.31) | (0.18 | (0.14) | (0.20 |
| Paid-in-capital from redemption fees (1) |  |  |  |  |  |
| Net asset value, end of year | $10.38 | $10.15 | $9.93 | $9.97 | $10.75 |
| Total return (2) | 6.06% | 5.35% | 1.46 | (6.02)% | 0.65 |
| Net assets, at end of year (000s) | $145867 | $121701 | $88666 | $152546 | $144089 |
| Ratio of gross expenses to average net assets before expense reimbursement (3)(4) | 0.60% | 0.69% | 0.71 | 0.64% | 0.66 |
| Ratio of net expenses to average net assets after expense reimbursement (4) | 0.55% | 0.55% | 0.55 | 0.55% | 0.55 |
| Ratio of net investment income to average net assets (4)(5) | 3.71% | 3.10% | 1.68 | 0.64% | 0.49 |
| Portfolio Turnover Rate | 7% | 33% | 34 | 48% | 72 |

---

(1) Per share amounts calculated using the average shares method.

(2) Total return in the above table is historical in nature and represents the rate that the investor would have earned or lost on an investment in the Fund assuming reinvestment of dividends and capital gain distributions, if any. Had the advisor not waived a portion of the Fund's expenses in certain periods, total returns would have been lower.

(3) Represents the ratio of expenses to average net assets absent fee waivers and/or expense reimbursements by the advisor.

(4) The ratios of expenses to average net assets and net investment income to average net assets do not reflect the expenses of the underlying investment companies in which the Fund invests.

(5) Recognition of net investment income is affected by the timing and declaration of dividends by the underlying investment companies in which the Fund invests.

(6) Due to the timing of shareholder transactions, and allocations of expenses among share classes, the per unit amounts presented may not coincide with the aggregate presentation on the Statements of Operations.

(7) Amount represents less than $0.01 per share.

---

| | |
|:---|:---|
| **EVENTIDE** | **154** |
| **EVENTIDE** | **154** |

---

---

| | |
|:---|:---|
| **P r o s p e c t u s**  | **N o v e m b e r 1, 2 0 2 5** |

---

**EVENTIDE EXPONENTIAL TECHNOLOGIES FUND**

The following tables are intended to help you better understand the financial performance of the Fund's Class A, Class C, Class N and Class I shares for the last five fiscal years. Certain information reflects financial results for a single Fund share. Total return represents the rate you would have earned (or lost) on an investment in each Fund's Class A, Class C, Class N and Class I shares, assuming reinvestment of all dividends and distributions. The information for the fiscal years ended June 30, 2025, June 30, 2024 and June 30, 2023, has been audited by Cohen & Company, Ltd., the Fund's independent registered public accounting firm, whose report, along with the Fund's financial statements, is available upon request. The information for each fiscal period ended prior to June 30, 2023 has been audited by the Fund's former independent registered public accounting firm.

Per Share Data and Ratios for a Share of Beneficial Interest Outstanding Throughout Each of the Period or Years Presented

 

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
|  | **Class N** | **Class N** | **Class N** | **Class N** | **Class N** |
|  | **Year Ended**<br>**June 30, 2025** | **Year Ended**<br>**June 30, 2024** | **Year Ended**<br>**June 30, 2023** | **Year Ended**<br>**June 30, 2022** | **Year Ended**<br>**June 30, 2021 \*** |
| Net asset value, beginning of year | $11.96 | $12.00 | $10.92 | $19.08 | $10.00 |
| Activity from investment operations: |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;Net investment loss (1) | (0.16) | (0.17) | (0.13) | (0.25) | (0.25) |
| &nbsp;&nbsp;&nbsp;Net realized and unrealized gain (loss) on investments | 1.67 | 0.13 | 1.20 | (7.69) | 9.33 |
| Total from investment operations | 1.51 | (0.04) | 1.07 | (7.94) | 9.08 |
| Less distributions from: |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;Net realized gains |  |  |  | (0.23) | (0.02) |
| Total distributions |  |  |  | (0.23) | (0.02) |
| Paid-in-capital from redemption fees (1) |  |  | 0.01 | 0.01 | 0.02 |
| Net asset value, end of year | $13.47 | $11.96 | $12.00 | $10.92 | $19.08 |
| Total return (2) | 12.63% | (0.33)% | 9.89% | (42.00)% | 91.00% |
| Net assets, at end of year (000s) | $19462 | $19201 | $22186 | $12479 | $15730 |
| Ratio of gross expenses to average net assets before expense reimbursement (3)(4) | 1.74% | 1.69% | 1.70% | 1.63% | 1.73% |
| Ratio of net expenses to average net assets after expense reimbursement (4) | 1.63% | 1.63% | 1.63% | 1.63% | 1.63% |
| Ratio of net investment loss to average net assets (4)(5) | (1.28)% | (1.36)% | (1.23)% | (1.54)% | (1.50)% |
| Portfolio Turnover Rate | 126% | 70% | 80% | 69% | 60% |

---

\* Eventide Exponential Technologies Fund commenced operations on June 30, 2020.

(1) Per share amounts calculated using the average shares method.

(2) Total return in the above table is historical in nature and represents the rate that the investor would have earned or lost on an investment in the Fund assuming reinvestment of dividends and capital gain distributions, if any. Had the advisor not waived a portion of the Fund's expenses in certain periods, total returns would have been lower.

(3) Represents the ratio of expenses to average net assets absent fee waivers and/or expense reimbursements by the advisor.

(4) The ratios of expenses to average net assets and net investment loss to average net assets do not reflect the expenses of the underlying investment companies in which the Fund invests.

(5) Recognition of net investment loss is affected by the timing and declaration of dividends by the underlying investment companies in which the Fund invests.

---

| | |
|:---|:---|
| **EVENTIDE** | **155** |
| **EVENTIDE** | **155** |

---

---

| | |
|:---|:---|
| **P r o s p e c t u s**  | **N o v e m b e r 1, 2 0 2 5** |

---

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
|  | **Class A** | **Class A** | **Class A** | **Class A** | **Class A** |
|  | **Year Ended**<br>**June 30, 2025** | **Year Ended**<br>**June 30, 2024** | **Year Ended**<br>**June 30, 2023** | **Year Ended**<br>**June 30, 2022** | **Year Ended**<br>**June 30, 2021 \*** |
| Net asset value, beginning of year | $11.96 | $12.00 | $10.93 | $19.08 | $10.00 |
| Activity from investment operations: |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;Net investment loss (1) | (0.17) | (0.17) | (0.14) | (0.25) | (0.26) |
| &nbsp;&nbsp;&nbsp;Net realized and unrealized gain (loss) on investments | 1.67 | 0.13 | 1.20 | (7.68) | 9.34 |
| Total from investment operations | 1.50 | (0.04) | 1.06 | (7.93) | 9.08 |
| Less distributions from: |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;Net realized gains |  |  |  | (0.23) | (0.02) |
| Total distributions |  |  |  | (0.23) | (0.02) |
| Paid-in-capital from redemption fees (1) |  |  | 0.01 | 0.01 | 0.02 |
| Net asset value, end of year | $13.46 | $11.96 | $12.00 | $10.93 | $19.08 |
| Total return (2) | 12.54% | (0.33)% | 9.79% | (41.95)% | 91.00% |
| Net assets, at end of year (000s) | $8133 | $8421 | $8257 | $7377 | $7662 |
| Ratio of gross expenses to average net assets before expense reimbursement (3)(4) | 1.79% | 1.74% | 1.75% | 1.68% | 1.78% |
| Ratio of net expenses to average net assets after expense reimbursement (4) | 1.68% | 1.68% | 1.68% | 1.68% | 1.68% |
| Ratio of net investment loss to average net assets (4)(5) | (1.33)% | (1.41)% | (1.28)% | (1.58)% | (1.55)% |
| Portfolio Turnover Rate | 126% | 70% | 80% | 69% | 60% |

---

\* Eventide Exponential Technologies Fund commenced operations on June 30, 2020.

(1) Per share amounts calculated using the average shares method.

(2) Total return in the above table is historical in nature and represents the rate that the investor would have earned or lost on an investment in the Fund assuming reinvestment of dividends and capital gain distributions, if any and does not reflect the impact of sales charges. Had the advisor not waived a portion of the Fund's expenses in certain periods, total returns would have been lower.

(3) Represents the ratio of expenses to average net assets absent fee waivers and/or expense reimbursements by the advisor.

(4) The ratios of expenses to average net assets and net investment loss to average net assets do not reflect the expenses of the underlying investment companies in which the Fund invests.

(5) Recognition of net investment loss is affected by the timing and declaration of dividends by the underlying investment companies in which the Fund invests.

---

| | |
|:---|:---|
| **EVENTIDE** | **156** |
| **EVENTIDE** | **156** |

---

---

| | |
|:---|:---|
| **P r o s p e c t u s**  | **N o v e m b e r 1, 2 0 2 5** |

---

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
|  | **Class C** | **Class C** | **Class C** | **Class C** | **Class C** |
|  | **Year Ended**<br>**June 30, 2025** | **Year Ended**<br>**June 30, 2024** | **Year Ended**<br>**June 30, 2023** | **Year Ended**<br>**June 30, 2022** | **Year Ended**<br>**June 30, 2021 \*** |
| Net asset value, beginning of year | $11.61 | $11.74 | $10.77 | $18.96 | $10.00 |
| Activity from investment operations: |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;Net investment loss (1) | (0.25) | (0.25) | (0.21) | (0.37) | (0.38) |
| &nbsp;&nbsp;&nbsp;Net realized and unrealized gain (loss) on investments | 1.60 | 0.12 | 1.17 | (7.60) | 9.35 |
| Total from investment operations | 1.35 | (0.13) | 0.96 | (7.97) | 8.97 |
| Less distributions from: |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;Net realized gains |  |  |  | (0.23) | (0.02) |
| Total distributions |  |  |  | (0.23) | (0.02) |
| Paid-in-capital from redemption fees (1) |  |  | 0.01 | 0.01 | 0.01 |
| Net asset value, end of year | $12.96 | $11.61 | $11.74 | $10.77 | $18.96 |
| Total return (2) | 11.63% | (1.11)% | 9.01% | (42.43)% | 89.80% |
| Net assets, at end of year (000s) | $2148 | $2550 | $2635 | $2422 | $2065 |
| Ratio of gross expenses to average net assets before expense reimbursement (3)(4) | 2.54% | 2.49% | 2.50% | 2.43% | 2.53% |
| Ratio of net expenses to average net assets after expense reimbursement (4) | 2.43% | 2.43% | 2.43% | 2.43% | 2.43% |
| Ratio of net investment loss to average net assets (4)(5) | (2.08)% | (2.16)% | (2.03)% | (2.33)% | (2.30)% |
| Portfolio Turnover Rate | 126% | 70% | 80% | 69% | 60% |

---

\* Eventide Exponential Technologies Fund commenced operations on June 30, 2020.

(1) Per share amounts calculated using the average shares method.

(2) Total return in the above table is historical in nature and represents the rate that the investor would have earned or lost on an investment in the Fund assuming reinvestment of dividends and capital gain distributions, if any. Had the advisor not waived a portion of the Fund's expenses in certain periods, total returns would have been lower.

(3) Represents the ratio of expenses to average net assets absent fee waivers and/or expense reimbursements by the advisor.

(4) The ratios of expenses to average net assets and net investment loss to average net assets do not reflect the expenses of the underlying investment companies in which the Fund invests.

(5) Recognition of net investment loss is affected by the timing and declaration of dividends by the underlying investment companies in which the Fund invests.

---

| | |
|:---|:---|
| **EVENTIDE** | **157** |
| **EVENTIDE** | **157** |

---

---

| | |
|:---|:---|
| **P r o s p e c t u s**  | **N o v e m b e r 1, 2 0 2 5** |

---

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
|  | **Class I** | **Class I** | **Class I** | **Class I** | **Class I** |
|  | **Year Ended**<br>**June 30, 2025** | **Year Ended**<br>**June 30, 2024** | **Year Ended**<br>**June 30, 2023** | **Year Ended**<br>**June 30, 2022** | **Year Ended**<br>**June 30, 2021 \*** |
| Net asset value, beginning of year | $12.07 | $12.08 | $10.97 | $19.12 | $10.00 |
| Activity from investment operations: |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;Net investment loss (1) | (0.14) | (0.14) | (0.11) | (0.22) | (0.22) |
| &nbsp;&nbsp;&nbsp;Net realized and unrealized gain (loss) on investments | 1.69 | 0.13 | 1.21 | (7.71) | 9.34 |
| Total from investment operations | 1.55 | (0.01) | 1.10 | (7.93) | 9.12 |
| Less distributions from: |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;Net realized gains |  |  |  | (0.23) | (0.02) |
| Total distributions |  |  |  | (0.23) | (0.02) |
| Paid-in-capital from redemption fees (1) |  |  | 0.01 | 0.01 | 0.02 |
| Net asset value, end of year | $13.62 | $12.07 | $12.08 | $10.97 | $19.12 |
| Total return (2) | 12.84% | (0.08)% | 10.12% | (41.86)% | 91.40% |
| Net assets, at end of year (000s) | $67544 | $85315 | $82735 | $72567 | $96821 |
| Ratio of gross expenses to average net assets before expense reimbursement (3)(4) | 1.54% | 1.49% | 1.50% | 1.43% | 1.53% |
| Ratio of net expenses to average net assets after expense reimbursement (4) | 1.43% | 1.43% | 1.43% | 1.43% | 1.43% |
| Ratio of net investment loss to average net assets (4)(5) | (1.08)% | (1.16)% | (1.02)% | (1.33)% | (1.30)% |
| Portfolio Turnover Rate | 126% | 70% | 80% | 69% | 60% |

---

\* Eventide Exponential Technologies Fund commenced operations on June 30, 2020.

(1) Per share amounts calculated using the average shares method.

(2) Total return in the above table is historical in nature and represents the rate that the investor would have earned or lost on an investment in the Fund assuming reinvestment of dividends and capital gain distributions, if any. Had the advisor not waived a portion of the Fund's expenses in certain periods, total returns would have been lower.

(3) Represents the ratio of expenses to average net assets absent fee waivers and/or expense reimbursements by the advisor.

(4) The ratios of expenses to average net assets and net investment loss to average net assets do not reflect the expenses of the underlying investment companies in which the Fund invests.

(5) Recognition of net investment loss is affected by the timing and declaration of dividends by the underlying investment companies in which the Fund invests.

---

| | |
|:---|:---|
| **EVENTIDE** | **158** |
| **EVENTIDE** | **158** |

---

---

| | |
|:---|:---|
| **P r o s p e c t u s**  | **N o v e m b e r 1, 2 0 2 5** |

---

**EVENTIDE CORE BOND FUND**

The following tables are intended to help you better understand the financial performance of the Fund's Class A, Class C, Class N and Class I shares since their inception. Certain information reflects financial results for a single Fund share. Total return represents the rate you would have earned (or lost) on an investment in each Fund's Class A, Class C, Class N and Class I shares, assuming reinvestment of all dividends and distributions. The information for the fiscal years ended June 30, 2025, June 30, 2024 and June 30, 2023, has been audited by Cohen & Company, Ltd., the Fund's independent registered public accounting firm, whose report, along with the Fund's financial statements, is available upon request. The information for each fiscal period ended prior to June 30, 2023 has been audited by the Fund's former independent registered public accounting firm.

Per Share Data and Ratios for a Share of Beneficial Interest Outstanding Throughout Each of the Years or Period Presented

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
|  | **Class N** | **Class N** | **Class N** | **Class N** | **Class N** |
|  | **Year Ended**<br>**June 30, 2025** | **Year Ended**<br>**June 30, 2024** | **Year Ended**<br>**June 30, 2023** | **Year Ended**<br>**June 30, 2022** | **Period Ended**<br>**June 30, 2021 \*** |
| Net asset value, beginning of period/year | $8.08 | $8.15 | $8.41 | $9.66 | $10.00 |
| Activity from investment operations: |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;Net investment income (1) | 0.33 | 0.28 | 0.17 | 0.08 | 0.05 |
| &nbsp;&nbsp;&nbsp;Net realized and unrealized gain (loss) on investments | 0.14 | (0.09) | (0.25) | (1.20) | (0.29) |
| Total from investment operations | 0.47 | 0.19 | (0.08) | (1.12) | (0.24) |
| Less distributions from: |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;Net investment income | (0.32) | (0.26) | (0.18) | (0.11) | (0.05) |
| &nbsp;&nbsp;&nbsp;Return of capital |  |  |  | (0.02) | (0.05) |
| Total distributions | (0.32) | (0.26) | (0.18) | (0.13) | (0.10) |
| Net asset value, end of period/year | $8.23 | $8.08 | $8.15 | $8.41 | $9.66 |
| Total return (2) | 5.93% | 2.34% | (0.89)% | (11.69)% | (2.39)% (6) |
| Net assets, at end of period/year (000s) | $37596 | $35467 | $37445 | $58166 | $56644 |
| Ratio of gross expenses to average net assets before expense reimbursement (3)(4) | 0.88% | 0.90% | 1.01% | 0.96% | 0.89% (7) |
| Ratio of net expenses to average net assets after expense reimbursement (4) | 0.78% | 0.78% | 0.78% | 0.78% | 0.78% (7) |
| Ratio of net investment income to average net assets (4)(5) | 3.99% | 3.46% | 2.09% | 0.88% | 0.53% (7) |
| Portfolio Turnover Rate | 24% | 33% | 57% | 56% | 52% (6) |

---

\* Eventide Core Bond Fund commenced operations on July 31, 2020.

(1) Per share amounts calculated using the average shares method.

(2) Total return in the above table is historical in nature and represents the rate that the investor would have earned or lost on an investment in the Fund assuming reinvestment of dividends and capital gain distributions, if any. Had the advisor not waived a portion of the Fund's expenses in certain periods, total returns would have been lower.

(3) Represents the ratio of expenses to average net assets absent fee waivers and/or expense reimbursements by the advisor.

(4) The ratios of expenses to average net assets and net investment income to average net assets do not reflect the expenses of the underlying investment companies in which the Fund invests.

(5) Recognition of net investment income is affected by the timing and declaration of dividends by the underlying investment companies in which the Fund invests.

(6) Not annualized.

(7) Annualized.

---

| | |
|:---|:---|
| **EVENTIDE** | **159** |
| **EVENTIDE** | **159** |

---

---

| | |
|:---|:---|
| **P r o s p e c t u s**  | **N o v e m b e r 1, 2 0 2 5** |

---

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
|  | **Class A** | **Class A** | **Class A** | **Class A** | **Class A** |
|  | **Year Ended**<br>**June 30, 2025** | **Year Ended**<br>**June 30, 2024** | **Year Ended**<br>**June 30, 2023** | **Year Ended**<br>**June 30, 2022** | **Period Ended**<br>**June 30, 2021 \*** |
| Net asset value, beginning of period/year | $8.12 | $8.18 | $8.44 | $9.71 | $10.00 |
| Activity from investment operations: |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;Net investment income (1) | 0.33 | 0.28 | 0.18 | 0.07 | 0.05 |
| &nbsp;&nbsp;&nbsp;Net realized and unrealized gain (loss) on investments | 0.13 | (0.09) | (0.26) | (1.22) | (0.27) |
| Total from investment operations | 0.46 | 0.19 | (0.08) | (1.15) | (0.22) |
| Less distributions from: |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;Net investment income | (0.32) | (0.25) | (0.18) | (0.10) | (0.02) |
| &nbsp;&nbsp;&nbsp;Return of capital |  |  |  | (0.02) | (0.05) |
| Total distributions | (0.32) | (0.25) | (0.18) | (0.12) | (0.07) |
| Net asset value, end of period/year | $8.26 | $8.12 | $8.18 | $8.44 | $9.71 |
| Total return (2) | 5.73% | 2.42% | (0.90)% | (11.91)% | (2.28)% (6) |
| Net assets, at end of period/year (000s) | $979 | $608 | $412 | $197 | $384 |
| Ratio of gross expenses to average net assets before expense reimbursement (3)(4) | 0.93% | 0.95% | 1.06% | 1.01% | 0.94% (7) |
| Ratio of net expenses to average net assets after expense reimbursement (4) | 0.83% | 0.83% | 0.83% | 0.83% | 0.83% (7) |
| Ratio of net investment income to average net assets (4)(5) | 3.94% | 3.47% | 2.19% | 0.78% | 0.51% (7) |
| Portfolio Turnover Rate | 24% | 33% | 57% | 56% | 52% (6) |

---

\* Eventide Core Bond Fund commenced operations on July 31, 2020.

(1) Per share amounts calculated using the average shares method.

(2) Total return in the above table is historical in nature and represents the rate that the investor would have earned or lost on an investment in the Fund assuming reinvestment of dividends and capital gain distributions, if any and does not reflect the impact of sales charges. Had the advisor not waived a portion of the Fund's expenses in certain periods, total returns would have been lower.

(3) Represents the ratio of expenses to average net assets absent fee waivers and/or expense reimbursements by the advisor.

(4) The ratios of expenses to average net assets and net investment income to average net assets do not reflect the expenses of the underlying investment companies in which the Fund invests.

(5) Recognition of net investment income is affected by the timing and declaration of dividends by the underlying investment companies in which the Fund invests.

(6) Not annualized.

(7) Annualized.

---

| | |
|:---|:---|
| **EVENTIDE** | **160** |
| **EVENTIDE** | **160** |

---

---

| | |
|:---|:---|
| **P r o s p e c t u s**  | **N o v e m b e r 1, 2 0 2 5** |

---

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
|  | **Class C** | **Class C** | **Class C** | **Class C** | **Class C** |
|  | **Year Ended**<br>**June 30, 2025** | **Year Ended**<br>**June 30, 2024** | **Year Ended**<br>**June 30, 2023** | **Year Ended**<br>**June 30, 2022** | **Period Ended**<br>**June 30, 2021 \*** |
| Net asset value, beginning of period/year | $8.03 | $8.11 | $8.37 | $9.63 | $10.00 |
| Activity from investment operations: |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Net investment income (loss) (1) | 0.26 | 0.22 | 0.11 | 0.01 | (0.02) |
| &nbsp;&nbsp;&nbsp;Net realized and unrealized gain (loss) on investments | 0.14 | (0.09) | (0.25) | (1.20) | (0.28) |
| Total from investment operations | 0.40 | 0.13 | (0.14) | (1.19) | (0.30) |
| Less distributions from: |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;Net investment income | (0.26) | (0.21) | (0.12) | (0.06) | (0.02) |
| &nbsp;&nbsp;&nbsp;Return of capital |  |  |  | (0.01) | (0.05) |
| Total distributions | (0.26) | (0.21) | (0.12) | (0.07) | (0.07) |
| Net asset value, end of period/year | $8.17 | $8.03 | $8.11 | $8.37 | $9.63 |
| Total return (2) | 5.04% | 1.53% | (1.67)% | (12.37)% | (3.02)% (6) |
| Net assets, at end of period/year (000s) | $644 | $492 | $221 | $224 | $163 |
| Ratio of gross expenses to average net assets before expense reimbursement (3)(4) | 1.68% | 1.70% | 1.81% | 1.76% | 1.69% (7) |
| Ratio of net expenses to average net assets after expense reimbursement (4) | 1.58% | 1.58% | 1.58% | 1.58% | 1.58% (7) |
| Ratio of net investment income (loss)to average net assets (4)(5) | 3.19% | 2.74% | 1.35% | 0.09% | (0.20)% (7) |
| Portfolio Turnover Rate | 24% | 33% | 57% | 56% | 52% (6) |

---

\* Eventide Core Bond Fund commenced operations on July 31, 2020.

(1) Per share amounts calculated using the average shares method.

(2) Total return in the above table is historical in nature and represents the rate that the investor would have earned or lost on an investment in the Fund assuming reinvestment of dividends and capital gain distributions, if any. Had the advisor not waived a portion of the Fund's expenses in certain periods, total returns would have been lower.

(3) Represents the ratio of expenses to average net assets absent fee waivers and/or expense reimbursements by the advisor.

(4) The ratios of expenses to average net assets and net investment income/(loss) to average net assets do not reflect the expenses of the underlying investment companies in which the Fund invests.

(5) Recognition of net investment income (loss) is affected by the timing and declaration of dividends by the underlying investment companies in which the Fund invests.

(6) Not annualized.

(7) Annualized.

---

| | |
|:---|:---|
| **EVENTIDE** | **161** |
| **EVENTIDE** | **161** |

---

---

| | |
|:---|:---|
| **P r o s p e c t u s**  | **N o v e m b e r 1, 2 0 2 5** |

---

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
|  | **Class I** | **Class I** | **Class I** | **Class I** | **Class I** |
|  | **Year Ended**<br>**June 30, 2025** | **Year Ended**<br>**June 30, 2024** | **Year Ended**<br>**June 30, 2023** | **Year Ended**<br>**June 30, 2022** | **Period Ended**<br>**June 30, 2021 \*** |
| Net asset value, beginning of period/year | $8.08 | $8.15 | $8.41 | $9.66 | $10.00 |
| Activity from investment operations: |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;Net investment income (1) | 0.35 | 0.30 | 0.20 | 0.09 | 0.07 |
| &nbsp;&nbsp;&nbsp;Net realized and unrealized gain (loss) on investments | 0.14 | (0.10) | (0.26) | (1.19) | (0.29) |
| Total from investment operations | 0.49 | 0.20 | (0.06) | (1.10) | (0.22) |
| Less distributions from: |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;Net investment income | (0.34) | (0.27) | (0.20) | (0.13) | (0.07) |
| &nbsp;&nbsp;&nbsp;Return of capital |  |  |  | (0.02) | (0.05) |
| Total distributions | (0.34) | (0.27) | (0.20) | (0.15) | (0.12) |
| Net asset value, end of period/year | $8.23 | $8.08 | $8.15 | $8.41 | $9.66 |
| Total return (2) | 6.14% | 2.54% | (0.67)% | (11.51)% | (2.24)% (6) |
| Net assets, at end of period/year (000s) | $109551 | $100738 | $39300 | $13877 | $64377 |
| Ratio of gross expenses to average net assets before expense reimbursement (3)(4) | 0.68% | 0.70% | 0.81% | 0.76% | 0.69% (7) |
| Ratio of net expenses to average net assets after expense reimbursement (4) | 0.58% | 0.58% | 0.58% | 0.58% | 0.58% (7) |
| Ratio of net investment income to average net assets (4)(5) | 4.19% | 3.77% | 2.45% | 1.00% | 0.80% (7) |
| Portfolio Turnover Rate | 24% | 33% | 57% | 56% | 52% (6) |

---

\* Eventide Core Bond Fund commenced operations on July 31, 2020.

(1) Per share amounts calculated using the average shares method.

(2) Total return in the above table is historical in nature and represents the rate that the investor would have earned or lost on an investment in the Fund assuming reinvestment of dividends and capital gain distributions, if any. Had the advisor not waived a portion of the Fund's expenses in certain periods, total returns would have been lower.

(3) Represents the ratio of expenses to average net assets absent fee waivers and/or expense reimbursements by the advisor.

(4) The ratios of expenses to average net assets and net investment income to average net assets do not reflect the expenses of the underlying investment companies in which the Fund invests.

(5) Recognition of net investment income is affected by the timing and declaration of dividends by the underlying investment companies in which the Fund invests.

(6) Not annualized.

(7) Annualized.

---

| | |
|:---|:---|
| **EVENTIDE** | **162** |
| **EVENTIDE** | **162** |

---

---

| | |
|:---|:---|
| **P r o s p e c t u s**  | **N o v e m b e r 1, 2 0 2 5** |

---

**EVENTIDE LARGE CAP FOCUS FUND**

The following tables are intended to help you better understand the financial performance of the Fund's Class A, Class C, Class N and Class I shares since their inception. Certain information reflects financial results for a single Fund share. Total return represents the rate you would have earned (or lost) on an investment in each Fund's Class A, Class C, Class N and Class I shares, assuming reinvestment of all dividends and distributions. The information for the fiscal year ended June 30, 2025, June 30, 2024 and period ended June 30, 2023, has been audited by Cohen & Company, Ltd. the Fund's independent registered public accounting firm, whose report, along with the Fund's financial statements, is available upon request.

Per Share Data and Ratios for a Share of Beneficial Interest Outstanding Throughout the Year Presented

---

| | | | |
|:---|:---|:---|:---|
|  | **Class N** | **Class N** | **Class N** |
|  | **Year Ended**<br>**June 30, 2025** | **Year Ended**<br>**June 30, 2024** | **Year Ended**<br>**June 30, 2023 \*** |
| Net asset value, beginning of year | $14.01 | $11.44 | $10.00 |
| Activity from investment operations: |  |  |  |
| &nbsp;&nbsp;&nbsp;Net investment income (loss) (1) | 0.02 | &nbsp;&nbsp;&nbsp;&nbsp; (0.00) | (0.01) |
| &nbsp;&nbsp;&nbsp;Net realized and unrealized gain on investments | 1.64 | 2.57 | 1.45 |
| Total from investment operations | 1.66 | 2.57 | 1.44 |
| Less distributions from: |  |  |  |
| &nbsp;&nbsp;&nbsp;Net investment income | (0.02) |  |  |
| &nbsp;&nbsp;&nbsp;Net realized gains | (0.48) |  |  |
| &nbsp;&nbsp;&nbsp;Return of capital |  |  | &nbsp;&nbsp;&nbsp;&nbsp; (0.00) |
| Total distributions | (0.50) |  | &nbsp;&nbsp;&nbsp;&nbsp; (0.00) |
| Net asset value, end of year | $15.17 | $14.01 | $11.44 |
| Total return (2) | 12.09% | 22.47 | 14.43 |
| Net assets, at end of year (000s) | $9268 | $13097 | $330 |
| Ratio of gross expenses to average net assets before expense reimbursement (3)(4) | 1.33% | 1.38 | 2.84 |
| Ratio of net expenses to average net assets after expense reimbursement (4) | 1.14% | 1.14 | 1.15 |
| Ratio of net investment loss to average net assets (4)(5) | 0.14% | (0.02) | (0.15) |
| Portfolio Turnover Rate | 50% | 101 | 48 |

---

\* Eventide Large Cap Focus Fund Class N commenced operations on June 30, 2022.

(1) Per share amounts calculated using the average shares method.

(2) Total return in the above table is historical in nature and represents the rate that the investor would have earned or lost on an investment in the Fund assuming reinvestment of dividends and capital gain distributions, if any. Had the advisor not waived a portion of the Fund's expenses in certain periods, total returns would have been lower.

(3) Represents the ratio of expenses to average net assets absent fee waivers and/or expense reimbursements by the advisor.

(4) The ratios of expenses to average net assets and net investment loss to average net assets do not reflect the expenses of the underlying investment companies in which the Fund invests.

(5) Recognition of net investment loss is affected by the timing and declaration of dividends by the underlying investment companies in which the Fund invests.

(6) Amount represents less than $0.01 per share.

(7) As required by SEC standard per share data calculation methodology, this represents a balancing figure derived from the other amounts in the financial highlights tables that captures all other changes affecting net asset value per share. This per share loss amount does not correlate to the aggregate of the net investment income in the Statement of Operations for the fiscal year, primarily due to the timing of sales and repurchases of the Fund's shares in relation to underlying income.

(8) The ratio includes 0.01% for the year ended June 30, 2023 attributed to line of credit fees.

---

| | |
|:---|:---|
| **EVENTIDE** | **163** |
| **EVENTIDE** | **163** |

---

---

| | |
|:---|:---|
| **P r o s p e c t u s**  | **N o v e m b e r 1, 2 0 2 5** |

---

---

| | | | |
|:---|:---|:---|:---|
|  | **Class A** | **Class A** | **Class A** |
|  | **Year Ended**<br>**June 30, 2025** | **Year Ended**<br>**June 30, 2024** | **Year Ended**<br>**June 30, 2023 \*** |
| Net asset value, beginning of year | $13.99 | $11.42 | $10.00 |
| Activity from investment operations: |  |  |  |
| &nbsp;&nbsp;&nbsp;Net investment income (loss) (1) | 0.01 | &nbsp;&nbsp;&nbsp;&nbsp; (0.00) | (0.00) |
| &nbsp;&nbsp;&nbsp;Net realized and unrealized gain on investments | 1.63 | 2.57 | 1.43 |
| Total from investment operations | 1.64 | 2.57 | 1.43 |
| Less distributions from: |  |  |  |
| &nbsp;&nbsp;&nbsp;Net investment income | (0.02) |  | 0.00 |
| &nbsp;&nbsp;&nbsp;Net realized gains | (0.48) |  |  |
| &nbsp;&nbsp;&nbsp;Return of capital |  |  | (0.01 |
| Total distributions | (0.50) |  | (0.01 |
| Net asset value, end of year | $15.13 | $13.99 | $11.42 |
| Total return (2) | 11.94% | 22.50 | 14.26 |
| Net assets, at end of year (000s) | $4428 | $1836 | $190 |
| Ratio of gross expenses to average net assets before expense reimbursement (3)(4) | 1.38% | 1.43 | 2.89 |
| Ratio of net expenses to average net assets after expense reimbursement (4) | 1.19% | 1.19 | 1.20 |
| Ratio of net investment loss to average net assets (4)(5) | 0.09% | (0.03) | (0.25) |
| Portfolio Turnover Rate | 50% | 101 | 48 |

---

\* Eventide Large Cap Focus Fund Class N commenced operations on June 30, 2022.

(1) Per share amounts calculated using the average shares method.

(2) Total return in the above table is historical in nature and represents the rate that the investor would have earned or lost on an investment in the Fund assuming reinvestment of dividends and capital gain distributions, if any and does not reflect the impact of sales charges. Had the advisor not waived a portion of the Fund's expenses in certain periods, total returns would have been lower.

(3) Represents the ratio of expenses to average net assets absent fee waivers and/or expense reimbursements by the advisor.

(4) The ratios of expenses to average net assets and net investment loss to average net assets do not reflect the expenses of the underlying investment companies in which the Fund invests.

(5) Recognition of net investment loss is affected by the timing and declaration of dividends by the underlying investment companies in which the Fund invests.

(6) Amount represents less than $0.01 per share.

(7) As required by SEC standard per share data calculation methodology, this represents a balancing figure derived from the other amounts in the financial highlights tables that captures all other changes affecting net asset value per share. This per share loss amount does not correlate to the aggregate of the net investment income in the Statement of Operations for the fiscal year, primarily due to the timing of sales and repurchases of the Fund's shares in relation to underlying income.

(8) Includes adjustments in accordance with accounting principles generally accepted in the United States of America and, consequently, the net asset values for financial reporting purposes and the returns based upon those net asset values may differ from the net asset values and returns for shareholder transactions.

(9) The ratio includes 0.01% for the year ended June 30, 2023 attributed to line of credit fees.

---

| | |
|:---|:---|
| **EVENTIDE** | **164** |
| **EVENTIDE** | **164** |

---

---

| | |
|:---|:---|
| **P r o s p e c t u s**  | **N o v e m b e r 1, 2 0 2 5** |

---

---

| | | | |
|:---|:---|:---|:---|
|  | **Class C** | **Class C** | **Class C** |
|  | **Year Ended**<br>**June 30, 2025** | **Year Ended**<br>**June 30, 2024** | **Year Ended**<br>**June 30, 2023 \*** |
| Net asset value, beginning of year | $13.79 | $11.36 | $10.00 |
| Activity from investment operations: |  |  |  |
| &nbsp;&nbsp;&nbsp;Net investment loss (1) | &nbsp;&nbsp;&nbsp;&nbsp; (0.09 | (0.09) | (0.09) |
| &nbsp;&nbsp;&nbsp;Net realized and unrealized gain on investments | 1.61 | 2.52 | 1.45 |
| Total from investment operations | 1.52 | 2.43 | 1.36 |
| Less distributions from: |  |  |  |
| &nbsp;&nbsp;&nbsp;Net realized gains | (0.48) |  |  |
| Total distributions | (0.48 |  |  |
| Net asset value, end of year | $14.83 | $13.79 | $11.36 |
| Total return (2) | 11.24 | 21.39 | 13.60% |
| Net assets, at end of year (000s) | $1019 | $292 | $27 |
| Ratio of gross expenses to average net assets before expense reimbursement (3)(4) | 2.13 | 2.18 | 3.64% (7) |
| Ratio of net expenses to average net assets after expense reimbursement (4) | 1.94 | 1.94 | 1.95% (7) |
| Ratio of net investment loss to average net assets (4)(5) | (0.66) | (0.68) | (0.93)% |
| Portfolio Turnover Rate | 50 | 101 | 48% |

---

\* Eventide Large Cap Focus Fund Class N commenced operations on June 30, 2022.

(1) Per share amounts calculated using the average shares method.

(2) Total return in the above table is historical in nature and represents the rate that the investor would have earned or lost on an investment in the Fund assuming reinvestment of dividends and capital gain distributions, if any. Had the advisor not waived a portion of the Fund's expenses in certain periods, total returns would have been lower.

(3) Represents the ratio of expenses to average net assets absent fee waivers and/or expense reimbursements/recapture by the advisor.

(4) The ratios of expenses to average net assets and net investment loss to average net assets do not reflect the expenses of the underlying investment companies in which the Fund invests.

(5) Recognition of net investment loss is affected by the timing and declaration of dividends by the underlying investment companies in which the Fund invests.

(6) As required by SEC standard per share data calculation methodology, this represents a balancing figure derived from the other amounts in the financial highlights tables that captures all other changes affecting net asset value per share. This per share loss amount does not correlate to the aggregate of the net investment income in the Statement of Operations for the fiscal year, primarily due to the timing of sales and repurchases of the Fund's shares in relation to underlying income.

(7) The ratio includes 0.01% for the year ended June 30, 2023 attributed to line of credit fees.

---

| | |
|:---|:---|
| **EVENTIDE** | **165** |
| **EVENTIDE** | **165** |

---

---

| | |
|:---|:---|
| **P r o s p e c t u s**  | **N o v e m b e r 1, 2 0 2 5** |

---

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | **Class I** | **Class I** | **Class I** | **Class I** |
|  | **Year Ended**<br>**June 30, 2025** | **Year Ended**<br>**June 30, 2024** |  | **Year Ended**<br>**June 30, 2023 \*** |
| Net asset value, beginning of year | $14.04 | $11.44 |  | $10.00 |
| Activity from investment operations: |  |  |  |  |
| &nbsp;&nbsp;&nbsp;Net investment income (1) | 0.04 | 0.03 |  | 0.01 |
| &nbsp;&nbsp;&nbsp;Net realized and unrealized gain on investments | 1.65 | 2.57 | (4) | 1.44 |
| Total from investment operations | 1.69 | 2.60 |  | 1.45 |
| Less distributions from: |  |  |  |  |
| &nbsp;&nbsp;&nbsp;Net investment income | (0.03) |  |  | (0.00) |
| &nbsp;&nbsp;&nbsp;Net realized gains | (0.48) |  |  |  |
| &nbsp;&nbsp;&nbsp;Return of capital |  |  |  | (0.01 |
| Total distributions | (0.51) |  |  | (0.01 |
| Net asset value, end of year | $15.22 | $14.04 |  | $11.44 |
| Total return (2) | 12.32% | 22.73 | % | 14.55 |
| Net assets, at end of year (000s) | $148678 | $90959 |  | $12808 |
| Ratio of gross expenses to average net assets before expense reimbursement (3)(4) | 1.13% | 1.18 | % | 2.64 |
| Ratio of net expenses to average net assets after expense reimbursement (4) | 0.94% | 0.94 | % | 0.95 |
| Ratio of net investment income (loss) to average net assets (4)(5) | 0.34% | 0.24 | % | 0.08 |
| Portfolio Turnover Rate | 50% | 101 | % | 48 |

---

\* Eventide Large Cap Focus Fund Class N commenced operations on June 30, 2022.

(1) Per share amounts calculated using the average shares method.

(2) Total return in the above table is historical in nature and represents the rate that the investor would have earned or lost on an investment in the Fund assuming reinvestment of dividends and capital gain distributions, if any. Had the advisor not waived a portion of the Fund's expenses in certain periods, total returns would have been lower.

(3) Represents the ratio of expenses to average net assets absent fee waivers and/or expense reimbursements by the advisor.

(4) The ratios of expenses to average net assets and net investment income to average net assets do not reflect the expenses of the underlying investment companies in which the Fund invests.

(5) Recognition of net investment income is affected by the timing and declaration of dividends by the underlying investment companies in which the Fund invests.

(6) Amount represents less than $0.01 per share.

(7) The ratio includes 0.01% for the year ended June 30, 2023 attributed to line of credit fees.

---

| | |
|:---|:---|
| **EVENTIDE** | **166** |
| **EVENTIDE** | **166** |

---

---

| | |
|:---|:---|
| **P r o s p e c t u s**  | **N o v e m b e r 1, 2 0 2 5** |

---

Appendix A Intermediary-Specific Sales Charge Reductions and Waivers

Specific intermediaries may have different policies and procedures regarding the availability of sales charge reductions and waivers, which are discussed below. In all instances, it is the shareholder's responsibility to notify the Fund or the shareholder's financial intermediary at the time of purchase of any relationship or other facts qualifying the shareholder for sales charge reductions or waivers.

**EDWARD D. JONES & CO., L.P. ("Edward Jones")**

*Policies Regarding Transactions Through Edward Jones:* 

**Effective on or after January 1st, 2024, the following information supersedes prior information with respect to transactions and positions held in fund shares through an Edward Jones system. Clients of Edward Jones (also referred to as "shareholders") purchasing fund shares on the Edward Jones commission and fee-based platforms are eligible only for the following sales charge discounts (also referred to as "breakpoints") and waivers, which can differ from discounts and waivers described elsewhere in the mutual fund prospectus or statement of additional information ("SAI") or through another broker-dealer. In all instances, it is the shareholder's responsibility to inform Edward Jones at the time of purchase of any relationship, holdings of Eventide Funds, or other facts qualifying the purchaser for discounts or waivers. Edward Jones can ask for documentation of such circumstance. Shareholders should contact Edward Jones if they have questions regarding their eligibility for these discounts and waivers.**

**Breakpoints**

● Breakpoint pricing, otherwise known as volume pricing, at dollar thresholds as described in the prospectus.

---

| | |
|:---|:---|
| **EVENTIDE** | **167** |
| **EVENTIDE** | **167** |

---

---

| | |
|:---|:---|
| **P r o s p e c t u s**  | **N o v e m b e r 1, 2 0 2 5** |

---

**Rights of Accumulation ("ROA")**

● The applicable sales charge on a purchase of Class A shares is determined by taking into account all share classes (except certain money market funds and any assets held in group retirement plans) of Eventide Funds held by the shareholder or in an account grouped by Edward Jones with other accounts for the purpose of providing certain pricing considerations ("pricing groups"). If grouping assets as a shareholder, this includes all share classes held on the Edward Jones platform and/or held on another platform. The inclusion of eligible Eventide Fund assets in the ROA calculation is dependent on the shareholder notifying Edward Jones of such assets at the time of calculation. Money market funds are included only if such shares were sold with a sales charge at the time of purchase or acquired in exchange for shares purchased with a sales charge.

● The employer maintaining a SEP IRA plan and/or SIMPLE IRA plan may elect to establish or change ROA for the IRA accounts associated with the plan to a plan-level grouping as opposed to including all share classes at a shareholder or pricing group level.

● ROA is determined by calculating the higher of cost minus redemptions or market value (current shares x NAV).

**Letter of Intent ("LOI")**

● Through a LOI, shareholders can receive the sales charge and breakpoint discounts for purchases shareholders intend to make over a 13-month period from the date Edward Jones receives the LOI. The LOI is determined by calculating the higher of cost or market value of qualifying holdings at LOI initiation in combination with the value that the shareholder intends to buy over a 13-month period to calculate the front-end sales charge and any breakpoint discounts. Each purchase the shareholder makes during that 13-month period will receive the sales charge and breakpoint discount that applies to the total amount. The inclusion of eligible Eventide Fund assets in the LOI calculation is dependent on the shareholder notifying Edward Jones of such assets at the time of calculation. Purchases made before the LOI is received by Edward Jones are not adjusted under the LOI and will not reduce the sales charge previously paid. Sales charges will be adjusted if LOI is not met.

