# EDGAR Filing Document

**Accession Number:** 0001552947
**File Stem:** 0001580642-25-004187
**Filing Date:** 2025-7
**Character Count:** 4110
**Document Hash:** f81fa5bad2519df92d2a71e150e60153
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0001580642-25-004187.hdr.sgml**: 20250709

**ACCESSION NUMBER**: 0001580642-25-004187

**CONFORMED SUBMISSION TYPE**: 497

**PUBLIC DOCUMENT COUNT**: 15

**FILED AS OF DATE**: 20250709

**DATE AS OF CHANGE**: 20250709

**EFFECTIVENESS DATE**: 20250709

**FILER**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** Two Roads Shared Trust
- **CENTRAL INDEX KEY:** 0001552947

**ORGANIZATION NAME:**
- **EIN:** 000000000

**FILING VALUES:**
- **FORM TYPE:** 497
- **SEC ACT:** 1933 Act
- **SEC FILE NUMBER:** 333-182417
- **FILM NUMBER:** 251114215

**BUSINESS ADDRESS:**
- **STREET 1:** 225 PICTORIA DRIVE
- **STREET 2:** SUITE 450
- **CITY:** CINCINNATI
- **STATE:** OH
- **ZIP:** 45246
- **BUSINESS PHONE:** 402-895-1600

**MAIL ADDRESS:**
- **STREET 1:** 225 PICTORIA DRIVE
- **STREET 2:** SUITE 450
- **CITY:** CINCINNATI
- **STATE:** OH
- **ZIP:** 45246

## Series and Classes Contracts Data

### Redwood Managed Volatility Fund (Series ID: S000042696)

---

|  |  |  |
|:---|:---|:---|
| Class Name                              | Ticker Symbol | Class ID   |
| Redwood Managed Volatility Fund Class I | RWDIX         | C000131991 |
| Redwood Managed Volatility Fund Class N | RWDNX         | C000131992 |
| Redwood Managed Volatility Fund Class Y | RWDYX         | C000131993 |

---

## Series and Classes Contracts Data

### Redwood Managed Volatility Fund (Series ID: S000042696)

| Class ID   | Class Name                              | Ticker Symbol   |
|:---|:---|:---|
| C000131991 | Redwood Managed Volatility Fund Class I | RWDIX           |
| C000131992 | Redwood Managed Volatility Fund Class N | RWDNX           |
| C000131993 | Redwood Managed Volatility Fund Class Y | RWDYX           |

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

**Redwood Managed Volatility Fund**

Class N RWDNX

Class I RWDIX

Class Y RWDYX

*a series of Two Roads Shared Trust (the "Fund")*

**Supplement dated July 9, 2025 to the Prospectus and Summary Prospectus of the Fund, each dated March 1, 2025**

*This Supplement provides new and additional information beyond that contained in the Prospectus and should be read in conjunction with the Prospectus. This Supplement supersedes any information to the contrary in the Prospectus.*

Effective immediately, the corresponding disclosure in the section entitled "Fees and Expenses of the Fund" beginning on page 1 of the Prospectus and page 1 of the Summary Prospectus of the Redwood Managed Volatility Fund is replaced with the following:

(3) The
 Fund's adviser has contractually agreed to reduce the Fund's fees and/or absorb
 expenses of the Fund until at least March 1, 2026 , to ensure that total annual Fund operating
 expenses after expense waiver and reimbursement (exclusive of any taxes, front-end or contingent
 deferred loads, brokerage fees and commissions, borrowing costs (such as interest and dividend
 expenses on securities sold short), expenses of other investment companies in which the Fund
 may invest, and extraordinary expenses such as litigation) will not exceed 1.67% and 1.92%
 of average daily net assets attributable to Class I and Class N shares, respectively. This
 agreement may be terminated by the Fund's Board of Trustees on 60 days' written
 notice to the adviser. These fee waivers and expense reimbursements are subject to possible
 recoupment from the Fund in future years on a rolling three-year basis (within three years
 of when the amount was waived or reimbursed) if such recoupment can be achieved within the
 foregoing expense limits as well as any expense limitation that was in effect at the time
 the reimbursement was made.

**PLEASE RETAIN THIS SUPPLEMENT FOR FUTURE REFERENCE.**

*This Supplement and the existing Prospectus and Statement of Additional Information ("SAI") provide relevant information for all shareholders and should be retained for future reference. The Funds' Prospectus and the SAI have each been filed with the Securities and Exchange Commission, are incorporated by reference. Copies of these documents may be obtained without charge by calling 1-855-RED-FUND (733-3863).*