● If the employer maintaining a SEP IRA plan and/or SIMPLE IRA plan has elected to establish or change ROA for the IRA accounts associated with the plan to a plan-level grouping, LOIs will also be at the plan-level and may only be established by the employer.

**Sales Charge Waivers**

Sales charges are waived for the following shareholders and in the following situations:

● Associates of Edward Jones and its affiliates and other accounts in the same pricing group (as determined by Edward Jones under its policies and procedures) as the associate. This waiver will continue for the remainder of the associate's life if the associate retires from Edward Jones in good-standing and remains in good standing pursuant to Edward Jones' policies and procedures.

● Shares purchased in an Edward Jones fee-based program.

● Shares purchased through reinvestment of capital gains distributions and dividend reinvestment.

● Shares purchased from the proceeds of redeemed shares of the same Eventide Fund so long as the following conditions are met: the proceeds are from the sale of shares within 60 days of the purchase, the sale and purchase are made from a share class that charges a front load and one of the following ("Right of Reinstatement"):

○ The redemption and repurchase occur in the same account.

---

| | |
|:---|:---|
| **EVENTIDE** | **168** |
| **EVENTIDE** | **168** |

---

---

| | |
|:---|:---|
| **P r o s p e c t u s**  | **N o v e m b e r 1, 2 0 2 5** |

---

○ The redemption proceeds are used to process an: IRA contribution, excess contributions, conversion, recharacterizing of contributions, or distribution, and the repurchase is done in an account within the same Edward Jones grouping for ROA.

The Right of Reinstatement excludes systematic or automatic transactions including, but not limited to, purchases made through payroll deductions, liquidations to cover account fees, and reinvestments from non-mutual fund products.

● Shares exchanged into Class A shares from another share class so long as the exchange is into the same fund and was initiated at the discretion of Edward Jones. Edward Jones is responsible for any remaining CDSC due to the fund company, if applicable. Any future purchases are subject to the applicable sales charge as disclosed in the prospectus.

● Exchanges from Class C shares to Class A shares of the same fund, generally, in the 84th month following the anniversary of the purchase date or earlier at the discretion of Edward Jones.

● Purchases of Class 529-A shares through a rollover from either another education savings plan or a security used for qualified distributions.

● Purchases of Class 529-A shares made for recontribution of refunded amounts.

**Contingent Deferred Sales Charge ("CDSC") Waivers**

If the shareholder purchases shares that are subject to a CDSC and those shares are redeemed before the CDSC is expired, the shareholder is responsible to pay the CDSC except in the following conditions:

● The death or disability of the shareholder.

● Systematic withdrawals with up to 10% per year of the account value.

● Return of excess contributions from an Individual Retirement Account (IRA).

● Shares redeemed as part of a required minimum distribution for IRA and retirement accounts if the redemption is taken in or after the year the shareholder reaches qualified age based on applicable IRS regulations.

● Shares redeemed to pay Edward Jones fees or costs in such cases where the transaction is initiated by Edward Jones.

● Shares exchanged in an Edward Jones fee-based program.

● Shares acquired through NAV reinstatement.

● Shares redeemed at the discretion of Edward Jones for Minimums Balances, as described below.

**<u>Other Important Information Regarding Transactions Through Edward Jones</u>**

**Minimum Purchase Amounts**

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;■ Initial
purchase minimum: $250

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;■ Subsequent
purchase minimum: none

Minimum Balances

● Edward Jones has the right to redeem at its discretion fund holdings with a balance of $250 or less. The following are examples of accounts that are not included in this policy:

○ A fee-based account held on an Edward Jones platform

○ A 529 account held on an Edward Jones platform

---

| | |
|:---|:---|
| **EVENTIDE** | **169** |
| **EVENTIDE** | **169** |

---

---

| | |
|:---|:---|
| **P r o s p e c t u s**  | **N o v e m b e r 1, 2 0 2 5** |

---

○ An account with an active systematic investment plan or LOI

**Exchanging Share Classes**

● At any time it deems necessary, Edward Jones has the authority to exchange at NAV a shareholder's holdings in a fund to Class A shares of the same fund.

MERRILL LYNCH

Purchases or sales of front-end (for example, Class A) or level-load (for example, Class C) mutual fund shares through a Merrill platform or account will be eligible only for the following sales load waivers (front-end, contingent deferred, or back-end waivers) and discounts, which differ from those disclosed elsewhere in this Fund's prospectus. Purchasers will have to buy mutual fund shares directly from the mutual fund company or through another intermediary to be eligible for waivers or discounts not listed below.

It is the client's responsibility to notify Merrill at the time of purchase or sale of any relationship or other facts that qualify the transaction for a waiver or discount. A Merrill representative may ask for reasonable documentation of such facts and Merrill may condition the granting of a waiver or discount on the timely receipt of such documentation.

Additional information on waivers, discounts, and share class exchanges is available in the Merrill Sales Load Waiver and Discounts Supplement (the "Merrill SLWD Supplement") and in the Mutual Fund Investing at Merrill pamphlet at ml.com/funds. Clients are encouraged to review these documents and speak with their financial advisor to determine whether a transaction is eligible for a waiver or discount.

Front-end Load Waivers on Class A Shares available at Merrill Lynch

Shares of mutual funds available for purchase by employer-sponsored retirement, deferred compensation, and employee benefit plans (including health savings accounts) and trusts used to fund those plans provided the shares are not held in a commission-based brokerage account and shares are held for the benefit of the plan. For purposes of this provision, employer-sponsored retirement plans do not include SEP IRAs, Simple IRAs, SAR-SEPs or Keogh plans

Shares purchased through a Merrill investment advisory program

Brokerage class shares exchanged from advisory class shares due to the holdings moving from a Merrill investment advisory program to a Merrill brokerage account

Shares purchased through the Merrill Edge Self-Directed platform

Shares purchased through the systematic reinvestment of capital gains distributions and dividend reinvestment when purchasing shares of the same mutual fund in the same account

Shares exchanged from level-load shares to front-end load shares of the same mutual fund in accordance with the description in the Merrill SLWD Supplement

Shares purchased by eligible employees of Merrill or its affiliates and their family members who purchase shares in accounts within the employee's Merrill Household (as defined in the Merrill SLWD Supplement)

---

| | |
|:---|:---|
| **EVENTIDE** | **170** |
| **EVENTIDE** | **170** |

---

---

| | |
|:---|:---|
| **P r o s p e c t u s**  | **N o v e m b e r 1, 2 0 2 5** |

---

Shares purchased by eligible persons associated with the fund as defined in this prospectus (e.g. the fund's officers or trustees)

Shares purchased from the proceeds of a mutual fund redemption in front-end load shares provided (1) the repurchase is in a mutual fund within the same fund family; (2) the repurchase occurs within 90 calendar days from the redemption trade date, and (3) the redemption and purchase occur in the same account (known as Rights of Reinstatement). Automated transactions (i.e. systematic purchases and withdrawals) and purchases made after shares are automatically sold to pay Merrill's account maintenance fees are not eligible for Rights of Reinstatement

CDSC Waivers on Front-end, Back-end, and Level Load Shares Available at Merrill

Shares sold due to the client's death or disability (as defined by Internal Revenue Code Section 22(e)(3))

Shares sold pursuant to a systematic withdrawal program subject to Merrill's maximum systematic withdrawal limits as described in the Merrill SLWD Supplement

Shares sold due to return of excess contributions from an IRA account

Shares sold as part of a required minimum distribution for IRA and retirement accounts due to the investor reaching the qualified age based on applicable IRS regulation

Front-end or level-load shares held in commission-based, non-taxable retirement brokerage accounts (e.g. traditional, Roth, rollover, SEP IRAs, Simple IRAs, SAR-SEPs or Keogh plans) that are transferred to fee-based accounts or platforms and exchanged for a lower cost share class of the same mutual fund

Front-end Load Discounts Available at Merrill: Breakpoints, Rights of Accumulation & Letters of Intent

Breakpoint discounts, as described in this prospectus, where the sales load is at or below the maximum sales load that Merrill permits to be assessed to a front-end load purchase, as described in the Merrill SLWD Supplement

Rights of Accumulation (ROA), as described in the Merrill SLWD Supplement, which entitle clients to breakpoint discounts based on the aggregated holdings of mutual fund family assets held in accounts in their Merrill Household

On or about May 1, 2026, assets not held at Merrill will no longer be included in the ROA calculation. For more detail on the timing and calculation, please refer to the Merrill SLWD Supplement.

Letters of Intent (LOI), which allow for breakpoint discounts on eligible new purchases based on anticipated future eligible purchases within a fund family at Merrill, in accounts within your Merrill Household, as further described in the Merrill SLWD Supplement

On or about May 1, 2026, Merrill will no longer accept new LOIs. For more detail on the timing, please refer to the Merrill SLWD Supplement.

RBC CAPITAL MARKETS, LLC ("RBC")

Front-end Sales Load Waivers on Class A Shares available at RBC

&nbsp;&nbsp;&nbsp;&nbsp;■ Employee-sponsored
retirement plans.

---

| | |
|:---|:---|
| **EVENTIDE** | **171** |
| **EVENTIDE** | **171** |

---

---

| | |
|:---|:---|
| **P r o s p e c t u s**  | **N o v e m b e r 1, 2 0 2 5** |

---

MORGAN STANLEY WEALTH MANAGEMENT

Effective July 1, 2018, shareholders purchasing Fund shares through a Morgan Stanley Wealth Management ("Morgan Stanley") transactional brokerage account will be eligible only for the following front-end sales charge waivers with respect to Class A shares, which may differ from and may be more limited than those disclosed elsewhere in this Fund's Prospectus or SAI.

Front-end Sales Charge Waivers on Class A Shares available at Morgan Stanley

&nbsp;&nbsp;&nbsp;&nbsp;■ Employer-sponsored
retirement plans (e.g., 401(k) plans, 457 plans, employer-sponsored 403(b) plans, profit sharing and money purchase pension plans and
defined benefit plans). For purposes of this provision, employer-sponsored retirement plans do not include SEP IRAs, Simple IRAs, SAR-SEPs
or Keogh plans

&nbsp;&nbsp;&nbsp;&nbsp;■ Morgan
Stanley employee and employee-related accounts according to Morgan Stanley's account linking rules

&nbsp;&nbsp;&nbsp;&nbsp;■ Shares
purchased through reinvestment of dividends and capital gains distributions when purchasing shares of the same fund

&nbsp;&nbsp;&nbsp;&nbsp;■ Shares
purchased through a Morgan Stanley self-directed brokerage account

&nbsp;&nbsp;&nbsp;&nbsp;■ Class
C (i.e., level-load) shares that are no longer subject to a contingent deferred sales charge and are converted to Class A shares of the
same fund pursuant to Morgan Stanley Wealth Management's share class conversion program

&nbsp;&nbsp;&nbsp;&nbsp;■ Shares
purchased from the proceeds of redemptions within the same fund family, provided (i) the repurchase occurs within 90 days following the
redemption, (ii) the redemption and purchase occur in the same account, and (iii) redeemed shares were subject to a front-end or deferred
sales charge.

RAYMOND JAMES & ASSOCIATES, INC., RAYMOND JAMES FINANCIAL SERVICES, INC. AND EACH ENTITY'S AFFILIATES ("RAYMOND JAMES")

Effective March 1, 2019, shareholders purchasing fund shares through a Raymond James platform or account, or through an introducing broker-dealer or independent registered investment adviser for which Raymond James provides trade execution, clearance, and/or custody services, will be eligible only for the following load waivers (front-end sales charge waivers and contingent deferred, or back-end, sales charge waivers) and discounts, which may differ from those disclosed elsewhere in this fund's prospectus or SAI.

Front-end sales load waivers on Class A shares available at Raymond James

&nbsp;&nbsp;&nbsp;&nbsp;■ Shares
purchased in an investment advisory program.

&nbsp;&nbsp;&nbsp;&nbsp;■ Shares
purchased within the same fund family through a systematic reinvestment of capital gains and dividend distributions.

&nbsp;&nbsp;&nbsp;&nbsp;■ Employees
and registered representatives of Raymond James or its affiliates and their family members as designated by Raymond James.

&nbsp;&nbsp;&nbsp;&nbsp;■ Shares
purchased from the proceeds of redemptions within the same fund family, provided (1) the repurchase occurs within 90 days following the
redemption, (2) the redemption and purchase occur in the same account, and (3) redeemed shares were subject to a front-end or deferred
sales load (known as Rights of Reinstatement).

---

| | |
|:---|:---|
| **EVENTIDE** | **172** |
| **EVENTIDE** | **172** |

---

---

| | |
|:---|:---|
| **P r o s p e c t u s**  | **N o v e m b e r 1, 2 0 2 5** |

---

&nbsp;&nbsp;&nbsp;&nbsp;■ A
shareholder in the Fund's Class C shares will have their shares converted at net asset value to Class A shares (or the appropriate
share class) of the Fund if the shares are no longer subject to a CDSC and the conversion is in line with the policies and procedures
of Raymond James.

&nbsp;&nbsp;&nbsp;&nbsp;■ Death
or disability of the shareholder.

&nbsp;&nbsp;&nbsp;&nbsp;■ Shares
sold as part of a systematic withdrawal plan as described in the fund's prospectus.

&nbsp;&nbsp;&nbsp;&nbsp;■ Return
of excess contributions from an IRA Account.

&nbsp;&nbsp;&nbsp;&nbsp;■ Shares
sold as part of a required minimum distribution for IRA and retirement accounts due to the shareholder reaching the qualified age based
on applicable IRS regulations as described in the fund's prospectus.

&nbsp;&nbsp;&nbsp;&nbsp;■ Shares
sold to pay Raymond James fees but only if the transaction is initiated by Raymond James.

&nbsp;&nbsp;&nbsp;&nbsp;■ Shares
acquired through a right of reinstatement.

Front-end load discounts available at Raymond James: breakpoints, rights of accumulation, and/or letters of intent

&nbsp;&nbsp;&nbsp;&nbsp;■ Breakpoints
as described in this prospectus.

&nbsp;&nbsp;&nbsp;&nbsp;■ Rights
of accumulation which entitle shareholders to breakpoint discounts will be automatically calculated based on the aggregated holding of
fund family assets held by accounts within the purchaser's household at Raymond James. Eligible fund family assets not held at
Raymond James may be included in the calculation of rights of accumulation only if the shareholder notifies his or her financial advisor
about such assets.

&nbsp;&nbsp;&nbsp;&nbsp;■ Letters
of intent which allow for breakpoint discounts based on anticipated purchases within a fund family, over a 13-month time period. Eligible
fund family assets not held at Raymond James may be included in the calculation of letters of intent only if the shareholder notifies
his or her financial advisor about such assets.

JANNEY MONTGOMERY SCOTT LLC

Effective May 1, 2020, if you purchase fund shares through a Janney Montgomery Scott LLC ("Janney") brokerage account, you will be eligible for the following load waivers (front-end sales charge waivers and contingent deferred sales charge ("CDSC"), or back-end sales charge, waivers) and discounts, which may differ from those disclosed elsewhere in this fund's Prospectus or SAI.

Front-end sales charge\* waivers on Class A shares available at Janney

&nbsp;&nbsp;&nbsp;&nbsp;■ Shares
purchased through reinvestment of capital gains distributions and dividend reinvestment when purchasing shares of the same fund (but
not any other fund within the fund family).

&nbsp;&nbsp;&nbsp;&nbsp;■ Shares
purchased by employees and registered representatives of Janney or its affiliates and their family members as designated by Janney.

&nbsp;&nbsp;&nbsp;&nbsp;■ Shares
purchased from the proceeds of redemptions within the same fund family, provided (1) the repurchase occurs within ninety (90) days following
the redemption, (2) the redemption and purchase occur in the same account, and (3) redeemed shares were subject to a front-end or deferred
sales load (i.e., right of reinstatement).

&nbsp;&nbsp;&nbsp;&nbsp;■ Employer-sponsored
retirement plans (e.g., 401(k) plans, 457 plans, employer-sponsored 403(b) plans, profit sharing and money purchase pension plans and
defined benefit plans). For purposes of this provision, employer-sponsored retirement plans do not include SEP IRAs, Simple IRAs, SAR-SEPs
or Keogh plans.

&nbsp;&nbsp;&nbsp;&nbsp;■ Shares
acquired through a right of reinstatement.

---

| | |
|:---|:---|
| **EVENTIDE** | **173** |
| **EVENTIDE** | **173** |

---

---

| | |
|:---|:---|
| **P r o s p e c t u s**  | **N o v e m b e r 1, 2 0 2 5** |

---

&nbsp;&nbsp;&nbsp;&nbsp;■ Class
C shares that are no longer subject to a contingent deferred sales charge and are converted to Class A shares of the same fund pursuant
to Janney's policies and procedures.

Front-end sales charge\* discounts available at Janney: breakpoints, rights of accumulation, and/or letters of intent

&nbsp;&nbsp;&nbsp;&nbsp;■ Breakpoints
as described in the fund's Prospectus.

&nbsp;&nbsp;&nbsp;&nbsp;■ Rights
of accumulation ("ROA"), which entitle shareholders to breakpoint discounts, will be automatically calculated based on the
aggregated holding of fund family assets held by accounts within the purchaser's household at Janney. Eligible fund family assets
not held at Janney may be included in the ROA calculation only if the shareholder notifies his or her financial advisor about such assets.

&nbsp;&nbsp;&nbsp;&nbsp;■ Letters
of intent which allow for breakpoint discounts based on anticipated purchases within a fund family, over a 13-month time period. Eligible
fund family assets not held at Janney Montgomery Scott may be included in the calculation of letters of intent only if the shareholder
notifies his or her financial advisor about such assets.

\* Also referred to as an "initial sales charge."

ROBERT W. BAIRD & CO. ("Baird")

Effective June 15, 2020, shareholders purchasing Fund shares through a Baird platform or account will only be eligible for the following sales charge waivers (front-end sales charge waivers and CDSC waivers) and discounts, which may differ from those disclosed elsewhere in this prospectus or the SAI.

Front-End Sales Charge Waivers on Class A Shares Available at Baird

&nbsp;&nbsp;&nbsp;&nbsp;■ Shares
purchased through reinvestment of capital gains distributions and dividend reinvestment when purchasing shares of the same Fund

&nbsp;&nbsp;&nbsp;&nbsp;■ Share
purchase by employees and registers representatives of Baird or its affiliate and their family members as designated by Baird

&nbsp;&nbsp;&nbsp;&nbsp;■ Shares
purchased using the proceeds of redemptions within the same fund family, provided (1) the repurchase occurs within 90 days following
the redemption, (2) the redemption and purchase occur in the same accounts, and (3) redeemed shares were subject to a front-end or deferred
sales charge (known as rights of reinstatement)

&nbsp;&nbsp;&nbsp;&nbsp;■ A
shareholder in the Funds' Class C shares will have their shares converted at net asset value to Class A shares of the same Fund
if the shares are no longer subject to CDSC and the conversion is in line with the policies and procedures of Baird

&nbsp;&nbsp;&nbsp;&nbsp;■ Employer-sponsored
retirement plans or charitable accounts in a transactional brokerage account at Baird, including 401(k) plans, 457 plans, employer-sponsored
403(b) plans, profit sharing and money purchase pension plans and defined benefit plans. For purposes of this provision, employer-sponsored
retirement plans do not include SEP IRAs, Simple IRAs or SAR-SEPs

CDSC Waivers on Class A and C shares Available at Baird

&nbsp;&nbsp;&nbsp;&nbsp;■ Shares
sold due to death or disability of the shareholder

&nbsp;&nbsp;&nbsp;&nbsp;■ Shares
sold as part of a systematic withdrawal plan as described in the Fund's Prospectus

&nbsp;&nbsp;&nbsp;&nbsp;■ Shares
bought due to returns of excess contributions from an IRA Account

---

| | |
|:---|:---|
| **EVENTIDE** | **174** |
| **EVENTIDE** | **174** |

---

---

| | |
|:---|:---|
| **P r o s p e c t u s**  | **N o v e m b e r 1, 2 0 2 5** |

---

&nbsp;&nbsp;&nbsp;&nbsp;■ Shares
sold as part of a required minimum distribution for IRA and retirement accounts due to the shareholder reaching the qualified age based
on applicable Internal Revenue Service regulations

&nbsp;&nbsp;&nbsp;&nbsp;■ Shares
sold to pay Baird fees but only if the transaction is initiated by Baird

&nbsp;&nbsp;&nbsp;&nbsp;■ Shares
acquired through a right of reinstatement

Front-End Sales Charge Discounts Available at Baird: Breakpoints and/or Rights of Accumulations

&nbsp;&nbsp;&nbsp;&nbsp;■ Breakpoints
as described in this prospectus

&nbsp;&nbsp;&nbsp;&nbsp;■ Rights
of accumulations which entitles shareholders to breakpoint discounts will be automatically calculated based on the aggregated holding
of Fund assets held by accounts within the purchaser's household at Baird. Eligible Fund assets not held at Baird may be included
in the rights of accumulations calculation only if the shareholder notifies his or her financial advisor about such assets

&nbsp;&nbsp;&nbsp;&nbsp;■ Letters
of Intent (LOI) allow for breakpoint discounts based on anticipated purchases of Funds through Baird, over a 13-month period of time.

AMERIPRISE FINANCIAL

Class A Shares Front-End Sales Charge Waivers

*The following information applies to Class A shares purchases if you have an account with or otherwise purchase Fund shares through Ameriprise Financial:* 

**Front-end sales charge reductions on Class A shares purchased through Ameriprise Financial**

Shareholders purchasing Class A shares of the fund through an Ameriprise Financial platform or account are eligible only for the following sales charge reductions, which may differ from those disclosed elsewhere in this prospectus or the SAI. Such shareholders can reduce their initial sales charge on the purchase of Class A shares as follows:

&nbsp;&nbsp;&nbsp;&nbsp;■ Transaction
size breakpoints, as described in this prospectus or the SAI.

&nbsp;&nbsp;&nbsp;&nbsp;■ Rights
of accumulation (ROA), as described in this prospectus or the SAI.

&nbsp;&nbsp;&nbsp;&nbsp;■ Letter
of intent, as described in this prospectus or the SAI.

**Front-end sales charge waivers on Class A shares purchased through Ameriprise Financial**

**Shareholders purchasing Class A shares of the fund through an Ameriprise Financial platform or account are eligible only for the following sales charge waivers, which may differ from those disclosed elsewhere in this prospectus or the SAI. Such shareholders may purchase Class A shares at NAV without payment of a sales charge as follows:**

&nbsp;&nbsp;&nbsp;&nbsp;■ shares
purchased by employer-sponsored retirement plans (e.g., 401(k) plans, 457 plans, employer- sponsored 403(b) plans, profit sharing and
money purchase pension plans and defined benefit plans). For purposes of this provision, employer-sponsored retirement plans do not include
SEP IRAs, Simple IRAs or SAR-SEPs.

&nbsp;&nbsp;&nbsp;&nbsp;■ shares
purchased through reinvestment of capital gains and dividend reinvestment when purchasing shares of the same fund (but not any other
fund within the same fund family).

&nbsp;&nbsp;&nbsp;&nbsp;■ shares
exchanged from Class C shares of the same fund in the month of or following the seven-year anniversary of the purchase date. To the extent
that this prospectus elsewhere provides for a waiver with

---

| | |
|:---|:---|
| **EVENTIDE** | **175** |
| **EVENTIDE** | **175** |

---

---

| | |
|:---|:---|
| **P r o s p e c t u s**  | **N o v e m b e r 1, 2 0 2 5** |

---

respect to such shares following a shorter holding period, that waiver will apply to exchanges following such shorter period. To the extent that this prospectus elsewhere provides for a waiver with respect to exchanges of Class C shares for load waived shares, that waiver will also apply to such exchanges.

&nbsp;&nbsp;&nbsp;&nbsp;■ shares
purchased by employees and registered representatives of Ameriprise Financial or its affiliates and their immediate family members.

&nbsp;&nbsp;&nbsp;&nbsp;■ shares
purchased by or through qualified accounts (including IRAs, Coverdell Education Savings Accounts, 401(k)s, 403(b) TSCAs subject to ERISA
and defined benefit plans) that are held by a covered family member, defined as an Ameriprise Financial advisor and/or the advisor's
spouse, advisor's lineal ascendant (mother, father, grandmother, grandfather, great grandmother, great grandfather), advisor's lineal
descendant (son, step-son, daughter, step-daughter, grandson, granddaughter, great grandson, great granddaughter) or any spouse of a
covered family member who is a lineal descendant.

&nbsp;&nbsp;&nbsp;&nbsp;■ shares
purchased from the proceeds of redemptions within the same fund family, provided (1) the repurchase occurs within 90 days following the
redemption, (2) the redemption and purchase occur in the same account, and (3) redeemed shares were subject to a front-end or deferred
sales load (i.e. Rights of Reinstatement).

**CDSC waivers on Class A and C shares purchased through Ameriprise Financial**

Fund shares purchased through an Ameriprise Financial platform or account are eligible only for the following CDSC waivers, which may differ from those disclosed elsewhere in this prospectus or the SAI:

&nbsp;&nbsp;&nbsp;&nbsp;■ redemptions
due to death or disability of the shareholder

&nbsp;&nbsp;&nbsp;&nbsp;■ shares
sold as part of a systematic withdrawal plan as described in this prospectus or the SAI

&nbsp;&nbsp;&nbsp;&nbsp;■ redemptions
made in connection with a return of excess contributions from an IRA account

&nbsp;&nbsp;&nbsp;&nbsp;■ shares
purchased through a Right of Reinstatement (as defined above)

&nbsp;&nbsp;&nbsp;&nbsp;■ redemptions
made as part of a required minimum distribution for IRA and retirement accounts pursuant to the Internal Revenue Code.

The information disclosed in the appendix is part of, and incorporated in, the prospectus.

Stifel

Effective November 1, 2025, shareholders purchasing or holding Eventide Fund Family shares, including existing fund shareholders, through a Stifel or affiliated platform that provides trade execution, clearance, and/or custody services, will be eligible for the following sales charge load waivers (including front-end sales charge waivers and contingent deferred, or back-end, (CDSC) sales charge waivers) and discounts, which may differ from those disclosed elsewhere in this prospectus or the Fund's SAI.

CLASS A SHARES

As described elsewhere in this prospectus, Stifel may receive compensation out of the front-end sales charge if you purchase Class A shares through Stifel.

Rights of accumulation

Rights of accumulation (ROA) that entitle shareholders to breakpoint discounts on front-end sales charges will be calculated by Stifel based on the aggregated holding of eligible assets in the Eventide Fund Family held by accounts within the purchaser's

---

| | |
|:---|:---|
| **EVENTIDE** | **176** |
| **EVENTIDE** | **176** |

---

---

| | |
|:---|:---|
| **P r o s p e c t u s**  | **N o v e m b e r 1, 2 0 2 5** |

---

household at Stifel. Ineligible assets include class A Money Market Funds not assessed a sales charge. Fund Family assets not held at Stifel may be included in the calculation of ROA only if the shareholder notifies his or her financial advisor about such assets.

The employer maintaining a SEP IRA plan and/or SIMPLE IRA plan may elect to establish or change ROA for the IRA accounts associated with the plan to a plan-level grouping as opposed to including all share classes at a shareholder or pricing group level.

Front-end sales charge waivers on Class A shares available at Stifel

● Class C shares that have been held for more than seven (7) years may be converted to Class A shares or other front-end share class(es) of the same fund pursuant to Stifel's policies and procedures. To the extent that this prospectus elsewhere provides for a waiver with respect to the exchange or conversion of such shares following a shorter holding period, those provisions shall continue to apply.

● Shares purchased by employees and registered representatives of Stifel or its affiliates and their family members as designated by Stifel.

● Shares purchased in a Stifel fee-based advisory program, often referred to as a "wrap" program.

● Shares purchased through reinvestment of capital gains distributions and dividend reinvestment when purchasing shares of the same or other fund within the Eventide Fund Family.

● Shares purchased from the proceeds of redeemed shares of Eventide Fund Family so long as the proceeds are from the sale of shares from an account with the same owner/beneficiary within 90 days of the purchase. For the absence of doubt, automated transactions (i.e. systematic purchases, including salary deferral transactions and withdrawals) and purchases made after shares are sold to cover Stifel Nicolaus' account maintenance fees are not eligible for rights of reinstatement.

● Shares from rollovers into Stifel from retirement plans to IRAs.

● Shares exchanged into Class A shares from another share class so long as the exchange is into the same fund and was initiated at the direction of Stifel. Stifel is responsible for any remaining CDSC due to the fund company, if applicable. Any future purchases are subject to the applicable sales charge as disclosed in this prospectus.

● Purchases of Class 529-A shares through a rollover from another 529 plan.

● Purchases of Class 529-A shares made for reinvestment of refunded amounts.

● Employer-sponsored retirement plans (e.g., 401(k) plans, 457 plans, employer-sponsored 403(b) plans, profit sharing and money purchase pension plans and defined benefit plans). For purposes of this provision, employer sponsored retirement plans do not include SEP IRAs, Simple IRAs or SAR-SEPs.

Contingent Deferred Sales Charges Waivers on Class A and C Shares

● Death or disability of the shareholder or, in the case of 529 plans, the account beneficiary.

● Shares sold as part of a systematic withdrawal plan not to exceed 12% annually.

● Return of excess contributions from an IRA Account.

● Shares sold as part of a required minimum distribution for IRA and retirement accounts due to the shareholder reaching the qualified age based on applicable IRS regulations.

● Shares acquired through a right of reinstatement.

● Shares sold to pay Stifel fees or costs in such cases where the transaction is initiated by Stifel.

● Shares exchanged or sold in a Stifel fee-based program.

Share Class Conversions in Advisory Accounts

● Stifel continually looks to provide our clients with the lowest cost share class available based on account type. Stifel reserves the right to convert shares to the lowest cost share class available at Stifel upon transfer of shares into an advisory program.

Wells Fargo Clearing Services, LLC and Wells Fargo Advisors Financial Network, LLC (collectively, "Wells Fargo Advisors")

Wells Fargo Clearing Services, LLC operates a First Clearing business, but these rules are not intended to include First Clearing firms.

Effective April 1, 2026, Clients of Wells Fargo Advisors purchasing fund shares through Wells Fargo Advisors are eligible for the following sales charge discounts (also referred to as "breakpoints") and waivers, which can differ from discounts and waivers described elsewhere in the prospectus or statement of additional information ("SAI"). In all instances, it is the investor's responsibility to inform Wells Fargo Advisors at the time of purchase of any relationship, holdings, or other facts qualifying the investor for discounts or waivers. Wells Fargo Advisors can ask for documentation supporting the qualification.

---

| | |
|:---|:---|
| **EVENTIDE** | **177** |
| **EVENTIDE** | **177** |

---

---

| | |
|:---|:---|
| **P r o s p e c t u s**  | **N o v e m b e r 1, 2 0 2 5** |

---

Wells Fargo Advisors Class A share front-end sales charge waivers information.

Wells Fargo Advisors clients purchasing or converting to Class A shares of the fund in a Wells Fargo Advisors brokerage account are entitled to a waiver of the front-end load in the following circumstances:

● Wells Fargo Advisors employee and employee-related accounts according to Wells Fargo Advisor's employee account linking rules. Legacy accounts and positions receiving affiliate discounts prior to the effective date will continue to receive discounts. Going forward employees of affiliate businesses will not be offered NAV.

● Shares purchased through reinvestment of dividends and capital gains distributions when purchasing shares of the same fund.

WellsTrade, the firm's online self-directed brokerage account, generally offers no-load share classes but there could be instances where a Class A share is offered without a front-end sales charge.

Wells Fargo Advisors Class 529-A share front-end sales charge waivers information.

Wells Fargo Advisors clients purchasing or converting to Class 529-A shares of the fund through Wells Fargo Advisors transactional brokerage accounts are entitled to a waiver of the front-end load in the following circumstances:

● Shares purchased through a rollover from another 529 plan.

● Recontribution(s) of distributed funds are only allowed during the NAV reinstatement period as dictated by the sponsor's specifications outlined by the plan.

Wells Fargo Advisors is not able to apply the NAV Reinstatement privilege for 529 Plan account purchases placed directly at the fund company. Investors wishing to utilize this privilege outside of Wells Fargo systems will need to do so directly with the Plan or a financial intermediary that supports this feature.

Unless specifically described above, other front-end load waivers are not available on mutual fund purchases through Wells Fargo Advisors.

Wells Fargo Advisors Contingent Deferred Sales Charge information.

● Contingent deferred sales charges (CDSC) imposed on fund redemptions will not be rebated based on future purchases.

Wells Fargo Advisors Class A front-end load discounts

Wells Fargo Advisors Clients purchasing Class A shares of the fund through Wells Fargo Advisors brokerage accounts will follow the following aggregation rules for breakpoint discounts:

● Effective April 1, 2026, SEP or SIMPLE IRAs will not be aggregated as a group plan. They will aggregate with the client's personal accounts based on Social Security Number. Previously established SEP and SIMPLE IRAs may still be aggregated as a group plan.

● Effective April 1, 2026, Employer-sponsored retirement plan (e.g., 401(k) plans, 457 plans, employer-sponsored 403(b) plans, profit sharing and money purchase pension plans and defined benefit plans) accounts will aggregate with other plan accounts under the same Tax ID and will not be aggregated with other retirement plan accounts under a different Tax ID or personal accounts. For purposes of this provision, employer-sponsored retirement plans do not include SEP IRAs, SIMPLE IRAs, SAR-SEPs or Keogh plans.

● Gift of shares will not be considered when determining breakpoint discounts

---

| | |
|:---|:---|
| **EVENTIDE** | **178** |
| **EVENTIDE** | **178** |

---

---

| | |
|:---|:---|
| **P r o s p e c t u s**  | **N o v e m b e r 1, 2 0 2 5** |

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Privacy Notice <br><u>Mutual Fund Series Trust</u> <u>Rev. August 2021</u>

<u>FACTS</u> WHAT DOES MUTUAL FUND SERIES TRUST DO WITH YOUR PERSONAL INFORMATION?

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| | |
|:---|:---|
| &nbsp;&nbsp;Why? | &nbsp;&nbsp;Financial companies choose how they share your personal information. Federal law gives consumers the right to limit some, but not all sharing. Federal law also requires us to tell you how we collect, share, and protect your personal information. Please read this notice carefully to understand what we do. |

---

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| | |
|:---|:---|
| &nbsp;&nbsp;What? | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The types of personal information we collect and share depends on the product or service that you have with us. This information can include:<br>■&nbsp;&nbsp;&nbsp;&nbsp;Social Security number and wire transfer instructions<br>■&nbsp;&nbsp;&nbsp;&nbsp;account transactions and transaction history<br>■&nbsp;&nbsp;&nbsp;&nbsp;investment experience and purchase history<br>When you are *no longer* our customer, we continue to share your information as described in this notice. |

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| | |
|:---|:---|
| &nbsp;&nbsp;How? | &nbsp;&nbsp;All financial companies need to share customers' personal information to run their everyday business. In the section below, we list the reasons financial companies can share their customers' personal information; the reasons Mutual Fund Series Trust chooses to share; and whether you can limit this sharing. |

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| | | |
|:---|:---|:---|
| &nbsp;&nbsp;Reasons we can share your personal information: | &nbsp;&nbsp;Does Mutual Fund Series<br> Trust share information? | &nbsp;&nbsp;Can you limit this sharing? |
| &nbsp;&nbsp;For our everyday business purposes — such as to process your transactions, maintain your account(s), respond to court orders and legal investigations, or report to credit bureaus. | &nbsp;&nbsp;YES | &nbsp;&nbsp;NO |
| &nbsp;&nbsp;For our marketing purposes — to offer our products and services to you. | &nbsp;&nbsp;NO | &nbsp;&nbsp;We don't share |
| &nbsp;&nbsp;For joint marketing with other financial companies. | &nbsp;&nbsp;NO | &nbsp;&nbsp;We don't share |
| &nbsp;&nbsp;For our affiliates' everyday business purposes — information about your transactions and records. | &nbsp;&nbsp;NO | &nbsp;&nbsp;We don't share |
| &nbsp;&nbsp;For our affiliates' everyday business purposes — information about your credit worthiness. | &nbsp;&nbsp;NO | &nbsp;&nbsp;We don't share |
| &nbsp;&nbsp;For our affiliates to market to you. | &nbsp;&nbsp;NO | &nbsp;&nbsp;We don't share |
| &nbsp;&nbsp;For non-affiliates to market to you. | &nbsp;&nbsp;NO | &nbsp;&nbsp;We don't share |

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| | |
|:---|:---|
| **EVENTIDE** | **179** |
| **EVENTIDE** | **179** |

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---

| | |
|:---|:---|
| **P r o s p e c t u s**  | **N o v e m b e r 1, 2 0 2 5** |

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Privacy Notice <br><u>Mutual Fund Series Trust</u> <u>Rev. August 2021</u>

---

| | |
|:---|:---|
| &nbsp;&nbsp;What we do: | &nbsp;&nbsp;What we do: |
| &nbsp;&nbsp;How does Mutual Fund Series Trust protect my personal information? | &nbsp;&nbsp;To protect your personal information from unauthorized access and use, we use security measures that comply with federal law. These measures include computer safeguards and secured files and buildings.<br>Our service providers are held accountable for adhering to strict policies and procedures to prevent any misuse of your nonpublic personal information. |
| &nbsp;&nbsp;How does Mutual Fund Series Trust collect my personal information? | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;We collect your personal information, for example, when you:<br>■&nbsp;&nbsp;&nbsp;&nbsp;open an account or deposit money<br>■&nbsp;&nbsp;&nbsp;&nbsp;direct us to buy securities or direct us to sell your securities<br>■&nbsp;&nbsp;&nbsp;&nbsp;seek advice about your investments<br>We also collect your personal information from others, such as credit bureaus, affiliates, or other companies. |
| &nbsp;&nbsp;Why can't I limit all sharing? | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Federal law gives you the right to limit only:<br>■&nbsp;&nbsp;&nbsp;&nbsp;sharing for affiliates' everyday business purposes – information about your creditworthiness.<br>■&nbsp;&nbsp;&nbsp;&nbsp;affiliates from using your information to market to you.<br>■&nbsp;&nbsp;&nbsp;&nbsp;sharing for non-affiliates to market to you.<br>State laws and individual companies may give you additional rights to limit sharing. |

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| | |
|:---|:---|
| &nbsp;&nbsp;**Definitions** | &nbsp;&nbsp;**Definitions** |
| &nbsp;&nbsp;Affiliates | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Companies related by common ownership or control. They can be financial and non-financial companies.<br>■&nbsp;&nbsp;&nbsp;&nbsp;Mutual Fund Series Trust does not share with affiliates. |
| &nbsp;&nbsp;Non-affiliates | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Companies not related by common ownership or control. They can be financial and non-financial companies.<br>■&nbsp;&nbsp;&nbsp;&nbsp;Mutual Fund Series Trust doesn't share with non-affiliates so they can market to you. |
| &nbsp;&nbsp;Joint marketing | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;A formal agreement between nonaffiliated financial companies that together market financial products or services to you.<br>■&nbsp;&nbsp;&nbsp;&nbsp;Mutual Fund Series Trust doesn't jointly market. |

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QUESTIONS? Call 1-877-771-3836

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| | |
|:---|:---|
| **EVENTIDE** | **180** |
| **EVENTIDE** | **180** |

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| | |
|:---|:---|
| **P r o s p e c t u s**  | **N o v e m b e r 1, 2 0 2 5** |

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For More Information

Several additional sources of information are available to you. The SAI, incorporated into (made legally part of) this Prospectus by reference, contains detailed information on Fund policies and operations, including policies and procedures relating to the disclosure of portfolio holdings by the Funds' affiliates. Financial Statements contain management's discussion of market conditions and investment strategies that significantly affected the Funds' performance results as of the Funds' latest semi-annual or annual fiscal year end.

Call the Funds at 877-771-3836 to request free copies of the SAI, the Financial Statements, to request other information about the Funds and to make shareholder inquiries. You may also obtain this information from the Funds' internet site at <u>www.eventidefunds.com</u>.

You may obtain reports and other information about the Funds on the EDGAR Database on the SEC's Internet site at <u>www.sec.gov</u>, and copies of this information may be obtained, after paying a duplicating fee, by electronic request at the following e-mail address: publicinfo@sec.gov.

Investment Company Act File No. 811-21872

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| | |
|:---|:---|
| **EVENTIDE** | **181** |
| **EVENTIDE** | **181** |

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![(EVENTIDE LOGO)](ev001_v1.jpg)

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| | |
|:---|:---|
| Statement of |  |
| Additional Information | November 1, 2025 |

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| | | | |
|:---|:---|:---|:---|
| Gilead Fund | Gilead Fund | Gilead Fund | Gilead Fund |
| ETAGX | Class A Shares | ETCGX | Class C Shares |
| ETGLX | Class N Shares | ETILX | Class I Shares |
| Healthcare & Life Sciences Fund | Healthcare & Life Sciences Fund | Healthcare & Life Sciences Fund | Healthcare & Life Sciences Fund |
| ETAHX | Class A Shares | ETCHX | Class C Shares |
| ETNHX | Class N Shares | ETIHX | Class I Shares |
| Balanced Fund | Balanced Fund | Balanced Fund |  |
| ETAMX | Class A Shares | ETCMX | Class C Shares |
| ETNMX | Class N Shares | ETIMX | Class I Shares |
| Dividend Growth Fund | Dividend Growth Fund | Dividend Growth Fund | Dividend Growth Fund |
| ETADX | Class A Shares | ETCDX | Class C Shares |
| ETNDX | Class N Shares | ETIDX | Class I Shares |
| Limited-Term Bond Fund | Limited-Term Bond Fund | Limited-Term Bond Fund | Limited-Term Bond Fund |
| ETABX | Class A Shares | ETCBX | Class C Shares |
| ETNBX | Class N Shares | ETIBX | Class I Shares |
| Exponential Technologies Fund | Exponential Technologies Fund | Exponential Technologies Fund | Exponential Technologies Fund |
| ETAEX | Class A Shares | ETCEX | Class C Shares |
| ETNEX | Class N Shares | ETIEX | Class I Shares |
| Core Bond Fund | Core Bond Fund | Core Bond Fund | Core Bond Fund |
| ETARX | Class A Shares | ETCRX | Class C Shares |
| ETNRX | Class N Shares | ETIRX | Class I Shares |
| Large Cap Focus Fund | Large Cap Focus Fund | Large Cap Focus Fund | Large Cap Focus Fund |
| ETLAX | Class A Shares | ETLCX | Class C Shares |
| ETLNX | Class N Shares | ETLIX | Class I Shares |

---

*This Statement of Additional Information ("SAI") is not a prospectus. It should be read in conjunction with the Prospectus of the Eventide Gilead Fund (the "Gilead Fund"), Eventide Healthcare & Life Sciences Fund (the "Healthcare & Life Sciences Fund"), Eventide Balanced Fund (the "Balanced Fund"), Eventide Dividend Growth Fund (the "Dividend Growth Fund"), Eventide Limited-Term Bond Fund (the "Limited-Term Bond Fund"), Eventide Exponential Technologies Fund (the "Exponential Technologies Fund"), Eventide Core Bond Fund (the "Core Bond Fund"), and Eventide Large Cap Focus Fund (the "Large Cap Focus Fund") (each a "Fund" and collectively, the "Funds") dated November 1, 2025. Each Fund is a separate series of Mutual Fund Series Trust (the "Trust"), an open-end management company organized as an Ohio business trust. This SAI has been incorporated in its entirety into the Prospectus. The SAI incorporates by reference the audited financial statements and report of Independent Registered Public Accounting Firm in the annual financial statements for the fiscal year ended June 30, 2025, for all the Funds (the "Financial Statements"). Copies of the Prospectus and the Financial Statements may be obtained at no charge from the Funds by writing to the above address or calling 1-877-771-3836.*

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| | |
|:---|:---|
| **EVENTIDE** | **1** |
| **EVENTIDE** | **1** |

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| | |
|:---|:---|
| **S T A T E M E N T O F A D D I T I O N A L I N F O R M A T I O N** | **N o v e m b e r 1, 2 0 2 5** |

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**Table of Contents**

---

| | |
|:---|:---|
| The Funds | 3 |
| Investment Restrictions | 4 |
| Other Investment Policies | 5 |
| Additional Information about Investments and Risks | 6 |
| Disclosure of Portfolio Holdings | 30 |
| Trustees and Officers | 31 |
| Share Ownership in the Funds | 38 |
| Principal Shareholders | 39 |
| Adviser and Sub-Adviser | 55 |
| Code of Ethics | 61 |
| Transfer Agent, Fund Accounting Agent and Financial Administrator | 61 |
| Compliance Services | 64 |
| Custodian | 64 |
| Independent Registered Public Accounting Firm | 64 |
| Counsel | 65 |
| Distributor | 65 |
| Additional Compensation to Financial Intermediaries | 70 |
| Proxy Voting Policy | 71 |
| Portfolio Turnover | 71 |
| Portfolio Transactions | 72 |
| Purchase and Redemption of Shares | 74 |
| Reduction of Up-Front Sales Charge on Class A Shares | 75 |
| Waivers of Up-Front Sales Charge on Class A Shares | 76 |
| Waivers of Deferred Sales Charge on Class C Shares | 76 |
| Exchange Privilege | 76 |
| Sales Charge Waivers and Reductions Available Through Certain Financial Intermediaries | 77 |
| Net Asset Value | 77 |
| Tax Information | 79 |
| Investments in Foreign Securities | 80 |
| Backup Withholding | 81 |
| Foreign Shareholders | 81 |
| Financial Statements | 82 |
| Appendix A: Description of Commerical Paper and Bond Ratings | 83 |
| Appendix B: Eventide Asset Management, LLC Proxy Voting Policies and Procedures | 86 |

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---

| | |
|:---|:---|
| **EVENTIDE** | **2** |
| **EVENTIDE** | **2** |

---

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| | |
|:---|:---|
| **S T A T E M E N T O F A D D I T I O N A L I N F O R M A T I O N** | **N o v e m b e r 1, 2 0 2 5** |

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The Funds

Eventide Asset Management, LLC ("Eventide" or the "Adviser") acts as the adviser to the Funds.

Boyd Watterson Asset Management, LLC ("Boyd Watterson" or the "Sub-Adviser") acts as the sub-adviser to all or a portion of the portfolios of the Balanced Fund, the Limited-Term Bond Fund and the Core Bond Fund.

The Trust does not issue share certificates. All shares are held in non-certificate form registered on the books of the Trust and the Trust's transfer agent for the account of the shareholder. Each share of a series represents an interest in the assets and liabilities belonging to that series and is entitled to such dividends and distributions out of income belonging to the respective class of that series as are declared by the Board. The shares do not have cumulative voting rights or any preemptive or conversion rights, and the Board has the authority from time to time to divide or combine the shares of any series into a greater or lesser number of shares of that series so long as the proportionate beneficial interest in the assets belonging to that series and the rights of shares of any other series are in no way affected. In case of any liquidation of a series, the holders of shares of the series being liquidated will be entitled to receive as a class a distribution out of the assets, net of the liabilities, belonging to that series. Expenses attributable to any series are borne by that series. There can be no assurance that a series will grow to an economically viable size, in which case the Board may determine to liquidate the series at a time that may not be opportune for shareholders. Any general expenses of the Trust not readily identifiable as belonging to a particular series are allocated by or under the direction of the Board in such manner as the Board determines to be fair and equitable. No shareholder is liable to further calls or to assessment by the Trust without his or her express consent.

Each Fund offers four classes of shares: Class A, Class C, Class N and Class I shares. Each share class represents an interest in the same assets of the Fund, has the same rights and is identical in all material respects except that (i) each class of shares may bear different distribution fees; (ii) each class of shares may be subject to different (or no) sales charges; (iii) certain other class specific expenses will be borne solely by the class to which such expenses are attributable; and (iv) each class has exclusive voting rights with respect to matters relating to its own distribution arrangements. The Board may classify and reclassify the shares of the Funds into additional classes of shares at a future date.

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| | |
|:---|:---|
| **EVENTIDE** | **3** |
| **EVENTIDE** | **3** |

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| | |
|:---|:---|
| **S T A T E M E N T O F A D D I T I O N A L I N F O R M A T I O N** | **N o v e m b e r 1, 2 0 2 5** |

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Investment Restrictions

The following investment restrictions are fundamental policies of each Fund unless otherwise indicated and cannot be changed unless the change is approved by the lesser of (a) 67% or more of the shares present at a meeting of shareholders if the holders of more than 50% of the outstanding voting shares of the Fund are present or represented by proxy or (b) more than 50% of the outstanding voting shares of the Fund.

As a matter of fundamental policy, each Fund (unless otherwise indicated) may not:

&nbsp;&nbsp;&nbsp;&nbsp;a) borrow
 money, except as permitted under the Investment Company Act of 1940, as amended (the "1940
 Act")\*, and as interpreted or modified by regulatory authority having jurisdiction,
 from time to time;

&nbsp;&nbsp;&nbsp;&nbsp;b) issue
 senior securities, except as permitted under the 1940 Act\*, and as interpreted or modified
 by regulatory authority having jurisdiction, from time to time;

&nbsp;&nbsp;&nbsp;&nbsp;c) engage
 in the business of underwriting securities issued by others, except to the extent that the
 Fund may be deemed to be an underwriter in connection with the disposition of portfolio securities;

&nbsp;&nbsp;&nbsp;&nbsp;d) purchase
 or sell real estate, which does not include securities of companies which deal in real estate
 or mortgages or investments secured by real estate or interests therein, except that the
 Fund reserves freedom of action to hold and to sell real estate acquired as a result of the
 Fund's ownership of securities;

&nbsp;&nbsp;&nbsp;&nbsp;e) purchase
 or sell physical commodities or forward contracts relating to physical commodities;

&nbsp;&nbsp;&nbsp;&nbsp;f) *(Gilead Fund and Healthcare & Life Sciences Fund only)* make loans to other persons, except
 (i) loans of portfolio securities, and (ii) to the extent that entry into repurchase agreements
 and the purchase of debt instruments or interests in indebtedness in accordance with the
 Fund's investment objective and policies may be deemed to be loans;

&nbsp;&nbsp;&nbsp;&nbsp;g) *(Balanced Fund, Dividend Growth Fund, Limited-Term Bond Fund and Core Bond Fund only)* make loans
 to others, except (a) where each loan is represented by a note executed by the borrower,
 (b) through the purchase of debt securities in accordance with its investment objectives
 and policies, (c) to the extent the entry into a repurchase agreement, in a manner consistent
 with the Fund's investment policies or as otherwise permitted under the 1940 Act, is
 deemed to be a loan, and (d) by loaning portfolio securities;

&nbsp;&nbsp;&nbsp;&nbsp;h) invest
 25% or more of its total assets in a particular industry or group of industries; except that:
 (i) the Healthcare & Life Sciences Fund will invest at least 25% in companies in
 the drug related industries. This group of industries includes pharmaceutical, biotech and
 similar companies that primarily develop, produce or distribute drugs, medicines, diagnostic
 chemicals and biological products used to diagnose, prevent or treat diseases or maintain
 health, (ii) the Exponential Technologies Fund will invest more than 25% in companies
 in the software, technology hardware and equipment, semiconductor, communications, and healthcare
 technology and devices group of industries, and (iii) the Large Cap Focus Fund
 will invest at least 25% in companies in the semiconductor and software industries.

This limitation is not applicable to investments in obligations issued or guaranteed by the U.S. government, its agencies and instrumentalities or repurchase agreements with respect thereto. A Fund will consider the investments of underlying investment companies when determining its compliance with this restriction; and

&nbsp;&nbsp;&nbsp;&nbsp;i) *(Gilead Fund, Healthcare & Life Sciences Fund, Balanced Fund, Dividend Growth Fund, Limited-Term Bond Fund, Core Bond Fund, and Large Cap Focus Fund only)* with respect to 75% of the
 Fund's total assets, purchase the securities of any issuer, except securities issued
 or guaranteed by the U.S. government or any of its agencies or instrumentalities or securities
 issued by other investment companies, if, as a result (i) more than 5% of the Fund's
 total assets would be invested in securities of that issuer, or (ii) the Fund would hold
 more than 10% of the outstanding voting securities of that issuer.

---

| | |
|:---|:---|
| **EVENTIDE** | **4** |
| **EVENTIDE** | **4** |

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| | |
|:---|:---|
| **S T A T E M E N T O F A D D I T I O N A L I N F O R M A T I O N** | **N o v e m b e r 1, 2 0 2 5** |

---

\* The 1940 Act limits a Fund's ability to borrow money, prohibiting the Fund from issuing senior securities, except the Fund may borrow from any bank provided that immediately after any such borrowing there is an asset coverage of at least 300% for all borrowings by the Fund and provided further, than in the event that such asset coverage shall at any time fall below 300%, the Fund shall, within three days thereafter or such longer period may prescribe by rules and regulations, reduce the amount of its borrowings to such an extent that the asset coverage of such borrowing shall be at least 300%.

With respect to interpretations of the SEC or its staff described in paragraph (b) above, the SEC and its staff have identified various securities trading practices and derivatives transactions used by mutual funds that give rise to potential senior security issues under Section 18(f) of the 1940 Act. However, rather than rigidly deeming all such practices as impermissible forms of issuing a "senior security" under Section 18(f), the SEC has adopted Rule 18f-4 under the 1940 Act, which permits a fund to enter into derivatives transactions and certain similar transactions notwithstanding the prohibitions and restrictions on the issuance of senior securities under Section 18(f) of the 1940 Act, subject to the conditions of the Rule.

Other Investment Policies

The following investment policies of each Fund (unless otherwise noted) are not fundamental and may be changed by the Board without the approval of the shareholders of the Fund:

&nbsp;&nbsp;&nbsp;&nbsp;a) The
Fund will not purchase securities or evidences of interest thereon on "margin." This limitation is not applicable to short-term
credit obtained by the Fund for the clearance of purchases and sales or redemption of securities, or to arrangements with respect to
transactions involving futures contracts, and other permitted investments and techniques;

&nbsp;&nbsp;&nbsp;&nbsp;b) The
Fund will not mortgage, pledge, hypothecate or in any manner transfer, as security for indebtedness, any assets of the Fund except as
may be necessary in connection with permitted borrowings. The Fund shall maintain asset coverage of 300% of all borrowing. Margin deposits,
security interests, liens and collateral arrangements with respect to transactions involving options, futures contracts, short sales,
securities lending and other permitted investments and techniques are not deemed to be a mortgage, pledge or hypothecation of assets
for purposes of this limitation;

&nbsp;&nbsp;&nbsp;&nbsp;c) The
Fund will not purchase any security while borrowings representing more than one third of its total assets are outstanding, except that
the Fund may purchase securities for the purpose of reducing borrowings (such as reversing short positions).

&nbsp;&nbsp;&nbsp;&nbsp;d) *(Dividend Growth Fund only)* Under normal circumstances, the Fund will invest at least 80% of the Fund's net assets plus the amount of
borrowings for investment purposes, in the securities of companies that the Adviser believes have the ability to increase dividends over
the long term.

&nbsp;&nbsp;&nbsp;&nbsp;e) *(Exponential Technologies Fund only*) Under normal market conditions, the Fund invests at least 80% of its net assets (plus borrowings for investment
purposes) in companies that the Adviser believes are participating in and benefitting from technologies, innovations, technology themes,
or technology trends.

&nbsp;&nbsp;&nbsp;&nbsp;f) *(Limited-Term Bond Fund and Core Bond Fund only)* Under normal circumstances, the Fund will invest at least 80% of the Fund's net assets plus
the amount of borrowings for investment purposes, in bonds.

&nbsp;&nbsp;&nbsp;&nbsp;g) *(Large Cap Focus Fund only)* Under normal circumstances, the Fund will invest at least 80% of the Fund's net assets plus the amount
of borrowings for investment purposes, in the large capitalization companies as defined in the Fund's prospectus.

If a restriction on a Fund's investments is adhered to at the time an investment is made, a subsequent change in the percentage of Fund assets invested in certain securities or other instruments, or change in average duration of the

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| | |
|:---|:---|
| **EVENTIDE** | **5** |
| **EVENTIDE** | **5** |

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| | |
|:---|:---|
| **S T A T E M E N T O F A D D I T I O N A L I N F O R M A T I O N** | **N o v e m b e r 1, 2 0 2 5** |

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Fund's investment portfolio, resulting from changes in the value of the Fund's total assets, will not be considered a violation of the restriction; provided, however, that the asset coverage requirement applicable to borrowings shall be maintained in the manner contemplated by applicable law.

Temporary Defensive Positions

From time to time, a Fund may take temporary defensive positions, which are inconsistent with the Fund's principal investment strategies, in attempting to respond to adverse market, economic, political, or other conditions. For example, a Fund may hold all or a portion of its assets in money market instruments, including cash, cash equivalents, U.S. government securities, other investment grade fixed income securities, certificates of deposit, banker's acceptances, commercial paper, money market funds and repurchase agreements. If a Fund invests in a money market fund, the shareholders of the Fund generally will be subject to duplicative advisory fees. Although the Fund may do this to seek to avoid losses, the Fund will be unable to pursue its investment objective during that time, and it could reduce the benefit from any upswing in the market. Each Fund also may invest in money market instruments at any time to maintain liquidity or pending selection of investments in accordance with its policies.

Pursuant to Rule 22e-4 under the 1940 Act, none of the Funds will invest more than 15% of its net assets in securities for which there are legal or contractual restrictions on resale and other illiquid investments. Rule 144A securities with registration rights are not considered to be illiquid. If illiquid investments exceed 15% of a Fund's net assets, the Fund will take corrective action consistent with Rule 22e-4.

Additional Information about Investments and Risks

Unless restricted by the fundamental policies of a Fund, the following policies supplement the investment objective and policies of each Fund as set forth in the Prospectus. In this section, unless otherwise noted, references to "the Fund" apply to each Fund and references to "the Adviser" also apply to the Sub-Adviser when applicable.

**Common Stocks.** The Fund may invest in common stocks, which include the common stock of any class or series of domestic or foreign corporations or any similar equity interest, such as a trust or partnership interest. These investments may or may not pay dividends and may or may not carry voting rights. Common stock occupies the most junior position in a company's capital structure. The Fund may also invest in warrants and rights related to common stocks.

**Investments in Small and Unseasoned Companies.** Unseasoned and small companies may have limited or unprofitable operating histories, limited financial resources, and inexperienced management. In addition, they often face competition from larger or more established firms that have greater resources. Securities of small and unseasoned companies are frequently traded in the over-the-counter market or on regional exchanges where low trading volumes may result in erratic or abrupt price movements. To dispose of these securities, the Fund may need to sell them over an extended period or below the original purchase price. Investments by the Fund in these small or unseasoned companies may be regarded as speculative.

**Securities of Other Investment Companies.** The Fund may invest in securities issued by other investment companies. The Fund intends to limit its investments in accordance with applicable law or as permitted by Rule 12d1-4 under the 1940 Act. Among other things, such law would limit these investments so that, as determined immediately after a securities purchase is made by the Fund: (a) not more than 5% of the value of its total assets will be invested in the

---

| | |
|:---|:---|
| **EVENTIDE** | **6** |
| **EVENTIDE** | **6** |

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| | |
|:---|:---|
| **S T A T E M E N T O F A D D I T I O N A L I N F O R M A T I O N** | **N o v e m b e r 1, 2 0 2 5** |

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securities of any one investment company, (b) not more than 10% of the value of its total assets will be invested in the aggregate in securities of investment companies as a group; (c) not more than 3% of the outstanding voting stock of any one investment company will be owned by the Fund; and (d) not more than 10% of the outstanding voting stock of any one closed-end investment company will be owned by the Fund together with all other investment companies that have the same advisor. Under certain sets of conditions, different sets of restrictions may be applicable. As a shareholder of another investment company, the Fund would bear, along with other shareholders, its pro rata portion of that investment company's expenses, including advisory fees. These expenses would be in addition to the advisory and other expenses that the Fund bears directly in connection with its own operations. Investment companies in which the Fund may invest may also impose a sales or distribution charge in connection with the purchase or redemption of their Shares and other types of commissions or charges. Such charges will be payable by the Fund and, therefore, will be borne directly by Shareholders.

The Fund intends to rely on Section 12(d)(1)(F) and Rule 12d1-4 under the 1940 Act which in conjunction with one another allow registered investment companies (such as the Fund) to exceed the limitations set forth above, provided the aggregate sales loads any investor pays (i.e., the combined distribution expenses of both the acquiring fund and the acquired funds) does not exceed the limits on sales loads established by the Financial Industry Regulatory Authority ("FINRA") for funds of funds, and the registered investment company "mirror votes" any securities purchased pursuant to Section 12(d)(1)(F).

**Exchange Traded Funds.** The Fund may invest in a range of exchange-traded funds ("ETFs"). An ETF is an investment company that offers investors a proportionate share in a portfolio of stocks, bonds, commodities, currencies or other securities. Like individual equity securities, ETFs are traded on a stock exchange and can be bought and sold throughout the day. Traditional ETFs attempt to achieve the same investment return as that of a particular market index, such as the Standard & Poor's 500 Index. To mirror the performance of a market index, an ETF invests either in all of the securities in the index or a representative sample of securities in the index. Some ETFs also invest in futures contracts or other derivative instruments to track their benchmark index. Unlike traditional indexes, which generally weight their holdings based on relative size (market capitalization), enhanced or fundamentally weighted indexes use weighting structures that include other criteria such as earnings, sales, growth, liquidity, book value or dividends. Some ETFs also use active investment strategies instead of tracking broad market indexes. Investments in ETFs are considered to be investment companies, see "Securities of Other Investment Companies" above.

When the Fund invests in ETFs, it is subject to the specific risks of the underlying investment of the ETF. These risks could include those associated with small companies, illiquidity risk, sector risk, foreign and emerging market risk, short selling, leverage as well as risks associated with fixed income securities, real estate investments, and commodities. ETFs in which the Fund invests will not be able to replicate exactly the performance of the indices or sector they track because the total return generated by the securities will be reduced by transaction costs incurred in adjusting the actual balance of the securities. In addition, the ETFs in which the Fund invests will incur expenses not incurred by their applicable indices. Certain securities comprising the indices tracked by the ETFs may, from time to time, temporarily be unavailable, which may further impede the ETFs' ability to track their applicable indices.

When the Fund invests in sector ETFs, there is a risk that securities within the same group of industries will decline in price due to sector-specific market or economic developments. If the Fund invests more heavily in a particular sector, the value of its shares may be especially sensitive to factors and economic risks that specifically affect that sector. As a result, the Fund's share price may fluctuate more widely than the value of shares of a mutual fund that invests in a broader range of industries. Additionally, some sectors could be subject to greater government regulation than other

---

| | |
|:---|:---|
| **EVENTIDE** | **7** |
| **EVENTIDE** | **7** |

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| | |
|:---|:---|
| **S T A T E M E N T O F A D D I T I O N A L I N F O R M A T I O N** | **N o v e m b e r 1, 2 0 2 5** |

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sectors. Therefore, changes in regulatory policies for those sectors may have a material effect on the value of securities issued by companies in those sectors. The sectors in which the Fund may be more heavily invested will vary. ETFs may employ leverage, which magnifies the changes in the underlying stock index upon which they are based. Any strategy that includes inverse or leveraged securities could cause the Fund to suffer significant losses.

**Closed-End Investment Companies.** The Fund may invest in "closed-end" investment companies (or "closed-end funds"), subject to the investment restrictions set forth below. The Fund, together with any company or companies controlled by the Fund, and any other investment companies having a sub-adviser as an investment adviser, may purchase only up to 10% of the total outstanding voting stock of any closed-end fund. Typically, the common shares of closed-end funds are offered to the public in a one-time initial public offering by a group of underwriters who retain a spread or underwriting commission. Such securities are then listed for trading on a national securities exchange or in the over-the-counter markets. Because the common shares of closed-end funds cannot be redeemed upon demand to the issuer like the shares of an open-end investment company (such as the Fund), investors seek to buy and sell common shares of closed-end funds in the secondary market. The common shares of closed-end funds may trade at a price per share which is more or less than the NAV per share, the difference representing the "market premium" and the "market discount" of such common shares, respectively.

There can be no assurance that a market discount on common shares of any closed-end fund will ever decrease. In fact, it is possible that this market discount may increase and the Fund may suffer realized or unrealized capital losses due to further decline in the market price of the securities of such closed-end funds, thereby adversely affecting the NAV of the Fund's shares. Similarly, there can be no assurance that the common shares of closed-end funds which trade at a premium will continue to trade at a premium or that the premium will not decrease subsequent to a purchase of such shares by the Fund. The Fund may also invest in preferred shares of closed-end funds.

An investor in the Fund should recognize that he may invest directly in closed-end funds and that by investing in closed-end funds indirectly through the Fund he will bear not only his proportionate share of the expenses of the Fund (including operating costs and investment advisory and administrative fees) but also, indirectly, similar fees of the underlying closed-end funds. An investor may incur increased tax liabilities by investing in the Fund rather than directly in the underlying funds.

**Business Development Companies (BDCs) and Special Purpose Acquisition Companies (SPACs).** The Fund may invest in BDCs and SPACs. Federal securities laws impose certain restraints upon the organization and operations of BDCs and SPACs. For example, BDCs are required to invest at least 70% of their total assets primarily in securities of private companies or in thinly traded U.S. public companies, cash, cash equivalents, U.S. government securities and high-quality debt instruments that mature in one year or less. SPACs typically hold 85% to 100% of the proceeds raised from their IPO in trust to be used at a later date for a merger or acquisition. The SPAC must sign a letter of intent for a merger or acquisition within 18 months of the IPO. Otherwise, it will be forced to dissolve and return the assets held in the trust to the public stockholders. However, if a letter of intent is signed within 18 months, the SPAC can close the transaction within 24 months. In addition, the target of the acquisition must have a fair market value that is equal to at least 80% of the SPAC's assets at the time of acquisition and a majority of shareholders voting must approve this combination with no more than 20% of the shareholders voting against the acquisition and requesting their money back. When a deal is proposed, a shareholder can stay with the transaction by voting for it or elect to sell his shares in the SPAC if voting against it. SPACs are more transparent than private equity as they may be subject to certain SEC regulations, including registration statement requirements under the Securities Act of 1933, as

---

| | |
|:---|:---|
| **EVENTIDE** | **8** |
| **EVENTIDE** | **8** |

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| | |
|:---|:---|
| **S T A T E M E N T O F A D D I T I O N A L I N F O R M A T I O N** | **N o v e m b e r 1, 2 0 2 5** |

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amended (the "Securities Act"), and 10-K, 10-Q and 8-K financial reporting requirements. Since SPACs are publicly traded, they provide limited liquidity to an investor (i.e., investment comes in the form of common shares and warrants which can be traded). Other than the risks normally associated with IPOs, SPACs' public shareholders' risks include limited liquidity of their securities (as shares are generally thinly traded), loss of 0-15% of their investments (resulting from the SPACs operating costs) if no deals are made and lack of investment diversification as assets are invested in a single company.

**Options on Securities.** The Fund may purchase put or call options on equity securities (including securities of ETFs). The Fund may also write call options and put options on stocks only if they are covered, as described below, and such call options must remain covered so long as the Fund is obligated as a writer. Option transactions can be executed either on a national exchange or through a private transaction with a broker-dealer (an "over-the-counter" transaction). The Fund may write (sell) "covered" call options and purchase options in a spread to hedge (cover) written options, and to close out options previously written by it.

A call option gives the holder (buyer) the "right to purchase" a security at a specified price (the exercise price) at any time until a certain date (the expiration date). So long as the obligation of the writer (seller) of a call option continues, the writer may be assigned an exercise notice by the broker-dealer through which such option was sold, requiring the writer to deliver the underlying security against payment of the exercise price. This obligation terminates upon the expiration of the call option, or such earlier time at which the writer effects a closing purchase transaction by purchasing an option identical to that previously sold. To secure the obligation to deliver the underlying security upon exercise of a call option subject to the Options Clearing Corporation ("OCC"), a writer is required to deposit in escrow the underlying security or other assets in accordance with the OCC rules.

The purpose of writing covered call options is to generate additional premium income for the Fund. This premium income will serve to enhance the Fund's total return and will reduce the effect of any price decline of the security involved in the option. Covered call options will generally be written on securities which, in the opinion of the Adviser, are not expected to make any major price moves in the near future but which, over the long term, are deemed to be attractive investments for the Fund or alternately where the Adviser believes that the premium income received by the Fund exceeds their estimate of the expected benefit that may be forgone by writing the option.

The Fund may write only call options that are "covered". A call option is "covered" if the Fund either owns the underlying security or has an absolute and immediate right (such as a call with the same or a later expiration date) to acquire that security on the same economic terms. If the Fund writes a call option, the purchaser of the option has the right to buy (and the Fund has the obligation to sell) the underlying security at the exercise price throughout the term of the option. The initial amount paid to the Fund by the purchaser of the option is the "premium." The Fund's obligation as the writer of a call option to deliver the underlying security against payment of the exercise price will terminate either upon expiration of the option or earlier if the Fund is able to effect a "closing purchase transaction" through the purchase of an equivalent option. There can be no assurance that a closing purchase transaction can be effected at any particular time or at all. The Fund would not be able to effect a closing purchase transaction after it had received notice of exercise. Fund securities on which call options may be written will be purchased solely on the basis of investment considerations consistent with the Fund's investment objective. The writing of covered call options is a conservative investment technique believed to involve relatively little risk (in contrast to the writing of naked or uncovered options, which the Fund will not do), but capable of enhancing the Fund's total return. When writing a covered call option, the Fund, in return for the premium, gives up the opportunity for profit from a price

---

| | |
|:---|:---|
| **EVENTIDE** | **9** |
| **EVENTIDE** | **9** |

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| | |
|:---|:---|
| **S T A T E M E N T O F A D D I T I O N A L I N F O R M A T I O N** | **N o v e m b e r 1, 2 0 2 5** |

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increase in the underlying security above the exercise price, but retains the risk of loss should the price of the security decline. Unlike one who owns securities not subject to an option, the Fund has no control over when the Fund may be required to sell the underlying securities, since it may be assigned an exercise notice at any time prior to the expiration of its obligation as a writer. If a call option which the Fund has written expires, the Fund will realize a gain in the amount of the premium; however, such gain may be offset by a decline in the market value of the underlying security during the option period. If the call option is exercised, the Fund will realize a gain or loss from the sale of the underlying security.

The premium received is the market value of an option. The premium the Fund will receive from writing a call option will reflect, among other things, the current market price of the underlying security, the relationship of the exercise price to such market price, the historical price volatility of the underlying security, and the length of the option period. Once the decision to write a call option has been made, the Adviser, in determining whether a particular call option should be written on a particular security, will consider the reasonableness of the anticipated premium and the likelihood that a liquid secondary market will exist for such option. The premium received by the Fund for writing covered call options will be recorded as a liability in the Fund's statement of assets and liabilities. This liability will be adjusted daily to the option's current market value which is the mean of the closing bid and asked prices, after closing rotation is completed (*i.e*., after such closing prices are computed, currently at 4:02 p.m. and 4:15 p.m., depending on the type of contract), the closing prices as of the time at which the net asset value per share of the Fund is computed (the close of the New York Stock Exchange). The liability will be extinguished upon expiration of the option, the purchase of an identical option in a closing transaction, or delivery of the underlying security upon the exercise of the option.

Closing transactions will be effected to realize a profit on an outstanding call option, to prevent an underlying security from being called, or to permit the sale of the underlying security. Furthermore, effecting a closing transaction will permit the Fund to write another call option on the underlying security with either a different exercise price or expiration date or both. If the Fund desires to sell a particular security from its portfolio on which it has written a call option, the Fund will seek to effect a closing transaction prior to, or concurrently with, the sale of the security. There is, of course, no assurance that the Fund will be able to effect such closing transactions at a favorable price. If the Fund cannot effect such a closing transaction, the Fund may be required to hold a security that it might otherwise have sold, in which case it would continue to be at market risk on the security. The Fund will pay transaction costs in connection with the writing of options to close out previously written options. Such transaction costs are normally higher than those applicable to purchases and sales of portfolio securities.

The exercise price of the options may be below, equal to, or above the current market values of the underlying securities at the time the options are written. From time to time, the Fund may purchase an underlying security for delivery in accordance with an exercise notice of a call option assigned to the Fund, rather than delivering such security from its portfolio. In such cases, additional costs will be incurred.

The Fund will realize a profit or loss from a closing purchase transaction if the cost of the transaction is less or more than the premium received from the writing of the option. It is possible that the cost of effecting a closing transaction may be greater than the premium received by the Fund for writing the option. Because increases in the market price of a call option will generally reflect increases in the market price of the underlying security, any loss resulting from the purchase of a call option is likely to be offset in whole or in part by appreciation of the underlying security owned by the Fund.

---

| | |
|:---|:---|
| **EVENTIDE** | **10** |
| **EVENTIDE** | **10** |

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| | |
|:---|:---|
| **S T A T E M E N T O F A D D I T I O N A L I N F O R M A T I O N** | **N o v e m b e r 1, 2 0 2 5** |

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In order to write a call option, the Fund is required to comply with the OCC rules and the rules of the various exchanges with respect to collateral requirements.

The Fund may also purchase put options so long as they are listed on an exchange. If the Fund purchases a put option, it has the option to sell the subject security at a specified price at any time during the term of the option.

Purchasing put options may be used as a portfolio investment strategy when the Adviser perceives significant short-term risk but substantial long-term appreciation for the underlying security. The put option acts as an insurance policy, as it protects against significant downward price movement while it allows full participation in any upward movement. If the Fund is holding a stock that the Adviser feels has strong fundamentals, but for some reason may be weak in the near term, it may purchase a listed put on such security, thereby giving itself the right to sell such security at a certain strike price throughout the term of the option. Consequently, the Fund will exercise the put only if the price of such security falls below the strike price of the put. The difference between the put option's strike price and the market price of the underlying security on the date the Fund exercises the put, less transaction costs, will be the amount by which the Fund will be able to hedge against a decline in the underlying security. If, during the period of the option the market price for the underlying security remains at or above the put option's strike price, the put will expire worthless, representing a loss of the price the Fund paid for the put, plus transaction costs. If the price of the underlying security increases, the profit the Fund realizes on the sale of the security will be reduced by the premium paid for the put option less any amount for which the put may be sold.

The Fund may write put options on a fully covered basis on a stock the Fund intends to purchase. If the Fund writes a put option, the purchaser of the option has the right to sell (and the Fund has the obligation to buy) the underlying security at the exercise price throughout the term of the option. The initial amount paid to the Fund by the purchaser of the option is the "premium." The Fund's obligation to purchase the underlying security against payment of the exercise price will terminate either upon expiration of the option or earlier if the Fund is able to effect a "closing purchase transaction" through the purchase of an equivalent option. There can be no assurance that a closing purchase transaction can be effected at any particular time or at all.

The Fund may purchase a call option or sell a put option on a stock (including securities of ETFs) it may purchase at some point in the future. The purchase of a call option or sale of a put option is viewed as an alternative to the purchase of the actual stock. The number of option contracts purchased multiplied by the exercise price times the option multiplier will normally not be any greater than the number of shares that would have been purchased had the underlying security been purchased. If the Fund purchases a call option, it has the right but not the obligation to purchase (and the seller has the obligation to sell) the underlying security at the exercise price throughout the term of the option. The initial amount paid by the Fund to the seller of the call option is known as the "premium." If during the period of the option the market price of the underlying security remains at or below the exercise price, the Fund will be able to purchase the security at the lower market price. The profit or loss the Fund may realize on the eventual sale of a security purchased by means of the exercise of a call option will be reduced by the premium paid for the call option. If, during the period of the call option, the market price for the underlying security is at or below the call option's strike price, the call option will expire worthless, representing a loss of the price the Fund paid for the call option, plus transaction costs.

The Fund must comply with Rule 18f-4 under the 1940 Act, which governs the use of derivative investments and certain financing transactions (e.g., reverse repurchase agreements) by registered investment companies. Under Rule 18f-4, a fund that invests in derivative instruments beyond a specified limited amount must, among other

---

| | |
|:---|:---|
| **EVENTIDE** | **11** |
| **EVENTIDE** | **11** |

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| | |
|:---|:---|
| **S T A T E M E N T O F A D D I T I O N A L I N F O R M A T I O N** | **N o v e m b e r 1, 2 0 2 5** |

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things, apply a value-at-risk based limit to its use of certain derivative instruments and financing transactions and adopt and implement a derivatives risk management program. A fund that uses derivative instruments in a limited amount will not be subject to the full requirements of Rule 18f-4, nor will funds be required to comply with the asset segregation framework arising from prior SEC guidance for covering certain derivative instruments and related transactions. Rule 18f-4 could have an adverse impact on the Fund's performance and ability to implement its investment strategies.

**Stock Index Options.** The Fund will write call options on stock indexes only if on such date it holds a portfolio of stocks at least equal to the value of the index times the multiplier times the number of contracts.

**Transactions in Stock Options.** Purchase and sales of options involves the risk that there will be no market in which to effect a closing transaction. An option position may be closed out only on an exchange that provides a secondary market for an option of the same series or if the transaction was an over-the-counter transaction, through the original broker-dealer. Although the Fund will generally buy and sell options for which there appears to be an active secondary market, there is no assurance that a liquid secondary market on an exchange will exist for any particular option, or at any particular time, and for some options no secondary market on an exchange may exist. If the Fund, as a covered call or put option writer, is unable to effect an offsetting closing transaction in a secondary market, it will, for a call option it has written, not be able to sell the underlying security until the call option expires and, for a put option it has written, not be able to avoid purchasing the underlying security until the put option expires.

**Options on Stock Indexes.** The Fund's purchase and sale of options on stock indexes will be subject to risks described above under "Transactions in Stock Options." In addition, the distinctive characteristics of options on stock indexes create certain risks that are not present with stock options.

Since the value of a stock index option depends upon the movements in the level of the stock index, rather than the price of a particular stock, whether the Fund will realize a gain or loss on the purchase or sale of an option on a stock index depends upon movements in the level of stock prices in the stock market generally or in an industry or market segment rather than movements in the price of a particular stock. Accordingly, successful use by the Fund of options on stock indexes is subject to the Adviser's ability to correctly predict movements in the direction of the stock market generally or of a particular industry or market segment. This requires skills and techniques different from predicting changes in the price of individual stocks.

Stock index prices may be distorted if trading of certain stocks included in the stock index is interrupted. Trading in the stock index options also may be interrupted in certain circumstances, such as if trading were halted in a substantial number of stocks included in the stock index. If this were to occur, the Fund would not be able to close out options that it had purchased or written and, if restrictions on exercise were imposed, might not be able to exercise an option that it was holding, which could result in substantial losses to the Fund. It is the policy of the Fund to purchase or write options only on stock indexes that include a number of stocks sufficient to minimize the likelihood of a trading halt in the stock index, for example, the S&P 100 or S&P 500 index option.

Trading in stock index options commenced in April 1983 with the S&P 100 option (formerly called the CBOE 100). Since that time, a number of additional stock index option contracts have been introduced, including options on industry stock indexes. Although the markets for certain stock index option contracts have developed rapidly, the markets for other stock index options are still relatively illiquid. The ability to establish and close out positions on such options will be subject to the development and maintenance of a liquid secondary market. It is not certain that

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| | |
|:---|:---|
| **EVENTIDE** | **12** |
| **EVENTIDE** | **12** |

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| | |
|:---|:---|
| **S T A T E M E N T O F A D D I T I O N A L I N F O R M A T I O N** | **N o v e m b e r 1, 2 0 2 5** |

---

this market will develop in all stock index option contracts. A Fund will not purchase or sell stock index option contracts unless and until, in the Adviser's opinion, the market for such options has developed sufficiently that the risk in connection with these transactions is no greater than the risk in connection with options on stock.

**Hedging.** Hedging is a means of transferring risk that an investor does not wish to assume during an uncertain market environment. The Fund may enter into these transactions: (a) to hedge against changes in the market value of portfolio securities and against changes in the market value of securities intended to be purchased, (b) to close out or offset existing positions, (c) to manage the duration of a portfolio's fixed income investments, or (d) to enhance returns.

Hedging activity in the Fund may involve the use of derivatives including, but not limited to, buying or selling (writing) put or call options on stocks, shares of exchange traded funds or stock indexes, entering into stock index futures contracts or buying or selling options on stock index futures contracts or financial futures contracts, such as futures contracts on U.S. Treasury securities and interest related indices, and options on financial futures, or purchasing foreign currency forward contracts or options on foreign currency. The Fund will buy or sell options on stock index futures traded on a national exchange or board of trade and options on securities and on stock indexes traded on national securities exchanges or through private transactions directly with a broker-dealer. The Fund may hedge a portion of its portfolio by selling stock index futures contracts or purchasing puts on these contracts to limit exposure to an actual or anticipated market decline. The Fund may also hedge against fluctuations in currency exchange rates, in connection with its investments in foreign securities, by purchasing foreign forward currency exchange contracts and/or options on foreign currency. All hedging transactions must be appropriate for reduction of risk and they cannot be for speculation.

The Fund may engage in transactions in futures contracts and options on futures contracts.

**Regulation as a Commodity Pool Operator.** The Trust, on behalf of the Fund, has filed with the National Futures Association, a notice claiming an exclusion from the definition of the term "commodity pool operator" under the Commodity Exchange Act, as amended ("CEA"), and the rules of the Commodity Futures Trading Commission ("CFTC") promulgated thereunder, with respect to the Fund's operations. Accordingly, the Funds are not currently subject to registration or regulation as commodity pool operators.

**Convertible Securities.** The Fund may invest in convertible securities, including debt securities or preferred stock that may be converted into common stock or that carry the right to purchase common stock. Convertible securities entitle the holder to exchange the securities for a specified number of shares of common stock, usually of the same company, at specified prices within a certain period of time. They also entitle the holder to receive interest or dividends until the holder elects to exercise the conversion privilege.

The terms of any convertible security determine its ranking in a company's capital structure. In the case of subordinated convertible debentures, the holder's claims on assets and earnings are generally subordinate to the claims of other creditors, and senior to the claims of preferred and common stockholders. In the case of convertible preferred stock, the holder's claims on assets and earnings are subordinate to the claims of all creditors and are senior to the claims of common stockholders. As a result of their ranking in a company's capitalization, convertible securities that are rated by nationally recognized statistical rating organizations ("NRSROs") are generally rated below other obligations of the company and many convertible securities are not rated.

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| | |
|:---|:---|
| **EVENTIDE** | **13** |
| **EVENTIDE** | **13** |

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|:---|:---|
| **S T A T E M E N T O F A D D I T I O N A L I N F O R M A T I O N** | **N o v e m b e r 1, 2 0 2 5** |

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**Preferred Stock.** The Fund may invest in preferred stock. Preferred stock, unlike common stock, offers a stated dividend rate payable from the issuer's earnings. Preferred stock dividends may be cumulative or non-cumulative, participating, or auction rate. If interest rates rise, the fixed dividend on preferred stocks may be less attractive, causing the price of the preferred stocks to decline. Preferred stock may have mandatory sinking fund provisions, as well as call/redemption provisions prior to maturity, a negative feature when interest rates decline.

**Warrants.** The Fund may invest in warrants. The Fund may purchase warrants issued by domestic and foreign companies to purchase newly created equity securities consisting of common and preferred stock. Warrants are securities that give the holder the right, but not the obligation to purchase equity issues of the company issuing the warrants, or a related company, at a fixed price either on a certain date or during a set period. The equity security underlying a warrant is authorized at the time the warrant is issued or is issued together with the warrant.

Investing in warrants can provide a greater potential for profit or loss than an equivalent investment in the underlying security, and, thus, can be a speculative investment. At the time of issue, the cost of a warrant is substantially less than the cost of the underlying security itself, and price movements in the underlying security are generally magnified in the price movements of the warrant. This leveraging effect enables the investor to gain exposure to the underlying security with a relatively low capital investment. This leveraging increases an investor's risk, however, in the event of a decline in the value of the underlying security and can result in a complete loss of the amount invested in the warrant. In addition, the price of a warrant tends to be more volatile than, and may not correlate exactly to, the price of the underlying security. If the market price of the underlying security is below the exercise price of the warrant on its expiration date, the warrant will generally expire without value. The value of a warrant may decline because of a decline in the value of the underlying security, the passage of time, changes in interest rates or in the dividend or other policies of the company whose equity underlies the warrant or a change in the perception as to the future price of the underlying security, or any combination thereof. Warrants generally pay no dividends and confer no voting or other rights other than to purchase the underlying security.

**United States Government Obligations.** The Fund may invest in obligations issued or guaranteed by the United States government, or by its agencies or instrumentalities. Obligations issued or guaranteed by federal agencies or instrumentalities may or may not be backed by the "full faith and credit" of the United States. Securities that are backed by the full faith and credit of the United States include Treasury bills, Treasury notes, Treasury bonds, and obligations of the Government National Mortgage Association, the Farmers Home Administration, and the Export-Import Bank. In the case of securities not backed by the full faith and credit of the United States, the Fund must look principally to the agency issuing or guaranteeing the obligation for ultimate repayment and may not be able to assert a claim against the United States itself in the event the agency or instrumentality does not meet its commitments. Securities that are not backed by the full faith and credit of the United States include, but are not limited to, obligations of the Tennessee Valley Authority, the Federal National Mortgage Association and the United States Postal Service, each of which has the right to borrow from the United States Treasury to meet its obligations, and obligations of the Federal Farm Credit System and the Federal Home Loan Banks, both of whose obligations may be satisfied only by the individual credits of each issuing agency.

**Foreign Government Obligations.** The Fund may invest in short-term obligations of foreign sovereign governments or of their agencies, instrumentalities, authorities or political subdivisions. These securities may be denominated in United States dollars or in another currency. See "Foreign Investments."

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|:---|:---|
| **EVENTIDE** | **14** |
| **EVENTIDE** | **14** |

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|:---|:---|
| **S T A T E M E N T O F A D D I T I O N A L I N F O R M A T I O N** | **N o v e m b e r 1, 2 0 2 5** |

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**Bank Obligations.** The Fund may invest in bank obligations such as bankers' acceptances, certificates of deposit, and time deposits.

Bankers' acceptances are negotiable drafts or bills of exchange typically drawn by an importer or exporter to pay for specific merchandise, which are "accepted" by a bank, meaning, in effect, that the bank unconditionally agrees to pay the face value of the instrument on maturity. Investments will be in bankers' acceptances guaranteed by domestic and foreign banks having, at the time of investment, capital, surplus, and undivided profits in excess of $100,000,000 (as of the date of their most recently published financial statements).

Certificates of deposit are negotiable certificates issued against funds deposited in a commercial bank or a savings and loan association for a definite period of time and earning a specified return.

**Commercial Paper.** Commercial paper consists of unsecured promissory notes, including Master Notes, issued by corporations. Issues of commercial paper normally have maturities of less than nine months and fixed rates of return. Master Notes, however, are obligations that provide for a periodic adjustment in the interest rate paid and permit daily changes in the amount borrowed.

Master Notes are governed by agreements between the issuer and the Adviser acting as agent, for no additional fee, in its capacity as Adviser to the Fund and as fiduciary for other clients for whom it exercises investment discretion. The monies loaned to the borrower come from accounts maintained with or managed by the Adviser or its affiliates pursuant to arrangements with such accounts. Interest and principal payments are credited to such accounts. The Adviser, acting as a fiduciary on behalf of its clients, has the right to increase or decrease the amount provided to the borrower under an obligation. The borrower has the right to pay without penalty all or any part of the principal amount then outstanding on an obligation together with interest to the date of payment. Since these obligations typically provide that the interest rate is tied to the Treasury bill auction rate, the rate on Master Notes is subject to change. Repayment of Master Notes to participating accounts depends on the ability of the borrower to pay the accrued interest and principal of the obligation on demand which is continuously monitored by the Adviser. Master Notes typically are not rated by credit rating agencies.

The Fund may purchase commercial paper consisting of issues rated at the time of purchase within the three highest rating categories by an NRSRO. The Fund may also invest in commercial paper that is not rated but is determined by the Adviser, under guidelines established by the Board, to be of comparable quality.

**Other Fixed Income Securities.** Other fixed income securities in which the Fund may invest include nonconvertible preferred stocks and nonconvertible corporate debt securities.

The Fund may invest in short-term investments (including repurchase agreements "collateralized fully," as provided in Rule 2a-7 under the 1940 Act; interest-bearing or discounted commercial paper, including dollar denominated commercial paper of foreign issuers; and any other taxable and tax-exempt money market instruments, including variable rate demand notes that are "Eligible Securities" as defined in Rule 2a-7 under the 1940 Act.

**Reverse Convertible Notes.** The Fund may invest in reverse convertible notes. A reverse convertible is a short-to-intermediate term structured product, generally issued by a financial institution, in which performance is based on that of an underlying security, commodity or index. Generally, at maturity the note matures at par unless the price of

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|:---|:---|
| **EVENTIDE** | **15** |
| **EVENTIDE** | **15** |

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|:---|:---|
| **S T A T E M E N T O F A D D I T I O N A L I N F O R M A T I O N** | **N o v e m b e r 1, 2 0 2 5** |

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the underlying instrument has fallen below a certain "break point," in which case the note holder receives a proportionate amount of units or shares of the underlying instrument.

**Variable Amount Master Demand Notes.** Variable amount master demand notes are unsecured demand notes that permit the indebtedness thereunder to vary and provide for periodic readjustments in the interest rate according to the terms of the instrument. They are also referred to as variable rate demand notes. Because master demand notes are direct lending arrangements between the Fund and the issuer, they are not normally traded. Although there is no secondary market in the notes, the Fund may demand payment of principal and accrued interest at any time or during specified periods not exceeding one year, depending upon the instrument involved, and may resell the note at any time to a third party. The Adviser will consider the earning power, cash flow, and other liquidity ratios of the issuers of such notes and will continuously monitor their financial status and ability to meet payment on demand.

**Variable and Floating Rate Notes.** A variable rate note is one whose terms provide for the readjustment of its interest rate on set dates and which, upon such readjustment, can reasonably be expected to have a market value that approximates its par value. A floating rate note is one whose terms provide for the readjustment of its interest rate whenever a specified interest rate changes and which, at any time, can reasonably be expected to have a market value that approximates its par value. Such notes are frequently not rated by credit rating agencies. These notes must satisfy the same quality standards as commercial paper investments. Unrated variable and floating rate notes purchased by the Fund must be determined by the Adviser under guidelines approved by the Board to be of comparable quality at the time of purchase to rated instruments eligible for purchase under the Fund's investment policies. In making such determinations, the Adviser will consider the earning power, cash flow and other liquidity ratios of the issuers of such notes (such issuers include financial, merchandising, bank holding and other companies) and will continuously monitor their financial condition. Although there may be no active secondary market with respect to a particular variable or floating rate note purchased by the Fund, the Fund may resell the note at any time to a third party. The absence of an active secondary market, however, could make it difficult for the Fund to dispose of a variable or floating rate note in the event the issuer of the note defaulted on its payment obligations and the Fund could, as a result or for other reasons, suffer a loss to the extent of the default. Variable or floating rate notes may be secured by bank letters of credit.

**Foreign Investments.** The Fund may invest in certain obligations or securities of foreign issuers. Certain of these investments may be in the form of American Depositary Receipts ("ADRs"), European Depositary Receipts ("EDRs"), Global Depositary Receipts ("GDRs"), other similar depositary receipts, and exchange traded funds ("ETFs") or other investment companies that invest in foreign securities, Yankee Obligations, and U.S. dollar-denominated securities issued by foreign branches of U.S. and foreign banks. Foreign investments may subject the Fund to investment risks that differ in some respects from those related to investment in obligations of U.S. domestic issuers. Such risks include future adverse political and economic developments, possible seizure, nationalization, or expropriation of foreign investments, less stringent disclosure requirements, the possible establishment of exchange controls or taxation at the source or other taxes, and the adoption of other foreign governmental restrictions.

Additional risks include less publicly available information, less government supervision and regulation of foreign securities exchanges, brokers and issuers, the risk that companies may not be subject to the accounting, auditing and financial reporting standards and requirements of U.S. companies, the risk that foreign securities markets may have less volume and that therefore many securities traded in these markets may be less liquid and their prices more volatile than U.S. securities, and the risk that custodian and brokerage costs may be higher. Foreign issuers of securities or obligations are often subject to accounting treatment and engage in business practices different from

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|:---|:---|
| **EVENTIDE** | **16** |
| **EVENTIDE** | **16** |

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|:---|:---|
| **S T A T E M E N T O F A D D I T I O N A L I N F O R M A T I O N** | **N o v e m b e r 1, 2 0 2 5** |

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those respecting domestic issuers of similar securities or obligations. Foreign branches of U.S. banks and foreign banks may be subject to less stringent reserve requirements than those applicable to domestic branches of U.S. banks. Certain of these investments may subject the Fund to currency fluctuation risks.

Other investment risks include the possible imposition of foreign withholding taxes on certain amounts of the Fund's income which may reduce the net return on non-U.S. investments as compared to income received from a U.S. issuer, the possible seizure or nationalization of foreign assets and the possible establishment of exchange controls, expropriation, confiscatory taxation, other foreign governmental laws or restrictions which might affect adversely payments due on securities held by the Fund, the lack of extensive operating experience of eligible foreign subcustodians and legal limitations on the ability of the Fund to recover assets held in custody by a foreign subcustodian in the event of the subcustodian's bankruptcy.

In addition, there may be less publicly available information about a non-U.S. issuer than about a U.S. issuer, and non-U.S. issuers may not be subject to the same accounting, auditing and financial record-keeping standards and requirements as U.S. issuers. In particular, the assets and profits appearing on the financial statements of an emerging market country issuer may not reflect its financial position or results of operations in the way they would be reflected had the financial statements been prepared in accordance with U.S. generally accepted accounting principles. In addition, for an issuer that keeps accounting records in local currency, inflation accounting rules may require, for both tax and accounting purposes, that certain assets and liabilities be restated on the issuer's balance sheet in order to express items in terms of currency of constant purchasing power. Inflation accounting may indirectly generate losses or profits. Consequently, financial data may be materially affected by restatements for inflation and may not accurately reflect the real condition of those issuers and securities markets.

Finally, in the event of a default of any such foreign obligations, it may be more difficult for the Fund to obtain or enforce a judgment against the issuers of such obligations. The manner in which foreign investors may invest in companies in certain emerging market countries, as well as limitations on such investments, also may have an adverse impact on the operations of the Fund. For example, the Fund may be required in certain countries to invest initially through a local broker or other entity and then have the shares purchased re-registered in the name of the Fund. Re-registration may in some instances not be able to occur on a timely basis, resulting in a delay during which the Fund may be denied certain of its rights as an investor.

**Depositary Receipts.** The Fund's investments may include securities of foreign issuers in the form of sponsored or unsponsored ADRs, GDRs and EDRs. ADRs are depositary receipts typically issued by a United States bank or trust company which evidence ownership of underlying securities issued by a foreign corporation. EDRs and GDRs are typically issued by foreign banks or trust companies, although they also may be issued by United States banks or trust companies, and evidence ownership of underlying securities issued by either a foreign or a United States corporation. Generally, depositary receipts in registered form are designed for use in the United States securities market and depositary receipts in bearer form are designed for use in securities markets outside the United States Depositary receipts may not necessarily be denominated in the same currency as the underlying securities into which they may be converted. Ownership of unsponsored depositary receipts may not entitle the Fund to financial or other reports from the issuer of the underlying security, to which it would be entitled as the owner of sponsored depositary receipts.

**Emerging Markets.** The Fund may invest in securities of issuers located in "emerging markets" (lesser developed countries located outside of the U.S.) or ETFs or other investment companies that invest in emerging market

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|:---|:---|
| **EVENTIDE** | **17** |
| **EVENTIDE** | **17** |

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|:---|:---|
| **S T A T E M E N T O F A D D I T I O N A L I N F O R M A T I O N** | **N o v e m b e r 1, 2 0 2 5** |

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securities. The Fund may invest in countries with newly organized or less developed securities markets. There are typically greater risks involved in investing in emerging markets securities. Generally, economic structures in these countries are less diverse and mature than those in developed countries and their political systems tend to be less stable. There may also be less reliable or publicly available information about emerging markets due to non-uniform regulatory, auditing or financial recordkeeping standards, which could cause errors in the implementation of a Fund's investment strategy. Emerging market economies may be based on only a few industries, therefore security issuers, including governments, may be more susceptible to economic weakness and more likely to default. Emerging market countries also may have relatively unstable governments, weaker economies, and less-developed legal systems with fewer security holder rights. The Fund's performance may depend on issues other than those that affect U.S. companies and may be adversely affected by different rights and remedies associated with emerging market investments, or the lack thereof, compared to those associated with U.S. companies. Investments in emerging markets countries may be affected by government policies that restrict foreign investment in certain issuers or industries. The potentially smaller size of their securities markets and lower trading volumes can make investments relatively illiquid and potentially more volatile than investments in developed countries, and such securities may be subject to abrupt and severe price declines. Due to this relative lack of liquidity, the Fund may have to accept a lower price or may not be able to sell a portfolio security at all. An inability to sell a portfolio position can adversely affect the Fund's value or prevent the Fund from being able to meet cash obligations or take advantage of other investment opportunities.

**When-Issued and Delayed Delivery Securities.** The Fund may purchase securities on a when-issued or delayed delivery basis. Delivery of and payment for these securities may take as long as a month or more after the date of the purchase commitment. The value of these securities is subject to market fluctuation during this period and no interest or income accrues to the Fund until settlement. When entering into a when-issued or delayed delivery transaction, the Fund will rely on the other party to consummate the transaction; if the other party fails to do so, the Fund may be disadvantaged.

**Lower Rated or Unrated Securities.** Securities rated Baa by Moody's or BBB by S&P or lower, or deemed of comparable quality by the Adviser, may have speculative characteristics. Securities rated below investment grade, *i.e.*, below Baa or BBB, or deemed of comparable quality by the Adviser, have higher yields but also involve greater risks than higher rated securities. Under guidelines used by rating agencies, securities rated below investment grade, or deemed of comparable quality, have large uncertainties or major risk exposures in the event of adverse conditions, which features outweigh any quality and protective characteristics. Securities with the lowest ratings are considered to have extremely poor prospects of ever attaining any real investment standing, to have a current identifiable vulnerability to default, to be unlikely to have the capacity to pay interest and repay principal when due in the event of adverse business, financial or economic conditions, and/or to be in default or not current in the payment of interest or principal. Such securities are considered speculative with respect to the issuer's capacity to pay interest and repay principal in accordance with the terms of the obligations. Accordingly, it is possible that these types of factors could, in certain instances, reduce the value of such securities held by the Fund with a commensurate effect on the value of its shares.

The secondary market for lower rated securities is not as liquid as that for higher rated securities. This market is concentrated in relatively few market makers and participants in the market are mostly institutional investors, including insurance companies, banks, other financial institutions and investment companies. In addition, the trading market for lower rated securities is generally lower than that for higher-rated securities, and the secondary markets could contract under adverse market or economic conditions independent of any specific adverse changes in the

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|:---|:---|
| **EVENTIDE** | **18** |
| **EVENTIDE** | **18** |

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|:---|:---|
| **S T A T E M E N T O F A D D I T I O N A L I N F O R M A T I O N** | **N o v e m b e r 1, 2 0 2 5** |

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condition of a particular issuer. These factors may have an adverse effect on the Fund's ability to dispose of these securities and may limit its ability to obtain accurate market quotations for purposes of determining the value of its assets. If the Fund is not able to obtain precise or accurate market quotations for a particular security, it will become more difficult to value its portfolio, requiring them to rely more on judgment. Less liquid secondary markets may also affect the Fund's ability to sell securities at their fair value. The Fund may invest up to 15% of its net assets, measured at the time of investment, in illiquid investments, which may be more difficult to value and to sell at fair value. If the secondary markets for high yield debt securities are affected by adverse economic conditions, the proportion of the Fund's assets invested in illiquid investments may increase.

In the case of corporate debt securities, while the market values of securities rated below investment grade and comparable unrated securities tend to react less to fluctuations in interest rate levels than do those of higher-rated securities, the market values of certain of these securities also tend to be more sensitive to individual corporate developments and changes in economic conditions than higher-rated securities. Price volatility in these securities will be reflected in the Fund's share value. In addition, such securities generally present a higher degree of credit risk. Issuers of these securities often are highly leveraged and may not have more traditional methods of financing available to them, so that their ability to service their debt obligations during an economic downturn or during sustained periods of rising interest rates may be impaired. The risk of loss due to default by such issuers is significantly greater than with investment grade securities because such securities generally are unsecured and frequently are subordinated to the prior payment of senior indebtedness.

A description of the quality ratings of certain NRSROs is contained in Appendix A.

**Zero Coupon Securities.** The Fund may invest in "zero coupon" U.S. Treasury, foreign government and U.S. and foreign corporate convertible and nonconvertible debt securities, which are bills, notes and bonds that have been stripped of their unmatured interest coupons and custodial receipts or certificates of participation representing interests in such stripped debt obligations and coupons. A zero-coupon security pays no interest to its holder prior to maturity. Accordingly, such securities usually trade at a deep discount from their face or par value and will be subject to greater fluctuations of market value in response to changing interest rates than debt obligations of comparable maturities that make current distributions of interest. The Fund anticipates that it will not normally hold zero coupon securities to maturity. Redemption of shares of the Fund that require it to sell zero coupon securities prior to maturity may result in capital gains or losses that may be substantial. Federal tax law requires that a holder of a zero-coupon security accrue a portion of the discount at which the security was purchased as income each year, even though the holder receives no interest payment on the security during the year. Such accrued discount will be includible in determining the amount of dividends the Fund must pay each year and, in order to generate cash necessary to pay such dividends, the Fund may liquidate portfolio securities at a time when it would not otherwise have done so.

**Forward Foreign Currency Exchange Contracts.** The Fund may enter into forward foreign currency exchange contracts in connection with its investments in foreign or other securities. A forward contract may be used by the Fund to hedge against possible variations in exchange rates of currencies in countries in which it may invest. The Fund may also enter into forward foreign currency exchange contracts to generate returns from the movements in exchange rates between the U.S dollar and one or more foreign currencies or movements in exchange rates between foreign currencies. A forward foreign currency exchange contract ("forward contract") involves an obligation to purchase or sell a specific currency at a future date, which may be any fixed number of days from the date of the contract agreed upon by the parties, at a price set at the time of the contract. Forward contracts are traded in the interbank market

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| | |
|:---|:---|
| **EVENTIDE** | **19** |
| **EVENTIDE** | **19** |

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|:---|:---|
| **S T A T E M E N T O F A D D I T I O N A L I N F O R M A T I O N** | **N o v e m b e r 1, 2 0 2 5** |

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directly between currency traders (usually large commercial banks) and their customers. A forward contract generally has no deposit requirement, and no commissions are charged at any stage for trades.

**Futures Contracts.** A Fund may invest in futures contracts and options thereon (stock index futures contracts, exchange traded Bitcoin and Ethereum futures contracts, exchange traded Bitcoin and Ethereum futures contracts, interest rate futures contracts or currency futures contracts or options thereon) to hedge or manage risks associated with the Fund's securities investments or as a substitute for securities and currencies or to enhance returns. When a futures contract is executed, each party deposits with a futures commission merchant ("FCM") or broker ("Custodian"), a specified percentage of the contract amount, called the initial margin, and during the term of the contract, the amount of the deposit is adjusted based on the current value of the futures contract by payments of variation margin to or from the FCM or broker. In the case of options on futures, the holder of the option pays a premium and receives the right, upon exercise of the option at a specified price during the option period, to assume the option writer's position in the futures contract and related margin account. If the option is exercised on the last trading day, cash in an amount equal to the difference between the option exercise price and the closing level of the relevant index, interest rate or currency price, as applicable, on the expiration date is delivered.

Positions in futures contracts may be closed out only on an exchange that provides a secondary market for such futures. However, there can be no assurance that a liquid secondary market will exist for any particular futures contract at any specific time. Thus, it may not be possible to close a futures position. In the event of adverse price movements, the Fund would continue to be required to make daily cash payments to maintain its required margin. In such situations, if the Fund had insufficient cash, it might have to sell portfolio securities to meet daily margin requirements at a time when it would be disadvantageous to do so. In addition, the Fund might be required to make delivery of the instruments underlying futures contracts it holds. The inability to close positions in futures or options thereon also could have an adverse impact on the Fund's ability to hedge or manage risks effectively.

Successful use of futures by the Fund is also subject to the Adviser's ability to predict movements correctly in the direction of the market. There is typically an imperfect correlation between movements in the price of the future and movements in the price of the securities that are the subject of the hedge. In addition, the price of futures may not correlate perfectly with movement in the cash market due to certain market distortions. Due to the possibility of price distortion in the futures market and because of the imperfect correlation between the movements in the cash market and movements in the price of futures, a correct forecast of general market trends or interest rate movements by the Adviser may still not result in a successful hedging transaction over a short time frame.

The trading of futures contracts is also subject to the risk of trading halts, suspension, exchange or clearing house equipment failures, government intervention, insolvency of a commodities or brokerage firm or clearing house or other disruption of normal trading activity, which could at times make it difficult or impossible to liquidate existing positions or to recover excess variation margin payments.

The purchase and sale of futures contracts or related options will not be a primary investment technique of the Fund. The Fund will purchase or sell futures contracts (or related options thereon) in accordance with the CFTC regulations described above.

**Interest Rate Futures.** The Fund may purchase an interest rate futures contract as a hedge against changes in interest rates, declines in portfolio value, as a substitute for securities or to enhance returns. An interest rate futures contract provides for the future sale by one party and the purchase by the other party of a certain amount of a specific

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| | |
|:---|:---|
| **EVENTIDE** | **20** |
| **EVENTIDE** | **20** |

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|:---|:---|
| **S T A T E M E N T O F A D D I T I O N A L I N F O R M A T I O N** | **N o v e m b e r 1, 2 0 2 5** |

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interest rate sensitive financial instrument (debt security) at a specified price, date, time and place. Generally, if market interest rates increase, the value of outstanding debt securities declines (and vice versa). Thus, if the Fund holds long-term debt obligations and the Adviser anticipates a rise in long-term interest rates, the Fund could, instead of selling its debt obligations, enter into an interest rate futures contract for the sale of similar long-term securities. If interest rates rise, the value of the futures contract would also rise, helping to offset the price decline of the obligations held by the Fund. The Fund might also purchase futures contracts as a proxy for underlying securities that it cannot currently buy.

**Stock Index Futures.** The Fund may purchase and sell stock index futures contracts as a hedge against changes resulting from market conditions in the values of securities that are held in its portfolio or that it intends to purchase or when such purchase or sale is economically appropriate for the reduction of risks inherent in the ongoing management of the Fund. The Fund may also purchase and sell stock index futures contracts as a substitute for securities or to enhance returns. A stock index futures contract is an agreement in which one party agrees to deliver to the other an amount of cash equal to a specific dollar amount times the difference between the value of a specific stock index at the close of the last trading day of the contract and the price at which the agreement is made.

The Fund may hedge a portion of its portfolio by selling stock index futures contracts or purchasing puts on these contracts to limit exposure to an actual or anticipated market decline. This provides an alternative to liquidation of securities positions. Conversely, during a market advance or when the Adviser anticipates an advance, the Fund may hedge a portion of its portfolio by purchasing stock index futures, or options on these futures. This affords a hedge against the Fund not participating in a market advance when it is not fully invested and serves as a temporary substitute for the purchase of individual securities, which may later be purchased in a more advantageous manner.

The Fund's successful use of stock index futures contracts depends upon the Adviser's ability to predict the direction of the market and is subject to various additional risks. The correlation between movement in the price of the stock index future and the price of the securities being hedged is imperfect and the risk from imperfect correlation increases as the composition of the Fund's portfolio diverges from the composition of the relevant index. In addition, if the Fund purchases futures to hedge against market advances before it can invest in common stock in an advantageous manner and the market declines, there may be a loss on the futures contracts. In addition, the ability of the Fund to close out a futures position or an option on futures depends on a liquid secondary market. There is no assurance that liquid secondary markets will exist for any particular futures contract or option on a futures contract at any particular time. The risk of loss to the Fund is theoretically unlimited when the Fund sells an uncovered futures contract because there is an obligation to make delivery unless the contract is closed out, regardless of fluctuations in the price of the underlying security.

**Foreign Currency Futures Transactions.** Unlike forward foreign currency exchange contracts, foreign currency futures contracts and options on foreign currency futures contract are standardized as to amount and delivery period and may be traded on boards of trade and commodities exchanges or directly with a dealer which makes a market in such contracts and options. It is anticipated that such contracts may provide greater liquidity and lower cost than forward foreign currency exchange contracts. As part of their financial futures transactions, the Fund may use foreign currency futures contracts and options on such futures contracts to hedge portfolio value, as a substitute for currencies or to enhance returns. Through the purchase or sale of such contracts, the Fund may be able to achieve many of the same objectives as through investing in forward foreign currency exchange.

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| | |
|:---|:---|
| **EVENTIDE** | **21** |
| **EVENTIDE** | **21** |

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| | |
|:---|:---|
| **S T A T E M E N T O F A D D I T I O N A L I N F O R M A T I O N** | **N o v e m b e r 1, 2 0 2 5** |

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**Foreign Currency Options.** A foreign currency option provides the option buyer with the right to buy or sell a stated amount of foreign currency at the exercise price at a specified date or during the option period. A call option gives its owner the right, but not the obligation, to buy the currency, while a put option gives its owner the right, but not the obligation, to sell the currency. The option seller (writer) is obligated to fulfill the terms of the option sold if it is exercised. However, either seller or buyer may close its position during the option period in the secondary market for such options at any time prior to expiration.

The Fund may write only foreign currency options that are "covered". A call option is "covered" if the Fund either owns the underlying currency or has an absolute and immediate right (such as a call with the same or a later expiration date) to acquire that currency on the same economic terms. In addition, the Fund will not permit the option to become uncovered prior to the expiration of the option or termination through a closing purchase transaction as described in "Options on Securities" above.

A foreign currency call option rises in value if the underlying currency appreciates. Conversely, a foreign currency put option rises in value if the underlying currency depreciates. While purchasing a foreign currency option may protect the Fund against an adverse movement in the value of a foreign currency, it would not limit the gain which might result from a favorable movement in the value of the currency. For example, if the Fund was holding securities denominated in an appreciating foreign currency and had purchased a foreign currency put to hedge against a decline in the value of the currency, it would not have to exercise its put. In such an event, however, the amount of the Fund's gain would be offset in part by the premium paid for the option. Similarly, if the Fund entered into a contract to purchase a security denominated in a foreign currency and purchased a foreign currency call to hedge against a rise in the value of the currency between the date of purchase and the settlement date, the Fund would not need to exercise its call if the currency instead depreciated in value. In such a case, the Fund would acquire the amount of foreign currency needed for settlement in the spot market at a lower price than the exercise price of the option.

**REITs.** The Fund may invest in securities of real estate investment trusts ("REITs"). REITs are publicly traded corporations or trusts that specialize in acquiring, holding and managing residential, commercial or industrial real estate. A REIT is not taxed at the entity level on income distributed to its shareholders or unitholders if it distributes to shareholders or unitholders at least 95% of its taxable income for each taxable year and complies with regulatory requirements relating to its organization, ownership, assets and income.

REITs generally can be classified as "Equity REITs," "Mortgage REITs" and "Hybrid REITs." An Equity REIT invests the majority of its assets directly in real property and derives its income primarily from rents and from capital gains on real estate appreciation which are realized through property sales. A Mortgage REIT invests the majority of its assets in real estate mortgage loans and services its income primarily from interest payments. A Hybrid REIT combines the characteristics of an Equity REIT and a Mortgage REIT. Although the Fund can invest in all three kinds of REITs, its emphasis is expected to be on investments in Equity REITs.

Investments in the real estate industry involve particular risks. The real estate industry has been subject to substantial fluctuations and declines on a local, regional and national basis in the past and may continue to be in the future. Real property values and income from real property may decline due to general and local economic conditions, overbuilding and increased competition, increases in property taxes and operating expenses, changes in zoning laws, casualty or condemnation losses, regulatory limitations on rents, changes in neighborhoods and in demographics, increases in market interest rates, or other factors. Factors such as these may adversely affect

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|:---|:---|
| **EVENTIDE** | **22** |
| **EVENTIDE** | **22** |

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|:---|:---|
| **S T A T E M E N T O F A D D I T I O N A L I N F O R M A T I O N** | **N o v e m b e r 1, 2 0 2 5** |

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companies that own and operate real estate directly, companies that lend to such companies, and companies that service the real estate industry.

Direct investments in REITs also involve risks. Equity REITs will be affected by changes in the values of and income from the properties they own, while Mortgage REITs may be affected by the credit quality of the mortgage loans they hold. In addition, REITs are dependent on specialized management skills and on their ability to generate cash flow for operating purposes and to make distributions to shareholders or unitholders REITs may have limited diversification and are subject to risks associated with obtaining financing for real property, as well as to the risk of self-liquidation. REITs also can be adversely affected by their failure to qualify for tax-free pass-through treatment of their income under the Internal Revenue Code of 1986, as amended, or their failure to maintain an exemption from registration under the 1940 Act. By investing in REITs indirectly through the Fund, a shareholder bears not only a proportionate share of the expenses of the Fund, but also may indirectly bear similar expenses of some of the REITs in which it invests.

**Structured Securities.** The Fund may purchase any type of publicly traded or privately negotiated fixed income security, including mortgage-backed securities; structured notes, bonds or debentures; and assignments of and participations in loans.

**Mortgage-Backed Securities.** The Fund may invest in mortgage-backed securities, such as those issued by the Government National Mortgage Association ("GNMA"), Federal National Mortgage Association ("FNMA"), Federal Home Loan Mortgage Corporation ("FHLMC") or certain foreign issuers. Mortgage-backed securities represent direct or indirect participations in, or are secured by and payable from, mortgage loans secured by real property. The mortgages backing these securities include, among other mortgage instruments, conventional 30-year fixed-rate mortgages, 15-year fixed-rate mortgages, graduated payment mortgages and adjustable-rate mortgages. The government or the issuing agency typically guarantees the payment of interest and principal of these securities. However, the guarantees do not extend to the securities' yield or value, which are likely to vary inversely with fluctuations in interest rates, nor do the guarantees extend to the yield or value of the Fund's shares. These securities generally are "pass-through" instruments, through which the holders receive a share of all interest and principal payments from the mortgages underlying the securities, net of certain fees.

Yields on pass-through securities are typically quoted by investment dealers and vendors based on the maturity of the underlying instruments and the associated average life assumption. The average life of pass-through pools varies with the maturities of the underlying mortgage loans. A pool's term may be shortened by unscheduled or early payments of principal on the underlying mortgages. The occurrence of mortgage prepayments is affected by various factors, including the level of interest rates, general economic conditions, the location, scheduled maturity and age of the mortgage and other social and demographic conditions. Because prepayment rates of individual pools vary widely, it is not possible to predict accurately the average life of a particular pool. For pools of fixed-rate 30-year mortgages in a stable interest rate environment, a common industry practice in the U.S. has been to assume that prepayments will result in a 12-year average life, although it may vary depending on numerous factors. At present, pools, particularly those with loans with other maturities or different characteristics, are priced on an assumption of average life determined for each pool. In periods of falling interest rates, the rate of prepayment tends to increase, thereby shortening the actual average life of a pool of mortgage-related securities. Conversely, in periods of rising rates the rate of prepayment tends to decrease, thereby lengthening the actual average life of the pool. However, these effects may not be present, or may differ in degree, if the mortgage loans in the pools have adjustable interest rates or other special payment terms, such as a prepayment charge. Actual prepayment experience may cause the

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| | |
|:---|:---|
| **EVENTIDE** | **23** |
| **EVENTIDE** | **23** |

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| | |
|:---|:---|
| **S T A T E M E N T O F A D D I T I O N A L I N F O R M A T I O N** | **N o v e m b e r 1, 2 0 2 5** |

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yield of mortgage-backed securities to differ from the assumed average life yield. Reinvestment of prepayments may occur at higher or lower interest rates than the original investment, thus affecting the Fund's yield.

The rate of interest on mortgage-backed securities is lower than the interest rates paid on the mortgages included in the underlying pool due to the annual fees paid to the servicer of the mortgage pool for passing through monthly payments to certificate holders and to any guarantor, such as GNMA, and due to any yield retained by the issuer. Actual yield to the holder may vary from the coupon rate, even if adjustable, if the mortgage-backed securities are purchased or traded in the secondary market at a premium or discount. In addition, there is normally some delay between the time the issuer receives mortgage payments from the servicer and the time the issuer makes the payments on the mortgage-backed securities, and this delay reduces the effective yield to the holder of such securities.

On September 7, 2008, the U.S. Treasury Department and the Federal Housing Finance Authority (the "FHFA") announced that FNMA and FHLMC had been placed into conservatorship, a statutory process designed to stabilize a troubled institution with the objective of returning the entity to normal business operations. The U.S. Treasury Department and the FHFA at the same time established a secured lending facility and a Secured Stock Purchase Agreement with both FNMA and FHLMC to ensure that each entity had the ability to fulfill its financial obligations. The FHFA announced that it does not anticipate any disruption in pattern of payments or ongoing business operations of FNMA and FHLMC.

**Asset-Backed Securities.** The Fund may invest in asset-backed securities, which represent participations in, or are secured by and payable from, assets such as motor vehicle installment sales, installment loan contracts, leases of various types of real and personal property and receivables from revolving credit (credit card) agreements. Such assets are securitized through the use of trusts and special purpose corporations. Payments or distributions of principal and interest may be guaranteed up to certain amounts and for a certain time period by a letter of credit or a pool insurance policy issued by a financial institution unaffiliated with the trust or corporation.

Asset-backed securities present certain risks that are not presented by other securities in which the Fund may invest. Automobile receivables generally are secured by automobiles. Most issuers of automobile receivables permit the loan servicers to retain possession of the underlying obligations. If the servicer were to sell these obligations to another party, there is a risk that the purchaser would acquire an interest superior to that of the holders of the asset-backed securities. In addition, because of the large number of vehicles involved in a typical issuance and technical requirements under state laws, the trustee for the holders of the automobile receivables may not have a proper security interest in the underlying automobiles. Therefore, there is the possibility that recoveries on repossessed collateral may not, in some cases, be available to support payments on these securities. Credit card receivables are generally unsecured, and the debtors are entitled to the protection of a number of state and federal consumer credit laws, many of which give such debtors the right to set off certain amounts owed on the credit cards, thereby reducing the balance due. In addition, there is no assurance that the security interest in the collateral can be realized.

**Structured Notes, Bonds and Debentures.** The Fund may invest in structured notes, bonds and debentures. Typically, the value of the principal and/or interest on these instruments is determined by reference to changes in the value of specific currencies, interest rates, commodities, indexes or other financial indicators (the "Reference") or the relevant change in two or more References. The interest rate or the principal amount payable upon maturity or redemption may be increased or decreased depending upon changes in the applicable Reference. The terms of the

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| | |
|:---|:---|
| **EVENTIDE** | **24** |
| **EVENTIDE** | **24** |

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|:---|:---|
| **S T A T E M E N T O F A D D I T I O N A L I N F O R M A T I O N** | **N o v e m b e r 1, 2 0 2 5** |

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structured securities may provide that in certain circumstances no principal is due at maturity and, therefore, may result in the loss of the Fund's entire investment. The value of structured securities may move in the same or the opposite direction as the value of the Reference, so that appreciation of the Reference may produce an increase or decrease in the interest rate or value of the security at maturity. In addition, the change in interest rate or the value of the security at maturity may be a multiple of the change in the value of the Reference so that the security may be more or less volatile than the Reference, depending on the multiple. Consequently, structured securities may entail a greater degree of market risk and volatility than other types of debt obligations.

**Assignments and Participations.** The Fund may invest in assignments of and participations in loans issued by banks and other financial institutions. When the Fund purchases assignments from lending financial institutions, the Fund will acquire direct rights against the borrower on the loan. However, since assignments are generally arranged through private negotiations between potential assignees and potential assignors, the rights and obligations acquired by the Fund as the purchaser of an assignment may differ from, and be more limited than, those held by the assigning lender.

Participations in loans will typically result in the Fund having a contractual relationship with the lending financial institution, not the borrower. The Fund would have the right to receive payments of principal, interest and any fees to which it is entitled only from the lender of the payments from the borrower. In connection with purchasing a participation, the Fund generally will have no right to enforce compliance by the borrower with the terms of the loan agreement relating to the loan, nor any rights of set-off against the borrower, and the Fund may not benefit directly from any collateral supporting the loan in which it has purchased a participation. As a result, the Fund purchasing a participation will assume the credit risk of both the borrower and the lender selling the participation. In the event of the insolvency of the lender selling the participation, the Fund may be treated as a general creditor of the lender and may not benefit from any set-off between the lender and the borrower.

The Fund may have difficulty disposing of assignments and participations because there is no liquid market for such securities. The lack of a liquid secondary market will have an adverse impact on the value of such securities and on the Fund's ability to dispose of particular assignments or participations when necessary to meet the Fund's liquidity needs or in response to a specific economic event, such as a deterioration in the creditworthiness of the borrower. The lack of a liquid market for assignments and participations also may make it more difficult for the Fund to assign a value to these securities for purposes of valuing the Fund's portfolio and calculating its net asset value.

The Fund may invest in fixed and floating rate loans ("Loans") arranged through private negotiations between a foreign government (a "Borrower") and one or more financial institutions ("Lenders"). The majority of the Fund's investments in Loans are expected to be in the form of participations in Loans ("Participations") and assignments of portions of Loans from third parties ("Assignments"). Participations typically will result in the Fund having a contractual relationship only with the Lender, not with the Borrower. The Fund will have the right to receive payments of principal, interest and any fees to which it is entitled only from the Lender selling the Participation and only upon receipt by the Lender of the payments from the Borrower. In connection with purchasing Participations, the Fund generally will have no right to enforce compliance by the Borrower with the terms of the loan agreement relating to the Loan, nor any rights of set-off against the Borrower, and the Fund may not directly benefit from any collateral supporting the Loan in which it has purchased the Participation. As a result, the Fund will assume the credit risk of both the Borrower and the Lender that is selling the Participation. In the event of the insolvency of the Lender selling a Participation, the Fund may be treated as a general creditor of the Lender and may not benefit from any set-

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|:---|:---|
| **EVENTIDE** | **25** |
| **EVENTIDE** | **25** |

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|:---|:---|
| **S T A T E M E N T O F A D D I T I O N A L I N F O R M A T I O N** | **N o v e m b e r 1, 2 0 2 5** |

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off between the Lender and the Borrower. The Fund will acquire Participations only if the Lender interpositioned between the Fund and the Borrower is determined by the Adviser to be creditworthy.

**Floating Rate Loans and Benchmark Transition.** The Fund may invest in loans that bear interest at floating rates that were previously based on LIBOR. The elimination of the LIBOR benchmark or any other future benchmark, changes in the manner of administration of any benchmark, or actions by regulators or law enforcement agencies could require an adjustment to the terms and conditions, or result in other consequences, in respect of any debt linked to such benchmark. If the benchmark replacement rate is lower than market expectations, there could be an adverse impact on the value of preferred and debt securities with floating or fixed-to-floating rate coupons.

When the Fund purchases Assignments from Lenders, the Fund will acquire direct rights against the Borrower on the Loan. However, since Assignments are generally arranged through private negotiations between potential assignees and potential assignors, the rights and obligations acquired by the Fund as the purchaser of an Assignment may differ from, and be more limited than, those held by the assigning Lender.

There are risks involved in investing in Participations and Assignments. The Fund may have difficulty disposing of them because there is no liquid market for such securities. The lack of a liquid secondary market will have an adverse impact on the value of such securities and on the Fund's ability to dispose of particular Participations or Assignments when necessary to meet the Fund's liquidity needs or in response to a specific economic event, such as a deterioration in the creditworthiness of the Borrower. The lack of a liquid market for Participations and Assignments also may make it more difficult for the Fund to assign a value to these securities for purposes of valuing the Fund's portfolio and calculating its net asset value.

**Restricted and Illiquid Investments.** The Fund may acquire, in privately negotiated transactions, securities that cannot be offered for public sale in the United States without first being registered under the Securities Act. Restricted securities are subject to restrictions on resale under federal securities law. Because of these restrictions, the Fund may not be able to readily resell these securities at a price equal to what it might obtain for similar securities with a more liquid market. The Fund's valuation of these securities will reflect relevant liquidity considerations. Under criteria established by the Board, certain restricted securities sold pursuant to Rule 144A under the Securities Act may be determined to be liquid. To the extent that restricted securities are not determined to be liquid, the Fund will limit its purchase, together with other illiquid investments including non-negotiable time deposits and repurchase agreements providing for settlement in more than seven days after notice, to no more than 15% of its net assets.

Restricted securities in which the Fund may invest may include commercial paper issued in reliance on the exemption from registration afforded by Section 4(a)(2) of the Securities Act. Section 4(a)(2) commercial paper is restricted as to disposition under federal securities law, and is generally sold to institutional investors, such as the Fund, who agree that they are purchasing the paper for investment purposes and not with a view to public distribution. Any resale by the purchaser must be in an exempt transaction. Section 4(a)(2) commercial paper is normally resold to other institutional investors like the Funds through or with the assistance of the issuer or investment dealers who make a market in Section 4(a)(2) commercial paper, thus providing liquidity. The Adviser believes that Section 4(a)(2) commercial paper and possibly certain other restricted securities which meet the criteria for liquidity established by the Board are quite liquid. The Funds intend, therefore, to treat the restricted securities which meet the criteria for liquidity established by the Board, including Section 4(a)(2) commercial paper, as determined by the Adviser, as liquid and not subject to the investment limitations applicable to illiquid investments.

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|:---|:---|
| **EVENTIDE** | **26** |
| **EVENTIDE** | **26** |

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|:---|:---|
| **S T A T E M E N T O F A D D I T I O N A L I N F O R M A T I O N** | **N o v e m b e r 1, 2 0 2 5** |

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**Repurchase Agreements.** Securities held by the Fund may be subject to repurchase agreements. These transactions permit the Fund to earn income for periods as short as overnight. The Fund could receive less than the repurchase price on any sale of such securities. Under the terms of a repurchase agreement, the Fund would acquire securities from member banks of the Federal Deposit Insurance Corporation and registered broker-dealers and other financial institutions that the Adviser deems creditworthy under guidelines approved by the Board, subject to the seller's agreement to repurchase such securities at a mutually agreed-upon date and price. The repurchase price would generally equal the price paid by the Fund plus interest negotiated on the basis of current short-term rates, which may be more or less than the rate on the underlying portfolio securities. The seller under a repurchase agreement will be required to maintain continually the value of collateral held pursuant to the agreement at not less than the repurchase price (including accrued interest). If the seller were to default on its repurchase obligation or become insolvent, the Fund holding such obligation would suffer a loss to the extent that the proceeds from a sale of the underlying portfolio securities were less than the repurchase price under the agreement, or to the extent that the disposition of such securities by the Fund was delayed pending court action. Additionally, there is no controlling legal precedent confirming that the Fund would be entitled, as against a claim by such seller or its receiver or trustee in bankruptcy, to retain the underlying securities, although the Trust believes that, under the regular procedures normally in effect for custody of the Fund's securities subject to repurchase agreements and under federal laws, a court of competent jurisdiction would rule in favor of the Trust if presented with the question. Securities subject to repurchase agreements will be held by the Fund's custodian or another qualified custodian or in the Federal Reserve/Treasury book-entry system. Repurchase agreements are considered to be loans by the Fund under the 1940 Act.

Reverse repurchase agreements involve the risk that the market value of the securities retained by the Fund may decline below the price of the securities it has sold but is obligated to repurchase under the agreement. In the event the buyer of securities under a reverse repurchase agreement files for bankruptcy or becomes insolvent, the Fund's use of proceeds from the agreement may be restricted pending a determination by the other party or its trustee or receiver whether to enforce the Fund's obligation to repurchase the securities.

**Loans of Portfolio Securities.** The Fund may lend securities if such loans are secured continuously by liquid assets consisting of cash, U.S. government securities or irrevocable bank standby letters of credit in favor of the Fund at least equal at all times to 100% of the market value of the securities loaned, plus accrued interest. While such securities are on loan, the borrower will pay the Fund any income accruing thereon. Loans will be subject to termination by the Fund in the normal settlement time, currently three Business Days after notice, or by the borrower on one day's notice (as used herein, "Business Day" shall denote any day on which the New York Stock Exchange and the custodian are both open for business). Any gain or loss in the market price of the borrowed securities that occurs during the term of the loan inures to the lending Fund and its shareholders. The Fund may pay reasonable finders' and custodial fees, including fees to the Adviser or its affiliate, in connection with loans. In addition, the Fund will consider all facts and circumstances including the creditworthiness of the borrowing financial

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|:---|:---|
| **EVENTIDE** | **27** |
| **EVENTIDE** | **27** |

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|:---|:---|
| **S T A T E M E N T O F A D D I T I O N A L I N F O R M A T I O N** | **N o v e m b e r 1, 2 0 2 5** |

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institution, and the Fund will not lend their securities to any director, officer, employee, or affiliate of the Adviser, the administrator or distributor, unless permitted by applicable law. Loans of portfolio securities involve risks, such as delays or an inability to regain the securities or collateral adjustments in the event the borrower defaults or enters into bankruptcy.

**Short Sales "Against the Box."** The Fund may engage in short sales "against the box." In a short sale, the Fund sells a borrowed security and has a corresponding obligation to the lender to return the identical security. The seller does not immediately deliver the securities sold and is said to have a short position in those securities until delivery occurs. The Fund may engage in a short sale if at the time of the short sale the Fund owns or has the right to obtain without additional cost an equal amount of the security being sold short. This investment technique is known as a short sale "against the box." It may be entered into by the Fund to, for example, lock in a sale price for a security the Fund does not wish to sell immediately. No more than 10% of the Fund's net assets (taken at current value) may be held as collateral for short sales against the box at any one time.

The Fund may make a short sale as a hedge, when it believes that the price of a security may decline, causing a decline in the value of a security owned by the Fund (or a security convertible or exchangeable for such security). In such case, any future losses in the Fund's long position should be offset by a gain in the short position and, conversely, any gain in the long position should be reduced by a loss in the short position. The extent to which such gains or losses are reduced will depend upon the amount of the security sold short relative to the amount the Fund owns. There will be certain additional transaction costs associated with short sales against the box, but the Fund will endeavor to offset these costs with the income from the investment of the cash proceeds of short sales.

If the Fund effects a short sale of securities at a time when it has an unrealized gain on the securities, it may be required to recognize that gain as if it had actually sold the securities (as a "constructive sale") on the date it effects the short sale. However, such constructive sale treatment may not apply if the Fund closes out the short sale with securities other than the appreciated securities held at the time of the short sale and if certain other conditions are satisfied. Uncertainty regarding the tax consequences of effecting short sales may limit the extent to which the Fund may effect short sales.

**Short Sales (Excluding Short Sales "Against the Box").** The Fund may sell securities short or purchase ETFs that sell securities short. A short sale is a transaction in which the Fund sells securities it does not own in anticipation of a decline in the market price of the securities.

To deliver the securities to the buyer, the Fund must arrange through a broker to borrow the securities and, in so doing, the Fund becomes obligated to replace the securities borrowed at their market price at the time of replacement, whatever that price may be. The Fund will make a profit or incur a loss as a result of a short sale depending on whether the price of the securities decreases or increases between the date of the short sale and the date on which the Fund purchases the security to replace the borrowed securities that have been sold. The amount of any loss would be increased (and any gain decreased) by any premium or interest the Fund is required to pay in connection with a short sale.

The Fund's obligation to replace the securities borrowed in connection with a short sale will be secured by cash or liquid securities deposited as collateral with the broker. In addition, the Fund will place in a segregated account with its custodian or a qualified sub-custodian an amount of cash or liquid securities equal to the difference, if any, between (i) the market value of the securities sold at the time they were sold short and (ii) any cash or liquid

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|:---|:---|
| **EVENTIDE** | **28** |
| **EVENTIDE** | **28** |

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|:---|:---|
| **S T A T E M E N T O F A D D I T I O N A L I N F O R M A T I O N** | **N o v e m b e r 1, 2 0 2 5** |

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securities deposited as collateral with the broker in connection with the short sale (not including the proceeds of the short sale). Until it replaces the borrowed securities, the Fund will maintain the segregated account daily at a level so that (a) the amount deposited in the account plus the amount deposited with the broker (not including the proceeds from the short sale) will equal the current market value of the securities sold short and (b) the amount deposited in the account plus the amount deposited with the broker (not including the proceeds from the short sale) will not be less than the market value of the securities at the time they were sold short.

**Municipal Securities.** Municipal securities are debt obligations issued to obtain funds for various public purposes, including the construction of a wide range of public facilities such as airports, bridges, highways, housing, hospitals, mass transportation, schools, streets and water and sewer works. Other public purposes for which municipal securities may be issued include refunding of outstanding obligations, obtaining funds for general operating expenses and obtaining funds to loan to other public institutions and facilities. In addition, certain types of industrial development bonds are issued by or on behalf of public authorities to obtain funds to provide privately-operated housing facilities, sports facilities, convention or trade show facilities, airport, mass transit, port or parking facilities, air or water pollution control facilities and certain local facilities for water supply, gas, electricity, or sewage or solid waste disposal. Such obligations, which may include lease arrangements, are included within the term "municipal securities" if the interest paid thereon qualifies as exempt from federal income tax. Other types of industrial development bonds, the proceeds of which are used for the construction, equipment, repair or improvement of privately operated industrial or commercial facilities, may constitute municipal securities, although the current federal tax laws place substantial limitations on the size of such issues.

The two principal classifications of municipal securities are "general obligation" and "revenue" bonds. General obligation bonds are secured by the issuer's pledge of its full faith, credit and taxing power for the payment of principal and interest. Revenue bonds are payable only from the revenues derived from a particular facility or class of facilities or, in some cases, from the proceeds of a special excise or other specific revenue source. Industrial development bonds that are municipal securities are in most cases revenue bonds and do not generally involve the pledge of the credit of the issuer of such bonds. There are, of course, variations in the degree of risk of municipal securities, both within a particular classification and between classifications, depending upon numerous factors.

The yields on municipal securities are dependent upon a variety of factors, including general money market conditions, general conditions of the municipal securities market, size of particular offering, maturity of the obligation and rating of the issue. The ratings of Moody's and S&P represent their opinions as to the quality of the municipal securities which they undertake to rate. It should be emphasized, however, that ratings are general and are not absolute standards of quality. Consequently, municipal securities with the same maturity, coupon and rating may have different yields, while municipal securities of the same maturity and coupon with different ratings may have the same yield.

The Fund may invest in "private activity" bonds. The Fund may also purchase participation interests in municipal securities (such as industrial development bonds) from financial institutions, including banks, insurance companies and broker-dealers. A participation interest gives the Fund an undivided interest in the municipal securities in the proportion that the Fund's participation interest bears to the total principal amount of the municipal securities. These instruments may be variable or fixed rate.

Provisions of the federal bankruptcy statutes relating to the adjustment of debts of political subdivisions and authorities of states of the United States provide that, in certain circumstances, such subdivisions or authorities may

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|:---|:---|
| **EVENTIDE** | **29** |
| **EVENTIDE** | **29** |

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|:---|:---|
| **S T A T E M E N T O F A D D I T I O N A L I N F O R M A T I O N** | **N o v e m b e r 1, 2 0 2 5** |

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be authorized to initiate bankruptcy proceedings without prior notice to or consent of creditors, which proceedings could result in material and adverse modification or alteration of the rights of holders of obligations issued by such subdivisions or authorities.

Litigation challenging the validity under state constitutions of present systems of financing public education has been initiated or adjudicated in a number of states, and legislation has been introduced to effect changes in public school finances in some states. In other instances, there has been litigation challenging the issuance of pollution control revenue bonds or the validity of their issuance under state or federal law which litigation could ultimately affect the validity of those municipal securities or the tax-free nature of the interest thereon.

Disclosure of Portfolio Holdings

The Board has adopted policies and procedures for the public and nonpublic disclosure of the Funds' portfolio securities.

As a general matter, no information concerning the portfolio holdings of a Fund may be disclosed to any unaffiliated third party except (1) to service providers that require such information in the course of performing their duties (for example, the Fund's custodian, administrator, investment adviser, sub-investment adviser, independent public accountants, attorneys, officers and trustees) and are subject to a duty of confidentiality including duties not to trade on non-public information, and (2) pursuant to certain exceptions that serve a legitimate business purpose. These exceptions may include: (1) disclosure of portfolio holdings only after such information has been publicly disclosed on the Fund's website, in marketing materials (provided the portfolio holdings disclosed in the materials are at least 15 days old) or through filings with the SEC as described below and (2) to third-party vendors, that (a) agree to not distribute the portfolio holdings or results of the analysis to third parties, other departments or persons who are likely to use the information for purposes of purchasing or selling the Fund before the portfolio holdings or results of the analysis become publicly available; and (b) sign a written confidentiality agreement. The confidentiality agreement must provide, but is not limited to, that the recipient of the portfolio holdings information agrees to limit access to the portfolio holdings information to its employees who, on a need to know basis are (1) authorized to have access to the portfolio holdings information and (2) subject to confidentiality obligations, including duties not to trade on non-public information, no less restrictive than the confidentiality obligations contained in the confidentiality agreement. Non-public holdings information may also be provided to an issuer regarding the number or percentage of its shares that are owned by a Fund and in connection with redemptions in kind.

The Funds' portfolio holdings are currently disclosed to the public through filings with the SEC. The Funds disclose their portfolio holdings by delivering the Financial Statements, or notice of electronic availability thereof, to shareholders approximately two months after the end of the fiscal year and semi-annual period. In addition, the Funds disclose their portfolio holdings reports on Forms N-CSR two months after the end of each semi- annual period and on Form N-PORT within 60 days after each fiscal quarter end.

Neither the Funds nor the Adviser may enter into any arrangement providing for the disclosure of non-public portfolio holding information for the receipt of compensation or benefit of any kind. Any exceptions to the policies and procedures may only be made by the consent of the Trust's Chief Compliance Officer upon a determination that

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|:---|:---|
| **EVENTIDE** | **30** |
| **EVENTIDE** | **30** |

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|:---|:---|
| **S T A T E M E N T O F A D D I T I O N A L I N F O R M A T I O N** | **N o v e m b e r 1, 2 0 2 5** |

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such disclosure serves a legitimate business purpose and is in the best interests of the Funds and will be reported to the Board at the Board's next regularly scheduled meeting.

Trustees and Officers

The Board manages the business and affairs of the Trust and appoints or elects officers responsible for the day-to-day operations of the Trust and the execution of policies established by Board resolution or directive. In the absence of such provisions, the respective officers have the powers and discharge the duties customarily held and performed by like officers of corporations similar in organization and business purposes.

The Trustees who are not "interested persons" (for regulatory purposes) of the Trust, Adviser or Sub-Adviser or the distributor (the "Independent Trustees") are charged with, among other functions, recommending to the full Board approval of the distribution, transfer agency and accounting services agreements and the investment advisory agreements. When considering approval of the existing advisory agreements, the Independent Trustees evaluate the nature and quality of the services provided by the Adviser, the performance of the Funds, the Adviser's costs and the profitability of the agreements to the Adviser, ancillary benefits to the Adviser or its affiliates in connection with its relationship to a Fund and the amount of fees charged in comparison to those of other investment companies.

The Board currently has three standing committees: the Audit Committee, the Risk and Compliance Committee and Nominating Committee. Each committee is described below.

The term of office for each Trustee is for the duration of the Trust or until death, removal, resignation or retirement. The term of office of each officer is until the successor is elected.

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| **EVENTIDE** | **31** |
| **EVENTIDE** | **31** |

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|:---|:---|
| **S T A T E M E N T O F A D D I T I O N A L I N F O R M A T I O N** | **N o v e m b e r 1, 2 0 2 5** |

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Information pertaining to the Trustees and officers of the Trust, including their principal occupations for the last five years, is set forth below.

Independent Trustees

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| | | | | | |
|:---|:---|:---|:---|:---|:---|
| *Name, Address<br> Year of Birth* | *Position(s) Held<br> with Registrant* | *Term and <br> Length <br> Served<sup>1</sup>* | *Principal Occupation(s) <br> During Past 5 Years* | *Number of <br> Portfolios <br> Overseen in <br> the Fund <br> Complex<sup>2</sup>* | *Other Directorships Held <br> During Past 5 Years* |
| Tobias Caldwell<br>c/o Mutual Fund Series Trust<br>36 N. New York Avenue, Huntington, NY 11743<br>Year of Birth: 1967<br>| Lead Trustee, Chairman of the Audit Committee and Nominating Committee | Since 6/2006 | Manager, Genovese Family Enterprises, LLC (and affiliates, family office) 1999-present, Managing Member, Bear Properties, LLC (real estate firm) (2006-present). | 13 | Chairman of the Board, Mutual Fund and Variable Insurance Trust since 2016; Chairman of the Board, Strategy Shares since 2016; Trustee, IDX Funds Trust (formerly, M3Sixty Funds Trust) since 2016; Chairman of the Board, Catalyst/Perini Strategic Income Fund since April 2024; Chairman of the Board of AlphaCentric Prime Meridian Income Fund from 2018 to August 2023.  |
| Tiberiu Weisz<br>c/o Mutual Fund Series Trust<br>36 N. New York Avenue, Huntington, NY 11743<br>Year of Birth: 1949 | Trustee, Chairman <br> of the Risk and Compliance Committee | Since 6/2006 | Attorney since 1982. | 8 | Trustee and Chairman of the Risk and Compliance Committee, Catalyst/Perini Strategic Income Fund since April 2024. |
| Stephen P. Lachenauer<br>c/o Mutual Fund Series Trust<br>36 N. New York Avenue, Huntington, NY 11743<br>Year of Birth: 1967<br>| Trustee | Since 4/2022 | Attorney, private practice since 2010.<br>| 13 | Trustee and Chairman of the Audit and Risk and Compliance Committees since 2016, and Chairman of the Investment Committee since November 2020, Mutual Fund and Variable Insurance Trust; Trustee and Chairman of the Audit and Risk and Compliance Committees since 2016, and Chairman of the Investment Committee since November 2020, Strategy Shares; Trustee and Chairman of the Audit Committee, Catalyst/Perini Strategic Income Fund since 2024; Trustee and Chairman of the Audit and Risk and Compliance Committees from 2018 to 2023, and Chairman of the Investment Committee from 2020 to 2023, AlphaCentric Prime Meridian Income Fund. |

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|:---|:---|
| **EVENTIDE** | **32** |
| **EVENTIDE** | **32** |

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|:---|:---|
| **S T A T E M E N T O F A D D I T I O N A L I N F O R M A T I O N** | **N o v e m b e r 1, 2 0 2 5** |

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Interested Trustee<sup>3</sup>

 

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| | | | | | |
|:---|:---|:---|:---|:---|:---|
| *Name, Address,<br> Year of Birth* | *Position(s) Held<br> with Registrant* | *Term and <br> Length <br> Served<sup>1</sup>* | *Principal Occupation(s) <br> During Past 5 Years* | *Number of <br> Portfolios <br> Overseen In <br> The Fund <br> Complex<sup>2</sup>* | *Other Directorships Held* <br> *During Past 5 Years*<br>|
| Jerry Szilagyi<br>207 Calle del Parque, AM Tower, Floor 7, Suite 2, San Juan, PR 00912-3242<br>Year of Birth: 1962<br>| Chairman of the Board | Trustee since 7/2006; President 2/2012-3/2022 | President of the Trust, 2/2012—3/2022; President, Rational Advisors, Inc., since 2016; Chief Executive Officer, Catalyst Capital Advisors LLC, since 2006; Member, AlphaCentric Advisors LLC, since 2014; Managing Member, MFund Distributors LLC, since 2012; Managing Member, MFund Services LLC, since 2012; CEO, Catalyst International Advisors LLC, since 2019; CEO, Insights Media LLC, since 2019; CEO, MFund Management LLC, since 2019. | 8 |  |

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|:---|:---|
| **EVENTIDE** | **33** |
| **EVENTIDE** | **33** |

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|:---|:---|
| **S T A T E M E N T O F A D D I T I O N A L I N F O R M A T I O N** | **N o v e m b e r 1, 2 0 2 5** |

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Officers

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| | | | | | |
|:---|:---|:---|:---|:---|:---|
| *Name, Address,<br> Year of Birth* | *Position(s) Held<br> with Registrant* | *Term and <br> Length <br> Served<sup>1</sup>* | *Principal Occupation(s) <br> During Past 5 Years* | *Number of <br> Portfolios <br> Overseen In <br> The Fund <br> Complex<sup>2</sup>* | *Other Directorships Held <br> During Past 5 Years* |
| Michael Schoonover<br>207 Calle del Parque, AM Tower, Floor 7, Suite 2, San Juan, PR 00912-3242<br>Year of Birth: 1985<br>| President | Since 3/2022 | Vice President of the Trust, 2018-2022; Chief Operating Officer, Catalyst Capital Advisors LLC and Rational Advisors, Inc., since 2017; Portfolio Manager, Catalyst Capital Advisors LLC 12/2013 to 5/2021; President, MFund Distributors LLC, since 2020; COO, Catalyst International Advisors LLC, since 2019; COO, Insights Media LLC, since 2019; COO, MFund Management LLC, since 2019; COO, AlphaCentric Advisors LLC, since 2021. | N/A | N/A |
| Alex Merino<br>207 Calle del Parque, AM Tower, Floor 7, Suite 2, San Juan, PR 00912-3242<br>Year of Birth: 1985  | Vice President | Since 3/2022 | Investment Operations Manager, MFund Management LLC, 1/2022–present; Investment Operations Analyst, MFund Management LLC, 9/2020–12/2021; Tax Senior Associate, PwC Asset & Wealth Management NY Metro, 7/2016–6/2019.  | N/A | N/A |
| Thomas Hamel<br>c/o Mutual Fund Series Trust<br>36 N. New York Avenue <br>Huntington, NY 11743<br>Year of Birth: 1969 | Vice President | Since 11/2024 | Managing Director, Head of Investment Operations, Catalyst Capital Advisors LLC, AlphaCentric Advisors LLC and Rational Advisors, Inc., since 1/2024; COO, Head of Investment Operations & Accounting, Captain Technologies, 9/2020 to 1/2024; Head of Client & Investment Operations, Aksia LLC, 4/2009 8/2020. | N/A | N/A |

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|:---|:---|
| **EVENTIDE** | **34** |
| **EVENTIDE** | **34** |

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|:---|:---|
| **S T A T E M E N T O F A D D I T I O N A L I N F O R M A T I O N** | **N o v e m b e r 1, 2 0 2 5** |

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| | | | | | |
|:---|:---|:---|:---|:---|:---|
| *Name, Address,<br> Year of Birth* | *Position(s) Held<br> with Registrant* | *Term and <br> Length <br> Served<sup>1</sup>* | *Principal Occupation(s) <br> During Past 5 Years* | *Number of <br> Portfolios <br> Overseen In <br> The Fund <br> Complex<sup>2</sup>* | *Other Directorships Held <br> During Past 5 Years* |
| Erik Naviloff<br>80 Arkay Drive, Suite 110, Hauppauge, NY 11788<br>Year of Birth: 1968 | Treasurer<br>| Since 4/2012<br>| Vice President – Fund Administration, Ultimus Fund Solutions, LLC, since 2011.<br>| N/A | N/A |
| Brian Curley<br>80 Arkay Drive, Suite 110, Hauppauge, NY 11788<br>Year of Birth: 1970 | Assistant Treasurer<br>| Since 11/2013<br>| Vice President – Fund Administration, Ultimus Fund Solutions, LLC since 1/2015.<br>| N/A | N/A |
| Sam Singh<br>80 Arkay Drive, Suite 110, Hauppauge, NY 11788<br>Year of Birth: 1976  | Assistant Treasurer<br>| Since 2/2015<br>| Vice President – Fund Administration, Ultimus Fund Solutions, LLC since 1/2015.<br>| N/A | N/A |
| Frederick J. Schmidt<br>36 N. New York Avenue<br>Huntington, NY 11743<br>Year of Birth: 1959 | Chief Compliance Officer | Since 5/2015 | Director of Compliance Services, MFund Services LLC since 5/2015. | N/A | N/A |
| Jennifer A. Bailey<br>36 N. New York Avenue<br>Huntington, NY<br>11743<br>Year of Birth: 1968 | Secretary | Since 4/2014 | Director of Legal Services, MFund Services LLC, since 2012. <br>| N/A | N/A |

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1. The
 term of office of each Trustee is indefinite.

2. Series
 of the Trust and Strategy Shares that are advised by the Adviser constitute the "Fund
 Complex."

3. The
 Trustee who is an "interested person" of the Trust as defined in the 1940 Act
 is an interested person by virtue of being an officer of the advisor to certain series of
 the Trust.

**Leadership Structure.** The Trust is led by Jerry Szilagyi, who has served as the Chairman of the Board since 2010. Mr. Szilagyi is an interested person by virtue of his controlling interests in Catalyst Capital Advisers LLC and AlphaCentric Advisers LLC, investment advisers to certain other series of the Trust. The Board consists of Mr. Szilagyi, an Interested

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| | |
|:---|:---|
| **EVENTIDE** | **35** |
| **EVENTIDE** | **35** |

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|:---|:---|
| **S T A T E M E N T O F A D D I T I O N A L I N F O R M A T I O N** | **N o v e m b e r 1, 2 0 2 5** |

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Trustee, and Tobias Caldwell, Stephen Lachenauer, and Tiberiu Weisz, each an Independent Trustee. Mr. Caldwell serves as the Lead Independent Trustee. The Lead Independent Trustee serves as a key point person for dealings between management and the Independent Trustees and assists in setting the agendas for Board meetings. The Independent Trustees meet in executive session at each Board meeting. Under the Trust's bylaws and governance guidelines, the Chairman of the Board is responsible for (a) chairing Board meetings, (b) setting the agendas for these meetings and (c) providing information to Board members in advance of each Board meeting and between Board meetings. The Board believes this is the most appropriate leadership structure for the Trust given Mr. Szilagyi's background in the investment management industry and his experience in providing both advisory and administrative services to other mutual funds. Additionally, as the Managing Member of MFund Services LLC, which provides management and legal administrative services to the Funds, Mr. Szilagyi is well positioned and informed regarding issues requiring the attention of the Board, and as the leader of the Board, can ensure such issues are included in the Board's agenda for meetings and that appropriate time is allocated to discuss such issues and take any necessary actions.

**Risk Oversight.** In its risk oversight role, the Board oversees risk management, and the full Board engages in discussions of risk management and receives reports on investment and compliance risk at quarterly meetings and on an ad hoc basis, when and if necessary. The Board, directly or through the Audit Committee and the Risk and Compliance Committee, reviews reports from among others, the Adviser, Sub-Adviser, the Trust's Chief Compliance Officer, the Trust's independent registered public accounting firm, and the Independent Trustees' counsel, as appropriate, regarding risks faced by the Trust and the Funds and the risk management programs of the Trust, the Adviser and certain service providers. The full Board regularly engages in discussions of risk management and receives compliance reports that inform its oversight of risk management from the Trust's Chief Compliance Officer at quarterly meetings and on an ad hoc basis, when and if necessary. The Trust's Chief Compliance Officer also meets at least quarterly in executive session with the Independent Trustees. The actual day-to-day risk management with respect to the Funds resides with the Adviser and other service providers to the Funds. Although the risk management policies of the Adviser and the service providers are designed to be effective, those policies and their implementation vary among service providers and over time, and there is no guarantee that they will be effective. Generally, the Board believes that its oversight of material risks is adequately maintained through the risk-reporting chain where the Chief Compliance Officer is the primary recipient and communicator of such risk-related information.

The Board also considers liquidity risk management issues as part of its general oversight responsibilities and oversees the Fund's liquidity risk through, among other things, receiving periodic reporting and presentations by the Liquidity Risk Management ("LRM") Program Administrator that address liquidity matters. As required by Rule 22e-4 under the 1940 Act, the Board, including a majority of the Independent Trustees, has approved the Trust's LRM Program, which is reasonably designed to assess and manage the Trust's liquidity risk, and has appointed the LRM Program Administrator that is responsible for administering the LRM Program. The Board also reviews, no less frequently than annually, a written report prepared by the LRM Program Administrator that addresses, among other items, the operation of the program and assesses its adequacy and effectiveness of implementation.

**Audit Committee.** Mr. Caldwell, Mr. Lachenauer and Mr. Weisz serve on the Board's Audit Committee. The Board's Audit Committee is a standing independent committee with a separate chair. The primary function of the Audit Committee is to assist the full Board in fulfilling its oversight responsibilities to the shareholders and the investment community relating to fund accounting, reporting practices and the quality and integrity of the financial reports. To satisfy these responsibilities, the Audit Committee reviews with the independent auditors, the audit plan and results

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| | |
|:---|:---|
| **EVENTIDE** | **36** |
| **EVENTIDE** | **36** |

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|:---|:---|
| **S T A T E M E N T O F A D D I T I O N A L I N F O R M A T I O N** | **N o v e m b e r 1, 2 0 2 5** |

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and recommendations following independent audits, reviews the performance of the independent auditors and recommends engagement or discharge of the auditors to the full Board, reviews the independence of the independent auditors, reviews the adequacy of the Funds' internal controls and prepares and submits Audit Committee meeting minutes and supporting documentation to the full Board. During the fiscal year ended June 30, 2025, the Audit Committee met four times.

**Risk and Compliance Committee.** Mr. Caldwell, Mr. Lachenauer and Mr. Weisz serve on the Board's Risk and Compliance Committee. The Risk and Compliance Committee is a standing independent committee with a separate chair. The primary function of the Risk and Compliance Committee is to assist the full Board in fulfilling its oversight responsibilities to the shareholders and the investment community relating to the adequacy and effectiveness of the Trust's compliance program and to oversee the Trust's Chief Compliance Officer. The Risk and Compliance Committee meets as often as necessary, and no less than quarterly. During the fiscal year ended June 30, 2025, the Risk and Compliance Committee met four times.

**Nominating Committee.** Mr. Caldwell, Mr. Lachenauer and Mr. Weisz serve on the Board's Nominating Committee. The Board's Nominating Committee is a standing independent committee with a separate chair. The primary functions of the Nominating Committee are to assist the Board in carrying out its responsibilities relating to (i) the identification and selection of qualified individuals to become Board members and members of Board committees and (ii) the development, adoption and periodic monitoring and updating of criteria and characteristics relating to the consideration, nomination and selection of interested and non-interested trustees. The Nominating Committee meets as often as is necessary.

**Background and Qualifications of the Trustees.** Mr. Szilagyi is the managing member of Catalyst Capital Advisers LLC, an original sponsor of the Trust, and an investment adviser to other series of the Trust as well as another registered investment company. He is a member of AlphaCentric Advisers LLC, an investment adviser to other series of the Trust and an owner and President of Rational Advisers, Inc, the investment adviser to other registered investment companies. He is also Managing Member of MFund Services LLC, which provides compliance, management and legal administrative services to the Trust. Mr. Szilagyi has many years of experience managing mutual funds and providing administrative services to other mutual funds. His experience in the investment management industry makes him uniquely qualified to serve as the Trust's Chairman.

Mr. Caldwell is the manager of the Genovese family office and a managing member of a real estate management firm. Mr. Caldwell's experience in the investment and real estate industries provides the Board with an additional perspective and understanding of investment strategies used by advisors or sub-advisors to the funds. Mr. Caldwell also serves on the boards of other mutual fund trusts, including boards of other registered investment companies in the Fund Complex.

Mr. Lachenauer has been an attorney in private practice for over fifteen years, providing advice and counsel to small businesses and individuals on real estate, commercial contracts, general business and financial matters. Mr. Lachenauer's previous experience at large law firms and as an attorney at a large investment bank provides the Board with knowledge of financial and investment regulatory matters. Mr. Lachenauer also serves on the boards of other registered investment companies in the Fund Complex.

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|:---|:---|
| **EVENTIDE** | **37** |
| **EVENTIDE** | **37** |

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|:---|:---|
| **S T A T E M E N T O F A D D I T I O N A L I N F O R M A T I O N** | **N o v e m b e r 1, 2 0 2 5** |

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Mr. Weisz is an attorney and provides the Board with general insight and experience regarding its duties and standards of care. Mr. Weisz also serves on the board of another registered investment company in the Fund Complex. Mr. Weisz also serves on the board of another registered investment company in the Fund Complex.

Share Ownership in the Funds

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| | | | | |
|:---|:---|:---|:---|:---|
| Fund Shares Owned by Trustees as of December 31, 2024 | Fund Shares Owned by Trustees as of December 31, 2024 | Fund Shares Owned by Trustees as of December 31, 2024 | Fund Shares Owned by Trustees as of December 31, 2024 | Fund Shares Owned by Trustees as of December 31, 2024 |
| Dollar Range of Equity Securities in: | Mr. Caldwell | Mr. Weisz | Mr. Lachenauer | Mr. Szilagyi |
| Gilead Fund | &nbsp;&nbsp;&nbsp;$50001 - $100000 | &nbsp;&nbsp;&nbsp;$10001 - $50000 |  | &nbsp;&nbsp;&nbsp;$10001 - $50000 |
| Healthcare & Life Sciences Fund | &nbsp;&nbsp;&nbsp;$50001 - $100000 |  |  | &nbsp;&nbsp;&nbsp;$10001 - $50000 |
| Balanced Fund |  |  |  | &nbsp;&nbsp;&nbsp;$10001 - $50000 |
| Dividend Growth Fund |  |  |  | &nbsp;&nbsp;&nbsp;$10001 - $50000 |
| Limited-Term Bond Fund |  |  |  | &nbsp;&nbsp;&nbsp;$0 - $10000 |
| Exponential Technologies Fund |  |  |  | &nbsp;&nbsp;&nbsp;$10001 - $50000 |
| Core Bond Fund |  |  |  | &nbsp;&nbsp;&nbsp;$0 - $10000 |
| Large Cap Focus Fund |  |  |  | &nbsp;&nbsp;&nbsp;$10001 - $50000 |
| Aggregate Dollar Range of Equity Securities in All Registered Investment Companies Overseen by Director in Family of Investment Conpanies<sup>2</sup> | &nbsp;&nbsp;&nbsp;Over $100,000 | &nbsp;&nbsp;&nbsp;$10001 - $50000 | &nbsp;&nbsp;&nbsp;$10001 - $50000 | &nbsp;&nbsp;&nbsp;Over $100,000 |

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COMPENSATION OF THE BOARD OF TRUSTEES

The Independent Trustees are paid a quarterly retainer and receive compensation for each special in-person meeting attended. The fees paid to the Independent Trustees for their attendance at a meeting are shared equally by the Funds of the Trust. The Lead Independent Trustee and the Chairmen of the Trust's Audit Committee and Risk and Compliance Committee receive an additional quarterly retainer.

The following table describes the compensation paid to the Trustees during the fiscal year ended June 30, 2025. The Trust has no retirement or pension plans.

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| | | | | |
|:---|:---|:---|:---|:---|
| Aggregate Compensation from: | Mr. Caldwell | Mr. Weisz | Mr. Lachenauer | Mr. Szilagyi<sup>1</sup> |
| Gilead Fund | $6116 | $4964 | $4677 | &nbsp;&nbsp;&nbsp;&nbsp;$0 |
| Healthcare & Life Sciences Fund | $6116 | $4964 | $4677 | $0 |
| Balanced Fund | $6116 | $4964 | $4677 | $0 |
| Dividend Growth Fund | $6116 | $4964 | $4677 | $0 |
| Limited-Term Bond Fund | $6116 | $4964 | $4677 | $0 |
| Exponential Technologies Fund | $6116 | $4964 | $4677 | $0 |
| Core Bond Fund | $6116 | $4964 | $4677 | $0 |
| Large Cap Focus Fund | $6116 | $4964 | $4677 | $0 |
| Total Compensation from Fund Complex<sup>2</sup> | $55362 | $39715 | $44085 | $0 |

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1. Mr.
 Szilagyi is compensated by Catalyst Capital Advisers, LLC and AlphaCentric Advisors LLC for
 advisory services and MFund Services LLC for management and legal administrative support
 services to the Trust. Please see the "Transfer Agent, Fund Accounting and Administrator"
 section for more details.

2. Series
 of the Trust and Strategy Shares that are advised by the Adviser constitute the "Fund
 Complex."

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| | |
|:---|:---|
| **EVENTIDE** | **38** |
| **EVENTIDE** | **38** |

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|:---|:---|
| **S T A T E M E N T O F A D D I T I O N A L I N F O R M A T I O N** | **N o v e m b e r 1, 2 0 2 5** |

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Principal Shareholders

Persons controlling a Fund can determine the outcome of any proposal submitted to the shareholders for approval, including changes to a Fund's fundamental policies or the terms of the advisory agreement with the adviser. Persons owning 25% or more of the outstanding shares of a Fund (or a class of shares of a Fund) may be deemed to control the Fund (or class of the Fund). Persons owning 5% or more of the outstanding shares of the Fund (or a class of shares of the Fund) may be deemed principal shareholders of the Fund (or a class of the Fund).

GILEAD FUND

**Class A.** As of October 2, 2025, the following persons owned 5% or more of the outstanding shares of the Fund's Class A shares:

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| | | |
|:---|:---|:---|
| Name and Address of Owner | Number of Record and Beneficial <br> (Shares) | Percent (%) of Class |
| LPL Financial<br>P.O. Box 509046<br>San Diego, CA 92150-9046<br>| 857495.2140 | 15.54% |
| American Enterprise<br>707 2<sup>nd</sup> Ave South<br>Minneapolis, MN 55402<br>| 790389.5750 | 14.32% |
| Charles Schwab & Co<br>ATTN Mutual Funds<br>211 Main Street<br>San Francisco, CA 94105<br>| 589559.8320 | 10.68% |
| Morgan Stanley<br>1 New York Plaza, 12<sup>th</sup> Fl<br>New York, NY 10004-1901 | 342282.8220 | 6.20% |

---

As of October 2, 2025, securities of the Fund owned by all officers and Trustees, including beneficial ownership, as a group represented less than 1.00% of the outstanding Class A shares of the Fund.

---

| | |
|:---|:---|
| **EVENTIDE** | **39** |
| **EVENTIDE** | **39** |

---

---

| | |
|:---|:---|
| **S T A T E M E N T O F A D D I T I O N A L I N F O R M A T I O N** | **N o v e m b e r 1, 2 0 2 5** |

---

**Class C.** As of October 2, 2025, the following persons owned 5% or more of the outstanding shares of the Fund's Class C shares:

---

| | | |
|:---|:---|:---|
| Name and Address of Owner | Number of Record and Beneficial <br> (Shares) | Percent (%) of Class |
| LPL Financial<br>P.O. Box 509046<br>San Diego, CA 92150-9046<br>| 253155.7980 | 8.93% |
| Raymond James<br>880 Carillon Parkway<br>Saint Petersburg, FL 33716<br>| 696236.3850 | 24.57% |
| American Enterprise<br>707 2nd Ave South<br>Minneapolis, MN 55402<br>| 834034.9690 | 29.43%<sup>1</sup> |
| Charles Schwab & Co<br>ATTN Mutual Funds<br>211 Main Street<br>San Francisco, CA 94105<br>| 332288.9700 | 11.73% |

---

1. May
 be deemed to control Class C shares of the Fund because holds more than 25% of the outstanding
 Class C shares.

As of October 2, 2025, securities of the Fund owned by all officers and Trustees, including beneficial ownership, as a group represented less than 1.00% of the outstanding shares of the Fund's Class C shares.

The shareholders listed above own shares for investment purposes and have no known intention of exercising any control of the Fund.

**Class N.** As of October 2, 2025, the following persons owned 5% or more of the outstanding shares of the Fund's Class N shares:

---

| | |
|:---|:---|
| Name and Address of Owner | Number of Record and Beneficial <br> (Shares) |
| Charles Schwab & Co<br>ATTN Mutual Funds<br>211 Main Street<br>San Francisco, CA 94105<br>| 2163472.213042.29%<sup>1</sup> |

---

1. May
 be deemed to control Class N shares of the Fund because holds more than 25% of the outstanding
 Class N shares.

As of October 2, 2025, securities of the Fund owned by all officers and Trustees, including beneficial ownership, as a group represented less than 1.00% of the outstanding shares of the Fund's Class N shares.

The shareholders listed above own shares for investment purposes and have no known intention of exercising any control of the Fund.

**Class I.** As of October 2, 2025, the following persons owned 5% or more of the outstanding shares of the Fund's Class I shares:

---

| | | |
|:---|:---|:---|
| Name and Address of Owner | Number of Record and Beneficial <br> (Shares) | Percent (%) of Class |
| LPL Financial<br>P.O. Box 509046<br>San Diego, CA 92150-9046<br>| &nbsp;&nbsp;&nbsp;2929034.7850 | &nbsp;&nbsp;&nbsp;8.29% |
| Raymond James<br>880 Carillon Parkway<br>Saint Petersburg, FL 33716<br>| &nbsp;&nbsp;&nbsp;2982508.4710 | &nbsp;&nbsp;&nbsp;8.44% |
| American Enterprise<br>707 2<sup>nd</sup> Ave South<br>Minneapolis, MN 55402<br>| &nbsp;&nbsp;&nbsp;5061062.9940 | &nbsp;&nbsp;&nbsp;14.32% |
| Charles Schwab & Co<br>ATTN Mutual Funds<br>211 Main Street<br>San Francisco, CA 94105<br>| &nbsp;&nbsp;&nbsp;5473163.2570 | &nbsp;&nbsp;&nbsp;15.49% |

---

As of October 2, 2025, securities of the Fund owned by all officers and Trustees, including beneficial ownership, as a group represented less than 1.00% of the outstanding shares of the Fund's Class I shares.

---

| | |
|:---|:---|
| **EVENTIDE** | **40** |
| **EVENTIDE** | **40** |

---

---

| | |
|:---|:---|
| **S T A T E M E N T O F A D D I T I O N A L I N F O R M A T I O N** | **N o v e m b e r 1, 2 0 2 5** |

---

HEALTHCARE & LIFE SCIENCES FUND

**Class A.** As of October 2, 2025, the following persons owned 5% or more of the outstanding shares of the Fund's Class A shares:

---

| | | |
|:---|:---|:---|
| Name and Address of Owner | Number of Record and Beneficial <br> (Shares) | Percent (%) of Class |
| LPL Financial<br>P.O. Box 509046<br>San Diego, CA 92150-9046<br>| &nbsp;&nbsp;&nbsp;350202.8750 | &nbsp;&nbsp;&nbsp; 12.22% |
| Raymond James<br>880 Carillon Parkway<br>Saint Petersburg, FL 33716<br>| &nbsp;&nbsp;&nbsp;209301.7580 | &nbsp;&nbsp;&nbsp;7.31% |
| American Enterprise<br>707 2<sup>nd</sup> Ave South<br>Minneapolis, MN 55402<br>| &nbsp;&nbsp;&nbsp;409664.5510 | &nbsp;&nbsp;&nbsp;14.30% |
| Merrill Lynch Pierce<br>Fenner & Smith<br>4800 Deer Lake Drive East<br>Jacksonville, FL 32246<br>| &nbsp;&nbsp;&nbsp;158589.6450 | &nbsp;&nbsp;&nbsp;5.54% |
| Charles Schwab & Co <br> ATTN Mutual Funds <br> 211 Main Street <br> San Francisco, CA 94105  | &nbsp;&nbsp;&nbsp;371933.8940 | &nbsp;&nbsp;&nbsp;12.98% |

---

As of October 2, 2025, securities of the Fund owned by all officers and Trustees, including beneficial ownership, as a group represented less than 1.00% of the outstanding shares of the Fund's Class A shares.

**Class C.** As of October 2, 2025, the following persons owned 5% or more of the outstanding shares of the Fund's Class C shares:

---

| | | |
|:---|:---|:---|
| Name and Address of Owner | Number of Record and Beneficial <br> (Shares) | Percent (%) of Class |
| Morgan Stanley<br>1 New York Plaza, 12th Fl <br> New York, NY 10004-1901  | 71649.5220 | 6.04% |
| LPL Financial <br> P.O. Box 509046 <br> San Diego, CA 92150-9046  | 161954.3580 | 13.65% |
| Raymond James <br> 880 Carillon Parkway <br> Saint Petersburg, FL 33716  | &nbsp;&nbsp;&nbsp;221118.1120 | &nbsp;&nbsp;&nbsp;18.64% |
| American Enterprise <br> 707 2<sup>nd</sup> Ave South <br> Minneapolis, MN 55402  | &nbsp;&nbsp;&nbsp;254571.2000 | &nbsp;&nbsp;&nbsp;21.46% |
| Charles Schwab & Co <br> ATTN Mutual Funds <br> 211 Main Street <br> San Francisco, CA 94105  | &nbsp;&nbsp;&nbsp;210246.5920 | &nbsp;&nbsp;&nbsp;17.73% |

---

As of October 2, 2025, securities of the Fund owned by all officers and Trustees, including beneficial ownership, as a group represented less than 1.00% of the outstanding shares of the Fund's Class C shares.

---

| | |
|:---|:---|
| **EVENTIDE** | **41** |
| **EVENTIDE** | **41** |

---

---

| | |
|:---|:---|
| **S T A T E M E N T O F A D D I T I O N A L I N F O R M A T I O N** | **N o v e m b e r 1, 2 0 2 5** |

---

**Class N.** As of October 2, 2025, the following persons owned 5% or more of the outstanding shares of the Fund's Class N shares.

---

| | |
|:---|:---|
| Name and Address of Owner | Number of Record and Beneficial <br> (Shares) |
| Charles Schwab & Co <br> ATTN Mutual Funds<br>211 Main Street <br> San Francisco, CA 94105  | &nbsp;&nbsp;&nbsp;844933.0260&nbsp;&nbsp;&nbsp;52.50%<sup>1</sup> |

---

1. May
 be deemed to control Class N shares of the Fund because holds more than 25% of the outstanding
 Class N shares.

As of October 2, 2025, securities of the Fund owned by all officers and Trustees, including beneficial ownership, as a group represented less than 1.00% of the outstanding shares of the Fund's Class N shares.

The shareholders listed above own shares for investment purposes and have no known intention of exercising any control of the Fund.

**Class I.** As of October 2, 2025, the following persons owned 5% or more of the outstanding shares of the Fund's Class I shares:

---

| | | |
|:---|:---|:---|
| Name and Address of Owner | Number of Record and Beneficial <br> (Shares) | Percent (%) of Class |
| Morgan Stanley <br> 1 New York Plaza, 12th Fl <br> New York, NY 10004-1901<br>| &nbsp;&nbsp;&nbsp;1589799.0320 | &nbsp;&nbsp;&nbsp;5.87% |
| LPL Financial <br> P.O. Box 509046 <br> San Diego, CA 92150-9046<br>| &nbsp;&nbsp;&nbsp;2031816.1060 | &nbsp;&nbsp;&nbsp;7.50% |
| Raymond James <br> 880 Carillon Parkway <br> Saint Petersburg, FL 33716<br>| &nbsp;&nbsp;&nbsp;1772251.2060 | &nbsp;&nbsp;&nbsp;6.54% |
| American Enterprise <br> 707 2<sup>nd</sup> Ave South <br> Minneapolis, MN 55402<br>| &nbsp;&nbsp;&nbsp;2964062.9200 | &nbsp;&nbsp;&nbsp;10.94% |
| Charles Schwab & Co <br> ATTN Mutual Funds <br> 211 Main Street <br> San Francisco, CA 94105<br>| &nbsp;&nbsp;&nbsp;4700795.8450 | &nbsp;&nbsp;&nbsp;17.35% |
| Merrill Lynch Pierce <br> Fenner & Smith <br> 4800 Deer Lake Drive East <br> Jacksonville, FL 32246  | &nbsp;&nbsp;&nbsp;2622259.7370 | &nbsp;&nbsp;&nbsp;9.68% |

---

As of October 2, 2025, securities of the Fund owned by all officers and Trustees, including beneficial ownership, as a group represented less than 1.00% of the outstanding shares of the Fund's Class I shares.

---

| | |
|:---|:---|
| **EVENTIDE** | **42** |
| **EVENTIDE** | **42** |

---

---

| | |
|:---|:---|
| **S T A T E M E N T O F A D D I T I O N A L I N F O R M A T I O N** | **N o v e m b e r 1, 2 0 2 5** |

---

BALANCED fUND

**Class A.** As of October 2, 2025, the following persons owned 5% or more of the outstanding shares of the Fund's Class A shares:

---

| | | |
|:---|:---|:---|
| Name and Address of Owner | Number of Record and Beneficial <br> (Shares) | Percent (%) of Class |
| Edward D Jones & Co <br> 12555 Manchester Rd <br> Saint Louis, MO 63131-3729<br>| &nbsp;&nbsp;&nbsp;729554.8400 | &nbsp;&nbsp;&nbsp;26.90%<sup>1</sup> |
| LPL Financial <br> P.O. Box 509046 <br> San Diego, CA 92150-9046  | &nbsp;&nbsp;&nbsp;243687.3420 | &nbsp;&nbsp;&nbsp;8.99% |
| American Enterprise <br> 707 2<sup>nd</sup> Ave South <br> Minneapolis, MN 55402 | &nbsp;&nbsp;&nbsp;365036.5370 | &nbsp;&nbsp;&nbsp;13.46% |

---

1. May
 be deemed to control Class A shares of the Fund because holds more than 25% of the outstanding
 Class A shares.

As of October 2, 2025, securities of the Fund owned by all officers and Trustees, including beneficial ownership, as a group represented less than 1.00% of the outstanding shares of the Fund's Class A shares.

**Class C.** As of October 2, 2025, the following persons owned 5% or more of the outstanding shares of the Fund's Class C shares:

---

| | | |
|:---|:---|:---|
| Name and Address of Owner | Number of Record and Beneficial <br> (Shares) | Percent (%) of Class |
| LPL Financial <br> P.O. Box 509046 <br> San Diego, CA 92150-9046<br>| &nbsp;&nbsp;&nbsp;201702.1550 | &nbsp;&nbsp;&nbsp;17.85% |
| Raymond James <br> 880 Carillon Pkwy <br> Saint Petersburg, FL 33716<br>| &nbsp;&nbsp;&nbsp; 109914.8040 | &nbsp;&nbsp;&nbsp;9.73% |
| American Enterprise <br> 707 2<sup>nd</sup> Ave South <br> Minneapolis, MN 55402<br>| &nbsp;&nbsp;&nbsp;422722.9490 | &nbsp;&nbsp;&nbsp;37.41%<sup>1</sup> |
| Charles Schwab & Co <br> ATTN Mutual Funds <br> 211 Main Street <br> San Francisco, CA 94105 | &nbsp;&nbsp;&nbsp;105924.6620 | &nbsp;&nbsp;&nbsp;9.37% |

---

1. May
 be deemed to control Class C shares of the Fund because holds more than 25% of the outstanding
 Class C shares.

As of October 2, 2025, securities of the Fund owned by all officers and Trustees, including beneficial ownership, as a group represented less than 1.00% of the outstanding Class C shares of the Fund.

The shareholders listed above own shares for investment purposes and have no known intention of exercising any control of the Fund.

---

| | |
|:---|:---|
| **EVENTIDE** | **43** |
| **EVENTIDE** | **43** |

---

---

| | |
|:---|:---|
| **S T A T E M E N T O F A D D I T I O N A L I N F O R M A T I O N** | **N o v e m b e r 1, 2 0 2 5** |

---

**Class N.** As of October 2, 2025, the following persons owned 5% or more of the outstanding shares of the Fund's Class N shares:

---

| | | |
|:---|:---|:---|
| Name and Address of Owner | Number of Record and Beneficial <br> (Shares) | Percent (%) of Class |
| Charles Schwab & Co <br> ATTN Mutual Funds <br> 211 Main Street <br> San Francisco, CA 94105<br>| &nbsp;&nbsp;&nbsp; 641000.6530 | &nbsp;&nbsp;&nbsp;56.94%<sup>1</sup> |
| Charles Schwab & Co <br> ATTN Mutual Funds <br> 211 Main Street <br> San Francisco, CA 94105 | &nbsp;&nbsp;&nbsp;87431.2510 | &nbsp;&nbsp;&nbsp;7.77% |

---

1. May
 be deemed to control Class N shares of the Fund because holds more than 25% of the outstanding
 Class N shares.

As of October 2, 2025, securities of the Fund owned by all officers and Trustees, including beneficial ownership, as a group represented less than 1.00% of the outstanding shares of the Fund's Class N shares.

The shareholders listed above own shares for investment purposes and have no known intention of exercising any control of the Fund.

**Class I.** As of October 2, 2025, the following persons owned 5% or more of the outstanding shares of the Fund's Class I shares:

---

| | | |
|:---|:---|:---|
| Name and Address of Owner | Number of Record and Beneficial <br> (Shares) | Percent (%) of Class |
| Edward D Jones & Co <br> 12555 Manchester Rd <br> Saint Louis, MO 63131-3729<br>| 2076136.8900 | 9.84% |
| LPL Financial <br> P.O. Box 509046 <br> San Diego, CA 92150-9046<br>| &nbsp;&nbsp;&nbsp;3863416.5120 | &nbsp;&nbsp;&nbsp;18.31% |
| Raymond James <br> 880 Carillon Parkway <br> Saint Petersburg, FL 33716<br>| &nbsp;&nbsp;&nbsp;1446913.9500 | &nbsp;&nbsp;&nbsp;6.86% |
| American Enterprise <br> 707 2<sup>nd</sup> Ave South <br> Minneapolis, MN 55402<br>| &nbsp;&nbsp;&nbsp;2668954.1380 | &nbsp;&nbsp;&nbsp;12.65% |
| Charles Schwab & Co <br> ATTN Mutual Funds <br> 211 Main Street <br> San Francisco, CA 94105 | &nbsp;&nbsp;&nbsp;3573683.8220 | &nbsp;&nbsp;&nbsp;16.94% |

---

As of October 2, 2025, securities of the Fund owned by all officers and Trustees, including beneficial ownership, as a group represented less than 1.00% of the outstanding shares of the Fund's Class I shares.

---

| | |
|:---|:---|
| **EVENTIDE** | **44** |
| **EVENTIDE** | **44** |

---

---

| | |
|:---|:---|
| **S T A T E M E N T O F A D D I T I O N A L I N F O R M A T I O N** | **N o v e m b e r 1, 2 0 2 5** |

---

DIVIDEND GROWTH FUND

**Class A.** As of October 2, 2025, the following persons owned 5% or more of the outstanding shares of the Fund's Class A shares:

---

| | | |
|:---|:---|:---|
| Name and Address of Owner | Number of Record and Beneficial <br> (Shares) | Percent (%) of Class |
| Edward D Jones & Co <br> 12555 Manchester Rd <br> Saint Louis, MO 63131-3729<br>| &nbsp;&nbsp;&nbsp;243223.7810 | &nbsp;&nbsp;&nbsp;7.21% |
| LPL Financial <br> P.O. Box 509046 <br> San Diego, CA 92150-9046<br>| &nbsp;&nbsp;&nbsp;898895.0010 | &nbsp;&nbsp;&nbsp;26.65%<sup>1</sup> |
| Raymond James <br> 880 Carillon Parkway <br> Saint Petersburg, FL 33716<br>| &nbsp;&nbsp;&nbsp;468456.2600 | &nbsp;&nbsp;&nbsp;13.89% |
| American Enterprise <br> 707 2<sup>nd</sup> Ave South <br> Minneapolis, MN 55402 | &nbsp;&nbsp;&nbsp;440537.7830 | &nbsp;&nbsp;&nbsp;13.06% |

---

1. May
 be deemed to control Class A shares of the Fund because holds more than 25% of the outstanding
 Class A shares.

As of October 2, 2025, securities of the Fund owned by all officers and Trustees, including beneficial ownership, as a group represented less than 1.00% of the outstanding shares of the Fund's Class A shares.

The shareholders listed above own shares for investment purposes and have no known intention of exercising any control of the Fund.

---

| | |
|:---|:---|
| **EVENTIDE** | **45** |
| **EVENTIDE** | **45** |

---

---

| | |
|:---|:---|
| **S T A T E M E N T O F A D D I T I O N A L I N F O R M A T I O N** | **N o v e m b e r 1, 2 0 2 5** |

---

**Class C.** As of October 2, 2025, the following persons owned 5% or more of the outstanding shares of the Fund's Class C shares:

---

| | | |
|:---|:---|:---|
| Name and Address of Owner | Number of Record and Beneficial <br> (Shares) | Percent (%) of Class |
| LPL Financial <br> P.O. Box 509046 <br> San Diego, CA 92150-9046<br>| 151715.0500 | 10.76% |
| Raymond James <br> 880 Carillon Parkway <br> Saint Petersburg, FL 33716<br>| 261087.8950 | 18.51% |
| American Enterprise <br> 707 2<sup>nd</sup> Ave South <br> Minneapolis, MN 55402<br>| &nbsp;&nbsp;&nbsp;398241.0540 | &nbsp;&nbsp;&nbsp;28.24% |
| Charles Schwab & Co <br> ATTN Mutual Funds <br> 211 Main Street <br> San Francisco, CA 94105 | &nbsp;&nbsp;&nbsp;261869.2370 | &nbsp;&nbsp;&nbsp;18.57% |

---

As of October 2, 2025, securities of the Fund owned by all officers and Trustees, including beneficial ownership, as a group represented less than 1.00% of the outstanding Class C shares of the Fund.

**Class N.** As of October 2, 2025, the following persons owned 5% or more of the outstanding shares of the Fund's Class N shares:

---

| | |
|:---|:---|
| Name and Address of Owner | Number of Record and Beneficial <br> (Shares) |
| Charles Schwab & Co <br> ATTN Mutual Funds <br> 211 Main Street <br> San Francisco, CA 94105 | &nbsp;&nbsp;&nbsp;3150207.7670&nbsp;&nbsp;&nbsp;80.38%<sup>1</sup> |

---

1. May
 be deemed to control Class N shares of the Fund because holds more than 25% of the outstanding
 Class N shares.

As of October 2, 2025, securities of the Fund owned by all officers and Trustees, including beneficial ownership, as a group represented less than 1.00% of the outstanding shares of the Fund's Class N shares.

The shareholders listed above own shares for investment purposes and have no known intention of exercising any control of the Fund.

---

| | |
|:---|:---|
| **EVENTIDE** | **46** |
| **EVENTIDE** | **46** |

---

---

| | |
|:---|:---|
| **S T A T E M E N T O F A D D I T I O N A L I N F O R M A T I O N** | **N o v e m b e r 1, 2 0 2 5** |

---

**Class I.** As of October 2, 2025, the following persons owned 5% or more of the outstanding shares of the Fund's Class I shares:

---

| | | |
|:---|:---|:---|
| Name and Address of Owner | Number of Record and Beneficial <br> (Shares) | Percent (%) of Class |
| Edward D Jones & Co <br> 12555 Manchester Rd <br> Saint Louis, MO 63131-3729<br>| &nbsp;&nbsp;&nbsp;3163486.7240 | &nbsp;&nbsp;&nbsp;6.07% |
| LPL Financial <br> P.O. Box 509046 <br> San Diego, CA 92150-9046<br>| &nbsp;&nbsp;&nbsp;7275898.9970 | &nbsp;&nbsp;&nbsp;13.95% |
| Raymond James <br> 880 Carillon Parkway <br> Saint Petersburg, FL 33716<br>| &nbsp;&nbsp;&nbsp;3453166.1770 | &nbsp;&nbsp;&nbsp;6.62% |
| American Enterprise <br> 707 2nd Ave South <br> Minneapolis, MN 55402<br>| &nbsp;&nbsp;&nbsp;13744626.0450 | &nbsp;&nbsp;&nbsp;26.35%<sup>1</sup> |
| Charles Schwab & Co <br> ATTN Mutual Funds <br> 211 Main Street <br> San Francisco, CA 94105<br>| &nbsp;&nbsp;&nbsp;7713620.4380 | &nbsp;&nbsp;&nbsp;14.79% |
| Charles Schwab & Co <br> ATTN Mutual Funds <br> 211 Main Street <br> San Francisco, CA 94105 | &nbsp;&nbsp;&nbsp;3011165.5760 | &nbsp;&nbsp;&nbsp;5.77% |

---

1. May
 be deemed to control Class I shares of the Fund because holds more than 25% of the outstanding
 Class I shares.

As of October 2, 2025, securities of the Fund owned by all officers and Trustees, including beneficial ownership, as a group represented less than 1.00% of the outstanding shares of the Fund's Class I shares.

The shareholders listed above own shares for investment purposes and have no known intention of exercising any control of the Fund.

LIMITED-TERM BOND FUND

**Class A.** As of October 2, 2025, the following persons owned 5% or more of the outstanding shares of the Fund's Class A shares:

---

| | | |
|:---|:---|:---|
| Name and Address of Owner | Number of Record and Beneficial <br> (Shares) | Percent (%) of Class |
| American Enterprise <br> 707 2<sup>nd</sup> Ave South <br> Minneapolis, MN 55402<br>| 82004.2490 | 18.01% |
| Charles Schwab & Co <br> ATTN Mutual Funds <br> 211 Main Street <br> San Francisco, CA 94105<br>| &nbsp;&nbsp;&nbsp;26969.3860 | &nbsp;&nbsp;&nbsp;5.92% |
| Charles Schwab & Co <br> ATTN Mutual Funds <br> 211 Main Street <br> San Francisco, CA 94105 | &nbsp;&nbsp;&nbsp;59289.8760 | &nbsp;&nbsp;&nbsp;13.02% |

---

As of October 2, 2025, securities of the Fund owned by all officers and Trustees, including beneficial ownership, as a group represented less than 1.00% of the outstanding shares of the Fund's Class A shares.

---

| | |
|:---|:---|
| **EVENTIDE** | **47** |
| **EVENTIDE** | **47** |

---

---

| | |
|:---|:---|
| **S T A T E M E N T O F A D D I T I O N A L I N F O R M A T I O N** | **N o v e m b e r 1, 2 0 2 5** |

---

**Class C.** As of October 2, 2025, the following persons owned 5% or more of the outstanding shares of the Fund's Class C shares:

---

| | | |
|:---|:---|:---|
| Name and Address of Owner | Number of Record and Beneficial <br> (Shares) | Percent (%) of Class |
| LPL Financial <br> P.O. Box 509046 <br> San Diego, CA 92150-9046<br>| 20406.2300 | 12.84% |
| American Enterprise <br> 707 2<sup>nd</sup> Ave South <br> Minneapolis, MN 55402<br>| &nbsp;&nbsp;&nbsp;60379.6670 | &nbsp;&nbsp;&nbsp;37.99%<sup>1</sup> |
| Charles Schwab & Co <br> ATTN Mutual Funds <br> 211 Main Street <br> San Francisco, CA 94105<br>| &nbsp;&nbsp;&nbsp;11025.8980 | &nbsp;&nbsp;&nbsp;6.94% |
| Crawley Family Living Trust <br> 3185 S Debbie Street <br> Flagstaff, AZ 86005 | &nbsp;&nbsp;&nbsp;12779.1160 | &nbsp;&nbsp;&nbsp;8.04% |

---

1. May
 be deemed to control Class C shares of the Fund because holds more than 25% of the outstanding
 Class C shares.

As of October 2, 2025, securities of the Fund owned by all officers and Trustees, including beneficial ownership, as a group represented less than 1.00% of the outstanding Class C shares of the Fund.

The shareholders listed above own shares for investment purposes and have no known intention of exercising any control of the Fund.

**Class N.** As of October 2, 2025, the following persons owned 5% or more of the outstanding shares of the Fund's Class N shares:

---

| | |
|:---|:---|
| Name and Address of Owner | Number of Record and Beneficial <br> (Shares) |
| Charles Schwab & Co <br> ATTN Mutual Funds <br> 211 Main Street <br> San Francisco, CA 94105 | &nbsp;&nbsp;&nbsp;1730163.3710&nbsp;&nbsp;&nbsp;98.59%<sup>1</sup> |

---

1. May
 be deemed to control Class N shares of the Fund because holds more than 25% of the outstanding
 Class N shares.

As of October 2, 2025, securities of the Fund owned by all officers and Trustees, including beneficial ownership, as a group represented less than 1.00% of the outstanding shares of the Fund's Class N shares.

The shareholders listed above own shares for investment purposes and have no known intention of exercising any control of the Fund.

---

| | |
|:---|:---|
| **EVENTIDE** | **48** |
| **EVENTIDE** | **48** |

---

---

| | |
|:---|:---|
| **S T A T E M E N T O F A D D I T I O N A L I N F O R M A T I O N** | **N o v e m b e r 1, 2 0 2 5** |

---

**Class I.** As of October 2, 2025, the following persons owned 5% or more of the outstanding shares of the Fund's Class I shares:

---

| | | |
|:---|:---|:---|
| Name and Address of Owner | Number of Record and Beneficial <br> (Shares) | Percent (%) of Class |
| LPL Financial <br> P.O. Box 509046 <br> San Diego, CA 92150-9046<br>| &nbsp;&nbsp;&nbsp;2731079.4350 | &nbsp;&nbsp;&nbsp;18.52% |
| American Enterprise <br> 707 2<sup>nd</sup> Ave South <br> Minneapolis, MN 55402<br>| &nbsp;&nbsp;&nbsp;5532823.6110 | &nbsp;&nbsp;&nbsp;37.52%<sup>1</sup> |
| Charles Schwab & Co <br> ATTN Mutual Funds <br> 211 Main Street <br> San Francisco, CA 94105 | &nbsp;&nbsp;&nbsp;2717086.7540 | &nbsp;&nbsp;&nbsp;18.43% |

---

1. May
 be deemed to control Class I shares of the Fund because holds more than 25% of the outstanding
 Class I shares.

As of October 2, 2025, securities of the Fund owned by all officers and Trustees, including beneficial ownership, as a group represented less than 1.00% of the outstanding shares of the Fund's Class I shares.

The shareholders listed above own shares for investment purposes and have no known intention of exercising any control of the Fund.

EXPONENTIAL TECHNOLOGIES FUND

**Class A.** As of October 2, 2025, the following persons owned 5% or more of the outstanding shares of the Fund's Class A shares:

---

| | | |
|:---|:---|:---|
| Name and Address of Owner | Number of Record and Beneficial <br> (Shares) | Percent (%) of Class |
| LPL Financial <br> P.O. Box 509046 <br> San Diego, CA 92150-9046<br>| 59897.9730 | 10.07% |
| Wells Fargo <br> 2801 Market Street <br> Saint Louis, MO 63103<br>| 30854.1090 | 5.19% |
| American Enterprise <br> 707 2<sup>nd</sup> Ave South <br> Minneapolis, MN 55402 | &nbsp;&nbsp;&nbsp;69195.5380 | &nbsp;&nbsp;&nbsp;11.64% |

---

As of October 2, 2025, securities of the Fund owned by all officers and Trustees, including beneficial ownership, as a group represented 1.31% of the outstanding shares of the Fund's Class A shares.

---

| | |
|:---|:---|
| **EVENTIDE** | **49** |
| **EVENTIDE** | **49** |

---

---

| | |
|:---|:---|
| **S T A T E M E N T O F A D D I T I O N A L I N F O R M A T I O N** | **N o v e m b e r 1, 2 0 2 5** |

---

**Class C.** As of October 2, 2025, the following persons owned 5% or more of the outstanding shares of the Fund's Class C shares:

---

| | | |
|:---|:---|:---|
| Name and Address of Owner | Number of Record and Beneficial <br> (Shares) | Percent (%) of Class |
| LPL Financial <br> P.O. Box 509046 <br> San Diego, CA 92150-9046<br>| &nbsp;&nbsp;&nbsp;51661.9800 | &nbsp;&nbsp;&nbsp;33.45%<sup>1</sup> |
| Raymond James <br> 880 Carillon Parkway <br> Saint Petersburg, FL 33716<br>| &nbsp;&nbsp;&nbsp;16505.7070 | &nbsp;&nbsp;&nbsp;10.69% |
| American Enterprise <br> 707 2<sup>nd</sup> Ave South <br> Minneapolis, MN 55402<br>| &nbsp;&nbsp;&nbsp;34400.3970 | &nbsp;&nbsp;&nbsp;22.27% |
| Charles Schwab & Co <br> ATTN Mutual Funds <br> 211 Main Street <br> San Francisco, CA 94105 | &nbsp;&nbsp;&nbsp;13942.2870 | &nbsp;&nbsp;&nbsp;9.03% |

---

1. May
 be deemed to control Class C shares of the Fund because holds more than 25% of the outstanding
 Class C shares.

As of October 2, 2025, securities of the Fund owned by all officers and Trustees, including beneficial ownership, as a group represented less than 1.00% of the outstanding Class C shares of the Fund.

The shareholders listed above own shares for investment purposes and have no known intention of exercising any control of the Fund.

**Class I.** As of October 2, 2025 the following persons owned 5% or more of the outstanding shares of the Fund's Class I shares:

---

| | | |
|:---|:---|:---|
| Name and Address of Owner | Number of Record and Beneficial <br> (Shares) | Percent (%) of Class |
| LPL Financial <br> P.O. Box 509046 <br> San Diego, CA 92150-9046<br>| 742030.5270 | 16.41% |
| American Enterprise <br> 707 2<sup>nd</sup> Ave South <br> Minneapolis, MN 55402  | &nbsp;&nbsp;&nbsp;1228077.5010 | &nbsp;&nbsp;&nbsp;27.16%<sup>1</sup> |
| Charles Schwab & Co <br> ATTN Mutual Funds <br> 211 Main Street <br> San Francisco, CA 94105<br>| &nbsp;&nbsp;&nbsp;1160655.8260 | &nbsp;&nbsp;&nbsp;25.67%<sup>1</sup> |
| Charles Schwab & Co <br> ATTN Mutual Funds <br> 211 Main Street <br> San Francisco, CA 94105 | &nbsp;&nbsp;&nbsp;309258.7360 | &nbsp;&nbsp;&nbsp;6.84% |

---

1. May
 be deemed to control Class I shares of the Fund because holds more than 25% of the outstanding
 Class I shares.

As of October 2, 2025, securities of the Fund owned by all officers and Trustees, including beneficial ownership, as a group represented less than 1.00% of the outstanding shares of the Fund's Class I shares.

---

| | |
|:---|:---|
| **EVENTIDE** | **50** |
| **EVENTIDE** | **50** |

---

---

| | |
|:---|:---|
| **S T A T E M E N T O F A D D I T I O N A L I N F O R M A T I O N** | **N o v e m b e r 1, 2 0 2 5** |

---

The shareholders listed above own shares for investment purposes and have no known intention of exercising any control of the Fund.

**Class N.** As of October 2, 2025, the following persons owned 5% or more of the outstanding shares of the Fund's Class N shares:

---

| | |
|:---|:---|
| Name and Address of Owner | Number of Record and Beneficial <br> (Shares) |
| Charles Schwab & Co <br> ATTN Mutual Funds <br> 211 Main Street <br> San Francisco, CA 94105 | &nbsp;&nbsp;&nbsp;1006104.6720&nbsp;&nbsp;&nbsp;90.80%<sup>1</sup> |

---

1. May
 be deemed to control Class N shares of the Fund because holds more than 25% of the outstanding
 Class N shares.

As of October 2, 2025, securities of the Fund owned by all officers and Trustees, including beneficial ownership, as a group represented less than 1.00% of the outstanding shares of the Fund's Class N shares.

The shareholders listed above own shares for investment purposes and have no known intention of exercising any control of the Fund.

CORE BOND FUND

**Class A.** As of October 2, 2025, the following persons owned 5% or more of the outstanding shares of the Fund's Class A shares:

---

| | | |
|:---|:---|:---|
| Name and Address of Owner | Number of Record and Beneficial <br> (Shares) | Percent (%) of Class |
| Edward D Jones & Co <br> 12555 Manchester Rd <br> Saint Louis, MO 63131-3729<br>| 52911.0130 | 31.36%<sup>1</sup> |
| LPL Financial <br> P.O. Box 509046 <br> San Diego, CA 92150-9046 | 12891.0880 | 7.64% |
| Constellation Trust Co <br> 12574 Deer Ridge TRL <br> Nampa, ID 83686<br>| 14947.1260 | 8.86% |
| Constellation Trust Co <br> P.O. Box 1386 <br> San Juan Bautista, CA 95045 | &nbsp;&nbsp;&nbsp;25391.2690 | &nbsp;&nbsp;&nbsp;15.05% |

---

1. May
 be deemed to control Class A shares of the Fund because holds more than 25% of the outstanding
 Class A shares.

As of October 2, 2025, securities of the Fund owned by all officers and Trustees, including beneficial ownership, as a group represented less than 1.00% of the outstanding shares of the Fund's Class A shares.

The shareholders listed above own shares for investment purposes and have no known intention of exercising any control of the Fund.

---

| | |
|:---|:---|
| **EVENTIDE** | **51** |
| **EVENTIDE** | **51** |

---

---

| | |
|:---|:---|
| **S T A T E M E N T O F A D D I T I O N A L I N F O R M A T I O N** | **N o v e m b e r 1, 2 0 2 5** |

---

**Class C.** As of October 2, 2025, the following persons owned 5% or more of the outstanding shares of the Fund's Class C shares:

---

| | | |
|:---|:---|:---|
| Name and Address of Owner | Number of Record and Beneficial <br> (Shares) | Percent (%) of Class |
| Pershing LLC <br> PO Box 2052 <br> Jersey City, NJ 07303-9998<br>| &nbsp;&nbsp;&nbsp;3914.6930 | &nbsp;&nbsp;&nbsp;5.51% |
| Pershing LLC <br> PO Box 2052 <br> Jersey City, NJ 07303-9998<br>| &nbsp;&nbsp;&nbsp;5400.4170 | &nbsp;&nbsp;&nbsp;7.60% |
| Pershing LLC <br> PO Box 2052 <br> Jersey City, NJ 07303-9998 | &nbsp;&nbsp;&nbsp;5731.2260 | &nbsp;&nbsp;&nbsp;8.07% |

---

As of October 2, 2025, securities of the Fund owned by all officers and Trustees, including beneficial ownership, as a group represented less than 1.00% of the outstanding Class C shares of the Fund.

**Class I.** As of October 2, 2025, the following persons owned 5% or more of the outstanding shares of the Fund's Class I shares:

---

| | | |
|:---|:---|:---|
| Name and Address of Owner | Number of Record and Beneficial <br> (Shares) | Percent (%) of Class |
| LPL Financial <br> P.O. Box 509046 <br> San Diego, CA 92150-9046<br>| &nbsp;&nbsp;&nbsp;1311109.1790 | &nbsp;&nbsp;&nbsp;9.92% |
| National Financial Services LLC <br> 499 Washington Blvd <br> Jersey City, NJ 07310<br>| &nbsp;&nbsp;&nbsp;3681251.4220 | &nbsp;&nbsp;&nbsp;27.87%<sup>1</sup> |
| Charles Schwab & Co <br> ATTN Mutual Funds <br> 211 Main Street <br> San Francisco, CA 94105 | &nbsp;&nbsp;&nbsp;2864647.7690 | &nbsp;&nbsp;&nbsp;21.68% |

---

1. May
 be deemed to control Class I shares of the Fund because holds more than 25% of the outstanding
 Class I shares.

As of October 2, 2025, securities of the Fund owned by all officers and Trustees, including beneficial ownership, as a group represented less than 1.00% of the outstanding shares of the Fund's Class I shares.

The shareholders listed above own shares for investment purposes and have no known intention of exercising any control of the Fund.

**Class N.** As of October 2, 2025, the following persons owned 5% or more of the outstanding shares of the Fund's Class N shares:

---

| | |
|:---|:---|
| Name and Address of Owner | Number of Record and Beneficial <br> (Shares) |
| Charles Schwab & Co <br> ATTN Mutual Funds <br> 211 Main Street <br> San Francisco, CA 94105 | &nbsp;&nbsp;&nbsp;4564898.9620&nbsp;&nbsp;&nbsp;98.60%<sup>1</sup> |

---

1. May
 be deemed to control Class N shares of the Fund because holds more than 25% of the outstanding
 Class N shares.

---

| | |
|:---|:---|
| **EVENTIDE** | **52** |
| **EVENTIDE** | **52** |

---

---

| | |
|:---|:---|
| **S T A T E M E N T O F A D D I T I O N A L I N F O R M A T I O N** | **N o v e m b e r 1, 2 0 2 5** |

---

As of October 2, 2025, securities of the Fund owned by all officers and Trustees, including beneficial ownership, as a group represented less than 1.00% of the outstanding shares of the Fund's Class N shares.

The shareholders listed above own shares for investment purposes and have no known intention of exercising any control of the Fund.

Large Cap Focus FUND

**Class A.** As of October 2, 2025, the following persons owned 5% or more of the outstanding shares of the Fund's Class A shares:

---

| | | |
|:---|:---|:---|
| Name and Address of Owner | Number of Record and Beneficial <br> (Shares) | Percent (%) of Class |
| Edward D Jones & Co <br> 12555 Manchester Rd <br> Saint Louis, MO 63131-3729<br>| 104867.0570 | 24.49% |
| American Enterprise <br> 707 2nd Ave South <br> Minneapolis, MN 55402 | 114412.9160 | 26.72%<sup>1</sup> |

---

1. May
 be deemed to control Class N shares of the Fund because holds more than 25% of the outstanding
 Class A shares.

As of October 2, 2025, securities of the Fund owned by all officers and Trustees, including beneficial ownership, as a group represented less than 1.00% of the outstanding shares of the Fund's Class A shares.

**Class C.** As of October 2, 2025, the following persons owned 5% or more of the outstanding shares of the Fund's Class C shares:

---

| | | |
|:---|:---|:---|
| Name and Address of Owner | Number of Record and Beneficial <br> (Shares) | Percent (%) of Class |
| LPL Financial <br> P.O. Box 509046 <br> San Diego, CA 92150-9046<br>| 11882.7140 | 13.05% |
| Raymond James <br> 880 Carillon Pkwy <br> Saint Petersburg, FL 33716<br>| &nbsp;&nbsp;&nbsp;8102.7900 | &nbsp;&nbsp;&nbsp;8.90% |
| American Enterprise <br> 707 2nd Ave South <br> Minneapolis, MN 55402 | &nbsp;&nbsp;&nbsp;47733.3010 | &nbsp;&nbsp;&nbsp;52.42%<sup>1</sup> |

---

1. May
 be deemed to control Class C shares of the Fund because holds more than 25% of the outstanding
 Class C shares.

As of October 2, 2025, securities of the Fund owned by all officers and Trustees, including beneficial ownership, as a group represented less than 1.00% of the outstanding Class C shares of the Fund.

The shareholders listed above own shares for investment purposes and have no known intention of exercising any control of the Fund.

---

| | |
|:---|:---|
| **EVENTIDE** | **53** |
| **EVENTIDE** | **53** |

---

---

| | |
|:---|:---|
| **S T A T E M E N T O F A D D I T I O N A L I N F O R M A T I O N** | **N o v e m b e r 1, 2 0 2 5** |

---

**Class I.** As of October 2, 2025, the following persons owned 5% or more of the outstanding shares of the Fund's Class I shares:

---

| | | |
|:---|:---|:---|
| Name and Address of Owner | Number of Record and Beneficial <br> (Shares) | Percent (%) of Class |
| LPL Financial <br> P.O. Box 509046 <br> San Diego, CA 92150-9046<br>| 2584778.6950 | 25.70%<sup>1</sup> |
| American Enterprise <br> 707 2nd Ave South <br> Minneapolis, MN 55402 | &nbsp;&nbsp;&nbsp;1900701.6610 | &nbsp;&nbsp;&nbsp;18.90% |
| Charles Schwab & Co <br> ATTN Mutual Funds <br> 211 Main Street <br> San Francisco, CA 94105<br>| &nbsp;&nbsp;&nbsp;1761668.9720 | &nbsp;&nbsp;&nbsp;17.52% |
| Charles Schwab & Co <br> ATTN Mutual Funds <br> 211 Main Street <br> San Francisco, CA 94105 | &nbsp;&nbsp;&nbsp;730654.2330 | &nbsp;&nbsp;&nbsp;7.27% |

---

1. May
 be deemed to control Class C shares of the Fund because holds more than 25% of the outstanding
 Class I shares.

As of October 2, 2025, securities of the Fund owned by all officers and Trustees, including beneficial ownership, as a group represented less than 1.00% of the outstanding shares of the Fund's Class I shares.

**Class N.** As of October 2, 2025, the following persons owned 5% or more of the outstanding shares of the Fund's Class N shares:

---

| | | |
|:---|:---|:---|
| Name and Address of Owner | Number of Record and Beneficial <br> (Shares) | Percent (%) of Class |
| Charles Schwab & Co <br> ATTN Mutual Funds <br> 211 Main Street <br> San Francisco, CA 94105<br>| &nbsp;&nbsp;&nbsp;446385.9380 | &nbsp;&nbsp;&nbsp;71.54%<sup>1</sup> |
| Charles Schwab & Co <br> ATTN Mutual Funds <br> 211 Main Street <br> San Francisco, CA 94105 | &nbsp;&nbsp;&nbsp;61506.1620 | &nbsp;&nbsp;&nbsp;9.86% |

---

1. May
 be deemed to control Class N shares of the Fund because holds more than 25% of the outstanding
 Class N shares.

As of October 2, 2025, securities of the Fund owned by all officers and Trustees, including beneficial ownership, as a group represented less than 1.00% of the outstanding shares of the Fund's Class N shares.

The shareholders listed above own shares for investment purposes and have no known intention of exercising any control of the Fund.

---

| | |
|:---|:---|
| **EVENTIDE** | **54** |
| **EVENTIDE** | **54** |

---

---

| | |
|:---|:---|
| **S T A T E M E N T O F A D D I T I O N A L I N F O R M A T I O N** | **N o v e m b e r 1, 2 0 2 5** |

---

Adviser and Sub-Adviser

Eventide Asset Management, LLC, a Delaware limited liability company located at One International Place, Suite 4210, Boston, MA 02110, serves as Adviser to the Funds. The Adviser was formed in April of 2008 and registered as an investment adviser with the SEC in June of 2008. The Adviser provides a range of investment advisory services, including management of the Funds. Under the terms of an investment advisory agreement (the "Advisory Agreement"), the Adviser is responsible for formulating the Funds' investment policies, making ongoing investment decisions and directing portfolio transactions. The Adviser is controlled by Dr. Finny Kuruvilla, Co-Chief Investment Officer of the Adviser, and Robin John, Chief Executive Officer of the Adviser.

The Advisory Agreement provides that the Adviser will provide the Funds with investment advice and supervision and will continuously furnish an investment program for a Fund consistent with the investment objectives and policies of the Fund. The Adviser is responsible for the payment of the salaries and expenses of all of its personnel, office rent and the expenses of providing investment advisory and related clerical expenses.

Under the terms of the Advisory Agreement, the Adviser directs the investment of the assets of each Fund in conformity with the investment objectives and policies of the Fund. It is the responsibility of the Adviser to make investment decisions for each Fund and to provide continuous supervision of the investment portfolios of the Fund.

For its services under the Advisory Agreement, each Fund pays the Adviser a monthly advisory fee based on its average daily net assets at the annual rates set forth below:

---

| | |
|:---|:---|
| Fund | Contractual Advisory Fee |
| Gilead Fund | 1.00% on the first $2 billion;<br> 0.95% on the next $1 billion;<br> 0.90% on the next $1 billion; and<br> 0.85% thereafter |
| Healthcare & Life Sciences Fund | 1.10% |
| Balanced Fund | 0.60% |
| Dividend Growth Fund | 0.73% |
| Limited-Term Bond Fund | 0.31% |
| Exponential Technologies Fund<sup>1</sup> | 0.95% |
| Core Bond Fund | 0.34% |
| Large Cap Focus Fund | 0.73% |

---

*1.* *Effective September 1, 2025, the contractual advisory fee of the Exponential Technologies Fund changed from 1.10% to 0.95%.* 

The Adviser pays expenses incurred by it in connection with acting as adviser, other than costs (including taxes and brokerage commissions, borrowing costs, costs of investing in underlying funds and extraordinary expenses, if any) of securities purchased for each Fund and other expenses paid by each Fund as detailed in the Advisory Agreement. The Adviser pays for all employees, office space and facilities required by it to provide services under the Advisory Agreement, except for specific items of expense referred to below.

Except for the expenses described above that have been assumed by the Adviser, all expenses incurred in administration of a Fund will be charged to the Fund, including investment advisory fees; fees and expenses of the Board; interest charges; taxes; brokerage commissions; expenses of valuing assets; expenses of continuing registration and qualification of a Fund and the shares under federal and state law; share issuance expenses; fees

---

| | |
|:---|:---|
| **EVENTIDE** | **55** |
| **EVENTIDE** | **55** |

---

---

| | |
|:---|:---|
| **S T A T E M E N T O F A D D I T I O N A L I N F O R M A T I O N** | **N o v e m b e r 1, 2 0 2 5** |

---

and disbursements of independent accountants and legal counsel; fees and expenses of custodians, including sub-custodians and securities depositories, transfer agents and shareholder account servicing organizations; expenses of preparing, printing and mailing prospectuses, reports, proxies, notices and statements sent to shareholders; expenses of shareholder meetings; costs of investing in underlying funds; and insurance premiums. The Funds are also liable for nonrecurring expenses, including litigation to which it may from time to time be a party. Expenses incurred for the operation of a Fund, including the expenses of communications with its shareholders, are paid by the Fund.

The Adviser has contractually agreed to waive fees and/or reimburse expenses but only to the extent necessary to maintain the Fund's total annual operating expenses (excluding front-end or contingent deferred loads, any Rule 12b-1 fees, taxes, leverage interest, brokerage commissions, expenses incurred in connection with any merger or reorganization, dividend expense on securities sold short, underlying fund fees and expenses or extraordinary expenses such as litigation) at the amounts listed in the table below:

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
|  | *Expense Limitation* | *Expense Limitation* | | *Expense Limitation* | *Expense Limitation* |
| Gilead Fund | Class A: | 1.67% | Limited-Term Bond Fund<sup>1</sup> | Class A: | 0.70% |
|  | Class C: | 2.42% |  | Class C: | 1.45% |
|  | Class N: | 1.62% |  | Class N: | 0.65% |
|  | Class I: | 1.42% |  | Class I: | 0.45% |
| Healthcare & Life Sciences Fund | Class A: | 1.68% | Exponential Technologies Fund<sup>1</sup> | Class A: | 1.60% |
|  | Class C: | 2.43% |  | Class C: | 2.35% |
|  | Class N: | 1.63% |  | Class N: | 1.55% |
|  | Class I: | 1.43% |  | Class I: | 1.35% |
| Balanced Fund | Class A: | 1.07% | Core Bond Fund<sup>1</sup> | Class A: | 0.73% |
|  | Class C: | 1.82% |  | Class C: | 1.48% |
|  | Class N: | 1.02% |  | Class N: | 0.68% |
|  | Class I: | 0.82% |  | Class I: | 0.48% |
| Dividend Growth Fund | Class A: | 1.20% | Large Cap Focus Fund | Class A: | 1.19% |
|  | Class C: | 1.95% |  | Class C: | 1.94% |
|  | Class N: | 1.15% |  | Class N: | 1.14% |
|  | Class I: | 0.95% |  | Class I: | 0.94% |

---

*1.* *Effective September 1, 2025, the expense limitations of the Limited-Term Bond Fund, Exponential Technologies Fund, and Core Bond Fund changed.* 

The Adviser's contractual agreement runs through October 31, 2026. This agreement may be terminated by the Board only on 60 days' written notice to the Adviser and upon the termination of the Advisory Agreement between the Trust and the Adviser. Fee waivers and expense reimbursements are subject to possible recoupment by the Adviser from the Fund in future years on a rolling three-year basis (within the three years after the fees have been waived or reimbursed) if such recoupment can be achieved within the lesser of the expense limitation in place at the time of waiver/reimbursement and the expense limitation in place at the time of recapture.

The Advisory Agreement was effective for an initial two-year term and continues in effect for successive twelve-month periods thereafter, as long as its continuation is approved by the Board, including a majority of the Trustees who are not "interested persons," or by the shareholders of the Fund. The Advisory Agreement may be terminated at any time upon 60 days' written notice by the Fund or by a majority vote of the outstanding shares or 90 days' written notice by the Adviser and will terminate automatically upon assignment. A discussion of the matters considered by the Board in connection with the renewal of the Advisory Agreement for the Funds can be found in the Financial Statements for the fiscal year ended June 30, 2025.

---

| | |
|:---|:---|
| **EVENTIDE** | **56** |
| **EVENTIDE** | **56** |

---

---

| | |
|:---|:---|
| **S T A T E M E N T O F A D D I T I O N A L I N F O R M A T I O N** | **N o v e m b e r 1, 2 0 2 5** |

---

The Advisory Agreement provides that the Adviser shall not be liable for any error of judgment or mistake of law or for any loss suffered by the Trust in connection with the performance of its duties, except a loss resulting from a breach of fiduciary duty with respect to the receipt of compensation for services or a loss resulting from willful misfeasance, bad faith, or gross negligence on the part of the Adviser in the performance of its duties, or from reckless disregard of its duties and obligations thereunder.

The table below provides information about the advisory fees paid to the Adviser of the Fund for each of the last three fiscal years ended June 30:

---

| | | | |
|:---|:---|:---|:---|
| Fund | 2023 | 2024 | 2025 |
| Gilead Fund |  |  |  |
| Gross Advisory Fee | $34478771 | $35349592 | $29160455 |
| Amounts Waived/Expenses Reimbursed |  |  |  |
| Previously Waived Amounts Recaptured |  |  |  |
| Net Advisory Fee | $34478771 | $35349592 | $29160455 |
| Healthcare & Life Sciences Fund<br>|  |  |  |
| Gross Advisory Fee | $17709516 | $17506668 | $14591841 |
| Amounts Waived/Expenses Reimbursed |  |  |  |
| Previously Waived Amounts Recaptured |  |  |  |
| Net Advisory Fee | $17709516 | $17506668 | $14591841 |
| Balanced Fund |  |  |  |
| Gross Advisory Fee | $2107840 | $2076679 | $2330394 |
| Amounts Waived/Expenses Reimbursed | $(276044) | $(236729) |  |
| Previously Waived Amounts Recaptured |  |  |  |
| Net Advisory Fee | $1831796 | $1839950 | $2330394 |
| Dividend Growth Fund<br>|  |  |  |
| Gross Advisory Fee | $3688377 | $4974202 | $7598747 |
| Amounts Waived/Expenses Reimbursed | $(391061) | $(97498) |  |
| Previously Waived Amounts Recaptured |  |  | $141466 |
| Net Advisory Fee | $3297316 | $4876704 | $7740213 |
| Limited-Term Bond Fund<br>|  |  |  |
| Gross Advisory Fee | $514006 | $422673 | $479962 |
| Amounts Waived/Expenses Reimbursed | $(243710) | $(202441) | $(76975) |
| Previously Waived Amounts Recaptured |  |  |  |
| Net Advisory Fee | $270296 | $220232 | $402987 |
| Exponential Technologies Fund<br>|  |  |  |
| Gross Advisory Fee | $1085748 | $1314480 | $1179143 |
| Amounts Waived/Expenses Reimbursed | $(69721) | $(68862) | $(112235) |
| Previously Waived Amounts Recaptured |  |  |  |
| Net Advisory Fee | $1016027 | $1245618 | 1066908 |
| Core Bond Fund<br>|  |  |  |
| Gross Advisory Fee | $239959 | $357352 | $504777 |
| Amounts Waived/Expenses Reimbursed | $(164775) | $(131361) | $(143748) |
| Previously Waived Amounts Recaptured |  |  |  |
| Net Advisory Fee | $75184 | $225991 | $361029 |
| Large Cap Focus Fund |  |  |  |
| Gross Advisory Fee | $46365 | $319467 | $1097776 |
| Amounts Waived/Expenses Reimbursed | $(107732) | $(101331) | $(280014) |
| Previously Waived Amounts Recaptured |  |  |  |
| Net Advisory Fee | $(61367) | $218136 | $817762 |

---

---

| | |
|:---|:---|
| **EVENTIDE** | **57** |
| **EVENTIDE** | **57** |

---

---

| | |
|:---|:---|
| **S T A T E M E N T O F A D D I T I O N A L I N F O R M A T I O N** | **N o v e m b e r 1, 2 0 2 5** |

---

Sub-Adviser (Balanced Fund, Limited-Term Bond Fund and Core Bond Fund)

Boyd Watterson Asset Management, LLC, has been retained to act as the sub-adviser to the Balanced Fund, Limited-Term Bond Fund and Core Bond Fund under an Investment Sub-Advisory Agreement ("Sub-Advisory Agreement") with the Adviser. Boyd Watterson is headquartered at 1301 E. 9th St., Suite 2900, Cleveland OH, 44114.

As compensation for the sub-advisory services it provides to the Funds and other mutual funds and investment products offered by the Adviser and sub-advised by Boyd Watterson (collectively, the "Sub-Advised Products"), the Adviser, and not any Fund, pays Boyd Watterson an annual fee of 0.15% of the first $100,000,000 of the average daily net assets of the Sub-Advised Products in the aggregate; 0.07% of the average daily net assets of the Sub-Advised Products in the aggregate in excess of $100,000,000 up to $500,000,000; and 0.06% thereafter of the average daily net assets of the Sub-Advised Products in the aggregate. The fee paid to Boyd Watterson by the Adviser is paid from the Adviser's advisory fee and is not an additional cost to the Fund. The Sub-Advisory Agreement is effective for an initial two-year period and continues in effect for successive twelve-month periods thereafter, provided that the Board, including a majority of the Trustees who are not "interested persons," annually approves it for continuance. A discussion regarding the basis of the Board's approval of the Sub-Advisory Agreement between the Adviser and Boyd Watterson on behalf of the Balanced Fund, Limited-Term Bond Fund and Core Bond Fund is available in the Financial Statements for the semi-annual period ended December 31, 2024.

Portfolio Managers

Dr. Finny Kuruvilla, Co-Chief Investment Officer and Senior Portfolio Manager of the Adviser, serves as the Portfolio Manager primarily responsible for the day-to-day management of the Gilead Fund.

Dr. Finny Kuruvilla and Dr. I-hung Shih, Portfolio Managers of the Adviser, serve as the Portfolio Managers of the Healthcare & Life Sciences Fund and are primarily responsible for the day-to-day management of the Healthcare & Life Sciences Fund. Dr. Kuruvilla is the Lead Portfolio Manager of the Fund.

Dolores S. Bamford, CFA, Co-Chief Investment Officer and Senior Portfolio Manager of the Adviser, and David M. Dirk, CFA, Director of Portfolio Management and Trading of Boyd Watterson, serve as the Portfolio Managers primarily responsible for the day-to-day management of the Balanced Fund. Ms. Bamford is the Lead Portfolio Manager of the Fund.

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| **EVENTIDE** | **58** |
| **EVENTIDE** | **58** |

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| **S T A T E M E N T O F A D D I T I O N A L I N F O R M A T I O N** | **N o v e m b e r 1, 2 0 2 5** |

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Christopher Grogan, CFA, Director of Investment Consulting of the Adviser and Mr. Dirk serve as the Portfolio Managers primarily responsible for the day-to-day management of the Limited-Term Bond Fund and Core Bond Fund.

Ms. Bamford and Andrew Singer, CFA, Portfolio Manager and Senior Research Analyst of the Adviser, serve as the Portfolio Managers primarily responsible for the day-to-day management of the Dividend Growth Fund. Ms. Bamford is the Lead Portfolio Manager of the Fund.

Dr. Finny Kuruvilla, Co-Chief Investment Officer and Senior Portfolio Manager of the Adviser, and Darric White, Portfolio Manager and Senior Research Analyst of the Adviser, serve as Portfolio Managers jointly and primarily responsible for the day-to-day management of the Exponential Technologies Fund.

Mr. Singer and Ms. Bamford serve as the Portfolio Managers and are primarily responsible for the day-to-day management of the Large Cap Focus Fund.

Compensation

Portfolio manager compensation generally consists of a fixed base salary, bonuses and incentives based on both objective and subjective performance criteria and, in certain cases, participation in a revenue sharing plan sponsored by the Adviser. Certain portfolio managers may own equity interests in the Adviser from time to time, entitling them to a share of the Adviser's net income and a share of the proceeds if the Adviser were to sell all or a portion of its business. Portfolio managers also receive employee benefits, including, but not limited to, health care, insurance benefits, and access to a 401(k) plan, offered by the Adviser.

Mr. Dirk receives from Boyd Watterson a fixed salary and a discretionary bonus. He also receives employee benefits, including, but not limited to, health care and other insurance benefits as well as participation in a 401(k) program.

Portfolio Managers' Other Accounts Managed — All Funds

As of June 30, 2025, the number of, and total assets in all other registered investment companies, other pooled investment vehicles, and other accounts overseen by each portfolio manager are as follows:

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| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
| Portfolio Manager | &nbsp;&nbsp;Registered Investment <br> Companies | &nbsp;&nbsp;Registered Investment <br> Companies | &nbsp;&nbsp;Other Pooled Investment <br> Vehicles Managed | &nbsp;&nbsp;Other Pooled Investment <br> Vehicles Managed | &nbsp;&nbsp;Other Accounts Managed | &nbsp;&nbsp;Other Accounts Managed |
| Portfolio Manager | &nbsp;&nbsp;Number | &nbsp;&nbsp;Total Assets | &nbsp;&nbsp;Number | &nbsp;&nbsp;Total Assets | &nbsp;&nbsp;Number | &nbsp;&nbsp;Total Assets |
| Dr. Kuruvilla<sup>1</sup> | &nbsp;&nbsp;3 | &nbsp;&nbsp;$4.03 billion | &nbsp;&nbsp;1 | &nbsp;&nbsp;$92.16 million | &nbsp;&nbsp;5 | &nbsp;&nbsp;$24.73 million |
| Ms. Bamford<sup>1</sup> | &nbsp;&nbsp;4 | &nbsp;&nbsp;1.89 billion | &nbsp;&nbsp;0 | &nbsp;&nbsp;0 | &nbsp;&nbsp;3 | &nbsp;&nbsp;64.2 million |
| Mr. Dirk | &nbsp;&nbsp;4 | &nbsp;&nbsp;1.03 billion | &nbsp;&nbsp;0 | &nbsp;&nbsp;0 | &nbsp;&nbsp;162 | &nbsp;&nbsp;1.22 billion |
| Mr. Grogan | &nbsp;&nbsp;3 | &nbsp;&nbsp;419.53 million | &nbsp;&nbsp;0 | &nbsp;&nbsp;0 | &nbsp;&nbsp;1 | &nbsp;&nbsp;0.67 million |
| Dr. Shih<sup>1</sup> | &nbsp;&nbsp;1 | &nbsp;&nbsp;1.15 billion | &nbsp;&nbsp;1 | &nbsp;&nbsp;92.16 million | &nbsp;&nbsp;0 | &nbsp;&nbsp;0 |
| Mr. Singer<sup>1</sup> | &nbsp;&nbsp;2 | &nbsp;&nbsp;1.36 billion | &nbsp;&nbsp;0 | &nbsp;&nbsp;0 | &nbsp;&nbsp;2 | &nbsp;&nbsp;64.09 million |
| Mr. White | &nbsp;&nbsp;1 | &nbsp;&nbsp;97.74 million | &nbsp;&nbsp;0 | &nbsp;&nbsp;0 | &nbsp;&nbsp;1 | &nbsp;&nbsp;0.75 million |

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1. Dr.
 Kuruvilla also manages portfolio models which are used by certain financial advisers in those
 advisers' wrap fee programs. These advisers have directed investments through their
 wrap-fee programs based on two models managed by Dr. Kuruvilla a total of $49.2 million
 as of June 30, 2025. Similarly, Ms. Bamford manages three portfolio models
 in which advisers have directed investments of $102.36 million as of June 30, 2025;
 Mr. Singer manages two portfolio models in which advisers have directed investments of $101.48
 million; and Dr. Shih manages one portfolio model in which advisers have directed
 investments of $1.748 million.

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| **EVENTIDE** | **59** |
| **EVENTIDE** | **59** |

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| **S T A T E M E N T O F A D D I T I O N A L I N F O R M A T I O N** | **N o v e m b e r 1, 2 0 2 5** |

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The advisory fee is not based on the performance of the respective account for any of the registered investment companies or other accounts referred to above. The advisory fee is based on the performance of the other pooled investment vehicles referred to above.

As of June 30, 2025, the portfolio managers owned shares of the Funds the value of which fell within the following ranges:

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| | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| | &nbsp;&nbsp;Gilead Fund | &nbsp;&nbsp;Healthcare & Life <br> Sciences Fund | &nbsp;&nbsp;Balanced Fund | &nbsp;&nbsp;Dividend <br> Growth Fund | &nbsp;&nbsp;Limited-Term<br> Bond Fund | &nbsp;&nbsp;Exponential <br> Technologies <br> Fund | &nbsp;&nbsp;Core <br> Bond <br> Fund | &nbsp;&nbsp;Large Cap Focus <br> Fund |
| Dr. Kuruvilla | &nbsp;&nbsp;$500001-$1000000 | &nbsp;&nbsp;$100001-<br> $500000 | &nbsp;&nbsp;$100001-<br> $500000 | &nbsp;&nbsp;$10001 - $50000 |  | &nbsp;&nbsp;$50001-<br> $100000 |  | &nbsp;&nbsp;$10001 - $50000 |
| Ms. Bamford |  |  | &nbsp;&nbsp;$100001-<br> $500000 | &nbsp;&nbsp;Over $1,000,000 |  |  |  | &nbsp;&nbsp;$100001 - $500000 |
| Mr. Dirk |  |  |  |  |  |  |  |  |
| Mr. Grogan | &nbsp;&nbsp;$50001 - $100000 | &nbsp;&nbsp;$10001 - $50000 |  | &nbsp;&nbsp;$50001 - $100000 |  |  |  | &nbsp;&nbsp;$10001 - $50000 |
| Dr. Shih |  |  |  |  |  |  |  |  |
| Mr. Singer |  |  | &nbsp;&nbsp;$0 - $10000 | &nbsp;&nbsp;$500001 - $1000000 |  |  |  | &nbsp;&nbsp;$500001 - $1000000 |
| Mr. White | &nbsp;&nbsp;$10001 - $50000 |  |  |  |  |  |  |  |

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Potential Conflicts of Interest

Actual or apparent conflicts of interest may arise when a portfolio manager has day-to-day management responsibilities with respect to more than one fund or other accounts. More specifically, portfolio managers responsible for multiple funds are presented with the following potential conflicts:

Advising multiple accounts may result in a portfolio manager devoting unequal time and attention to each account. Advising multiple funds and accounts also may give rise to potential conflicts of interest if the Funds and accounts have different objectives, benchmarks, time horizons, and fees as the portfolio manager must allocate his time and investment ideas across multiple funds and accounts.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;■ With
 respect to securities transactions for the Funds, the Adviser, and the Sub-Adviser as applicable
 to its portion of the Balanced Fund, Limited-Term Bond Fund and Core Bond Fund, determine
 which broker to use to execute each order, consistent with the duty to seek best execution
 of the transaction. The portfolio manager may execute transactions for another fund or account
 that may adversely impact the value of securities held by a Fund. Securities selected for
 funds or accounts other than a Fund may outperform the securities selected for the Fund.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;■ The
 appearance of a conflict of interest may arise where an adviser has an incentive, such as
 a performance-based advisory fee. The management of personal accounts may give rise to potential
 conflicts of interest; there is no assurance that the Funds' code of ethics will adequately
 address such conflicts. One of the portfolio

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|:---|:---|
| **EVENTIDE** | **60** |
| **EVENTIDE** | **60** |

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| **S T A T E M E N T O F A D D I T I O N A L I N F O R M A T I O N** | **N o v e m b e r 1, 2 0 2 5** |

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manager's numerous responsibilities is to assist in the sale of Fund shares. Because a portfolio manager's compensation is linked to the sale of Fund shares, the portfolio manager may have an incentive to devote time to marketing efforts designed to increase sales of Fund shares.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;■ The
 Funds have adopted a code of ethics that, among other things, permits personal trading by
 employees under conditions where it has been determined that such trades would not adversely
 impact client accounts. Nevertheless, the management of personal accounts may give rise to
 potential conflicts of interest, and there is no assurance that the code of ethics will adequately
 address such conflicts.

The Funds may invest in securities in which venture capital funds that are managed by Clarus Ventures, LLC also invest. Dr. Finny Kuruvilla, the portfolio manager for the Exponential Technologies Fund, Gilead Fund, and the Healthcare & Life Sciences Fund, was also an employee of Clarus serving in a research role from July 2008 through October 2016. As a result of his Clarus role and investments in Clarus funds, Dr. Kuruvilla expects to receive distributions from Clarus funds independent of any investment made by these Funds in the same securities as Clarus funds. Dr. Kuruvilla does not receive compensation from Clarus for these Funds' investments in the same securities as Clarus funds.

The Funds may invest in securities in which venture capital funds that are managed by Wellington Management Company LLP also invest. Dr. Shih, a portfolio manager for the Healthcare & Life Sciences Fund, was an employee of Wellington serving in a portfolio management role prior to joining Eventide. As a result of her Wellington role, Dr. Shih expects to receive distributions from Wellington funds independent of any investment made by the Fund in the same securities as Wellington funds. Dr. Shih does not receive compensation from Wellington for this Fund's investments in the same securities as Wellington funds.

The Adviser, the Sub-Adviser, and the Trust have adopted certain compliance procedures that are designed to address these types of conflicts. However, there is no guarantee that such procedures will detect each and every situation in which a conflict arises.

Code of Ethics

The Adviser, Boyd Watterson, Northern Lights Distributors, LLC, the distributor of the Funds' shares, and the Trust have adopted codes of ethics under Rule 17j-1(c) of the 1940 Act. The purpose of each code is to avoid potential conflicts of interest and to prevent fraud, deception or misconduct with respect to the Funds. Such codes of ethics permit personnel covered by the codes to invest in securities that may be purchased by the Funds, subject to the restrictions of the code. The codes are filed as exhibits to the Trust's registration statement.

Transfer Agent, Fund Accounting Agent and Financial Administrator

Ultimus Fund Solutions, LLC ("Ultimus"), which has its principal office at 225 Pictoria Drive, Suite 450, Cincinnati, Ohio 45246, serves as financial administrator, fund accountant and transfer agent for the Funds pursuant to the Fund Services Agreement (the "Agreement") with the Trust and subject to the supervision of the Board. Ultimus is primarily in the business of providing administrative, fund accounting and transfer agent services to retail and institutional mutual funds. Ultimus is an affiliate of the distributor.

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|:---|:---|
| **EVENTIDE** | **61** |
| **EVENTIDE** | **61** |

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| **S T A T E M E N T O F A D D I T I O N A L I N F O R M A T I O N** | **N o v e m b e r 1, 2 0 2 5** |

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Ultimus may also provide persons to serve as officers of the Funds. Such officers may be directors, officers or employees of Ultimus or its affiliates.

The Agreement will remain in effect for an initial term of three years from the effective date for the Funds, and will continue in effect for successive twelve-month periods provided that such continuance is specifically approved at least annually by a majority of the Board. The Agreement is terminable by the Board or Ultimus on 90 days' written notice and may be assigned by either party, provided that the Trust may not assign this agreement without the prior written consent of Ultimus. The Agreement provides that Ultimus shall be without liability for any action reasonably taken or omitted pursuant to the Agreement.

Under the Agreement, Ultimus performs administrative services, including: (1) monitoring the performance of administrative and professional services rendered to the Trust by others service providers; (2) monitoring Fund holdings and operations for post-trade compliance with the Fund registration statement and applicable laws and rules; (3) preparing and coordinating the printing of semi-annual and annual financial statements; (4) preparing selected management reports for performance and compliance analyses; (5) preparing and disseminating materials for and attending and participating in meetings of the Board; (6) determining income and capital gains available for distribution and calculating distributions required to meet regulatory, income, and excise tax requirements; (7) reviewing the Trust's federal, state, and local tax returns as prepared and signed by the Trust's independent public accountants; (8) preparing and maintaining the Trust's operating expense budget to determine proper expense accruals to be charged to the Fund to calculate its daily net asset value; (9) assisting in and monitoring the preparation, filing, printing and where applicable, dissemination of periodic reports to the Board, shareholders and the SEC, notices pursuant to Rule 24f-2 under the 1940 Act, proxy materials and reports to the SEC on Forms N-CEN, N-CSR, N-PORT and N-PX; (10) coordinating the Trust's audits and examinations by assisting the Funds' independent public accountants; (11) determining, in consultation with others, the jurisdictions in which shares of the Trust shall be registered or qualified for sale and facilitate such registration or qualification; (12) monitoring sales of shares and ensuring that the shares are properly and duly registered with the SEC; (13) monitoring the calculation of performance data for the Funds; (14) preparing, or causing to be prepared, expense and financial reports; (15) preparing authorization for the payment of Trust expenses and paying, from Trust assets, all bills of the Trust; (16) providing information typically supplied in the investment company industry to companies that track or report price, performance or other information with respect to investment companies; (17) upon request, assisting the Funds in the evaluation and selection of other service providers, such as independent public accountants, printers, EDGAR providers and proxy solicitors (such parties may be affiliates of Ultimus); and (18) performing other services, recordkeeping and assistance relating to the affairs of the Trust as the Trust may, from time to time, reasonably request.

Ultimus also provides the Funds with accounting services, including: (i) daily computation of net asset value; (ii) maintenance of security ledgers and books and records as required by the 1940 Act; (iii) production of each Fund's listing of portfolio securities and general ledger reports; (iv) reconciliation of accounting records; (v) calculation of yield and total return for each Fund; (vi) maintenance of certain books and records described in Rule 31a-1 under the 1940 Act, and reconciliation of account information and balances among the Funds' custodian and Advisor; and (vii) monitoring and evaluation of daily income and expense accruals, and sales and redemptions of shares of the Funds.

Ultimus also acts as transfer, dividend disbursing, and shareholder servicing agent for the Funds pursuant to the Agreement. Under the Agreement, Ultimus is responsible for administering and performing transfer agent functions,

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|:---|:---|
| **EVENTIDE** | **62** |
| **EVENTIDE** | **62** |

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| **S T A T E M E N T O F A D D I T I O N A L I N F O R M A T I O N** | **N o v e m b e r 1, 2 0 2 5** |

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dividend distribution, shareholder administration, and maintaining necessary records in accordance with applicable rules and regulations.

For these services, each of the Funds pays Ultimus an annual asset-based fee of 0.13% of net assets up to $50 million, with lower fees at higher asset levels, plus reimbursement of out-of-pocket expenses.

The Funds paid the following fees for these services for the fiscal years ended June 30, 2023, June 30, 2024, and June 30, 2025:

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| | | | |
|:---|:---|:---|:---|
| Fiscal Years Ended June 30: | 2023 | 2024 | 2025 |
| Gilead Fund | $1213839 | $1333005 | $1100405 |
| Healthcare & Life Sciences Fund | $588161 | $667549 | $559820 |
| Balanced Fund | $163949 | $178427 | $211020 |
| Dividend Growth Fund | $213551 | $262961 | $394527 |
| Limited-Term Bond Fund | $96627 | $105667 | $105331 |
| Exponential Technologies Fund | $66865 | $82995 | $91295 |
| Core Bond Fund | $49996 | $70992 | $110875 |
| Large Cap Focus Fund | $25121 | $37981 | $99916 |

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MFund Services LLC ("MFund") provides the Funds with various management and legal administrative services. For these services, each Fund pays MFund an annual asset-based fee in accordance with the schedule set forth below applied at the Fund family level (i.e., all the Funds in the Trust advised by the Adviser):

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| |
|:---|
| Annual Asset-Based Fee |
| 0.10% of assets from $0 to $50,000,000 |
| 0.07% of assets from $50,000,000 to $100,000,000 |
| 0.05% of assets from $100,000,000 to $250,000,000 |
| 0.04% of assets from $250,000,000 to $500,000,000 |
| 0.03% of assets from $500,000,000 to $1,000,000,000 |
| 0.02% of assets from $1,000,000,000 to $5,000,000,000 |
| 0.01% of assets from $5,000,000,000 and above |

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In addition, the Funds reimburse MFund for any reasonable out- of- pocket expenses incurred in the performance of its duties under the Management Services Agreement. Jerry Szilagyi is the controlling member of each of AlphaCentric Advisors LLC, Catalyst Capital Advisers LLC (investment advisers to other series of the Trust), and MFund, and is a Trustee of the Trust.

The Funds paid MFund the following amounts shown for the services provided to the Fund for the last three fiscal years ended June 30:

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| | | | |
|:---|:---|:---|:---|
| *Fiscal Years or Periods Ended June 30:* | 2023 | 2024 | 2025 |
| Gilead Fund | $752676 | $753401 | $631818 |
| Healthcare & Life Sciences Fund | $340987 | $328420 | $281921 |
| Balanced Fund | $74475 | $71477 | $82497 |
| Dividend Growth Fund | $107060 | $140604 | $222474 |
| Limited-Term Bond Fund | $33223 | $28166 | $33086 |
| Exponential Technologies Fund | $20891 | $24657 | $22805 |
| Core Bond Fund | $14211 | $21649 | $31707 |
| Large Cap Focus Fund | $1343 | $8996 | $32169 |

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|:---|:---|
| **EVENTIDE** | **63** |
| **EVENTIDE** | **63** |

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| **S T A T E M E N T O F A D D I T I O N A L I N F O R M A T I O N** | **N o v e m b e r 1, 2 0 2 5** |

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Compliance Services

MFund provides the Chief Compliance Officer and certain compliance related services to the Trust pursuant to a Compliance Services Agreement.

The Funds paid MFund Services the following amounts for compliance services provided to the Fund for the last three fiscal years ended June 30:

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| | | | |
|:---|:---|:---|:---|
| Fiscal Years Ended June 30: | 2023 | 2024 | 2025 |
| Gilead Fund | $95111 | $99011 | $81643 |
| Healthcare & Life Sciences Fund | $46067 | $47437 | $40408 |
| Balanced Fund | $17894 | $17132 | $18613 |
| Dividend Growth Fund | $19292 | $23545 | $32739 |
| Limited-Term Bond Fund | $12993 | $11994 | $12776 |
| Exponential Technologies Fund | $9247 | $9813 | $9524 |
| Core Bond Fund | $10575 | $11304 | $12589 |
| Large Cap Focus Fund | $6968 | $7789 | $10566 |

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Custodian

Pursuant to a Custody Agreement between the Trust and U.S. Bank National Association (the "Custodian"), 1555 N. Rivercenter Drive, Suite 302, Milwaukee, WI 53212, the Custodian serves as the custodian of the Funds. The Custodian is responsible for custody of all securities and cash of the Funds. The Custodian, among other things, attends to the collection of principal and income and payment for and collection of proceeds of securities bought and sold by the Funds.

Independent Registered Public Accounting Firm

The Funds' independent registered public accounting firm is Cohen & Company, Ltd., 8101 East Prentice Ave., Suite 750, Greenwood Village, CO 80111. Shareholders will receive annual financial statements, together with a report of independent registered public accounting firm, and semiannual unaudited financial statements of the Funds. Cohen & Company, Ltd. will report on the Funds' annual financial statements, review certain regulatory reports and perform

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|:---|:---|
| **EVENTIDE** | **64** |
| **EVENTIDE** | **64** |

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| **S T A T E M E N T O F A D D I T I O N A L I N F O R M A T I O N** | **N o v e m b e r 1, 2 0 2 5** |

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other professional auditing services when engaged to do so by the Funds. Cohen & Co Advisory, LLC, an affiliate of Cohen & Company, Ltd., reports on the Funds' income tax returns, and performs other professional tax services when engaged to do so by the Funds.

Counsel

Thompson Hine LLP, 41 South High Street, Suite 1700, Columbus, OH 43215, serves as counsel for the Trust.

Distributor

Northern Lights Distributors, LLC, located at 4221 North 203rd Street, Suite 100, Elkhorn, Nebraska, 68022 (the "Distributor") serves as the principal underwriter and national distributor for the shares of the Funds pursuant to an Underwriting Agreement with the Trust (the "Underwriting Agreement"). The Distributor is registered as a broker-dealer under the Securities Exchange Act of 1934 and each state's securities laws and is a member of FINRA. The offering of the Funds' shares is continuous. The Underwriting Agreement provides that the Distributor, as agent in connection with the distribution of Fund shares, will use reasonable efforts to facilitate the sale of the Funds' shares.

The Underwriting Agreement provides that, unless sooner terminated, it will continue in effect for two years initially and thereafter shall continue from year to year, subject to annual approval by (a) the Board or a vote of a majority of the outstanding shares, and (b) by a majority of the Trustees who are not interested persons of the Trust or of the Distributor by vote cast in person at a meeting called for the purpose of voting on such approval.

The Underwriting Agreement may be terminated by the Funds at any time, without the payment of any penalty, by vote of a majority of the entire Board of the Trust or by vote of a majority of the outstanding shares of the Funds on 60 days' written notice to the Distributor, or by the Distributor at any time, without the payment of any penalty, on 60 days' written notice to the Funds. The Underwriting Agreement will automatically terminate in the event of its assignment.

12b-1 Plans

Each Fund has adopted Distribution and Shareholder Servicing Plans (each a "Plan," collectively, the "Plans") pursuant to Rule 12b-1 under the 1940 Act. Rule 12b-1 provides that any payments made by a Fund in connection with the distribution of its shares may be made only pursuant to a written plan describing all material aspects of the proposed financing of the distribution and also requires that all agreements with any person relating to the implementation of a plan must be in writing. Under the Funds' Plan related to Class A Shares, each Fund incurs an annual fee of up to 0.50% of the average daily net assets of the respective Fund's Class A Shares (the "Class A 12b - 1 Fee"). Class A Shares of the Funds are currently incurring an annual fee of up to 0.25% of its average daily net assets. If authorized by the Board and upon notice to shareholders, a Fund may increase the percentage paid under the Plan up to the Class A 12b-1 Fee amount. Under the Funds' Plan related to Class C Shares, each Fund incurs an annual fee of up to 1.00% of the average daily net assets of the respective Fund's Class C Shares (the "Class C 12b - 1 Fee"). Under the Funds' Plan related to Class N Shares, each Fund incurs an annual fee of up to 0.25% of the average daily net assets of the respective Fund's shares (the "Class N 12b-1 Fee") (the Class A 12b-1 Fee, the Class C 12b-1 Fee and

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|:---|:---|
| **EVENTIDE** | **65** |
| **EVENTIDE** | **65** |

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|:---|:---|
| **S T A T E M E N T O F A D D I T I O N A L I N F O R M A T I O N** | **N o v e m b e r 1, 2 0 2 5** |

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the Class N 12b-1 Fee are collectively referred to as the "12b-1 Fee"). Each Fund is currently incurring an annual fee of up to 0.25% of the Fund's average daily net assets for Class A Shares, up to 1.00% for Class C shares, and up to 0.20% of the Fund's average daily net assets for Class N shares.

Each 12b-1 Fee may be used to pay a fee to broker-dealers, including the Distributor and affiliates of the Distributor, the Adviser, banks and savings and loan institutions and their affiliates and associated broker-dealers that have entered into Service Agreements with the Distributor ("Service Organizations") of annual amounts of up to 0.25% of the average net asset value of all shares of the Fund owned by shareholders with whom the Service Organization has a servicing relationship. The 12b-1 Fees may also be used to reimburse parties for shareholder services and distribution- related expenses. It is expected that the Plans will aid the Funds in attracting new shareholders and assets that will provide benefits to the Funds including reduced expense ratios due to higher asset levels.

The Plans continue in effect from year to year, provided that each such continuance is approved at least annually by a vote of the Board, including a majority of the trustees who are not "interested persons" of the Trust and have no direct or indirect financial interest in the operation of the Plans or in any agreements entered into in connection with the Plans (the "Qualified Trustees"). The Plans may be terminated at any time, without penalty, by vote of a majority of the Qualified Trustees of the Fund or by vote of a majority of the outstanding shares of the Fund. Any amendment to a Plan to increase materially the amount a Fund is authorized to pay thereunder would require approval by a majority of the outstanding shares of the respective class of the Fund. Other material amendments to the Plans would be required to be approved by vote of the Board, including a majority of the Qualified Trustees. The Distributor may at its own discretion waive a portion of its fees from time to time, although such a waiver is not required.

Dealers who are holders or dealers of record for accounts in the Funds may receive payments from 12b-1 Fees. A dealer's marketing support services may include business planning assistance, educating dealer personnel about the Fund and shareholder financial planning needs, placement on the dealer's preferred or recommended fund list, and access to sales meetings, sales representatives and management representatives of the dealer. Dealers are compensated differently depending upon, among other factors, the level and/or type of marketing support provided by the dealer. From time to time, the Adviser, at its expense, may provide additional compensation to dealers that sell or arrange for the sale of shares of the Funds. Such compensation provided by the Adviser may include financial assistance to dealers that enable the Adviser to participate in and/or present at conferences or seminars, sales or training programs for invited registered representatives and other employees, client and investor events and other dealer-sponsored events. Other compensation may be offered to the extent not prohibited by state laws or any self-regulatory agency, such as FINRA. The Adviser makes payments for events they deem appropriate, subject to applicable law. These payments may vary depending upon the nature of the event.

The table below states the amounts paid by Class A, Class C and Class N shares of each Fund under the distribution plans for the fiscal year ended June 30, 2025.

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| | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| | Gilead Fund | Healthcare & <br> Life Sciences <br> Fund | Balanced <br> Fund | Dividend <br> Growth Fund | Limited-Term <br> Bond <br> Fund | Exponential <br> Technologies <br> Fund | Core Bond <br> Fund | Large Cap <br> Focus Fund |
| Class A Shares | &nbsp;&nbsp;&nbsp;$771696 | &nbsp;&nbsp;&nbsp;$296461 | &nbsp;&nbsp;&nbsp;$83919 | &nbsp;&nbsp;&nbsp;$164797 | &nbsp;&nbsp;&nbsp;$13950 | &nbsp;&nbsp;&nbsp;$43360 | &nbsp;&nbsp;&nbsp;$2508 | &nbsp;&nbsp;&nbsp;$7569 |
| Class C Shares | &nbsp;&nbsp;&nbsp;$1578252 | &nbsp;&nbsp;&nbsp;$512458 | &nbsp;&nbsp;&nbsp;$151482 | &nbsp;&nbsp;&nbsp;$198862 | &nbsp;&nbsp;&nbsp;$13045 | &nbsp;&nbsp;&nbsp;$26278 | &nbsp;&nbsp;&nbsp;$3482 | &nbsp;&nbsp;&nbsp;$3304 |
| Class N Shares | &nbsp;&nbsp;&nbsp;$872065 | &nbsp;&nbsp;&nbsp;$188809 | &nbsp;&nbsp;&nbsp;$47154 | &nbsp;&nbsp;&nbsp;$201341 | &nbsp;&nbsp;&nbsp;$44801 | &nbsp;&nbsp;&nbsp;$48542 | &nbsp;&nbsp;&nbsp;$93184 | &nbsp;&nbsp;&nbsp;$39079 |

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---

| | |
|:---|:---|
| **EVENTIDE** | **66** |
| **EVENTIDE** | **66** |

---

---

| | |
|:---|:---|
| **S T A T E M E N T O F A D D I T I O N A L I N F O R M A T I O N** | **N o v e m b e r 1, 2 0 2 5** |

---

The table below states the principal types of activities for which Class A, Class C and Class N shares of each Fund made payments under the distribution plans for the fiscal year ended June 30, 2025.

---

| | | | |
|:---|:---|:---|:---|
| | Class A | Class C | Class N |
| **Gilead Fund** |  |  |  |
| Advertising & Sales Literature |  | $23343 |  |
| Printing & Mailing of Prospectuses |  |  |  |
| Compensation to Underwriters |  |  |  |
| Compensation to Broker Dealers | $753691 | $1554909 | $872065 |
| Compensation to Sales Personnel | $18005 |  |  |
| Interest, Carrying or other Financial Charges |  |  |  |
| Compensation to the Adviser for Distribution-Related Expenses |  |  |  |
| Other – Accrued and Unpaid |  |  |  |
| Healthcare & Life Sciences Fund<br>|  |  |  |
| Advertising & Sales Literature |  | $10479 |  |
| Printing & Mailing of Prospectuses |  |  |  |
| Compensation to Underwriters |  |  |  |
| Compensation to Broker Dealers | $289167 | $501980 | $188809 |
| Compensation to Sales Personnel | $7294 |  |  |
| Interest, Carrying or other Financial Charges |  |  |  |
| Compensation to the Adviser for Distribution-Related Expenses |  |  |  |
| Other – Accrued and Unpaid |  |  |  |

---

---

| | |
|:---|:---|
| **EVENTIDE** | **67** |
| **EVENTIDE** | **67** |

---

---

| | |
|:---|:---|
| **S T A T E M E N T O F A D D I T I O N A L I N F O R M A T I O N** | **N o v e m b e r 1, 2 0 2 5** |

---

---

| | | | |
|:---|:---|:---|:---|
| | Class A | Class C | Class N |
| **Balanced Fund**<br>|  |  |  |
| Advertising & Sales Literature |  | $2837 |  |
| Printing & Mailing of Prospectuses |  |  |  |
| Compensation to Underwriters |  |  |  |
| Compensation to Broker Dealers | $81797 | $148645 | $47154 |
| Compensation to Sales Personnel | $2122 |  |  |
| Interest, Carrying |  |  |  |
| or other Financial Charges |  |  |  |
| Compensation to the Adviser for Distribution-Related Expenses |  |  |  |
| Other – Accrued and Unpaid |  |  |  |
| **Dividend Growth Fund** |  |  |  |
| Advertising & Sales Literature |  | $7047 |  |
| Printing & Mailing of Prospectuses |  |  |  |
| Compensation to Underwriters |  |  |  |
| Compensation to Broker Dealers | $159089 | $191815 | $201341 |
| Compensation to Sales Personnel | $5708 |  |  |
| Interest, Carrying or other Financial Charges |  |  |  |
| Compensation to the Adviser for Distribution-Related Expenses |  |  |  |
| Other – Accrued and Unpaid |  |  |  |
| **Limited-Term Bond Fund**<br>|  |  |  |
| Advertising & Sales Literature |  | $1106 |  |
| Printing & Mailing of Prospectuses |  |  |  |
| Compensation to Underwriters |  |  |  |
| Compensation to Broker Dealers | $13015 | $11939 | $44801 |
| Compensation to Sales Personnel | $935 |  |  |
| Interest, Carrying or other Financial Charges |  |  |  |
| Compensation to the Adviser for Distribution-Related Expenses |  |  |  |
| Other – Accrued and Unpaid |  |  |  |

---

---

| | |
|:---|:---|
| **EVENTIDE** | **68** |
| **EVENTIDE** | **68** |

---

---

| | |
|:---|:---|
| **S T A T E M E N T O F A D D I T I O N A L I N F O R M A T I O N** | **N o v e m b e r 1, 2 0 2 5** |

---

---

| | | | |
|:---|:---|:---|:---|
| | Class A | Class C | Class N |
| **Exponential Technologies Fund**<br>|  |  |  |
| Advertising & Sales Literature |  | $825 |  |
| Printing & Mailing of Prospectuses |  |  |  |
| Compensation to Underwriters |  |  |  |
| Compensation to Broker Dealers | $42714 | $25453 | $48542 |
| Compensation to Sales Personnel | $646 |  |  |
| Interest, Carrying or other Financial Charges |  |  |  |
| Compensation to the Adviser for Distribution-Related Expenses |  |  |  |
| Other – Accrued and Unpaid |  |  |  |
| **Core Bond Fund** |  |  |  |
| Advertising & Sales Literature |  | $1060 |  |
| Printing & Mailing of Prospectuses |  |  |  |
| Compensation to Underwriters |  |  |  |
| Compensation to Broker Dealers | $1681 | $2422 | $93184 |
| Compensation to Sales Personnel | $827 |  |  |
| Interest, Carrying or other Financial Charges |  |  |  |
| Compensation to the Adviser for Distribution-Related Expenses |  |  |  |
| Other – Accrued and Unpaid |  |  |  |
|  | Class A | Class C | Class N |
| **Large Cap Focus Fund** |  |  |  |
| Advertising & Sales Literature |  | $768 |  |
| Printing & Mailing of Prospectuses |  |  |  |
| Compensation to Underwriters |  |  |  |
| Compensation to Broker Dealers | $6680 | $2536 | $39079 |
| Compensation to Sales Personnel | $889 |  |  |
| Interest, Carrying or other Financial Charges |  |  |  |
| Compensation to the Adviser for Distribution-Related Expenses |  |  |  |
| Other – Accrued and Unpaid |  |  |  |

---

---

| | |
|:---|:---|
| **EVENTIDE** | **69** |
| **EVENTIDE** | **69** |

---

---

| | |
|:---|:---|
| **S T A T E M E N T O F A D D I T I O N A L I N F O R M A T I O N** | **N o v e m b e r 1, 2 0 2 5** |

---

The Distributor received the following commissions and other compensation during the fiscal year ended June 30, 2025:

---

| | | | | |
|:---|:---|:---|:---|:---|
| | Net Underwriting<br>Discounts and<br>Commissions<br>| Compensation <br> on Redemptions<br>and Repurchases<br>| Brokerage <br> Commissions<br>| Other<br>Compensation |
| Gilead Fund | &nbsp;&nbsp;&nbsp;$86141 | &nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;$532185 | &nbsp;&nbsp;&nbsp;— |
| Healthcare & Life Sciences Fund | &nbsp;&nbsp;&nbsp;$19111 | &nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;$136452 | &nbsp;&nbsp;&nbsp;— |
| Balanced Fund | &nbsp;&nbsp;&nbsp;$38607 | &nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;$257667 | &nbsp;&nbsp;&nbsp;— |
| Dividend Growth Fund | &nbsp;&nbsp;&nbsp;$70099 | &nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;$454374 | &nbsp;&nbsp;&nbsp;— |
| Limited-Term Bond Fund | &nbsp;&nbsp;&nbsp;$1984 | &nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;$37442 | &nbsp;&nbsp;&nbsp;— |
| Exponential Technologies Fund | &nbsp;&nbsp;&nbsp;$4147 | &nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;$25577 | &nbsp;&nbsp;&nbsp;— |
| Core Bond Fund | &nbsp;&nbsp;&nbsp;$1226 | &nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;$6327 | &nbsp;&nbsp;&nbsp;— |
| Large Cap Focus Fund | &nbsp;&nbsp;&nbsp;$10129 | &nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;$62898 | &nbsp;&nbsp;&nbsp;— |

---

Additional Compensation to Financial Intermediaries

Each Fund may directly enter into agreements with "financial intermediaries" pursuant to which the Fund will pay the financial intermediary for services such as networking or sub-transfer agency, including the maintenance of "street name" or omnibus accounts and related sub-accounting, record-keeping and administrative services provided to such accounts. Payments made pursuant to such agreements are generally based on either: (1) a percentage of the average daily net assets of clients serviced by such financial intermediary, or (2) the number of accounts serviced by such financial intermediary. Any payments made pursuant to such agreements are in addition to, rather than in lieu of, Rule 12b-1 or shareholder service fees the financial intermediary may also be receiving. From time to time, the Adviser or its affiliates may pay a portion of the fees for networking or sub-transfer agency at its or their own expense and out of its or their legitimate profits. These payments may be material to financial intermediaries relative to other compensation paid by the Funds and/or the Underwriter, the Adviser and their affiliates. The payments described above may differ and may vary from amounts paid to the Funds' transfer agent or other service providers for providing similar services to other accounts. The financial intermediaries are not audited by the Funds, the Adviser or their service providers to determine whether such intermediaries are providing the services for which they are receiving such payments.

The Adviser or affiliates of the Adviser may also, at their own expense and out of their own legitimate profits, provide additional cash payments to financial intermediaries who sell shares of the Funds. These additional cash payments are payments over and above sales commissions or reallowances, distribution fees or servicing fees (including networking, administration and sub-transfer agency fees) payable to a financial intermediary which are disclosed elsewhere in the prospectus or this SAI. These additional cash payments are generally made to financial intermediaries that provide sub-accounting, sub-transfer agency, shareholder or administrative services or marketing support. Marketing support may include: (i) access to sales meetings or conferences, sales representatives and financial intermediary management representatives; (ii) inclusion of the Funds on a sales list, including a preferred or select sales list, or other sales programs to which financial intermediaries provide more marketing support than to other sales programs on which the Adviser or its affiliates may not need to make additional cash payments to be included; (iii) promotion of the sale of the Funds' shares in communications with a financial intermediary's customers, sales representatives or management representatives; and/or (iv) other specified services intended to assist in the distribution and marketing of the Funds' shares. These additional cash

---

| | |
|:---|:---|
| **EVENTIDE** | **70** |
| **EVENTIDE** | **70** |

---

---

| | |
|:---|:---|
| **S T A T E M E N T O F A D D I T I O N A L I N F O R M A T I O N** | **N o v e m b e r 1, 2 0 2 5** |

---

payments also may be made as an expense reimbursement in cases where the financial intermediary provides shareholder services to Fund shareholders. The Adviser and its affiliates may also pay cash compensation in the form of finders' fees or referral fees that vary depending on the dollar amount of shares sold.

The amount and value of additional cash payments vary for each financial intermediary. The availability of these additional cash payments, the varying fee structure within a particular additional cash payment arrangement and the basis for and manner in which a financial intermediary compensates its sales representatives may create a financial incentive for a particular financial intermediary and its sales representatives to recommend the Funds' shares over the shares of other mutual funds based, at least in part, on the level of compensation paid. A financial intermediary and its sales representatives may have similar financial incentives to recommend a particular class of the Funds' shares over other classes of the Funds' shares. You should consult with your financial adviser and review carefully any disclosure by the financial firm as to compensation received by your financial adviser.

Although the Funds may use financial firms that sell its shares to effect portfolio transactions for the Funds, the Funds and the Adviser will not consider the sale of Fund shares as a factor when choosing financial firms to effect those transactions.

Proxy Voting Policy

The Board has delegated responsibilities for decisions regarding proxy voting for securities held by the Funds to the Adviser. The Adviser may further delegate such proxy voting to a third-party proxy voting service provider. The proxy voting delegates will vote such proxies in accordance with proxy policies and procedures adopted by the Adviser. In some instances, the proxy voting delegates may be asked to cast a proxy vote that presents a conflict between its interests and the interests of the Funds' shareholders. In such a case, the Trust's policy requires that the proxy voting delegate abstain from making a voting decision and to forward all necessary proxy voting materials to the Trust to enable the Board to make a voting decision. When the Board is required to make a proxy voting decision, only the Trustees without a conflict of interest with regard to the security in question or the matter to be voted upon shall be permitted to participate in the decision of how a Fund's vote will be cast. Each proxy voting delegate has developed a detailed proxy voting policy that has been approved by the Board. A summary of the Adviser's proxy voting policies is attached hereto as Appendix B.

Information on how the Funds voted proxies relating to portfolio securities is available without charge, upon request, by calling 1-877-771-3836 or on the SEC's Internet site at <u>www.sec.gov</u>. In addition, a copy of the Funds' proxy voting policies and procedures is also available by calling 1-877-771-3836 and will be sent within three business days of receipt of a request.

Portfolio Turnover

Turnover rates are primarily a function of the Funds' response to market conditions. The following table details the portfolio turnover rates of the Funds for the last two fiscal years ended June 30.

---

| | | |
|:---|:---|:---|
| Fund | 2024 | 2025 |
| Gilead Fund | 36% | 60% |
| Healthcare & Life Sciences Fund | 71% | 41% |
| Balanced Fund | 43% | 55% |
| Dividend Growth Fund | 38% | 58% |
| Limited-Term Bond Fund | 33% | 7% |
| Exponential Technologies Fund | 70% | 126% |
| Core Bond Fund | 33% | 24% |
| Large Cap Focus Fund | 101% | 50% |

---

---

| | |
|:---|:---|
| **EVENTIDE** | **71** |
| **EVENTIDE** | **71** |

---

---

| | |
|:---|:---|
| **S T A T E M E N T O F A D D I T I O N A L I N F O R M A T I O N** | **N o v e m b e r 1, 2 0 2 5** |

---

The increase in the Exponential Technologies Fund's portfolio turnover rate from 70% in the 2024 fiscal year to 126% in the 2025 fiscal year was the result of repositioning the portfolio. The high portfolio turnover rate is not expected to persist.

The decrease in the Large Cap Focus Fund's portfolio turnover rate from 101% in the 2024 fiscal year to 50% in the 2025 fiscal year was the result of the elevated turnover rate coming from strategically broadening the Fund's exposure across various industries and end markets while reducing the Fund's overweight position in technology. The portfolio is expected to continue to have lower portfolio turnover.

Portfolio Transactions

Purchases and sales of securities on a securities exchange are effected by brokers, and the Funds pay a brokerage commission for this service. In transactions on stock exchanges, these commissions are negotiated. In the over-the-counter market, securities (e.g., debt securities) are normally traded on a "net" basis with dealers acting as principal for their own accounts without a stated commission, although the price of the securities usually includes a profit to the dealer. In underwritten offerings, securities are purchased at a fixed price, which includes an amount of compensation to the underwriter, generally referred to as the underwriter's concession or discount.

The primary consideration in placing portfolio security transactions with broker-dealers for execution is to obtain and maintain the availability of execution at the most favorable prices and in the most effective manner possible. The Adviser attempts to achieve this result by selecting broker-dealers to execute portfolio transactions on behalf of the Funds on the basis of the broker-dealers' professional capability, the value and quality of their brokerage services and the level of their brokerage commissions.

Although commissions paid on every transaction will, in the judgment of the Adviser, be reasonable in relation to the value of the brokerage services provided, under the Advisory Agreement and as permitted by Section 28(e) of the Securities Exchange Act of 1934, the Adviser may cause the Funds to pay a commission to broker-dealers who provide brokerage and research services to the Adviser for effecting a securities transaction for the Funds. Such commission may exceed the amount other broker-dealers would have charged for the transaction, if the Adviser determines in good faith that the greater commission is reasonable relative to the value of the brokerage and the research and investment information services provided by the executing broker-dealer viewed in terms of either a particular transaction or the Adviser's overall responsibilities to the Funds and to their other clients. Such research and investment information services may include advice as to the value of securities, the advisability of investing in, purchasing or selling securities, the availability of securities or of purchasers or sellers of securities, furnishing analyses and reports concerning issuers, industries, securities, economic factors and trends, portfolio strategy and the performance of accounts, and effecting securities transactions and performing functions incidental thereto such as clearance and settlement.

---

| | |
|:---|:---|
| **EVENTIDE** | **72** |
| **EVENTIDE** | **72** |

---

---

| | |
|:---|:---|
| **S T A T E M E N T O F A D D I T I O N A L I N F O R M A T I O N** | **N o v e m b e r 1, 2 0 2 5** |

---

Research provided by brokers may be used for the benefit of all of the clients of the Adviser and not solely or necessarily for the benefit of the Funds. The Adviser's investment management personnel attempt to evaluate the quality of research provided by brokers. Results of this effort are sometimes used by the Adviser as a consideration in the selection of brokers to execute portfolio transactions.

The investment advisory fees that the Funds pay to the Adviser will not be reduced as a consequence of the Adviser's receipt of brokerage and research services. To the extent a Fund's portfolio transactions are used to obtain such services, the brokerage commissions paid by the Fund will exceed those that might otherwise be paid by an amount that cannot be presently determined. Such services would be useful and of value to the Adviser in serving both the Fund and other clients and, conversely, such services obtained by the placement of brokerage business of other clients would be useful to the Adviser in carrying out its obligations to the Fund.

Certain investments may be appropriate for the Funds and also for other clients advised by the Adviser. Investment decisions for the Funds and other clients are made with a view to achieving their respective investment objectives and after consideration of such factors as their current holdings, availability of cash for investment and the size of their investments generally. A particular security may be bought or sold for one or more clients. In such event, and to the extent permitted by applicable law and regulations, such transactions will be aggregated and allocated among the clients in a manner believed to be equitable to each. When market supply is insufficient to fill an aggregate order, generally such allocation will be made pro rata based on a client account's initial order size.

The following table details the amount of commissions paid by the Funds on the purchase and sale of securities during the last three fiscal years ended June 30, none of which were paid to the Distributor.

---

| | | | |
|:---|:---|:---|:---|
| Fund | 2023 | 2024 | 2025 |
| Gilead Fund | $1877204 | $1947187 | $2110591 |
| Healthcare & Life Sciences Fund | $2124845 | $2144861 | $1541581 |
| Balanced Fund | $125297 | $86207 | $134281 |
| Dividend Growth Fund | $266297 | $257665 | $591568 |
| Limited-Term Bond Fund | $0 | $0 | $0 |
| Exponential Technologies Fund | $171824 | $139339 | $191766 |
| Core Bond Fund | $0 | $0 | $0 |
| Large Cap Focus Fund | $5044 | $36880 | $50951 |

---

The decrease in the Healthcare & Life Sciences Fund's commissions from $2,144,861 in the 2024 fiscal year to $1,541,581 in the 2025 fiscal year was the result of more normalized turnover levels, which had been elevated in 2023 and to a lesser extent 2024 amid a shifting landscape in the Healthcare and specifically biotech exposures.

The increase in the Balanced Fund's commissions from $86,207 in the 2024 fiscal year to $134,281 in the 2025 fiscal year was the result of the Portfolio Managers adjusting allocations in the second half of 2024 and first half of 2025 in response to policy and economic conditions.

The increase in the Dividend Growth Fund's commissions from $257,665 in the 2024 fiscal year to $591,568 in the 2025 fiscal year was the result of the Portfolio Managers adjusting allocations in the second half of 2024 and first half of 2025 in response to policy and economic conditions. Additionally, the Fund has had significant asset growth during this period which has led to higher overall commissions.

---

| | |
|:---|:---|
| **EVENTIDE** | **73** |
| **EVENTIDE** | **73** |

---

---

| | |
|:---|:---|
| **S T A T E M E N T O F A D D I T I O N A L I N F O R M A T I O N** | **N o v e m b e r 1, 2 0 2 5** |

---

Purchase and Redemption of Shares

Fund shares may be purchased from investment dealers who have sales agreements with the Distributor or from the Distributor directly. As described in the Prospectus, the Funds provide you with alternative ways of purchasing Fund shares based upon your individual investment needs and preferences by offering Class A shares as described below.

Class A Shares

You may purchase Class A shares at a public offering price equal to the applicable net asset value per share plus an up-front sales charge imposed at the time of purchase as set forth in the Prospectus.

Shares may be purchased at the public offering price through any securities dealer having a sales agreement with the Distributor. Shares may also be purchased through banks and certain other financial institutions that have agency agreements with the Distributor. These financial institutions will receive transaction fees that are the same as the commissions to dealers and may charge their customers service fees relating to investments in the Funds. Purchase requests should be addressed to the dealer or agent from which this Prospectus was received which has a sales agreement with the Distributor. Such dealer or agent may place a telephone order with the Distributor for the purchase of Fund shares. It is a dealer's or broker's responsibility to promptly forward payment and registration instructions (or completed applications) to the Transfer Agent for shares being purchased in order for investors to receive the next determined net asset value (or public offering price). Reference should be made to the wire order to ensure proper settlement of the trade. Payment for redemptions of shares purchased by telephone should be processed within three business days. Payment must be received within seven days of the order or the trade may be canceled, and the dealer or broker placing the trade will be liable for any losses.

18f-1 Election

The Trust has elected to be governed by Rule 18f-1 under the 1940 Act pursuant to which the Trust is obligated during any 90-day period to redeem shares for any one shareholder of record solely in cash up to the lesser of $250,000 or 1% of the NAV of a Fund at the beginning of such period. The Trust has made this election to permit certain funds of the Trust to deliver, in lieu of cash, readily marketable securities from its portfolio should a redemption exceed such limitations ("redemptions in kind"). A Fund may satisfy a redemption request in whole or in part through redemptions in kind pursuant to procedures approved by the Board to manage its cash positions and/or to offset certain costs arising from significant redemption activity or from portfolio turnover in connection with any type of selling activity, including portfolio repositioning and cash raises (e.g., for distributions or redemptions). This practice may benefit a Fund and its shareholders by reducing the need to maintain significant cash reserves in the Fund or to sell securities held in the Fund to meet redemption requests or for other selling activities and, in so doing, avoiding or reducing cash drag, transaction costs and capital gain realization that could otherwise result from maintaining reserves or selling securities. While it is difficult to predict the overall effect of these transactions over time, there is a risk that this activity could negatively impact the market value of the securities redeemed in kind and, in turn, the NAV of the Fund. With respect to these redemptions in kind, shareholders will receive either a pro rata basket, a custom basket of securities, or a single security, in the Fund's sole discretion, as valued in the normal course of computing a Fund's NAV. The Fund's selection of securities in connection with redemption in kind transactions will only include securities that have been disclosed in the Fund's most recent public holdings disclosure, may not necessarily be representative of the entire portfolio, and may be securities that the Fund would otherwise sell.

---

| | |
|:---|:---|
| **EVENTIDE** | **74** |
| **EVENTIDE** | **74** |

---

---

| | |
|:---|:---|
| **S T A T E M E N T O F A D D I T I O N A L I N F O R M A T I O N** | **N o v e m b e r 1, 2 0 2 5** |

---

The redeeming shareholder will usually incur brokerage costs in converting the securities to cash. The redeeming shareholder will realize a gain or loss for tax purposes upon conversion and may be exposed to market risk prior to and upon such conversion. The method of valuing securities used to make the redemptions in kind will be the same as the method of valuing portfolio securities and such valuation will be made as of the same time the redemption price is determined.

Reduction of Up-Front Sales Charge on Class A Shares <br>

Letters of Intent

An investor may qualify for a reduced sales charge on Class A shares immediately by stating his or her intention to invest in Class A shares of one or more of funds in the Eventide Fund family, during a 13-month period, an amount that would qualify for a reduced sales charge shown in the Funds' Prospectus under "How to Buy Shares — Class A Shares" and by signing a non-binding Letter of Intent, which may be signed at any time within 90 days after the first investment to be included under the Letter of Intent. After signing the Letter of Intent, each investment in Class A shares made by an investor will be entitled to the sales charge applicable to the total investment indicated in the Letter of Intent. If an investor does not complete the purchases under the Letter of Intent within the 13-month period, the sales charge will be adjusted upward, corresponding to the amount actually purchased. When an investor signs a Letter of Intent, Class A shares of the Funds with a value of up to 5% of the amount specified in the Letter of Intent will be restricted. If the total purchases of Class A shares made by an investor under the Letter of Intent, less redemptions, prior to the expiration of the 13-month period equals or exceeds the amount specified in the Letter of Intent, the restriction on the shares will be removed. In addition, if the total purchases of Class A shares exceed the amount specified and qualify for a further quantity discount, the Distributor will make a retroactive price adjustment and will apply the adjustment to purchase additional Class A shares at the then current applicable offering price. If an investor does not complete purchases under a Letter of Intent, the sales charge is adjusted upward, and, if after written notice to the investor, he or she does not pay the increased sales charge, sufficient Class A restricted shares will be redeemed at the current net asset value to pay such charge.

Rights of Accumulation

A right of accumulation ("ROA") permits an investor to aggregate shares (of any class) owned by the investor, his spouse, children and grandchildren under 21 (cumulatively, the "Investor") in some or all of the Funds in the Eventide family of funds to reach a breakpoint discount. This includes accounts held with other financial institutions and accounts established for a single trust estate or single fiduciary account, including a qualified retirement plan such as an IRA, 401(k) or 403(b) plan (some restrictions may apply). The value of shares eligible for a cumulative quantity discount equals the cumulative cost of the shares purchased (not including reinvested dividends) or the current account market value; whichever is greater. The current market value of the shares is determined by multiplying the number of shares by the previous day's NAV.

For example, if an investor owned Class C shares of the Gilead Fund worth $40,000 at the current NAV and purchased an additional $10,000 of Class A shares of the Balanced Fund, the sales charge for the $10,000 purchase would be at the rate applicable to a single $50,000 purchase.

---

| | |
|:---|:---|
| **EVENTIDE** | **75** |
| **EVENTIDE** | **75** |

---

---

| | |
|:---|:---|
| **S T A T E M E N T O F A D D I T I O N A L I N F O R M A T I O N** | **N o v e m b e r 1, 2 0 2 5** |

---

To qualify for a ROA on a purchase of Class A shares through a broker-dealer, when each purchase is made, the individual investor or the broker-dealer must provide the respective Fund with sufficient information to verify that the purchase qualifies for the discount.

Waivers of Up-Front Sales Charge on Class A Shares

The Prospectus describes the classes of persons that may purchase shares without an up-front sales charge. The elimination of the up-front sales charge for redemptions by certain classes of persons is provided because of anticipated economies of scale and sales related efforts.

To qualify for a waiver of the up-front sales charge on a purchase of Class A shares through a broker-dealer, when each purchase is made, the individual investor or the broker-dealer must provide the Funds with sufficient information to verify that the purchase qualifies for the discount.

The Funds make available, free of charge, more information about sales charge reductions and waivers through the prospectus or through your financial adviser.

Waivers of Deferred Sales Charge on Class C Shares

Certain intermediaries may provide for waivers, with respect to the CDSC assessed on certain sales of Class C shares, which are described in Appendix A to the Fund's Prospectus, entitled "Intermediary-Specific Charge Reductions and Waivers." Class C Shares are sold without an initial front-end sales charge, but a deferred sales charge of 1.00% applies, however, if Class C Shares are sold within 12 months of purchase. The deferred sales charge on Class C Shares may be waived for:

&nbsp;&nbsp;&nbsp;&nbsp;■ Certain
post-retirement withdrawals from an IRA or other retirement plan if you are over 70 1/2;

&nbsp;&nbsp;&nbsp;&nbsp;■ Redemptions
by certain eligible 401(a) and 401(k) plans and certain retirement plan rollovers;

&nbsp;&nbsp;&nbsp;&nbsp;■ Redemptions
where your dealer of record notifies the Distributor, prior to the time of investment, that the dealer waives the 1.00% advance payment
otherwise payable to such dealer;

&nbsp;&nbsp;&nbsp;&nbsp;■ Withdrawals
resulting from shareholder death or disability provided that the redemption is requested within one year of death or disability; and

&nbsp;&nbsp;&nbsp;&nbsp;■ Withdrawals
through the Systematic Withdrawal Plan.

Exchange Privilege

As described in the Funds' Prospectus under "How To Redeem Shares—Exchange Privilege," the Funds offer an exchange privilege pursuant to which a shareholder in a Fund may exchange some or all of his shares in either of the funds in the Eventide Fund family, in the same class shares at net asset value, provided the account registration information of the other Fund is the same. The exchange privilege may be changed or discontinued upon 60 days' written notice to shareholders and is available only to shareholders where such exchanges may be legally made. A shareholder considering an exchange should obtain and read the prospectus of the Fund and consider the

---

| | |
|:---|:---|
| **EVENTIDE** | **76** |
| **EVENTIDE** | **76** |

---

---

| | |
|:---|:---|
| **S T A T E M E N T O F A D D I T I O N A L I N F O R M A T I O N** | **N o v e m b e r 1, 2 0 2 5** |

---

differences between it and the Fund whose shares he owns before making an exchange. For further information on how to exercise the exchange privilege, contact the Transfer Agent.

Sales Charge Waivers and Reductions Available Through Certain Financial Intermediaries

The availability of certain sales charge waivers and discounts may depend on whether you purchase your shares directly from the Funds or through a financial intermediary. Intermediaries may impose different sales charges other than those listed below for Class A shares and may have different policies and procedures regarding the availability of sales load and waivers or reductions. Such intermediary-specific sales charge variations are described in Appendix A to the prospectus, titled "Intermediary-Specific Sales Charge Reductions and Waivers." Appendix A is incorporated by reference into (or legally considered part of) the prospectus.

In all instances, it is the shareholder's responsibility to notify the Funds or the shareholder's financial intermediary at the time of purchase of any relationship or other facts qualifying the shareholder for sales charge reductions or waivers. For reductions and waivers not available through a particular intermediary, shareholders will have to purchase Fund shares directly from the Funds or through another intermediary to receive these reductions or waivers.

Net Asset Value

Each Fund's net asset value ("NAV") per share is determined by dividing the total value of the Fund's assets, less any liabilities, by the number of shares of the Fund outstanding.

The net asset value per share of the Funds is determined by the Administrator as of the close of regular trading on the New York Stock Exchange (normally 4:00 p.m., Eastern Time) on each day when the New York Stock Exchange is open for trading. The New York Stock Exchange is closed on the following holidays: New Year's Day, Martin Luther King, Jr. Day, Presidents' Day, Good Friday, Memorial Day, Juneteenth National Independence Day, Independence Day, Labor Day, Thanksgiving Day and Christmas Day as observed.

Assets for which market quotations are available are valued, by independent pricing services, as follows.

&nbsp;&nbsp;&nbsp;&nbsp;■ Exchange-traded
domestic equity securities are generally valued at the last sales price on a national securities exchange (except the NASDAQ Stock Market).
Domestic equity securities traded on the NASDAQ Stock Market are generally valued at the NASDAQ Official Closing Price (NOCP) on the
date of valuation. Domestic equity securities that are not traded on an exchange are generally valued at the last sales price. Exchange-traded
foreign equity securities are generally valued, in the appropriate currency, at the last quoted sales price on the relevant exchange.
Foreign equity securities that are not exchange-traded are generally valued, in the appropriate currency, at the last sales price. Rights
and warrants are valued at the last sales price on a national securities exchange.

&nbsp;&nbsp;&nbsp;&nbsp;■ Debt
securities, including foreign debt securities, are valued by an approved independent pricing service. Debt securities with remaining
maturities of 60 days or less may be valued at amortized cost unless it is determined that amortized cost does not represent fair value *(e.g.,* securities that are not expected to mature at par). Debt

---

| | |
|:---|:---|
| **EVENTIDE** | **77** |
| **EVENTIDE** | **77** |

---

---

| | |
|:---|:---|
| **S T A T E M E N T O F A D D I T I O N A L I N F O R M A T I O N** | **N o v e m b e r 1, 2 0 2 5** |

---

securities with remaining maturities of 60 days or less that are not valued based on amortized cost are valued based on prices provided by approved independent pricing services.

&nbsp;&nbsp;&nbsp;&nbsp;■ Shares
of ETFs and closed-end registered investment companies are valued in the same manner as other equity securities. Mutual funds are valued
at their net asset values.

&nbsp;&nbsp;&nbsp;&nbsp;■ Foreign
currencies are valued at the last quoted foreign exchange London close quotation from an approved independent pricing service. The value
of assets and liabilities denominated in currencies other than the U.S. dollar are translated into their U.S. dollar equivalent values
at such last foreign exchange quotation.

&nbsp;&nbsp;&nbsp;&nbsp;■ Exchange-listed
swaps and total return swaps on exchange-listed securities are generally valued at the last quoted sales price. Other swaps are valued
by an approved independent pricing service. If no valuation is available from an approved independent pricing service, then at the price
received from the broker-dealer/counterparty that issued the swap.

&nbsp;&nbsp;&nbsp;&nbsp;■ Exchange-traded
options are generally valued at the closing price or last sale price on the primary exchange for that option as recorded by an approved
independent pricing service. Exchange-traded options that are part of a straddle are valued at the mean price provided by an approved
independent pricing service. Over-the-counter index options and other derivative contracts (other than swaps, as set forth above) on
securities, currencies and other financial instruments are generally valued at mean prices provided by an approved independent pricing
service. In the absence of such a value, such derivatives contracts are valued at the marked-to-market price (or the evaluated price
if a marked-to-market price is not available) provided by the broker-dealer with which the option was traded (which may also be the counterparty).

&nbsp;&nbsp;&nbsp;&nbsp;■ Futures
contracts are valued at their settlement price on the exchange on which they are traded. If settlement price is not available, the contracts
are priced at the last trade price prior to the close. If the settlement price or last trade price is not available, then at the mean
of the quoted bid and asked prices on such exchange.

&nbsp;&nbsp;&nbsp;&nbsp;■ Foreign
currency forward contracts are valued by an approved independent pricing service at the current day's interpolated foreign exchange
rate, as calculated using the current day's spot rate and the prevailing forward rates, and converted to U.S. dollars at the exchange
rate of such currencies against the U.S. dollar, as of the close of regular trading on the London Stock Exchange (usually 11:00 a.m.
Eastern Time).

When approved by the Board, certain securities may be valued on the basis of valuations provided by an independent pricing service when the Board believes such prices reflect the fair value of such securities. Securities that are fair valued by the Funds' valuation designee are typically those that lack a readily observable or market-corroborated price, involve private companies that do not file periodic financial reports, have few outstanding shares and therefore infrequent trades, or for which there is a lack of consensus on the value, with quoted prices covering a wide range. The lack of consensus would result from relatively unusual circumstances such as no trading in the security for long periods of time, or a company's involvement in merger or acquisition activity, with widely varying valuations placed on the company's assets or stock. Prices provided by an independent pricing service may be determined without exclusive reliance on quoted prices and may take into account appropriate factors such as institutional-size trading in similar groups of securities, yield, quality, coupon rate, maturity, type of issue, trading characteristics and other market data.

Many private companies are not required to file periodic financial reports, leading to challenges in the Adviser's ability to evaluate a company's business prospects, financial performance, and securities. Fair valued prices assigned to the Funds' investments in private companies are based on a variety of factors, reviewed regularly, and updated as additional information becomes available. The process of applying a fair value price to a security involves substantial subjectivity and discretion on the part of the Adviser, services providers, and others acting in good faith, and it is possible that the fair value assigned to a security may differ materially from the value assigned by other market participants, including prospective purchasers of a security sold by a Fund. Accordingly, it is possible for fair valued securities to be sold at prices that are materially lower than expected.

---

| | |
|:---|:---|
| **EVENTIDE** | **78** |
| **EVENTIDE** | **78** |

---

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| | |
|:---|:---|
| **S T A T E M E N T O F A D D I T I O N A L I N F O R M A T I O N** | **N o v e m b e r 1, 2 0 2 5** |

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In the absence of an ascertainable market value, assets are valued at their fair value as determined by the Adviser using methods and procedures reviewed and approved by the Board.

Tax Information

Each Fund intends to qualify as a regulated investment company, or "RIC", under the Internal Revenue Code of 1986, as amended (the "Code"). Qualification generally will relieve a Fund of liability for federal income taxes. If for any taxable year a Fund does not qualify for the special tax treatment afforded regulated investment companies, all of its taxable income will be subject to federal tax at regular corporate rates (without any deduction for distributions to its shareholders). In such event, dividend distributions would be taxable to shareholders to the extent of the Fund's earnings and profits and would be eligible for the dividends-received deduction for corporations.

As of June 30, 2025, the components of accumulated earnings/(deficit) on a tax basis were as follows:

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| | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|
|  | *Undistributed* | *Undistributed* | *Post October Loss* | *Capital Loss* | *Other* | *Unrealized* | *Total* |
|  | *Ordinary* | *Long-Term* | *and* | *Carry* | *Book/Tax* | *Appreciation/* | *Accumulated* |
| *Portfolio* | *Income* | *Capital Gains* | *Late Year Loss* | *Forwards* | *Differences* | *(Depreciation)* | *Earnings/(Deficits)* |
| Core Bond Fund<br>| $150222 |  |  | $(15185022) |  | $(2167035) | $(17201835) |
| Dividend Growth Fund<br>|  | 28654745 |  |  |  | 201748764 | 230403509 |
| Exponential Technologies Fund |  |  | $(600378) | (46820367) | $(167762) | 28776666 | (18811841) |
| Gilead Fund<br>|  | 272348115 | (19524674) |  |  | 1183947716 | 1436771157 |
| Healthcare & Life Sciences Fund |  |  | (142795526) | (7762214) |  | 162472468 | 11914728 |
| Limited-Term Bond Fund | 94711 |  |  | (8990663) |  | 947760 | (7948192) |
| Balanced Fund | 15304 | $12877773 |  |  |  | 41267594 | 54160671 |
| Large Cap Focus Fund | 78231 | 697236 |  |  |  | 21167106 | 21942573 |

---

Each Fund's net realized capital gains from securities transactions will be distributed only after reducing such gains by the amount of any available capital loss carryforwards. Capital losses incurred may be carried forward indefinitely

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| | |
|:---|:---|
| **EVENTIDE** | **79** |
| **EVENTIDE** | **79** |

---

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| | |
|:---|:---|
| **S T A T E M E N T O F A D D I T I O N A L I N F O R M A T I O N** | **N o v e m b e r 1, 2 0 2 5** |

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and retain the character of the original loss. Capital loss carryforwards are available to offset future realized capital gains. To the extent that these carryforwards are used to offset future capital gains it is probable that the amount offset will not be distributed to shareholders.

Certain U.S. shareholders, including individuals and estates and trusts, are subject to an additional 3.8% Medicare tax on all or a portion of their "net investment income," which should include dividends from a Fund and net gains from the disposition of shares of the Fund. U.S. shareholders are urged to consult their own tax advisers regarding the implications of the additional Medicare tax resulting from an investment in the Fund.

Payments to a shareholder that is either a foreign financial institution ("FFI") or a non-financial foreign entity ("NFFE") within the meaning of the Foreign Account Tax Compliance Act ("FATCA") may be subject to a generally nonrefundable 30% withholding tax on: (a) income dividends paid by a Fund and (b) certain capital gain distributions and the proceeds arising from the sale of Fund shares paid by the Fund. FATCA withholding tax generally can be avoided: (a) by an FFI, subject to any applicable intergovernmental agreement or other exemption, if it enters into a valid agreement with the IRS to, among other requirements, report required information about certain direct and indirect ownership of foreign financial accounts held by U.S. persons with the FFI and (b) by an NFFE, if it: (i) certifies that it has no substantial U.S. persons as owners or (ii) if it does have such owners, reports information relating to them. A Fund may disclose the information that it receives from its shareholders to the IRS, non-U.S. taxing authorities or other parties as necessary to comply with FATCA. Withholding also may be required if a foreign entity that is a shareholder of a Fund fails to provide the Fund with appropriate certifications or other documentation concerning its status under FATCA.

Investments in Foreign Securities

The Funds may be subject to foreign withholding taxes on income from certain foreign securities. This, in turn, could reduce a Fund's income dividends paid to you.

**Pass-Through of Foreign Tax Credits.** Each Fund may be subject to certain taxes imposed by the countries in which it invests or operates. If a Fund qualifies as a regulated investment company and if more than 50% of the value of the Fund's total assets at the close of any taxable year consists of stocks or securities of foreign corporations, the Fund may elect, for U.S. federal income tax purposes, to treat any foreign taxes paid by the Fund that qualify as income or similar taxes under U.S. income tax principles as having been paid by the Fund's shareholders. *It is not likely that the Fund will be able to do so.* For any year for which the Fund makes such an election, each shareholder will be required to include in its gross income an amount equal to its allocable share of such taxes paid by the Fund and the shareholders will be entitled, subject to certain limitations, to credit their portions of these amounts against their U.S. federal income tax liability, if any, or to deduct their portions from their U.S. taxable income, if any. No deduction for foreign taxes may be claimed by individuals who do not itemize deductions. In any year in which it elects to "pass through" foreign taxes to shareholders, the Fund will notify shareholders within 60 days after the close of the Fund's taxable year of the amount of such taxes and the sources of its income. Furthermore, the amount of the foreign tax credit that is available may be limited to the extent that dividends from a foreign corporation qualify for the lower tax rate on "qualified dividend income."

**Effect of Foreign Debt Investments and Hedging on Distributions.** Under the Code, gains or losses attributable to fluctuations in exchange rates, which occur between the time a Fund accrues receivables or liabilities denominated

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| | |
|:---|:---|
| **EVENTIDE** | **80** |
| **EVENTIDE** | **80** |

---

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| | |
|:---|:---|
| **S T A T E M E N T O F A D D I T I O N A L I N F O R M A T I O N** | **N o v e m b e r 1, 2 0 2 5** |

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in a foreign currency, and the time the Fund actually collects such receivables or pays such liabilities, generally are treated as ordinary income or ordinary loss. Similarly, on disposition of debt securities denominated in a foreign currency and on disposition of certain options and futures contracts, gains or losses attributable to fluctuations in the value of foreign currency between the date of acquisition of the security or contract and the date of disposition also are treated as ordinary gain or loss. These gains when distributed are taxable to you as ordinary income, and any losses reduce a Fund's ordinary income otherwise available for distribution to you. *This treatment could increase or decrease a Fund's ordinary income distributions to you and may cause some or all of the Fund's previously distributed income to be classified as a return of capital.* A return of capital generally is not taxable to you but reduces the tax basis of your shares in a Fund. Any return of capital in excess of your basis, however, is taxable as a capital gain.

**PFIC securities.** Each Fund may invest in securities of foreign entities that could be deemed for tax purposes to be passive foreign investment companies ("PFICs"). In general, a foreign corporation is classified as a PFIC if at least one-half of its assets constitute investment-type assets, or 75% or more of its gross income is investment-type income. When investing in PFIC securities a Fund may elect to mark-to-market a PFIC and recognize any gains at the end of its fiscal and excise (described above) tax years. Deductions for losses are allowable only to the extent of any current or previously recognized gains. These gains (reduced by allowable losses) are treated as ordinary income that a Fund is required to distribute, even though it has not sold the securities. You should also be aware that distributions from a PFIC are generally not eligible for the reduced rate of tax on "qualified dividend income." In the alternative, a Fund may elect to treat the PFIC as a qualified electing fund (a "QEF"), in which case the Fund would be required to include its share of the company's income and net capital gains annually, regardless of whether it receives distributions from the company. The QEF and mark-to-market elections may require a Fund to sell securities it would have otherwise continued to hold in order to make distributions to shareholders to avoid any Fund-level tax. Income from investments in PFICs generally will not qualify for treatment as qualified dividend income.

Backup Withholding

A Fund may be required to withhold U.S. federal income tax at the fourth lowest tax rate applicable to unmarried individuals of all reportable payments, including dividends, capital gain distributions and redemptions payable to shareholders who fail to provide the Fund with their correct taxpayer identification number or to make required certifications, or who have been notified by the IRS that they are subject to backup withholding. Corporate shareholders and certain other shareholders specified in the Code generally are exempt from such backup withholding. Backup withholding is not an additional tax. Any amounts withheld may be credited against the shareholder's U.S. federal income tax liability.

Foreign Shareholders

U.S. withholding and estate taxes may apply to any investments made by non-U.S. investors in a Fund. The American Jobs Creation Act of 2004, as extended by the Emergency Economic Stabilization Act of 2008 and later by the Tax Relief, Unemployment Insurance Reauthorization, and Job Creation Act of 2010, provides relief from U.S. withholding tax for certain properly designated distributions made with respect to a Fund's taxable year beginning prior to 2012, assuming the investor provides valid tax documentation certifying non-U.S. status. The relief does not by its terms apply to a Fund's taxable year beginning in or after 2012 unless so extended by Congress. A Fund will generally apply this relief, where applicable, to Fund distributions made to you if you invest directly with the Fund. If you hold Fund

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| | |
|:---|:---|
| **EVENTIDE** | **81** |
| **EVENTIDE** | **81** |

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| | |
|:---|:---|
| **S T A T E M E N T O F A D D I T I O N A L I N F O R M A T I O N** | **N o v e m b e r 1, 2 0 2 5** |

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shares through a broker or intermediary, your broker or intermediary may apply this relief to distributions made to you with respect to those shares. If your broker or intermediary instead collects withholding tax where this relief is applicable, you may be able to reclaim such withholding tax from the IRS. Please consult your tax adviser.

**Please be aware that the U.S. tax information contained in this SAI is not intended or written to be used and cannot be used for the purpose of avoiding U.S. tax penalties.** 

Financial Statements

The <u>financial statements</u> of each Fund and the independent registered public accounting firm's report for the fiscal year ended June 30, 2025, are hereby incorporated by reference.

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| | |
|:---|:---|
| **EVENTIDE** | **82** |
| **EVENTIDE** | **82** |

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| | |
|:---|:---|
| **S T A T E M E N T O F A D D I T I O N A L I N F O R M A T I O N** | **N o v e m b e r 1, 2 0 2 5** |

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<u>Appendix A</u> <u>Description of Commercial Paper and Bond Ratings</u>

Description of Moody's Investors Service, Inc. (*"Moody's"*), Short-Term Debt Ratings

**Prime-1.** Issuers (or supporting institutions) rated Prime-1 (*"P-1"*) have a superior ability for repayment of senior short-term debt obligations. P-1 repayment ability will often be evidenced by many of the following characteristics: leading market positions in well-established industries; high rates of return on funds employed; conservative capitalization structure with moderate reliance on debt and ample asset protection; broad margins in earnings coverage of fixed financial charges and high internal cash generation; well-established access to a range of financial markets and assured sources of alternate liquidity.

**Prime-2.** Issuers (or supporting institutions) rated Prime-2 (*"P-2"*) have a strong ability for repayment of senior short-term debt obligations. This will normally be evidenced by many of the characteristics cited above but to a lesser degree. Earnings trends and coverage ratios, while sound, may be more subject to variation. Capitalization characteristics, while still appropriate, may be more affected by external conditions. Ample alternate liquidity is maintained.

Description of Standard & Poor's Ratings Group (*"Standard & Poor's"*), Commercial Paper Ratings

**A.** Issues assigned this highest rating are regarded as having the greatest capacity for timely payment. Issues in this category are delineated with the numbers 1, 2, and 3 to indicate the relative degree of safety.

**A-1.** This designation indicates that the degree of safety regarding timely payment is strong. Those issues determined to possess extremely strong safety characteristics are denoted with a plus (+) sign designation.

**A-2.** Capacity for timely payment on issues with this designation is satisfactory. However, the relative degree of safety is not as high for issues designated A-1.

Description of Moody's Long-Term Debt Ratings

**Aaa.** Bonds which are rated Aaa are judged to be of the best quality. They carry the smallest degree of investment risk and are generally referred to as "gilt edged." Interest payments are protected by a large or by an exceptionally stable margin, and principal is secure. While the various protective elements are likely to change, such changes as can be visualized are most unlikely to impair the fundamentally strong position of such issues;

**Aa.** Bonds which are rated Aa are judged to be of high quality by all standards. Together with the Aaa group they comprise what are generally known as high-grade bonds. They are rated lower than the best bonds, because margins of protection may not be as large as in Aaa securities or fluctuation of protective elements may be of greater amplitude or there may be other elements present which make the long-term risk appear somewhat larger than the Aaa securities;

**A.** Bonds which are rated A possess many favorable investment attributes and are considered as upper-medium-grade obligations. Factors giving security to principal and interest are considered adequate, but elements may be present which suggest a susceptibility to impairment sometime in the future;

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| | |
|:---|:---|
| **EVENTIDE** | **83** |
| **EVENTIDE** | **83** |

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| | |
|:---|:---|
| **S T A T E M E N T O F A D D I T I O N A L I N F O R M A T I O N** | **N o v e m b e r 1, 2 0 2 5** |

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**Baa.** Bonds which are rated Baa are considered as medium-grade obligations (*i.e.*, they are neither highly protected nor poorly secured). Interest payments and principal security appear adequate for the present, but certain protective elements may be lacking or may be characteristically unreliable over any great length of time. Such bonds lack outstanding investment characteristics and in fact have speculative characteristics as well;

**Ba.** Bonds which are rated Ba are judged to have speculative elements; their future cannot be considered as well-assured. Often the protection of interest and principal payments may be very moderate and thereby not well safeguarded during both good and bad times over the future. Uncertainty of position characterizes bonds in this class;

**B.** Bonds which are rated B generally lack characteristics of the desirable investment. Assurance of interest and principal payments or of maintenance of other terms of the contract over any long period of time may be small;

**Caa.** Bonds which are rated Caa are of poor standing. Such issues may be in default or there may be present elements of danger with respect to principal or interest;

**Ca.** Bonds which are rated Ca represent obligations which are speculative in a high degree. Such issues are often in default or have other marked shortcomings;

**C.** Bonds which are rated C are the lowest rated class of bonds, and issues so rated can be regarded as having extremely poor prospects of ever attaining any real investment standing.

Note: Moody's applies numerical modifiers 1, 2, and 3 in each generic rating classification from Aa to B. The modifier 1 indicates that the company ranks in the higher end of its generic rating category; the modifier 2 indicates a mid-range ranking; and the modifier 3 indicates that the company ranks in the lower end of its generic rating category.

Description of Standard & Poor's Corporate Debt Ratings

**AAA.** Debt rated AAA has the highest rating assigned by Standard & Poor's. Capacity to pay interest and repay principal is extremely strong.

**AA.** Debt Rated AA has a very strong capacity to pay interest and repay principal and differs from the higher rated issues only in small degree;

**A.** Debt rated A has a strong capacity to pay interest and repay principal although it is somewhat more susceptible to the adverse effects of changes in circumstances and economic conditions than debt in higher rated categories.

**BBB.** Debt rated BBB is regarded as having an adequate capacity to pay interest and repay principal. Whereas it normally exhibits adequate protection parameters, adverse economic conditions or changing circumstances are more likely to lead to a weakened capacity to pay interest and repay principal for debt in this category than in higher rated categories.

**BB, B, CCC, CC, C.** Debt Rated BB, B, CCC, CC, and C is regarded, on balance, as predominantly speculative with respect to capacity to pay interest and repay principal in accordance with the terms of the obligation. BB indicates the lowest degree of speculation and C the highest degree of speculation. While such debt will likely have some quality and protective characteristics, these are outweighed by large uncertainties or major risk exposures to adverse conditions.

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| | |
|:---|:---|
| **EVENTIDE** | **84** |
| **EVENTIDE** | **84** |

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| | |
|:---|:---|
| **S T A T E M E N T O F A D D I T I O N A L I N F O R M A T I O N** | **N o v e m b e r 1, 2 0 2 5** |

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**BB.** Debt rated BB has less near-term vulnerability to default than other speculative issues. However, it faces major ongoing uncertainties or exposure of adverse business, financial, or economic conditions which could lead to inadequate capacity to meet timely interest and principal payments. The BB rating category is also used for debt subordinated to senior debt that is assigned an actual or implied BBB- rating.

**B.** Debt rated B has a greater vulnerability to default but currently has the capacity to meet interest payments and principal repayments. Adverse business, financial, or economic conditions will likely impair capacity or willingness to pay interest and repay principal. The B rating category is also used for debt subordinated to senior debt that is assigned an actual or implied BB or BB- rating.

**CCC.** Debt rated CCC has a currently identifiable vulnerability to default and is dependent upon favorable business, financial, and economic conditions to meet timely payment of interest and repayment of principal. In the event of adverse business, financial, or economic conditions, it is not likely to have the capacity to pay interest and repay principal. The CCC rating category is also used for debt subordinated to senior debt that is assigned an actual or implied B or B- rating.

**CC.** The rating CC is typically applied to debt subordinated to senior debt that is assigned an actual or implied CCC rating.

**C.** The rating C is typically applied to debt subordinated to senior debt which is assigned an actual or implied CCC- debt rating. The C rating may be used to cover a situation where a bankruptcy petition has been filed, but debt service payments are continued.

**CI.** The rating CI is reserved for income bonds on which no interest is being paid.

**D.** Debt rated D is in payment default. The D rating category is used when interest payments or principal payments are not made on the date due even if the applicable grace period has not expired, unless Standard & Poor's believes that such payments will be made during such grace period. The D rating also will be used upon the filing of a bankruptcy petition if debt service payments are jeopardized.

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| | |
|:---|:---|
| **EVENTIDE** | **85** |
| **EVENTIDE** | **85** |

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| | |
|:---|:---|
| **S T A T E M E N T O F A D D I T I O N A L I N F O R M A T I O N** | **N o v e m b e r 1, 2 0 2 5** |

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<u>Appendix B</u> <u>Eventide Asset Management, LLC Proxy Voting Policies and Procedures</u>

Pursuant to the recent adoption by the Securities and Exchange Commission (the "Commission") of Rule 206(4)-6 and amendments to Rule 204-2 under the Investment Advisers Act of 1940 (the "Act"), it is a fraudulent, deceptive, or manipulative act, practice or course of business, within the meaning of Section 206(4) of the Act, for an investment adviser to exercise voting authority with respect to client securities, unless (i) the adviser has adopted and implemented written policies and procedures that are reasonably designed to ensure that the adviser votes proxies in the best interests of its clients, (ii) the adviser describes its proxy voting procedures to its clients and provides copies on request, and (iii) the adviser discloses to clients how they may obtain information on how the adviser voted their proxies.

In order to fulfill its responsibilities, **Eventide Asset Management, LLC** (hereinafter "we" or "our") has adopted the following policies and procedures and coordinates with service providers to effect proxy voting concerning companies held within investment portfolios of our clients.

KEY OBJECTIVES

The key objective of these policies and procedures is to recognize that a company's management is entrusted with the day-to-day operations and longer-term strategic planning of the company, subject to the oversight of the company's board of directors. While "ordinary business matters" are primarily the responsibility of management and should be approved solely by the corporation's board of directors, these objectives also recognize that the company's shareholders must have final say over how management and directors are performing, and how shareholders' rights and ownership interests are handled, especially when matters could have substantial economic implications to the shareholders.

Therefore, to advance the best interests of Fund investors consistent with the ethical principles described in the Funds' prospectus, we will seek to promote integrity and value creation within portfolio companies by paying particular attention to the following matters in exercising our proxy voting responsibilities as a fiduciary for our clients:

**Accountability.** Each company should have effective means in place to hold those entrusted with running a company's business accountable for their actions. Management of a company should be accountable to its board of directors and the board should be accountable to shareholders.

**Alignment of Management and Shareholder Interests.** Each company should endeavor to align the interests of management and the board of directors with the interests of the company's shareholders. For example, we generally believe that compensation should be designed to reward management for doing a good job of creating value for the shareholders of the company.

**Transparency.** Promotion of timely disclosure of important information about a company's business operations and financial performance enables investors to evaluate the performance of a company and to make informed decisions about the purchase and sale of a company's securities.

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| | |
|:---|:---|
| **EVENTIDE** | **86** |
| **EVENTIDE** | **86** |

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| | |
|:---|:---|
| **S T A T E M E N T O F A D D I T I O N A L I N F O R M A T I O N** | **N o v e m b e r 1, 2 0 2 5** |

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**Consistency with Ethical Screening Criteria.** Maintaining consistency with our ethical criteria is a requirement for ongoing Fund investments in companies. We believe it is consistent with our fiduciary duties to encourage alignment of corporate actions with our ethical criteria for companies.

DECISION METHODS

No set of proxy voting guidelines can anticipate all situations that may arise. In special cases, we may seek insight from our managers and analysts on how a particular proxy proposal may impact the financial prospects of a company and vote accordingly.

We believe that we invest in companies with strong management. Therefore, we will tend to vote proxies consistent with management's recommendations. However, we will vote contrary to management's recommendations if we believe those recommendations are not consistent with increasing shareholder value.

SUMMARY OF PROXY VOTING GUIDELINES

Election of the Board of Directors

We believe that good corporate governance generally starts with a board composed primarily of independent directors, unfettered by significant ties to management, all of whose members are elected annually. We also believe that reasonable turnover in board composition promotes independent board action, fresh approaches to governance, and generally has a positive impact on shareholder value. We will not generally set term limits on independent directors but will consider the average tenure of all directors for sufficient turnover.

The election of a company's board of directors is one of the most fundamental rights held by shareholders. Because a classified board structure prevents shareholders from electing a full slate of directors annually, we will generally support efforts to declassify boards or other measures that permit shareholders to remove a majority of directors at any time, and will generally oppose efforts to adopt classified board structures. We consider each vote on a case-by-case basis and reserve the right to override votes when we believe it is in the shareholders' best interest for long-term value creation.

Approval of Independent Auditors

We believe that the relationship between a company and its auditors should be limited primarily to the audit engagement, although it may include certain closely related activities that do not raise an appearance of impaired independence.

We will evaluate on a case-by-case basis instances in which the audit firm has a substantial non-audit relationship with a company to determine whether we believe independence has been, or could be, compromised.

Equity-Based Compensation Plans

We believe that appropriately designed equity-based compensation plans, approved by shareholders, can be an effective way to align the interests of shareholders and the interests of directors, management, and employees by providing incentives to increase shareholder value. Conversely, we are opposed to plans that substantially dilute ownership interests in the company, provide participants with excessive awards, or have inherently objectionable structural features.

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| | |
|:---|:---|
| **EVENTIDE** | **87** |
| **EVENTIDE** | **87** |

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|:---|:---|
| **S T A T E M E N T O F A D D I T I O N A L I N F O R M A T I O N** | **N o v e m b e r 1, 2 0 2 5** |

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We will generally support measures intended to increase stock ownership by executives and the use of employee stock purchase plans to increase company stock ownership by employees. These may include:

&nbsp;&nbsp;&nbsp;&nbsp;1. Requiring
senior executives to hold stock in a company.

&nbsp;&nbsp;&nbsp;&nbsp;2. Requiring
stock acquired through option exercise to be held for a certain period of time.

These are guidelines, and we consider other factors, such as the nature of the industry and size of the company, when assessing a plan's impact on ownership interests.

Corporate Structure

We view the exercise of shareholders' rights, including the rights to act by written consent, to call special meetings and to remove directors, to be fundamental to good corporate governance.

Because classes of common stock with unequal voting rights limit the rights of certain shareholders, we generally believe that shareholders should have voting power equal to their equity interest in the company and should be able to approve or reject changes to a company's by-laws by a simple majority vote.

We will generally support the ability of shareholders to cumulate their votes for the election of directors.

Shareholder Rights Plans

We recognize that there are arguments both in favor of and against shareholder rights plans, also known as poison pills. Therefore, we will generally evaluate shareholder rights plans on a case-by-case basis, focusing on the features of such plans.

Abstaining

In exercising its fiduciary duty to review all proxies, the Adviser may make a determination to abstain from voting if, in the Adviser's opinion, doing so would be in the best interest of the Fund.

CLIENT INFORMATION

A copy of these Proxy Voting Policies and Procedures is available to our clients, without charge, upon request, by calling 1-877-771-3836. We will send a copy of these Proxy Voting Policies and Procedures within three business days of receipt of a request, by first-class mail or other means designed to ensure equally prompt delivery. In addition, we will provide each client, without charge, upon request, information regarding the proxy votes cast by us with regard to the client's securities.

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| | |
|:---|:---|
| **EVENTIDE** | **88** |
| **EVENTIDE** | **88** |

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